The whole science of double-entry book-keeping1852 |
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The Whole Science of Double-Entry Book-Keeping: Simplified by the ... Daniel Sheriff Sin vista previa disponible - 2018 |
Términos y frases comunes
9 Brig April April 23 Balance account Balance Sheet becomes debtor Bills Payable Bills Receivable Brig Maria Cash Book Cash Dr Cash paid Cockshott Commission Company 1 Merchandise cost creditor side Daniel Sheriff Day-book entries Day-book-June Day-book.-April Day-book.-March Day-book.-May debited debtor or creditor debtor side debtors and creditors Discount and Interest Double-Entry Book-Keeping Elucidation Elucidation.-The favor gain George Ash George Ledlie Halloran's Coffee Invoice Book John Anderson John M'Cambridge John Miller John Smiley Journal entry Journal.-Sundries Dr Journalisation June 30 Ledger Lisle & Stevinson Loss account March Merchandise Dr Merchandise is creditor Note Paid Cash payment Profit & Loss Profit and Loss Property and Debts Ques Robert Henderson Robert Turner Sales Book Samuel Baxter Shipment to Demerara Shipment to Glasgow Shipment to Liverpool Sold Flax Sundries Dr sundry persons Thomas Jackson Thomas Peden transaction transferred Trial Balance Warehouse Expenses Warehouse Fixtures William Moon
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Página 24 - Elucidation. — Austen is debtor, because he owes us, we having paid him the amount that we owed him. Bills payable are creditor, because the note to which that name is given, has paid Austen for us, therefore we owe it. Observe — It may appear absurd to some, to say that Austen, in the above transaction, owes us. It is nevertheless true, and is proved thus : — Before we paid him, we owed him $1,500 ; after we paid him, he owes us...
Página 39 - Rue, having been sold, we proceed to close or settle the account that was opened for them. The first object is to obtain the gross amount of sales; these are exhibited on the creditor side of the account, for the goods become creditor when we sell them, because they then produce value. Each sum upon the creditor side of the account should be examined in the Day-book, in order to know...
Página 27 - Debtor for the amounts in the lines with their names, we return to the page upon which their accounts were opened (page 1,) and write on the Debtor side, in the first two columns, the date; in the third, the opposite part of this entry (To Bills Payable); in the fourth column, the page of the Journal from which the amounts are brought; and in the fifth and sixth, the sums for which they, Turner and Sheriff, are debtor.
Página 25 - ... conceive, that what is called Dr. must be owing to us, and vice versa. But who does not, after a few trials, abandon this idea, from finding his efforts to make sense of it fruitless ? In fairness however to the author, we give, in his own words, his application of his rule to the above transaction. " Elucidation. — The Sundries are debtor, because they owe us for the amount of value that the hardware has produced ; for the production consists in Lovell and Cash. " Hardware is creditor, because...
Página 31 - Profit and Loss is debtor, because our business, receiving that title, owes us for the loss it has caused. Bills Receivable are creditor, because we owe the old Note, for paying us the amount for which we held it responsible. There are two Notes in this transaction, the order...
Página 120 - Ques. Why is it that we never see the word Cr. in the Journal entries ? Ans. It is because the word Dr. distinguishes the debtors from the creditors; therefore, both are shown without the word Cr. Ques. Who or what do the " Sundries" owe—for instance, in the Journal entry of March 19 and April 23 ? Ans.
Página 123 - Ques. Why may a Balance Sheet suffice for the full closing of the accounts ? Ans. Because every particular relating to the business, or the circumstances of the concern, is shown with the same precision as though the accounts were all closed. Ques.
Página 122 - Trial Balance ? Ans. The detection of errors; for the total of the debtor balances, and the total of the creditor balances, should be the same in amount, their not being equal is a sure evidence of error. Ques.
Página 44 - Coffee should be posted to the account, then by examining the nature of each sum on the creditor side of the account, we ascertain them all to be sales of the Coffee, the total of which is £ 1,053 ; from which we take all the charges we have against it.
Página 42 - Day-book, in order to know if each is brought there by a sale of the property ; if they are all sales, then the amount of the creditor side is the amount of total sales...