Blue Inc. reports under IFRS and has adopted the policy of classifying interest received as an investing activity. During 2023, Blue lent $29,000 to a key supplier in exchange for a two-year interest-bearing promissory note. Interest revenue earned on the note and recorded on the statement of income was in the amount of $1,230 and a balance of $410 for interest receivable was reported on the statement of financial position at December 31, 2023, relating to the note. Prepare Blue's cash flows from (used by) investing activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a negative sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blue Inc. Statement of Cash Flows > tA tA

On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10% interest rate. Each annual payment is in the amount of $39,569 and payment is due each Dec. 31. What is the journal entry on Jan. 1 to record the cash received and on Dec. 31 to record the annual payment? (You will need to prepare the first row in the amortization table to determine the amounts.)

Galubhai

On June 1, 2025, Thomas Company borrowed $42,000 from a bank on a 7%, 8-month note payable. On August 1, 2026, Thomas Company borrowed $63,000 from a bank on a 16%, 9-month note payable. Calculate the total amount of interest expense related to these two loans that Thomas Company would report in its 2026 income statement.

On November 16, 2019, Clear Glass Company borrowed $24,000 from First American Bank by issuing a 90-day, non-interest-bearing note. The bank discounted this note at 12% and remitted the difference to Clear Glass. Required: 1. Prepare the journal entries of Clear Glass to record the preceding information, the related calendar year-end adjusting entry, and payment of the note at maturity. 2. Show how the preceding items would be reported on the December 31, 2019, balance sheet. 3. Next Level What is Clear Glass Company’s effective interest rate?

In Orchard Company’s December 31, 2022 statement of financial position, a note receivable was reported as a non-current asset and its accrued interest for eight months was reported as a current asset. Which of the following terms would fit Orchard’s note receivable? A.) Both principal and accrued interest amounts are payable on April 30, 2023 and April 30, 2024 B.) Principal and interest amounts are payable on December 31, 2023 C.) Both Principal and interest amounts are payable on December 31, 2023 and December 31, 2024. D.) Principal is due on April 30, 2024 and interest is due on April 30, 2023 and April 30, 2024.

FINANCIAL ACCOUNTING (a) Compute the amount of interest during 2020, 2021, and 2022 for the following notes receivable; on april 30, 2020, BCDE lent $170,000 to Abbot on a two-years 7% note. (b) Which party has a (an) a. notes receivable b. notes payable c. interest revenue d. interest expense (c) How much total would BCDE collect if Abbot paid off early, say on November 30, 2020?

Greener Pastures Corporation borrowed $1,950,000 on November 1, 2021. The note carried a 9 percent interest rate with the principal and interest payable on June 1, 2022. (a) The note issued on November 1. (b) The interest accrual on December 31. Indicate the effects of the amounts for the above transactions.

On January 1, 2018, the Apex Company exchanged some shares of common stock it had been holding as aninvestment for a note receivable. The note principal plus interest is due on January 1, 2019. The 2018 incomestatement reported $2,200 in interest revenue from this note and a $6,000 gain on sale of investment in stock. Thestock’s book value was $16,000. The company’s fiscal year ends on December 31.Required:1. What is the note’s effective interest rate?2. Reconstruct the journal entries to record the sale of the stock on January 1, 2018, and the adjusting entry torecord interest revenue at the end of 2018. The company records adjusting entries only at year-end

dog Subject-Accounting