On january 1, innovative solutions, inc. issued $220,000 in bonds at face value. the bonds have a stated interest rate of 5 percent. the bonds mature in 10 years and pay interest once per year on december 31.required: 1, 2 & 3. complete the required journal entries to record the bond issuance, interest payment on december 31, early retirement of the bonds. assume the bonds were retired immediately after the first interest payment at a quoted price of 103. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

He management's discussion and analysis (md& a) required in general purpose federal financial reporting is different than that required by gasb of state and local governments in that: a. it includes information about the agency's performance goals and results in addition to financial activities. b. it is outside the general purpose federal financial report and is optional, not required. c. it is a part of the basic financial statements and, as a result, it is audited along with the financial statements. d. there are no significant differences.

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Double corporation acquired all of the common stock of simple company for