In February 2014, Paula Klink invested an additional $10,000 in Midtown Company. Midtowns accountant, Jon Shin, recorded

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In February 2014, Paula Klink invested an additional $10,000 in Midtown Company. Midtown’s accountant, Jon Shin, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?

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Financial and managerial accounting

ISBN: 978-1118016114

1st edition

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

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Question Posted: Dec 29, 2012 03:28 AM

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In February 2014, Paula Klink invested an additional $10,000 in Midtown Company. Midtowns accountant, Jon Shin, recorded

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

Financial and managerial accounting

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