Reference no: EM132736217
Questions -
Q1. On January 1, 2016, Corona Bank granted a P2,000,000, 8% loan to Basra Company. Interest is receivable at the end of each year with the principal due at the end of five years. At the end of 2016, the first year's interest was not received due to financial difficulties (no interest income was recognized) and thus negotiated a restructuring of the loan. The payment of all interest based on the original principal for five years will be collected, together with the principal at maturity and the principal amount of the loan was reduced by P500,000. The PV of 1 at 8% for 4 periods is 0.735.
1. What is the impairment loss on December 31, 2016?
2. What is the 2017 interest income?
3. What is the 2018 interest income?
Q2. Danica Company sold one of its buildings on January 1, 2017 for P20,000,000. Danica received a cash down payment of P5,000,000 and a 5-year, 10% note for the balance of P15,000,000. The note is payable in equal annual payments of principal and interest of P3,957,000 payable on December 31 of each year until the year 2021.
1. What is the 2017 interest income?
2. What is the notes receivable balance on December 31, 2017?
3. What amount is to be reported as current notes receivable on December 31, 2017?
|
How much is the total sales of the joint venture
: Cost of unsold canned goods which Me and Ma agreed to assume were P4,500 and P7,000 respectively. How much is the total sales of the joint venture
|
|
Compute labor productivity under each system
: Compute labor productivity under each system. Use carts per worker per hour as the measure of labor productivity.
|
|
Describe the layout for selected organization
: You will assess a real organization's layout in order to identify its limitations. Then, you will suggest some ways to redesign the layout to make some improvem
|
|
Identify the amount of non-current assets and current assets
: Identify the amount of Non-Current Assets and Current Assets as at 31 December 2018. Datuk Rizalman started a business and deposited $100, 000
|
|
What amount is to be reported as current notes receivable
: Danica Company sold one of its buildings on January 1, 2017 for P20,000,000. What amount is to be reported as current notes receivable on December 31, 2017
|
|
What amount is left after the accounting
: According to the governess, how much should she be paid per month? What amount is left after the accounting?
|
|
Identify the internal control strengths in pei system
: PriceRight Electronics (PEI) is a small wholesale discount supplier of electronic instruments and parts. PEI's competitive advantage is its deep-discount.
|
|
Understanding and minimize conflict among troops
: What strategies would you recommend to improve mutual understanding and minimize conflict among these troops?
|
|
Find the total dividends and the per-share dividends
: Dividends on Preferred and Common Stock, Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years
|