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Aurum Services Inc

Question 63

Multiple Choice

Aurum Services Inc.acquired 100,000 shares of Gamma Metals Inc.on January 1,2015.Gamma pays a cash dividend of $0.25 per share on March 2,2015.With the current investment,Aurum Services Inc.holds 8% of Gamma.In the journal entry on March 2,2015,________.


A) Long-term Investments-Available-for-Sale will be credited
B) Dividend Revenue will be credited
C) Long-term Investments-Held-to-Maturity will be debited
D) Long-term Investments-Available-for-Sale will be debited

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