In February 2020, Ola Gott invested an additional $12,000 in her business, Gotts Pharmacy, which is organized
Question:
In February 2020, Ola Gott invested an additional $12,000 in her business, Gott’s Pharmacy, which is organized as a proprietorship. Gott’s accountant, Sal Costa, recorded this receipt as an increase in cash and revenues. 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 
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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