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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Beige Corporation pays $536,000 to acquire 40% of the equity securities of Olive Technologies, Inc. on May 5, 2017.  In the journal entry to record this transaction ________.
A) Long-term InvestmentsAvailable-for-Sale will be debited for $536,000
B) Long-term InvestmentsAvailable-for-Sale will be credited for $536,000
C) Long-term InvestmentsOlive Technologies, Inc. will be debited for $536,000
D) Long-term InvestmentsTrading Investments will be debited for $536,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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