Public Accounting and Auditing...South-western publishing Company, 1920 - Accounting |
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Page 46
... Allowed .. Expenses New York office . Expenses branch office .. Expenses general office .. Reserve for Bad Debts .. $ 4,765.14 100.64 17,821.04 6,164.92 1,301.90 20,903.88 6,263.12 255,642.42 266,723.40 • 811.32 4,000.00 8,824.22 ...
... Allowed .. Expenses New York office . Expenses branch office .. Expenses general office .. Reserve for Bad Debts .. $ 4,765.14 100.64 17,821.04 6,164.92 1,301.90 20,903.88 6,263.12 255,642.42 266,723.40 • 811.32 4,000.00 8,824.22 ...
Page 68
... allowed . Where experience and investigation show that beyond a doubt there will be a certain per cent of notes prove worthless , then it is sound ac- counting to set up a reserve . This will be discussed further in a later chapter ...
... allowed . Where experience and investigation show that beyond a doubt there will be a certain per cent of notes prove worthless , then it is sound ac- counting to set up a reserve . This will be discussed further in a later chapter ...
Page 71
... line method . However , the straight line method is allowed by the Department of Banking of the state of New York for valuing the investments of saving banks . Accounting for Sinking Fund Investments . There are three classes SECURITIES 71.
... line method . However , the straight line method is allowed by the Department of Banking of the state of New York for valuing the investments of saving banks . Accounting for Sinking Fund Investments . There are three classes SECURITIES 71.
Page 82
... from the list price regardless of the time of payment . Even though the terms of the invoice indicated that the discount would not be allowed after thirty days , if the rate were greater than 82 22 PUBLIC ACCOUNTING AND AUDITING Discounts.
... from the list price regardless of the time of payment . Even though the terms of the invoice indicated that the discount would not be allowed after thirty days , if the rate were greater than 82 22 PUBLIC ACCOUNTING AND AUDITING Discounts.
Page 83
... allowed . Furthermore , any accounts written off and subsequently collected would be taxable as income in a later period . Of course , it frequently happens that an account considered worthless is later collected in full or in part ...
... allowed . Furthermore , any accounts written off and subsequently collected would be taxable as income in a later period . Of course , it frequently happens that an account considered worthless is later collected in full or in part ...
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Common terms and phrases
accounts payable accounts receivable accrued adjusting entries auditor bad debts Balance Sheet audit bank Blank Manufacturing bookkeeper books of account buildings C. P. A. Ind Capital Stock cash book certificate charged client columns contract controlling account corporation cost price creditors current assets current liabilities customers debit deducted dividends endorsement expenditures expenses fiscal period fixed assets included Income Tax Inst inventory investments invoices journal entries junior ledger accounts Liberty bonds ment merchandise method mortgage necessary negotiable instruments nominal accounts notes payable notes receivable paid par value payment preferred stock premium prepared Profit and Loss purchased real estate record reserve for depreciation sales ledger securities selling shares shown Sinking Fund sold statement stockholders subsidiary ledger Surplus tion trade transactions treasury stock Trial Balance trustee usually verify voucher XX XXXX.XX XXXX.XX XX XXXXX XXXX.XX XXXX XXXXX.XX XXXXX.XX
Popular passages
Page 76 - Where the instrument is addressed to a drawee he must be named or otherwise indicated therein with reasonable certainty.
Page 78 - But if any such instrument, after completion, is negotiated to a holder in due course, it is valid and effectual for all purposes in his hands, and he may enforce it as if it had been filled up strictly in accordance with the authority given and within a reasonable time.
Page 126 - The cost of incidental repairs which neither materially add to the value of the property nor appreciably prolong its life...
Page 126 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 78 - And a signature on a blank paper delivered by the person making the signature in order that the paper may be converted into a negotiable instrument operates as a prima Jade authority to fill it up as such for any amount.
Page 77 - An instrument which contains an order or promise to do any act in addition to the payment of money is not negotiable. But the negotiable character of an instrument otherwise negotiable is not affected by a provision which: 1. Authorizes the sale of collateral securities in case the instrument is not paid at maturity; or 2.
Page 77 - Does not specify the place where it is drawn or the place where it is payable ; or 4.
Page 90 - A contract to sell goods is a contract whereby the seller agrees to transfer the property in goods to the buyer for a consideration called the price.
Page 172 - A bill is negotiated when it is transferred from one person to another in such a manner as to constitute the transferee the holder of the bill. (2) A bill payable to bearer is negotiated by delivery. (3) A bill payable to order is negotiated by the indorsement of the holder completed by delivery.
Page 185 - Debt expense" means all expenses in connection with the issuance and sale of evidences of debt, such as fees for drafting mortgages and trust deeds: fees and taxes for issuing or recording evidences of debt cost of engraving and printing bonds, certificates of indebtedness, and other commercial paper...