Reference no: EM132551618
Irwin Company obtained a five-year, €100,000 bank loan at the end of year x0. The principal had to be repaid in equal installments every December 31st starting in x1. The yearly interest rate is 4% and is also paid every December 31st. Please answer the following two questions:
Problem 1: What is the impact of this transaction on the profit and loss account of the year x1?
Option 1: There is no impact on the profit and loss account in x1.
Option 2: The profit and loss account decreases by €20,000.
Option 3: The profit and loss account decreases by €24,000.
Option 4: The profit and loss account decreases by €4,000.
Problem 2: Which of the following statements regarding year x1 is correct?
Option 1: The company recorded €20,000 as interest expense.
Option 2: The change in cash due to this loan was -€24,000.
Option 3: The ending balance of the bank loan liability at the end of year x1 was €76,000.
What is the break-even point in units for each product
: Chelonia Ltd manufactures small robot toys. It plans to introduce two products, Speedie and Spunkie. It is anticipated
|
7921IBA International Business - Case Analysis Assignment
: 7921IBA International Business - Case Analysis Assignment Help and Solution - Griffith University, Australia - Assessment Writing Service
|
How does it relate to digital forensics
: What does it cover? How does it relate to digital forensics? Please, comment on two other classmates posts in order to receive full credit.
|
What type of management is used in organization
: Based on your answer in a) give reasona why the organization is set to failure!/success
|
What is the impact of transaction on the loss account
: What is the impact of transaction on the profit and loss account of the year x1? Irwin Company obtained a five-year, €100,000 bank loan at the end.
|
Incorporate in managing small project
: What tools, techniques and methods that you would traditionally use in larger project would you still incorporate in managing a small project?
|
Identify three key questions you will ask
: Using the research article selected for DQ 1, identify three key questions you will ask and answer when reading the research study and why these questions.
|
How many males are in the data set
: How many males are in the data set? How many females? Calculate the mean, median, minimum, maximum, and standard deviation for self-reported health.
|
What is the change in cash during the year
: What is the Return on Sales (Net profit / Sales) of the company? What is the gross profit of the company? What is the change in cash during the year?
|