Special assessment by city on land
18,000
On December 20, the company paid cash for machinery, $260,000, subject to a 2% cash discount, and freight on machinery of $10,500.
1. On January 1, 2007, Jamona Corp. signed a five-year non-cancelable lease for a machine. The terms of the lease called for Jamona to make annual payments of $8,668 at the beginning of each year, starting January 1, 2007. The machine has an estimated useful life of six years and a $5,000 un-guaranteed residual value. The machine reverts to the lessor at the end of the lease term. Jamona uses the straight-line method of depreciation for all of its plant assets. Jamona’s incremental borrowing rate is 10%, and the lessor’s implicit rate is unknown.
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Prepare journal entries with appropriate supporting detailed schedules for the balance sheet items: investments, inventory, fixed assets, and capital leases. Prepare appropriate note disclosures.
ACC 545 Week 4 Individual Assignment Restructuring Debt
http://allmytutorials.com/?p=5940
Your company is in financial trouble and is in the process of reorganization. Your manager wants to know how you will report on restructuring the debt. Use the following information to help with this assignment.
ACC 545 Week 5 Individual Assignment Lee Corporation Equity Scenario http://allmytutorials.com/?p=5944
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Review the following information: