need to be solved in 30mins or less

prepare journal wntries for the 2021 transactions as detailed above

(15 minutes) Bombier Inc.'s non-strategic investment portfolio at December 31, 2020, consisted of the following: Debt & Equity Investments Cost Fair Value 50,000 Cumber Corporation common shares $138,000 $145,000 18,000 Olds Inc. common shares $124.200 $118,900 45,000 Waters Corp. common shares $265,500 $261,000 "The fair value adjustments were recorded on December 31, 2020. Bombier Inc. had no other debt and equity investments at December 31, 2020, other than those shown above. During 2021. Bombier engaged in the following transactions: Feb 2 Sold 45,000 of the Cumber Corporation shares for $2.48 per share Jun 27 Purchased 280,000 common shares of King Corp. for $540,000. The shares representa 38% ownership in King Corp. Hun 30 Received dividends of $0.45 per share from King Corp. Jul 3 Sold the remaining Cumber Corporation shares for $14,680 Aug 7 Purchased a 15% ownership in Amber Corp. by acquiring 45,000 common shares at $14.00 per share. Bombier Inc. plans to sell these shares in six to nine months. Dec 30 Sold 25,000 shares of Waters Corp. for $5.40 per share Dec 31 King Corp. announced a loss of $40,000 for the year Required: Prepare journal entries for the 2021 transactions as detailed above Short Answer Toolbar navigation BI SE Tilt 111 A220