Matching

Indicate (by letter) the way each of the investments listed below most likely should be accounted for based on the information provided. Choose from the following categories; T. Trading Security, M. Security held-to-maturity, A. Security available-for-sale, E. Equity method, C. Consolidation, or N. None of these

_____Treasury bond maturing in one week

_____Common stock held in trading account for immediate resale

_____Bonds acquired to profit from short-term differences in price

_____35% of the voting common stock of 3M

Indicate (by letter) the way each of the items listed below should be recorded on the balance sheet at December 31, 2014. Choose from the following categories; N. Not reported, C. current liability, L. Long-term liability, D. Disclosure note only, A. Asset.

_____Note payable due April 15, 2019

_____Long-term bonds callable by the creditor in the upcoming year that are not expected to be called

_____Unasserted assessment of back taxes with a reasonable possibility of being asserted, in which case there will probably be a loss in 13 months.

_____Interest accrued on note, December 31, 2014