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Question 1: Transaction AnalysisInterest on bonds =investment in bonds*Interest rates*No. of months interest R/TOTAL NUMBER OF MONTHS i=100,000*8%*6/12=4000The we subtract the investment in bonds (100000) from sale amount of bond (102000); We get a profit of 2000Starship EnterprisesJournal EntriesDateDescriptionDebitCredit$$January 1 2016 Investment in bonds100000Cash100000Recording of the purchase of Northern Lights BondsJune 30 2016 Cash4000Interest Revenue4000Recording the semiannual interest receivedDecember 31 2016Cash4000Interest revenue4000Recording the semiannual interest receivedJanuary 1 2017Cash102000Profit on sale of bonds2000Investment in bonds100000To record sale of bondsQuestion 2Starship was able to sell its Northern Lights bonds for 102000 because they had made a profit of...
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