Principles of Bookkeeping: Introductory Course, Illustrating the Journal Method of Closing the LedgerGinn, 1918 - 256 pages |
Contents
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Common terms and phrases
acceptance Accounts Payable Accounts Receivable apply on account assets bill of lading Bought Building and Fixtures Cash Received cashbook check book Cheval Glasses close the ledger Coal column dated City David Lane debit Delivery Equipment deposit Discount on Sales drawee drawer due to-day entered Exercise favor Fill the order Harvey L Henry indorsement Interest Earned Interest Paid invoice journal entry journal paper July ledger accounts ledger paper liabilities Loss account March Mdse MEMORANDA OF TRANSACTIONS merchandise amounting Merchandise Discount Merchandise Inventory Merchandise Purchases monthly bank statement Mortise Locks Notes Payable Office Furniture Office Supplies P. R. Brown pass book payment prices given herewith Profit and Loss promissory note Proprietor purchase book receipt record Rent Paid Rockers sales book Samuel W sheet of journal sight draft Sold Student Take a trial Terms Traders National Bank trial balance Union Bank value received
Popular passages
Page 189 - It is mutually agreed, as to each carrier of all or any of said property over ail or any portion of said route to destination, and as to each party at any time Interested in all or any of said property...
Page 120 - If an agreement for the payment of interest specifies no rate, the highest legal rate in the state where the contract is signed will be understood. In the Commercial World 12 mo. of 30 da. each — 360 da. — are reckoned as 1 yr. In bank discount the exact number of days is used. Throughout the business practice employed in this text the rate will be 6%, based on the commercial year of 360 da. This method is not exact, but it is the most common because the most convenient. It has been legalized...
Page 189 - Received, subject to the classifications and tariffs in effect on the date of issue of this original bill of lading. At Ithaca, Mich., 18-1, 1911, from owner* the property described below, in apparent good order, except as noted (contents and condition of contents of packages unknown...
Page iv - Certified Check. A check that has been accepted by the bank on which it is drawn, thereby making the bank security for its payment.
Page 177 - ... a draft or bill of exchange, drawn by the seller on the purchaser of goods sold,* and accepted by such purchaser.
Page 126 - March, close the cashbook, the sales book, and the purchase book. The careful bookkeeper checks his work at every step. Check all additions before writing the results in ink. A simple way to check addition is to add the columns in reverse order. If the results agree, the work may be assumed to be correct. Post the books to the ledger. Post to the same accounts as in March. If any new accounts are to be added, allow one third of a page for each. Foot the ledger accounts. Take a trial balance ; after...
Page xii - ... and all others concerned therein, for exchange, re-exchange, and all costs, charges, damages, and interest, suffered and sustained, or to be suffered and sustained, by reason or in consequence of the nonpayment of said bill.
Page iv - One who acts for or in place of another by authority from him; a substitute, a deputy, appointed by principal with power to do the things which principal may do.
Page 213 - Boston, Mass., May 25, 19 — Mr. KP Shedd Syracuse, NY Dear Sir : We have this day drawn upon you at sight, in favor of 0. M. Behrns & Co., of your city, for Three Hundred Fifty (350) Dollars.
Page iv - House. An institution in a city where daily settlements are made between banks by the mutual exchange of checks, drafts, etc, the difference between such exchanges being paid in cash. Collateral. A security additional to the personal obligation. Common Carrier. One who undertakes the office of carrying either goods or persons for hire. Copartnership. The voluntary association or joining of two or more persons in a business enterprise. The same as partnership. Copyright. A right of control granted...