In May $2017,$ Apple Inc., filed a prospectus with the SEC, indicating that it would be issuing another $$7$ billion in bonds during $2017.($Apple issued $$10$ billion in bonds in February $2017$ in the US and $$1$ billion in Taiwan.$)$

With the bond proceeds, Apple will be buying back its own stock. Apple has also indicated that there will be a $10\mathrm{.}5$ percent dividend increase for its shareholders.

Questions

$1.$ What journal entry would Apple make when it issues $$7$ billion in bonds $($ignore underwriting fees$)?$

$2.$ How are assets, liabilities, and equity impacted by the bond issuance?

$3.$ On what financial statement is the balance of bonds payable shown? Where is it shown on that financial statement?

$4.$ What journal entry would Apple make when it purchases its own stock?

$5.$ How are assets, liabilities, and equity impacted by the stock buyback?

$6.$ On what financial statement is the balance of treasury stock shown? How is treasury stock shown on that financial statement?