QUESTIONS:

1. How much is the annual installments?

2. On 12/31/2021, the CURRENT PORTION of the NP would be?

3. How much is the Present value at December 31, 2022?

4. Consider that the equal installment every year is the same with the given yet the prevailing market interest rate is 10%, how much would be the present value at 01/01/2020?

5. How much is the interest expense on December 31, 2020?

6. How many periods or equal installments to pay the Note Payable?

7. How much is the interest expense on December 31, 2021?

QUESIONS:

8. What is the life in years of the equipment? Salvage value P225,000

9. What is the life in years of the equipment? (no salvage value)

NEED ANSWER ASAP. GIVE SOLUTION. THANK YOU!

On 1/1/2020, Luffy Corp purchased an equipment for P2,187,500 payable in equal installments on every December 31 of each year. The imputed interest rate is 12%. You are given the following data: periods PV of an ordinary annuity of 1 5 PV of an ordinary annuity of 1 6 PV of an ordinary annuity of 1 7 PV of an ordinary annuity of 1 8 10% 12% 3.79079 3.60478 4.35526 4.11141 4.86842 4.563 76 5.33493 4.96764 Present Value 1/1/2020 1,426,175 Interest Expense 12/31/2020 171,141 Present Value 12/31/2020 1,284,816 00 IS CHOICES: A 5 B 6 C 7 D 154,178 E 158,322 F 171,141 G 177,321 H 222,431 1 257500 J 312,500 949,173 L 1,284,816 M 1,426,175 N 1,521,381 Consider the following data of Luffy: Luffy started operations October 1, 2019. Luffy purchased equipment November 1,20 19 P1,125,0DD. Depreciation Expense-2019 P12,50D CHOICES IYEARS): A9 B 10 C 11 D 12 E 13 F 14 G 15 H 16 On 1/1/2020, Luffy Corp purchased an equipment for P2,187,500 payable in equal installments on every December 31 of each year. The imputed interest rate is 12%. You are given the following data: periods PV of an ordinary annuity of 1 5 PV of an ordinary annuity of 1 6 PV of an ordinary annuity of 1 7 PV of an ordinary annuity of 1 8 10% 12% 3.79079 3.60478 4.35526 4.11141 4.86842 4.563 76 5.33493 4.96764 Present Value 1/1/2020 1,426,175 Interest Expense 12/31/2020 171,141 Present Value 12/31/2020 1,284,816 00 IS CHOICES: A 5 B 6 C 7 D 154,178 E 158,322 F 171,141 G 177,321 H 222,431 1 257500 J 312,500 949,173 L 1,284,816 M 1,426,175 N 1,521,381 Consider the following data of Luffy: Luffy started operations October 1, 2019. Luffy purchased equipment November 1,20 19 P1,125,0DD. Depreciation Expense-2019 P12,50D CHOICES IYEARS): A9 B 10 C 11 D 12 E 13 F 14 G 15 H 16