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Problem $1(10$ points$)$

The following are selected transactions entered into by Sol Electronics during $2021.$ Sol Electronics is incorporated on April $1,2021.$ The company's accounting year end is December $31.$

On April. $1,$ Company issued $100,000$ shares of $$1$ par value stock at $$3$ dollars per share

On May $1,$ Company issued $5-$year $$100,000$ face value bond with $4\%$ contractual rate. The maturity date is May $1,2026.$ The market interest rate on May $1.2021$ was $5\%.$ Interest is payable annually starting from May $1,2022.$ Please calculate the bond issuance price and journalize.

On June $1,$ Company issued additional $30,000$ ordinary shares at $$5$ dollar per share.

On July $1,$ Company acquired $10,000$ shares of its own ordinary shares for the treasury at $$6$ dollars per share.

On September $1,$ Company sold $2,000$ shares of treasury shares held at $$8$ per share

On October $15,$ Company sold $3,000$ shares of treasury shares at $$4$ per share.

On October $31,$ Company acquired $20,000$ shares, $40\%$ of $50,000$ total outstanding shares of Best Electronics Outlet at a cost of $$20$ per share.

On Dec $10.$ Best Electronics Outlet paid dividends of $$1$ per share.

On Dec. $15,$ Company declared cash dividend of $$1$ per share to the shareholders of record on December $20$ and payment date is December $31.$

On Dec $20,$ Company acquired $1000$ shares of Apple Inc ordinary shares at $$100$ per share. The investment in Apple Inc will be classified as "non$-$trading".

The company intends to hold the stock and sell within one year.

On Dec $31,$ Company paid cash dividends.

On Dec $31,$ Best Electronics Outlet reported a net income of $$600,000$ for the year.

On Dec $31,$ Apple stock was closed at $$140$ per share in the NASDQ.

Please prepare joumal entries for the above transactions in $2021$ and all necessary adjusting journal entries to prepare $2021$ financial statements.