Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Fundamental Accounting Equation

Financial Accounting

1. Introduction to Accounting

Fundamental Accounting Equation

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Multiple Choice

The bond carrying value can be determined by which of the following formulas?

Face value of bond plus accrued interest

Face value of bond plus unamortized discount (or minus unamortized premium)

Face value of bond minus interest payments made to date

Face value of bond minus unamortized discount (or plus unamortized premium)

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Verified step by step guidance

Understand the concept of bond carrying value: The bond carrying value represents the net amount at which a bond is reported on the balance sheet. It accounts for the bond's face value adjusted for any unamortized premium or discount.

Identify the components of the formula: The bond carrying value is calculated by taking the face value of the bond and adjusting it for the unamortized premium or discount. A premium increases the carrying value, while a discount decreases it.

Clarify the terms: An unamortized premium is the portion of the bond premium that has not yet been expensed through amortization. Similarly, an unamortized discount is the portion of the bond discount that has not yet been expensed.

Write the formula: The bond carrying value can be expressed mathematically as:

Carrying Value = Face Value + Unamortized Premium - Unamortized Discount

Apply the formula: To determine the bond carrying value, substitute the face value, unamortized premium, and unamortized discount into the formula. Ensure you adjust correctly based on whether there is a premium or discount.