Intermediate accounting 19th by stice stice chapter 14

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... 3,813 50,000 3,813 ($31,776 x 12%) Chapter 14- 31 LO Explain the accounting for long-term notes payable Interest-Bearing Interest-Bearing Notes Notes BE14 -14 Larry Byrd Corporation issued a 4-year, ... 2007: 1/1/07 Cash Bonds payable 100,000 12/31/07 Interest expense Cash 8,000 Chapter 14- 14 100,000 8,000 LO Describe the accounting valuation for bonds at date of issuance Bonds Bonds Issued Issued ... price = $105,000 + 2,000 = $107,000 Chapter 14- 26 LO Describe the accounting for the extinguishment of debt Long-Term Long-Term Notes Notes Payable Payable Accounting is Similar to Bonds A note...

... Illustration 14 -1 14 -14 LO Describe the accounting valuation for bonds at date of issuance Bonds Bonds Issued Issued at at Par Par Illustration 14 -1 Illustration 14 -2 14 -15 LO Describe the accounting ... circumstance 14 -50 LO Explain the accounting for long-term notes payable Special Special Notes Notes Payable Payable Situations Situations Illustration 14 -18 Illustration 14 -16 14 - 51 LO Explain the accounting ... interest at Dec 31, 2 011 Bond interest expense 10 ,18 7 Bond interest payable 9,000 Bonds payable 1, 187 Journal entry to record first payment on Jan 1, 2 012 Bond interest payable Cash 14 -19 9,000 9,000...