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    On 1 December 2012 a 6% Bank loan was
    received from Ascot Bank for £200 000, repayable on 30 November 2022. The Bank also
    charged an arrangement fee of £4 250 for the loan.
    Do you think there will be LOAN INTEREST OF 1000 when preparing statement of comprehensive income? if there is,how??
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    (Original post by riskanya)
    On 1 December 2012 a 6% Bank loan was
    received from Ascot Bank for £200 000, repayable on 30 November 2022. The Bank also
    charged an arrangement fee of £4 250 for the loan.
    Do you think there will be LOAN INTEREST OF 1000 when preparing statement of comprehensive income? if there is,how??
    Their year end must be 31 December 2012. If that is the case then £200,000 @6%= £12,000 per year, one month's costs from 1/12-31/12/12 would be £1,000.
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    (Original post by DJKL)
    Their year end must be 31 December 2012. If that is the case then £200,000 @6%= £12,000 per year, one month's costs from 1/12-31/12/12 would be £1,000.
    thank you
 
 
 
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