Principles of Double-Entry Bookkeeping
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In our eReader you can find the full English version of the book. Read Principles of Double-Entry Bookkeeping 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 Principles of Double-Entry Bookkeeping
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The value determined by inventory is the amount which he will pay, and represents an asset. If the asset equals the amount of the debt, there is no loss nor gain; if the asset is less than the amount of the debt, the difference is loss; if the asset is greater than the amount of the debt, the difEerence is gain.
We determine the value of the debt of $210 which Cash owes us, in the same way, that is to say, by counting the cash. Since the amount of the debt is the difference between what we have... given to the person called Cash and what we have received from him, it should agree with the amount which he has on hand.
Our estimate of the value of the debt of $100 which Wm. Jones owes us depends upon our opinion of Jones.
If we think that he will pay it, we count it as an asset.
If we think that he will pay only part of it, we count that part of it as an asset and the rest of it as a loss. If we think that he will not pay anythiag, we count it all as a loss.
The debt of $50 which the person called Expense owes us will not be paid, therefore we count it as a loss.
What to read after Principles of Double-Entry Bookkeeping?
You can find similar books in the "Read Also" column, or choose other free books by Charles Mckinstry Van Cleve to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The value determined by inventory is the amount which he will pay, and represents an asset. If the asset equals the amount of the debt, there is no loss nor gain; if the asset is less than the amount of the debt, the difference is loss; if the asset is greater than the amount of the debt, the difEerence is gain.
We determine the value of the debt of $210 which Cash owes us, in the same way, that is to say, by counting the cash. Since the amount of the debt is the difference between what we have... given to the person called Cash and what we have received from him, it should agree with the amount which he has on hand.
Our estimate of the value of the debt of $100 which Wm. Jones owes us depends upon our opinion of Jones.
If we think that he will pay it, we count it as an asset.
If we think that he will pay only part of it, we count that part of it as an asset and the rest of it as a loss. If we think that he will not pay anythiag, we count it all as a loss.
The debt of $50 which the person called Expense owes us will not be paid, therefore we count it as a loss.
What to read after Principles of Double-Entry Bookkeeping?
You can find similar books in the "Read Also" column, or choose other free books by Charles Mckinstry Van Cleve to read onlineMoreLess
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