User Account

All Pages

What amount of interest income should Sad Company recognize

Assignment Help Accounting Basics
Reference no: EM132939764

Question - Sad Company accepted P200,000, 90-day, 12% interest bearing note dated November 15, 2015 form a customer. On December 15, 2015, Sad discounted the note at Finance Company at 15% discount rate. Sad Company informed the maker of the note regarding the discounting arrangement. On maturity date, the maker of the note did not pay the note and as a result Finance Company charged Sad Company for the total amount due plus P2,000 protest fee.

What amount of interest income should Sad Company recognize related to the notes receivable in its December 31, 2105 statement of financial position?

A. None

B. P1,000

C. P2,000

D. P3,000

Reference no: EM132939764

Questions Cloud

What is the division return on investment : El Campo is a division of a major corporation. The company's minimum required rate of return 16%. What is the division return on investment
Explain hr analytics and people analytics : 1. How is project management used in analyzing the metrics and measurements needed in an organization?
What is the amount of fred share from the partnership income : To A: P5,000 salary per month, 4% bonus after salary and bonus. What is the amount of Fred's share from the partnership's income of P400,000
How various leadership styles would use them : Create a document or visual presentation which correlates the Bases of Power with how various leadership styles would use them.
What amount of interest income should Sad Company recognize : What amount of interest income should Sad Company recognize related to the notes receivable in its December 31, 2105 statement of financial position
How much more expensive would the gas fueled car : Assume operating costs occur at the end of each month. In present value terms, how much more expensive would the gas fueled car be to operate
Analyzing the metrics and measurements : 1. How is project management used in analyzing the metrics and measurements needed in an organization?
Examples of a grievance procedures : What can be the examples of a grievance procedures?
Identify the culture of an organisation : How would a manager identify the culture of an organisation? Why should the manager be a culturally aware individual?

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