I really need help with this assignment. I have attached two documents that will help with the assignment on case 15-11 Deal for Dozer case. Can this be done by Monday April 18, 2016?

Case 15-11 Deal for a Dozer Sable Inc. is a company based in San Francisco, CA, that manufactures and supplies earthmoving and construction equipment. Sable either sells the equipment to customers or leases it under terms specific to a customer's needs. Buildit Inc. is a growing construction company in Los Angeles, CA, that specializes in building residential properties. Buildit recently entered into a contract with Sable to lease a bulldozer, which Buildit will use for a new project involving the construction of several condominiums in the Los Angeles area. The pertinent terms of the lease are as follows: The lease term is for 10 years, while the economic life of the bulldozer is estimated to be 15 years. The useful life of the bulldozer is also estimated to be 15 years. Annual lease payments of $16,000 are due at the end of each year. Buildit is also responsible for all maintenance, insurance, and taxes arising from the lease of the bulldozer. The residual value of the bulldozer is estimated to be $24,000 at the end of the lease term. Sable does not have a residual value guarantee. The lease does not transfer ownership of the bulldozer to Buildit by the end of the lease term or provide an option for Buildit to purchase the equipment. The bulldozer costs Sable $100,000 to manufacture and this model is currently listed for sale at $135,000 should customers wish to purchase it outright. Sable believes that the lease payments from Buildit will be collected when they are due. In addition, the equipment is fully constructed and no additional costs will be incurred to complete production of the bulldozer before lease commencement. As a result of a recent economic downturn that has directly impacted the construction industry, a number of companies in the industry have modified their sales or lease terms to maintain profitability. Some of Sable's direct competitors have negotiated lower lease payments or reduced their selling prices in an effort to stimulate sales. For example, several bulldozers with the same specifications as the one leased to Buildit have recently sold for an average sales price of $125,000, as opposed to Sable's current list price of $135,000. The rate implicit in the lease is 6.93 percent assuming the fair value of the bulldozer is $125,000 at the beginning of the lease term and 5.45 percent assuming the fair value is $135,000. Required: 1. How should Sable classify the lease in its accounting records? 2. Provide the journal entries that Sable should record to: a. Initially record the lease. b. Account for the first lease payment made to Sable at the end of year 1. Copyright 2014 Deloitte Development LLC All Rights Reserved. ACTG 493 Professor Siyi Li GROUP PROJECT #2 Applied Professional Research Due: Tuesday April 26 Your group will conduct research on an accounting case assigned to you and prepare an accounting issues memo. Each case contains several questions that are essential to the case and should be addressed and incorporated into your memo and presentation. Your memo and presentation should follow the instructions listed in the course syllabus and should address the following issues. Required: 1. Briefly describe the basic facts of the case. Identify the key accounting issue(s) the company needs to solve. List and describe at least two alternative solutions to each of the accounting issues. 2. Search the FASB Codification to identify authoritative literature that either deals directly with the accounting issue or that provides guidance on an analogous accounting issue. List and describe the authoritative literature in support of each of your alternatives. Identify and describe any non-authoritative literature you use, if any. 3. Evaluate the alternative solutions based on research using conceptual analysis and application of the authoritative professional literature. Present your recommendation of the 'best' solutions and explain. You should also discuss any assumptions you make in your research. 4. For each of the accounting issues, describe the effects of your recommended accounting treatments on the company's financial statements for the current and subsequent periods. Discuss any disclosure requirements associated with your recommendations. Group case assignment: Cases are downloadable from http://www.deloitte.com/us/truebloodcases. Case 14-3: Coconut Telegraph Case 13-3: Hearts 'R Us Preferred Stock Classification Case 15-11: Deal for a Dozer Case 15-5: Trouble at the Resort Case 13-1: Refer-a-friend gift card Group 1 Group 6 Group 2 Group 7 Group 3 Group 8 Group 4 Group 9 Group 5 Group 10 Group 5-8 in the 9:30 a.m. class and Group 6-10 in the 11:00 a.m. class will make a presentation to the class on Tuesday April 26