y'   l 19PRESENJTEID TO                           i|          L.X'iTNE A.                    I..R  A            -RI
OF THE
AL TREATISE
T Unive sity o                  ichigan
|....... ^ —-   ------- S-X —--:,  W I
^              -   ^         -         - 1 - - - - -   -------
e tiL  -- -__,_ _=_           — ____ -_   =-r_-        tures are affixed to the opinion!J[!i,.Ls~~~~~~~~~ ~al houses which they represent,
Wet -:  ^y.;i:.the Publishers feel assured that no stronger testimony to the merits of the work can.... ^.. be given, and they therefore submit it alone.
^3: -:Q::xOPINION OF PRACTICAL ACCOUNTANTS.
We, the undersigned, have carefully examined "An Inductive and Practical
Treatise on Book-keeping by Single and Double Entry," by S. W. Crittenden,
Accountant, and are free to bestow upon it our unqualified commendation. It is
well suited for a text-book for the teacher, a guide for the learner, and a book of
reference for the practical accountant.
The elementary portion is simple, clear, comprehensive, and so gradually progressive
that each want and difficulty of the student appears to be successfully anticipated,
while such definite and satisfactory reasons are given for each progressive step as to
furnish the basis for further advancement.
The questions for review, which are interspersed through the work, afford to teachers
a ready method of testing the amount of knowledge acquired by their pupils, while
they serve to fix previous instruction more firmly in the mind.
But the chief excellence of the treatise consists, in our estimation, in its PREEMINENTLY PRACTICAL character; the author having obtained, from practical accountants in some of the most systematic and best-regulated Houses of our large cities,
the various LABOR-SAVING methods which long experience had suggested for their
adoption, and incorporated them with his own theory and practice, thereby furnishing
the most advantageous forms of books for various kinds of business. These PRACTICAL FORMS embrace two different methods of keeping books (by double entry) for
Jobbing Houses, one for Foreign Shipping Business, one for Commission Houses, one
for an extensive and one for a small Retail Business, and a form for Professional Men
and Mechanics, besides a fac simile of Western Steamboating Business.
On the whole, we think this by far the most complete work we have examined on
the subject.
Philadelphia, March, 1850.
WILLIAM B. JOHNSTON, of firm of Caleb Cope & Co., 165 Market St......  BENJ. F. DEWEES, Book-keeper for M. L. Hallowell & Co., 143 Market St.::.-::    Jos. P. HUTCHINSON, Book-keeper for Siter, Price & Co., 133 Market St.:   ROBERT F. WALSH, firm of David S. Brown & Co., 38 S. Front St.
-.:.:  BENJ. V. MARSH, Book-keeper for Wood, Abbott & Co., 127 Market St.
S:::::AML. C. MORTON, President of American Fire Insurance Co.
^:::.:.:::-:..THOMAS KIMBER, JR., of Hacker, Lea & Co.:::::: B. WYATT WISTAR, Book-keeper for John Farnum & Co.
I.c~i::^0:t:::ii::::::   i:ci:::^:i:::^^:::i~:           1:~~




V..
Ac  r@t> -X-*X-.*-**-^:^-.-.** 6 ^XX* *uX- RvS- ^-. ^-.  ab*44:. -*; ****. -*''.'*'-'.-*' **.."*.x'*''.>:''o'
<><X>CCC<0XC= X>X
[Signatures to "Opinion of Practical Accountants" continued.] i  l
<                                 ski.*'..;:.f;,..,. m~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~'2: 
I.-:.:1 X, X.  New York, March, 1850.;^,GURDON MILLER, Book-keeper to N. L. & G. Griswold, 72 South St.:  S. H. PIERSON, of Alfred Edwards & Co., 122 Pearl St.>lx
8  J. T. DAVENPORT, Book-keeper to Bowen & McNamee, 112 & 114 Broadway..
X..   H. T. CAPEN, Book-keeper to Bulkley & Claflin, 68 Cedar- 18 & 20 Pine St..
(   0C. W. HUBBELL, Book-keeper to Lee & Brewster, 44 Cedar St.A.X:HENRY MCKAY, Book-keeper to A. T. Stewart & Co., Broadway and Reade St..  <.N. S. OGDEN, Cashier of Phoenix Bank..:
X  R. WITHERS, Cashier of Bank of the State of New York.:..WM. P. BRINTNALL, with Francis Skinner & Co., New York, Branch of F. Skinner.:   & Co., Boston..Boston, April, 1850.><:CHARLES H. PARKER, of A. & A. Lawrence & Co...
^. GILMAN COLLAMORE Book-keeper to R. G. Shaw & Co., 51 Commercial Wharf.. 
S J. W. BOURNE, Book-keeper to J. W. Paige & Co.:.:JOHN C. J. BROWN, Book-keeper with S. Frothingham, Jr. & Co.::
Jos. MURDOCK, Book-keeper to Read, Chadwick & Dexter, 29 Milk St.>''
y> |    Baltimore, April, 1850..::.
0..I. DYKES, Book-keeper to Wyman, Appleton & Co...
A. J. ROLLIN BESTOR, Book-keeper for DuvaUll, Rogers & Co., 281 Market St...:<.CHARLES B. TYSON, Book-keeper to Duvall, Keigler & Co.                X:X' S.A,X...   -...
Cincinnati, May, 1850.;:.
JOHN GUNDRY, Principal of Mercantile College.             X:.:W. E. RIANHARD, Book-keeper for J. & J. Slevin.:.F. G. HUNTINGTON, Book-keeper for J. D. & C. Jones & Co.::.:  JoS. HARDING, Book-keeper for Springer & Whiteman.:
-; CHARLES STEWART, Book-keeper for Miller, Brown & Hawkins. X...
X  JOHN R. CHILD, JR., Book-keeper for John R. Child & Co..:
A.:;DAV. SMITH, Book-keeper to Harrison & Hooper.
* 5   I. RICHEY, Book-keeper to T. O'Shaughnessy & Co..0'.,r    St. Louis, May, 1850.:SC. Y. LYMAN, Book-keeper to Crow, McCreery & Co.:.
NJOHN SHARP, Book-keeper to Woods, Christy & Co.           a::
-.1HENRY CABOT, Book-keeper to R. & W. Campbell.*..   fNew Orleans, July, 1850.:-x
C  J. M. BURKE, Book-keeper to Fearn, Donegan & Co.;':X:R. S. MCREYNOLDS, Book-keeper to Lowe & Pattison.m;
X iP. PRUDHOMME, Book-keeper for Moon, Titus & Co., 122 Gravier St.
















AN
INDUCTIVE AND PRACTICAL TREATISE
ON
BOOK-KEEPING
BY
SINGLE AND DOUBLE ENTRY,
DESIGNED FOR
COMMERCIAL INSTITUTES, PRIVATE STUDENTS, AND PRACTICAL ACCOUNTANTS:
CONTAININING
FOUR    SETS OF BOOKS BY SINGLE ENTRY,
AND
SIX  SETS BY DOUBLE ENTRY.
ALSO,
a Mt of it nevmnat Oats;
PRACTICAL FORMS FOR KEEPING BOOKS,
CALCULATED TO SAVE LABOR IN THE VARIOUS BRANCHES OF BUSINESS;
COMMERCIAL CALCULATIONS;
A TABLE OF FOREIGN COINS AND MONEYS OF ACCOUNT, ETC.
BY
S. W. CRITTENDEN, ACCOUNTANT,
AUTHOR OF AN "INDUCTIVE AND PRACTICAL TREATISE ON BOOK-KEEPING," HIGH-SCHOOL EDTION, AND OF "AN ELEMENTARY
TREATISE ON BOOK-KEEPING, FOR COMMON SCHOOLS."
PHILADELPHIA:
E. C. & J. BIDDLE, No. 8 MINOR STREET,
(Between Market and Chestnut, and Fifth and Sixth Sts.)
1857.




ENTERED according to act of Congress, in the year 1853. by
S. W. CRITTENDEN,
in tb) Clerk's Office of the District Court of the Eastern District of Pennsylvanra.
STEREOTYPED BY L. JOHNSON AND CO.
PHILADELPHIA.
Printed by T. K. & P. G. Collins.




CONTENTS.
PAGE
PREFACE...........................................................................................                5, 6
BRIEF PLAN OF THE WORK....................................................................................  7, 8
VOCABULARY OF ABBREVIATIONS, CHARACTERS, AND MERCANTILE                                  TERMS.................................             9-12
Singfe (intt'r.
INTRODUCTION           1....................................................................                           14
SET I, Business of a Painter and Glazier.
Explanatory Remarks.................................................................................  16, 17
Instructions for writing up...............................................................................  17, 18
Cash-Book.......................................................................................................       19
D ay-B   ook............................................................................................................         2,  21
Leger..............................................................................................              22, 23
Deductions..........................................................................................................         24
Questions for Review............................................................................................                  25, 26
SET II, Business of a Cabinet Maker-Partnership.
Explanatory       Remarks...........................................................................................                  28
Instructions for writing up.................................................................................           29
C ash-B   ook...........................................................................................................         0,  31
Day-Book...........................................................................................................             32-34
Alphabet or Index................................................................................................                     35
L eger.................................................................................................................          36-   38
Deductions....................................................................................                9
Questions for Review......................................................................................           40
SET III, Business of a Farmer.
Explanatory Remarks and               Instructions for writing up................................................                42, 43
History and       Elucidations......................................................................................             44-49
Farm    Account...............................................................................                                   50, 51
Inventory-Book.......................................................................................           52
D eductions........................................................................................................  53
Questions for Review.............................................................................................                     54
SET IV, Business of a Blacksmith.
Explanatory        Remarks..........................................................................................                  55
Leger, used as a book of original entry.....................................................................                      56, 57
Dou6fe (nttrl.
INTRODUCTION..................................................................................60-62
ITALIAN METHOD.
SET I, Cloths and Cassimeres-Gaining Business.
Explanatory Remarks and Instructions for writing up................................................                             63-65
D ay-B   ook...........................................................................................................         66,  67
Journal, with       Elucidations...............................................................................      68, 69
L eger................................................................................................................   70  - 72
Full Explanation of the method of Posting and Closing the Leger, with Trial Balances and
Inventory-Book..............................................................................................     73-75
Statements showing the result of the Business............................................................                         76, 77
Questions for Review...........................................................................................                  77, 78
SET II, Boots and Shoes-Losing Business-Closing Insolvent.
Instructions for writing up....................................................................................                       79
D ay-B   ook............................................................................................................          80,  81
Elucidations for Journalizing................................................................................  82, 83
Trial Balances and Inventory-Book...........................................................................                           83
Statements showing the result of the Business...........................................................  83, 84
Questions for Review............................................................................................                      84
SET III, Continuation of Set II-Commencing Insolvent-Closing with Net Capital.
Day-Book............................................................................................................              86, 87
Elucidations for Journalizing..................................................................................                       88
Trial Balance and Inventory-Book...........................................................................                            89
Statements showing the result of the Business...........................................................                              89
Questions for Review...............................................................................           90
General      Remarks......................................................................................................            90
DAY-BOOK IN JOURNAL FORM.
SET IV, Dealing in Real Estate, Stocks,'c.-Gaining Business-two Partners, investing equal amounts
of NAet Capital-Gains shared equally.
Explanatory       Remarks and Instructions for writing up................................................                             92
History and Elucidations........................................................................................                 93-95
Day-Book............................................................................................................             96-98
Leger...........................................................................................................   99 —102
3




CONTENTS.
PAGE
Trial Balance and Inventory.............................................................................  103
Statements showing the result of the Business................................................... 103, 104
Questions for Review...................................................................................     104
SET V, Produce, Grocery and Domestic Shipping Business-Losing Business-three Partners, one furnishing no Capital-Losses shared unequally.
Instructions for writing up........................9..........................................     92
History and Elucidations....................................................................................... 106-108
Trial Balance and Inventory...................................................................................     109
Statements showing the result of the Business............................................  109, 110
Questions   for  Review.............................................................................................  111,  112
Remarks on Detection and Correction of Errors.........................................................111
BALANCE SHEETS AND LEGER ACCOUNTS.
Balance Sheets explained and Formulas given..................................................................... 114-116
Leger Accounts discussed................................................................................................ 117-120
Questions   for  Review..............................................................................................   121
DAY-BOOK IN JOURNAL FORM-CASH ENTERED SOLELY IN THE CASH-BOOK, AND TRANSFERRED
MONTHLY TO THE DAY-BOOK.
SET VI, Foreign Shipping and General Commission Business.              Two Partners at commencing, and afterward a third taken in.
Explanatory Remarks and instructions for writing up.................................................  124, 125
History and Elucidations................................................................................... 126-138
Day-Book A.................................................................. 139-144
Day-Book B............................................................................................ 145-148
Cash-B  ook...........................................................................................................  149- 153
Index and Leger A.......................................................................................... 155-160
Index   and  Leger  B................................................................................................  161- 165
Inventory-Book and Trial Balances.......................................................................... 166, 166
Auxiliary Books for Set VI.
Bank-Book and Check-Book.............................................  170, 171
Bill-B ook............................................................................................................  172,  173
Invoice-Book......................................................................................     174
Sales-B  ook..........................................................................................................  175
Outward-Invoice-Book.............................................       176
Account-Sales-Book..............................................................................................  177,  178
Account-Current-Book...............................................................................  179, 180
Letter-Book..................................................................................       181
Additional Auxiliaries....................................................................................     182
Leger Accounts (continued from         page 120).........................................................................  183
Questions   for  Review,  Set VI............................................................................................  184
STEAMBOAT BOOKS.
Books of Steamboat Sultana for two Trips.
Explanatory Remarks and Instructions for the Student...............................................                185
Freight-Book.......................................................................................   186-   189
Passage-Book......................................................................................................  190,  191
Cash-Book.......................................................................................................... 192-195
Journal..............................................................................................................  196
Index   and  Leger..................................................................................................  197-199
Crew's  Leger.......................................................................................................  200- 203
Balance Sheet, Manifest, Steamboat Report, Bill of Lading, Bill for Freight...................               204, 205
Forms of Notes, Due Bills, Drafts, Bills and Sets of Exchange, Orders and Receipts................. 206-208
PRACTICAL FORMS TO SAVE LABOR IN KEEPING BOOKS.
Preliminary Remarks....................................................................................................  210
PRACTICAL FORM, No. 1, for Professional Gentlemen, Mechanics, Teachers, and others.................... 211-216
PRACTICAL FORM, No. 2, for Retail Merchandising Business.................................................... 217-224
PRACTICAL FORM, No. 3, for Wholesale, Jobbing, Manufacturing, Retail, or General Trading Business 225-238
PRACTICAL FORM, No. 4, for Wholesale, Jobbing, Importing, or Manufacturing Business.................. 239-249
PRACTICAL FORM, No. 5, for Wholesale and Retail, or Extensive Retail Business............................                  250
PRACTICAL FORM, NO. 6, for Commission and Company Speculating Operations.............................. 251-264
Form   of a Continued Monthly Trial Balance.......................................................................  265
Forms of Receiving and Forwarding Books...........................................................................        266
COMMERCIAL CALCULATIONS, OR MERCANTILE ARITHMETIC.
Interest, Discount, Bank Discount, and Discount on Bills and Invoices................................... 268-271
Insurance, Commission, and Loss and Gain......................................................................  272, 273
Equation of Payments (commonly called Average) both Simple and Compound........................ 23-277
Equation applied to the Storage of Property....................................................................... 277, 278
Exchange on Great Britain and Indirect Exchange.............................................................. 278-280
Tables of Foreign Coins and Moneys of Account................................................................ 280-286
Tim  e  Tables..2                                                                                                        2.......................................................................  287, 288
4




PREFACE.
IN the fall of 1845, a treatise on Book-Keeping was published, entitled, "An Inductive and Practical System of Double Entry Book-Keeping," in two editions,
one for the Counting-House, and the other (being an abridgment of the Counting-House
edition) for High-Schools and Academies.  In the preparation of that work for the
press, the author of the present treatise was associated with his brother, A. F. Crittenden.
In 1849, having purchased all his brother's interest in the former work, he prepared
for publication as sole author a new treatise, (also in two editions,) similar in many
respects to the former, but much more extended, embracing Single as well as Double
Entry Book-Keeping, and made to conform more fully to the actual practice of our
best accountants. Both these publications ran through several editions, and the latter
especially has met with the most favorable reception in all parts of the United States,
each succeeding year having shown a greatly enlarged demand for it.
The favor thus shown the work did not cause the author to lessen his endeavors to
improve it, but rather stimulated him to increased effort to merit the favor bestowed
upon it, and led to the publication of the present edition, which, as compared with the
former, is improved in every way which the additional experience of several years in
teaching in a large city, daily intercourse with practical accountants, and almost constant exercise in adjusting intricate accounts for others could suggest to him. In his
efforts to improve the work he has been kindly and liberally aided by his publishers,
who have spared no expense which would tend to make it more useful and acceptable.
It must be apparent to every careful observer that the science of Book-Keeping has
of late received much more attention in our country than in former years, not only
among merchants and business men generally, but in schools, both public and private;
and the author confidently believes that the time is not far distant when it will be considered as essential a branch of an English education as Arithmetic or Grammar now is.
Entertaining this opinion, he prepared for the press "An Elementary Treatise on
Book-Keeping by Single and Double Entry, designed for Common Schools," which was
published in April of this year, and which he trusts may prove a valuable auxiliary to
teachers.
The three publications on Book-Keeping above named are now so arranged as to
harmonize with each other, and to supply a series of text-books adapted, it is believed,
for the use of learners at different stages of advancement, from the school-boy and mere
tyro in commercial knowledge, to the man of mature years and cultivated business
habits; while the more advanced work of the series will, the author hopes, be found
to be not unworthy a place on the desk of the experienced accountant, as a book of
reference.
The following is a concise summary of the leading features of the Counting-House
edition, as now presented to the public:
1. Each set of books is so short that the pupil will be enabled to comprehend and trace out the connection between corresponding entries in the several account books of the set, and will not become fatigued with the extent of his business before ascertaining its result.
2. A sufficient number of sets is given to illustrate the opening and closing of books, both individual
and partnership, under the various positions of gains and losses, capital and insolvency.
3. Plain and philosophical principles, to guide the reasoning faculties, are presented, instead of mere
arbitrary directions and unnecessary classifications; and in the part by Double Entry, all elucidations of debits and credits are based on one general rule deducedfrom the definition of debtor
and creditor.




PREFACE.
4. Many of the entries are so classified as to bring those of a similar nature or of a directly onDosite
nature together, and thus to impress them upon the mind by strong similarities and contrasts.
5. Each successive exercise is intended to be a step of progress in the science, but yet so short and
easy a step that what has already been explained shall be inductive thereto, and aid in its
achievement.
6. The Day-Book, or the original history of transactions, is all that is furnished for several sets,
to prevent the possibility of merely copying, and to compel the pupil to depend upon his own
mental resources for his entries. Trial Balances, and other proofs, are however given to test the
correctness of his work.
7. Each set is followed with questions for review, which will afford teachers an opportunity of ascertaining the amount of knowledge which their pupils have acquired, and will aid the pupil in
fixing that knowledge permanently in his mind.
8. The nature and object of the different Leger accounts are discussed after the student has been
made acquainted with the premises for reasonable conclusions.
9. The method of transferring accounts from one Leger to another is illustrated. Also, a business is
shown, in which two partners are interested at starting, but afterward a third is taken into the
concern.
10. A foreign shipping business is introduced. In preparing this important portion of the work, the
author consulted with many practical accountants, and he feels assured he has presented the
matter in a form well adapted to the wants of learners, and which will claim the approval of experienced book-keepers.
11. The space occupied with the Italian method of Book-Keeping (a form now obsolete in practice,
although the foundation of all other forms) is barely sufficient to give those general ideas of
journalizing, posting, &c., which must first be learned, and which can be better acquired under
this form than any other; while the main portion of the work is devoted to improved methods,
such as are now in use in counting-houses in the various branches of business.
12. An extended variety of practical labor-saving Forms for keeping books follows that portion of the
work intended for imparting a general knowledge of the science; the object of each Form and the
kind ofbusinessto whichitis best suited being particularly described. These Forms, it is believed,
far exceed in number and real utility those embraced in any other publication. They have been
revised with rigid criticism, and some which were formerly inserted have been thrown aside as
too theoretical, while others have been modified to make them the better suited to the specific
business intended; and the author's endeavor has been to furnish all-the teacher, the mechanic,
and the professional man, as well as the most extensive wholesale dealer, manufacturer, and
commission merchant, with such information as each severally needs.
13. A series of Commercial Calculations are given, worked by the shortest and most approved methods;
also, a Table of the Coins and Moneys of Account of the principal commercial nations of the world,
showing their intrinsic values estimated according to the United States Mint valuation.
14. A Key to the work has been published for the use of teachers and private students, which contains
the different Journals, Legers, Balance Sheets, &c., that are omitted in the treatise itself. Some
books which are omitted in the High-school edition, and therefore given in the Key, will be found
inserted in this edition, for the convenience of those who use it as a book of reference, and whc
do not wish to procure the Key.
15. Blank books, for writing up the sets, with printed explanations, have also been published.
The distinctive characteristics of the High-School edition are noticed in the Brief
Plan of the work, which follows this Preface.
The author returns his sincere thanks to the many gentlemen, comprising in the
number merchants, book-keepers, captains of vessels, and others, in various cities, (particularly in New York and Philadelphia,) who kindly aided him in his labors, both by
their advice and by furnishing such business details as could be acquired only by a long
pursuit of their several callings.
S. W. C.
PHILADELPHIA, Sept. 1st, 1853.
6




BRIEF PLAN OF THE WORK.
THIS work embraces illustrations of accounts kept by both Single and Double Entry.
In the Single Entry, contained in the first 57 pages, four sets of books are shown, with
entries for four different kinds of business, each set being preceded by explanatory
remarks, descriptions of the books used, &c., and followed by exhibits of gains or losses,
and of net capital or insolvency, resulting from the business, and by questions for review.
The author has endeavored to reduce the keeping of books by Single Entry (which is
at best only a series of memoranda) as nearly to scientific principles as possible; but in
his opinion the system of Double Entry alone deserves the appellation of Book-keeping;
and any one who becomes thoroughly master of it, will not relinquish it, but will keep
his accounts in accordance with its principles, whether engaged in business on a limited
or an extensive scale. The greater part of this treatise has therefore been devoted to
Double Entry Book-keeping.
In this Counting-House edition, the elementary portion of Double Entry, designed to
impart a general knowledge of the science, embraces three different methods of keeping
books. The first is the Italian method, so called from its supposed origin, and by this
method three sets of books are given. The second is a method of dispensing with the
Journal, and using a Day-Book in Journal form, from which postings are made direct to
the Leger:-two sets of books are thus shown. The third method is similar to the
second, with this variation, that the Cash-Book is the only book of original entry for
moneys received or paid out, these entries being transferred from the Cash-Book to the
Day-Book at the end of each month. This method is embraced in Set VI, which illustrates a foreign shipping and commission business, continued for three years-two partners for the first two years, and three partners for the third year. In the third year a
new Day-Book and Leger is introduced, and the method of transferring accounts from
one Leger to another is exhibited.  In connection with Set VI, the various auxiliary
books requisite in business are also given and explained.
Following the above-named six sets, is a set of Steamboat books, which will be found
particularly serviceable to clerks on our Western rivers and lakes.
Lastly, in order to show how a knowledge of Book-keeping may be most advantageously applied to any specific branch of business, six Practical Forms are given, embracing
labor-saving methods of keeping books, suited to mechanical, professional, retail, wholesale, jobbing, importing, manufacturing, and commission business. These Forms show
how the general principles laid down in the elementary portion of the work may be
applied to any particular method of keeping books which shall suit the taste of the bookkeeper, or be best adapted to the specific kind of business. They exhibit plans for
posting from one or more books of original entry, without journalizing, making the
postings to the various property accounts in monthly totals, while personal accounts are
posted daily-for journalizing monthly-for keeping commission books, without opening
Sales accounts in the Leger, &c. &c.
Full explanations of the nature and use of the different books belonging to each set;
the manner of opening and closing the Leger for individual or partnership business,
commencing with capital or without capital, and winding up with gains or losses-capital
or insolvency; directions for writing up the books, and also for the detection and correction of errors; questions for review; Balance Sheets, with instructions how to make
them out; a discussion of the nature and object of the different Leger accounts, their
modes of treatment, and the manner in which each is closed; and a Vocabulary of commercial terms, together with explanations of the abbreviations and characters made use
7




BRIEF PLAN
of in commercial transactions, will all be found in their appropriate places, and may be
readily referred to by means of the Table of Contents, pages 3 and 4.
At the close of the book, Commercial Calculations, Tables of Foreign Coins and
Moneys of Account, and Time Tables are given.
The SERIES OF PRACTICAL TREATISES ON BOOK-KEEPING BY SINGLE AND DOUBLE
ENTRY, of which this volume forms a part, comprises the following works:1. ELEMENTARY TREATISE ON BOOK-KEEPING FOR COMMON SCHOOLS.
KEY to the same.
BLANK BOOKS, for writing up the exercises contained therein.
2. INDUCTIVE AND PRACTICAL TREATISE ON BOOK-KEEPING: HIGH-SCHOOL EDITION.
KEY to the same.
BLANK BOOKS, for writing up the exercises contained therein.
3. INDUCTIVE AND PRACTICAL TREATISE ON BOOK-KEEPING: COUNTING-IOUSE EDITION.
KEY to the same.
BLANK BOOKS, for writing up the exercises contained therein.
No. 1, of the Series, was prepared with reference to the capacity of pupils of " Common" or " Grammar" schools, of from twelve to sixteen years of age, and elucidates the
principles of the science, and the application of those principles to the more simple
modes of keeping accounts, so that they may, it is believed, be fully understood by the
class of pupils referred to. It contains four sets of books by Single Entry, illustrating
four different kinds of business; and six sets by Double Entry, the first three of which
are kept by the Italian method, the fourth and fifth have a Day-Book in Journal form.
so as to dispense with the Journal, and the sixth is upon the plan of journalizing monthly.
No. 2, of the Series, is suited to pupils of a more advanced age, and a higher state of
progress, and is designed for use in the higher schools, academies and other institutions
of learning, in the United States, both male and female, public and private. All of the
Single Entry and the first three sets of Double Entry (by the Italian method) are nearly
the same as in the treatise for Common Schools, but the subsequent sets are varied and
more extensive. It contains seven sets by Double Entry. The fourth, fifth and sixth
sets are without a Journal, the Day-Book being in Journal form. The fifth illustrates
domestic shipping, and the sixth foreign shipping business. The seventh is a plan for
journalizing monthly, and illustrates a jobbing and importing business.
No. 3, of the Series, is intended as a book of reference for practical book-keepers, as a
text-book for commercial schools, or institutions designed to prepare young men for immediate entrance upon the active duties of accountants, and as an aid to private students
who wish a full and complete treatise. It is precisely like the High-School edition to
the end of the sixth set by Double Entry. Following this, is a set of Steamboat books,
and six different Practical -Forms, or shortened methods for keeping books, suited to mechanical, professional, retail, wholesale, jobbing, manufacturing and commission business.
The third of these Practical Forms is the same as Set VII of the High-School edition.
This edition also embraces numerous Commercial Calculations, a knowledge of which is
essential to the practical accountant, and Tables of Foreign Coins and Moneys of Account.
One word as to the style used by the author in this work. Knowing, from experience,
the great advantages to be derived from adopting the direct address in teaching, he has,
at the risk of incurring the charge of egotism, made use of pronouns of the first and
second person, (I and You,) instead of the third person; and is confident that those
who peruse with a desire to obtain information will be pleased that all formality has
thus been laid aside, and the conversational style adopted in its stead. To those whose
sole object is criticism, it need only be said, the book was not written for their pleasure.
8




VOCABULARY
OF
ABBREVIATIONS, CHARACTERS, AND MERCANTILE TERMS,
USED IN THIS WORK.
ABPBREVIATIONS.           ffav.        Favor.                 Per.         Personal.
Feb.        February.              Pr.         Pair.
Adv.         Adventure.             Fig'd      Figured.               pr.          [Per.] By.
Ac't         Account.               fol.       Folio.                 pr. ct.      [Per centum.] By the
Amer.        American.              Forw'd     Forward.                              hundred.
Ain't       Amount.                 Fr.        French.                Prem.        Premium.
Ans.         Answer.               fr.         From.                  Prof.        Profit.
Apr.         April.                 Fr't       Freight.               prox.        [Proximo.] The next
Ass'd or As'd Assorted.             Gal.       Gallon.                               month.
Aug.         August.                Guar.      Guarantee.             Ps.          Pieces.
Bal.         Balance.               Hhd.       Hogshead.              Rec'd        Received.
B.-B.        Bill-Book, Bank-Book.  I.-B.      Invoice-Book.          R.-R.        Rail-road.
Bbl.         Barrel.               i. e.       [Id est.] That is.     S.-B.        Sales-Book.
Bills Pay.   Bills Payable.        Ins.        Insurance.             Sept.        September.
Bills Rec.   Bills Receivable.      Inssol.    Insolvency.            Sh.          Share
B'k          Bank.                 inst.       [Instant.] The present  Ship't      Shipment.
Blk.         Black.                               month.              St'b't       Steamboat.
Bo't         Bought.                 t.        Interest.              Stor.        Storage.
Bro't        Brought.               Inv't      Inventory.             Sund's       Sundries.
Cap.        Capital.               Jan.        January.               Super. or S. F. Superfine.
C.-B.       Cash-Book.             Josir.      Journal.               Ult.         [Ultimo.]   The lat
Co.         Company.               J. F.       Journal folio.                        month.
Col'd       Colored.
Corn.       Commission, Commerce. Lab.         Labor.                 viz.         [Videlicet.]  To witCons't      Consignment.           lbs.        Pounds.                               namely.
Cr.         Creditor.              Leg.        Leger...          [Versus.] Against.
L. F.       Leger folio,.
D.-B.        Day-Book.                         Leger folio.           Weigh.       Weighing.
Dec.         December.              Mar.       March.                              Y
Dep.         Deposited.            3idse.      Merchandise.           yd8.         Yars.
D'ft         Draft.                 m. or mo.  Month.                 yr.          Ye
Dis.         Discount.              Mols.      Molasses.                       CHARACTERS.
Do.          [Ditto.] The same.     Mut.       Mutal.
Doz.         Dozen.                                                                At.
Dr.          Debtor.                N.. B      [Nota Bene.] Take no-               Account.
Dray.        Drayage.                            tice.                             Cents.
dl)s.        Days.                  No.        Number.                %            [Per centum.] By the
"d'  Days.          ~Nov.       November.                             hundred.
so.          Each.                  Oct.       October.                            Number.
E. E.        Errors excepted.       O.-.-B.    Outward-Invoice-Book.               Sign of addition.
E. & O. E.   Errors & omissions ex-                                   -             "   "subtraction.
cepted.              p.         Page.                  X             "   " multiplication.
Em b'd       Embroidered.           Pay't      Payment.                                 " division.
Eng.         English.               P.-C.-B.   Petty-Cash-Book.       =                 " equality.
Ent.         Entry.                 P'ch's     Purchases.              "           [Ditto.] The same.
Ex.          Example.               P'd        Paid.                  I1           One & one-quarter.
Exch.        Exchange.             P'k'g's     Packages.              12           One & one-half.
Exp's        Expenses.             P. & L.     Profit & Loss.         13           One & three-quarters.
MERCANTILE TERMS.
Abatement, a deduction or discount for damages on goods, or for payment of demands before due, etc.
Acceptance, 1st. The receiving of a bill of exchange or order, in such a way as to bind the acceptor to payment. It
consists in the acceptor's writing across the face of the bill "Accepted," and signing his name. If drawn payable
at a certain number of days' sight, the date of acceptance should also be given. 2d. A bill of exchange accepted,
Accommodation, a loan of money. When applied to bills of exchange it is where the drawee lends his name for the
use of the drawer.
Account-Current, an exhibit in detail of a running account between two or more parties.
Account-Sales, an exhibit of the sales of goods disposed of on commission, with the charges incurred thereon.
A d valorem, according to value. An ad valorem duty is a certain percentage on the first cost, or invoice price.
B                                     9




VOCABULARY.
Advance, additional price; profit; premium. Money paid on property or goods expected, or on goods held in possession for security.
Adventure, goods sent to a distance to be sold on commission. Any speculation in Co.
Advice, mercantile intelligence.
Annuity, a sum of money payable periodically, usually yearly.
Ante-date, to date before the present time; to date beforehand.
Arbitration, the hearing and determination of a cause between parties in controversy, by a person or persons chosen
for the purpose. A hearing before arbitrators though they make no award.
Assets, available means for payment of debts; goods, estate, and indebtedness of others.
Assignee, one to whom an assignment is made. One appointed or deputed for some specific purpose.
Assignment, conditional transfer of property to another. The property so transferred.
Assignor, one who makes an assignment.
Attachment, a claim on property legally executed.
Aune, a French cloth measure, one yard and a quarter.
Average, sums allowed for losses at sea. A medium time found by equation.
Balance, to close an account in the Leger. Difference between the debits and credits. An account in the Leger, into
which all balances are closed.
Bankrupt, insolvent. One unable to pay his debts.
Bill, or Bill of Parcels, a statement in detail of goods bought or sold.
Bills, a term applied to drafts, notes, etc.
Bill of Entry, a list of goods entered at the Custom-house.
Bill of Exchange, an order for the payment of money; usually applied to drafts on persons in another state or country
from the drawer.
Bill of Lading, a written account of goods shipped, having the signature of the master of the vessel on which shipped.
Bill of Sale, a contract, under seal, for the sale of goods.
Bill of Store, a Custom-house license for carrying to sea ship-stores and provisions free of duty.
Blank Credit, permission granted by one house to another to draw on it at pleasure to a specified amount.
Bona fide, in good faith.
Bond, a note. An obligation or deed by which a person binds himself, his heirs, executors, and administrators, to
pay a certain sum on or before a certain day.
Bonded goods, those for the duties on which bonds are given at the Custom-house.
Bottomry Bond, a mortgage or lien upon a vessel.
Brace, a measure of i of a yard.
Broker, a money or stock trader. Factor; agent.
Brokerage, a percentage for the purchase and sale of money and stocks.
Capital, stock in trade.
Cargo, the lading or freight of a vessel.
Catty, a Chinese weight of 1~ lbs. avoirdupois.
Carrying trade, the transportation of goods by vessels from country to country.
Charter-party, a written agreement between the owner of a vessel and the person to whom she is chartered.
Circular letter, a printed notice issued by a house, relative to its business.
Clearing a vessel, entering at the Custom-house all particulars relating to her when she is ready to sail, and paying
clearance charges.
Clearance, a certificate from a Custom-house that a vessel has been cleared.
Closing an account, making an entry to balance it, and drawing lines underneath to indicate that it is closed.
Cocket, a Custom-house warrant to show that goods have been entered.
Commission, a percentage allowed for the sale of goods.
Compound, to settle with a creditor by agreement, and discharge a debt by paying a part of its amount.
Compromise, an adjustment of differences by mutual concessions.
Consignee, one to whom goods or wares are consigned.
Consignment, goods sent to an agent to be sold for the consignor.
Consignor, the person making a consignment.
Contraband goods, articles prohibited by law to be imported or exported.
Contra, on the other side; opposite.
Convoy, ships of war sailing with other vessels as a protection.
Co-partnership, the union of two or more persons for purposes of trade.
Counter order, a revocation of a former order.
Credit, that side of an account which shows the amount due to the person or thing represented. The amount of
confidence reposed in another.
CustomR-house, the house where vessels are entered and cleared, and where the duties on goods are paid.
Days of grace, the days allowed for the payment of a bill after it becomes due. In the United States, and in Great
Britain and her dependencies, the number of days of grace is three; but it varies very much in other commercial
states, reaching 30 days in Genoa, there being none allowed at Leghorn. Bills drawn at sight are usually paid
when presented, without grace.
Debenture, drawback of duties on goods imported, when afterward exported according to law.
Debit. that side of an account which shows the indebtedness of the person or thing represented.
Defalcation, deduction; diminution. That which is deducted or cut off.
Demnurrage, forfeit money for detaining a vessel beyond the time specified in her Charter-party..Depot, a place where goods are deposited; a depository; a magazine.
Deviasion, the voluntary departure of a vessel, without necessity, from the regular and usual course of the specific
voyage insured, which frees the underwriters from obligation.
liscount, any deduction from the stipulated price of goods, or from a sum due or to be due at a future time.
D1ividend, gains on stock, shares in trade, etc.
Dock, a place to build, repair, or lodge vessels.
Dlraft, an order from one person on another for the payment of money; a bill of exchange.
Drawer, the one who draws a bill or draft on another. The maker of a note.
Drawee, the person on whom a bill is drawn.
10




VOCABULARY.
Irawback, amount paid back. Any loss of advantage, or deduction from profit.
Duplicate, a copy.
Dutil,. government tax on exported or imported goods.
Effects, money, property on hand, and debts due.
Ell Flemish (E. Fl.), a measure of i yd.
Embargo, a restraint on ships by Government; or prohibition of sailing either out of port, or into port, or both.
Enmporium, a mart. A town or city of trade; particularly a commercial city.
Endorse, to write one's name on the back of a bill; to become obligated for its payment.
Entry, a record made in an account book. The depositing of a ship's papers at the Custom-house, to procure license
to land goods.
Engross, to monopolize; to purchase the whole or large quantities of commodities, in market, so as to enhance the
price.
Equity of redemption, the advantage allowed to a mortgager, of a reasonable time to redeem lands mortgaged.
Exchange, the giving of one commodity for another. The place where merchants, bankers, and brokers meet, at
certain hours, to transact business. Discount and premium arising from the purchase and sale of bills and money.
Face, the amount for which a bill is drawn.
Fac-Simile, an exact copy.
Factor, an agent employed by merchants to buy and sell, or transact business, on their account.
Failure, a breaking or becoming insolvent.
Favor, a bill is said to be drawn in favor of the person to whom it is payable.
Finance, or Finances, revenue; funds in the public treasury. The resources or income of individuals.
Financier, one skilled in money matters. A revenue officer.
Firm, the name or title under which a company transact business; a partnership, or house.
Flat, low, [as to the prices of goods;] or dull, [as to sales.]
Foreclose, to foreclose a mortgage is to cut a mortgager off from his equity of redemption.
Folio, page of an account book; both the right and left hand pages expressed by the same figure.
Freight, lading; that which is carried by water. Sum charged by a vessel for the transportation of goods.
Guarantee, or Guaranty, indemnity or security against loss; a pledge for the fulfilment of stipulations; one who binds
himself to see the stipulations of another performed.
Grace, see Days of grace.
Honor, as applied to drafts, means to accept and pay when due.
Hypothecate, to pledge; to give as security.
Hypothecated, pledged, as security for money borrowed.
Importation, the bringing of goods from another country to one's own country. The commodities imported.
Insurance, security against loss. The premium paid for insuring property or life.
Insolvent, not having money, goods, or estate sufficient to pay all debts. A debtor unable to pay his debts.
Instalment, a part of a sum of money paid, or to be paid, at a particular period.
Interest, a percentage paid for the use of money.
International, relating to the mutual intercourse between different nations.
Inventory, an account in detail of property.
Invoice, see Inventory. Inventory is generally applied to a catalogue of goods on hand; Invoice, to goods purchased,
received from abroad, or about to be shipped.
Land Waiter, a Custom-house officer whose duty it is to wait or attend on the landing of goods.
Lease, a contract granting possession of property for a stipulated time.
Letter of Attorney, a writing by which one person authorizes another to act in his stead.
Letter of Credit, a letter authorizing one person to receive funds on the credit of another.
Letter of License, a written permission to a person under embarrassment to conduct his business for a time without
molestation.
Letter of Marque, a written commission or authority given by government to private vessels, to make reprisals on tha
vessels of another nation.
Liabilities, debts of an individual, or claims against him.
License, a legal permit to sell certain articles of merchandise.
Lien, legal claim, as a lien upon land, houses, &c.
Lighter, a craft used to lighten vessels in shoal water.
Lighterage, a charge for carrying goods to and from a vessel in a lighter.
Liquidation, the act of adjusting and paying debts.
Manifest, an exhibit of a vessel's cargo.
Mart, a place of public sale and traffic.
Maturity, the time when a bill falls due.
Maximum, the highest price of an article.
lMerchandise, the usual articles of trade.
Metre, a measure of 1Ty yds.
i2nimum, the lowest price of an article.
Mint, a place where money is coined.
Mortgage, the grant of an estate in fee, as security for the payment of money.
Mortgager, the person who grants or pledges property, for security of debt.
Mortgagee, the person to whom an estate is mortgaged.
Net proceeds, the remainder after deducting all charges from the amount of gross sales.
Net weight, the weight of a commodity after deducting tare, and all other allowances.
Non claim, a failure to claim within the time limited by law. Omission of claim.
11




VOCABULARY.
Notary, or Notary Public, a person legally authorized to attest contracts, or writings of any kind; also to take note
of the non-payment of bills, promissory notes, &c., which is called protesting.
Note, a written obligation to pay money. A memorandum.
Obligation, indebtedness. A bond, with a consideration annexed, and a penalty for non-fulfilment.
Obligee, the person to whom another is bound.
Obligor, the person who binds himself, or gives his bond to another.
Order, a request to deliver or pay to a person certain moneys or goods. Any request made of another in writing.
Par of Exchange, the intrinsic value of money, when compared with that of other countries, both in weight and
fineness.
Partnership, see Co-Partnership.
Payee, the person to whom money is to be paid.
Per annum, by the year.
Picul, a Chinese weight of 133* lbs. avoirdupois.
Policy, or Policy of Insurance, the writing, or instrumenc, by which a contract of indemnity to the insured is effected
between him and the insurer.
Portage, the incidental sums paid by a Captain in running his vessel.
Postdate, to date after the real time.
Posting, transferring the Journal entries to the Leger.
Power of Attorney, authority given to a person to act for another.
Price Current, a list of various articles of Mdse., with their market values.
Principal, the chief of a commercial house or firm. Capital sum due, lent, or owed, in contradistinction to interest.
Primage, a percentage allowed to the master of a vessel on the amount of freight transported.
Procuration, the act of procuring. The instrument by which a person is empowered to transact business for another.
Pro forma, according to form. Thus a pro forma Account-Sales is an imaginary Account-Sales, made out in form
of a real one, to send to parties abroad, to give information of prices, charges, commission, &c.
Promissory Note, a writing which contains a promise of the payment of money, or the delivery of property at or
before a specified time.
Protest, a Notary's document, declaring that a bill was not accepted when presented, or was not paid when it fell due.
Quarantine, restraint of intercourse to which a ship is subjected, for a limited term, on the presumption that she may
be infected with a malignant, contagious disease.
Rate of Exchange, the per centum above or below the par value of a bill of exchange.
Rebate, or Rebatement, abatement of price; deduction for prompt payment.
Receipt, a writing acknowledging the receipt of money or goods.
Remittance, bills or money sent from one house to another. The act of sending the same.
Renewal of a Bill, prolonging the time of payment.
Resources, funds, money, or that which may be converted into supplies. See Assets.
Salvage, a reward allowed for saving property from loss at sea.
Schedule, a piece of paper or parchment containing an inventory of goods.
Sea-worthy, fitted in every respect for a voyage.
Seize, to take possession by virtue of a warrant, or legal authority.
Set of Exchange, a number of Bills of Exchange, (usually three,) drawn of the same tenor and date. Each bill is
forwarded by a different conveyance, to prevent failures, and one of them being paid, the remainder are of no
value.
Shipment, the act of putting goods on board a vessel. The goods shipped.
Sight, or at sight, the time when a bill is presented to the drawee.
Signature, the name of a person written or subscribed by himself.
Sine die, without fixing the day.
Sine qua non, without which a thing cannot be; hence an indispensable condition.
Smuggling, passing goods into a country clandestinely, without paying duties.
Solidity, the estimate a mercantile house bears as to property.
Solvent, able to pay all debts.
Staple Goods, the principal produce of a country. Goods not liable to perish.
Stock, capital invested in trade. Goods on hand. The name of a person in business.
Surety, security against loss or damage. One bound for the payment of another's debts; bondsman; bail.
Tare, an allowance for the weight of boxes, barrels, &c., in which Mdse. is put up.
Tariff, a list or table of duties or customs on Mdse. imported or exported.
Teller, an officer of a bank, employed to receive deposits or pay money on checks.
Tide-waiters, officers who watch the lading and unlading of vessels, to secure duties, as a check on contraband
trade, &c.
Tonnage, the weight or measurement of goods carried in a vessel, or the capacity of a vessel.
Transfer, to carry from one account to another. To make over; to convey from one to another.
Trustee, a person to whom any thing, or business, is committed.
Underwriters, persons who insure property against loss.
Usury, formerly interest-in present usage, illegal interest.
Voucher, a book, paper, or document, which serves to vouch the truth of accounts.
Wharfage, money paid for the use of a wharf.
Wreckers, persons employed in saving property from shipwreck.
12




BY
13




INTRODUCTION
TO
SINGLE ENTRY BOOK-KEEPING.
BOOK-KEEPING is the science of accounts, and teaches how to preserve a correct
record of all business transactions.  There are two distinct methods of keeping
accounts, termed Book-Keeping by Single Entry and Book-Keeping by Double Entry.
In Single Entry Book-Keeping, each entry is a single entry, that is, consists of but
one debit, or one credit; while in Double Entry Book-Keeping, every entry contains
both a debit and a credit.
The principles of Single Entry are so easy of comprehension as scarcely to need
explanation. Accounts are usually kept only with the persons with whom you have
dealings, and although a Cash account, Merchandise account, and other property
accounts may be kept, yet just so far as you introduce any other accounts except those
with persons who owe you, or whom you owe, so far do you encroach upon the peculiar
province of Double Entry, as is more fully explained on page 60.
The principal books of entry are a Day-Book and Leger. Besides these there are
several smaller books which are convenient, and some of which are absolutely essential
to be kept. These are usually termed auxiliary books, and vary in number and form
according to the business. They will all be described and shown in the subsequent
pages of this book. Of these the CASH-BOOK is the most important, and should never
be dispensed with where there are any considerable dealings in cash. In it all receipts
and payments of cash are entered, and it is a constant check upon your cash transactions
to test their accuracy.
TIE DAY-BOOK.-All transactions are entered in this book which require a debit or
credit to any person with whom you have dealings. The form of entry is very simple,
thus: "John Brown Dr. To 6 lbs. Nails @ 7/, 421," or "Samuel Henry Cr. By
Cash on % $5.00;" in every case specifying the details which constitute the debit or
credit. This is the only book from which posts are made to the Leger.
THE LEGER.-Into this book all sums entered in the Day-Book are transferred, an
account being opened with each different person, into which every debit and credit made
to that person is collected. This process is called posting, and the advantages derived
from it are, that, by looking at any person's account in the Leger, you can see at a
glance your whole dealings with that person, and also the balance which is due him or
you, which you could not find without much trouble and great liability to error, if the
amounts of debit and credit were all left standing scattered through the Day-Book.
14




SET I, SINGLE ENTRY.
F en   A__.!'




EXPLANATORY REMARKS, SET I.
CASH-BOOK, SET I.
The Cash-Book [see page 19] is a simple memorandum-book for keeping the Cash
account correctly. There are various ways of keeping the Cash-Book, but the form
here shown is perhaps as simple as any, as easily kept, and as little liable to mistakes,
for persons whose cash transactions are not very numerous, and who are not scientific
accountants. It contains two columns for dollars and cents.*
Whenever money is received from any source whatever, it must be entered in this
book as "Rec'd," (describing for what,) and the amount must be extended into the left
hand dollar and cent column, which is called the debit column; and whenever money is
paid out for any purpose whatever, it must also be entered in this book as "Paid,"
(telling for what,) and the amount extended into the right hand dollar and cent column,
called the credit column. Thus, if the account is kept correctly, the difference between
these two columns will show at all times the balance of cash on hand, and will agree
with the actual amount of money in possession, counting that which is deposited in
bank, as well as what is in the store or shop; and if it does not so agree, there has been
some error, which must be searched for and corrected. The credit column can never
be the larger, since it is impossible to pay out more money than you receive.
The Cash-Book should be balanced at the end of each week-or daily, when much
business is done-by entering in the credit column the balance of cash on hand, (usually
done in red ink,) ruling and footing both columns, and underneath the closure entering
the balance on hand (in black ink) in the debit column.
The Cash account may be tested at any time, without balancing the Cash-Book, by
finding the difference between the debit and credit columns, on a scrap of paper, and
comparing that difference with the cash on hand. This should be done a' a, when the
Cash-Book is balanced only once a week.
DAY-BOOK, SET I.
Whenever you do a job of work for any person, or sell him any thing, or pay him
money, or he in any other manner becomes indebted to you, he must be charged (or
debited) with the same in this book, to show that he owes you. And whenever any
person sells you any thing, pays you money, or does work for you, or you in any other
manner become indebted to him, he must be credited with the same in this book, to show
that you owe him. [See form of entry, page 20.]
This is the only book from which you post, and therefore every entry which you wish
to bring into any account in the Leger must be entered here..Erasures are not allowable in the Day-Book, as they look suspicious, and frequently render invalid the evidence
of entries therein. [See remarks on detection and correction of errors, page 111.]
In entering purchases, it is allowable to say, "Am't as pr. Bill," or "Am't as pr.
Invoice," and omit the detail of items, since you have the Invoice filed away, or pasted
in a book, so that you can refer to it at any time; but in entering Sales, the items should
always be mentioned in your Day-Book, as this is your legal evidence of the transaction;
and in order to be taken as evidence, each article must be distinctly named.
LEGER, SET I.
This Leger contains the accounts of persons only, and is used for collecting in one
place all the items of debit and credit belonging to any one man, which are found scattered in separate entries over many pages in the Day-Book; and thus presenting the
account before us complete, for ascertaining the gross amount of debit and credit, and
the balance due either party; and also affording an easy reference to the various items,
by the date and page of the Day-Book.
* The pupil will observe that throughout the book, in speaking of the money columns, I designate the
space for dollars and the space for cents, united, as hut one column.
16




DEFINITIONS.
As some may be at a loss to know the true meaning of the words debtor and creditor,
debit and credit, I will here define them as used in Single Entry.
DEBTOR, the person who owes you.
CREDITOR, the person whom you owe.
DEBIT-as a verb-to make the proper entry of a person's indebtedness to you:
as an adjective-that side of a person's account which shows his indebtedness to you.
CREDIT-as a verb-to make the proper entry of your indebtedness to another person:-as an adjective-that side of a person's account which shows your indebtedness
to him.
For a more perfect definition of these words, and a fuller explanation of their true
philosophy, see the Introduction to Double Entry, pages 61 and 62. Also, for the
definition of any terms, words, or abbreviations which you do not understand, refer to
the Vocabulary, pages 9-12.
INSTRUCTIONS FOR WRITING UP CASH-BOOK AND DAY-BOOK, SET I.
The intention is, that Sets I and II shall be written on loose sheets of paper for practice, and
then Set III may be written in the blank books which accompany this work. This previous
practice on loose sheets will enable the pupil to fill his blank books neatly and correctly. Ruling
the sheets will be also very useful to the pupil, as he will be able to rule his Legers and other
books much more book-keeper-like after this practice. The rulings in books, except the ordinary
faint lines for writing on, look better to be in red ink.
Prepare some paper, ruled after the patterns given for the different books. Then in the CashBook enter the amount of cash at commencing business, on the 1st day of September, and the
amounts paid out for paints, &c., on the same day; and in the Day-Book enter the debit to B. T.
Stokes. Next, enter in the Cash-Book the payments out for gold leaf, step ladders, and muslin
on the 2d inst.; and in the Day-Book the debits to Mayland, Morris & Co., and to T. Templeton.
Follow this with the receipt of cash in the Cash-Book, on the 3d inst. -   and this, again, with
the entries in both Cash-Book and Day-Book, on the 4th inst.
Having completed the first week, balance your Cash-Book, and bring the balance down to the
beginning of the subsequent week. Continue the entries of this week in the Cash-Book and
Day-Book, in order of date, the same as the preceding, and so on, successively, balancing your
Cash-Book at the close of each week, until you come to the end of the month.
It makes no difference in which book the entries of any given day are first made, as in a real
business the entry would be put down at the time of the transaction, and would be sometimes
placed in the Cash-Book and sometimes in the Day-Book, according to its nature. Some transactions, however, require an entry in each book at the same time; as, for instance, on the 4th
inst., Geo. L. Searles is credited with his wages, and charged with cash on account in the DayBook, and then the cash is recorded also in the Cash-Book. A little observation and thought,
however, will enable you to discover which transactions require entering in both books, and which
only in one.
You will perceive some of the hands employed have accounts opened with them in the Leger,
and some have not. Those paid in full at the end of each week, have not.
INSTRUCTIONS FOR WRITING UP LEGER, SET I.
After having finished writing up the Cash-Book and Day-Book, as just described, the next step
is to post the entries from the Day-Book to the Leger. This is done as follows:-The first entry
in the Day-Book is a debit to Stokes, for whom you open an account on the Leger, thus:
"Dr. --    Bailey T. Stokes      Cr.;" [see page 22;] then on the debit side, underneath
this heading, place the date, description, Day-Book folio, and amount, as found in the Day-Book,
which completes the post of the 1st inst. Next post-mark the entry, i. e. place the folio of the
Leger to which it is taken, in the left-hand marginal column of the Day-Book.
Underneath the account of Stokes in the Leger, open, in the same manner, an account foe
Mayland, Morris & Co., leaving a sufficient space for all the entries that will probably be posted
C                          17




INSTRUCTIONS (continued).
to Stokes. On the debit side of this account post the entry of the 2d inst., post-marking it in
the Day-Book, to show that it is posted. Follow this with the account of Thomas Templeton,
and so on, successively, opening an account in the Leger for each different name. But when
entries to any person occur subsequently to having opened an account with that person in the
Leger, post all such subsequent entries into the account already opened.  Credits must be posted
to the credit side of the account; and where there is both a debit and a credit in the same entry,
as in the entry to Searles on the 4th inst., it requires two posts, one on each side of the account.
Any accounts which are paid in full, as that of Stokes on the 7th inst., may be closed at the time,
and entries occurring subsequently must then be posted underneath the closure.
When the whole month has been posted, you may re-examine each item, checking the entries
with a pencil in the Day-Book and Leger, to be sure that no mistakes have been made. This is
the only test of correctness that exists in Single Entry Book-Keeping, and is quite essential if you
would avoid errors, which are very apt to occur in posting. After satisfying yourself of the accuracy of your work, you may proceed to close up your Leger, as you would at the expiration of a
year in actual business. Those accounts which have been paid in full, if not closed at the settlement, may now be closed by ruling them according to the sample given, and adding up the
accounts, if they need adding up. Those accounts which have debit or credit balances still
unsettled, may also be closed by making a red ink entry, (indicated by Italics,) on the smaller
side of the account, saying, " To Bal. to new  c," or " By Bal. to new %," ruling and footing
up the account, and placing the balance underneath the closure, on the opposite side of the
account.
In the printed Leger given, you will observe that the perpendicular lines are interrupted by
spaces left for inserting each name, which cannot well be avoided in printing, although, in blank
books ruled for the counting-house, the lines generally extend connectedly the whole length of the
page. In most blank books ruled for Legers, the only horizontal lines across the page (except the
faint lines for writing upon) are the double lines at the top of the page. The other single lines
above and double lines underneath each account are ruled by hand, and I think it is quite as well
to dispense with them altogether, and open accounts after the following sample.
Dr.                       Mayland, Morris & Co.                               Cr.
This form is neat, easily done, and, I think, looks better than so much ruling. All rulings on
the Leger should be in red ink.
The number of accounts to be opened on a page in actual business must be determined by the
judgment of the book-keeper. An account that is likely to fill up soon, should have a whole
page left for it: smaller accounts may be placed two on a page, and in some cases, though seldom,
three or four.
In writing up these sets for practice, you can place as many accounts as you have room for on
each page; but be careful not to crowd one account on another, as this looks excessively
awkward.
The accounts may be arranged in the Leger in any order that suits the taste of the accountant,
as will be seen more fully hereafter.
The Alphabet or Index, a small book that always accompanies the Leger, will be explained in
Set II. The pupil need not make it out in this set.
Sets of books, in actual business, are usually closed yearly, and the continuance of Sets I and
IJ for one month each is to be understood as for one year.
NOTE.-In the closure of all the Sets in this volume, I have supposed that no bad debts exist
on the Leger. But if any debts are known to be bad, or are even thought doubtful, an ample
allowance should be made for them, in estimating your profits.
18




CASH-BOOK, SET I.
Cash.                        Dr.    Cr.
1852.                               I. 
Sept.  1 Am't of Cash on hand at commencing business         500100
Paid for Paints, Oils, Glass, Brushes, &c., pr. Adam's Bill  105 32
"   2     "   " 2 Books Gold Leaf                                    75
c',2, " Making Step Ladders                                         500
" C  "     "   " Muslin                                               37
c3 Rec'd of S. Lambert for Glazing 27 Lights 10 by 12 @ 25 f 6 75
c"   4    Paid Geo. L. Searles on % of Wages pr. D.-B.               3 00
cc iWm. Boyd, Jr., 3 days' Work @ $1.50                      4 50
C"      "  "   Hiram Smith   2  "     "  @.75                    150
*Balance in Bank, $345.00, in Safe, $41.31               386 31
506 75 506 75
Sent. 6 Balance Cash on hand                                 386 31'    " Rec'd of John Payson for painting Sign as pr. agreement  30 00
c7       <"  " Bailey T. Stokes in full of %                6 75
8       Paid Jonathan Long & Co. on %                            25 00
11                                                                 10 00
<"c         " George L. Searles on T% of Wages pr. D.-B.             900
"'   "      " Hiram L. Smith 52 days' Work @ 75                      4113
"k c "  Balance in Bank, $364.93, in Safe, $10.00               3 74193
423 06 42306
Sept. 13 Balance Cash on hand                                374 93
"   17 Rec'd for 37 lbs. Blue Paint @ 25 d                   9,25
"   18    Paid George L. Searles in full pr. D.-B.                   750
c   Rec'd for 2 Lights 10 by 20 Stained Glass @ $4.50    9 00
"s   "    Paid Hiram Smith 6 days' Work @ $1.00                      6 00
"    "c   Balance in Bank, $374.43, in Safe, $5.25                 3 7 968
393 18 39318
Sept. 20 Balance Cash on hand                                379 68
cc  cc Rec'd of Timothy Stone for 120 lbs. White Paint @ 11 f  13 20
"   c    Paid for Repairs of Shop                                   212
c   cc     "  " making Transparency Frame                           4 38
co24 Rec'd of J. F. Goodwin, for Stained Glass, as pr. agreement  25 00,  C    44 (C Harry Biddle for painting Church, "  "     210 00
25       Paid Foster B. Jones 6 days' Work @ $1.50                 9 00
-   "      " Walter Hughes 52   "        @ $1.50                    825
"    "      " Hiram Smith    5        "   @ $1.00                    500
"    "      " Peter Lundy    42       cc(  @ $.753 38
i  cc" Bc  Balance in Bank, $541.75, in Safe, $54.00             595 75
627 88 627 88
Sept. 27 Balance Cash on hand                                595 75
", "    cPaid Peter Lee, Carpenter, for Sundry Jobs, as pr. Bill    22 50
28        " for 10 galls. Linseed Oil @ $1.622                    1625
"   29 Rec'd for Tin Sign10100
"cc  "    Paid for Tin and Japanning                                4125
"   30      " Hiram Smith 6 days' Work @ $1.00                       600
((          " Rent of Shop one month                                16g67
"  cc   Balance in Bank, $521.43, in Safe, $18.65                4008
1852. _                                                     605175 605 75
Oct.  1) Balance from Sept. 30th /52                       150 08
19     e Italics denote red inAk.




