Accrued interest; effective interest; financial statement effects On March 1, 2016, Baddour, Inc., issued 10% bonds, dated January 1, with a face amount of $160 million. The bonds were priced at $140 million (plus accrued interest) to yield 12%. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30. Required: 1. What would be the amount(s) related to the bonds Baddour would report in its balance sheet at September 30, 2016? 2. What would be the amount(s) related to the bonds that Baddour would report in its income statement for the year ended September 30, 2016? 3. What would be the amount(s) related to the bonds that Baddour would report in its statement of cash flows for the year ended September 30, 2016?
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