for the interest income for 2020

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: On July 1, 2019, Lp Manufacturing Co. issued a five-year note payable with a face amount of P250,000…

A: The current liabilities section would include the maturity payment of $50000 and the interest…

Q: 0% interest $124,905 promissory note payable to Gallatin with the following terms. Scenario 2: Loan…

A: Lease payment The purpose of implementing the lease system into the business to reduce the capital…

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: 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: A student loan is offered under the following conditions: credit of 30, 000 euros at 3% over a…

A: The objective of the question is to calculate the constant annuities of a student loan and to draw…

Q: cember 31, 2023. After

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

Q: A student loan is offered under the following conditions: credit of 30, 000 euros at 3% over a…

A: The objective of the question is to calculate the constant annuities of a student loan and to draw…

Q: ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12%…

A: The question requires calculation of interest on December 31 , 2022. Given that , Interest payable =…

Q: How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client…

A: Interest Income  Interest income refers to the amount of money that is paid by the borrower to the…

Q: On January 1, 2020, James Co. received a 10% , five year note from a customer. Interest is paid…

A: Lets understand the basics. When effective interest rate is more than the note interest rate then,…

Q: Discount Mart borrows $400,000 on November 1, 2020 with a 6-month loan that has an annual interest…

A: Interest Payable on December 31, 2020 = Amount borrowed x rate of interest x no. of months /12 =…

Q: In 2019, Rouchele Co. borrowed $200,000 on a 5% long-term note payable. In each of the following…

A: Long-term debt is a liability to be repaid after one accounting year. It is also called non-current…

Q: On December 1, 2021, your company borrowed $15,000, a portion your company will make the following…

A: Answer : On December 31,2021 $2000 of the loan will be presented as current liability because it is…

Q: On December 31, 2020, Chase Bank has a 5-year loan renewable with a face value of $5,000,000 dated…

A: 5 year Loan               = $5000000 Accrued Interests       =   $500000 Total receivable…

Q: What amount of the payment made on January 1, 2022 will be interest expense?

A: Amount Borrowed = $360000 Interest Rate = 4% Fixed Annual Payment = $32379 Interest to be paid on…

Q: What is the amount of loan extended to MAPCD Co

A: An extended loan means when the amount of the loan is increased by the lender of the loan. the note…

Q: Entei Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on…

A: Here in this question we are required to find out the total interest income to be presented on the…

Q: Allen Inc. took out a 1-year, 8%, $100,000 loan on March 31, 2018. Interest is due upon maturity of…

A: Formula: Interest expense = Loan amount x Interest rate x Time period

Q: On January 1, 2022, Strive Bank loaned P2,000,000 to Strike Company. Under the loan agreement, the…

A: Credit risk of loan is the default in the payment of the loan amount due to the financial…

Q: On June 30, 2019, BM Corporation issued a five-year note payable with a face amount of P1,000,000…

A: Accrued interest on December 31,2020 = (face value of note -  annual payment made on June 30, 2020)…

Q: At the end of 2022, the following information is available for Great Adventures.• Additional…

A: Introduction   “Since you have posted a question with many sub-parts, we will solve three sub-parts…

Q: en Company borrowed $150,000 from Lyon Country Bank. The terms of the loan agreement specified 4…

A: Liability -The term "liability" refers to any type of debt that a company has to a person or another…

Q: The owner of Jewel Company had a loan from Metrobank amounting to ₱500,000. The bank requires the…

A: Accrued interest on loan ( from November 1, 2020 to December 31, 2020 ) = ₱500,000 x 12% x 212 =…

Q: Jones Company signed a 5-year note payable on January 1, 2020, of $100,000. The note requires annual…

A: Interest = Principal Balance x Rate x Time

Q: Metrobank made a $2,000,000, 8% loan on January 1, 2018. The $160,000 interest is receivable at the…

A: Loan impairment loss is the amount of difference between the fair value and carrying value of the…

Q: (a) Prepare an installment payments schedule for the first 4 years. (b) Prepare the entries for (1)…

A: Year Opening balance Interest @8% Total Amount due Installment paid Closing Balane a b c= b x 8% d…

Q: On January 1, 2020, MWB, Inc. borrowed cash by issuing a $600,000, 6-year note that specified 6%…

A: solution given Face value $600000 Life 6 year Coupon rate 6%   If interest to…

Q: Lugia Bank granted a P4,000,000 loan to Ho-oh Company on January 1, 2020. The annual interest of the…

A:

Q: Create a loan repayment schedule for a loan of $30295 and payments of $8482 made annually. Assume a…

A: Given, Loan amount: $30,295 Annual payment: $8,482 Interest rate: 6.13% per year (compounded…

Q: Carla Vista Company issues a 8%, 7-year mortgage note on January 1, 2022, to obtain financing for…

A: Notes payable are the accounts that a lender offers to a corporation to retain in order to pay back…

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: In January 1, 2020, Mega Corporation issued a $55,000, three-year, 6% installment note from Biggest…

A: In January 1, 2020, Mega Corporation issued a $55,000, three-year, 6% installment note from Biggest…

Q: On October 1, 2020 John's Barber Shop borrowed $14,000 at 8% interest, with principal and interest…

A: Interest will be booked on proportionate basis, which means that the interest shall be booked for…

Q: Suicune Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on…

A: Effective Interest Rate- The effective rate of interest is the interest rate that can be paid or…

Q: current liabilities section

A: The first annual payment of P200,000 is made on June 30, 2020. The balance of note payable will be…

Q: Money Bank granted a loan to a borrower on January 1, 2022. The interest on the loan is 14% payable…

A: As per the amortization method, the value of the investment is initially recognized at fair value…

Q: Tolino Company signed a 5-year note payable on January 1, 2020, of $200,000. The note requires…

A: Notes Payable is an instrument issued by the borrower to the payee. A promissory note that carries a…

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…