New Modern Illustrative Bookkeeping: Introductory CourseAmerican Book Company, 1918 - 152 pages |
From inside the book
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Page 10
... entered on the left side of an account , while an item which is credited is entered on the right side . Account Defined . - An account is a group of items of the same class . It has two sides , the left side being for debits to the ...
... entered on the left side of an account , while an item which is credited is entered on the right side . Account Defined . - An account is a group of items of the same class . It has two sides , the left side being for debits to the ...
Page 15
... entered on the smaller side of the account in red ink to bring the two sides into agreement prior to ruling the account . The balance is then transferred to the opposite side of the ac- count , generally in black ink , although many ...
... entered on the smaller side of the account in red ink to bring the two sides into agreement prior to ruling the account . The balance is then transferred to the opposite side of the ac- count , generally in black ink , although many ...
Page 17
... entering the difference in pencil on the larger side and on a line with the last item . Personal accounts should be balanced at the end of the fiscal period at the time of clos- ing the books , in the same way that the Cash account is ...
... entering the difference in pencil on the larger side and on a line with the last item . Personal accounts should be balanced at the end of the fiscal period at the time of clos- ing the books , in the same way that the Cash account is ...
Page 28
... entered in some form of a pur- chases book or voucher register . This account is then debited only at the close of each month with the total purchases for the month . Credit : At cost price with merchandise returned by the business for ...
... entered in some form of a pur- chases book or voucher register . This account is then debited only at the close of each month with the total purchases for the month . Credit : At cost price with merchandise returned by the business for ...
Page 43
... entering in the ledger : first , the amount of the debit or credit ; second , the folio ; third , the explanation , if any is desired ; and fourth , the date . The entries in this exercise are now to be posted in accordance with the ...
... entering in the ledger : first , the amount of the debit or credit ; second , the folio ; third , the explanation , if any is desired ; and fourth , the date . The entries in this exercise are now to be posted in accordance with the ...
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Common terms and phrases
30 days 60-day note acceptance Accounts Payable Accounts Receivable Adams Adjusting Entries apply on account April assets Axminster Balance Sheet Bank discounts bill of lading bookkeeping books of original Bought Bros cash book Cash sales check book Check favor closing entries cost credit side creditors debits and credits December 31 deposit double entry drawn EXERCISE Expense Face of note flour at $8 Freight and Cartage furniture and fixtures Henry indorsement Interest on Notes inventory investment invoice January journal entry June June 25 ledger accounts liabilities Loss account Loss Statement merchandise amounting month National Bank note at 30 note due to-day Notes Receivable Office wages original entry personal accounts prepaid Profit and Loss promissory note proprietor purchases journal Real Estate receipt Receive check receive note Received cash record rent salary sales journal Sold Stone & Co transaction trial balance
Popular passages
Page 93 - Received, subject to the classifications and tariffs in effect on the date of the issus of this bill Of lading, at , 191 ... from the property described below, in apparent good order, except as noted (contents and condition of contents of packages unknown...
Page 93 - It is mutually agreed, as to each carrier of all or any of said property over all or any portion of said route to destination, and as to each party at any time interested in all or any of said property, that every service to be performed hereunder shall be subject to all the conditions, whether printed or written, herein contained (including conditions on back hereof) and which are agreed to by the shipper and accepted for himself and his assigns.
Page 102 - ... writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay in the United States, at a fixed or determinable future time, a sum certain in dollars to the order of a specified person; and a trade acceptance is defined as a draft or bill of exchange, drawn by the seller on the purchaser of goods sold,2 and accepted by such purchaser.
Page 138 - The difference between the sum of the resources and the sum of the liabilities represents the net investment, or net capital, of the business.
Page 93 - ... the property described below, in apparent good order, except as noted (contents and condition of contents of packages unknown), marked, consigned, and destined as indicated below, which said company...
Page 145 - What are the journalizing rules for personal accounts? (2) (b) Mention two kinds of entries that may appear on the debit side of the proprietor's account. (2) (c) What is the difference in meaning between " draw at sight in 10 days " and " draw at 10 days
Page 93 - ... shipment is to be delivered to the consignee without recourse on the consignor, the consignor shall sign the following statement: The carrier shall not make delivery of this shipment without payment of freight and all other lawful charges. (See Section 7 of conditions.) [signature of consignor] If charges are to be prepaid, write or stamp here, "To Be Prepaid.
Page 19 - A promissory note is a promise in writing to pay a certain sum of money at a definite time.
Page 94 - The surrender of this original order bill of lading properly indorsed shall be required before the delivery of the property. Inspection of property covered by this bill of lading will not be permitted unless provided by law or unless permission is indorsed on this original bill of lading or given in writing by the shipper.