Online Encyclopedia

STATE OF AFFAIRS AS AT 31ST DECEMBER

Online Encyclopedia
Originally appearing in Volume V04, Page 227 of the 1911 Encyclopedia Britannica.
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STATE OF AFFAIRS AS AT 31ST DECEMBER 1906 Liabilities. Assets. Trade Creditors . £4,961 10 0 Fixtures, Furni- Bills Payable . 2,620 18 4 Lure, &c. £1,269 4 3 Balance, being ex- Stock on hand . 5,751 3 to cess of assets Trade Debtors 3,842 7 9 over liabilities Bills Receivable . 7,468 14 3 (or " Capital ") Cash at Bank 4,169 5 5 at this date, 14,918 7 2 carried down . £22,500 15 6 £22,500 15 6 Amount of Capi- Balance brought tal on 1st Jan. down . . . £14,918 7 2 1906. . . £15,010 I 7 Balance, being net Amount drawn profit for the out of business year ended this during year date . . 1,408 5 7 ended this date. 1500 0 0 £16,418 7 2 £16,418 7 2 Double-entry. a record of transactions. Thus transactions which have actually taken place may have been omitted from the books altogether, or they may have been recorded to the wrong accounts, or the money values attached to them may be incorrect; or, yet again, fictitious records may be entered
End of Article: STATE OF AFFAIRS AS AT 31ST DECEMBER
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