Complete the following descriptions by filling in the blanks. 1. Accrual of interest on bonds held as

Question:

Complete the following descriptions by filling in the blanks.
1. Accrual of interest on bonds held as long-term investments requires a credit to ______ ________.
2. The controlling investor (more than 50% ownership) is called the _____, and the investee company is called the _______.
3. Trading securities are classified as _______ assets.
4. Equity securities giving an investor significant influences are accounted for using the _____ ______.
5. Available-for-sale debt securities are reported on the at _______ ______.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...