Guthrie Company receives orders from customers and records revenue at that time, even though it has not yet delivered products or services to the customers. what accounting assumption violate and how it should be done? Because of inflation, Cross Company adjusts its financial statements each year to show the current purchasing power for all items.what accounting assumption violate and how it should be done? David Thomas combines his personal transactions and business transactions when he prepares his company’s financial statements so that he can tell how well he is doing on an “overall” basis.what accounting assumption violate and how it should be done? At the end of each year, Vann Company reports its economic resources on a liquidation basis even though it is likely to operate in the future. what accounting assumption violate and how it should be done?

Gamestop Corp. said the following about its gift card sales in its most recent (2019) annual report:“We establish a liability upon the issuance of merchandise credits and the sale of gift cards. Revenue is subsequently recognized when the credits and gift cards are redeemed.”When Gamestop sells a gift card to a customer, what is the impact on Gamestop’s financial statements?     Cash increases and the Income Statement increases     Cash increases and Inventory decreases     Cash increases and Liabilities increase     Cash decreases and the Income Statement decreases     No effect because the customer has not yet used the gift card

What is the adjusted balance of Accounts Payable on December 31,2021?

Use Newell Brands, Inc.'s financial statement information to answer the following questions. Provide the following account balances for Newell Brands :     December 31, 2020 December 31, 2019 Accounts Receivable (gross)     Allowance for Doubtful Accounts     Accounts Receivable, net     Which of the above numbers represents the total amount Newell Brands is owed by customers as of December 31, 2020?    Which of the above numbers represents the amount that Newell Brands believes it will not collect from its customers as of December 31, 2020?        Which of the above numbers represents the amount that Newell Brands believes it will collect from its customers as of December 31, 2020?        Provide the journal entry (both accounts and amounts) that Newell Brands must have made to record its estimate of Bad Debt Expense in 2020.                  Provide the journal entry (both accounts and amounts) that Newell Brands must…