题目内容

Unrealized gains and losses from long-term available-for-sale investments arise from:

A.the purchase of an investment.
B.the sale of the investment.
C.changes in the fair value of the investment.
D.investor's share of investee's net income or net loss.

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Long-term investments include:

A.stocks and bonds.
B.securities that the investor expects to hold longer than one year.
C.securities reported in the noncurrent asset section of the balance sheet.
D.all of the above.

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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 sheet.

A.fair value
B.historical cost
C.lower of cost or market
D.amortized cost

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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 is:

A.debit Cash $3,000 and credit Interest Revenue $3,000.
B.debit Cash $6,000 and credit Interest Revenue $6,000.
C.debit to Interest Receivable $3,000, debit Held-to-Maturity Investment in Bonds for $500 and credit Interest Revenue $3,500.
D.debit to Interest Receivable $6,000 and credit Interest Revenue $6,000.

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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 is:

A.debit Held-to-Maturity Investment in Bonds for $40,000, debit Premium on Bonds for $2,000 and credit Cash for $42,000.
B.debit Held-to-Maturity Investment in Bonds for $42,000 and credit Cash for $42,000.
C.debit Investment in Bonds for $42,000 and credit Interest Revenue for $42,000.
D.debit Investment in Bonds for $40,000, debit Premium on Bonds for $2,000 and credit Interest Revenue $42,000.

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Unrealized gains and losses from long-term available-for-sale investments arise from:

A.the purchase of an investment. B.the sale of the investment. C.changes in the fair value of the investment. D.investor's share of investee's net income or net loss.

Long-term investments include:

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 sheet.

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 is:

A.the purchase of an investment.
B.the sale of the investment.
C.changes in the fair value of the investment.
D.investor's share of investee's net income or net loss.