Alessandro Bega withdrew $8,000 from his business, Bega Pharmacy, which is organized as a proprietor- ship. Bega's

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Alessandro Bega withdrew $8,000 from his business, Bega Pharmacy, which is organized as a proprietor- ship. Bega's accountant recorded this withdrawal as an increase in an expense and a decrease in cash. Is this treatment correct? Why or why not?

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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: May 16, 2017 09:41 AM

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Alessandro Bega withdrew $8,000 from his business, Bega Pharmacy, which is organized as a proprietor- ship. Bega's

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No this treatment is not proper While the transaction does involve a disburse...View the full answer

Accounting Principles

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