The following selected transactions relate to investment activities of Omamental Insulation Corporation during 2021. The company buys equity securities as noncurrent 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, 2020 Mar. 31 Acquired Distribution Transformers Corporation common stock for $530,000 Sep. 1 Acquired $1,095, eee of American Instruments common stock. Sep. 3e Received a $15,900 dividend on the Distribution Transformers common stock. Oct. 2 Sold the Distribution Transformers common stock for $568,eee. Nov. 1 Purchased 51,530,000 of MID Corporation common stock Dec. 31 Recorded any necessary adjusting entrys) relating to the investments. The market prices of the investments are: American Instruments common stock HD Corporation common stock $1,032,000 $1,603,000 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end. 2. Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive income, and 12/31/2021 balance sheet as a result of these investments. Include totals for net income, comprehensive income, and retained earnings as a result of these investments Dec 31 Recorded my necessary adjusting entry() relating to the restents. The market prices of the investments are Aerican Instruments Co Stack HD Corporation contock 11,082,00 31,603,00 Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year end Indicate any amounts that Ornamental Insulation would report in its 2021 income statement, 2021 statement of comprehensive ncome, and 12/31/2021 balance sheet as a result of these investments include totals for net income, comprehensive income, and retained earnings as a result of these investments 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 2021, as well as any adjusting entries necessary at yearend (If no entry is required for a transaction/event select "No journal entry required in the first account field.) Prepare the appropriate journal entry for each transaction or event during 2021, as well as any adjusting entries necessary at year and. (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 > Record the acquisition of Distribution Transformers Corporation common stock for $530,000. Note Enter debats before credits General Journal Debit Credit Date March 31, 2021 Record entry Clear entry View general Journal Prepare the appropriate journal entry for each transaction or event during 2001, as well as any adjusting entries necessary at year and (if ne entry is required for a transaction event elect "No journal entry required in the first account field.) View transaction lit Journal entry worksheet Record the acquisition of $1,095,000 of American Instruments' common stock. Dec General Journal Debit Credit Date September 01 ulert Clearen Vee paapal Journal entry worksheet
