Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 12 000.00 Notes Payable 16 600.00 Interest Income Communications Expense 21 500.00 Interest Expense Postage and Stamps Expense 1 200.00 8 000.00 360.00 Cash 18 540.00 1 250.00 Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts Receivable 21 460.00 Insurance Expense 4 100.00 2000 000
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- Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 1 200.00 12 000.00 Notes Payable 8 000.00 16 600.00 Interest Income 360.00 Communications Expense 21 500.00 Interest Expense Postage and Stamps Еxpense Cash 18 540.00 1 250.00 Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts 21 460.00 Insurance Expense 4 100.00 Receivable Mortgage Payable Loan Payable |(Short Term) 30 000.00 Service Vehicle 84 700.00 20 000.00 Utilities Expense 160.00 Service Income 78 560.00 Supplies Expense 3 150.00 Furniture and Fixtures Salaries Expense 8 900.00 Shop Equipment 36 290.00 21 000.00 Rental Income 6 000.00 Income statementCODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 01 TL Case 23000 100 02 Dollars Case 23000B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 X Bank DTH Hes 23000 100 01 TL Case 23000C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 02 Dollars Case 23000 100 01 TL Case 23000D) THE CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 03 Case of Euro 5000 100 01 TL Case 5000E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 100 02 Dollars Case 5000 100 01 TL Case 50001. What amount was received from the note receivable discounting? a. 4,017,000b. 4,120,000c. 4,103,000d. 3,965,500 2. What amount should be reported as loss on note receivable discounting? a. 40,000b. 23,000c. 17,000d. 20,000
- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.C. P177.60 d. P29.60 P74.40 P300 P620 30% e. 4. Find the (a) cash discount and (b) net amount due if the following invoices are paid within the discoun period. Net invoice price P3,265 Net amount due Terms of payment 3 п Cash discount 10'30 P 1,342 15'60 2 n P985 5'15 5. Find the (a) deadline for discount period, (b) deadline for credit period, (c) cash discount and (d) amount due for the following cases. Deadline of discount Net Deadline of credit Invoice Terms of Cash Invoice date amount due amount payment discount period period 1 n P 1,675 Jan. 15 15'45 P645 Feb. 25 10'30 1n P 895 March 12 10'45 3 2 P785 April 22 . 15'20'90 6. The net invoice price of a wall clock is P287.00. If the discount granted was 18%, find: a. Net invoice price rate b. List price C. Discount 7. The net invoice price of a dining table is P6,187.50, representing 75% of the list price. Find: a. List price b. DiscountUse the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).
- You are given the following information: Debt tenor Account Balance b/f Repayment Balance c/f Principal repayment CFADS Max DS Less: interest Max principal repayment O $250k O $290k O $330k O $396k [1,0] Ⓒ $467k USD '000 USD '000 USD '000 USD '000 USD '000 USD '000 USD '000 DSCR. 1.50x i (% p.a.) 10.00% (250) 250 467 (70) 396 Yr 1 250.00 (41.67) 208.33 100.00 66.67 (25.00) 41.67 Yr 2 208.33 (59.17) 149.17 120.00 80.00 (20.83) 59.17 Yr 3 Yr 4 149.17 84.08 (65.08) (71.59) 84.08 12.49 120.00 80.00 (14.92) 65.08 120.00 80.00 (8.41) 71.59 Yr 5 12.49 (12.49) Out of the range of options given below, what is the most likely debt size for this example project? Note: Debt tenor = 6 years, DSCR = 1.50x, interest rate = 10%, CFADS as represented in the image. 120.00 80.00 (1.25) 78.75 Yr 6 120.00 80.00 80.00What is the outstanding balance in the 5th period? Period Regular Payment Interest Repayment of the Loan Outstanding Balance 0 100000 1 6000 3000 3000 97000 2 6000 2910 3090 93910 3 6000 2817.3 3182.7 90727.3 4 6000 2721.819 3278.181 87449.119 5 6000 2623.474 P87,072.59 B P3,376.53 C P3,582.16 D P80,594.77OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…
- Present value of 1 at 12% for 10 periods Problem 6-12 (AICPA Adapted) On December 31, 2020, Precious Cómpany sold an equipment with carrying amount of P2,000,000 and received a noninterest-bearing note requiring payment of P500,000 annually for ten years. The first payment is due December 31, 2021. The prevailing rate of interest for this type of note at date of issuance is 12%. Present value of 1 at 12% for 10 periods Present value of ordinary annuity of 1 at 12% for 10 periods 0.322 5.650the date the note was paid? A. Notes Payable Interest Expense Cash B. Notes Payable Interest Payable Cash C. Notes Payable Interest Payable Interest Expense Cash D. Notes Payable Interest Expense Interest Payable Cash 300, 000 9,000 309,000 300, 000 9,000 309, 000 300,000 6,000 3,000 309,000 300,000 6,000 3,000 309,000 OA. Notes Payable Interest Expense Cash On October 1, 2025, Conway, Inc. borrowed $300,000 by signing a nine-month, 4% note payable. Interest was accrued on December 31, 2025. What is the journal entry on July 1, 2026, the date the note was paid? OB. Notes Payable Interest Payable Cash OC. Notes Payable Interest Payable Interest Expense Cash OD. Notes Payable Interest Expense Interest Payable Cash 300,000 9.000 300,000 9,000 300,000 6,000 3,000 300,000 6,000 3,000 309,000 309,000 309,000 S 309,000 GWhat is the outstanding balance in the 5th period? Period Regular Payment Interest Repayment of the Loan Outstanding Balance 0 100000 1 6000 3000 3000 97000 2 6000 2910 3090 93910 3 6000 2817.3 3182.7 90727.3 6000 2721.819 3278.181 87449.119 6000 2623.474 st 4 5 A) P3,376.53 B) P80,594.77 C) P87,072.59 D) P3,582.16