Delta corporation pays 500000 to acquire 40 of the equity, Financial Accounting

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Delta corporation pays 500000 to acquire 40 of the equity

Delta Corporation pays $500,000 to acquire 40% of the equity securities of Wiley Technologies on May 5, 2015. Which of the following will be included in the journal entry to record this transaction?

A) Debit Long-term Investments—Trading Investments $500,000.

B) Debit Long-term Investments—Venkat Technologies $500,000.

C) Debit Long-term Investments—Available-for-Sale $500,000.

D) Credit Long-term Investments—Available-for-Sale $500,000.

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Financial Accounting: Delta corporation pays 500000 to acquire 40 of the equity

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Financial Accounting: Delta corporation pays 500000 to acquire 40 of the equity

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