The payment of accounts payable during the period isa. P75,000c. P210,000b. P180,000d. P215,000

The payment of accounts payable during a certain period is the amount of money a company owes to its…

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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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The BIR form used in quarterly remittance of VAT * O 1601EQ O 2550Q O 2551Q O 2551M
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?
s
19 - Enterprise X bank converted its $ 8000 registered in DTH at a rate of 3.20 TL to TL from 3.30 TL and made a transfer to its TL account in the same bank. Which is the registration to be made?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 01 X Bank TL Account 26.400 102 02 X Base DTH 25.600 646 Foreign Exchange Profit 800B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 01 X Bank TL Account 25.600 654 Provision Expenses 800 102 02 X Base DTH 25.600C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 X Base DTH 26.400 102 01 X Bank TL Account 25.600 646 Foreign Exchange Profit 800D) THE CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 X Base DTH 25.600 102 01 X Bank TL Account 26.400 646 Foreign Exchange Profit 800E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 01 X Bank TL Account 25.600 656 Foreign Exchange Loss 800 102 02 X Base DTH 25.600
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