For each situation, present the accounts and dollar amounts that would appear on comparative balance sheets and income statements for the ears ending 12/31/16 and 12/31/15.

Prepare an amortization table

List all accounts and dollar amounts. Round dollar amounts to the nearest dollar. You do not need to include cash.

For the Classification {Class:} column of the Balance Sheet use:

A for Asset

L for Liability

E for Equity

For the Classification {Class:} column of the Income Statement use:

R for Revenue

E for Expense

The following information relates to R-U Ready Company, a publicly traded company:

1. R. U. Ready acquired Machine B on 1/1/13 by signing a 9% installment note to be paid in 5 equal installments of $65,000. Each payment is due on 12/31, with the first payment due 12/31/13. The useful life of Machine B is 8 years with no residual value. Assume double declining balance depreciation.
2. On 1/1/10, R-U Ready issued $100,000, 6.5%, 10-year bonds at an effective rate of 4.75%. Interest is paid annually on 12/31 of each year.
3. R-U Ready acquired land with a FMV of $220,000 on 1/1/14 by issuing a 3-year non-interest-bearing note due 12/13/16. Assume 8% as the effective rate of interest. (You are not provided the face value of the note, but have enough information to determine it.)

Please answer question number 2 and 3.