Explain how Beachside Ltd should account for the following items/situations, justifying your answer by reference to the Conceptual Frameworks definitions and recognition criteria.

(i) Beachside Ltd is the guarantor for an employees bank loan:

1. You have no reason to believe the employee will default on the loan.
2. As the employee is in serious financial difficulties, you think it likely that he will default on the loan.

(ii) Beachside Ltd receives 5 000 shares in Monty Ltd, trading at $6 each, as a gift from a grateful client.

(iii) The panoramic view of the coast from Beachside Ltd.s caf windows, which you are convinced attracts customers to the caf.

(iv) The court has ordered Beachside Ltd to repair the environmental damage it caused to the local river system. You have no idea how much this repair work will cost.