User Account

All Pages

What amount of interest income shall be recognized

Assignment Help Financial Accounting
Reference no: EM132994266

Question - On January 1, 2019, G Inc. granted a loan of 5,000,000 to B Company. The principal amount is due after 5 years but interest of 12% will be due annually starting December 31, 2019. Direct origination costs paid by G amounted to 46,200 while the origination costs paid by B amounted to 550,000. The prevailing rate was 15%.

a. What is the initial carrying amount of the loan?

b. How much is the unearned interest income in 2019?

c. What amount of interest income shall be recognized on December 31, 2021?

d. What is the carrying value of the loan on December 31, 2022?

Reference no: EM132994266

Questions Cloud

Explain the benefits of a facility using supplemental : Explain the benefits and disadvantages of a facility using supplemental and floating staff. Would this vary depending on specific units? Why?
Differentiate between cost allocation and cost revaluation : Question - Differentiate between the concepts "cost allocation" and "cost revaluation". Discuss and give examples
Explain the healthcare program or policy outcomes : How much of an impact was realized with the program or policy selected? How was the success of the program or policy measured?
What is fair value in accounting : Question - What is fair value in accounting? Explain the fair value hierarchy according to IFRS 13
What amount of interest income shall be recognized : On January 1, 2019, G Inc. granted a loan of 5,000,000 to B Company. What amount of interest income shall be recognized on December 31, 2021
Does the visualization highlight savings in time : Does the visualization highlight savings in time or money or both or potential anticipate future expense which can then be budgeted for
Discuss physical changes that take place in middle adulthood : Discuss the physical changes that take place in middle adulthood, and explain how these detriments may be offset. Explain in detail and give an example.
How does an adverse effect of a drug occur : What relationship is there between drug response relationships, serum-concentration profile, and drug manufacturing? How does an adverse effect of a drug occur?
What determines the absorption ability of a drug : Examine the processes of absorption, distribution, metabolism, and excretion, and explain why they occur in this order. What determines the absorption ability

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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