How much in the carrying value of the note

Assignment Help Accounting Basics
Reference no: EM132935478

Question - ABC Company has a note that bears 8% interest and is to be repaid in 3 equal annual installments of 250,000 every December 31 plus interest on outstanding balance. The first payment is due on December 31,2019 and the prevailing interest rate for note of this type is 12%.

1. How much in the carrying value of the note shall be classified as non-current asset as of December 31, 2019 on the Statement of Financial Position?

-P 241,071

-P 233,099

-P 474,170.92

-P 225,98

2. How much in the carrying value of the note shall be classified as non-current asset as of December 31, 2019 on the Statement of Financial Position?

-P 233,099

-P 474,170.92

-P 225,982

-P 241,07

3. How much is the interest income for the year 2020 that shall be presented on the Statement of Comprehensive Income?

-P 56,900.51

-P 40,000

-P 28,928.57

-P 60,000

Reference no: EM132935478

Questions Cloud

Measure the effect of greenhouse gases : What are various methods that scientist use to measure the effect of greenhouse gases on the earth today?
Compute the average shares : The 5 Million Convertible shares with 100 par value can be converted into 5 common shares per preference share. Compute the average shares
What is the carrying value of the investment property : If the stream of cash flows is more of the rental cash flows rather than room revenue cash flows, what is the carrying value of the investment property
Piaget theory of cognitive development : Please discuss a 4-year-old child in terms of Piaget's Theory of Cognitive Development. Make sure to use appropriate terminology
How much in the carrying value of the note : How much in the carrying value of the note shall be classified as non-current asset as of December 31, 2019 on the Statement of Financial Position
Information about respiratory system efficacy : How long does it take the body to respond to pH changes? How does the respiratory system effect changes in acid-base balance?
Compare bacteria slides to blood cells in terms of color : Compare bacteria slides to blood cells in terms of color, shape and size
What freud theory of psychosexual development is : Briefly describe what Freud's theory of psychosexual development is. Briefly describe what Piaget's theory of cognitive development is.
How much is the carrying amount of the notes : The first annual payment for interest was made on September 1, 2020. How much is the carrying amount of the notes as of September 1, 2020

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the total estimated manufacturing overhead cost

Company allocates manufacturing overhead using a predetermined overhead rate. What is the total estimated manufacturing overhead cost

  What is the carrying value of investment in king inc shares

What is the carrying value of Investment in King Inc. shares in 2018? Prince Inc. acquired 100,000 ordinary shares of Queen Corp. for P5 per share

  Explain the weighted average cost methods

Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month.

  During 2011 southern winn ltd paud dividends of 1 per

following applies to southern winn ltdcommon stock 320000 shares outstandingconvertible preferred stock 11000 shares

  The board of directors of ogle construction company

The board of directors of Ogle Construction Company is meeting to choose between the completed-contract method and the percentage-of-completion method of accounting for long-term contracts in the company's financial statements. You have been en..

  What stockholders equity at the end of june was

During June, the business recorded $334000 in revenues, $151000 in expenses, and dividends of $58000. Stockholders' equity at the end of June was

  Head of international marketing

You're the CFO of the Kraknee Roller Skate Company, which sells roller skates worldwide and also builds and operates roller rinks. Some time ago Archie Speedo, the head of international marketing, proposed selling skates in Russia.

  How many units must be sold to break-even for the month

How many units must be sold to break-even for the month, How many units do we need to sell to earn a profit of $240,000 for the month

  What information regarding the asian rim region should the

the president of eastvaco is considering recommending to the board of directors expanding into the asian market. he

  There are three possible approaches for determining a

there are three possible approaches for determining a transfer price negotiated cost-based and market-based transfer

  Electric utilities generally have very high common equity

electric utilities generally have very high common equity ratios because their revenues are more volatile than those of

  Stock price and tax advantage

The Carlton Corporation has $4 million in earnings after taxes and 1 million shares outstanding. The stock trades at a P/E ratio of 20. THE firm has $3 million in excess cash.

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