An Italian Monk invented double entry accounting. He put items on the left side he called assets and expenses and on the right liabilities, equity and income. This way both sides balance with each other. if you divide the list horizontally the assets liability and equity make up a balance sheet with the difference called income profit or loss. The difference between the income and the expenses was the income profit or loss. They balanced.
When accounting started out in the caveman days Joe traded pink rocks in front of his house for bananas from his neighbors yard. Then another neighbor was willing to trade his apples for pink rocks. A third neighbor said I am growing corn. The harvest wont be ready for 2 months. This became the first receivable.
Joe invented a journal. He recorded his transaction by date, by asset, by receivable and sale. At the end of the month he added up his columns to arrive at a single total for each column.
He transferred this total to another book called a General Ledger. Set up by month based upon the categories and classifications. Cash, receivables, Sales etc.
There were no computers which could post individual items on a continuing basis. So journals for sales, purchases, inventory were maintained. Summaries went to the General ledger. The totals by account became a single number in one of the 5 groups assets, liabilities, capital, income, expense.
simple
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
What_is_a_cash_receipt_journalcash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital All cash payments made by the company.
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capitalDebit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash accept.we have some confusion about format of cash recipts.is it true?
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cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital
What_is_a_cash_receipt_journalcash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capital All cash payments made by the company.
The Wall Street Journal and Forbes made the Indian edition in the same month. This was in May 2009. The Wall Street Journal made it first by a few days.
1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry
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Business Days by Month in 2009 - *US Holidays are not deducted from the totals below Jan 22 Feb 20 Mar 22 Apr 22 May 21 Jun 22 Jul 23 Aug 21 Sep 22 Oct 22 Nov 21 Dec 23
In merchandising business, sales and purchases are the most common transactions. Special journals are used to record the transactions as they are very frequent and to make the accounting process simpler. The types of special journals used are Revenue Journals: sales journal and cash receipt journal. Expense Journal: purchase journal and cash payment journal. Earlier the accounts were hand written in the relevant books of accounts and tallied every month or half yearly or annually. However the same accounts are computerized for easier reference in the modern age.
Rainfall Records For 2008 By month in Seattle Wasjington Rainfall Records For 2008 By month in Seattle Washington
According to an August 2010 article in the Atlanta Journal-Constitution (http://www.ajc.com/business/rise-of-the-machines-581358.html), the unit leases for about $320 a month.
A senior accountant could work on any established business organization and some of the works for a senior accountant are; month end journal entries and preparing monthly and quarterly reconciliations.
cash receipt journal is used to record money received by the business during calendar month as previously mentioned ,when money is received by the business for capitalDebit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash accept.we have some confusion about format of cash recipts.is it true?