Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 87

Refer to Apple 's financial statements in Appendix A to answer the following.
1. Identify the items, if any, that make up Apple's long-term debt as reported on its balance sheet at September 28, 2013.
2. Assume that Apple has $100 million in convertible debentures that carry a 4.25% contract rate of interest. How much annual cash interest must be paid on those convertible debentures
3. Assume that the convertible bonds discussed in part 2 are convertible into 20,000 shares of Apple's stock. If the carrying value of these bonds is $100 million, what is the entry recorded by Apple upon conversion
Fast Forward
4. Access Apple's financial statements for the years ending after September 28, 2013, from its website ( Apple.com ) or the SEC's EDGAR database ( www.SEC.gov ). Has it issued additional long-term debt since the year-end September 28, 2013 If yes, identify the amount(s).
Reference : Apple 's financial statements in Appendix A