Accounting assignment. Areas of Focus: • Define Bonds. Why does a company purchase bonds? What is the basic journal entry to record a bond purchase? What does it mean if a bond is purchased at par, discount and premium? How are these bond purchases recorded? • What does it mean to issue bonds? Why does a company issue bonds? There are two methods a company can choose to amortize a discount or premium – describe them. What does amortize mean? • What is the statement of cash flows? Describe the two forms of the statement. Describe each of the categories on the statement and what is included in each category.Bond Purchases: (Understanding how a company records bonds that they purchased) http://principlesofaccounting.com/chapter9/chapter9.html#url scroll down to held to maturity securitiesB-09.05-07 Bond investment purchased at par, premium & discount Issuing Bonds: (Understanding how a company records bonds that they issued) http://www.principlesofaccounting.com/chapter13/chapter13.html#NatureB-13.06 -08 Bonds at par, premium and discount – straight line amortization No Ch 15 HW Preparing the operating section of the statement of cash flows – indirect http://www.principlesofaccounting.com/chapter16/chapter16.html#UsingB-16.14 Preparation of statement of cash flows (indirect)
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