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Simple MCQ question from Financial Accounting. Please solve it ASAP!!! QUESTION 49 On January 1, Year 1, Platte Corporation issues a 5-year note payable for
Simple MCQ question from Financial Accounting. Please solve it ASAP!!!
QUESTION 49 On January 1, Year 1, Platte Corporation issues a 5-year note payable for $5,000. The interest rate is 5% and the annual payment of $1,156, due each December 31, includes both interest and principal. Which of the following shows the effect of the December 31. Year 1 payment? - Assets 01.156) B 11.156) 11.156) D 11.156 O Option A Stk. Equity NA (250) (1.155) Llab (1.156) (906) NA (906 Revenue NA NA NA NA Expense NA 250 1.156 - Stmt. of Cash Flows (1156)FA (905)/12500A 11.1560A (2505A Net Inc. NA (250) 11.156) 250 = (250) - O Options O Option Option D Hide QUESTION 50 On January 1, Year 1. Platte Corporation issues a 5-year note payable for $5,000. The Interest rate is 5% and the annual payment of 51.156, due each December 31, includes both interest and principal Which of the following correctly shows the effects of the December 31, Year 2 payment (rounded to the nearest whole dolar? Revenue NA - Stk. Equity (205) (250) (205) (205) Liab. (951) (906) (951) 1951) Net Inc. (205) (250) (205) (205 Assets (1,156) (1.156) (1.156) 11.156 Option A + Stmt. of Cash Flows (205)FA (906)FA (2500A (951)FA 20510A (205)OA NA B C. D - Expense 205 250 205 205 NA NA Option B Option Option Step by Step Solution
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