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Cash may be invested in temporary investments for all of the following reasons except a. to earn interest revenue. b....
Stock Inv Stock Investments Loss on Sale of Stock Investments Cash.. . d. 25% of the...
Stock Inv Stock Investments Loss on Sale of Stock Investments Cash.. . d. 25% of the common stock of an investee company is purchased as a long-term investment, the appropriate method of accounting for the investment is a. the cost method. b. the equity method. C. the preparation of consolidated financial statements. d. determined by agreement with whomever owns the remaining 90% of the stock, 6) On January 1, 2020, Jamestina Corp. paid $1,800,000 for 100,000 shares of Belinda Company's...
gy.com/assigny 2332078316/assessment Question 10 Short-term investments 0 а 0 b are investments in debt securities or...
gy.com/assigny 2332078316/assessment Question 10 Short-term investments 0 а 0 b are investments in debt securities or equity securities in which the investor holds less than 50 percent of the voting stock and that the investor plans to sell in the very near future are debt and equity Securities that the investor expects to hold for more than a year are investments in debt and equity securities that are highly liquid and that the investor intends to convert to cash within...
D Question 18 2 pts When a company accounts for an investment under the purchase method...
D Question 18 2 pts When a company accounts for an investment under the purchase method of accounting the book value of the subsidiary's assets is added to the parent company's assets. the book value of the subsidiary's liabilities is added to the parent company's liabilities. the company owns more than 50% of the stock of the investee. O a year-end adjustment is made to increase or decrease the carrying value of the investment to fair market value Question 19...
1. Which of the following is part (U I UIRES) Theory the following is part of...
1. Which of the following is part (U I UIRES) Theory the following is part of the objective of investing in temporary investments A. Receive dividends. B. Earn interest revenue. C. Realize gains from increases in the market price of the securities. D. All of the above. 2. When a company has excess cash that is not needed for current operations, the excess can should be invested in debt securities and/or equity securities. A. True. B. False. 3. An investment...
All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end...
All of the following statements are correct, EXCEPT: a. Temporary accounts are closed at the end of the accounting period to retained earnings. b. Asset, liability, and stockholders' equity accounts are referred to as permanent accounts. c. Adjusting entries are necessary when cash flow and the economic transaction occur in the same accounting period d. Revenue, expense, and dividend accounts are described as temporary accounts. e. Closing entries prepare accounting records for the next accounting period. At the end of...
At the beginning of 2018, Ace Company had the following portfolio of investments in available-for-sale debt...
At the beginning of 2018, Ace Company had the following portfolio of investments in available-for-sale debt securities (all of which were acquired at par value): Security Cost 1/1/18 Fair Value A $35,000 $44,000 B 53,000 50,000 Totals $88,000 $94,000 During 2018, the following transactions occurred: May 3 Purchased C debt securities at their par value for $50,000. July 1 Sold all of the A securities for $44,000 plus interest of $1,000. Dec. 31 Received interest of $1,000 on the B...
1. All of the following are examples of money-market investments EXCEPT a) money-market funds. b) term...
1. All of the following are examples of money-market investments EXCEPT a) money-market funds. b) term deposits. c) treasury bills. d) shares of a privately held corporation. 2. Under the equity method of accounting for long-term investments in common shares, when a dividend is received from the investee company, a) the Dividend Revenue account is credited. b) the Investment in Associate account is increased. c) the Investment in Associate account is decreased. d) no entry is necessary 3. If a...
Question 1 1 pts Desert Company reported the following at December 31, 2019: Sales Revenue Cost...
Question 1 1 pts Desert Company reported the following at December 31, 2019: Sales Revenue Cost of Goods Sold $2,040,000 $1,400,000 $220,000 Operating Expenses Unrealized holding gain on AFS debt securities $120,000 Cash dividends received on the securities $8,000 For 2019, Desert would report Other Comprehensive Income of: $428,000 $420,000 $128,000 O $120,000 Question 2 1.5 pts Desert, Co. is preparing its 2019 financial statements. The company's accountant calculated Income from Continuing Operations to be $500,000, but upon further review...
