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Can I have help with these homework questions?

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Homework 12
1.
Long term investments are investments that will be longer than
___________________(time frame).
2.
Long term investments can be categorized as a trading security.
True
False
3.
A long-term debt security can be accounted for using the Fair Market Value method.
True
False
4.
A long term equity security can be reported under the equity method if ownership is:
1%-20%
20%-50%
50%-100%
5.
A long term equity security can be reported under the Fair Market Value method if
ownership is:
1%-20%
20%-50%
50%-100%
6.
The equity method and the Fair Market value method for long term investments will
always have the same impact on the financial statements.
True
False
Jones company owns 25% of Curtain Company common stock.
The stock was purchased
for $450,000.
At the end of the year 12/31/X8, the stock has a market value of $550,000.
There
were no prior investments.
A total cash dividend of $60,000 was declared and paid by Curtain
Company
in December 20X8 of which Jones received 25%.
For the year ended 12-31-x8,
Curtain declared a total net income of $750,000.
Do the following journal entries for Jones Company Books:
7.
Given the information above, assume that the Jones company uses the
Fair Market
value method
to account for the investment.
What journal entry is needed on Jones books for
the cash
dividend received
?
8.
Given the information above, assume that the Jones company uses the
Fair Market
value method
to account for the investment.
What journal entry is needed on Jones books at
year-end to account for the
market adjustment
?
.

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9.
Given the information above, assume that the Jones company uses the E
quity method
to
account for the investment.
What journal entry is needed on Jones Books when the cash
dividend is received
?
10.
Given the information above, assume that the Jones company uses the
EQUITY method
to account for the investment.
What journal entry is needed on Jones Books at year end for the
net income declared
by the Curtain Company?

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