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
Correct Answer:
Verified
Q46: Debra Technologies invested $50,000 to buy $50,000
Q56: When a company invests in a long-term
Q57: Accruex Corporation has excess cash of $25,000
Q62: Green Services Inc.invests its excess cash in
Q65: Green Services Inc.invests its excess cash in
Q66: Aurum Services Inc.acquired 100,000 shares of Gamma
Q66: Equity securities in which the investor owns
Q68: Gray Financial Services Inc.invested $15,000 to acquire
Q80: When a company receives a cash dividend
Q130: Consolidation accounting is the way to combine
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents