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Metropolitan System of Bookkeeping; Embracing Theory and Practice of Bookkeeping and Accounting for High Schools, Parochial Schools, Academies and All Other Schools Teaching the Subject (Paperback) Loot Price: R476 Discovery Miles 4 760
Metropolitan System of Bookkeeping; Embracing Theory and Practice of Bookkeeping and Accounting for High Schools, Parochial...
Metropolitan System of Bookkeeping; Embracing Theory and Practice of Bookkeeping and Accounting for High Schools, Parochial...

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Metropolitan System of Bookkeeping; Embracing Theory and Practice of Bookkeeping and Accounting for High Schools, Parochial Schools, Academies and All Other Schools Teaching the Subject (Paperback)

William Adam Sheaffer

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Loot Price R476 Discovery Miles 4 760

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1916 Excerpt: ...are kept for general ledger accounts, the General and the Expense. All amounts that are to be posted to accounts in the general ledger, except Expense, are placed in the General column. All Expense items are placed in the Expense column and posted monthly only. Check, in the folio column, all items entered in the Expense column. In the Accounts Payable column is placed any amount that is to be posted to the debit of an account in the purchase ledger. The payment of an account less discount is entered on the same principle as the entry for the receipt of cash for an account less discount. Monthly, the total of the Accounts Payable column is posted to the debit of the Accounts Payable account in the general ledger to represent the various items that have been posted to the debit of creditors' accounts in the purchase ledger. Purchases Discount must be credited monthly for the total of the Purchases Discount column. In closing the cash book, the sum of the first two columns on the Cash Receipts side must be proved with the sum of the last two columns, and the accounts affected shown. On the Cash Payments, the sum of the first three columns must be proved with the sum of the last two columns, and the accounts affected must be shown. The cash book must then be balanced by using the amount of the Cash Dr. and Cash Cr. columns only. To prove cash, at any time, take the difference between these two columns. The cash book illustrated is shown without the pages in the folio column. These should be inserted as each item is posted. The Journal. Separate columns must be kept in the journal for each ledger to which items will be debited or credited. On the debit side, there must be columns for the general ledger and for the purchase ledger. No debit column for the sales ...

General

Imprint: Rarebooksclub.com
Country of origin: United States
Release date: March 2012
First published: March 2012
Authors: William Adam Sheaffer
Dimensions: 246 x 189 x 6mm (L x W x T)
Format: Paperback - Trade
Pages: 116
ISBN-13: 978-1-130-09501-2
Barcode: 9781130095012
Categories: Books
LSN: 1-130-09501-0

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