QUESTION 4 (10 marks) For each of the following transactions, state the accounting principle that has been applied or violated and provide an explanation. (a) A company bought a pocket-sized calculator costing $50 and had a useful life of 2 years, The accountant recorded the depreciation expense per year as follows: $25 Dr Depreciation expense - Calculator Cr Accumulated depreciation - Calculator $25 (5 marks) () Name of Principle. (ii) Indicate whether the Principle has been APPLIED or VIOLATED. (iii) Explanation. (b) Johnson Ltd received an order for the sale of 200 computers at $10,000 each on January 1, 2020. The customer paid a 40% on January 20, 2020. Johnson Ltd did not record any revenue until February 1, 2020, the date on which the computers were delivered to the customer. (5 marks) (i) Name of Principle. (ii) Indicate whether the Principle has been APPLIED or VIOLATED. (iii) Explanation. - END OF PAPER