SEVE&E Chee 12 The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2018. The company buys equity securities as investments. None of Ornamental's investments are large enough to exert significant influence on the investee. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2017 10 Mar. 31 Acquired Distribution Transformers Corporation common stock for $560,000. Sep. points 1 Acquired $1,140,000 of American Instruments common stock. Sep. 30 Received a $16,800 dividend on the Distribution Transformers common stock. 2 Sold the Distribution Trans formers common stock for $601,000. 1 Purchased $1,560,000 of M&D Corporation common stock. Skipped Oct. Nov. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: eBook American Instruments common stock $1,074,000 $1,637,000 M&D Corporation common stock Print Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. 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 Complete this question by entering your answers in the tabs below. 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. if no entry is required for a transaction/event, select "No jourral entry required" in the first account field.) 12 RED Corporation common stock $1,637,000 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year 10 end. 2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehensve income, and 12/31/2018 balance sheet as a result of these investments. points Skipped Complete this question by entering your answers in the tabs below. eBook Required Required 2 Print Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at year end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) References View transaction list Journal entry worksheet 2 3 5 6 7 Record the acquisition of Distribution Transformers Corporation common stock for $560,000. Note: Enter debits before credits. Date General Journal Debit Credit March 31, 2018 CA CT CUmp income, and 12/31/2018 balance sheet as a result of these investments. Skipped Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print References View transaction list Journal entry worksheet N Required: 1. Prepare the appropriate journal entry for each transaction or event during 2018, end. as well as any adjusting entries necessary at ye 10 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. points Sklpped Complete this question by entering your answers in the tabs below. eBook 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 enc (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print References View transaction list Journal entry worksheet 1 4 5 6 7 Record the entry for dividend received on the Distribution Transformers common stock. Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2018 Mc Graw Hill Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print as any adjusting entries neces References View transaction list Journal entry worksheet K 1 2 3 6 7 Record the entry to adjust to fair value on the date of sale of the Distribution Transformers bonds. Note: Enter debits before credits. Date General Journal Debit Credit October 02, 2018 Mc Graw Hill Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) Print References View transaction list Journal entry worksheet 2. Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of comprehe income, and 12/31/2018 balance sheet as a result of these investments. points Skipped Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Prepare the appropriate journal entry for each transaction or event during 2018, as well as any adjusting entries necessary at ye (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print References View transaction list Journal entry worksheet 1 2 3 5 7 Record the acquisition of $1,560,000 of M&D Corporation common stock. Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2018 1 eBook 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 (If no entry Is required for a transaction/event, select "No journal entry required" in the first account field.) Print References View transaction list Journal entry worksheet K 2 3 4 5 6 Record the entry for Fair-value adjustment. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Mc Graw Hill 12 end. 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. 10 points Complete this question by entering your answers in the tabs below. Skipped Required 1 Required 2 Indicate any amounts that Ornamental Insulation would report in its 2018 income statement, 2018 statement of eBook comprehensive income, and 12/31/2018 balance sheet as a result of these investments. Income statement Print References $ Statement of comprehensive income: Balance sheet Assets Current Assets 0 Shareholders' Equity Required 1