Can someone help me with these questions please? What are the answers to them?
QUESTION 19 1 points A company owns $400 000 of 7 % bands that pay interest on October 1 and April 1 . The amount of interest accrued on December 31 ( the company's year -end ) would be $4 6 67 0 57 000 $28 000 $14000 $9 333QUESTION 6 1 points On January 2 2014 , Palmer Corp . paid $500 000 cash to acquire 400,000 shares of stock in Prescott Corp . These shares represent 40% of Prescott's total outstanding stock How would Palmer record this transaction using the equity method ? Debit Cash for $500 000 and credit Long - Term Investments - Prescott for $500 000 Debit Long Term Investments Prescott for $500 000 and credit Cash for $500 000 Debit Long Term Investments - AFS ( Prescott ) for $500, 000 and credit Cash to 8500 000 Debit Cash for $500 000 and credit Long - Term Investments - AFS ( Prescott for $500.000 Debit Short -Term Investments - AFS ( Prescott ) for $500,000 and credit Cash for $500 000QUESTION 3 On January 1, 2011, Posten Company purchased 10,000 shares of Toma Company for $78,000 plus a broker's fee of $2,000. Toma Company has a total of 40,000 shares of common stock outstanding and it is presumed the Posten Company will have a significant influence over Toma. Toma declared and paid cash dividends of $0.93 per share in 2011 and 2012. Toma's net income was $190,000 and $270,000 for 2011 and 2012 respectively. The January 1, 2013, entry on the books of Posten Company to record the sale of 4,500 shares of Toma Company stock for $85,000 cash should be: O Cash ..... 85,000 Loss on Sale of Investments ... 110,000 Long-Term Investments 195,000 O Cash ... . Gain on Sale of Investments 35,000 57,370 Long-Term Investment 27,630 O Cash .. . .. 85,000.00 Gain on Sale of Investments .. 76,195.75 Long-Term Investments 8,804.25 O Cash .. . 85,000 Gain on Sale of Investments. 5,620 Long-Term Investment 79,380 O Cash ... . 85,000 Gain on Sale of Investments ... 5,000 Long-Term Investments.. 80,000QUESTION 16 1 point On September 13 2013 , MTA Corp acquired 50 shares of Vista , Inc . for $100 per share as a long-term available - for sale security At December 31 2013 , the Vista shares had a fair value of $105 per share and MTA recorded the required adjusting entry to record the fair value of the Vista investment At December 31 2104 , the Vista shares had a fair value of $102 per share How would the company record the adjustment to fair value ? Debit Fair Value Adjustment - Available for Sale ( LT ) for $250 and credit Unrealized Gain- Equity for $250 Debit Fair Value Adjustment - Available for Sale ( LT ) for $100 and credit Unrealized Gain- Equity for $100 Debit Unrealized Gain - Equity for $300 and credit Fair Value Adjustment Available for Sale ( LT ) for $300 . Debit Unrealized Gain- Income for $150 and credit Fair Value Adjustment Available- for - Sale ( LT ) for $150 Debit Unrealized Gain- Equity for $150 and credit Fair Value Adjustment Available - for - Sale ( LT ) for $150QUESTION ? Equity securities are Recorded at cost to acquire them plus accrued interest Recorded at cost to acquire them plus dividends earned Recorded at cost to acquire them Not recorded until dividends are received Not recorded until interest is received