Questions
Forte Inc. produces and sells theater set designs and costumes. The company began operations on January...

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31:

Year 1

Jan. 22 Purchased 23,600 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 $0.21 per share on Sankal Inc. stock.
Sep. 8 A cash dividend of $0.24 per share was received on the Sankal stock.
Oct. 17 Sold 4,700 shares of Sankal Inc. stock at $15 per share less a brokerage commission of $60.
Dec. 31 Sankal Inc. is classified as an available-for-sale investment and is adjusted to a fair value of $26 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment.

Record these transactions on page 11:

Year 2

Jan. 10 Purchased an influential interest in Imboden Inc. for $1,287,000 by purchasing 165,000 shares directly from the estate of the founder of Imboden Inc. There are 500,000 shares of Imboden Inc. stock outstanding.
Mar. 10 Received a cash dividend of $0.29 per share on Sankal Inc. stock.
Sep. 12 Received a cash dividend of $0.24 per share plus an extra dividend of $0.06 per share on Sankal Inc. stock.
Dec. 31 Received $56,400 of cash dividends on Imboden Inc. stock. Imboden Inc. reported net income of $489,800 in Year 2. 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 $21 per share. Use the valuation allowance for available-for-sale investments account in making the adjustment for the decrease in fair value from $26 to $21 per share.
Required:
1. Journalize the entries to record these transactions. Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries.
Prepare the investment-related asset and stockholders’ equity balance sheet presentation for Forte Inc. on December 31, Year 2, assuming the Retained Earnings balance on December 31, Year 2, is $376,000. 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
HART OF ACCOUNTS
Forte Inc.
General Ledger
ASSETS
110 Cash
111 Petty Cash
120 Accounts Receivable
121 Allowance for Doubtful Accounts
131 Notes Receivable
132 Interest Receivable
141 Merchandise Inventory
145 Office Supplies
146 Store Supplies
151 Prepaid Insurance
161 Investments-Sankal Inc.
163 Investment in Imboden Inc. Stock
165 Valuation Allowance for Trading Investments
166 Valuation Allowance for Available-for-Sale Investments
181 Land
191 Store Equipment
192 Accumulated Depreciation-Store Equipment
193 Office Equipment
194 Accumulated Depreciation-Office Equipment
LIABILITIES
210 Accounts Payable
221 Notes Payable
231 Interest Payable
241 Salaries Payable
251 Sales Tax Payable
EQUITY
311 Common Stock
312 Paid-In Capital in Excess of Par-Common Stock
321 Preferred Stock
322 Paid-In Capital in Excess of Par-Preferred Stock
331 Treasury Stock
332 Paid-In Capital from Sale of Treasury Stock
340 Retained Earnings
350 Unrealized Gain (Loss) on Available-for-Sale Investments
351 Cash Dividends
352 Stock Dividends
390 Income Summary
REVENUE
410 Sales
611 Interest Revenue
612 Dividend Revenue
621 Income of Imboden Inc.
631 Gain on Sale of Investments
641 Unrealized Gain on Trading Investments
EXPENSES
511 Cost of Merchandise Sold
512 Bad Debt Expense
515 Credit Card Expense
516 Cash Short and Over
520 Salaries Expense
531 Advertising Expense
532 Delivery Expense
533 Repairs Expense
534 Selling Expenses
535 Rent Expense
536 Insurance Expense
537 Office Supplies Expense
538 Store Supplies Expense
561 Depreciation Expense-Store Equipment
562 Depreciation Expense-Office Equipment
590 Miscellaneous Expense
710 Interest Expense
721 Loss of Imboden Inc.
731 Loss on Sale of Investments
741 Unrealized Loss on Trading Investments

In: Accounting

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January...

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31:

Record these transactions on page 10:

Year 1

Jan. 22 Purchased 19,600 shares of Sankal Inc. as an available-for-sale security at $19 per share, including the brokerage commission.
Mar. 8 Received a cash dividend of $0.21 per share on Sankal Inc. stock.
Sep. 8 A cash dividend of $0.24 per share was received on the Sankal stock.
Oct. 17 Sold 1,600 shares of Sankal Inc. stock at $15 per share less a brokerage commission of $80.
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.

Record these transactions on page 11:

Year 2

Jan. 10 Purchased an influential interest in Imboden Inc. for $886,950 by purchasing 121,500 shares directly from the estate of the founder of Imboden Inc. There are 450,000 shares of Imboden Inc. stock outstanding.
Mar. 10 Received a cash dividend of $0.29 per share on Sankal Inc. stock.
Sep. 12 Received a cash dividend of $0.24 per share plus an extra dividend of $0.06 per share on Sankal Inc. stock.
Dec. 31 Received $53,800 of cash dividends on Imboden Inc. stock. Imboden Inc. reported net income of $407,200 in Year 2. 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 $23 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 $23 per share.
Required:
1. Journalize the entries to record these transactions. Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries.
2. Prepare the investment-related asset and stockholders’ equity balance sheet presentation for Forte Inc. on December 31, Year 2, assuming the Retained Earnings balance on December 31, Year 2, is $415,000. 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.

