Question
What is accrued interest?
Answers
Accrued interest is the amount of loan interest that has already occurred, but has not yet been paid to the lender by the borrower.

The accrued interest will be reported by the borrower as both an expense on its income statement, and a current liability on its balance sheet.

The accrued interest will be reported by the lender as both revenue on its income statement, and a current asset on its balance sheet.

Accrued interest is likely to require adjusting entries by both the borrower and the lender prior to issuing their financial statements.   Your Comment




  • Contributors: *,
More Finance Questions..
Very important Financial Tips that everyone should know..
What is a blank endorsement?
What is the difference between profit and gain?
What Is Account?
what is discount cash flow management?
List out things that fall under intangible asset?
How are period costs reported in the financial statements?
Tell me is financial accounting necessary?
Explain what is “over the counter market”?
What is gaap?
What are the most important goals of accounts receivable?
What are the basic financial statements?
Inspiron 1501 has complete care warranty and got dropped by customer accidentally. What kind of DPS do we create?

(A)Depot CCC

(B)Depot SCC

(C)Onsite with all needed parts

(D)Exchange System
Define the coefficient of correlation when in a negative amount?
Explain what is inflation and how is it measured?
When should a product warranty liability be recorded?
The Western Union Company , a global leader in money-transfer services, has recently announced the launch of its Digital Vendor Program intended to extend the reach and accessibility of Western Union Money Transfer(r) services to mobile finance initiatives in?
What is fbt (fringe benefit tax)?
Which items on a bank reconciliation will require a journal entry?
What are the different fields of accounting?


Search
Can you Answer!!
  • Q How To Get an Extra White Space?
  • Q Collect the ____ from all possible sources.
  • Q Name the satellite recently launched by NASA for tracking carbon dioxide responsible for global warming?
  • Q What is meant by s0c-07 system abend codes?
  • Q explain the following : CAPP
  • Q Is it possible for a company to show positive cash flow but be in grave trouble?
  • Q Who created Popeye
  • Q The Election Commission in India is constituted in:
  • Q What actions are performed in fetch cycle?
  • Q Do you mock classes & interfaces?
  • Q What is e2fsck command?