In February Ola Gott invested an additional 12,000 in her business, Gott's pharmacy, which is organized as a proprietorship. Gott's accountant, Sal Costa, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?

In February Ola Gott invested an additional 12,000 in her business, Gott's pharmacy, which is organized as a proprietorship. Gott's accountant, Sal Costa, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 1CP

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