Excerpt from Operating Expenses in Retail Jewelry Stores in 1919
The accounting system defines in detail exactly what items of receipts and expenditures are included in each account. It shows how to summarize these accounts for the year on a specially prepared profit and loss statement. For the use of dealers who, for one reason or another, are not prepared to keep double-entry books, there is also provided a system of record sheets which keeps separate the various sales, mer chandise, and expense accounts. The store already having a satisfactory accounting system can readily adjust its figures to the standard profit and loss sheet. This profit and loss sheet was used as the basis upon which reports were collected from the trade. Blank forms of the standard sheet were sent out in February, 1920, to 3826 representative jewelers throughout the country with a circular letter explaining brieﬂy the object of the work and asking for the cooperation of the trade.
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