Book value of debtBank overdraftsBorrowings539723556Amnt due to related paties $4800213.0& Leasse Mability.Trade and other payablerS Trade6 fited Current Liabilities.11864424 679548871Required. Which of these form part ofdebtofbook value

The objective of the question is to identify which items from the given list form part of the book…

Answered: Book value of debt Bank overdrafts…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A7
E10.7 (LO 2) (Analyze instalment payment schedule.) The following instalment payment schedule is for a long-term bank loan payable: Interest Period Issue date 1 2 3 4 5 Instructions Cash Payment $23,097.48 23,097.48 23,097.48 23,097.48 23,097.48 Interest Expense $5,000.00 4,095.13 3,145.01 2,147.38 1,099.88 Reduction of Principal $18,097.48 19,002.35 19,952.47 20,950.10 21,997.60 Principal Balance $100,000.00 81,902.52 62,900.17 42,947.70 21,997.60 0 ☐ a. Assuming payments are made annually, what is the interest rate on the bank loan? b. Prepare the journal entry to record the first instalment payment. c. What are the current and non-current portions of the bank loan after the payment at the end of period 2? Σ
Assuming a 360-day year, the interest charged by the bank, at the rate of 6%, on a 90-day, discounted note payable of $106,407 is
Collateralized Debt Obligations (CDO’s) are pools of__ a) all tranches of MBS b) the mezzanine and equity tranches of MBS c) senior tranches of MBS d) AAA tranches of MBS
Discount Cash Premium Interest payable Par Interest expense Discount on bond payable Yes Bonds payable No Loss on redemption Gain on redemptin Cash Interest payable Interest receivable Notes payable Gain on restructuring Loss on restructuring Discount on Note payable Premium on Note payable Bad debt expense Allowance for bad debts
Question Content Area The journal entry a company makes for the issuance of bonds when the contract rate is less than the market rate would be a. debit Cash, credit Premium on Bonds Payable and Bonds Payable b. debit Cash, credit Bonds Payable c. debit Cash and Discount on Bonds Payable, credit Bonds Payable d. debit Bonds Payable, credit Cash
E10.7 (LO 2) (Analyze instalment payment schedule.) The following instalment payment schedule is for a long-term bank loan payable: Interest Period Issue date 1 2 3 4 5 Instructions Cash Payment $23,097.48 23,097.48 23,097.48 23,097.48 23,097.48 Interest Expense $5,000.00 4,095.13 3,145.01 2,147.38 1,099.88 Reduction of Principal $18,097.48 19,002.35 19,952.47 20,950.10 21,997.60 Principal Balance $100,000.00 81,902.52 62,900.17 42,947.70 21,997.60 0 a. Assuming payments are made annually, what is the interest rate on the bank loan? b. Prepare the journal entry to record the first instalment payment. c. What are the current and non-current portions of the bank loan after the payment at the end of period 2?
8. The following information about Lapus Incorporation that borrows by pledging its receivables are as follows: Average balance of accounts receivable Annual receivables turnover (360/ACP) Administrative fee charged on all new receivables Interest rate on outstanding loans Percent of receivables accepted What is the effective cost of financing stated as an annual rate? a. 12.0% b. 14.0% c. 21.6% d. 24.0% P100,000 6x 2% 12% 80%
#45 A type of short-term loan where the borrower sells its accounts receivables to the lender at a discount to face value is called: a bond. a compensating balance. a letter of credit. an assignment. factoring.
Adjusting Allowance for Doubtful Accounts and Bad Debt Expense Merck & Company reported the following in its financial statements. $ millions Accounts receivable, net Allowance for doubtful accounts 2016 2017 2018 2019 $8,773 $8,591 $8,839 $8,473 244 199 149 108 Adjust the balance sheet and income statement to reflect a 1.97874% of Allowance for doubtful accounts to Gross accounts receivables for each year. Assume a tax rate of 20%. • Round answers to one decimal. • Use a negative sign to indicate if the adjustment decreases an account balance. 2016 2017 2018 2019 Adjusted allowance for doubtful accts. $ $ $ $ Income Statement Adjustments Bad debts expense Income tax expense at 20% Net Income Balance Sheet Adjustments Allowance for doubtful accounts Accounts receivable, net Deferred tax liabilities Retained Earnings
Consider the relative liquidity of the following assets: Assets 1. A bond issued by a publicly traded company 2. The funds in a money market account 3. A $20 bill 4. Your truck Select the assets in order o Most Liquid Second-Most Liquid Third-Most Liquid Least Liquid Bond 520.00 bill Truck Funds held in a money market account quid.
Yu.4

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Book value of debt Bank overdrafts Borrowings 53972 3556 Amnt due to related paties $4800 21 3. 0 & Leasse Mability. Trade and other payabler S Trade 6 fited Current Liabilities. 11864 424 679 548871 Required. Which of these form part of debt of book value