Multiple Choice
Green Services,Inc.invests its excess cash in Creative Technologies,Inc.and acquires 1,000 shares for $53.75 per share.Green Services,Inc.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 is debited for $53,750
B) Long-term Investments-Held-to-Maturity is debited for $53,750
C) Long-term Investments-Trading Investments is credited for $53,750
D) Long-term Investments-Significant Interest Investments is debited for $53,750
Correct Answer:
Verified
Correct Answer:
Verified
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