What is the interest income and carrying amount of the loans receivable on March 31, 2010?

Q: National Bank granted a 10-year loan to Abbo Company in the amount of P1,500,000 with a stated…

A: Carrying Value at closing = Note receivable + Direct Origination Cost - Non refundable Origination…

Q: DAM Corporation, a lending institution, provided a loan to LAP company for $5,000,000 on Januray…

A: Loan origination fees include but are not limited to fees charged to the borrow as prepaid…

Q: A 3,300,000 loan was granted to a borrower by Norayma Bank with a nominal interest rate of 12% which…

A: Carrying value is the accounting value gauge wherein the value of a firm or resource is determined…

Q: On January 1 2021 Gundy Enterprises purchases an office building for $ 184,000 , paying $ 44.000…

A: Actual payment of loan = $184,000 – $44,000 = $140,000

Q: Mermaid Bank granted a loan to a borrower on January 1, 2020. The interest on the loan is 12%…

A: CARRYING VALUE It refers to the worth of an asset or a debt at the time it was purchased. Carrying…

Q: A financial institution made a  $2,000,000 ​1-year discount loan at 11​% interest, requiring a…

A: Effective interest rate on the loan with compensatory balance is always higher than the stated…

Q: M&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable…

A: The carrying value of the loan is calculated by discounting the future cash flows from the loan at…

Q: DAMIPERA Corporation, a lending institution, provided a loan to LAPERA Company for Php5,000,000 on…

A: On 01.01.2020, DAMIPERA corporation provided loan to LAPERA company = Php5000000 Loan term = 5 years…

Q: cember 31, 2023. After

A: Carrying value is the accounting value gauge wherein the value of a firm or resource is determined…

Q: On January 1, 2020, Empress Bank granted a loan to a borrower. The interest rate on the loan is 10%…

A: As per IFRS 9, Financial instruments, the financial asset recognized at amortized cost is initially…

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: Quick Print Press borrowed $20,000 from the Provincial Bank on May 25 at 7.5% and secured the loan…

A: 25-May Loan Amount  $                        20,000.00   Interest Rate 7.50% 10-Jul Partial…

Q: for the interest income for 2020

A: Since the effective interest rate after considering all the cost have already been provided, we…

Q: KMC Inc. provided a loan to Jim Ltd on January 1st, 2016 and received in exchange a 4-year, $120,000…

A: The note receivable is the assets, for which the cash would be received in future period.

Q: On January 31, 2019, YZ Company engaged in the following transactions: * Obtained a P500,000,…

A: Amount received from loan = Loan amount - discount = P500000 - (500000 * 12% * 6/12) = P470,000

Q: Assume that on December 1, 2015, your company borrowed $15,000, a portion of which is to berepaid…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: A company has a $500,000 30 year fixed loan payable at an interest rate of 4% monthly loan payments…

A: The entry for first month loan payment  are as follows

Q: On December 1, Milton Company borrowed $390,000, at 7% annual interest, from the Tennessee National…

A: Interest amount from December 1 to December 31 i.e. 1 month = 390,000 x 7% x 1 month/12 months…

Q: er 31, 2020. The loan matures in three years on December 31, 2022. Principal amount 5,000,000 Direct…

A:

Q: On December 1, 20x5, Money Co. gave Home Co. a P200,000, 11% loan. Money paid proceeds of P194,000…

A: Notes payable is a written agreement in which one party agrees to pay the other party a specific…

Q: On January 1, 2023, the city government provided  Swerte Company a zero interest, P6,000,000 loan…

A: Grants- Grants are financial assistance to institutions that promote some specially designated…

Q: Suga Bank granted a loan to a borrower on January 1, 2020. The interest rate on the loan is 10%…

A: Carrying value=Principal amount+Direct origination cost-Origination fee received from borrower=P…

Q: What is the carrying amount of the loan receivable on December 31, 2021? National Bank granted a…

