The accountant of a goldmining company in Western Australia has to make a decision about whether to
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The accountant of a goldmining company in Western Australia has to make a decision about whether to record an accounting transaction or not. The goldmining company discovered an extremely rich seam of gold as a result of exploration activities, 50 kilometres away from its already existing mines. This information, when released to the public, caused the share price of the company to jump considerably. What entries (if any) should the accountant make in the ledger of the company? Why?
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The accounting records for equity do not show increases in the market prices of ...View the full answer
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Related Book For 
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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