Green Services, Inc invests its excess cash in Creative Technologies, Inc and acquires 6,000 shares for $61
75 per share. Green Services, Inc owns less than 2% of Creative's voting stock and plans to hold the stock for two years. While preparing the journal entry to record this transaction, ________.
A) Long-term Investments-Available-for-Sale is debited for $370,500
B) Long-term Investments-Held-to-Maturity is debited for $370,500
C) Long-term Investments-Trading Investments is credited for $370,500
D) Long-term Investments-Significant Interest Investments is debited for $370,500
A
You might also like to view...
Which law imposes controls on federal agencies by requiring basic fairness in areas not regulated by enabling legislation?
A. The 1964 Civil Rights Act. B. The Clean Agency Act. C. The Administrative Procedure Act. D. The Freedom of Information Act.
Distractions or other things that interfere with our attempts to communicate are known as ______.
a. noise b. feedback c. distractors d. metaphors
Perry Company has a tax rate of 30 percent and is considering a capital project that will make the following annual contribution to operating income before income taxes: Cash revenues $250,000 Cash expenses (150,000) Depreciation (75,000) Operating income before income taxes $25,000 The impact of income taxes on net cash flows will be
A) $(7,500). B) $(22,500). C) $(45,000). D) $(75,000).
In terms of the infancy doctrine, which of the following is true?
A. A minor must honor a contract he or she entered into with an adult if the minor had sufficient mental capacity when the contract was formed. B. A minor can disaffirm a contract he or she entered into with an adult. C. A minor cannot enter into a legal contract with another minor. D. A minor cannot elect to enforce a contract he or she has entered into with an adult.