for Vidlatonsoe pruneples Instructions: Each of the situations below may Bustrate a iolation of an accounting assumption or principle. Indicate the assumption or principle that is most Glearly violated using the following A. Economic entity assumption B. Monetary unit assumption C. Periodicity assumption D. Going concern assumption E. Revenue recognition principle F. Expense recognition principle G. Materiality H. Full disclosure principle I. Cost principle No of operating guidelines Situations Dollar Saver has 20,000 Model 44G cell phones in inventory at a cost of $64 each. Due to the advancement of technology and newer models avalable, only 4 of Model 44G phones were sold last month. To avoid recognizing a loss on writing off this inventory, Dollar Saver has decided not to issue financial statements until at least half 1. of the remaining Model 44G phones have been sold. Homer Bates, president of Bates Machinery, took an iPod Touch out of inventory to Wilson, Inc. made no entry to record depreciation on its equipment for 2014 investment was reported as revenue on the 2014 income 2. use as a birthday present for his son. The cost was debited to Supplies Expense. 4. Stockholders invested an additional $43,000 cash in the business in 2014. This 5. Toys, Inc. is being liquidated because it has sustained losses for the past few years. t 6. Counters Galore values its pre-made granite it has on hand at its expected selling 3. continues to depreciate its assets and prepare financial statements on the cost basis. price since this is the amount the company will receive from customers when it sells the counters to customers. The granite's expected selling price exceeds the prioe Counters Galore paid for it. 7. Rand Enterprises developed a fuel cell that will run on sea water, while providing equal performance to other fuels. Rand has chosen to defer the release of the new product to the public until it has enough capital to fund the production. 8. Darzion Products reports its inventory based on euros for its stores in Great Britain when issuing financial statements for British banks when loans are needed. cost $180 and was decorated with the company's logo. Dalani's policy is to expense all assets costing less than $200. Dalani recorded the cost of the chairs as an 9. Dalani Water bought 700 new desk chairs, one for each of its employees. Each chair expense due to its policy