The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the redemption of the bonds.

a. Whispering Winds Corp. redeemed $ 174,000 face value, 9% bonds on April 30, 2017, at 104. The carrying value of the bonds at the redemption date was $157,221. The bonds pay annual interest, and the interest payment due on April 30, 2017, has been made and recorded.

b. Shamrock, Inc., redeemed $176,000 face value, 13.0% bonds on June 30, 2017, at 97. The carrying value of the bonds at the redemption date was $190,494. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded.

Conner enterprises issued $120,000 of 10%, 5-year bonds with interest payable semi annually. determine the issue price of the bonds are priced to yield (a) 10%, (b) 8%, and (c) 12%. use financial calculator or excel to calculate answers. round answers to the nearest whole number.

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.