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Chapter 11 vocab

TermDefinition
amortization periodic transfer of the cost of an intangible asset to expense or of a bond discount to interest expense
annuity series of equal cash receipts spaced equally in time
bond form of interest-bearing note used by corporations to borrow on a long-term basis
bond indenture underlying contract between the company issuing bonds and the bondholders
carrying amount face amount of the bonds less any unamortized discount or plus any unamortized premium.
contract rate interest rate to be paid on the face amount of a bond as specified in the bond indenture
discount excess of the face amount of bonds over their issue price or the excess of the par value of stock over its issue price
effective interest rate method method of amortizing a bond discount or premium that provides for a constant rate of interest over the life of the bonds
effective rate of interest market rate of interest at the time bonds are issued
face amount amount specified on the face of a bond
future value value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today.
market rate of interest rate determined from sales and purchases of similar bonds
premium excess of the issue price of bonds over their face amount
present value value of an asset or cash at present that is equivalent in value to a specified sum in the future
present value of an annuity amount of cash needed today to yield a series of equal net cash flows at fixed time intervals in the future
straight line method of amortization method of amortizing a bond discount or premium that provides for equal amounts of discount to be written off to interest expense each period.
times interest earned ratio that assesses the risk that bondholders will not receive their interest payments =DIVIDE (income before income tax expense + interest expense) / (interest expense)
Created by: hellocookies
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