Journal Entry worksheet:
1. Record the acquisition of 6% distribution transformers corporation bonds costing $560,000 at face value
2. record the acquisition of $1,140,000 of american instruments' 8% bonds at face value
3. record the entry for the semiannual interest received on the distribution transformers bonds
4. record the entry to adjust to fair value on the date of sale of the distribution transformers bonds.
5. record the entry for the reclassification adjustment on the date of sale.
6. record the entry for sale of distribution transformers bonds for $601,000
7. record the acquisition of $1,560,000 of M&D Corporation 4% bonds at face value
8. Record the interest accrual for American Instruments bonds.
9. Record the interest accrual for M&D bonds
10. Record the entry to adjust fair value of investments at year-end. 
The following selected transactions relate to investment activities of Omamental insulation Corporation during 202 The company buys det securtesnorintending to profit from short-term differences in price and not necessary to hold debt securities to maturity buttoreve them available for sale in years when circumstances were moment cal year ends on December 31. No investments were held by Orements on December 31 2020 Acred Distribution T Sp. A rad Si. . Spa ced o Corporation bonds costess, at Face value kan tot bonde a face value on the Distribution Transformers bonds Purchas Corporation coddany cessary adui trys) bonds at face value into the state. The 3 prices of the state $1,637.ee Required: 1. Prepare the appropriateur entry for each one or event during 2021 wel dating entries necessary at year end. For any sales, prepare entries to post the file cluent record any rec o ton sustment, and record the sale 2. In cate any amounts that mementing on wou reportin 2021 income asement 2021 tatement of comprehensive Income and 12312021 balance sheet as a rest of these investments include totes for net income, comprehensive income, and retained earnings os rest of these investments Answer is not complete. Complete this question by entering your answers in the tabs below. brud Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. For any sales, prepare entries to update the fair-value adjustment record any redassification adjustment, and record the sale. (If no entry is required for a transaction/event, select "No tournal entry required in the first account field.) Show less General Journal Credit NO 1 Debit 60,000 March 31, 2021 Investment in bonds Cash 560,000 1,140,000 September 01, 2d investment in bonds Cash 1.140,000 September 30, 2d Cash Interest revenue looooo @@@ 16,800 501.000 October 2 2021 Cash investment in bonds Gain on investments N) 81,000 October 2 2021 Nomantyoured October 2 200 Numar Norbert martinbons 150 000 Decor @ 35.000 a tions restove December 150 000 10 December, ar m ert Loss on investments fr ed OCD) Indicate any amounts that momentalistion would report ins 2021 income s e nt2001 comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Indude totais for net income comprehensive income, and retained amnings as a result of these investments. Amounts to be deducted should be indicated with a minussion) Show less income statement Gain on investments statement of comprehensive income: Other comprehensive income Comprehensive income Current A S ostrov Cash Nement investment in bonds Ade Fair value admont S ider OOO 3 10 e s 2.721.00
