... T-Mobile Wi-Fi 2:42 PM 1092% Done 15 of 15 10) Prior period adjustments A) affect balance sheet accounts only, and must be included on single-step income statement B) must be included as a separate line item on a multi-step income statement always increase the beginning balance of retained earnings D) are shown on the statement of retained earnings as corrections to the beginning balance. 11) A bond is issued at premium : A) when a bond's stated interest rate is higher than the market interest rate B) when a bond's stated interest rate is equal to the market interest rate C) when a bond's stated interest rate is less than the market interest rate. D) when a bond's stated interest rate is less than the effective interest rate. 12) All available-for-sale (AFS) investments are reported on the balance sheet at A) historical cost. B) current market value. replacement cost. D) net realizable value. 13) Glitter Services owns 30% of voting stock of Grey Investments. During the year 2015, Grey Investments eamed profits of $250,000. Under the equity method, which of the following journal entries will Glitter Services record? A) Long-term Investments-Grey Investments Revenue from Investments B) Long-term Investments Grey Investments 2507000 250,000 Cash 75.000 Long-term Investments-Grey Investments 75,000 D) Cash 75.000 1 730001 Dividend Reven