intermediate accountingfifteenth edition ch14汇总.docx
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intermediate accountingfifteenth edition ch14汇总.docx
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intermediateaccountingfifteentheditionch14汇总
CHAPTER14
Long-TermLiabilities
ASSIGNMENTCLASSIFICATIONTABLE(BYTOPIC)
Topics
Questions
BriefExercises
Exercises
Problems
ConceptsforAnalysis
1.
Long-termliability;classification;definitions.
1,10,
14,22
1,2
10,11
1,2
2.
Issuanceofbonds;typesofbonds.
2,3,4,9,10,11
1,2,3,4,5,6,7
3,4,5,6,7,8,9,10,11
1,2,3,4,5,6,7,10
1,2,5
3.
Premiumanddiscount;amortizationschedules.
5,6,7,
8,11
3,4,6,7,8,10
4,5,6,7,8,9,10,11,13,
14,15
1,2,3,4,5,6,7,
10,11
1,2
4.
Retirementandrefundingofdebt.
12,13
11
12,13,
14,15
2,4,5,
6,7,10
2,3
5.
Imputationofinterestonnotes.
14,15,16,17,18
12,13,
14,15
16,17,18
8,9
6.
Fairvalueoption.
19,20
16
19
7.
Disclosuresoflong-termobligations.
21,22,
23,24
9
20
10
1,3,4
*8.
Troubleddebtrestructuring.
25,26,27,28,29,30
21,22,23,24,25,
26,27
12,13,
14,15
*ThismaterialisdiscussedintheAppendixtotheChapter.
ASSIGNMENTCLASSIFICATIONTABLE(BYLEARNINGOBJECTIVE)
LearningObjectives
Questions
BriefExercises
Exercises
Problems
ConceptsforAnalysis
1.Describetheformalproceduresassociatedwithissuinglong-termdebt.
1
2.Identifyvarioustypesofbondissues.
2
1,2
CA14-1,CA14-5
3.Describetheaccountingvaluation
forbondsatdateofissuance.
3,4,5,6
1,2,3,4,5,
6,7,8
3,4,5,6,7,8,9,10,11,12,13,14,15
1,2,3,4,5,
6,7,10
CA14-2
4.Applythemethodsofbonddiscount
andpremiumamortization.
7,8,9,10,11,12
2,3,4,5,6,
7,8,10
3,4,5,6,7,8,9,10,12,13,14,15
1,2,3,4,5,
6,7,10,11
CA14-3
5.Describetheaccountingforthe
extinguishmentofdebt.
13
11
12,13,14,15
2,4,5,6,
7,10
6.Explaintheaccountingforlong-term
notespayable.
14,15,16,17,18
12,13,14,15
16,17,18
3,8,9
7.Describetheaccountingforthefairvalueoption.
19,20
16
19
8.Explainthereportingofoff-balance-sheetfinancingarrangements.
22,23,24
CA14-4
9.Indicatehowtopresentandanalyze
long-termdebt.
21
9
20
4,10
*10.Describetheaccountingforadebtrestructuring.
25,26,27,28,29,30
21,22,23,24,25,26,27
12,13,14
ASSIGNMENTCHARACTERISTICSTABLE
Item
Description
LevelofDifficulty
Time
(minutes)
E14-1
Classificationofliabilities.
Simple
15–20
E14-2
Classification.
Simple
15–20
E14-3
Entriesforbondtransactions.
Simple
15–20
E14-4
Entriesforbondtransactions—straight-line.
Simple
15–20
E14-5
Entriesforbondtransactions—effective-interest.
Simple
15–20
E14-6
Amortizationschedule—straight-line.
Simple
15–20
E14-7
Amortizationschedule—effective-interest.
Simple
15–20
E14-8
Determineproperamountsinaccountbalances.
Moderate
15–20
E14-9
Entriesandquestionsforbondtransactions.
Moderate
20–30
E14-10
Entriesforbondtransactions.
Moderate
15–20
E14-11
Informationrelatedtovariousbondissues.
Simple
20–30
E14-12
Entryforredemptionofbond;bondissuecosts.
Simple
15–20
E14-13
Entriesforredemptionandissuanceofbonds.
Simple
15–20
E14-14
Entriesforredemptionandissuanceofbonds.
Simple
12–16
E14-15
Entriesforredemptionandissuanceofbonds.
Simple
10–15
E14-16
Entriesforzero-interest-bearingnotes.
Simple
15–20
E14-17
Imputationofinterest.
Simple
15–20
E14-18
Imputationofinterestwithright.
Moderate
15–20
E14-19
Fairvalueoption.
Simple
10–15
E14-20
Long-termdebtdisclosure.
Simple
10–15
*E14-21
Settlementofdebt.
Moderate
15–20
*E14-22
Termmodificationwithoutgain—debtor’sentries.
Moderate
20–30
*E14-23
Termmodificationwithoutgain—creditor’sentries.
Moderate
25–30
*E14-24
Termmodificationwithgain—debtor’sentries.
Moderate
25–30
*E14-25
Termmodificationwithgain—creditor’sentries.
Moderate
20–30
*E14-26
Debtor/creditorentriesforsettlementoftroubleddebt.
Simple
15–20
*E14-27
Debtor/creditorentriesformodificationoftroubleddebt.
Moderate
20–25
P14-1
Analysisofamortizationscheduleandinterestentries.
Simple
15–20
P14-2
Issuanceandredemptionofbonds.
Moderate
25–30
P14-3
Negativeamortization.
Moderate
20–30
P14-4
Issuanceandredemptionofbonds;incomestatementpresentation.
