American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For the first il months of 2021. gains from selling trading securities totaled $8 million, losses from selling trading securities were $11 million, and the company had earned $5 million in interest revenue. The following selected transactions relate to American's investments in trading securities and equity securities during December 2021, and the first week of 2022. The company's fiscal year ends on December 31. No trading securities or equity investments were held by American on December 1, 2021 Assume that the bonds are purchased at face value 2021 Dec. 12 Purchased FF&G Corporation bonds for $12 million. 13 Purchased 2 million shares of Ferry Intercommunications common stock for $22 million. American does not have significant influence over Ferry's operations or policies. 15 Sold the FFR6 Corporation bonds for $12.1 million. 22 Purchased 3.5. Treasury bills for $56 million and Treasury bonds for $65 million. 23 Sold half the shares of Ferry Intercommunications common stock for $10 million. 26 sold the U.S. Treasury bills for $57 million. 27 Sold the Treasury bonds for $63 million 25 Received cash dividends of $200,000 from the Ferry Intercommunications common stock shares. 31 Recorded any necessary adjusting entry relating to the remaining investment. The market price of the Ferry Intercommunications stock was $10 per share. Jan, 2 sold the remaining Ferry Intercomunications common stock shares for $10.2 million 5 Purchased Warehouse Designs Corporation bands for 534 million. Required: 1. Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. 2. Indicate any amounts that American would report in its 2021 balance sheet and income statement as a result of these investments 3. Prepare the appropriate journal entry for each transaction or event during 2022 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 induding any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (L.e., 5,500,000 should be entered as 5.5). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 B .... 13 Record the purchase FFBG Corporation bonds for $12 million Note Enter debits before credits General Journal Debit Credit Date December 12 2021 Record entry Certy View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (1. 5,500,000 should be entered as 5.5):) View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 2 3 5 6 7 8 13 > Record the entry for sale FF&G Corporation bonds for $12.1 million. Note: Enter debts before credits General Journal Debit Credit December 15 2021 Record entry Cherry View general Journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare the appropriate journal entry for each transaction or event during 2021 Induding any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (le, 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 6 7 8 13 1 2 Record the purchase U.S. Treasury bills for $56 million and Treasury bonds for $65 million Note Edebita bore credits Debit Credit General Journal Date December 22 2021 Recordatory Ceremy View general journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in decimal place, (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 2 3 4 5 02 7 8 13 Record the entry to adjust to fair value the investment in Ferry Intercommunications common shares on the date of sale. Note: Enter debits before credits. Date General Journal Debit Credit December 23 2021 Record entry Clear entry View general journal Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 Including any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to decimal place, (... 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (... 5.500,000 should be entered as 5.5)) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to i decimal place, (.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 5 8 9 10 13 > Record the entry to adjust to fair value the investment in U.S. Treasury bonds on the date of sale. Notes Enter debits before credits General Journal Debit Credit Date December 27 2021 Record entry Clearly View general Journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in millions rounded to 1 decimal place, (1.0, 5.500,000 should be entered as 5.5).) View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (1.0, 5.500.000 should be entered as 5.5).) View transaction fist Journal entry worksheet 8 9 10 11 12 13 Record the entry for cash dividend received of $200,000 from the Ferry Intercommunications common shares Nintenter debits before credo General Journal Debit Credit December 28, 2021 Record entry Clear entry View general journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2021 including any year-end adjusting entries. (ir no entry is required for a transaction/event, select "No journal entry required in the first account field, Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5)) View transaction fist Journal entry worksheet 1 6 7 8 9 10 11 12 13 Record the entry to adjust fair value of the investment at year-end. Not: Enter debits before credits General Journal Debit Credit Date December 31 2021 Record entry Clearly View general Journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Indicate any amounts that American would report in its 2021 balance sheet and income statement as a result of these Investments. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place, (1.e., 5,500,000 should be entered as 5.5).) (S in millions) Balance sheet Current Assets Total Income statement Other revenue (expenses) Total interest and dividend revenue Gain (los) on investments Total other revenue (expenses) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the appropriate journal entry for each transaction or event during 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place, (i.e., 5,500,000 should be entered as 5.5).) View transaction list Journal entry worksheet 1 2 3 Record the entry to adjust to fair value the investment in Ferry Intercommunications common shares on the date of sale. Note Enter debts before credits General Journal Debit Credit Dante January 02, 2022 Record entry Clear entry View general journal