DAY-BOOK, SET I.
Philadelphia, September 1st, 1852.
L.F.
*1  Bailey T. Stokes                            Dr.
To Lettering Tin Sign                         1.75
" 1 Light Stained Glass                      5.00      6 75
2d 
1  Mayland, Morris & Co.                       Dr.
To Bronzing Candelabra                                 2 00
3d
1  Thomas Templeton                            Dr.
To Bronzing Valve                              50
" 6 lbs. Blue Paint @ 25 /                   1.50
" 18 bs. White"  @ 122 /                     2.25      4 25
4th
1  Camden & Amboy Rail-Road Co.                Dr.
To Lettering Sign 60 feet, ~ 20 f pr. foot   12.00
"Gilding Border of Sign                      2.00
Putting up Sign                             2.50     16 50
1  George L. Searles                            Cr.
By 4 days' Labor ~ $1.50                               6 00
Dr.
1       To Cash on %                                            3 00
6th
1  Camden & Amboy Rail-Road Co.                Dr.
To Lettering Sign 15 feet, ~ 20 i             3.00
"Making Board and putting up                 4.25      7 25
2  Henry Talbott                                Cr.
By Making Sign for Camden & Amboy R.-R. Co.             3 00
7th
1  Bailey T. Stokes                             Cr.
By Cash in full of %                                    675
8th -6 —
2  Jonathan Long & Co.                          Cr.
By Paints, Oils &c., as pr. Bill                      5264
Dr.
2        To Cash in Part                                       25 00
2  Wi. G. Bradbury                              Cr.
By Bill of Glass and Putty                   17.50
"    "" Paints and Oils                    122.50    140 00
* Omit the figures in the left-hand marginal column, until you post. These figures are the
potmk                      20                            2




DAY-BOOK, SET I.                                    2
Philadelphia, September 9th, 1852.
L. F.
1  Thomas Templeton                              Dr.
To Glazing 1 Light 11 by 18                               37
11th
2  Jonathan Long & Co.                           Dr.
To Cash on %                                  10.00
" Glazing 10 Lights 10 by 18 @ 259            2.50     12 50
1  George L. Searles                             Cr.
By 51 days' Labor @ $1.50                                8 25
Dr.
1        To Cash on %                                             9 00
13th
2  Philadelphia Exchange                         Dr.
To Glazing 4 Lights 10 by 16 @ 25y             1.00
"Painting 3 Rooms, 2 Coats, as pr. Agreement  15.00    16 00
15th
1  Camden & Amboy Rail-Road Co.                  Cr.
By my Order on them, favor of J. Long & Co.             1514
2  Jonathan Long & Co.                           Dr.
To my Order, their favor, on Camden & Amboy R.-R. Co.   1514
18th
1  George L. Searles                             Cr.
By 31 days Labor @ $1.50                                 5 25
Dr.
1        To Cash in full (discharged)                             7 50
22d
2  Sargeant & Willis                             Dr.
To Stained Glass for Transparency, Frame, and putting
up as agreed                                          40 00
25th
1  Bailey T. Stokes                              Dr.
To Glazing New Sash at Manufactory, as pr. Agreement,
to wit,
56 Lights 11 by 15 @ 9P                     5.04
139 "    10 by 12 @ 7f                      9.73
1920"     8 by 10 @ 3f                     57.60
"20    "   Old Glazing 11 by 17 @ 359         7.00
Painting 110 Window Frames   @ 45/          49.50
Reception Room                      5.25    13412
27th
1  Thomas Templeton                              Cr.
By 1 Blk. Cloth Dress Coat                    15.00
" 1 Pr. Blk. Cass. Pants                      6.00     21 00
30th
2  Sargeant & Willis                             Dr.
To Painting office as pr. Agreement                     30i00
21




~1 ~LEGER, SET I.
Dr.                   Bailey T. Stokes.                Cr.
Date.    Description.  F io.  Amount.  Date.  Description.  Amount
-escription.  Folio.                  Folio.
1852.                          1852.
Sept.  To Sundries    1 I6 75 Sept. 7 By Cash        1    675
1852.                 ___   _      -
Sept. 25 To Glazing, &c.  2  13 12 
Dr.                Mayland, Morris 4 Co.               Cr.
1852.
Sept. 2 To bronzing candelabra         1    200
Dr.                  Thomas Templeton.                 Cr.
1852.                          1852.
Sept. 3 To Sundries   1     4 25 Sept. 27 By Sundries  2  21 00
9  " Glazing      2     37
8 0 " Bal. toNew%        1 638
2100                           21 00
____s~~~~~ -3X~lo~e ~ I1L852.
Oct. 1 By Bal. fr. Old %   1638
Dr.            Camden f.ftmboy Rail Road Co.          Cr.
1852.                          1852.
Sept. 4 To Sundries   1    16 50 Sept. 15 By Order on them  2  15114
": 6   "   "         1    725     80 "o Bal. to New %    861
2375                           2375
1852.  -
Oct. 1 To Bal. fr. Old %   861
Dr.                  George L. Searles.                Cr.
1852.                          1852.
Sept. 4 To Cash        1    3 00 Sept. 4 By Labor    1     6 00
" 11 "    "          2    90   " 11 "               2    8 25
" 18 "   "          2     75   "  8     " 8        2     525
19250                          1950
22




LEGER, SET I.                                 2
Dr.                       Henry Talbot.                        Cr.
D B. I.
Date.     Description.  F.. Amount.  Date.    Description.  D.-B. Amount.
F   olio.                           Folio.
1852.
Sept. 6 By Making Sign    1     300
Dr.                   Jonathan Long 4' Co.                     Cr.
1852.                               1852.
Sept. 8 To Cash          1    25 00 Sept. 8 By Paints, Oils &c. 1  52 64
11 " Sundries          2    1250 
"  15 "< My Order       2    1514                                  _
5264                                5264
Dr.                     Wm. G. Bradbury.                       Cr.
1852.
Sept. 8 By Bill of Glass &c. 1  140 00
Dr.                   Philadelphia Exchange.                   Cr.
1852.
Sept. 13 To Sundries     2    16 00
Dr.                     Sargeant 4 Willis.                     Cr.
1852.                               1852. 
Sept. 22 To Stain'd Glass &c. 2  40 00 lSept. 30By Bal. to New %7 0 0 
30 " Painting Office   2    30 00
70.00                                0 700
1852.   =1                      11    -                         1
Oct. 1 To Bal. fr. Old %      70 00 
23




DEDUCTIONS FROM SET I.
As this business has now been brought to a close, it remains to be seen whether it
has been profitable or unprofitable.
Take off a list of the debit and credit balances standing on the Leger, and you will
find the following results.
Balances due me.                       Balances I owe.
Bailey T. Stokes                134 12 Thomas Templeton                 16 38
Mayland, Morris & Co.             2 00 Henry Talbot                      3 00
Camden & Amboy R. R. Co.          8 61 Wm. G. Bradbury                 14000
Philadelphia Exchange            16 00                                 159 38
Sargeant & Willis                70 00
$230173
Now suppose that the Cash on hand constituted the only capital at commencing
business, except a stock of tools, amounting (say) to $75, as shown by the InventoryBook, which are worth as much now as when you commenced, the new ones purchased
being an offset against damage by use. Suppose, also, that the stock of paints, oils,
glass, &c., remaining on hand, amounts to $65.50, as shown by the Inventory-Book.
You will then have the following details.
Cash on hand, as pr. Cash-Book, at starting   -     500.00
Stock of tools, as pr. Inventory-Book*  -  -   -     75.00
Capital at starting     $575.00
Cash on hand, as pr. Cash-Book, at closing  -   -    -    540.08
Stock of tools, as pr. Inventory-Book   -    -    -    -   75.00
Stock of paints, &c.               "  -    -    -          65.50
Personal accounts due me as pr. Leger"  -    -    -    - 230.73
Resources or assets        $911.31
Deduct liabilities, viz., personal accounts I owe as pr. Leger,  159.38
TNet capital or present worth      $751.93
It appears from the above that my net capital at closing business is  $751.93
While my capital at commencing business was only                     575.00
Showing that my gains in business have been         $176.93
From these statements, you will perceive that:The amount invested by you at starting business is termed capital.t
Your available means at closing are termed resources or assets.
Your indebtedness at closing is termed liabilities.
The difference between your assets and liabilities is termed net capital or present
worth.
Also,
By taking your capital at starting from your present worth, you may ascertain your
gains in business.
In a losing business,
By taking your present worth from your capital at starting, you may ascertain your
losses in business.
The Inventory-Book will be explained hereafter.
t The various items which make up this capital are called Effects; and if you owed debts also at starting, the difference between the
amount of your effects and debts would be called net capital, or, if the debts were the greater, net insolvency.
24




QUESTIONS FOR REVIEW.
These Questions review the whole of Single Entry thus far, and the pupil should be required
to commit the answers thoroughly to memory and answer them, before proceeding farther. This
questioning is one of the very best exercises for fixing in the mind what is intended to be learned
by the previous practice; and I think the teacher will find that the series of questions prepared
through the work are sufficiently extended to embrace nearly or quite the whole subject expounded,
and not, as is too often the case, so meagre as to impose on him half the work of framing
questions.
What is Book-keeping?
What two distinct methods are there of keeping accounts?
In Single Entry Book-keeping, of what does each entry consist?
In Double Entry, what does every entry contain?
What accounts are usually kept in Single Entry?
So far as you introduce Cash, Mdse., and other property accounts, upon what do you encroach?
What are the principal books of entry?
What are the smaller books kept besides these, in business, termed?
Which is the most important of these? What do you enter in the Cash-Book?
What transactions are entered in the Day-Book? Describe the form of entry.
What sums are transferred to the Leger?
What is the process of transferring from the Day-Book to the Leger called?
What are the advantages derived from it?
What is the Cash-Boo?
How many columns for dollars and cents has Cash-Book, Set I?
How must money received be entered? How must money paid out be entered?
What must the difference between the two columns show?
If this difference does not agree with the actual amount of money in possession, what is shown?
Why cannot the credit column be larger than the debit?
How often should the Cash-Book be balanced? How is it done?
How can you test the Cash account without balancing the Cash-Book?
When do you debit a person in the Day-Book? When do you credit a person?
Why must every entry which you wish to bring into any account in the Leger be entered in the
Day-Book?
Why are erasures not allowable in the Day-Book?
Is it allowable, in entering purchases, to say "Am't as pr. Bill," and to omit the items?  Why
is it?
Is it proper thus to do in entering sales? Why not?
For what is the Leger used?
Define debtor. Define creditor.
Define debit-as a verb:-as an adjective.
Define credit-as a verb:-as an adjective.
What colored ink looks best for rulings in the uoks?
In what order should the entries in the Cash-Book and Day-Book be entered?
Mention a transaction which requires an entry in both Day-Book and Cash-Book.
What is the next step, after writing up the Cash-Book and Day-Book?
Describe the process of posting. How do you post-mark the entry?
What may be done with accounts paid in full, as that of Stokes on the 7th inst.?
What do you do, after completing the posting, to assure yourself that no mistakes have been
made?
What do you do with the Leger, after satisfying yourself of its accuracy?
How do you close accounts paid in full?
How do you close accounts which have debit or credit balances, still unsettled?
How does the ruling of the printed Legers given differ from that of blank-books ruled for the
counting-house?
How many accounts should be opened on one page of the Leger?
In what order should accounts be arranged in the Leger?
What is the Alphabet or Index? How often are books usually closed?
What does the continuance of this Set for one month represent?
Mention the accounts on your Leger* which have balances due you. What is the gross amount
of them?
* The pupil may have his own Leger and other books before him, in answering this and the following
questions. Also the statements which he has drawn up to show his net capital, net gains, &c.
D                          25




QUESTIONS       FOR    REVIEW     (continuer').
Mention the accounts on your Leger which have balances you owe. What is tne gra-,s amount
of them?
What was the amount of cash on hand at starting? Where found?
What was the value of tools at starting?  Where found?
What was the total capital at starting? How ascertained?
What is the amount of cash on hand at closing?  Where found?
What is the value of tools at closing? Where found?
What is the value of paints, oils, &c., at closing?  Where found?
What amount of personal accounts is due you? Where found?
What are the total assets at closing? How ascertained?
What amount of personal accounts do you owe? Where found?
What is the net capital or present worth? How ascertained?
What have been your gains in business? How ascertained?
What is the amount invested by you at starting termed?
What are the various items which make up this capital called?
What would the difference between your effects and debts at starting be called?
What are your available means at closing termed?
What is your indebtedness at closing termed?
What is the difference between your assets and liabilities termed?
How do you ascertain your gains in business. How your losses?
What is to be done, if bad debts exist at closing? [See Note on page 18.
26




SET II, SINGLE ENTRY.
27




EXPLANATORY REMARKS, SET II.
When you have carefully pondered over the contents of Set I, so as to impress upotr
your mind all the principles that are therein contained, you may then proceed with the
second Set in a similar manner, first writing up the Cash-Book and Day-Book connectedly in order of date, and then posting from the Day-Book to the Leger. You will
find frequent reference, in this Set, to the Inventory-Book, Bill-Book, and Time-Book.
none of which are here given, but you can find examples of them all in the work, by
referring to the Table of Contents, pages 3 and 4.
CASH-BOOK, SET II.
In this Cash-Book, one page or folio of the Cash account occupies two pages of the
book, Cash debits being placed on the left hand page, and Cash credits on the right
hand page.
This form of Cash-Book is more used than that given in Set I, and is better, except
in quite a limited business. The balances are brought down weekly, as in Set I; but
when the entries are numerous it would be better to balance the Cash account daily.
Several new entries occur in this Cash-Book-as the receipt of Cash for a Note held
by the firm-taking up a note of the firm outstanding-payment of a Gas Bill, &c.;
but they will be readily comprehended ly a little thought.  The wages of hands
employed, you will perceive, is paid weekly, in cash, the time which they work being
kept in a Time-Book. Sometimes hands are employed by the piece or job, and then
a memorandum book, similar to the Time-Book, is required, to keep account of the
work done.
You will notice that money paid or received on account requires an entry in this
Book, and also in the Day-Book, at the same time.
DAY-BOOK, SET II.
This book is the same in form and general treatment as the Day-Book to Set I.
The statement of the forming of a partnership, and the terms thereof, at the commencement of the Day-book, is not usually inserted in actual business, but is contained
in the articles of agreement between the parties, which should always be drawn up and
signed by each partner.
LEGER, SET II.
THIS Leger is precisely similar to Leger, Set I.
When the space left for an account in the Leger is filled, it should be transferred to
a new folio, as shown in the case of James Margrave. But if entries have been made
only upon one side of the account, the method of transferring differs somewhat from
this, as may be seen in the case of Philip Mendenhall. An account should always be
transferred before it crowds upon the one below it.
THE ALPHABET OR INDEX.
This is a small book which is used in connection with the Leger, to afford a ready
reference to any account therein contained. It usually has a leaf allowed for every
two letters of the English alphabet, and sometimes, in large Legers, one or more leaves
for each letter. Each leaf is marked, upon its outer edge, with the letter or letters for
which it is intended to be used, and then the different Leger titles are entered thereon,
as indicated by their initials. The initial to the surname of a person is generally used,
this part of the name being written first in the Alphabet.
The account should be entered in the Alphabet at the time it is placed in the Leger.
The Alphabets shown in this Set, and in subsequent Sets of this book, have been
condensed on one page, to save room.
28




INSTRUCTIONS FOR        WRITING     UP.
After having prepared paper for the different books as directed for Set I, page 17,
commence to transcribe the Cash-Book and Day-Book, connectedly, in order of date,
balancing the Cash-Book weekly, and thus progress until you have finished them.
Next, post from the Day-Book to the Leger, as before described, pages 17 and 18,
being careful, however, to remember, whenever you open a new account on the Leger,
to insert its title also in the Alphabet, with the page of the Leger on which it may be
found. This gives ease in future reference, and prevents the opening of duplicate
accounts to the same parties.
Open the two partners' accounts first upon the Leger, and after posting the entries
of 1st inst., you may close B. L. Archer's account, and bring the balance, which is his
net capital, down to new account, so that, in making statements from the Leger, each
partner's investment may be readily seen.
When the posting is completed, and you have re-examined, to be certain of accuracy,
rule and close up such accounts as balance themselves, or have the debit and credit
sides equal. Then draw up statements on a separate sheet of paper, after the manner
shown on page 39, to ascertain the present worth and the net gains of the firm, and of
each partner. Pay particular attention to this, and try to make the method of arriving
at these results perfectly familiar, as it is a very important branch of the accountant's
duties, and frequently not well understood.
After completing these statements, enter each partner's share of net gain to the credit
of his account in the Leger. Make this an original entry in the Leger, which is the
simplest and best way; and not enter it in the Day-Book, and post to the Leger,
although some good accountants pursue this latter plan. The difference between the
two sides of each partner's account will now show his net capital, and you may close
his account and bring down this net capital to new account, as it is called,-that is,
write it down in the same account underneath the closure. You may likewise close all
the other accounts remaining open on the Leger.
29




~1 CASH-BOOK, SET II.
Dr.                                Cash.
1852. 
Nov.   1  To B. L. Archer, invested by him                                 50 00
c"     " C. T. Marion,    ""'"                                  648 08
("   3   " James Margrave, on                                             60 00
75808
Nov.   8  To Balance on hand from 6th inst.                               674198
" " " LI Bureau, Mahogany Veneered                                      22 00
"    9   " Bills Receivable, B. Pinkley's Note, Archer's favor          125 00
"  11   " James Mortley, Arm Chair for Office                             5 00
826!98
Nov. 15 To Balance on hand from 13th inst.                                648 60
"    c   " 1 Pint of Varnish                                                50
"   17   " Staining Cupboard                                                75
18   " 1 Reclining Chair for Invalids                                25 00
"   19   " 2 Ottomans                                                      7 00
"   20   " 1 French Bedstead, Birds'-Eye Maple                             4 50
68635
Nov. 22 To Balance on hand from 20th inst.                                598 23:c   "   " i' Steamboat Ohio Belle, part Bill of date                  150 00
_    /       /                                           11 748 23
Nov. 29 To Balance on hand from27thinst.                                  474 83, cc   " 2 Mahogany Rocking Chairs, Plush covered, ~ $12.50            25 00
c, " 2 Birds'-Eye Maple French Bedsteads,      @    4.50           900
c    "' " 1 Doz. Cane-Seat Walnut Chairs                       24.00
c  "   " 1 Child's High Chair                                 1.25
1      "   Rocking "                                   1.25     26'50
c   30   " James Margrave, in full                                       62 75,'(,    " Repairing Tables                                                2 38
c c C "             Chairs                                                62
60208
1852.
Dec.   1  To Balance from Nov. 30th /52                                   471 98
30




CASH-BOOK, SET II. 
Cash.                               Cr.
1852.                                                                   75 1
Nov. 2    By Richard Baker, Bill of Lumber                              7b 60
6       " Wages paid hands, pr. Time-Book                              7 50, *      Balance in Bank, $650, in Safe, $24.98                     674 98
758 08
Nov.   8  By S. Brinkley, Carpenter, Repairs of Shop51 50
"    "   " Jonas Smith, Painting Shop 
"    c"  " John Johnson & Son, in full of %                            67 00
c     "  Glazing 1 Light of Glass                                     30
13  " Wages paid hands, pr. Time-Book 
cc, " Balance in Bank, $620, in Safe, $28.60                    648 60
82698
Nov. 16 By John Johnson & Son, part Bill of Paints, &c.                  5000
20    " Wages paid hands, pr. Time-Book                               12,^  "     Balance in Bank, $525.50, in Safe, $72.73                 598 23
686 35
Nov. 22 By Bills Payable, Archer's Note, P. Wall's favor      200.00
Less Discount from date, to Jan. 6th /53         1.50   19850
23   " B. L. Archer, on                                             10%00
24    " Bill of Varnish                                             13 50
"       Gas Bill                                                    1  5, c; " Drayage of Furniture                                             150
c  27  " Wages paid hands, as pr. Time-Book                           3665, Balance in Bank, $470, in Safe, $4.83                       474 83
74823
Nov. 29 By Bill of Veneering                                            2560
C " " Charles T. Marion, on                                           25100
c    " "  Repairs of Lock                                             25
"   30   " Rent of Shop, one month                                     4000
c   c  " Wages paid hands, as pr. Time-Book                          39 25,,,     "  Balance in Bank, $460.50, in Safe, $11.48                 4 71 9 8
C31 ^ ~ ~ ~               ~60208
31




~1 ~             DAY-BOOK, SET II.
Pittsburg, November 1st, 1852.
IL.F.
Barney L. Archer, Cabinet-Maker, associates with himself Charles
T. Marion;-Archer transferring to the firm such portion
of his resources and liabilities as is mutually agreed upon,
and Marion investing their equivalent in Cash.  The
parties are to share alike in gains and losses.
1  Barney L. Archer,                               Cr.
By Cash invested                                50.00
"Sundry Notes he holds against others, pr. B.-B. 350.00
" Bal. of James Margrave's %                   55.75
"  "  of Peyton Gardner's "37.40' Materials & Unfinished Work, as pr. Inventory 356.50
" Stock of Furniture,         " "     "      210.43
"   "     Tools "T              "     "      151.20    1,211 28
Dr.
1        To Sundry Notes he owes, pr. B.-B.             421.00
" Bal. due John Johnson & Son, on %            67.00
"  "   " Peters, Fithian & Co. "  "            75.20     53 20
1   Charles T. Marion                             Cr.
By Cash invested                                          648 08
1st
1  James Margrave                                  Dr.
To Bal. of his % due B. L. Archer                          55 75
1  Peyton Gardner                                  Dr.
To Bal. of his % due B. L. Archer                          37 40._____ c. ___
1  John Johnson & Son                              Cr.
By Bal. of B. L. Archer's % assumed by us                  67 00
2  Peters, Fithian & Co.                           Cr.
By Bal. of B. L. Archer's % assumed by us                  75 20
3d
1  James Margrave                                  Dr.
To 1 Hair Cloth, Mahogany Sofa                             20 00
Cr.
1        By Cash on %                                               60 OQ
4th
2  Mrs. Matilda Warterby                           Dr.
To 9 Mahogany Chairs, Cane-Seats,     @ $1.25   11.25
" 6    "        "   Hair-Cloth Seats, "  3.00  18.00
2 Cherry Dining Tables               "  6.00  12.00
" 1 Maple French Bedstead                       4.25
" 1   "   Low-Post Bedstead                     2.75      48 25
32




DAY-BOOK, SET II.                                 2
Pittsburg, November 5th, 1852.
L.F.
2  Jeremiah McCabe,             pr. wife,        Dr.
To 1 Doz. Windsor Chairs                      12.00
" ~  "     "       "     g $15.00             7.50
"'     "cc       "     "  10.00              5.00
"   Spring-Seat Black Walnut Sofa            21.00      4 50
8th
1  John Johnson & Son                            Dr.
To Cash in full                                          67 00
9th
2  Peters, Fithian & Co.                          Cr.
By Bill of Lumber                                       135 00
Dr.
2        To our Note @ 30 days, in full of their %              210 20
1  James Margrave,          pr. daughter         Dr.
To 1 Black Walnut Footstool                               1 50
2  Lewis Laflin, Jr.                             Dr.
To 3 Patent Pivot Chairs for Office, ~ $5.00             15 00
11-th —
1   James Margrave,              pr. wife         Dr.
To 1 Black Walnut Extension Dining-Table                 40 00
13th
2  Philip Mendenhall                             Dr.
To 2 Children's High Dining-Chairs, Mahogany, @ 2.00     4 00
3  Miss Betsy Crim                               Dr.
To 3 Doz. Windsor Chairs, @ $11.00            33.00
" 1 Rocking Chair, Second-Hand                9.00      42 00
- 15th
1  James Margrave                                Dr.
To % of J. McCabe, assumed by him                       45 50
2  Jeremiah McCabe                               Cr.
By transfer of % to J. Margrave                         45 50
16th
1  John Johnson & Son                            Cr.
By Bill of Paints, Varnish, Brushes, &c.               175 26
Dr.
1        To Cash in part                                         50 00..      —. 18th -.........
2  Philip Mendenhall                             Dr.
To 1 Black Walnut Book-Case                             15O00
E                      33




3                      DDAY-BOOK, SET II.
Pittsburg, November 19th, 1852.
L. F. 
3  James Margrave,               pr. son          Dr. 
To 1 Hat-Stand, Mahogany Veneered                        10 00
20th
2  Philip Mendenhall                              Dr.
To Varnishing 1 Table                                       50
22d                                   I
3  Steamboat Ohio Belle                           Dr.
To 3 Mahogany Sofas,           @ $15.00       45.00
"  2     "    Tete-a-Tetes,       16.00      32.00
"  1    "     Rocking Chair,                 12.00
"  4    "     Arm Chairs,          8.00      32.00
"  2 Doz."     Chairs,         "   30.00      60.00
"14 Cherry Wash-Stands,        "    2.00      28.00
" 14 Looking-Glasses,          "    2.00      28.00    237 00
Cr.
3        By Cash in part payment                                 150 00
23d
1  B. L. Archer                                   Dr.
To Cash on 7                                             10 00
3  Oscar P. Lewis & Co.                           Cr.
By Bill of Lumber                                        96 40
26th
3  James Margrave,              per wife          Dr.
To 1 Mahogany Bureau, with Glass                         25 00
29th
1  Charles T. Marion                              Dr.
To Cash on                                               25 00
3  Miss Betsy Crim                                Dr.
To 1 Mahogany Bureau                                     1900
30th
3  Philip Mendenhall                              Dr.
To 1 Black Walnut Centre Table                           15 00
3  Miss Betsy Crim                                Cr.
By 1 Mahogany Bureau, returned because it was too
large for the room                                 19 00
3  James Margrave                                 Cr.
By his Note ( 60 days                          75.00
"Cash to Bal. %                             62.75     187175
1                      ~~~34




ALPHABET OR INDEX,
LEGER, SET II.
A.                        N.
Archer, Barney L. -  -  -  - 1
0.
B.
C.                         P.
Crim, Miss Betsy  -  -  3  Peters, Fithian & Co. - -  2
D.
Q.
E.
R.
F.
G.
Gardner, Peyton -  -    1 Steamboat Ohio Belle -   3
H.
T.
I. J.
Johnson, John, & Son  -  - 1           U.
K.                         V.
L.
Laflin, Lewis, Jr.  -  -  -  -  2     W.
Lewis, Oscar P., & Co.  -  3 Waterby, Mrs. Matilda -  -  - 2
M.
Marion, Charles T.  -   -  -  1        X.
Margrave, James  -   -  - 3-1
McCabe, Jeremiah -  -  -  - 2
Mendenhall, Philip  -  -  -  3-2      Y, Z.




1                       LEGER, SET II.
Dr.                     Barney L. Archer.                      Cr.
1852.                               1852. 
Nov. 1 To Sundries       1    563 20 Nov. 1 By Sundries     1   1,21128
"K "N 2et. Cap. at starting  648 0 8
1,211128                             1,211 28
185                                 1852. -                         -. 
Nov. 23 To Cash on   c   3     1100 Nov. 1 By Net Capital
3 0     Net Cap. to New %  7 7 8 3           brought down     648,08
"   30 "I Net Gains*        140130
__ ^^^~ ~78838                                   78838
- 1852.
Dec. 1 ByNet Cap.fr.old       778 38
Dr.                    Charles T. Marion.                      Cr.
1852.                               1852.
Nov. 29 To Cash on       3     25 00,Nov. 1 By Cash invested  1  648 08'L 30   "Net Cap. to N-ew %  76338  "  30  "   Net Gains*       14030
788138                              78838
1852.
Dec. 1 ByNet Cap.fr.old%     76338
Dr.                      James Margrave.                       Cr.
1852.                               1852.
Nov. 1 To B. L. Archer   1     55 75 Nov. 3 By Cash          1    60 00' 3   "Sofa           1     2000' 9   " Footstool      2     1 50
11   " Dining Table  2     40 00
"  15 " J. McCabe       2    45 50
Ai't to folio    3    162 75            nAm't tofolio 3   60 00
Dr.                      Peyton Gardner.                       Cr.
1852.
NovB. To B. L. Archer    1     3740 
Dr.                    Jon JoJohnson & Son.                    Cr.
1852.                               1852.
Nov. 8 To Cash           2     67 00 Nov. 1 By B. L. Archer  1    67 00
1852.
Nov. 16 To Cash          2     50 00 Nov. 16 By Bill of date  2  175126
~0 " Bal. to New %       122 5 2 66  
1852.
Dec. 1 By Bal. fr. Old7      125 2
* See Statements, page 39.
36




LEGER, SET II.                                 2
Dr.                    Peters, Fithian fG Co.                   Cr.
1852.                               1852.
Nov. 9 To Bills Payable  2    210 20 Nov. 1 By B. L. Archer   1    75 20
_ "  9  " Bill of date  2   135|00
21020                               20
Dr.                   Mrs. Matilda Waterby.                     Cr.
1852. 
ov. 4 To Sundries        1     48 25
Dr.                      Jeremiah McCabe.                       Cr.
1852.'                              1852. 
Nov. 5 To Sundries       2     45 50 Nov. 15 By J. Margrave   2    45 50
Dr.                      Lewis Laflin, Jr.                      Cr.
1852..
Nov. 9 To Pivot Chairs   2     15 00
Dr.                     Philip Mendenhall.                      Cr.
1852.                               1852.
Nov. 13 To Children's chairs 2  4 00 Nov. 20 By Bal to folio  8     9 0
"  18 " Book Case       2    15 00 
"  20 " Varnishing      3       50 
I_                     1950                                19150
------------, —---------




3                    LEGER, SET II.
Dr.                    Miss Betsy Crim.                    Cr.
1852.                            1852.
Nov. 13 To Sundries    2     42 00 Nov. 30 By Bureau     3    1900,"  29 "'Bureau      3    1900     31 " Bal. to New %       42 00
1852  -          _6100     __                       6100
Dec. 1 To Bal. fr. Old       42 00
Dr.                    James Margrave.                     Cr.
1852.                            1852.
Nov. 15 To Am't fr. folio  1  162 75 iNov. 15 By Am't fr. folio  1  60 0Q
19 " Hat Stand      3    10 00 "  30 " Sundries      3   18377
"  26 " Bureau        3    2500
197 75             _197 75
Dr.                  Steamboat Ohio Belle.                 Cr.
1852.                             1852.
Nov. 22 To Sundries    3    237 00 Nov.22 By Cash        3   150 00
30 " Bal. to New %        8700
23700                            23700
1852.
Dec. 1 To Bal. fr. Old %     87 00
Dr.                   Oscar P. Lewis Sf Co.                Cr.
===_____ __________ _                                  _ T1852.
Nov. 23 ]By Bill of date  3  96 40
Dr.                   Philip Mendenhall.                   Cr.
1852.                            1852.
Nov. 20 To Bal. from folio 2  19 50 Nov. 30 By Bal. to New %  38450
"  30    Centre Table  3   1500
Dec.                _ 1 To  l3450.                        34 50
1852. ---
Dec. 1  To Bal. fr Old %     3450
38




DEDUCTIONS FROM SET II.
UNSETTLED BALANCES ON THE LEGER.
Debts due the Firm.                     Debts the Firm owe.
Peyton Gardner                    37 40 John Johnson & Son               125 26
Mrs. MatildaWaterby               48 25 Oscar P. Lewis & Co.               9640
Lewis Laflin, Jr.                 15 00                                 $22166
Miss Betsy Crim                    42 00
Steamboat Ohio Belle              87 00
Philip Mendenhall                  34 50
$264 15
You now need some facts contained in auxiliary books, which are omitted.
Suppose, then,
The Stock of furniture on hand amounts, pr. Inventory-Book, to     $776.75
" "        materials and unfinished work,   "       "    "          239.79
" tools, depreciated by use,             "         " (          141.95
The amount of Bills Receivable in possession of the firm, pr. Bill-Book  300.00'  "    " Bills Payable outstanding,              "   "   "      431.20
You have now the materials for the following statements.
Assets.                               Liabilities.
Cash on hand, pr. C.-B.          471 98 Debts the firm owe, pr. Leger    221 66
Debts due the firm, pr. Leger    264 15 Bills Payable, pr. B.-B.         431 20
Bills Receivable, pr. B.-B.      300 00         Total liabilities       $652 86
Furniture, pr. Invt.-Book        776 75
Materials, &c. "    "            239 79
Tools,         (    "            141 95
Total assets            $2,194 62
Deduct liabilities         652 86
Firm's net capital orpres't worth $1,541 76
Assets, including Partners' debits.  Liabilities, including Partners' investments.
Total assets, pr. above statem't  2,194 62 Total liabilities pr. above stateCash paid B. L. Archer             10 00  ment                            652 86
"    "  C. T. Marion             25 00 B. L. Archer's investment        648 08
$2,229 62 C. T. Marion's     "             648 08
Deduct                   1,949 02                               $1,94902
Firm's net gains                $280 60
Each partner's ~   $140.30
Again,                                 Therefore,
Net gains of B. L. Archer $140.30         The difference between the total assets and total
Add credit Bl. of his *a                liabilities of a firm shows the net capital or net insolAdd credit Bal. of his C                 vency of the firm.
pr. Leger             638.08            The difference between the assets, including partB, L- Ac, ci  7 8  ners' debits, and liabilities, including partners' investB. L. Archer's net capital  778.38  ments, shows the net gains or net losses of firm.
Net gain of C. T. Marion $140.30          Each partner's share of net gains, added to his
Add credit Bal. of his %                 account, shows his net capital.*
The net capital of the several partners, being
pr. Leger             623.08           added together, shows the firm's net capital.
C. T. Marion's net capital  763.38   * In a losing business, the losses of each parte-, deducted from
the credit balance of his account, shows his net capital; or ir the
Firm's net capital, as above $1,541.76  net losses are greater than the credit balance of his account, the
39erence shows his net insolvency.
39




QUESTIONS FOR REVIEW, SET II.
How are the Cash-Book and Day-Book of this Set to be written up?
From what book do you post to the Leger?
How can you find examples of the Inventory-Book, Bill-Book, Time-Book, and other auxiliaries
not given in this Set?
What is the form of the Cash-Book, in Set II? How does it differ from that in Set I?
How often is the wages of hands employed paid? How is the time they work kept?
How is money paid or received on account to be entered?
In what is the statement of the forming of a partnership, and the terms thereof usually contained 
When the space left for an account in the Leger is full, what is to be done with it?
What two accounts are transferred in this Leger?
Is the method of transferring them the same in both cases? How different?
What is the Alphabet or Index? Describe its usual form?
Which part of the name of a person is generally written first in the Index?
When, should the title of an account be placed in the Index?  Why is it important to insert it in
the Index as soon as the account is opened in the Leger?
What two accounts are first opened in the Leger?
What is done to B. L. Archer's account, after posting the entries of 1st inst.?
After completing the posting, what do you do? What, after re-examining the Leger, and closing
such accounts as balance themselves?
What is the object in drawing up statements, as shown on page 39?
Where do you enter each partner's share of the net gain? How?
What will the difference between the two sides of each partner's account now show?
What do you do with this net capital?
How do you treat other accounts remaining open in the Leger?
Mention the several accounts in the Leger having balances due the firm?
What is the gross amount of them?
IMention those having balances the firm owe. What is the gross amount?
What is the value of the stock of furniture remaining on hand?
What is the value of materials and unfinished work?
What is the value of tools?
What amount of Bills Receivable have the firm in possession?
What amount of Bills Payable are outstanding against the firm?
What are the total assets of the firm? What the total liabilities?
What is the firm's present worth?
What are the total assets, including partners' debits?
What are the total liabilities, inculding partners' investments?
What are the net gains of the firm?
What is each partner's half of the net gains?
What is shown by the difference between the total assets and total liabilities of the firm?
What is shown by the difference between the assets, including partners' debits, and the liabilities,
including partners' investments?
What is shown by adding each partner's share of net gains to his account?
In a losing business, what is shown by deducting the losses of each partner from the credit
balance of his account?
If the net losses are greater than the credit balance of his account, what does the difference
show?
What is shown by adding together the net capital of the several partners?
40




SET III, SINGLE ENTRY.
BF   441




EXPLANATORY REMARKS,
AND
INSTRUCTIONS FOR WRITING UP SET III.
THERE are blank books for this Set intended to accompany the work, and in these I
wish you to write up the materials found on pages 44 to 49 inclusive. These materials
will afford you a complete and connected history of the business of farming for a year,
(except that some of the petty details, which are of constant occurrence, are omitted, to
avoid an unnecessary and tiresome repetition.) In most cases the gross amounts of
debit or credit are omitted, but the number of acres, bushels, &c., bought or sold, and
at what price, are in all cases mentioned; and you can calculate the amounts for
yourself. This will give just the kind of practice which is needful to prepare for the
actual keeping of books-for no one is qualified to keep a set of books, however well
he may understand the theory of accounts, unless he is quick and accurate in making
extensions, additions, and such calculations as usually occur in business.
You will find at first, underneath each transaction recorded, an elucidation of the
manner in which you are to enter it in your Cash-Book, or Day-Book, or both. But
when there are several records of similar transactions, elucidations are given to one or
more of the first, and omitted in the subsequent ones, in order that you may exercise
your power of thought, and be benefited thereby, instead of being a mere copyist, leaning entirely and constantly upon a support, and ready to fall as soon as that support
shall be removed.
The Cash-Book, -Day-Book, and Leger used in this Set are the same in form and
mode of entry as those in Set II. The blanks prepared have printed explanations on
their covers, which will enable you to use them correctly, and the practice which you
have now had on loose sheets of paper should give you accuracy and neatness in ail
your work. It is no small accomplishment to be able to keep books free from mistakes,
erasures, and blots; and yet all books of account (especially books of original entry)
should be thus kept, for they are frequently the only means of proving important dealings between man and man, and if doubts be cast upon their accuracy and truthfulness,
by a careless (not to say dishonest) manner of keeping them, innocent parties will
thereby oftentimes be sufferers.
First examine critically the history of every separate transaction, before looking at
the elucidation, and determine, if possible, how you would make the entry, and then
compare your own ideas with the elucidation given, and ascertain whether you are right
-and make the entry or entries accordingly. Proceed thus, entering in both Day-Book
and Cash-Book, in order of date, until you have completed the whole year. Then post
the Day-Book-re-examine, to see if rightly posted-close it-and Iraw off statements
as before directed. The statements and deductions on page 53 will enable you to see
whether you have performed all your work with accuracy.
Teachers will find the Cash-Book, Day-Book, Alphabet and Leger, complete, in the
Key to this work, which, with the directions here given, will enable even those unacquainted with the science of accounts to guide their pupils aright in the prosecution of
this study. But all the aid an intelligent pupil needs, except such suggestions as his
teacher will of course give him, is intended to be furnished in the treatise itself, and it
is far better that he should not consult the Key.
42




FARM ACCOUNT, SET III.
This account, given on pages 50 and 51, exhibits in detail, on the debit side, the whole
of your expenditures for the farm, including the expenses of your family; and on the
credit side, the whole of the proceeds accruing and arising therefrom; and is an exemplification of a regular Double Entry property account, except that in Double Entry,
instead of being embraced under one head, it would more commonly be divided into
several separate accounts, as "Dairy Account," "Wheat Field," "Family Expenses,"
"Interest," and the like, and thus enable you to know precisely, truly, and minutely,
the whole state of your affairs, and what branches of your business are more or less
profitable. This account, as here shown, however, enables you to ascertain how much
you have gained by your whole farming operations, and operates as a proof upon the
correctness of your books, by producing the same result.
INVENTORY-BOOK, OR          ACCOUNT-STOCK-BOOK, SET             III.
On page 52, I have given an Inventory-Book. This is a small book, used for taking
an account of the value of property owned by you, at any given date, in order that you
may use it in estimating your net capital, net gains, &c. Merchants take an inventory
of their goods, or, as they usually call it, " take an account of stock," once a year at
least, and every business man should inventory his property as often as this.  It must
of necessity be done whenever you would ascertain the true state of your business
affairs. In taking an inventory, there must be a careful estimate of the value of the
property, of whatever kind, and it is perhaps as safe a rule as any to affix such a price
as the article would bring in market.
To ascertain on what pages the Check-Book and other auxiliaries needed in actual
business are exhibited, refer to the Table of Contents, pages 3 and 4.
REMARKS RELATIVE TO A MODE OF KEEPING A SEPARATE ACCOUNT OF THE
FARMING OF A PARTICULAR FIELD.
As the business of farming has become intimately allied with science, the farmer of the present day frequently desires to try an experiment with some new mode of culture on a particular
field; and, as a means of testing its value, wishes to ascertain the cost of such culture, as well
as the value of the crop produced. Where books are kept by Double Entry, this may be accomplished with comparatively little difficulty; but in Single Entry such experimental accounts
can, with propriety, only be kept as memoranda. Thus:-all the expenditures on the experimental field, as well as on the remainder of the farm, should be entered in your books, (and on
the debit side of " Farm" account, when kept,) and the receipts for the crop taken from said
field, as well as from the other fields of the farm, should also be entered in your books, (and on
the credit side of " Farm" account, when kept,) precisely as though no separate account were
kept of the experimental field. To ascertain the result of the experiment on a particular field,
an account entitled  EXPERIMENT ON FIELD A" (or designated as the case may require)
should be opened in a separate memorandum book, or on a loose sheet of paper: in which account all the items of expenditure appropriately belonging to said experiment should be entered
on the debit side, and the receipts from the crop on the credit side. Such items of expenditure
for labor, manure, &c., as are made wholly for the experimental field, are of course to be placed
wholly to the debit of this account, and of such expenditures as are made for the benefit of the
whole farm, (as for farming utensils, &c.,) a fair proportion should be placed to the debit of
this account.
It will readily be perceived that the correct apportionment of those expenditures which are
made for the entire farm, is essential to the ascertainment of the correct result of the experiment; and that the more nearly this apportionment approaches correctness, will the result of the
experiment as exhibited by the account, come more nearly to the truth.
43




HISTORY AND ELUCIDATIONS, SET III
Lancaster, Penn'a, January             1st, 1852.
My Capital at the present time consists of Cash on hand, $6,275, and Notes which I
hold against other persons to the Am't of $2,629.50.
You must enter in your Cash-Book, on the debit side, the money here mentioned as on hand. thus, "To
Am't on hand at commencing business," giving the date and amount.
The notes would, in actual business, be recorded in a Bill-Book; but you may omit any record of them.
as no Bill-Book is given in connection with this Set. Or, if you prefer so to do, you can rule, on a sheet of
paper, a Bill-Book like that in Set VI. Double Entry, and make therein the proper entries of these notes,
and others which occur in this Set. You can find the name of drawer and the time when due, in thebe
notes, by the history of the payment.
1st
Bo't of Jonas A. Leech a Farm, containing 125 Acres improved Land, and 25 Acres
wood Land, with Stone House, Barn & Out-buildings complete =           150 Acres (    $100
pr. Acre.                                                                   $15,000.00
Paid him    in Cash, $5,000, and gave him        my two Bonds for the Bal., secured by
Mortgage on the Farm, one for $5,000, payable in five years, and one for $5,000,
payable in ten years, each on Int. @ 6 % pr. annum, payable semi-yearly.
As Jonas A. Leech has been paid in full for the farm purchased of him, no entry need be made necessarily
to his account; but in so large transactions as this, it is well to show them in the person's account in youi
Leger, even though paid in full: therefore you may credit Jonas A. Leech (in your Day-Book) with the
farm, and debit him with the cash and bonds given in payment, making the entry full and explicit as to its
details. When this entry in your Day-Book is posted, you may rule and add up the account in the Leger,
before posting any more into it.
In the Cash-Book, on the credit side, enter the money paid, thus, "By Jonas A. Leech, paid in part fol
Farm," giving the date and amount.
cc
Bo't of Jonas A. Leech 20 Acres of Wheat, in the ground, @             $12 pr. Acre, to be
paid for 4 mos. after it is harvested.
This requires a credit to Leech in the Day-Book. Make the correct extension of the amount, which is
here omitted.
Bo't of Jonas A. Leech, his Horses, Cattle, Dairy Stock, Farming Implements, &c.,
as below enumerated:1 Span Horses, one 7, the other 8 years old, $200; 1 Yoke Oxen, 5 years old,
$70; 5 Steers, yearlings last Spring, @ $10; 1 Durham Bull, 4 years old, $100;
1 Alderney Bull, yearling last Spring, $50; 3 Alderney Heifers, 2 years old last
Spring, @   $28; 17 Cows, at an average price of $23; 10 Hogs, @             $6; 12 Pigs,
@ $3; 1 Large Two-horse Wagon, with Cover, $110; 1 Ox-Cart, $30; 2 Ploughs,
@   $10; 1 Harrow, $8; 1 Horse Rake, $5; Dairying Utensils, Fanning Mill, Corn
Cultivator, Pitch Forks, Spades, Shovels, Rakes, Hoes, Flails, and all other Farming Implements now on the place, for the gross sum agreed between us of $65;
Stock of Hay, supposed to be.40 Tons, @          $10; a quantity of Corn Fodder and
Straw, $30; 110 Bush. Wheat @          $1, 250 Bush. Corn @        50; 100 Bush. Oats
@   35 /; 1,000 Bush. Turnips ~       122y; 10 Bush. Ruta Bagas @         25 /; 20 Bush.
Carrots, @   35 Y.                                                           $2,113.50
Paid him in Cash, $625, and a Note against Geo. Wheaton, my favor, ~              6 mos., due
Feb. 10th, proximo, for $355; agreed to pay him in Cash, on the 1st of next Mar.,
$500, and the Bal. 8 mos. from      date.
In the Day-Book, credit Jonas A. Leech for all the above purchases, giving full particulars in systematic
order. Take a separate line for each separate item enumerated, placing the amount of it at the left of the
dollar and cent column. Add up these several amounts, and extend the total into the dollar and cent column.
Debit him with the Cash, and with the note of Wheaton which you pay him.
In the Cash-Book, enter the money paid him, on the credit side.
Agreed with John Jones to work for me on the Farm, at any and all kinds of Farm
work, for one year, @    $12 pr. mo.; Bernard Samson do., @         $10 pr. mo.; Patrick
McFarland @      $8 pr. mo.; and Lewis W. Gregory, boy, @          $3 pr. mo.; also hired
44




HISTORY AND ELUCIDATIONS, SET III. 2
Lancaster, Penn'a, January              1st, 1852.
Margaret Wilson as Dairy-woman, @           $5 pr. mo.; Peggy Morrison, Milk-maid,
@ $4 pr. mo.; Charlotte C. Bryant, Cook, @ $5 pr. mo.; all to be paid monthly.
Total, $47 pr. mo.
This requires no entry in either Day-Book or Cash-Book. It is merely inserted here to preserve the connected history of the whole business.
The paying monthly is introduced in order to lessen the number of similar entries through the Set;
although usually females employed, and sometimes men, are paid weekly.
2d
Bo't for Cash, 75 Bush. Potatoes, @       35, and 1 Bbl. Sweet Potatoes, @       $2.25.
Enter the above upon the credit side of your Cash-Book.
3d
Bo't for Cash, 10 lbs. Beef, @     10, and 5 lbs. Nails, @    5/.
Enter this precisely similar to the last. In the next transaction of the same kind, I shall give you no
uuggestions as to entering it.
Such entries would be of almost daily occurrence in actual life, but I shall give only a few, as specimens.
If I should write out all the details of a farmer's life for a year, it would extend this Set to an unreasonable
length, without any real advantage.
Sent 30 Bush. Wheat and 25 Bush. Corn to Wm. Jacob's Grist Mill, to be ground.
The miller takes toll out of the grain sent, to pay for grinding. No entry required.
10th
Bo't of Orrin Woolworth, 1 Rockaway Wagon, with two seats, which can be used with
one or two horses, for $150, to be paid for in grain.
Sold him on %, 20 Bush. Wheat, ~           $1.05 pr. Bush.
Credit Mr. Woolworth in your Day-Book, with the wagon purchased, and debit him with the wheat furnished. Specify also that he is to be paid in grain. As a general rule, it is well to mention any important
fact in reference to the bargain in making entries in your Day-Book.
Bo't for Cash of Sundry Persons, as pr. Bills, -1 Bbl. Pickled Mackerel, $6; 3 Bbls.
Pork, @   $12; 200 lbs. Sugar, @      5/; 200 lbs. Sugar, @     7; 20 lbs. Loaf Sugar,
(  11 9; 5 Gals. Molasses, @      30 Y; 1 Gal. Sugar-house Syrup, 50 Y; 10 lbs. Tea,
(  50; 2 Sacks, 320 lbs. Coffee, @      10 Y; 2 lbs. Saleratus, @    1229; 4 lbs. Raisins, @  122 9.
24th
Sold to Ebenezer Failing, 5 Tons of Hay @         $15 pr. Ton.
He paid me in part by 20 Bush. Buckwheat, delivered at Jacobs' Grist Mill, @             55.
Mr. Failing must be debited with the hay, and credited with the buckwheat.
31st
Paid in full all the Hands employed by me, according to agreement, of 1st inst., $47.
When the record is "Paid" simply, as in this case, without mentioning how, you are to consider it a cash
payment, and enter it accordingly.
February 4th
Bo't for Cash, 1 quarter of Veal, 15 lbs., ~      7; and 4 lbs. Beef Steak, @      10.
17th
Exchanged my horse Bill (8 years old) for a better match to my other horse, of the
same age, (7 years,) and paid in Cash the difference in value, $10.
Here you need only to enter in the Cash-Book the difference in value of the horses, paid in money.
21st 
Gave to my wife as Shopping Money $25.
Enter, same as any other expense, on the credit side of the Cash-Book.
45




3 HISTORY AND ELUCIDATIONS, SET III.
Lancaster, Penn'a, February 28th, 1852.
Isaac McGuigan has paid me his Note, my favor, due this day, $500.
Enter on debit side of Cash-Book.
Paid Hands in full, pr. agreement, $47.
1852 is leap-year, and February has 29 days, but the 29th is Sabbath, and all payments falling due on
that day must be made the day previous.
March 1st
Paid Jonas A. Leech, on %      of Stock, Farming Implements, &c., Bo't Jan. 1st, $500.
Place this on the credit side of your Cash-Book; and also debit Mr. Leech with it in the Day-Book, as he
was credited with the whole stock and implements when they were purchased of him on 1st January.
16th
Bo't for Cash, to use as manure, 2 Tons Peruvian Guano @ $45 pr. Ton; 2 Tons
Patagonian Guano @      $25; 1,000 Bush. Lime @       10 /; and 100 Bush. Bone Dust
f  50/.
Enter in Cash-Book only.
31st
Paid Hands in full, pr. agreement, $47.
Discharged Patrick McFarland, because I find him untrustworthy.
April 5th
Sent 60 Bush. Wheat to Wm. Jacobs' Grist Mill to be ground.
No entry required.
13th
Sold my Durham Bull to Caleb L. Rodgers, for $125.
Received of him Cash $50, and his Note @        4 mos. for Bal.
As Mr. Rodgers has paid in full, you need not open any account with him; and the only entry here is to
debit the cash received, in the Cash-Book. In actual business, the note would also be recorded in the
Bill-Book.
Killed one of my Steers.     Sold for Cash the 2 Fore-quarters of Beef, 200 lbs., @    7';
1 Hind-quarter, 95 lbs., @   8; 10 lbs. Tallow @   8; and reserved the Bal. for use.
Gave the hide to the Butcher for Killing and Selling.
Enter receipts of money in the Cash-Book.
30th
Paid Hands their Wages in full, $39.
May 1st
Sent my Horses to Ebenezer Failing, Blacksmith, and had 4 New Shoes put on
@  311/ ea.; 4 reset @    122/ ea.
Credit Mr. Failing in the proper book.
19th
Ebenezer Failing has put New Coulter in my Plough and 2 New Teeth in the Harrow
@ $2.50.
25th
Sold Ebenezer Failing, on %, 8 Bush. Seed Potatoes, @         50 f.
Debit Mr. Failing in the proper book.
31st
Paid Hands in full, $39. Also Paid 6 d's.' Work of Day Laborers @ 75 /; Hired
Two New Hands for 3 months from date, at $14 pr. mo.-names, George Munson,
and Wm. Patterson, Jr.
Enter in the Cash-Book only what is paid. It would be well for every farmer, and every other businessman, to have a memorandum-book, in which he can state such facts as the hiring of these two new hands,
and other matters which he cannot enter in his regular book of accounts, and which ought nevertheless not
to be left entirely to the memory, because this often causes disputes and broils, when a few lines in writing,
done at the time, would satisfy all parties.
46




HISTORY AND ELUCIDATIONS, SET III.                                          4
Lancaster, Penn'a, June 1st, 1852.
Rec'd Cash of Timothy Tumbleston for his Note, my favor, due this day, $520.
All receipts to be placed on the debit side of Cash-Book.
1st
Bo't 6 First-rate Milch Cows, with Calves, Alderney Stock, @  $50 ea., of Geo. T.
Lipman.
Paid Cash, $150; Bal. due 1st Sept.
Credit Lipman with the cows, and charge him with the money paid, in the Day-Book.
Also enter in Cash-Book correctly the money paid out.
30th
Paid Wages in full, $67.
Also paid to Jonas A. Leech the Interest on my 2 Bonds, given in pay't of Farm,
ea. for $5,000 = $10,000 @ 6 %, for 6 mos., $300.
All payments to be entered on the credit side of Cash-Book.
July 9th
Rec'd of James McClain, Cash in full for his Note, my favor, due this day, $625.
10th
Bo't of Peter A. Phillips a Market Wagon and Horse for $175.
Paid in part by a Note I hold against Mulford & McKee, due Aug. 15th, for $110,
and agreed to pay the Bal. on the 1st of Jan. /53.
Credit Phillips with the wagon purchased and debit him with the Note.
15th
Paid 4 days' Work of Men to help at Harvesting @ $1.25.
31st
Paid Wages in full, $67.
August 17th
Paid Cash for Marketing, $3.50.
25th
Sold Caleb Cope 2 of my Steers @ $25 ea.
When no mention is made of payment, take it for granted nothing is paid, and debit the person accordingly.
28th
Sold for Cash, to a Drover, my 2 remaining Steers @ $15 ea., and 12 Calves (all
except my Alderneys) @ $5 ea.
31st
Paid Wages of Hands to date, $67.
George Munson and Wm. Patterson, Jr. left to-day.
September 3d
Rec'd of G. M. Wharton, Esq., Cash in full for Notes, placed in his hands Mar. 11th
for collection, to wit: —
One drawn by John Thomas, due Mar. 3d, for $250.00
Int. on same to date, $7.50.
One drawn by James B. Babcock, due Apr. 3d, $269.50
Int. on same to date, $6.74.
Paid him fee for Professional Services, $50.
Enter in the Cash-Book, on the debit side, the money received for notes and interest, and on the credit
side the money paid for professional services.
4thl
Paid Jonas A. Leech in full for Bal. due on Stock, Farming Implements, &c. Bo't of
him on 1st Jan. last, $633 50.
The elucidation of Mar. 1st will apply to this entry.
47




5 HISTORY AND ELUCIDATIONS, SET III.
Lancaster, Penn'a, September 16th, 1852.
E. B. Holden & Co. have this day sent me a Bill of Sundry Articles of Children's
Clothing and other Mdse. obtained at their Store since April 1st, Ai't $62.25.
E. B. Holden & Co. must of course be credited with this bill of Mdse.
30th
Paid Wages of Hands in full to date, $39.
" 12 days' Work ( 759 
October 2d
Bo't of E. B. Holden & Co., on %, Mdse. as pr. Bill, $10.75.
Purchases on account to be credited the person of whom you buy.
Sold E. B. Holden & Co. on % 600 lbs. Butter, in Firkins, @ 169; and 225 lbs.
Cheese, @ 8 9.
Sales on account to be debited the person to whom you sell.
12th
Sold Mrs. Sarah C. Dermott 50 Bush. Potatoes, @ 35 Y.
(Will pay in three mos.)
15th
Stedman & Williston have this day finished threshing my Wheat, furnishing a Threshing Machine, 1 Man and 2 Horses.  They threshed 600 Bush. and charged 6 9 pr.
Bush.
Credit the firm who did the work.
23d
Peggy Morrison, the Milk-maid, left me this day sick. Think I shall be able to get
along without hiring another at present, by letting Patrick and Lewis milk.
Paid Peggy 3 weeks' wages, $3, and made her a present of $3, as she had been a
good girl, and is now sick.
Enter same as any of the other payments of wages.
26th
Sold for Cash to Wm. R. Patterson, 375 Bush. Wheat, @ $1.
30th
Paid Wages of Hands in full, $35.
The 31st is Sabbath.
November 3d
Sold Orrin Woolworth, on %, 50 Bush. Potatoes, @ 35; 50 Bush. Wheat @ $1;
and 50 Bush. Oats ~ 35 9.
Paid Cash for a Suit of Clothes for self, $30; Dresses for Wife, $25; Children's
Clothing, $20.15; Crockery, $15.40; and Groceries, $18.25.
17th
Paid Jonas A. Leech for Field of Wheat Bo't on Jan. 1st, as pr. agreement, $240.
See entry of the purchase, Jan. 1st, and elucidation of Mar. 1st.
27th
Richard P. Simpkins finished chopping wood on my Farm to-day. He has cut 50
cords, @ 50 f pr. cord.
Paid him in part by an order on E. B. Holden & Co., for Dry-Goods out of their
store, to the Am't of $10; and Cash $10.
The Bal. remains unpaid.
Credit Richard P. Simpkins with whole amount of the chopping, and debit him with order and cash.
Then credit E. B. Holden & Co. with your order, favor of Simpkins.
Enter the Cash also in Cash-Book.
30th
Paid Iands their Wages in full, $35.
48




HISTORY AND ELUCIDATIONS, SET III.                                   6
Lancaster, Penn'a, December 3d, 1852.
Sold E. B. Holden & Co. on %, 20 Cords Wood, delivered at their Store, @ $3.
7th
Rec'd of Caleb S. Rodgers Cash in full for his Note of Apr. 13th, @ 4 mos., due
Aug. 16th, $75, and for Int. from Aug. 16th to date, $1.39.
Enter in Cash-Book the whole amount received for note and interest. As no account was opened with
Mr. Rodgers on the 1.3th April, (which see,) he is not to receive any credit here.
Paid Geo. T. Lipman Bal. of his c, in full, due Sept. 1st, $150; and Int. on same
from Sept. 1st to date, $2.40.
Credit Mr. Lipman with interest on his account, and debit him with the payment in full.
14th
Rec'd of Caleb Cope Cash in full of his %, $50.
Sold Stedman & Williston on %, 100 Bush. Corn @ 50 f.
20th
Sold Richard P. Sirapkins on %, 5 Bush. Wheat @ $1.
25th
Sold Caleb Cope 2 Alderney Calves @ $15; 1 Alderney Cow @ $60; 1 Yoke Oxen
@ $75.
See Aug. 25th.
28th
Sold for Cash to Wm. Jacobs, 750 Bush. Oats @ 35 /; 800 Bush. Corn @ 55 f; 50
Bush. Buckwheat @ 60.
Paid the following contributions to charitable objects:
Bible Society, $20; Tract Society, $20; Foreign MIissions, $20; Home Missions, $20; Sabbath School Union, $20; For building Churches, $100; To our
Pastor, $50.
Also paid Schooling of William and Mary for one year @ $75 ea.
Cash-Book entries.
30th
Sold in the City of Philada., for Cash, 1,725 lbs. Cheese, @ 9,; and 900 lbs. Firkin Butter, @ 18 Y.
Paid Freight and other Expenses on same, $11.55.
31st
Ebenezer Failing has this day rendered me a Bill for repairing Wagons and Farming
Implements, Shoeing Horses, and other Blacksmithing to date, $53.75.
Paid Anson Holcomb, Cooper, for Bill of Butter Firkins, Cheese Boxes, and Coopering, during the past year, $26.25.
Paid Wages in full, $35.
Paid Int. on Bonds & Mortgages, favor of Jonas A. Leech, $300.
Rec'd of Simpson Treat, Milk-man, Cash for 9,500 quarts Milk furnished him during
the year, as pr. agreement, taken by him from the Farm each morning, ~ 3',  r
quart.
G                       49




FARM ACCOUNT.
Dr.               Farm.
1852.
Jan.  1 To Cost, 150 Acres @  $100  - -15,000 00
" " " 20 Acres Wheat in the ground @ $12  -  -  -  240 00
"; "" Horses, Cattle, Dairy Stock, Farming Implements, &c.  -  2,113 50
"  2 " 75 Bush. Potatoes  -  -  -  -  -  352 26 25
" "" 1 Bbl. Sweet Potatoes  -  -  -  -  -  -2 25
3  " Beef & Nails     - -   -   -   -   125
10"1 Rockaway Wagon  -  -  -  -  -  -  -  15000
" Mackerel, Pork & Groceries  - - - - - - 107 95
24 " 20 Bush. Wheat  -  -  -  -  -  -  - @  55  1100
31 " Wages of Hands  - - - --     -   47 00
Feb.  4  " Veal & Beef --- -    -   -     145
17  " Difference in Exchange of Horses  -  -  -  -  -  10 00
21 " Shopping Money  - - - --    -    25 00
28 " Wages of Hands  ---       -  -   47 00
Mar. 16 " Guano, Lime & Bone Dust  -  --  290 00
"  31 " Wages of Hands  -  -  - - - - - 47 00
April 30  "     -  -                -    39 00
May  1  " Blacksmithing  - - - - - - - -  -  175'  19  "  cc    -   -.           2 50
"  31 " Wages of Hands  -  -  -  -  -  -  -  -  43 50
June  1 "6 Alderney Cows with Calves -  -  -  -  $50  300 00
30 " Wages of Hands  -  -        -     67 00
"  "  (" Int. on Bonds to Leech  -  - --  300 00
July 10 " Market Wagon & Horse  - ---   175 00
"  15 " Wages of Hands  - - - - - - -   500
31 "  3"  ".                  - -    67 00
Aug. 17 " Marketing  -  - - -             3 50
"  31 " Wages of Hands  -  -  -  -  -  -  - 67 00
Sept. 3 " Professional Services of Geo. M. Wharton  -  -  50 00
16  " Clothing & other Mdse.  -  -  -  -  -  - - 62 25
30 " Wages of Hands  -  -  -          48 00
Oct.  2 " Mdse., of E. B. Holden & Co.  -   -  -  -  - 10 75
15 " Threshing 600 Bush. Wheat -  -  -  -  - @ 6  36 00
23  " Wages of Hands  - ---    -  -    6 00
"  30  "  "  "  -  - -  -  -35 00
Nov.  3 " Clothing, Crockery & Groceries -  --   -  108 80
27  " Chopping 50 Cords Wood  -  -  -  50f  25 00
"  30 " Wages of Hands  - - - --    -   35 00
Dec.  7 " Int. paid Geo. T. Lipman  - - - - -2 40
"  28  " Contributions $250.00, Schooling $150  -   -  -  - 400 00
30 " Freight & Expenses to Market  -   -11 55
31  " Blacksmithing $53.75, Coopering $26.25  -  -  -  80 00
c" " t' Wages of Hands   - -   - -      35 00
c " Int. on Bonds to Leech  - - - - - - - 300 00
20,436 65
Net Gains, as shown on page 53  -   -  -   -5 6 7
$20,752 32
50




FARM ACCOUNT.
Farm.             Cr.
1852.
Jan. 101 By 20 Bush. Wheat  - - - - -   @ $1.05  21 00
24 " 5 Tons Hay  -  -  - -  @$15.  7500
April 13 " Durham Bull  - --   -    125 00
" 2 Fore-quarters, 200 lbs. Beef-  - - -  7  14 00; "  " 1 Hind-quarter, 95 lbs. Beef  -  -  -  -  8  7 60
"  u"  10 lbs. Tallow  - -  -  -  89  80
May 25 " 8 Bush. Seed Potatoes  -  -  -  -  - @ 50  4 00
Aug. 25  " 2 Steers  - ---   @  $25.  5000
28  " 2  "  sold Drover -  -  --  $15.  30 00
"  "  "  12 Calves"  "  -  -  - -  $5.  60 00
Sept.  3  " Interest on Notes collected -  -- -  14 24
Oct.  2  " Butter & Cheese  - - - - -  -   114 00
"  12  " 50 Bush. Potatoes  -  -  -  -  -  @  35  17 50
4  26  " 375 "  Wheat  -  - --  $1.  37500
Nov.  3  "  50'  Potatoes  -  -  -  -  -  -  35  1750
"   "< 50  (  Wheat  -  -  --  $1   5000
"   (C 50  "  Oats  -  -  -  -  -  -  - @  35  17 50
Dec.  3 " 20 Cords Wood  - - - -  $3.  60 00
7 " Interest on C. L. Rodgers' Note  -  -  -  139
"  14 " 100 Bush. Corn  -     509   50 00
"  20 " 5  "  Wheat  - -- @   $1.   500
"  25 " 2 Alderney Calves -  @ $15.  30 00
"   " 1  "  Cow  -  -  -  -600
"  "  " 1 Yoke Oxen -  -  -  - -7500
"  28 ( "750 Bush. Oats -  -  -  -  -  - @  35  26250
"  "" 800  "  Corn  -  -  -  -  @55 ~  440100
"  "  "50  "  Buckwheat  -  -  -  -  60  3000
"  30  " 1725 lbs. Cheese  -  --  @   99  155 25
"   900  "  Butter  - -  -  -  @  189  162 00
31  "  9,500 qts. Milk  - - --   @  285 00
2,609 28
Value of Farm, Stock, so., pr. Inventory  1 8,143 04
/5 >^~~~$20,752 32
51




