Prepare Journal Entries to Record Each of the Following Transactions

question 152

Essay

Prepare journal entries to record each of the following transactions for Gordon's Biking Supplies (GBS) on January 1, Year 1.
a. GBS issues $100,000 of convertible bonds at 98% of par.Without the conversion feature, the bonds would have traded at 88% of par.The bonds each have a $1,000 face value and an 8% stated rate.Each bond can be converted into 50 shares of stock with a $5 par value.The bonds have a 10-year maturity and the straight line method of discount amortization is used.Interest is paid annually on January 1.
b. Prepare any entry necessary on December 31, Year 1.
c. Prepare any entry necessary on December 31, Year 2.
d. On January 1, Year 3, $25,000 par value of bonds are converted when the market price per share $25.(Hint: do not record a gain or loss on conversion.)

Understand the application of therapy techniques to treat specific psychological issues.

Articulate the strengths and limitations of humanistic therapy approaches.

Discuss the therapeutic goal of increasing self-awareness and personal growth.

Learn the use of therapy in diverse contexts beyond treating mental disorders.

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Definitions:

Prokaryotes

Prokaryotes are unicellular organisms lacking a distinct nucleus and membrane-bound organelles, including bacteria and archaea, characterized by their simple cellular structure.

Domains

In biology, refers to the highest categorization in the classification of life, dividing organisms into three groups: Bacteria, Archaea, and Eukarya.

Bacteria

Single-celled microorganisms that can be found in various environments, some of which are beneficial while others can cause diseases.

Poaceae

A large and economically important family of plants, also known as the grass family, which includes species like wheat, corn, and rice.