中級會計學(xué)知識論述(英文版)課件

BondsandLong-TermNotes9BondsandLong-TermNotes9BondsBondSellingPriceBondCertificateInterestPaymentsFaceValuePaymentatEndofBondTermAtBondIssuanceDateCompanyIssuingBondsSubsequentPeriodsInvestorBuyingBondsCompanyIssuingBondsInvestorBuyingBondsBondsBondSellingPriceBondCRecordingBondsatIssuanceOnJanuary1,2011,MasterwearIndustriesissued$700,000of12%bonds.Interestof$42,000ispayablesemiannuallyonJune30andDecember31.Thebondsmatureinthreeyears.TheentirebondissuewassoldinaprivateplacementtoUnitedIntergroup,Inc.atfaceamount.AtIssuance(January1)Masterwear(Issuer)Cash 700,000 Bondspayable 700,000United(Investor)Investmentinbonds(faceamount) 700,000 Cash 700,000RecordingBondsatIssuanceOnDeterminingtheSellingPriceDeterminingtheSellingPriceDeterminingtheSellingPriceOnJanuary1,2011,MasterwearIndustriesissued$700,000of12%bonds,datedJanuary1.InterestispayablesemiannuallyonJune30andDecember31.Thebondsmatureinthree

years.Themarketyieldforbondsofsimilarriskandmaturityis14%.TheentirebondissuewaspurchasedbyUnitedIntergroup.Becauseinterestispaidsemiannually,thepresentvaluecalculationsuse:(a)thesemiannualstatedrate(6%),(b)thesemiannualmarketrate(7%),and(c)6(3x2)semi-annualperiods.Presentvalueofanordinaryannuityof$1:n=6,i=7%presentvalueof$1:n=6,i=7%DeterminingtheSellingPriceOBondsIssuedataDiscountMasterwear(Issuer)Cash 666,633Discountonbondspayable 33,367 Bondspayable 700,000United(Investor)Investmentinbonds 700,000 Discountonbondinvestment 33,367 Cash 666,633BondsIssuedataDiscountMastDeterminingInterest–

EffectiveInterestMethodInteresteachperiodisrecordedastheeffectivemarketrateofinterestmultipliedbytheoutstandingbalanceofthedebt(duringtheinterestperiod).Interestisrecordedasexpensetotheissuerandrevenuetotheinvestor.Forthefirstsix-monthinterestperiodtheamountiscalculatedasfollows:$666,633 × (14%÷2) = $46,664OutstandingBalance EffectiveRate EffectiveInterestDeterminingInterest–

EffectRecordingInterestExpenseTheeffectiveinterestiscalculatedeachperiodasthemarketratetimestheamountofthedebtoutstandingduringtheinterestperiod.AttheFirstInterestDate(June30)Masterwear(Issuer)Interestexpense 46,664 Discountonbondspayable 4,664 Cash 42,000United(Investor)Cash 42,000Discountonbondinvestment 4,664 Investmentrevenue 46,664$700,000×(12%÷2)=$42,000$666,633×(14%÷2)=$46,664$46,664-$42,000=$4,664RecordingInterestExpenseTheBondAmortizationScheduleHereisabondamortizationscheduleshowingthecashinterest,effectiveinterest,discountamortization,andthecarryingvalueofthebonds.$666,633+$4,664=$671,297BondAmortizationScheduleHereBondIssuedatPremiumOnJanuary1,2011,MasterwearIndustriesissued$700,000of12%bonds,datedJanuary1.InterestispayablesemiannuallyonJune30andDecember31.Thebondsmatureinthree