INVENTORY-BOOK, SET III.
Inventory of my Property, Dec. 31st, 1852:
1 Farm of 150 Acres, worth $10 an Acre more than when I
bought it, owing to good cultivation; but which I will value
at the original cost, $100. pr. Acre                15,000 00
1 Span Horses                                $250.00
1 Horse                                       100.00
1 Alderney Bull, 2 years old,                 120.00
2    "    Cows,                       @ $60. 120.00
6    "     Do.                        " $45. 270.00
16 Common Do. (1 died)                " $20. 320.00
7 Alderney Calves,                    " $15. 105.00
8 Hogs,                               "$6.     48.00
20 Pigs,                              " $3.    60.00   1,393 00
1 Rockaway Wagon                              142.00
1 Large Double Wagon, with Cover              100.00
Market Wagon $70., Ox-Cart $25.                95.00
2 Ploughs,                            @ $7.50  15.00
Harrow $7., Horse-Rake $4.50                   11.50
Fanning Mill & Corn Cultivator                 23.00
Dairying Utensils, Forks, Spades, Shovels, Rakes,
Hoes, Flails, and other Implements, valued at  40.00   426 50
170 Bush. Wheat,                      @ $1.   170.00
250   "  Corn,                         " 50f  125.00
150   "  Oats,                        " 35J    52.50
40    "  Buckwheat,                    " 55j    22.00
115   "  Potatoes,                     " 35f   40.25
48 Tons Hay,                           " $10. 480.00
3 Stacks Straw,                       " $9.    27.00
Quantity of Corn Fodder                        42.00
210 lbs. Butter,                      @ 18i    37.80
154 ( Cheese,                         "  9~   13.86
1,125 Bush. Turnips,                   "122f  140.63
130    "   Ruta Bagas,                " 25/    32.50
25 Cords Hickory Wood,                "$3.     75.00
Quantity of Stable Manure                      65.00   1,323 54
Total         $18,143 04
52




DEDUCTIONS FROM SET III.
UNSETTLED BALANCES ON THE LEGER.
Debts due me.                           Debts I owe.
Ebenezer Failing                  10 00 Orrin Woolworth                 44 00
Caleb Cope                      165 00 Peter A. Phillips                65 00
E. B. Holden & Co.                91 00                               $900
Mrs. S. C. Dermott                17 509 
Stedman & Williston              14 00
$297 50 
Capital at Starting,
Cash on hand, pr. Cash-Book, at starting  --                          6,275.00
Notes held against others,  "    "        -    -    -                 2,629.50
Capital   $8,904.50
Present Worth.
Cash on hand, pr. Cash-Book, at closing   -    -   --             -    888.63
Property owned by me, pr. Inventory-Book,   -         --             18,143.04
Personal accounts due me, pr. Leger,  -   -    -    --            -    297.50
Assets   $19,329.17
Deduct liabilities, viz.:Personal accounts I owe, pr. Leger,  - -    -    -    -    109.00
Bonds & Mortgages Payable, [See entry of the purchase of
Farm, on the 1st of Jan., 1852.]  -  -    -    -    10,000.00  $10,109.00
Present worth, or net capital at closing   $9,220.17
Net Gains in Business.
Net capital at closing business  - -  -        -    -    -    $9,220.17
Deduct net capital at commencing   -    -    -    -    -       8,904.50
Net gains  $315.67
From the above statements, you will perceive that:The amount invested by you at starting business is termed capital.*
Your available means at closing are termed assets.
Your indebtedness at closing is termed liabilities.
The difference between your assets and liabilities is termed net capital or present
worth. (Or, if the liabilities be the greater, net insolvency.)
Also,
By taking your capital at starting from your present worth, you may ascertain your
gains in business.
In a losing business,
By taking your present worth from your capital at starting, you may ascertain your
losses in business.
* The various items which make up this capital are called effects; and if you owed debts also at starting, the
difference between the amount of your effects and debts would be called net capital, or, if the debts were the greater,
net insolvency.
53




QUESTIONS FOR REVIEW, SET III.
OF what business do the materials on pages 44 to 49, inclusive, afford a history?
How are you to ascertain the gross amounts of debit or credit in any transaction?
To qualify a person to keep a set of books, what is necessary besides understanding the theory of
accounts?
Where will you find an elucidation of the manner of entering any transaction recorded in the history to Set III?
Of what form are the Cash-Book, Day-Book, and Leger used in this Set?
Where are the explanations requisite for the blank books which accompany this treatise to be
found?
Why should all books of account be kept free from mistakes, erasures, and blots?
What are you to do before looking at the elucidation of any transaction, and how are you to make
the entry?
What is to be done after the Cash-Book and Day-Book are completed?
What after finishing the posting?
What after re-examining the posting?
What after closing the Leger?
What test of accuracy have you?
What is the Inventory-Book?
Of what use is this estimation of the value of property owned by you?
How often do merchants " take an account of stock?" Should every business man do the same?
How often must it necessarily be done?
What is the best rule as to tfe value to be affixecd o your property?
What is exhibited on the debit side of the Farm account?
What on the credit side?
Of what is this account an exemplification?
What does the account as here shown enable you to ascertain?
Of what is it a proof?
Mention the persons who owe you on closing business.
What is the gross amount?
Mention those whom you owe.
What is the gross amount?
What amount of cash was on hand at starting?
What amount of notes did you hold against others?
What was the total capital at starting? How ascertained?
What amount of cash is on hand at closing? What amount of property is owned by you? What
amount is due on personal accounts?
What are the total assets at closing? How ascertained?
What amount of personal accounts do you owe? How much on bonds and mortgages?
What are the total liabilities? How ascertained?
What is the present worth or net capital at closing? How ascertained?
What have been your gains in business? How ascertained?
What is the amount invested by you at starting termed?
What are the various items which make up this capital called?
What would the difference between your effects and debts at starting be called?
What are your available means at closing termed?
What is your indebtedness at closing termed?
What is the difference between your assets and liabilities termed?
How do you ascertain your gains in business. How your losses?
What is to be done, if bad debts exist at closing? [See Note, page 18.]
54




SET IV, SINGLE ENTRY.
I HAVE given a Crew's Leger in connection with the Western river Steamboat Set of
books, pages 200-203, for keeping accounts with the hands on board the boat, and the
form of accounts there shown is so simple, that I concluded, in revising for this edition,
to give here an illustration of the same method, for the use of persons whose business is
very limited, and who may prefer to adopt it. It is to use a Leger only, ruled like the
Cash-Book to Set I, [page 19,] and to enter directly in it all the debits or credits to the
different parties with whom you have dealings, without the intervention of the Day-Book.
The Cash account may be kept in a portion of the Leger, instead of having a separate
Cash-Book, and any property accounts may be also kept, if desired, as well as in the
preceding Sets given.
I have omitted the Cash account, because its form and treatment would be precisely
like Cash-Book, Set I, above referred to; and also, to save room, have omitted all
statements, deductions, &c. Indeed, I have not endeavored to make the Set complete,
as I do not intend it to be written up. You will be able at once to comprehend it, by a
mere examination, after having progressed thus far.
The Index (here omitted) would of course be needed, for convenient reference to the
Leger.
55




LEGER, SET IV.
James B. Loughead.            Dr.    Cr.
1852.
Dec. 3 To Re-setting 4 Tires to Wagon                  3 00
~  " "Mending King Bolt                              25'c' " 2 Nuts to Bolts                               13
23 " Shoeing Oxen, $1.50, Clevis 37                  1 87
"    "" 6 Iron Wedges, different sizes,               3 38
" "    Mending Eye to Trace Chain                    10
"  27 By 4 Bush. Potatoes @ 35                              1 40
"31 " 16 lbs. Butter  20                                    3 20
"    " " BaL to New %                                       4 1 3
8 73j  8 73
1853.                                                  8      873
Jan. 1 To Bal. from Old %                              413 
Herman Logan.               Dr.   Cr.
1852. 
Dec. 4 By 4 days' Work @ $1.                                  400
11 " 52      "     $1.                                   550
To Cash on                                        6 00 
t 18 By 43 days' Work  $1.                                 475
25 " 5        "   "$1.                                    500
", 31  t 31      "  " $1,                                   3225
To Cash in full                                  1650 __
22 50  22 50
Orlando Chase.              Dr.   Cr.
1852.
Dec. 10 By 4 lbs. Tea @ 45                                    180
~   "' 1 " Allspice                                       13
"   " 2 " Raisins @1229                                    25
16 To 5 " Wrought Nails for Doors @ 259            1 25
21 " Iron Bar for Store Windows                       88
"  24 By 20 lbs. Brown Sugar @ 72                           1 50'  30 " 10 " Coffee      "99                                 90
" I s 1 Gal. Molasses                                       40
"  31 " 14 Yds. Merrimac Prints @ 122                       1 75
~   c " 302 "  Lowell Sheeting " 10                        3 05
"  L "  " Bal. to New %c                             7 6 5
978   978
1853.= -
Jan. 1 By Bal. from Old                                   11 7 65
Mrs. Mary Pennington.           Dr.   Cr.
Dec. 28 To Ironing Sleigh, as agreed                  15 00
56




LEGER, SET IV.                          2
Wendall A. Lyons.           Dr.   Cr.
1852. 
Dec. 6 To 4 New Linch-Pins                            38
7 "   1 Pr. Iron Hinges for Barn                 75
C 1 "I  "  "   ( "'~  "  (                     62
"9 " Ironing Cart, as pr. agreement              10 50
" Mending Plough                             125, 17 " Repairs to Carriage                         313
"   " By 10 Bush. Wheat @ $1.                            1000
" 20 "4     "  Corn  "50j                                 200
" 22 " 201bs. Cheese  " 79                               1 40
c" To Mending Log Chain                          25
25 " Shoeing Horses, 5 New Shoes                 1 56
27 " Ironing York Wagon in the best manner, as agreed,  25 00,, "  Making 3 Screws and Nuts                     45
" "' Mending Stirrup to Saddle                    10
" 28 " 4 New Teeth in Harrow75
29 " Irons on Whipple-trees                      1 00
"  " By Cash on %c                                     2000
"  " " 15 Bush. Potatoes @ 35                            5 25
cac "  3   "  Oats   "409                                120
30 To Log Chain                                  250
"  "  1 Small Bolt                              16
"Mending Iron Kettle                          44
"R (   Repairing Sleigh, as agreed                4 25
s"  " By Cash on %                                       500
31 To Putting Bands on Beetle                     50
4 I     C "3 Strong Latches to Barn Doors          1 13
"5 "4 " 1 Bolt for Pump                              19
" ) Mending Shovel                                31
"   "    "  "  Manure Forks                          62
i  " " Staple & Ring for Hitching-Post             38
" Repairing Wheel-Barrow                     94' " By Bal. to New %                                    12 31
5716  57 16
1853.=                                                    -
Jan. 1 To Bal. from Old %                           12 31
Wilson P. Jones, Jr.         Dr.   Cr.
1852.
Dec. 1 To Shoeing Horses,
4 New Shoes @ 311'                  1.25
4 Shoes, reset, " 1229.50    1 75
c 10 " Repairing Wagon                             2 25
" 15 By Cash in full                                     400
4 00  400
H                   57








BY
59




INTRODUCTION
TO
DOUBLE ENTRY BOOK-KEEPING.
BOOK-KEEPING by Double Entry is the keeping of accounts in such a manner that
each entry contains both a debit and a credit, and hence the name.
BOOK-KEEPING by Single Entry, as already explained, embraces only the accounts
of persons; but, in DOUBLE ENTRY Book-keeping, persons and things are alike debited
and credited, and accounts are kept, not only with individuals, but also with the different
species of property in your possession, and with the different branches of your gains
and losses in business. All accounts are representative, of whatever name or description; thus, accounts kept with persons represent your business relations with those
persons, accounts kept with the different species of property in your possession represent your business relations with those different kinds of property, and accounts with
the various branches of your gains and losses represent you as gaining or losing in
business.
The distinguishing feature of Double Entry Book-keeping consists in carrying out a
mathematical principle of equilibrium, under the titles of debtor and creditor, or of
debits and credits. It is this: IN AMOUNT, EVERY DEBIT MUST HAVE A CREDIT, AND
VICE VERSA, EVERY CREDIT A DEBIT.* The particular method or form in which books
are kept is not essential, so that they conform to the principles of Double Entry, and
preserve strictly the equilibrium of debit and credit.
The Origin of the science of keeping books by Double Entry has been a matter of
much speculation by different writers on the subject, but nothing definite can be ascertained respecting it. McCulloch, in his Commercial Dictionary, says "it was first
practised in Venice, Genoa, and other towns of Italy, where trade was conducted on an
extensive scale at a much earlier date than in England, France, or other parts of
Europe." Kelly, in his treatise on Book-keeping, published in London in 1833, (first
edition in 1801,) says, "it is generally supposed to have been first practised at Venice
in the fifteenth century, when that city was the grand emporium of Europe:" although
he adds, "it is remarkable that the first European who translated Algebra from the
writings of the Arabians is also supposed to have written the first treatise on Bookkeeping. It was published in the Italian language at Venice, about the year 1495, by
Lucas de Burgo, a friar, who likewise wrote several useful works on mathematical
subjects." Colt, in a lecture delivered at Boston, says that the Italians "most likely
picked up, among other things, all they ever knew of Double Entry Book-keeping, at
Constantinople, Alexandria, or some other eastern city, whose traders more anciently
may have practised it in their commerce with northern Africa, Hindostan, and the
countries bordering upon the Red Sea:"-and thinks it more likely that the Hanseatic
merchants are the inventors of Double Entry than the Italians.
To whomsoever the credit properly belongs, the Italians have pretty generally
received it, and that system of Double Entry which is shown in the first part of this:- Recollect that this equilibrium is an equilibrium of amount, and not in the number of debits and credits. Ono
debit may be balanced by several credits, or one credit by several debits, if the gross amounts in each case arr eoual.
60




INTRODUCTION.                                 2
treatise-embracing the Day-Book in history form, (originally called Waste-Book or
Blotter,) the Journal, and Leger, as the main books of entry-is usually denominated
the Italian method.
Since the publication of the first work at Venice, there had been, previous to 1810,
according to Isler, of Brussels, "150 authors on Book-keeping in different parts of
Europe, among whom he enumerates 70 in Germany, 25 in France, 7 in Holland, 3 in
Italy, and 30 in England. Subsequent to that time, it is not improbable there have
been as many writers on the subject; and this country has recently had its full share.
The author of this work has examined upwards of 20 different treatises on Book-keeping published in the United States since 1815, exclusive of a large number of small
works on Single Entry.
There have been constant improvements in the method of keeping accounts, and very
many changes made in the form and use of the different books, so as the better to
adapt them to any specific class of business required; but these improvements have
been made, for the most part, by practical accountants, and writers on the subject have
by no means kept pace with the progress that has been made.
The old Italian method has been adopted in the first three Sets here shown, because
it is the basis of all other forms, and therefore the best form from which to learn the
first principles of the science. The main books of entry, as already stated, are the
Day-Book, Journal, and Leger. More or less auxiliary books are used in connection
with these, according to the nature of the business transacted; but as a knowledge of
these auxiliaries is easily obtained, it is not thought best to encumber the mind of the
student with them at first, and they are accordingly omitted until a subsequent part of
the work. In the fourth and fifth Sets, I have shown another method of keeping
accounts, which somewhat shortens the work, and lessens the labor of the accountant;
and in the sixth Set nearly the same method is continued. Set VI, however, had been
prepared with particular reference to its practical character, as suited to a foreign
shipping and commission business; and the various auxiliary books are here introduced
for the first time. Set VII, of the High-School edition, illustrates one of the best
forms for actual use, and one perhaps more used in the different kinds of business than
any one form:-while in the Counting-House edition, a large number of practicalforms
of accounts are given, some now used by and obtained from accountants in the various
departments of trade and commerce in the United States, and others original with the
author, which will materially lessen the amount of writing and labor requisite in keeping
books. Thus the design has been, from the simplest commencement, to attain to the
most thorough and practical results by a plain, easy, and gradually progressive process.
DEBTOR AND CREDITOR DEFINED.
DEBTOR signifies the person or thing which is held bound, which owes, or which is
under obligation.
CREDITOR signifies the person or thing which holds bound, which is owed, or which
has conferred an obligation.
Therefore, whenever any personal account, property account, or account of gains
and losses is debited on your books, it signifies that the person or thing represented
thereby owes you; and whenever any account is credited on your books, it signifies that
you owe the person or thing so represented.
GENERAL RULE
FOR JOURNALIZING TRANSACTIONS, OR
FOR DETERMINING WIAT TO DEBIT AND WHAT TO CREDIT.
Transactions or trades have their foundation in exchanges of value. In every trade
in which you are interested, value (real or supposed) goes from your possession, and
61




3                                 INTRODUCTION.
value is also received by you. The value with which you part is either given for the
use and benefit of some person, without his immediately remunerating you for it, thus
making him your debtor; or else it is given for some species of property or some
branch of your gains and losses, which thus becomes your debtor, for this cost or outgo.
The value which you receive is either furnished by some person, without your immediately remunerating him for it, thus rendering him your creditor; or else is paid for
through the medium of some species of property or some branch of your gains and
losses, which thus becomes your creditor, for this value produced.
As value exchanged is the basis of all trade, it should also be the basis of any rule
or rules for entering transactions which occur in the course of trade; and the great
value of good rules consists not in their arbitrarily producing results, but in their containing within themselves the reason for such results, so that the learner cannot apply
the rules without understanding the subject-matter.
The following GENERAL RULE for journalizing transactions, (or for determining
what to debit and what to credit,) is believed to be of such a character, and to be
applicable to every transaction that will occur in the ordinary course of trade, whether
on a limited or on an extended scale.
RULE.
IN STOCK BOOKS.
Any person or thing is DEBTOR when you give value or become obligated for it.
Any person or thing is CREDITOR when it produces value or renders service for you.
IN PARTNERSHIP BOOKS.
Any person or thing is DEBTOR when the firm give value or become obligated for it.
Any person or thing is CREDITOR when it produces value or renders service for the
firm.
Or Briefly.
IN STOCK BOOKS.
DEBIT what COSTS you value.
CREDIT what PRODUCES you value.
IN PARTNERSHIP BOOKS.
DEBIT what COSTS the firm value.
CREDIT what PRODUCES the firm     value.
NoTE.-The above Rule will not apply for determining the opening Journal entry of individual or stock books, since the Rule is
unly applicable to transactions between two or more parties in business; but it will apply to the opening entry of partnership books,
as there must necessarily be an agreement or bargain between tue parties at the commencement of business.
62




SET I, DOUBLE ENTRY.
IT should be borne in mind that each set is intended to represent a business by itself,
independent of the others; and particular attention should be paid to the opening and
closing of each, to discover clearly the various exhibits made of capital invested, gains
or losses in business, and net capital or insolvency resulting therefrom. The continuance of each set for one month is intended to represent a year, this being as often as
books are closed in a majority of houses, although some close every six months.
aa




EXPLANATORY REMARKS, SET I.
THE DAY-BOOK.
THE Day-Book, in the Italian method, is a plain history of your business transactions,
written in the order and date of their occurrence. It is necessary to open the Day-Book
by giving therein a statement of your effects at the commencement of business, and also
of what debts you owe. Afterward record in detail every transaction that occurs in the
course of business, making the entry, in history form, in as few words as possible, and
have it complete. [See Day-Book, page 66 ]
THE JOURNAL.
The Journal is used for arranging under Leger titles the entries that have been previously made in the Day-Book, and for affixing to each Leger title the correct amount
of debit or credit, which is called journalizing. This is done that the accounts may with
ease be collected under their proper heads in the Leger.
There are various styles of Journal. The one given with this Set has two dollar and
cent columns, one for the debits and one for the credits. The debtors are written first,
commencing at the left-hand marginal line, and having their amounts extended into the
debit column. The creditors are designated by commencing at a short distance from
the left-hand marginal line, by being prefixed with the word " To," and by having their
amounts extended into the credit column. [See Journal, page 68.]
THE LEGER.
The Leger may be appropriately styled the grand reservoir of accounts, into which
all records in the other books flow as naturally as streams to the ocean. It may also be
styled the business-man's directory, from which he can refer to the details contained in
the books of original entry, with the same ease as he would trace out the residence of a
friend by searching the street an  number in the City Directory. Its principal use is
to collect under one head all sums belonging to the same account. Copying from the
Journal to the Leger is called Posting. By examining the Leger, and tracing out a few
postings, you will see that there are spaces ruled for particular purposes-viz. for the
date, the name of balancing entry to each debit or credit, the folio of Journal, and the
amount-and that the form and mode of entry in a Double Entry Leger is very nearly
similar to Single Entry.
NOTE.-" By," whenever used in any of the books, is the prejs mn the debtor, although generally placed on the creditor side of an
account; and " To" is the prefix of the creditor, although generally placed on the debtor side of an account.
BILLS RECEIVABLE.
Bills Receivable may be defined as follows:
1st. A note in our possession, drawn by another person, payable to us or order.
2d. A note drawn by another person, purchased by us, although not originally made
payable to us.
3d. A draft or bill of exchange drawn by one party on a second, and coming into our
possession as a third party, whether accepted or not.
4th. Our draft on another, accepted by him and retained in our possession.
64




BILLS PAYABLE.
1st. Our note payable to another person.
2d. A draft or bill of exchange on us, and accepted by us.
3d. Any bond or obligation in contract, with our signature, and requiring payment
of us.
NOTE 1.-Notes are said to be negotiable when they are drawn in such form as to be transferable from one party to another, and
may be collected by the last party to whom transferred.
NOTE 2.-The above definitions of Bills Receivable and Bills Payable have been here given, to enable the student more readilv to
comprehend them in future entries; and when he has any difficulty in determining what should be called Bills Pay. or Bills lec., he
will do well to read them over.
INSTRUCTIONS FOR WRITING UP SET I.
Write Set I on loose sheets for practice, (prior to writing Sets II and III in the blank
books which accompany this treatise.) Rule sufficient paper for the purpose after the
forms shown, and then copy off all the entries in the printed Day-Book.
JOURNALIZING.-From this Day-Book, so copied, make out your Journal, relying as
far as possible upon your own reasoning powers, in the application of the general rule
for journalizing and of the explanations contained on the preceding pages.      When you
cannot determine the correct entry yourself, you may refer to the printed Journal, and
pattern after it, but in every such case, as well as where you make your own entry, you
should carefully read over the elucidation found underneath the entry, in the printed
Journal; and make the reason of each debit and credit perfectly understood before you
proceed to the subsequent entry. I cannot too firmly impress this upon your mind, for
the clear comprehension of the whole science of Double Entry hinges, as it were, upon a
thorough acquaintance with the principles of journalizing; and although the Journal is
now often laid aside in actual business, yet you must thoroughly understand how to use
it, in order to be able to do without it.
OPENING THE JouRNAL.-The name usually given to an individual in business by
himself is Stock, and his books are called Stock books, in contradistinction to Partnership books: you may therefore consider Stock as your alias, and debit and credit yourself under that title. On opening the Journal at the commencement of business, debit
each person that owes you for the amount of his indebtedness, and each species of property in your possession for its value, thus expressing their obligation to you; and credit
Stock (yourself) for the whole amount of your effects invested, consisting of this
indebtedness of persons and value of property.      Again, debit Stock (yourself) for all
your indebtedness; and credit each person the amount you owe him, and each property
account the amount of your obligation, as shown under that head. Your own name can
be used instead of Stock, if preferred.
When two or more persons are associated in business, their books are called Partnership books; for the method of opening which, see Set IV.
la    For instructions on posting, see page 73.
NOTE 1.-The total footing of the Day-Book must agree with that of the Journal. Also, the footings of the debit and credit coiamnq
of the Journal must be equal.
In practice, these additions of the money columns in Day-Book and Journal are frequently omitted; but great care must then be
taken to see that each Journal entry has an equal amount of debit and credit, for if this equilibrium does not in all cases exist, the
Leger will be out of balance.
NOTE 2.-The Index to Leger, Set I, is omitted, but the pupil can make one for his Leger, as he posts. Fcr form, see page 35.
1                          65




~1 ~             DAY-BOOK, SET I.
Philadelphia, January 1st, 1852.
V/ Inventory of my effects on commencing business
*   400 Yds. Blk. Eng. Cloths   @ $3.      1,200.00
460  "  Ass'd "   Do.      @ $2.50     1,150.00
720  "  Blk. "   Cassimeres @ $1.50    1,080.00
385  "  Ass'd "   Do.      ( $1.        385.00 3,815.00
Cash on hand                                   2,000.00  5,815 00
2d
/ Sold, for Cash, to Isaac Bates
100 Yds. Ass'd Eng. Cloths   @ $3.               300.00
160  "  Blk.   "   Cassimeres ( $2.             320.00     620 00
3d
V   Sold to James Melrose, for his Note @ 30 days,
190 Yds. Ass'd Eng. Cassimeres @ $1.16                     220 40
5th
V   Sold to Philip Somers on %
175 Yds. Blk. Eng. Cloths @ $3.75                          656 25
V Bought of Nathan S. Faxon, for Cash,
225 Yds. Blue Eng. Cloths @ $3.25                          731 25
6th
V  Bought of James Walton, on my Note @ 60 days,
350 Yds. Blk. Fr. Cloths  @ $4.                1,400.00
195  "   "   " Cassimeres @ $2.                 390.00
200    "     Eng. Do.        $1.                200.00   1,99000
8th
V  Bought of Elihu Barnes on %, @ 90 days,
238 Yds. Ass'd Fr. Cassimeres @ $1.25                      297 50
9th
V  Sold to Wm. Alexander 250 Yds. Blk. Fr. Cloths ( $5.           1,250 00
Received in Payment, Cash,                    450.00
His Note, ( 30 days, for the Balance    800.00 1,250.00
12th
V  Sold to Thomas Carpenter & Co. 195 Yds. Blk. Fr. Cassimeres ( $2.25  438 75
Received Cash in part payment                         300.00
The remainder sold on %                         138.75
13th./  Paid Cash to L. W. Camden, for repairs of Store                  50 00
12,069 15
* These check-marks indicate that the entries have been journalized, and should be placed opposite each
entry as soon as it is transferred to the Journal. Some use the Journal folio instead.
66




DAY-BOOK, SET I.                                   2
Philadelphia, January 19th, 1852.
Am't Bro't forward  12,069 15./ Sold to Martin Pemberton, on %, 125 Yds. Blue Eng. Cloths @ $4.   500 00
20th
V  Sold to Philip Somers 230 Yds. Ass'd Eng. Cloths @ $3.            690 00
Received payment in part by Elihu Barnes' Note, in favor of
P. Somers, due March 4th, Am't                 350.00
The Balance sold on %                            340.00
22d
/ Bought of Elihu Barnes 400 Yds. Ass'd Eng. Cassimeres @ $1.50      600 00
Paid in part by his Note, favor of P. Somers, due Mar. 4th  350.00
The Balance purchased @ 30 days' credit          250.00
23d
/ Bought of Ezra Peterson 240 Yds. Ass'd Fr. Cloths ~ $3.            720 00
Paid Cash in part                              400.00
Balance on %                             320.00  720.00
24th
/  Received Cash of Philip Somers on Y                               656 25
26th
/ Sold to Thomas Carpenter & Co. 220 Yds. Ass'd Fr. Cloths @ $3.40   748 00
Received an Order of Samuel W. Fairburn on me          400.00
Cash                                             200.00
Balance on %                                     148.00
27th
v  Appropriated Cash for Personal Expenses                            60 00
---------- _        29th
/ Sold to Thomas Carpenter & Co.
225 Yds. Blk. Eng. Cloths  @ $3.75               843.75
130  "  Ass'd"     Do.     ~ $3.00               390.00
200  "  Blk. "   Cassimeres ( $1.25              250.00
195  "  Ass'd"     Do.      (3 $1.16             226.20   1,709 95
Received in payment, Cash                      569.98
Their Note @ 60 days                     569.98
Balance on % @ 30 days                   569.99 1,709.95
31st
/ Paid Ezra Peterson Cash in full of his                             320 00
Paid Cash for Rent of Store one month                     75.00
" Clerk hire    "    "<                       75.00
" Gas Bill      "                              5.00    155 00
K..................... - 18,2281J3
67




JOURNAL, SET I.
Philadelphia, January 1st, 1852.                             Dr.         Cr.
L.F. 
1      Sundries               Dr.            To Stock                                               5,815 00
1    Merchandise                                                                    3,815 00
1    Cash                                                                           2,000 00
You must imagine this to be your own business, and bear in mind that
"STOCK," as here used, does not mean goods on hand, but represents you,
instead of your own name. This entry means simply Sundries Dr., and Stock
(yourself) Cr. Under the heading "Sundries," the several items which make
up the sundries are always enumerated:-in this case, as you see, the items
are ifdse. and Cash, each of which is considered as obligated, or indebted to
you for its value. You are credited, under the title of Stock, for the Effects
invested by you in business.
See remarks on the opening of the Journal, page 65.
-1 —-- ~2d
Cash                     Dr.            To Merchandise                             620 00         620 00
1          The Cash which you get in this trade has cost you Mdse. to the value of $620,
and is considered as owing you for its cost. The Mdse. which you have sold has
been the means of your receiving $620 in Cash, and you are considered indebted
to it for the value produced; therefore,
Cash is Dr. because it has cost value. —Mdse. is Or. because it has produced value.
UIJ  Be careful to notice the form of each entry, and the manner of extending
the amounts into the columns. In this case you perceive both a debit and credit
extension on the same line. Notice, also, that several items of the same kind of
property do not constitute sundries in the Journal, but the term Sundries is
the caption when there are several Leger titles.
-1. —--                     3d
Bills Receivable        Dr.           To Merchandise                             220 40         220 40
By this transaction a Note is received for Mdse., instead of Cash, as in the
preceding entry.
Bills iec. Costst value, and is Dr.-Mdse. produces value, and is Or.
2              5th
Philip Somers           Dr.           To Merchandise                              656 25        656 25
1          You do not here receive immediate payment for the Mdse. sold, as in the two
preceding entries; value has not, therefore, been given for Cash or Bills Rec., or
any other species of property, and no property account is Dr.-But value has gone
from your possession in Mdse. to the amount of $656.25, for the use and benefit
of Philip Somers, without his remunerating you for it: therefore he has been
the occasion of an outgo, or expense, to you; in other words, has cost you value,
and is Dr. MIdse. has produced value in his indebtedness, and is Cr.
Merchandise               Dr.           To Cash                                    731 25         731 25
This and the two following entries are the exact counterparts of the three
preceding ones.
Here Mdse. costs value in Cash: —Cash produces value by paying for the Mdse.
6th
Merchandise              Dr.            To Bills Payable                        1,990 00       1,990 00
MIdse. costs value in your Note:-Bills Pay. produces value by paying for the
Mdse.
1                                       8th
Merchandise            Dr.           To Elihu Barnes                            297 50         29750
2           fMdse. costs value in your indebtedness to Barnes:-E. Barnes produces value
by furnishing you with the goods without pay.
9th
1    Sundries                Dr.           To Merchandise                                         1,250 00
1    Cash                                                                             450 00
1    Bills Receivable                                                                 800 00
Sundries-to wit, Cash and Bills Rec.-have cost you value in Mdse, and each
is Dr. for its cost. Mdse. has produced value in the Cash and Note, and is Cr.
12th
1    Sundries                Dr.           To Merchandise                                            438 75
1    Cash                                                                             300 00
2    Thomas Carpenter &           Co.                                                 138.75
Cash and T. Carpenter & Co. have each caused you to part with Mdse., and
have thus been a cost to you.                                                       1
Mdse. has produced you value in Cash and the indebtedness of Carpenter & Co. 12 019 15  12,01915
* Omit the Leger folio until you post.
t Whenever, as in this case, I am speaking of the Leger account of "Bills Rec." or "Bills Pay.," I use the singular verb, because
lbe ncun is really singular, although the word " Bills," of itself, is plural.
68




JOURNAL, SET I.                                         2
Philadelphia, January 13th, 1852.           Dr.      Cr.
L. F.                                    Am'ts Bro't forward  12,019 15 12,019 15
2   Store Expenses  Dr.       To Cash                         50 00      50 00
Store Expenses have cost you value, and are Dr.-Cash has produced you
value, by paying for repairs, and is Cr.
2                           19th
Martin Pemberton Dr.       To Merchandise                 500 00    500 00
1       The elucidation of the entry of the 5th inst. will fully explain this transaction.
20th
1   Sundries        Dr.       To Merchandise                            690 00
1   Bills Receivable                                         350 00
2   Philip Somers                                            340 00
You have given Mdse. to the value of $690 for Barnes' Note and for Somers'
obligation; therefore, Bills Rec. and P. Somers are Dr. for what they cost you,
and Mdse. is Cr. for the value it produces you.
22d
1   Merchandise     Dr.        To Sundries                   600 00
1         To Bills Receivable                                           350 00
2         " Elihu Barnes                                                250100
Mdse. costs $600, and is Dr.-Bills Rec. and E. Barnes produce value; Bills
Rec. by paying for part of the goods, Barnes by furnishing part without pay.
23d
1   Merchandise     Dr.        To Sundries                   720 00
1         To Cash                                                      400 00
3         " Ezra Peterson                                               320 00
Mdse. costs value.-Cash and E. Peterson produce value.
1                    -        24th 
Cash             Dr.       To Philip Somers               656 25    656 25
2       Cash has cost you the former indebtedness of Somers.-Somers has produced
value by paying his account.
26th
1   Sundries        Dr.       To Merchandise                            748 0C
3   Samuel W. Fairburn                                       400 00
1   Cash                                                     200 00
2   Thomas Carpenter & Co.                                   148 00
An Order is a request in writing that you will pay a certain sum for another
person. Here you have parted with Mdse. to the value of $400, at the request of
S. W. Fairburn; thus he has cost you that much, and owes you for it, or is Dr.
For remainder of entry, see elucidation of 12th inst.
3 -27th
Personal Expenses Dr.      To Cash                         60 00     60 00
J1      Personal Expenses cost value; Cash produces value by paying these expenses.
29th
1   Sundries        Dr.       To Merchandise                          1,709 95
1   Cash                                                     569 98
1  Bills Receivable                                          569 98
2   Thomas Carpenter & Co.                                   569 99
Sundries cost value in Mdse.
g3           -----------— 31st
Ezra Peterson    Dr.       To Cash                        320 00    320 Ou
1       Peterson costs you $320 in Cash.-Cash produces value by paying the debt.
20
2  Store Expenses   Dr.       To Cash                        155 00    155 00
X1      Store Expenses cost value in Cash.                      I
18,228 35 18,228 35
69




~1 ~            LEGER, SET I.
Dr.                       Stock.                      Cr.
Date.  Balancing Entry.  J. F. Amount.  Date.  Balancing Entry.  J. F. Amount.
1852..             1852.
Jan. 3 1 To Bal. (Net Cap.) 3 6,7 5 201 Jan. 1 By Sundries  1 5,815 00
" 31 " Profit & Loss  3  93710
675210               _          752 1
Dr.                    Merchandise.                   Cr.
1852.                        |  1852. 
Jan. 1 To Stock      1 3,815 00 Jan. 2 By Cash      1   620 00
"  5 " Cash        1   731 25    3 " Bills Rec.  1   220 40
"  6 " Bills Pay.   1 1,990 00 "  5 " P. Somers   1   656 25
s  8 " E. Barnes    1   297150 "  9 " Sundries    1 1,250 00' 22 " Sundries     2   600 00 " 12 "    "        1   438 75
" 23 "     "        2   720 00 " 19 " M. Pemberton 2  500 00
8,153.75       " 20 " Sundries     2   690 00,, 31 I Prof.&Loss(gain) 3 1,202 0 2 1  26        2   74800
" 29'"    "        2 1,70995
6,833.35
/y^    _~i__ ~ ~,'  31 " Bal. (Inv't.)  3 2,5 2 5 0
9,355 85  _                   9,355 85
Dr.                       Cash.                       Cr.
1852.                         1852.
Jan. 1 To Stock      1 2,00 00 Jan. 5 By Mdse.      1   731 25
"- 2  " Mdse.       1 1620 00 " 13 " Store Expenses 2  50 00
4 19  "   "         1   45000 " 23 " Mdse.        2   40000
" 12 "(   "         1   300 00' 27 " Per. Expenses 2  60 00
" 24'" P. Somers   2   656 25 " 31 " E. Peterson  2  320 00' 26 " Mdse.        2   200 00  "' Store Expenses 2  155 00
"  29  "  "         2   569 98                1,716.25
t |29|   4,796.23  56 8    31 i"  Bal.(on hand)  3  3,079 998
___'  I _14,796123  1                  14,796 23
Dr.                   Bills Receivable.               Cr.
1852.                         1852.
Jan. 3 To Mdse.      1   22040 Jan. 22 By Mdse.    2    35000
c  9 "    "         1   80000 " 3l1 " Bal. (unpaid)  3 1,59038
" 20 "    "         2   35000
" 29 "    "         2   56998
1940.38  1,94038          ___ /,9
70




LEGER, SET I.                              2
Dr.                       Philip Somers.                      Cr.
-an.                   J.1F.
1852.                  J.F.        1852.                  J. F.
Jan. 5 To Mdse.         1    656 25 Jan. 24 By Cash        2   656 25
"  20 "    "           2   34000   "  31, Bal. (due me)  3  340 00
998.25  99625                             99625
Dr.                       Bills Payable.                      Cr.
1852.                             1852.         o
Jan. 1 To Ba (unpaid)    3     1,9   Jan. 6 By Mdse.       I 1,900
___.~ _______                          _  ~                 9
Dr.                       Elihu Barnes.                      Cr.
1852.                              1852.1852.
an. 31 To Ba. (due him) 3    547 50 Jan. 8 By Mdse.        1   297 50
2    250' 0C
4" 22 "    "6     7    2   25000
------ — I~~~ 5~~~~~547.50
547 50                             547 50
Dr.                  Thomas Carpenter 4 Co.                  Cr.
1852.                              1852.
Jan. 12 ToMdse.         1    13875 Jan. 31 ByBal. (due me)  3  856 74
"  26 "    "           2   14800 
"  29 "    "           2   56999
856.74
8574   856 774                            856 74
Dr.                       Store Expenses.                     Cr.
1852.                              1852.
Jan. 13 To Cash         2     50 00 Jan. 31 ByProf.&Loss(loss) 3  205 00
31 "    "           2   15500
205.00                                      -  -
20500                             205 00
Dr.                     Martin Pemberton.                     Cr
1852.                              1852.
Jan. 19 To Mdse.         2   50000 Jan. 31 ByBal. (due me       50000
71




3                         LEGER, SET I.
Dr.                        Ezra Peterson.                       Cr.
1852.                   J. F.       1852.                   iJ. F.
Jan. 31 To Cash           2   32000 Jan. 23 By Mdse.          2   320 00
Dr.                    Samuel W. Fairburn.                      Cr.
1852.                               1852.
Jan. 26 To Mdse.          2   400B00 Jan. 31 By Bal. (due me)  3  400 00
Dr.                     Personal Expenses.                       Cr.
1852.                               1852.
Jan. 27 To Cash          2     60 00 Jan. 31 ByProf.&Loss (loss) 3 6000
Dr.                         Profit t' Loss.                      Cr.
1852.                               1852.
Jan. 31 To Store Expenses 2   205 00 Jan. 31 By Mdse.         1  1,202110
s   "   c "Per.         3     6000
265.00
"   "c u Stock (net gain) 1  903 7 10
1,20210                             1202'10
Dr.                          Balance.                           Cr.
1852.                               1852.
Jan. 31 To Mdse.         1  2,522 50 Jan. 31 By Bills Pay.    2  1,99000
c"  " c " Cash          1  3,079 98  c      ( " E. Barnes   2    547 50
"c "(  " ]Bills Rec.    1  1,590 38,537.50'c  cc "  P. Somers     2   340"00            Stock (net cap.) 1  6,7 56 10
I. r 2  340 00
c"  c" " T.Carpenter&Co. 2  856 74
"( I;"  " M. Pemberton  2   500100
"c  " ( " S.W. Fairburn 3   40000
9,289.60
9,28960                             { 9,289 60
72




ON POSTING.
Having journalized all the transactions recorded in the Day-Book, the next step is
to post them, i. e. transfer them from the Journal to the Leger. This process I will
endeavor to explain to you.
Look at the first entry in your Journal, "Sundries Dr. To Stock," and you will
perceive that Stock is Cr. $5,815.00, which is now to be transferred to the account of
Stock on the Leger. After opening this account thus, " DR. — STOCK — CR.," as
shown in the Leger here given, place underneath this heading, on the credit side, the
date of Journal entry, what Stock is Cr. by, the Journal folio from which the post is
made, and the amount. Having done this, you post-mark the entry; i. e. place, in the
left hand margin of the Journal, the folio of the Leger to which it is posted. This
completes the first post. Next comes the Drs. of this entry, of which Merchandise is
the first. Open an account for it thus, "DR.- MERCHANDISE  -CR.," below Stock
on the same folio, leaving enough lines intervening between the two to receive all the
posts which are to be made to the Stock account. Underneath this second heading, on
the debit side, place the date, description, Journal folio, and amount, as directed for
Stock, and lastly post-mark it in the Journal. Next take the debit to Cash: open an
account for Cash in the Leger, and post as directed for Merchandise. The whole of
the first entry in the Journal is now posted.
The second entry requires two posts, one to the debit of Cash, and one to the credit
of Merchandise, which two accounts you have already opened on the Leger. This
entry will also require two post-marks, the upper one for the debit, and the lower one
for the credit.
Proceed in this manner regularly, opening new accounts as you come to them, until
the whole Journal is posted, when you will be ready to take a Trial Balance; for an
explanation of which see the following.
TRIAL BALANCE, LEGER, SET I.
L. F.       Leger Titles.      Dr. Amount Columns. Cr. Dr. Difference Columns. Cr.
1  Stock    -    -   -    -               5,815 00              5,815 00
1  Merchandise     -    -      8,15375    6,83335    1,32040
1  Cash     -                  4,79623    1,716 25   3,079 98
1  Bills Receivable -   -      1,94038      35000    1,590 38
2  Philip Somers -   -    -      996'25     65625      34000
2  Bills Payable   -    -                 1,99000               1,990 00
2  Elihu Barnes -     -   -                 547 50               547 50
2  Thomas Carpenter & Co.        856'74                856 74
2  Store Expenses     -   -      205 00                205 00
2  Martin Pemberton     -        50000                500 00
3  Samuel W. Fairburn     -      400 00                400 00
3  Personal Expenses    -         60                    60 00
17,908 35  17,908 35   8,35250   8,35250
The Trial Balance of the Leger is made when the Journal is all posted to it, to
ascertain whether equal amounts of debits and credits have been posted, or if the whole
Leger balances.
It is made in the following manner:-First, add up the debit and credit side of each
account in the Leger, and place their amounts to the left of the dollar column, with a
pencil, as shown by the small figures in the Leger given. Then, having headed the Trial
Balance, write down in it the titles of the several Leger accounts, commencing with
Stock; and place opposite each title, in the amount columns, the debit and credit footings, as set down with a pencil in the Leger: also, place in the difference columns the
K                         73




TRIAL BALANCE (continued).
differences between these debit and credit footings. Accounts that balance in the Leger
need not be brought in. The left hand marginal column is for the Leger folio.
Add up the several columns of the Trial Balance. Now, since for every debit made
upon the Leger there has been an equal amount of credit, and for every credit an equal
amount of debit; and since the amount columns of the Trial Balance embrace every
debit and credit upon the Leger, (except those accounts whose debits and credits are
equal;) therefore, the debit and credit totals of these amount columns must be equal.
And, if the totals of the amount columns are equal, then the totals of the difference
columns must also be equal. If this equilibrium does not exist, there is an error, which
must be sought.*
A Trial Balance may be taken with the amount columns only, or with the difference
columns only. The latter is the usual mode in business; and, in subsequent Trial
Balances in this work, the differences of the Leger accounts will only be used. In a
real business, the Trial Balance may be taken monthly, and should be taken as often
as once in three months, even though the books are closed but once a year.
You will next find use for the Inventory.
INVENTORY-BOOK, OR ACCOUNT-STOCK-BOOK, SET I.
Inventory of Merchandise remaining unsold Jan. 31, 1852:
100 yds. Blk. Fr. Cloths,   @ $4.                          400 00
20 "   Ass'd"    do.       @ $3.                           60 00
100 "   Eng. Blue do.       @ $3.25                        325 00
560 "   Blk. Eng. Cassimeres, @ $1.50                      840 00
400 "   Ass'd "     do.     @ $1.50                        600 00
238"      " Fr.     do.     @ $1.25                        297 50
2,522 50
This is a small book used to take down the Inventory of goods remaining unsold at
any time, generally called by merchants "taking an account of stock,"-stock, as here
used, meaning goods on hand, and not your own name in business, as it does in the
Journal and Leger. This Inventory, or account of stock, is taken by actual observation and estimate of the goods or other property remaining on hand, either at cost
price or at the estimated value; and is usually made out once a year, as most houses
close their books yearly; but houses that close their books semi-yearly, must take an
account of stock once in six months, as the property on hand is always made use of in
closing the Leger.
In this set, if you will go over the Day-Book, carefully selecting the goods of each
kind bought, adding them to those of the same kind on hand at commencing business,
and deducting therefrom those of the same kind sold, you will find whether the Inventory
here given is correct. This test of correctness would not generally be practicable in
business, owing to the diversity and number of items bought and sold.
Having thus described how the Inventory is taken, I will now explain what use is
made of it in closing the Leger.
ON CLOSING THE LEGER.
Preparatory Steps. After making a Trial Balance, open a Profit and Loss account,
(unless previously opened,) and a Balance account. Next bring in the property on
hand, i. e. place to the credit of each speculatingt property account, in the Leger, the
amount of property belonging to that account, as shown by the Inventory-Book. Enter
this in red ink, giving the date on which you close, and saying "By Balance (Inv't.),"
* For manner of detecting and correcting errors, see page 111.
t Each account representing any species of property which you buy and sell to speculate upon-as Mdse. or Real Estate.
74




ON CLOSING THE LEGER (continued).
to show that it is to be transferred to the Balance account; and make the opposite
entry immediately on the debit side of Balance account, in black ink, saying "To
Mdse.," or "To" whatever property account you have just made the red ink entry.
In the column usually occupied by Journal folios, place the Leger folio of the account
indicated by the entry.
This entry of the property unsold is sometimes made through the Day-Book and
Journal, but considering this useless labor, I have adopted the shorter and simpler
method of placing it directly upon the Leger.
All speculating property accounts must have the balances of property unsold credited
to them in this manner, before they are closed. In this set there is only one such
account-Merchandise; and the whole of the goods unsold must be credited to it.
The Leger is now ready for closing. Leave Stock open for the present. Commence
at the first account after Stock, and close each account which shows a gain or loss into
Profit and Loss, and each account which shows a balance that will add either to your
assets or liabilities into Balance.  It will suffice my present purpose to state, in
short, that Merchandise, Bank Stock, and all other speculating property accountsPremium, Interest, and Discount-Personal Expenses-Store Expenses, and all similar
accounts, show gains and losses, and are closed into Profit and Loss: while CashBills Receivable-Bills Payable-Bank-accounts with individuals, and the like, show
assets and liabilities, and are closed into Balance.
To close an account, find the difference between the debit and credit side of it by
subtraction, and enter this difference on the smaller side of said account in red ink,
saying "To" or "By" that account into which you wish to close it; and then enter
the same amount in black ink on the opposite side of the account into which you close
it, saying " To" or " By" the account you are closing. Then rule the account with red
ink, and add it up with black ink, after the pattern given you, and the closure is complete.
Make all closing and transfer entries and all rulings in the Leger in red ink. Italics
in the Legers given in this work indicate red ink. Continue thus to close the accounts
successively, until only Stock, Profit and Loss, and Balance remain open.
In order to prove that your work thus far has been done correctly, you may now
take another test, which I shall call a Second Trial Balance.
SECOND TRIAL BALANCE, LEGER, SET I.
L. F.       Leger Titles.      Dr. Amount Columns. Cr.  Dr. Difference Columns. Cr.. Stock     -   -    -    -               5,815 00              5,815 00
3  Profit & Loss   -    -        265 00   1,20210                 93710
3  Balance -              -    9,289 60   2,537 50   6,752 10
9,554160  9,554160   6,75210    6,75210
This Second Trial Balance, as you see, consists of the three accounts now open, and
its debit and credit totals must be equal, since, throughout the closure of the Leger,
every debit has had its credit, and every credit its debit.
In real business, neither the Balance account is used, nor the Second Trial Balance,
as here shown. But of this you will be informed in Set IV.
Finally.-After proving your work thus far, close Profit and Loss into Stock, thus
transferring your net gains or losses in business to the account which is your own
representative. The difference between the two sides of the Stock account will now
show your net capital or your net insolvency, which you must close into Balance,
making the last entry in Balance account also in red ink, as it becomes the closing
entry to that account. This completes the closing of the Leger.
75




STATEMENTS, SET I.
If you have carefully considered what is embraced in the foregoing pages, you will
have acquired, I think, a pretty clear idea of the business represented in Set I; but, to
make it still plainer, and also to give you more general ideas of what is embodied in the
Leger, I will now show you some abstracts from it, in the form of statements, (worded
as if drawn off by yourself from your own Leger,) by which your capital at commencing
business, your gains during business, and your net capital at closing, will be clearly
represented.
Statement 1st, showing Net Gains.
I have gained, as shown on the credit side of Profit ~ Loss account,
By trading in Merchandise  -    -- $1,202.10
I have lost, as shown on the debit side of Profit $ Loss account,
By payment of Store Expenses     -                     $ -  205.00'L"  "'    " Personal do.       -                        60.00
Deduct total losses  -    -    -    -    -    -      265.00
My net gains in the business are         - -  -  -   937.10
Which is the excess of credit in Profit & Loss account.
Statement 2d, showing Net Capital at closing.
My available means, called "Resources," or "Assets," are shown upon the
debit side of Balance account, and consist of
Merchandise remaining unsold to the am't of -  -- $2,522.50
Cash on hand  -    -    -    -    -    -    -    -    -    -     3,079.98
Bills Receivable, or other persons' Notes held by me  -  -    - 1,590.38
The indebtedness of P. Somers -   -    -    --             -      340.00,"      "       " T. Carpenter & Co.     -    --             -   856.74
4   rC     (" M. Pemberton   -    -    -    -    -    -      500.00
54     Cr      4" S. W. Fairburn   -    -                    -   400.00
Total resources or assets  -   -    -    -    -   $9,289.60
My indebtedness, called "Liabilities," is shown upon the credit
side of Balance account, and consists of
Bills Payable, outstanding against me  -  -    -    - $1,990.00
Amount due E. Barnes     -    -    -    -    -    -     547.50
Deduct total liabilities    -              -    - 2,537.50
My net capital, or present worth, is                       -   $6,752.10
Which is the excess of debit in the Balance account.
Statement 3d, proving Statements 1st and 2d.
The amount of Effects invested by me at the commencement of business as
shown by the credit side of Stock account, is - -  -              - $5,815.00
The net gains, shown on credit side of Stock, and by Statement 1st, are  937.10
Thus, the net capital or present worth (as by Statement 2d) is -  - $6,752.10
Which is seen also in Stock account.
NOTE.-If any additional investment had been made by you during the business, it would find its place also upon the credit side of
Stock account.
The debit side of Stock account contains the amount of your indebtedness at commencing, any sums withdrawn by you during the
business, and your net losses in business: but, in Set I, nothing has occurred requiring a del4t to it.
76




STATEMENTS (continued).
Therefore:In a gaining business, commencing with net capital,
To find your present worth, or net capital at closing:
1st. Add the net gains in business to the net capital at starting.
2d. Deduct the total liabilities from the total assets.
To find your net gains in business:
1st. Deduct the total losses from the total gains.
2d. Deduct the net capital at starting from the present worth.
QUESTIONS FOR REVIEW, SET I.
The following questions are intended as a review of all that has been written thus far on Double
Entry. Answers to all questions asked can be found on some of the foregoing pages, and teachers
will do well to require their pupils to search them out and learn them.
What is Book-Keeping by Double Entry?   How does Double Entry Book-Keeping differ from
Single Entry?
What do accounts with persons represent?
What do accounts with the different species of property represent?
What do accounts with the various branches of your gains and losses represent?
What is the distinguishing feature of Double Entry?
Is an equilibrium in the number of debits and credits required?  What then?
Why is the old Italian method of Book-Keeping adopted in the first three Sets of Double Entry?
What are the main books of entry in the Italian method?
Define debtor. Define creditor.
In what have transactions or trades their foundations?
Repeat the general rule for journalizing transactions. Repeat it briefly.
Does this rule apply for determining the opening Journal entry of individual books?
Does it apply to the opening entry of partnership books?
What is each Set intended to represent?
Why should particular attention be paid to the opening and closing of each?
What is the continuance of each Set for one month intended to represent?
How often are books closed in a majority of houses?
Describe the Day-Book in the Italian method of Book-Keeping.
For what is the Journal used? Why is this done?
Describe the Journal given with this Set. In making entries therein, how do you distinguish
between debtors and creditors?
What may the Leger be styled? What is its principal use?
Of what is "By" the prefix?  On which side of an account is it generally placed?
Of what is" To" the prefix?  On which side of an account is it generally placed?
Define Bills Receivable. Define Bills Payable. When are notes said to be negotiable?
What name is given to an individual in business by himself? What are his books called?
Explain the opening of the Journal for Stock books.
What would you debit, and what credit in journalizing each of the following transactions, and for
what reasons?
1st, Sale of Mdse. for cash.-2d, Sale of Mdse. for another person's note.-3d, Sale of Mdse,
on account.-4th, Purchase of Mdse. for cash.-5th, Purchase of Mdse. for your own note.6th, Purchase of Mdse. on account.-7th, Sale of Mdse. for cash and another person's note.8th, Sale of Mdse. for cash and on account.-9th, Payment of expenses for the store in cash.10th, Sale of Mdse. for another person's note and on account.-llth, Purchase of Mdse. for
another person's note and on account.-12th, Purchase of Mdse. for cash and on account.13th, Receipt of cash on account.-14th, Sale of Mdse. for another person's order on you, for
cash and on account.-15th, Payment of cash for personal expenses.-16th, Sale of Mdse. for
cash, for another person's note and on account.-17th, Payment of an account in cash.-18th,
Payment of rent. clerk hire and gas bill in cash.
f,~                He7




QUESTIONS FOR REVIEW (continued).
What is the next thing to be done after journalizing? What is meant by posting?
What is meant by post-marking? How do you post-mark when there is both a debit and a credit
on the same line in the Journal?
What test of the Leger is taken when the posting is completed?
Describe the process of taking a Trial Balance, and its use.
Is it usual in business to take it with the difference columns only? How often is it taken?
What is the Inventory-Book? How is the Inventory or Account of Stock taken?
What accounts do you open preparatory to closing the Leger?
What is the next step after opening these accounts?
What class of accounts have the balances of property unsold credited to them?
Define speculating property accounts?
In commencing to close the Leger, what account do you leave open?
What class of accounts are closed into Profit & Loss? What class into Balance?
In closing the Leger, is the first entry made in the account you are closing, or in the account into
which you are closing it?
On which side of the account and in what colored ink?
Where is the opposite entry made, and in what colored ink?
In what cases is red ink used in the Leger? How indicated in this work?
When is the Second Trial Balance taken, and of what accounts does it consist?
Is the Second Trial Balance used in a real business?
Which is the first account closed after the taking of the Second Trial Balance?
After the Profit & Loss account has been closed into Stock, what does the difference between the
two sides of the Stock account show, and how is it closed?
In what account, and on which side, do you ascertain your gains in business?
In what account, and on which side, do you ascertain your losses in business?
What is shown by deducting total losses from total gains? How is this shown in the Profit &
Loss account?
What are your available means at closing styled, and where are they found?
What is your indebtedness at closing styled, and where is it found?
What is shown by deducting total liabilities from total assets? How is this shown in the Balance
account?
Where do you find the amount of your effects invested?
Where do you find the amount of your indebtedness at commencing (if any)?
On which side of Stock account are your net gains shown? On which side your net losses?
What is shown by adding the net gains in business to the effects invested at commencing?
Where is this seen?
What are your total gains in Set I?* Total losses? Net gains?
What are your total resources or assets at closing Set I? Total liabilities?
What is your net capital or present worth?
What is the amount of your effects invested added to your net gains?
Ia a gaining business, commencing with net capital, by what two methods can you ascertain your
present worth? By what two methods, your net gains?
* The pupil may have his Leger before him in answering this and the following questions.
78




SET II, DOUBLE ENTRY.
You can write up this Set in the blank books which accompany this treatise. You
will perceive that no Journal or Leger is here given, because I wish you now to rely
upon your own reasoning powers, aided by such elucidations as are necessary, for applying the principles already learned.
Copy the Day-Book; then journalize it, referring to the elucidations of the different
entries for any suggestions required.  Having journalized, post from your Journal into
the Leger, and take a Trial Balance, which, if correct, will agree in every respect with
the one given on page 83. If it does not agree, there is an error, which must be sought
and corrected, after the manner described on page 111. When the Trial Balance is
right, proceed to close the Leger in the same manner as described for Set I, taking a
second Trial Balance when you come to it, as a test of the closures thus far.
You can make out, from your Leger, statements of the net gains and net capital at
closing, and compare them with the statements on pages 83 and 84, which will be a stil
further check upon the correctness of your work.
Set I was a gaining business, and closed with net capital; but this is a losing business,
and closes with net insolvency. By comparing carefully the two Sets, and the statements drawn from them, you will acquire clear and definite ideas of both prosperous and
adverse business.
NOTE.-The Key is designed solely for the teacher, and the scholar should in no case be permitted to use it; or if at all, merely to
compare his books after the teacher has pronounced them correct. He should hunt his own mistakes, as this is most excellent practiw
for him.
79




DAY-BOOK, SET I1.
Philadelphia, February 2d, 1852.
/   I commence Business with the following Effects:
Cash on hand                                     1,125.00
Merchandise, amounting pr. Invoice, to           6,250.00
50 Shares Reading Rail-Road Stock @ $25 (Par value $50.) 1,250.00
Sundry Notes which I hold against others         2,875.00
Joseph B. Lownes owes me on %                     200.00
V. C. Burrell & Co. owe"  " "                      341.50 12,04150
/   I owe as follows:
On Notes held by sundry persons against me       7,000.00
To Charles T. Mayland on %                        500.00
"Burgess & Pinkerton " "                        1,240.56
" Levi Williams & Co. " "                         960.44
" Evans, Peters & Co. " "                       1,150.50  10,8515u
Making my Net Capital $1,190.
2d
/   Insured Mdse. in the American Fire Ins. Co. to the Am't of $6,000,
@ 12% Prem., for which I have paid Cash                       9000
V   Sold to V. C. Burrell & Co., @ 6 mos.,
5 Cases, 60 Prs. Men's Stout   Boots @ $1.75       105.00
2   "   24  "    "   Kip         "   "   2.00       48.00
2   "   24 4"    "   Calf Pegged"    "   2.50       60.00
1   "   12 "     "     "  Sewed "    "   3.50       42.00    255 00
________________ 3d
V   Sold to Walter Stockton & Co.
3 Cases, 180 Prs. Boys' Stout Brogans @ 75'        135.00
2   "   120  "    "   Kip     "     " 80            96.00
2   "   120  "  Men's Goat Nullifiers " 80          96.00
2   "   24   "    "   Stitched Boots " $6          144.00    47100
Rec'd. in Payment
My Note, Philip Beldon's favor, now due, for       320.00
Cash for Balance                                   151.00
4th
v/ Accepted Burgess & Pinkerton's Draft on me, @ 30 days' sight, favor
Wm. G. Ashton, for                                           675 00
7th
/ Bought of Charles T. Mayland,
Mdse., amounting pr. Invoice, to                           2,000 00
Paid in part by my Draft on Joseph B. Lownes ( sight    200.00
Remainder Bo't. @ 6 mos. credit                  1,800.00
80




