Weygandt Intermediate Accounting 9e Solutions Manual Ch10

CHAPTER 10

Liabilities

ASSIGNMENT CLASSIFICATION TABLE

Learning Objectives

Brief

A

B

Questions Exercises Do It! Exercises Problems Problems

* 1. Explain a current liability, 1

1

and identify the major types

of current liabilities.

1A

1B

* 2. Describe the accounting for 2

2

1

1, 2

1A, 2A

1B

notes payable.

* 3. Explain the accounting for 3, 4, 5, 6 3, 4, 5, 6 1, 2

3, 4, 5, 6, 7 1A

1B

other current liabilities.

* 4. Explain why bonds are

7, 8, 9,

7

issued, and identify the

10, 11

types of bonds.

3

8, 9

* 5. Prepare the entries for the 12, 13, 14 8, 9, 10

4

issuance of bonds and

interest expense.

10, 11, 12, 13, 18, 19, 20, 21

3A, 4A, 6A, 2B, 3B, 5B, 7A, 8A, 9A 6B, 7B,

8B, 9B

*6. Describe the entries when 15, 16

11

bonds are redeemed or

converted.

5

13, 14

3A, 4A,

2B, 3B, 9B

10A

7. Describe the accounting for 17 long-term notes payable.

12

6

15

5A

4B

8. Identify the methods for the 18

13

presentation and analysis of

long-term liabilities.

16

3A, 4A, 5A 2B, 3B, 4B

*9. Compute the market price of 21

14

17

a bond.

*10. Apply the effective-interest 19, 20

15

method of amortizing bond

discount and bond

premium.

18, 19

6A, 7A

5B, 6B

Copyright ? 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only)

10-1

ASSIGNMENT CLASSIFICATION TABLE (Continued)

Learning Objectives

Brief

A

B

Questions Exercises Do It! Exercises Problems Problems

*11. Apply the straight-line method of amortizing bond discount and bond premium.

22, 23

16, 17

20, 21

8A, 9A, 10A 7B, 8B, 9B

*Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendices to the chapter.

10-2

Copyright ? 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only)

ASSIGNMENT CHARACTERISTICS TABLE

Problem Number Description

1A

Prepare current liability entries, adjusting entries, and

current liabilities section.

2A

Journalize and post note transactions and show balance

sheet presentation.

3A

Prepare entries to record issuance of bonds, interest

accrual, and bond redemption.

4A

Prepare entries to record issuance of bonds, interest

accrual, and bond redemption.

5A

Prepare installment payments schedule and journal

entries for a mortgage note payable.

*6A Prepare entries to record issuance of bonds, payment of interest, and amortization of bond premium using effective-interest method.

*7A Prepare entries to record issuance of bonds, payment of interest, and amortization of discount using effectiveinterest method. In addition, answer questions.

*8A Prepare entries to record issuance of bonds, interest accrual, and straight-line amortization for 2 years.

*9A Prepare entries to record issuance of bonds, interest, and straight-line amortization of bond premium and discount.

*10A

Prepare entries to record interest payments, straight-line premium amortization, and redemption of bonds.

1B

Prepare current liability entries, adjusting entries, and

current liabilities section.

2B

Prepare entries to record issuance of bonds, interest

accrual, and bond redemption.

3B

Prepare entries to record issuance of bonds, interest

accrual, and bond redemption.

4B

Prepare installment payments schedule and journal

entries for a mortgage note payable.

*5B Prepare entries to record issuance of bonds, payment of interest, and amortization of bond discount using effective-interest method.

Difficulty Level

Moderate Moderate Moderate Moderate Moderate Moderate

Moderate

Simple Simple

Moderate Moderate Moderate Moderate Moderate Moderate

Time Allotted (min.)

30?40 30?40 20?30 15?20 20?30 30?40

30?40

30?40 30?40

30?40 30?40 20?30 15?20 20?30 30?40

Copyright ? 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only)

10-3

ASSIGNMENT CHARACTERISTICS TABLE (Continued)

Problem Number

*6B

Description

Prepare entries to record issuance of bonds, payment of interest, and amortization of premium using effectiveinterest method. In addition, answer questions.

Difficulty Level

Moderate

Time Allotted (min.)

30?40

*7B Prepare entries to record issuance of bonds, interest accrual, and straight-line amortization for two years.

Simple

30?40

*8B Prepare entries to record issuance of bonds, interest, and Simple straight-line amortization of bond premium and discount.

30?40

*9B Prepare entries to record interest payments, straight-line Moderate discount amortization, and redemption of bonds.

30?40

10-4

Copyright ? 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only)

WEYGANDT FINANCIAL ACCOUNTING 9E CHAPTER 10 LIABILITIES

Number BE1 BE2 BE3 BE4 BE5 BE6 BE7 BE8 BE9 BE10 BE11 BE12 BE13 *BE14 *BE15 *BE16 *BE17 DI1 DI2 DI3 DI4 DI5 DI6 EX1 EX2 EX3 EX4 EX5 EX6 EX7 EX8 EX9 EX10 EX11 EX12 EX13 EX14

LO 1 2 3 3 3 3 4 5 5 5 6 7 8 9 10 11 11

2, 3 3 4 5 6 7 2 2 3 3 3 3 3 4 4 5 5 5

5, 6 6

BT

Difficulty

Time (min.)

C

Simple

3?5

AP

Simple

2?4

AP

Simple

2?4

AP

Simple

2?4

AP

Simple

3?5

AP

Simple

3?5

AP

Simple

6?8

AP

Simple

4?6

AP

Simple

3?5

AP

Simple

4?6

AP

Simple

3?5

AP

Simple

6?8

AP

Simple

3?5

AP

Simple

3?5

AP

Simple

4?6

AP

Simple

4?6

AP

Simple

4?6

C

Simple

6?8

AP

Simple

5?7

C

Simple

2?3

AP

Simple

4?6

AP

Simple

3?5

AP

Simple

4?6

AN

Moderate

8?10

AN

Simple

6?8

AP

Simple

4?6

AN

Simple

6?8

AP

Simple

8?10

AP

Simple

3?5

AP

Simple

6?8

C

Simple

4?6

AN

Simple

4?6

AP

Simple

4?6

AP

Simple

4?6

AP

Simple

6?8

AP

Simple

6?8

AP

Moderate

8?10

Copyright ? 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only)

10-5

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