16897655
Questão 1
Responda
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. investments of $110,850.
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unrealized loss of $19,750.
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investments of $91,100
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dividend revenue of $3,290
Questão 2
Responda
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gain on sale of investment of $19,900.
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. unrealized gain of $19,900.
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dividend revenue of $3,290
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investments of $89,050.
Questão 3
Questão
. Dividends received on an equity-method investment
Responda
-
increase the investment account
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increase dividend revenue.
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decrease the investment account.
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increase owners’ equity
Questão 4
Questão
The starting point in accounting for all investments is
Responda
-
equity value.
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cost.
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c. market value on the Balance-Sheet date.
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cost minus dividends.
Questão 5
Questão
Consolidation accounting
Responda
-
combines the accounts of the parent company and those of the subsidiary companies.
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eliminates all liabilities
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reports the receivables and payables of the parent company only
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all of the above.
Questão 6
Questão
On January 1, 20X0, Maxspace, Inc., purchased $100,000 face value of the 5% bonds
of Mail Frontier, Inc., at 107. The bonds mature on January 1, 20X5. For the year ended
December 31, 20X5, Maxspace received cash interest of
Responda
-
. $2,000
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$3,000.
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$4,000
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$5,000
Questão 7
Questão
Return to Maxspace, Inc.’s bond investment in the preceding question. For the year
ended December 31, 20X3, Maxspace received cash interest of $5,000. What was the interest
revenue that Maxspace earned in this period?
Responda
-
$5,000
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$3,600
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$7,000
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$2,000
Questão 8
Questão
Providence Systems purchased inventory on account from Megasonic. The price was
¥80,000, and a yen was quoted at $0.0088. Providence paid the debt in yen a month later, when
the price of a yen was $0.0093. Providence
Responda
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debited Inventory for $744
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recorded a Foreign Currency Transaction Gain of $40.
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. debited Inventory for $704.
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none of the above.
Questão 9
Questão
One way to prevent a foreign currency transaction loss is to
Responda
-
. offset foreign currency inventory and PPE.
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pay debts as late as possible.
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pay in the foreign currency.
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collect in your currency.
Questão 10
Questão
Foreign currency transaction gains and losses are reported on the
Responda
-
. consolidation worksheet.
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Income Statement.
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statement of cash flows
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. Balance Sheet.
Questão 11
Questão
Consolidation of a foreign subsidiary usually results in a
Responda
-
gain or loss on consolidation.
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foreign currency translation adjustment.
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foreign currency transaction gain or loss.
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LIFO/FIFO difference.
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