Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, 2016. The following t
ransactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31: 2016
Jan. 22 Purchased 22,000 shares of Sankal Inc. as an available-for-sale security at $18 per share, including the brokerage commission.
Mar. 8 Received a cash dividend of $0.22 per share on Sankal Inc. stock.
Sep. 8 A cash dividend of $0.25 per share was received on the Sankal stock.
Oct. 17 Sold 3,000 shares of Sankal Inc. stock at $16 per share, less a brokerage commission of $75.
Dec. 31 Sankal Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $25 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment.
2017 Jan. 10 Purchased an influential interest in Imboden Inc. for $720,000 by purchasing 96,000 shares directly from the estate of the founder of Imboden Inc. There are 300,000 shares of Imboden Inc. stock outstanding.
Mar. 10 Received a cash dividend of $0.30 per share on Sankal Inc. stock.
Sep. 12 Received a cash dividend of $0.25 per share plus an extra dividend of $0.05 per share on Sankal Inc. stock.
Dec. 31 Received $57,600 of cash dividends on Imboden Inc. stock. Imboden Inc. reported net income of $450,000 in 2017. Forte Inc. uses the equity method of accounting for its investment in Imboden Inc.
Dec. 31 Sankal Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $22 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment for the decrease in fair value from $25 to $22 per share.
Prepare the investment-related asset and stockholders’ equity balance sheet presentation for Forte Inc. on December 31, 2017, assuming that the Retained Earnings balance on December 31, 2017, is $389,000. Refer to the Chart of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. "Less" or "Plus" will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
<span>Social role theory is a perspective in
social psychology which considers men and women to act differently in social
situation and take different roles due to the expectations that society puts on
them. In this case, Karen expects women to take feminine roles.</span>
From the values given and from mathematical manipulation, he or she needs a contribution of at least $2900 every year in order to achieve his goal of $50,000.
EXPLANATION
If the child is 5yr old now, in 13years time, she will be 18yr old.
$2950 target yearly
for the next 13years, it would have amount to $38350
remember the bank will give an annual interest rate of 2%
so for 13years, that's 26% = 0.26
In the 13th year, he would have saved $38350, add the 26% interest for the duration of 13years = 26% x $38350 + $38350 = $48321
His savings will fall between $2950 - $2960 yearly.
