What is the total receivable related to the loan to ABC on Dec. 31, 2021?

Q: On February 1st, 2021, Seen This Before Inc. (STB) accepted a non-interest-bearing note from its…

A: GIVEN   On February 1st, 2021, Seen This Before Inc. (STB) accepted a non-interest-bearing note from…

Q: On January 1, 2020, Victoria Company borrowed ₱600,000 8%, noninterest-bearing note due in four…

A: solution : given face value of note  = 600,000 present value of note    =441000 date of issue   =…

Q: On October 31, 2020, JP Company engaged in the following transactions: Obtained a P500, 000, six…

A: Here account  receivable  is given as pledge  upto P500000

Q: 1. Eastwest Bank extended a 3-year $5,000,000 loan to Nick Company on January 1, 2020. The interest…

A: The following computations are done as per the given information.

Q: On May 1, 2020, Janine Company secured a loan from NorthSouth Bank, P1,250,000 with 1% monthly…

A: Here in this question, we are required to calculate the interest amount and final payment amount.…

Q: On December 1, 2020, Lush Soma Company assigned specific accounts receivable totaling P5,000,000 as…

A: Part 1:

Q: On June 30, 2021, BTS Company factored P2,500,000 of accounts receivable for P2,250,000. The…

A: Loss on factored = (Accounts receivable - allowance for uncollectible accounts) - Amount received =…

Q: On June 30, 2019, Franz Inc. borrowed P1,800,000 for one year from the bank with an interest of 12%.…

A: Bank charges = accounts receivable  x 8.46% = 2500000 x 8.46% = P211,500

Q: On May 1, 2020, Christina Fashions borrowed $106,000 at a bank by signing a four-year, 6% loan. The…

A: Interest payable is a liability any individual or company owes for the obligation to be repaid. It…

Q: On December 31, 2020, Holmes Company has $7,000,000 of short-term debt in the form of notes payable…

A: Prepare partial balance sheet for Holmes Company at December 31, 2020.

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: At January 1, 2021, BB Industries, Inc., owed Second Bank $24 million, under a 10% note due December…

A: Sometimes there will arise a situation that borrower will not be able to pay the bank the principal…

Q: On February 10, 2021, after issuance of its financial statements for 2020, Ikli Company entered into…

A: Current liabilities: Liabilities that have to be paid within one year or one operating cycle,…

Q: On December 31, 2020, the Bato-bato Finance Company had P5,000,000 notes receivable from Burgundy…

A: An impairment loss is a loss that is incurred due to a decline in the value of an asset…

Q: s of January, February, September and October of 2021 were 8.50%, 9.25%, 9.60% and 9.80%. How much…

A: Interest rates have a direct influence on the deposit multiplier and, by extension, inflation…

Q: On January 1, 2014, ABC Company, a calendar-year firm, gave a loan to XYZ Enterprises  amounting to…

A: SOLUTION CARRYING VALUE IS AN ACCOUNTING MEASURE OF VALUE IN WHICH THE VALUE OF AN ASSET OR COMPANY…

Q: On February 10, 2010, after issuance of its financial statements for 2009, House Company entered…

A: GIVEN   On February 10, 2010, after issuance of its financial statements for 2009, House Company…

Q: On April 1, 2020, NYC Corporation secures a loan with a finance company, using its accounts…

A: Formula: Finance charge amount = Receivable amount x % of charge

Q: On December 31, 2020, Firth Company borrowed $62,092 from Paris Bank, signing a 5-year, $100,000…

A: Borrowed amount = $ 62092 Interest to yield = 10% Market rate of interest is 11% On December 31 ,…

Q: On December 1, 2021, Boxer Company assigned P 400,000 of accounts receivable to Karate Company as a…

A: The amount owed to a company for goods or services delivered or used but not yet paid for by…

Q: Pepper, Inc. had the following receivable financing transactions in 2021: a) At the beginning of…

A: SOLUTION A JOURNAL IS AN OFFICIAL ACCOUNTING BOOK IN WHICH ALL BUSINESS TRANSACTIONS ARE RECORDED IN…

Q: On December 31, 2020, the Reliable Finance Company had P5,000,000 notes receivable from Burgundy…

A: When there are certain indications that the recoverable amount from the asset has been declined…

Q: On June 30, 2021, the High Five Surfboard Company had outstanding accounts receivable of $600,000.…

A: Cash received = Total amount of promissory note - Finance charges = $450,000 - $600,000*1.8% =…

