Intermediate Accounting Volume 2,11th Canadian Edition Solution Manual
CHAPTER 14
LONG-TERM FINANCIAL LIABILITIES
ASSIGNMENT CLASSIFICATION TABLE
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Topics |
Brief Exercises |
Exercises |
Problems |
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|
1. |
Understand the nature of long-term debt. |
1, 2 |
1, 2 |
1, 2 |
|
|
2. |
Understand how long-term debt is measured and accounted for. |
3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18 |
3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18 |
1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 13 |
|
|
3. |
Recognition and derecognition of debt and debt restructurings. |
19, 20, 21 |
17, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28 |
6, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 |
|
|
4. |
Presentation of long-term debt. |
24 |
16, 18, 29, 30 |
2, 8, 10 |
|
|
5. |
Disclosure requirements. |
31 |
9, 10 |
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|
6. |
Long-term debt analysis. |
25 |
7 |
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|
7. |
Differences between IFRS and ASPE. |
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NOTE: If your students are solving the end-of-chapter material using a financial calculator or an Excel spreadsheet as opposed to the PV tables, please note that there will be a difference in amounts. Excel and financial calculators yield a more precise result as opposed to PV tables. The amounts used for the preparation of journal entries in solutions have been prepared from the results of calculations arrived at using the PV tables.
ASSIGNMENT CHARACTERISTICS TABLE
|
Item |
Description |
Level of Difficulty |
Time(minutes) |
|
|
E14-1 |
Features of long-term debt. |
Simple |
10-15 |
|
|
E14-2 |
Information related to various bond issues. |
Simple |
35-45 |
|
|
E14-3 |
Entries for bond transactions. |
Simple |
15-20 |
|
|
E14-4 |
|
Entries for bond transactions—effective interest. |
Simple |
15-20 |
|
E14-5 |
Entries for bond transactions—straight-line. |
Simple |
15-20 |
|
|
E14-6 |
Entries for noninterest-bearing debt. |
Simple |
15-20 |
|
|
E14-7 |
Imputation of interest. |
Simple |
15-20 |
|
|
E14-8 |
Instalment note. |
Moderate |
15-20 |
|
|
E14-9 |
Purchase of equipment with noninterest-bearing debt. |
Moderate |
15-20 |
|
|
E14-10 |
Purchase of equipment with noninterest-bearing debt. |
Moderate |
15-20 |
|
|
E14-11 |
Entries for bond transactions. |
Moderate |
15-20 |
|
|
E14-12 |
Amortization schedule—straight-line. |
Simple |
15-20 |
|
|
E14-13 |
Amortization schedule—effective interest. |
Simple |
15-20 |
|
|
E14-14 |
Determine proper amounts in account balances. |
Moderate |
15-20 |
|
|
E14-15 |
Government interest free loan |
Moderate |
15-20 |
|
|
E14-16 |
Entries and questions for bond transactions. |
Moderate |
20-30 |
|
|
E14-17 |
Entries for retirement of bonds. |
Simple |
10-15 |
|
|
E14-18 |
Entries for retirement and issuance of bonds – straight line. |
Simple |
15-20 |
|
|
E14-19 |
Entries for retirement and issuance of bonds – effective interest. |
Complex |
30-35 |
|
|
E14-20 |
Entry for retirement of bond; bond issue costs. |
Moderate |
20-25 |
|
|
E14-21 |
Entries for retirement and issuance of bonds. |
Simple |
15-20 |
|
|
E14-22 |
Impairments. |
Moderate |
15-25 |
|
|
E14-23 |
Settlement of debt. |
Moderate |
15-20 |
|
|
E14-24 |
Term modification debtor’s entries. |
Moderate |
20-30 |
|
|
E14-25 |
Term modification creditor’s entries. |
Moderate |
25-30 |
|
|
E14-26 |
Settlement debtor’s entries. |
Moderate |
25-30 |
|
|
E14-27 |
Settlement creditor’s entries. |
Moderate |
20-30 |
|
|
E14-28 |
Debtor/creditor entries for modification of troubled debt. |
Moderate |
20-25 |
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