What is the revenue recognition principle and how is it applied?i need help

What is the revenue recognition principle and how is it applied?

Explain the concept of materiality in accounting.please answer this q

Explain the concept of materiality in accounting.i need answer

Explain the concept of materiality in accounting. Need

What is the difference between a contra asset account and a liability? No ai

What is the difference between a contra asset account and a liability?

Joe transferred land worth $200,000, with a tax basis of $40,000, to JH Corporation, an existing entity, for 100 shares of its stock. JH Corporation has two other shareholders, Ethan and Young, each of whom holds 100 shares. With respect to the transfer:a. Joe has no recognized gain. b. JH Corporation has a basis of $160,000 in the land.c. Joe has a basis of $200,000 in his 100 shares in JH Corporation. d. Joe has a basis of $40,000 in his 100 shares in JH Corporation. e. None of the above.

I need help with this general accounting problem using proper accounting guidelines.