The transactions below took place during the year 2017.

1. Convertible bonds payable with a par value of $305,400 were exchanged for unissued common stock with a par value of $305,400. The market price of both types of securities was par.

2. The net income for the year was $413,900.

3. Depreciation expense for the building was $90,700.

4. Some old office equipment was traded in on the purchase of some dissimilar office equipment, and the following entry was made.

Equiptment 49,200
Accum. Depreciation-Equipment 29,800
Equipment 39,300
Cash 33,600
Gain on Disposal of Plant Assets 6,100
The Gain on Disposal of Plant Assets was included in income before income taxes.
5.Dividends in the amount of $125,100 were declared. They are payable in January of next year.

Show by journal entries the adjustments that would be made on a worksheet for a statement of cash flows. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

No Account Titles and Explanation Debit Credit
1
2
3
4
5

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Match the steps for conducting an informational interview with the tasks in each step.