Determine the amount of the semi-annual amortization

Assignment Help Financial Accounting
Reference no: EM133017934

Question - On January 1 of year 1, Banamex approved a loan to Mercantil S.A. for $ 900.00 for a term of 3 years with fixed installments, payable semi-annually, at an interest rate of 7% per past six-month period.

1. Determine the amount of the semi-annual amortization?

2. Create the amortization table?

3. Prepare the budget card for year 2?

4. Within the structure of the budgeted income statement, where is interest reflected?

5. Leonardo Sánchez is responsible for preparing the financing budget for the company Mercantil S.A. What time is it most advisable for your operation? Justify your answer.

Reference no: EM133017934

Questions Cloud

What is the market price of a face value bond : The yield to maturity is 5,85 per cent and the maturity date is 9 years. What is the market price of a R1 000 face value bond
Covid-19 data exploration-analysis and predictions : Find at least three examples of data mining applications online being used in covid-19 data exploration, analysis and predictions.
Review the material on routers. : It is sometimes said that information extracted from a router or switch does not necessarily provide specific evidence of a particular crime.
Difference between city-states and nation-states : In the context of political systems, which of the following is a difference between city-states and nation-states?
Determine the amount of the semi-annual amortization : Banamex approved a loan to Mercantil S.A. for $ 900.00 for a term of 3 years with fixed installments, Determine the amount of the semi-annual amortization
Advantages and disadvantages of cloud computing : List three advantages and three disadvantages of cloud computing. Define virtualization and discuss how the cloud impacts it.
List the pros and cons of virtualization : Define virtualization and the various types of virtualization. List the pros and cons of virtualization.
What is the process for settling the sale of property : What is the process for settling the sale of property? You may refer to specific agency procedures or general processes.
Ethical concept of international business : Why do you think the ethical concept of international business will be the least likely to be relevant to a jewellery store which will operates in local area on

Reviews

Write a Review

Financial Accounting Questions & Answers

  What amount should be reported as total current assets

What is the total stockholder's equity? What amount should be reported as total current assets? What amount should be reported as total retained earnings?

  What the purpose of a discount price for bonds is to

Ling Company has $500,000 in total assets, $200,000 in total liabilities and $300,000 in shareholders' equity. Which of the following statement is incorrect?

  Improve the accuracy of CPT coding

What is your perception of coding using the CPT system with perspective to residents and attending physicians ? is there a discordance in current procedural terminology coding ? and does structure audit and feedback from physicians Improve the accura..

  What are the various business structures available

What are the various business structures available in the United States? Please provide a brief description of each.

  Identify the type of cost accounting system

Identify the type of cost accounting system - Prepare a flexible budget for manufacturing costs for activity levels between 8,000 and 10,000 units, in 1,000 unit increments.

  What was the operating cash flow for bfa corporation

Last year, BFA Corporation had net sales of $3,600,000 and cost of goods sold of $2,000,000. What was the operating cash flow?

  Calculate initial cash outflow for the grill eg time zero

The grill is expected to produce 550,000 tacos per year for the next 6 years, Calculate the initial cash outflow for the grill (e.g. the time 0 cash flow

  Prepare a journal entry to record the of the money

Assume now that the note requires blended installment payments of $30,192. Prepare the general journal entry to record the first installment payment.

  Find what is the forecasted inventory

Find What is the forecasted inventory in 2019 based on the information? Assuming the company will have the same inventory days in 2018 and 2019.

  Explain any four actions or transactions by management

State and explain any four actions or transactions by management and shareholders that could be harmful to the interests of debt holders

  Record all journal entries necessary to report transaction

Record all journal entries necessary to report these transactions. Glencoe Inc. operates with a June 30 year-end. During 2016, the following transactions occur

  Find what is the appropriate discount rate and why

Find What is the appropriate discount rate and why? The current risk free rate is 4% and the expected risk premium on the market portfolio is 7%.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd