中级会计债券和长期票据-分期付款.pptVIP

Installment Notes Payable Allocating Installment Payments Between Interest and Principal Identify the unpaid principal balance. Unpaid Principal ?Interest rate = Interest expense. Installment payment - Interest expense = Reduction in unpaid principal balance. Compute new unpaid principal balance. Allocating Installment Payments Between Interest and Principal Allocating Installment Payments Between Interest and Principal Allocating Installment Payments Between Interest and Principal Installment Notes-EG On January 2, 2011, Matrix Inc. leased an equipment (fair value is 2,500,000, useful life is 5 years) for 3 years. 900,000 lease expenses to be paid on December 31, each year. The market rate of interest is 8%. Prepare the required journal entries for Matrix Inc. 2,319,390 / 2,500,000 = Called: financing lease 融资租赁 Equipment_ financing lease 2,319,390 Discount on payable 380,610 long-term payable (长期应付款) 2,700,000 课堂练习 课后习题P413，E9-18 3. December 31, 2011 Interest expense (10% x outstanding balance) 400,000Note payable (difference) 861,881 Cash (payment determined above) 1,261,881 4. December 31, 2013 Interest expense (10% x outstanding balance) 219,005Note payable (difference) 1,042,876 Cash (payment determined above) 1,261,881 End of Chapter 9 9 - * 9 - * 9 - * Long-term notes that call for a series of installment payments. Each payment covers interest for the period AND a portion of the principal. With each payment, the interest portion gets smaller and the principal portion gets larger. On January 1, 1999, Rocket Corp. borrowed $7,851.57 from First Bank of River City. The loan was a five-year loan and had an interest rate of 10%. The annual payment is $2,000. Prepare an amortization table for Rocket Corp.’s loan. Now, prepare the entry for the first payment on January 1, 2000. The informati