Loan amount = $ 10000 on November 01, 2020 for 5 years Interest rate @10 PA Entry on December 31, 2020
Q: 1) If P175,000 is due on November 25,2019, find the proceeds on August 15, 2020, if the discount…
A: Since you have asked multiple questions, we will solve the first question for you as per policy.…
Q: On April 5, 2019, Janeen Camoct took out an 7.75% loan for $22,000. The loan is due March 9, 2020.…
A: solution given Amount borrowed $22000 Interest rate 7.75% Date of borrowing April…
Q: PT ABC issues a $800,000, 7%, 15-yearmortgage note on December 31, 2019. Theterms provide for annual…
A: Payment of principal = Annual installment payments - Interest expense
Q: At the end of 2020, the business has a notes payable with maturity value of TL18.000. The maturity…
A: Notes payable can be defined as the promissory note that is issued in behalf of the payment with the…
Q: Loan from Bank = $ 100000 on December 01, 2020 Interest rate per Annum = 10 % Loan period = 5…
A: In the given question, loan is taken on Dec 01, 2020 and entity closes its year on Dec 31, 2020.…
Q: A loan of P100,000 made today (December 7, 2020) at 8.75% simple interest rate will be repaid on…
A: Loan Amount = 100,000 Interest % = 8.75% Time Period = Dec 7 2020 to Feb 14 2021 = 69 days / 365 =…
Q: A debt of $7609.38 is due July 1, 2025. What is the value of the obligation on January 1, 2015, if…
A: The value of the obligation can be calculated as the present value of debt
Q: Bob's Builders Inc. enters into a 10-year, 6%, $200,000 mortgage to fınance the construction of a…
A: 1) journal on August 31 2020 Bank a/c Dr. 200000 To 6% Mortgage. 200000…
Q: /30/2020 Purchased a Building for $625,000. Paid $200,000 in cash and signed a 10 year note payable…
A: The adjustment entry is prepared to adjust the revenue and expenses of the current period.
Q: Present Value of a Single Sum What is the present value on January 1, 2019, of $10,000 to be…
A: If you received $100 today and deposited it into a savings account it would grow over time to be…
Q: $122093
A:
Q: pany carrying exchange interest bearing note of P5,000,000 requiring ten annual payments of…
A: Present value means the actual amount is adjusted with the interest rate so as to get the present…
Q: On January 1, 2020, Company A issued 10% bearing note payable in ten semi-annual instalments every…
A: 1. Present value of the bonds = Present value of principal + Present value of interest payments =…
Q: Awesome Bank granted a loan to a borrower on January 1, 2019. The interest rate on the loan is 10%…
A: Given Information, Principal Amount = 4,000,000 Direct origination Cost =$150,000 Origination fees…
Q: tioh pertain to installment sales of Lapillus Variety Store: payment: 20% ment sales: P545, 000 in…
A: Unrealized Gross Profit: It is profit which is not earned but expected as per the market value of…
Q: Compute the amount that can be borrowed under each of the following circumstances: 1. A promise to…
A: Present value: It can be defined as today’s value of the sum of money that will be received by the…
Q: An annuity pays $300 each on January 1 in the Year 2025, 2030, 2035, 2040 and 2045. The annual…
A: The sum of all succeeding, equal payments or deposits made at some point in the future represents…
Q: Computing Installment Payment on Note Payable On January 1, 2020, a borrower signed a long-term…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Express Jet borrows $100 million on October 1, 2021, for one year at 6% interest. For what amount…
A:
Q: On 1 January 2019 the total present value of all the investments is R75,998.34. If the interest rate…
A: Time value of money (TVM) refers to the method used to measure the amount of money at different…
Q: Michek Company loans Sarasota Company $2,000,000 at 6% for 3 years on January 1, 2020. Michek…
A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from…
Q: On January 1, 2020, a company buys a piece of equipment costing $666,633 with a 14% installment…
A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…
Q: Question6 On October 31,2020, farling Company negotiated a one year 100.000 kanc loan kom afgn barka…
A: Under Foreign exchange borrowing, loan and interest is adjusted as per foreign exchange rate as on…
Q: China Banking Corporation granted a loan to a borrower on January 1, 2020. The interest rate on the…
A: The carrying amount is the cost of a resource as reflected in an organization's books or accounting…
