Word: owing
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Dates: during 1930-1939
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...relative to efforts of Johns-Manville's Brown to clarify his company's financial statements, resulting in what TIME calls a "notable simplification of a balance sheet." [In his statement, Mr. Brown points out that the balance sheet is the statement of "what we own, what we owe and what we are worth...
According to Mr. Brown's balance sheet of December 31, 1937, "what we own" amounts to $51,281,512.56 and "what we owe" amounts to $4,845,554.69. On the basis of Mr. Brown's exposition, the company is "worth" the difference...
Which is correct ? If the latter, you owe an apology to the RFC, which seems to be the only Government agency that has not played fast and loose with the taxpayers' money...
...Brown's triumph of exposition was this notable simplification of a balance sheet. "Very simply," he said, "it is a statement of what we own, what we owe and what we are worth. ... It is exactly the same as if you took two sheets of paper and on one listed the cash you have, the value of your home, car and furniture, and the dollar 'Bill Jones' owes you. On the other sheet you list what you owe the grocer . . . what you owe on your car. Then subtract what you owe from what you own. The result...
...cannot be made without the loss of much valuable time, and care now will pay large dividends later on. Above all, the worst thing they can do is to drift into any field at all, expecting to have an education shoved down their throats, as it were. Freshmen owe it to themselves to use their common sense during the next few weeks and come to an intelligent decision...