Hedron Corp.invested cash in a 6-month certificate of deposit (CD) on November 1,2014.If Hedron Corp.has an accounting period that ends on December 31,2014,when should Hedron recognize interest revenue from the CD?
A) On December 31,2014 only
B) On May 1,2013 only
C) Both December 31,2014 and May 31,2013
D) On the date when its income tax return is filed
Correct Answer:
Verified
Q1: The use of the allowance method is
Q61: Meta Inc.pays $18,000 to buy stock in
Q71: On July 1,2014,Tipper Corp.purchased $100,000 of 8%
Q72: Tippi Corp.invested cash in a 9-month certificate
Q73: On February 1,2014,Shine Corp.pays $50,000 for shares
Q102: What are the effects on the accounting
Q102: Why do businesses invest in short-term investments?
A)
Q103: Wagner's Bookstore acquires a 6%,$12,000 certificate of
Q104: The equity method of accounting for an
Q112: When a note receivable has been discounted
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