A: The carrying amount of loan is calculated by preparing the amortization schedule and considering the…

Q: At the beginning of the year, your company borrows $33,600 by signing a six-year promissory note…

A: Solution A promissory note is a promise made by a party to pay a specified sum to another party at…

Q: M&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable…

A: A loan is a debt amount granted by banks or other financial institutions to borrowers. The duration…

Q: Upon January 1, 2020, Sally Corp. borrowed $360,000 from County Bank and signed a 15-year note…

A: It is simply a fee levied against the borrower for the use of an asset. Borrowed assets might…

Q: What is the carrying amount of the loan receivable on January 1, 2021? Appari Bank granted a loan to…

A: Solution- The carrying value of loan receivable on January 1,2021  Will be 4000000. Reason: Direct…

Q: BPI granted a 10-year loan to a borrower in the amount of ₱1,500,000 with stated interest rate of…

A: Notes can be defined as a financial security which provides interest to its holder. To deal in…

Q: Dirk Ward borrowed $12,000.00 for investment purposes on May 19 on a demand note providing for a…

A: Here, Borrowing Amount is $12,000 Interest Rate on May 19 is 4% Interest Rate from 1st August is…

Q: Loob Company had the following loans at 12% interest payable at maturity. The entity repaid each…

A: Interest is required to be paid on the amount borrowed from financial institutions. The interest…

Q: DBC Company has received a confirmation letter from the First National Bank of Miami (FNBM) about a…

A: 1) Prepare a table calculating average used balance, interest rate applicable, interest on unused…

Q: National Bank granted a 10-year loan to Abbo Company in the amount of P1,500,000 with a stated…

A: The question gives the following information:

Q: Maris Banking Corporation granted a loan to a borrower on January 1, 2020. The interest rate on the…

A: Introduction:- The following basic information as follows:- Loan receivables are balance that is…

Q: ⦁ ABC Corporation borrowed 24,000 on December 1, 2011, by issuing a two-month, 8 percent note…

A: Since there are multiple questions, we will solve first for you. To get the remaining questions…

Q: Mewto Bank granted a loan to Mew Company on January 1, 2020. The interest on the loan is 12% payable…

A: The loan borrowing and the cost of loan borrowing has a proper mechanism to calculate the cost…

Q: PELLUCID CLEAR Oo. has a 10%, P2,000,000 loan payable as of December 31, 20x1 which is maturing on…

A: Liability means any amount which a business owes to others, creditors, suppliers etc. Liability can…

Q: How much interest expense should be accrued

A: Interest charged on the principal amount at a fixed rate for a fixed period of time is known as…

Q: On January 2, 2021, Tripod Company receives a government loan of P2,000,000 paying a coupon interest…

A:

Q: Required: Based on the result of your audit, determine the following: __________1. Realized income…

A: Given Face value of Grant - P1,000,000 Implicit rate = 10% Term = 3 Years PVF @10% for 3 years =…

Q: On January 31, 2019, YZ Company engaged in the following transactions: • Obtained a P500,000,…

A: Amount received from loan = Loan amount - discount = P500000 - (500000 * 12% * 6/12) = P470,000…

Q: On July 1, 2017. Agincourt Inc. rendered services in exchange for a 4%. 8-year promissory note…

A:

Q: Dove granted an 8%, 3-year ₱6,000,000 loan to Crow Company on January 1, 2020. The interest on the…

A: Following is the answer to the given question

Q: On December 1, 2021, Nicole Company gave Dawn Company a P2,000,000, 12% loan. Nicole Company paid…

A: The following calculations are done for Nicole Company.

Q: Use the information presented below in answering questions 11-15.   On December 31, 2018, Tina…

A: "As per the policy of our company, we are allowed to answer only the first three sub-parts in case…

Q: On January 1, 2014, Fabco borrowed $5,000,000 from First Bank of Newburg. The loan had a term of…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…