User Account

All Pages

Prepare an amortization table and record the first payments

Assignment Help Accounting Basics
Reference no: EM133117979

Question - Industrias CAMELLO, S.A took on July 1, 2019, a loan of $1,400,000.00 to Bank X, at 16% annual interest, for a term of 18 months, with monthly amortization of principal and interest. The bank charges a 1% administration and processing fee on the amount disbursed. It also charges a penalty for late payment of 3% on late values.

Required - Make the corresponding seats. Prepare an amortization table and record the first and second payments. Assume that there was a delay in installments 2 and 3. Calculate the delay, the accumulated interest and the capital to be paid, taking into consideration that installment number 4 is one day due, make the corresponding entries.

Reference no: EM133117979

Questions Cloud

What will be the decline in the net interest income : What will be the decline in the net interest income at year-end if interest rates rise by 1 percent
What is the change in capital for the fund that day : During the past year, there was one day in which IBM's shares fell 3%. On that same day, Intel's shares rose by 5%. What is the change in capital ($) for fund
Demographic data have on public health initiatives : What impact does the use of demographic data have on public health initiatives?
Project management reflection-annual adoption event : You have been working with a hypothetical project for the Lucky Me Animal Rescue's annual adoption event.
Prepare an amortization table and record the first payments : Industrias CAMELLO, S.A took on July 1, 2019, a loan of $1,400,000.00 to Bank X, Prepare an amortization table and record the first payments
Write out a simple balance sheet for a bank : Write out a simple balance sheet for a bank. State the three ways in which a bank's assets can generate revenue, and rank those assets
Local business community : Choose a firm with which you are familiar in your local business community.
International trade : What is the objective of the WTO? To what degree has it achieved that objective? What has been the growth rate of global trade since the WTO was created?
Are regional trade blocs good for global trade : Are regional trade blocs good for global trade or not? Do bilateral trade agreements such as USMCA, EU, and Mercosur undercut the WTO?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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