Reference no: EM132818420
Davao Bank loaned P7,500,000 to a borrower on January 1, 2018. The terms of the loan were payment in full on January 1, 2023, plus annual interest payment at 12%. The interest payment was made as scheduled on January 1, 2019. However, due to financial setbacks, the borrower was unable to make its 2020 interest payment and Davao Bank considers the loan impaired and projects the cash flows from the loan as of December 31, 2020. The bank has accrued the interest at December 31, 2019, but did not continue to accrue interest for 2020 due to the impairment of the loan.
The projected cash flows are:
Date of cash flow Amount projected as of Dec. 31, 2020
December31, 2021 500,000
December31, 2022 1,000,000
December31, 2023 2,000,000
December31, 2024 4,000,000
The present value at l2% is as follows:
For one period 0.89
For two periods 0.80
For three periods 0.71
For four periods 0.64
Required:
Problem 1: Compute the impairment loss of the loan receivable on December 31,2020.
Problem 2: Table of amortization for the loan receivable.
Problem 3: Prepare journal entries for 2018 - 2024.
|
Explain the process of writing prescriptions
: Explain the process of writing prescriptions, including strategies to minimize medication errors
|
|
Make table of amortization for the loan receivable
: Compute the carrying amount of the loan receivable on December 31,2020, December 31, 2021, December 31, 2022. Make Table of amortization for the loan receivable
|
|
Describe the interconnected structure of bone and muscle
: 1. Provide examples of skeletomuscular cooperation that promote survival in modern life. 2. Describe the interconnected structure of bone and muscle.
|
|
Efficiency of aerobic and anaerobic cellular respiration
: a. Calculate the efficiency of both aerobic and anaerobic cellular respiration. (Show your work)
|
|
Compute the impairment loss of loan receivable on december
: Compute the impairment loss of the loan receivable on December 31,2020. Davao Bank loaned P7,500,000 to a borrower on January 1, 2018.
|
|
Which bones are most likely to get fractured
: Which bones are most likely to get fractured? And when fractured,
|
|
Regulation of the enzyme phosphofructokinase
: At step 3 of glycolysis, allosteric regulation of the enzyme phosphofructokinase occurs with the level of ATP molecules in a cell.
|
|
How should record the revenue earns-over the year
: Building a highway system, and construction will take three years. How do you think it should record the revenue it earns-over the year or over three years?
|
|
Which of the preceding adjustments would have not made
: Biased to report a better operating performance for the period than actually occurred, which of the preceding adjustments would he have not made and why?
|