HUI 21.doc

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On July 1, 2011, Allen Company signed a $130,000, one-year, 5 percent note payable. The principal and interest will be paid on June 30, 2012. How much interest expense should be reported on the income statement for the year ended December 31, 2011?

$6,500
$3,250
$1,625
$0

Three years ago mary decided to invest in a mutual fund that had a favorable 10 year track record. over the past 3 years her mutual fund investment has lost money. it is fair to say that mary’s expected return was higher there her_______return

a.time adjusted
b.realized
c.variable
d.compound annual