. Rowe's bookkeeping and accountancy : complete text, presenting the art of bookkeeping in accordance with the principles of modern accountancy . ra7iy deductions or rebates from the cost, or for the value of materials taken from the account.(•I145t) 194. Transactions Illustrating the Application of the Rule. (1) F. A. Raymonds transactions for the month of January affecting the ware-house supplies account were as follows: Jan. 6. He, purchased boxes amounting to $ Jan. 9. Repurchased lumber for the making and repairing of boxes, $ Jan. 10. He paid for nails, etc., $ Jan. 15. H
. Rowe's bookkeeping and accountancy : complete text, presenting the art of bookkeeping in accordance with the principles of modern accountancy . ra7iy deductions or rebates from the cost, or for the value of materials taken from the account.(•I145t) 194. Transactions Illustrating the Application of the Rule. (1) F. A. Raymonds transactions for the month of January affecting the ware-house supplies account were as follows: Jan. 6. He, purchased boxes amounting to $ Jan. 9. Repurchased lumber for the making and repairing of boxes, $ Jan. 10. He paid for nails, etc., $ Jan. 15. He paid for wrapping paper, Jan. 20. He purchased boxes for $ Jan. 26. He purchased lumber amounting to $ Jan. 27. He secured a rebate of $ on bill for boxes purchased Jan. 20. What was the cost of the warehouse supplies for the month? (1) Trace each transaction in the illustration shown below. (2) Prepare a ledger account like the illustration, inserting the closing entryfor the item $, as shown in the illustration. Rule the account, foot andpresent for approval. WAKEHOUSE SUTiLlES ACCOUNTS 59 Illustration 32,. 194a. Remember that the closmg entry, Trading % to close, on January 31,is inserted in the exercises merely to show the account closed. In keeping a s«t ofbooks, this entry would not be made until it was posted from tke journal. (^|196).Naming the items debited and credited in the explanation column jissists in under-standing the account, and particularly in analyzing it, if such should l-e names of the items are frequently omitted, l:owever, in subsidiary accounts. To Close Warehouse Supplies Account. 195. The difference between the two sides of this account will show a del)it l)al-auce, which is added to the cost of purchases in the trading statement. (^242) 196. To close. After the trading statement has been prepared, this account isclosed by a journal entry which is made up from the items appearing in the tradingstatement.
Size: 2907px × 860px
Photo credit: © Reading Room 2020 / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookdecade1910, booksubjectbookkeeping, bookyear
