125.Which of the following is not a method of accounting for stock investments?a.Cost method.b.Stock method.c.Consolidated financial statements.d.Equity method.Ans: B, LO: 2, Bloom: K, Difficulty: Easy, Min: 1, AACSB: None, AICPA BB: Legal/Regulatory Perspective, AICPA FC: Reporting, AICPA PC: None, IMA:Investment DecisionsH-29
126.In order to use the cost method of accounting for stock investments, how much stockmust the investor own?
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127.Assume that Oslo Corp. acquires 30% of Celdon Corp. for $360,000 on January 1, 2022.If Celdon declares and pays $120,000 in total dividends on February 14th, the journalentry would include a credit to
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128.Assume that Oslo Corp. acquires 30% of Celdon Corp. for $360,000 on January 1, 2022.The journal entry on Oslo’s books assuming Celdon’s net income for 2022 was $600,000would include a debit to
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