On June 30, 2020, Amoro Company takes out a $5,000 loan documented through a note payable. Interest will be 16% annually and the note matures on June 30, 2021. The interest to be accrued at December 31, 2020 will be: о $400 0 $800 0 $0 0 $467

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

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

A:

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

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Q: Calculate the interest accrued for each of the following notes payable owed by Boundas Resorts as of…

A: Roof Point: From October 01, 2019 to December 31 , 2019 = 3 months Principal amount = $ 90000 Coupon…

Q: 3,000,000 Direct origination cost incurred                                  260,300 Origination fee…

A: An amortizing loan is a regular type of installment loan where the regular monthly payment is done…

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

A: Journal entries : On 01.01.2020, Nasty Bank granted a loan to a borrower. Principal amount = 4000000…

Q: China Bank granted a loan to a borrower on January 1, 2023. The interest rate on the loan is 10%…

A: To calculate the effective interest rate (EIR) of the loan, use the formula for the EIR of a loan.…

Q: What is the interest income for 2021? National Bank granted a loan to a borrower on January 1, 2021.…

A: First, calculate the carrying value of borrowed amount: Carrying amount=Principle amount+Direct…

Q: amount of interest to be recorded

A: Interest on note receivable = Amount of note receivable * Interest rate * Months of maturity/12…

Q: On January 1, 2020, MP's customer issued a 3 year 8% note, PHP 3,000,000 for services billed to be…

A: Carrying amount: It is the original cost of the asset that is reflected or shown in the balance…

Q: What is the interest income for 2021? Philippine Bank granted a loan to a borrower on January 1,…

A: Interest Income for 2021 = Principal amount* interest rate where,  Principal amount = $3,000,000…

Q: All In Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 10%…

A: Initial measurement amount=1000000-55200+30770 =975570

Q: note and interest at its maturity date? Cash 45144 Notes Receivable 43200 Interest Revenue 1944 O…

A: calculation Interest Revenue = 43,200 x 6% x 9 /12 = 1,944 Cash = Notes receivable + Interest…

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

A:

Q: On September 1, 2024, Daylight Donuts signed a $186,000, 6%, six-month note payable with the amount…

A: As interest is payable after 6 months i.e. on March 1,2025 however at the year end as per accrual…

Q: On 1st July 2020 Star LLC has accepted a note receivable for RO 2000 from one of the accounts…

A: Interest on note receivable shall be calculated from date of issuance till date of maturity.

Q: On January 1, 2019 Leroy Inc. signed a 3 year loan for $80,000 with interest rate of 10%.  The loan…

A: Annual instalment = Amount borrowed / Present value annuity factor (10%, 3 years) = $80,000 /…

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

A: Carrying value: It is the net book value of the asset at the end of the year after deducting…

Q: Showtime​, Inc. borrows $160,000 by issuing an 8%​, 5​-year note on January ​1, 2020. Showcase must…

A: Journal entries used to record accounting transactions in chronological order under double entry…

Q: XYZ Company lent $9,000 at 10% interest on December 1, 2019. The amount plus all interests accrued…

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

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: 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…

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A: Digital bank will recognize financial assets in his books

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

A: Carrying or book value is the worth of the asset or any debt when it is purchased.

Q: Philippine Bank granted a loan to a borrower on January 1, 2017. The interest on the loan is…

A: The following calculations are done for Philippine Bank.

Q: Vaughn Manufacturing lends Pina Colada industries $51600 on August 1, 2022, accepting a 9-month, 12%…

A: Note Interest means, with respect to any Investor at any time, the undivided interest in the Note…

Q: PROBLEM: EB Bank granted a loan to a borrower on January 1, 2019. The interest on the loan is 10%…

A: Particulars Amount Principal amount 35,00,000 Direct Origination cost 70,000 Indirect…

Q: Jane's Donut Co. borrowed OMR 50,000 on March 1, 2018, and signed a one-year note bearing interest…

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: On January 1, 2021, Nees Manufacturing lends $10,000 to Roberson Supply using a 9% note due in eight…

A: Simple Interest: When at the time of returning the loan to the bank, we have to pay back an amount…

Q: National Bank granted a loan to borrower on January 1, 2021. The interest on the loan is 10% payable…

A: Origination  fees will not form part of loan receivable

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

A: Lets understand the basics. For calculating interest payable at the year end, we will need to use…