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How much total interest revenue will comfort shoes recognize

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Problem 1: When one company purchases less than 50% of equity securities in a second company, which of the following statements is true?

a.The purchaser is referred to as the subsidiary.

b.The company whose securities are purchased is the investee.

c.The purchaser is referred to as the parent.

d.The company whose securities are purchased is the subsidiary.

Problem 2: Comfort Shoes received a promissory note from a customer on April 1, 2017. The face amount of the note is $2,000; the terms are 12 months and 8% annual interest. How much total interest revenue will Comfort Shoes recognize for the year ended December 31, 2017?

a.$40

b.$107

c.$160

d.$120

Reference no: EM132789944

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