If a company has a long-term loan that has only two yearsremaining until it matures, how is it reported on the balancesheet ( a ) this year and ( b ) next year?
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If a company has a long-term loan that has only two years
remaining until it matures, how is it reported on the balance
sheet ( a ) this year and ( b ) next year?
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- (a) What is the rebate fraction of a 36 month loan paid off after the 15th payment? (b) What is the rebate fraction of a 42 month loan paid off after the 18th payment?Accounts payable, in general, is classified as current when and only: When it is expected to be settled within the operating cycle or one year, whichever is longer When it is expected to be settled within the operating cycle. When it is expected to be settled within the operating cycle or one year, whichever is shorter. When it is expected to be settled within one year.Determine A) Determine the monthly interest rate i charged by Coco-me-Loan B) How much is the principal repaid during the 4th month? C) What is the principal loan balance after 7th monthly amortization payment?
- For the loan amount, interest rate, annual payment, and loan term shown in the following table, calculate the annual interest paid each year over the term of the loan, assuming that the payments are made at the end of each year. amount interest rate annual payment term $44,000 9% $13,581.42 4 years The portion of the payment that is applied to interest in year 1-4 ishelp meGiven the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 Fill out the amortization schedule below. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 $______ $_______ $_______ $_____ (Round to nearest cent as needed)
- Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)A design studio received a loan of $4,250 at 3.90% compounded semi-annually to purchase a camera. If they settled the loan in 3 years by making quarterly payments, construct the amortization schedule for the loan and answer the following questions: a. What was the payment size? Question 4 of 6 Round to the nearest cent b. What was the size of the interest portion on the first payment?Which of the items are normally classified as current liabilities for a company that has a oneyearoperating cycle? Note payable maturing in 2 years.
- The following is an extraction from an amortisation schedule for a filling station. The loan will be paid off in 15 years. Month Outstanding Interest Payment Principal Outstanding principal at due at repaid principal at the the end month end beginning of the of the month month 15 R385 232,41 R3 081,86 A R1 119,21 C 120 R202 152,34 R1 617,22 A B R199 568,48 The value of B equals ... A. R3 579,87. B. R1 684,60. C. R2 583,85. D. R5 818,29.on 1.9.20x1 the company received an interest-bearing loan of 12000 euros for a period of 8 months. the interest rate was agreed at 8% per annum and all interest will be paid at the end of the loan, along with the principal.to make the accounting entry as the adjustment entry at the end of the year.The loans which are to be repaid within a short period (a year or less) are referred to as: O a. Fixed liabilities O b. Long-term liabilities O c. Contingent liabilities O d. Current Liabilities