Accounting-Bonds Payable, Notes Payable, Liabilities
4.4 (22 ratings)
10,907 students enrolled

# Accounting-Bonds Payable, Notes Payable, Liabilities

Accounting for bonds and notes payable including the recording of bond discount and premium, present value calculations.
4.4 (22 ratings)
10,907 students enrolled
Last updated 6/2019
English
English [Auto-generated]
Current price: \$119.99 Original price: \$199.99 Discount: 40% off
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This course includes
• 16 hours on-demand video
• 49 downloadable resources
• Full lifetime access
• Access on mobile and TV
• Assignments
• Certificate of Completion
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What you'll 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
Requirements
• We should have a basic understanding of financial accounting and debits and credits
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

•    Downloadable PDF Files

•    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

Who this course is for:
• Accounting students
• Business owner
• Anyone who whats to learn accounting
Course content
Expand all 145 lectures 15:55:05
+ Introduction
4 lectures 18:06
Preview 08:10
What is a bond?
Discussion Question
1 question
Accounting Comic Break
00:14
+ Bonds - Market Rate vs Contract Rate
9 lectures 24:19
2 Bonds Market Rate vs Contract Rate
00:22
PDF - 20 Bonds Issued at Par
00:08
20 Bond Issued at Par
05:36
PDF - 25 Bond Market Price vs Contract Rate
00:08
Excel Download
00:05
Worksheet - 20 Bond Issued at Par
05:32
Excel Download
00:05
Worksheet - 25 Bond Interest Journal Entry
04:51
Describe the characteristics of an installment note.
20 Discussion Question - Long Term Liabilities
1 question
+ Bonds Issued at Premium
11 lectures 53:48
3 Bonds Issued at Premium
01:02
PDF - 50 Bond Issued at Premium
00:08
50 Bond Issued at Premium
07:19
Excel Download
00:05
Worksheet - 50 Bond Issue at Premium
09:07
PDF - 60 Amortization Premium & Recording Interest
00:08
60 Premium Amortization & Interest
12:30
Excel Download
00:05
Worksheet - 55 Bond Premium and Interest Journal Entry
16:00
10 Multiple Choice Question – Long Term Liabilities
07:10
Explain the concept of present value and apply it to long term liabilities.
30 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:14
+ Bonds Issued at Discount
15 lectures 02:00:18
4 Bonds Issued at Discount
00:54
PDF - 40 Amortizing Discount & Recording Interest
00:08
PDF - 30 Bonds Issued at Discount
00:08
40 Issue bond at a discount%2C calculate%2C and record interest payment
26:14
Excel Download
00:05
Worksheet - 30 Bond Issued at Discount
09:12
Excel Download
00:05
Worksheet - 35 Bond Discount & Interest
18:04
Excel Download
00:05
Worksheet - 1400.10 Record issuance of bond at a discount amortize straight
15:33
Worksheet - 1400.20 Record issuance of bond at a discount amortize straight l
15:48
Worksheet - 1400.40 Record issuance of bond at a premium amortize straight
15:31
Worksheet - 1400.50 Record issuance of bond at a premium amortize straigh
13:50
20 Multiple Choice Question – Long Term Liabilities
04:27
Compare an operating lease and capital lease.
40 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:14
+ Present Value - Bond Price
15 lectures 01:36:07
5 Present Value Bond Price
02:36
PDF - 70 Bond Present Value Formula
00:08
70 Bonds Present Value Formulas
13:32
Excel Download
00:05
Worksheet - 70 Bond Present Value Formula
15:00
PDF - 80 Bond Present Value Tables
00:08
80 Bond Present Value Tables
13:32
Excel Download
00:05
Worksheet - 80 Bond Present Value Tables
11:02
PDF - 90 Bond Present Excel Formulas
00:08
90 Bond Price Excel Formula
12:32
Excel Download
00:05
Worksheet - 90 Bond Present Value Excel
20:03
30 Multiple Choice Question – Long Term Liabilities
06:57
Describe the pros and cons of financing using bonds.
50 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:14
+ Bond Retirement
7 lectures 28:42
6 Bond Retirement
00:54
PDF - 100 Bond Retirement
00:08
100 Bond Retirement
08:42
Excel Download
00:05
Worksheet - 100 Bond Retirement
11:37
40 Multiple Choice Question – Long Term Liabilities
07:02
Explain the journal entry for issuing bonds at par and the journal entries for interest payment.
60 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:14
+ Notes Payable Introduction
9 lectures 18:49
7 Notes Payable Introduction
00:49
PDF - 110 Notes Payable Introduction
00:08
110 Notes Payable Introduction
05:18
PDF - 120 Installment Note Journal Entry
00:08
120 Note Payable Journal Entry
03:46
Excel Download
00:05
Worksheet - 120 Installment Note Initial Journal Entry
03:32
50 Multiple Choice Question – Long Term Liabilities
04:50
Explain the journal entry for issuing bonds at a premium and the journal entries for interest and amortization.
70 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:13
+ Amortization Schedule - Notes Payable
11 lectures 51:21
8 Amortization Schedule Notes Payable
01:12
PDF - 130 Notes Payable Amortization
00:08
130 Amortization Schedule
11:51
PDF - 140 Notes Payable Interest Payments
00:08
140 Notes Payable Payments Journal Entry
07:11
Excel Download
00:05
Worksheet - 130 Note Payable Amortization
14:45
Excel Download
00:05
Worksheet - 140 Note payable interest payments
09:55
60 Multiple Choice Question – Long Term Liabilities
05:47
Explain the journal entry for issuing bonds at a discount and the journal entries for interest and amortization.
80 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:14
+ Notes Payable Adjusting Entries
9 lectures 32:00
9 Notes Payable Adjusting Entries
01:24
PDF - 150 Adjusting Entry - Notes Payable
00:08
150 Notes Payable Adjusting Entry
09:49
Excel Download
00:05
Worksheet - 150 Note Payable Adjusting Entry 1
07:10
Excel Download
00:05
Worksheet - 160 Note Payable Adjusting Entry 2
06:26
70 Multiple Choice Question – Long Term Liabilities
06:40
Compare amortization options for a bond discount.
90 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:13
+ Financial Statements - Long Term Liabilities
17 lectures 01:20:28
10 Financial Statements Long Term Liabilities
01:21
PDF - 170 Liabilities - Current vs Non Current
00:08
170 Notes Payable Current vs. Non Current
18:10
Excel Download
00:05
Worksheet - 170 FS St LT One Loan 1 TB Account
09:15
Excel Download
00:05
Worksheet - 180 FS St LT Loan 1 loan 2 TB Accounts
07:52
Excel Download
00:05
Worksheet - 190 FS ST LT 2 loans 1 TB account
07:45
Excel Download
00:05
Worksheet - 200 FS ST LT 2 Loans 1 ST 1 LT TB account
09:14
Excel Download
00:05
Worksheet - 210 FS ST LT 2 Loans 2 Loan Account TB
07:43
Excel Download
00:05
Worksheet - 220 FS 2 Loans 4 Accounts TB
11:05
80 Multiple Choice Question – Long Term Liabilities
07:11
Describe how to calculate bond price.
100 Discussion Question - Long Term Liabilities
1 question
Accounting Comic Break
00:14