years.Themarketyieldforbondsofsimilarriskandmaturityis10%.TheentirebondissuewaspurchasedbyUnitedIntergroup.Presentvalueofanordinaryannuityof$1:n=6,i=6%presentvalueof$1:n=6,i=5%BondIssuedatPremiumOnJanuaPremiumAmortizationScheduleHereisabondamortizationscheduleshowingthecashinterest,effectiveinterest,premiumamortization,andthecarryingvalueofthebonds.$735,533-$5,223=$730,310$735,533×5%=$36,777PremiumAmortizationScheduleHBondsSoldataPremiumMasterwear(Issuer)Cash 735,533 Premiumonbondspayable 35,533 Bondspayable 700,000United(Investor)Investmentinbonds 700,000Premiumonbondinvestment 35,533 Cash 735,533Interestexpenseandinterestrevenuewillberecognizedinamannerconsistentwithbondsissuedatadiscount.BondsSoldataPremiumMasterwPremiumandDiscountAmortizationCompared1/1/1112/31/13$700,000$735,533$666,633PremiumAmortizationDiscountAmortizationPremiumandDiscountAmortizatWhenFinancialStatementsArePreparedBetweenInterestDatesOnMar1,2011,MasterwearIndustriesissued$700,000of12%bonds.InterestispayablesemiannuallyonAug31andFeb28.Thebondsmatureinthree

years.Themarketyieldforbondsofsimilarriskandmaturityis14%.TheentirebondissuewaspurchasedbyUnitedIntergroupatacostof$666,633.$700,000×(12%÷2)=$42,000$666,633×(14%÷2)=$46,664Semi-annualStatedInterestAug31,2011EffectiveInterestWhenFinancialStatementsAreWhenFinancialStatementsArePreparedBetweenInterestDatesbeforethesecondinterestdateofFeb28,sowemustaccrueinterestfor4monthsfromAug31toDec31.Year-endaccrualofinterestexpenseandinterestincome.Masterwear(Issuer)Interestexpense 31,327 Discountonbondspayable 3,327 Interestpayable 28,000United(Investor)Interestreceivable 28,000Discountonbondinvestment 3,327 Investmentrevenue 31,327$42,000×4/6=$28,000$671,297×7%×4/6=$31,327$31,327-$28,000=$3,327WhenFinancialStatementsAreWhenFinancialStatementsArePreparedBetweenInterestDatesOnFeb28,thenextinterestpaymentdate,

thefollowingentrieswouldberecorded.Masterwear(Issuer)Interestexpense 23,496Interestpayable 21,000 Discountonbondspayable 2,496 Cash 42,000United(Investor)Cash 42,000Discountonbondinvestment 2,496 Interestreceivable 21,000 Investmentrevenue 23,496WhenFinancialStatementsAreLong-TermNotesBankPromissory

Note(NotePayable)Company(Borrower)Property,goods,orservices.Theliability,long-termnotepayable,isreportedatitspresentvalue,similartotheaccountingforbondspayable.Long-TermNotesBankPromissory

Long-TermNotesOnJanuary1,2011,SkillGraphics,Inc.borrowed$700,000cashfromFirstBankandissueda3-year,$700,000promissorynote.Interestof$42,000waspayablesemiannuallyonJune30andDecember31.January1,AtIssuanceCash 700,000 long-termNotepayable 700,000Long-TermNotesOnJanuary1,2Long-TermNotesAtEachoftheSixInterestDatesAtMaturityInterestexpense 42,000 Cash 42,000long-termNotespayable 700,000 Cash 700,000Long-TermNotesAtEachoftheInstallmentNotes

分期付款Tocomputecashpaymentusepresentvaluetables.Eachpaymentincludesbothaninterestamountandaprincipalamount.Interestexpenseorrevenue:

Effectiveinterestrate×OutstandingbalanceofdebtInterestexpenseorrevenuePrincipalreduction:Cashamount–InterestcomponentPrincipalreductionperperiodInstallmentNotes

分期付款Tocompu中級會計學(xué)知識論述(英文版)課件InstallmentNotesOnJanuary2,2011,MatrixInc.leasedanequipment(fairvalueis2,500,000,usefullifeis5years)for3years.900,000leaseexpensestobepaidonDecember31,eachyear.Themarketrateofinterestis8%.

