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# Accounting-Bonds Payable, Notes Payable, Liabilities

## Accounting for bonds and notes payable including the recording of bond discount and premium, present value calculations.

4.50 (49 reviews)

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## What you will learn

How to record the issuance of bonds

How to record bonds issued at a primium

How to record bonds issued at a discount

Present value (PV) Calculations Using Formulas

Present value (PV) Calculations Using Tables

Present value (PV) Calculations Excel

Calculate Bond Issue Price

How to record bond retirement

Description of notes payable

How to create an amortization table

Adjusting entries for notes payable

How to record current and long term liabilities

Types of bonds and bond characteristics

Calculate the effective amortization method

Explain what a capital lease and operating lease is

Comprehensive accounting problem

## Description

Bonds payable, notes payable, and liabilities will introduce the concept of bonds from a corporate perspective and explain how to record the issuance of bonds and notes payable.

We will discuss the journal entry for issuing bonds at par value, at a discount, and at a premium.

The course will cover present value calculations in multiple formats. Present value calculations are often confusing to learners partially because the topic can be introduced in many ways. We will look at various ways to calculate present value and explain when we would use each. We will calculate present values using formulas and algebra, using present value tables, and using Microsoft Excel functions.

We will calculate the issue price of bonds and discuss why the issue price often differs from the par value or face amount of a bond.

The course will cover the journal entry related to the retirement of a bond, both at maturity and before maturity.

We will introduce notes payable, record journal entries related to taking out an installment note, and build amortization tables related to notes payable. Amortization tables help us record the proper transactions when making payments on a note payable and also provide us with a good idea of what interest is, how it is calculated, and why.

This course will discuss adjusting entries that can be used in an accounting system to help simplify the data entry process.

We will discuss how to create the liability section of the balance sheet breaking out current and long-term portions. We will discuss different techniques for recording the current portion and long-term portion of installment notes.

This course will discuss different types of bonds and bond characteristics.

We will demonstrate different methods for amortizing discounts and premiums including the straight-line method and effective method, discussing the pros and cons of each.

This course will describe the differences between a capital lease and operating lease and when a lease must be recorded as a capital lease.

We will also have a comprehensive problem designed to take a step back and think about the entire accounting cycle.

In addition to the instructional videos, this course will include downloadable

•    Excel Practice Files

•    Multiple Choice Practice Questions

•    Short Calculation Practice Questions

•    Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.

Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.

Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.

Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

•    Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.

Content Includes:

·         How to record the issuance of bonds

·         How to record bonds issued at a premium

·         How to record bonds issued at a discount

·         Present value (PV) Calculations Using Formulas

·         Present value (PV) Calculations Using Tables

·         Present value (PV) Calculations Excel

·         Calculate Bond Issue Price

·         How to record bond retirement

·         Description of notes payable

·         How to create an amortization table

·         Adjusting entries for notes payable

·         How to record current and long-term liabilities

·         Types of bonds and bond characteristics

·         Calculate the effective amortization method

·         Explain what a capital lease and operating lease is

·         Comprehensive accounting problem

## Content

Introduction

Introduction

PDF - 10 Bond & Note Payable Introduction

10 Bonds & Notes Payable Introduction

Accounting Comic Break

Bonds - Market Rate vs Contract Rate

2 Bonds Market Rate vs Contract Rate

PDF - 20 Bonds Issued at Par

20 Bond Issued at Par

PDF - 25 Bond Market Price vs Contract Rate

25 Bonds Market Rate vs Contract Rate

Worksheet - 20 Bond Issued at Par

Worksheet - 25 Bond Interest Journal Entry

Bonds Issued at Premium

3 Bonds Issued at Premium

PDF - 50 Bond Issued at Premium

50 Bond Issued at Premium

Worksheet - 50 Bond Issue at Premium

PDF - 60 Amortization Premium & Recording Interest

60 Premium Amortization & Interest

Worksheet - 55 Bond Premium and Interest Journal Entry

10 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Bonds Issued at Discount

4 Bonds Issued at Discount

PDF - 40 Amortizing Discount & Recording Interest

PDF - 30 Bonds Issued at Discount

40 Issue bond at a discount%2C calculate%2C and record interest payment

Worksheet - 30 Bond Issued at Discount

Worksheet - 35 Bond Discount & Interest

Worksheet - 1400.10 Record issuance of bond at a discount amortize straight

Worksheet - 1400.20 Record issuance of bond at a discount amortize straight l

Worksheet - 1400.40 Record issuance of bond at a premium amortize straight

Worksheet - 1400.50 Record issuance of bond at a premium amortize straigh

20 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Present Value - Bond Price

