A Text-Book of Book-Keeping (Paperback)

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. 1886 Excerpt: ...is meant by " bringing down the balance"?. When is an account said to be " balanced "? What is meant by "balancing the ledger"? What is a Trial Balance? What is a Balance Sheet? 3. Every transaction must be between two persons: J. Smith makes an entry " R. Brown Dr. to Goods," who are the two persons interested in the transaction so recorded? 4. What errors are not checked by balancing the ledger, and how are they guarded against in practice? 6. The credit side of my Cash Book has the greater total. What conclusion ought I to draw from this circumstance? 7. How does the "double entry" of transactions ensure the accuracy of the book-keeping? In what respects is the check so gained deficient? 8. What errors can exist in a Ledger after it is balanced? 9. Assuming that no entries or transfers are to be made in the Ledger except as posts from the Journal, show how to rectify the following errors: --(a.) I have posted 30 to the Dr. of John Browne instead of to the Dr. of William Brown. (6.) I have journalised "Cash Dr. to Thos. Smith 21 16s. oi," when the amount should have been 22 16s. od. (c) I have posted 23 to the Dr. of Goods and the Cr. of J. Jones instead of to the Cr. of Goods and the Dr. of Jones, (4) I have posted from the entry "Goods Dr. to W. Johnson" to the right side of Goods Account but not at all to the account of Johnson, (e.) I have posted 67 to the Dr. of John Brown instead of to the Cr., but have taken the amount to the right side of Goods Account. E, 1. A has the following entry in his journal: --John Thompson Dr. to Bills Payable 500 (accepted the draft of Jacob Simpson on his account)." Give the journal entries which John Thompson a...