I didn'.t expect the turnaround to be so quick.On top of that,multiple tutors offers to help,which was great to know i had options to chose from.It exceeded my expectations.Could you please help me solving with these accounting problems step by step that i send in attachments?

ACCOUNTING PROBLEMS Problem A Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2009 . LPC's accountant has projected the following amortization schedule from issuance until maturity: Date Cash interest Effective interest Decrease in balance 1/1/2009 Outstanding balance $207,020 6/30/2009 $7,000 $6,211 $789 206,230 12/31/2009 7,000 6,187 813 205,417 6/30/2010 7,000 6,163 837 204,580 12/31/2010 7,000 6,137 863 203,717 6/30/2011 7,000 6,112 888 202,829 12/31/2011 7,000 6,085 915 201,913 6/30/2012 7,000 6,057 943 200,971 12/31/2012 7,000 6,029 971 200,000 Required: 1. Calculate the effective interest rate on the bond. 2. Prepare the journal entries for the issuance of the bonds on 1/1/09 and the interest expense for 6/30/09.Date all entries. 3. LPC calls the bonds at 103 immediately after the interest payment on 12/31/10 and retires them. Prepare the journal entry for the retirement of the bonds. 4. Why should long-term liabilities be measured at their present value while current liabilities are not treated the same way? 5. Assume each $1,000 bond were issued with one detachable warrant for a total price of $207,020 and the price of each bond without warrant was 98 and the price of each warrant was $6. How much of the price should be allocated to the bond issue. Problem B Guido Properties owes First State Bank $60 million under a 7% note with two years remaining to maturity. Due to financial difficulties of Guido, the previous year's interest ($4.2 million) was not received. The bank agrees to settle the note receivable and accrued interest receivable in exchange for land having a fair value of $44 million and a book value of $ 32 million. Required: Prepare all the journal entries required for the settlement on Guido's books. Problem C EMD Company had 512,500 shares of common stock outstanding during 2009.Net income for 2009 was $ 2,415,000; the income tax rate was 30%. In addition, EMD had the following debt and equity securities on its books on December 31,2009: (a) 28,000 shares of $100 par,10% cumulative preferred stock, par $100, sold at $ 110 per share in 2007.The preferred stock is convertible into 79,000 shares of common stock. (b) $2,000,000 face value of 9% bonds sold at par in 2008. (c) $3,000,000 face value of 7% convertible bonds at par in 2007.The bonds are convertible into 60,000 shares of common stock. (d) Options to purchase 10,000 shares of common stock were issued May 1,2009. Exercise price is $30 per share. Common Stock per share prices: At date of grant, $29 Average during 2009, $40. Required: 1. Compute both Basic and Diluted Earnings per Share (EPS) for the year ended December 31,2009. 2. What is the objective of calculating diluted earnings per share? (Has a one sentence answer) 3. What is anti-dilution of EPS? (Has a one sentence answer!) Problem D DCL Industries purchased a supply of mechanical components from E Corporation on November 1, 2009. In payment for the $48,000 purchase, DCL issued a 1-year installment note to be paid in equal monthly payments at the end of each month. The payments include interest at the rate of 12%. Required: 1. Calculate the amount of monthly payments for the note. 2. Prepare the journal entries for the first TWO installment payments on November 30, and December 31,2009. Problem E On January 1, 2009, M Company granted 90,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2011, and expire on January 1, 2015. Each option can be exercised to acquire one share of $1 par common stock for $12. An option-pricing model estimates the fair value of the options to be $5 per option on the date of grant. Required: 1. Prepare all the required journal entries for: a. January 1,2009 b. December 31, 2009 If no entry is required state \"Memo Entry Only!\" 2. Prepare the entry for the exercise of 40000 of the options on January 1,2012