Book-Keeping
Mr. John Brown
1890.
Directions for Single
Narrative of Transaction (Jan Brought goods as follows)
Jan. 4. Brought goods as follows:
Directions for Single (II)
Directions for Single (ENTRY Feb Sold Robert Swain)
ENTRY. 250.00 Feb. 10. Sold Robert Swain on note at 2 A Draft when accepted becomes a Bill Payable and entered as such. months, 47 5…
Narrative of Transaction (Mar Paid W H Raynor Cash)
Mar. 18. Paid W. H. Raynor, Cash..
Directions for Single (ENTRY Cash-book as before)
ENTRY. 52.25 Cash-book as before. 66.00 Cash-book as before. 118.75 Bills Receivable as before. 70.00 As before. 120.00 Cash-book as…
Bills Payable
Date.
Bills Receivable
Date.
W. S. Dearborn
1892.
A. D. Burrows & Son
1892.
Joseph Kennelly (Jan Folio)
George Fleming
W. H. Raynor
John Gregory
1892.
Geo. H. Brown
Test of Accuracy
Book-Keeping by Double-Entry
The system of book-keeping by Double-Entry is founded on the principle that every debtor must have a creditor, and every creditor a debtor…
Rules for Journalizing
I.
January, 1892
Cr.
February, 1892
Cr.
W. S. Dearborn (II)
A. D. Burrows & Son (II)
Folio 3.
Joseph Kennelly (Oo Jan Folio)
Geo. Fleming
W. H. Raynor (II)
Folio 8.
H. V. Hollis (II)
Folio 9.
Geo. H. Brown (II)
Bills Payable (II)
Bills Receivable (II)
Profit and Loss
Directions for Closing Ledger Accounts
All Personal accounts are closed to or by Balance. Cash account is closed by Balance for Cash on hand. The other Real accounts are closed…