Please show me how you did the current portion and the non-current portion calculations.
Homework Answers
| Current portion of loan is that which is payable within 1 year |
| Non-Current portion of loan is that which is payable after 1 year |
| At the end of period 3, $16000 of Principal balance is due, out of which $8000 is due within 1 year and $8000 is due after 1 year |
| Current portion | 8000 |
| Non-Current portion | 8000 |
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Please show me how you did the current portion and the non-current portion calculations. Brief Exercise...
Brief Exercise 10-7 Assad Inc. issued a five-year, 6% instalment note payable, with fixed principal payments...
Brief Exercise 10-7 Assad Inc. issued a five-year, 6% instalment note payable, with fixed principal payments plus interest, due annually. The following instalment payment schedule is partially completed: Fill in the missing amounts. Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance $70,000 Issue date $18,200 56,000 17,360 3,360 2,520 15,680 1,680 14,000 14,840 840 LINK TO TEXT What are the current and non-current portions of the note at the end of period 3? Current portion $ Non-current...
Brief Exercise 10-8 Hyatt Inc. issued a five-year, 7% instalment loan payable, with blended principal and...
Brief Exercise 10-8 Hyatt Inc. issued a five-year, 7% instalment loan payable, with blended principal and interest payments due annually. The following instalment payment schedule is partially completed: Fill in the missing amounts. (Round answers to o decimal places, e.g. 5,275.) Cash Payment Interest Expense Interest Period Issue date Reduction of Principal Principal Balance $51,000 $12,439 $ 8,869 42,131 2,949 32,641 10,154 1,574 11,622 817* 11,622 *Adjusted for rounding differences. LINK TO TEXT What are the current and non-current portions...
Thank you very much for answering! Problems Problem 10-IA Current versus non-current portions of debt LO1...
Thank you very much for answering!
Problems Problem 10-IA Current versus non-current portions of debt LO1 On January 2, 2017, Brook Company acquired machinery by issuing a 3% $300,000 note due in five on December 31, 2020. Annual payments are $78,608 each December 31. The payment schedule is: Principal Balance at Year-End Principal Portion of Payment $67,808 69,842 71,937 74,096 76,317 Interest Portion of Payment $10,800 8,766 6,671 4,512 2,291 Annual Payment Year 2017 2018 2019 2020 2021 $78,608 78,608...
Brief Exercise 10-7 Assad Inc. issued a five-year, 6% instalment note payable, with fixed principal payments plus interest, due annually. The following instalment payment schedule is partially completed: Fill in the missing amounts. Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance $70,000 Issue date $18,200 56,000 17,360 3,360 2,520 15,680 1,680 14,000 14,840 840 LINK TO TEXT What are the current and non-current portions of the note at the end of period 3? Current portion $ Non-current...
Brief Exercise 10-8 Hyatt Inc. issued a five-year, 7% instalment loan payable, with blended principal and interest payments due annually. The following instalment payment schedule is partially completed: Fill in the missing amounts. (Round answers to o decimal places, e.g. 5,275.) Cash Payment Interest Expense Interest Period Issue date Reduction of Principal Principal Balance $51,000 $12,439 $ 8,869 42,131 2,949 32,641 10,154 1,574 11,622 817* 11,622 *Adjusted for rounding differences. LINK TO TEXT What are the current and non-current portions...
Thank you very much for answering!
Problems Problem 10-IA Current versus non-current portions of debt LO1 On January 2, 2017, Brook Company acquired machinery by issuing a 3% $300,000 note due in five on December 31, 2020. Annual payments are $78,608 each December 31. The payment schedule is: Principal Balance at Year-End Principal Portion of Payment $67,808 69,842 71,937 74,096 76,317 Interest Portion of Payment $10,800 8,766 6,671 4,512 2,291 Annual Payment Year 2017 2018 2019 2020 2021 $78,608 78,608...
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