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How many percent does a company typically need to own out

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Problem 1: On January 15, 2020, Deloitte Company sells some of its bonds in its portfolio. The bonds originally cost $3,000 and they are sold for $4,000. The journal entry to record the transaction using fair value through net income will include a:

Select one:
a. Debit to Loss on Sale of Investment for $1,000
b. Credit to Gain on Sale of Investments for $1,000
c. Debit to Cash for $3,000
d. Short-Term Investment Bonds for $4,000

Problem 2: How many percent does a company typically need to own out of the common shares outstanding of an investee corporation to have a significant influence?

Select one:
a. 20-50%
b. 10-20%
c. 30-40%
d. 50-70%

Reference no: EM132948977

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