Federal semiconductors issued 11% bonds, dated january 1, with a face amount of $840 million on january 1, 2021. the bonds sold for $776,803,860 and mature on december 31, 2040 (20 years). for bonds of similar risk and maturity the market yield was 12%. interest is paid semiannually on june 30 and december 31. required: 1. to 3. prepare the journal entries to record their issuance by federal on january 1, 2021, interest on june 30, 2021 (at the effective rate) and interest on december 31, 2021 (at the effective rate). 4. at what amount will federal report the bonds among its liabilities in the december 31, 2021, balance sheet?

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)