In February 2019, Rachel Paige invested an additional $10,000 in Drumlin Company. Drumlin's accountant, Liz Cooke, recorded

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In February 2019, 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: 978-1119305736

10th edition

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

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Question Posted: Mar 29, 2017 11:35 AM

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In February 2019, Rachel Paige invested an additional $10,000 in Drumlin Company. Drumlin's accountant, Liz Cooke, recorded

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

Financial Accounting

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