User Account

All Pages

What is the amount of interest receivable as of dec

Assignment Help Accounting Basics
Reference no: EM132809704

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.

Problem 1: What amount of income will be recognized for the year ending, December 31, 2019?

Problem 2: What amount of cash will be collected for interest revenue in 2019?

Problem 3: What is the amount of interest receivable as of Dec. 31, 2019?

Problem 4: What amount of cash will be collected for Interest revenue in 2020?

Problem 5: What amount of interest revenue will be recognized in 2020?

Problem 6: What is the amount of interest receivable in 2020?

Problem 7: 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?

Problem 8: On Oct 1, 2019, Ace borrowed P150,000 from a multi-purpose 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?

Reference no: EM132809704

Questions Cloud

UMCDPR-15-M Personal and Professional Development Assignment : UMCDPR-15-M Personal and Professional Development Assignment Help and Solution, University of the West of England - Assessment Writing Service
What reversing entries are : What Reversing entries are? made to record a change in corporate objectivees. / required by generally accepted accounting principles.
Find what the purpose of the post-closing trial balance is : Find what the purpose of the post-closing trial balance is to? Which of the following accounts will appear on the post-closing trial balance?
What the closing entry for salaries expense is : What the closing entry for Salaries Expense, with a balance of P240,000 is? Closing entries reduce the following type of accounts to a zero balance at the end
What is the amount of interest receivable as of dec : Find What is the amount of interest receivable as of Dec. 31, 2019? What amount of income will be recognized for the year ending, December 31, 2019?
What accounts receivable for may would be : Accounts are collected 40% in the month following the sale and 60% collected the second month. Accounts receivable for May 31 would be
How much is the income tax payable for light company : The present value factor of 12% for 3 years is 0.71178 d. Christmas bonus, 13th month pay and cash gift of 50,000. How much is the income tax payable?
Conducting a job analysis : Explain the steps required when conducting a Job analysis? Explain the core sections of a job description?
Summarize the mindset theory : Summarize the Mindset Theory - Fixed Vs. Growth Mindset (Dweck) and how to apply it in developing training.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What amount shown for net cash provide by operating activity

Orton Company earned net income of 384,000. What amount will be shown for net cash provided by operating activities for 2021?

  Determine Nighthawk current-year deduction for business

Nighthawk has average gross receipts for the prior three-year period of $23,000,000. Determine Nighthawk's current-year deduction for business interest

  How many shares of common stock would be outstanding

How many shares of common stock would be outstanding if Bennett Corporation declares a 3-for-1 stock split

  Prepare the journal entry on the books of the partnership

Prepare the journal entry on the books of the partnership to record the admission of Lars as a new partner if Lars invests $90,000 in the partnership

  The landers corporation needs to raise 160 million of debt

the landers corporation needs to raise 1.60 million of debt on a 20-year issue. if it places the bonds privately the

  Ford escape hybrid from a ford dealer

Which component of GDP will be affected by each of the following transactions involving Ford Motor Company? If you believe that none of the components of GDP will be affected by the transactions, briefly explain why.

  Schedule for the cost of goods manufactured for 2011

Prepare a schedule for the cost of goods manufactured for 2011 and revenues for 2011 were $600 million. Prepare the income statement for2011.

  What was the net cash provided by investing activities

Financial statements of Ansbro Corporation follow: What was the net cash provided by (used in) investing activities for the year.

  Standard error of the mean difference

a) What is the standard error of the mean difference? b) How many degrees of freedom does the t-statistic have? c) What is the 90% confidence interval for the mean dif- ference? d) What do you conclude at a = 0.05?

  Prepare the journal entry to record the purchase

Prepare the journal entry to record the purchase Beaumont company recently purchased some real estate that contain land improvements

  What would have been the equivalent purchase price

You are currently paying $250 per month to lease your office phone equipment. What would have been the equivalent purchase price two years ago

  Determine the true cash balance as of june

The unadjusted balance per the bank statement on June 30 was $58,200.2. Required: Determine the true cash balance as of June 30

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