FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On September 30, 2021, the business owner acquired a bank loan amounting to P900,000 with a term of 3 years. The first monthly installment started

On September 30, 2021, the business owner acquired a bank loan amounting to P900,000 with a term of 3 years. The first monthly installment started on October 30, 2021. Assuming the business year ended on December 31, 2021, compute for the following amounts that would appear in the balance sheet:

what is the Mortgage Payable-current portion?

what is the Mortgage Payable-remaining portion?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Forensic And Investigative Accounting

Forensic And Investigative Accounting

Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton

10th Edition

0808056301, 9780808056300

More Books

Students also viewed these Accounting questions

Question

★★★★★
For each item on the following list, give a reasonable method of sterilization. You cannot use the same method more than three times for the whole list. The method must sterilize, not just disinfect;...

Answered: 1 week ago

Question

★★★★★
For the process of condition a bank transaction using a teller in your bank: a. Draw a process flow diagram. Start when customer arrives at the bank. Fall-safe this process. b. Use IDEF method to...

Answered: 1 week ago

Question

★★★★★
If A and B are mutually exclusive events such that P(A) > 0 and P(B) > 0, then A and B cannot be independent.

Answered: 1 week ago

Question

★★★★★
Calculate the value of each of the bonds shown in the following table, all of which pay interest annually. Bond Par value $1,000 1,000 Coupon interest rate Years to maturity 20 16 Required return 14%...

Answered: 1 week ago

Question

★★★★★
Given the valid binary search tree ( BST ) below, if you are performing a search and your target key is 1 8 , how many nodes will you visit before you find it ? ( taking advantage of the properties...

Answered: 1 week ago

Question

★★★★★
I need help with my statistics homework. Questions attached below. The following is the average daily temperature for Frederick, Maryland for the month of June: 70 73 90 73 80 70 70 88 82 83 84 91 77...

Answered: 1 week ago

Question

★★★★★
Making sure that time is dedicated to problem - solving and post - performance review is an explicit part of: - Supportive learning environment. - Learning processes and practices. - Managers...

Answered: 1 week ago

Question

★★★★★
High-Low Method, Cost Formulas The controller of the South Charleston plant of Ravinia, Inc., monitored activities associated with materials handling costs. The high and low levels of resource usage...

Answered: 1 week ago

Question

★★★★★
In a research project the PMHNP is conducting, some patients are excluded from the project, so instead of randomizing subjects, the subjects are highly selected. This type of selection could produce...

Answered: 1 week ago

Question

★★★★★
The 15 tenure track professors in a university math department are paid an average of $90,000 per year, while the 10 adjunct professors are paid an average of $60,000 per year. What is the average...

Answered: 1 week ago

Question

★★★★★
9. Alicia is the project manager of the Cloud Managed Services team that works on the Spanish Telecom project. Recently the client sent a request for a custom cloud solution. The typical development...

Answered: 1 week ago

Question

★★★★★
What is one of investors' main concerns during mergers and acquisitions? a. when do lay-offs begin b. efficiency and short-term revenues will fall c. service quality dips and relationships suffer d....

Answered: 1 week ago

Question

★★★★★
1. Set a personal goal for yourself in your work situation. Examine this goal in the light of the 10 factors to achieve goals.

Answered: 1 week ago

Question

★★★★★
4. Set up at least one work role that is important for you to master. Reflect on how you can use your time more efficiently, not necessarily spend more time, to perform better in this work role.

Answered: 1 week ago

Question

★★★★★
3. List four goals that are important to you. Then set up the roles that correspond to these goals. How will you shape your personal vision as a result of your goals and roles?

Answered: 1 week ago

Previous Question Next Question