Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
On Jan. 1, 20x1, Relative Pitch Bank extended a P2,000,000 loan to XYZ, Inc. Principal is due on Dec. 31, 20x5 but 10% interest is due annually every Dec. 31. On Dec. 31, 20x3 , XYZ, Inc. was delinquent and it was ascertained that the loan was impaired. Relative Pitch Bank assessed that interests accruing on the loan will not be collected; however, the principal is expected to be received in two equal annual installments starting on Dec. 31, 20x4. Interest receivable as of Dec. 31, 20x3 includes only the unpaid interest in 20x2. Interest for 20x3 is not accrued because of the loss event. The current market rate on December 31, 20x3 is 14%.
Requirement:
Question a. Provide the journal entry to record the impairment loss using:
1. Direct Method2. Allowance Method
Question b. Prepare the amortization table after the impairment.
Prepare a statement of cash flows for the first year, using the direct method in the operating activities section and Did the company generate more or less cash flow from operations than it earned in net income
Show all required journal entries and adjusting entries on Sheffield's books to recognize the transactions and events described above.
Calculate the Required return for the stock. An analyst gathered the following information for a stock and market parameters: stock beta
What is defined as the sum of the lease payments received by a lessor under a finance lease and any unguaranteed residual value accruing to the lessor?
Parker & Stone, Inc., What is the proper cash flow amount to use the initial investment in fixed assets when evaluation this project? Why?
Determine the proper unit inventory price in the cases
What is the purpose of IFRS and what is the IASB, what are some of the overall differences between US GAAP and IFRS?
What are the unique financial reporting implications of the partnership entity in comparison with the proprietorship and corporate structure?
Harmon Helmets purchased equipment for $62,000 cash, sold equipment costing $36,000 with a book value of $22,000 at a loss, and declared dividends during 2013. Calculate cash flows from operations using the indirect method for 2013.
Iceberg Lounge, Inc., is an accrual basis corporation which reports on the calendar year. Oswald Cobblepot owns 90% of the stock (he cut Butch in) and has a stock basis of $90,000. On January 1 of the current year, Iceberg had accumulated E & P of $2..
Assuming the discount rate is 10%, calculate the net present value (NPV) of the cash flow stream. Should the grill be purchased?
In the accumulation of home office expenses for the business use of a home results in a net loss for the year
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd