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NU EIN Submit Check my work the following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company uys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. ar. 31 Acquired 89 Distribution Transformers Corporation bonds costing $420,000 at face value. ep. 1 Acquired $960,000 of American Instruments' 10% bonds at face value. ep. 30 Received semiannual interest payment on the Distribution Transformers bonds. ct. 2 Sold the Distribution Transformers bonds for $455,000. "ov. 1 Purchased $1,500,000 of M&D Corporation 64 bonds at face value. mec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments bonds MED Corporation bonds $ 912,000 $1,562,000 Hint: Interest must be accrued.) Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and tindaniner ernftherinante Prev 1 of 5 Next > > g UITS Homework (due day 71 Saved Help Save & Exit Submit Check my work requireu. 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. (Amounts to be deducted should be indicated with a minus sign.) Income statement: Prev 1 of 5 Next > Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the acquisition of 8% Distribution Transformers Corporation bonds costing $420,000 at face value. Note: Enter debits before credits. Debit Credit Date General Journal March 31, 2021 Investment in bonds Cash View general journal Record entry Clear entry Journal entry worksheet 1 2 3 4 5 7 8 Record the acquisition of $960,000 of American Instruments' 10% bonds at face value. Note: Enter debits before credits. General Journal Debit Credit Date September 01 2021 Investment in bonds Cash Prev 1 of 5 Next > Journal entry worksheet Seved Journal entry worksheet Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Record the entry for sale of Distribution Transformers bonds for $455,000. Note: Enter debits before credits. Credit Debit Date General Journal October 02, 2021 Cash 1 of 5 Next > Prev Journal entry worksheet Journal entry worksheet 1 2 3 4 5 6 8 9 Record the interest accrual for American Instruments bonds. Note: Enter debits before credits. Date General Journal Debit Credit December 31. 2021 Prey 1.015 Next > Journal entry worksheet Record the interest accrual for M&D bonds. Note: Enter debits before credits. Debit Credit General Journal Date December 31, 2021 Next > 1.0f 5 Prev Journal entry worksheet Prey NU EIN Submit Check my work the following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company uys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. ar. 31 Acquired 89 Distribution Transformers Corporation bonds costing $420,000 at face value. ep. 1 Acquired $960,000 of American Instruments' 10% bonds at face value. ep. 30 Received semiannual interest payment on the Distribution Transformers bonds. ct. 2 Sold the Distribution Transformers bonds for $455,000. "ov. 1 Purchased $1,500,000 of M&D Corporation 64 bonds at face value. mec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments bonds MED Corporation bonds $ 912,000 $1,562,000 Hint: Interest must be accrued.) Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and tindaniner ernftherinante Prev 1 of 5 Next > > g UITS Homework (due day 71 Saved Help Save & Exit Submit Check my work requireu. 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments. (Amounts to be deducted should be indicated with a minus sign.) Income statement: Prev 1 of 5 Next > Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record the acquisition of 8% Distribution Transformers Corporation bonds costing $420,000 at face value. Note: Enter debits before credits. Debit Credit Date General Journal March 31, 2021 Investment in bonds Cash View general journal Record entry Clear entry Journal entry worksheet 1 2 3 4 5 7 8 Record the acquisition of $960,000 of American Instruments' 10% bonds at face value. Note: Enter debits before credits. General Journal Debit Credit Date September 01 2021 Investment in bonds Cash Prev 1 of 5 Next > Journal entry worksheet Seved Journal entry worksheet Journal entry worksheet 1 2 3 4 5 6 7 8 9 > Record the entry for sale of Distribution Transformers bonds for $455,000. Note: Enter debits before credits. Credit Debit Date General Journal October 02, 2021 Cash 1 of 5 Next > Prev Journal entry worksheet Journal entry worksheet 1 2 3 4 5 6 8 9 Record the interest accrual for American Instruments bonds. Note: Enter debits before credits. Date General Journal Debit Credit December 31. 2021 Prey 1.015 Next > Journal entry worksheet Record the interest accrual for M&D bonds. Note: Enter debits before credits. Debit Credit General Journal Date December 31, 2021 Next > 1.0f 5 Prev Journal entry worksheet Prey

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