On September 1, 2019, the entity bought the bonds belonging to the private sector with a nominal value (par value) of $400,000 with an annual interest payment of 12% through the bank. The related bonds were sold on February 1, 2020 with a bank equivalent of $424,000 .

a- Please show the journal entries required on 31 December 2019.

b- Show the journal entries required on February 1, 2020.

c- If these bonds were sold on February 1, 2020 for $418.000 show the journal entries.

Waterway Industries includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Waterway $3 each. Waterway estimates that 50 percent of the coupons will be redeemed. Data for 2020 and 2021 are as follows:

The premium liability at December 31, 2020 is

$44375.

$50625.

$66375.

$54375.

Go to the website of the Bureau of Economic Analysis and find the growth rate of real GDP for the most recent quarter, 2019 fourth quarter. Go to the website of the Bureau of Labor Statistics and find the inflation rate over the past year 2019 and the unemployment rate for the most recent month, March 2019.

• How do you interpret these data?

• What do you think will the growth rate of real GDP be for first quarter of 2020? And unemployment rate for April 2020? And inflation rate for April 2020?

  Ferry Corporation had 300,000 shares of common stock outstanding at December 31, 2020. In addition, it had 90,000 stock options outstanding, which had been granted to certain executives on June 30, 2020, and which gave them the right to purchase shares of Ferry's stock at an option price of $35 per share. The average market price of Ferry's common stock for 2020 was $50. Net income was $1,000,000. SHOW ALL COMPUTATIONS>

1. Compute EPS.
2. Compute DEPS.

            Ferry Corporation had 300,000 shares of common stock outstanding at December 31, 2020. In addition, it had 90,000 stock options outstanding, which had been granted to certain executives on June 30, 2020, and which gave them the right to purchase shares of Ferry's stock at an option price of $35 per share. The average market price of Ferry's common stock for 2020 was $50. Net income was $1,000,000. SHOW ALL COMPUTATIONS>

1. Compute EPS.
2. Compute DEPS.

b. Audio Waves Ltd. has five employees who have been extremely busy during the current fiscal year, which ends on December 31, 2020. Each employee is entitled to 2 weeks' vacation in return for working 50 weeks. Audio Waves has a weekly payroll of $10,000, and as of December 31, 2020, none of the employees has taken vacation leave. How should this liability be reported on the company's statement of financial position on December 31, 2020?

JJJ Corporation owns a number of shopping centers used to produce rental income. In 2020, the corporation received an advanced rental payment of $20,000 from one of the tenants. The advance payment represented the payment of the rent for the year 2021.

A. If JJJ Corporation used the cash method of accounting, indicate the amount of income, if any, the corporation would need to report in 2020.

B. If JJJ Corporation used the accrual method of accounting, indicate the amount of income, if any, the corporation would need to report in 2020.

Using the three-step method, compute the dirty price (to 3 decimal places) of a $100 face-value bond maturing on 15-Feb-29, paying a 5%pa semi-annual coupons with a yield to maturity of 3%pa for settlement on 05-May-20. Set out the intermediate calculations for each of the three steps.

(Note there are 102 days between 05-May-20 and 15-Aug-2020. There are 182 days between 15-Feb-2020 and 15-Aug-2020)

Caldor Health accrued $140,000 for a warranty liability related to sales made in 2020. Warranties cover defects for 2 years from the date of sale. Claims in 2020 were $60,000 and in 2021 were $70,000. Warranty expense fro 2020 and 2021 are:

A) $60,000 and $70,000

B)$60,000 and $80,000

C)$140,000 and $0

D)$140,000 expense and $10,000 income

Please give specific reason for every choice that why it is correct and why it is wrong if you can. Thank you so much!!!!!