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3 1 , 2 0 2 3 . March 3 1 Acquired Distribution Transformers Corporation common stock for $ 5 5 0 , 0 0
March Acquired Distribution Transformers Corporation common stock for $
September Acquired $ of American Instruments' common stock.
September Received a $ dividend on the Distribution Transformers common stock.
ctober Sold the Distribution Transformers common stock for $
November Purchased $ of M&D Corporation common stock.
December Recorded any necessary adjusting entrys relating to the investments. The market prices of the investments are:
American Instruments common stock $
M&D Corporation common stock $
Required:
Prepare the appropriate journal entry for each transaction or event during as well as any adjusting entries necessary at
year end.
Indicate any amounts that Ornamental Insulation would report in its income statement, statement of comprehensive
income, and balance sheet as a result of these investments. Include totals for net income, comprehensive income,
and retained earnings as a result of these investments. Ignore income taxes.
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