Instructions Chart of Accounts Amount Descriptions Journal Balance Sheet Instructions Forte in produces and sells thestor set designs and costures. The company bogan operations on January 1, Your 1 The following transactions relate to secution acquired by Forte in which has a fiscal year onding on December 31 Record these transachons on page to Year 1 Jan 22 Mar B Purchased 22.000 shares of Sankaline as an available for sale security at S18 per share, induding the brokerage commission Received a cash dividond of 50 22 por share on Sankal in stock A cash dividend of $0.25 per share was received on the Sankal stock Sold 3,000 shares of Sankal in stock at $10 per share less a brokerage Commission of $75 Sep B Oct 17 Instructions Chart of Accounts Amount Descriptions Journal Balance Sheet Instructions Record these transactions on page to Year 1 Jan 22 Mat 8 Sep 8 Purchased 22,000 shares of Sankal inc as an available for sale secundy at 518 per share, including the brokerage commission Received a cash dividend of 50 22 per share on Sankat tine stock A cash dividend of $0.25 per share was received on the Sankal stock Sold 3.000 shares of Sankaline stock at $10 per share less a brokerage commission of 575 Sankal Inc. is assified as an available for sale investment and is adjusted to a to ve of 25 per share. Use the valtion allowance for available for sale investments account in making the adjustment Oct 17 Dec 31 Activatid VOLS Stock investment transactions, equity method and available for sale securities Instructions Chart of Accounts Amount Descriptions Journal Balance Sheet Instructions Record these transactions on page 11 Year 2 Jan 10 Mar 10 Sep 12 Purchased an influential interest in moden inc for $720,000 by purchasing 06.000 shares directly trom the state of the founder of Imboden Inc. There we 300.000 shares of Imboden in stock outstanding Received a cash dividend of 50 30 per Share on Sankal in stock Received a condividend of $0 25 per share plus an extra dividend otso os pet share on Sanklin stock Received $57,600 of cash dividends on Imboden inc stock Imboden inc reported net income of $450,000 in Your 2Forte Inc uses the equity method of accounting for its investment in Imboden the Sankal Inc is classified as an aviable for sale investment and is adjusted to a fair value of $22 por Doc 31 Dec 31 Nading eBook Stock investment transactions, equity method and available for sale securities Instructions Chart of Accounts Amount Descriptions Journal Balance sheet Instructions Sep 12 Dec 31 Received a cash did of 50.25 por share plus an chuidend of 50 05 per she wind Stock Received SS7600 of cash dividends onmoon in stockiboi morto $450 000 Year 2 Forte ingut mod of accounting for Sanwine cessed as an overal vestment and used to 2 sho Use the valuation towance for at sents account the to decrease in for vero 525 to 322 persham Dec Required 1 Jomale there to record the transfer to the mating and the Chair los proded for the word of te worden the answer choice for extent 2. Prepare the interested asseck out holocation for Forec on December Amount Descriptions Amount Descriptions Available for sale investments (at cost) Avail for sale investments (atfair value) Net Incom Netloss Other comprehensive income (loss) Other income (oss) Trading investments (at cost) Trading investments (at fair value) book Journal To Journake the entries to record Year frisactions. 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 ones 10 JOURNAL DATE DOSCOPTION POIT. REK DERIT CD ACTITION LABUTES QUITY 1 BOOK Journal 1 1 4 Journalce the entries to record Year 2 transactions Bo se lo ato me your as part of the date for the first entry on each page. Refer to the information given and the och RA Journal 1 Joma the ones to record your resume to was the best and the 12 Chart Account provided for the exact wording of the ancho JOURNAL ATE BRITION OLD do Check My Work Journe Balance Sheet 2. Prepare the mostmontelated once and stockholders equy halance sheet on kortere on December 2, som har med sings hance on Crecember 3 Year 2 $399.000 Refer to the Chair of Accounts and Amount Description froided for the exact wording of the answer choice for our "Lessor Po' will may appear it is required. For the boxes in which you must entered one Forte Inc Balce Sheetsele com December 31 Year 2 Acvandows Previous Check My Work instruction Chart of Accounts Amount Descriptions Journal Balance Sheet Journal Balance Sheet X December 31 Year 1. Correntes 2 . travestments Stotelesegaty 11 Andows you Check My Work
