Meservey's Book-Keeping, Single Entry. for Grammar Schools 1
Meservey's Book-Keeping, Single Entry. for Grammar Schools 1
A B Atwood Bond Meservey
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How should the sales-book be ruled? Like the invoice-book. 174. How should the entries be made? Like those in the invoice- book ; only the third column should Oantain merchandise sold, instead of merchandise bought. Some book-keepers prefer to post directly from the invoice-book and sales-book, rather than transfer the entries, and post the results. In order to illustrate both methods, we adopt this form in single entry, and the other in double entry. The learner should thoroughly understand bo...th methods. In actual business he can use either. 7« BOOK'KEEPINQ. DAT-BOOK. What transactions should be entered in the day-book of this form? Cash received, and cash paid out on account, should be entered in the day-book and cash-book ; merchandise bought on account should be entered in the invoice-book, and then transferred to the day-book ; merchandise sold on account should be entered in the sales-book, and then transferred to the day-book. The assets and liabilities of the partners, except net capital, should be entered in the day-book when the books are opened ; and the net gain should be entered when they are closed.
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