ACC 304 All Assignments ACC 304 All Assignments | Page 229

Make all the journal entries necessary to record the transactions above
using appropriate dates. (If no entry is required, select "No Entry" for
the account titles and enter 0 for the amounts. Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Date Account Titles and Explanation
Debit Credit
7) Edwardson Corporation’s year-end is December 31. Assuming that
no adjusting entries relative to the transactions above have been
recorded, prepare any adjusting journal entries concerning interest that
are necessary to present fair financial statements at December 31.
Assume straight-line amortization of discounts. (If no entry is required,
select "No Entry" for the account titles and enter 0 for the amounts.
Credit account titles are automatically indented when amount is
entered. Do not indent manually. Record journal entries in the order
presented in the problem.)
8) The presentation of current and non-current liabilities in the
statement of financial position (balance sheet):
9) In accounting for short-term debt expected to be refinanced to
long-term debt:
10) Under IFRS, a provision is the same as: