ACC202WA1EXCELCH12 - Student Name: Thomas Baker Class:...

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Student Name: Thomas Baker Class: ACC-202 Problem 12-07 AMALGAMATED GENERAL CORPORATION General Journal ($ in millions) Account Debit Credit 2011 October 18 Investment in Millwork Ventures preferred shares 58 Cash 58 «- Correct! October 31 Cash 1.5 Investment revenue 1.5 «- Correct! November 1 Investment in Holistic Entertainment bonds 18 Cash 18 «- Correct! November 1 Cash 28 Loss on sale of investments 2 Investment in Kansas Abstractors bonds 30 «- Correct! December 1 Investment in Household Plastics bonds 60 Cash 60 «- Correct! December 20 Investment in U.S. Treasury bonds 5.6 Cash 5.6 «- Correct! December 21 Investment in NXS common shares 44 Cash 44 «- Correct! December 23 Cash 5.7 «- Correct! Investment in U.S. Treasury bonds 5.6 Gain on sale of investments 0.1 December 29 Cash 3 Investment revenue 3 «- Correct! December 31 Accrued interest: Investment revenue receivable - Holistic Entertainment 0.3 Investment revenue receivable - Household Plastics 0.6 Investment revenue 0.9 «- Correct! Revaluations: Net unrealized holding gains and losses-OCI 3 Fair value adjustment 3 «- Correct! Fair value adjustment 2 Net unrealized holding gains and losses-I/S 2 «- Correct! Closing entry:
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ACC202WA1EXCELCH12 - Student Name: Thomas Baker Class:...

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