What amount of cash will be collected for interest revenue

Assignment Help Financial Accounting

Reference no: EM132808475

Jose Carpio decided to invest P1,000,000 excess cash in a bank at 3% annual interest rate on March 1, 2019. Interest is paid on a monthly basis every 1st of the month.

Question 1: What amount of cash will be collected for interest revenue in 2019?

Question 2: What is the amount of interest receivable as of Dec. 31, 2019?

Question 3: What amount of cash will be collected for Interest revenue in 2020?

Question 4: What amount of interest revenue will be recognized in 2020?

Question 5: What is the amount of interest receivable in 2020?

Question 6: Ace received a 6% 90-day P120,000 note from a customer on Dec. 1, 2019 in settlement of accounts receivable. What is the adjusting entry?

Reference no: EM132808475

Questions Cloud

How much is prepaid interest at year end : Interest paid on a bank loan was debited to Interest Expense covering a period of 5 months starting Sept 1, 60,000. How much is prepaid interest at year end

How much cash was paid for supplies during february : During February supplies expense was 5,000. How much cash was paid for supplies during February? How much cash was paid for salaries during November?

What would be the balance of grace capital account : If the balance of the building is 350,000 and 20,000 of the accounts payable was paid in cash, what would be the balance o Grace Capital account?

What is the adjusting entry for ace : Cooperative on a 6-month, 12% per annum note payable. The principal and interest are payable at the end of 6-months. What is the adjusting entry?

What amount of cash will be collected for interest revenue : What amount of cash will be collected for interest revenue in 2019? What is the amount of interest receivable as of Dec. 31, 2019?

What is critical race theory and white fragility : What are the necessary virtues for each part needed to do its distinctive function? What happens when all parts are working optimally

Essay - symbolic interactionism : Choose a topic concerning some aspect of Social life - ANALYZE this topic using the Symbolic Interactionist perspective,Naturally.

Describe the geographic region and work setting : Describe the geographic region and work setting in which the work took place. Work settings might include hospitals, reservations, universities, state

Develop a Business Overview of a Tourism business : What is the name of the business - What type of ownership model is the business - Describe the physical, human, and regional geography this business operates

User Account

All Pages