In February 2020, Xia Lin invested an additional 12,000 in her business, Lins Pharmacy, which is organized
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In February 2020, Xia Lin invested an additional ¥12,000 in her business, Lin’s Pharmacy, which is organized as a proprietorship. Lin’s accountant, Sal Costa, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?
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No this treatment is not proper While the transaction does involve ...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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