On january 1, 2018, madison products issued $40 million of 6%, 10-year convertible bonds at a net price of $40.8 million. madison recently issued similar, but nonconvertible, bonds at 99 (that is, 99% of face amount). the bonds pay interest on june 30 and december 31. each $1,000 bond is convertible into 30 shares of madison’s no par common stock. madison records interest by the straight-line method. on june 1, 2020, madison notified bondholders of its intent to call the bonds at face value plus a 1% call premium on july 1, 2020. by june 30 all bondholders had chosen to convert their bonds into shares as of the interest payment date. on june 30, madison paid the semiannual interest and issued the requisite number of shares for the bonds being converted. required: 1. & 2. prepare the journal entry for the issuance of the bonds by madison and interest payment for the june 30, 2018. 3. prepare the journal entries for the june 30, 2020, interest payment by madison and the conversion of the bonds (book value method).

Which of the following best explains why a large company can undersell small retailers? a. large companies can offer workers lower wages because they provide more jobs. b. large companies can pay their employees less because they do unskilled jobs. c. large companies can negotiate better prices with wholesalers. d. large companies have fewer expenses associated with overhead.

Max fischer is a beekeeper. his annual group insurance costs 11,700. his employer pays 60% of the cost. how much does max pay semimonthly for it?

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)