题目内容

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 is:

A.debit Cash $3,000 and credit Interest Revenue $3,000.
B.debit Cash $1,500 and credit Interest Revenue for $1,500.
C.debit Cash $1,500 and credit Interest Receivable for $3,000.
D.debit Cash $3,000 and credit Interest Receivable for $3,000.

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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 as:

A.a current asset.
B.a long-term asset.
C.stockholders' equity.
D.a cash equivalent.

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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.

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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, 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 is:

A.debit Cash $3,000 and credit Interest Revenue $3,000. B.debit Cash $1,500 and credit Interest Revenue for $1,500. C.debit Cash $1,500 and credit Interest Receivable for $3,000. D.debit Cash $3,000 and credit Interest Receivable for $3,000.

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 as:

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

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.

A.debit Cash $3,000 and credit Interest Revenue $3,000.
B.debit Cash $1,500 and credit Interest Revenue for $1,500.
C.debit Cash $1,500 and credit Interest Receivable for $3,000.
D.debit Cash $3,000 and credit Interest Receivable for $3,000.