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Problem 1: On December 31, 2020, JKL Bank granted a P5,000,000 loan to a borrower with 10% stated rate payable annually and maturing in 5 years. The loan was discounted at the market interest rate of 12%. Unfortunately, the financial condition of the borrower worsened because of lower revenue. On December 31 ,2022, the bank determined that the borrower would pay back only P3,000,000 of the principal at maturity. However, it was considered likely that interest would continue to be paid on the P5,000,000 loan. The present value of 1 at 12% is 0.57 for five periods and 0.71 for three periods. In addition, the present value of an ordinary annuity of 1 at 12% is 3.60 for five periods and 2.40 for three periods. Compute for the impairment loss on loan receivable to be recognized in 2022.
Assume that Aaron’s other itemized deductions in 2011 were $6,300 and that he filed as a head of household. Explain how much of the $1,300 reimbursement must he include in gross income in 2012?
Ajax Company appropriately accounts for certain sales using the installment sales method. The perpetual inventory system is used. Information related to installment sales for 2016 and 2017 is as follows: 2016 2017 Sales $ 400,000 $ 500,000 Cost of sa..
Calculate the expected return of a portfolio that is composed of 34 percent Stock A and 66 percent Stock B when the correlation between the returns on A and B
What is The present value of an ordinary annuity of? $1 for 20 periods at 3?% is 14.878m(Round your final answer to the nearest? dollar.)
$3,550,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity?
Journalize depreciation expense on the building for years 15 and 16. ?Tuff Hardware Consultants purchased a building for $1,098,000
Suppose that she had deposited this money into an investment account earning 5.4% interest, compounded quarterly. How much money would she have in that account
How do Show the accounting equation effects of each required adjustment. Mobol, a wireless phone carrier, completed its first year of operations on December
The Dunbar Zoo operates, Create the adjusting entries that were made by the Dunbar Zoo on December 31, 2017. If no adjusting entry is required
Often "high-flyer" stocks have high P/E ratios, yet analysts seek low P/E stocks. Are high or low P/E ratios more reliable as tools for valuation of stocks?
Healthy Living Co. is an HMO for businesses in the Seattle area. The following account balances appear on the balance sheet of Healthy Living Co.: Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) ..
BVC wrote off a $10,000 receivable on 12/23/XX. Record the journal entry for the write-off. Make sure to format your entries properly.
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