The New Theoretical and Practical Complete Book-Keeping by Double and Single Entry for Use in Business Colleges, Common Schools, High Schools and Academies (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. 1890 Excerpt: ...items in this column are posted daily to the credit of their respective accounts, in the Accounts Receivable or Customers' Ledger, and the footing of the column is posted, at the end of the month, to the credit of Accounts Receivable in the Main Ledger, ""e next column on the left is for the daily cash sales of Mdse., the entries in it being the daily footings of the Cash Sales Book. "3 The footing of this column is posted to the credit of Mdse. at the end of the month. "' The one headed "General" is for such accounts as belong in the General Ledger and have no special columns provided for them. '" The items in this column are posted daily. '"On the right-hand side of the Cash Book under the heading "Consignment Ledger" are two special columns. '" When advances are made on consignments, or net proceeds remitted in cash, an entry is made in the Payments column. '"The commission is entered in the Commission column. "'The last mentioned column is a Journal column and sustains the same relation to the Cash Book as do the contra shipment columns already explained. "7 The entries in these two columns are posted daily to the debit of the consignments to which they belong, in the Consignment Ledger, and '" the footings of these columns are posted to the Main Ledger, at the end of the month. "' These footings are first added and their sum debited to Consignments. '"The footings of the Contra Commission column is carried to the opposite side of the Cash Book and credited to Commission. "' The difference between the two entries on the left-hand side and the one on the right-hand side of the Cash Book is the actual cash remitted on consignments. "3 When it is the practice to ...