On January 1, 2015, Bratios Company Purchases Equipment and Signs

question 25

Multiple Choice

On January 1, 2015, Bratios Company purchases equipment and signs a 6-year mortgage note for $80,000 at 15%. The note will be paid in equal annual installments of $21,139, beginning January 1, 2016. Calculate the balance of the Mortgage Payable account after the payment of the first installment.

• A)$12,000
• B)$58,861
• C)$70,861
• D)$60,351

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Definitions:

Psychological Empowerment

A state in which individuals feel a sense of control over their work, perceive their work as meaningful, and believe they can perform competently.

Personal Fulfillment

A sense of satisfaction and achievement derived from pursuing and realizing one’s own goals, desires, or potentials.

Self-Determination

A theory of motivation that holds individuals have innate psychological needs that are the basis for self-motivation and personality integration.

Telecommuting

Remote work, allowing employees to complete their work tasks from outside traditional office environments, often from home, using digital technologies.