Amazon Services,Inc

question 27

Multiple Choice

Amazon Services,Inc.invests its excess cash in Nile Technologies,Inc.and acquires 6000 shares for $61.75 per share.Amazon Services,Inc.owns less than 2% of Nile's voting stock and plans to hold the stock for two years.While preparing the journal entry to record this transaction,________.

• A) Equity Investments is debited for $370,500
• B) Common Stock is debited for $370,500
• C) Long-term Investments is credited for $370,500
• D) An equity account is debited for $370,500

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Definitions:

Spiritual Distress

A state of suffering related to the impairment of an individual's beliefs, values, and spirituality, impacting their overall well-being and quality of life.

Spiritual Garment

Clothing that has religious significance or is used in spiritual or religious contexts.

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A final stage of liver cancer where the disease is considered advanced and incurable, often with limited life expectancy.

Atheist

An individual who does not believe in the existence of any deities or gods.