On january 1, 2020, whispering corporation issued $3,740,000 of 10-year, 8% convertible debentures at 102. interest is to be paid semiannually on june 30 and december 31. each $1,000 debenture can be converted into 8 shares of whispering corporation $100 par value common stock after december 31, 2021. on january 1, 2022, $374,000 of debentures are converted into common stock, which is then selling at $111. an additional $374,000 of debentures are converted on march 31, 2022. the market price of the common stock is then $116. accrued interest at march 31 will be paid on the next interest date. bond premium is amortized on a straight-line basis. make the necessary journal entries for: (a) december 31, 2021. (c) march 31, 2022. (b) january 1, 2022. (d) june 30, 2022.

The monthly demand equation for an electric utility company is estimated to be p equals 60 minus left parenthesis 10 superscript negative 5 baseline right parenthesis x, where p is measured in dollars and x is measured in thousands of killowatt-hours. the utility has fixed costs of $3 comma 000 comma 000 per month and variable costs of $32 per 1000 kilowatt-hours of electricity generated, so the cost function is upper c left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 32 x. (a) find the value of x and the corresponding price for 1000 kilowatt-hours that maximize the utility's profit. (b) suppose that the rising fuel costs increase the utility's variable costs from $32 to $38, so its new cost function is upper c 1 left parenthesis x right parenthesis equals 3 times 10 superscript 6 baseline plus 38 x. should the utility pass all this increase of $6 per thousand kilowatt-hours on to the consumers?