Indicate any amounts that American would report in is 2024 balance sheet and income statement as a result of these investments. Ignore income taxes. Note: Amounts to be deducted should be indicated with a minus sign. Enter vour answers in millions founded to 1 decirnal place, (1.e., 5,500,000 should be entered as 5.5). Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entry for each transaction or event during 2025 . Note: if no eotry is required for a transactionvevent, select "No journal entry required" in the first account field Enter your answers in militions rounded to 1 decimal place, (1.e, 5,500,000 shosild be entered as 5,5) Journal entry worksheet 3 Record the entry to adjust to fair value the investment in Ferry Intercommunications common shares on the date of sale. Noter finter debita betore ovetu. American Surety and Fidelity buys and seis securities expecting to earn profits on short-term differences in price. For the first 11 months of 2024 , gains from selling trading securcties totaled $8 milion, losses from selling trading securities were $11 milion, and the company had earned $5 million in interest revenve, The following selected transactions relate to American's hivestments tir trading securties and equity secuities during December 2024, and the first week of 2025 . The compony's fiscal year ends on December 31 No trading securities or equity investments were held by American on December 1, 2024. Assume that the bonds are purchased at face value. Decenber 12,2524 Ferchaned Trud Corparation bonds for $12 militeh. not have algnifienht influence over Ferty's operations or polielea. Decenber is, 2024 sold the rric corporation bonds tor 112,1 - mililien. pecenber 23, 2024 Bold half the sharen of rerry Intereommunieationn eommen stoek for 110 nillied. December 26, 2024 sold the 0.\$. Treasury bilis to: $57,5=41110. Decenber 27, 2024 sold the Freasury boode fer $63 mililon. Teriy thtereominieations stock wat 110 per thate. Required: 1. Prepare the approprate journal entry for each transaction or event during 2024 including any year-end adjusting entries 2. Indicate any amounts that American would report in its 2024 bolance sheet and income statement as a result of these imvestments lignore income taxes. 3. Prooare the approprate journal entry for each transaction or event during 2025 Complete this question by entering your answers in the tabs below. Prepare the appropriate journal entry for each transaction or event turing 2024 including any year-end adfubing entries milions rounded to 1 decimal place, (1.e., 5,500,000 shouid be entered as 5,5). Journal entry worksheet
