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Intermediate Accounting
Curtis L. Norton, Northern Illinois University
Michael Diamond, University of Southern California
Donald Pagach, North Carolina State University
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Learning Objectives
Chapter 13: Accounting for Long-Term Liabilities: Bonds and Notes Payable
- Explain the characteristics and advantages of long-term debt.
- Determine the issue price of a bond.
- Demonstrate how to amortize a bond premium or discount, using both
the straight-line method and the effective interest method.
- Determine the amount of gain or loss on a bond redemption.
- Calculate imputed interest on notes payable.
- Use ratio analysis to examine the effect of long-term liabilities
on the financial statements.
- Explain how long-term liabilities affect cash flow.
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