= = Tulsa safeIII Question 4 At the beginning of the year, loan Steel, Inc. purchased 10,000 shares of Smith Metals, Inc. for $34,000 in exchange for cash and now holds 3.2% of the voting stock of Smith Metals, Inc. The management of Joan Steel intends to hold this stock for two years. Assumine no other transaction happened during the year, the in the balance sheet will increase total assets long-term investments cash current assets Od Question 5 Beige Corporation pays $516,000 to acquire 42% of the equity securities of Olive Technologies, Inc. on May 5, 2017 in the journal entry to record this transaction O ob Long term investments-Olive Technologies, Inc. will be debited for $16.000 Long term investments Available for Sale will be debited for $516.000 Long term investments Trading investments will be debited for 5516.000 long-term investments Available for sale will be credited for $516.000 O d Question 6 Green Services in own less than 1 transaction invests its excess cash in Creative Technologies, Inc. and acquires 1.000 shares for $53. per share Green Services of Creative's voting stock and plans to hold the stock for two years. While preparing the journal entry to record 1.750 O Ob Long term investments - Significant interest investments is debited for ong term investments --Trading investments is credited for $51.750 Long term investments-Held to Maturity is debited for 552750 long term investments Avatable for sale is debited for 552.750 O d