Q: Assume that a deposit made on January 1, 2020, earns 6% interest. The deposit plus interest…
A: The questions above differ from each other in terms of the number of compounding periods in a year.…
Q: Compute the amount that can be borrowed under each of the following circumstances: (PV of $1. EV of…
A:
Q: If $12,000 is deposited annually starting on January 1, 2020 and it earns 9%, how much will…
A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
Q: Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10%…
A: NOTE : As per BARTLEBY guidelines, when multiple questions are given then first question is to be…
Q: simple interest 1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3%…
A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…
Q: Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10%…
A: Comment - Multiple Questions Asked 1) Computation of Carrying Amount of Loan Carrying Amount of loan…
Q: seven-year useful equipment life term. he seven equal annual P800, paid on December 31, 2021. terest…
A: The leased equipment is initially recorded at the present value of lease payments. In this case the…
Q: On December 1, 2021, your company borrowed $30,000, a portion of which is to be repaid each year on…
A: given On December 1, 2021, your company borrowed $30,000, a portion of which is to be repaid each…
Q: Origination fee received from the borrower Nasty Bank granted a loan to a borrower on January 1,…
A: Preparation of journal entries Date Accounts titles and explanation Debit in dollars Credit in…
Q: Amortization Schedule - Long-term Note January 1, 2020 Wang Co borrows $40,000 at 5% for 7 years.…
A:
Q: Rp. 6,000,000 term 3 months , dated May 1, 2020. On June 2, 2020, money order the discounted with…
A: Concept of Note receivable discounting
Q: Problem 24 Safari Bank granted a loan to a borrower on Jan. 1, 2020. The interest on the loan is 8%…
A: Loan amortization table: It is a schedule that includes repayment of the loan’s principal &…
Q: Present Value of an Ordinary Annuity What is the present value on January 1, 2019, of 7 equal…
A: Annual Received = $30,000 Interest Rate(r) = 10% Installments (n) =7
Q: Required 1 Calculate the future value. On January 1, 2020, $30,000 is deposited into a savings…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: A debt of $5487.81 is due August 1, 2025. What is the value of the obligation on February 1, 2015,…
A: According to time value of money, Future value (FV) = present value PV×1+rmn×mwhere,r=interest…
Q: Benjamin Co. borTowed money on September 1, 2020. The loan had the following terms. Length: 5 years…
A: Calculation of Present Value of Cash Inflow Present Value of Cash Inflow Year Cash Outflow…
Q: please all parts Find the following accumulated values on December 31, 2020 a) $6000 invested on…
A: Compounding is a technique through which future value of present amount is computed at fixed rate.
Q: On March 31, 2020, Company A issued 18% bearing note payable in ten semi-annual instalments every…
A: It is pertinent to note that the carrying value of the note is the present value of all the cash…
Q: Determine the exact simple interest on P 5,000.00 for the period from June 10 2015 to November 21,…
A: Simple Interest is calculated using the following formula: = Principal * Rate * Time
Q: 1. Determine the exact and ordinary simple interest on P100,000.00 borrowed at 12% interest rate…
A: Exact and ordinary simple interest is a type of simple interest which are different on the basis of…
Q: Waterway Industries will receive $26500 today (January 1, 2020), and also on each January 1st for…
A: Total Present value is the sum of the present value of future cashflows Present value = future value…
Q: rent Attempt in Progress unland Company issues $19700000 of 10-year, 9% bonds on March 1, 2020 at 98…
A: Cash received at bond issue = issue price of bond + accrued interest till issue
Q: Hanschu Inc. issues an $800,000, 10%, 10-year mortgage note on December 31, 2020, to obtain…
A: Journal entry as at December 31,2020 is as follows:
Step by step
Solved in 2 steps
