Amalgamated General Corporation is a consulting firm that aiso offers financial services through its credit division. From time to time the company buys and sells securities. The following selected transactions relate to Amalgamated's investment activities during the last quarter of 2024 and the first month of 2025. The only securities held by Amalgamated at October 1,2024 were $50 million of to\% bonds of Kansas Abstractors, Incorporated purchased on May 1, 2024 at face value and held in Amalgamated's trading securities portfolio. The company's fiscal year ends on December 31 . October 15, 2024 Furchosed 2 mil11on shares of Milwork Ventures Conpany cornon stock for ge0 millon. Hillwark has a total of 3d million shares issued. October 31, 2024 Recelved sendannual interest of 53,0 millon from the Kansas Abstractors bonds. Novemer 1, 2024 Purchmsed 10k bonds of Holistic Entertalnent Enterprises at thelr sil million face value, bo be held until they mature in 2034. Semiannual Interest is payable apri1 39 and october 31. Noveeber 1, 2024 sold the Kantas abstractors bonds for s44 million because rising interest rates are expected to caute their fair value to continue to fall. No unreallzed gains and losses had been recorded on these bonds previously. December 1, 2024 Burchased 12% bonds of Housthold plastles Corporatlon at thelr 560 million face value, to be beld untid they mature In 2034. Semlannual Interest is payable Hay 31 and lovvenber 30. December 20, 2024 Purchased U. 5. Treasury bonds for $6.0 millon as trading securitles, hoplng to:earn proflts on short-term differences in peices. Decenber 21, 2024 Purchased 4 million shares of tocs Corporation's 52 million shares of connge stock for \$52 million, 0lannlig to hold these shares until narket conditions encourage their sole. Decenber 23, 2024 sold the Treasury bonds for 56.4 millon. December 29, 2024 kecelved cash dividends of 53 millon from the Hiliork Ventures Company shares of coneon stock. December 31, 2024 mecorded any necessary adjusting entrles relating to the Investatnts. The market price of the Pdiluork Ventures Company common stock was \$27, 50 per share and $14,00 per share for the Nos Corporat lon common stock. The falr values of the bond investmeats were \$59.1 m1lifon for Household plastics Corporatian and $16.6 million for Holistic totertainent Enterprises. January 7, 2025 Sold the Naxs Corporation common skock shares for 148 in111en. Required: Prepare the appropriate joumal entry for each transaction or event. Use one summary entry on December 31 to adjust the portfolio of equify investments to fair value. Note: If no entry is required for a transaction/event, select "No journol entry required" in the first account field. Do not round intermediate colculations. Enter your answers in millions rounded to 1 decimal plece, (i.e., 5,500,000 should be entered as 5.5 ). Journal entry worksheet 5678 Record the purchase of 2 million shares of Millwork Ventures Company common stock for $60 million. Note: Enter debits before credits. Journal entry worksheet 45678 Record the receipt of semiannual interest of $3 million from the Kansas Abstractors bonds. Note: Enter debits before credits. Journal entry worksheet 4 5 6 7 8 16 Record the purchase of 10% bonds of Holistic Entertainment Enterprises at their $18 million face value. Note: Enter debits before credits. Journal entry worksheet
