Check my 11 The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale when circumstances warrant. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017 10 points Mar. 31 Acquired 58 Distribution Transformers Corporation bonds costing $410,000 at face value. Sep. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Siipped 1 Acquired $915,000 of American Instruments' 88 bonds at face value. 2 Sold the Distribution Transformers bonds for $436,000. 1 Purchased $1,410,000 of M&D Corporation 38 bonds costing at face value. Oct. Nov. Dec. 31 Recorded any necessary adjusting entry (s) relating to the investments. The market prices of the investments are: eBopk American Instruments bonds 864,000 MAD Corporation bonds $1,471,000 Print (Hint: Interest must be accrued.) Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. 2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments. References as well as any adjusting entries necessary at year Complete this question by entering your answers in the tabs below. Required 1 Required 2 Indicate any amoun comprehensiive income, and 12/31/2018 balance sheet as a result of these investments. (Amounts to be deducted should be indicated with a minus sign.) at Ornamental Insulation would report in its 2018 income statement, 2018 statement of 11 Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensive income, and 12/31/2018 balance sheet as a result of these investments. (Amounts to be deducted should be indicated wiith a minus sign.) 10 points Income statement Skipped $ C eBook Statement of comprehensive income: Print References Balance sheet Assets Current Assets Investments sapreholders' Equity Accumulated other comprehensive income Requlced 1 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10 points Skipped View transaction list Journal entry worksheet eBook 1 4 5 6 7 10 Print Record the acquisition of 915,000 of American Instruments' 8% bonds at face value. References Note: Enter debits before credits. Date General Journal Debit Credit September 01, 2018 Record entry Clear entry View general journal Mc Graw 11 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10 polints Skipped View transaction list Journal entry worksheet eBook 1 2 4 5 . 6 8 10 Print Record the entry for the semiannual interest received on the Distribution Transformers bonds. References Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2018 Record entry Clear entry View general journal 11 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale.. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 10 points Skipped View transaction list Journal entry worksheet eBook 1 2 5 6 8 10 Print Record the entry to adjust to fair value on the date of sale of the Distribution Transformers bonds. References Note: Enter debits before credits. Date General Journal Debit Credit October 02, 2018 Record entry Clear entry View general journal T4 11 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as an For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If no entry is requlred for a transaction/event, select "No journal entry required" in the first account field.) ting entries necessary at year end. 10 polnts Skipped View transaction list Journal entry worksheet eBook 1 2 3 4 5 6 10 Print Record the entry for the reclassification adjustment on the date of sale References Note: Enter debits before credits. Date General Journal Debit Credit October 02, 2018 Record entry Clear entry 11 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) 10 points Skipped View transaction list Journal entry worksheet eBook 2 3 4 6 7 9 10 Print Record the entry for sale of Distribution Transformers bonds for $436,000. References Note: Enter debits before credits. Date General Journal Debit Credit October 02, 2018 Record entry Clear entry Vlew general Journal 11 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) as well as any adjusting entries necessary at year end. 10 points Skipped View transaction list Journal entry worksheet eBook 1 2 3 4 5 6 10 Print Record the acquisition of $1,410,000 of M&D Corporation 3% bonds at face value. References Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2018 11 Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment, record any reclassification adjustment, and record the sale. (If n entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) 10 points Skipped View transaction list Journal entry worksheet eBook