These costs are recorded in ledger accounts throughout the life of the job or batch and are then summarized in the final trial balance before the preparing of the job cost or batch manufacturing statement.
32.
Whitmore was ambivalent as to whether idle capacity costs should be written off as period expenses, but he urged that they be segregated from normal production costs in a ledger account called Factory Capacity Idle ."
33.
The term " slush fund " is used in accounting to describe a general ledger account in which all manner of transactions can be posted to commingled funds and " loose " monies by debits and credits cancelling each other out.
34.
Modern computer software now allows for the instant update of each ledger account for example, when recording a cash receipt in a cash receipts journal a debit is posted to a cash ledger account with a corresponding credit in the ledger account for which the cash was received.
35.
Modern computer software now allows for the instant update of each ledger account for example, when recording a cash receipt in a cash receipts journal a debit is posted to a cash ledger account with a corresponding credit in the ledger account for which the cash was received.
36.
Modern computer software now allows for the instant update of each ledger account for example, when recording a cash receipt in a cash receipts journal a debit is posted to a cash ledger account with a corresponding credit in the ledger account for which the cash was received.
