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Question - On December 31, 2018, Conchita Martinez Company signed a $1,000,000 noninterest-bearing note to Sauk City Bank. The market interest rate at that time is 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Considering these data, the bank released cash to the company amounting to $927,908; i.e., the total of the present value of the principal and interest. Unfortunately, because of lower sales, the company's financial situation worsened. On December 31, 2020, when the carrying amount of the loan is determined to be $951,968, Sauk City Bank determined that it was probable that the company would pay back only $600,000 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,000,000 loan. The present value of 1 at 12% for 3 years is 0.71178 and the present value of an ordinary annuity of 1 at 12% for 3 years is 2.40183. How much impairment loss should the bank recognize on December 31, 2020?
Coffee Shop Doughnuts has current assets of $280 million; property, plant, and equipment of $430 million; and other assets totaling $170 million. Current liabilities are $170 million and long-term liabilities total $300 million. Use these data to wri..
How to use large data sets to explore international diversification and Identify the costs and benefits of international investing through Portfolio
Prepare the adjusting entries for the month of June and post the adjusting entries to the ledger accounts. Enter the totals from the trial balance as beginning account balances. Use T accounts.
Andrew earns $100,000 per year in salary. he puts $6,000 per year in his 401k and his employer matches it. his company offers a cafeteria plan and Andrew pays his share of his medical insurance premiums of $5,000 per year through the cafeteria plan. ..
If you have a chance to be one of the bank manager, you require to develop model for management of asset, and liquidity to prevent from bank collapse.
Assuming that the book value method was used, what entry would be made? (Credit account titles are automatically indented when the amount is entered)
Prepare an email summary (no more than 250 words) to the president of MIPS Electronics summarizing the benefits and limitations of a workflow management system.
If you plan on retiring at age 65, what age must you be today if you started funding your retirement immediately?
You form a portfolio with 60% of your investment in company 1 and remaining 40% in company 2. What is the expected return and standard deviation of portfolio
FCF is expected to grow at a constant rate of 8%. The company's weighted average cost of capital is 12%. Calculate Kendra value of operations
Last year, Jane identified $50,000 as a nonbusiness had debt. In that tax year, before considering the tax implications of the nonbusiness bad debt, Jane had $100,000 of taxable income, of which $5,000 consisted of short-term capital gains This year,..
Would ''human assets'' meet the conventional definitions of an asset for inclusion on the statement of financial position? Why do you say that?
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