Question
Accrued Interest & Debt Rollforward As of May 31, 2022 Loan Statement Accrual Period Covered Accrual/Expense Period Accrual Acct # Account Description Loan Acct #
Accrued Interest & Debt Rollforward | |||||||||||||
As of May 31, 2022 | |||||||||||||
Loan Statement | Accrual | ||||||||||||
Period Covered | Accrual/Expense Period | ||||||||||||
Accrual Acct # | Account Description | Loan Acct # | Description | Start Date | End Date | Total Amount | Covered Days | Daily Amount | Start Date | End Date | Rate | Principle | Total Amount |
2225-00 | Accrued Interest-NP | 2108-00 | Note Payable-Affiliate | 12/2/2021 | 12/31/2021 | 1,980.00 | 30 | 66.00 | 12/2/2021 | 12/31/2021 | 0.330% | 7,300,000.00 | (1,980.00) |
2225-00 | Accrued Interest-NP | 2108-00 | Note Payable-Affiliate | 1/1/2022 | 1/31/2022 | 2,046.00 | 31 | 66.00 | 1/1/2022 | 1/31/2022 | 0.330% | 7,300,000.00 | (2,046.00) |
2225-00 | Accrued Interest-NP | 2108-00 | Note Payable-Affiliate | 2/1/2022 | 2/28/2022 | 1,848.00 | 28 | 66.00 | 2/1/2022 | 2/28/2022 | 0.330% | 7,300,000.00 | (1,848.00) |
2225-00 | Accrued Interest-NP | 2108-00 | Note Payable-Affiliate | 3/1/2022 | 3/31/2022 | 2,046.00 | 31 | 66.00 | 3/1/2022 | 3/31/2022 | 0.330% | 7,300,000.00 | (2,046.00) |
2225-00 | Accrued Interest-NP | 2108-00 | Note Payable-Affiliate | 4/1/2022 | 4/30/2022 | 1,980.00 | 30 | 66.00 | 4/1/2022 | 4/30/2022 | 0.330% | 7,300,000.00 | (1,980.00) |
2225-00 | Accrued Interest-NP | 2108-00 | Note Payable-Affiliate | 5/1/2022 | 5/31/2022 | 2,046.00 | 31 | 66.00 | 5/1/2022 | 5/31/2022 | 0.330% | 7,300,000.00 | (2,046.00) |
Total Monthly Accrual | Acct # | 2225-00 | (11,946.00) | ||||||||||
Per TB | (9,900.00) | ||||||||||||
Variance | (2,046.00) | ||||||||||||
Penzance Test | |||||||||||||
Debt Schedule | |||||||||||||
As of May 31, 2022 | |||||||||||||
2108-00 | |||||||||||||
TOTAL | |||||||||||||
Date | Description | Note Payable-Affiliate | |||||||||||
12/2/2021 | Note Payable | 7,300,000.00 | |||||||||||
Total | 7,300,000.00 | ||||||||||||
Per TB | 7,300,000.00 | ||||||||||||
Variance | - | ||||||||||||
Intructions
1) If current loan statement is available, post accrued interest according to the amount shown on loan statement by inputting data in the blue cells under Step # 1 | ||||||
2) If loan statement is unavailable, Acountant should complete the cells in blue under Step # 2 and include supporting invoices/budget amounts in PDF package for manager to use during review. | ||||||
Loan balance should tie to most recent loan statement. Interest rate should agree to (1) loan debriefing memo or (2) loan statement. | ||||||
If variance exists, Accountant should correct the variance or add an explanation. Accountant and Manager to confirm the loan statement or recalculated amounts agree to the trial balance w/o/e. | ||||||
Accountant should verify schedule ties back to the trial balance w/o/e. Manager to confirm this. | ||||||
Account should verify schedule ties to the loan statements w/o/e. Manager to confirm this. |
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