Use the Following Information for Questions

question 60

Multiple Choice

Use the following information for questions
On March 1, 2010, Beck Company purchased land for an office site by paying $270,000 cash.Beck began construction on the office building on March 1.The following expenditures were incurred for construction:

The office was completed and ready for occupancy on July 1.To help pay for construction,
$360,000 was borrowed on March 1, 2010 on a nine percent, three-year note payable.Other than the construction note, the only debt outstanding during 2010 was a $150,000, 10%, six-year note
payable dated January 1, 2010.
-Jakob Corporation uses the fair value model of accounting for its investment property.The fair values of its property were $124,000 and $129,000 at December 2011 and and December 2012 respectively.At December 2012 Jakob should

• A)Recognize a gain of $5,000 in income
• B)Report a gain of $5,000 in other comprehensive income
• C)Defer the gain until realized
• D)none of the above

Recognize sex as a social and biological motive with influences from nature and nurture.

Identify the complex control system required for reproduction involving hormonal interactions between the brain and the reproductive system.

Comprehend the role of aggression and its influences from evolutionary, biological, and cultural perspectives.

Explain the importance of mate selection criteria from both evolutionary and cultural viewpoints.

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Definitions:

Effective Interest Method

An accounting method for amortizing bond premiums or discounts that results in a constant rate of interest over the life of the bond.

Semiannually

Refers to an event or action that occurs twice a year.

Held To Maturity

Refers to debt securities that an investor intends and has the ability to hold until they mature, as opposed to selling before maturity.

Stock Dividend

A distribution of additional shares of a company’s own stock to its shareholders instead of cash, usually based on a fixed ratio to the current holdings.