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Which of the following would appear on a consolidated balance sheet

Which of the following would appear on a consolidated balance sheet?

 

a.

The stockholders' equity of the parent

b.

An amount owed by the subsidiary to the parent

c.

The stockholders' equity of the subsidiary

d.

The Investment in Subsidiary account

 

 

 

141.An elimination entry within the work sheet used for preparing a consolidated income statement could not contain

 

a.

a credit to Sales.

b.

a debit to Interest Revenue.

c.

a credit to Interest Expense.

d.

a credit to Cost of Goods Sold.

 

 

 

142.A short-term investment in a U.S. Treasury bill costs $24,400 and will mature six months later at $25,000. Management intends to hold the investment until it matures. The entry to record the initial investment includes a

 

a.

debit to Short-Term Investments for $25,000.

b.

debit to Short-Term Investments for $24,400.

c.

credit to Interest Income for $600.

d.

debit to Cash for $24,400.

 

 

 

143.A short-term investment in a U.S. Treasury bill costs $24,200 and will mature in six months at $25,000. Management intends to hold the investment until it matures. The entry to record receipt of cash at maturity includes a

 

a.

credit to Interest Income for $800.

b.

credit to Short-Term Investments for $25,000.

c.

debit to Cash for $24,200.

d.

credit to Gain on Sale of Investments for $800.

 

 

 

 

 

144.Held-to-maturity securities are valued on the balance sheet at

 

a.

fair value.

b.

original cost.

c.

cost, adjusted for the effects of interest.

d.

maturity value.

 

 

 

145.When the accounting period ends before U.S. Treasury bills are scheduled to mature, the investor's adjusting entry would include a

 

a.

debit to Interest Income.

b.

debit to Short-Term Investments.

c.

credit to Interest Payable.

d.

debit to Cash.

 

 

 

146.Available-for-sale debt securities are valued on the balance sheet at

 

a.

original cost.

b.

fair value.

c.

cost, adjusted for the effects of interest.

d.

maturity value.

 

 

 

Dec 11 2019 View more View Less

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