Jamona Corporation Scenario
Amy McIntosh
ACC545
May 7, 2012
Hung Tran

Jamona Corporation Scenario The following paper details the journal entries relating to the investments, inventory, fixed assets, and capital leases noted within the Jamona Corporation document. The attached excel document shows applicable schedules, financial statement handling, and any necessary note disclosures.
Investments

Purchase
1/1/06

Available-for-sale Securities $322,744.44 Cash $322,744.44

12/31/06

Cash $36,000 Available-for-sale Securities $3,725.56 Interest Receivable $32,474.44 ($322,744.44 * 10%)

Available-for-sale Securities $1,481.12 Unrealized holding gain/loss- Equity $1,481.12 ($320,500 – $319,018.88)

12/31/07

Cash $36,000 Available-for-sale Securities $3,725.56 Interest Receivable $32,474.44 ($322,744.44 * 10%)

Available-for-sale Securities $7,401.89 Unrealized holding gain/loss- Equity $7,401.89 (see attached schedule)

12/31/08

Cash $36,000 Available-for-sale Securities $3,725.56 Interest Receivable $32,474.44 ($322,744.44 * 10%)

Available-for-sale Securities $10,224.55 Unrealized holding gain/loss- Equity $10,224.55 (see attached schedule)

12/31/09

Cash $36,000 Available-for-sale Securities $3,725.56 Interest Receivable $32,474.44 ($322,744.44 * 10%)

Available-for-sale Securities $6,949.10 Unrealized holding gain/loss- Equity $6,949.10 (see attached schedule)

12/31/10

Cash $36,000 Available-for-sale Securities $3,725.56 Interest Receivable $32,474.44 ($322,744.44 * 10%)

Available-for-sale Securities $9,575.54 Unrealized holding gain/loss- Equity $9,575.54 (see attached schedule)

As noted in the Jamona Corporation document, the bonds are classified as available-for-sale. As such, they can be classified in either the short-term or long-term assets based on the sales