A privately-held California corporation (C-Corp), very thin-capitalized, has had net losses for the last few years and now cumulative deficit (i.e. negative retained earnings) is about to more than offset the owner's contributed capital, which will lead the company to a situation where the...
Thank you for the response. After posting my question, I happned to read something about collection laws, and there explains some implications of state usury laws. It appears that usury laws only apply to financial transactions especially lending/borrowing, and the situation that described in my...
Hi all, I have a pretty basic question. I am an accountant for my employer locatd in California and from time to time get invoices from our leasing compoanies that include late fees reflecting delayed monthly equipment lease payments in the prior month. Depending on leases, the late fee can be...