PreparetherequiredjournalentriesforMatrixInc.2,319,390/2,500,000=Called:financinglease融資租賃

Present

Amount

PVFactor

ValueLease

900,000×

2,5771=2,319,390

InstallmentNotesOnJanuary2,Equipment_financinglease

2,319,390Discountonpayable380,610 long-termpayable(長期應(yīng)付款)2,700,000AttheleaseDate(January1)Equipment_financinglease中級會計學(xué)知識論述(英文版)課件InstallmentNotesInstallmentNotesInstallmentNotesInstallmentNotesInstallmentNotesOnDec31,2011Interestexpense 185,551.20Discountonpayable 185,551.20long-termpayable900,000 Cash 900,000InstallmentNotesOnDec31,20InstallmentNotesOnDec31,2012Interestexpense 128,395.3Discountonpayable 128,395.3long-termpayable900,000 Cash 900,000InstallmentNotesOnDec31,20InstallmentNotesOnDec31,2013Interestexpense 66,663.5Discountonpayable 66,663.5long-termpayable900,000 Cash 900,000InstallmentNotesOnDec31,20EarlyExtinguishmentofDebt

提前清償債務(wù)Debtretiredatmaturityresultsinnogainsorlosses.Debtretiredbeforematuritymayresultinangainorlossonextinguishment.CashProceeds–BookValue=GainorLossBUTEarlyExtinguishmentofDebt

提EarlyExtinguishmentofDebtIllustration–OnJanuary1,2011,MasterwearIndustriescalledits$700,000,12%bondswhentheircarryingamountwas$676,290.Theindenturespecifiedacallpriceof$685,000.Thebondswereissuedpreviouslyatapricetoyield14%.$685,000–676,290$700,000–676,290Masterwear(Issuer)Bondspayable 700,000Lossonearlyextinguishment 8,710 Discountonbondspayable 23,710 Cash 685,000EarlyExtinguishmentofDebtIlConvertibleBonds

可轉(zhuǎn)換債券Somebondsmaybeconvertedintocommonstockattheoptionoftheholder.包括負(fù)債成份(該債券的現(xiàn)值)和權(quán)益成份(發(fā)行價格扣除負(fù)債部分).負(fù)債成份需按照實際利率確認(rèn)費用.BondsintoStockConvertibleBonds

可轉(zhuǎn)換債券SomeboConvertibleBondsOnJanuary1,2011,HTLManufacturersissued$100,000,000of6%convertibledebentures,5years,marketrateis9%.Thebondsareconvertibleattheoptionoftheholderinto$1percommonstockataconversionratioof10sharesper$100bond.AtIssuance,January1,2011

Present

Amount

PVFactor

Value

Interest

6,000,000×

3.8897=

Principal

100,000,000×0.6499=

Presentvalueofbonds

88,328,200

ConvertibleBondsOnJanuary1,Cash 100,000,000DiscountonConvertiblebondspayable11,671,800 Convertiblebondspayable 100,000,000 contributedsurplus(資本公積) 11,671,800AtIssuance,January1,2011AtIssuance,January1,201188,328,200*9%=7,949,538100,000,000*6%=6,000,000Interestexpense7,949,538 DiscountonConvertiblebondspayable1,949,538Interestpayable6,000,000OnDec31,201188,328,200*9%=7,949,538OnDecConvertibleBondsAssumethebondholderexercisetheiroptiontoconvertthebondsintosharesofstockonJan1,2012Convertiblebondspayable 100,000,000contributedsurplus 11,671,800 Paid-incapital 10,000,000DiscountonConvertiblebondspayable9,722,262contributedsurplus91,949,538100,000bonds/100×10shares×$1par=$10,000,000pervalueConvertibleBondsAssumetheboTroubleddebtrestructuring

債務(wù)重組troubleddebtrestructuring:

Whenchangingtheoriginaltermsofadebtagreementismotivatedbyfinancialdifficultiesexperiencedbythedebtor.Troubleddebtrestructuring

債TroubleddebtrestructuringAtroubleddebtrestructuringmaybeachievedineitheroftwoways:

