Question: Hello im in rush right now can someone please help me. I need clear solution that is easy to copy thank you!! Please provide correct
Hello im in rush right now can someone please help me. I need clear solution that is easy to copy thank you!!
Please provide correct answer thanks you! I need this Asap
For item nos. ETB'l: On January 1, 2921, SCAM Bank loaned Pi to a borrower. The contract specied that the loan had a 6year term and a 9% interest rate. Interest is payable annually every December 31 and the principal amount will be collected on December 31, 2926. lnterest is collected for 2921. On December 31, 2921, the bank determined that the loan has a 12month probability of default of 19% and expected to collect only 99% of the loan. On December 31, 2922, the bank determined that there is a signicant increase in the credit risk of the loan but no objective evidence of impairment. Based on relevant information, the bank concluded that there is a 39% probability of default over the remaining term of the loan and it is expected that only 99% of the loan will be collected. Interest is cottecteo' for 2922. On December 31, 2923, the borrower was under nancial difculty and the loan was considered impaired because there is now objective evidence of impairment. The bank agreed that only 49% of the principal will be collected on due date. Interest is cottecteo' for 2923. The present value of 1 at 9% is 9.65 for 5 periods: 9.?1 for four periods and 9?? for three periods. The entity decided to apply the threestage approach of determining the impairment of loan. The present value of 1 at 9% is 0.65 for 5 periods, 0.71 for four periods and 0.77 for three periods. The entity decided to apply the three-stage approach of determining the impairment of loan. 27) What amount should be recognized as impairment loss for 2021? a. 1,755,500 b, 1,245,700 C. 124,200 d. 300,000 e . none of the above 28) What amount should be recognized as interest income for 2022? a. 270,000 b . 267,759 C. 223,506 d. 0 e . none of the above 29) What amount should be recognized as impairment loss for 2022? a . 1,722,000 b. 1,200,000 C. 392, 100 d. 516,600 none of the above 30) What amount should be recognized as impairment loss for 2023? a . 2,076,000 b. 1,559,400 C. 1,800,000 d. 0 none of the above 31) What amount should be recognized as interest income for 2024? a . 270,000 b . 102, 196 C. 90,644 d. 83, 160 none of the above
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