Jade Investments,Inc B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 324,000 & \\\hline \text { Revenue from Investments } & & 324,000 \\\hline\end{array}$$

question 142

Multiple Choice

Jade Investments,Inc.purchased 45% of the common stock of Ivory Corporation on March 1,2017.Ivory Corporation reports a net income of $720,000 for the 2017 year.Which of the following is the correct journal entry?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Long-term Investments-Ivory Corporation } & 324,000 & \\
• \hline \text { Revenue from Investments } & & 324,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 324,000 & \\
• \hline \text { Revenue from Investments } & & 324,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Revenue from Investments } & 324,000 & \\
• \hline \text { Cash } & & 324,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l| r | r | }
• \hline \text { Revenue from Investments } & 324,000 & \\
• \hline \text { Long-term Investments-Ivory Corporation } & & 324,000 \\
• \hline
• \end{array}\]

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Definitions:

Neurons

Specialized cells that transmit nerve impulses; the basic working unit of the brain and the nervous system.

Somatic Nerves

Nerves that convey information from the brain and spinal cord to muscles, directing voluntary movement.

Skeletal Muscle

A type of striated muscle tissue which is under voluntary control and is attached to the skeleton, enabling body movement.

Senses

The physiological capacities of organisms that provide data for perception through organs specialized in detecting light, sound, temperature, taste, pressure, and smell.