1.Thedebtmaybesettledatthetimeoftherestructuring.2.Thedebtmaybecontinued,butwithmodifiedterms.TroubleddebtrestructuringAt

DebtIsSettled

清償債務(wù)

Thepaymenttosettleadebtinatroubleddebtrestructuringmightbecash,oranon-cashasset,orevensharesofthedebtor’sstock.DebtIsSettled

清償債務(wù)Thepay中級會計學(xué)知識論述(英文版)課件中級會計學(xué)知識論述(英文版)課件DebtIsSettledEagleBoatsagreestosettleMatrixInc.$30milliondebtinexchangeforpropertyhavingafairvalueof$20million.ThecarryingamountofthepropertyonMatrix’sbooksis$17million:($inmillions)Land($20millionminus$17million).....................3Gainondispositionofassets.........................................3Accountpayable(carryingamount)............................30Gainontroubleddebtrestructuring(營業(yè)外收入_債務(wù)重組利得)10Land(fairvalue).............................................................20DebtIsSettledEagleBoatsagrDebtIsSettledEagleBoatsagreestosettleMatrixInc.1,000,000debtinexchangeforequipmenthavingafairvalueof900,000.EagleBoatshasrecorded40,000ofallowanceforuncollectibleaccounts.Theinitialcostoftheequipmentis1,100,000,accumulateddepreciationis400,000.PreparethejournalentryforMatrixIncAccountpayable1,000,000Accumulateddepreciation400,000Fixedassets_equipment1,100,000Non-operationrevenues_saleofequipment200,000Gainontroubleddebtrestructuring(營業(yè)外收入_債務(wù)重組利得)100,000DebtIsSettledEagleBoatsagrPreparethejournalentryforEagleBoats

Fixedassets_equipment900,000lossontroubleddebtrestructuring(營業(yè)外支出_債務(wù)重組損失)60,000allowanceforuncollectibleaccounts40,000Accountreceivable1,000,000PreparethejournalentryforDebtIsSettledEagleBoatsagreestosettleMatrixInc.1,000,000debtinexchangeforinventorieshavingafairvalueof800,000,thecostis500,000.EagleBoatshasrecorded120,000ofallowanceforuncollectibleaccounts.Theinitialcostoftheequipmentis1,100,000,accumulateddepreciationis400,000.PreparethejournalentryforMatrixIncAccountpayable1,000,000Salesrevenues800,000Gainontroubleddebtrestructuring(營業(yè)外收入_債務(wù)重組利得)200,000Thecostofgoodssold500,000inventory500,000DebtIsSettledEagleBoatsagrPreparethejournalentryforEagleBoats

Inventory

800,000lossontroubleddebtrestructuring(營業(yè)外支出_債務(wù)重組損失)80,000allowanceforuncollectibleaccounts120,000Accountreceivable1,000,000Preparethejournalentryfor

DebtIsContinued,butwithModifiedTerms

修改債務(wù)條件BrillardPropertiesowesFirstPrudentBank$30millionundera10%notewithtwoyearsremainingtomaturity.Duetofinancialdifficultiesofthedeveloper,thepreviousyearsinterest($3million)wasnotpaid.FirstPrudentBankagreesto:1.Forgivetheinterestaccruedfromlastyear.2.Reducetheremainingtwointerestpaymentsto$2millioneach.3.Reducetheprincipalto$25million.($inmillions)Accruedinterestpayable..................4Gainondebtrestructuring(營業(yè)外收入_債務(wù)重組利得)......4DebtIsContinued,butwithMAtEachoftheTwoInterestDates($inmillions)Accruedinterestpayable...........................2Cash(revisedinterestamount)........................2AtMaturityNotepayable.......................................25Cash(revisedprincipalamount)..................25

