QUESTION 56 Indicate how the following will be classified on the Balance Sheet Zip Inc common stock representing a 60% ownership. Choose from the following classifications: A Cash and Cash equivalents B. Trading Security C. Available for Sale D. Held to Maturity E Equity Securities - No Influence F. Equity Method - Significant Influence G Consolidation - Legal Control O Consolidation - Legal control O Equity method - Significant influence Available for sale Equity Securities - No Influence (Equity) QUESTION 55 Indicate how the following will be classified on the Balance Sheet. $1,000,000 of XYZ Company bonds to be sold in 120 days. Choose from the following classifications: A Cash and Cash equivalents B Trading Security C Available for Sale D Held to Maturity E Equity Securities - No Influence F Equity Method - Significant Influence G Consolidation - Legal Control O Cash and cash equivalent O Trading security Equity Securities - No Influence (Equity) Available for sale QUESTION 54 Indicate how the following will be classified on the Balance Sheet: XYZ Corp. Preferred stock. The company plans to sell the stock on the open market in three me Choose from the following classifications: A Cash and Cash equivalents B Trading Security C Available for Sale D. Held to Maturity E. Equity Securities - No Influence F. Equity Method - Significant Influence G Consolidation - Legal Control O Trading Securities Equity Method - Significant influence (Equity) O Cash and cash equivalent Equity Securities No influence