Publisher's Synopsis
Excerpt from Modern Bookkeeping Accounting and Business Practice
In order that the student may easily and quickly acquire a practical working knowledge of Double Entry Bookkeeping, he is taught the principles in the following order: First. How to keep the Cash Book;-when to debit cash, when to credit cash, what explana tions to use; how to balance cash daily, how to open and keep a bank account, and how to reconcile the bank balance.
Second. When to debit and when to credit Personal accounts, Property accounts, Expense accounts, and the principle of Double Entry Bookkeeping.
Third. How to keep the Journal; what to enter in the Journal and what in the Cash Book; how to Post; how to take a Trial Balance; the proper forms of Bills or Invoices and Statements; the importance of Collections and how to make them.
Fourth. How to Open a New Set of Books and how to keep Stock accounts.
Fifth. How to keep Private accounts; the Loss and Gain account; how to make up a Six Column Statement; and how to Close a Set of Books.
Sixth. About Notes and Drafts; how to keep a Bills Receivable account and a Bills Payable account; how to keep the Bill Book; how to keep an Interest and Discount account.
Seventh. About the indexing of the Ledger, the arrangement of accounts in the Ledger, the use of a General Ledger, a Sales Ledger and a Purchase Ledger.
Eighth. About the use of Columnar Books; the use of a Sales Book, an Invoice Book, and a Petty Cash Book.
Ninth. About the subdivision of the Merchandise account - the Merchandise Purchases account; the Cash Discount on Purchases account; the Purchases Returned account; the Freight Inward account; the Merchandise Sales account; the Cash Discount on Sales account; the Sales Returned account and the Freight Outward account.
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