Simple
15–20
P14-5
Comprehensivebondproblem.
Moderate
50–65
P14-6
Issuanceofbondsbetweeninterestdates,straight-line,retirement.
Moderate
20–25
P14-7
Entriesforlifecycleofbonds.
Moderate
20–25
P14-8
Entriesforzero-interest-bearingnote.
Simple
15–25
P14-9
Entriesforzero-interest-bearingnote;payable
ininstallments.
Moderate
20–25
P14-10
Comprehensiveproblem;issuance,classification,reporting.
Moderate
20–25
P14-11
Effective-interestmethod.
Moderate
40–50
ASSIGNMENTCHARACTERISTICSTABLE(Continued)
Item
Description
LevelofDifficulty
Time
(minutes)
*P14-12
Debtor/creditorentriesforcontinuationoftroubleddebt.
Moderate
15–25
*P14-13
Restructureofnoteunderdifferentcircumstances.
Moderate
30–45
*P14-14
Debtor/creditorentriesforcontinuationoftroubleddebtwithneweffectiveinterest.
Complex
40–50
CA14-1
Bondtheory:
balancesheetpresentations,interestrate,premium.
Moderate
25–30
CA14-2
Bondtheory:
price,presentation,andredemption.
Moderate
15–25
CA14-3
Bondtheory:
amortizationandgainorlossrecognition.
Simple
20–25
CA14-4
Off-balance-sheetfinancing.
Moderate
20–30
CA14-5
Bondissue,ethics.
Moderate
23–30
SOLUTIONSTOCODIFICATIONEXERCISES
CE14-1
MasterGlossary
(a)Anobligationiscallableatagivendateifthecreditorhastherightatthatdatetodemand,ortogivenoticeofitsintentiontodemand,repaymentoftheobligationowedtoitbythedebtor.
(b)Theinterestratethatresultsfromaprocessofapproximation(orimputation)requiredwhenthepresentvalueofanotemustbeestimatedbecauseanestablishedexchangepriceisnotdeterminableandthenotehasnoreadymarket.
(c)Long-termobligationsarethosescheduledtomaturebeyondoneyear(ortheoperatingcycle,ifapplicable)fromthedateofanentity’sbalancesheet.
(d)Therateofreturnimplicitintheloan,thatis,thecontractualinterestrateadjustedforanydeferredloanfeesorcosts,premium,ordiscountexistingattheoriginationoracquisitionoftheloan.
CE14-2
AccordingtoFASBASC470-10-50-1(DisclosureofLong-TermObligations):
Thecombinedaggregateamountofmaturitiesandsinkingfundrequirementsforalllong-termborrowingsshallbedisclosedforeachofthefiveyearsfollowingthedateofthelatestbalancesheetpresented.(SeeSection505-10-50fordisclosureguidancethatappliestosecurities,includingdebtsecurities.)SeeExample3(Paragraph470-10-55-10)foranillustrationofthisdisclosurerequirement.
CE14-3
AccordingofFASBASC470-10-45-1(ClassificationofDebtthatIncludesCovenants):
Somelong-termloanscontaincertaincovenantsthatmustbemetonaquarterlyorsemiannualbasis.
Ifacovenantviolationoccursthatwouldotherwisegivethelendertherighttocallthedebt,alendermaywaiveitscallrightarisingfromthecurrentviolationforaperiodgreaterthanoneyearwhileretainingfuturecovenantrequirements.Unlessfactsandcircumstancesindicateotherwise,theborrowershallclassifytheobligationasnoncurrent,unlessbothofthefollowingconditionsexist:
(a)Acovenantviolationthatgivesthelendertherighttocallthedebthasoccurredatthebalancesheetdateorwouldhaveoccurredabsentaloanmodification.
(b)Itisprobablethattheborrowerwillnotbeabletocurethedefault(complywiththecovenant)atmeasurementdatesthatarewithinthenext12months.
SeeExample1(paragraph470-10-55-2)foranillustrationofthisclassificationguidance.
CE14-4
AccordingtoFASBASC470-10-S99-2(SABTopic4.A,SubordinatedDebt):
Subordinateddebtmaynotbeincludedinthestockholders’equitysectionofthebalancesheet.Anypresentationdescribingsuchdebtasacomponentofstockholders’equitymustbeeliminated.Furthermore,anycaptionrepresentingthecombinationofstockholders’equityandonlysubordinateddebtsmustbedeleted.
ANSWERSTOQUESTIONS
1.(a)Fundsmightbeobtainedthroughlong-termdebtfromtheissuanceofbonds,andfromthesigningoflong-termnotesandmortgages.
(b)Abondindentureisacontractualagreement(signedbytheissuerofbonds)betweenthebondissuerandthebondholders.Thebondindenturecontainscovenantsorrestrictionsfortheprotectionofthebondholders.
(c)Amortgageisadocumentwhichdescribesthesecurityforaloan,indicatestheconditionsunderwhichthemortgagebecomeseffective(thatis,conditionsofdefault),anddescribestherightsofthemortgageeunderdefaultrelativetothesecurity.Themortgageaccompaniesaformalpromissorynoteandbecomeseffectiveonlyupondefaultofthenote.
2.Iftheentirebondmaturesonasingledate,thebondsarereferredtoastermbonds.Mortgagebondsaresecuredbyrealestate.Debenturebondsareunsecured.Theinterestpaymentsforincomebondsdependontheexistenceofoperatingincomeintheissuingcompany.Callablebondsmaybecalledandretiredbytheissuerpriortomaturity.Registeredbondsareissuedinthenameoftheownerandrequiresurrenderofthecertificateandissuanceofanewcert
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