Swifty Inc. issued $150,000, 5-year bond on January 1, 2024 paying 4% interest on a semi-annual basis every January 1 and July 1. Prepare the first-year journal entries for the bond issue and interest expense assuming that the company uses the effective interest method, a market interest rate of 3% and has a year-end of December 31, 2024. (Round answer to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Date Account Titles and Explanation Debit Credit January 1 July 1 December 31The government lent $200.000 to Vaughn Industries, who signed a 5-year, zero-interest note dated January 1, 2024 to help finance the construction of a building. The market rate of interest is 6%% and the effective interest method of amortization is used. The loan will be forgiven if Vaughn provides employment for a specified number of individuals for a specified period of time. If these conditions are not met, the amount is due to the government in full in five years. Vaughn believes it will be able to meet the conditions. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENTVALUE OF AN ORDINARY ANNUITY OF 1. Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the amount of cash received by Vaughn, who follows IFRS. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answer to O decimal places e.g. 58,971. Cash received $ Prepare the journal entry for the issue of the note on the books of Vaughn. (Round answer to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit January 1Prepare the entry for at December 31, 2024, the fiscal year end of the company. (Round answer to O decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Dec. 31Swifty Corporation has 311,000 no par value common shares authorized, issued, and outstanding which were all issued at $44 per share. On February 28, 2023, Swifty reacquired 8,000 shares at a cost of $42 per share. On October 20, 2023, the company purchased and cancelled an additional 6,000 shares. The purchase cost was $48 per share. Prepare the journal entries to record the reacquisition of shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles Debit Credit v Acti Go toNovak Ltd. provides the following information for 2023 1. Net income $568,400 2. Capital structure a) Convertible 6% bonds. Each of the 330, $1,000 bonds is convertible 330,000 into 50 common shares for the next 10 years b) Common shares, 203,000 shares issued and outstanding during the entire year 2,030,000 c) Stock options outstanding to buy 13,950 common shares at $20 per share. 3. Other information a) Bonds converted during 2023 None b) Income taxrate 30% c) Convertible debt was outstanding the entire year d) Average market price per common share during 2023 $30 e) Stock options were outstanding the entire year f) Stock options exercised during 2023 NoneCalculate basic earnings per share for 2023. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ Calculate diluted earnings per share for 2023. (Round answers to 2 decimal places, e.g. 15.25.) Security Diluted EPS Common shares Options Convertible bondsOriole Limited has net income of $3.28 million and two classes of preferred shares, in addition to common shares. Class A preferred shares are cumulative and carry a dividend of $4 per share. There are 105,000 shares outstanding throughout the year. No dividend declaration has been made and no dividends have been paid during the year. Class B preferred shares are non-cumulative and carry a dividend of $3 per share. There are 105,000 shares outstanding throughout the year and the dividends have not been declared or paid in the current year. How would the income available to common shareholders be calculated? V