Modern Bookkeeping Accounting and Business Practice (Classic Reprint)

Excerpt from Modern Bookkeeping Accounting and Business Practice<br><br>This book contains a carefully graded series of lessons in Bookkeeping, Accounting and Business Practice. The lessons are made so plain and are illustrated so fully that even a child can understand them. Any person of average intelligence, without any previous knowledge of Bookkeeping can become a fully competent double entry bookkeeper by mastering these lessons, provided he is proficient in Arithmetic and Penmanship or makes himself proficient in these subjects.<br><br>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:<br><br>First. How to keep the Cash Book; - when to debit cash, when to credit cash, what explanations to use; how to balance cash daily, how to open and keep a bank account, and how to reconcile the bank balance.<br><br>Second. When to debit and when to credit Personal accounts, Property accounts, Expense accounts, and the principle of Double Entry Bookkeeping.<br><br>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.<br><br>Fourth. How to Open a New Set of Books and how to keep Stock accounts.<br><br>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.<br><br>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.<br><br>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.<br><br>Eighth. About the use of Columnar Books; the use of a Sales Book, an Invoice Book, and a Petty Cash Book.<br><br>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.<br><br>Tenth. About Partnerships, Leases, and Fire Insurance.<br><br>Eleventh. How to keep Controlling accounts; how to use the Bill Book as a book of original entry.<br><br>Twelfth. How to keep books by Single Entry and how to change books from Single Entry to Double Entry.<br><br>Thirteenth. How to do bookkeeping for a Commission business; about Shipments and Consignments; the use of the Receiving Book, the Consignment Ledger, the Customers Ledger, the General Ledger, and the Account Sales.<br><br>Fourteenth. Corporation bookkeeping; Capital Stock account; Unissued Stock account; Subscribed Stock account; Subscribers account; Treasury Stock account; Undivided Profits account; Dividend account; Surplus account; the Minute Book; the Stock Ledger; the Dividend Book.<br><br>Fifteenth. The Voucher System, with forms for the Voucher Book and the Voucher Register.<br><br>Sixteenth. Profit and Loss Statements and Balance Sheets.<br><br>About the Publisher<br><br>Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com