DAY-BOOK, SET II.                                     2
Philadelphia, February 9tl, 1852.
/   Paid in Cash my Note, Myers, Claghorn & Co.'s favor, Am't          600 00
12th
/   Exchanged Notes with Isaac McGrath, each drawn @ 30 days, for
his Accommodation                                           1,200 00
14th
/ Bailey & Davis, whose Note I hold for $750.36, have failed, and
compounded with their Creditors for 70  on the dollar, ~ to be
paid in Cash and X in Goods.
Rec'd in Cash                                           262.62
Mdse., as pr. Invoice, amounting to                262.63
Lost the Balance                                   225.11    750 36
16th
/   Sold to Allen Thompson
50 Prs. Children's Calf Brogans @ 372'                         1875
18th
V/  Bought of Manly & Co. Mdse., as pr. Invoice, Am't                 1,200 00
Paid in part by Note of Lyman Bellamy, my favor          425.00
Gave my Note @ 30 days, for                        400.00
Paid the Balance in Cash                           375.00
20th 
V Sold to Thomas Stotesbury & Co.
5 Cases, 300 Prs. Men's  Stout Brogans  @ $1.10    330.00
5   "   300 "      "    Kip     "       "  1.00    300.00
4   "   240 " Women's "      Lace Boots ".60    144.00
2   "   120 "     "     Calf    "       ".90    108.00    88200
Rec'd their Note @ 4 mos. for                 441.00
Cash for Balance                         441.00    882.00
21st ---
V   Discounted my Acceptance of the 4th Inst. @ 30 days, favor of Wm.
G. Ashton, Am't                                              67500
Paid in Cash                                            673.20
Discount on $675, for 16 days, is                    1.80
28th
/   On the Night of the 22d Inst., my Stock of Goods (with the Store)
were almost entirely consumed by Fire.
The small portion recovered was yesterday sold at Auction for Cash,
netting, after payment of Auctioneer, Drayman, &c.           320150
/Rec'd in Cash of the American Fire Ins. Co. the Am't for which
I was Insured on my Stock of Goods                          6.00000.L                       81




ELUCIDATIONS FOR JOURNALIZING DAY-BOOK, SET II.
February 2d
This Entry of your effects invested must be commenced in your Journal, " Sundries Dr. To Stock," the
same as the opening entry to Set I; and then the different species of property must be debited for the
value which you intrust to each, and the different persons for the amount each owes you. Stock (yourself)
is Cr. for the whole amount of your investment.
In entering in your Journal this record of your debts at starting, commence it thus: "Stock Dr. To
Sundries," extending into the debit column the whole amount of your indebtedness, to show that Stock
(yourself) is Dr. for this amount, at commencing business. Then credit Bills Payable for the Am't of notes
outstanding against you, and credit the different persons for the sums due each. See remarks on opening
the Journal, page 65.
2d
Mdse. is Dr. for the cost of insuring the goods.
Cash is Cr. for producing the means (value) to pay the Insurance.,W     Commit to memory the general rule for journalizing, page 62, and apply it constantly.
V. C. Burrell & Co. have cost you value in the goods which you have furnished them, without immediate
remuneration-and must be debited. Mdse. has produced value in the indebtedness of V. C. Burrell & Co.
-and must be credited.
3d
Bills Payable and Cash have cost value in Mdse. Mdse. has produced value in your note and the money
received. This is one of the notes which were outstanding against you at the commencement of business.
It is supposed to have passed from the hands of Philip Beldon to Walter Stockton & Co., and now, coming
due, is offered by them in payment for the Mdse.
4th
For definition of Draft and Acceptance, see the Vocabulary, page 9. Your accepting a draft makes it a
Bill Payable, and it is the same to you as taking up the draft by giving your promissory note for it: while
it is better to the party holding it, as it binds the drawer to payment in case you should fail. Whenever
you pay a draft on yourself, either by acceptance or in any other way, the drawer must be debited, because
value goes out of your possession, at his request and for his benefit.
In this case, Burgess & Pinkerton cost value in Bills Payable.
7th
Mdse. costs value, and is Dr.-J. B. Lownes produces value by permitting you to draw upon him in pay
ment for a portion of the goods bought; and C. T. Mayland produces value by furnishing part of them
without immediate payment.
Whenever you draw a draft on another person, that person must be credited, as he produces you value
by paying the draft.
9th
Another note, issued by you prior to the commencement of this business, falls due and is paid.
Bills Payable costs value in Cash.
12th
Bills Receivable costs value in my note issued.
Bills Payable produces value in McGrath's note obtained.
----------------------            14th
Bills Receivable has produced value only to the amount of the Cash and Mdse. received; but it must be
credited the full amount of the note, $750.36, in order that the difference of the Bills Receivable account on
the Leger may at all times agree with the amount of notes on hand unpaid. Cash is Dr. for what it has
cost, $262.62-Mdse. is Dr. for what it has cost, $262.63-and Profit - Loss, which is the receptacle of
all your gains and losses, must be debited for the balance, $225.11, in order to transfer the loss to that
account. This debit to Profit & Loss, and credit to Bills Receivable of $225.11, is not explained on the
principle of debiting what costs value, and crediting what produces value, but it is merely a transfer entry,
to carry the loss into its proper account, instead of permitting it to remain in Bills Receivable.
16th
Mdse. has produced value in the indebtedness of Allen Thompson.
18th
Lyman Bellamy's note is one of those you held against others at commencing business.
Mdse. has cost value-Sundries have produced value.
N. B.-It is proper in recording purchases in the Day-Book to say "as pr. Invoice," and omit the items,
since your invoice is preserved on file. But in entering sales, the articles should always be specified in
detail.
20th
Sundries have cost value in Mdse., and Mdse. has produced value.
82




ELUCIDATIONS (continued).... ___  ~~-  __ ___February  21st
A draft which has been accepted by you is styled your "Acceptance"-another name for it inQtead of note.
I)isccunting a note means paying it before due, for the sake of the discount.
Bills Payable (your acceptance) has here cost value.
Sundries, viz. Cash and Discount, have produced value.
__ —-----------------   28th
Cash costs value in Mdse.
Mdse. produces value in Cash.
Insurance offices do not generally pay as promptly as here shown: they have usually a proviso in their
agreements, allowing from 30 to 60 days' time for payment of losses incurred.
TRIAL BALANCE, LEGER, SET II.         Dr.    Cr.
L.F.
1 Stock -    -   -       -   -   -                       1,190 00
1 Cash..-                  -     -.   6,561 92
1 Merchandise-  -  -       -.                    1,855 38
1 Reading Rail-Road Stock -  -  -  -  -  -       1,250 00
1 Bills Receivable     -     -     -  -   -   -  3,340 64
2 V. C. Burrell & Co. -  -  -  -  -  -   -   -     596 50
2 Bills Payable  -  -  -     -   -   -   -               7,680 00
2 Charles T. Mayland -  -  -  -  -                       2,300 00
2 Burgess & Pinkerton  -  - -  --                          565 56
2 Levi Williams & Co. -  -  -                              960 44
3 Evans, Peters & Co.  -  -  -  -  -                     1,150 50
3 Profit & Loss - -  -   -   -   -   -   -   -     22511
3 Allen Thompson - -   -   -   -   --               18 75
3 Discount - -   -   -   -   -   -   -   -   -              1 80
13,848130 13,84830
INVENTORY-BOOK, SET IT.
There remains on hand unsold, Feb. 28th, 1852:
50 Shares Reading Rail-Road Stock, which is now selling @ $22 pr.
Share-  -   --                                    1,100 00
SECOND TRIAL BALANCE, LEGER, SET II. Dr            Cr.
L. F.
Stock  -   -   -  -   -   -   -   -   -   -              1,19000
3 Profit & Loss -  -                             2,228 69
3 Balance  -                   -                __1,038 69
2,22869 2,22869
STATEMENTS, SET II.
STATEMENT 1ST, SHOWING NET LOSSES.
Losses.                           Gains.
Bills Rec., 0O % of B. & D.'s note  225 11 Discount on note paid before due  1 80
Mdse., lost by fire more than gains  1,855 38
Reading R.-R. Stock, depreciation  150 00
Total losses     2,230 49
Deduct gains        1 80
My net losses are       2,228 69 
83




STATEMENTS, SET II (continued).
STATEMENT 2D, SHOWING NET INSOLVENCY AT CLOSING.
Resources, or Assets.                           Liabilities.
Reading R.-R. Stock, Am't unsold     1,100 00 Bills Pay., held by others         7,680 00
Cash on hand                         6,561 92 C. T. Mayland,  Bal. I owe         2,300 00
Bills Rec., held by me               3,340 64 Burgess & Pinkerton,  " "           565156
V. C. Burrell & Co., Bal. due me      696 50 L. Williams & Co.  " "               960444
A. Thompson,      "   i "              18 75 Evans, Peters & Co. " " "           1,15050
Total assets         11,617 81              Total liabilities    12,656'50
Deduct assets        11,617|81
My net insolvency is           1,038 69
STATEMENT 3D, PROVING STATEMENTS 1ST AND 2D.
My debts at starting were           10,851 50 My net capital at starting was     1,190O00
Add net losses (Statement 1st)       2,228 69 Add net insolvency (Statement 2d)  1,038 69
13,080 19 Gives net losses (Statement 1st)   2,228 69
Deduct effects invested at starting  12,041 50
Gives my net insolvency (Statement 2d)  1,038 69
Therefore:In a business commencing with net capital and closing with net insolvency,
To find your Net Insolvency:
1st, Deduct the net capital at starting from the net losses in business.
2d, Deduct the total assets from the total liabilities.
To find your Net Losses in Business:
1st, Deduct the total gains from the total losses.
2d, Add the present net insolvency to the net capital at starting.
QUESTIONS FOR REVIEW, SET II.
With what must the Trial Balance of your Leger agree, to show that you have journalized and
posted this Set correctly?
Wherein does the business represented in this Set, differ from that in Set I?
What should be debited and what credited in the following transactions, and why?
1st, Cash paid for insuring Mdse.-2d, Mdse. sold on account.-3d, Mdse. sold for your
note outstanding and for cash.-4th, Accepting another person's draft on you.-5th, Buying
Mdse. with your draft on another person, and on account.-6th, Taking up your note by paying cash for it.-7th, Exchanging notes with another person.-8th, Failure of a party whose
note you hold, payment of part in cash, part in Mdse., and balance lost.-9th, Sale of Mdse. on
account.-10th, Purchase of Mdse: for another person's note held by you, your own note, and
cash.-llth, Sale of Mdse. for another person's note and for cash.-12th, Discounting your
own note.-13th, Sale of Mdse. for cash.-14th, Receipt of cash from an Insurance Co. for
Mdse. destroyed by fire.
What are the total losses in Set II? The total gains?
What are the net losses? How ascertained?
What are the total assets? Total liabilities?
What is the net insolvency? How ascertained?
What is the amount of your debts at starting, added to your net losses?
What remains after deducting from this amount your effects invested?
How much was your net capital at starting?
What is found by adding to this your net insolvency?
By what two methods can you ascertain your net insolvency in this Set?
By what two methods can you ascertain your net losses in this Set?
84




SET III, DOUBLE ENTRY.
IN this Set you are supposed to have made a satisfactory arrangement with your
creditors, so as to resume and continue your business, which was summarily ended in
the last Set, by your stock of goods being consumed by fire.
86




DAY-BOOK, SET III.
Philadelphia, March Ist, 1852.
I have the following Effects on resuming business.
Cash on hand                                     6,561.92
Sundry Notes of other persons, my favor          3,340.64
50 Shares Reading Rail-Road Stock, @ $22         1,100.00
V. C. Burrell & Co. owe me on %                   596.50
Allen Thompson owes     " " "                       18.75  11,61781
I owe on sundry Notes outstanding, favor of others     7,680.00
To Charles T. Mayland on%                        2,300.00
"Burgess & Pinkerton " "                         565.56
" Levi Williams & Co. ""                         960.44
"Evans, Peters & Co. " "                        1,150.50  12,656 50
1st
Bought a new set of %c Books, of Murphy & Co., for Cash             20 00
2d
Bought of Charles T. Mayland Mdse., as pr. Invoice, Am't          3,000 00
Paid him in part by Note of Root, Warden & Co., my favor 1,699.64
Cash for the Balance                             1,300.36
Bought of Burgess & Pinkerton, on %, ( 3 mos.
Mdse. as pr. Invoice, Am't                                  2,516 00
3d
Sold to Allen Thompson,
6 Cases, 360 Prs. Women's Calf Lace-Boots, @ $1               360'00
5th
Paid Levi Williams & Co., Cash, in full of %                       960 44
8th
Sold to Bent, Foster & Lewis,
10 Cases, 120 Prs. Men's Stout Boots,  @   $2.00   240.00
2   "    120 <"    "    Lasting Gaiters, "   1.75  210.00
6   "    360  " Youth's Stout Brogans ".622 225.00
8   "    480 ("     "   Kip     "      ".50  240.00
3   "    180  " Children's Calf "      ".372  67.50     982 50
Rec'd their Notes, one @ 30 days for            327.50
"  " 60   "   "               327.50
c"  " 90  "   "               327.50  982.50
10th -
Sold to Blackman & Packard, for Cash,
2 Cases, 120 Prs. Men's Goat Nullifiers,  @ 80,     96.00
2  "    120  " Women's Grain Buskins       " 60     72.00
2  Cc   120  "     "     Lasting I Gaiters " 90    108.00
2  "    120  "     "  Col'd" "<            " 85    102.00
2  "    120 "      "     Kid Slippers R. R.  70     84.00
1  "    60   " Misses' Goat Lace Boots     " 75    45.00
1  "    60   "     "   R. R. Paris Ties    " 622   37.50     54450
86 




DAY-BOOK, SET III.                                 2
Philadelphia, March 13th, 1852.
Sold to Wilson, Fenner & Welsh,
6 Cases, 360 Prs. Women's Calf Lace Boots,  ( $1.25  450.00
3  "   180 "    "     Goat Buskins,     " 1.15  207.00
4  "   240 "    "     Lasting Gaiter-Boots," 1.25  300.00
4  "   240 "    "    Kid Slippers R. R. ".90  216.00  1,173 00
Rec'd in payment my Note of 19th ult., @ 30 days, favor
of Manly & Co.                      400.00
Cash for Bal., including Discount     773.60   1,173.60
The Discount on my Note, $400, for 9 days, am'ts to                 60
16th
My Note, favor Isaac McGrath, dated 12th ult., ( 30 days, coming
due this day, has been taken up by him, and returned to me,
for which I have given him his Note, my favor, of same tenor
and date                                               1,200 00
22d
Bought of Myers, Claghorn & Co., at auction, for Cash,
Mdse., amounting, pr. Invoice, to                        1,522 36
24th
Reading Rail-Road Stock having suddenly risen, I have had my 50
Shares sold by a Stock-Broker,, $30 pr. Share 1,500.00
Rec'd the Cash, less his Com., @  %on $1,500.00, for selling  7.50  1,492 50
27th
Thomas Stotesbury & Co. have discounted their Note of the
21st ult., (  4 mos., my favor, for                      441 00
Rec'd in Cash                                         434.53
Discount on $441, for 88 days, is                 6.47
30th
Sold to Wm. F. Godwin, for his Note @ 3 mos.,
10 Cases, 120 Prs. Men's Calf Stitched Boots, @ $5.25  630.00
5   "    60     " "    " Sewed      "   " 3.50  210.00     84000
31st
Rec'd from the Executors of my Aunt Mrs. Whiteman's Estate, Cash
in full of her Bequest to me.                            500 00
No Ins. has been effected in this Set, because it was not deemed advisable to occupy space with the entry.
Many other entries, which, in a real business, would occur, such as paying Rent of Store, &c., have been
omitted, in this and the other Sets, for a like reason.
87