AtEachoftheTwoInterestDaEndofChapter9EndofChapter9BondsandLong-TermNotes9BondsandLong-TermNotes9BondsBondSellingPriceBondCertificateInterestPaymentsFaceValuePaymentatEndofBondTermAtBondIssuanceDateCompanyIssuingBondsSubsequentPeriodsInvestorBuyingBondsCompanyIssuingBondsInvestorBuyingBondsBondsBondSellingPriceBondCRecordingBondsatIssuanceOnJanuary1,2011,MasterwearIndustriesissued$700,000of12%bonds.Interestof$42,000ispayablesemiannuallyonJune30andDecember31.Thebondsmatureinthreeyears.TheentirebondissuewassoldinaprivateplacementtoUnitedIntergroup,Inc.atfaceamount.AtIssuance(January1)Masterwear(Issuer)Cash 700,000 Bondspayable 700,000United(Investor)Investmentinbonds(faceamount) 700,000 Cash 700,000RecordingBondsatIssuanceOnDeterminingtheSellingPriceDeterminingtheSellingPriceDeterminingtheSellingPriceOnJanuary1,2011,MasterwearIndustriesissued$700,000of12%bonds,datedJanuary1.InterestispayablesemiannuallyonJune30andDecember31.Thebondsmatureinthree

years.Themarketyieldforbondsofsimilarriskandmaturityis14%.TheentirebondissuewaspurchasedbyUnitedIntergroup.Becauseinterestispaidsemiannually,thepresentvaluecalculationsuse:(a)thesemiannualstatedrate(6%),(b)thesemiannualmarketrate(7%),and(c)6(3x2)semi-annualperiods.Presentvalueofanordinaryannuityof$1:n=6,i=7%presentvalueof$1:n=6,i=7%DeterminingtheSellingPriceOBondsIssuedataDiscountMasterwear(Issuer)Cash 666,633Discountonbondspayable 33,367 Bondspayable 700,000United(Investor)Investmentinbonds 700,000 Discountonbondinvestment 33,367 Cash 666,633BondsIssuedataDiscountMastDeterminingInterest–

EffectiveInterestMethodInteresteachperiodisrecordedastheeffectivemarketrateofinterestmultipliedbytheoutstandingbalanceofthedebt(duringtheinterestperiod).Interestisrecordedasexpensetotheissuerandrevenuetotheinvestor.Forthefirstsix-monthinterestperiodtheamountiscalculatedasfollows:$666,633 × (14%÷2) = $46,664OutstandingBalance EffectiveRate EffectiveInterestDeterminingInterest–

EffectRecordingInterestExpenseTheeffectiveinterestiscalculatedeachperiodasthemarketratetimestheamountofthedebtoutstandingduringtheinterestperiod.AttheFirstInterestDate(June30)Masterwear(Issuer)Interestexpense 46,664 Discountonbondspayable 4,664 Cash 42,000United(Investor)Cash 42,000Discountonbondinvestment 4,664 Investmentrevenue 46,664$700,000×(12%÷2)=$42,000$666,633×(14%÷2)=$46,664$46,664-$42,000=$4,664RecordingInterestExpenseTheBondAmortizationScheduleHereisabondamortizationscheduleshowingthecashinterest,effectiveinterest,discountamortization,andthecarryingvalueofthebonds.$666,633+$4,664=$671,297BondAmortizationScheduleHereBondIssuedatPremiumOnJanuary1,2011,MasterwearIndustriesissued$700,000of12%bonds,datedJanuary1.InterestispayablesemiannuallyonJune30andDecember31.Thebondsmatureinthree

