Mills corporation acquired as a long-term investment $200 million of 7% bonds, dated july 1, on july 1, 2018. company management is holding the bonds in its trading portfolio. the market interest rate (yield) was 5% for bonds of similar risk and maturity. mills paid $240 million for the bonds. the company will receive interest semiannually on june 30 and december 31. as a result of changing market conditions, the fair value of the bonds at december 31, 2018, was $210 million. required: 1. & 2. prepare the journal entry to record mills’ investment in the bonds on july 1, 2018 and interest on december 31, 2018, at the effective (market) rate. 3. at what amount will mills report its investment in the december 31, 2018, balance sheet? 4. suppose moody’s bond rating agency upgraded the risk rating of the bonds, and mills decided to sell the investment on january 2, 2019, for $250 million. prepare the journal entries to record the sale

Awidower devised his fee simple interest in his residence as follows: “to my daughter for life, then to my oldest grandchild who survives her.” at the time of the widower’s death, he was survived by his only two children, a son and a daughter, and by one grandchild, his daughter’s son. a short time later, the daughter together with her son entered into a contract to sell the residence in fee simple to a buyer. the applicable jurisdiction continues to follow the common law rule against perpetuities, but has abrogated the rule in shelley’s case. at the closing, the buyer refused to purchase the residence. can the sellers compel the buyer to do so?

In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods