Question: Please help to solve these 2 questions. Instructions: This section consists of THREE (3) questions. Answer ALL questions. Question 1 The following selected transactions pertain

Please help to solve these 2 questions.

Instructions: This section consists of THREE (3) questions. Answer ALL questions. Question 1 The following selected transactions pertain to Tammy Corporation: Jan. 3 Issued 100,000 shares, $6 par value, common stock for $28 per share. Feb. 10 Issued 70,000 shares, $6 par value, common stock in exchange for a small piece of land. Tammy Corporation's common stock has been actively traded on the stock exchange at $30 per share. Required: Journalize the above transactions. (Total 10 marks) Question 2 London Company accumulates the following data concerning a mixed cost, using miles as the activity level. Miles Driven Total Cost May 10,000 $18,800 June 8,000 13,500 July 6,000 12,500 August 9,000 14,400 Required: (a) Calculate the variable and fixed cost elements using the high-low method. (6 marks) ( b ) The total costs assuming September's miles driven is 14,500. (4 marks) (Total 10 marks)

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