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Answer each of the following Question 1: A. Olivia Gabriel owns Gabriel Construction Company. On...

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Accounting

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Answer each of the following Question 1: A. Olivia Gabriel owns Gabriel Construction Company. On March 16, the business received $4,000 from services completed that day and $2,800 for a job to be performed in April. 1. How much revenue should Gabriel Construction Company record on March 16? 2, What Generally Accepted Accounting Principle is being followed by Gabriel Construction Company in recognizing revenue? B. In June, Olivia Gabriel ventures into a new industry and opens a restaurant called Gabriel Eating. Olivia must prepare separate financial statements for Gabriel Construction Company as well as Gabriel Eating. This statement describes which Generally Accepted Accounting Principle? C. Gabriel Eating purchased the land on which its building is located during 2019 for $55,000. On December 31, 2020, the land has an appraised value of $61,000. By what amount should the Land account be increased in 2020? 1. 2. What Generally Accepted Accounting Principle is being followed by Gabriel Eating regarding the reporting of the Land

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