5 Present Value Bond Price

PDF - 70 Bond Present Value Formula

70 Bonds Present Value Formulas

Worksheet - 70 Bond Present Value Formula

PDF - 80 Bond Present Value Tables

80 Bond Present Value Tables

Worksheet - 80 Bond Present Value Tables

PDF - 90 Bond Present Excel Formulas

90 Bond Price Excel Formula

Worksheet - 90 Bond Present Value Excel

30 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Bond Retirement

6 Bond Retirement

PDF - 100 Bond Retirement

100 Bond Retirement

Worksheet - 100 Bond Retirement

40 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Notes Payable Introduction

7 Notes Payable Introduction

PDF - 110 Notes Payable Introduction

110 Notes Payable Introduction

PDF - 120 Installment Note Journal Entry

120 Note Payable Journal Entry

Worksheet - 120 Installment Note Initial Journal Entry

50 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Amortization Schedule - Notes Payable

8 Amortization Schedule Notes Payable

PDF - 130 Notes Payable Amortization

130 Amortization Schedule

PDF - 140 Notes Payable Interest Payments

140 Notes Payable Payments Journal Entry

Worksheet - 130 Note Payable Amortization

Worksheet - 140 Note payable interest payments

60 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Notes Payable Adjusting Entries

9 Notes Payable Adjusting Entries

PDF - 150 Adjusting Entry - Notes Payable

150 Notes Payable Adjusting Entry

Worksheet - 150 Note Payable Adjusting Entry 1

Worksheet - 160 Note Payable Adjusting Entry 2

70 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Financial Statements - Long Term Liabilities

10 Financial Statements Long Term Liabilities

PDF - 170 Liabilities - Current vs Non Current

170 Notes Payable Current vs. Non Current

Worksheet - 170 FS St LT One Loan 1 TB Account

Worksheet - 180 FS St LT Loan 1 loan 2 TB Accounts

Worksheet - 190 FS ST LT 2 loans 1 TB account

Worksheet - 200 FS ST LT 2 Loans 1 ST 1 LT TB account

Worksheet - 210 FS ST LT 2 Loans 2 Loan Account TB

Worksheet - 220 FS 2 Loans 4 Accounts TB

80 Multiple Choice Question – Long Term Liabilities

Accounting Comic Break

Bond Characteristics and Types

11 Bond Characteristics and Types

PDF - 230 Bond types

230 Bond Characteristics

90 Multiple Choice Question – Long Term Liabilities

Short Calculation

Accounting Comic Break

Effective Method - Amortization Bond Discount & Premium

12 Effective Method Amortization Bond Discount & Premium

PDF - 230 Effective Interest Discount Amortization

235 Discount Amortization Effective Method

Worksheet - 230 Effective Interest Discount Amortization

PDF - 240 Effective Interest Premium Amortization

240 Premium Amortization Effective Method

Worksheet - 240 Effective Interest Premium Amortization

100 Multiple Choice Question – Long Term Liabilities

Short Calculation

Accounting Comic Break

Leases - Operating vs. Capital

13 Leases Operating vs. Capital

PDF - 250 Leases

250 Leases Capital vs. Operating

Accounting Comic Break

Comprehensive Problem

14 Comprehensive Problem

1 Accounting%2C Financial - Comp Prob Service Co 1 Part 1

2 Accounting%2C Financial - Comp Prob Service Co 1 Part 2

3 Accounting%2C Financial - Comp Prob Service Co 1 Part 3

4 Accounting%2C Financial - Comp Prob Service Co 1 Part 4

5 Accounting%2C Financial - Comp Prob Service Co 1 Adjusting Entries part 5

6 Comp Prob Service Co 1 Adjusting Entries part 6

7 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 7

8 Accounting%2C Financial - Comp Prob Service Co 1 Financial Statements part 8

Definitions & Key Terms

15 Definitions & Key Terms

Annuity Definition - What is Annuity

Bond Definition - What is Bond

Book Value of Bonds - What is Book Value of Bonds

Carrying Value of Bonds Definition - What is Carrying Value

Lease Definition - What is a Lease

## Reviews

I
Ivana8 September 2018

A great course as usual by the same instructor! It's down-to-earth (applicable to real business situations), contains all aspects to the topics being discussed, delivered in an easy-to-understand and follow way. Bob has loads of experience in these topics and is very responsive to any issues the student might have and always gives detailed answers. I found this course extremely helpful, because some of these debt-instruments are not used in my country, and as I intend to work for US clients I needed to acquire exact knowledge as to how they function. This course enabled me to achieve that. I highly recommend the course!

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Udemy ID

## 8/9/2018

Course created date

## 7/2/2019

Course Indexed date
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