years.Themarketyieldforbondsofsimilarriskandmaturityis10%.TheentirebondissuewaspurchasedbyUnitedIntergroup.Presentvalueofanordinaryannuityof$1:n=6,i=6%presentvalueof$1:n=6,i=5%BondIssuedatPremiumOnJanuaPremiumAmortizationScheduleHereisabondamortizationscheduleshowingthecashinterest,effectiveinterest,premiumamortization,andthecarryingvalueofthebonds.$735,533-$5,223=$730,310$735,533×5%=$36,777PremiumAmortizationScheduleHBondsSoldataPremiumMasterwear(Issuer)Cash 735,533 Premiumonbondspayable 35,533 Bondspayable 700,000United(Investor)Investmentinbonds 700,000Premiumonbondinvestment 35,533 Cash 735,533Interestexpenseandinterestrevenuewillberecognizedinamannerconsistentwithbondsissuedatadiscount.BondsSoldataPremiumMasterwPremiumandDiscountAmortizationCompared1/1/1112/31/13$700,000$735,533$666,633PremiumAmortizationDiscountAmortizationPremiumandDiscountAmortizatWhenFinancialStatementsArePreparedBetweenInterestDatesOnMar1,2011,MasterwearIndustriesissued$700,000of12%bonds.InterestispayablesemiannuallyonAug31andFeb28.Thebondsmatureinthree

years.Themarketyieldforbondsofsimilarriskandmaturityis14%.TheentirebondissuewaspurchasedbyUnitedIntergroupatacostof$666,633.$700,000×(12%÷2)=$42,000$666,633×(14%÷2)=$46,664Semi-annualStatedInterestAug31,2011EffectiveInterestWhenFinancialStatementsAreWhenFinancialStatementsArePreparedBetweenInterestDatesbeforethesecondinterestdateofFeb28,sowemustaccrueinterestfor4monthsfromAug31toDec31.Year-endaccrualofinterestexpenseandinterestincome.Masterwear(Issuer)Interestexpense 31,327 Discountonbondspayable 3,327 Interestpayable 28,000United(Investor)Interestreceivable 28,000Discountonbondinvestment 3,327 Investmentrevenue 31,327$42,000×4/6=$28,000$671,297×7%×4/6=$31,327$31,327-$28,000=$3,327WhenFinancialStatementsAreWhenFinancialStatementsArePreparedBetweenInterestDatesOnFeb28,thenextinterestpaymentdate,

thefollowingentrieswouldberecorded.Masterwear(Issuer)Interestexpense 23,496Interestpayable 21,000 Discountonbondspayable 2,496 Cash 42,000United(Investor)Cash 42,000Discountonbondinvestment 2,496 Interestreceivable 21,000 Investmentrevenue 23,496WhenFinancialStatementsAreLong-TermNotesBankPromissory

Note(NotePayable)Company(Borrower)Property,goods,orservices.Theliability,long-termnotepayable,isreportedatitspresentvalue,similartotheaccountingforbondspayable.Long-TermNotesBankPromissory

Long-TermNotesOnJanuary1,2011,SkillGraphics,Inc.borrowed$700,000cashfromFirstBankandissueda3-year,$700,000promissorynote.Interestof$42,000waspayablesemiannuallyonJune30andDecember31.January1,AtIssuanceCash 700,000 long-termNotepayable 700,000Long-TermNotesOnJanuary1,2Long-TermNotesAtEachoftheSixInterestDatesAtMaturityInterestexpense 42,000 Cash 42,000long-termNotespayable 700,000 Cash 700,000Long-TermNotesAtEachoftheInstallmentNotes

分期付款Tocomputecashpaymentusepresentvaluetables.Eachpaymentincludesbothaninterestamountandaprincipalamount.Interestexpenseorrevenue:

Effectiveinterestrate×OutstandingbalanceofdebtInterestexpenseorrevenuePrincipalreduction:Cashamount–InterestcomponentPrincipalreductionperperiodInstallmentNotes

分期付款Tocompu中級會計學(xué)知識論述(英文版)課件InstallmentNotesOnJanuary2,2011,MatrixInc.leasedanequipment(fairvalueis2,500,000,usefullifeis5years)for3years.900,000leaseexpensestobepaidonDecember31,eachyear.Themarketrateofinterestis8%.

