Draughon's Practical Bookkeeping PDF ePub eBook

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Draughon's Practical Bookkeeping free pdf Excerpt from Draughon's Practical Bookkeeping: Illustrated for Self-Instruction by Home Study and for Use in Literary Schools and Business Colleges To take a Trial Balance is to see if the Ledger is on balance. First, go to the left-hand side, the receiving side, of your Cash Book, and foot up the column. Then foot up the column on the right-hand side of your Cash Book, which represents the Cash you paid out. Subtract this from the amount of your left-hand column, which column represents the Cash you receive. The difference between the two columns will represent the amount of Cash on hand. Enter the difference on the left-hand side, the debit side, of your Trial Balance. (See January Trial Balance, page 5.) Second, foot up the accounts in the Ledger, debit and credit sides, in small pencil figures, using a sharp-pointed pencil. Place the footings close to and directly under the respective accounts. After footing up each account, write in the Trial Balance Book the name of each account in the Ledger, except those that balance that is, when both debit and credit sides agree. Take the difference between the debit and credit of each account. If the difference shows a debit, place the difference in the debit column on your Trial Balance opposite the names of the respective accounts you had previously written in your Trial Balance Book. (See Trial Balance, page 5, for form.) If the difference in these accounts shows a credit, then you would write the difference in the credit column of your Trial Balance. Proceed this way through your Ledger. When through, add your total debits, left-hand side of your Trial Balance- then add your total credits, right-hand side of your Trial Balance. (See footings of January Trial Balance, page 5.) Your footings should agree. Should they not agree, then you know that you have an error in some part of your work. A Trial Balance does not absolutely prove that your work is correct. It proves only that each debit has had a corresponding credit, and each credit has had a corresponding debit. The Trial Balance does not detect such errors as posting to the wrong account. You might intend to credit Jones with $50, but you might, by mistake, credit Smith with this amount. This would not throw you off in your Trial Balance at all. Then there is another mistake you might make which would not affect your Trial Balance. For instance, you might, in adding a credit column, make an error of $10. You might, also, in adding your debit column, make an error of $10. Hence, you see, one would offset the other. In taking Trial Balance always give Ledger page on Trial Balance preceding each account. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully- any imperfections that remain are intentionally left to preserve the state of such historical works.

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Details Book

Author : Jno F Draughton
Publisher : Forgotten Books
Data Published : 27 September 2015
ISBN : 1330074564
EAN : 9781330074565
Format Book : PDF, Epub, DOCx, TXT
Number of Pages : 92 pages
Age + : 15 years
Language : English
Rating :

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  • Draughon's Practical Bookkeeping free pdfDraughon's Practical Bookkeeping

    . Excerpt from Draughon's Practical Bookkeeping: Illustrated for Self-Instruction by Home Study and for Use in Literary Schools and Business Colleges To take a Trial Balance is to see if the Ledger is