ELUCIDATIONS FOR JOURNALIZING DAY-BOOK, SET III.
~~~~~~~~._ —---------           March 1st
The opening entries are so nearly like those of Set II, that I think you will need no additional explana
tion of them.
The old books having been badly damaged by fire, you have closed them up, and purchased a new set
for use in the Counting-house.
Store Expenses have cost value. Cash has produced value.
2d
Mdse. costs value in Sundries.
Sundries-viz., Bills Receivable and Cash-produce value by paying for the goods.
Mdse. costs you value.
Burgess & Pinkerton produce you value by furnishing the goods without payment.
3d
A. Thompson has received value of you to the amount of goods you furnish him-in other words, has
cost you value-and is Dr.
Mdse. has produced value in his indebtedness.
5th
Levi Williams & Co. have received value from you in Cash.
Cash has produced value by paying their account.
8th
Bills Receivable costs value in Mdse. Mdse. produces value.
10th
Cash costs value in Mdse.
13th
Bills Payable and Cash have cost value, and Mdse. and Discount have produced value.
As this is the first case in which sundry debtors and sundry creditors occur in the same entry, I will
journalize it, to show you the form.
Sundries              Dr.              To Sundries.                      40    I
2  Bills Payable  -.400 00
1  Cash                                                                     77360        00
8        To Merchandise                                                             1,173 00
3        " Discount ---                                                                  60
In posting this transaction, the entries in the Leger should be "To Sundries," and "By Sundries;" and
neither a post nor a post-mark is required to the word " Sundries."
16th
On the 12th ult. you exchanged notes with Isaac McGrath for his accommodation, because he could use
your note, with his endorsement on it, better than he could his own note. He made use of your note, and
when it came due to-day, paid it, and now returns it to you and receives his note, which he had given you
as security.
Bills Payable has cost you value. Bills Receivable has produced you value.
22d
Mdse. has cost value in Cash.
24th
Cash has cost value in Reading R.-R. Stock. Reading R.-R. Stock has produced value.
NoTE.-Stock-Brokers in Philadelphia and some other cities charge commission on the nominal par value of the Stock sold, which, in
the Reading R.-R. Stock, is $50 pr. Share, making, in this transaction, $2,500 on which to reckon commission; but as this is a local
arrangement, I have preferred to estimate commission only on the real price of sale.
27th
Cash and Discount have cost value.
Bills Receivable has produced value.
30th
Bills Receivable has cost value in Mdse.
31st
This Cash forms a new investment, and must be credited to Stock, the same as effects invested at the commencement of business. The general rule for transactions does not here apply, Cash having been received
without value having been given for it.
88




TRIAL BALANCE, LEGER, SET III.
DR.   CR.
L.F
1.F   -   -  -  -   -  -  -   -  -  -   -   538 69
1 Stock....    53869
1  Cash  -  -  -  --        -  -   -  -   6,50389
1  Bills Receivable  -  -  -  -  -  -  -  -  1,822 50
1  Reading Rail-Road Stock  - - - - - - -         392 50
1  V. C. Burrell & Co.  -  - - - --     -  596 50
2  Allen Thompson  - - - -  -  -   -  -    378 75
2  Bills Payable  - - - - -   -  -  -   -        6,080 00
2  Charles T. Mayland -  - --   -,3000
2  Burgess & Pinkerton  - - - - - - -   -        3,081156
2  Evans, Peters & Co. -  -  -  -  -  -  -  -    1,150 50
3  Store Expenses  -  -  -              -   20 00
3  Merchandise  - - - -  -  -  --         3,13836
3  Discount  -              -  -    -        5 87
13,00456 13,00456
INVENTORY-BOOK, SET III.
There remains on hand, unsold, Mar. 31st, 1852, Merchandise amounting
to*  -  -  -  -  -  -   -  -  -   -  -  -  3,918151
STATEMENTS, SET III.
The total gains accruing from this business are  -  -  -  -  -   - $1,172.65
" "  losses  "   "  "   "  -  -  -   -  -  -   -    25.87
Making the net gains  - - - - -  - $1,146.78
ihe total assets at closing the books are  - - - - - -  $13,220.15
"  "  liabilities  "  "   -   -  -  -   -   12,612.06
Making the net capital, or present worth -  $608.09
I commenced business with a net insolvency of  -   -   -   -  -  - $1,038.69
From which deduct the bequest of my Aunt Whiteman  -----  500.00
Debit balance of Stock account -  - - -  $538.69
I have gained sufficiently to cover this indebtedness, and to have a net capital now of  608.09
Making the net gains, as above  -  -  -  -  $1,146.78
My net gains in business have been  -- $1,146.78
The debit balance of Stock account is  - - - - - -  538.69
Making the net capital, as above-  -  -  $608.09
Therefore: In a business like the present,
To find your present worth:
1st. Deduct the total liabilities from the total assets.
2d. Deduct the debit balance of Stock account from the net gains in business.
To find your net gains in business:
1st. Deduct the total losses from the total gains.
2d. Add the present worth to the debit balance of Stock account.
* In a real Inventory-Book, of course all the details of the Mdse. or other property unsold would be specified, as
this is the very object of the book.
M                 89




QUESTIONS      FOR    REVIEW, SET       III.
How can you retain cash, notes and other effects in your possession, and commence a new business
therewith, as in this Set, when you are really insolvent at the outset? [See page 85.]
What would you debit, and what credit in each of the following transactions-and why?
1st. Purchase of a new set of account books for cash.-2d, Purchase of Mdse. for note of
another person, my favor, and for cash.-3d, Purchase of Mdse. on account.-4th, Sale of
Mdse. on time.-5th, Payment of cash in full of an account which you owe.-6th, Sale of
Mdse. for three notes of another person.-7th, Sale of Mdse. for cash.-8th, Sale of Mdse.
for your own note and cash, your note not being yet due, and you being allowed a discount
thereon.-9th, Receipt of your note previously exchanged with another, and relinquishment
of the other person's note held by you.-10th, Purchase of Mdse. for cash.-llth, Sale of
Reading Rail-Road stock for cash.-12, Discount by another person of his note held by you.
-13th, Sale of Mdse. for another person's note.-14th, Receipt of a bequest in cash.
What are the total gains accruing from the business in Set III?
What are the total losses? What the net gains?
What are the total assets? The total liabilities? The net capital?
What was the net insolvency at commencing?
What was the amount of Mrs. Whiteman's bequest to you?
What is the debit balance of the Stock account after deducting this bequest?
What amount do you obtain, by adding your present net capital to the debit balance of Stock
account? What is this amount called?
What balance remains after deducting the debit balance of Stock account from the net gains ip
business? and what is this balance called?
In a business like the present, what two methods are there for ascertaining the present worth?
What two methods for ascertaining the net gains?
GENERAL REMARKS.
You have now been presented with three Sets of books by Double Entry:-the first,
representing you as commencing business with a snug capital, and without any debts;
pursuing it prosperously, and thus increasing your capital. In the second, you commenced with greater means in possession, but owing debts to nearly the same amount:you were attended with misfortune, in the destruction of your goods by fire, without a
full insurance, and probably too for want of experience in the business in which you
engaged, neither bought nor sold to the best advantage; thus sustaining a large loss,
which swallowed up your net capital, and left you with about an equal insolvency. In
the third, you resumed and continued your business so summarily ended in Set II,
retaining in your hands all the means left you until such time as you are able to pay
your creditors, who are supposed to appreciate your business talents, to confide in your
integrity, and to agree to extend the time of payment. Having learned by experience
to be more cautious and skilful, you thus make sufficiently large gains to cover your
insolvency, and have a small net capital again. A bequest from your Aunt somewhat
increases this capital.
I now propose furnishing you with some examples of partnership business, both where
the partners share alike in gains and losses, (as in Set IV,) and where their shares and
interests are unequal, (as in Set V.)
I shall also now present you with another style of keeping accounts shorter than the
old Italian method, and used by houses engaged in general trading operations, shipping
business, and some other mercantile pursuits. It will at first require more thought on
your part than the preceding Sets have done, but those you are now supposed to have
mastered, and thus to be prepared for a higher step on the road to a thorough knowledge
of accounts; and no task should be thought too hard, which care and patience will
overcome, and which will lead to knowledge.
90




SEYMOUR & FITCH.
SET IV.
DAY-BOOK KEPT IN JOURNAL FORM, AND NO
JOURNAL USED.
91




EXPLANATORY REMARKS, SETS IV AND V.
THE Sets of books thus far shown in this work have all been conducted upon the old
Italian method. I now propose to show you a plan which is far more in use at the
present time, and by which much useless writing will be saved. It is to entirely dispense with the Day-Book in History form, and use instead a Day-Book in Journal form,
in which the entries are recorded in such a manner as not only to present a complete
history of the business transactions, but also to furnish debits and credits under the
proper Leger titles, ready for posting; thus rendering it useless to keep a Journal, and
doing away with the labor of journalizing. The general rule for journalizing becomes now
a general rule for determining the proper debits and credits in making original entries.
I have given a separate history of the business, as it is supposed to have occurred,
with elucidations of such transactions as seemed to require elucidating. This history
you should be careful to distinguish from the historical Day-Books, which you have
already passed over, as it is not used in actual business, and is not intended to take the
place of any book which is used; but is given solely for the purpose of exhibiting the
transactions as they would occur before you in actual commercial operations. The
postings are made direct from the Day-Book, which is the book of original entry.
I have omitted, as in the preceding Sets, the Cash-Book, Check-Book, and all other
books used merely as auxiliaries, because your mind will thus be less burdened, and you
will the better understand the primary and more important books of entry. The various
auxiiiary books are shown in connection with Set VI.
Instructions for Writing up, Set IV.
This Set represents a partnership business, in which the partners invest equal amounts
of net capital, and share equally in gains and losses. It is a prosperous business.
After examining the form of the Day-Book sufficiently to acquaint yourself with its
peculiarities, lay it aside, and turn to the history given of the business. Apply carefully the directions previously received for opening books, and the general rule for
determining what to debit and what to credit, in each case; having decided which, write
down the entry in regular Journal form, mingling therewith sufficient explanations to
convey to the mind of a stranger a clear idea of the business transaction.
Make out your Day-Book on a loose sheet of paper, and depend upon your own skill
in so doing, looking at the Day-Book given as little as possible, until you have completed
your own. You can then compare and make any necessary corrections. The next step
is to post. Then close up your Leger, make out exhibits, &c., as heretofore shown. In
posting, let the partners' accounts be the first accounts opened on the Leger. I have
omitted the Index to the Leger; but this you can make out for yourself, as you post.
In closing the Leger, you will observe no Balance account is opened; but instead
thereof, the balances (of such accounts as would be closed into it) are "brought down to
new account," in the same manner as in Single Entry. [See explanation on page 18.]
The gains or losses in any account go into Profit & Loss, as heretofore; and Profit &
Loss is closed into the accounts of the two partners, half of the net gains to each.
When the Leger is entirely closed, take your Second Trial Balance-not to be preserved,
but as a mere proof of accuracy. It will consist of all the balances brought down to
new account, and, if the Leger be correctly closed, the debit balances will be equal in
amount to the credit balances, including the partners' net capital.
Instructions for Writing up, Set V.
In this Set, there are three partners, sharing unequally in gains and losses, the capital
being invested by two of them. It is a losing business. No Day-Book or Leger is
given, but only the history and elucidations, from which you can write up your books
as explained for Set IV. First prepare your Day-Book on a sheet of paper, and, when
corrected, copy it into the blank book designed for it, and post up your Leger also in
the accompanying blank book. Draw off statements from your Leger, and compare
them with those on pages 109 and 110, with which they should agree.
Teachers will again find use for the Key.
92




HISTORY AND ELUCIDATIONS. SET IV. 
St. Louis, April 1st, 1852.
Bela N. Seymour and Albert Fitch have this day entered into partnership, for five
years, under the firm     and style of Seymour ad Fitch, for buying and selling Real
Estate, Steamboat Stocks, &c.:-the parties to invest equal amounts of net capltak,
and to share alike in gains and losses.
PB. N. Seymour's Effects invested are as follows:
Cash on deposit in the State Bank of Missouri                       5,000.00
One-Fourth of Steamboat Sultana, valued at                          6,500.00
One-Eighth of Steamboat Neptune,            "     "                 4,500.00    $16,000.00
He owes a Note, favor of Blackwell & Co., due May 18th, which the
Firm   assume,                                                                  $  7,500.00
Making his Net Capital $8,500.
Albert Fitch's Effects are
Cash on hand                                                        8,000.00
A Note in his favor, drawn by Thos. Coleman, due May 22d, 3,525.50              $11,525.50
He owes Debts which the Firm         assume, to wit:To Coffin & Waite                                                     890.00
"  Silas George & Son                                              2,135.50      $3,025.50
Making his Net Capital $8,500.
-    There are quite a number of new Leger titles introduced into this Set, and they should be carefully
considered.
In all the preceding Sets, no Bank account has been kept, and all moneys in bank have been counted as
cash, the bank being considered as merely another place for keeping money, instead of the safe, and the
account with the bank being regulated by the Bank-Book and the Check-Book, (which should always be
kept when there are any dealings with bank, and which will be hereafter explained.) This is the usual
method; but some houses prefer keeping accounts with the different banks with which they deal, in the
same manner as accounts with persons, in their Leger-debiting sums deposited therein, and crediting sums
checked out. In this Set the latter method is illustrated.
In the above transactions between the parties at commencing business, observe that1st. State Bank of Missouri, Steamboat Sultana Stock and Steamboat Neptune Stock have cost the firm
value in their obligation to B. N. Seymour. B. N. Seymour has produced the firm value in his investment.
2d. B. N. Seymour is Dr. because he costs the firm all that they assume to pay for him. Bills Payable is
Cr. because it produces the firm value in the indebtedness of B. N. Seymour.
3d. Sundries cost the firm value in their obligation to Albert Fitch. Albert Fitch produces the firm value
in his effects invested.
4th. Albert Fitch costs the firm value by their assumption of his debts. Coffin & Waite and Silas George
& Son produce the firm value, in the indebtedness of Albert Fitch.
The general rulefor determining what to debit, and what to credit, (page 62,) is therefore applicable to the
opening entries in partnership books.
1st
Deposited Cash in the State Bank of Missouri $8,000.
State Bank of Missouri has cost the firm value in Cash.
3d
Sold 8 of Steamboat Sultana for Cash deposited in State Bank of Missouri $5,250.
State Bank of Missouri has received the value produced by Steamboat Sultana Stock.
When both the debit and credit Leger titles are long, you may place them on separate lines in the Day-Book.
5th
Bought of Greely & Warburton a Farm in Pike Co., of this State, for $3,000.
Paid, pr. Check on      State Bank of Missouri, $1,000.          Gave our two Notes for the
Bal., secured by Mortgage on Farm-one @            1 year, $1,000-one at 2 years, $1,000.
Real Estate, Pike Co., costs the firm the amount paid for the farm. State Bank of Missouri and Bonds &
Mortgages Payable produce value. Bonds & Mortgages Payable are a species of Bills Payable, and are
sometimes entered to that account; but it is better to keep them distinct.
7th
Drew   Cash from    State Bank of Missouri, pr. Check, $500.
State Bank of Missouri produces value in Cash.
Paid Cash for i Repairs of Steamboat Neptune, $75.
Steamboat Neptune Stock costs value in Cash.
93




2 HISTORY AND ELUCIDATIONS, SET IV.
St. Louis, April 9th, 1852.
Paid Albert Fitch Cash for private use $50.
Albert Fitch receives value from the firm, for which he must be debited
Bought of Edwin Shippen, Jr., a House & Lot, No. 95 Main St., for $20,000.
Gave in part payment 1 of Steamboat Sultana, for $2,000; Check on State Bank
of Missouri, for $9,000; Our Bond, secured by Mortgage on the Property, payable
in 2 years, for the Bal.
Real Estate Main St. may be kept in a separate account from the other Real Estate. It has cost'alue
in Sundries.
10th
Checked from State Bank of Missouri, and remitted to Newton Snyder, Pike Co., to
be used by him in repairing and fencing Farm, according to directions in our letter
of date, $250.
Open an account with Remittances instead of N. Snyder. Remittances costs value-State Bank of Mis,
souri produces value.
15th
Rec'd intelligence that the Steamboat Neptune was snagged and sunk in the Mississippi river, above Memphis, on the 9th inst., and has been delivered over to the
Underwriters.
The Boat being insured for $34,000, we have received in Cash, (which we have
deposited in State Bank of Missouri,) from the Reliance Mutual Ins. Co. of this
City, our s of same, $4,250, less Expenses $125, = $4,125.
Lost the Bal. of our share of the Cost of said Boat, $450.
Steamboat Neptune Stock must here be credited $4,575 - $4,125 for value produced in cash, and $450 as
a transfer entry of the loss.
State Bank of Missouri must be debited for its cost, $4,125.
Profit & Loss must be debited $450, to transfer the loss on the steamboat into the Profit & Loss account,
which is the receptacle of all gains and losses in business.
The general rule for transactions does not apply to this transfer of the loss, but the transfer is a regular
closure of the Steamboat Neptune Stock account, and might be made on the Leger in the same manner as
other closing entries. It is usually, however, done through the Day-Book, as here shown.
16th
Bought, at Auction, i of Steamboat Sioux, for $6,120.
Paid in part by Note of T. Coleman, favor of A. Fitch and invested by him on commencing Business, due 22d proximo, $3,525.50; Check on State Bank of Missouri,
$2,500; Cash for Bal., including Dis. on Note, $115.65.
The Discount on Note, $3,525.50 for 36 days, is $21.15.
Steamboat Sioux Stock and Discount cost value. Bills Receivable and State Bank of Missouri produce
value.
Passed our Note, @ 30 days, to the St. Louis Ins. Co., for Ins. on our Share of the
Steamboat Sioux, for $6,250, (     2% = $125, & Policy $1.
Steamboat Sioux Stock costs value in Bills Payable.
~ —---------      ~~~~20th
Loaned Henry Bolton Cash $200.
Open an account with Loans instead of Henry Bolton. Loans account costs value in Cash.
_ —-----           2              8d~~~~~23d
Rec'd from Newton Snyder an %       of Fencing & Repairs on our Farm, Pike Co., paid
from our Remittance of 10th inst.,-Am't, including his Con., $215.
IHe has sent us the Bal. of the Remittance, in Cash, $35.
Remittances account furnishes the money for repairs, &c., and thus produces the firm value
Real Estate, Pike Co. and Cash receive this value from the firm.
94




IISTORY AND ELUCIDATIONS, SET IV. 3
St. Louis, April 26th, 1852.
Sold our Farm in Pike Co., to Silas George & Son, for $4,000.
Offset, as part payment, the Am't which we owe them on %, $2,135.50; Rec'd Cash
in part, $364.50; and their Note for Bal., payable in 2 years, secured by Mortgag
on Property.
Silas George & Son, Cash and Bonds & Mortgages Receivable have cost value in Real Estate, Bonds &
Mortgages Receivable are a class of Bills Receivable, but should be kept distinct, especially when numerous.
27th
Bought of Lemuel Fraley, pr. Check on State Bank of Missouri,
40 Shares State Bank of Missouri Stock, @ $48 pr. Sh.
State Bank of Missouri Stock has cost value. State Bank of Missouri has produced value.
These are two distinct accounts; the Bank Stock being a species of speculating property, like Mdse.
Deposited in State Bank of Missouri Cash received for 6 mos. Rent of House and
Lot, No. 95 Main St., $600.
Real Estate Main St. has produced value in the indebtedness of the State Bank of Missouri.
28th
Henry Bolton has paid us the Cash loaned him on the 20th, $200.
Loans account has produced value in Cash.
29th
Sold to Coffin & Waite 30 Shares State Bank of Missouri Stock, @ $50 pr. Sh.
Rec'd payment, in part, by the canceling of our indebtedness to them, $890; with
Interest allowed by us on same, $6.50; and their Check, which we have deposited
in the State Bank of Missouri, for Bal., $603.50.
Coffin & Waite, Interest and State Bank of Missouri have cost value in State Bank of Missouri Stock.
30th
Rec'd in Cash the Dividend on 10 Shares State Bank of Missouri Stock, par value
$500, @   5%   = $25.
State Bank of Missouri Stock has produced value in Cash.
Rec'd of Clerk of Steamboat Sioux, a Check, which we have deposited in the State
Bank of Missouri, for our I Net Proceeds of Trip No. 13, to New Orleans,
$309.35.
Steamboat Sioux Stock has produced value in the indebtedness of the Bank.
Discounted Note drawn by B. N. Seymour, favor of Blackwell & Co., assumed by the
Firm at commencing Business, due the 18th proximo, $7,500.
Paid by Check on State Bank of Missouri, $7,477.50.
Discount on $7,500, for 18 days, is $22.50.
When the firm assumed the payment of a note outstanding against B. N. Seymour at commencing business,
Bills Payable received a credit, as cancelling the indebtedness of the firm for the time. This note has now
been taken up and has cost the firm value. State Bank of Missouri and Discount have produced value.
95




DAY-BOOK, SET IV.
St. Louis, April 1st, 1852.           Dr.      Cr.
L.F.
Bela N. Seymour and Albert Fitch have this day entered into partnership, as pr. Articles of Agreement.
1 Sundries                     To Bela N. Seymour,
For Effects invested                                 16,000 00
1  State Bank of Missouri,  Cash on deposit            5,000 00
1  Steamboat Sultana Stock, i of said Boat             6,500 00
1  Steamboat Neptune Stock, j.".  "                  4,50000
1 Bela N. Seymour              To Bills Payable,       7,500 00
~2  ~    Note, favor of Blackwell & Co., assumed by the Firm  7,500 00
1st -
1  Sundries                    To Albert Fitch,
For Effects invested                                 11525 50
2  Cash,                  On hand                       8,000 00
2 Bills Receivable,        Note in his favor, drawn by Thomas
Coleman, due May 22d                        3,525 50
1 Albert Fitch                 To Sundries,            3,025 50
2      To Coffin & Waite,  Bal. of % assumed                       890 00
2      " Silas George & Son,.  (...                            2,135 50
-  State Bank of Missouri      To Cash,                8,000 00
2                         Deposited                              8,000 00
3d
1  State Bank of Missouri                              5,250 00
1      To Steamboat Sultana Stock,
Sold -s. of this Boat for Cash deposited              5,250 00
5th
3 Real Estate, Pike Co.        To Sundries,
Bo't of Greely & Warburton a Farm, for      3,000 00
1      To State Bank of Mo., Paid pr. Check                      1,000 00
3      " Bonds & Mortgages Payable,
Our Notes for Bal., secured by Mortgage on Farm,
One ( 1 year,      $1,000.00,, 2 "            1,000.00           2,000 00
2                         7th
-  Cash                        To State Bank of Mo.,     500 00
1          Drew out, pr. Check                                     500 00
I Steamboat Neptune Stock,     To Cash,                   75 00
2                                     1                             75 00
Paid for i Repairs of said Boat           _     _       700
A____~___________________ 0054,87600 54,87600
96




DAY-BOOK, SET IV.                                         2
St. Louis, April 9th, 1852.              Dr.      Cr.
1  Albert Fitch                  To Cash,          On %       50 00      50 00
2 —----                     9th
3  Real Estate Main St.          To Sundries,
Bo't House & Lot, No. 95 Main St., for        20,000 00
1      To Steamboat Sultana Stock,
Gave, of this Boat in part Pay't                         2,000 00
1       " State Bank of Mo., Our Check                                9,000 00
3       " Bonds & Mortgages Payable,
Our Bond, @ 2 years, secured by Mortgage                  9,000 00
10th
-  Remittances                   To State Bank of Mo.,       250 00
1             Checked from Bank, and remitted to Newton Snyder,
Pike Co., to be used by him in repairing and fencing
Farm, as pr. directions in our letter of date               250 00
15th
1  Sundries                 To Steamboat Neptune Stock,
This Boat was snagged & sunk in the Mississippi river,
above Memphis, on the 9th inst., and has been delivered
over to the Underwriters                                  4,575 00
1  State Bank of Mo.,        Rec'd, from the Reliance Mutual Ins.
Co., the Am't covered by Ins., (t of $34,000,) $4,250, less
Expenses, $125,                                4,125 00
3  Profit & Loss,           Lost the Bal.                    450 00
16th
Sundries                      To Sundries,
4  Steamboat Sioux Stock,    i of Boat, Bo't at Auction     6,120 00
4  Discount,                 On Note, $3,525.50, for 36 days  21 15
2      To Bills Receivable,  Paid in part by Note of T. Coleman,
favor of A. Fitch, due 22d proximo                        3,525 50
1       " State Bank of Mo., Our Check                                2,500 00
2       " Cash,              For Bal., including Dis. on Note           115 65
4  Steamboat Sioux Stock                                     126 00
2      To Bills Payable,     Our Note @ 30 days, favor St. Louis
Ins. Co., for Ins. on $6,250, @ 2 % & Policy               126 00
----— 4                    20th
-  Loans                         To Cash,                    200 00
Loaned to Henry Bolton                                     200 00
23d
3  Sundries                      To Remittances,
Rec' of Newton Snyder an % of the use made of our
Remittance to him of 10th inst.  Amount                    250 00
3  Real Estate Pike Co.     Fencing, Repairs, & his Com.     215 00
2  Cash                     Bal. returned                     35 00
31,592 15 31,59       15
N                     97




3                       DAY-BOOK, SET IV.
St. Louis, April 26th, 1852.              Dr.       Cr.
L.F.
3  Sundries                      To Real Estate Pike Co.,
Sold our Farm to Silas George & Son                        4,000 00
2  Silas George & Son,       Offset the Am't due them       2,135 50
2  Cash                      Rec'd in part                    364 50
4  Bonds & Mortgages Receivable,
Their Note for Bal., payable in 2 years, and secured
by Mortgage on Property                         1,500 00
27th -
4  State Bank of Missouri Stock                              1,920 00
1      To State Bank of Mo.,
Bo't of Lemuel Fraley, pr. Check, 40 Shares Stock @( $48.  1,920 00
1  State Bank of Mo.,            To Real Estate Main St.,     600 00
Rec'd & deposited 6 mos. Rent of House & Lot, No. 95         600 00
---------— 2              28th
Cash                          To Loans,                     200 00
Rec'd of Henry Bolton, for Loan of 20th inst.               200 00
29th
4  Sundries                  To State Bank of Mo. Stock,
Sold to Coffin & Waite 30 Shares Bank Stock @ $50.         1,500 00
2  Coffin & Waite,           Offset Am't we owe them          890 00
4  Interest,                 Allowed on their %                  6 50
1  State Bank of Mo.,        Their Check deposited            603 50
2  30th
2  Cash,                      To State Bank of Mo. Stock,      25 00
4            Dividend on 10 Shares,-$500 @ 5 %                            25 00
1  State Bank of Mo.                                          309 35
4      To Steamboat Sioux Stock,
Deposited a Check Rec'd of the Clerk of said Boat, for
our i Net Proceeds of Trip No. 13, to N. Orleans                 309 35
2  Bills Payable                  To Sundries,
Disc'd our Note, favor of Blackwell & Co., due 18th prox.  7,500 00
1      To State Bank of Mo., Our Check                                 7,477 50
4       " Discount,          On $7,500, for 18 days         __            22 50
16,05435 16,054 35
98




LEGER, SET IV.
Dr.                      Bela N. Seymour.                       Cr.
1852.                                1852.
Apr. 1 To Bills Pay.     1   7,5ool00 Apr. 1 By Sundries      1 16,000 00
13 0 "Bal.(NetCap.toNew  10,641 0    30 " Profit & Loss  3   2,174 10
18,174-10                           18,174 10
1852.
May 1 By Bal. fr. Old %     10,67410
Dr.                         Albert Fitch.                       Cr.
Apr. 1 To Sundries       1   3,025 50 Apr. 1 By Sundries      1 11,525 50
"   9 " Cash            2     50 00  "  30 " Profit & Loss  3   2,17410
3,075.50
" 3 0 "Bal. (NetCap.)toNewc  1 0,6 2 4 1 0                    _____
13,699 60                           13,69960
--  1852.
May I By Bal. fr. Old %    10,62410
Dr.                   State Bank of Missouri.                    Cr.
1852.[1852.
Apr. I To B. N. Seymour  1   5,000 00 Apr. 5 By Real Estate   1  1,000 00
sC  "  " Cash         1   8,000 00    7 " Cash             1    500 00
"  3 " St'b't Stock     1  5,250 00  "  9 " Real Estate     2   9,000 00
15 "      "    "       2  4,125 00    10 " Remittances     2    250 00;  27 " Real Estate     3    600 00  " 16 " Sundries        2   2,500 00
29 " State B'k Stock 3      603 50  " 27 " State B'k Stock 3   1,920 00
" 30 " St'b't Stock     3    309 35  "  30 " Bills Pay.     3   7,477 50
23,887.85                            22,6477.50
23,887.8;,," Bal. to New %       1,24 035
23,88785                           23,88785
May 1 To Bal. fr. old %c     1,240 35 
Dr.                  Steamboat Sultana Stock.                    Cr.
1852.                                1852.
Apr. 1 To B. N. Seymour  1   6,500 00 Apr. 3 By State B'k Mo.  1  5,250 00
30o "'Profit&Loss(gain) 3  75000  "  9" Real Estate       2  2,00000
___________ / ~7,250.00      ________
7,250 00                            7,25000
Dr.                  Steamboat Neptune Stock.                   Cr.
1852.                               1852.
Apr. 1 To B. N. Seymour  1   4,500 00 Apr. 15 By Sundries     2  4,575 00
7   " Cash           1     7500
4,575.00
_   4,57500                              4,575 00
99




2                    LEGER, SET IV.
Dr.                     Bills Payable.                   Cr.
1852.                           1852.
Apr. 30 To Sundries   3   7,500 00 Apr. 1 By B. N. Seymour 1  7,500 00.,  Bal. to New c     12600 " 16 " St'b't Stock   2   12600
7,626.00
7,626 00                        7,62600
_-185. — _1852.                     _     -
May 1 By Bal. fr. Old %    12600
Dr.                         Cash.                        Cr.
1852.                            1852.
Apr. 1 To A. Fitch    1   8,000 00 Apr. 1 By State B'k Mo.  1  8,000 00
7 " State B'k Mo.  1   500 00 "  7 " St'b't Stock  1    75 00
" 23 " Remittances   2     35 00 "  9 " A. Fitch     2     50 00
" 26 " Real Estate   3    36450 " 16 " Sundries      2    115 65
" 28 " Loans         3    200 00 " 20 " Loans    8,440.65 2  200 00
30 " State B'k Stock 3  25100,, 3o c" Bal. to New %    68385
9,124.50    -
-,852. =,         9,124 50                         9,124 50
852.  -.- -
May I To Bal. fr. old %    683 85
Dr.                    Bills Receivable.                 Cr.
1852.                            1852.
Apr. 1 To A. Fitch    1   3,525 50Apr. 16 By Sundries  2  3,525 50
Dr.                    Coffin   Waite.                    Cr.
1852.                            1852.
Apr. 29 To State B'k Stock 3  89000 Apr. 1 By A. Fitch  1  890 00
Dr.                  Silas George & Son.                 Cr.
1852.                   I        1852.1
Apr. 26 To Real Estate  3  2,13550 Apr. I By A. Fitch  1    2,135 50
100




LEGER, SET IV.                                 3
Dr.                    Real Estate Pike Co.                     Cr.
1852.                                1852.
Apr. 5 To Sundries       1   3,000 00 Apr. 26 By Sundries     3  4,000 00
23 " Remittances      2    215 00
3,215.00
30 " Profit JLoss (gain) 3  7 8 50 0
4,000 00                             4,000 00
Dr.                Bonds & Mortgages Payable.                    Cr.
1852. I                             1852. 
Apr. 3 o                        oBal. to New  1  1,oo0 0 Aopr. 5 By Real Estate  1  2,000 00
"                 11,0000 2  9, 0000
_= 11,000 00 1                         11,000 00
May1 By Bal. fr. Old %     11,00000
Dr.                    Real Estate Main St.                      Cr.
1852.                               1852.
Apr. 9 To Sundries       2 20,00 00Apr. 27 By State B'k Mo.   3    600 00. 30 o" Profit Loss (gain) 3  3,10000  " 3 0,Bal.(Inv't)toNewc  2 2,5O0 0
18.               23,100 00                          1 23,100 00
May 1 To Bal. fr. Old %     22,500'00
Dr.                         Remittances.                         Cr.
1852.                                1852.
Apr. 10 To State B'k Mo.  2   250   Apr. 23 By Sundries       2    250 
Dr.                        Profit & Loss.                        Cr.
1852.                                1852.
Apr. 15 To Neptune Stock  2   450 00 Apr. 30 By Sultana Stock  1   750100
"30 " Int. & Dis. 414       515 11      " Estate Pike Co. 3    78500
"B.N.Seymour(~netgain) 1  2,174 10  " I" "  "  Main St. 3  3,10000
"A. Fitch  " "( " 1  2,174 1 0 <"    " Sioux Stock    4     63 35
-1 "  " " State B'k Stock 4  10500
=^^  ------- —:; = 04,803.35               -
4,803 35    __                      4,80335
101




4                      LEGER, SET IV.
Dr.                  Steamboat Sioux Stock.                   Cr.
1852.                              1852.
Apr. 16 To Sundries     2   6,120 00 Apr. 30 By State B'k Mo.  3  309 35;"  " " Bills Pay. 6246 002  126 00  "  " tBal.(nv't)toNewc   6,0 o 0 0 
" 3 0  Profit tLoss (gain) 3  6 3 3 5                       _
— 1852. -L                6,309 35                        L   6,309 35
May 1 To Bal. fr. Old %c    6,000 00
Dr.                    Interest & Discount.                   Cr.
1852.                              1852.
Apr. 16 To Sundries      2    21 15 Apr. 30 By Bills Pay.   3    22150
29    State B'k Stock 3    6 50  "       Profit Loss(loss) 3    si
27.65
27j65                           _  2765
Dr.                           Loans.                          Cr.
1852.                               1852.
Apr. 20 To Cash         2    20000 Apr. 28 By Cash          3    20000
Dr.               Bonds & Mortgages Receivable.                Cr.
1852.
Apr. 26 To Real Estate  3   1,50000
Dr.               State Bank of Missouri Stock.                Cr.
1852.                              1852.
Apr. 27 To State B'k Mo.  3  1,920 00 Apr. 29 By Sundries   3  1,500 00
3 0 "Profit &Loss (gain) 3  1 0 5 0  " 30 " Cash          3     2500
/____             "  B,,, ^,Bal.(Inv't)toNew%  5 0 0 0 0
1852. -      2,025100                           2,025100
1852. i -~_~          _     _
May 1 To Bal. fr. Old %      500 00
102




TRIAL BALANCE, LEGER, SET IV.               Dr.      Cr.
L. F.
1 Bela N. Seymour     -    -   --     -   -    -                  8,500 00
1 Albert Fitch  -   -    ---                 -   -                8,450 00
1  State Bank of Missouri-  -  -    -                    1,240 35
1 Steamboat Sultana Stock -  -    -   -                             750 00
2 Bills Payable   -   -    -   -    -   -    -   -    -             126 00
2  Cash    -    -   -    -                                 683 85
3 Real EstatePike Co.  -   -- -                  -    -             785 00
3 Bonds & Mortgages Payable  -    -   -    -                     11,000 00
3 Real Estate Main St. -   -   -    -                   19,400 00
3 Profit & Loss  -  -    -   -    -   -    -   -    -      450 00
4  Steamboat Sioux Stock -  -  -    -   -    -   -       5,936 65
4  Interest & Discount -  -  -    -   -                      5 15
4 Bonds & Mortgages Receivable  -   -   -                1,500 00
4  State Bank of Missouri Stock  - -  -    -   -    -      395 00
29,611 00 29,611 00
INVENTORY-BOOK, SET IV.
Property remaining unsold, April 30th, 1852:
House & Lot, No. 95 Main St., valued at                  22,500 00
One-Fourth Steamboat Sioux,  "  "                         6,000 00
10 Shares State Bank of Missouri Stock, @ $50 pr. Sh.       500100
29,000 00
STATEMENTS, SET IV.
The total gains accruing from this business are  -  -- $4,803.35
C"  " losses  "                      -    -   -    -                   455.15
Making the firm's net gains  -  -  -   -   -    -   - $4,348 20
Each partner's share is ~ of $4,348.20 =$2,174.10.
The total assets* at closing are-  - - -   --           - $32,424.20
("  " liabilitiest "      -    -                          11,126.00
Making the firm's net capital or present worth  - $21,298.20
Net capital of B. N. Seymour at commencing, as pr. credit Bal. of his  -  - $8,500.00
Add his. net gains, as above  - --           -   -    -   -     2,174.10
His net capital is -         -        -            - $10,674.10
Net capital of Albert Fitch at commencing, as pr. credit Bal. of his 7  -  -  - $8,500.00
Deduct Am't withdrawn for private use -                            50.00
Bal. remaining to credit of his                -   - $8,450.00
Add his i net gains, as above                                    214- 2,174.10
His nci capital is  -  -   -   -    -   -    -   - $10,624 10
B. N. Seymour's net capital or present worth  -  -- $10,674.10
Albert Fitch's  "  "   "   "     "       -   -    -   -    10,624.10
Firm's present worth, as above  -  -  -  - $21,298.20
* When, as in this Set, no Balance account is opened in the Leger, the total assets are ascertained after the Leger is closed, by slumming up all the debit balances (" brought down to new account") under the various accounts which are kept to show assets and
liabilities.
f The total liabilities are ascertained by summing up all the credit balances under the various accounts kept to show assets anJ
liabilities
103




STATEMENTS (continued).
Therefore:In a partnership business, where the partners invest equal net capital, do a gaining business,
and share alike in gains,
Deduct total losses from total gains-to find firm's net gains.
Divide firm's net gains equally-to find each partner's net gains.
Deduct total liabilities from total assets-to find firm's present worth.
Add each partner's ~ net gains to the credit balance of his account-to find his present worth.
The present worth of the two partners, added together, must equal the present worth of the
firm.
QUESTIONS FOR REVIEW, SET IV.
Wherein does the plan pursued in Sets IV and V differ from the Italian method?
What does the general rule for journalizing now become?
Which is the book of original entry? From which are all postings made?
Where may the various auxiliary books, omitted in this Set, be found?
Is Set IV an individual or partnership business? Prosperous or adverse?
How do the partners share in gains and losses?
Which are the first accounts to be opened on the Leger, in partnership books?
How does the closure of the Leger differ from the closure in Sets I, II, and III?
How is Profit & Loss account to be closed?
When and for what purpose is the Second Trial Balance to be taken? Of what will it consist?
In the following transactions of a firm, what are the debits and credits-and why?
1st, Investment by one partner of cash deposited in a bank, and of a portion of two steamboats. [Bear in mind that in Set IV a Bank account is kept in the Leger.]-2d, Assumption
by the firm of a note which that partner owes.-3d, Investment by the other partner of cash,
and a note he holds against another person.-4th, Assumption by the firm of this partner's
indebtedness to two different persons.-5th, Deposit of cash in bank.-6th, Sale of portion of
a steamboat for cash deposited in bank.-7th, Purchase of a farm in Pike Co., and payment by
a check on the bank, and by the firm's notes secured by mortgage on the property.-8th, Drawing cash from the bank, pr. check.-9th, Payment of the firm's portion of repairs of steamboat.
-I10th, Payment of cash to a partner for private use.-llth, Purchase of a house and lot on
Main St., and payment by portion of a steamboat, by check on bank, and by the firm's note
secured by mortgage.-12th, Draft of money from bank, and remittance of it abroad, to an
agent, to be used by him as directed.-13th, Sinking of a steamboat partly owned by the firm,
and receipt of cash for the portion covered by insurance-balance lost.-14th, Purchase of portion of a steamboat, and payment by a note which the firm holds against another person, by
check on bank, and by cash-the note not being yet due, and the firm allowing a discount
thereon.-15th, Issuing the firm's note for insurance on their portion of a steamboat.-16th,
Loan of cash.-17th, Receipt from an agent abroad of a portion of the money previously
remitted to him, with information that he has used the balance in making repairs on farm in
Pike Co.-18th, Sale of farm in Pike Co., and receipt of payment by offset of an account we
owe, by cash, and by another person's note secured by mortgage.-19th, Purchase of stock in
bank by check on the bank.-20th, Deposit in bank of money received for rent of house and
lot on Main St.-21st, Return of money loaned out.-22d, Sale of bank stock, and receipt of payment by canceling the firm's indebtedness to another person, by interest thereon, and by check
of another person deposited in bank.-23d, Receipt of cash for dividend on bank stock.-24th,
Receipt, pr. check deposited, of a portion of the net proceeds of steamboat's trip to New
Orleans.-25th, Discount of firm's note, and payment of amount (less discount) by check on
bank.
What are the total gains of the firm in Set IV? Total losses? Net gains?
What is each partner's share of net gains? How found?
What are the total assets of the firm? Total liabilities? Net capital?
What is the net capital of B. N. Seymour? How ascertained?
What is the net capital of Albert Fitch? How ascertained?
In such a business as Set IV represents, how can you find the firm's net gains?  How each
partner's? How can you find the firm's present worth? How each partner's? What must
the present worth of the two partners, added together, equal?
104




TIMOTHY H. PORTER & CO.
SET V.
PRODUCE, GROCERY, AND DOMESTIC SHIPPING
BUSINESS.
[See page 92 for Instructions for writing up this Set.l
0             105




HISTORY AND ELUCIDATIONS, SET Y.
Cincinnati, June 1st, 1852.
Timothy H. Porter, David Harrington and George Anderson have this day formed a
partnership to conduct a produce, grocery and domestic shipping business. Porter
and Harrington are to furnish the capital as agreed, and to receive interest thereon;
and each is to share two-fifths of the gains or losses. Anderson is to share onefifth of the gains or losses.    Title of firm-"Timothy H. Porter r Co."
T. H. Porter invests in Cash $10,000.
David Harrington invests in Cash $10,000, and in Mdse., pr. Invoice, $3,125.
He owes on Bills Payable, pr. B.-B., which the Firm        assume, $2,238.36.
Making his Net Capital $10,886.64.
T. H. Porter produces the firm value in Cash.
David Harrington produces the firm value in the Cash and Mdse. invested; and he costs value in Bills
Payable, assumed by the firm.
George Anderson requires neither a debit nor a credit at this time; but, in posting, his account should be
the third opened in the Leger, that the partner's accounts may stand together.
s- No Bank account is kept in the Leger in this Set.
2d
Sold to Booth &      Plumley 150 Bbls. Mess Pork         @   $9.50; and 100 Bbls. Lard,
20,000 lbs. @   6' —total Am't $2,675.
Rec'd, in payment, 14 Hhds. Sugar, 15,400 lbs. @            6/; David Harrington's Note,
their favor, assumed by the Firm at commencing business, due 29th inst., for
$1,500; and Cash for Bal. of Sale and for Discount on Note, $257.75.
Discount on David Harrington's Note for 27 days is $6.75.
Mdse., Bills Payable and Cash have cost value. Mdse. and Discount have produced value. The entry
will be commenced "Sundries To Sundries."
3d 
Paid in Cash David Harrington's Note, favor of Charles Elliott & Bro., assumed by
the Firm at commencing business, dated Mar. 2d, @           90 days, with Int. from date.
Am't of Note $738.36-Int. 93 days (including Grace).
Reckon the interest on this note first, and then make the proper entry. Bills Payable and Interest have
cost value, and Cash has produced value.
Bought of Joseph Suydam         & Co. 125 Bbls. Superfine Flour @          $4.25; 100 Bbls.
Extra Mess Pork @       $9; 600 Bbls. Mess Beef @        $11; 100 Bbls. Prime Beef @
$8.50; 50 Bbls. Beef Hams @         $16; 50 Bbls. Pearl Ashes (        $4.30-total Am't
$9,896.25.
Paid in part by 14 Hhds. Sugar, 15,400 lbs. @         62; and Cash for the Balance.
Mdse. has cost value in Mdse. and Cash.
In such cases as this, Mdse. might be considered as costing only the balance paid for it in Cash-the entry
would then be "Mdse. Dr. To Cash $8,895.25;" but the better way is to debit Mdse. the full amount $9,896.25,
and credit Mdse. and Cash; thus letting the Mdse. account show the entire dealings in Mdse.
4th
Shipped pr. Steamboat Crescent City, Forbes master, and consigned to Goodhue & Co.,
New Orleans, to be sold on our account and at our risk, 125 Bbls. Superfine Flour
@  $4.25; 200 Bbls. Mess Beef @         $11.
Paid Drayage in Cash $10.25.
Passed our Note, @     30 days, to the Western Insurance Co., for Ins. on $2,777.22 @
11    and for Policy $1.
Goods sent abroad to be sold for your account must not be debited to the consignee, but must have a specific
heading or title, under which to keep an account of them; just as goods at home have the title of " Merchandise." The title usually assumed is "Shipment" or "Adventure," to such a place or to such a party. You
may call this "Shipment to New Orleans," which account has cost value in the amount paid for the goods,
and in the expenses attending the shipment of the same.
Sundries:-to wit, Mdse., Cash, and Bills Pay., have produced value.
Explain fully every debit and credit made in the Day-Book.
5th
Paid Cash for sundry Repairs of Store $30.
106




HISTORY AND ELUCIDATIONS, SET V. 2
Cinciznati, June 7th, 1852.
Bought of Claremont,.Smith & Co., on %, 200 Bbls. Mess Beef @        $11.121.
7th
Shipped pr. Steamboat Henry Clay, Gaines master, and consigned to Osterhaut &
Evans, Mobile, to be sold on our account and risk, 50 Bbls. Pearl Ashes @   $4.30
200 Bbls. Mess Beef @ $11.122.
Paid Cash for Drayage $8; also to the Ohio Insurance Co., for Ins. on $2,480 @ 11
and for Policy $1.
You may term this "Adventure" instead of "Shipment," to show variety.
Adventure to Mobile has cost value in Mdse. and Cash.
11th
Rec'd pr. Steamboat Isaac Newton, Manning master, from Van Deursen & Co., N. O.,
Mdse. previously ordered by us, to wit:-30 Hhds. N. O. Molasses, 3,000 Gals. (
25k; 30 Hhds. N. O. Sugar, 30,750 lbs. @     4'Y.
Paid, in Cash, the Freight, Drayage, &c. on above Mdse. $96.
Mdse. has cost the firm value. Van Deursen & Co., and Cash have produced the firm value, the former by
furnishing the goods without pay, the latter by paying freight.
12th
Purchased for Cash, of Bowen & Bros., of this City, their Bill of Exchange on
Lafitte & Dalton, N. 0., and remitted the same this day to Van Deursen & Co., in
payment of Am't due them, $2,133.75.      Paid 4 % Prem. for the Bill.
First calculate the premium on $2,133.75 @ ~%, and then make the entry.
Van Deursen & Co. and Premium have cost the firm value. Cash has produced value.
14th
Bought of Daniel Liebrand & Co., on our Note @ 4 mos., 2,500 Bush. Ohio Wheat,
delivered on board the Steamboat Buena Vista, Taylor master, @ $1.03 per Bush.,
and shipped the same to Austin & Spicer, Galveston, Texas, to be sold for our
account and risk.
Issued our Note, @ 15 days, to the Cincinnati Mutual Ins. Co., for Ins. on $2,608.61
@  11%  and for Policy $1.
Shipment to Galveston has cost value in Bills Payable.
17th
Sold to Richard Stockton & Co. 20 Hhds. N. O. Molasses, 2,000 Gals. @       27'; 100
Bbls. Prime Beef @    $9; 100 Bbls. Mess Beef @     $11.50.
Rec'd Cash in part, $1,295; their Note @ 60 days, for Bal., including Discount,
$1,308.74. The Discount on Note ($1,308.74) is for 63 days.
Cash and Bills Receivable have cost the firm value. Mdse. and Discount have produced value.
Reckon this discount in the same manner as interest is calculated, and if right, the amount obtained and
the total amount of Mdse. here sold, added together, will equal the gross sum of the money and note received
in payment.
18th
Accepted Claremont, Smith & Co.'s Draft on us, @ 30 days' sight, favor of Oakland
& Co., for $1,000.
Claremont, Smith & Co. have cost the firm value in Bills Payable.
23d
Shipped, pr. Steamboat Ben Franklin, to T. W. Boswell & Co., Vicksburg, for their
%, and pursuant to their order, 150 Bbls. Mess Beef @     $11.50.
Paid Drayage in Cash, $4.75.
Here the goods are not shipped for your own account, but for account of another party who ordered them.
This is therefore a regular sale; and T. W. Boswell & Co. have cost you value in Mdse. and in Cash.
107




3 HISTORY AND ELUCIDATIONS, SET V.
Cincinnati, June 25th, 1852.
Rec'd intelligence that the Steamboat Buena Vista, on which we made a Shipment on
the 14th inst., was wrecked in the Gulf of Mexico on the 20th inst.,-Boat and
Cargo total loss.
This is a mere memorandum, to prepare you for the entry of the 29th inst., and showing that in the course
of business the firm would now receive this information. It requires no Day-Book entry.
26th
Discounted our Acceptance of the 18th inst., @ 30 days' sight, Oakland & Co.'s
favor, Am't $1,000.
Discount for 25 days on $1,000 is $4.17-Bal. paid in Cash.
Bills Payable has cost value in Cash and Discount.
28th
Paid George Anderson Cash for private use $200.
29th
The Cincinnati Mutual Ins. Co. has failed, and is able to pay but 10f on the dollar,
of its indebtedness.  Accordingly we have received from     the Assignees 10 % on
the Am't of our Ins. on Ship't to Galveston of 14th inst., pr. Steamboat Buena
Vista, which was wrecked in the Gulf of Mexico on the 20th inst.-Boat & Cargo
total loss.
Am't insured $2,608.61 @    10% = $260.86, for which we received our Note of 14th,
@ 15 days, $33.61; and Cash for Bal.
The loss of goods belonging to Shipment to Galveston is the means of the firm's receiving $260.86. Shipment to Galveston has therefore produced the firm that amount of value in Bills Payable and Cash.
Rec'd an Account-Sales from     Osterhaut & Evans, Mobile, of Ashes and Beef sent
them on the 7th inst.   Net proceeds $2,976.15.
Rec'd also a Draft, remitted by them, on Biddle Brothers, at sight (for part proceeds),
which has been paid in Cash, $1,500.00.
An Account-Sales is a detailed statement of the sales of goods, and of the charges attending the same.
Adventure to Mobile has here produced value in Cash, and in the indebtedness of Osterhaut & Evans for the
portion of proceeds still in their hands.
30th
Rec'd an Account-Sales from Goodhue & Co., New Orleans, of 200 Bbls. Mess Beef,
belonging to Ship't to them of 4th inst. Net proceeds $2,380.86.
Shipment to New Orleans has produced value in the indebtedness of Goodhue & Co.
Paid Cash for Rent of Store $75; for Clerk hire $100; for Laborers $38.
Due to Timothy H. Porter for Int. on Capital invested, $10,000, for one mo., $50.
"   " David Harrington     "   "  "     "       "      $10,886.64    "   "   $54.43.
Interest has cost the firm value in their indebtedness to each of these two partners.
T. H. Porter, and David Harrington have each produced the firm value in the use of capital invested.
108




TRIAL BALANCE, LEGER, SET V.   Dr   Cr
L.F. 
1 Timothy H. Porter - - -     --     -        10,050 00
1 David Harrington  - --                      10,941 07
1 George Anderson  -  -       -      -   200 00
1  Cash  -  - -   -  -   -  -   -       9,90604
2 Merchandise  -  -  -           -      5237 75
2  Bills Payable  -  -  --         -           2,610 72
2 Interest, Discount & Premium -  -  -  -  -  96 54
2 Shipment to New Orleans  - -  -  -     39636
3  Store Expenses -              - --    243!00
3 Claremont, Smith & Co.-  - - -   -           1,225 00
3 Adventure to Mobile - - - --   -              496 15
3 Shipment to Galveston -. —       -   2,347 75
4 Bills Receivable  --           -   - 1,308 74
4 T. W. Boswell & Co. -  -  -           1,729 75
4 Osterhaut & Evans -  -  - - -         1,47615
4 Goodhue & Co. -  - --                 2,380 86
1 —~~~~~~~~~___              I25,32294 25,32294
INVENTORY-BOOK, SET V.
Property remaining unsold June 30th, 1852:
Merchandise,
175 Bbls. Mess Pork             @ $9.00  1,575 00
150 "   " Beef                  " 11.00  1,650 00
50  " Beef Hams                 " 16.00  800 00
30 Hhds. N. O. Sugar, 30,750 lbs.  ".043 1,460 63
10 "    " Molasses, 1,000 Gals..261  262 50
5,748 13
Ship't to New Orleans,
125 Bbls. Superfine Flour       " 4.25   531 25
6,279 38
STATEMENTS, SET V.
The total losses of the firm in this business have been  -  -  - $2,687.29
"  c gains " " " " "   "    "  "   -   -  -   -  1,141.42
C6  Cc   gains C'                                1,141.42
Making the firm's net losses -  -  - $1,545.87
Timothy H. Porter's share is - = $618.35
David Harrington's  " " 2 = $618.35
George Anderson's  " " = $309.17
The total assets of the firm at closing are  - - - - - $23,080.92
"  "  liabilities "                              3,835.72
Making the firm's net capital or present worth $19,245.20
109




STATEMENTS (continued).
Timothy H. Porter invested at commencing -     -    -    - $10,000.00
Add interest, as agreed    -    -     -    -    -         50.00
Total credit to his account -  -     - $10,050.00
Deduct his 2 net losses, as before -  -    -    -       618.35
His net capital is   -    -    -     -  $9,431.65
David Harrington invested, at commencing, a net capital of  -   -       $10,886.64
Add interest, as agreed  -   -     -    -    -    -                   54.43
Credit balance to his account -        -- $10,941.07
Deduct his i net losses, as before  -   -    -    -     -    -       618.35
His net capital is -   -    -          -    -    - $10,322.72
George Anderson has drawn out for private use, as pr. total debit
to his account -    -     --                  - $200.00
Add his { net losses, as before  -                      309.17
His net insolvency is   -    -    -    - $509.17
Add,  Porter's net capital or present worth             -    -    -     $9,431.65
A   IIarrington's  "  "    "    "                          -     -  10,322.72
$19,754.37
Deduct Anderson's net insolvency  -     -    -509.17
Firm's present worth, as before  -    -    -    -  $19,245.20
Therefore:In a partnership business with three partners, like the present, in which two of the
partners invest the capital, while the other partner invests nothing, but draws out for
private use, and they do a losing business,
Deduct total gains from total losses-to find the firm's net losses.
Divide firm's net losses, according to the original agreement-to find each partner's
share of net losses.
Deduct total liabilities from total assets-to find the firm's net capital.
Deduct the net losses of each partner who invests capital from the credit total, or
balance, of his account-to find his net capital at closing.
Add the net losses of the partner who makes no investment to the debit total (or
balance) of his account-to find his net insolvency at closing.
Deduct the net insolvency of one partner from the sum total of the net capitals of the
other two-to find the firm's net capital-which must agree with the difference between
the firm's assets and liabilities.
NOTE.-It will be seen that the net capital of Porter and of Harrington consists in part of the indebtedness cf Anderson to the firm.
110




DETECTION AND CORRECTION OF ERRORS.
MUCHi has been said and written about the detection of errors in Book-keeping, and
many so-called infallible schemes have been put forth, by which to discover at a glance
whether an error exists, and, if so, to trace it to its origin. But no plan has yet come
before the public which will bear the test of rigid scrutiny; and the only certainty of
accuracy in every respect appears to be an examination of items in detail. The Trial
Balance is the best short test of correctness in posting yet discovered, and this is
defective, inasmuch as errors may exist while the Trial Balance is apparently entirely
correct:-such as posting to the wrong account, although on the right side; omitting to
post a debit and a credit of equal amount, &c. But if the Trial Balance is not in equilibrium, there is certainly an error, which must be sought and corrected.
Detection.
1st. See whether the pencil footings on the Leger, made preparatory to taking the
Trial Balance, are correct, and whether the balances of the different accounts have been
transferred into the Trial Balance rightly.
2d. If there is still an undiscovered error, examine each post separately, checking
the entries in both Journal and Leger as you proceed, until you have been over the
whole; and then look through again, to see if any amount remains unchecked, and, if
so, investigate the cause of the omission.
In this manner, you can scarcely fail to discover the mistake, provided the Journal is
correct; but great care should be taken to see that the Journal is in equilibrium before
posting, as any discrepancy there will give you much trouble in the Leger.
Correction.
In the Day-Book (or any other book of original entry) erasures are not admissible,
since this book is taken as evidence in courts of justice, and any thing obliterated or
erased looks suspicious, would probably render invalid the entry with which it is connected, and in some cases might even throw the whole book out of court, as evidence
unfit to receive. Errors in it should therefore be corrected by making other entries
explaining them; or the erroneous entry, if it has not been journalized, may be marked
"Void," and remain without further alteration, a new and correct entry being made of
the transaction.
In the Journal, erasures are sometimes admissible, although it is generally advisable
to treat errors as directed for the Day-Book.
In the Leger, if an entry be posted to the wrong account, or to the wrong side of the
account, make ciphers of the figures, and leave the remainder, so as not to deface the
Leger; then post the entry to its proper place. If a wrong amount be posted, alter it
to the right. And if a duplicate post be made, make ciphers of the figures in the
erroneous one.
QUESTIONS FOR REVIEW, SET V.
How many partners in Set V? 
How do they share in gains and losses? 
How d o   they psarte in ginves t ca p ital?  For answers to these questions, see page 92.
How many of the partners invest capital?
Is it a gaining or losing business?
In the following transactions of a firm, what are the debits and credits-and why?
1st, Investment of cash by one partner.-2d, Investment by another partner of cash ana
Mdse.-3d, Assumption by the firm of notes outstanding against that partner.-4th, Sale of
Mdse., and receipt of payment by Mdse., by a note of the firm outstanding, and by cash-the
note not being yet due, and they being allowed a discount thereon.-5th, Payment in cash of
the firm's note with interest on same from date.-6th, Purchase of Mdse. for Mdse. and cash.
111




QUESTIONS FOR REVIEW (continued).
-7th, Shipment of Mdse. to New Orleans, to be sold for account of the firm, and payment of
drayage on same in cash, and of insurance by firm's note.-8th, Purchase of Mdse. on account.
-9th, Shipment of Mdse. to Mobile to be sold for account of the firm, and payment of drayage
and insurance on same in cash.-10th, Receipt of Mdse. previously ordered from abroad, but
not paid for, and payment of freight, drayage, &c. on same in cash.-llth, Purchase for cash,
i % premium, of a bill of exchange, and remittance of same to pay an account which the
firm owe.-12th, Purchase of wheat by firm's note, and shipment of same to Galveston to be
sold for their account, insurance thereon being also paid by their note.-13th, Sale of Mdse. at
cash price, receiving part cash, and for the balance a note sufficiently large to cover discount
thereon, so as to make it equal to cash.-14th, Acceptance by the firm of a draft on them.15th, Shipment of Mdse. to another person, pursuant to his order and for his account; and
payment of drayage in cash.-16th, Discounting, by the firm, of their acceptance outstanding.
-17th, Payment of cash to a partner for private use.-18th, Receipt of the firm's note and
cash from an Insurance Co., for 10 % on the amount insured on goods shipped to Galveston,
which have been wrecked.-19th, Receipt of an account-sales of goods consigned abroad, accompanied by a draft for a portion of the amount, which you immediately convert into cash.20th, Receipt of an account-sales without any remittance.-21st, Payment of store rent and
clerk hire in cash.-22d, Allowance of interest to two partners on capital invested
What are the total losses of the firm in Set V? The total gains? The net losses?
What is Porter's share of the net losses? What is Harrington's share? What is Anderson's
share?
What are the total assets of the firm? The total liabilities? The net capital?
What is the net capital of Timothy H. Porter? How ascertained?
What is the net capital of David Harrington? How ascertained?
What is the net insolvency of George Anderson? How ascertained?
What is the balance resulting, by deducting Anderson's net insolvency from the amount of Porter
and Harrington's net capitals added together?
In such a business as Set V represents, how can you find the firm's net losses? How each partners? How can you find the firm's net capital? How can you find the net capital of each
partner who invests capital at starting? How the net insolvency of the partner who makes no
investment, but draws out funds for private use? If you deduct the net insolvency of one
partner from the sum total of the net capitals of the other two, what will the difference show:
-with what must it agree?
QUESTIONS ON DETECTION AND CORRECTION OF ERRORS.
Has any short and infallible method been discovered for detecting errors in books?
What affords the only certainty of accuracy in keeping books?
What is the best short test of correctness in posting yet discovered?
Why is this test defective?
Mention some errors that may exist when the Trial Balance is apparently correct.
If the Trial Balance is not in equilibrium, what may you be certain of?
Explain how to detect errors made in posting, or taking a Trial Balance.
How should an error be corrected in the Day-Book?
Hew should an error be corrected in the Journal?
If ow should an error be corrected in the Leger?
112




BALANCE SHEETS
AND
LEGER ACCOUNTS
r      113




BALANCE SHEETS EXPLAINED.
Take a sheet of unruled foolscap or letter paper, and draw a double red line around
it close to the edge, for a border; then draw a pencil line across the sheet lengthwise,
about three-quarters of an inch from the border on one side; follow this with two other
pencil lines, one-half that distance apart; then draw a double red line under the first
and last pencil lines. This serves for a heading.
For "Stock" Sheets, commence under this heading, and rule enough lines, with
pencil, to receive all the accounts in your Trial Balance, and leave eight extra. Now turn
the sheet, so that the heading will be at your left, and commence ruling, with red ink,
the money columns, after the pattern shown on the following page, dropping three lines
after "Balance," two after "Stock," two after "Profit & Loss," and one after "Face
of Leger." Next rule the footing and closing lines at the bottom of the columns.
In "Partnership" Sheets, for two partners, rule twelve more pencil lines from the
heading than your Trial Balance contains accounts; then, in ruling for the money
columns, drop four lines after "Balance," two after the first partner, two after the
second partner, three after "Profit & Loss," and one after "Face of Leger."  For
three partners, rule sixteen extra pencil lines; and, in ruling for the money columns,
drop five lines after "Balance," two after the first partner, two after the second, two
after the third, four after "Profit & Loss," and one after "Face of Leger."
Having prepared your Sheet thus, and made the proper headings to it, first bring
into it the Trial Balance of your Leger, which, you will now observe, is called in the
Balance Sheet, "Face of Leger."
Next, enter to each property account the property remaining unsold, as pr. InventoryBook; placing the amount in small red ink figures in "Face of Leger' column, on the
credit side, immediately below the line containing the difference of sild account; and
making the opposite entry in "Balance" column, on the debit side, in black ink. At
this state, the sheet is like the Leger when ready to close.
You will now transfer the difference of Stock, as shown in the " Face of Leger," into
the column appropriated for it, headed " Stock;" then follow with the next account in
order, taking its difference into "Profit & Loss," or "Balance," agreeably to its nature;
and thus continue until all the accounts in the "Face of Leger" have been transferred.
In each speculating property account which has a balance of property unsold, as shown
by the red ink entry in "Face of Leger" column, this balance must be counted in as a
credit to the account, and then the difference must be transferred into "Profit & Loss."
After finishing all these transfers, "Stock," "Profit & Loss," and "Balance" only
remain open, and the Balance Sheet corresponds to the Leger when ready for taking
the Second Trial Balance.
Finally, close "Profit & Loss" into "Stock," when the differences of the "Stock"
and "Balance" columns should just equal each other, and should both show your Net
Capital, or Net Insolvency.
Footing up these columns completes the Balance Sheet, which will icw be found to
agree with your Leger when closed.
Balance Sheets are given for Sets I and IV.  You may make these out for your
self, and also make those for Sets II, III and V.
NOTE.-When the personal accounts are numerous, they may be summed up together,
under two heads, "Personal %7, due me," "Personal %7  I owe." See page 168 High
School edition, or 238 Counting-House edition.
114




r  _____*                 ~BALANCE       SHEET, LEGER, SET            I.
Philadelphia,'      Face of Leger.      Profit & Loss.        Stock.             Balance.
January 31st, 1852.       Dr.       Cr.       Dr.       Cr.      Dr.       Cr.       Dr.       Cr.
Stock.. 1                               5,81500..5,815 00
Merchandise.            1   1,32040                       1202 10..           2,522 50
Cash..             1   3,079198  t252250..                                       3,07998
Bills Receivable.           1,590 38...        1,590 38
Philip Somers.          2     340100......                 340 00
Bills Payable..        2.          1,990 00....                              1,99000
Elihu Barnes.. 2.              54750.....54750
Thomas Carpenter & Co.      2  856 74..856 74
Store Expenses.2       205 001            205 00
r  Martin Pemberton.        2     500 00....500,00
Samuel W. Fairburn..3      40000....40000
Personal Expenses.       3      60 _001            60 00
8,352501  8,352150
To Stock, for Net Gain  93710.                        93710
l,202lO  1,20210'
Net Capital  6, 752 0  10   _____1
6,752101 6,75210    _        __
Total Resources and Liabilities  9,289 60  2,537 50
Net Capital, as pr. Stock ~.   6, 752 10
* You can here insert your name.                  9,28916011 9,289,60
t Bal. of Mdse. remaining unsold, as pr. Inventory.
I-...-__                             --             ii




SEYMOUR & FITCH'S BALANCE SHEET, LEGER, SET IV.
St. Louis,        Face of Leger.  Profit & Loss.  Bela N. Seymour.  Albert Fitch.  Balance.
April 30th, 18-52.  Dr.    Cr. Dr.  Cr.  Dr.  Cr.           Dr.    Cr.    Dr.     Cr.
Bela N. Seymour.  1         8,500 00.....       8,50000
Albert Fitch.1.            8,450 00............     8,450 00
State Bank of Missouri. 1 1,240 35......1,240 35
Steamboat Sultana Stock  1...  75000      75000
Bills Payable. 2          100......126 00
Cash....   2   68385.....                                 68385
Real Estate Pike Co..  3...  785 00..  785 00
Bonds & Mortgages Payable 3.. 11,000 00......               1,000 00
Real Estate Main St..3 19,40000         3,1000....22500 00
r Profit & Loss        3   45000 2'.00 45000
w Steamboat Sioux Stock  4 5,93665  o          6335..                          6,0000
Interest & Discount  4    5 15'00    *. 5.15
Bonds&Mortgages Receivable 4 1,500 00'..... 
State Bank of Missouri Stock 4  395 00  50000  10500..                        500 00
29,611 00 29,611,00
To Seymour, for'/, Net Gain 2, 17110 I  2,174 10
".Fitch,  " " "  " 2,1' I7t1                      2,17410
4,803'35_4,8031
Nett Capital 10,67410______
10,674 10 10,674 10
ANet Capital 10,624 10 ___
10,624|10 10,62410 __
Total Assets and Liabilities 32,42420 11,126;00
B. N. Seymour's Net Capital  10,674 410 
Albert _Fitch's  "  "       10,6241 
32,424 20 32,424|20




LEGER ACCOUNTS.
IF you have written up the several preceding Sets of books, individual and partnership, you have
been made acquainted with the main facts and principles which govern the science of Double Entry
Book-keeping, in journalizing, posting, opening and closing Legers, and making out exhibits therefrom. Before proceeding further, it will be well to note the application of these principles to the
different Leger accounts, tracing out the reasons for every debit and credit therein contained, and
thereby fixing in the mind such facts as are necessary to guide you in your future progress. I shall,
therefore, here furnish a concise explanation of the various accounts which occur in the more simple
business operations, omitting such as pertain exclusively to Shipping and Commission business for a
subsequent part of the Counting-House edition.
Observe the fact, that the ruleforjournalizing is constantly applied in these explanations; thus
showing that it is not only of utility as an assistant in journalizing, but is the main key for unlocking
all the treasures of the science.
Cash.
The Cash account is kept to show the amount of cash received, the amount paid out,
and the balance on hand at any time.
Cash costs value, and is debited, when it is received; consequently, the debit side
shows the amount received.
Cash produces value, and is credited, when it is paid out; consequently, the credit
side shows the amount paid out.
The balance on hand is ascertained by deducting the total credit from the total debit.
The debit side is always the larger as long as there is any cash on hand, since cash must
be received before it can be paid out.
This account is closed "By Balance."
NOTE.-When no Balance account is opened in the Leger, the entry in closing Cash is "By Balance to new account,"-and so in
similar closures.
Merchandise, and other Speculating Property Accounts.
Merchandise account is kept to know the cost and proceeds of merchandise; and as
a consequence, the gains or losses thereon.
Merchandise costs value when it is purchased-it is debited when it costs value-and
consequently the debit side shows its cost, or purchases.
Merchandise produces value when it is sold-it is credited when it produces valueand consequently the credit side shows its proceeds, or sales.
When all is sold, the difference between the two sides will be a gain or loss. If a
portion of goods remains on hand unsold, this balance must be credited to the account,
prior to closing, as an offset thus far against its cost.
If the debit side is the larger, it is closed " By Profit & Loss," if the credit side is the
larger, "To Profit & Loss," always into Profit & Loss.
Real Estate, Bank Stock, Rail-Road Stock, Steamboat Stock, Shipment accounts,
Adventure accounts, and all other speculating property accounts, are kept for the same
purpose, and treated in the same manner as Merchandise account.
Personal Accounts.
Accounts are kept with persons to show your business dealings with them. A person
is debited when he is the occasion of any outgo or expenditure to you; in other words,
whenever he costs you value; and he is credited whenever he produces you value in any
way.
The debit side shows what the person owes you.    The difference shows the balance
The credit side shows what you owe the person. J    either due you or due hine
These accounts are closed either "To Balance" or "By Balance."
117




LEGER ACCOUNTS (continued).
Sundry Debtors. Sundry Creditors.
SUNDRY DEBTORS.-This account is the representative of persons who owe you, and
is used to avoid opening numerous petty accounts upon the Leger. It contains entries
to persons with whom your dealings are too limited to open a separate account to each.
On the debit side of the account, in the Leger, instead of writing "To Merchandise,"
(or "To" whatever other title constitutes the balancing entry,) it is customary to place
the name of the person who is debtor, thus-" To John Barbour," " To Samuel Black,"
&c.,-and by this arrangement you can see in the account who it is that owes you.
Then each credit is commonly posted on the same line as the debit which it cancelsleaving a blank space opposite to the names of such persons as have not paid.
The closure is "By Balance."
SUNDRY CREDITORS.-This account is exactly the reverse of Sundry Debtors, in its
treatment and the mode of entry to it:-and is kept for the same purpose, viz. to avoid
opening numerous petty accounts upon the Leger.
NOTE.-When no Balance account is opened, these accounts would be permitted to remain unclosed, as each line constitutes in fact
a separate account, and has its own independent balance.
Bad Debts, or Suspended Debts.
Into this account are transferred such personal accounts as are considered of too
doubtful a character to be relied upon as constituting a part of your assets. It is
closed "By Balance," but whenever any portion is positively ascertained to be bad,
that portion is closed into "Profit & Loss."
Bills Receivable.
The object in keeping this account is that you may know the amount of other persons'
notes received, the amount that has been paid, and the balance yet due you.
Whenever you receive a note, it costs you value, and this account is debited; therefore
the debit side shows the amount of notes received. When a note which you hold is paid,
it produces you value, and this account is credited; therefore the credit side shows the
amount paid. The debit side is always the larger, if either, and the excess shows the
balance of notes on hand unpaid.
When all the notes you hold are paid, this account closes itself; but if any remain
unpaid, it is closed "By Balance."
Bills Payable.
Bills Payable account is kept that you may know the amount of your own notes issued,
the amount taken up, and the balance still outstanding against you.
Whenever you issue a note, it produces you value, and Bills Payable account is credited, hence the credit side shows the amount of notes issued. When a note which you
have issued is taken up by you, it costs value, and Bills Payable account is debited,
hence the debit side shows the amount taken up.
The credit side is always the larger, if either, and the excess shows the balance of
notes outstanding unpaid.
When all the notes issued are paid, this account closes itself, but if any remain unpaid,
it is closed "To Balance."
Bonds & Mortgages Receivable.
Bonds & Mortgages Receivable are a class of Bills Receivable, and might be.kept
under that head, but it is usually preferable to open a separate account, which is treated
precisely like Bills Receivable.
118




LEGER ACCOUNTS. (continued).
Bonds e4 Mortgages Payable.
Bonds & Mortgages Payable are a class of Bills Payable. This account is treated
precisely like Bills Payable account.
Bank.
When a Bank account is kept, it is similar in its treatment to Cash and Bills
Receivable, the debit side showing the amount of value deposited in bank, and the credit
side the amount checked out: consequently the difference is a balance in bank-closed
"By Balance."
Generally no Bank account is kept in the Leger, and sums of money in bank are
counted as cash on hand in balancing the Cash account. Your dealings with the bank
would then be regulated by the Bank-Book and Check-Book.
Premium, Interest, Discount, Exchange, Commission, Guarantee, Insurance, Expenses, Charges, Sfc.
These and similar accounts are kept to ascertain what they cost you, what they produce you, and, as a consequence, whether you gain or lose thereon.
Excess of debit shows a larger amount of cost than proceeds, and a consequent loss
upon the account; while excess of credit shows a larger amount of proceeds than cost,
and a consequent gain.
These accounts are always closed into "Profit & Loss."
Remittances.
Remittances account is used for preserving a record of sums sent to agents to be
applied by them for your benefit, according to your direction.
This account costs you value, when you send the money abroad, and is debited;
hence the debit shows the amount remitted to your agent.
It produces you value, when the money previously charged to it is used in transacting
your business, or is remitted to you again; hence the credit shows the amount disbursed
by your agent. The difference shows a balance still in the hands of the agent, and is
closed "By Balance," the debit being always the larger, if either.
This account may also be used for preserving a record of sums remitted to you, to be
disbursed for others. In this case the credit side would receive the first entries, and
would be the larger so long as any funds remained in your possession; and therefore
the closure would be "To Balance."
Loans.
This account is used as the representative of persons to whom you loan and of whom
you borrow money.
The debit side contains sums loaned by you to others, and payments by you of
moneys previously borrowed of others, because in these cases the Loansaccount costs
value.
The credit side contains sums borrowed by you of others, and payments by others of
moneys previously loaned to them, because in such cases the Loans account produces value.
If the debit is larger, it shows you have money due you on loans-if the credit is
larger, it shows that you owe borrowed money.
It is closed "To" or "By Balance."
119




LEGER     ACCOUNTS.        (continued).
Profit 4' Loss.
This account is the receptacle of your gains and losses in business. During the
business, any outgo or expenditure which has no other appropriate account for its reception, is debited to this account, and any income which cannot properly be classea under
another head, is credited to this account. In closing the books, all gains and losses
are transferred into this account, losses being placed on the debit, and gains on the
credit, as in the accounts from which the transfer is made.
Therefore:-The debit side contains losses.
The credit side contains gains.
The difference shows net gains or losses.
This account is closed into Stock, or into the partners accounts.
Stock.
This is your representative, when conducting business without a partner, and is used
instead of your own name.
Debts at starting, sums drawn out during the business, and net losses at closing, are
placed upon the debit side of Stock:-Effects invested at starting, sums invested during
the business, and net gains at closing, are placed upon the credit side.
After receiving the gains or losses, if the credit of this account is the larger, the
excess is your net capital; if the debit is the larger, the excess is your net insolvency.
It is closed into Balance.
Partners'.ccounts.
The debit side of a Partner's account contains debts assumed by the firm for him,
either at starting or during the business, sums received by him from the firm, and his
share of the net losses at closing: The credit side contains his investment at starting,
sums invested during the business, and his share of net gains at closing.
After receiving the gains or losses, an excess of debit shows net insolvency, an excess
of credit net capital. The account is closed into Balance.
Balance.
When this account has received all the balances which are closed into it, the debit
side contains the available means of the individual or firm whose business is represented,
consisting of property on hand, and balances of accounts due, styled resources or assets.
The credit side contains the indebtedness of the individual or firm, styled liabilities.
If the difference be a debit excess, it is net capital; if a credit excess, it is net
insolvency.
The balance brought down from Stock account closes this account.
In a partnership, the balances from the several partners' accounts close it.
N. B. THE FINAL PROOF OF DOUBLE ENTRY BOOK-KEEPING consists in the agreement of Stock and Balance
differences; and is the result of an arrangement to bring all the gains or losses of the business through
Profit & Loss into the account of Stock, thus increasing or diminishing that account just in the same proportion that the assets and liabilities are increased or decreased, as shown in the Balance account.
In the closure of the Legers to the first three Sets of books given in this work, a Balance account has
been used, believing that you would thereby obtain a better knowledge of the agreement between accounts
which show gains and losses, and accounts which show assets and liabilities. In actual business, however,
this account is seldom, or never, used, and it is therefore omitted in the other Legers given. But the same
principles apply in closing Legers without the Balance account as with it; and the SAME PROOF exists, since
the assets and liabilities are as really contained in the Leger, although found under the various accounts
usually closed into Balance. (Continued on page 183 Counting-House edition.)
120




QUESTIONS ON LEGER ACCOUNTS.
For what purpose is the Cash account kept?
What does the debit side show, and why?
What does the credit side show, and why?
How is the balance on hand ascertained?
Whichside must be the larger, if either? How is the account closed?
Why is Merchandise account kept?
What does the debit show, and why? What does the credit show, and why?
When all is sold, what will the difference between the two sides be?
If a portion remains unsold, what is to be done prior to closing?
How is this account closed?
Why are Real.Estate and other speculating property accounts kept, and how treated?
For what object are personal accounts kept?
What is shown upon the debit? What upon the credit? What by the difference?
How are these accounts closed?
Of what is the account of Sundry Debtors the representative? Why is it used?
What does it contain? How are entries made therein? IHow closed?
Explain the account of Sundry Creditors, and its use.
Explain Bad Debts, or Suspended Debts.
For what is the account of Bills Receivable kept?
What does the debit show? What does the credit show?
Which side is the larger, if either, and what does the excess show?
How do you close this account?
Explain the object of Bills Payable.
Explain the credit-the debit. Which side is the larger, if either?
How is this account closed?
Explain Bonds & Mortgages Receivable. Explain Bonds & Mortgages Payable.
To what is Bank account similar in its treatment?
What does the debit-the credit-and balance of this account show? How closed?
is a Bank account usually kept in the Leger?
Why are accounts kept with Premium, Interest, Expenses, and the like?
What is shown by an excess of debit? What by an excess of credit?
How are such accounts closed?
For what is Remittances account used?
When do you debit, and when credit Remittances, and why?
Which side of Remittances is usually the larger and how is the closure made?
For what other purposes may this account be used?
What does the Loans account represent?
What does the debit side contain? What does the credit?
What does the difference show, and how is the account closed?
Of what is Profit & Loss the receptacle?
During the business, with what is it debited and credited?
In closing the books, what are transferred into it?
What does the debit contain? What does the credit?
What does the difference show? How is the account closed?
Whom does Stock represent, and instead of what is it used?
What items are placed upon the debit side? What upon the credit?
How does it show the net capital, or net insolvency?
How is it closed?
What does the debit, and what the credit of a Partner's account contain?
After receiving the gains or losses; what does.the difference show? How closed?
What is contained on the debit side of Balance account? What on the credit?
What does the difference show? How is the account closed?
Wherein does the final proof of Double Entry Book-keeping consist?
Of what is it the result?
Is Balance account generally used in business?
Does the same proof of correctness exist in closing without a Balance account as with it?
Q                         121








THOMAS IARVEY & CO.
SET YI.
FOREIGN SHIPPING AND GENERAL COMMISSION
BUSINESS.
123




EXPLANATORY REMARKS, SET VI.
IN every thing connected with this Set, my endeavor has been to make it pre-eminentlypractical. To accomplish this the better, I visited, in the spring of 1849, some
eight or ten of the heaviest shipping-houses in New York and Philadelphia, and conversed at length with the Principals, and with their Book-keepers, on the nature of
foreign transactions; the port-charges, duties, and other expenses incidental to trafficking at foreign ports; the method of making payments in, and the currency of
different countries, &c. &c.  I procured actual foreign Invoices, Account-Sales, and
Account-Currents: examined into the method of keeping books adopted by the different
Accountants with whom I conversed, and compared their ideas with my own: had
interviews also with several gentlemen who were formerly Captains in the East India
trade: and have thus striven to embody the experience of many, for the good of all who
may take the trouble to investigate the following pages.
There are some details connected with this business which are too extended to be
embraced within any limits that could be reasonably appropriated to it, but a little
thought will readily supply them. Such details as are given may be relied upon for
accuracy, especially in the Adventures to Canton and the West Indies, in which the proportionate expenses, the time required to make the voyages, and the season of year
best adapted to them, have been carefully arranged.
The length of the Canton voyage has forced me to occupy about a year's time with
this Set, and I have divided this time into three periods of four months each, in order
to represent, so far as the closing of the books and the agreements of the partners are
concerned, a three years' business-the first two years with two partners, and the last
with three partners. At the end of the first year (represented by four months) the
accounts are closed in the Leger, by bringing the balances down to new account; and
at the end of the second, when another partner enters the Firm, the books are supposed
to be full, and new ones to be purchased, into which the business is transferred. The
two Day-Books and Legers are distinguished by being lettered "A." and "B."
The Cash-Book, in conformity with the usual practice of Shipping-houses, is made one
of the main books of original entry, and then, at the end of every month, the entries
from it are transferred into the Day-Book, from which all postings are made to the
Leger. By this means, the Cash account, to which the debits and credits are very
numerous, receives but one debit post and one credit for each month.
NOTE.-Interest, in this Set, as throughout the work, is calculated at six per centum, although seven per centum is the legal interest
in New York State, the rate varying in different States according to special statutes therein enacted.
CASH-BOOK, SET VI.
THE Cash-Book is always an important book, for the Cash account is found to be the
most difficult to keep correctly of the whole list of accounts, because Cash is the basis
of all trade, and is constantly passing out for purchases and expenses, and coming in
for debts and sales.
In Double Entry, as well as in single, the debit side of this book contains all cash
received, and the credit side all cash paid out, and the difference between the two sides
(or the debit excess) should always show the exact amount of cash on hand, countingif you keep no Bank account in the Leger-the amount in bank, as well as that which
is not in bank. This balance should also agree, at all times, with the balance of the
Cash account in the Leger, when that account is posted up.
In connection with Sets I to V inclusive, a Cash-Book would be only for the purpose
just mentioned, to preserve the Cash account from errors; but, as used in this Set, it
has another and still more important office, for it is the exclusive and only book of
original entry for cash transactions, and the Leger titles (as well as the explanations)
should be carefully ascertained and correctly recorded, otherwise the Day-Book entries
therefrom will be erroneous. Although generally the Cash-Book may be balanced daily,
or at such times and as often as suits the taste and convenience of the book-keeper, yet,
as here used, it will be found more convenient to make a formal balance of it but once
a month; in order that the monthly total debit footing of this book (less the balance
124




CASH-BOOK         (continued).
brought down at the commencement of each month) shall agree with the gross amount
of the entry "Cash To Sundries" in the Day-Book; and that the total credit footing
(less the balance at the close of each month) shall agree with the gross amount of the
entry " Sundries To Cash" in the Day-Book. But once a week, or as often as it is
wished to make trial of the correctness of the Cash account, the debit and credit columns
may be footed up on a scrap of paper, and then the amount of cash in bank (as shown
by the Check-Book) and the amount in Safe may be added together, and if their sum
be equal to the difference of the cash columns, it proves the account correct.
Some transactions require entries on both the debit and credit sides of the Cash-Book
at the same time, as, for example, on the 10th Nov., we have Cash Dr. " To Bills Receivable, No. 8, discounted at Phenix Bank, $5,530.42," as if the firm actually received
the full amount of the note; and then, on the opposite side, Cash Cr. "By Discount
on Bills Rec., No. 8, pr. contra," for the discount on the note.
In making out Account-Sales and Account-Currents, the Cash-Book, which is not
posted until the end of the month, must be examined, to see if any items are entered
on it which will affect the Account-Sales or Account-Current. So also in the settlement
of accounts with individuals.
LEGERS, SET VI.
THE accounts of Ship Massachusetts and Adventure to Canton are both left open in
closing Leger A, because there is no means of ascertaining the value of the property
unsold belonging to either of them. As Insurance has been effected thereon, however,
it may be considered safe for the firm to estimate each of these accounts as secure for
its cost thus far, and to let them remain open, counting nothing gained or lost upon
them as yet.
There are various ways of transferring accounts from one Leger to another. Some
open a Balance account in the old Leger, closing all the accounts into it, as shown in
the first Sets given in this work, and then make a Day-Book entry of the effects and
debts on commencing the new business. But the method here shown, of transferring
the differences of the accounts direct from one Leger to the other, answers the purpose
equally well, when all the accounts are to be transferred, and saves considerable useless
writing. Great care should be taken, however, to have equal amounts of debits and
credits appear in the new Leger at starting, since, if there is not an equilibrium, the
Leger will ever after be out of balance; just as a pair of scales, with one side heavier
than the other, if you continually add equal weights to the two sides, will never hang
true.   To be sure, therefore, that you are in equilibrium, it will be well always to take
a Trial Balance of the new Leger immediately after opening all the accounts therein.
INSTRUCTIONS FOR WRITING UP, SET VI.
In the Counting-house edition, the Day-Books, Cash-Book and Legers are given, because Accountants and others
who use it as a book of reference will thereby be better accommodated; and where it is adopted as a text-book in Commercial Institutions, the pupils will be of sufficient age and discretion to consult their own best interests by not consulting the book until after they have finished the work for themselves. But in the High-School edition, these books
are omitted, and are inserted in the Key, for the use of teachers or of private students.
The history of the business is given, as in Sets IV and V, and from this the pupil will make out his Day-Books and
Cash-Book, first on loose sheets of paper for correction, and then in the blank books which are prepared for them.
Transactions in no wise connected with cash are to be entered only in the Day-Book-exclusive cash transactions, only
in the Cash-Book-and those of a mixed nature, in both Day-Book and Cash-Book, as elucidated. At the end of each
month transfer to the Day-Book all the entries made in the Cash-Book during the month. Commence with the debit
side-" Cash To Sundries"-and enter the various receipts to the credit of the proper accounts, and place together th
several sums received at different times from the same account, so as to add up and post them in one amount to th
Leger. This renders it necessary to look over the whole of the Cash debits carefully for each account entered, to find
all the receipts therefrom; and, to avoid omissions and errors, check each sum in the Cash-Book, as soon as journalized. To afford convenient reference from the Day-Book to the Cash-Book at any time, affix to each sum its proper
date. Having completed the debits, next journalize the credit side, saying "Sundries To Cash," and debiting all
accounts for which payments have been made during the month.
The two columns for dollars and cents are not used to distinguish debits from credits, but the first is for items, and
the second for the extension of sums total. In posting the entries transferred from the Cash-Book, the last day of the
month may be used for the date in the Leger.
_     Be particular and make your own additions, extensions, and other calculations, wherever they occur in any
of the books. In the Elucidations, "[D.-B.]" signifies "enter in the Day-Book," and "[C.-B.]"-"enter in the
Cash-Book."
125




HISTORY AND ELUCIDATIONS, SET VL
New York, July dd, 1852.
Thomas Harvey and Salmon P. Nixon have this day formed a partnership for conducting a
foreign shippinq and general commission business; the parties agreeing to furnish equal
capital, and to share alike in gains and losses.  No Interest account is to be kept.  Settlements are to be made yearly, and each partner's share of gains, if any, accruing from the
business, to be added to his account, as a new investment. The partners can draw out funds,
from time to time, as needed for private use.  Title of Firm-" Thomas Harvey & Co."
Thomas Harvey accordingly invests as follows:
Cash in Phenix Bank                                            9,000.00
Ship Massachusetts, valued at                                 25,000.00
A Note against Bagley & Thompson, due Aug. 10th, No. 1,         1,000.00   $35,000.00
Salmon P. Nixon invests
Cash in Bank of Commerce                           10,750.00
Do. on hand in Safe                                   318.75 11,068.75
A Note against Wim. Longfellow, due July 20th, No. 2, 4,500.00'" cc  A   JonasSavage&Co.," Aug. 30th, " 3, 2,225.50
"  "     "   Ezra Coe & Co.,   " Sep.    8th, " 4,   645.00
c"        "   John Vanarsdale, " Nov.      2d, " 5, 1,960.75   9,331.25
Ginseng, amounting, pr. I.-B., fol. 1, to                     14,000.00
Store Fixtures, valued at                                        600.00   $35,000.00
By agreement, the Notes are to be received by the Firm without Discount.
1. Ship Massachusetts and Bills Rec. cost the firm value. T. Harvey produces the firm value. [D1.-.]
2. Bills Rec., tMdse. and Expenses cost the firm value. S. P. Nixon produces the firm value. 
3. Cash costs the firm value in their indebtedness to T. Iharvey. ) [.-B.]
4. Cash costs the firm value in their indebtedness to S. P. Nixon. j 
9th
We are preparing the Ship Massachusetts for a voyage to Canton, China; and have freighted
her in part with Merchandise consigned to Hughes, Miller & Co., of that city, to be sold for
our %  and risk, as pr. O.-I.-B., fol. 1, to wit:
Drills, Bo't of A. A. Lawrence & Co., pr. I.-B., fol. 1, on our Notes,
No. 1 @   4 mos for        14,000.00
2c 2"    6  "   "         14,000.00
3 "     8  "   "         14,000.00 42,000.00
Ginseng from Store, invested by S. P. Nixon, as pr. I.-B., fol. 1, 14,000.00
Lead, Bo't of Haines, Hampton & Co., pr. I.-B., fol. 1, pr.
Check on Bank of Commerce, Am't                              7,000.00   $63,000.00
Passed our Note No. 4, @ 12 mos., to the Atlantic Insurance Co.,
for Ins. on $72,000, @  12 %                        1,080.00
And for policy                                           1.25  1,081.25
Com. on $63,000, @   22 %                                      1,575.00      2,656.25
Due, pr. Average, Nov. 12th,                     $65,656.25
It matters but little what title you give this voyage, so that whatever name is once assumed be preserved uniformly in
making all subsequent debits or credits to it. It might be termed "Adventure No. 1," " Adventure pr. Ship Massachusetts," " Adventure to Canton," or any other title you please to give. I have called it " Adventure to Cantonl" You will
perceive that the sum insured is about 10 per cent. larger than the Am't of the Invoice. This is customary in Marine Ins.
This Adventure has now cost value, and Bills Pay., Mdse, Haines, Hampton & Co., and Con. have produced value. LD.-B.]
Again, Haines, Hampton & Co. have cost value in Cash. [C.-B.]
_  ____                            _ ____
Agreed with John Hollingshead & Co. to bring home for them, from Canton, in the Ship Massachusetts, Fillmore master, 250 Tons Freight ( $20 pr. Ton, allowing them also the privilege of sending out Freight to Canton, by said Ship, to an amount not exceeding 200 Tons,
free of charge.
A Captain, 1st and 2d Mates, Carpenter, Steward, Cook, 10 Seamen, and 2 Boys, compose the
crew of the Ship Massachusetts.
No Day-Book entry is required for this history. It is a small piece of information furnished you for use hereafter.
126




HISTORY AND ELUCIDATIONS, SET VY.
New York, July 12th, 1852.
Bo't of various Persons, as pr. Bills, the following Provisions for Ship Massachusetts:
Pr. Check on Phenix Bank, 20 Bbls. Beef @            $11,          220.00
(t "        "      "       "(  20   "     Pork   "    9,          180.00     400.00
"     "    "   Bank of Cor. 100"          Bread"      3,          300.00
"     "     "' "(         "    Cabin Stores and Small Stores, 450.00         750.00
Paid Cash for getting 4,000 Gals. Water on board,                               10.00      $1,160.00
Keep an account of the outgoes for, and income from the Ship under its own head, separate from the Adventure.
Ship Massachusetts costs value. Cash produces value. [C.-B.]
14th
Rec'd the Passage-money of 6 Passengers to Canton, pr. Ship Massachusetts, (which we ha7e
deposited in Bank of Commerce,) @         $300,                                            $1,800.00
Ship Massachusetts produces value in Cash. [C.-B.]
The fact that this Cash was deposited in the Bank of Commerce does not alter the entry, and need not be mentioned in
the Cash-Book. It is given here that you may be able the better to understand the Check-Book. You will find minute
details of the business frequently given in this history, for the purpose of making the whole transactions clear to your
mind; but which need not be written in your books. While omitting them, however, you should be careful to leave out
nothing which is important to be recorded.
-______________ -16th
Paid the New York Ins. Co., by our Note No. 5 @ 12 mos., for Ins. on the Ship Massachusetts,
for $27,500, @       7 %                                                    1,925.00
And for policy                                                                   1.25      $1,926.25
Ship Massachusetts costs value in Bills Pay. [D.-B.]
Paid Custom House Charges in Cash, for Clearance of Ship Massachusetts, which sails this day
for Canton,                                                                                     $5.60
Ship Massachusetts costs value in Cash. [C.-B.]
— ______________________________ 20th
Bills Rec., No. 2, drawn by Win. Longfellow, favor of S. P. Nixon, deposited in Phenix
Bank on the 10th inst. for Collection, comes due this day, and is paid at the Bank
Am't                                                                                       $4,500.00
Cash costs value in Bills Rec. [C.-B.]
In a real business, the Cash-Book would here require an entry of the Cash received, the Bill-Book a memorandum of the
payment of this Note, and the Check-Book a record of the deposit in Bank of the proceeds thereof. You may make the entry in
the Cash-Book only for the present, but refer to the Bill-Book and Check-Book given, to see the connection between the entries.
Aug. 2d _
Chartered of Hollister, Son & Co., the Bark Phillis, of 200 Tons register, for a voyage to
Kingston, Jamaica, and back to New York, by way of Havana, with 25 lay days in the two
ports.   We are to pay all foreign Port Charges, and $2,000 Charter-money-one-half considered earned at Havanna.        Demurrage, $25 pr. day.
No Day-Book entry is here requisite.
Lay days are the days agreed upon for a vessel to remain in port. Demurrage is the forfeiture for each day she is
detained beyond the time specified in the Charter-party-which is the agreement drawn up between the parties when a
vessel is chartered.
Passed our Note, No. 6, @ 12 mos., to the American Mutual Ins. Co., for an open policy of
Insurance, to cover all shipments by us or consignments to us, during the year, within the
limits of the United States, or the West Indies, until the premium on the same amounts to
the Note,                                                                                  $2,000.00
This method of Marine Insurance is quite customary. The Ins. Co. takes a Note as security for a certain amount of
premium, and furnishes the House insuring with an open policy. Then, at any time, when the House ships goods or
receives information of goods being shipped to them, they notify the Ins. Co., and get it entered on this open policy. At
the end of the year, if no losses have occurred, settlement is made, and so much of the Note is paid as has been used up b*
the Prem. on goods insured. A per centage is also charged by the Co. (usually 10 per cent.) on the Bal. of the Note. I1
goods so insured are lost, the Note is returned in part payment thereof.
Here the American Mutual Ins. Co. has cost value in our Note.  )[D-B.
Bills Pay. has produced value in the obligation of the Co. on open policy.  [.B]
127




HISTORY AND ELUCIDATIONS, SET VI.
New York, August 2d, 1852.
Bought of Morton & Godwin, pr. Check on Phenix Bank,
Flour, pr. I.-B.,                                                 $4,540.00
Bought of Otis & Brother, pr. Check on Bank of Commerce, Meal and Corn,                                             $3,540.00
Shipped the above on board Bark Phillis, Bingham, master, bound to the West Indies, and
consigned as pr. O.-I.-B., p. 1, to Daniel Starr & Co., Kingston, Jamaica, to be sold for our
%  and risk.   Am't                                                                8,080.00
Insured for the voyage in American Mutual Ins. Co., on open policy,
$9,000, @   3 %                                          270.00
And for policy                                              1.25     271.25
Drayage and Labor                                                      71.50
Commission on $8,080, @    22%                                       202.00         544.75
$8,624.75
Adventure pr. Bark Phillis costs value.
Morton & Godwin, Otis & Brother, American Mutual Ins. Co., Charges, and Commission have each produced value. [D.-B.]
Charges is an account to which we credit all sums charged for drayage, labor, storage, weighing, &c., on goods consigned to
us to be sold, and debit sums paid draymen and laborers, when their bills are rendered, or their month's wages is due.
Again, Morton & Godwin and Otis and Brother have cost the firm value in cash. [C.-B.]
10th
Bagley & Thompson's Note, No. 1, Thomas Harvey's favor, fell due and was paid this day, at
the Phenix Bank.     Am't                                                       $1,000.00
Bills Rec. produces value in Cash. [C.-B.]
24th
Paid Thomas Harvey Cash on %                                                         $130.00
30th
Jonas Savage & Co.'s Note, No. 3, favor of S. P. Nixon, fell due and was paid this day, at the
Bank of Commerce.     Am't                                                       $2,225.50
31st
Paid S. P. Nixon on %    pr. Check on Bank of Commerce                  125.00
"   Wages of Clerks to date in Cash                                     95.00        220.00
Sept. 8th
Note No. 4, favor of S. P. Nixon, Ezra Coe & Co. drawers, was this day paid at the Bank of
Commerce.    Am't                                                                  $645.00
22d
Rec'd from John Gundry & Co., Cincinnati, 500 Bbls. Flour, to be sold for their %      and risk.
Am't, pr. Invoice, $1,579.75.
Paid Freight on same, pr. Check on Phenix Bank                          425.00
Drayage                                                                15.75      $440.75
You may keep an account of this Flour under the head of "Sales for account of John Gundry & Co.," which now costs the
Firm value to the am't of the Freight and Drayage, $440.75, and must be debited therefor in C.-B. and D.-B.
Cash produces the Firm value by paying Freight. [C.-B.]
Charges produces the Firm value in Drayage. [D.-B.]
Oct. 5th
Having rec'd advice, pr. Mail, (by Steamer to Charleston,) that an Invoice was about to be
shipped from   Havana, pr. Bark Phillis, of upwards of $14,000, we have effected an additional Ins. on open policy, in the American Mutual Ins. Co., for excess of homeward Cargo
over the $9,000 insured thereon.
$6,000, @  12 %                                                                     $90.00
Adventure pr. Bark Phillis here costs value.
American Mutual Ins. Co. produces value.
128




HISTORY AND ELUCIDATIONS, SET VI.
New York, October 11th, 1852.
Tnc Bark Phillis arrived in port this day, having reached Kingston, Aug. 27th, and Havana
Sept. 10th, and having been detained in the two ports 30 days.  At Kingston, the Flour, Meal,
and Corn were sold, as pr. the following Account-Sales received.
Sales of Aferchandise, received pr. Bark Phillis, Captain Bingham, from                 New
York, for account and risk of Messrs. Thomas Harvey s Co.
BEQUER BROTHERS, Payable @ 60 days,                           ~. d.      ~. 
500 Bbls. Flour                             ( 28s.                      700 0  0
PREVOST & DELANEY, @ 30 days,
700 Bbls. Corn Meal                         @ 18s.       630 0  0
100 Bags Corn                               "   8s.       40 0   0      67010  0
S. W. CATTELL & SON,
500 Bbls. Flour                             ( 28s.                      700 0  0
MITCHELL, ATTERBY & Co., @ 60 days,
300 Bags Corn                               @   8s.      120 0   0
300 Bbls. Corn Meal                         " 18s.       270 0   0      390 O 
~2,460 0  0
Charges.
To Cash paid Duties, 1000 Bbls. Flour                3s.       150 0  0
1000  "  Meal                  "   7d.       31 5   0
400 Bags Corn                 "   3d.        5 0   0
"     " "  Port Charges on vessel                               65 3  3
A  "   " "  Wharfage                                           30 17 9
i  "   "  Lighterage                                            24   0
"Advertising in Kingston papers                                    8  0
"Bank Discount on Sales                                         23 14 6
Prem. & Stamps on Sterling Bills Exchange in favor of
Suarez Brother & Co., Havana, @ 60 days                    33 17 6
"Com. on ~2,460 @ 5 %                                          1230   0
"Bal., being Net Proceeds of Sales, carried down            1,994 10 0 
~2,460 0  0    ~2,460 0 0
By Net Proceeds Bro't down                                      1,994 10
To a Set of Colonial Bank Bills, on Court Directors, London, in
favor of Daniel Starr & Co., and endorsed by them over to
Messrs. Suarez Brothers & Co., Havana,                      1,000 0  0
To a Set   do. - do.    do.                                    794 10 0
To a Set of Jamaica Bank Bills, on Baring Brothers & Co., London,
in favor of Daniel Starr & Co., and endorsed by them over to
Messrs. Suarez Brother & Co., Havana, (i 60 days.            200 0  0   _
~1,994 10 0   ~1,994 10 (
FJ. & O. E...
Kingston, Jamaica, Sept. 6th, 1852.
DANIEL STARR & Co.
pr. John Brown.
The Sterling Sets of Exchange obtained for the Net Proceeds of this Sale, were taken to Havana,
and there sold, as appears by the Account-Current of Suarez Brother & Co., Com. Merchants,
@  9 %  Prem., and the proceeds used by them   in purchasing Sugars for our %, as pr. tho
following Invoice.
R                              129




HISTORY AND ELUCIDATIONS, SET VI.
New    York, October 11th, 1852.
Invoice of Sugars, shipped by Suarez Brother &               Co., pr. Bark     Phillis, Captain
Bingham, for New          York, by      order, and for account and          risk  of  Messrs.
Thomas Harvey & Co.
Dols.  Rials.  Dols.  Rials.
P. B.     300 Boxes Sugar, ea. 20 arobes (25 lbs. pr. arobe)
1 to 300                     6000 arobes, @ 6 rials                      4,500  0
300 Boxes @ 26 rials                                            975  0      5,475  0
P. C.
$ 301 to 500 200 Boxes Sugar, ea. 20 arobes, @ 6 rials                     3,000  0
200 Boxes @ 26 rials                                            650  0      3,650  0
P. D.
6 501 to 600 100 Hhds. Sugar, ea. 60 arobes, @ 5 rials                     3,750  0
100 Hogsheads    $5                                             500 0       4,250  0
Charges.                                          $13,375  0
Charges.
Export Duty,       3 rials pr. Box                 $187-4
72. " Hhd.                    93-6       281  2
Cartage & Weighing, 2  "  " Box                    $125-0
4  "   " Hhd.                     50-0       175  0
Brokerage on $13,375, @   %                        --            66  7
Consul's Certificate                                              2  0        525  1
$13,900 1
Corn. on $13,900 @ 22 %                                                       347  4
E.p~ o~ 0~ E.p~                       $14,247  5
-E-. & 0. E.  Ua S. Currency, $14,247.63
Havana, Cuba, Sept. 28th, 1852.
SUAREZ BROTHER & CO.
They also paid the Charter money falling due at Havana, and the Port Charges at that place,
remunerating themselves for the excess of outlay over the proceeds of the Sets of Exchange
received from  Kingston by drawing on us for the balance, charging 12 o for negotiating the
Draft, and 3 2 as the rate of exchange required to convert it into Cash:-all of which appears
by the following Account-Current.
Messrs. Thomas Harvey &          Co.,
In Account with Suarez Brother             C Co.
Dr.           Cr.
To One-half Am't Charter Money, paid Captain                   1,000 00
" Invoice of Sugars, purchased for them                      14,247 63
" Cash paid Port Charges                                        556 00
By a Set of Colonial Bills for ~1,000, sold @ 9%o Prem. $4,844.44
",,    "         "(   " ~794.10s. "  9" "(      3,848.91
"    (" Jamaica Bank Bills for ~200 "  9"   "      968.89                   9,66224' Our draft on Thomas Harvey & Co., @ 30 d's sight $6,430.77
Less Prem. for negotiating 12 % and Exch. 3 %  289.38                  6,141 39
$15,803 63    $15,803 63
I Havana, Cuba, Sept. 28th, 1852.           E. & O. E. 
SUAREZ BROTHER & CO.
jaiance due Suarez Brother & Co. (including Prem. & Exch.) $6,430.77, for which they have
drawn on us.
Adventure pr. Bark Phillis, as shown by the foregoing statements, has cost the firm $16,093.01, and has produced the firm
$9,662.24. The total cost might be debited, and the total proceeds credited, but the same result is accomplished, and with less
writing, by debiting only the excess of cost over proceeds, or the amount for which Suarez Brother and Co. have drawn on the
firm-86,430.77.
Suarez Brother & Co., by advancing the additional outlay reqairet for the Adventure, have produced the firm value, and must
he credited the Ain't due them-$6,430.77. It might seem,that as they have remunerated themselves by drawing on us, therefore
nothing is due them, and they should receive no credit. But the Draft has not yet been presented to the firm for acceptance. When
tg accepted, Suarez Brother & Co. will receive a debit which will balance their account. See entry of the 20th inst.
130




HISTORY AND ELUCIDATIONS, SET VI.
New York, October 11th, 1852.
Paid pr. Check on Phenix Bank, Duties on Invoice of Sugar, received pr. Bark Phillis, from
Havana (Sales of Sugar,No. 1), Am't, $14,247.63, @              30 %                        $4,274.29
This is an expenditure for Adventure pr. Bark Phillis, and might be debited directly to that account, but when Mdse
belonging to an Adventure is taken into the Store to be sold, it is customary to open a Sales Account for it, as you would
for a Consignor, debiting thereto all charges and expenses, and crediting all Sales; then, when the Mdse. is all sold, the
net proceeds are transferred to the Adventure account.
Sales of Sugar, No. 1, has cost value in Cash. LC.-B.]
12th
Paid Hollister, Son & Co. pr. Check on Phenix Bank, for Bal. of Charter Money, due on the
voyage of Bark Phillis to the West Indies.                                    1,000.00
5 days'Demurrage @        $25 pr. day                                         125.00     $1,125.00
Adventure pr. Bark Phillis costs value in Cash.
-15th
Sold J. Fallstaff & Co., for their Note @ 6 mos., No. 6, 300 Boxes and 100 Hhds. of Sugar,
received pr. Bark Phillis (Sales of Sugar,No 1), Am't, pr. S.-B.                           $16,455.00
Sales of Sugar, No. 1,has produced value in Bills Rec.
18th
Sold Lyman F. Bache, for his Note @ 6 mos., No. 7, 200 Boxes Sugar, received pr. Bark
Phillis, (Sales of Sugar, No. 1,) Am't. pr. S.-B.                                           $6,240.00
After writing up your Day-Book to this point, you may post it to the Leger, so as to be able to understand more clearly
the closure of Sales of Sugar, No. 1, which occurs in the next entry. And in each closure of a Sales account hereafter
occurring in this Set, the Leger should be posted up before making the closing entry.
19th
The Sugar belonging to Sales of Sugar,No. 1, has all been sold.
Total Proceeds                           22,695.00
Less Duties entered 11th inst.            4,274.29     $18,420.71
Cooperage, Storage, and Labor                                                     55.50
Interest on Duties, $4,274.29, for 8 days                                          5.70
Our Commission on $22,695 @          22 %                                       567.38
Net Proceeds, due pr. Average June 8th, 1853, to be credited
to Adventure pr. Bark Phillis,                                            17,792.13     $18,420.71
Sales of Sugar, No. 1, has cost value in Charges, Int. and Com., and in our obligation to Adventure pr. Bark Phillis, fot
Net Proceeds of Sales.
This entry is made with a view to close Sales of Sugar, No. 1, and at the end of the month, (after the Cash entries have
been transferred from the Cash-Book into the Day-Book, and posted,) you may rule and add up that account upon the Leger.
You can trace out the details here stated as follows:-Turn to Sales of Sugar, No. 1, in your Leger, and if it is posted up to
this point, you will find two credits amounting to $22,695, which, by reference from the Leger to Day-Book, and from the
Day-Book to Sales-Book, you will see are the Total Proceeds of Sugar sold. You will also find, on the credit side of your
Cash-Book, one debit (not yet posted) of $4,274.29, which you will see is the charge for Duties paid. Deducting these Duties
from the Total Proceeds, you have $18,420.71, the Am't which must be debited to the account to close it. This Am't is made
up of the following items:
Cooperage, Storage, & Labor, which are supposed to have been preserved in small memorandum books, kept for the purpose, until this time. Int. on Duties from time of payment, so as to bring the charges all up to the present date, for convenience in averaging. Com. of firm on Sales $22,695, at 22 %; and Net Proceeds, due Adventure after paying all charges.
20th
Accepted a Bill of Exchange of Messrs. Suarez Bro. & Co., Havana,
on us, (    30 days sight, for                                                              $6,430.77
Suarez Bro. & Co. have cost the firm value in Bills Pay.
22d
There is Interest to be charged Adventure pr. Bark Phillis, as pr. Account-Current of date,
(A.-C.-B., fol 1,)                                                              699.09
The Net Gains, as shown by the Account-Current, are                                822.52      $1,521.61
Adventure pr. Bark Phillis has here cost value, and Int. has produced value, $699.09:-and in order to transfer the Net
Gains to Profit and Loss account, you must also debit the Adventure, and credit Profit & Loss with $822.52-thus making
the entry " Adventure pr. Bark Phillis To Sundries."
30th
Paid Draymen and Laborers in Cash,                                                  94.75
Wages of Clerks to date                                             95.00
"   Rent of Store       "    "                                       400.00      495.00        $589.75
Obtained the requisite amount of funds in hand, by checking on Phenix Bank for $600.
Charges and Store Expenses have cost value in Cash.
End of first year's business.
131




HISTORY AND ELUCIDATIONS, SET VI.
New York, November Ist, 1852.
We have agreed, pr. correspondence, to enter into a Pork Speculation in Company with Faxon,
Field & Co., Cincinnati, sharing equally with them in the expenses and proceeds thereof;
they to receive 22 % for purchasing, and we 22 % for selling. They have accordingly purchased
1,000 Bbls. Pork, and shipped to us, as pr. advice this day received, on which we have effected
an Ins. in the American Mutual Ins. Co., on open policy, for $10,000, @ 12 %. $150.00
We will call this " Sales of Pork, Co. A."
Sales of Pork, Co. A., has here cost value, and American Mutual Ins. Co. has produced value.
2d
John Vanarsdaie's Note, S. P. Nixon's favor, No. 5, deposited in the Bank of Commerce on the
18th ult. for collection, falls due this day. Am't                       $1,960.75
Cash costs value in Bills Receivable. [C.-B.]
~____ ___________- 5th
Rec'd, pr. Steamboat, Canal, and Railroad, via Pennsylvania, from Faxon, Field & Co., Cincinnati, 1,000 Bbls. Pork, (marked TH,) to be sold for their and our joint %, amounting,
pr. Invoice of the 26th ult., to $9,256.25, of which our j is           $4,628.12
Paid Freight, pr. Check on Phenix Bank,                        850.00
The Drayage amounts to                                          31.25       881.25
$5,509.37
Sales of Pork, Co. A., has cost the Firm value in their indebtedness to F., F. & Co., and in Freight and Drayage.
Enter all except the payment of Freight in the Day-Book, [D.-B.]-but place this payment in the Cash-Book, [C.-B.]
6th
Paid the Saratoga Fire Ins. Co., pr. Check on the Bank of Commerce, for Ins. on Stock of Goods
in Store, for one year, to the Am't of $15,000, @ 12 %,       225.00
Policy                                                           1.25      $226.25
You may debit Charges with this cost, and let it stand to that account, to cover some credits of Ins. which will hereafter
occur. Cash has produced value. [C.-B.]
Sold to Jeremiah Brown 500 Bbls. Pork, belonging to Co. A., @ $11          $5,500.00
Took his Note, No. 8, @ 30 days, for $5,530.42.
The Discount on $5,530.42, for 33 days, (to make it equal to Cash,) is         30.42
$5,530.42
Sales of Pork, Co. A., and Discount have produced value in Bills Rec.
Remitted to Faxon, Field & Co., pr. their Order of 1st inst., a Bill of Exchange on Bacon & Boswell, Cincinnati, purchased at par of Clark, Prime & Co., pr. Check on Bank of Commerce,
for                                                                      $5,000.00
Faxon, Field & Co. have cost value in Cash.
8th
Bo't of Caleb Johnson, on our Note, No. 8, @ 6 mos.,
150 Hhds. Cuba Molasses, 15,360 Gals., @ 19                  2 2,918.40
125   "    "   Sugar,  157,500 lbs.,  "   42                 7,087.50
500 Bbls. Lard,        100,000   "    "   51                 5,250.00   $15,255.90
Mdse. has cost value in Bills Payable.
_-        t10th
Sold to I. S. Pierson & Co., for their Check on Phenix Bank, which we have deposited,
500 Bbls. Flour-Sales for %a John Gundry & Co.-@   $5.       2,500.00
500   "  Pork -Sales of Pork, Co. A.          — " 10,75      5,375.00    $7,875.00
Sales for account of John Gundry & Co., and Sales of Pork, Co. A., havs each produced value in Cash.
Had J. Brown's Note, No. 8, due Dec. 9th, discounted at the Phenix Bank.
Am't $5,530.42, netting                                      5,503.69
Dis. for 29 days is                                            26.73     $5,530.42
Bills xtec. has produced value in Cash $5,530.42. [C-B one debit, one credit.]
Discount has cost value in Cash $26.73.  on
12th
Paid at the Phenix Bank our Note, No. 1, favor of A. A. Lawrence & Co. Am't $14,000.00
Bills Pay. has cost value in Cash.
132




HISTORY AND ELUCIDATIONS, SET VI.
New York, November 15lh, 1852.
Rendered J. Gundry & Co. an Account-Sales of 500 Bbls. Flour, consigned to us, to be sold for
their A%.  Am't of Sales, as pr. S.-B.,                                  2,500.00
Deduct ChargesenteredSept. 22d                                    440.75
Excess of credit now on Leger                                  $2,059.25
Additional Charges:
Int. on $440.75 from Sept. 22d                        3.97
Storage, Labor, Cooperage, &c.                       60.25
Commission, @ 22 %, on Total Sales                   62.50    126.72
John Gundry & Co.'s Net proceeds, due 12th inst.            1,932.53    $2,059.25
Sales for account of John Gundry & Co. has cost value in the various Charges, and in the Firm's indebtedness to John
Gundry & Co. Interest, Charges, Commission, and John Gundry & Co. have produced value-the latter by permitting
the Net Proceeds now due them to remain in the hands of the Firm.
Rendered Faxon, Field & Co. an %  Sales of 1,000 Bbls. Pork, sold for %  of  Sales of Pork,
Co. A."  Total Sales                                                    10,875.00
Deduct Charges entered                             1,031.25
"   and Commission as below                465.19     1,496.44
Net Proceeds                               $9,378.56
Interest on Charges to date                                     1.82
Storage, Labor, Cooperage, &c.                       41.50
Ins. vs. Fire, 12 % on $10,000                      150.00    191.50
Corn. on 10,875, @ 22 %                                       271.87
Faxon, Field & Co.'s i Net Proceeds, due 10th inst.         4,689.28    $5,154.47
Sales of Pork, Co. A., has cost value in Int., Charges, and Com., and in the indebtedness of the Firm to Faxon, Field &
Co., for their Share of the Net Proceeds.
Our Share of the Net Proceeds from " Sales of Pork, Co. A.," is            4,689.28
"   "     "   First Cost                 Do.           was                4,628.12
Making our Net Gains                         $61.16
You here debit Sales of Pork, Co. A., with the Gains thereon, and credit Profit & Loss. This is a mere transfer entry, to take
the Gains to the proper receptacle for them, and the Rule for determining debits and credits in transactions does not apply
_________________ 16th
Sold to James Maitland & Co., for Cash, (dep. in Bank of Commerce,)
500 Bbls. Lard. Am't, pr. S.-B.,                            5,250.00
50 Hhds. Molasses."      "9                                 1,024.00   $6,274 )0
Mdse. has produced value in Cash.
~~____~___________ -22d
Paid, at the Bank of Com., our Note, No. 7, draft of Suarez Brother & Co., Ai't $6,430.77
- _ _ _    _   _     _ -.~~~~ ~~Dec. 6th 
Sold to Stiles & Nesmith, for their Check, which we have dep. in the Bank of Commerce,
125 Hhds. Sugar. Am't, pr. S.-B.,                                       $7,875.00
-________________________               I10th
Paid James Buchanan, pr. Check on Bank of Commerce, the Bal. due John Gundry & Co., in
accordance with advice received from them, as pr. letter of 1st inst
Am't due Nov. 12th                                          1,932.53
Interest for 28 days on $1,932.53                               9.02    $1,941.55
John Gundry & Co. and Int. have cost value in Cash.
Jan. 10th, 1853.    -.
The Phenix Bank has discounted J. Falstaff & Co.'s Note, No. 6, due April 18th /53,
Am't $16,455-netting                                       16,186.23
Discount for 98 days, on $16,455, is                          268.77  $16,455.00
12th
Paid, at the Phenix Bank, our Note, No. 2, favor of A. A. Lawrence & Co. Am't $14,000.00
133




HISTORY AND ELUCIDATIONS, SET VI.
New   York, January 15th, 1853.
Faxon, Field & Co., Cincinnati, and Douglass, Forest & Co., of this City, have agreed to jolt*
us in a Company Speculation-the parties to share equally; Douglass, Forest & Co. are to
furnish White and Brown Sugars, Molasses, &c., at prices agreed upon, for two-thirds of
which we are to give them our Note, payable @ 6 mos. One-third so purchased by us is for
% of Faxon, Field & Co., and to apply against what we owe them. We are to attend to the
Business, receiving 22 o Commission, and 22 % Guarantee.
Accordingly, we have received this day from Douglass, Forest & Co. an Invoice of Loaf and
Crushed White Sugars, Muscovado Sugar, N. O. Molasses, and Rice, delivered at our Store,
free of charge. Amounting to $12,465.36.
Gave them our Note, No. 9, @ 6 mos., for our J of Invoice     4,155.12
And for Faxon, Field & Co.'s             i" "c              4,155.12    $8,310.24
We will call this " Sales of Mdse., Co. B."
Bills Payable has produced the Firm value, $8,310.24.
"Sales of Mdse., Co. B.," and Faxon, Field & Co. have each cost the Firm their t of the Invoice.
21st
Sold James Maitland & Co., on Note No. 9, @ 4 mos., a Lot of Loaf and Crushed White Sugars,
belonging to Sales of Mdse., Co. B., Amounting, pr. S.-B., to           $4,657.25
Sales of Mdse., Co. B., has produced value in Bills Receivable.
Feb. 1st 
Bo't of Bailey & Welsh, on our Note, No. 10, @ 6 mos.,
2,000 Sacks of Coffee, 131,520 lbs., @ 62z                              $8,548.80
Mdse. has cost value in Bills Payable.
5th
Shipped, pr. D. Leech & Co.'s Line, via Pennsylvania, and consigned to Faxon, Field & Co,
Cincinnati, to be sold for their and our % jointly, as pr. Correspondence,
2,000 Sacks of Coffee, pr. O.-I.-B., 131,520 lbs., @  62                 8,548.80
Insured in American Mutual Ins. Co., on open policy, $9,500, @ l21           142.50
Drayage, Labor, Weighing, Mending Bags, &c.                                 61.20
Commission on $8,548.80, @ 22                                             213.72
~ Invoice for %  of Faxon, Field & Co.         $4,483.11    $8,966.22
c "     "  "    Adventure to Cincinnati, Co. C. 4,483.11
Faxon, Field & Co. and Adventure to Cincinnati,Co. C,have cost value.
Mdse., American Mutual Ins. Co., Charges, and Com. have produced value.
19th__
Sold to Watson G. Gaylord, for his Note, No. 10, @ 10 days,
50 Tierces Rice, belonging to Sales of Mdse., Co. B.                    $2,931.50
28th
Rendered Faxon, Field & Co. and Douglass, Forest & Co., each, an %  Sales of Sugar and Rice,
belonging to "Sales of Mdse., Co. B."  Am't, pr. S.-B.                   7,588.75
Deduct Charges and Com., as below                                         496.56
Net Proceeds                                      $7,092.19
Insurance vs. Fire on $6,500, (i Am't insured,) @ 12o 97.50
Cooperage, Weighing, and Labor                       19.62    117.12
Commission and Guarantee on $7,588.75, @ 5 o                  379.44
Faxon, Field & Co.'s  i Net Proceeds, due April 27th          2,364.06
Douglass,Forest&Co.'s   "            "    "    "              2,364.06    $5,224.68
Sales of Mdse., Co. B., has cost value in Charges, Com., and in the Firm's indebtedness to Faxon, Field & Co., and Douglass, Forest & Co, for their respective shares of Net Proceeds.
As the Mdse. belonging to this Co. is not all sold, the closing entry, transferring Gains into Profit & Loss, is not now to
be made in the Day-Book. The closure will, however, be made in the Leger, and our Share of the Bal. remaining on
hand be brought down to the New Year's business.
ic
Paid Wages of Clerks,  (pr. Check on Bank of Com.,)   110.00
"  Rent of Store       "     "      "       "       400.00     510.00
"  Laborers & Draymen,"      "      "                          195.00     $705.00
End of second year's business.
134




HISTORY AND ELUCIDATIONS, SET VI.
New York, March Ist, 1853.
James L. Grant has been associated as one of the partners of this concern; the firm still to
retain its original title, "Thomas Harvey & Co." The former partners are each to share
two-fifths, and James L. Grant one-fifth of the gains or losses in business.  The partners to
receive interest on their several investments.
James L. Grant invests Cash on deposit in Phenix Bank                        $15,000.00
Cash costs the firm value. James L. Grant produces value in his investment. C.-B.]
4th
Watson G. Gaylord's Note, No. 10, deposited in Bank of Commerce on the 1st inst. for collection, was this day protested for non-payment, and returned to us  2,931.50
Paid protest in Cash                                              1.50   $2,933.00
Bills Rec. have a beginning, a duration, and an end. This Note is at an end, it having matured without being paid. It has
also subjected the firm to the expense of protest. They therefore consider the drawers responsible to them for the Note and
protest, which they retain as evidence of the obligation.
Bill Rec. has produced value in the indebtedness of W. G. Gaylord, $2,931.50. [D.-B.]
Cash has produced value in the indebtedness of W. G. Gaylord, $1.50. [C.-B.]
12th
Paid at the Phenix Bank, our Note, No. 3, favor of A. A. Lawrence & Co., Am't  $14,000.00
-~___ _________-__' 25th
Gave our Note, No. 11, @ 6 mos., for Insurance effected in the Atlantic Ins. Co., on Cargo of
Ship Massachusetts, now on her homeward trip from     Canton, for $75,500 @   12 %, and
policy                                                                    $1,133.75
Adventure to Canton has cost value in Bills Payable.
April 9th
Sold to Leonard Barber & Co., for their Note, No. 11, @ 6 mos.,
The Bal. of Sugars and Molasses belonging to Sales of Mdse.,Co. B, Am't pr. S.-B. $5,525.00
Rendered an Account-Sales to Faxon, Field & Co., and to Douglass, Forest & Co., of Sugars
and Molasses, belonging to Sales of Mdse., Co. B, Am't pr. S.-B.             5,525.00
Deduct Charges and Commission, as below                                     383.60
Net Proceeds               $5,141.40
Ins. vs. Fire on $6,500 @  12 %                                  97.50
Cooperage, Weighing, Labor, &c.                                   9.85      107.35
Commission and Guarantee on $5,525 @    5 %                                 276.25
Faxon, Field & Co.'s   j Net Proceeds, due Oct. 26th                           1,713.80
Douglass, Forest & Co.'s " c     "       "   L    "                            1,713.80
$3,811.20
We find, on examination, a Loss on the last Sales effected for %c of Mdse.,Co. B, of  $166.45
When this account was closed in the old books, the Firm's share of Mdse. remaining unsold was estimated at its cost,
$1,880.25, while their share of the Net Proceeds now is only $1,713.80. A sudden depreciation in the price of Sugar and
Molasses, owing to the market being overstocked, has caused this Loss. Debit Profit & Loss, and credit Sales of Mdse,
Co. B, to close it. [D.-B.]
21st
Note No. 7, our favor, Lyman       F. Bache    drawer, deposited in Phenix Bank on 13th
inst., falls due this day, and is paid, Am't                                $6,240.00
26th
Watson G. Gaylord has paid us Cash for his Note, No. 10, which was protested at the Bank
of Commerce on the 4th ult., and charged to his %.
Note and protest                                             2,933.00
Int. on $2,933, for 53 days                                     25.91    $2,958.91
Deposited $2,500 in Phenix Bank.
Watson G. Gaylord and Int. have produced value in Cash. [C.-B.]
30th
Sold to Peter Parker, for Check on Phenix Bank, deposited,
100 Hhds. Cuba Molasses, 10,240 Gals. @   19 /                           $1,945,60
Mdse. has produced value in Cash.
135




HISTORY AND ELUCIDATIONS, SET V1
New York, May 6th, 1853.
The Ship Massachusetts arrived in port this day, direct from Canton, and we have received from
Captain Fillmore the following Account-Sales, Invoices, and Account-Current, rendered by
Hughes, Miller & Co., Commission Merchants of that City.
4ccount-Sales of Merchandise received pr. Ship Massachusetts, Capt. Fillmore, from New York,
for account of Thomas Harvey & Co., owners of said Ship.
G. T. C.
# 1 to 500  500 Bales Drills, ea. 40 Pieces=20,000 ps.  ( $2.30          46,000 00
~501 to 600 100 Casks Ginseng, Net 270 Piculs (133 lbs. ea.)  " 50.00    13,500 00
2,000 Pigs Lead,   1,050  "                  "  6.50           6,825 00
Charges.                              66,325 00
Labor, Landing, Weighing, &c.            $237.00
Commission, 22 % on $66,325             1,658.12    1,895 12
Net Proceeds         $64,429 88
Canton, Dec. 10th, 1852. 
HUGHES, MILLER & CO.
Invoice of Tea, shipped by Hughes, Miller & Co., pr. Ship Massachusetts, Captain Fillmore, for
New York, by order, and for account of Messrs. Thomas Harvey & Co., owners of said Ship.
Mark. No.  Chests.    Chops.    Kind.   Bo't of  ross  rae Net lbs. Piculs-Taels.  Taels. Mace Can..  _.b
G. T. ol 5OOh'f Chests Moi Chun Pouchong Yengua 25,5001 6,508 18,992 142-iT4 @ 14  1,994 1 
2 1,000 "   " Wo Chun Y'ngHyson Eshing   79,974 14,978 64,9969487 -7f  ( 50 24,373 5  0
3 200 Chests  Yoing    Hyson       "     19,890 3,954 15,93611195-,  " 42  5,019 8  4
4  500   "     SamChun HysonSkin Sungua 50,120 10,040 40,080 300-6 " 11  3,306 6   0
5 1,000  "     How Tal Souchong Eshing 101,256 21,256 80,000600  "   15  9,000 0   0
43,694 1   0
( 72 candarines pr. dollar             $60,686 25
Paid for Matting                      80.00
"t t( Papers                        20.00
Cor. on $60,786.25, @ 2 %           1,215.73   1,315 73
E.E.    Canton, Jan. 1st, 1853.                      Dollars    $62,001 98
HUGHES, MILLER & CO. 
Invoice of aatting, shipped by Hughes, Miller & Co., pr. Ship Massachusetts, Captain Fillmore, for
New York, by order, andfor account of Messrs. Thomas Harvey & Co., owners of said Ship.
G. T. #6 1,000 Rolls A White Matting, ea. 40 Yards, 40,000 Yds., @ 14               5,600 00
Commission on $5,600, ( 2 %             112 00
Canton, Jan. 1st, 1853. E.              6712
HUGHES, MILLER & Co.                   $5,71200
Messrs. Thomas Harvey & Co., in Account with Hughes, Miller & Co.
Dr.         Cr.
To Invoice of Tea, pr. Massachusetts                          62,001 98
Do.      Matting,    Do.                                   5,71200
" Port Charges, Piloting, Wharfage, &c., of Ship Massachusetts  816 20
"Refitting, Repairs, and Sea Stores for     Do.               1,150100
By Net Proceeds of Drills, Ginseng, and Lead, pr Do.                     64,429 88
" Drafts, @ 6 mos., on Baring, Brothers & Co., London, under
Letters of credit dated July 9th 152, for ~1,500, @ 4s. 4d.
pr. dollar                                   $6,923.08
Less Com. for negotiating, 1 %       69.23
Shroffage, &c.                    5.31  74.54                6,848 54
69,680118   71,27842
E. E.   Balance due Thomas Harvey & Co.         1,598 24 
Canton, Jan. 1st, 1853.                                   71,27842      278!42
__I...(Entry continued.)                      -           -7_ —=
136




HISTORY AND ELUCIDATIONS, SET VI.
New York, May 6eh, 1853.
(Entry continued.)
By the foregoing Account-Current, it appears that Hughes, Miller & Co. have overdrawn their
%, leaving a balance in our favor, payable in Canton, of          1,598.24
Dis. on $1,682.36 @   5 %, to convert it into Canton funds         84.12   $1,682.36
It is considered generally to cost about 5 pr. ct. to carry our coin to Canton, or to convert our money, in any way, into
funds useable in Canton; therefore the Adventure to Canton has here produced value, $1,682.36, that being the amount
in the hands of Hughes, Miller & Co., with the exchange on the same added. Hughes, Miller & Co. and Discount have
cost the firm value.
The Adventure to Canton has cost the firm, as shown by Hughes, Miller & Co.'s Account-Current, the amount of their
Drafts on Baring Brothers & Co.. London. But this will appear in a subsequent entry, where the firm purchase Bills on
London to meet them, and therefore no account need now be made of it.
The money in Canton is reckoned in taels. mace, and candarines-10 candarines make a mace, and 10 mace a tael. The
weights are piculs, catties, and tales-16 tales to a catty, and 100 catties to a picul. A picul is 1331 lbs. avoirdupois
weight. Shroffage is the charge made by Shroffs or Bankers.
The Account-Current of Hughes, Miller & Co., and Statements of details accompanying it,
show that a portion of the proceeds of Adventure to Canton were appropriated to payment
of expenses of Ship Massachusetts at Canton, to wit:
Port Charges, Piloting, Wharfage, &c.                816.20
Refitting, Repairs, and Sea Stores                 1,150.00     1,966.20
To which add 5 %   Discount on $2,069.68                              103.48    $2,069.68
Ship Massachusetts has cost value, and Adventure to Canton has produced value to the full amount of expenses with
the exchange on money.
9th
Rec'd of John Hollingshead & Co., their Check on Bank of Commerce, for Freight on
250 Tons, pr. Ship Massachusetts, from Canton, @   $20 per Ton                $5,000.00
Ship Massachusetts has produced value in Cash.
Paid, pr. Check on Bank of Commerce, Duties on Matting, received pr. Ship Massachusetts,
from Canton (Sales of Matting, No. 2), Am't of Invoice $5,712, @   25 7       $1,428.00
There is due the Ship Massachusetts for Freight
On Matting (Sales of Matting, No. 2), 125 Tons, @   $20         2,500.00
"Tea       (Sales of Tea,     No. 3), 300   "    "  20         6,000.00    $8,500.00
Sales of Matting, No. 2, and Sales of Tea, No. 3, have cost value. Ship Massachusetts has produced value.
Cheeked on Bank of Commerce for $3,500, and paid Wages of Crew of Ship Massachusetts in
sh, as follows:
Captain,     10 mos.            @   $120                        1,200.00
1st Mate,    10  c"              "    45                         450.00
2d Mate,     10  "               "    25                         250.00
Carpenter,    9  "   20 days     "    25                         241.67
Steward,      9  "   20   "      "    15                         145.00
Cook,        10  "               "    13                         130.00
10 Seamen,    9  "   20  "      "     13 ea.                   1,256.67
2 Boys,       9  "   20  "      "      7 "                       135.33    $3,808.67
Ship Massachusetts has cost value in Cash.
11th
Our:Tote, No. 8, favor of Caleb Johnson, was paid this day at Phenix Bank, Ain't $15,255.90
18th
Mye-s & Wolbert, Auctioneers, have sold at Auction the Teas belonging to
Sales of Tea, No. 3, Amounting pr. their Ac't-Sales, to       95,441.05
Less Auction Duty, and Commission 21    o                      2,147.42   $93,293.63
Received of them   Notes, No. 12, 13, 14, and 15, as pr. B.-B., drawn payable @  6 mos., and
endorsed by them.
Sales of Tea, No. 3, have produced value in Bills Receivable.
---— _________                  ~~24th
J. Maitland & Co.'s Note, No. 9, our favor, fell due and was paid at the Bank of Commerce
this day.  Am't                                                               $4,657.25
S                              137




HISTORY AND ELUCIDATIONS, SET I.
New   York, June Ist, 1853.
The Total Proceeds of Sales of Tea, No. 3, Am't to          93,293.63
Deduct Charges entered         6,000.00  $87,293.63
Additional Charges, Cartage                                    110.00
Labor, receiving and delivering               82.00
1 mos. Storage                                64.00     256.00
Interest on Charges to date                               23.00
Cor. and Guar. on $93,293.63 @-5 %                     4,664.68
Net Proceeds, due Adventure to Canton, pr. average, Dec. 14th      82,349.95
bo~10~th        -~$87,293.63
10th
Sold to Fithian & Morris, for their Note, No. 16, @ 4 mos.
1000 Rolls 4/4 White Matting, 40,000 Yds., @ 21t                   $8,400.00
Sales of Matting, No. 2, has produced value in Bills Receivable.
11th
Rec'd an Account-Sales from Faxon, Field & Co., Cincinnati, of Coffee belonging to Adventure
to Cincinnati, Co. C.
Net Proceeds $9,422.72, due pr. average Aug. 10th. Our i is        $4,711.36
Adventure to Cincinnati,Co. C, has produced value in the indebtedness of Faxon, Field & Co.
Paid S. P. Nixon, on % pr. Check on Bank of Commerce           500.00
"  Thos. Harvey, " " "     " t"     "   "                    450.00     $950.00
15th
The Total Proceeds of Sales of Matting, No. 2, Am't as pr. S.-B. to  8,400.00
Deduct Charges entered         3,928.00   $4,472.00
Additional Charges, Cartage                                     15.00
Labor, receiving and delivering               30.00       45.00
Interest on Charges to date                               24.22
Con. and Guar. on $8,400, @ 5 %                         420.00
Net Proceeds, due Adventure to Canton, pr. average Feb. 23d, 1854    3,982.78
-~__________________ 18th                                       $4)720
Bo't of Brown & Co., pr. Check on Bank of Commerce, a Set of Exchange, @ 90 days' sight,
on Baring Brothers & Co., London, and remitted the same to cover Hughes, Miller & Co.'s
Drafts from Canton, Jan. 1st, @ 6 mos. sight, due in London, Oct. 3d, ~1,500
London Bankers Cor. 2 -%            30   ~1,530.
~1,530, @ 8 % Prem.                       $7,344.00
_____________ 20th
Bal. of Int. to be debited Adventure to Canton, pr. Account-Current of date  4,167.21
Net Gains, as shown by the Account-Current                          11,783.56
_________________________ 30th __$15,950.77
30th
Checked on Bank of Commerce for $900, and paid in Cash,
Wages of Clerks                                           265.50
Rent of Store                                             400.00      665.50
Draymen and Laborers                                                  237.00
$902.50
The debit Bal. of Interest on the % of Ship Massachusetts, reckoned to July 1st, is $1,431.84
Ship Massachusetts has cost value. Interest has produced value.
Due Thos. Harvey,        Int. on Capital to July 1st                      735.06
" S. P. Nixon            "   "   "    "   "   "                          735.00
" James L. Grant         "   "   "    "   "   "                          300.00
Interest has cost the firm value. Each partner has produced the firm value.  $1,770.06
138




THOMAS HARVEY & CO.
DAY-BOOK A, SET VI.
139




DAY-BOOK A, SET V1.
New- York, July 2d, 1852.
L.F.
Thomas Harvey and Salmon P. Nixon have this day entered
into partnership, as pr. articles of agreement.
1  Sundries                         To Thomas Harvey,
1   Ship Massachusetts,          Valued at                          25,000 00
1  Bills Receivable,             No. 1, due Aug. 10th, pr. B.-B.     1,000 00 26,000 00
1   Sundries                        To Salmon P. Nixon,
1  Bills Receivable,             No. 2, due July 20th, pr. B.-B. 4,500.00
No. 3, " Aug. 30th,"  "   2,225.50
No. 4, " Sept. 8th, "  "    645.00
No. 5,  Nov.,     "  "    1,960.75  9,331 25
2   Merchandise,                 Ginseng, pr. I.-B., fol. 1, Am't   14,000 00
2   Expenses,                    Store Fixtures, valued at             600 00 23,93125
9th
1   Adventure to Canton             To Sundries,
For Mdse., as pr. 0.-I.-B., fol. 1, shipped on board Ship Massachusetts, and consigned to Hughes, Miller & Co., Canton, China,
to be sold for our % and risk, and for Expenses attending Shipment. Due pr. Average, Nov. 12th.
2        To Bills Payable,       Paid A. A. Lawrence & Co., for Drills, as
pr. I.-B. fol. 1, by our Notes, No. 1, @ 4 mos.,  14,000.00
No. 2, " 6 "         14,000.00
No. 3, " 8 "         14,000.00
Also gave our Note, No. 4, @ 12 mos., to the Atlantic
Ins. Co. for Ins. on $72,000 @ 12 % and Policy  1,081.25  43,081 25
2        " Merchandise,          Ginseng, from Store, pr. I.-B., fol. 1  14,000 00
2        " Haines, Hampton & Co., Bill of Lead    "   "   " "        7,000 00
3        " Commission,           On $63,000 @ 22                     1,575 00 65,656 25
-------— 1           -16th
-   Ship Massachusetts              To Bills Payable,
2               Our Note, No. 5, @ 12 mos., favor of New York Ins. Co., for
Ins. on this Ship for $27,500 @ 7% and Policy                      1,923 25
31st
2   Cash                            To Sundries,       pr. C.-B.
1       To Thomas Harvey,                                     2d                9,00 00
1        " Salmon P. Nixon,                                                    11,068 75
1        " Ship Massachusetts.                                14th              1,800 00
1        " Bills Receivable,                                  20th              4,500 00
26,368 75
2   Sundries                        To Cash,            pr. C.-B.
2   Haines, Hampton & Co.,                                    9th               7,000 00
1   Ship Massachusetts,                                       12th   1,160 00
" 16th                                                     5 60   1 165 60
-  8,165 0
3          -                  Aug. 2d — 8,0Aug. 2d
-  American Mutual Ins. Co.        To Bills Payable,
Issued our Note, No. 6, ( 12 mos., for an open policy of Ins.
on all Shipments by us, or Consignments to us, during the year,
within the limits of the United States or West Indies, until the
Prem. on the same amounts to the Note.                            2,000 00
140




DAY-BOOK A, SET VI.                                              2
New York, August 2d, 1852.
L. F.
3  Adventure pr. Bark Phillis     To Sundries,
For Mdse. shipped pr. Bark Phillis, Bingham master, as pr.
O.-I.-B., fol. 1, and consigned to Daniel Starr & Co., Kingston,
Jamaica, to be sold for our % and risk, and for Expenses of
Shipment.
4       To Morton & Godwin,     Flour, pr. I.-B.                  4,540 00
4        "( Otis & Brother,     Meal and Corn, pr. I.-B.          3,540 00
3        " American Mutual Ins. Co.,
For Ins. on $9,000 @ 3% and Policy                     271 25
3        " Charges,             Drayage and Labor                    71 50
3        "( Commission,         On $8,080 @ 22%                     202 00   8,624 75
31st
2
-   Cash                          To Bills Receivable, pr. C.-B., 10th  1,00000
1                                  tc  s   d"   "           30th  2,225 50   3,225 50
2  Sundries                       To Cash,          pr. C.-B.
4  Morton & Godwin,                                         2d               4,54000
4  Otis & Brother,                                                           3,540 00
1  Thomas Harvey,                                           24th               130 00
1  S. P. Nixon,                                             31st              125 00
2  Expenses,                                                 t9500
8,430 00
Sept. 22d                                               -
-  Sales for 7 of John Gundry & Co.  To Charges,
3              Drayage on 500 Bbls. Flour, to be sold for % and risk of J.
Gundry & Co., Cincinnati, Ai't pr. Invoice, $1,579.75             15 75
30th
-   Cash               To Bills Receivable,          pr. C.-B., 8th            645 00
I                                 i
I   Sales for % of John Gundry & Co. To Cash,         pr. C.-B., 22d           42500
Oct. 5th
Adventure pr. Bark Phillis     To American Mutual Ins. Co.
~3 ~      Ins. on Excess of homeward Cargo from Havana, $6,000 @ 1%         90 00
11th
-  Adventure pr. Bark Phillis     To Suarez, Brother & Co.,
For Excess of Expenditures by Suarez, Bro. & Co., Havana,
for % of this Adventure, over the proceeds resulting to them
from same, as pr. their Ac't-Current, and other Papers, Rec'd pr.
Bark Phillis.                                                   6,430 77
15th
Bills Receivable               To Sales of Sugar, No. 1,
4            J. Fallstaff & Co.'s Note, No. 6, @ 6 mos., for Sugar pr. S.-B.  16,455 00
18th 
-  Bills Receivable               To Sales of Sugar, No. 1,                       i
|4 |Lyman F. Bache's Note, No. 7, ( 6 mos., for Sugar pr. S.-B.              6,240 00
141




3                       DAY-BOOK A, SET VI.
New York, October 19th, 1852.
L.F.
4   Sales of Sugar, No. 1           To Sundries,
The total sales for this % Ai't to  22,695.00
Deduct Duties entered 11th inst.    4,274.29 $18,420.71
3        To Charges,             Cooperage, Storage and Labor            55 50
4        " Interest,             On Duties, $4,274.29, for 8 d's          5 70
3        " Commission,           On $22,695 @ 22%                      567 38
3        " Adv. pr. Bark Phillis, Net proceeds, due June 8th, /53   17,792 13 18,420 71
4                                20th
Suarez, Brother & Co.            To Bills Payable,
2             Accepted their Bill of Exchange on us, @ 30 days' sight           6,430 77
22d
3   Adventure pr. Bark Phillis      To Sundries,
4        To Interest,            As pr. Ac't-Current, A.-C.-B. fol. 1  699 09
4        " Profit & Loss,        Net Gains, pr. Ac't-Current           822 52   1,521 61
30th
2   Sundries                        To Cash,            pr. C.-B.
4   Sales of Sugar, No. 1,                                     11th             4,274 29
3   Adventure pr. Bark Phillis,                                12th             1,125 00
3   Charges,                                                   30th                9475
2   Expenses,                                                                     495 00
5,989 04
End of first year.
November 1st, 1852.
5 Sales of Pork, Co. A
3       To American Mutual Ins. Co.,
Ins. on Pork shipped to us by Faxon, Field & Co., Cincinnati,
as pr. Advice, $10,000 @ 12%                                         15000
5th
5   Sales of Pork, Co. A            To Sundries,
Rec'd from Faxon, Field & Co., Cincinnati, 1,000 Bbls. Pork,
Am't pr. Invoice $9,256.25, to be sold on joint %.
5       To Faxon, Field & Co., Our i Invoice                         4,628 12
3        " Charges,              Drayage                                 31 25  4,659 37
6th
1   Bills Receivable                To Sundries,
Rec'd of Jeremiah Brown his Note, No. 8, @ 30 days, in Pay't
of Pork sold to him, and for Discount.
5       To Sales of Pork, Co. A, 500 Bbls. Pork @ $11.               5,500 00
4        " Discount,             On $5,530.42 for 33 days.              30 42   5,530 42
2 —                               8th
-   Merchandise                     To Bills Payable,
Bo't of Caleb Johnson, on our Note @ 6 mos., No. 8, Molasses,
Sugar and Lard, pr. Invoice                                      15,255 90
15th
3 Sales for % of John Gundry & Co. To Sundries,
Rendered J. Gundry & Co. an Ac't-Sales of 500 Bbls. Flour,
Total Sales,        2,500.00
Deduct Charges entered  440.75 $2,059.25
l —             ----- ____ _ Entry continued
142




DAY-BOOK A, SET YI.                                           4
New    York, November 15th, 1852.
L. F.
1/ Sales for % of J. Gundry & Co. To Sundries (continued).
4       To Interest,          On $440.75 from Sept. 22d            3 97
3       " Charges,            Storage, Labor, Cooperage, &c.      60 25
3       " Commission,         On $2,500 @ 2270                    62 50
5       " John Gundry & Co., Net Proceeds, due 12th inst.      1,932 53  2,059 25
15th
5  Sales of Pork, Co. A          To Sundries,
Rendered Faxon, Field & Co., an Ac't-Sales of 1,000 Bbls. Pork,
Total Sales             10,875.00
Deduct Charges entered           1,031.25
"    do.  and Corn. as below   465.19   1,496.44
Net Proceeds           $9,378.56
4       To Interest,          On Charges to date                   1 82
3       " Charges,            Storage, Labor, Cooperage, &c.  41.50
Ins. vs. Fire, $10,000 @ 12%  150.00  191 50
3        "d Commission,       On $10,875 @ 227       -           271 87
5       (( Faxon, Field & Co., Their i Net Proceeds, due 10th inst.  4,689 28  5,154 47
-  Sales of Pork, Co. A          To Profit & Loss,
4            Our i Net Proceeds $4,689.28
Our i First Cost  4,628.12 therefore we have gained            61 16
30th -.=....
2  Cash                          To Sundries,     pr. C.-B.
1       To Bills Receivable,                             2d    1,960 75
"s cc                                            10th  5,530 42  7,491 17
3       " Sales for % of John Gundry & Co.,               "          -   2,500 00
5       " Sales of Pork, Co. A,                           "              5,375 00
2       " Merchandise,                                   16th            6,274 00
21,64017
2  Sundries                      To Cash,         pr. C.-B.
5  Sales of Pork, Co. A,                                 5th               850 00
3  Charges,                                              6th               22625
5  Faxon, Field & Co.,                                   "               5,000 00
4  Discount,                                             10th               26 73
2  Bills Payable,                                        12th  14,00000
ccisu~~~~~~ ~22d                           6,430 77 20,43077
26,533 75
2, ~   ~   ~    ==    Dec. 31st                                      -
2  Cash                          To Merchandise, pr. C.-B., 6th          7,875 00
2  Sundries                      To Cash,         pr. C.-B.
5  John Gundry & Co.,                                    10th            1,932 53
4  Interest,                                                                 9 02
1,941 55
Jan. 15th, 1853 
2  Sundries                      To Bills Payable,
Our Note, No. 9, @ 6 mos., favor of Douglass, Forest & Co., for
two-thirds Invoice of Sugars, Molasses and Rice, to be sold for the
joint % of Douglass, Forest & Co., Faxon, Field & Co., and ourselves:-Am't pr. Invoice $12,465.36.
5  Sales of Mdse., Co. B,     Our i of Speculation             4,155 12
5  Faxon, Field & Co.,        Their i"   "                     4,155 12  8,Q310 24
143




5                       DAY-BOOK A, SET VI.
New York, January 21st, 1853.
L. F.
Bills Receivable                To Sales of Mdse., Co. B,
5              Rec'd of James Maitland & Co. their Note, No. 9, @ 4 mos., for
a Lot of Loaf & Crushed White Sugars. Ai't pr. S.-B.            4,657 25
31st
-   Cash                         To Bills Receivable, pr. C.-B., 10th        16,45500'C                                         --
2  Sundries                        To Cash,          pr. C.-B.
4  Discount,                                                 10th               268 77
2  Bills Payable,                                            12th            14,000 00
14,268 77
Feb. 1st:       -                               =
2
-   Merchandise                    To Bills Payable,
2            No. 10, ( 6 mos., favor of Baily & Welsh, for Coffee, pr. Invoice  8,548 80
5th
Sundries                       To Sundries,
Consigned to Faxon, Field & Co., Cin'i, an Invoice of Coffee,
as pr. O.-I.-B., to be sold for their and our joint c.
5  Faxon, Field & Co.,          Their i Adv.                       4,48311
5  Adv. to Cincinnati, Co. C,   Our    "                           4,48311
2       To Merchandise,         2000 Sacks Coffee                             8,548 80
3        " American Mutual Ins. Co.,
Ins. on $9,500 @ 12%                            142 50
3        " Charges,             Drayage, Labor, Weighing, &c.                    61 20
3        " Commission,          On $8,548.80 @ 22%                              213 72
19th
1  Bills Receivable                To Sales of Mdse., Co. B,
~5    ~   Note of W. G. Gaylord, No. 10, @ 10 d's, for Rice, as pr. S.-B.  2,931 50
| ----     -          28th
1 5  Sales of Mdse., Co. B          To Sundries,
Rendered Faxon, Field & Co. and Douglass, Forest & Co. each
l  [         ~an Account-Sales. Am't, as pr. S.-B.     7,588.75
Deduct Charges & Cor. as below                496.56
Net Proceeds             $7,092.19
3       To Charges,             Ins. vs. Fire on $6,500 @ 12%  97.50
Cooperage, Weighing & Labor  19.62   117 12
3        " Commission,          Corn. & Guar. on $7,588.75 @ 5%      379 44
5        " Faxon, Field & Co., Their i Net Proceeds, due Apr. 27th  2,364 06
5        (( Douglass, Forest& Co., "t c "t   t "   t  t   t        2,364 06   5,224 68
2  Sundries                       To Cash,           pr. C.-B.
2  Expenses,                                                28th                510 00
3  Charges,                                                                    19500
_________ ___________          70500
144




THOMAS HARVEY & CO.
DAY-BOOK B, SET VI.
T         145




1          ~        ~DAY-BOOK B, SET VI.
New York, March 4th, 1853.
L. F.
4   Watson G. Gaylord                To Bills Receivable,
2             Note No. 10 protested at Bank of Commerce                          2,931 50
2               ------— 25th
Adventure to Canton               To Bills Payable,
For Note No. 11, @ 6 mos., to the Atlantic Ins. Co., for Ins.
on Cargo homeward from Canton, $75,000 @ 12 % and Policy           1,133 75
31st
-   Cash                    To James L. Grant,        pr. C.-B., 1st            15,000 00
1   Sundries                        To Cash,              pr. C.-B.
4   Watson G. Gaylord,                                         4th                    150
2   Bills Payable,                                            12th               14,000 00
14,001150
=      =========2             Apr. 9th 
-   Bills Receivable                 To Sales of Mdse., Co. B.,'3~         Rec'd of Leonard Barber & Co. their Note, No. 11, @ 6 mos.,
for Sugars and Molasses, Am't pr. S.-B;                             5,525 00
3   Sales of Mdse., Co. B            To Sundries,
Rendered to Faxon, Field & Co. and Douglass, Forest & Co.,
Account-Sales of Sugars and Molasses, belonging to this Co.,
Am't pr. S.-B.,                              5,525.00
Deduct Charges and Cor. as below              383.60
Net Proceeds              $5,141.40
3       To Charges,             Ins. vs. Fire on $6,500 @ 12 %  97.50
Cooperage, Weighing, Labor, &c.  9.85   107 35
3        " Commission,          Corn. & Guar. on $5,525 ( 5,          276 25
2        " Faxon, Field & Co., Their ~ Net Proceeds, due Oct. 26th    1,713 80
3        " Douglass, Forest& Co.," " "      el. i  i         1,713 80     3,811 20
-   Profit & Loss                    To Sales of Mdse., Co. B.,
3             For our Net Loss on Sales effected for Co.                            166 45
|l___________________ 30th
1   Cash                             To Sundries,         pr. C.-B.
2      To Bills Receivable,                                  21st                6,240 00
4        " Watson G. Gaylord,                                 26th                2,933 00
4        " Interest,                                           "                     2591
2        " Merchandise,                                       30th                1,945 60,.~~May 6th  < _______11,144 51
May 6th
2   Sundries                         To Adventure to Canton,
4  Hughes, Miller & Co.,        Bal. in our favor, payable in Canton. as pr.
their Ac't-Current, and other Papers Rec'd pr. Ship Mass.  1,598 24
4   Discount,                   On $1,682.36 @ 5 %                       84 12    1,682 36
I   Ship Massachusetts               To Adventure to Canton,
2               Expenses of the Ship at Canton, as pr. Account-Current of
Hughes, Miller & Co., $1,966.20, with 5 % Dis. added               2,069 68
146




DAY-BOOK B, SET VI.                                             2
New York, May 9th, 1853.
L. F.
1  Sundries                       To Ship Massachusetts,
4  Sales of Matting, No. 2,  Freight on 125 Tons @ $20.         2,500 00
4  Sales of Tea, No. 3,        "    t 300 "   " 20.             6,000 00   8,500 00
18th
2  Bills Receivable               To Sales of Tea, No. 3,
4              Rec'd of Myers & Wolbert, Auctioneers, Notes No. 12, 13,14
and 15, @ 6 mos., as pr. B.-B., endorsed by them, in Pay't of
Teas sold, Am't pr. their Ac't-Sales    95,441.05
Less Auction Duty and Corn. 21 %         2,147.42            93,293 63
31st
1  Cash                           To Sundries,       pr. C.-B.
1      To Ship Massachusetts,                            9th               5,000 00
2       " Bills Receivable,                              24th              4,657 25
______________  cc  ______________       1  9,657   25
1  Sundries                       To Cash,            pr. C.-B.
4  Sales of Matting, No. 2,                               9th              1,428 00
1  Ship Massachusetts,                           3,808 67
2  Bills Payable,                                        11th             15,255 90
June 1st                  =                   20,492 57
4 Sales of Tea, No. 3             To Sundries,
Total Proceeds of Sales of Tea  93,293.63
Deduct Duties entered           6,000.00 $87,293.63
3      To Charges,           Cartage                   110.00
Labor receiving & delivering  82.00
1 mo. Storage              64.00    256 00
4       " Interest,          On Charges to date                    23 00
3       " Commission,        Corn. & Guar. on $93,293.63 @ 5 %  4,664 68
2       " Adventure to Canton, Net Proceeds, due Dec. 14th     82,349 95  87,293 63
10th
2  Bills Receivable               To Sales of Matting, No. 2,
4              Rec'd of Fithian & Morris their Note, No. 16, (@ 4 mos., for
1,000 Rolls - White Matting, 40,000 Yds. @ 21 9               8,400 00
____________ 11lth
2  Faxon, Field & Co.       To Adventure to Cincinnati, Co. C,
3              Rec'd from them an Account-Sales of Coffee belonging to this
Adventure. Net Proceeds $9,422.72 due, pr. average, Aug. 10th.
Our i is                                                      4,711 36
15th
4 Sales of Matting, No. 2         To Sundries,
Total Sales of Matting, pr. S.-B.,  8,400.00
Deduct Charges entered           3,928.00 $4,472.00
3      To Charges,           Cartage                    15.00
Labor receiving & delivering  30.00  45 00
4       " Interest,          On Charges to date                    24 22
3       " Commission,        Corn. & Guar. on $8,400 @ 5 %       420 00
2       " Adventure to Canton, Net Proceeds, due Feb. 23d /54   3,982 78   4,472 00
20th
2  Adventure to Canton            To Sundries,
4      To Interest,          Debit Bal., pr. Ac't-Current of date  4,167 21
3        t" Profit & Loss    Net Gains, "          " "         11,783 56  15,95' 77
147




3                      DAY-BOOK B, SET YI.
N7ew   York, June 30th, 1853.
L. F.
1  Ship Massachusetts            To Interest,
4           Debit BaL of Int. on the Ship's %, to July 1st              1,431 84
30th
4  Interest                     To Sundries,
1      To Thos. Harvey,     Int. on Capital to July 1st        735 06
1       " S. P. Nixon,         "   "   " "                     735 00
1       " Jas. L. Grant,     "        t    "C                  300 00   1,770 06
1  Sundries                         To Cash,       pr. C.-B.
1  S. P. Nixon,                                       12th                500 00
1  Thos. Harvey,                            "                            450 00
2  Adventure to Canton,                               18th              7,344 00
4  Expenses,                                         30th                665 50
3  Charges,                                                               237 00
9,196 50
148




THOMAS HARVEY & CO
CASH-BOOK, SET VI.
149




1                GCASH-BOOK, SET VI.
Dr.                                Cash.
1852.
July  2 To Thomas Harvey,         Amount invested                          9,000 00
c  "    Salmon P. Nixon,                                              11,068 75
14   " Ship Massachusetts,    Passage money of 6 Passengers to Canton  1,800 00
20    " Bills Receivable,     No. 2, collected at Phenix Bank          4,50000
~~~____~ ~ ~~~~~~                   ~            26,368 75
Aug. 2 To Balance,                Brought down from July 31st             18,208 15
10     " Bills Receivable,     No. 1 collected at Phenix Bank           1,00000
i   30           Do.            No. 3,  "   "Bank of Commerce            2,225 50
__==_                                                                  6 —;^~21,428 65
Sept. 1 To Balance,               From Aug. 31st                          12,99865
8 S      Bills Receivable,     No. 4, collected at Bank of Commerce       645 00
13,643 65
Oct.  1 To Balance,               From Sept. 30th                         13,218 65
13,218 65
Nov.  1 To Balance,               From Oct. 30th                           7,229 61
"    2    Bills Receivable,     No. 5, collected at Bank of Commerce     1,960 75
"   10  " Sales for %  of John Gundry & Co.,
500 Bbls. Flour, sold H. S. Pierson & Co., @ $5.  2,500 00
"      C "  Sales of Pork, Co. A.,  500 "  "      t          " i  $10.75  5,375 00
"  ("  " Bills Receivable,    No. 8, discounted at Phenix Bank         5,530 12
"c  16  "( Merchandise,         Sale to J. Maitland & Co., Am't pr. S.-B.  6,274 00
28,869 78
Dec.  1 To Balance,               From Nov. 30th                           2,336 03
6       " Merchandise,          Sale to Stiles & Nesmith, Am't pr. S.-B.  7,875 30
____= _^-  150           J10,21103
150




