Cover Image
close this bookAccounting for the Microbusiness - A Teaching Manual (Peace Corps, 1975, 105 p.)
View the documentInformation
View the documentAcknowledgement
View the documentIntroduction
close this folderThe system
View the document(introduction...)
View the documentThe preliminary interview
View the documentLesson # 1
View the documentLesson # 2
View the documentLesson # 3
View the documentLesson # 4
View the documentInstallation of the system
View the documentFollow-up visits
View the documentMonth end financial statements
View the documentAnalysis
View the documentThe financial statements
View the documentAdditional controls
View the documentOdd entries
close this folderAids
View the documentAccounting interview
View the documentThe object of accounting
View the documentBalance statement
View the documentAssets = Capital
View the documentAssets - Liabilities = Capital
View the documentProfit and loss statement
View the documentCost of goods sold
View the documentTrial balance
View the documentInitiation sheet
View the documentDefinition of debit and credit
View the documentThe evolution of debit and credit
View the documentTransactions
View the documentCash voucher
View the documentSales voucher
View the documentReceipt
View the documentDiagram of the system
View the documentCash book
View the documentGuide to accounting entries
View the documentCash transactions
View the documentCredit sales book
View the documentCredit purchases book
View the documentCredit sales
View the documentCredit purchases
View the documentPayments
View the documentLoans to employees section
View the documentLoans to employees list
View the documentBook of accounts: Title of account pages
View the documentMonthly inventory listing
View the documentGuide to financial statement elaboration
View the documentUniterrupted working capital flow
View the documentInterrupted working capital flow
View the documentInventory control - page examples
View the documentControl of postdated checks
View the documentAuxiliary cash on hand sheet
View the documentCredit payments with merchandise
View the documentAlternative Acc/Rec section

Odd entries

OBJECTIVES:

To stimulate creativity in the application of entries and accounts when applying odd transactions.

MATERIAL AIDS:

Aids 35, 36.

PROCEDURE:


1.

Dividing Profits among more than one owner.


1.1 If owners take cash from the company on a monthly basis, expense the amounts from profits. Instead of "Personal Expenses" an account called "Owners Expenses" would be used.


1.2 If owners reinvest their profits, a liability account for "owners profit" should be opened. This might include an individual account and summary control section. The entries would be a debit to "Owners Expenses" and a credit to the "Owners Profits" account. No cash is interchanged.

2.

Passing postdated checks from clients to suppliers.


2.1 Credit "Payments from Clients" Column and debit "Payments to Suppliers" Column. Then make similar entries in the Individual Account and Summary sections of the Credit Books.


2.2 Again, no cash is passed.

3.

Aid 35. Paying Workers or Creditors with product instead of cash.

4.

Aid 36. Another auxiliary method to organize accounts receivable when clients make payments in advance.


4.1 To be used only when student cannot master traditional approach.


4.2 Offers individual client control without a summary.


4.21 Individual section for those who have advanced money.


4.22 Individual section for those who owe money.


4.23 Must add up individuals debts at end of month.


4.3 Must organize Account Book accordingly.


4.31 Those who advance become liabilities listed among accounts payable.


4.32 The list of debtors is the accounts receivable