No Explanation needed only True or false

1. Networking capital may be defined as “Current Assets” minus “Current Liabilities.”

2. The forward rate is the rate applied to buy currency for immediate delivery.

3. The shorter a firm’s “Cash Conversion Cycle” (CCC), the better. A shorter CCC will result in lower “Interest Expense” for the firm.

4. Exchange rates influence a multinational firm’s inventory policy because changing currency values can affect the value of inventory.

5. If a single U.S. dollar will buy fewer units of a foreign currency in the forward market than in the spot market, then the forward currency is said to be selling at a premium to the spot rate.

6. Holding minimal levels of inventory (i.e., the “lean and mean” or “restricted” working capital policy) can reduce inventory carrying costs and cannot lead to any adverse effects on profitability.

7. The sound working capital policy is designed to maximize the time between cash expenditures on raw materials and the collection of cash from credit sales.

8. The United States and most other major industrialized nations currently operate under a system of floating exchange rates.

9. A given indirect currency quotation is the reciprocal of the direct quotation.

10. Prior to 1971, the United States used a fixed exchange rate system, with the U.S. dollar being tied to gold.

11. Due to advanced technology and the similarity of general procedures, multi-national financial management is no more complex than financial management for domestic firms.

12. A country’s central bank can “prop up” or raise the value of its currency on the market by selling additional reserves of its own currency on the open market.

13. The volatility of exchange rates under a floating rate system increases the uncertainty of the cash flows for a multinational corporation.

14. According to today’s edition of The Wall Street Journal, $1.5769 U.S. dollars can purchase one euro. This is an indirect quote in terms of U.S. dollars.

15. Under a “relaxed” current asset investment policy, a firm holds only small amounts of current assets relative to sales.

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.22Purchased 23,600 shares of Sankal Inc. as an available-for-sale security at $18 per share, including the brokerage commission.

Mar.8Received a cash dividend of $0.21 per share on Sankal Inc. stock.

Sep.8A cash dividend of $0.24 per share was received on the Sankal stock.

Oct.17Sold 4,700 shares of Sankal Inc. stock at $15 per share less a brokerage commission of $60.

Dec.31Sankal 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.10Purchased 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.10Received a cash dividend of $0.29 per share on Sankal Inc. stock.

Sep.12Received a cash dividend of $0.24 per share plus an extra dividend of $0.06 per share on Sankal Inc. stock.

Dec.31Received $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.31Sankal 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.

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 $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.

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:

Record these transactions on page 11:

X

Chart of Accounts

X

Amount Descriptions

Forte Inc. produces and sells theater set designs and costumes. The company began operations on January 1, 20Y6. The following transactions relate to securities acquired by Forte Inc., which has a fiscal year ending on December 31, 20Y6:

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:

Record these transactions on page 11:

Journal

1a. Journalize the entries to record Year 1 transactions. Be sure to enter the year as part of the date for the first entry on each page. Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

1b. Journalize the entries to record Year 2 transactions. Be sure to enter the year as part of the date for the first entry on each page. Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries.

PAGE 11

JOURNAL

ACCOUNTING EQUATION

Balance Sheet

2. Prepare the investment-related asset and stockholders’ equity balance sheet presentation for Forte Inc. on December 31, Year 2, assuming that the Retained Earnings balance on December 31, Year 2, 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.

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:

Record these transactions on page 11:

Chart of Accounts

Amount Descriptions

Journal

1a. Journalize the entries to record Year 1 transactions. Be sure to enter the year as part of the date for the first entry on each page. Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

1b. Journalize the entries to record Year 2 transactions. Be sure to enter the year as part of the date for the first entry on each page. Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries.

PAGE 11

JOURNAL

ACCOUNTING EQUATION

Balance Sheet

2. Prepare the investment-related asset and stockholders’ equity balance sheet presentation for Forte Inc. on December 31, Year 2, assuming that the Retained Earnings balance on December 31, Year 2, 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.

Problem #4 – Logical Operators: Movie Ticket Price

The local movie theater in town has a ticket price of $12.00.

But, if you are a senior (55 and older), or are under 10, or are seeing a matinee which screens from 3 pm to 5 pm, you get the discounted price of $7.00, nice!

Hint 1: "55 and older" is INCLUSIVE

Hint 2: under 10 is EXCLUSIVE

Hint 3: the range 3 to 5 is INCLUSIVE

Hint 4: limit 1 per patron (i.e., it doesn’t compound)

Hint 5: considering there’s 3 am and pm and 5 am and pm, using a 24-hour clock (aka military time) may be an easier option (0000 to 2359)

Determine which of the two prices the customer is eligible for.

• Givens:

  • Time of Movie (Assume whole numbers here)

  • Age of the customer

• Result To Print Out:

  • "The ticket price is X"

Must use C# coding using conditional statements

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:

Record these transactions on page 11:

1. Journalize the March transactions. The Triquel records admission revenue as service revenue, concession revenue as rent revenue, and film rental expense as rent expense. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

2. Post the March journal entries to the ledger. (Post entries in the order of information presented in the question.)

3. Prepare a trial balance on March 31, 2017.

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:

Record these transactions on page 11: