On January 1 of this year, Ikuta Company issued a bond with a face value of $115,000 and a coupon rate of 4 percent. The bond matures in 3 years and pays interest every December 31. When the bond was issued, the annual market rate of interest was 5 percent. Ikuta uses the effective interest amortization method. (FV of $1, PV of $1. FVA of S1, and PVA of S1) (Use the appropriate factors) from the tables provided. Round your answers to whole dollars.) Required:
1. Complete a bond amortization schedule for all three years of the bond's life.
Date Cash Interest Interest Expense Amortization Book Value of Bond
Jan. 01, Year 1
Dec. 31. Year 1
Dec. 31. Year 2
Dec. 31, Year 3
2. What amounts will be reported on the income statement and balance sheet at the end of Year 1 and Year 2?
December 31 Year 1 Year 2
Interest expense
Bonds payable

Rats that received electric shocks were unlikely to develop ulcers if the

Your own record of all your transactions. a. check register b. account statement

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.