[单选题]
Sun Corp. had investments in marketable equity securities costing USD650,000. On June 30, Year 2, Sun decided to hold the investments indefinitely and accordingly reclassified them from trading to available-for-sale on that date. The investments' market value was USD575,000 at December 31, Year 1, USD530,000 at June 30, Year 2, and USD490,000 at December 31, Year 2.What amount of loss from investments should Sun report in its Year 2 income statement?
A .USD85,000
B .USD160,000
C .USD120,000
D .USD45,000
参考答案(由小熊题库网聘请的专业题库老师提供的解答)
请点击↑↑↑ 查看官方参考答案 按钮
习题解析
请点击 查看官方参考答案 按钮
您可能感兴趣的题目
1 .下列各项中，不应当征收房产税的有（ ）。
A 经营性单位从房地产开发企业购入的办公用商品房 B 个人非营业用房产 C 邮政部门坐落在城市 D 农村的经营性用房
题型:
多选题
提问时间:
2021-08-24
2 .Kale Co. purchased bonds at a discount on the open market as an investment and intends to hold these bonds to maturity. Kale should account for these bonds at:
A Lower of cost or market. B Cost. C Fair value. D Amortized cost.
题型:
单选题
提问时间:
2021-08-24
3 .下列不属于城建税和教育费附加计税依据的有（ ）。
A 某生产企业出口货物确认的免抵退税额 B 查补的“三税” C 享受税收优惠而减免的“三税” D 货物进口时征收的增值税
题型:
多选题
提问时间:
2021-08-24
4 .On July 2, Year 1, Wynn, Inc., purchased as an available-for-sale security a USD1,000,000 face value Kean Co. 8% bond for USD910,000 plus accrued interest to yield 10%. The bonds mature on January 1, Year 7, and pay interest annually on January 1. On December 31, Year 1, the bonds had a market value of USD945,000. On February 13, Year 2, Wynn sold the bonds for USD920,000. In its December 31, Year 1, balance sheet, what amount should Wynn report for available-for-sale investments in debt securities?
A USD910,000 B USD920,000 C USD945,000 D USD950,000
题型:
单选题
提问时间:
2021-08-24
5 .Beach Co. determined that the decline in the fair value (FV) of an investment was below the amortized cost and other than temporary. The investment was classified as available-for-sale on Beach's books. The controller would properly record the decrease in FV under U.S. GAAP by including it in which of the following?
A Earnings section of the income statement and writing down the cost basis to FV. B Extraordinary items section of the income statement, net of tax, and writing down the cost basis to FV. C Other comprehensive income section of the income statement only. D Other comprehensive income section of the i...
题型:
单选题
提问时间:
2021-08-24
7 .Penn, Inc., a manufacturing company, owns 75% of the common stock of Sell, Inc., an investment company. Sell owns 60% of the common stock of Vane, Inc., an insurance company. In Penn's consolidated financial statements, should consolidation accounting or equity method accounting be used for Sell and Vane?
A Consolidation used for both Sell and Vane. B Equity method used for Sell and consolidation used for Vane. C Equity method used for both Sell and Vane. D Consolidation used for Sell and equity method used for Vane.
题型:
单选题
提问时间:
2021-08-24
8 .On January 2 of the current year, Peace Co. paid USD310,000 to purchase 75% of the voting shares of Surge Co. Peace reported retained earnings of USD80,000, and Surge reported contributed capital of USD300,000 and retained earnings of USD100,000. The purchase differential was attributed to depreciable assets with a remaining useful life of 10 years. Peace used the equity method in accounting for its investment in Surge. Surge reported net income of USD20,000 and paid dividends of USD8,000 during the current year. Peace reported income, exclusive of its income from Surge, of USD30,000 and paid dividends of USD15,000 during the current year. What amount will Peace report as dividends declared and paid in its current year's consolidated statement of retained earnings?
A USD8,000 B USD23,000 C USD21,000 D USD15,000
题型:
单选题
提问时间:
2021-08-24
9 .On January 1, Year 1, Dallas, Inc. acquired 80% of Style, Inc.'s outstanding common stock for USD120,000. On that date, the carrying amounts of Style's assets and liabilities approximated their fair values. During Year 1, Style paid USD5,000 cash dividends to its stockholders. Summarized balance sheet information for the two companies follows:DallasStyle12/31/Year 112/31/Year 11/1/Year 1Investment in Style (equity method)USD132,000Other assets138,000USD115,000USD100,000USD270,000USD115,000USD100,000Common stockUSD50,000USD20,000USD20,000Additional paid-in capital80,25044,00044,000Retained earnings139,75051,00036,000USD270,000USD115,000USD100,000What amount should Dallas report as its share of the earnings from subsidiary, in its Year 1 income statement?
A USD20,000 B USD12,000 C USD16,000 D USD15,000
题型:
单选题
提问时间:
2021-08-24
10 .On January 1, Year 1, Dallas, Inc. acquired 80% of Style, Inc.'s outstanding common stock for USD120,000. On that date, the carrying amounts of Style's assets and liabilities approximated their fair values. During Year 1, Style paid USD5,000 cash dividends to its stockholders. Summarized balance sheet information for the two companies follows:DallasStyle12/31/Year 112/31/Year 11/1/Year 1Investment in Style (equity method)USD132,000Other assets138,000USD115,000USD100,000USD270,000USD115,000USD100,000Common stockUSD50,000USD20,000USD20,000Additional paid-in capital80,25044,00044,000Retained earnings139,75051,00036,000USD270,000USD115,000USD100,000What amount of total stockholders' equity should be reported in Dallas' December 31, Year 1, consolidated balance sheet?
A USD286,000 B USD303,000 C USD270,000 D USD385,000
题型:
单选题
提问时间:
2021-08-24
