WebCHAPTER 14 LONG-TERM LIABILITIES IFRS questions are available at the end of this chapter. TRUE-FALSEConceptual Answer T F T F F T F F F T T F T T T T F F F F No. Description 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. *19. *20. Bond interest payments. Debenture bonds. Definition of serial bonds. Market rate vs. coupon rate. WebTest Bank for Intermediate Accounting, Thirteenth Edition 14 - 2 MULTIPLE CHOICE —Conceptual (cont.) Answer No. Description b 39. Classification of treasury bonds. d 40. Early extinguishment of bonds payable. d 41. Gain or loss on extinguishment of debt. c P 42. In-substance defeasance. c P 43. Reporting long-term debt. a S 44. Debt ...
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WebRahul Jain 1. Accounts payable should not be reported at their present value. 2. When accounts payable are recorded at the net amount, a Purchase Discounts account will be used. 3. When accounts payable are … WebS50. Long-term debt that matures within one year and is to be converted into stock should be. reported a. as a current liability. b. in a special section between liabilities and stockholders‘ equity. c. as noncurrent. d. as noncurrent and accompanied with a note explaining the method to be used in its liquidation. Long-Term Liabilities 14 ... Web(e) Mortgage payable—Classify one-third as current liability and the remainder as long-term liability on balance sheet. 14-17 EXERCISE 14-2 (Continued) (f) Debenture bonds—Classify as long-term liability on balance sheet. (g) Notes payable—Classify as long-term liability on balance sheet. bjj southampton uk