Hello I need help with this assignment for intermediate financial accounting 2. Thanks!

Question 1 (18 marks) Tiger Corporation is a public company whose shares are traded on the Toronto Stock Exchange. At the end of 2014, Tiger Corporation had shareholders' equity consisting of the following: Common shares, no par value, unlimited authorized, 10,000 issued, 9,000 outstanding Preferred shares, par value $100, cumulative annual dividends of $8, 2,000 authorized, 500 issued and outstanding Contributed surplus, issue of preferred shares Contributed surplus, common stock warrants (expired) Contributed surplus, repurchase or resale of common shares Treasury shares, common, 1,000 shares Retained earnings Accumulated other comprehensive income $ 150,000 $ 50,000 5,000 9,000 1,000 (6,000) 75,000 5,000 289,000 Notes: Preferred share dividends arrears totalled $4,000. The company uses the single transaction method to account for treasury shares. Stock dividends are not paid on treasury stock. The following transactions took place during 2015: a) On January 15, 1,000 shares were sold from treasury stock for $4,000. (The shares had been reacquired for $6,000 and held as treasury in 2014. The company uses the single transaction method to account for treasury shares.) b) On March 1, 10,000 common shares were issued for proceeds of $170,000. c) On April 30, 2,000 common shares were reacquired and cancelled for $11 per share. d) On May 31, 2,000 common shares were reacquired and cancelled for $22 per share. e) On June 15, 1,000 common shares were reacquired for $23.50 per share and held as treasury stock. (The company uses the single transaction method to account for treasury shares.) f) On July 31, a cash dividend of $1 per share was declared, payable on August 15 to shareholders of record on August 7. The annual dividend on the preferred shares was also declared on July 31 and was also payable on August 15 to shareholders of record on August 7. g) On September 1, a stock dividend of 10% was declared on the common shares, payable on that date. The share price following the issue of the stock dividend was $21 per common share. (Stock dividends are not paid on treasury stock.) h) On November 1, 100 preferred shares were issued for $10,500. Required: Prepare journal entries to record the transactions set out above. Show your calculations. ***** Question 2 (15 marks) At the beginning of 2014, Soufriere Supplies Inc. had only no par value common shares with 1,000,000 shares authorized and 400,000 issued and outstanding. The book value of the shares was $9,600,000. Retained earnings amounted to $880,000. During 2014, the following transactions occurred: On March 1, 2014, the company offered a $1,000,000, 8%, ten-year convertible bond issue to the public. The issue was fully subscribed with proceeds of $1,020,000. Each $100 bond was issued with a detachable stock warrant for the purchase of one of the company's common shares at a price of $40 per share. On the morning after the issue, similar risk bonds were selling to yield 10% and the warrants were selling at $6 each. Each $100 bond could be converted to 2.5 common shares at the option of the holder. Interest is paid on the bonds on February 28 and August 31 each year. The warrants expire one year from the issue date. On April 1, 2014, the company granted 8,000 stock options to company officers and senior employees. The options had a strike price of $45 per share and could be exercised at any time between April 1, 2016 and March 31, 2018, by any of the grantees who were still employed by the company. The company used an options pricing model to value the options at $8 each on the date of the grant. On September 1, holders of 2,500 bonds converted them to common shares. On that date the common shares were trading for $40. On December 31, holders of 4,000 of the warrants exercised the warrants. On that date the common shares were trading for $48. Soufriere Supplies Inc. uses the book value method for accounting for the exercise and/or conversion of its financial instruments. Required: Prepare all 2014 journal entries related to the financial instruments issued during 2014. ***** Question 3 (8 marks) Lambda Limited issued $300,000 of 6%, 10 year, convertible bonds for proceeds of $288,000 on January 1, 2012. Similar non-convertible bonds could have been issued on that date to yield 8% to the purchasers. The bonds can be called at any time for 110% of face value. Each $1,000 bond is convertible into 20 shares of no par value common stock. Interest rates have declined and Lambda is offering the bondholders $50 cash per bond as an incentive to convert. Holders of 75% of the bonds accept the offer on January 1, 2014, when the company's common shares are selling for $55 per share. Interest on the bonds is paid annually on December 31, each year. Lambda uses the effective interest rate method of amortization and the book value method of recording conversions. Required: Prepare Lambda Limited's journal entry to record the bond conversion on January 1, 2014. ***** Question 4 (9 marks) Kappa Corporation had the following shareholders' equity on January 1, 2015: Common shares, 300,000 shares authorized, 100,000 shares issued and outstanding Contributed surplus, purchase and cancellation of common shares Retained earnings $810,000 290,000 700,000 The company also had 100,000 preferred shares authorized but none had been issued. Both common shares and preferred shares are without par value. The following transactions occurred during 2015 (in the order presented): Sold subscriptions for 24,000 common shares for $15 per share with 40% of the price paid on subscription. Received payments for the balance of the subscriptions. All payments were received except for 4,000 shares. When shares were not paid for, the amounts paid to date were forfeited (i.e., no refund was issued). The subscribed shares were issued. Repurchased and retired 50,000 common shares at a cost of $16 per share. Required: Prepare journal entries to record the transactions set out above. END OF ASSIGNMENT