In February 2015, Rachel Paige invested an additional $10,000 in Drumlin Company. Drumlins accountant, Liz Cooke, recorded

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In February 2015, Rachel Paige invested an additional $10,000 in Drumlin Company. Drumlin’s accountant, Liz Cooke, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?

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Financial Accounting

ISBN: 9781118334324

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Feb 17, 2014 10:48 AM

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In February 2015, Rachel Paige invested an additional $10,000 in Drumlin Company. Drumlins accountant, Liz Cooke, recorded

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No this treatment is not proper While the transaction doe...View the full answer

Financial Accounting

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