C Accounting question I Chegg B Homepage ACCT 291 sec o myHuskyNet: Welcome Wiley PLUS C Secure https:// edugenwileyplus.com/ edugen/student/main uni Apps O myHuskyNet: Welc… Twitter Mail Abdullah Al Mail SCSU Collocation a Amazon zenni optical M Wiley Pl Sign In or Sign up l.. C Home Chegg.com LUS Wiley PLUS: MYWleYPLUS I Help I contact us I Wiley PLUS Financial & Managerial Accounting, WileyPLUS Custom Course for St. Cloud State University ACCOUNTING (ACCT 291/292) Home Read, Study & Practice Assignment Gradebook ORION Assignment Open Assignment CALCULATOR MESSAGEMYTNSTRucTOR ULL scREEN PRINTER VERSTON BACK NEXT ASSIGNMENT RESOURCES Exercise 4-3 For each situation, list the assumption, principle, or constraint that has been violated, if any. List only one answer for each situation (a) East Lake Company recognizes revenue at the end of the production cycle but before sale. The price of the product, as well as the amount that can be sold s not certain (b) Hilo Company is in its fifth year of operation and has yet to issue financial statements. (Do not use the full disclosure principle. Exercise 4-19 (c) Gomez, Inc. is carrying inventory at its original cost of $100,000. Inventory has a fair value of $110,000 Review Score (d) Bly Hospital Supply Corporation reports only current assets and current liabilities on its balance sheet. Equipment and bonds payable are reported as Review Results by Study current assets and current liabilities, respectively Liquidation of the company is unlikely. ective (e) Chieu Company has inventory on hand that cost $400,000 Chieu reports inventory on its balance sheet at its current fair value of $425,000. (f) Toxy syles, president of Classic Music Company, bought a computer for her personal use. She paid for the computer by using company funds and debited the Computers account. LINK TO TEXT VIDEO: APPLIED SKILLS Question Attempts: o of 3 used SAVE FOR LATER SUBMIT ANSWER Copyright 2000-2017 by John Wiley & Sons, Inc. or related companies. All rights reserved License Agreement l Privacy Policy I S 2000-2012 lohn Wilew Sons unga All Rights Reserved. A Division of 2chn Wiley & Sons Inca Version 4.22.3.5
