Hate to face these Mondays

[Black Bart]

-- maybe somethin' light....

Brother "X" was a Franciscan monk who lived during the Italian Renaissance. While he is often called the "Father of Accounting," he did not invent the system but rather described a method used by the merchants of Venice. His system included most of the accounting cycle as we know it today; describing the use of journals and ledgers, demonstrating year-end closing entries, and proposing that a trial balance be used to prove a balanced ledger.

Brother X warned that a person should not go to sleep at night until the debits equaled the credits!*

* -- I heartily concur! We here at Black Bart Boondoggles, LLC adhere to and strictly enforce that very same work ethic.

[Jiggers]

Missing option

There is a missing option. "Who gives a flip?"

Just kidding.

[Black Bart]

Go to the ant,

There is a missing option. "Who gives a flip?"

Just kidding.

thou sluggard; consider her ways, and be wise." -- Proverbs 6:6-8

[JohnH]

There are only 3 things you need to know to understand accounting:

1) Post debits toward the window, credits toward the door.
2) Two plus two = four (unless it needs to be something else)
3) You can't pay the rent with accounts receivable

[Nashville]

1492

Although I doubt it was Christopher Columbus, I was taught by one of those smart college guys that the double-entry bookkeeping system was invented in 1492, the same year Columbus discovered Hispaniola.

Speaking of a Blast from the Past --

Beaujalois is French, you idiot. But he's probably old enough to have invented it. After all, he once talked you into filing a 1065 for two kids with a lemonade stand, right? Those were the good 'ole days - wish he would come back...

[Black Bart]

The Friend of the 1065.

...Beaujalois is French...he once talked you into filing a 1065 for two kids with a lemonade stand, right? Those were the good 'ole days - wish he would come back...

Yes, the late, great Beaujolais is indeed missed and mourned. A stickler (some said "stick-in-the-mud") for detail, he was widely renowned as the soul of scruple and the proctor of protocol. The lemonade stand staff consisted of one child and one imaginary friend, the existence of whom Armando argued ("if it quacks like an entity...") that such "friend" constituted a second individual entity, therefore two partners, therefore...a partnership return.

As you may recall, he took a hardline position on depreciation of partnership assets. Even though magnanimously allowing seven years on the office fixtures (a sheet of plywood and six cinder blocks), he insisted on 39 years for the "office" (a cardboard "Frigidaire" box). Nevertheless, three summers of wind, rain, and sun have taken their toll -- the office (unisured) may have to be abandoned. What do you suppose his stance on that would be? 4797? Possible casualty loss?

P.S. Isn't it awful about these prices? Lemonade jumped from five cents to one dollar a cup overnight (it seems the Chinese and the Indians are now drinking/demanding the stuff).