Use the information from Cen, Inc. to answer questions 35 and 36.
Cen, Inc. reported the following on its December 31, 2010, balance sheet:

-How much is the maturity value of the one-year note payable that is outstanding at the end of 2010?
A) $9,500
B) $9,800
C) $10,100
D) $10,400

Question

Use the information from Cen, Inc. to answer questions 35 and 36.
Cen, Inc. reported the following on its December 31, 2010, balance sheet:
 
-How much is the maturity value of the one-year note payable that is outstanding at the end of 2010?
A) $9,500 
B) $9,800 
C) $10,100 
D) $10,400

Quizplus · Accepted Answer

The maturity value of a note payable is the principal amount plus any interest accrued over the period. Without specific details on the interest rate or principal amount, the most reasonable assumption is that the maturity value is slightly above the principal, making $10,100 a plausible choice.

Use the Information from Cen, Inc