In February, Maria Osgood invested an additional $10,000 in her business, Osgoods Pharmacy, which is organized as
Question:
In February, Maria Osgood invested an additional $10,000 in her business, Osgood’s Pharmacy, which is organized as a proprietorship. Osgood’s accountant, Carl, recorded this as revenue on the income statement. Is this treatment appropriate? Why or why not?
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No this treatment is not proper While the transaction does involve ...View the full answer
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Related Book For 
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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