ch14 - CHAPTER 14 LONG-TERM LIABILITIES MULTIPLE...

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CHAPTER 14 LONG-TERM LIABILITIES MULTIPLE CHOICE —Conceptual Answer No. Description a 1. Liability identification. a 2. Bond terms. b 3. Definition of "debenture bonds." d 4. Interest rate of the bond indenture. d 5. Rate of interest earned by the bondholders. b 6. Premium and interest rates. a 7. Interest and discount amortization. d 8. Effective interest amortization method. d 9. Impact of effective interest method. c 10. Recording bonds issued between interest dates. d 11. Bonds issued at other than an interest date. d 12. Calculating the issue price of bonds. d 13. Calculating the issue price of bonds. d 14. Classification of bond issuance costs. c 15. Bond issuance costs. b 16. Classification of treasury bonds. d 17. Early extinguishment of bonds payable. d 18. Gain or loss on extinguishment of debt. d 19. Valuation of note issued in noncash transaction. d 20. Stated interest rate of note. c 21. Accounting for discount on notes payable. d 22. Off-balance-sheet financing. d 23. Required bond disclosures. d 24. Long-term debt disclosures. c 25. Times interest earned ratio. c. 26. Debt to total assets ratio. c *27. Modification of terms in debt restructure. d *28. Gain/loss on troubled debt restructuring. b *29. Gain/loss on troubled debt restructuring. b *30. Interest and troubled debt restructuring. c *31. Creditor's calculations for modification of terms. * This topic is dealt with in an Appendix to the chapter.
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Test Bank for Intermediate Accounting, Eleventh Edition MULTIPLE CHOICE —Computational Answer No. Description a 32. Calculate the present value of bond principal. b 33. Calculate the present value of bond interest. a 34. Determine the issue price of bonds. b 35. Interest expense using effective interest method. c 36. Interest expense using effective interest method. c 37. Calculate gain on retirement of bonds. b 38. Calculate gain on retirement of bonds. b 39. Calculate loss on retirement of bonds. b 40. Bond retirement with call premium. b 41. Calculate loss on retirement of bonds. a 42. Interest on noninterest-bearing note. c 43. Interest on installment note payable. b 44. Determine balance of discount on notes payable. d 45. Calculate times interest earned ratio. b *46. Transfer of equipment in debt settlement. d *47. Recognizing gain on debt restructure. a *48. Interest and troubled debt restructuring. MULTIPLE CHOICE —CPA Adapted Answer No. Description a 49. Determine proceeds from bond issue. b 50. Determine unamortized bond premium. a 51. Determine unamortized bond discount. c 52. Calculate bond interest expense. a 53. Calculate loss on retirement of bonds. d 54. Calculate loss on retirement of bonds. d 55. Calculate gain on retirement of bonds. c
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This note was uploaded on 05/01/2011 for the course ACCT 3341 taught by Professor Dr.ramaswamy during the Spring '09 term at University of St. Thomas-Texas.

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ch14 - CHAPTER 14 LONG-TERM LIABILITIES MULTIPLE...

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