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| | | | | Financial & Managerial Accounting , 2002 Edition
Belverd E. Needles, Jr., DePaul University
Marian Powers, Northwestern University
Susan Crosson, Santa Fe Community College
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| | Learning Objectives
Chapter 11: Long-Term Liabilities
- Identify the management issues related to issuing long-term debt.
- Identify and contrast the major characteristics of bonds.
- Record the issuance of bonds at face value and at a discount or premium.
- Use present values to determine the value of bonds.
- Use the straight-line and effective interest methods to amortize bond discounts and premiums.
- Account for bonds issued between interest dates and make year-end adjustments.
- Account for the retirement of bonds and the conversion of bonds into stock.
- Explain the basic features of mortgages payable, installment notes payable, long-term leases, and pensions and other postretirement benefits as long-term liabilities.
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