ACC 304 All Assignments ACC 304 All Assignments | Page 230

11) A typical provision is:
12) In determining the amount of a provision, a company using IFRS
should generally measure:
ACC 304 Week 8 Chapter 14 Homework
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ACC 304 Week 8 Chapter 14 Homework
1)
Teton Corporation issued $704,000 of 9% bonds on November 1,
2014, for $745,018. The bonds were dated November 1, 2014, and
mature in 8 years, with interest payable each May 1 and November 1.
Teton uses the effective-interest method with an effective rate of 8%.
Prepare Teton’s December 31, 2014, adjusting entry. (Round answers
to 0 decimal places, e.g. 38,548. 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.)