CH11 - CHAPTER 11 Liabilities ASSIGNMENT CLASSIFICATION...

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CHAPTER 11 Liabilities ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Alternate Problems * 1. Explain a current liability and identify the major types of current liabilities. 1 1 1 1 * 2. Describe the accounting for notes payable. 2 2 1 1, 2 1 * 3. Explain the accounting for other current liabilities. 3, 4, 5, 6 3, 4 2, 3 1 1 * 4. Explain why bonds are issued and identify the types of bonds. 7, 8, 9, 10, 11 5 4 * 5. Prepare the entries for the issuance of bonds and interest expense. 12, 13, 14, 15, 16, 17 6, 7, 8, 9 5, 6, 7, 8 3, 4, 5 2, 3, 4, 6, 7 * 6. Describe the entries when bonds are redeemed or converted prior to maturity. 18, 19 10 6, 7, 9 4 * 7. Describe the accounting for long-term notes payable. 20 11 10 6 5 * 8. Identify the methods for the financial statement presentation and analysis of long-term liabilities. 21 12, 13 11 3, 4, 5 2, 3 *9. Contrast the effects of the straight-line and effective- interest methods of amortizing bond discount and bond premium. 22, 23 14 12, 13 7, 8 6, 7 *Note: All asterisked Questions, Exercises, and Problems relate to material contained in the Appendix to each chapter. 11-1
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ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1 Prepare current liability entries, adjusting entries, and current liability section. Moderate 30-40 2 Journalize and post note transactions and show bal- ance sheet presentation. Moderate 30-40 3 Prepare journal entries to record issuance of bonds, interest accrual, and amortization for two years. Simple 30-40 4 Prepare journal entries to record issuance of bonds, interest, and amortization of bond premium and dis- count. Simple 30-40 5 Prepare journal entries to record interest payments, discount amortization, and redemption of bonds. Moderate 30-40 6 Prepare installment payments schedule and journalize entries for a mortgage note payable. Moderate 20-30 *7 Prepare journal entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective-interest method. Moderate 30-40 *8 Prepare journal entries to record issuance of bonds, payment of interest, and amortization of premium using effective-interest method. In addition, answer a series of questions. Moderate 30-40 1A Prepare current liability entries, adjusting entries, and current liability section. Moderate 30-40 2A Prepare journal entries to record issuance of bonds, interest accrual, and amortization for two years. Simple 30-40 3A Prepare journal entries to record issuance of bonds, interest, and amortization of bond premium and dis- count. Simple 30-40 4A Prepare journal entries to record interest payments, premium amortization, and redemption of bonds. Moderate 30-40 5A Prepare installment payments schedule and journalize entries for a mortgage note payable. Moderate 20-30 *6A Prepare journal entries to record issuance of bonds, payment of interest, and amortization of bond premium using effective-interest method.
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