ACC545 ACC/545 DQs Week 4 - 19389

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Describe the accounting procedures for both bonds and long-term notes. How are they similar? Provide an example of each. (Ch. 14 of Intermediate Accounting)


What types of situations result in troubled debt? What are some of the general rules for recognizing gain or loss by both parties in a troubled debt situation? How would you report these gains or losses? (Appendix 14A of Intermediate Accounting)


What are “asset gains and losses” and “liability gains and losses,” and how are they documented for postemployment benefits reporting? Provide examples of each in your response. (Ch. 20 of Intermediate Accounting)

Solution Description

Usually companies issue and account for bonds  using an effective interest method. There are several types of bonds, and all are generally accounted for in the same manner, with the variation being the type of bond that has