You were just hired as the lead accountant for Johnny's Car Shop. Johnny Rico is the owner and sole stockholder. You discover the following odd situations. Which Generally Accepted Accounting Principles does each independent situation seem to violate or relate too? Match the following numbered principle/assumption with a odd situation. 2 Expense Recognition Principle Full Disclosure Principle 3 Measurement Principle Going Concern Assumption Business Entity Assumption 6 Cost-Benefit Constraints 7 Time Period Assumption 8 Revenue Recognition Principle Monetary Unit Assumption Johnny asked that no additional details behind the financial statements be reported anywhere in the statements. Nonet! - Johnny plans on selling the business at the end of the year and he has a potential buyer. The business will not continue in the next year Johnny received a shipment of tools from Ontario, Canada. The invoice was stated in Canadian dollars and it was recorded in the books using Chinese currency (because it was made in China) - Red Robin paid $5,000 for major repair services. The amount was recorded as revenue. The parts for the repair must be ordered from overseas and the service won't be begin until the following month. They bought a empty lot for expansion, for $600,000. It assessed for tax purposes at $500,000. It was recognized by seller easily as being worth $575,000. They recorded the lot in the books for $575,000. Johnny hasn't prepared any financial statements since the business started, because he felt it should only do so when requested by the bank for documentation. Thus, he never prepare monthly or annual statements. Johnny asked that the color of all cars in the repair shop be listed. He realizes there is no benefit for listing the colors, he just likes tool! Johnny asked that the color of all cars in the repair shop be listed. He realizes there is no benefit for listing the colors, he just likes too In December, a check for $1,000 was written to Auto Parts Inc. This amount represents parts for Johnny's personal auto. Johnny paid a mechanic 40 hours and recorded in the books as a wages expense