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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.
Problem 1: How much is the impairment loss recognized in 2021?
Problem 2: How much is the interest income recognized in 2022?
Problem 3: How much is the interest income recognized in 2023?
The difference was attributable to the fair value of Lake''s buildings and its land exceeding book value, each accounting for one-half of the difference.
ICANDO Pte Ltd is a medium size IT Company that was started in January 2011 by Dennis Tan. When the company was set up in 2011, Dennis did his own accounting but he later employed April, a fresh graduate, to help him in December 2011.
What is meant by the term "assets"? My mechanical knowledge and skill is an asset to the business but it does not seem to have been included.
For the semi-strong form EMH tests, identify the applications that could be concluded from applying the event studies.What are major benefits of developing
Wilson Company has 100,000 units of widgets in its inventory on October 1, 2008. Wilson purchased them for $1 per unit one month ago. It hedges the value of the widgets by entering into a forward contract to sell 100,000 widgets on January 31, 2009, ..
Identify which shareholders' equity accounts will be affected by each transaction and indicate whether each account will increase, decrease, or remain unchanged
Eastman Publishing Company is considering publishing an electronic textbook on spreadsheet applications for business. The fixed cost of preparation, textbook design, and Web site construction is estimated to be $160,000. Build a spreadsheet model to ..
Regarding harassment, which of the following statements is NOT true? A. harassment is a serious problem in the workplace B. the definition of harassment under Title VII includes mistreatment and abuse of employees generally
You were land and buildings, Advise Enyan on how the transaction should be correctly dealt with in its financial statements with reference to relevant IFRS.
Terry, Nick, and Frank are forming The Doctor Partnership. Terry is transferring $29,531 of personal cash and equipment worth $24,857 to the partnership. Prepare a classified balance sheet for the partnership after the partners’ investments on Decemb..
Given the following series of alternate b cash transactions. Draw the cash flow diagram
Ryan invested US$13,230 for 6 months in a bank that pays a dollar savings interest rate of 7.8% per annum. What is Ryan's net interest yield?
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