Up from Slavery - An Autobiography

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ... (6) Columns for Discount on Purchases and Discount on Notes on the same side of the Cash Book; (c) Columns for Discount on Sales and Cash Sales on the debit side of the Cash Book; (d) Departmental columns in the Sales Book and in the Purchase Book. Controlling Accounts.--The addition of special columns in books of original entry makes possible the keeping of Controlling Accounts. The most common examples of such accounts are Accounts Receivable account and Accounts Payable account. These summary accounts, respectively, displace individual customers' and creditors' accounts in the Ledger. The customers' accounts are then segregated in another book called the Sales Ledger or Customers' Ledger, while the creditors' accounts are kept in the Purchase or Creditors' Ledger. The original Ledger, now much reduced in size, is called the General Ledger. The Trial Balance now refers to the accounts in the General Ledger. It is evident that the task of taking a Trial Balance is greatly simplified because so many fewer accounts are involved. A Schedule of Accounts Receivable is then prepared, consisting of the balances found in the Sales Ledger, and its total must agree with the balance of the Accounts Receivable account shown in the Trial Balance. A similar Schedule of Accounts Payable, made up of all the balances in the Purchase Ledger, is prepared, and it must agree with the balance of the Accounts Payable account of the General Ledger." The Balance Sheet.--In the more elementary part of the text, the student learned how to prepare a Statement of Assets and Liabilities for the purpose of disclosing the net capital of an enterprise. In the present chapter he was shown how to prepare a similar statement, the Balance Sheet. For all practical...

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About the author (2007)

Booker Taliaferro Washington, 1856 - 1915 Booker T. Washington was born a slave in Hales Ford, Virginia, near Roanoke. After the U.S. government freed all slaves in 1865, his family moved to Malden, West Virginia. There, Washington worked in coal mines and salt furnaces. He went on to attend the Hampton, Virginia Normal and Agricultural Institute from 1872-1875 before joining the staff in 1879. In 1881 he was selected to head the Tuskegee Normal and Industrial Institute, a new teacher-training school for blacks, which he transformed into a thriving institution, later named Tuskegee University. His controversial conviction that blacks could best gain equality in the U.S. by improving their economic situation through education rather than by demanding equal rights was termed the Atlanta Compromise, because Washington accepted inequality and segregation for blacks in exchange for economic advancement. Washington advised two Presidents, Theodore Roosevelt and William Howard Taft, on racial problems and policies, as well as influencing the appointment of several blacks to federal offices. Washington became a shrewd political leader and advised not only Presidents, but also members of Congress and governors. He urged wealthy people to contribute to various black organizations. He also owned or financially supported many black newspapers. In 1900, Washington founded the National Negro Business League to help black business firms. Washington fought silently for equal rights, but was eventually usurped by those who ideas were more radical and demanded more action. Washington was replaced by W. E. B. Du Bois as the foremost black leader of the time, after having spent long years listening to Du Bois deride him for his placation of the white man and the plight of the negro. He died in 1915.

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