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As equal instalment payments are made on a long-term loan, O both the interest portion and the principal portion decrease. the interest and principal portions remain the same. the interest portion increases and the principal portion decreases. O the interest portion decreases and the principal portion increases.

As equal instalment payments are made on a long-term loan, O both the interest portion and the principal portion decrease. the interest and principal portions remain the same. the interest portion increases and the principal portion decreases. O the interest portion decreases and the principal portion increases.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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As equal instalment payments are made on a long-term loan, both the interest portion and the principal portion decrease O the interest and principal portions remain the same. O the interest portion increases and the principal portion decreases. O the interest portion decreases and the principal portion increases. QUESTION 20 For last year, Bonita Corporation reported net income of $710,000, and paid $174,000 in dividends for the 250,000 preferred shares issued. The weighted average of common shares was 1,675,000 shares. Bonita's basic earnings per share was $0.42 $0.28 O $0.32 O $0.10
Transcribed Image Text:As equal instalment payments are made on a long-term loan, both the interest portion and the principal portion decrease O the interest and principal portions remain the same. O the interest portion increases and the principal portion decreases. O the interest portion decreases and the principal portion increases. QUESTION 20 For last year, Bonita Corporation reported net income of $710,000, and paid $174,000 in dividends for the 250,000 preferred shares issued. The weighted average of common shares was 1,675,000 shares. Bonita's basic earnings per share was $0.42 $0.28 O $0.32 O $0.10
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