On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note $60,000 at 4%.Please see the partial amortization schedule below.
- At the end of 2013,what amount would be shown on the balance sheet for mortgage payable (excluding the current portion)?
A) $40,544.55
B) $50,466.48
C) $9,533.52
D) $9,921.93

Question

On January 1,2013,Thames Company purchases property and signs a 6-year mortgage note $60,000 at 4%.Please see the partial amortization schedule below. 
- At the end of 2013,what amount would be shown on the balance sheet for mortgage payable (excluding the current portion)?
A) $40,544.55 
B) $50,466.48 
C) $9,533.52 
D) $9,921.93

Quizplus · Accepted Answer

A) Calculations: $50,466.48 - $9,921.93 = $40,544.55

On January 1,2013,Thames Company Purchases Property and Signs a 6-Year