Lanterna Rally

Author: Robert Gardner McClung

Publisher: Forgotten Books

Published: 2015-06-15

Total Pages: 24

ISBN-13: 9781330072813

Excerpt from The Theory of Debit and Credit in Accounting Every student of accounting experiences difficulty in seeing any principle on which impersonal accounts are debited and credited. At the outset, he wonders why Cash should be debited when money is received, and credited when money is paid out; and, as the other impersonal accounts are taken up, his difficulty increases. Various explanations for the debit and credit of impersonal accounts have been given. None of them ever seemed to the writer satisfactory. After long and careful consideration of the subject, he submits the explanation contained in the following pages as the correct one. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.