Sahirah received a promissory note valued at RM8,550 for 115 days with an interest rate of 5.5% per annum. The note matured on 28th May 2014. Find: the date of the note the maturity value of the note.

Q: 6. On 20th March 2017,Fuad received a 120 days promissory note with a face value of RM6,000 at an…

A: Promissory note is described as an instrument in which one party promises to pay the amount to…

Q: On January 1, 2020, MP's customer issued a 3 year 8% note, PHP 3,000,000 for services billed to be…

A: Carrying amount is also known as carrying value or book value. The carrying amount of a note issued…

Q: ali has invested his money to a CD of Bank TTC  on 14 June  2019. The CD matures on 12 October 2019.…

A: A CD is a bank or credit union product that offers a higher interest rate in exchange for the…

Q: On 1 November, Year 1, Noble Co. borrowed P80,000 from South Bank and signed a 12%, six-month note…

A: Solution: Interest on note at maturity = P * R* T = P80,000 * 12%*6/12 = P4,800

Q: On December 31, 2021, Party Company received two P 50,000 notes receivable from customers in…

A: Receivables are collected from the persons who owe to the business. A note is carrying on an…

Q: On September 1, 2022, Darren Co. borrowed P150,000 from BPI by issuing 8% note due August 31, 2023,…

A: Note: Interest amount should be recognized on the amount borrowed. Accounts receivables pledged as…

Q: Liam Byrne borrowed Php 1,500,000 at 3% interest from Erik Torsten on July 1, 2022, the promissory…

A: Disclaimer: We have solved 3 sub-parts, if you want to resolve it further, please resubmit it with…

Q: On July 1, 2017, Sun Company issued a five-year note payable with a face amount of P7,000,000 and an…

A: Calculation of the amount to be included in current liabilities section::: With respect to the note,…

Q: To finance the purchase of the machine by issuing RM5 million, six-year, zero interest-bearing note…

A:

Q: On 20th March 2017,Fuad received a 120 days promissory note with a face value of RM6,000 at an…

A: SOLUTION- PROMISSORY NOTE- A SIGNED DOCUMENT CONTAINING A WRITTEN PROMISE TO PAY A STATED SUM TO A…

Q: As of December 31, 20A, Mr. Kadil Guiamad holds a 60-day, 10% note of P240,000 signed by Ma.…

A: (a) The following Journal entry would be passed in the books of Kadil Guiamad upon the released of…

Q: At what amount should be the note receivable from UUU Company be reported at year-end?

A:

Q: Sydney limited draws a promissory note with a face value of $50 000 and a maturity of 181 days. The…

A: Interest rate can be calculated as: = Discount amount / Present value * 365/ Days to maturity * 100

Q: Keesha Co. borrows $200,000 cash on November 1, 2018, by signing a 90-day, 9% note with a face value…

A: Since we are entitled to answer up to 3 sub-parts, we’ll answer the first 3 schedules. Please…

Q: 22- On 01.10.2019, the enterprise opened a time deposit account at Ziraat Bank with a maturity of 9…

A: Interest means the income earned on the amount invested by investor.  Even if the interest is not…

Q: /1/2018, Jambo Group makes a loa to Marie Co. and receives in exchange a five-year, $50,000 note…

A: Interest revenue that will be recognized can be computed as follows:

Q: On July 1, 2019, Lp Manufacturing Co. issued a five-year note payable with a face amount of P250,000…

A: Interest accrued on December 31, 2019 = Face value of note x rate of interest x no. of months/12 =…

Q: Rebecca signed a $6,000, 120-day, 14% exact simple interest note on May 6. She made partial payments…

A: Principal payment refers to the amount of loan that is paid back by the borrower. The loan amount is…

Q: A note of P 55,000 dated January 1, 2015 is due in 5 years and 6 months with interest at 9%…

A: First, we will calculate the compound interest amount for the whole period, and then we will be…

Q: ABC signed a 5-year, 9% note payable for $80,000 on May 1, 2012. Which account will be credited when…

A: Journal entry for Note Payable   1.Interest expense will be debited to book current years interest…

Q: On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note…

A: Issue price of the Notes = Present value of principal + Present value of interest payments = face…

Q: On 1 September 2021, ABC Bhd used its receivables totalling RM 350,000 as collateral on : 250,000,…

A: Journal entries refers to reporting of business transaction into the books of the entity as well as…

Q: To finance the purchase of the machine by issuing RM6 million, six-year, zero interest-bearing note…

A:

Q: James lends Henry 500,000. He must repay the loan with 192 end of month payments with the nominal…

A: This is an example of growing annuity. Here, Present value of growing annuity (PVGA) - 500000 The…

Q: Dirk Ward borrowed $12,000.00 for investment purposes on May 19 on a demand note providing for a…

A: Here, Borrowing Amount is $12,000 Interest Rate on May 19 is 4% Interest Rate from 1st August is…

Q: On January 1, 2021, Mahogany Company issued a note with a face amount of P2,000,000. The note…

A: Bond Value  2000000   coupon rate 10%   Market rate 12.50% Coupon payable every year end for…

Q: 10. Haris received a 110-day promissory note on 16th June 2018 with a simple interest rate of 5% per…

A: Maturity value = Proceeds / [ 1 - ( Discount rate * Period / 365 ) ]

Q: Mr. Eden borrows from the bank P600,000 at 12% pa, agreeing to pay the loan in 15 equal quarterly…

A: Number of quarterly payments (N) = 15 Loan = 600,000 Rate = 12% p.a. Number of compounding periods =…

Q: On July 1, 2020, Jason Corporation pledged P5,000,000 of its accounts receivable to Philippine Bank…

A: Accounts Receivable Pledging:- It is the use of accounts receivable as collateral to secure loans…

Q: On 22 march 2016, Ali received a 90-day promissory note with simple interest rate of 7% per annum.…

A: Date of drawn 22.03.2016 Duration 90 days Maturity date 20.06.2016

Q: The Pita Pit borrowed $197,000 on November 1, 2021, and signed a six-month note bearing interest at…

A: Notes payable is the amount that is being borrowed and will have to be paid to another person.…

Q: On January 10th a bank sold a P100,000 certificate of deposit to mature on March 10th and bear…

A: 1. Certificate of Deposit is held for 2 month from January 10 to March 10. 2. Interest rate 5% is…

Q: On december 31, 2017, Precious Company sold an equipment with carrying amount of 2,000,000 and…

A: Solution Given Annual payment 500000 Number of years 10 years Note issue date…

Q: On December 31, 2021, MATARLO Company received two P1,000,000 notes receivable from customers in…

A: Interest rate = 3% Notes receivables = P 1000000 Interest = receivable at maturity  Terms = 9 months…

Q: 8. Mellisa received a 160-day promissory note and the note was discounted at a rate of 6%. The…

A: What is Promissory Note? A Promissory note is a financial instrument that contains a formed…

Q: How much interest expense should be accrued

A: Interest charged on the principal amount at a fixed rate for a fixed period of time is known as…

Q: Barry signed a $5,000, 75-day, 15% ordinary simple interest note on March 14. He made a partial…

A: According to US rule, We first calculate interest on $5000 from march 14th to April 12th i.e. for 17…

Q: On December 31, 2020, LILY Company received two ₱2,000,000 notes receivable from customers. On both…

A: Present value of first note = Present value of principal + Present value of interest payments = face…

Q: Reya placed Php 18,000 in a 240 day term deposit earning 8.5% per annum. How much will the bank pay…

A: Principal ,P= Php 18,000 Time,t = 240 days Rate of interest, r= 8.5% Taking 365 days in a year for…

Q: On July 1, 2017. Agincourt Inc. rendered services in exchange for a 4%. 8-year promissory note…

A:

Q: On Dec 30, 2020 Fox purchased a machine from Grisley Corp in exchange for a zero-interest bearing…

A: Number of Payments= 8 Down payment date= Dec 30, 2020 (Ist payment date) Rate of Interest= 11%…

Q: On April 1, 2015, a company received a one-year note receivable bearing interest at the market rate.…

A: On issuing the note bearing interest rate at market rate, the interest is accrued every month till…

Q: On March 8. Manuel borrowed S720.00 from his uncle at 4.3% per annum calculated on the daily…

A:

Q: To finance the purchase of the machine by issuing RM6 million, six-year, zero interest-bearing note…

A:

Q: On June 8, Alton Co. issued an $75,537, 7%, 120-day note payable to Seller Co. Assuming a 360-day…

A: Maturity value of the note = Principal + Interest = $75537+1763 = $77300

Q: On January 1, 2022 Hideki Matsuyama provides services in exchange for a $10,000 zero-interest…

A: Solution: Present value of note on Jan 1, 2022 = $10,000 * PV of 1 at 15% for 4 periods = $10,000 *…

Q: The transactions related to liabilities by Maria Bhd for the year 2020 are as follows: 03 July…

A: 1. Purchase Price of machinery = 75,000 Discount is amount paid within 15 days = 75,000 x 2% = 1,500…