Reference no: EM131033739
QUESTION 1 - Gabrial Ltd. was incorporated on February 1, 2014 and is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during the year:
Feb 10- Issued 30,000 common shares for $2.30 per share.
Feb 21- Issued 4,000 common shares to the company's accountants as payment for a bill of $18,000 for services performed in helping the company to incorporate.
Mar 16- Issued 1,000 preferred shares for $95 per share.
Sep 10- Reacquired 3,000 common shares for $1.75 per share.
Instructions: Prepare the journal entries to record the above transactions.
QUESTION 2 - Walters Accounting Company receives its annual property tax bill for the calendar year on May1, 2015. The bill is for $32,000 and payable on June 30, 2015. Walters paid the bill on June 30, 2015. The company prepares quarterly financial statements and had initially estimated that its 2015 property taxes would be $30,000.
Instructions: Prepare all the required journal entries for 2015 related to the property taxes.
|
Comprehensive annual financial report
: This question is based on the Comprehensive Annual Financial Report (CAFR) for the City of Atlanta for the fiscal year ended June 30, 2015. This report is posted in the same D2L folder as this assignment.
|
|
Listening skills-often misunderstanding occurs on job
: Listening skills; often when a misunderstanding occurs on the job, it is attributed to a lack of communication, which most of time implies that whoever was delivering the message did not do an effective job. But what about the other side, the listene..
|
|
Compare australia with any other economy
: Carbon Tax/Emission Trading scheme - Compare Australia with one of these countries or group of countries like Europe, USA and China/India and discuss the similarities or differences in ETS and its affect on the economy.
|
|
Prepare the journal entries to record the transactions
: Gabrial Ltd. was incorporated on February 1, 2014 and is authorized to issue an unlimited number of preferred and common shares. Prepare the journal entries to record the above transactions
|
|
Prepare the journal entries to record the transactions
: Gabrial Ltd. was incorporated on February 1, 2014 and is authorized to issue an unlimited number of preferred and common shares. Prepare the journal entries to record the above transactions
|
|
Business communication needs to become interpersonal again
: Business communication needs to become interpersonal again. No matter how we believe our human forms came into existence, we were built to need personal contact and function best with face-to-face communication. As children, we desired comfort from t..
|
|
Intention of getting the patent transferred to their firm
: A talented engineer named John works in a large automotive firm. He has been working on task of building sensors for the automated cars. After extensive work and research, he builds high end sensors for which he plan to get patent with his firm. As s..
|
|
Calculate modified book income for the current year
: Identify the items above as temporary or permanent differences. Calculate'the deductible portion of the charitable contribution and the carry forward. Calculate modified book income for the current year
|
|
What would we expect to happen to the quantity purchased
: Suppose the price elasticity of cigarette demand is -0.40. If we increased the price of cigarettes by 50%, what would we expect to happen to the quantity purchased? To total expenditures on cigarettes?
|