Cost accounting being a uniform accounting system as applied to the cement industry

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 Excerpt: ...in posting from the various Distribution Sheets should be observed, assuming postings from Purchase Journal, Cash Book and General Journal have been made. These accounts affecting all departments are posted first and the following order is recommended: AUXILIARY ACCOUNTS As the Auxiliary Accounts affect all Departmental accounts it is imperative that they be closed before considering the Departmental Accounts proper, therefore assuming that all items appearing in the "General Ledger" column of Distribution Sheets 1 and 2 have been posted, the first account to be closed would be: Machine, Blacksmith And Carpenter Shop: The basis for distribution of this account is from the "Repair Labor Distribution" sheet, charging the proper departments and crediting this account. If separate shops are maintained and accounts kept in the General Ledger for each shop it might be well to make out three distribution sheets, otherwise one Distribution Sheet headed "Machine, Blacksmith and Carpenter Shops" is all that would be necessary. From the various Miscellaneous Distribution Sheets post and close the following accounts in the order given: Coal. Power, Light and Water. Coal Preparing. Floating Gang. Gypsum. DEPARTMENTAL ACCOUNTS The system as outlined contemplates the subdivision of the one Operating or Manufacturing Account into several accounts as below: Raw Material No. 1 Raw Material No. 2 Raw Grinding Clinker Burning Finished Grinding Mill Overhead Reserves Finished Cement Manufacturing 1 or Operating = Bin Cost. Account ) It is necessary to close these several accounts monthly, and for this purpose the General Journal is utilized. In closing the following procedure is observed: Raw Materials No. 1 And No. 2 (Accounts Nos. 51 and 52): Fro...