ACC 545 Week 5 Individual Assignment Lee Corporation Equity Scenario
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ACC 545 Week 5 Individual Assignment Lee Corporation Equity Scenario
• Review the following information:
Lee Corporation, a U.S. company, began operations on January 1, 2004.
During its first 3 years of operations, Lee reported net income and declared dividends as follows.
Net income Dividends declared
2004 $ 40,000 $ –0–
2005 125,000 50,000
2006 160,000 50,000
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ACC 545 Week 4 Individual Assignment Restructuring Debt
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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.
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ACC 545 Week 3 Individual Assignment Jamona Corp. Scenario
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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...