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单选题 If an investor owns less than 20% of the common stock of another company as a long-term investment
学科：2023-2024-1 财务会计（英）
时间：2023-10-15 21:44:02
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题目1单选题
Marathon Corporation owns 500 shares of Mini Company's common stock. Mini Company has 100,000 shares of common stock outstanding. Marathon Corporation is the ________ and Mini Company is the ________A. investee; investorB. investor; investeeC. parent company; subsidiary companyD. controlling company; noncontrolling company
题目2单选题
On January 1, 2014, Winston Company purchased 6% bonds with a face value of $50,000 for par. Winston Company intends to hold the bonds until maturity. Interest is payable semiannually on July 1 and January 1. The company's fiscal year ends on December 31. The journal entry on July 1, 2014 isA. debit Cash $3,000 and credit Interest Revenue $3,000B. debit Cash $1,500 and credit Interest Revenue for $1,500C. debit Cash $1,500 and credit Interest Receivable for $3,000D. debit Cash $3,000 and credit Interest Receivable for $3,000
题目3单选题
When an investment is readily convertible to cash and the investor plans to convert the investment to cash within one year, the investment is reported on the balance sheet asA. a current assetB. a long-term assetC. stockholders' equityD. a cash equivalent
题目4单选题
Unrealized gains and losses from long-term available-for-sale investments arise fromA. the purchase of an investmentB. the sale of the investmentC. changes in the fair value of the investmentD. investor's share of investee's net income or net loss
题目5单选题
Long-term investments includeA. stocks and bondsB. securities that the investor expects to hold longer than one yearC. securities reported in the noncurrent asset section of the balance sheetD. all of the above
题目6单选题
An investor purchased bonds and intends to hold them until the maturity date which is 10 years into the future. The bonds were purchased at a discount. One year after purchase, this Held-to-Maturity Investment in Bonds will be reported at ________ on the balance sheetA. fair valueB. historical costC. lower of cost or marketD. amortized cost
题目7单选题
On January 1, 2015, Benson Company purchases $100,000, 6% bonds at a price of 95 and a maturity date of January 1, 2020. Benson Company plans to hold the bonds until their maturity date. Interest is paid semiannually, on January 1 and July 1. Benson Company has a calendar year end. The adjusting entry on December 31, 2015 isA. debit Cash $3,000 and credit Interest Revenue $3,000B. debit Cash $6,000 and credit Interest Revenue $6,000C. debit to Interest Receivable $3,000, debit Held-to-Maturity Investment in Bonds for $500 and credit Interest Revenue $3,500D. debit to Interest Receivable $6,000 and credit Interest Revenue $6,000
题目8单选题
On January 1, 2015, Carmody Corporation purchased 5% bonds with a face value of $40,000 for $42,000. Carmody Corporation intends to hold the bonds until the maturity date. Interest is paid semiannually on January 1 and July 1. The journal entry on January 1, 2015 isA. debit Held-to-Maturity Investment in Bonds for $40,000, debit Premium on Bonds for $2,000 and credit Cash for $42,000B. debit Held-to-Maturity Investment in Bonds for $42,000 and credit Cash for $42,000C. debit Investment in Bonds for $42,000 and credit Interest Revenue for $42,000D. debit Investment in Bonds for $40,000, debit Premium on Bonds for $2,000 and credit Interest Revenue $42,000
题目9单选题
If an investor owns less than 20% of the common stock of another company as a long-term investmentA. the equity method of accounting should be used for the investmentB. the investor has a controlling interest in the investeeC. the investor usually has little or no influence on the investeeD. the investor has significant influence on the investee
题目10单选题
For accounting purposes, the method used to account for long-term investments in common stock is determined byA. the size of the investorB. the size of the investor when compared to the size of the investeeC. vote by the Board of Directors of the investorD. the investor's percentage ownership of the investee's stock
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