Category: Law & Criminology
Formerly Lecturer on Auditing at the Evening School of Accounts and Finance of the University of Pennsylvania, and the School of Commerce, Accounts, and Finance of the New York University.
=13.= To _corner the market_ is to offer to buy and be prepared to carry out your offer, for an amount more than is offered for sale, thus causing the price to advance. Sometime...
14. Part 14In a very small business, one man could fill all the orders and make out all of the bills. In a little larger business it would be necessary to devote one person's entire time t...
15. Part 15_Wearing Quality of Paper._ Many times a typewriter will have a rubber roll (platen) which has become pitted and worn from age and the use of periods, commas, hyphens, and ditto...
12. Part 12=PIT:= The portion of the board of trade where floor trades are made. This term is particularly applied to Chicago. Other stock exchanges set aside certain places signified by p...
13. Part 13In recent years, the typewriter companies have placed devices on their typewriters which permit of the sales sheet being held independently of the invoices. This permits one to...
16. Part 16=Goods Shipped for Entire Order.= If the nature of the business is such that the firm can always fill its orders completely, it is perfectly safe to enter prices, make the exten...
11. Part 11In localities where cotton is largely dealt in, or where tobacco is largely dealt in, it may be necessary to add columns for the tobacco ledger or the cotton ledger in the gener...
7. Part 7=19.= Taking the accounts in the following trial balance, a model ledger is illustrated which demonstrates the manner of proving the ledger without the aid of the conventional t...
9. Part 9CASH DISBURSEMENTS Funeral expenses 30.00 Expenses of probate 200.00 General legal expenses 400.00 Repairs to building 220.00 Stationery, postage, etc. 10.00 Accountant's fee 80...
3. Part 3=17.= Instead of keeping separate order and sales books, both records may be combined on one blank. This is accomplished by the use of order blanks provided with columns for the...
2. Part 2The sales account, with which the student has been made acquainted, exhibits net sales, while a _sales controlling account_ exhibits a summary of all accounts in the sales ledge...
4. Part 4When an agent transmits an account sales without a cash remittance, the transaction must be journalized to close the shipment account. When proceeds are to be charged to his acc...
8. Part 8In certain lines of business a record of quantities of different kinds of merchandise sold is of almost equal value to records of values. Examples are—wholesale coal business, i...
6. Part 6The statement was entered in the journal and accounts representing each item were opened in a new ledger. The balance was credited to surplus account and the books were in balan...
5. Part 5=4. Rules for Debit and Credit.= The rules for debit and credit are the same in single entry as in double entry, except that no debits and credits are recorded which do not effe...
17. Part 1710. The books of the Star Coal Company, a corporation with a paid-up capital of $10,000.00, have been kept by single entry. The following facts are gathered from the books:
1. Part 1Formerly Lecturer on Auditing at the Evening School of Accounts and Finance of the University of Pennsylvania, and the School of Commerce, Accounts, and Finance of the New York...
18. Part 181. Many pages had section page numbers as well as book page numbers. Footnote 2 on page 10 refers to the book page numbers. Ignored the section page numbers. 2. Changed 22.50 to...