Rahill's corporation accounting and corporation law; Accounting in theory and practice. Banking with special reference to the national banking system and a treatise on stock exchanges

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. 1905 Excerpt: ...balances the total of the "freight" column posted from the Cash Book to the debit of Freight Account--this adds the freight to the cost of the goods.2 The totals of all department columns are posted to department merchandise accounts in the General Ledger, and as the totals of all department columns must equal the totals of the "Open Accounts," "Audited Vouchers" and "Freight" columns, the General Ledger will be in balance. 524. When an open account is paid it is entered in the column adjoining "Terms," and the difference between this and the first column shows the amount owing on open accounts--assuming all invoices to be entered. When a voucher payment is made the amount is entered in the extreme left column, and the difference between this and the "Audited Vouchers column shows the amount due on Audited Vouchers. In this way the proprietor can tell his liability for merchandise at any time from this single record. Expense Voucher Record. 527. The Expense Voucher Record is kept in the same Vide paragraph 423. 2Vide paragraph 419. Some of the details of the foll0ing forms a0 omitted on account of the illust0ations being limited to the size of the page. 525. INVOICE VOUCHER RECORD. Date Voucher '" No In Favor of Vide paragraph 443. r„„„ Open Audited General Office Fixtures Dept. Dept. Dept. When How Amoui 0" Acc'ts Voucher Expense Expense & Furn. A B C Paid Paid Paid way as the Invoice Record. The difference between the first two columns on the left, and the extreme right column being the balance due. The first three distributive columns are for items that do not belong to any one department--the third column being for items that become a Permanent Asset. 527. If desired ...