- Amount of an Annuity Beginning December 31, 2023, 5 equal annual withdrawals are to be made. Required: Using the appropriate tables, determine the equal annual withdrawals if 25,000 is invested at an interest of 12% compounded annually on: 1. January 1, 2023 2. December 31, 2023 3. January 1, 2020Value of an Annuity Using the appropriate tables, solve each of the following. Required: 1. Beginning December 31, 2020, 5 equal withdrawals are to be made. Determine the equal annual withdrawals if 30,000 is invested at 10% interest compounded annually on December 31, 2019. 2. Ten payments of 3,000 are due at annual intervals beginning June 30, 2020. What amount will be accepted in cancellation of this series of payments on June 30, 2019, assuming a discount rate of 14% compounded annually? 3. Ten payments of 2,000 are due at annual intervals beginning December 31, 2019. What amount will be accepted in cancellation of this series of payments on January 1, 2019, assuming a discount rate of 12% compounded annually?Present Value of an Annuity Ralph Benke wants to make 8 equal semiannual withdrawals of 8,000 from a fund that will earn interest at 11 % compounded semiannually. Required: How much would Ralph have to invest on: 1. January 1, 2019, if the first withdrawal is made on July 1, 2019 2. July 1, 2019, if the first withdrawal is made on July 1, 2019 3. January 1, 2019, if the first withdrawal is made on January 1, 2022
- Determining Loan Repayments Jerry Rockness needs 40,000 to pay off a loan due on December 31, 2028. His plans included the making of 10 annual deposits beginning on December 31, 2019, in accumulating a fund to pay off the loan. Without making a precise calculation, Jerry made 3 annual deposits of 4,000 each on December 31, 2019, 2020, and 2021, which have been earning interest at 10% compounded annually. Required: What is the equal amount of each of the next 7 deposits for the period December 31, 2022, to December 31, 2028, to reach the fund objective, assuming that the fund will continue to earn interest at 10% compounded annually?Cash Flow Amounts On January 1, 2019, Philip Holding invests 40,000 in an annuity to provide 8 equal semi-annual payments. Interest is 10%, compounded semiannually. Required: Compute the equal semiannual amounts that Philip will receive assuming that the first withdrawal is to be received on: July 1, 2019 January 1, 2019 July 1, 2022 January 1, 2024Amount of an Annuity John Goodheart wishes to provide for 6 annual withdrawals of 3,000 each beginning January 1, 2029. He wishes to make 10 annual deposits beginning January 1, 2019, with the last deposit to be made on January 1, 2028. Required: If the fund earns interest compounded annually at 10%, how much is each of the 10 deposits?
- Short-Term Debt Expected to Be Refinanced On December 31, 2019, Atwood Table Company has 8 million of short-term notes payable owed to City National Bank. On February 1, 2020, Atwood negotiates a revolving credit agreement providing for unrestricted borrowings up to 6 million. Borrowings will bear interest at 1% over the prevailing prime rate, will have stated maturities of 120 days, and will be continuously renewable for 120-day periods for 4 years. Atwood plans to refinance as much as possible of the notes outstanding with the proceeds available from this agreement. Assume that Atwoods December 31, 2019, year-end financial statements are issued on March 30, 2020. Required: Prepare a partial December 31, 2019, balance sheet for Atwood showing how the 8 million short-term debt should be reported. Next Level What is the justification for allowing short-term debt that is expected to be refinanced to be classified as a long-term liability.Future Values and Long-Term Investments Portman Corporation engaged in the following transactions during 2020: a. On January 1, 2020, Portman deposited $12,000 in a certificate of deposit paying 6% interest compounded semiannually (3% per 6-month period). The certificate will mature on December 31, 2023 b. On January 1, 2020, Portman established an account with Lee County Bank. Portman will make quarterly payments of $2,500 to Lee beginning on March 31, 2020, and ending on December 31, 2021. Lee guarantees an interest rate of 8% compounded quarterly (2% per 3-month period). Required: 1. Prepare the cash flow diagram for each of these two investments. 2. Calculate the amount to which each of these investments will accumulate at maturity. (Note: Round answers to two decimal places.)Using overdraft protection line. Grace Wang has an overdraft protection line. Assume that her October 2020 statement showed a latest (new) balance of $862. If the line had a minimum monthly payment requirement of 5 percent of the latest balance (rounded to the nearest $5 figure), what would be the minimum amount that she’d have to pay on her overdraft protection line?