Business Accounting volume 1
Business Accounting volume 1
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In our eReader you can find the full English version of the book. Read Business Accounting volume 1 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 Business Accounting volume 1
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Deficiency Account It is customary to supplement a statement of affairs with a schedule showing how the deficiency has been caused. Such a statement is sometimes given in ledger account form. The losses due to shrinkage on each asset are listed on the debit side and are offset on the credit side by the capital obligations, which represent the losses by stockholders, and by the deficiency borne by the creditors. In this form, the deficiency account for the above statement of affairs would be as ...follows : Loss on Real Estate and Buildings $36, 000. 00 Loss on Machinery and Tools '. 1, 100. 00 Loss on Inventory 2, 690. 00 Loss on Accounts Re- ceivable 4, 232. 00 Loss on I. O. U. 's. . 250. 00 Total $44, 272. 00 Capital Stock $14, 000. 00 Surplus 9, 069. 00 Deficiency per Statement of Affairs 21, 203. 00 Total $44, 272. 00 The same information can usually be displayed more simply by listing the losses in detail and then deducting from the total that part of the loss to be borne by the stockholders, namely, the amount of the capital obliga- tions.
What to read after Business Accounting volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Harold Dudley Greeley to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Deficiency Account It is customary to supplement a statement of affairs with a schedule showing how the deficiency has been caused. Such a statement is sometimes given in ledger account form. The losses due to shrinkage on each asset are listed on the debit side and are offset on the credit side by the capital obligations, which represent the losses by stockholders, and by the deficiency borne by the creditors. In this form, the deficiency account for the above statement of affairs would be as ...follows : Loss on Real Estate and Buildings $36, 000. 00 Loss on Machinery and Tools '. 1, 100. 00 Loss on Inventory 2, 690. 00 Loss on Accounts Re- ceivable 4, 232. 00 Loss on I. O. U. 's. . 250. 00 Total $44, 272. 00 Capital Stock $14, 000. 00 Surplus 9, 069. 00 Deficiency per Statement of Affairs 21, 203. 00 Total $44, 272. 00 The same information can usually be displayed more simply by listing the losses in detail and then deducting from the total that part of the loss to be borne by the stockholders, namely, the amount of the capital obliga- tions.
What to read after Business Accounting volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Harold Dudley Greeley to read onlineMoreLess
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