he prevailing market rate is 10%. What is the loan impairment loss for 2020? (Round PV factors to 2 decimals)

Q: On July 1, 2019, Lp Manufacturing Co. issued a five-year note payable with a face amount of P250,000…

A: The current liabilities section would include the maturity payment of $50000 and the interest…

Q: On December 31, 2020, JKL Bank granted a P5,000,000 loan to a borrower with 10% stated rate payable…

A: Face value of loan = P5,000,000 Stated interest rate = 10% Market interest rate = 12% The interest…

Q: A Bank granted a loan to a borrower in the amount of P5,000,000 on January 1, 2021, The interest…

A: Solution Carrying amount is the cost of an asset less accumulated depreciation.

Q: A promissory note with a face value of $12,300 is written on February 22, 2015 and is due on June…

A: 1) Compound interest =P(1 + r/n) (nt) Here p= 12300 R=11.5% N=7.25 yrs             Compound interest…

Q: What is the carrying amount of the loan receivable on December 31, 2021?

A: Carrying amount of the loan receivable is the amount of loan which is due and the present value of…

Q: airment loss for 2020? (Round PV factors to 2 decimals)

A: Given: To find the correct option from the given data's as,

Q: April 1, 2021, ABC CO. issued a 9% interest bearing note with a face amount of P 30,000,000 for the…

A: Equated principal payments over 5 year period = P30, 000,000/5 =P6000, 000

Q: On December 31, 2020, Chase Bank has a 5-year loan renewable with a face value of $5,000,000 dated…

A: 5 year Loan               = $5000000 Accrued Interests       =   $500000 Total receivable…

Q: On January 1, 2020, Oceanic Bank made a P1,000,000 8% loan. The P80,000 interest is receivable at…

A: Computation:

Q: Global Bank loaned P9,000,000 to a borrower on January 1, 2018. The terns of the loan were payment…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: On April 1, 2021, ABC CO. issued a 9% interest bearing note with a face amount of P 30,000,000 for…

A: Notes Payable: In the financial world, notes payable are short-term obligations that represent the…

Q: Davao Bank loaned P7,500,000 to a borrower on January 1, 2018. The terms of the loan were payment in…

A: Loan Amount = P7,500,000  Interest Rate = 12% Accrued Interest = 12% of  P7,500,000 = P900,000 Total…

Q: Other information: • The bank notes issued on August 1, 2021 are due on July 31, 2022 and pay…

A: Current liabilities are the liabilities which are liable to be paid in 12 months.

Q: Chifuyu Bank loaned P10,000,000 to Baji Company on January 1, 2020, the terms of the loan require…

A: Loan: Loan is the amount of obligation that a company has taken to finance its assets. It can be…

Q: On December 31, 2021, Macedon Bank has a 5-year loan receivable with a face value of P5,000,000…

A: A loan is considered to be impaired when it is expected that related principal and interest payments…

Q: On June 30, 2019, BM Corporation issued a five-year note payable with a face amount of P1,000,000…

A: Accrued interest on December 31,2020 = (face value of note -  annual payment made on June 30, 2020)…

Q: On January 1, 2020, Hamid Company sold goods to Khaled Company. Khaled signed a noninterest-bearing…

A: Present value of amount to be receved on January 1, 2020 = Intial payment + Annual payment x PV of…

Q: On January 1, 2020, Jackie Company issued a note with a face amount of P5,000,000. The note carried…

A: Working note: Computation of carrying amount of note payable on June 30, 2022:

Q: On April 1, 2021, ABC CO. issued a 9% interest bearing note with a face amount of P 30,000,000 for…

A:

Q: On January 1, 2019, Diggs Co. lends some money in exchange for a 10% $100,000 10-year note. The…

A: Solution d: Note Amortization Schedule - Effective interest method Date Cash Paid Interest…

Q: Green Bank loaned P9,000,000 to a borrower on January 1, 2018. The terms of the loan were payment in…

A: impairment Loss arises  where Carrying amount is the greater than the realisable value. carrying…

Q: On January 1, 2020, Jackie Company issued a note with a face amount of P5,000,000. The note carried…

A: solution

Q: On January 1, 2020, Jackie Company issued a note with a face amount of P5,000,000. The note carried…

A: Working note: Computation of carrying value of note payable on June 30, 2022 before modification of…

Q: On April 1, 2021, ABC CO. issued a 9% interest bearing note with a face amount of P 30,000,000 for…

A: It is pertinent to note that non-current liabilities are those obligations that need to be paid…

Q: On July 1, 2021, ABC Co. issued a 9% interest bearing note with a face amount of P 10,000,000 for…

A: carrying value of the notes as of December 31,2022  is P 8,227,384.90  accrued interest P 354,289.30…

Q: On January 1, 2019, Zoom Bank provided a loan of P4,000,000 to D Company. Under the loan agreement,…

A: An impairment loss is the amount by which the carrying amount of an asset or a cash-generating unit…

Q: On July 1, 2019, Lp Manufacturing Co. issued a five-year note payable with a face amount of P250,000…

A: Interest accrued on December 31, 2019 = Face value of note x rate of interest x no. of months/12 =…

Q: What is the interest income for 2022? Beach Bank loaned Boracay Company P7,500,000 on January 1,…

A: The term impairment refers to a situation when the fair value of the asset reduces below the…

Q: On December 31, 2020, London Bank granted a P5,000,000 loan to a borrower with 10% stated rate…

A: Loan is described as an amount which is lent by the lender or financial institution to the borrower…

Q: Green Bank loaned P9,000,000 to a borrower on January 1, 2018. The terms of the loan were payment in…

A: An impairment loss is a loss in the value of an asset due to a decrease in the recoverable amount…

Q: On January 1, 2020, Oceanic Bank made a P1,000,00ó 8% loan. The P80,000 interest is receivable at…

A: Since interest will be paid at the end of the 5 year loan term, no amount should be reported as…

Q: On January 1, 2019, Love Co. sold merchandise to Kit Store in exchange for a non-interest bearing…

A: Value of notes receivable as of January 1, 2019 = Annual payment x PVIAF (8%, 10 years) = P100,000 x…

Q: On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note…

A: Notes Payables: A liability account for notes payable is where a borrower records a written…

Q: On December 31, 2020, BROWN Bank has a 5-year loan receivable with a face value of 6,000,000 dated…

A:

Q: CPA Bank Co. loaned P4,000,000 to a borrower on January 1, 2018. The terms of the loan require…

A: The carrying value of a loan receivable is the present value of all the expected future receipts…

Q: On April 1, 2021, ABC CO. issued a 9% interest bearing note with a face amount of P 30,000,000 for…

A: Present Value Factor = 1(1+i)n where, i= market rate n= period

Q: On December 31, 2023, Sandy Company has a Note Receivable of $6,000. The note will be collected in…

A: Current asset can be converted into cash within 12 months whereas long term assets has a life of…

Q: On January 1, 2020, Jackie Company issued a note with a face amount of P5,000,000. The note carried…

A: Working note:  Computation of fair value of note after the modification of terms under Scenario A:…

Q: On April 1, 2021, ABC CO. issued a 9% interest bearing note with a face amount of P 30,000,000 for…

A: Interest bearing note:   When a company purchases a fixed asset, it is very difficult to pay the…

Q: Green Bank loaned P9,000,000 to a borrower on January 1, 2018. The terms of the loan were payment in…

A: Carrying value of the loan receivable is calculated by discounting the future cash flows from the…

Q: On December 31, 2016, Rocky Bank has a loan receivable of P4,000,000 from a borrower that it's…

A:

Q: What sum of money will be required will be required to discharge a loan of P7,800 on April 1.2020,…

A: The future value of a present value is the value of that amount after taking into account the time…

Q: On December 31, 2020, JKL Bank granted a P5,000,000 loan to a borrower with 10% stated rate payable…

A: Loan is a value which is taken from the other sources like banks and this amount is repaid later…

Q: Green Bank loaned P9,000,000 to a borrower on January 1, 2018. The terms of the loan were payment in…

A: Interest income is calculated by multiplying the rate of interest with the carrying value as on…

Q: On September 1, 2019, Silang Trading issued a note payable to Far East Bank in the amount of…

A: Accrued interest on the note = Face value of the note x rate of interest x no. of months/12

Q: On December 31, 2021, London Bank granted a P5,000,000 loan to a borrower with 10% stated rate…

A: Impairment loss: A less of the fair value of assets as compared to its carrying value (book value)…

Q: Green Bank loaned P9,000,000 to a borrower on January 1, 2018. The terms of the loan were payment in…

A: To calculate the carrying value to be presented in statement of financial position, discount the…

Q: ecember 31, 2024. Scenario B: The terms of the note were modified on June 30, 2022. The principal…

A: Working note: Computation of carrying value of note payable on June 30, 2022 before modification of…

Q: nt value of an ordinary annuity of 1 at 12% is 3.60 for five periods and 2.40 for three periods.…

A: Revenue recognition may be defined as a principle which says that revenue will be recorded in books…