financial accounting章节测试课后答案2024春

第八章测试

1.The Ashley Corporation purchased $600,000 of 4%, 5-year bonds at 97 on January 1, 2014. Interest is to be paid semiannually on January 1 and July 1.  This is a held-to-maturity investment.  This company uses the straight-line method to amortize any premiums or discounts. What was the purchase price of these bonds?（ ）A.$600,000    
A:  $600,000 B:  $540,000   C:$582,000   D:$618,000
答案:C
2.Refer to Question 1. What is the amount of Interest Revenue recorded on July 1, 2014?（ ）
A:$13,800 B:$12,000 C:$24,000 D:$10,200 3.Refer to Question 1. What is the carrying amount of the bond on July 1, 2014?（ ）
A:$580,200 B:$583,800 C:$582,000 D:$600,000 4.Which statement regarding “available-for-sale investments” is true?    （ ）        
A:Available for sale investments generally comprise up to 20%, but not including 20%, ownership.     B:Both Available for sale investments generally comprise up to 20%, but not including 20%, ownership and If the business plans to sell the investments within a year, they are classified as long-term investments are true.     C:If the business plans to sell the investments within a year, they are classified as long-term investments. D:Both Available for sale investments generally comprise up to 20%, but not including 20%, ownership and If the business plans to sell the investments within a year, they are classified as long-term investments are not true.     5.When an available for sale investment is sold:（ ）
A:a realized gain or loss cannot be recorded.     B:the amount of the realized gain or loss is the difference between the amount received and the cost of the investment.     C:other three choices  occur. D:a realized gain or loss is reported as an expense on the Income Statement.     6.Which of the following is true regarding equity-method investments?（ ）        
A:That gain or loss on the sale of an equity-method investment is the difference between the sale proceeds and the carrying amount of the investment  is not  true and  that the account Equity-method Investment is decreased for the receipt of a dividend on an equity-method investment is not  true.    B:That gain or loss on the sale of an equity-method investment is the difference between the sale proceeds and the carrying amount of the investment  is true and  that the account Equity-method Investment is decreased for the receipt of a dividend on an equity-method investment is  true.        C:Gain or loss on the sale of an equity-method investment is the difference between the sale proceeds and the carrying amount of the investment.     D:The account Equity-method Investment is decreased for the receipt of a dividend on an equity-method investment.     7.Under the equity method, when an investor company records its share of investee income,（ ）
A:the investor company will debit Cash for their share of the income. B:"the following entry is used to record the revenue:Equity-Method Investment XXEquity-Method Investment Revenue XX" C:a memo entry is used to record the revenue. D:the entry to record the revenue is:Equity-Method Investment Revenue XXEquity-Method Investment XX" 8.Which of the following is/are eliminated in the preparation of a consolidated balance sheet?（ ）
A:Stockholders’ equity of the subsidiary B:Investment account C:Intercompany receivables and payables D:select other three  choices all   9.On the purchase date, long-term available-for-sale equity securities are reported on the balance sheet at:（ ）
A:amortized cost B:the lower-of-cost-or-market. C:cost D:fair value 10.The Unrealized Gain on Investment in Available-for-Sale Securities is reported in:（ ）
A:Other Comprehensive Income on the Statement of Comprehensive Income   and Accumulated Other Comprehensive Income on the balance sheet B:Other Revenues and Gains on the income statement.   C:Accumulated Other Comprehensive Income on the balance sheet     D:Other Comprehensive Income on the Statement of Comprehensive Income