Amortization schedule
Year | Prin Bal on Jan 1 | cash pay Dec 31 | Applied to interest | Applied to principal | Prin Bal End of period |
Year 1 | 250000 | 59349 | 15000 | 44349 | 205651 |
Year 2 | 205651 | 59349 | 12339 | 47010 | 158641 |
year 3 | 158641 | 59349 | 9518 | 49831 | 108810 |
Year 4 | 108810 | 59349 | 6529 | 52820 | 55990 |
Year 5 | 55990 | 59349 | 3359 | 55990 | 0 |
On January 1, Year 1, Beatie Co. borrowed $250,000 cash from Central Bank by issuing a...
On January 1, Year 1, Beatie Co. borrowed $270,000 cash from Central Bank by issuing a five-year, 5 percent note. The principal and interest are to be paid by making annual payments in the amount of $62,363. Payments are to be made December 31 of each year, beginning December 31, Year 1. Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) BEATIE CO. Amortization Schedule $270,000,...
On January 1, Year 1, Beatie Co. borrowed $410,000 cash from Central Bank by issuing a five-year, 4 percent note. The principal and interest are to be paid by making annual payments in the amount of $92,097. Payments are to be made December 31 of each year, beginning December 31, Year 1. Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) BEATIE CO Amortization Schedule $410,000,...
On January 1, Year 1, Beatie Co. borrowed $270,000 cash from Central Bank by issuing a five-year, 5 percent note. The principal and interest are to be paid by making annual payments in the amount of $62,363. Payments are to be made December 31 of each year, beginning December 31, Year 1 Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) BEATIE CO. Amortization Schedule $270,000,...
On January 1, Year 1, Beatie Co. borrowed $270,000 cash from Central Bank by issuing a five-year, 5 percent note. The principal and interest are to be paid by making annual payments in the amount of $62.363. Payments are to be made December 31 of each year, beginning December 31, Year 1. Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) Year Prin. Bal. End of...
Exercise 10-2A Amortization schedule for an installment note LO
10-1
On January 1, Year 1, Beatie Co. borrowed $330,000 cash from
Central Bank by issuing a five-year, 6 percent note. The principal
and interest are to be paid by making annual payments in the amount
of $78,341. Payments are to be made December 31 of each year,
beginning December 31, Year 1.
Required
Prepare an amortization schedule for the interest and principal
payments for the five-year period. (Round your answers...
On January 1, 2018, brown co. borrowed cash from First Bank by
issuing 49,500 for face value,
four-year term note that had an 8 percent annual interest rate.
The note is to be repaid by making annual cash payments of $14,285
that include both interest and principal on December 31 of each
year. Brown used the proceeds from the loan to purchase land that
generated rental revenues of $22,275 cash per year.
A. Prepare an amortization schedule for the four-year...
On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $52,000 face value, four-year term note that had an 6 percent annual interest rate. The note is to be repaid by making annual cash payments of $15,007 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $24,960 cash per year. Required a. Prepare an amortization schedule for the...
On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $102,000 face-value, four-year term note that had an 7 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,113 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $54,000 cash per year. a. Prepare an amortization schedule for the four-year...
The following information applies to the questions displayed below.) On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $80,000 face value, four-year term note that had an 6 percent annual interest rate. The note is to be repaid by making annual cash payments of $23,087 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $42,400 cash per...
On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $42,000 face value, four-year term note that had an 6 percent annual interest rate. The note is to be repaid by making annual cash payments of $12,121 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $22,260 cash per year. Organize the information in accounts under an accounting...