ACTG 2011 Lecture Notes - Lecture 11: Financial Statement, Contingent Liability, Income Statement
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Paragraph 1) and 2) how to recognize shayne"s investment (debt vs. equity) Founders of livewell inc are estelle and miles ramp. Livewell inc specializes in the manufacture and retail distribution of essential oils. She is willing to provide ,000,000 in financing. Shayne wants to purchase 100,000 in preferred shares convertible into common shares up until. Interest of 12% per annum will become payable if shayne does not convert preferred shares to common shares. Paragraph 3) aspe, ifrs, ifrs 15 are constraints. My role is director of accounting for livewell inc. I"m in charge of finalizing the financial accounting policies for the year-ended (dec 31, 2015), analyzing financial statements, and provide recommendations. I will provide an analysis on the financial implications on next year"s financial statements if shayne allstar does not invest in the company in 2016. I"m reporting to emma green, who is the cfo of livewell inc.
