Public Accounting and Auditing... |
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Page 24
John F. Sherwood. 3. If a Trial Balance is furnished, check it with the general
ledger. 4. Check list of accounts receivable and accounts payable with controlling
accounts. 5. Check any other subsidiary lists of accounts with controlling
accounts.
John F. Sherwood. 3. If a Trial Balance is furnished, check it with the general
ledger. 4. Check list of accounts receivable and accounts payable with controlling
accounts. 5. Check any other subsidiary lists of accounts with controlling
accounts.
Page 33
By subsidiary books are meant subsidiary ledgers controlled by accounts in the
general ledger. They include customers' ledgers, creditors' ledgers, stockholders'
ledgers, cost ledgers, etc. The following discussion and the accompanying chart
...
By subsidiary books are meant subsidiary ledgers controlled by accounts in the
general ledger. They include customers' ledgers, creditors' ledgers, stockholders'
ledgers, cost ledgers, etc. The following discussion and the accompanying chart
...
Page 34
... given place to the journal which, either a single book or separated into many
subsidiary books, is the book of original entry. ... more bookkeepers to work on
them at the same time, likewise, it is equally advisable to subdivide the ledger.
... given place to the journal which, either a single book or separated into many
subsidiary books, is the book of original entry. ... more bookkeepers to work on
them at the same time, likewise, it is equally advisable to subdivide the ledger.
Page 36
The process in subdividing the ledger, however, differs from the subdivisions of
the journal in this respect, that the general ledger controls all accounts which are
kept in what are known as subsidiary ledgers. Subsidiary Ledgers. In an ordinary
...
The process in subdividing the ledger, however, differs from the subdivisions of
the journal in this respect, that the general ledger controls all accounts which are
kept in what are known as subsidiary ledgers. Subsidiary Ledgers. In an ordinary
...
Page 37
At this point the system becomes still more complicated by the fact that the
number of transactions affecting the cost ledger are so great that it may be
necessary to subdivide that ledger and maintain subsidiary cost ledgers for
special cost ...
At this point the system becomes still more complicated by the fact that the
number of transactions affecting the cost ledger are so great that it may be
necessary to subdivide that ledger and maintain subsidiary cost ledgers for
special cost ...
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Common terms and phrases
ACCOUNTING PROBLEMS accounts payable accounts receivable accrued adjusting entries assets and liabilities auditor Bad Debts Balance Sheet audit bank Blank Manufacturing 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 discount dividends double entry endorsement errors expenses fiscal period fixed assets included Income Tax Inst inventory investments invoices journal entries junior ledger accounts Liberty bonds machinery ment merchandise method mortgage negotiable instruments nominal accounts notes payable Notes Receivable paid par value payment person preferred stock premium prepared Profit and Loss purchased real accounts real estate record reserve for depreciation sales ledger securities selling single entry Sinking Fund statement statute stockholders subsidiary ledger Surplus trade transactions treasury stock Trial Balance usually verify voucher xx xxxx xxxxx
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...
Bibliographic information
| Title | Public Accounting and Auditing... Volume 1 of Public Accounting and Auditing, John F. Sherwood |
| Author | John F. Sherwood |
| Publisher | South-western publishing Company, 1920 |
| Original from | the University of California |
| Digitized | 22 Oct 2007 |
| Export Citation | BiBTeX EndNote RefMan |