On March 1, 2020, Sandollar Inc. issued $42,000 of bonds at 105, paying 8% cash interest semiannually on June 30 and December 31. The bonds are scheduled to mature December 31, 2023. On September 1, 2020, $14,000 of the bonds were retired when the bonds were selling at 89. Assume the straight-line interest method is used to amortize bond discounts and premiums. Required a. Provide the entry for the bond issuance on March 1, 2020. b. Provide the entry for the interest payment on June 30, 2020. c. Provide the entry to recognize interest expense for the portion of the bond issue retired on September 1, 2020. d. Provide the entry to record the bond retirement on September 1, 2020.

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.

Selected transactions of the carolina company are listed below. classify each transaction as either an operating activity, an investing activity, a financing activity, or a noncash activity. 1. common stock is sold for cash above par value. 2. bonds payable are issued for cash at a discount

Markets and competition in a perfectly competitive market, all producers sell identical goods or services. additionally, there are many buyers and sellers. because of these two characteristics, both buyers and sellers in perfectly competitive markets are pricetakers . true or false: the market for lettuce does exhibit the two primary characteristics that define perfectly competitive markets. true false