Forensic Accounting
Much is made, toward the latter half of 1889, of a 1000 pound share purchase made by one Nemo, which effectively keeps The Two Worlds afloat. It is not the first such capital infusion The Two Worlds has required by the end of 1889: there are at least another 110 pounds explicitly mentioned as "anonymous gifts".
I'm having some trouble, given Nemo's injection of 1000 pounds in mid 1889, making sense of this:
The 1000 pounds for share purchase appears not to be accounted for; but that's probably my lack of familiarity with late Victorian accounting methods.
What is clear is that, at a net cash burn rate of 250-odd pounds a year (call that 25,000 of today's pounds and we wouldn't be far off), Nemo's gift was essentially four years of life for The Two Worlds, all else remaining status quo.
Interesting to note, as well, the possible reason for the change of printers mid-year in 1889 -- out of cash, and max'd out with John Heywood, the editors had no choice but to print elsewhere...and hurriedly.
Labels: Emma Harding, Emma Hardinge, Emma Hardinge Britten, Emma Hardinge-Britten
posted by Marc Demarest at
10:43 PM
2 Comments:
Hmmm. Also puzzling is how the losses of 284 and 224 pounds reside in the assets column (though categorized as "deficiencies"). This looks to me like they smushed a balance sheet together with an income/expense report.
Plus, what's the 284 pound loss from Sept 1887 to Dec. 31 1888 doing in the asset column for a balance sheet supposedly covering Dec. 31 1888 to Dec. 31 1889?
Perhaps they had Albert Rawson as Treasurer? Haha.
Laughing. Pat knows more about accounting standards for the period than I do, but I'm inclined to agree with you -- it's a mish-mash.
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