Identify the GAAP that has been followed or violated in each of the following scenarios.

1- A bank decided not to grant a loan to Mida Hotels after a customer filed a substantial lawsuit. Mida did not include any mention of the lawsuit in the financial statements or in the notes to the financial statements.

2- Rons Food Truck Co. applied a certain accounting policy that allowed the company to report higher assets and net income. A different accounting policy was available that would have resulted in a lower balance of assets and net income.

3- Athena Spa has committed to opening a second location in the next eight months. Details regarding this expansion were included in the financial information.

4- Hera Restaurant Consulting prepaid cash for its annual insurance policy. The amount was expensed on a monthly basis as it was used up.

5- Jacks Hotel had its land appraised at $500,000. The land was listed on the balance sheet at $750,000, which was the price originally paid for it

6- Zeus Greek Food used the same accounting policy for depreciation as last year, even though it could have reported a higher net income by switching to a different method.

7- Ginnys Pub changed the accounting policy used to value property and equipment after using a different policy for 10 years. There was no justification for the change.

8- Bobs Restaurant categorize small expenses such as pens, staplers and notepads together as office supplies expense because the cost of recording them as assets accounts outweighed the benefits.