Word: debits
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...President of Ecuador, tried to learn accounting in a humble government job. His boss, according to an Ecuador legend, put him in charge of the petty-cash box. "Look," he said. "On this page, the credit side, write down everything that comes in. On the other page, the debit side, write everything that goes...
...first day, young Velasco submitted his report. Two entries caught his boss's eye. They were: "Credit: two nuns came in." "Debit: ten sucres [$4.87]* went...
...Debit Side. To the U.S., the cost of victory on Okinawa was steep, and to some jittery observers it might even seem staggering. But the island had been secured in 82 days, only twelve days more than the time originally estimated for its capture. In overall U.S. casualties it was indeed the bloodiest campaign of the Central and Western Pacific, but in proportion to the harm done the enemy, it was far from being the most costly. At Tarawa, where an estimated 5,000 Japs died or were captured, 1,000 Americans died and 2,000 were wounded-an overall...
...that such regulation will increase the national debt, Copland stated, "In this country there is a tendency to over-emphasize the role of the national debt and underemphasize that of national wealth. A man will treat a newly-floated stock as an asset, but considers a government bond a debit, even if he owns the damned thing...
...Josephson chalks up much on the debit side also. Pan Am's mail and passenger rates were high (in 1940 the U.S. paid domestic airlines ⅓ the rates paid Pan Am). Pan Am always argued that this was necessary because it had to build its own port facilities. Yet six months after American Airlines started service to Mexico in 1942, Pan Am cut its Latin American fares 10%, and slashed its Mexican fares still more. But Josephson cites as the biggest objection to Pan Am's monopoly its failure to keep up technically with U.S. domestic airlines. Although...