PreparetherequiredjournalentriesforMatrixInc.2,319,390/2,500,000=Called:financinglease融資租賃

Present

Amount

PVFactor

ValueLease

900,000×

2,5771=2,319,390

InstallmentNotesOnJanuary2,Equipment_financinglease

2,319,390Discountonpayable380,610 long-termpayable(長期應(yīng)付款)2,700,000AttheleaseDate(January1)Equipment_financinglease中級會計學(xué)知識論述(英文版)課件InstallmentNotesInstallmentNotesInstallmentNotesInstallmentNotesInstallmentNotesOnDec31,2011Interestexpense 185,551.20Discountonpayable 185,551.20long-termpayable900,000 Cash 900,000InstallmentNotesOnDec31,20InstallmentNotesOnDec31,2012Interestexpense 128,395.3Discountonpayable 128,395.3long-termpayable900,000 Cash 900,000InstallmentNotesOnDec31,20InstallmentNotesOnDec31,2013Interestexpense 66,663.5Discountonpayable 66,663.5long-termpayable900,000 Cash 900,000InstallmentNotesOnDec31,20EarlyExtinguishmentofDebt

提前清償債務(wù)Debtretiredatmaturityresultsinnogainsorlosses.Debtretiredbeforematuritymayresultinangainorlossonextinguishment.CashProceeds–BookValue=GainorLossBUTEarlyExtinguishmentofDebt

提EarlyExtinguishmentofDebtIllustration–OnJanuary1,2011,MasterwearIndustriescalledits$700,000,12%bondswhentheircarryingamountwas$676,290.Theindenturespecifiedacallpriceof$685,000.Thebondswereissuedpreviouslyatapricetoyield14%.$685,000–676,290$700,000–676,290Masterwear(Issuer)Bondspayable 700,000Lossonearlyextinguishment 8,710 Discountonbondspayable 23,710 Cash 685,000EarlyExtinguishmentofDebtIlConvertibleBonds

可轉(zhuǎn)換債券Somebondsmaybeconvertedintocommonstockattheoptionoftheholder.包括負(fù)債成份(該債券的現(xiàn)值)和權(quán)益成份(發(fā)行價格扣除負(fù)債部分).負(fù)債成份需按照實際利率確認(rèn)費用.BondsintoStockConvertibleBonds

可轉(zhuǎn)換債券SomeboConvertibleBondsOnJanuary1,2011,HTLManufacturersissued$100,000,000of6%convertibledebentures,5years,marketrateis9%.Thebondsareconvertibleattheoptionoftheholderinto$1percommonstockataconversionratioof10sharesper$100bond.AtIssuance,January1,2011

Present

Amount

PVFactor

Value

Interest

6,000,000×

3.8897=

Principal

100,000,000×0.6499=

Presentvalueofbonds

88,328,200

ConvertibleBondsOnJanuary1,Cash 100,000,000DiscountonConvertiblebondspayable11,671,800 Convertiblebondspayable 100,000,000 contributedsurplus(資本公積) 11,671,800AtIssuance,January1,2011AtIssuance,January1,201188,328,200*9%=7,949,538100,000,000*6%=6,000,000Interestexpense7,949,538 DiscountonConvertiblebondspayable1,949,538Interestpayable6,000,000OnDec31,201188,328,200*9%=7,949,538OnDecConvertibleBondsAssumethebondholderexercisetheiroptiontoconvertthebondsintosharesofstockonJan1,2012Convertiblebondspayable 100,000,000contributedsurplus 11,671,800 Paid-incapital 10,000,000DiscountonConvertiblebondspayable9,722,262contributedsurplus91,949,538100,000bonds/100×10shares×$1par=$10,000,000pervalueConvertibleBondsAssumetheboTroubleddebtrestructuring

債務(wù)重組troubleddebtrestructuring:

Whenchangingtheoriginaltermsofadebtagreementismotivatedbyfinancialdifficultiesexperiencedbythedebtor.Troubleddebtrestructuring

債TroubleddebtrestructuringAtroubleddebtrestructuringmaybeachievedineitheroftwoways:

1.Thedebtmaybesettledatthetimeoftherestructuring.2.Thedebtmaybecontinued,butwithmodifiedterms.TroubleddebtrestructuringAt

DebtIsSettled

清償債務(wù)

Thepaymenttosettleadebtinatroub