Multiple Choice
Green Services invests its excess cash in Creative Technologies and acquires 1,000 shares for $53.25. Green Services owns less than 1% of Creative's voting stock and plans to hold the stock for two years. While preparing the journal entry to record this transaction:
A) Long-term Investments-Available-for-Sale will be debited for $53,250.
B) Long-term Investments-Held-to-Maturity will be debited for $53,250.
C) Long-term Investments-Trading Investments will be credited for $53,250.
D) Long-term Investments-Significant Interest Investments will be debited for $53,250.
Correct Answer:
Verified
Correct Answer:
Verified
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