Q: On June 30, 2019, Franz Inc. borrowed P1,800,000 for one year from the bank with an interest of 12%.…

A: Answer: correct answer is option C C. P 1,588,500; P 319,500

Q: On January 1, 2021, Mickey Mouse Corporation borrowed P1,500,000 from Minnie Mouse Bank and issued a…

A: In the given question, Mickey Mouse Corporation bought P1,500,000 from Minnie Mouse Bank and issue…

Q: On December 31, 2020, Iva Majoli Company borrowed $62,092 from Paris Bank, signing a 5-year,…

A:

Q: On January 1, 2021, a company borrowed $500,000 from a local bank by issuing an 8% note due in four…

A: Amortization schedule of loan: It can be defined as a table that shows the expense of interest,…

Q: At December 31, 2020, Kisu Company’s liabilities include the following:A. P10 million of 10% notes…

A: Current liabilities are the company's short term financial obligations which are due within one year…

Q: On February 10, 2012, after issuance of its financial statements for 2011, House Company entered…

A: Financial obligations that are projected to be paid off within a year are referred to as short-term…

Q: Show solutions On December 1, 2021, Autumn company assigned on a non- notification basis accounts…

A: Accounts assigned = accounts receivable X 80% = Php3,000,000 X 80% = Php2,400,000

Q: On December 31, 2020, Gibson Company has $18,200,000 of short-term debt in the form of notes payable…

A: Prepare partial balance sheet for Gibson Company at December 31, 2020.

Q: On May 1, 2020, Christina Fashions borrowed $106,000 at a bank by signing a four-year, 6% loan. The…

A: Interest is the amount paid over and above the principal amount to the lender. Basically, it is the…

Q: On April 1, 2020, Bonita Company assigns $533,000 of its accounts receivable to the Third National…

A: Finance Charge = Accounts receivable  x 3% = $533,000 x 3% = $15,990

Q: Bank CO approved a loan application of Client ME on January 1, 20A for P3,500,000. Client ME is…

A: A contra account is used in a general ledger to reduce the value of a connected account when the two…

Q: On December 31, 2020, Oriole Company has $6,941,000 of short-term debt in the form of notes payable…

A: Notes payable  that expected to be refinanced Minimum= 5949000×52% =$3093480 Maximum=7947000× 52%…

Q: On December 31, 2020, the Reliable Finance Company had P5,000,000 notes receivable from Burgundy…

A: Working Notes: Computation of present value of restructured notes receivable. 400000 * 0.83 =…

Q: On December 31, 2021, Oregon Bank recorded an investment of P5,000,000 in a loan granted to a…

A: Solution- PV of principal (5,000,000 x .75)                                  =3,750,000 PV of…

Q: On January 1, 2019, Wolverine Corporation borrowed $1,450,000 by signing a note from Spartan City…

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

Q: On Jan. 1, 2021, ABC Corporation entered into a P5,000,000 IRG 1-10, 9% contract with its bank.…

A: The cash to be received from a contract at any point in time is equal to the initial value of the…

Q: On January 1, 2021, Banco de Oro made a 1,000,000 8% loan with interest receivable at the end of…

A: Principal Repayment- A principal payment is an imbursement that goes toward the reimbursement of the…

Q: On January 1, 2020, Young Associates borrowed $600,000 from Mountain Bank and signed a 6% four-year…

A: Amortization table is a schedule which shows periodic lease or loan payments. The periodic payment…

Q: On April 1, 2020, Bonita Company assigns $533,000 of its accounts receivable to the Third National…

A: journal entry for cash collected from accounts recievable =  cash account XX     To Accounts…

Q: On December 31, 2020, the Reliable Finance Company had P5,000,000 notes receivable from Burgundy…

A: Impairment loss refers to the substantial decline in the carrying value of asset. It is calculated…

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: Trisha Company had a ₱2,400,000 note payable due June 30, 2021. On December 31, 2020, the entity…

A: Current liabilities are those dues and obligations which needs to be settled or paid in short 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: The following information are provided by Narra Company on its fiscal year ending October 31, 2020.…

A: Current liabilities refer to the amount of liability for which payment is due within a year or the…

Q: ,000 on November 1, 2020. On the same date, the company issued a 60 day, 12% promissory note to the…

A: When the interest expense is accrued for the period, it becomes an obligation and is transferred to…

Q: On January 1, 2020, Sukuna Bank loaned 4,000,000 to Satori Company. The interest of the loan is 7%…

A: Initial measurement of loans receivables is Fair value plus transaction costs. Direct origination…