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    Mechaella Shella Ningal Apolinario
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    © All Rights Reserved
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    7 views5 pages

    NR

    Uploaded by

    Mechaella Shella Ningal Apolinario

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
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    etrmines tht the eect meres i, se the The ners income Yor Tis 9) traeaeeseives a longterm noninterest beeing yay | San The note equtes @ HEMP SUM PAYER at ma 0 Co denne tha he fective ret egg! ae Con is 1 wile the appropriate Present valet srg. The interest income in Year 1 is P9000. {Use the information in the preceding Problem (ie, Cyt cy, ‘The ines income in Yar 25 P90. Fees ce recies a T,000000, noninterest-beating nate y pone abi in intallnents. On. inital recogriton yy “Srmane amount ofthe note was P9O00D Ifthe amortaase Stine noe daring the period is P50,00, the carying amon, Grthe note at he end ofthe period must be PS50 00 Pawn Ca, receives a PL,200000, noninterest bearing nt is colletible in installments. On. initial recognition, “amying amount ofthe note was P800,00. At the end of Yer 1 the carrying. amount of the note was P8000, ty amortization ofthe note in Year 1 must be P100,000 state. Bind Co- PROBLEM 2: MULTIPLE CHOICE - THEORY 1 ‘Which of the following statements is incorrect? a Receivables other than trade receivables are intl recognized at fair value plus transaction costs. » Unearned interest income on a receivable contrarsset asset account rather than a abil © A short-term, non-trade reeivable may neverthes

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