Items related to The Philosophy of Accounts
Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...Dr." and " Cr." in pairs, the trial balances for several months may be contained on the same page or pages, without the necessity of rewriting numbers and names of accounts. 227. In order to prevent the omission of accounts from the trial balance it is generally found best to enter them in the order in which they follow each other in the ledger. If this order is not systematic and logical very little use can be made of the trial balance except as a test of mechanical correctness in posting. In the modern unbound ledger, consisting of loose cards or leaves and admitting of shifting and rearrangement, the ledger can be kept in exact order; while in the bound book, unless a great deal of space is wasted in blank pages, the necessary filling-up and transferring to new pages is pretty sure to throw it into more or less disarrangement. 228. It may be thought preferable to arrange the accounts alphabetically, taking the names and pages from the index and then filling in the amounts from the account. 229. Where there is a system of subordinate ledgers (Art. 74-75) the trial-balance, like the balance-sheet, may profitably be condenst by entering only the aggregates. The subordinate ledger has its own subordinate trial-balance which proves the correctness of its posting. Even if there be no such system of subordinate ledgers, an aggregate may be made up expressly for the trial-balance of all the accounts of a homogeneous group, in a list or schedule only the total of which appears in a single line of the trial-balance. 230. We will now give as an example of a condenst trial balance alphabetically arranged, the supposed trial balance of the Jones Mercantile Company using the same materials as in Art. 2i0, and exhibiting both totals...
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