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Encyclopedia Britannica - Main :: SOU-STE |
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STATE OF AFFAIRS AS AT 31ST DECEMBER 1906 Liabilities. Assets . Trade
Bills Payable . 2,620 18 4 Lure, &c. 1,269 4 3 Balance
cess of assets Trade
over liabilities Bills Receivable . 7,468 14 3 (or " Capital ") Cash
at this date, 14,918 7 2 carried down . 22,500 15 6 22,500 15 6 Amount of Capi- Balance
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
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 enteredEnd of Article: STATE OF AFFAIRS AS AT 31ST DECEMBER If you wish, you can link directly to this article.
<a href="http://jcsm.org/StudyCenter/Encyclopedia/SOU_STE/STATE_OF_AFFAIRS_AS_AT_31ST_DE.html"> STATE OF AFFAIRS AS AT 31ST DECEMBER </a> |
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