ther the earnings nor the dividends of the investee. Question 6 2 pts Held to maturity securities C are reported at fair market value Dinclude stocks as well as bonds Dmay be reported as current or noncurrent assets all of the above Question 7 2 pts 1. 2014. Stanton Company purchased 60 000 of Harris Companys 12% on Ma D Question 7 2 pts On May 1, 2014, Stanton Company purchased $60,000 of Harris Company's 12% bonds at 100 plus accrued interest of $2.400. On June 30, 2014, Stanton received its first semiannual interest. On February 1. 2015, Stanton sold $50,000 of the bonds at 103 plus accrued interest The journal entry Stanton will record on June 30, 2014. will include: @ a credit to Interest Revenue for $2.400 @ a debit to Cash for $3.600. a credit to Cash for $2.400 ia credit to Interest Receivable for $1 200. 2 pts Question 8 O a credit to Cash for $2,400. O a credit to Interest Receivable for $1,200 D Question 8 2 pts Investment in certificates of deposit and other securities that do not change in value are reported in the balance sheet as: e equity investments available-for-sale securities cash and cash equivalents held to maturity securities 2 pts Question 9 held to maturity securities D Question 9 2 pts Financial statements in which financial data for two or more companies are combined as a single entity are called e conventional statements @consolidated statements audited statements constitutional statements 2 pts ED | Question 10 O constitutional statements D Question 10 2 pts Purchased $400,000 of ABC Co. 5% bonds at 100 plus accrued interest of $4,500. Sold $250,000 of bonds at 97. The journal entry for the purchase would include: O a credit to Interest Receivable for $4,500 a credit to Interest Revenue for $4.500 a debit to Intcrest Receivable for $4,500 a debit to Interest Revenue for $4,500 D Question 11 2 pts O a debit to Interest Receivable for $4,500 O a debit to Interest Revenue for $4,500 D | Question 11 2 pts All of the following are factors contributing to the trend for regulators to adopt accounting principles using fair value concepts except: a greater percentage of total assets existing as receivables and securities O pressure on regulators to adopt an internationa set of accounting principles and standards hybrid measurement methods within GAAP that conflict with each other. the ease of applying market values to assets and liablities D Question 12 2 pts Which one of the following items below would not affect the investor's income for the period? interest received on a temporary investment in bonds dividends received on a long-term investment in stock where the investor owns 10% of the investee's stock dividends received on a long-term investment in stock where the investor owns 30% of the investee's stock @ interest received on a long-term investment in bonds 2 pts Question 13 fin investment in 100 shares of Saxton Company's common