5 of 7 (0 complete) est its temporary excess cash in a brokerage account. The company...
5 of 7 (0 complete) est its temporary excess cash in a brokerage account. The company had the following secur tab - X More Info ate Purchased 2,000 shares in Ackton Outdoor Adventure Company for $9 per share. Tree Top does not have significant influence over July Ackton. Purchased 40% of the stock of Bear Backpacks consisting of 40,000 shares of stock (out of a total of 100,000 shares) for $3 per share. Tree Top does have significant influence over...
At December 31, year 1, Charter Holding Co. owned the following investments in capital stock of...
At December 31, year 1, Charter Holding Co. owned the following investments in capital stock of publicly traded companies (classified as available-for-sale securities). Cost Current Market Value L Brands, Inc. (5,000 shares: cost, $44 per share; market value, $52) $ 220,000 $ 260,000 The Gap, Inc. (4,000 shares: cost, $42 per share; market value, $39) 168,000 156,000 $ 388,000 $ 416,000 In year 2, Charter engaged in the following two transactions. Apr. 10 Sold 1,000 shares of its investment in...
Stock Inv Stock Investments Loss on Sale of Stock Investments Cash.. . d. 25% of the common stock of an investee company is purchased as a long-term investment, the appropriate method of accounting for the investment is a. the cost method. b. the equity method. C. the preparation of consolidated financial statements. d. determined by agreement with whomever owns the remaining 90% of the stock, 6) On January 1, 2020, Jamestina Corp. paid $1,800,000 for 100,000 shares of Belinda Company's...
gy.com/assigny 2332078316/assessment Question 10 Short-term investments 0 а 0 b are investments in debt securities or equity securities in which the investor holds less than 50 percent of the voting stock and that the investor plans to sell in the very near future are debt and equity Securities that the investor expects to hold for more than a year are investments in debt and equity securities that are highly liquid and that the investor intends to convert to cash within...
D Question 18 2 pts When a company accounts for an investment under the purchase method of accounting the book value of the subsidiary's assets is added to the parent company's assets. the book value of the subsidiary's liabilities is added to the parent company's liabilities. the company owns more than 50% of the stock of the investee. O a year-end adjustment is made to increase or decrease the carrying value of the investment to fair market value Question 19...
1. Which of the following is part (U I UIRES) Theory the following is part of the objective of investing in temporary investments A. Receive dividends. B. Earn interest revenue. C. Realize gains from increases in the market price of the securities. D. All of the above. 2. When a company has excess cash that is not needed for current operations, the excess can should be invested in debt securities and/or equity securities. A. True. B. False. 3. An investment...
1. All of the following are examples of money-market investments EXCEPT a) money-market funds. b) term deposits. c) treasury bills. d) shares of a privately held corporation. 2. Under the equity method of accounting for long-term investments in common shares, when a dividend is received from the investee company, a) the Dividend Revenue account is credited. b) the Investment in Associate account is increased. c) the Investment in Associate account is decreased. d) no entry is necessary 3. If a...
Question 1 1 pts Desert Company reported the following at December 31, 2019: Sales Revenue Cost of Goods Sold $2,040,000 $1,400,000 $220,000 Operating Expenses Unrealized holding gain on AFS debt securities $120,000 Cash dividends received on the securities $8,000 For 2019, Desert would report Other Comprehensive Income of: $428,000 $420,000 $128,000 O $120,000 Question 2 1.5 pts Desert, Co. is preparing its 2019 financial statements. The company's accountant calculated Income from Continuing Operations to be $500,000, but upon further review...
5 of 7 (0 complete) est its temporary excess cash in a brokerage account. The company had the following secur tab - X More Info ate Purchased 2,000 shares in Ackton Outdoor Adventure Company for $9 per share. Tree Top does not have significant influence over July Ackton. Purchased 40% of the stock of Bear Backpacks consisting of 40,000 shares of stock (out of a total of 100,000 shares) for $3 per share. Tree Top does have significant influence over...
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