The income statement of AS KLO for 2001 includes interest income of 6,100 euros. The statement of financial position (balance sheet) of AS KLO presents interest on receivables of 1,100 euros as of 31 December 2000 and 1,500 euros as of 31 December 2001. What amount of interest was received in 2001?
The income statement of AS KLO for 2001 includes interest income of 6,100 euros. The statement of financial position (balance sheet) of AS KLO presents interest on receivables of 1,100 euros as of 31 December 2000 and 1,500 euros as of 31 December 2001. What amount of interest was received in 2001?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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The income statement of AS KLO for 2001 includes interest income of 6,100 euros. The
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Step 1
Calculate the current year interest received as follows:
Current year interest = Interest income - Opening interest income + Closing interest income
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