Chapter 14, Problem 1BTN

To determine

Long Term Debt:

Any amount that is owed for more than 12 months from the date of the balance sheet is known as Long Term Debt.

To determine:

1. Identify the long-term debt as reported on its balance sheet at September 28, 2013.

2. Compute the interest to be paid on convertible debentures carrying 4.25%.

3. Prepare journal entry to record the conversion of convertible bonds into common stock.

4. Determine whether Apple has issued any additional long-term debt since the year-end September 28, 2013 or not. If yes, identify the amounts.