MC Qu. 120 Segmental Manufacturing owns... Segmental Manufacturing owns 34% of Glesson Corp. stock. Glesson...
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MC Qu. 120 Segmental Manufacturing owns...
Segmental Manufacturing owns 34% of Glesson Corp. stock. Glesson pays a total of $52,500 in cash dividends for the period. Segmental's entry to record the dividend transaction would include a:
Multiple Choice
-Credit to Long-Term Investments for $17,850.
-Debit to Long-Term Investments for $17,850.
-Credit to Investment Revenue for $52,500.
-Debit to Cash for $52,500.
-Credit to Cash for $17,850.
MC Qu. 131 On June 18, Wyman Company...
On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for 81,000 (Euros), with a payment due in 60 days. If the exchange rate was $1.56 per euro on the date of sale and $1.35 per euro on the date of payment, Wyman Company should recognize a foreign exchange gain or loss in the amount of:
Multiple Choice
-$17,010 loss.
-$17,010 gain.
-$81,000 loss.
-$109,350 loss.
-$81,000 gain.
MC Qu. 71 A company has an investment...
A company has an investment in 8% bonds with a par value of $174,000 that pay interest on October 1 and April 1. The amount of interest accrued on December 31 (the company's year-end) would be:
Multiple Choice
-$1,160.
-$2,320.
-$3,480.
-$6,960.
-$13,920.
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