Tài liệu Kế Toán - Kiểm Toán

Debt investments are characterized by contractual payments on specified dates of principal and interest on the principal amount outstanding. Companies measure debt investments at amortized cost or fair value.

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The cash receipts journal is a special journal in which all of business’s cash receipts transactions can be recorded in chronological order. The use of a cash receipts journal makes an accounting system more efficient. The cash receipts journal usually has several special money columns that simplify the recording of routine entries.

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Implementation of the with-and-without approach: First, determine total fair value of convertible debt with both the liability and equity component. Second, determine liability component by computing net present value of all contractual future cash flows discounted at the market rate of interest. Finally, subtract liability component estimated i...

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There is no need to enter account titles or to write a long explanation for each transaction. The purchases journal allows for great division of labor -- one person can be put in charge of entering purchases.

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Illustration: Vine Corporation has outstanding 1,000 shares of $100 par value common stock and retained earnings of $50,000. If Vine declares a 10 percent stock dividend, it issues 100 additional shares to current stockholders. If the fair value of the stock at the time of the stock dividend is $130 per share, the entry is:

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Discuss the characteristics of the corporate form of organization. Identify the key components of equity. Explain the accounting procedures for issuing shares. Describe the accounting for treasury shares. Explain the accounting for and reporting of preference shares. Describe the policies used in distributing dividends. Identify the various f...

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Posting is simplified using the Sales journal. Money columns are pencil-footed and the totals are posted to the appropriate accounts. The single posting to each account saves time and reduces the possibility of error.

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Kuhl Corporation acquires 50 Doan Inc. 8%, 10-year, $1,000 bonds on January 1, 2017, for $50,000. The bonds pay interest annually on January 1. If Kuhl Corporation’s fiscal year ends on December 31, prepare the entry to accrue interest earned by December 31.

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Cash is debited in the amount of $291. Sales Discount is debited in the amount of $9. Accounts receivable is credited in the full amount of $300.

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Interest Rate Stated, coupon, or nominal rate = Rate written in the terms of the bond indenture. Bond issuer sets this rate. Stated as a percentage of bond face value (par). Market rate or effective yield = Rate that provides an acceptable return commensurate with the issuer’s risk. Rate of interest actually earned by the bondholders.

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