In: Accounting

the manager of an amusement park would like to be able to predict daily attendance in...

the manager of an amusement park would like to be able to predict daily attendance in order to develop more accurate plans about how much food to order and how many ride operators to hire. after some consideration, he decided the following three factors are critical: 1. Yesterday's attendance 2. Weekday or Weekend 3. Predicted Weather He then took a random sample of 40 days. For each day, he recorded the attendance, day of the week, and weather forecast. The first independent variable is interval, but the other two are nominal. Accordingly, he created the following sets of indicator variables:

I1 = 1- (IF WEEKEND) 0 - (IF NOT)

I2 = 1 - (IF MOSTLY SUNNY IS PREDICTED) 2 - (IF NOT)

I3 = 1 - (IF RAIN IS PREDICTED) 2 - (IF NOT)

A. Conduct regression analysis

B. Is model valid? Explain

C. Can we conclude weather is a factor in determining attendance

D. Do these results provide sufficient evidence that weekend attendance is, on average, larger than weekday attendance?  

I will attach data in another question

In: Statistics and Probability

#1. [Water Slide & Swing] You are designing a slide for a water park. In a...

#1. [Water Slide & Swing] You are designing a slide for a water park. In a sitting position, park guests slide a vertical distance h down the water slide, which has negligible friction. When they reach the bottom of the slide, they grab a handle at the bottom end of a 6.00-m-long uniform pole. The pole hangs vertically, initially at rest. The upper end of the pole is pivoted about a stationary, frictionless axle. The pole with a person hanging on the end swings up through an angle theta max , and then the person lets go of the pole and drops into a pool of water. Treat the person as a point mass. The pole’s moment of inertia is given by I = (1/3)ML , where L = 6.00 m is the length of the pole and M = 24.0 kg is its mass. In your design, a person of mass m = 70.0 kg is to have a maximum angle of swing of theta max = 72.0˚ after their collision with the pole.

(a) In the "collision" between the slider and the pole, why is angular momentum about the pole's pivot conserved, but linear momentum and kinetic energy are not conserved? Assume that the slider is moving horizontally when they grab the handle on the vertically hanging pole.

(b) What is the angular speed of rotation of the pole & swinger just after the swinger grabs on, in terms of the final height the swinger reaches?

(c) What is the speed of the swinger at the bottom of the slide just before reaching the pole, in terms of their speed just after grabbing the pole?

(d) For a person of mass m = 70.0 kg, what must be the starting height h in order for the pole with person to have a maximum angle of swing of theta max =  72.0˚ after the collision?

In: Physics

The following data show the length of the coasters at the Mega Park (x) and height...

The following data show the length of the coasters at the Mega Park (x) and height of the same coasters (y). The regression equation for the data is given by y = 21.94 + 0.018x

Length

Height

1377

49

4424

112

3403

80

2780

45

3196

90

2000

41

790

28

2671

50

3450

100

2037

80

2134

80

679

28

1214

50

6072

120

a.      State and interpret the slope in the context of this problem, given the regression equation above.

b.      How tall does the linear regression model predict a coaster of 3450 feet long will be?

c.       Find and interpret the residual for the coaster which is 3450 feet long and has a height of 100 feet?

In: Statistics and Probability

A politician wants to open a new park in the middle of town. She needs to...

  1. A politician wants to open a new park in the middle of town. She needs to make sure that the local community supports the plan. A nearby town recently found that 60% of the community supported a similar plan and she believes that the same proportion will support it in her district. She takes a random survey of 40 people and find that the 10 people are supportive of her plan. She wants to be certain that this is not just due to statistical error. She is going to use an alpha of .01 for her study.
    1. What is the null and alternative hypotheses? (2)
    2. What are the critical values for this study? Please list all relevant information. (2)
    3. What is the statistic for the sample? (1)
    4. What is the P value for this sample (2)
    5. Do we reject the null hypotheses? Please interpret the hypotheses. (3)

In: Statistics and Probability

The manager of an amusement park would like to be able to predict daily attendance in...

