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. 1917 edition. Excerpt: ... (6) Columns for Discount on Purchases and Discount on Notes on the same side of the Cash Book; (c) Columns for Discount on Sales and Cash Sales on the debit side of the Cash Book; (d) Departmental columns in the Sales Book and in the Purchase Book. Controlling Accounts.--The addition of special columns in books of original entry makes possible the keeping of Controlling Accounts. The most common examples of such accounts are Accounts Receivable account and Accounts Payable account. These summary accounts, respectively, displace individual customers' and creditors' accounts in the Ledger. The customers' accounts are then segregated in another book called the Sales Ledger or Customers' Ledger, while the creditors' accounts are kept in the Purchase or Creditors' Ledger. The original Ledger, now much reduced in size, is called the General Ledger. The Trial Balance now refers to the accounts in the General Ledger. It is evident that the task of taking a Trial Balance is greatly simplified because so many fewer accounts are involved. A Schedule of Accounts Receivable is then prepared, consisting of the balances found in the Sales Ledger, and its total must agree with the balance of the Accounts Receivable account shown in the Trial Balance. A similar Schedule of Accounts Payable, made up of all the balances in the Purchase Ledger, is prepared, and it must agree with the balance of the Accounts Payable account of the General Ledger." The Balance Sheet.--In the more elementary part of the text, the student learned how to prepare a Statement of Assets and Liabilities for the purpose of disclosing the net capital of an enterprise. In the present chapter he was shown how to prepare a similar statement, the Balance Sheet. For all practical...

The story of an uncovered voyage as colorful and momentous as any on record for the Age of Discovery--and of the Black mariner whose stunning accomplishment has been until now lost to history It began with a secret mission, no expenses spared. Spain, plotting to break Portugal's monopoly trade with the fabled Orient, set sail from a hidden Mexican port to cross the Pacific--and then, critically, to attempt the never-before-accomplished return, the vuelta. Four ships set out from Navidad, each one carrying a dream team of navigators. The smallest ship, guided by seaman Lope Martín, a mulatto who had risen through the ranks to become one of the most qualified pilots of the era, soon pulled far ahead and became mysteriously lost from the fleet. It was the beginning of a voyage of epic scope, featuring mutiny, murderous encounters with Pacific islanders, astonishing physical hardships--and at last a triumphant return to the New World. But the pilot of the fleet's flagship, the Augustine friar mariner Andrés de Urdaneta, later caught up with Martín to achieve the vuelta as well. It was he who now basked in glory, while Lope Martín was secretly sentenced to be hanged by the Spanish crown as repayment for his services. Acclaimed historian Andrés Reséndez, through brilliant scholarship and riveting storytelling--including an astonishing outcome for the resilient Lope Martín--sets the record straight.