contract is PLN 5 million Please calculate the settlement amount (given below as absolute value) of the contract in 30/360 convention and indicate which counterparty will receive this amount.
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- Please help me to answer all of the required with computation Number 21 to 25. thank youQ.3.2 On 1 January 2022 (the contract date), Furniture Ltd sold R1 200 000 worth of furniture to a new housing development in Centurion. Furniture Ltd immediately credited their sales revenue with the R1 200 000. Included in the sales contract, was a complementary servicing arrangement in which Furniture Ltd would provide the customer with annual servicing of the furniture (in case of any breakages or manufacturing faults) for a period of three years from the date of the contract. The normal selling price of the furniture without any annual servicing is R1 400 000. The normal price charged to customers for annual servicing is R14 000. REQUIRED: Calculate the amount of revenue that Furniture Ltd should recognise, for the financial year end of 30 June 2022, with respect to the transaction above. Ignore the time value of money and VAT. |||If in the contract of sale, it is indicated that the car which normally costs P1Million pesos was bought for P20,000.00, the contract is rendered? A. Valid B. Invalid C. Unenforceable D. Obligatory
- 1- Oman Construction Leasing Company SAOG (OCLC), a subsidiary of Muscat Grant Corporation signed a lease agreement with Muscat Mist Infustructure Companyon January 2020. The leasing company will provide drilling equipment according to following conditions: The term of lease is up to December 2023. The Lease agreement is non-cancelable and requiring equal rental payment of 200,000 OMR at the beginning of each year (Annuity due basis). Muscat Mist has approval for renewal before maturity for two times. The equipment has a fair value at the time of Lease Agreement was around OMR 980000OMR and an economic life of 2 years and no residual value.Muscat Mist pays all the executory costs directly to the third party except for the property tax of OMR 1500 per year which is included as a part of its annual payment to OOLC.Muscat MistInfustructure incremental borrowing rate is 12% per year.Muscat Mist depreciates similar equipment that it owns at a straight ling method depreciation.The targeted…2. On January 1, 2022, ABC Corporation entered into a 60-day put option contract for $30,000. Based on the PHP-USD rates below, what is the intrinsic value of the contract on Mar. 2, 2022? January 1, 2022 Spot Rate 30-day Forward Rate 60-day Forward Rate January 30, 2022 Spot Rate 30-day Forward Rate 60-day Forward Rate Mar. 2, 2022 Spot Rate 30-day Forward Rate 60-day Forward Rate Buying Rate 55.10 55.41 55.93 Buying Rate 55.38 55.71 56.04 Buying Rate 55.88 55.93 55.95 Selling Rate 55.67 55.43 55.96 Selling Rate 55.75 56.17 56.61 Selling Rate 55.73 55.79 55.82A forward contract covering a $10 million face value of T-bills that will have 100 days to maturity at contract settlement is priced at 1.96 on a discount yield basil. Compute the dollar amount the long must pay at settlement for the T-bills.
- What are the forms and characteristics of hedge accounting Bank B granted on 1.10.20X1 to company D a loan of €200,000 for 10 years with a fixed interest rate of 3%. The loan will be serviced with equal semi-annual installments plus interest that will be paid every 31/3 and 30/09 of each year, while bank B prepares interim financial statements. Wanted:Make the journal entries for the years 20X1-20X2 for company B(for calculations use a period of 90 days for each quarter and 360 days for the year)(AICPA) 6. On January 1, 20x8, Harrow Co. as lessee signed a five-year noncancellable equipment lease with annual payments of P100,000 beginning December 31, 20x8. The implicit interest rate is 10%. How much is the interest expense for the year ended December 31, 20x8? a. 37,900 (AICPA) b. 27,900 с. 24,200 d. 0In Note 11, of its 2018 financial statements, Chipotle (CMG) reported the following future operat- ing lease information: E5.12 Contractually required future minimum cash lease payments under existing operating leases as of December 31, 2018, are as follows: $ 294,191 296,579 294,941 295,290 2019 2020 . 2021 2022 290,980 2,478,397 2023 Thereafter. Total minimum lease payments $3,950,378 a. Assuming a discount rate of 5 percent, estimate the unrecognized asset and liability for assets acquired under operating leases for CMG at December 31, 2018. b. Given the estimated unrecognized liability calculated in part a., what impact does including this amount have on the liabilities of CMG reported on the balance sheet?
- P21.3 (LO 2) Groupwork (Lessee Entries and Statement of Financial Position Presentation) Ludwick Steel SA, as lessee, signed a lease agreement for equipment for 5 years, beginning December 31, 2022. Annual rental payments of €40,000 are to be made at the beginning of each lease year (December 31). The interest rate used by the lessor in setting the payment schedule is 6%; Ludwick's incremental borrowing rate is 8%. Ludwick is unaware of the rate being used by the lessor. At the end of the lease, Ludwick has the option to buy the equipment for €5,000, considerably below its estimated fair value at that time. The equipment has an estimated useful life of 7 years, with no residual value. Ludwick uses the straight-line method of depreciation on similar owned equipment. Instructions a. Prepare the journal entry or entries, with explanations, that Ludwick should record on December 31, 2022. b. Prepare the journal entry or entries, with explanations, that Ludwick should record on December 31,…answer in text form please (without image)ABC Enterprises entered into a five-year lease agreement on 1 November 2020, paying£10,975 per annum, commencing on 31 October 2021. The present value of the lease payments was £45,000 and the interest rate implicit to the lease was 7% What is the amount to be shown within non-current liabilities at 31 October 2021? Show your calculations.