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I would like to see a bonds journal entries and amortization table please.. The following information is available from Jamona's inventory records: Units Unit Cost
I would like to see a bonds journal entries and amortization table please..
The following information is available from Jamona's inventory records: Units Unit Cost 600 $ 8.00 January 5, 2007 1,200 9.00 January 25, 2007 1,300 10.00 February 16, 2007 800 11.00 March 26, 2007 600 12.00 January 1, 2007 (beginning inventory) Purchases: A physical inventory on March 31, 2007, shows 1,600 units on hand. Select any one of the inventory methods (LIFO, FIFO, Average Cost, or others). o On July 6, Jamona Corp. acquired the plant assets of Berry Company, which had discontinued operations. The appraised value of the property is: Land Building Machinery and equipment Total $ 400,000 1,200,000 800,000 $2,400,000 Jamona Corp. gave 12,500 shares of its $100 per value common stock in exchange. The stock had a market value of $168 per share on the date of the purchase of the property. Jamona Corp. expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. Repairs to building Construction of bases for machinery to be installed later Driveways and parking lots Remodeling of office space in building Special assessment by city on land $105,000 135,000 122,000 161,000 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. On January 1, 2007, Jamona Corp. signed a 5-year, noncancelable 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 6 years and a $5,000 unguaranteed 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. The following information is available from Jamona's inventory records: Units Unit Cost 600 $ 8.00 January 5, 2007 1,200 9.00 January 25, 2007 1,300 10.00 February 16, 2007 800 11.00 March 26, 2007 600 12.00 January 1, 2007 (beginning inventory) Purchases: A physical inventory on March 31, 2007, shows 1,600 units on hand. Select any one of the inventory methods (LIFO, FIFO, Average Cost, or others). o On July 6, Jamona Corp. acquired the plant assets of Berry Company, which had discontinued operations. The appraised value of the property is: Land Building Machinery and equipment Total $ 400,000 1,200,000 800,000 $2,400,000 Jamona Corp. gave 12,500 shares of its $100 per value common stock in exchange. The stock had a market value of $168 per share on the date of the purchase of the property. Jamona Corp. expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. Repairs to building Construction of bases for machinery to be installed later Driveways and parking lots Remodeling of office space in building Special assessment by city on land $105,000 135,000 122,000 161,000 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. On January 1, 2007, Jamona Corp. signed a 5-year, noncancelable 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 6 years and a $5,000 unguaranteed 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. The following information is available from Jamona's inventory records: Units Unit Cost 600 $ 8.00 January 5, 2007 1,200 9.00 January 25, 2007 1,300 10.00 February 16, 2007 800 11.00 March 26, 2007 600 12.00 January 1, 2007 (beginning inventory) Purchases: A physical inventory on March 31, 2007, shows 1,600 units on hand. Select any one of the inventory methods (LIFO, FIFO, Average Cost, or others). o On July 6, Jamona Corp. acquired the plant assets of Berry Company, which had discontinued operations. The appraised value of the property is: Land Building Machinery and equipment Total $ 400,000 1,200,000 800,000 $2,400,000 Jamona Corp. gave 12,500 shares of its $100 per value common stock in exchange. The stock had a market value of $168 per share on the date of the purchase of the property. Jamona Corp. expended the following amounts in cash between July 6 and December 15, the date when it first occupied the building. Repairs to building Construction of bases for machinery to be installed later Driveways and parking lots Remodeling of office space in building Special assessment by city on land $105,000 135,000 122,000 161,000 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. On January 1, 2007, Jamona Corp. signed a 5-year, noncancelable 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 6 years and a $5,000 unguaranteed 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 unknownStep by Step Solution
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