MC Qu. 78 Barnes Company purchased...

Barnes Company purchased $90,000 of 9.0% bonds at par. The bonds mature in six years and are a held-to-maturity security. Which of the following is the correct journal entry to record the receipt of the semiannual interest payment?

Multiple Choice

-debit Cash, $4,050; credit Interest Revenue, $4,050.

-debt Cash, $4,050; credit Long-Term InvestmentsHTM, $4,050.

-debit Unrealized Gain-Equity, $4,050; credit Cash, $4,050.

-debit Cash, $8,100; credit Long-Term InvestmentsHTM, $8,100.

-debit Cash, $8,100; credit Unrealized Gain-Equity, $8,100.

MC Qu. 120 Segmental Manufacturing owns...

Segmental Manufacturing owns 35% of Glesson Corp. stock. Glesson pays a total of $47,000 in cash dividends for the period. Segmental's entry to record the dividend transaction would include a:

Multiple Choice

-Credit to Investment Revenue for $47,000.

-Debit to Cash for $47,000.

-Debit to Long-Term Investments for $16,450.

-Credit to Long-Term Investments for $16,450.

-Credit to Cash for $16,450.

MC Qu. 101 A company had a profit margin...

A company had a profit margin of 10.60% and total asset turnover of 1.81. Its return on total assets was:

Multiple Choice

-12.41%

-19.19%

-5.86%

-13.33%

-8.79%