Identify which accounting principle or assumption best describes each of the following
a.) in december 2012, chavez landscaping received a customer's order and cash prepayment to install sod at a new house that would not be ready installation until march 2013. chavez should record the revenue from the customer order in march 2013, not in december 2012.
b.) if $51,000 cash is paid to buy land, the land is reported on the buyers balance sheet at $51,000
c.) jo keene owns both sailing passions and dockside supplies. in preparing financial statements for dockside supplies, keene makes sure that the expense transactions of sailing passions are kept separate from dockside's transactions and financial statements

Oliver is the vice president of production at his company and has been managing the launch of new software systems. he worked with a team of individuals who were tasked to create awareness about a specific product and also to approach potential purchasers of the product. which department managers were part of oliver’s team?

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar. spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements. cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery. rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer. gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life. esquire company provides financial statements to external users every three years.

The petty cash fund has a current balance of $ 350, which is the established fund balance. based on activity in the fund, it is determined that the balance needs to be changed to $ 450. which journal entry is needed to make this change?