CASH-BOOK, SET VI. 
Cash.                                       Cr.
1852.
July   9  By Haines, Hampton & Co., Paid for Bill of Lead                             7,000 00
( 12   " Ship Massachusetts,         " various Bills for Provisions and Water      1,160 00
"   16    "         Do.                " Custom House charges for Clearance              5 60
31   " Balance,                  In Bank of Commerce                 $4,800.00
" Phenix Bank                      13,100.00
Safe                                 303.15  1 8,2 0 31 5
26,368 75
Aug.   2  By Morton & Godwin,          For Flour, pr. I.-B.                           4,540 00
i    "     t Otis & Brother,          " Meal and Corn, pr. I.-B.                     3,540 00
c   24   " Thomas Harvey,            On %                                              130 00
31     " S. P. Nixon,                                                               125 00
Ia "       Expenses,                Wages of Clerks                                   95 00
"    "   t" Balance,                 In Bank of Commerce                 $3,360.50
" Phenix Bank                       9,560.00
" Safe                                 78.15  12,9 9865
21,428 65
Sept. 22  By Sales for %   of John Gundry & Co.,
Freight on 500 Bbls. Flour from Cincinnati, on consignment         425 00
i   30   " Balance,                  In Bank of Commerce                 $4,005.50
" Phenix Bank                       9,135.00
"Safe                                 78.15   1 3,21 8 65
13,643 65
Oct. 11 By Sales of Sugar, No. 1,      Duties on Invoice of Sugar from  Havana, Am't  427429
$14,247.63 ~ 30 %                                                4274 29
v 12     " Adventurepr.Bark Phillis, Paid Hollister, Son & Co., Bal. of Charter money 
$1,000, and 5 days' Demurrage $125.                              1,125
C"  30    " Charges,                 Paid Draymen & Laborers                            94 75
";      " Expenses,                 Wages of Clerks $95, Rent of Store $400.         495 00
C    t    a Balance,                 In Bank of Commerce                 $4,005.50
" Phenix Bank                       3,135.71
", Safe                               88.40    7,2 2 9 6 1
13,218 65
Nov.   5  By Sales of Pork, Co. A.,    Freight on 1,000 Bbls. Pork, from Cincinnati     850 00
cc    6   " Charges,                 Effected Ins. in the Saratoga Fire Ins. Co., on Stock
of Goods in Store, for one year, to the Am't of $15,000 @ 12 %, & Policy  226 25' Ad       Faxon, Field & Co.,    Remitted, as pr. their Order of 1st inst., a Bill of Exchange on Bacon & Boswell, Cin'i, purchased @ par of Clark, Prime & Co.  5,000 00
"   10    " Discount,                On Bills Rec. No. 8, pr. contra, for 29 days       26 73
"C  12    " Bills Payable,           No. 1, paid at Phenix Bank                    14,000 00
C   22    "    Do.                   No. 7, "  "Bank of Commerce                     6,430 77
C   30    " Balance,                 In Bank of Commerce                  $583.23
" Phenix Bank                       1,664.40
" Safe                                88.40    2,3 3 6 0 3
28,869 78
Dec. 10 By John Gundry & Co.,          Paid to J. Buchanan, pr. their Order           1,932 53
"        " Interest,                On the above from Nov. 12th                         9 02
C   31   " Balance,                  In Bank of Commerce                 $6,516.68
" Phenix Bank                       1,664.40
" Safe                                88.40    8,2 69 48
10,211 03
151




2                        CASH-BOOK, SET YI.
Dr.                                  Cash.
1853.
Jan.   1 To Balance,                From fol. 1, Dec. 31st /52                 8,269 48
i   10   " Bills Receivable,      No. 6, discounted at Phenix Bank           16,455 00
~^ ~~~. ^^~~_ ___ ~24,72448
Feb.   1 To Balance,                From Jan. 31st                            10,455 71
10,455 71
Mar.   1 To Balance,                From Feb. 28th                             9,750 71
"    "   " James L. Grant,        Am't invested on entering the Firm         15,000 00
24,750 71
Apr.   1 To Balance,                From Mar. 31st                            10,749 21
i   21   " Bills Receivable,      No. 7, collected at Phenix Bank             6,240 00
a        " Watson G. Gaylord,     Rec'd in full for Note No. 10, protested at Bank of Commerce on the 4th ult., and charged to his %-Note $2,931.50, Protest $1.50  2,933 00
c i      " Interest,              On $2,933, for 53 days                         25 91
ct  30   " Merchandise,           Sale to Peter Parker, pr. S.-B.             1,945 60
21,893 72
May    2 To Balance,                From Apr. 30th                            21,893 72, 9      " Ship Massachusetts,    Rec'd of John Hollingshead & Co. for Freight from
Canton, 250 Tons @ $20 pr. Ton                              5,00 00
24      " Bills Receivable,      No. 9, collected at Bank of Commerce        4,657 25
31,550 97
June   1 To Balance,                From May 31st                             11,058 40
11,058 40
1853.1    T                                                                      861 T
July   1 To Balance,                From June 30th181
152




CASH-BOOK, SET VI.                                                  2
Cash.                                        Cr.
1S53.
Jan. 10    By Discount,                 On Bills Rec. No. 6, pr. contra, for 98 days      268 77
"   12    " Bills Payable             No. 2, paid at Phenix Bank                     14,000 00
"   31 I    Balance,                  In Bank of Commerce                 $6,516.68
" Phenix Bank                        3,850.63
"Safe                                  88.40   1 0,4 5 517 1
24,724 48
Feb. 28    By Expenses,                 Wages of Clerks $110, Rent of Store $400.         510 00
ve   ".     Charges,                  Paid Laborers & Draymen                           195 00
"     ("  " Balance,                  In Bank of Commerce                 $5,811.68
" Phenix Bank                        3,850.63
" Safe                                 88.40    9,7 5 07 1
10,455 71
Mar.   4   By Watson G. Gaylord,        Paid Protest of his Note, No. 10                    1 50
I   12    " Bills Payable,            No. 3, paid at Phenix Bank                     14,000 00
3 1     " Balance,                  In Bank of Commerce                 $5,811.68
" Phenix Bank                        4,850.63
" Safe                                 86.90   1 0,7 4 9 2 1
24,750 71.pr. 3     By Balance,                 In Bank of Commerce                  $5,811.68
" Phenix Bank                       15,536.23
Safe                                 545.81   21,8 9 37 2
21,893 72
May    9   By Sales of Matting, No. 2, Duties on Invoice from Canton, $5,712 @ 25 %     1,428 00
CC  I "  "     Ship Massachusetts,    Wages of Crew                                   3,808 67
A 11      "c Bills Payable,           No. 8, paid at Phenix Bank                     15,255 90
s    3 1  " Balance,                  In Bank of Commerce,               $10, 540.93
" Phenix Bank                         280.33
" Safe                                237.14   11,0 5 84 0
31,550 97
June 12    By S. P. Nixon,              On %                                              500 00
" "       ( " Thomas Harvey,          " "                                               450 00
s    18   " Adventure to Canton,      Bo't of Brown & Co. a Set of Exchange, @ 90 days'
sight, on Baring, Brothers & Co., London, and remitted the same to cover
Hughes, Miller & Co.'s Drafts from Canton, Jan. 1st, @ 6 mos.' sight, due
in London Oct. 3d, ~1,500, and for London Banker's Com. 2 % ~30. Total
~1,530, @ 8 % Prem.                                                7,344 00
"{  30    " Expenses,                 Wages of Clerks $265.50, Rent of Store $400       665 50
{c"  (    C Charges,                  Paid Draymen & Laborers                           237 00
r(v  "    "c Balance,                 In Bank of Commerce                 $1,346.93
" Phenix Bank                         280.33
Safe                                 234.64    1,8 61 9 0
___                             511,058 40
J                             U158








THOMAS HARVEY & CO.
LEGER A.
SET VI.
INDEX.
A.                         H.
Adventure to Canton  -  -  -  -  1  Harvey, Thomas  -  -  -  -  -  1
American Mutual Ins. Co. -  -  -  3  Haines, Hampton & Co.  - -  -  2
Adventure pr. Bark Phillis  -  -  -  3
Adventure to Cincinnati, Co. C  -  -  5
I.
Interest -  -  -         4
3.
Bills Receivable  -  -  -  -  -  1
Bills Payable  - - - - -  2             M.
Merchandise  --     -  -  2
Morton & Godwin  -  -    4
C.
Cash  --- 2                             N.
Commission  - - --      3
Charges   -  -   -      3  Nixon, Salmon P.  -  -  -  -  -  1
D.                         0.
Douglass, Forest & Co. -  -  5  Otis & Brother  - - - -  4
E.                         P.
Expenses   - -   -  -  -  2  Profit& Loss  -  -    -  4
F.                         S.
Faxon, Field & Co.  -  -  -  -  Ship Massachusetts -   1
Sales for % of John Gundry & Co.  -  3
Sales of Sugar, No. 1  -  -  4
^G.  ~Suarez, Brother & Co. -  -  -  -  4
Sales of Pork, Co. A  -  -  -   5
Gundry, John & Co.  -  -  -   5  Sales of Merchandise, Co. B  -  -  5
155




~1 ~               LEGER A, SET VI.
Dr.                         Thomas Harvey.                             Cr.
1852.                                    1852.
Aug. 31 To Cash             2     130 00 July 2 By Sundries          1  26,000 00
Oct. 3 o "Bal.(NetCaqp.)toNew%  3 6,2 348 5 "  31 " Cash            1   9,003400
Oct. 30 " Profit & Loss 3'00000 4  1,364 85
36,364 85                                36,364!85
853. _                     ==        -.1852. ___ =_                         I__
Feb. 2 8 To Bal. to Leger B, fol. 1  3 6,8 24 0 2 Nov. 1 By Bal. fr. Old %  36,234 85
1853.
Feb. 28   Profit & Loss     4     58917
Dr.                        Salmon P. Nixon.                            Cr.
1852.                                    1852.
Aug. 31 To Cash             2     125 00 July 2 By Sundries         1   23,931 25
Oct. 3 0 "Bal.(NetCap.)toNzew%  36,239 84 " 31 "Cash                1  11,068 75
_____   Oct. 30   Profit & Loss 35',0o00 4  1,364 84
1853. ^^^^       -_ 36,36-'-484 _484        6                36,364 84
1853.                        -      -----.1852.- -----            --      _
Feb. 2 8 To Bal. to Leger B, fol. 1  3 6,82 9 0 2 Nov. 1 By Bal. fr. Old %  3 3239 84
1853.
Feb. 28 " Profit & Loss     4     589 18
Dr.                       Ship Massachusetts.                          Cr.
1852.                                    1852.
July 2 To Thomas Harvey     1  25,000 00 July 31 By Cash            1    1,800 00
" 16 " Bills Pay.          1   1,926 25 1853.
"  31 (1 Cash              1   1165 60 Feb. 2 8  Bal. to LegerB, fol.  26,2 918 5
28,091185                               28,09185
Dr.                         Bills Receivable.                          Cr.
1852.                                    1852.
July 2 To Thomas Harvey     1    1,000 00 July31 By Cash             1   4,500 00
"   " " S. P. Nixon        1   9,331125 Aug. "   " "               2   3,225 50
Oct. 51   Sales No. 1       2  16,455 00 Sept. 30 "  c"             2     645 00
u  18    44       3,026. 2  6,240 00 Oct. "  "( Bal. to New %83705o0  24,65575
33,026 25                               33,026 25
1852.                                --- 1852. 
Nov. 1 To Bal. fr. Old %        24,655 75 Nov. 30 By Cash           4    7,491 17
6 " Sundries              3   5,53042 1853.
1853.                                    Jan. 31 "             23,94.  5  16,455100
Jan. 21 " Sales Co. B       5   4,657 25 Feb. 2 8 " Bal. to Leger B, fol. 2  13,8 2 8 7 j
Feb. 19 "     "       8     5    2,931150 
L ~=              37,774 192' _9                          37,777492
Dr.                       Adventure to Canton.                         Cr.
1852.                                    1853.
July 9 To Sundries          1  65,656 25 Feb. 2 8 By Bal. to Leger B, fol. 2  65,6 5 6 2 5
156




