June 6, 2022 Czarina borrowed Php10,000 to Cardo Lending Company that will mature on November 8, 2022. What is the actual time of the loan from June 6, 2022 to November 8, 2022?
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- On June 6, 2022 Czarina borrowed Php10,000 to Cardo Lending Company that will mature on November 8, 2022. What is the actual time of the loan from June 6, 2022 to November 8, 2022?
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- On June 6, 2022 Alyana borrowed Php10,000 to Cardo Lending Company that will mature on November 8, 2022. What is the actual time of the loan from June 6, 2022 to November 8, 2022?Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10% payable annually starting December 31,2021. The loan matures in three years on December 31,2023. Data related to the loan are: Principal amount ₱4,000,000 Origination fees charged against the borrower 342,100 Direct origination cost incurred 150,020 Based on the above data, answer the following: (Round off present value factors to four decimal places) 1. The carrying amount of the loan as of January 1,2021 is a. ₱3,807,920 c. ₱4,192,080 b. ₱4,000,000 d. ₱4,492,120 2. The effective interest rate of the loan is a. 9% c.12% b. 10% d.12.19% 3. The interest income to be recognized in 2021 is a. ₱400,000 c. ₱464,185 b. ₱456,950 d. ₱404,291 4. The carrying amount of the loan as of December 31,2021 is a. ₱3,864,870 c. ₱4,000,000 b. ₱3,872,105 d. ₱4,496,411 5. The current portion of the loan as of December 31,2021 is a. Nil c. ₱63,784 b. ₱56,950 d. ₱400,000Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10% payable annually starting December 31,2021. The loan matures in three years on December 31,2023. Data related to the loan are: Principal amount ₱4,000,000 Origination fees charged against the borrower 342,100 Direct origination cost incurred 150,020 Based on the above data, answer the following: (Round off present value factors to four decimal places) 1. The carrying amount of the loan as of December 31,2021 is a. ₱3,864,870 c. ₱4,000,000 b. ₱3,872,105 d. ₱4,496,411 2. The current portion of the loan as of December 31,2021 is a. Nil c. ₱63,784 b. ₱56,950 d. ₱400,000
- What is the interest income for 2021? Philippine Bank granted a loan to a borrower on January 1, 2021. The interest on the loan is 8% payable annually starting December 31, 2023. Principal amount Origination fee charged against the borrower Direct origination cost incurred 3,000,000 100,000 260,300 After considering the origination fee charged to the borrower and the direct origination cost incurred, the effective rate on the loan is 6%. a. 240,000 O b. 189,618 c. 252,824 O d. 180,000M&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable annually starting March 31 2021. The loan matures in three years on March 31, 2023. Data related to the loan are:Principal amount - ₱ 4,000,000; Origination fees charged against the borrower - ₱ 342,100; Direct origination cost incurred - ₱ 150,000. After considering the origination fees charged against the borrower and the direct origination cost incurred, the effective rate on the loan is 12%. What is the Carrying value of the loan as of April 1, 2020?The owner of Jewel Company had a loan from Metrobank amounting to ₱500,000. The bank requires the borrower to pay interest of 12% per annum and a yearly installment of ₱100,000 on the principal starting October 31, 2021. The loan was taken November 1, 2020. What would be the proper accounting of the given transaction at the end of 2020? A.Long term Loans payable, ₱500,000; Interest payable, ₱10,000 B.Long-term Loans payable, ₱400,000, Short-term Loans payable, ₱100,000; Interest Payable, ₱10,000 C Short-term Loans payable, ₱500,000; Interest Payable, ₱10,000 D Long-term Loans payable, ₱400,000; Short-term Loans payable, ₱100,000
- Jumbo Bato borrowed money from Rovin Patila,payable for 3 years. If the interest rate per year is 9%, determine the following:a. Total interest due for each yearb. Total interest due after 3 yearsc. Total amount due after 3 yearsd. Total amount due after 100 days considering the loan was obtained on February14, 2020e. Total amount due after 5 months considering the loan was obtained in October 2021. Use Php 10,000 as the amount of borrowed moneyHow much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000Shawn borrowed RM5 000 from a bank on 30th March 2020.The amount to be paid by Shawn was RM5 021.67 and the simple interest rate was 6% per annum,find the date of repayment using the Banker's Rule. 23rd April 2020 25th April 2020 26th April 2020 24th April 2020
- How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000 O 90,000 O 96,836 O 120,000 O 129,115 O Answer not givenOn January 1, 2021, a borrower was granted a loan by Qatar Bank. The loan interest is payable annually starting December 31, 2021 at an interest rate of 10%. The loan matures in five years on December 31, 2025. The principal amount of the loan is P4,000,000. The borrower was charged with origination fees in the amount of 350,000. The bank incurred P61,500 origination cost. What is the carrying amount of the loan receivable on December 31, 2021? a. 4,243,120 b. 4,000,000 c. 3,756,880 d.3,600,0007.Anna borrowed money from a bank charging 10% interest last January 12, 2020 and is due on June 12, 2020. If she paid Php5,500 at the end of the loan, what is the amount she borrowed considering exact simple interest? (Clue: Count all the days per month