The Salient Features of An Ideal Accounting System for a Retail Bookstore
The Salient Features of An Ideal Accounting System for a Retail Bookstore
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In our eReader you can find the full English version of the book. Read The Salient Features of An Ideal Accounting System for a Retail Bookstore 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 The Salient Features of An Ideal Accounting System for a Retail Bookstore
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To quickly assess the difficulty of the text, read a short excerpt:
USesr ^ ^eV c$n{. J v as\the/ mark-up.
In case any book store proprietor does not want to make use of an average based on past experience he can arrive at the actual mark-up percentage on sales as follows: When invoices for purchases are received from publishers the invoices show both the gross and the net price. By looking at an invoice for 200 books at $5. 00 less 40 per cent. , making $600. 00 net, one sees that the gross profit is of course $400. 00 or 40 per cent. By providing a separate c...olumn in the purchase journal for recording the total price in addition to the net price, the average percentage of mark-up on purchases can be readily arrived at each month. It is then necessary to combine these figures with the initial inventory at cost and selling price and obtain an average mark-up percentage on stock. This percentage can then be used on the sales for the month in figuring the amount of gross profit and the cost merchandise sold.
A separate record should be kept of "reductions" made in the selling price or allowance made when valuing merchandise to cover shop worn books.
What to read after The Salient Features of An Ideal Accounting System for a Retail Bookstore?
You can find similar books in the "Read Also" column, or choose other free books by Dewitt Carl Eggleston to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
USesr ^ ^eV c$n{. J v as\the/ mark-up.
In case any book store proprietor does not want to make use of an average based on past experience he can arrive at the actual mark-up percentage on sales as follows: When invoices for purchases are received from publishers the invoices show both the gross and the net price. By looking at an invoice for 200 books at $5. 00 less 40 per cent. , making $600. 00 net, one sees that the gross profit is of course $400. 00 or 40 per cent. By providing a separate c...olumn in the purchase journal for recording the total price in addition to the net price, the average percentage of mark-up on purchases can be readily arrived at each month. It is then necessary to combine these figures with the initial inventory at cost and selling price and obtain an average mark-up percentage on stock. This percentage can then be used on the sales for the month in figuring the amount of gross profit and the cost merchandise sold.
A separate record should be kept of "reductions" made in the selling price or allowance made when valuing merchandise to cover shop worn books.
What to read after The Salient Features of An Ideal Accounting System for a Retail Bookstore?
You can find similar books in the "Read Also" column, or choose other free books by Dewitt Carl Eggleston to read onlineMoreLess
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