User Account

All Pages

How much is the interest income for the year

Assignment Help Financial Accounting
Reference no: EM132935229

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%.

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

Reference no: EM132935229

Questions Cloud

At what amount should the investment property recognized : Assuming Black Corp. uses two floors or 20% of the entire building for administrative purposes, at what amount should the investment property be recognized
What was the effect on banks of the fed decision to increase : What was the effect on banks of the Fed's decision to increase the required reserve ratio? Increasing the required reserve ratio.
How is this distribution treated for tax purposes by Arnold : Arnold, who had purchased his stock for $11,000 several years ago. How is this distribution treated for tax purposes by Arnold
What guidelines would establish for approval of proposed : If you were the CFO of the selected company, what guidelines would you establish for approval of proposed capital budgeting projects
How much is the interest income for the year : The first payment is due on December 31,2019 and the prevailing interest rate for note of this type is 12%. How much is the interest income for the year
Prepare the journal entries for the transactions : Service supplies purchased on account during the year totaled $157,500. Prepare the journal entries for the transactions
Identify the categories of disease : Explain the causes and risk factors of disease to include a comparison of the modes of transmission of infectious diseases and their associated pathogens.
Forelimbs of animals : 1) What did Darwin propose in relation to the evolution of animals?
How many units must the company produce : If sales are expected to be 150000 units for the year and Bramble desires ending finished goods of 31000 units, how many units must the company produce

Reviews

Write a Review

Financial Accounting Questions & Answers

  Explaining the company financial stress

Accounting Financial ACC701 Assignment. Use the companies above and find (via electronic journals) the events that led up to the liquidation. Discuss the ethics and governance in explaining the company's financial stress

  How much higher would company first-year net income

How much higher (or lower) would company’s first-year net income have been if absorption costing had been used rather than variable costing? Show computations.

  The declining balance method of depreciation are utilized

Peter is an industrial engineer working for an international consulting company in Europe where the straight line method and the declining balance method of depreciation are utilized. He is about to conduct anafter tax analysis that involved a $50000..

  Calculate the pretax net income

A firm expects to sell 25,300 units of its product at $11.30 per unit and to incur variable costs per unit of $6.30.

  Service contract offers free or low-cost repairs to product

A service contract offers free or low-cost repairs to the product

  Find what is the monthly payment for the loan

Suppose you borrowed $10,000 from a bank to be repaid in 3 years and the interest applied is 6%compounded monthly. What is the monthly payment for this loan?

  What amount should the purchase price of the machine be

Annual payments of $140,000 beginning December 31, 2021. If the interest rate is 8%, what amount should the purchase price of the machine be?

  How to describe the two year old child in simple terms

How to describe the two year old child in simple terms. The second box contains the bolded text, Financial Institutions, followed by unbolded

  Calculate the book value at the end of year

Calculate the book value at the end of year. A machine that cost$136,000 has an estimated residual value of $8,000 and an estimated useful life of 8 years.

  Interest on bond investments

On May 1, 2016, Carly Company purchased $108,000 of 8%, 12-year Baltimore Company bonds at their face value plus two months' accrued interest. The bonds pay interest on March 1 and September 1. Determine the interest earned by Carly Company on Baltim..

  What is the balance in retained earnings on december

The company received cash of $15,000 as an additional investment by its owners. What is the balance in retained earnings on December 31, 2016?

  Calculate derrick total federal tuition amount

Calculate Derrick's total federal tuition amount. How much will he use on his return? What form or schedule does he have to complete?

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