Rowes Bookkeeping And Accountancy Complete Text Presenting the Art of Bookke

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Rowes Bookkeeping And Accountancy Complete Text Presenting the Art of Bookke
Harry Marc Rowe
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A discount amoimting to $24. 83, deducted after the term of discount had expired, was not allowed. What are the net purchase discounts allowed us for the three months?
TEADING STATEMENTS 69 2. We allowed the following sales discounts : July $89. 98; August $114. 96; September $342. 25; October $211. 88; November $401; December $740. 01. In one of these discounts an error of $55 was discovered and charged back. Another error of $30 was charged back. What was the amount of sales discounts allowed
... to others?
THE TRADING STATEMENT.
233. This statement is made up from the priyicipal trading accounts (i. E. , the inventory, the purchases and the sales accounts) and the various subsidiary trading accounts. This group of accounts contains all the facts relating to the costs of, and the returns from the commodities bought and sold. These facts are arranged in systematic order in the statement with full explanations and not infrequently they are accompanied and supported by various supplementary exhibits such as analysis sheets, comparative statements, etc.


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