Bookkeeping for Modern Business (Classic Reprint)

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Excerpt from Bookkeeping for Modern Business A Business Transaction is an exchange of values, that is, one value is given in exchange for another. Bookkeeping - Years ago men who engaged in trade learned that it was unwise to carry on business Without keeping written records of their business transactions. They found it was necessary to keep written records in order that they could tell, from time to time, the amounts of cash received and paid out, the value of the goods purchased and sold, What persons owed the business for goods sold them on credit, and how much, what persons the business owed for goods purchased on credit, and how much, the amount of cash paid out for rent, coal, help, etc. From these written records the owner of the business could determine what the business owned and what the business owed, and whether the business was being run at a profit or a loss. The process of keeping such records is called bookkeeping. Bookkeeping consists in recording business transactions in a systematic manner so that the results of the various kinds of business transactions may, at any time, be easily determined. 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.