User Account

All Pages

How much is the impairment loss recognized

Assignment Help Financial Accounting
Reference no: EM133002409

Question - On January 1, 2020, ABC Bank granted a 10%, P3,000,000 loan to XYZ Company. The principal is payable on December 31, 2023, and interest payments are at the end of the year. On December 31, 2021, XYZ defaulted on the payment of interest, because of financial difficuity. The loan is assessed to be impaired. The annual interest can no longer be collected. Additionally, the principal is to be collected in three annual payments starting December 31, 2025.

1. How much is the impairment loss recognized in 2021?

2. How much is the interest income recognized in 2022?

3. How much is the interest income recognized in 2023?

Reference no: EM133002409

Questions Cloud

What amount should reported as loss on note receivable : In the income statement for the year ended September 31, 2020, what amount should be reported as loss on note receivable discounting
Find effective interest per year : A company has a 45-day credit period with its supplier, but if they pay in cash, they get a cash discount of 2%. What does it cost, measured in effective intere
What is the stocks expected rate of return : The common stock of AMT paid RM1.32 in dividends last year. If AMT's current market price is RM23.50, what is the stock's expected rate of return
Calculate effective annual interest : Calculate effective annual interest of an investment which pay 12.6 percent stated annual rate of interest compounded annually
How much is the impairment loss recognized : On January 1, 2020, ABC Bank granted a 10%, P3,000,000 loan to XYZ Company. How much is the impairment loss recognized
Calculate the expected return on the market portfolio : In a CAPM world, stock A has an expected return E [Ra] = 0.07 and stock B has an expected return of E [Rb] = 0.13. The beta for stock A is ½, while the beta for
Review the structure of the board : The board of directors consist of 7 members. Review the structure of the board above and discuss potential areas that can lead to Disney's governance failure
What is the yield on a 7-year treasury note : The maturity risk premium is expected to be 0.05 * (t-1)%, where t number of years to maturity. What is the yield on a 7-year Treasury note?
How much net cash is received from the assignment : Sales returns and discounts amounted to P150,000. How much net cash is received from the assignment transaction on March 1, 2021

Reviews

Write a Review

Financial Accounting Questions & Answers

  What was the value of opening inventory

What was the value of opening inventory? The details relate to a perpetual inventory system, Purchases on credit $650,000, Cost of goods sold $970,000.

  Why a multinational corporation might decide to borrow

Determine the key reasons why a multinational corporation might decide to borrow in a country such as Brazil, where interest rates are high

  Summarize the difference in income and total assets

Summarize the difference in income, total assets, and total shareholders' equity related to Product A over its five-year life under the two different sets

  Analyze rhiannon business and advise her on the matters

Analyze Rhiannon's business and advise her on the matters raised in the case. Make sure your recommendations are well supported by quantitative

  How much would be debited to Cost of Goods of Sold

The final inventory count showed that there was $54412 of inventory on hand at the end of the year. How much would be debited to Cost of Goods of Sold

  Use the afn equation to forecast broussard additional funds

The forecasted payout ratio is 45%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year.

  Calculate the magnitude of operating leverage

The following income statement was drawn from the records of Butler Company, a merchandising firm: BUTLER COMPANY Income Statement For the Year Ended December 31, 2014 Sales revenue (5,000 units × $162) $ 810,000. Reconstruct the income statement usi..

  Determine which is an example of earned income

Tony received various types of income last year. Which of the following is an example of earned income for purposes of the earned income credit?

  What is the initial investment outlay

The company spent and expensed $150,000 on research related to the new project last year. What is the initial investment outlay

  Determine what is the current price of bond a

If the required rate of return is 12 percent compounded semi- annually, Determine what is the current price of Bond A? of Bond B?

  Find what maximum unit price that the company willing

Ethel Company, What is the maximum unit price that the company would be willing to pay the supplier without decreasing its operating income?

  What amount should luzon company recognize

Without the warrants the bonds are selling at P2,078,000. What amount should Luzon Company recognize as value of the share warrants?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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