In February 2014, Maria Osgood invested an additional $10,000 in her business, Osgood's Pharmacy, which is organized as a proprietorship. Osgood's accountant, Carl Sota, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?
Answer to relevant QuestionsSaylor Enterprises had a capital balance of $168,000 at the beginning of the period. At the end of the accounting period, the capital balance was $198,000.(a) Assuming no additional investment or withdraw als during the ...Presented below is selected information related to Howard Company at December 31, 2014. Howard reports financial information monthly.Accounts Payable ............. $ 3,000Cash ................... 4,500Advertising Expense ...An analysis of the transactions made by Liam Agler & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $650 for rent, $4,800 for salaries and wages, and $500 for ...On April 1, Renato Uhrig established Renato’s Travel Agency. The following transactions were completed during the month.1. Invested $15,000 cash to start the agency.2. Paid $600 cash for April office rent.3. Purchased ...Amazon.com, Inc.’s financial statements are presented in Appendix D. Financial state-ments for Wal-Mart Stores, Inc. are presented in Appendix E. Instructions for accessing and using the complete annual reports of Amazon ...
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