Entei Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on the loan is 8% payable semi-annually. The loan matures in three years on December 31, 2022. The effective interest rate on the loan is 10%. How much is the total interest income to be presented on the statement of comprehensive income for 2020?
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Entei Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on the loan is 8% payable semi-annually. The loan matures in three years on December 31, 2022. The effective interest rate on the loan is 10%.
How much is the total interest income to be presented on the statement of comprehensive income for 2020?
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- Suicune Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on the loan is 8% payable semi-annually. The loan matures in three years on December 31, 2022. The effective interest rate on the loan is 6%. How much is the carrying amount of the loan as of December 31, 2020?What is the interest income for 2021? Philippine Bank granted a loan to a borrower on January 1, 2021. The interest on the loan is 8% payable annually starting December 31, 2023. Principal amount Origination fee charged against the borrower Direct origination cost incurred 3,000,000 100,000 260,300 After considering the origination fee charged to the borrower and the direct origination cost incurred, the effective rate on the loan is 6%. a. 240,000 O b. 189,618 c. 252,824 O d. 180,000MNO Bank granted a loan to a borrower on January 1, 2020. The interest on the loan is 10% payable annually starting December 31, 2020. The loan matures in three years on December 31, 2022. Additional information is as follows: Principal amount of P5,000,000; Direct origination cost incurred for P100,000; Indirect origination cost incurred for P50,000 and Origination fee received from the borrower was P340,000. After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 12%. Compute for the carrying amount of the loan receivable on December 31, 2020
- MNO Bank granted a loan to a borrower on January 1, 2020. The interest on the loan is 10% payable annually starting December 31, 2020. The loan matures in three years on December 31, 2022. Additional information is as follows: Principal amount of P5,000,000; Direct origination cost incurred for P100,000; Indirect origination cost incurred for P50,000 and Origination fee received from the borrower was P340,000. After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 12%. Compute for the interest income for 2020.M&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable annually starting March 31 2021. The loan matures in three years on March 31, 2023. Data related to the loan are:Principal amount - ₱ 4,000,000; Origination fees charged against the borrower - ₱ 342,100; Direct origination cost incurred - ₱ 150,000. After considering the origination fees charged against the borrower and the direct origination cost incurred, the effective rate on the loan is 12%. What is theCarrying value of the loan as of March 31, 2021?How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000
- How much shall be reported as interest income for 2022? ALVR Digital Bank granted a loan to a client on January 1, 2022. The interest on the loan is 12% payable annually starting December 31, 2022. The loan matures in three years on December 31, 2024. Pertinent information on the loan is provided below: Principal amount Origination fee received from the borrower Direct origination cost Indirect origination cost incurred After considering the origination fee received from the borrower and the direct origination cost incurred, the effective rate on the loan is 9%. 1,000,000 44,900 120,856 12,000 O 90,000 O 96,836 O 120,000 O 129,115 O Answer not givenM&M Bank granted a loan to a borrower on April 1, 2020. The interest on the loan is 10% payable annually starting March 31 2021. The loan matures in three years on March 31, 2023. Data related to the loan are:Principal amount - ₱ 4,000,000; Origination fees charged against the borrower - ₱ 342,100; Direct origination cost incurred - ₱ 150,000. After considering the origination fees charged against the borrower and the direct origination cost incurred, the effective rate on the loan is 12%. What is the Carrying value of the loan as of April 1, 2020?On January 1, 2021, a borrower was granted a loan by Qatar Bank. The loan interest is payable annually starting December 31, 2021 at an interest rate of 10%. The loan matures in five years on December 31, 2025. The principal amount of the loan is P4,000,000. The borrower was charged with origination fees in the amount of 350,000. The bank incurred P61,500 origination cost. What is the carrying amount of the loan receivable on December 31, 2021? a. 4,243,120 b. 4,000,000 c. 3,756,880 d.3,600,000
- Maris Banking Corporation granted a loan to a borrower on January 1, 2020. The interest rate on the loan is 10% payable annually starting December 31, 2020. The loan matures in five years on December 31, 2025. The data related to the loan are: Principal amount 6,000,000 Direct origination cost 92,250 Origination fee received from borrower 525,000 Indirect origination cost 100,000 The effective rate on the loan after considering the direct origination cost and origination fee received is 12%. What is the carrying amount of loans receivable on December 31, 2021?Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10% payable annually starting December 31,2021. The loan matures in three years on December 31,2023. Data related to the loan are: Principal amount ₱4,000,000 Origination fees charged against the borrower 342,100 Direct origination cost incurred 150,020 Based on the above data, answer the following: (Round off present value factors to four decimal places) 1. The carrying amount of the loan as of January 1,2021 is a. ₱3,807,920 c. ₱4,192,080 b. ₱4,000,000 d. ₱4,492,120 2. The effective interest rate of the loan is a. 9% c.12% b. 10% d.12.19% 3. The interest income to be recognized in 2021 is a. ₱400,000 c. ₱464,185 b. ₱456,950 d. ₱404,291 4. The carrying amount of the loan as of December 31,2021 is a. ₱3,864,870 c. ₱4,000,000 b. ₱3,872,105 d. ₱4,496,411 5. The current portion of the loan as of December 31,2021 is a. Nil c. ₱63,784 b. ₱56,950 d. ₱400,000Chris Garcia Bank granted a loan to a borrower on January 1,2021. The interest on the loan is 10% payable annually starting December 31,2021. The loan matures in three years on December 31,2023. Data related to the loan are: Principal amount ₱4,000,000 Origination fees charged against the borrower 342,100 Direct origination cost incurred 150,020 Based on the above data, answer the following: (Round off present value factors to four decimal places) 1. The carrying amount of the loan as of December 31,2021 is a. ₱3,864,870 c. ₱4,000,000 b. ₱3,872,105 d. ₱4,496,411 2. The current portion of the loan as of December 31,2021 is a. Nil c. ₱63,784 b. ₱56,950 d. ₱400,000