The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated. Debt Principal Debt Payment Payment Interval Interest Rate Conversion Period Outstanding Principal After: $13,000 $1,493 6 months 6% monthly 8th payment

The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated. Debt Principal Debt Payment Payment Interval Interest Rate Conversion Period Outstanding Principal After: $13,000 $1,493 6 months 6% monthly 8th payment

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

See similar textbooks

Similar questions

True (t) or False (f) _____ Current maturities of long-term debt refers to the amount of interest on a note payable that must be paid in the current year)
An amortization of a debt is in a form of a gradient series of ₱5,000 on the first year, ₱4,500 on the second year, ₱4,000 on the third year, ₱3,500 on the fourth year. Determine future amount of the amortization if interest is 5%. Ans. ₱18,449.37
Calculate: a. Average Receivable days/ Debtors collection periodb. Average Payable days/ Creditors collection period
Refering from the below tables What is the current portion of long-term liabilities reported and for what type of liabilities? Non-current liabilities Long term financing 6,728,738,161 Deferred liabilities 491,518,519 Long term payables - Current liabilities Trade and other payable 2,525,6236,858 Accrued interest 124,294,821 Short term borrowing 4,657,389,209 Current position of long-term payable 457,090,780 Current position of long-term Financing 1,628,822,242 Provision for taxation 238,198,131
n the credit account statement below, the values of the annual percentage rate (APR), finance charge, and the new balance must be calculated. PreviousBalance AnnualPercentageRate (APR) MonthlyPeriodicRate(as a %) FinanceCharge(in $) Purchasesand CashAdvances PaymentsandCredits NewBalance(in $) $1,026.61 1.75% $322.20 $300.00 Recall that the annual percentage rate (APR) is tied to the monthly periodic rate by the following formula. monthly periodic rate = APR 12 By solving this equation for the APR, the known value for the monthly periodic rate can be substituted to calculate the APR. APR = monthly periodic rate ✕ 12 The monthly periodic rate is given to be 1.75%. Find the APR. APR = 12 ✕ monthly periodic rate = 12 ✕ ____ % = ____%
On July 1 of the current year, an entity received a one-year note receivable bearing an interest rate at the market rate of interest. The face amount of the note receivable and the entire amount of interest are due in one year. This note should be recorded at A. Discounted value of cash flows B. Face value C. Fair value D. Maturity value
. A debt of P3,500 is to be amortized by 6 equal semiannual payments with interest at 6%compounded semiannually. Find the periodic payment and construct on amortization schedule.
The Cidros reported the following information on long-term debt: Current year Previous year Total long-term debts $14,578 millions $18,564 millions Minus the current portion (1,290) millions (1,540) millions Long-term debts 13,288 millions 17,024 millions Determine how much total current liabilities changed between the previous year and the current year as a result of the long-term debt portion. Explain your answer.Indicates the balance of the debt the following year if The Cidros does not acquire another long-term debt in the next few years.
What is the correct answer? The semi-annual interest expense to be recorded using the straight line method of interest amortization on $46,000, ten-year, 6 percent bonds that are issued at 98 is a. $1,426 b. $1,380 c. $1,334 d. $2,852
Which of the following is true of a fully amortized loan? A. The amount of the payment applied to the principal remains the same during the loan period. B. Equal amounts of the payment are appiled to the principal Interest, taxes, and insurance. C. Additional payments applied to the interest during the loan period reduce the number of monthly payments required. D. Additional payments applied to the principal during the loan period reduce the number of monthly payments required
All payables that require payments at a future determinable date are subject to present value techniques except which of the following specifically excluded types? Security deposits or progress payments under construction contracts Short-term debt refinanced in the current year on a long-term basis Regular accounts payable due after one year Bond interest and principal payments due after one year
If the sale of bonds falls between interest dates, interest accrued since the last interest payment would be O a. added to; debited to Interest Revenue O b. subtracted from; debited to Interest Revenue O c. subtracted from; credited to Interest Revenue O d. added to; credited to Interest Revenue the sale proceeds and