LEGER A, SET VI.                                        2?r..Cash.                                                              Cr..I                                         1852.
Yuly Kl To Sundries          1   26,368 75 July 31 By Sundries          1   8,165 60
Aug. (' "Bills Rec.           2   3,225 50 Aug. "       "               2   8,430 00
Sept. O0 "    "         30,2392 2   645 00 Sept. 30 " Sales for J. G. & Co. 2  425 00
I0,5'Oct. " " Sundries                        3    5,98904
S i 23.009.64  90 1
"  "  ".Bal. to New'      7,2 2 9 6 1
30,239 25 1       _                        30,239 25
1852.-                       __ _      i_  1852.                                - -
Nov. 1 To Bal. fr. Old %          7,229 61 Nov. 30 By Sundries          4  26,533 75
"  30 " Sundries            4  21,640 17 Dec. 31 "     "              4    1,941 55
Dec. 31 " Mdse.               4   7,875 00 1853.
1853.                                      Jan."   "     "              5  14,268 77
Jan. "   " Bills Rec.  63,1. 5   16,455 00 Feb. 28 "     "        439.  5     705 00
" " _  "C Bal. to Leger B, fl. 1  9,7 5 0 71
53,199 78                                   53,199 78
Dr.                             Merchandise.                              Cr.
1852.                                      1852.
July 2 To S. P. Nixon         1  14,000 00 July 9 By Adv. to Canton     1  14,000 00
1852. ------ 1852.                                                      - 
Nov. 8 To Bills Pay.          3  15,255 90 Nov. 30 By Cash              4    6,27400
1853.                                  8   Dee. 31 "   "                4   7,87500
Feb. 1                 23,804.70 5  8,548 80 1853.
1 28 " Proit     Loss (gain) 4    8387 0 Feb. 5  " Sundries     22,697.80 5  8,548 80
"  2 8 " Bal. to Leger B, fol. 2  1,9 45 6 
_24,643 40                                  24,643 40
Dr.                            Bills Payable.                             Cr.
1852.                                      1852.
Oct. 3 0 To Bal. to New %        5 3,4 3 8 2 7 July 9 By Adv. to Canton  1  43,081 25
16 " Ship Mass.            1   1,926 25
Aug. 2   " Amer. Mut. Ins. Co. 1  2,0001 00
Oct. 20 "Suarez, Bro. & Co. 3    6,430 77
53,438 27                        5343827  53,438 27
1852. ---------------                      1852.                                  -
Nov. 30 To Cash              4   20,430 77 Nov. 1 By Bal. fr. Old %        53,438 27
1853.                                       "   8  " Mdse.              3  15,255190
Jan. 31 "               34,430.77 5  14,000100 1853.
Feb. 2 8 " Bal. to Leger B, fol. 2  5 1,1 2 24 4 Jan. 15 " Sundries     4   8,310 24,Feb. 1  " Mdse.,532 5   8,548 80
85,553 21        -                        85,553 21.
Dr.                              Expenses.                                Cr.
1852.                                     1852.
July 2 To S. P. Nixon         1     600 00 Oct. 3 o By Profit & Loss (loss) 4   1,19 o o
Aug.l31 " Cash                2      95 00
Oct. 30 "   "           i.oo 3      495100
1853.                        -         =1 1853.=                       - 
Feb. 28 To Cash               5     510 00 Feb.2 8 By Profit & Loss (loss) 4  5 I 51010 0
Dr.                      Haines, Hampton &        Co.                     Cr.
July 31 To Cash               1   7,000 00 July 9 By Adv. to Canton     1   7,000 00....July.31ToCh1852. 
157




3                       LEGER A, SET VI.
Dr.                           Commission.                             Cr.
1852.                                   1852.
Oct. 3 0 To Profit & Loss (gain) 4  2,3 44 3 8 July 9 By Adv. to Canton  1  1,575 00
Aug. 2  u Adv. pr. Phillis  2    202 00
Oct. 19 " Sales No. 1  2,3,4.38 3  567 38
1853  ~ —. —--    -    ~' — 1852.                              -
Feb. 2 8 To Profit & Loss (gain) 4  9 2 75 3 Nov. 15 By Sales for J. G. & Co. 4  62 50
"    " "Sales Co. A       4     271 87
^^~~/ ~      1853.
/:Feb. 5 " Sundries         5    213 72
" 28 " Sales Co. B        5     379 44
927.53
__ —~/     ~      92753                                   927 53
_____     ___-                      ----- -. __27j
Dr.                              Charyes.                             Cr.
1852.  I                                1852.
Oct. 30 To Cash            3      94 75 Aug. 2 By Adv. pr. Phillis  2    71150
" Profit & Loss (gain) 4     4 80 0 Sept. 22 " Sales for J. G. & Co. 2  15 75
____ _  Oct. 19   Sales No. 1      3 1    55150
142 75                        275      142 75
1852. ----                             1852. =           -                  l=
Nov. 30 To Cash             4    226 25 Nov. 5 By Sales Co. A      3      31125
1853.                                    "  15 " Sales for J. G. & Co. 4  6025
Feb. 28                421.25 5  195 00';    " Sales Co. A       4    191150
"   " " Profit & Loss (gain) 4   4 00 7 1853.
Feb. 5 " Sundries          5      61120
( 28 " Sales Co. B       5     117112
461 32'                     461.32    46132
_  _ =32                               46-1 -13_
Dr.                American Mutual Insurance Co.                      Cr.
1852.                                   1852.
Aug. 2 To Bills Pay.        1   2,000 00 Aug. 2 By Adv. pr. Phillis  2   271 25
Oct. 5         "           2      9000
"  3 0 " Bal. to New  361.25   1,6 3 87 5
1852.                 -     -           1852. -- ----
Nov. 1I To Bal. fr. Old %       1,638 75 Nov. 1 By Sales Co. A     3     150 00.1853.
1:Feb. 5 1   Sundries  292.50 5   14250!2 8   - Bal. to Leger B, fol. 2  1,34625
Dr.                  Adventure pr. Bark Phillis.                      Cr.
1852.                                   1852.
Aug. 2 To Sundries          2   8,624 75 Oct. 19 By Sales No. 1    3  17,792 13
Oct. 5  "c Amer. Mut. Ins. Co. 2  90 00
11 " Suarez, Bro. & Co. 2    6,430 77 
" 22 i Sundries           3   1,21 6
"30 " Cash          17792.13 3  112500
__-. l               1 17,792/1311  1 7  __              I 11 17,792113
_____                  -  I_____________-' 1-  ll  I-i=                i
Dr.           Sales for Account of John Gundry &        Co.           Cr.
1852.                                  1852.
Sept. 22 To Charges         2     15 75 Nov. 30 By wash            4   2,500 00
130 " Cash          44075 2    425100  1
Nov. 15 " Sundries    2,5o0.00 3  2,059 25
158




LEGER A, SET VI.                                      4
Dr.                      Sales of Sugar, No. 1.                        Cr.
1852.                                    1852.
Oct. 19 To Sundries         3   18,420 71 Oct. 15 By Bills Rec.      2  16,455 00
"  30 " Cash         22,695.00 3  4,274 29  "  18 "  "          5.00 2  6,240 00
=.__                22,95 00                                 22,695 00
Dr.                              Interest.                             Cr.
1852.                                    1852.
Oct. 0 To Profit & Loss (gain) 4    4 7 9 Oct. 19 By Sales No. 1    3       570
22 " Adv. pr. Phillis  3     699 09
1852.  _- 1852.                                                 704-     
Nov. 30 To Cash             4      26 73 Nov. 6 By Bills Rec.               30 42
Dec. 31 ( " "               4       902   " 15 " Sales for J. G. & Co. 4     397
1853.                                     t'1 ~C Sales Co. A   6.21 4      1 82
Jan. 31                 04.52 5   268 77 1853.
Feb. 2 8 ". Profit & Loss (loss)  4  2 6 8 3 1
304152                                   304 52
Dr.                          Profit & Loss.                            Cr.
1852.                                    1852. 
Oct. 30 To Expenses         2   1,190 00 Oct. 22 By Adv. pr. Phillis  3   822 52
"   " " T.Harvey, netgains 1   1,364 8 5   130 " Commission        3    2,344 38
c   cc "S.P.Nixon,   a "   1   1,364 84   (    (" Charges          3      48100
1-"  "__1 Interest         4     70479
3,91969                                   3,919169
1853.                      I   ~-11 —- -11 1852.1 - 1                          -
Feb. 28 To Expenses         2     510 00 Nov. 15 By Sales Co. A     4      61 16
c c    " Interest          4     268 31 1853., |   " T. Harvey, ~ netgains 1  5 s 9 1 7 Feb. 28 " Mdse.         2     838 70
cc' "  S.P..Nixon, "   c  1    5 8 91 8    "  "Commission         3     927 53
CC"  "   Charges           3     40 07
"   "  " Sales Co. B       5      89 20
—;:'            1,95666                                  1,956 166
Dr.                        Morton &    Godwin.                         Cr.
1852.                                    1852.
Aug. 31 To Cash             2    4,54000Aug 2 By Adv. pr. Phillis    2   4,540 00
i=C4                               00lAug yH                       __=.____
Dr.                          Otis & Brother.                           Cr.
1852.                                    1852.
Aug..31 To Cash             2    3,540 00 Aug. 2 By Adv. pr. Phillis  2  3,540 OC
___g.{31                              - j                     ______I1j_
Dr.                      Suarez, Brother &     Co.                     Cr.
1852.                                   1852.
Oct. 20 To Bills Pay.       3   6,43077 Oct. 11 By Adv. pr. Phillis  2      3077.159




5                       LEGER A, SET VI.
Dr.                     Sales of Pork, Co. A.                       Cr.
1852.                                  1852.
Nov. I To Amer. Mut. Ins. Co. 3  150 00 Nov. 6 By Bills Rec.      3    5,500 00
"  5  " Sundries          3   4,659 37  " 30 " Cash       1o,875.00 4  5,375 00, 15        ( "           4   5,15447
"   "t " Profit & Loss    4     6116
" 30 " Cash         10,875.00 4  850 00                            _
10,75 00                              10,875 00
Dr.                       Faxon, Field & Co.                        Cr.
1852.                                  1852.
Nov. 30 To Cash            4    5,000 00 Nov. 5 By Sales Co. A    3   4,628 12
1853.                                   " 15 "      "             4   4,68928
Jan. 15 " Bills Pay.       4   4,15512 1853.
Feb. 5  " Sundries    1,638.23 5  4,483 11 Feb. 28 " Sales Co. B  n  l. 5  2,364 06
"c  " " Bal. to Leger B fol. 2  1,956 7
13,638 23                             1363 13,63823
Dr.                      John Gundry &      Co.                     Cr.
1852. =                                1852.
Dec. 31 To Cash            4   1,93253 Nov. 15 By Sales for J. G. & Co. 4  193253
Dr.                 Sales of Merchandise, Co. B.                    Cr.
1853.                                  1853.
Jan. 15 To Bills Payable   4   4,155 12 Jan. 21 By Bills Rec.     5   4,657 25
Feb. 28 " Sundries    9,379.0 5  5,224 68 Feb. 19 "  "       7,588.755  2,93150
"  "    Profit & Loss (gain) 4  892   " 2 81 ( Bal. to Leger B, fol. 3  1,8 8 012 5
9,469 00    _                          9,469 00
Dr.                Adventure to Cincinnati, Co. C.                  Cr.
1853.                                  1853.
Feb. 5 To Sundries         5   4483 11 Feb. 2 8 By Bal. to Leger B, fol. 3  4,4 8 311
Dr.                    Douglass, Forest &    Co.                    Cr.
1853.                                  1853.
Feb. 2 8 To Bal. to Leger B, fol. 3  2,3 6 4 0 6 Feb. 28 By Sales Co. B  5  2,364 06
160




THOMAS HARVEY & CO.
LEGER B.
SET VI.
INDEX.
A.                            H.
Adventure to Canton -    - 2  Harvey, Thomas -.- 1
American Mutual Ins. Co. -  -   2  Hughes, Miller & Co.  -  4
Adventure to Cincinnati, Co. C  -  - 3
B.                            I
Bills Receivable  -   -   -   2  Interest -  --           4
Bills Payable  -  -.     2
C. 
Cash    -  -   -  -      -    Merchandise  -              2
Charges  - -..         3
Commission -..         3
D.                            N.
Douglass, Forest & Co. -  -- 3  Nixon, Salmon P.  -  -    1
E.
Expenses               -   4               P.
Profit & Loss -       -     3
F.
Faxon, Field & Co.  -    - 2
S.
G.              Ship Massachusetts -   -  - 1
Sales of Merchandise, Co. B  -  3
Grant, James L.            1  Sales of Matting, No. 2 -  - 4
Gaylord, Watson G. ~   -   4  Sales of Tea, No. 3  -   -  4
V                  161




