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Part 1 Pape 980 On April 1, 2020, Shelter Bay Inc. has available for issue $900,000 bonds due in four years. Interest at the rate
Part 1 Pape 980 On April 1, 2020, Shelter Bay Inc. has available for issue $900,000 bonds due in four years. Interest at the rate of 10% is to be paid quarterly. Calculate the issue price if the market interest rate is b. 10% C. 9% Part 2 On October 1. Shelter Bay Inc. has available for issue a $326,000 bond due in eight years. Interest at the rate of 12% is to be paid semiannually. Calculate the issue price i the market interest rate is a. 11.50% b. 12.00% 117 The Data Group Inc. had the following balances in its equity accounts at December 31, 2019: Common shares, unlimited shares authorized: 200,000 shares issued and outstanding... $2.400,000 Retained earnings 400,000 During 2020, the following equity transactions occurred: Apr. 15 Repurchased and retired 15,000 common shares at $10.40 per share. May | Repurchased and retired 25,000 common shares at $13.60 per share. Nov. The board of directors declared a 2:1 share split effective on this date. Required 1. Prepare journal entries to account for the transactions during 2020 (assuming the retirements were the first ever recorded by The Data Group In 2. Prepare the company's equity section on the December 31, 2020, balance sheet, assuming a loss for the year of S136,000
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