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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Obtain The Coca-Cola Company’s 2017 annual report either using the “Investor Relations” portion of its web site (do a Web search for CocaCola investor relations) or go to http://www.sec.gov and click “Search for company filings” under “Filings and Forms (EDGAR).”

Required:

  1. 1. What was the difference between the interest expense and interest paid in 2017?
  2. 2. How much long-term debt will mature each year from 2018 through 2022? Which note provided this information?
  3. 3. What was the weighted average interest rate on the company’s long-term debt for the year ended December 31, 2017?
  4. 4. Was the current yield at December 31, 2017, on the company’s long-term debt the same as, greater than, or less than the average yield at issuance? At December 31, 2016?

1.

To determine

State the difference between the interest expense and interest paid in 2017.

Explanation

From the consolidated income statement, Company C recorded interest expense of $841 million dollars during the ye...

2.

To determine

State the amount of long-term debt matured each year from 2018 through 2022 and specifies the note that provided this information.

3.

To determine

State the amount of weighted average interest rate on the company’s long-term debt for the year ended December 31, 2017.

4.

To determine

State the amount of current yield at December 31, 2017 on the company’s long-term debt and explain if the long-term debt of the company is same, greater or less than the average yield at issuance at December 31, 2016.

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