The manager of an amusement park would like to be able to predict daily attendance in order to develop more accurate plans about how much food to order and how many ride operators to hire. After some consideration, he decided that the following three factors are critical:
Yesterday’s attendance
Weekday or weekend (1 if weekend, 0 if weekday)
Predicted weather
Rain forecast ( 1 if forecast for rain, 0 if not)
Sun ( 1 if mostly sunny, 0 if not)
He then took a random sample of 40 days. For each day, he recorded the attendance, the previous day’s attendance, day of the week, and weather forecast. An example of the first few lines of Data and the regression output are below:
Attendance   Yest Att   I1   I2   I3
7882   8876   0   1   0
6115   7203   0   0   0
5351   4370   0   0   0
8546   7192   1   1   0

SUMMARY OUTPUT                  
                      
Regression Statistics                  
Multiple R   0.836766353                  
R Square   0.700177929                  
Adjusted R Square   0.665912549                  
Standard Error   810.7745532                  
Observations   40                  
                      
ANOVA                      
    df   SS   MS   F   Significance F  
Regression   4   53729535   13432384   20.43398   9.28E-09  
Residual   35   23007438   657355.4          
Total   39   76736973                 
                      
    Coefficients   Standard Error   t Stat   P-value   Lower 95%   Upper 95%
Intercept   3490.466604   469.1554   7.439894   1.04E-08   2538.031   4442.903
Yest Att   0.368547078   0.077895   4.731349   3.6E-05   0.210412   0.526682
I1   1623.095785   492.5497   3.295294   0.002258   623.1668   2623.025
I2   733.4646317   394.3718   1.85983   0.071331   -67.1527   1534.082
I3   765.5429068   484.6621   -1.57954   0.123209   -1749.46   218.3734
Test to see if the model is valid. Use alpha = .05
Can we conclude that weather is a factor in determining attendance?
If the manager is looking for a way to help predict attendance, Is this a good model to use? How would you suggest making this model better?

please give proper details for the answer. Thank you

In: Statistics and Probability

The manager of an amusement park would like to be able to predict daily attendance in...

The manager of an amusement park would like to be able to predict daily attendance in order to develop more accurate plans about how much food to order and how many ride operators to hire. After some consideration, he decided that the following three factors are critical: Yesterday’s attendance Weekday or weekend Predicted weather He then took a random sample of 36 days. For each day, he recorded the attendance, the previous day’s attendance, day of the week, and weather forecast(mostly sunny, rain, cloudy). The first independent variable is interval, but the other two are nominal. a. Create the three indicator variables you need. b. Conduct a regression analysis. c. Is this model valid? Explain. d. Can we conclude that weather is a factor in determining attendance? e. Do these results provide sufficient evidence that weekend attendance is, on average, larger than weekday attendance? f. Do these results provide sufficient evidence that mostly sunny attendance is, on average, larger than cloudy attendance?

Attendance Yest Att day of the week weather forecast
7882 8876 2 1
6115 7203 2 3
5351 4370 2 3
8546 7192 1 1
6055 6835 2 3
7367 5469 2 1
7871 8207 2 1
5377 7026 2 3
5259 5592 2 1
4915 3190 2 3
6538 7012 2 3
6607 5434 2 3
5118 3764 2 3
6077 7575 2 3
4475 6047 2 3
3771 4430 2 3
6106 5697 2 3
7017 3928 1 2
5718 5552 2 3
5966 3142 1 2
8160 8648 1 2
4717 3397 2 3
7783 7655 2 3
5124 5920 2 3
7495 7831 1 2
5848 6355 2 3
5166 3529 2 3
4487 4220 2 3
7320 7526 2 1
6925 4083 1 1
8133 6382 1 1
7929 6459 2 3
7291 3432 1 2
5419 8077 2 3
3634 3353 2 3
6859 3803 1 2
1   weekend 1   mostly sunny
2   weekdays 2   rain
3   cloudy

In: Statistics and Probability

Dandy's Fun Park is evaluating the purchase of a new game to be located on its...

Dandy's Fun Park is evaluating the purchase of a new game to be located on its Midway.? Dandy's has narrowed their choices down to? two: the Wacky Water Race game and the

Whackminus?Aminus?Mole

game. Financial data about the two choices follows.

Wacky Water

Race

Whackminus?Aminus?

Mole

Investment

?$28,000

?$27,000

Useful life

5

5

Estimated annual net cash inflows for 5 years

?$10,000

?$3,000

Residual value

?$2,000

?$5,000

Depreciation method

straightminus?line

straightminus?line

Required rate of return

?8%

?10%

What is the total present value of future cash inflows and residual value from the

Whackminus?Aminus?Mole

?game?

In: Accounting

A man is hiking at a park. At the beginning, he followed a straight trail. From...

A man is hiking at a park. At the beginning, he followed a straight trail. From the starting point, he traveled two miles down the first trail. Then he turned to his left by 30 degree angle to follow a second trail for one point five miles. Next, he turned to his right by 160 degree angle and follow a third trail for one point seven miles. At this point he was getting very tired and would like to get back as quickly as possible, but all of the available trails seem to lead him deeper into the woods. He would like to take a shortcut directly through the woods. How far to his right should you suggest him to turn, and how far do he have to walk, to go directly back to his starting point?

Q1: The man has to turn ____ degree to the right and walk ___ miles to the starting point.

In: Physics