Question: 1. Identify which GAAP has been violated: 5 a) A Customer called and made arrangements for Jay's plumbing to provide $6000 of services next month.

1. Identify which GAAP has been violated: 5 a) A Customer

1. Identify which GAAP has been violated: 5 a) A Customer called and made arrangements for Jay's plumbing to provide $6000 of services next month. Jay the owner recorded revenue of $6000 this month. No cash was exchanged. b) Land was purchased for $50,000. The bank appraised it for loan purposes at $68000. Therefore, the owner of land recorded it on the balance sheet at $68000. c) Delco's owner buys personal supplies and charges them to company. d) The owner of Dallas Pizza and Don's Deli combines all transactions by keeping one set of accounting records for both businesses e) The business provided overseas consultancy services. This revenue is recorded on the income statement without converting the foreign currency to CAD

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