Unit 5 Chapter 12 Intermediate accounting

Unit 5 Chapter 12 Intermediate accounting - CHAPTER 12...

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CHAPTER 12 Accounting for Liabilities ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems 1. Concept of liabilities; definition and classification of current liabilities. 1, 2, 3, 4, 5, 6, 8 1 1, 2 2. Accounts payable; dividends payable. 7, 9, 29 1, 2, 3 2 1 3. Deposits, advance payments. 10 4 14 4. Long-term liability; classification; definitions. 11, 12, 13, 14 3, 4 2 5. Issuance of bonds; types of bonds. 15, 16, 17 5, 6, 7, 8 5, 9, 10 6. Retirement of debt. 18 10 8, 9, 10 7. Contingent liabilities (General). 19, 20, 21, 22, 23 11 11, 12 5, 6, 13, 14 8. Guaranties, warranties, and Asset retirement obligations. 23, 24 13, 14, 15 6, 7, 12, 13 3, 4 9. Self-insurance, litigation, claims, and assessments. 25, 26 12 7, 8, 10, 11 10. Presentation and analysis. 28, 29, 30, 31 9 13, 14, 15, 16, 17 2 *11. Premium and discount amortization. 32 16, 17, 18 18, 19, 20, 21, 22, 23 9, 10 *This material is discussed in the appendix. © 2008 For Instructor Use Only 12- 1
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ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Leaning Objectives Brief Exercises Exercises Problems 1. Describe the nature, type, and valuation of current liabilities. 1, 2, 3, 4 1, 2, 3, 4, 13 1, 2, 8 2. Identify various types of bond issues. 3. Describe the accounting valuation for bonds at date of issuance. 5, 6, 7, 8 5, 8, 9, 10, 20 2, 9, 10 4. Describe the accounting procedures for the extinguishment of debt. 10 8, 9, 10 5. Identify the criteria used to account for and disclose gain and loss contingencies. 11 5, 6, 7, 8 6. Explain the accounting for different types of loss contingencies. 11, 12, 13, 14, 15 6, 7, 11, 12 3, 4, 5, 6, 7, 8 7. Explain the reporting of off-balance-sheet financing arrangements. 8. Indicate how to present and analyze liabilities and contingencies. 9 1, 3, 4, 13, 14, 15, 16, 17 2 *9. Compute amortization of bond discount and premium using the effective-interest methods. 16, 17, 18 18, 19, 20, 21, 22, 23 9, 10 * This material is discussed in the appendix. © 2008 For Instructor Use Only 12- 2
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ASSIGNMENT CHARACTERISTICS TABLE © 2008 For Instructor Use Only 12- 3
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Item Description Level of Difficul ty Time (minu tes) E12-1 Balance sheet classification of various liabilities. Simple 10–15 E12-2 Accounts and notes payable. Modera te 15–20 E12-3 Classification of liabilities. Simple 15–20 E12-4 Classification. Simple 15–20 E12-5 Entries for bond transactions. Simple 15–20 E12-6 Warranties. Simple 10–15 E12-7 Warranties. Modera te 15–20 E12-8 Entry for retirement of bond; bond issue costs. Simple 15–20 E12-9 Entries for retirement and issuance of bonds. Simple 10–12 E12-10 Entries for retirement and issuance of bonds. Simple 10–15 E12-11 Contingencies. Modera te 20–30 E12-12 Asset retirement obligation. Modera te 20–25 E12-13 Financial statement impact of liability transactions. Modera te 30–35 E12-14 Ratio computations and discussion. Simple 10–15 E12-15 Long-term debt disclosure. Modera te 15–20 E12-16 Ratio computations and analysis. Simple 20–25 E12-17 Ratio computations and effect of transactions. Modera te 15–25 *E12-18 Entries for bond transactions—effective interest. Simple 15–20 *E12-19 Amortization schedule—straight-line interest. Simple 15–20 *E12-20 Determine proper amounts in account balances. Modera te 15–20 *E12-21 Entries and questions for bond transactions.
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