The following selected transactions relate to investment activities of Ornamental 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 $400,000. 1 Acquired $900,000 of American Instruments' common stock. Sep. Sep. 30 Received a $16,000 dividend on the Distribution Transformers common stock. Oct. Nov. 1 Purchased $1,400,000 of M&D Corporation common stock. 2 Sold the Distribution Transformers common stock for $425,000. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments common stock $ 850,000 M&D Corporation common stock $1,460,000

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2024. 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, 2023. March 31 Acquired Distribution Transformers Corporation common stock for $510,000. September 1 Acquired $1,065,000 of American Instruments common stock. September 30 Received a $20,400 dividend on the Distribution Transformers common stock. October 2 Sold the Distribution Transformers common stock for $546,000. November 1 Purchased $1,510,000 of M&D Corporation connon stock. December 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments common stock M&D Corporation common stock $ 1,004,000 $ 1,581,000 Required: 1. Prepare the…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental’s fiscal year ends on December 31 No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $480,000 at face value. Sep.   1 Acquired $1,020,000 of American Instruments’ 10% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct.   2 sold the Distribution Transformers bonds for $513,000. Nov.  1 Purchase $1,480,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry (s) relating to the investments. The market prices of the investments are   American Instruments bonds…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.  Mar.   31   Acquired 8% Distribution Transformers Corporation bonds costing $510,000 at face value. Sep.   1   Acquired $1,065,000 of American Instruments’ 10% bonds at face value. Sep.   30   Received semiannual interest payment on the Distribution Transformers bonds. Oct.   2   Sold the Distribution Transformers bonds for $546,000. Nov.   1   Purchased $1,510,000 of M&D Corporation 6% bonds costing at face value. Dec.   31   Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.   Mar.   31   Acquired 7% Distribution Transformers Corporation bonds costing $440,000 at face value. Sep.   1   Acquired $960,000 of American Instruments’ 9% bonds at face value. Sep.   30   Received semiannual interest payment on the Distribution Transformers bonds. Oct.   2   Sold the Distribution Transformers bonds for $469,000. Nov.   1   Purchased $1,440,000 of M&D Corporation 5% bonds at face value. Dec.   31   Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.   Mar.                     31                          Acquired 8% Distribution Transformers Corporation bonds costing $460,000 at face value. Sep.                      1                             Acquired $1,080,000 of American Instruments' 10% bonds at face value. Sep.                      30                          Received semiannual interest payment on the Distribution Transformers bonds. Oct.                       2                             Sold the Distribution Transformers bonds for $515,000. Nov.                     1…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.  Mar.   31   Acquired 5% Distribution Transformers Corporation bonds costing $410,000 at face value. Sep.   1   Acquired $915,000 of American Instruments’ 8% bonds at face value. Sep.   30   Received semiannual interest payment on the Distribution Transformers bonds. Oct.   2   Sold the Distribution Transformers bonds for $436,000. Nov.   1   Purchased $1,410,000 of M&D Corporation 3% bonds at face value. Dec.   31   Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are:…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.  Mar.   31   Acquired 8% Distribution Transformers Corporation bonds costing $480,000 at face value. Sep.   1   Acquired $1,140,000 of American Instruments' 10% bonds at face value. Sep.   30   Received semiannual interest payment on the Distribution Transformers bonds. Oct.   2   Sold the Distribution Transformers bonds for $545,000. Nov.   1   Purchased $1,800,000 of M&D Corporation 6% bonds at face value. Dec.   31   Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are           American Instruments bonds $ 1,098,000   M&D…

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, intending to profit from short-term differences in price and manufacturing them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020.   Mar. 31 Acquired 8% Distribution Transformer’s Corporation bonds coating $580,000 at face value. Sep. 1 Acquired $1,440,000 of American Instruments’ 10% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $640,000. Nov. 1 Purchased $2,300,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are   American Instruments bonds       $1,398,000 M&D Corporation bonds              $2,378,000

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, intending to profit from short-term differences in price and maintaining them in an active trading portfolio. Ornamental’s fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $520,000at face value. Sep.   1 Acquired $1,260,000 of American Instruments’ 10% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct.   2 sold the Distribution Transformers bonds for $550,000. Nov.  1 Purchase $2,000,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry (s) relating to the investments. The market prices of the investments are  American Instruments bonds               $1,212,000 M&D Corporation bonds                       $2,072,000…