Bryant & Stratton's National Book-keeping: an Analytical and Progressive Treatise on the Science of AccountsIvison, Phinney, Blakeman & Company, 1864 |
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Common terms and phrases
Account Sales April Balance account bbls Bills Payable Bills Receivable Bo't BOOK,-SET Bryant & Stratton bushels capital Cash Book Cash Dr Cassimere Commission Day Book debits and credits difference discount Dollars Double Entry draft E. G. Folsom EAST RIVER BANK Expense favor Flour gain or loss H. B. Bryant H. D. Stratton Hope & Co investment Invoice Invoice Book J. D. Comstock J. D. Williams J. R. Wheeler James Mason Journal July Ledger Ledger accounts Loss and Gain Mdse method months Mortgage Payable Niles & Kinne Paid cash Paid Freight partners Peter Cooper petty Cash-Book Pliny Moore proceeds Received Cash represent resources and liabilities Riverdale Farm S. G. Payn S. S. Packard Sales Book shipped shown Single Entry sold on joint statement Steamer Empire Stock account Store and Fixtures Sundries transactions Trial Balance Union Bank Stock unsold YORK
Popular passages
Page 21 - Panizzi was one of those who felt sincerely that " whatever is worth doing at all is worth doing well...
Page 206 - Multiply ear.h man's stock by the time he continues it in trade : then say, as the, sum of the products is to each particular product, so is the whole gain or loss to each man's share of the gain or loss.
Page 101 - ... footings of Ledger accounts, second, for Gains and Losses, third, for Stock — or if partners, for each partner — and fourth, for Resources and Liabilities ; also, for a single money column for Inventories, and for the Ledger titles and their Ledger folios. The position of these columns you will see in the example given. These spaces can best be appropriated by using a pair of dividers, and giving each of the captions its just proportion. After denoting the proper space for each heading —...
Page 198 - Worth of a debt, payable at a future time without interest, is such a sum as, being put at legal interest, will amount to the given debt when it becomes due.
Page 199 - Multiply the amount of the smaller side by the number of days between the two average dates, and divide the product by the balance of the account. The quotient will be the time...
Page 33 - An entry in red ink on the Ledger, denotes that the amount thus written is to be transferred, either to some other account, or to another position under the same account It also shows that the entry is first made in the Ledger, not having passed through the usual preliminary books of entry. " Red ink entries are always transferred to the opposite side from where they first appear, " for the reason that they indicate an excess of that side.
Page 34 - Omitting Stock (or the Partners' accounts), commence with the first account in the Ledger. First ascertain which of the above results it shows, and make the closing entry accordingly. If the difference represent a resource or a liability, enter upon the smaller side, in red ink,
Page 34 - Estate," or any other account from which the amount is transferred. " The Ledger accounts will each show, now, one of the four following results, viz : a Resource, a Liability, a Gain, or a Loss.
Page 27 - The above statement is called a " Trial Balance " for the reason most apparent ; it is a trial to ascertain if the debits and credits on the Ledger are equal, or balance. It does not, as some suppose, prove the Ledger to be absolutely correct, as there are many circumstances under which the Ledger may balance, and yet be wrong. This form of Trial Balance, however, is so nearly a test that under ordinary circumstances it may be considered...
Page 11 - ... is conducted on business principles, no one would think of dispensing with the daybook. The elementary treatises on bookkeeping teach that the keeping of books is necessary for the faithful and systematic record of business transactions, and that the daybook is the book of original entry, containing a consecutive history of the transactions in the date and order of their occurrence. As the records in this book are made when the transactions and all the circumstances connected with them are fresh...