I cant seem to find the right solution for this problem and would greatly appreciate some help.I'm only having problems with problem #2.

There are three problems this week. Click the tabs at the bottom of the spreadsheet to access each one. On 1/1/2015, Starburst Company issued 10-year bonds with a face value of $500,000 at 102. The bonds carry a stated interest rate of 7%, with interest payable semi-annually on January 1 and July 1. Starburst uses the straight-line method of amortizing bond premium or discount. (a) Prepare the journal entry to record the issuance of the bonds. (b) Prepare the journal entry to record payment of interest on July 1, 2015. (c) Prepare the adjusting entry to record the accrual of interest on December 31, 2015. (d) Prepare the balance sheet presentation for the bond on 12/31/2015. (e) Prepare the balance sheet presentation for the bond on 12/31/2016. Solutions: Date 1/1/2015 7/1/2015 Account Cash Bonds Payable Premium on Bonds Payable Interest Expense Cash 500,000 10,000 Note that it would also be correct to combine the tw 17,500 Interest Expense Interest Payable 500 500 Note that it would also be correct to combine the tw 17,500 17,500 Premium on Bonds Payable Interest Expense 500 500 Starburst Corporation Balance Sheet (Partial) 12/31/2015 Long Term Liabilities Bonds Payable Add: Premium on Bonds Payable 50,000 9,000 Starburst Corporation Balance Sheet (Partial) 12/31/2016 Long Term Liabilities Bonds Payable Add: Premium on Bonds Payable Credit 17,500 Premium on Bonds Payable Interest Expense 12/31/2015 Debit 510,000 50,000 8,000 ne the two entries into one. ne the two entries into one. Black, Inc. management occasionally invests idle cash in stocks that are not intended to be held long term. Management treats these investments as trading securities. 1/5/2015 Purchased 2,500 shares of Eversilver Corporation common stock, which constitutes less than 10% of the outstanding shares of the company for $54.00 per share cash plus a total broker commission of $200. 6/15/2015 12/15/2015 12/31/2015 1/22/2016 Received a cash dividend of $1.50 per share. Received a cash dividend of $1.60 per share. The market value of the stock is $60 per share as of year end, and a commission of $200 would apply to sell the shares. Sold 1,000 shares of Eversilver Corporation common stock for $62 per share minus $120 commission. Instructions: Prepare Journal entries for the above transactions. Solutions: Date 1/5/2015 Account Trading Securities Cash 7/15/2015 Trading Securities Unrealized Gain on Trading Securities 1/22/2016 Cash Trading Securities Realized Gain on Trading Securities cost per share with commiss You would need this information if you sold Cash Dividend Revenue 12/31/2015 Credit Cash Dividend Revenue 12/15/2015 Debit updated carrying value per s ommission. you sold less than all shares later. e per share. White Corporation acquired 50,000 shares of the outstanding common stock of Gold Company for $12.00 per share. The following events occurred during the year. 6/15/2015 12/10/2015 12/31/2015 Gold declared and paid $0.50 per share cash dividend. Gold declared and paid $0.55 per share cash dividend. Gold reported net income for the year of $325,000. The market price of Gold common stock was $25 per share on the last day of the year. Instructions: (a) Prepare the journal entries for White in 2015, assuming that the purchase of Gold stock constituted less than 10% of Gold's outstanding shares. White treats this investment as available-for-sale securities. (b) Prepare the journal entries for White in 2015, assuming that the purchase of Gold stock constituted 30% of Gold's outstanding shares. Solutions: Date 1/1/2015 Account Less than 10% ownership: Available-for-sale Securities Cash Debit Credit 600,000 600,000 50,000 shares multiplied by $12.00 a share=600,000 6/15/2015 12/10/2015 12/31/15 Cash Dividend Revenue 50,000 shares multiplied by $0.50 a share=25,000 Cash Dividend Revenue 50,000 shares multiplied by $0.55 a share=27,000 Available-for-sale Securities Unrealized Gain on Available-for-sale Securities 50,000 shares x $25,000 a share - $50,000 a share x $12.00 a share= 650,000 25,000 25,000 27,500 27,000 650,000 650,000 30% ownership: 1/1/2015 Investment in Gold Company Cash 600,000 600,000 50,000 shares multiplied by $12.00 per share= 600,000 6/15/2015 Cash Investment in Gold Company 25,000 25,000 50,000 shares multiplied by $0.50 per share= 25,000 12/10/2015 12/31/2015 Cash Investment in Gold Company 50,000 shares multiplied by $0.55 a share=27,500 Investment in Gold Company Income from Gold Company (30% x 325,000) 27,500 27,500 97,500 97,500