The book The Theory of Accounts was written by author Frederick Sampson Tipson Here you can read free online of The Theory of Accounts book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The Theory of Accounts a good or bad book?
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BROWN (Consignment). To Cash, $1000. 00 6700. 00 By Mdse. , ' ' Balance, a/c sale $5000. 00 2700. 00 $7700. 00 $7700. 00 J. BROWN, CONSIGNMENT, a/c SALES. To Mdse. , " Freight. " Expense, " Commission 11 Balance $5000. 00 -100. 00 300. 00 900. 00 2700. 00 By Sales, $9000. 00 $9000. 00 $9000. 00 175 CASH BOOK. 9 DR. To Sales, $9000. 00 By J. Brown, " Freight, ' ' Commission, " Expense, CR. $1000. 00 . 6700. 00 100. 00 900. 00 300. 00 $9000. 00 $9000. 00 J. JONES (personal a/c). To cash, $900. 00... By Commission, $900. 00 By a consignment or shipment is meant the transfer of the custody (but not the title) of merchandise by one party called the consignor, to another called the consignee. The consignor allows commission on sales and receives cash for proceeds less expenses incurred in the transac- tions, commission, &c. , so set forth in the " account sales " rendered by the consignee when the merchandise has been disposed of. 214. Examination of the books of a plumbers' supply house shows that all outgoing bills are press copied and posted individually to Customers' accounts, the monthly aggregate of sales being credited to Merchandise account.
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