Loan a/c calculations on Excel

Shurwhynot

Just looking at a sample set of accounts and i've come across a Term Loan a/c on excel.

The amount of the loan is €8,000 so this is the Opening balance.

There is €53 interest during the year, and €1,234 repaid so the closing balance is €6,819.

I am then told that Amounts payable < 1 year = €4722
And Amounts payable > 1 year = 2097.

I'm just wondering where these last 2 figures come from?

Bren1609

Its the terms of the loan. The amount of the loan that is going to be paid back within 12 months and the balance is the amount thereafter.

mkdon05

As bren said,
however them figures look very strange to me:
1. €53 is an extremely low amount of interest for a year
2. €4722 for next year is much more than the €1234 paid this year

Might be worth giving it a bit of attention.

(I am assuming that all figures are for a full year, if not then its a plausible scenario)

Shurwhynot

I know that its the terms of the loan but i'm stumped as to how the calculations came about.

And its not a full year, thats why the interest and repayment figures are so low.