1) Explain a current liability, and identify the major types of current liabilities

1) Explain a current liability, and identify the major types of current liabilities.

2. Describe the accounting for notes payable.

3. Explain the accounting for other current liabilities.

4. Explain why bonds are issued, and identify the types of bonds.         

5. Prepare the entries for the issuance of bonds and interest expense.

6. Describe the entries when bonds are redeemed,

7. Describe the accounting for long-term notes payable.

8. Identify the methods for the presentation and analysis of non-current liabilities.

  9.  Compute the market price of a bond.

10. Apply the effective-interest method of amortizing bond discount and bond premium.

11. Apply the straight-line method of amortizing bond discount and bond premium.