Weyg_Finl_Ch11_SM_Final - © 2008 For Instructor Use Only...

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Unformatted text preview: © 2008 For Instructor Use Only 11-1 CHAPTER 11 Liabilities ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems * 1. Explain a current liability, and identify the major types of current liabilities. 1 1 1A 1B * 2. Describe the accounting for notes payable. 2 2 1, 2 1A 1B, 2B * 3. Explain the accounting for other current liabilities. 3, 4, 5, 6 3, 4, 5 3, 4, 5, 6 1A 1B * 4. Explain why bonds are issued, and identify the types of bonds. 7, 8, 9, 10, 11 6 7, 8 * 5. Prepare the entries for the issuance of bonds and interest expense. 12, 13, 14 7, 8 9, 10, 11, 12, 18, 19 2A, 4A, 5A, 6A, 7A, 9A 2B, 3B, 4B, 6B, 7B, 8B * 6. Describe the entries when bonds are redeemed or converted. 15, 16 9 11, 12 2A, 4A, 8A, 9A 3B, 4B, 8B 7. Describe the accounting for long-term notes payable. 17 10 13 3A 5B 8. Identify the methods for the presentation and analysis of long-term liabilities. 18 11 14 2A, 4A, 5A 3B, 4B *9. Compute the market price of a bond. 21 12 15 © 2008 For Instructor Use Only 11-2 ASSIGNMENT CLASSIFICATION TABLE (Continued) Study Objectives Questions Brief Exercises Exercises A Problems B Problems *10. Apply the effective-interest method of amortizing bond discount and bond premium. 19, 20 13 16, 17 5A, 6A, 9A 6B, 7B *11. Apply the straight-line method of amortizing bond discount and bond premium. 14, 15 18, 19 7A, 8A 8B *Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendices to the chapter. © 2008 For Instructor Use Only 11-3 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Prepare current liability entries, adjusting entries, and current liabilities section. Moderate 30–40 2A Prepare entries to record issuance of bonds, interest accrual, and bond redemption. Moderate 20–30 3A Prepare installment payments schedule and journal entries for a mortgage note payable. Moderate 20–30 4A Prepare entries to record issuance of bonds, interest accrual, and bond redemption. Moderate 15–20 *5A Prepare entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective-interest method. Moderate 30–40 *6A Prepare entries to record issuance of bonds, payment of interest, and amortization of premium using effective- interest method. In addition, answer questions. Moderate 30–40 *7A Prepare entries to record issuance of bonds, interest accrual, and straight-line amortization for two years. Simple 30–40 *8A Prepare entries to record interest payments, straight-line discount amortization, and redemption of bonds. Moderate 30–40 *9A Prepare entries to record issuance of bonds, interest, and straight-line amortization of bond premium and discount....
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Weyg_Finl_Ch11_SM_Final - © 2008 For Instructor Use Only...

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