ACCOUNTING
THEORY AND PRACTICE

A TEXT-BOOK FOR COLLEGES AND
SCHOOLS OF BUSINESS ADMINISTRATION

ROY B. KESTER, Ph.D.

CERTIFIED PUBLIC ACCOUNTANT; PROFESSOR OF ACCOUNTING,
SCHOOL OF BUSINESS,COLUMBIA UNIVERSITY

VOLUME I

(FIRST YEAR)

SECOND EDITION

Third Printing

NEW YORK
THE RONALD PRESS COMPANY
1922

To My Father and Mother

An Appreciation of Their Steadfast
Interest in My Work

ACCOUNTINGTHEORY AND PRACTICE