The various terms are used here. The terms that are used here are – a. Subsidiary – A subsidiary is the company whose shares are bought by another company. But the purchasing company must buy shares more than 50% of ownership. b. Parent – A parent company is the company shares of the other company more than 50% of ownership. The company whose shares are bought by another company is treated as subsidiary. c. Interest revenue – It is the revenue earned on the debt securities. The debt securities can be available-for-sale as well long term d. Current assets – The assets which are held for a short-period. e. Fair value – It is the market value of something at the prevailing time. Fair value if used to record available-for-sale securities on the balance sheet. f. Equity method – This method is used in case, a company purchased investment ranging from 20 % to 50 % of ownership and that gives a significant control to the investor over the investee. The mentioned terms have been discussed. To complete: The descriptions by filling in the blanks using the terms given. Given terms – a. Subsidiary b. Parent c. Interest revenue d. Current e. Fair value f. Equity method

Question

Want to see the full answer?

Answer 1

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 12QS

To determine

Concept Introduction:

The various terms are used here.

The terms that are used here are $-$

a. Subsidiary $-$

A subsidiary is the company whose shares are bought by another company. But the purchasing company must buy shares more than 50% of ownership.

b. Parent $-$

A parent company is the company shares of the other company more than 50% of ownership. The company whose shares are bought by another company is treated as subsidiary.

c. Interest revenue $-$

It is the revenue earned on the debt securities. The debt securities can be available-for-sale as well long term

d. Current assets $-$

The assets which are held for a short-period.

e. Fair value $-$

It is the market value of something at the prevailing time. Fair value if used to record available-for-sale securities on the balance sheet.

f. Equity method $-$

This method is used in case, a company purchased investment ranging from 20 % to 50 % of ownership and that gives a significant control to the investor over the investee.

The mentioned terms have been discussed.

To complete:

The descriptions by filling in the blanks using the terms given.

Given terms $-$

a. Subsidiary

b. Parent

c. Interest revenue

d. Current

e. Fair value

f. Equity method

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

I am looking for help with this financial accounting question using proper accounting standards.

What is labor price variance? General accounting

Hello tutor please given General accounting question answer do fast and properly explain all answer

Answer 2

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 12QS

To determine

Concept Introduction:

The various terms are used here.

The terms that are used here are $-$

a. Subsidiary $-$

A subsidiary is the company whose shares are bought by another company. But the purchasing company must buy shares more than 50% of ownership.

b. Parent $-$

A parent company is the company shares of the other company more than 50% of ownership. The company whose shares are bought by another company is treated as subsidiary.

c. Interest revenue $-$

It is the revenue earned on the debt securities. The debt securities can be available-for-sale as well long term

d. Current assets $-$

The assets which are held for a short-period.

e. Fair value $-$

It is the market value of something at the prevailing time. Fair value if used to record available-for-sale securities on the balance sheet.

f. Equity method $-$

This method is used in case, a company purchased investment ranging from 20 % to 50 % of ownership and that gives a significant control to the investor over the investee.

The mentioned terms have been discussed.

To complete:

The descriptions by filling in the blanks using the terms given.

Given terms $-$

a. Subsidiary

b. Parent

c. Interest revenue

d. Current

e. Fair value

f. Equity method

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 12QS

To determine

Concept Introduction:

The various terms are used here.

The terms that are used here are $-$

a. Subsidiary $-$

A subsidiary is the company whose shares are bought by another company. But the purchasing company must buy shares more than 50% of ownership.

b. Parent $-$

A parent company is the company shares of the other company more than 50% of ownership. The company whose shares are bought by another company is treated as subsidiary.

c. Interest revenue $-$

It is the revenue earned on the debt securities. The debt securities can be available-for-sale as well long term

d. Current assets $-$

The assets which are held for a short-period.

e. Fair value $-$

It is the market value of something at the prevailing time. Fair value if used to record available-for-sale securities on the balance sheet.

f. Equity method $-$

This method is used in case, a company purchased investment ranging from 20 % to 50 % of ownership and that gives a significant control to the investor over the investee.

The mentioned terms have been discussed.

To complete:

The descriptions by filling in the blanks using the terms given.

Given terms $-$

a. Subsidiary

b. Parent

c. Interest revenue

d. Current

e. Fair value

f. Equity method

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 15, Problem 12QS

To determine