TEST BANK FOR FOR UNDERSTANDING ICD¬- 10- CM AND ICD-10-PCS UPDATE A WORKTEXT, 3RD EDITION, MARY JO BOWIE
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TEST BANK FOR FOR UNDERSTANDING ICD¬- 10- CM AND ICD-10-PCS UPDATE A WORKTEXT, 3RD EDITION, MARY JO BOWIETEST BANK FOR FOR UNDERSTANDING ICD¬- 10- CM AND ICD-10-PCS UPDATE A WORKTEXT, 3RD EDITION, MARY JO BOWIETEST BANK FOR FOR UNDERSTANDING ICD¬- 10- CM AND ICD-10-PCS UPDATE A WORKTEXT, 3RD EDI...
TEST BANK FOR FOR
UNDERSTANDING ICD- 10- CM
AND ICD-10-PCS UPDATE A
WORKTEXT, 3RD EDITION, MARY
JO BOWIE
,Student name:__________
1) For each of the following numbered situations below, select the best letter answer
concerning accounting for investments:(A) Increase the investment account.(B) Decrease the
investment account.(C) Increase dividend revenue.(D) No adjustment necessary.(1.) Income
reported by 40% owned investee.(2.) Income reported by 10% owned investee.(3.) Loss reported
by 40% owned investee.(4.) Loss reported by 10% investee.(5.) Change from fair-value method
to equity method. Prior income exceeded dividends.(6.) Change from fair-value method to equity
method. Prior income was less than dividends.(7.) Change from equity method to fair-value
method. Prior income exceeded dividends.(8.) Change from equity method to fair-value method.
Prior income was less than dividends.(9.) Dividends received from 40% investee.(10.) Dividends
received from 10% investee.(11.) Purchase of additional shares of investee.(12.) Investor’s share
of gross profit from intra-entity inventory sales when using the equity method.
,Question Details
Accessibility : Keyboard Navigation
AICPA : BB Critical Thinking
AICPA : FN Measurement
Learning Objective : 01-02 Describe in general the various methods of accounting for an investment in
Learning Objective : 01-03 Identify the sole criterion for applying the equity method of accounting a
Learning Objective : 01-04 Describe the financial reporting for equity method investments and prepare
Learning Objective : 01-06d Understand the financial reporting consequences for sales of equity metho
Learning Objective : 01-06a Understand the financial reporting consequences for a change to the equit
Bloom's : Analyze
Learning Objective : 01-07 Describe the rationale and computations to defer the investor's share of g
Gradable : manual
Difficulty : 3 Hard
AACSB : Analytical Thinking
Topic : Report Change to Equity Method
Topic : Report Sale of Equity Investment
Accessibility : Screen Reader Compatible
Topic : Accounting for Investments―Various Methods
Topic : Equity Method―Basic Journal Entries
Topic : Intra–Entity Sales of Inventory
Topic : Equity Method―Significant Influence Criterion
2) Jarmon Company owns twenty-three percent (23%) of the voting common stock of
Kaleski Corp. Jarmon does not have the ability to exercise significant influence over the
operations of Kaleski. What method should Jarmon use to account for its investment in Kaleski?
, Question Details
Accessibility : Keyboard Navigation
AICPA : BB Critical Thinking
AICPA : FN Measurement
Learning Objective : 01-02 Describe in general the various methods of accounting for an investment in
AACSB : Reflective Thinking
Learning Objective : 01-03 Identify the sole criterion for applying the equity method of accounting a
Bloom's : Understand
Gradable : manual
Difficulty : 2 Medium
AACSB : Communication
Accessibility : Screen Reader Compatible
Topic : Accounting for Investments―Various Methods
Topic : Equity Method―Significant Influence Criterion
3) Idler Co. has an investment in Cowl Corp. for which it uses the equity method. Cowl has
suffered large losses for several years, and the balance in the investment account has been
reduced to zero. How should Idler account for this investment?
4) Which types of transactions, exchanges, or events would indicate that an investor has the
ability to exercise significant influence over the operations of an investee?
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