Accounting Every Business Man Should Know
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In our eReader you can find the full English version of the book. Read Accounting Every Business Man Should Know Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Accounting Every Business Man Should Know
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To quickly assess the difficulty of the text, read a short excerpt:
First there was the value of the merchan- dise, or inventory with which the period began; then there were the two contem- poraneous elements of sales and purchases on the credit and debit sides respectively.
The balance was the difference between in- ventory plus purchases, and sales. Obvi- ously, if all these items were priced alike, the balance of the account would represent the value of merchandise on hand at the close of the period; but no profit on sales would have been made. This differen...ce in price at which the sales are entered is the source of profit or revenue. The total volume of it represents, on a paying busi- ness, the amounts which have been laid out for expenses of operation and the amount of Closing the Ledger 63 accretion to the excess of assets over liabil- ities, or net profit. In making up the bal- ance sheet this margin must be eliminated, and the merchandise must be entered at its actual present volume and value. If it were possible to know the total of the credit side of the account, priced as the debit side is priced, that figure could be substituted for the credit side of the account and a new balance found which should represent the in- ventory.
What to read after Accounting Every Business Man Should Know?
You can find similar books in the "Read Also" column, or choose other free books by Elisha Ely Garrison to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
First there was the value of the merchan- dise, or inventory with which the period began; then there were the two contem- poraneous elements of sales and purchases on the credit and debit sides respectively.
The balance was the difference between in- ventory plus purchases, and sales. Obvi- ously, if all these items were priced alike, the balance of the account would represent the value of merchandise on hand at the close of the period; but no profit on sales would have been made. This differen...ce in price at which the sales are entered is the source of profit or revenue. The total volume of it represents, on a paying busi- ness, the amounts which have been laid out for expenses of operation and the amount of Closing the Ledger 63 accretion to the excess of assets over liabil- ities, or net profit. In making up the bal- ance sheet this margin must be eliminated, and the merchandise must be entered at its actual present volume and value. If it were possible to know the total of the credit side of the account, priced as the debit side is priced, that figure could be substituted for the credit side of the account and a new balance found which should represent the in- ventory.
What to read after Accounting Every Business Man Should Know?
You can find similar books in the "Read Also" column, or choose other free books by Elisha Ely Garrison to read onlineMoreLess
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