Use the Following Information for Questions

question 48

Multiple Choice

Use the following information for questions.
The summarized balance sheets of Thunder Bay Corp.and Fort William Corp.at December 31, 2017 are as follows:
-If Thunder Bay acquired a 20% interest in Fort William on December 31, 2017 for $65,000 and the equity method of accounting for the investment were used, the amount of the debit to Investment in Fort William Corp.would have been

• A)$65,000.
• B)$60,000.
• C)$45,000.
• D)$37,000.

---

Definitions:

Heredity

Heredity is the passing on of physical or mental characteristics genetically from one generation to another.

Imprinting

A form of rapid learning that occurs during a brief receptive period, typically soon after birth or hatching, which establishes a long-lasting behavioral response to a specific individual or object.

Reactive Nervous System

Refers to the part of the nervous system that responds spontaneously to stimuli, often indicative of an instinctual or immediate reaction.

Anxious

Experiencing worry, unease, or nervousness, typically about an imminent event or something with an uncertain outcome.