Reference no: EM133006930
PROBLEM 1 - On December 1. 2020, Fanny Co. gave Estes Corp. a P400,000, 12% loan. Estes received proceeds of P388300 after the deduction of a P12,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of P8300, beginning January 1, 2021. The repayments yield effective interest rate of 12% at a present value of P400300 and 13.4% at a present value of P388,000.
1. What amount of accrued interest receivable should Fanny include in its December 31, 2020, statement of financial position?
2. How much is the carrying amount of the loan receivable on December 31, 2020?
PROBLEM 2 - Selena, Inc. borrowed from Karina Bank under a 10-year loan in the amount of P300.000 with a stated interest rate of 6%. Payments are due monthly, and computed to be P3330. Karina Bank incurs P8,000 of direct loan origination costs and P4300 indirect loan origination costs. In addition. Karina Bank charges Selena, Inc. 4% nonrefundable loan origination fee. At what amount should the loan receivable be initially recognized by Karina Bank?
|
What is the gp share of profits earned
: In 2017, after the fund earns profit of $10,000 that calendar year, it has a cumulative profits, What is the GP share of $10,000 profits earned in 2017?
|
|
What amount of cash did franco received from the bank
: Franco, Inc. received from a customer a one-year, P1,000,000 note bearing annual Interest of 8%. What amount of cash did Franco received from the bank
|
|
What would consider as best for the consumers
: What would consider as "best for the consumers" in light of the overwhelming number of regulatory mandates and agencies involved in providing health care
|
|
What are the issue related to dilemmas in bioethics
: What are the issue related to dilemmas in bioethics. You are to introduce the dilemma frame a series of questions to put about how this dilemma might be
|
|
At what amount should the loan receivable be
: Karina Bank charges Selena, Inc. 4% nonrefundable loan origination fee. At what amount should the loan receivable be initially recognized by Karina Bank
|
|
What the periodic interest expense is equal to
: Under the effective-interest method of bond discount or premium amortization, the periodic interest expense is equal to? the market rate of interest multiplied.
|
|
Calculate effective annual interest
: Calculate effective annual interest of an investment which pay 12.6 percent stated annual rate of interest compounded annually
|
|
What the net present value using the rate of return is
: What the net present value using the rate of return of 8% is? The Joshua Company contemplates the replacement of certain machinery.
|
|
What is the gain or loss from change in fair value
: What is the gain or loss from change in fair value to be recognized in profit or loss in 2016? Is it a gain or loss? Are the statement correct or incorrect
|