accounting and business practice; corporation accounting and banking

rjnfUflwii-MiB UC-NRLF SB 102 1NOBIMII (MMfflOM ACCDllNI M) BANKING M3&RB i ! ' ! ! .! ' ; L „. ;;::;! 7 .U.I!-: Wf THE LIBRARY OF THE UNIVERSITY OF CALIFORNIA HENRY RAND HATFIELD MEMORIAL COLLECTION PRESENTED BY FRIENDS IN THE ACCOUNTING PROFESSION J& ^V^ Digitized by the Internet Archive in 2007 with funding from Microsoft Corporation http://www.archive.org/details/accountingbusineOOmoorrich [...]... in the student has been given extensive work in business prac- preceding sets and is now familiar with the various forms used in business, this set presents only the theory of corporation accounting The voucher system is extensively used in corporation bookkeeping As this set illustrates only theory, all business forms are omitted The ACCOUNTING AND BUSINESS PRACTICE 272 Manufacturing SALES LEDGER... Joint-stock larger corporation affords management companies combinations of and capital corporations known as are often trusts, the object being to secure greater increase of capital, to lessen competition, expenses, cost of production, and to control more effectually market t prices 253 ACCOUNTING AND BUSINESS PRACTICE 254 ORGANIZATION OF CORPORATIONS Some details of the organization of corporations will... private partnership and the total stock to be received by Salsbury, Gray, and Masten ACCOUNTING AND BUSINESS PRACTICE 264 After the foregoing entry is posted, the books are in condition to proceed with the records of the corporation Memoranda of Transactions for Practice Directions — After having studied the foregoing illustrations, the student should take a sheet of ordinary journal paper and make the proper... OF ACCOUNTING 267 and other expenditures of the business Where the system is found in its highest stage of development it is characterized by its approved methods for filing paid and unpaid bills and recording firm and corporate The method of filing vouchers, the classification and disbursements distribution of amounts paid, etc., vary greatly in different lines of business In the accounting of large... The powers of corporations may be stated as follows To have succession To sue or to be sued under its corporate name To use a common seal To purchase, hold, and convey lands and chattels To elect officers and appoint agents To make by-laws of Directors — After incorporation a meeting of the subscribers held to determine the number of directors and to elect the same In ORGANIZATION OF CORPORATIONS the... the corporation is formed The city or town in the Commonwealth where c d it is to be established or located e The amount of the The par value and capital stock the number of shares of capital stock / The certificate of incorporation issued by the secretary of the Commonwealth states the facts set forth in the Agreement of Association 4 and empowers the corporation to do business Fees — Certain and. .. name of each stockholder and the number of shares standing in his name The above and assets and liabilities of the corporation must be signed by the president and certificate at least a majority of the directors made under Dividends This report treasurer, required to be oath — A dividend portion thereof, among is a pro rata division of the profits, or some the stockholders of a corporation Franchise is... of each invoice purchased will be given, list is of this set and there- required is to illustrate corporation accounting, as applied to manufacturing interests, including the organization of a corporation, the opening, conducting, and closing of a set of corporation books The special features of this set are the classification of the Merchanand Expense accounts, indicating the methods employed by manufacturers... 6000 5000 2000 Accts Rec 3000 Finished Products 2000 ACCOUNTING AND BUSINESS PEACTICE 262 2 The good will of J entry to open the W Ball estimated at $2000 is new books should The journal be as follows Real Estate Mill property 5000 Machinery- Plant, tools, etc 6000 Raw On hand 5000 Patents Held by corporation 2000 Accts Rec Due the corporation On hand 2000 material Finished Products Good Will Estimated... columns for is These columns and VII In addi- accounts receivable, accounts payable, and merchandise are similar to those of the cash books used in Sets VI and discount a column is provided for accounts These columns record the amounts that receivable and accounts payable are to be posted to the sales ledger and the purchase ledger respectively The special column for merchandise on the left side is for . 1903, by JOHN H. MOORE AND GEORGE W. MINER ALL RIGHTS RESERVED C7 MS-7 PEEFATOEY NOTE Owing to the demand for a text on corporation accounting and banking, that part of Accounting and Business Practice presenting these. from Microsoft Corporation http://www.archive.org/details/accountingbusineOOmoorrich