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The following selected transactions redate to investment actevities of Omamental trouation Corportbich ouring 2021. The company buyst debt securibes, intenoing to proft from thont Herm
The following selected transactions redate to investment actevities of Omamental trouation Corportbich ouring 2021. The company buyst debt securibes, intenoing to proft from thont Herm diflerences in price and mairtninging them in an active trading portfolio. Ornamental on December Mar. 31 Acquired 8t Distribution Transforters Corporation boeds costing stse, eet ot face viliee. Sep. 1 Acquired 31 , 05e, epe of Aterican Instrutents" 1et bonds at facie walue. Sep. 3e Recelved semiannual interest paynent on the Distribution Trassforners socds. oct. 2 . 5otd the Bistribution Iransforners bonds for $500, bet. Nov, 1 Purchased $1,650,002 of Not corporation 6N bonss at tace value. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investaents, the marcet arices af the investnents are (Hint: Interest must be accrued) Required: 1. Prepare the appropciate joumal entry for each transaction or event during 2021 as weil as any adyusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insuloton would report in is 2021 income statement. 2021 statement of comprehensive income, and 12/31/2021 bolance sheet as a result of these investnents. Incluce totabs for net income, comprehensive income, and retained enmings as a result of these inventments. Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entry for each transaction or event dumg 2021, as wel as any adjuteng entries nec. Journal entry worksheet 23.45=67789 Record the acquisition of 8% Distribution Transformers Cerperation bonds. costing $450,000 at face value
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