l*****a
发帖数: 67 | 1 这道题看了解释也没懂，觉得答案不对，应该选A，因为是12个月以内就要due 的，所
以应该是current liability. 我对这个比较晕，请牛人帮我看看这道题。谢谢！！
CPA-00676 Type1 M/C A-D Corr Ans: C PM#63 F 5-99
136. CPA-00676 May 95 #5 Page 34
Cali, Inc., had a $4,000,000 note payable due on March 15, 1995. On January
28, 1995, before the issuance of its 1994 financial statements, Cali issued
long-term bonds in the amount of $4,500,000. Proceeds from the bonds were
used to repay the note when it came due. How should Cali classify the note
in its December 31, 1994, financial statements?
a. As a current liability, with separate disclosure of the note refinancing.
b. As a current liability, with no separate disclosure required.
c. As a noncurrent liability, with separate disclosure of the note
refinancing.
d. As a noncurrent liability, with no separate disclosure required.
CPA-00676 Explanation
Rule: Bonds or notes due within one year are shown as "noncurrent" if the
issuer has the intent and ability to refinance with a new issuance of long-
term debt. This intent and ability must usually be demonstrated through
refinancing of the debt after the balance sheet date, but before the
issuance of the financial statements. Separate disclosure of the refinancing
is required.
Choice "c" is correct. As a noncurrent liability, with separate disclosure
of the note refinancing.
Choices "a", "b", and "d" are incorrect, per the above rule. | o*******g
发帖数: 47 | 2 我的理解是：答案里说的是把note payable refinance到long term bonds.所以即使这
个note是due within 12 months,也要归入non current. | l****z
发帖数: 29846 | 3 是, 答案写了:if the issuer has the intent and ability to refinance with a
new issuance of long-term debt
【在 o*******g 的大作中提到】
: 我的理解是：答案里说的是把note payable refinance到long term bonds.所以即使这
: 个note是due within 12 months,也要归入non current.
| l*****a
发帖数: 67 | |
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