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1 Normal uue HdUCCL 1 No Spac... Heading 1 Heading 2 Paragraph Styles Question 14 5 points Sant Anter BMCC Co. purchased an available for sale debt security on December 1 of the current year for $40,000. The market value of the stock investment at year-end is $34.000. What value will be reported in the income statement for the adjustment, if any? A 34.000 O B. 6,000 loss C 6,000 gain D. 40,000 E. None of the above Moving to the next question prevents changes to this answer Question 14 of 20 Moving to the next question prevents changes to this answer Question 15 of 20 Question 15 5 points Company purchased equipment for 100.000 on 1/1/2020. The depreciation expense on the equipment was 10,000 for 2020 and 10,000 for 2021 and 10000 for 2022. The residual value of the equipment is 10.0007 AT 12/31/2022 what is the book value of the equipment? A 100.000 B. 90,000 O C. 80,000 D. 70.000 E. None of the above Moving to the next question prevents changes to this answer. Question 15 of 20 > Moving to the next question prevents changes to this answer Question 16 Question 16 An Investment in debt securities in which the investor intends to sell in the very near future with the intent of generating profit on a quick sale is assified as O A Trading debt securities B. Held-to-maturity (TM) debt investments C. Available for sale (AFS) debt investments D. Significant influence equity Investments E. None of the above Moving to the next question prevents changes to this answer. Question 16 of Moving to the next question prevents changes to this answer. Question 17 of 20 estion 17 Spoints Save Answer An investment in equity securities in which the investor holds less than 20% of the investee's voting stock and in which the investor lacks the ability to participate in the decisions of the investee company is classified as A Trading debt investments B. Held-to-maturity HTM) debt investments C. Available for sale (AFS) debt investments OD. No significant influence equity investments E. None of the above & Moving to the next question prevents changes to this answer. Moving to the next question prevents changes to this answer. Question 17 of 20 Question 18 of 20 uestion 18 5 points Save Awer estment in equity secunties in which the investor owns 20% to SON of the investee's voting stock and in which the investor has the ability to exert influence over operating and financial decisions of the investing company is cessed as O A Significant influence equity investments 8. Trading debt investments C. Held-to-maturity (TM) investments D. Available-for-sale (AFS) investments E. None of the above Question 19 of 20 Question 19 5 points Swed Company purchased equipment for 110.000 on 1/1/2020. The equipment has a useful life of 4 years and a residual value of 10.000 Ung the double decining balance method of depreciation what is the amount of depreciation expense for 20207 O A 55,000 B. 50.000 27.500 D. 25.000 C. None of the above > Moving to the next gestion events chances to this answer Click Submit to complete this assessment. in 19 Question 20 of 20 Question 20 Which method of computing depreciation expense results in the same amount of depreciation each year? O A Straight line B. Double-dedining balance Units of production Sum of years digits None of the above Click Submit to complete this assessment Question 20 of 20 > Moving to the next question prevent changes to this answer Question 2 of 20 Moving to the next question prevents changes to this answer Question 3 of 20 Question 3 points of the voting stock of Gibbs Co.If the Gibbs Costock investment paid dividends, what account would be credited A company invested 540,000 inos Costock The investment represented A quity Investments B. Interest Revenue O Dividend Revenue D. Cash E. None of the above Movine in the new sinn en chans to this an nacin Moving to the next question prevents changes to this answer. Question 5 of 20 Question 5 5 points Saved Company purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was 10.000 for 2020 and 10.000 for 2021. The residual value of the equipment is 10,000. At 12/31/2021 what is the book value of the equipment? A 100,000 B. 90.000 OC 80,000 D. 70,000 SE. None of the above