Journal of Accountancy, Volume 28American Institute of Certified Public Accountants, 1919 - Accounting |
From inside the book
Results 1-5 of 62
Page 12
... fund upon which to draw for the occasion we may be discredited , although perhaps unjustly . A fair allowance of time for preparation in looking up matters which are to be discussed is only right , but the better we are prepared to deal ...
... fund upon which to draw for the occasion we may be discredited , although perhaps unjustly . A fair allowance of time for preparation in looking up matters which are to be discussed is only right , but the better we are prepared to deal ...
Page 33
... funds for personal expenditures . Assume further that there are no profits available from which to draw and that B borrows $ 20,000 from the firm on his promissory note . The note carries six per cent . interest and is payable to the ...
... funds for personal expenditures . Assume further that there are no profits available from which to draw and that B borrows $ 20,000 from the firm on his promissory note . The note carries six per cent . interest and is payable to the ...
Page 34
... funds . If he invests the $ 20,000 in property without any loss in value , the position of the creditors is essentially unchanged . If B loses or spends this sum his estate is diminished by $ 20,000 and the ulti- mate security of the ...
... funds . If he invests the $ 20,000 in property without any loss in value , the position of the creditors is essentially unchanged . If B loses or spends this sum his estate is diminished by $ 20,000 and the ulti- mate security of the ...
Page 35
... funds the partners " borrow " these funds from time to time , depositing their personal promissory notes carrying an agreed rate of interest to cover these borrowings . ( Net income , it may be assumed , is divided equally and withdrawn ...
... funds the partners " borrow " these funds from time to time , depositing their personal promissory notes carrying an agreed rate of interest to cover these borrowings . ( Net income , it may be assumed , is divided equally and withdrawn ...
Page 38
... funds to be used by B for six months . But has the partner- ship as an enterprise earned anything ? The foregoing brief discussion would seem at least to indicate that there is good reason for viewing all transactions between partner ...
... funds to be used by B for six months . But has the partner- ship as an enterprise earned anything ? The foregoing brief discussion would seem at least to indicate that there is good reason for viewing all transactions between partner ...
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Common terms and phrases
actual additional allowance amount annuity applied assets audit authorized balance balance-sheet basis beginning bonds building capital stock carried cash cent certificate charged claim column computed consideration corporation cost cover deduction depreciation determined difference discount dividends earned effect entire entries examination excess expenses fact filed fixed flour fund given important included income increase institute interest inventory invested capital issued less liability loss March material method month necessary notes operating original paid partnership payable payment period person plant practice preferred premium prepared present value principle production profits proper purchase question reason received records regard regulations rents represent reserve result rule selling shares shown sold statement stockholders surplus taken taxable taxpayer tion treasury United
Popular passages
Page 220 - ... in any manner whatever not provided by law any income return, or any part thereof or source of income, profits, losses, or expenditures appearing in any income return; and any offense against the foregoing provision shall be a misdemeanor and be punished by a fine not exceeding $1,000 or by imprisonment not exceeding one year, or both...
Page 139 - The amount of all items of gross income shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under methods of accounting permitted under section 41, any such amounts are to be properly accounted for as of a different period.
Page 47 - All the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including a reasonable allowance for salaries or other compensation for personal services actually rendered...
Page 315 - One of the original members shall be appointed for a term of one year, one for a term of two years, one for a term of three years, one for a term of four years, and one for a term of five years...
Page 379 - ... all losses actually sustained within the year and not compensated by insurance or otherwise...
Page 379 - ... such net income shall be ascertained by deducting from the gross amount of its income received within the year from business transacted and capital invested within the United States and any of its territories, Alaska and the District of Columbia (first), all the ordinary...
Page 221 - ... any income return, or to permit any income return or copy thereof or any book containing any abstract or particulars thereof to be seen or examined by any person except as provided by law; and it shall be unlawful for any person to print or publish in any manner whatever not provided by law any income return or any part thereof or source of income, profits, losses, or expenditures appearing in any income return...
Page 381 - Treasury, is hereby authorized to make all needful rules and regulations for the enforcement of the provisions of this Act.
Page 377 - That in case a person or persons supplying a contractor with labor or material as provided by the Act of Congress, approved February 24, 1905 (33 Stat.
Page 376 - ... in case of any default in the performance of any of the conditions or stipulations of such penal bond.