~1                LEGER B, SET VI.
Dr.                         Thomas Harvey.                            Cr.
1853.                                   1853.
June 30 To Cash             3     450 00 Mar. 1 By Bal. fr. Leger A, fol. 1  36,824 02
",( " Bal.(Net Cap.)toNew%  46,280 3 2 June 30 " Interest     3     735 06
c"  "  " Profit& Loss 37,55.08 4  9,17124
46,730 32                               46,730 32
-~~ —-~_ -~-?~-          ~1853. _3
~~~<~      ~~         -" July 1 By Bal. fr. Old %     46,28032
Dr.                       Salmon P. Nixon.                            Cr.
1853.                                   1853.
June 30 To Cash             3     500 00 Mar. 1 By Bal. fr. LegerA, fol. 1  36,829 02
"  c " Bal.(Net.Cap.) toNew%  4 6,2 3 52 6 June 30 " Interest     3     735 00'c " "    Profit & Loss 37,564.024  9,17124
=-^    ^         __46,735 261     __                        46,73526
- I  IJuly 1 By Bal. fr. Old %          46,23526
Dr.                         James L. Grant.                            Cr.
1853.                                   1853.
June 3 0 To Bal. (Net. Cap.) toNew %  1 9,8 8 5 6 2 Mar. 31 By Cash  1  15,000 00
June 30 " Interest          3     300100
"     Profit & Loss 15'30.00 4  4,585 62
19,885 62                               19,885 62
July 1 By Bal. fr. Old %e       19,885 62
Dr.                               Cash.                               Cr.
1853.                                   1853.
Mar. 1 To Bal. fr. Leger A, fol. 2  9,750 71 Mar. 31 By Sundries    1   14,001 50
" 31 " Jas. L. Grant       1  15,000 00 May "  "    "              2  20,492 57
Apr. 30 " Sundries          1   11,144 51 June 30;           43,690.57 3  9,19650
May 31'     "         4,552.47 2  9,657 25  "  cc " Bal. to New %       1,8619 0
1853.                         |45,55247                                45,552147
July 1 To Bal. fr. Old %         1 861 90    ~
Dr.                       Ship Massachusetts.                          Cr.
1853.                                   1853.
Mar. 1 To Bal. fr. Leger A, fol. 1  26,291 85 May 9 By Sundries     2    8,500100
May 6   u Adv. to Canton    1   2,069o681 ( 31 " Cash           2o       5,000 00
c 31c    Cash              2   3,808567 June 3 o" Bal. (Inv't.) to New  22,5000
June 30i " Interest   33,602.04 3  1,43184
"  " I    P1'rofit & Loss (gain) 3  2,39796
36,00000                                36,000 00
1853. -                          3_ --
July 1 To Bal. fr. Old %       22,500 00
162




LEGER B, SET YI.                                        2
Dr.                         Bills Receivable.                           Cr.
1853.                                    1853.
Mar. 1 To Bal. fr. Leger A, fol. 1  13,828 75 Mar. 4 By W. G. Gaylord  1  2,931 50
Apr. 9  " Sales Co. B        1   5,525 00 Apr. 30 " Cash              1   6,240 00
May 18 " Sales No. 3         2  93,293 63 May 31 C"  "                2   4,657 25
June 10 " Sales No. 2  121,047.38 2  8,400100 June 3 o " Ba. to New   182875  1 0 7,2 8 6 3
121,047 38                                    121,047 38
185 3.                                           -                        _ _ _
July 1 To Bal. fr. Old %       107,218 63
Dr.                           Merchandise.                              Cr.
1853.                                    1853.
Mar. 1 To Bal. fr. Leger A, fol. 2  1,945 60 Apr. 30 By Cash          1   1,945 60
Dr.                       Adventure to Canton.                          Cr.
1853.                                    1853.
Mar. 1 To Bal. fr. Leger A, fol. 1  65,656 25 May 6 By Sundries       1   1,68236
25 " Bills Pay.           1    1,133 75  "  1 "  Ship Mass.        1    2,069 68
June20 " Sundries            2  15,950 77 June 1    Sales No. 3       2  82,34995
" 30 " Cash                3    7,344 00  i 15  ( Sales No. 2   84772    3,98278
90,084.77                                90,084.77    __
90,084 77    _                           90,08477
Dr.                           Bills Payable.                            Cr.
1853.                                    1853.
Mar. 31 To Cash              1  14,000 00 Mar. 1 By Bal. fr. Leger A, fol. 2  51,122 44
May "                  292    2  15,255190    25 " Adv. toCanton        1  1,133 75
-.-  -J    ~,,-r ~ y  29,255.90  Y                          52,256.19
Junle 30 " Bal. to New %        23,000 2 9, 
52,256119                                52,256 19
----  ~   ---         ~ 1853.. —
-  -  -   July 1 By Bal. fr. Old %        23,000 29
Dr.                American Mutual Insurance Co.                        Cr.
1853.
Mar. 1 To Bal. fr. Leger A, fol. 3  1,346 25
Dr.                        Faxon, Field &     Co.                       Cr.
1853.                                    1853.
Mar. 1 To Bal. fr. Leger A, fol. 5  1,956 77 Apr. 9 By Sales Co. B    1   1,71380
June 11 " Adv. Co. C       1 2   4,711136 June3 0   Bal.toNew             4,9543 
1853.                      6,663                                      686,,68 6613,6 13
July 1 To Bal. fr. Old %         4,954 33                            I 
163




3                      LEGER B, SET VI.
Dr.                 Sales of Merchandise, Co. B.                   Cr.
1853.                                 1853.
Mar. I To Bal. fr. Leger A, fol. 5  1,880 25 Apr. 9 By Bills Rec.  1  5,52500
Apr. 9 " Sundries     5,69145 1  3,81120  "  " " Profit & Loss 5691. 1  16645
5,691 45                              5,691 45
Dr.               Adventure to Cincinnati, Co. C.                  Cr.
1853.                                 1853.
Mar. 1 To Bal. fr. Leger A, fol. 5  4,483 11 June 11 By Faxon, Field & Co. 2  4,711 36
June3 0   Profit & Loss (gain) 3  2 2825
Dr.                    Douglass, Forest & Co.                      Cr.
1853.                                 1853.
June3 o To Bal. to New         4,07 7 8 6 Mar. I By Bal. fr. Leger A, fol. 5  2,364 06
Apr. 9 " Sales Co. B       1   1,713 80
-~  -    =='-853 —4,077.88               _
July 1 By Bal. fr. Old %       4,077 86
Dr.                            Charges.                            Cr.
1853.                                 1853.
June30 To Cash             3    237 00 Apr. 9 By Sales Co. B     1    107135
I    ( Profit & Loss (gain) 3  17135 June 1 " Sales No. 3     2     25600
rI 1  (gain)3   " 15 " Sales No. 2  os 2      4500
40835      1                          40835
Dr.                         Commission.                            Cr.
1853.                                 1853.
June 3 o To Profit & Loss (gain) 3  5,3609 3Apr. 9 By Sales Co. B  1  276 25
June 1    Sales No. 3      2   4,664 68
" 15 " Sales No. 2       2     420;00
^^^  ~~~~~~~~__ ________5 __  5,360.93
5,360 93     _                     _  5,360 93
Dr.                        Profit & Loss.                          Cr.
1853.                                 1853.
Apr. 9 To Sales Co. B      1    166 45 June 20 By Adv. to Canton  2  11,783 56
June 30 " Expenses         4    66550   " 30 " Ship Mass.        1   2,397196
"  " " T.Harvey,,netgains 1  9,17124  "    " " Adv. Co. C      3    22825
(f i| S.P.Nixon, " "| 1     9,171|24  " "    Charges          3     17135'  " " a J.L. Grant, " "  1  4,5856 2  "  " " Commission        3   5,360193
"I  "   " Interest          4   3,818 00
23,760 05                             23,760 05
164




LEGER B, SET VI.                                 4
Dr.                          Interest.                          Cr.
May 6 To Adv. to Canton   1     8412 Apr. 30 By Cash          1     2591
June 30 " Sundries  1,854.18 3  1,77006 June 1 " Sales No. 3  2     23 00
"  " " profit & Loss (gain) 3  3,81800 o  15 " Sales No. 2  2      24 22
20 " Adv. to Canton   2   4,167 21
( 30 " Ship Mass.  5,62,. 3  1,43184
_- --  5,672 18                      5;1(7:;518
Dr.                    Watson G. Gaylord.                       Cr.
1853.                               1853. 
Mar. 4 To Bills Rec.      1  2,93150 Apr. 30 By Cash          1   2,93300
" 31    Cash            1      1 50
Dr.                    Huglies, Miller & Co.                    Cr.
1853. 
May 6 To Adv. to Canton      1,598 24
Dr.                  Sales of Matting, No. 2.                   Cr.
1853.                                1853.
May 9 To Ship Mass.      2 I 2,500 00 June 10 By Bills Rec.   2   8,400 00
i 31 " Cash             2l 1,428 00
June 15 " Sundries  8,400. 21 4,472 00
-— _='   ~ -8,400 00                             8,400 00
---— _ —-- _,_. _._           _
Dr.                    Sales of Tea, No. 3.                     Cr.
1853.                                1853.
May 9 To Ship Mass.       2  6,000 00 May18 By Bills Rec.     2   9363
June 1 " Sundries   93293 2 87,293 63                         1:                   l tl......l                       i
Dr.                         Expenses.                           Cr.
1853.  I                            1853.
June 30 To Cash          3     665 50 June 3 o By Profit & Loss (loss) 3  6 6 55
165




INVENTORY-BOOK, SET VI.
Property remaining unsold February 28th, 1853:
Mferchandise.
100 Hhds. Cuba Molasses, 10,240 Gals. @  19  -  -  -  -  1,94560
Merchandise, Co. B.
74 Hhds. Muscovado Sugar, 88,066 lbs. ~  43'   -  4,183.14
75 Hhds. N. 0. Molasses, 7,879 Gals.  18,  -  -  1,457.61
$5,640.75
Our one-third of which is  -  -  -  -  -  1,880 25
Adv. to Cincinnati, Co. C.
Our one-half of Invoice of February 5th  -  4,483 11
Property remaining unsold June 30th, 1853:
Ship Massachusetts valued at  -         22,500 00
TRIAL BALANCE, LEGER A, SET VI. Oct. 30th, 1852.
Dr.   Cr.
L. F.
1  Thomas Harvey  - - - - -.  -               34,870 00
1  Salmon P. Nixon  -  - - - -                34,875 00
1  Ship Massachusetts  -  -  -  -      26,291 85
1  Bills Receivable  - - - -  -        24,655 75
1  Adventure to Canton  -  -  -  -  -  65,656 25
2  Cash  - --                           7,229 61
2  Bills Payable  -  -  - --                  53,438 27
2  Expenses -  - - - - -   -  -  -      1,190 00
3  Commission -  -  -. —                       2,344 38
3  Charges  -  -  -  -  - -                     48 00
3  American Mutual Insurance Co.  -  -  -  -  -  -  1,638 75
3 Sales for % of John Gundry & Co. -  --  440 75
4  Interest  -  - --     -                      70479
4  Profit & Loss  - - - - - - -  -  -           822 52
127,102 9  127,102 96
TRIAL BALANCE, LEGER A, SET VI. Feb. 28th, 1853.
Dr.   Cr.
L. F. 
1  Thomas Harvey  - - - - - -  -  -  -        36,234 85
1  Salmon P. Nixon  -   -   -  -  - -         36,239 84
1  Ship Massachusetts  - - - - - - - -  26,91 85
1  Bills Receivable  -  - - - - - -    13,828 75l
1  Adventure to Canton  -  -  -   -    65,656 25
2  Cash  -.            -  -  -.        9,750 71
2 Merchandise  -  -   -  -              1,106 90_
Am'ts carried forward  116,634 46  72,474 69
166




TRIAL BALANCE (continued).
L. F.
Am'ts Bro't forward  116,634 46  72,474 69
2  Bills Payable  - - - - - -  -  -   -        51,12244
2  Expenses  - - -  -   -  -  -  -  -     510 00
3  Commission  - - -  -  -  -  -   -  -          927 53
3  Charges -                                     40 07
3  American Mutual Insurance Co.  -  -  -  -  -  -  1,346 25
4  Interest -                             268 31
4  Profit & Loss  - - - - - -  -  -   -          6116
5  Faxon, Field & Co. -  -  -  -  -  -  -  -  1,956 77
5  Sales of Merchandise, Co. B  -  - - --  1,791 05
5  Adventure to Cincinnati, Co. C  -  -  -  -  -  4,483 11
5  Douglass, Forest & Co. -  - - - - - - -     22,364 06
126,989 95 126,989 95
TRIAL BALANCE, LEGER B, SET VI. March 1st, 1853.
Dr.   Cr.
L. F.
1 Thomas Harvey -  -  -                        36,824102
1  Salmon P. Nixon  -  -  -  --                36,829 02
1  Cash  -  -  -   -  -                  9,750 71
1  Ship Massachusetts - - - - - - - -   26,291 85
2  Bills Receivable  -  -  -  -  -  -  -  -  13,828 75
2  Merchandise  -  -  -  -  -            1,945 60
2  Adventure to Canton  -  -  -  --     65,656 25
2  Bills Payable  -  -  -  -  - -              51,122 44
2  American Mutual Insurance Co.  -  -  -  1,346 25
2  Faxon, Field & Co. -  -  -  -  -  -  -  -  1,956 77
3  Sales of Merchandise, Co. B  -  -  - -  1,880 25
3  Adventure to Cincinnati, Co. C  -  -  -  -  4,483 11
3  Douglass, Forest & Co.  -  -  -  -           2,364 06
127,139 54 127,139 54
TRIAL BALANCE, LEGER B, SET VI. June 30th, 1853.
Dr.   Cr.
L. F.
1 Thomas Harvey -  -  ---                      37,109 08
1 Salmon P. Nixon -           -     -          37,064 02
1  James L. Grant -  -                         15,300 00
1  Cash  -  -  - --           -  -  -    1,861 90
1  Ship Massachusetts  -  -  --         20,102 04
2  Bills Receivable      -             107,218 63
2  Bills Payable  ---  -  -                    23,000 29
2 American Mutual Insurance Co.  -  --   1,34625
2  Faxon, Field & Co.  - - --            4,95433
3  Adventure to Cincinnati, Co. C  - -  - - -    228 25
3  Douglass, Forest & Co. -  -  -  -  -  -  -  4,077 86
3  Charges  -  -  -  -                           171 35
3  Commission  -  --                           5,360 93
3  Profit & Loss -  - -                        11,617 11
4  Interest  -  -  -  -  -                     3,81800
4  Hughes, Miller & Co.  -  -  - -       1,59824
4  Expenses  -  -  -  -                   665 50
137,746 89 137,746 89
167








AUXILIARY BOOKS
FOR SET VI.
BANK-BOOK.             SALES-BOOK.
CHECK-BOOK.            OUTWARD-INVOICE-BOOK.
BILL-BOOK.             ACCOUNT-SALES-BOOK.
INVOICE-BOOK.          ACCOUNT-CURRENT-BOOK.
LETTER-BOOK.
W              169




BANK-BOOK AND CHECK-BOOK.
Phenix
BANK-BOOK.                            82.
This is a small memorandum book given by Banks to  JeTfJ 2a.
individuals who deposit funds with them. The deposits  6-eh.  t 9 i. Wo   9,000 00
made in Bank are entered in it by the receiving clerk,  Id  12tb.
at the time of deposit; and about once a month a clerk  fdsp   oo.     J ir0 00
of the Bank enters the amounts that have been checked
out, and balances the book. This is called writing up                 ~,600 00
and balancing.
Notes and Drafts lodged with the Bank for collection  TR   20ot.
are noted inside the money column, but not extended.                 l 
When collected they form a deposit in Bank, and are  cNtb Q0o2 cetb   },500 00
extended; but if protested for non-payment, a stroke of               f3,1 0000
the pen is made through the figures, and they are not
extended. If the Note or Draft does not fall due be-    o2.
fore the time of writing up and balancing, instead of an. 
extension a new entry must be made when collected.
No Bank-Book is given with Set VI, since the form  |,560 00
is so simple as not to require it.
O_ QO. Otd.
oIlte, ao. I C`Offeete3 1,000 00
CHECK-BOOK.,000 0
This is a printed book of blank checks, with a broad                956 00
margin, in which is noted deposits made in Bank. Whenever it is wished to draw out funds from the Bank, one  jefi. 22).
of these blank checks is filled and torn off, and a me-  Qr N'o. 3      25 00
morandum of it also made in the margin.
By adding all sums deposited, and subtracting all                   9,35 00
sums withdrawn or checked out, the amount remaining
in Bank is always readily seen, and must agree with
the balance of the Bank-Book when that book is written up and balanced.
Notes and Drafts deposited for collection are entered
in this book when they are collected. Some make a
memorandum of them at the time of deposit, but this is  fct. t1t.
unnecessary, as the Bank-Book is the voucher for their                     29
having been left with the Bank, and they do not form a  (  w,   29
real deposit upon which to draw until they are collected.             4. 60 7
Houses doing business with more than one Bank have
a separate Check-Book for each.
In Set VI, the Firm has dealings with the Phenix
Bank and the Bank of Commerce; but I have given a
portion only of the Check-Book of one of these Banks, 
this being sufficient to show the form. It will be a good
exercise for you to fill up the remainder of this book,
and also to make out a Check-Book for the Bank of   Cot.'2t.f
Commerce from the history of the business.          (fof eq'o. 5,f25 00
NOTE.-The portion of this page occupied with the explanation of the Bank-Book
and Check-Book constitutes properly a part of the Check-Book, being the back or
blank side of the checks. When the checks are torn off, nothing remains in this
book but the inner marginal memorandums.
170




CHECK-BOOK, SET VI.
Bank.
No....        NewYork,  f t   1852.
Fu cor of     i'  Pay^ toEt~6CLj koekfi y u  Wt ot)e,  or Bearer,
Date. a.tuj. 2', 18529..
ui curo.~ of  3Pay to                 o or Bearer,
I~ a.4,5.400  Dolls..r cts.  5M ianu 7s C a1e'u  @  (o.
_,54 _. octs..o, 4oN  j
~ z___o ____os____t.
ANo.. 2.:  -A:o. No    New York, QO on. 2a 1852.
Date.  2tc. 22, 1852.               A    n 
Fauror of  4    Pay to      --- ------------------ or Bearer,
toi0 t 0.I,  4,5000             - -- 7  r l  Dollars.'*ot n}e)Q.  i    ^@ fL,1S,5J0 l~Dolls.  cts..Favo ofl Pay to __ __       ------    - or Bearer,
c". c,  4295 003                    ioo Dollars.
[ Jt  2-Dolls.   cts.
N3to. 5.;
Date...  j^|  ffi^ No. -  New York, ------- 18
Date. Ot. 4i;, 1852.  jj  [pa~a i   BalK,
a cor of  -I Pay to          __     --- or Bearer,
O Wo v  Qo,  ~,272925 00  -_ _-7Dollars.
1O&  6^otici. J_______
lA113o. 5. ——.._WcZ   e —r-. —8
(ila ~U)CIRLua.  l  i    Dolls. cts. 
171




1                    BILL-BOOK, SET VI.
Bills
Receive.     Drawers.      In whose favor.  For what received.  Where payable.  Dte of
1852.                                                                   1852.
1 July  2 Bagley & Thompson  Thomas Harvey  For % of T. Harvey  Phenix Bank  May  7
2   "   " Wm. Longfellow    Salmon P. Nixon  "   " S. P. Nixon  New York  May 18
3   "   " Jonas Savage & Co.  "       i"         "   "       Bank of Com. Apr. 27
4   "   " Ezra Coe & Co.           "                            "     " "  i  "  "  Mar. 5
5   "  "  John Vanarsdale          "           " S "  "       New York    Apr. 30
6 Oct. 15 J. Falstaff & Co.  Ourselves     Sales of Sugar,No. 1  "  "     Oct. 15
7;    18 Lyman F. Bache                     "     "    "      "  " S     Oct. 18
8 Nov. 6 Jeremiah Brown                    Sales of PorkCo. A  Phenix Bank  Nov. 6
1863.                                                                   1853.
9 Jan. 21 James Maitland & Co.             Sales of Mdse.,Co. B. Bank of Con. Jan. 21
10 Feb. 19 Watson G. Gaylord                     "  "    "    New York     Feb. 19
11 Apr. 9 Leonard Barber & Co.   "            "       "      "  "  "       Apr. 9
12 May 18 Carrigan & Allen   Myers & Wolbert Sales of Tea,No. 3  Bank of Com. May 18
13 i"      Brooks & Monteith  i"          "        "    "        c cc"     May 18
14       " < Burrill & Webb            "         "      " "   Phenix Bank  May 18
15  "    "( J. Dugan & Co.                    "       "          " c  "    May 18
16 June 10 Fithian & Morris  Ourselves      Sales of Matting, No. 2  "  "  June 10
Bills
When        Drawers.                       On whom   For what given.  | Where payable.
Issued.                                      drawn.
1852
July  9 Ourselves         A. A. Lawrence & Co.       Drills         Phenix Bank
2   4                                it  A d it          is             f  
3  it                                9 (  I             I   4            I      4
4  "    I 4                 Atlantic Ins. Co.          Insurance      New York
5  "   16 1                 New York Ins. Co.                    ".
6 Aug. 2                    Amer. Mutual Ins. Co.  "                   "    "
7 Oct. 20 Suarez, Brother & Co. Hart & Cushing  Ourselves Adv. pr. Phillis  "  "
8 Nov. 8 Ourselves          Caleb Johnson              Mdse.          Phenix Bank
1853.
9 |Jan. 15    <             Douglass, Forest & Co.     Mdse. Co. B. & F.F.& Co. Bank of Con.
10; Feb. 1         1         Bailey & Welsh             Coffee           "     "
111I Mar. 25   "             Atlantic Ins. Co.          Insurance      New York
Bills Receivable and Bills Payable are usually bound in opposite ends of' the same
book, styled Bill-Book. This book is so simple, that the student will see, by inspection, its utility; and all necessary explanations are made by the headings of the different columns.  By comparing the "Amount" and "When paid" columns with the Leger
accounts of Bills Receivable and Bills Payable, they will be found to agree at all times,
if correct. The column, " On whom drawn," in Bills Payable, (in the formula above,)
172




BILL-BOOK, SET VI.                                                1
Receivable.
When due.
Time to
Timeato grun.'    b p.,_ O' ~  Amount.  When paid.      Remarks and Endorsements.
3 mos.                   10            1,00000 Aug. 10
60 d's                20               4,500 00 July 20  Deposited in Phenix Bank July 10th.
4 mos.                   30            2,22550 Aug. 30
6 mos.                     8            645 00 Sep.  8
6 mos.                          2      1,960 75 Nov. 2   Deposited in Bank ofCommerce Oct. 18th.
6 mos.         18                     16,455 00 Apr. 18  Discounted at Phenix Bank Jan. 10th.
6 mos.         21                      6,240 00 Apr. 21  Deposited in Phenix Bank April 13th.
30 d's                             9   5,530 42 Dec.  9  Discounted at Phenix Bank Nov. 10th.
4  od's          24                    4,657 25 May 24     Dep. Mar. 1st, and protested Mar. 4th
s1 mos       4                         292 250 Ar. 26      Paid with Int. & Charges April 26th.
6 mos.                        12       5,525 00
6 mos.                          21    14,256 25          Endors'd to our order byMyers &Wolber.
6 mos.                          21    29,434 33'    d     "                   S
6 mos.                      I   21    35,620 20                  "                 i
6 mos.                          21    13,982 85              ", 
4 mos.                        13       8,400 00
Payable.
Date of Note. Time to run.  When due.  Amount   When paid.      Remarks and Endorsements.
1852.                  1852.
July    9   4 mos.     Nov.    9/12  14,000100 Nov. 12
1853.
S t     11 6 mos.    Jan.    9/12   14,000 00 Jan. 12
*i   "     8 mos.    Mar.    9/12   14,00000 Mar. 12
d     "   12 mos.    July    9/12    1,081 25
116      12 mos.    July    16/19   1,926125
Aug.    2   12 mos.    Aug.    2/5    2,000 00
1852.
Oct.  -20   30 d's     Nov.   19/22   6,430 77 Nov. 22
1853.
Nov.    8   6 mos.     May     8/11  15,255 90 May  11
1853.
Jan.   15   6 mos.     July   15/18   8,310124
Feb.    1   6 mos.     Aug.    1/4    8,548 80
Mar.   25   6 mos.     Sep.   25/28   1,133 75
may also be inserted in Bills Receivable, if desired.   The column, "When due," will be
found convenient for a small business, as seen in the latter form; but where many
Notes are received and issued, the former will be preferable, as by it can be more
readily seen what Notes fall due on a certain month or day.
N. B. Notes falling due on Sunday must be paid on the Saturday preceding.
173




1                  INVOICE-BOOK, SET VI.
Messrs. Thomas Harvey & Co.
To Salmon P. Nixon       Dr.
To 100 Casks Ginseng, 48,120 lbs., gross,
8,120 " tare,
40,000 " net, @ 35                               $14,000 00
New York, July 2d, 1852.
Messrs. Thomas Harvey        Co.
Bo't of A. A. Lawrence ~ Co.
G. T.C. 
# 1 to500 500 Bales Drills, ea. 40 Pieces, ea. 30 Yds. = 600,000 Yds., @ 77  $42,000 00
Delivered on Ship Massachusetts free of charge.
Received in payment their Notes, @ 4, 6, & 8 mos.
A. A. LAWRENCE & Co.
New York, July 9th, 1852.
Messrs. Thomas Harvey & Co.
Bo't of Haines, Hampton      ( Co.
S, T. C. 2,000 Pigs Lead, 140,000 lbs., @ 5 /                               $7,000 00
Delivered on Ship Massachusetts free of charge.
Received payment.
HAINES, HAMPTON & CO.
New York, July 9th, 1852.
Jivoice of Flour, shipped by John Gundry ~ Co., pr. Steamboat Boston,
Robinson master, via Pittsburg, and consigned to Messrs. Thomas Harvey & Co.,
Nzew York, to be soldfor account of Shippers.
11.   500 Bbls. Flour, @ $3,                                               1,500 00
Drayage, Cooperage, Labor, &c.,                     42.25
Commission on $1,500, @ 22o,                        37.50      79 75
EE. E.         $1,579i75
JOHN GUNDRY & Co.
Cincinnati, September 13th, 1852.
An Invoice is a statement in detail of goods sold, shipped abroad, or consigned to
another to be sold. When applied to goods sold, it is frequently called a Bill or Bill
of.ale.
The Invoice-Book is used for taking copies of the Invoices which accompany goods
purchased or received on consignment.    Some houses, instead of copying, paste their
Invoices in a blank Invoice-Book, prepared for the purpose.
In order to save room, I have given above only a few of the Invoices which occur in
this Set; but those given are sufficient to show the different methods of making out
Invoices; and you can see by the history the instances in which other Invoices are
required, and, imagining the details, fill them up for yourself.
Invoices of goods to be sold on commission may be kept in a separate book, if
preferred.
174




SALES-BOOK, SET VI.
New York, October 15th, 1852.
P. B.  Sold to J. Falstaff & Co.,             Note ~ 6 mos.,:1 to 300        300 Boxes Sugar-Sales of Sugar,No. 1-ea. 480 lbs., ~ 61/ 9,000100
P. D.          100 Hhds.   -  "         ( " -ea. 1420 (" 5'/ 7,455100 16,455 00
J:501to00                        1
5Ol~toG00 ___________________ 18th                             ---
P. c.  Sold to Lyman F. Bache,                Note ( 6 mos.,
#301to500        200 Boxes Sugar-Sales of Sugar, No. 1-ea. 480 lbs., @ 62/  6,240 00
Nov. 6th -
Sold Jeremiah Brown,
T H            600 Bbls. Pork-Sales of Pork, Co. A- @ $11              5,500 00
Took Note, @ 30 days, for $5,530.42
Dis. on Note for 33 days, to make it equal to Cash         30 42
10th
Sold H. S. Pierson & Co.,              Cash,
RI           500 Bbls. Flour-Sales for % J. Gundry & Co. —  $5.  2,500 00
T H            500 "   Pork-Sales of Pork,Co. A-     "10.75  5,375 00  7,875 00
1__________  ~    ~16th                             --
Sold James Maitland & Co.,             Cash,
500 Bbls. Lard, 100,000 lbs.,  @ 5            5,25000
50 Hhds. Molasses, 5,120 Gals., "20           1,024,00   6,274 00
Dec. 6th
Sold Stiles & Nesmith,                 Cash,
125 Hhds. Sugar, 157,500 lbs., ~ 5/                      7,875 00
Jan. 21st, 1853
Sold James Maitland & Co.,             Note ~ 4 mos.,
<.>'25,909 lbs., Loaf Sugar-Sales of Mdse.,Co. B —  9/  2,331 81
>     ~    29,068 " Crushed " -  "    "    " -    8      2,325 44  4,657 25
" -             ______ -:Feb. 19th ____
Sold Watson G. Gaylord,                Note @ 10 d's,
</j> ~     50 Tierces Rice-Sales of Mdse., Co. B-90,200 lbs., @ 3  2,931 50
April 9th
Sold Leonard Barber & Co.,             Note ( 6 mos.,
74 Hhds.Mus'do Sugar-Sales Mdse.,Co.B-87,94321bs.(@4f/ 4, 067 39?Xs 75 " N. O. Molasses, "       "   "   7,879 Gals. " 182 1,457 61  5,525 00
30th
Sold Peter Parker,                     Check,
100 Hhds. Cuba Molasses, 10,240 Gals., @ 19/             1,9 560
June 10th
Sold Fithian & Morris,                 Note @ 4 mos.,
4. T. 6         1,000 Rolls 4/4 White Matting-Sales of Matting, No. 240,000 Yds., ~ 21/                                       84000
This book is used for recording, in detail, all sales.
In houses doing a mixed business, the Sales-Book and Commission-Sales-Book can,
with equal propriety, be kept together or separate, as convenience may dictate. They
are here blended in one.
In actual business, the sale is first recorded here, and subsequently the entry is made
front this book to the Day-Book.
175




1 OUTWARD-INVOICE-BOOK, SET VI.
Invoice of Merchandise, shipped by Thomas Harvey & Co., pr. Ship Massachu.
setts, Captain Fillmore, for Canton, and consigned to Hughes, Miller f Co., to be
-soldfor account and risk of Shippers.
G. T. C.
#1 to 500 500 Bales Drills, ea. 40 Pieces, ea. 30 Yds. = 600,000 Yds., ( 7$   42,000 00
t501to600 100 Casks Ginseng, 48,120 lbs., gross,
8,120 " tare,
40,000 " net, @ 35$                                  14,000 00
2,000 Pigs Lead, 140,000 lbs., @ 56                                    7,000 00
Charges.
Ins. on $72,000, @ 12%, and policy            1,081.25
Cor. on $63,000, @ 22%                        1,675.00   2,656 25
E. E.         $ 65,656 25
New York, July 9th, 1852.
THOMAs HARVEY & Co.
Invoice of Merchandise, shipped by Thomas Harvey            Co., pr. Bark Phillis,
Bingham    master, and consigned to Daniel Starr      U Co., Kingston, Jamaica; Sales
and returns for account of Shippers.
3>   D. 1,000 Bbls. Flour, @ $4,50                                   4,500.00
Inspection 1$, Lining 38 pr. Bbl.               40.00    4,540 00
<0   E. 1,000 Bbls. Corn Meal, @ $3                                  8,000.00
Inspection 1, Lining 38 pr. Bbl.               40.00    3,040 00
<0> F. 400 Bags Corn, (ea. 2 Bushels,) @ $1.25                                  500 00
8,080 00
Corn. on $8,080, @ 22%                         202.00
Porterage & Labor                               71.50     273 50
Ins. on $9,000, for the voyage, @ 3%           270.00
Policy                       1.25     271 25
New York, Aug. 2d, 1852.                           E. E.           $8,624 75
THOMAS HARVEY & Co.
Invoice of Merchandise, shipped pr. D. Leech          Co.'s line, via Pennsylvania,
and consigned to Faxon, Field & Co., Cincinnati, to be sold for joint account of
Shippers and Consignees.
[W-1    2,000 Sacks Coffee, 131,520 lbs., @ 62$                               8,548 80
Charges.
Ins. on $9,500, ( 12%                          142.50
Drayage, Labor, Weighing, Mending Bags, &c.     61.20
Corn. on $8,548.80, ~ 22%                      213.72     417142
$8,966 22
E. E.   New York, Feb. 5th, 1853.
THOMAS HARVEY & Co.
In the Outward-Invoice-Book, copies are taken of Invoices shipped abroad, or con
signed to others to be sold for your account.
176




ACCOUNT-SALES-BOOK, SET VI.
Sales of Sugar (No. l),for account of Adventure pr. Bark Phillis.
1852.
P. B.  Oct. 15th. Sold J. Fallstaff & Co., @ 6 mos.,
# 1 to 300         300 Boxes Sugar, ea. 480 lbs., @ 61p           9,000.00
#501to600          100 Hhds. "    " 1,420 "  " 51                  7,455.00  16,455 00
P. C.  Oct. 18th. Sold Lyman F. Bache, @ 6 mos.,
#301to500          200 Boxes Sugar, ea. 480 lbs., (@ 62'                      6,240 00
22,695 00
Charges.
Duties paid Oct. 11th                       4,274.29
Int. on $4,274.29 for 8 days                   5.70
Cooperage, Stor. & Lab.                       55.50
Cor. on $22,695, ( 22%                       567.38    4,902 87
E. E.   Net Proceeds due June 8th /53  $17,792 13
New York, Oct. 19th, 1852.
THOMAS HARVEY & Co.
Account-Sales of Flour, received, pr. D. Leech     C Co.'s line, from Cincinnati, for
account and risk of J. Gundry    t Co.
1852.:ov. 10 By I. S. Pierson & Co.,
Ml   500 Bbls. Flour, @ $6                                      2,500100
Charges.
To Freight & Drayage                         440.75
"Int. on $440.75, from Sept. 22d              3.97
Stor., Lab., Cooperage, &c.                  60.25
"Cor. on $2,500, ~ 22%                        62.50     567 47
E. E.   Net Proceeds due Nov. 12th  $1,932 53
New York, Nov. 15th, 1852.
THOMAS HARVEY & CO.
When goods received on commission are sold, the agent makes out, for the inspection of the consignor, a detailed account of the sales of said goods, together with such
charges as have been made on account of the same. In making out an Account-Sales,
the mode of procedure is, to turn to the proper account in the Leger, and from thence
refer to the necessary details, as found in the books of original entry. For the details
of the sale, reference must be had to the Sales-Book; the charges, commission, &c.,
will be found in the Day-Book.
A variety of forms are here given, of which the first and last are the most common
in business.  Thinking it unnecessary to occupy space with them, I have omitted
X                          177




ACCOUNT-SALES-BOOK, SET VI.
Faxon, Field d Co. and Thomas Harvey? Co.,
Dr.                          In Account-Sales with Thomas Harvey            Co.   Cr.
1852.                                          1852. 
Nov. 1 To Ins. on $10,000,  i2 125000         Nov. 6 ByJ. Brown,
5  " Freight                    850100            TH 500 Bbls. Pork, @ $11   5,500 00
" Drayage                        3125
15 "Int. on Charges to date         1 82   "   10 " II. S. Pierson & Co.,
"it    " "LStor., Lab., Cooperage, &c.  4150          TH 500Bbls.Pork, $10.75     5,375 00
c"  "  " Ins. vs. Fire, on $10,000,
@ 12%                      150100 
Cor. on $10,875, @ 22%       27187 
t "    " Faxon, Field & Co.'s 5 Net 
Proceeds, due 10th inst.  4,689 28
I"  "'" Thos. Harvey & Co.'s Net
Proceeds, due 10th inst.  4,689 28
=__                    $10,875 00                                    $10,875 00
E. E.   New York, Nov. 15th, 1852.
THOMAS HARVEY & CO.
Sales of Merchandise, for joint account of Faxon, Field          C Co., Douglass, Forest' Co., and Ourselves.
1853.
Jan. 21 Sold James Maitland & Co., @ 4 mos.,
>   25,909 lbs. Loaf Sugar, @ 9,                       2,331.81
<rE      29,068 "' Crushed"   " 8                           2,325.44    4,657 25
Feb. 19 Sold Watson G. Gaylord, @ 10 days,
>    50 Tierces Rice, 90,200 lbs., ( 31,                            2,931 50
7,588 75
Charges.
Ins. vs. Fire on $6,500, (i Am't Ins.,) @ 12%     97.50
Cooperage, Weigh., & Lab.                         19.62
Cor. & Guar. on $7,588.75, @ 5%                  379.44      496 56
Net Proceeds, due Apr. 27th  $7,092 19
Faxon, Field & Co.'s    J net proceeds                2,364.06
Douglass, Forest & Co.'s  "   "                     2,364.06
Thomas Harvey & Co.'s i "    "                      2,364.07
E. E.   New York, Feb. 28th, 1853.
THOMAS HARVEY & Co.
several of the Account-Sales rendered in Set VII, and you can test your knowledge
obtained of the olies given by making out those omitted.
The object of the Account-Sales-Book is to preserve a copy of the Account-Sales
rendered to consignors.
178




ACCOUNT-CURRENT-BOOK, SET VI.
Account-Current of Adventure pr. Bark           Phillis, with Interest to June 8th, 1853.
Date.                       Description.                      Time.      Interest.    Amount.
1852.               Dr.
&ug.   2  To Invoice of Flour, Corn Meal, and Corn,
Shipped to Kingston, Ja., as pr. O.-I.-B.     10 m. 6 d's      439 86    8,624 75
Oct.   5   " Ins. in American Mutual Ins. Co., on $6,000, @ 12%  8 " 3 "        365         90 00..   11  " Bal. due Suarez, Brother & Co., Havana, as pr. their
Account-Current                                                          6,430 77
Int. on $6,430.77, from Nov. 22d, the date when
their Draft on us falls due                    6 " 17 "        211 14'    12  " Balance of Charter money                1,000.00
<   " "  "Demurrage, 5 days, @ $25                  125.00  7 "27 "          44 44     1,125 00
Total Interest                  699 09       699 09
Net Gains, due June 8 /53                                822 52
17,792 13
1852.               Cr.
Oct.  19 By Net Proceeds of Sales of Sugars, due, pr. average,
June 8 /53                                                              17,792 13
E. E.    New York, Oct. 22d, 1852.
Adventure to Canton in Account-Current with            Thomas Harvey          U Co.
Interest calculated to Feb. 23d, 1854.
Date.                       Description.                      Time.      Interest.   Amount.
1852.              Dr.
July   9  To Invoice of Cargo, as pr. O.-I.-B., due Nov. 12th  15 m.11 d's  5,044 59   65,656 25
1853.
Mar. 25     Our Note @ 6 mos., to the Atlantic Ins. Co., for Ins.
on Cargo homeward                              4 " 25           27 40    1,133 75
June  18  " Set of Exchange, @ 90 days' sight, on Baring Brothers & Co., London, Bo't pr. Check, and remitted
to cover Hughes, Miller & Co.'s Drafts from Canton, due in London, Oct. 3d.
Am't ~1,530, (i 8  Prem.                      8 " 5 "         299 88    7,344 00
Debit Bal. of Interest                           4,167 21
Net Gains, due Feb. 23/54                              11,7 3 5 
5,371 87   90,084 77
1853.               Cr.
May    6  By Bal. in Hughes, Miller & Co.'s hands,
Due Jan. 1 /53                       1,598.24
5% Dis., to convert to Canton funds     84.12 13 m.22 d's     115 52     1,682 36
"'"   Port Charges, Piloting, Repairs, Sea Stores, &c., for
Ship Massachusetts, due Jan. 1 /53   1,966.20
5% Dis., to convert to Canton funds    103.48 13 5" 22 "      142 12     2,069 68
June   1  " Sales of Tea No. 3, due Dec. 14 /53               2" 9"           947 02   82,349 95
15     " Sales of Matting No. 2, due Feb. 23 /54                                     3,982 78
Debit Bal. of Interest              4,1 7 21
l________     56,371 87 90,084 77
E. E.        New York, June 20th, 1853.
179




ACCOUNT-CURRENT-BOOK, SET VI.                                                                                   2.Messrs. Faxon, Field d Co., Cincinnati, in Account-Current and Interest-account with Thiomtas Harvey' Co., to
Dr.                                                          July 1st, 1853.                                                              Cr.
Date.  When due.      Description of Debits.  Amount.    0 |    Interest.  Date.  When due.    Description of Credits.  AmNount |    &   Interest
182.    1852.                                                            1852.    1852.
Nov. 30  Nov. 6  To Bill of Exchange, on Bacon &                         Nov. 5   Oct. 26  By our  Invoice of Pork, furBoswell, Cincinnati, at par   5,000 00  7 25   195 83                    nished by you to be sold, for
1853.   1853.                                                                              your and our joint %          4,628 12  8  5   188 98
Jan. 15  July 18  To our Note,  6 mos., favor of                           " 15   Nov. 10 By your NetProceeds of Sales
Douglass,Forest & Co.,in Pay't                                           of Pork, for your and our joint
of your I Invoice furnished by                                            %, pr. A't-Sales rendered    4,689 28  7 21    180 54
them, tobe soldforyour, their,                          1853.    1853.
and our joint %               4,155 12                 Feb. 28 April27 By your I Net Proceeds of Sales
Feb. 5   Feb. 5  To your j Invoice of Coffee, fur-                                          of Sugar and Rice, for your,
nished by us, to be sold for                                             Douglass, Forest & Co.'s, and
I-IS^    ~      your and our joint %          4,483 11  4 26    109 09                    our joint %, as pr. Ac't-Sales
o June 11 Aug. 10 To our NetProceeds of Sales of                                               rendered                      2,364 06  2  4    2522
Coffee, for your and our joint                         April 9  Oct. 26  By your i Net Proceeds of Sales
%, pr. your Ac't-Sales        4,711 36                                   of Sugars and Molasses, for
July 1           To Dis. on $1,713.80, pr. contra         3 25     3285                     your, D., F. & Co.'s, and our
Credit Bal. of Interest                    99 6                    joint %, pr. Ac't-Sales Ren'd  1,713 80
July 1           By Dis. on $4,155.12, pr. contra            17    11 77
/___  d___  "< 1       By"    " $4,711.36, "   "                1  9     30 62
I  18,349159    11437113                                                  13,395 26         437 13
Add Bal. of Interest        99 36' I   I        | By Bal. carried down           4, 54 9
1853.  - ^                18,349 59                        _____  _                                18,349 59I
1863.,
July 1           To Bal. due us, E. E.          4,854 97                                                                                   I
New York, July 1st, 1853.
THOMAS HARVEY & Co.
The Account-Current-Book is used for copying Ac't-Currents.          An Ac't-Current, as will be seen by the formulas given, is a detailed
statement of business transactions, and may be made out with or without interest. Between houses of extensive dealing, an Ac'tCurrent is usually made out before settlement, by one of the parties, and frequently by both, for the adjustment of differences in
interest. &c.




LETTER-BOOK, SET VI.
New York, September 22nd, 1852.
Messrs. John Gundry p Co.,
Cincinnati:
GENTLEMEN,-We have this day received, pr. D. Leech
& Co.'s line, 500 Bbls. Flour, in good order, consigned to us to be sold for your % and
risk, as pr. your Invoice of the 13th inst.
As prices are rising, we think it advisable not to push it upon the market at present, but shall endeavor to seize the most favorable opportunity for effecting sales to
advantage.
Very respectfully,
Your ob't servants,
THOMAS HARVEY & CO.
New York, February 5th, 1853.
GENTLEMEN,
Your reply to our proposition to unite in a Company speculation of Mdse.,
to be sold at Cincinnati, came to hand on the 1st inst., and in accordance therewith,
we have this day shipped 2,000 Sacks Coffee, as pr. Invoice enclosed, and consigned
them to you to be sold for your and our %, jointly. One-half of the Invoice we have
charged to your %, in accordance with the terms of our agreement.-Am't $4,483.11.
A portion of the Sugars consigned to us for joint % of yourselves, Douglass, Forest
& Co., and ourselves, have been advantageously sold, and there is prospect of another
sale soon.
Hoping this new adventure may prove for our mutual benefit,
We remain, gentlemen,
Very respectfully, yours,
Messrs. Faxon, Field  G Co.,                     THOMAS HARVEY & Co.
Cincinnati.
This book is used for taking copies of all business letters of importance, written to
others. Letters received are usually filed away. A business letter should be written
in brief terms and yet explicitly. To be well skilled in mercantile correspondence is
no small acquirement.
181




ADDITIONAL AUXILIARIES.
In addition to the auxiliary books already given, there are several others of less importance, but still convenient in some branches of business; among which are the followingORDER-BOOK, for taking copies of all orders received for merchandise.
MEMORANDUM-BOOK, for noting down mercantile affairs of importance, that have
occurred or are likely to occur.
EXPENSE-BOOK, for keeping an account in detail of those smaller expenses which are
constantly occurring about an establishment.
POSTAGE-BOOK, for keeping an account of postages paid.
TIME-BOOK, for keeping the time of hands employed.    See Form below.
FORM OF TIME-BOOK.
September.    /    /     /      1852.     1/f/a  S./    Spinning room No. 1.
Names.    6 7 8 9 10 11      Wag's Am't. 13 14 15 16 1 18 ~ Wag's Am't. Remarks.
Ann Robins   1 1 1 1 1 1 6       4,00 4 00    1   1 1 1   1 6  4,00 4 00Goodh'd.
MaryJ.Linn I 1 - 1 1 1       41   3,00 225  1 1 1 1 1 1 6       3,00 300        "
AnneBowen       1 1      i 15    3,00 250 1         -~      1   3,0    50 Sick.
Bet.S.Collins 1 1 1 1     1 5   3,50 292 1 1 1 1 1 1 6         3,50  350 Goodh'd.
Susan Holt                 1     350 262 1 1 1 1          1  5  3,50 292    ce cc
PhebeMartin  1    1  1   1 1 6  2,50 250 1 1     1 1 1 1 5, 250 229 Slow.,.__                   _        2.50 __     -_.
Manufacturers generally make use of this book.
When hands are employed by the month, the columns for days may be increased in
number to twenty-six, the number of working days in a month.
182




LEGER ACCOUNTS.
(Continued from Page 120)
Sales Accounts, or Consignment.dccounts.
THESE accounts show the charges on goods consigned to you to be sold for others,
and the total sales or proceeds of the same.
The debtor exhibits all charges against them, the creditor all sales of goods con
signed, and the difference the net proceeds due the consignors.
An account of this kind is closed by a Day-Book entry, debiting it and crediting
the consignor with the amount of net proceeds. Or if payment be made immediately,
the account which furnishes the means of payment may be credited instead of the
consignor.
Merchandise in Co., and other Co. Speculating a.ccounts.
These accounts are kept to ascertain what you make or lose in each Co. Speculation
of which you have the management; also the amount of net proceeds due each individual of the Co.
The debit side contains all that the Co. costs you, viz.: the amount of your investment, the charges and expenses paid by you, your commission for selling, and the
amount of net proceeds due the other individuals of the Co.
The credit side contains all that the Co. produces you, viz.: the total proceeds of
Co. goods sold, and, at closing, your portion of the balance unsold, if any.
The difference will be your gain or loss on the Co., which is usually carried to the
Profit & Loss account by a Day-Book entry, although it may be transferred upon the
Leger.
Aidventure, or Shipment Accounts.
The debit side of an account of this kind shows the cost of goods consigned by you
to another, to be sold for you.
The credit side shows the net proceeds of sales as rendered by the party abroad, or
the net proceeds of sales, by you, of goods received in return for those sent abroad.
The difference will be a gain or loss, which is carried to the Profit & Loss account,
usually by a Day-Book entry.
There are frequently other items of debit and credit, especially in foreign adventures, but the general rule of debiting what costs you value and crediting what produces
you value, will enable you always to make the correct entries.
Adventure in Co., or Shipment in Co.
The debit side is to show what the adventure costs you, or your share of the Invoice
of goods consigned; and the credit side the amount it produces you, or your share of
the net proceeds of sales, as rendered by the party abroad.
The difference is always a gain or loss, and is closed into Profit & Loss, usually by
a Day-Book entry. If all the Ac't-Sales have not been received at the time of closing.
the account may be credited "By Balance," for the amount remaining unsold.
183




QUESTIONS FOR REVIEW, SET VI.
WHAT kind of business is represented in Set VI?
How many years' business, and with how many partners for each year?
Explain the object and treatment of a Cash-Book, as used with Sets I to V inclusive.
What other and still more important office has it, as used with Set VI?
How often should it be balanced?
In making out account-sales and account-currents, and in settling accounts with individuals, what
must be done with the Cash-Book?
Why are the accounts of Ship Massachusetts and Adventure to Canton left open in closing Leger A?
Explain how to transfer accounts from one Leger to another.
What test of the new Leger should be taken immediately after opening all the accounts in it?
In this Set what are the proper entries to be made by the firm, in both Day-Book and CashBook, for each of the following transactions-and why?
1st, Shipment of a cargo to Canton, pr. Ship Massachusetts, part of which was bought on
their notes, part for cash, and part furnished from store; their note being also given for
insurance, and they charging a commission for doing the business.-2d, Giving their note to
an Insurance Co. for marine insurance on open policy.-3d, Purchase of a cargo for cash, and
shipment of same pr. Bark Phillis, to the West Indies, to be sold for their account; insurance
being effected on open policy, and a charge being made for drayage, labor and commission.4th, Receipt of flour on consignment, to be sold for account of another person, and payment
of freight thereon in cash; the drayage being performed by their drays.-5th, Insurance, on
open policy, upon homeward cargo of Bark Phillis from the West Indies.-6th, Receipt of
statements in detail of proceeds and expenditures on account of Adventure pr. Bark Phillis, by
which it appears there is a balance owing by the firm to the commission merchants at Havana.7th, Payment of duties on invoice of sugar received pr. Bark Phillis.-8th, Payment of
charter money and demurrage on voyage of Bark Phillis.-9th, Sale of sugar received pr.
Phillis, for another person's note.-10th, Closure of the Sales-account of sugar received pr.
Bark Phillis, debiting it with the proper charges, and transferring the net proceeds to the Adventure account.-llth, Debit excess of interest on the Adventure account, and net gains as
shown by the account-current.-12th, Effecting insurance on open policy on pork to be sold for
joint account of firm and another person.-13th, Receipt of pork from a person abroad, furnished by that person to be sold on his and their joint account, and payment of freight on same
in cash-drayage done by their drays.-14th, Sale, for a person's note, of pork received to be
sold on joint account.-15th, Sale, for cash, of flour received to be sold for account of another
pcrson.-16th, Closure of the Sales account of flour sold for another person, and transfer of
the net proceeds to his account.-17th, Debiting the Sales account of pork sold on joint account
with the proper charges, and transfer of a share of the net proceeds to account of the person
interested with the firm in the company speculation.-18th, Entry of gains accruing on the
joint pork speculation.-19th, Shipment of coffee to another person, to be sold by him on his
and their joint account, with insurance on open policy, charges and commission thereon.-20th,
Protest of another person's note at bank.-21st, Payment by another of his note which has
been protested, with interest.-22d, Receipt of statements of voyage to Canton, showing a
balance against the commission merchants there, 5 % discount being required to convert United
States currency into Canton funds.-23d, Receipt of statements showing that a portion of the
proceeds of Adventure to Canton were appropriated to the payment of expenses of Ship Massachusetts at Canton.-24th, Closure of Sales of Tea, No. 3.-25th, Receipt of an account-sales
for a joint adventure abroad.-26th, Closure of Sales of Matting, No. 2.-27th, Purchase for
cash of a set of exchange, and remittance of same to cover drafts from Canton on account of
the voyage.-28th, Closure of Adventure to Canton, by entry of debit balance of interest, and
the net gains.
Describe the form and use of the Bank-Book;-Check-Book;-Bill-Book;-Invoice-Book;Sales-Book;-Outward-Invoice-Book;-Ac't-Sales-Book;-Ac't-Current-Book;-Letter-Book.
What other Auxiliaries are sometimes used, and for what?
What do Sales accounts or Consignment accounts show?
What does the debtor exhibit?-What the creditor — What the difference? —How closed?
For what are Merchandise in Co. and other Co. Speculating accounts kept?
What does the debit side contain?-What the credit — What will the difference be and how closed?
What does the debit side of Adventure or Shipment accounts show?
What does the credit side show?-What will the diference be and how closed?
What does the debit side of an Adventure in Co. or Shipment in Co. show?
What does the credit side show?-What is the difference and how closed?
184




SET OF STEAMBOAT BOOKS.
This set of books is adapted to the western river business, and will be found particularly
serviceable to clerks on board western boats, but may also be applied to other boating
operations.
The books given are a Freight-Book, Passage-Book, Cash-Book, Leger, and Crews'
Leger, which are all described under their several heads. There are, besides, several
smaller books, used for taking memorandums; as, the Deck-Passage-Book, for entering
sums received from deck passengers; the Fuel-Book, which contains printed blank
receipts, to be filled up, when fuel is purchased, and signed by the person to whom payment is made; and a memorandum book for taking an account of goods when received
on board or delivered, from which the record is made in the Freight-Book. A Bill-Book
is sometimes kept, although it is generally unnecessary, on account of the small number of
notes taken, the business being principally cash.
INSTRUCTIONS FOR THE STUDENT.
In order the more readily to comprehend these books, it will be well to imagine your
self on board the Steamboat Sultana, acting in the capacity of clerk.
After ruling, according to the forms given, enough paper for the several books, enter in
the Cash-Book the amount of cash advanced by Simonds & Morrison, the owners of the
boat, for its use. Next set down in the Crews' Leger the name of each of the hands, and
the agreement made with him: after which, record in the Freight-Book all the goods
taken on board at Cincinnati. Then enter in the Journal the note given for charges on
Bill Lading No. 1; and in the C.-B. the cash paid on B. L. No. 2, and the cash received
on B. L. No. 3: also enter in the C.-B. the sums paid for groceries, marketing, and
wharfage. Next record in the Passage-Book the passengers from Cincinnati; after which
make the entry, in the C.-B., of cash received for freight on goods landed at Louisville,
and record in the Freight-Book the goods taken on board at that place. Then enter the
following items in the order mentioned, putting them in the Cash, Freight, and Passage
books alternately, as indicated by the nature of the entries, viz.: wharfage and canal
tollage paid at Louisville; passengers from Louisville; Do. from Smithland; wharfage
paid at Cairo; cash received for freight on goods landed at Memphis; goods taken on
board at Do.; passengers from Do.; marketing and wharfage at Do.; passengers from
Vicksburg; cash for freight on goods landed at Natches; passengers from and wharfage at
Do. Now foot up the Passage-Book, and enter on the C.-B. the total amount received
for fare. Next in order comes the amount paid for fuel-marketing at New Orleans —
cash received for freight on the different bills-freight paid Brig Adelaide on goods reshipped-and lastly the wages paid the hands, which are to be entered both in the C.-B
and Crews' Leger.
You may now close up the C.-B. after the manner described under that head, and journalize it; then post the Journal.
Proceed in the same manner with the next trip; and, having completed it. close up the
Leger, and make a Balance Sheet.
Y                      185




1            STEAMBOAT SULTANA'S
Steamboat Sultana's Trip No. 1, from
Shipper.        Embarkation.      Consignee.        Destination. |    Mark.
Joseph S. Smith      Cincinnati     0. A. Ogden         IN. Orleans      1 
cc           c                     (c                te (               cc
<Lc t~      c c      Townsend&Williarnson Memphis          2      ).sscs c                                    s     s    s cc       cc
John Farlan               "        James Morris          N. York         3.
H. Jennings               "        J. Moore & Co.        N. Orleans      4 
Cc                 cc              ~C                 CC: 
cc                                 cc                 cc          ( cc  cc
Anson Avery               "        J. C. Buckles         Louisville      5 
P. Arbuckle & Co.                  Pease & Ca            N. Orleans      6 
Fellows & Co.        Louisville    E. C. Stockton        Natches         7    Lj1
Armour Lake & Co. Memphis          Pervis & Wood        N. Orleans      8 
T'his book is used for recording all goods received on shipment. The headings of the
different columns will show the manner of entry.
It frequently happens that the boat pays previous charges on goods for freight, storage,
&c., or that she pays freight on goods reshipped by her. Sums so paid are entered in the
" Freight and Charges paid" column, at the time of payment.  The amount paid for previous charges, as shown by this column, is added to the boat's charges for freight as shown
186




FREIGHT-BOOK.
Cincinnati to New Orleans, June I st, 1853.
Freight
and  Freight and
Description of Freight.  Weight. Rate. Amount. charges rghn  Remarks.
r, oun. ~charges charges  Remarks.
paid.  received.
200 Bbls. Whiskey                  44    8800 7500           Gave note for charges
500  "   Flour                     30   150 001                on this bill $75
238 00         313 00
700 Bbls. Pork                     44    308 00 2500
300 Firkins Butter                 25    75 00
383 00        408 00
700 Bbls. Flour                    75    525 00              Shipper paid freight
900  "   Pork                    1,00    900 00                to New York.
Shipped on Brig Ade1,425 00 70000 1,42500  laide atN. Orleans,
and p'd her freight,
$700.
10 Bbls. Eggs                      30      3 00
20  "   Apples                     30      600
75  "   Potatoes                   30     2250
31 50          31 50
45 Bbls. Flour                     15      6 75
50 Boxes Cheese             2,500  12      3113
9 88           9 88
40 Boxes Candles            1,600  25      400
35   "   Soap               2,100  25      525
9 25           925
50 Pieces Bagging                  10     5 00
50 Coils Rope                      10     5 00
10 00          10 00
250 Bales Cotton                 1,00   250 00         250 00
800,00
2,456,63
by the "Amount" column, and their sum is extended into the "Freight and Charges
received" column; which gives the total amount to be received. This may be done at
any time when convenient during the trip.
When the trip is posted, the debit side of Freight account in the Leger should agret
with the " Freight and Charges paid" column, and the credit side of the same account
with the " Freight and Charges received" column.
187




2                STEAMBOAT SULTANA'S
Steamboat Sultana's Trip No. 2, from
_  _b
Shipper.       Embarkation.      Consignee.      Destination.  o~  Mark.
6 cd
T. Saunders         N. Orleans    L. & G. Farwell & Co. St. Louis    9    I
cc                cc              cc                     cc   CC
cc                cc                            cc                  cc
0. A. Ogden             cc        Pratt & Co.             c          10 
CC                cc              cc                CC        cc
~cC               cc              cc                cc        c
Pervis & Wood           cc        W. B. Morris & Co. Louisville      11 
J. Newgate & Co.         cc       Samuel Ewing        Memphis        12 I|
~C                cc              cc                cc        cc     C
cc                cc              cc                cc        cc    cc
cc                            I CC  CC              cc        CC    cc
J. Mclntire             cc        Stacker, Wood & Co. St. Louis      13 
cc                cc              cc                c cc      cc 
P. W. Morrison          cc        O. B. Batewell                     14 
cc                cc              cc                cc        cc     c
A. H. Hawley        Vicksburg     A. H. Hawley             c         15 
(on board.)
J. T. Lanphier      Memphis       Joseph Charles & Co.    "          16    (
CC                Cc              cc               cc         cc    cc
188




FREIGHT-BOOK.                                     2
New Orleans to St. Louis, June 13th, 1853.
Frieht  Freight and
Description of Freight.  Weight. Rate. Amount.  a  charges  Remarks.
paid.  received.
40 Boxes Mdse.             9,000  30    2700
36   "c   "               12,600  30    37 80 2500
45 Bbls. Molasses                 30    1350
30 Hhds. Sugar            33,750  25    84138
16268         18768
100 Sacks Salt                   20     2000
150 <"   Coffee                  20     300
25 Hhds. Molasses        25,500  25    6375
11375         11375
40 Hhds. Sugar            44,200  25   11050          66 30 Shipped on steamer
-____010      ~0Boston, at Cairo,' —------  --  -  ~ and transferred B.
30 Boxes Mdse.             9,000  20    1800                 L. to her, she paying our charges,
2 Crates Crockery              1,25     250                 $66,30. charges
5 Bbls. Sundries                 20     100
10 Cases Shoes                    15     150
23 00         23 00
Scotch Pig Iron           60,000  20   12000 4000          Rec'd. Note at 10
400 Blocks French Burr Stone 80,000  20  16000 6500           days for $185.
(Jour. p. 1.)
28000         385 00 Cash for Bal. $200.!       ____________________ —  ---- -----  (C. B. p. 2.)
3 Boxes Pianos            1,500  40     600 1200
15   "  Furniture          3,000  40    1200
1800          3000
10 Boxes Sundries          2,500  25     6 25          625
20 Bbls. Castor Beans             12-    2 50
8 Casks Sundries                 12     1 00
3 50      -     350
142,
815,48
189




STEAMBOAT SULTANA'S
PASSAGE-BOOK.
Trip No. 1, from    Cincinnati to New Orleans.
Date.         Names.             Embarkation.         Destination.     Fare.
1853. 
Junel   Wm. H. Gorin              Cincinnati          New Orleans        15100
"   "  Thos. Cobart                   c             Louisville           3 00
cc"    Nathan Ives                   cc             New Orleans         15 00
c"     Saml. Miller                   c             Vicksburg           12 00
"   "< Norman Bliss                  "              New Orleans         15 00
c c    R. A. Butler                  cc                   c             1500
c c"   S. H. Hartly and lady                   <(                       3000
c      James Benson                  cc                  cc             1500
J. N. Norton
Miss Norton               Louisville         Memphis             24 00
", Bates     )
"cc C  I. Peterson                   cc             New Orleans         15 00
"   3  D. C. Budd                Smithland                "             11100
4   R. Buttles                Memphis                  c              9 00
c"  Miss Stanley                   ((             Natchez             6 00
"   6  B. Burton                 Vicksburg           New Orleans         6 00
"   "  Peter Quinn                                                       6 00
"   J. G. Carlton                                                     6100
"   7  Benj. Black               Natchez                 (               400,," Philip Frazer                                                     400
Amt. from Deck-Passage-Book     38 00
C.-B. page 1.  $249 00
In this book are registered the names of the cabin passengers, with the place of their
embarkation and destination, and the fare.
At or near the end of the trip, the amount from the Deck-Passage-Book is brought into
it, and it is then footed and the total entered in the Cash-Book.
190




PASSAGE BOOK.                                    2
Trip No. 2, from New Orleans to St. Louis.
Date.        Names.           Embarkation.       Destination.   Fare.
553..June'13 J. B. Stackhouse      New Orleans       St. Louis          1200
c   R. D. Dewey                                                31200
"  " Peter Vanderlip                                              1200
"  " Francis Guerlain                          Memphis             800
c     Marcus Snow                 <            Vicksburg           500
C   "C Matthew White                           St. Louis          1200
cc    M. E. Brown                c                                1200
"c <c S. N. Green                                   c1200
"     D. V. Black                 c            Natchez             400
c J. B. Jerome, wife,                      St. Louis          4500
and 2 daughters
c" c( David Cross and lady                 "                      2400
c " c S. B. Beekman              c                  c1200
"(    J. Andrewscc                                               1200
John Armour                                Cairo              1100
"     I " Madame Shawl and       "             St. Louis         1800
servant 
" D. Parks                                "                      1200
"' c Silas Buck                                               1200
Seth Stone, wife,                "                            3500
and sister $
14 John Peacock            Natchez                 c             1000
"  " C. Loffland                                                  1000
" C. B. Bowes         l                          "             10 00
15 A. H. Hawley and lady  Vicksburg              "             1000
" 1" S. Birdseye                 c                                 900
16 S. W. Lewelling       Memphis                               500
I Miss Simpson                                   c              5 00
cc Wm. Roberts                  c                                5 00
9 I" Jas. Raflin                 "                  c              500
c " Dr. McDowell                 c                  c              5 00
" c T. B. Withers                         c                      s5 00
C. B. Payne                                                   5 00
Am't. from Deck-Passage-Book  685 00
C.-B. page 2 $1,039(00
191




STEAMBOAT SULTANA'S
Dr     Cash.
Jour.   _
page~~~~Jour.   ~Freight. Passage Sundries. Amount.
page.
1   To Simonds & Morrison,
for cash advanced Boat  -                     500 00
" Freight, on Bill Lading, No. 3  - -  1,42500
" cc          "    " cc   c   5-.-   9188 
cc   cc   CC cc    cc    cc 2    -     40800
cc    C   cc        cc      77-  -       10 00
"Passage as pr. Passage-Book    - -            249 00
"Freight, on Bill Lading, No. 1 - -    313 00
c"   "     "  "     "    "   4  - -      3150
I' cc, "c "     c "  6- -      925
d l           tc,    c, c     "     8  - -     25000
z
1                Rec'd for Freight this trip 2,45663__ 2,45663
1                  "    " Passage "   "C<          24900    24900
1                 Total cash receipts  _             3,205 63 3,205,63
This book is prepared with sundry columns on both the debit and credit side. When
entries are made in it, the sums are placed in one or other of the columns, according as
the headings indicate. Time is kept by trips, no dates being given.
At the end of a trip the different columns are footed up, and the totals extended into
192




CASH-BOOK. 
Cash. Cr.
Jour.                           Expenses. Wages.  Freight. Sundries
page._                              
By Charges paid on Bill Lading, No. 2    25100
" Groceries  at Cincinnati - - -3000
"Marketing  "   "    - -     2000
" ButterandEggs"  " - - - -  1500
" Wharfage        - - - -    5100
" Wharfage  " Louisville - - -  100
" Canal Tollage  "   -  --  75 00 
" Wharfage  " Cairo -     - - -  100
" Marketing  " Memphis- - -  1000
" Wharfage  "   " -   - -    100
CC"  "      " Natchez - - -  100
Z      " Fuel, as pr. Fuel-Book - - - - 200 00
I.   " Marketing at New Orleans - -  - 00
E-     " Freight paid Brig Adelaide on Bill
Lading No. 3 ---                    700 00
" M. B. Butler  on  - -            5 00
" Benj. Stockton  " "              400
" Peter Lawrence "" —              1 50
" David Lyndes  " "    -           1000
" Samuel Johnson  - - - -         2000
" J. C. Allen  " "   - - -         3!00
" R. E. Patterson  - -  -          1200
" Caleb Woolson    - -   -         500
" Sarah Williams ""- -  -          3 00
" Ralph Brown  "   - - - -         15.00
" Henry Webb  "c c    -            5100
" Nathan Hatch  "" - -   -         300
" James Manning "  - -  -         1000
"c Thos. J. Bates  "" - - -       10 00
1           Paid for Expenses this trip 36500 _  365 00
I1            ((" Waoges  " cc       106 50      10650
1         "( " Freight  "              7" 20 72500
| 1 |Total cash payments                   1,196150
<C Balance on hand carried to Trip 2        2,009 13
3,205o63
the "Sundries" columns, which are also footed, and the closing is made after the manner
shown-the final amount on the debit side, and the balance brought down, being extended into the " Amount" column.
The items in the " Sundries" columns are then journalized.
193




2             STEAMBOAT SULTANA'S
Dr.   Cash.
Jour.
paJge.                                  Freight. Passage. Sundries. Amount.
page.
To Balance from Trip No. 1  - - -                        2,00913
c Freight, on Bill Lading, No. 12 - -  2300
cc   c  c  CC     c  c    I   11 -  6630
"c Passage as pr. Passage-Book  -  -     1,03900
" Freight, on Bill Lading, No. 9  -  18768
cc   cc   cc     cc    cc  10  -  -  11375
cc  Cc   cc cc         cc 13  -    20000
C    cc  cc  cc   cc   cc  14  -  -  3000
cc   cc  CC  cc   cc  c c  15  -     625.!     cc   cc   cc  cc       cc  16  -  -  350
1               Rec'd for Freight this trip  630 48   630 48
1 |"                  " Passage "c "c        1,039!001,03900
I                   Total cash receipts              1,669 48 1,669 48
3,678 61
To Bal. on hand Bro't down  - - -                          2,92697
194




CASH-BOOK.                        2
Cash. Cr.
Jour. 
|pageu.                       Expenses. Wages.  Freight. Sundries.
page.
By Charges on Bill Lading, No. 9 -    25 00
"   "  "  "cc  "  cc 13   -          10500
~cc  c  c  cc  cc  cc 14  -           1200
" Groceries  at New Orleans - - 100 00
c Marketing  "  "  - - -   35 00
" Wharfage  "  " - -    -   500
"c Marketing  " Vicksburg - -  15 00
c Wharfage     " - - - -    1 00
" Marketing  " Memphis - - - 20 00
ci    " Wharfage   "  c -  -  - -1 00
d    " Fuel, pr. Fuel-Book ---- 150 00," D. Lyndes     in full  - -        50 00." S. Johnson                      4000
" J. C. Allen   -  -  -  -      600
" R. E. Patterson " "c - - - -1500
"c C. Woolson  " - - -           700
" Sarah Williams'c  -  -  -  -  420
" Ralph Brown  cc - - - -       2100
"Henry Webb  " " - - - -         580
" N. Hatch   " "- - -            900
" M. B. Butler  "  "  -          5 80
" Benj. Stockton  " "- - -       1100
" Peter Lawrence " " - - - -     450
" James Manning " "- - - -73 34
" Thos. J. Bates  - - - -30 00
1          Paid for Expenses this trip 327 00  11 327 00
1 |" " Wages             cc        28264  _   28264
1           " " Freight " "             14200 142100
1              Total cash payments            751 64; Baiance on hand carried down - -        2,92697.:____                                ____....3,678 61
195




STEAMBOAT SULTANA'S
JOURNAL.
Trip No. 1, from Cincinnati to New Orleans, June 1st, 1853.
-   Freight Dr. To Bills Payable                          7500   75 00
1         for charges on B. Lading, No. 1
1   Cash  Dr. To Sundries                              3,205 63
2         To Simonds & Morrison                                  500 00
1          " Freight                                           2,456 63
1          " Passage                                            249 00
1   Sundries Dr. To Cash                                       1,196 50
2   Expenses                                             365 00
2   Wages                                                106 50
1   Freight                                             72500
Trip 2,from N. O. to St. Louis, Junel3tlh, 1853.
1
-   Bills Receivable  Dr. To Freight                     185 00  185 0(
1          for part pay't B. L. No. 13
1   Cash  Dr. To Sundries                              1,669 48
1         To Freight                                             630 48
1          " Passage                                           1,03900
1   Sundries Dr. To Cash                                         751 64
2   Expenses                                             327 00
2    Wages                                               282 64
1   Freight                                             142 00
The cash items in this book come from the Cash-Book. All other entries are made
here directly from the transactions. Time is kept by trips, and posts made to the Leger
in the same manner.
196




STEAMBOAT SULTANA'S
LEGER.
INDEX.
B.               F.
Bills Payable  -   -  1  Freight  - -  
Bills Receivable  -  -   1
Balance  -  -  -  2    P.
Passage  -  -  -1
C.         Profit & Loss  -  -  -  -  2
Cash...  1       S.
Simonds & Morrison  -  2
E.              W.
Expenses  -  -  2  Wages  -  -  -  2
197




~1                  J    ~LEGER.
Dr.                       Freight.                       Cr.
1853.                            1853. 7                      t
Trip 1 To Bills Pay.  1    75100 Trip 1 By Cash        1 2,456 63
" c    " Cash        1    725100  cc  2 " Bills Rec.  1    18500
"   2 " Do.          1    142 00  c    " Cash         1   630o48
cc  c ( Profit f Loss  2  2,330 111
3,27211                          3,27211
Dr.                     Bills Payable.                    Cr.
1853.                            1853.
Trip 2 To Balance     2    7500 Trip 1 By Freight      1    7500
Dr.                    Bills Receivable.                 Cr.
"1853. —------— | 1853.
Trip 2 To Freight     1    185 00 Tip 2 By Balance     2   185 00
Dr.                         Cash.                        Cr.
1853.                            1853I
Trip 1 To Sundries    13,205 63 Trip 1 By Sundries     1  1,196 50
2 "    Do.        1   1,66948  (  2  (  Do.        1    751164
1l  2 " Balance      2  2,92697
4,875 11                         4,875 11
I=-       -                __
Dr.                       Passage.                       Cr.
1853                         I   1853  1 
Trip| 2 To Profit Loss  2  1,28800 Trip 1 By Cash      1   249100
|i='-                -' c  2 <" Do.       1 1,03900
198




LEGER.                                 2
Dr.                          Wages.                          Cr.
1853.                             1853.I
Trip 1 To Cash         1    106 50 Trip 2 By Profit < Loss  2  38914
c   2 " Do.           1    28264                          ____
Dr.                  Simonds Sf Morrison.                   Cr.
1853.                            1853.
Trip 2 To Balance      2  3,036 97 Trip 1 By Cash         1   500 00
|____  t     2 " Profit & Loss  2  2,536 97
Dr.                         Expenses.                        Cr.
183.                           |   1853.                    I
Trip 1 To Cash         1    36500 Trip 2 By Profit Loss  2    69200
cc  2 " Do.           1    327,00
Dr.                      Profit 4; Loss.                     Cr.
Trip 2 To W   es       2    389 14 Trip 2 By Freight      1  2,33011
"      To "  WExpenses  2  692 00  "  " 1" Passage       1  1,28800
c""      (  6 Sinwnd~s Morrison 2  2,536 97 
3,61811      _                     3,61811
Dr.                         Balance.                         Cr.
i53.  ~.'1  1 3....
Trip 2 To Bills Rec.   1    18500 Trip 2 By Bills Pay.    1     7500
c"  " | " Cash       |1 |2,92697  "   " |" Simonds 4 Morrison 2303697
3,111 97                           3111197
199




STEAMBOAT SULTANA'S
CREW'S LEGER.
This is used for keeping the accounts of the hands. It is a book of original entry, and
in fact entirely independent of any of the other books. Its form is so simple as scarcely
to need any description. The names of the hands are recorded in it similarly to the titles
inthe main Leger, and if needed for convenience, an alphabet may be used for referring to
them.
Under the name of each person, the time when he commenced, and the agreement with
him for wages, &c., is stated. Amounts paid him from time to time are entered to his
debit, and, as often as is desirable, a settlement is made and credit given for wages.
{i  This book is an exemplification of a short and easy mode of SINGLE ENTRY BookKeeping, which may be used to advantage by a farmer, or mechanic, whose accounts are
few and small, in preserving his business relations with his neighbors. See pages 55-57.
It will also be found very convenient for keeping the accounts of the hands in a Irranufacturing business.
200




CREW'S LEGER. 
James Manning,          (capt.)  Dr.      Cr.
1853.         Commenced June 1st, 1853, at $125 pr. mo. 
June 10 To Cash on %                                           1000
c   20  "' Do. in full                                        73 34
"d   " sBy ~ month's Wages                               _             8334
_  83 34  b8;34
Thomas J. Bates,         (Clerk.)  Dr.       Cr.
1853.         Commenced June Ist, 1853, at $60 pr. mo.
June 10 To Cash on                                             10 00'   20  "  Do. in full                                        3000
]C   C              By ~ month's Wages                                 4000
_I                                                        40 00     4000
David Lyndes.           (Pilot.)  Dr.     Cr.
1853.         Commenced June 1st, 1853, at $100 pr. mo.
June 10 To Cash on %                                           10 00
"c  18  "  Do. in full                                        5000
"  c"c            By 3 month's Wages                                  6000
60 00     60 00
Samuel Johnson,         (Engineer.)  Dr.    Cr.
1853          Commenced June 1st, 1853, at $100 pr. mo.
Junej 10 To Cash on ae 20 00
"   18  "  Do. in full                                       40 00
Ce C <              By I month's Wages                   __    _       6000
i____                                               __60 00     60100
Ralph Brown,             (Mate.   Dr.      Cr.
1853.  |      Commenced June 1st, 1853, at $60 pr. mo.   l 
June 10 To Cash on %                                           15 00
"   18  "   Do. in full                                      2100 
CC                  By s month's Wages                   __    _       3600
36100     3600
2 A                        201




2                       CREW'S LEGER.
Belj. Stockton,       (Steward.)  Dr.     Cr.
1853.          Commenced June 1st, 1853, at $25 pr. mo.
June 10 To Cash on c                                             4 00
9"  18  "   Do. in full                                       1100
1500      15 00
R. E. Patterson,      (Carpenter.)  Dr.    Cr.
1853.1         Commenced Jane 1st, 1853, at $45 pr. mo.
June! 10 To Cash on                                             1200
"   18  "   Do. in full                                        1500
"e   "              By - month's Wages                    __            27 00
27 0      27 00
Mlorris B. Butler,    (Dck hand.)  Dr.      Cr.
l853.l         Commenced June 1st, 1853, at $18 pr. mo.
June 10 To Cash on                                               5 0
"   18  "   Do. in full                                        580
"    c( "By 3 month's Wages                                             10 80
10 801 11080
_-_ _01          1J. C..Jtlen, (Deck hand.)  Dr.  Cr.
1853.          Commenced June 1st, 1853, at $15 pr. mo.
June 10 To Cash on                                               3
c   18  "   Do. in full                                        6 00
"c  "              By 3 month's Wages                                   900
Henry Webb,        (Deck hand.)  Dr.     Cr.
1853.         Commenced June 1st, 1853, at $18 pr. mo.
June 10 To Cash on                                                00
i      1 "  Do. in full                                       5i80
C I (c              By   month's Wages                                  1080
202




CREW'S LEGER.                                       3
Nathan Hatch,         (Fireman.)  Dr.     Cr.
1853.  I       Commenced June 1st, 1853, at $20pr. mo.
June 10 To Cash on                                               300
cc  18      Do. in full                                        9001
cc   t     o        By 3 month's Wages                                  12 00
Caleb Woolson,       (Fireman.)  Dr.      Cr.
1s53.          Commenced June Ist, 1853, at $20 pr. mo.
June 10 To Cash on %                                             5 00
cc  18  "   Do. in full                                        7 00
c   "              By. month's Wages                                  12 00
Sarah Williams,     (Chambermaid.)  Dr.     Cr.
1853.          Commenced June Ist, 1853, at $12 pr. mo.
June 10 To Cash on                                               300
"   18  "   Do. in full                                         4 20
c    ((             By 3 month's Wages                                   7 20
Peter Lawrence,      (Cabin boy.)  Dr.     Cr.
1853.         Commenced June 1st, 1853, at $10 pr. mo.
June 10 To Cash on                                                150
"   18  "   Do. in full                                         450
"} ((               By 3 month's Wages                                   6 00
203




STEAMBOAT SULTANA'S BALANCE SHEET.
St. Louis,.2   Face of Leger.  Profit & Loss.  Simonds & Morrison.  Balance.
__ June 20th, 1853.  ~   Dr.  Cr.  Dr.  Cr.  Dr.     Cr.    Dr.    Cr.
Freight...  1        2,33011|.|. 2,330 11                        7 
Bills Pay...    1..     7500...                                    75 00
Bills Rec...  1   18500.......                      185 00 
Cash...    1 2,92697                                     2,926 97
Passage...        1 1,288 00... 1,28800
Wages...    2   38914..     38914
Simonds & Morrison.  2...  500 00500 00
Expenses.        2   692 000.     692 00
4,193 11 4,19311
To Simonds 4 Morrison, for Net proceeds 2,536 97..  2,53697
3,618 11 3,618 11
To Balance, for Am't due them 3,036 97.... 3,036 97
i_                                                                               _,
3,036 97 3,036 97 3.111!971 3.111 97
MANIFEST.
Steamer Sultana's Trip No. 2, from       N. O. to St. Louis, June 17th, 1853.
M|ark.           Articles.               Consignee.          Destination.
tL  |40 Boxes Mdse.              L. & G. Farwell & Co. St. Louis.
36     "     Do.                       cc             "
"t    45 Bbls. Molasses                                   cc
"(    30 Hhds. Sugar                      cc              cc
]   < 100 Sacks Salt             Pratt 6s Co. 
"    150  "    Coffee                 cc
25 Hhds. Mols.                    c                    "
Scotch Pig Iron              Stacker, Wood & Co.      ";"   400 Blocks French Burr Stone                         c
Y    |3 Boxes Pianos             0. B. Batewell 
c"    15   "   Furniture               cc
| \    10,"    Sundries         A.H.Hawley(onboard)       "
q     20 Bbls. Castor Beans.     Jos. Charles & Co.       "'      8 Casks Sundries                 c                 cc
J CD)   40 Hhds. Sugar             W. B. Morris & Co.   Louisville.
[I1)   30 Boxes Mdse.            Samuel Ewing          Memphis.
"      2 Crates Crockery              c"                  cc
|"     5 Bbls. Sundries                 c                 (( 
"     10 Cases Shoes                             cc       c
THiOS. J. BATES, Clerk.
A manifest, as will be readily seen by the above illustration, is an exhibit of a vessel's
Cargo; to which is frequently added a list of the passengers on board.
It is made out by the Clerk, and suspended in a prominent part of the vessel, so that any
person interested may readily ascertain what goods are on board, and to whom they are
consigned.                             204




STEAMBOAT REPORT.
-teamer Sultana's Trip No. 1,from      Cin'i to N. Orleans, June 10th, 1853.
Receipts.
Cash for Freight, as pr. Freight-Book                       -     2,45663
"   " Fare of 22 Cabin passengers   -    -    -       -            211 00,"  "   "   " 15 Deck     Do.    -                                  38 00
Expenditures.                              2,70563
Charges on B. L. No. 1, paid by Note to J. S. Smith  -   75,00
"    c   "'"   2, "   in Cash ",c            -   25,00
Freight "   ",c 3,    "    (" (" Brig Adelaide -    700,00
Marketing, Tollage, and Wharfage  -   ---               165,00
Fuel, as pr. Fuel-Book,  -    -    -     -    -    -    200,00
Am't paid Hands -     -       -    -    -       --      106,50
due    Do.           -    -    --             -     102,83    1,374 33
Net proceeds           $1,331 30
To Messrs. Simonds & Morrison.                            T. J. BATES, Clerk.
BILL OF LADING.
SHIPPED, by T. Saunders, on board Steamboat Sultana, whereof James Manning
is master, now in the port of JV'. Orleans, and bound for St. Louis,
viz.: 76 Boxes Merchandise, 45 Bbls. Molasses, and 30 Hhds.
Sugar, being in good order and well conditioned, marked and
]  40 Boxes.       numbered as in the margin, and to be delivered in like good
)M 36   "         order and condition (dangers of the river excepted), unto L. 8f G.' 45 Bbls.        Farwell fy Co., or to their assigns, he or they paying freight
"c 30 Hhds.       on the said Merchandise. IN WITNESS WHEREOF, the Master of
ToL. T  G. Farwell 8 11., said Steamboat hath affirmed to three Bills of Lading, all of this
S01 t. Louis.  tenor and date; one of which being accomplished, the others to
stand void.
Dated in N. Orleans, the 13th day of June, 1853.
JAMES MANNING.
This is an instrument used as cognisance of Merchandise or other property having been
shipped for transportation. It is customary to have three of the same tenor and date.
One is retained by the master of the vessel on which the goods are shipped, another is
kept by the shipper, and the third is forwarded to the consignee. These instruments
are printed blanks. In the above, the words in italics are the filling up of a shipment.
BILL FOR FREIGHT.
Messrs. L. & G. Farwell & Co.,
To Steamer Sultana, Dr.
For Freight on 76 Boxes Mdse. 21,600 lbs. @ 30 c.                          64780
"     "    " 45 Bbls. Molasses         @ 30 c..13,50
CC    <    (" 30 Hhds. Sugar, 33,750 lbs. @ 25 c..                      84,38
St. iouis, June 18th, 1853.                                             $162,68
Rec'd. payment,
THos. J. BATES. Clerk.
205




FORMS OF NOTES, DRAFTS, RECEIPTS, &c.
PROMISSORY NOTES.
$225 -.                                                    Cincinnati, JNovember 5th, 1852.
On demand, I promise to pay A. Farnum, or bearer, two hundred and twenty-five -.
dollars, with interest. Value received.                                     PETER LAMBERT
PETER LAMBERT.
No. 16.
$1,200.                                                  JV'ew  Orleans, NJovember 2d, 1852.
Sixty days from date, we promise to pay Blank & Boynton, at the City Bank, one
thousand two hundred dollars, value received.                         J. C. SMITH         & C
N  O. 80.J. C. SMITHSON & Co.
No. 80.
No. 1, 125.                                              Philadelphia, January 1st, 1853.
Eight months after date, we severally and jointly promise to pay to the order of J.
Durant    six hundred and seventy-five and         50o  dollars, without defalcation, for value
received.
v675 50                                                                 NATHAN PETERSON.
$6T1050                                                                 J. W. MORRIS.
PRODUCE NOTE.
$500.                                                     Philadelphia, January 15th, 1853.
Four months from date, I promise to pay to Charles Johnson, or order, five hundred
dollars, in Flour, at the market value when due, for value received.
JOHN TAYLOR.
REMARKS. 1st. If interest be not mentioned in a note, it is now generally conceded that it cannot be collected
thereon. But if the time when the bill falls due pass without its being paid, Int. is recoverable from that date, and
sometimes even damages.
2d. Custom allows three days grace on all notes; but Int. or discount is reckoned for these three days, the same
as for any other time.
3d. Notes drawn," On demand" are not legally due until a formal demand, in presence of witnesses, has been
made. To avoid this inconvenience, it is better to write them payable " One day after date."
4th. Notes made payable at a particular place must be demanded, or held in readiness, there, when due, before
the maker can be held responsible at any other place. For example, a note payable at a particular bank must be
deposited in said bank for collection.
5th. Some states require the words, Without defalcation" to be inserted in all bills to render them negotiable;
others, Without defalcation or discount;" others, only the words "t Or bearer," "Or order," or, To the order of."
DUE BILL.
$413s
Due, on demand, to Messrs. Laflin & Stephens, four hundred and thirteen 12 dollars,
with interest.                                                                  JOHN LCAS.
JOHN LUCAS.
Memphis, July 5th, 1853.
PRODUCE DUE BILL.
Due, Cincinnati, January 4th, 1853, to S. P. Long, or order, thirty-five dollars, in
goods from   our store, value received.                                 BOLE       BENEDICT.
$35.
NOTE.-Due bills draw no interest unless specified.
206




DRAFTS.
$5,000.                                              St. Louis, June 20th, 1853.
At thirty days' sight, pay to the order of F. H. Cossitt five thousand dollars, without
defalcation or discount, value received, (payable at maturity in Missouri Bank funds,) and
charge to account of
To Win. kin, )                                                  WM. ROGERS.
Boonville, Mo. 5
$2,000.                                              M[emphis, Sept. 12th, 1853.
Sixty days from date, pay to Messrs. Parker & Co., at the City Bank, two thousand
dollars, value received, and place the same to account of Messrs. Pervis & Wood, as per
udvice..udvice.~~.JOHN S. MARTIN & CO.
To Mlessrs. Brander $' Williams,                                 MA   N & 
New Orleans.              S
REMARKS. 1st. When a draft is accepted, it becomes a promissory note, and can afterwards, with
safety, be passed from hand to hand. For mode of acceptance see Vocabulary.
2d. Drafts drawn payable at a certain bank, must be deposited in said bank for collection. See remark
4th, under forms of notes.
3d. Drafts drawn "At sight" are usually paid at the time they are presented. All other drafts have
three days grace allowed on them.
BILL OF EXCHANGE.
Exch. $3,000.                                    JVew Orleans, JVov. 14th, 1853.
At ten days' sight, pay to the order of Messrs. Blank & Boynton, in Philadelphia, three
thousand dollars, value received, and place the same to our account, with or without
further advice.
fu~~rtherp~~ advice. 7F. & R. E. TITUS.
To Mr. J. Conly, 
Philadelphia. i
SET OF EXCHANGE.
Exch. ~900 Sterling.                              Philadelphia, March 5th, 1853.
Sixty days after sight of this, our first of exchange, (second and third of the same tenor
and date unpaid,) pay to the order of Lovering & Bache, in London, nine hundred pounds
sterling, for value received, as per advice, for the account of
CLARK 85 Co.
To Messrs. Barings S Co., London.
Exch. ~900 Sterling.                              Philadelphia, MJarch 5th, 1853.
Sixty days after sight of this, our second of exchange, (first and third of the same tenor
and date unpaid,) pay to the order of Lovering & Bache, in London, nine hundred pounds
sterling, for value received, as per advice, for the account of
To Messrs. Barings S; Co., London.
Exch. ~900 Sterling.                              Philadelphia, MJarch 5th, 1853
Sixty days after sight of this, our third of exchange, (first and second of the same tenor
and date unpaid,) pay to the order of Lovering & Bache, in London, nine hundred pounds
sterling, for value received, as per advice, for the account of
CLARn  & Co.
To Messrs. Barings t' Co., London.
207




BILLS AND SETS OF EXCHANGE.
REMAnrS. 1st. A bill of exchange has nearly the same phraseology as a draft. But the former name is generally applied to a bill drawn payable in a foreign country or state, while the latter is restricted chiefly to a bill payable in some part of the country in which it is drawn. The remarks on drafts apply also to bills of exchange.
2d. Set of exchange is a term applied to several bills of exchange, each drawn payable provided the others remain
unpaid; so that whichever is first presented is paid, and the others are then void. The date of each is the same,
and the phraseology also, with this exception-" First of exchange (second and third of the same tenor and date
unpaid)" —  Second of exchange (first and third of the same tenor and date unpaid)," &c. Each bill of the set is
sent by a different conveyance, as security against loss or inconvenience by miscarriage.
3d. Most foreign bills are now drawn through bankers, or brokers, and a, Set of exchange" is commonly spoken
of as a, Bill of exchange," without regard to the distinction between a single bill and a set.
4th. When a bill of exchange is protested for non-acceptance or non-payment, and returned, the holder can recover
the amount of the bill, and damages, consisting, besides interest, of the exchange or re-exchange, commission,
postage, and expenses of protest, and interest on those expenses," from either the drawer or endorser, or if accepted,
the acceptor. Several of the states have special enactments upon the subject, allowing a certain per-centage in addition to, or in lieu of, these damages.
5th. When an acceptance is partial, as to pay a part instead of the whole bill, or qualified, as to pay provided
some future event occurs, notice of such partial or qualified acceptance should be given by the holder to the other
parties to the bill, if he mean to resort to them in case of non-payment.
6th. A bill is sometimes drawn at usance, which means the usual time for payment allowed by the custom or law of
the place where it is payable. The usance of Amsterdam, Rotterdam, Antwerp, Hamburg and Bremen, is 1 mo. after
date; of Madrid and Gibraltar, 2 mos. after sight; of Leghorn, Genoa, Venice, and Naples, 3 mos. after date; of
London, 60 days after sight; of Paris, Bordeaux, Malta, and Rio Janeiro, 30 days after date; of Dublin, 21 days
after sight; of Dantzic, 14 days after date; of Leipsic, 14 days after acceptance.
7th. In most foreign countries, as in the United States, days of grace beyond the time when a bill becomes due are
allowed for its payment. The days of grace in Great Britain are 3, except on bills drawn payable at sight, which
must be paid as soon as presented. In Geneva they are 5; in Lisbon, Amsterdam, Antwerp, Rotterdam, Cadiz,
Venice, Oporto, and Rio Janeiro, 6; in Bremen 8; in Dantzic, Paris, and Bordeaux, 10; in Altona and Hamburg,
12; in Malta, 13; in Madrid, Gibraltar, Barcelona, and Bilboa, 14; in Genoa, 30.
ORDERS.
Mr. James Park will please pay to S. Ely, or bearer, eighty dollars, in merchandise,
on our account.                                                             WM. HUGHES & CO.
7Memphis, May 22d, 1852.
XJew   Orleans, JNovember 23d, 1852.
Messrs. BLANK & BOYNTON:
Gentlemen-Please pay Messrs. Rogers & Co., or order, the fifty dollars due me for
repairs of your store, and oblige
Yours, &c.,                            S. BRIDGES.
RECEIPTS.
Received of Mr. J. S. Brown, three hundred dollars, in part of his account. Philadelphia, January 18th, 1853.                                                    J. M. REYNOLDS.
$300.
Received, St. Louis, December 4, 1852, of Messrs. Sifert & Philips, seventy-five dol
tars, in full for all demands.                                                     R. M. GIBBs.
$75
Received from Mr. A. C. Keyes, two hundred dollars, which is endorsed on his Note
of June 5th, 1852.                                                                A. G. MARTIN.
$200.
Cincinnati, January 1st, 1853.
208




If2dJ B      209cgW
an Cnoae^ ~elcdf,Zo~a~ t ecmancc ewnaE,
2B            209




PRACTICAL FORMS.
PRELIMINARY REMARKS.
IN the former part of this work, the nature of transactions; the philosophy, object, and
utility of the various accounts; the manner of treating diversified operations, both simple
and complex, which arise among every class of the trading community; in short, all those
general principles, which are the foundation of the science of Book-keeping, have been
fully discussed and elucidated.
A variety of Forms for practical purposes will now be given, which, while they will so
abbreviate the operations as to lessen materially the amount of labor requisite, will not in
the least depart from the fundamental principles of the science, but will rather require a
previous knowledge of them, in order to be understood and appreciated. These Forms
will be found adapted to almost every variety of business,* from the most simple to the
most complicated; requiring only such slight alterations as the taste of the Book-keeper or
the circumstances of the case may suggest.
Much might be said of the utility and real practical adaptedness of the following Forms;
but, it is believed, they will commend themselves to all who will give them a careful
examination.
The Legers to the Forms following are omitted, thinking it unnecessary to occupy
room with them. Any new features in them are explained. But, lest there should be
any difficulty in fully comprehending them, from the explanations, I have caused the
Legers to Forms 3, 4, and 6, to be inserted in the Key, which those who find it necessary can procure.
Several of the minor auxiliary books, necessary for each of the Forms, are also
omitted.
* It may be well to suggest that the Form of books appropriate to Shipping business is shown in Set VI. The Form foyr.teaboat
books has also been given.
210




PRACTICAL FORM,
No. 1.
Tilis Form is intended for professional gentlemen, mechanics, teachers, and others, whose
accounts are limited. It will be found to embrace all the essential features and advantages
of Double Entry, with little, if any, more writing than is required in Single Entry books.
To make this clear to all, by comparison of the two systems, the same entries are used in
illustrating this Form as were given in Set I, Single Entry.
The only books necessary in Form 1 are a Day-Book and Leger, the latter of which is
here omitted.
The Day-Book is the first book of entry for all transactions, the left hand page being
occupied with the date, the record of transactions which occur, and columns for Leger
folios; and the right hand page being divided into six columns for dollars and cents. Two
of these columns (one debit and one credit) are for Cash, two for Shop, and two for Sun.
dries.  Into the Cash debit column are extended all receipts of Cash;* into the credit, all
payments out of the same:-into the Shop debit column, all outgoes and expenditures
which may be properly considered as incurred for that account; into the credit, all proceeds resulting from the same:-and into the Sundries columns, debits and credits to
accounts of persons, or to any other accounts, except Cash and Shop. The right and left
hand pages of the blank book used constitute, together, one page or folio in the Day-Book.
No Cash-Book is required; and whenever it is wished to balance the Cash account, the
debits and credits are added up, and opposite their totals, the amount in bank and in safe,
being the balance on hand, is entered in red ink, which, if the account be correct, will
agree with the difference between the debit and credit footings. In each subsequent
balance of Cash, the last preceding footings of the columns are included in the additions
made; thus the gross amount of Cash received and paid out is carried forward, until such
time as it is desirable to post it.
At the bottom of each folio, the several columns are footed up, and the amounts taken
forward to the folio following.
Those items extended into the Sundries columns are posted from day to day, at convenience, to the debit and credit of their proper accounts; but items extended into the columns
appropriated to Cash and Shop accounts are not posted until the close of the week, month,
or three months, according to the taste and convenience of the accountant. It is well to
check the items so omitted in posting, to avoid errors. When the periodical time selected
arrives, the gross amounts are posted to the Cash and Shop accounts respectively, as indicated by the headings of the different columns. The final footing of each column shows
the amount to be posted in each case, except the debit side of Cash: from which the
Balance on hand, if any, at former posting, must be deducted, to give the proper debit
post to this account.  The balance of Cash on hand, which is placed in the Cash debit
column on commencing again, must also be placed in the Sundries credit column to produce the equilibrium.
The " Proof" is obtained by adding all the debit and all the credit footings together, to
see if they are equal.
NOTE.-In a printed book of this Form it is somewhat difficult to trace the figures on the right-hand page; but in a blank book for
the counting-house, this difficulty is obviated by the faint ruled lines on which to write.
N. B. The columns headed " Shop," may have any other heading, such as " Profissional Services," "Institute," Daguerreotyping," &c., to suit the business; and additional
columns may be introduced for any account having sufficiently numerous entries to make it
desirable.
* Because, when Cash is received, it costs value, and is debtor.
j,   Please mark particularly the application of the general rule for journalizing in all the entries made in each different Form.
This is the grand test of correctness in making debits and credits, and, if violated, it is a certain sign of error.
211




DAY-BOOK, FORM 1.
Philadelphia, September 1st, 1852.
L. F.
Date.                               Description.                           Dr   Cr
1852.
qep. 1    Sundries  To Stock,                        For Effects invested         1
Cash,                                      On hand 
Shop,                                      Stock of Tools, pr. Inventory 
Shop      To Cash,
Paid for Paints, Oils, Glass, Brushes, &c., pr. Adams' Bill
<   Bailey T. Stokes  To Shop,                  Lettering Tin Sign  1.75  2 
1 Light Stained Glass                                 5.00
2    Shop   To Cash,                                                     V/ 
2 Books Gold Leaf, 75$, making Step Ladder, $5.00
c"  c; Mayland, Morris & Co.    To Shop,           Bronzing Candelabra      3 
cc  cc Shop    To Cash,                             Muslin                  V/
3      Thomas Templeton    To Shop,               Bronzing Valve.50  3 
6 lbs. Blue Paint, @ 25a                              1.50
18" White "   " 122                                   2.25
"   c c  Cash  To Shop,                                                     /
Glazing 27 Lights for S. Lambert, 10 by 12, @ 25V
i    4  Camden & Amboy R.-R. Co.      To Shop,                              3 
Lettering Sign, 60 feet, @ 20$ pr. foot              12.00
Gilding Border of Sign                                2.00
Putting up Sign                                       2.50
c   "   Shop   To Geo. L. Searles,                 4 days' labor, @ $1.50   V   4
Geo. L. Searles     To Cash,                  On %                     4   V
Shop      To Cash,                            Paid Wages, pr. Time-Book  / 
In Bank, $345.00, in Safe, $41.31=Bal. on hand, $386.31
6      Camden & Amboy R.-R. Co.      To Shop,                              3   V
Lettering Sign, 15 feet, @ 20$                        3.00
Making Board and putting up                           4.25
c (    Shop   To Henry Talbott,                                             /  4
Making Sign for Camden & Amboy R.-R. Co.
"  Cash   To Shop                                                      V/
Rec'd of John Payson, for painting Sign, pr. agreement
7    Cash   To Bailey T. Stokes,                In full of %             V   2
8   Shop  To Jonathan Long & Co.,              Paints, Oils, &c., pr. Bill  /  4
i  "  Jonathan Long & Co.   To Cash,             In part of above Bill    4   V
c "    Shop   To Wm. G. Bradbury,                 Bill of Paints, Glass, &c.  /  5
"  9   Thomas Templeton    To Shop,               Glazing 1 Light, 11 by 18  3  /
"   11 Jonathan Long & Co.     To Sundries,                                 4
To Cash,             Paid on %                                       /
To Shop,            Glazing 10 Lights, 10 by 18, ( 25$              V
Cs  "   Shop   To Geo. L. Searles,                 52 days' labor, @ $1.50   /  4
Geo. L. Searles   To Cash,                  On %                     4   v/
Shop      To Cash,                            Smith, Wages in full     V/   /
In Bank, $364.93, in Safe, $10.00=Bal. on hand, $374.93
13 Philadelphia Exchange    To Shop,                                    5   s/
Glazing 4 Lights, 10 by 16, ~ 25                      1.00
Painting 3 Rooms, 2 Coats, pr. agreement,            15.00
Amounts forward
*~                                                                f~Ii~212'                                    212




DAY-BOOK FORM 1.
Dr.      Cash.     Cr. Dr.       Shop.     Cr.  Dr.     Sundries.    Cr.
575 00
75100
105 32
105 32
6 75
6 75'
5175
5 75
2 00         2 00
37          37
4225
425
6 75
675
16-50
16 50
6 00                                 6 )0
3 00                                 300
_____    _6 00           6 00
506 75      120 44
725
725
300
3O0
30 00
30 00
6 75                                                         6 75
5264                                 52 64
2500                                 2500
140 00                               140 00
37           37
1250
1000
2 50
8 25 _ _                             8 25
9 00                                 9 00
_413        413
543 50      168 57
1600
______ ____________________1600___
543 50     168 57      406 46       92 37       102 62       791 64
Bal.         8374 93               Proof          1,05 258    1,05258
213




2                       DAY-BOOK, FORM 1.
Philadelphia, September        15th, 1852.
Date.                                Description.                            D.    r.
Dr. Cdi
1852.
Amounts Bro't forward
Sep. 15 J. Long & Co.      To Camden & Amboy R.-R. Co.,                         4   3
L:<.A My order on C. & A. R.-R. Co., favor of J. Long & Co.
17  Cash   To Shop,                              37 lbs. Blue Paint, @ 25$  /V 
e 18   Shop    To Geo. L. Searles,                  32 days' labor, @ $1.50  V   4
Geo. L. Searles.     To Cash,                   In full (discharged)     4   V
"    "   Cash  To Shop, 
cc               2 Lights, 10 by 20, Stained Glass, @ $4.50
Shop      To Cash,                              Smith, Wages in full     V 
1   1
2   2
In Bank, $374.43, in Safe, $5.25
1852.
Sep. 20   Balance Cash on hand, from Sept. 18th,
",c     Cash   To Shop, 
Sold to T. Stone 120 lbs. White Paint, @ 11 
c "    Shop   To Cash,                              Repairs of Shop/              /
Making Transparency Frame
"   22  Sargeant & Willis   To Shop                                            5 
Stained Glass Transparency, Frame, and putting up, as agreed
24    Cash   To Shop,/ 
Rec'd of J. F. Godwin, for Stained Glass, pr. agreement
"  "Harry Biddle, for painting Church,  "
25     Bailey T. Stokes   To Shop,                  Glazing New Sash at Manu-  2  V
factory, as pr. agreement, to wit:
56 Lights, 11 by 15, @ 9/                             5.04
139 "    10 " 12, " 7                                9.73
1920 "   8 " 10, "3                                  57.60
20   "   Old Glazing, 11 by 17, @ 35                 7.00
Painting 110 Window Frames, @, 45$                   49.50
"   Reception Room                                 5.25
i,   Shop    To Cash,                             Paid Wages, pr. Time-Book  / V /
In Bank, $541,75, in Safe, $54.00=Bal. on hand, $595.75
"   27  Personal Expenses    To Thomas Templeton,                             2    3
1 Blk. Cloth Dress Coat                               15.00
1 Pr. Blk. Cass. Pants                                 6.00
C"   "  Shop    To Cash, 
Paid P. Lee for Sundry Jobs Carpentering, as pr. Bill
cc  28             " for 10 Gals. Linseed Oil, @ $1.622
IC  29   Cash   To Shop,                             Rec'd for Tin Sign       V/
"    c ((  Shop  To Cash,                            Tin and Japanning        V 
(c  30  Sargeant & Willis   To Shop,                 Painting Office, as agreed  5  V
"c "    Shop    To Cash,                                                       /   /
Paid II. Smith Wages in full
" Rent of Shop, one month, to date
Cash debits, $637.88, less former Bal., $379.68=$258.20 Cash Receipts  2  2
In Bank, $521.43, inSafe, $18.65
1852.
Oct. 1    Balance Cash on hand, from Sept. 30th
214




DAY-BOOK, FORM 1.                                    2
Dr       Cash.      Cr. Dr.      Shop.      Cr.  Dr.     Sundries.    Cr.
54315 0
54350       16857       40646         9237       10262        791 64
1514
1514
9 25                                 9 25
5 25                                  5 25
7 50                                 7 50
9 00
900
6 00        6 00
561175      18207       41.771       11062       125 26       81i 03
379,68                                                        37968
13'20
13 20
212         2112
438         438
4000
4000
25 00                               25 00
21000                              21000
134X12
13412
2563         25 63
627 88      33213
2100
21 00
2250
2250
1625        1625
1000                                1000
4 25        4 25
30 00        30 00
6 00        6 00
16 67       1667
9780         9780       46232        22512       40068
i Bal. |5 64008                    Proof        _   96 0180      9 6 0 80
540 08j                                                       540 08
215




BALANCE SHEET, LEGER, FORM 1.
Philadelphia,        Face of Leger.  Profit & Loss.    Stock.         Balance.
September 30th, 1852.  |O  Dr.         r Cr.  Dr.  Cr  Dr.    Cr     Dr.     Cr.
_   ~ ~o~,  _2. _         ll, I _
Stock.....  1..     57500...                575100
Cash.          1    540108.....4008
Shop                 2             57 43..    19793..            14050
Personal Expenses..  2  21 00. 4.       2100
Bailey T. Stokes... 2  13412..         ~   I ~     I I ~         134.12
Mayland, Morris & Co..  3  2|00.........        200
Thomas Templeton.. 3..       1638.......                    16138
Camden & Amboy R.-R. Co. 3  861.1.....      1     861
Henry Talbot...  4..     3100...                                     3 00
Wm. G. Bradbury..  5..140 00.....140 00
| Philadelphia Exchange.  5  16 00                                          16 00
Sargeant & Willis..  5  70 O1                                        70.00........  7 
791 81|   79181 
To Stock, for NJet Gain  17... I  176 93
_19793    197 93
Jet Capital  751 93 
751 93  751 93       _
Total Resources and Liabilities  911 31  159 38
I'~Inventory.~ IJet Capital, as pr. Stock..     751 93
ll  Islt^~~~~~~e.n>1toryt/~~~.   l                 911j31|  911-|Stock of tools  75.00                                                               11
c  " paints   65.50
This Balance Sheet is given that it may be compared with Statements to Set I, Single Entry, page 24.
$140.50
I~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~. —--------,_  ~ 




PRACTICAL FORM,
No. 2.
This Form is intended for a retail merchandising business, in which the purchases are
made periodically, or in large amounts. It is so arranged as to post to the credit of MIerchandise monthly, and thereby save much labor. The books of original entry are a DayBook, Cash-Book, and Petty-Cash-Book. Posts are made from the Day-Book only.
DIRECTIONS FOR WRITING UP.
Prepare the necessary blank books, by ruling, heading, &c., after the formulas given.
Enter in your Day-Book the effects invested on 1st inst., as shown in the Day-Book
given; also, in your Cash-Book, on the debit side, the Cash entry of 1st inst.
Next enter, on the debit side of the Cash-Book, the receipt of Cash for Bills Receivable
on the 7th inst.; then, on the credit side, the payments of Cash for Expenses and Merchandise on the 8th.
Follow with the entries of 9th inst., in both Day-Book and Cash-Book, then of 11th, and
so on, in order of date, until the 16th inst.
Now transfer all the entries from your Cash-Book to your Day-Book, as follows:-Say in
Day-Book "Cash To Sundries" —seek the first debit to Cash (after the amount invested),
and place it down underneath, with the date, to the account of Bills Receivable, checking
opposite the amount in the Cash-Book, to show it is entered in the Day-Book;-examine
to see if there be any other receipts from the same source, and, if so, place them down also,
with the date, checking, as before, in.the Cash-Book;-after finding all that comes under
the head of Bills Receivable, take the next account in order in the Cash-Book, and so on,
till all the debits are transferred. Write up the credits in the same manner, heading them,
" Sundries To Cash."
After this, continue the Cash-Book and Day-Book connectedly, until the end of the
month.
For convenience, all the postings may be omitted until the end of the month, although it
will be seen that the arrangement is such, that, in actual business, the accounts of persons
might be posted from day to day, so as to be always ready for settlement.
DAY-BOOK.
All transactions are entered in this book as they occur, except receipts and payments of
Cash, which are first entered in the Cash-Book, and then brought into this once a month,
or oftener. This book has an extra credit column, into which all the credits (sales) of
Merchandise are extended. This column is footed, and the amount carried forward from
folio to folio, until the close of the month, when the sum total is posted to the credit of
Merchandise. The items entered in the other two columns are posted from day to day, as
convenient.
By examining the formula given, the manner of entry and extension in the different
columns will be readily comprehended. It will also be seen that the two credit column:;
are, together, equal to the debit; thus at the close of the month, when all are posted, \we
have carried out strictly the principle, that "In amount every debit must have a credit,"
with very little more writing than Single Entry books would have required for the samni
business, and with much more satisfactory results.
In order to have a proof of each page, an amount equal to the footing of the Merchai?lise column must also be carried forward into the Sundries debit column.
2 C                        217




~1 CASH-BOOK, FOR3M 2.
Dr.                                 Cash.
Date.                                                        Mdse.    Sundries.
1852.
Oct. 1   To Stock,               Amount invested                         910 50
cc  7      Bills Receivable,    Rec'd for D. Mann's Note, No. 3         525 00s/
c   11  " Merchandise,          Sales pr. P.-C.-B.             25 37
cc  12  c       Do.               " "c   "                    12344
CC  13  "       Do.               " "     "                    62 31
"   14  " Bills Receivable,     John Allen's Note, No. 2                125 50 v
cc  cc  " Merchandise,          Sales pr. P.-C.-B.             10 15
cc  15  "       Do.                  "    "                     2 16
it  16  "       Do.               i  "    "                   21742
D.-B., folio 1,     440 85   440 85v
1852. 2_____                                                 ____      2,001 85
Oct. 18 To Balance from Old %                                            56609
cc   c  CW Wm. Bates,           In full of %                             30 50v/
c    "  " Bills Receivable,     Slade & Co.'s Note, No. 4, due
Jan. 18th /53, less Dis., pr. Contra                        51 60V
sc'C Merchandise,         Sales pr. P.-C.-B.             76 50
c   19  "       Do.               "  "    "                   11000
20     "(      Do.               " "     "                    31 00
c   21  "       Do.              i"  "   "                     60 78
"   22  "       Do.               "  "    "                    26 10
(   23  "       Do.                      "c                   356 05
"   25  "       Do.               ",     "                    91 10
" 26   "      Do.               "  "   "                     4613
"  27  " Bills Receivable,     J. Bailey's Note, No. 6, due Apr.
12th, less Dis., pr. Contra                                100o 00
cc "Merchandise,              Sales pr. P.-C.-B.             77 77
28     "Isaac Norris,          On %                                     1000V
a (c   LMerchandise,           Sales pr. P.-C.-B.             81 29
"   29  i Interest,             Dis. on Note, No. 1, pr. Contra           8 76v/
". "Merchandise,               Sales pr. P.-C.-B.            106 10
"   30  "       Do., "                   251 66
D.-B., folio 3,   1,31448  1,314 48v
2,081 43
Nov.| 1  To Balance from Oct. 30th 152.                                  965I96
The above Cash-Book is believed to be the most convenient form for a business like that
to which it is intended to apply.
The additional columns introduced are merely as a matter of convenience, to facilitate in
transferring the entries into the Day-Book.
The Merchandise column, on the debit side, is for all sales effected for Cash, and receives
an entry at the close of each day from the Petty-Cash-Book. At the end of the month, or
whenever you choose to transfer your Cash entries to the Day-Book, this column is added
ap, and the amount extended into the Sundries column. All receipts of Cash during the
month, except for sales made, are entered at the time in the Sundries column, so that,
whenever the sales are extended into it, the footing shows the total Cash debits.
The Expenses column, on th ~ credit side, is the recipient of sums paid for expenses from
218




CASH-BOOK, FORM 2. 
Cash.                                  Cr.
D~ate.                                                      EExpenses.  Sundries.
1S52.
Oct. 8   Ry Expenses,              Travelling Fare, Board at Boston,
and other Incidental Expenses, as pr. Memorandum    31 25
" c  ( I   Merchandise,          Paid Freight                              12 50S/
9   "     Do.                Purchases, pr. Invoices                1,353 26V/
"   11   " Expenses,             Blank Books, pr. Bill           11 75
"<  12   "<    Do.                1 Ton Coal                      450
16    " Barber T. Lee,         On                                         6 00v
" c  " Expenses,             Wages of Clerks                 16 50
D.-B., folio 2,      64 00     64 00G
"    "C (' Bal. on hand to JNew %                                         56609
1852. --                                                           _     2,001 85
Oct. 18 By Interest,               Dis. on Note No. 4, pr. Contra               77/
c    cc  (( Barber T. Lee,       On %                                       2 00/
"c  22   " Expenses,              Paid for Store Fixtures        1300
"c  cc   " c   Do.                 " Bill of Stoves              22 50
"  23   "     Do.                 " Wages                        875
"   25   ((    Do.                 " Porterage                    1 13
C   27   " Merchandise,          Bo't of Philip Trent, Agent of
Abbott Lawrence, Boston, pr. Invoice                         510 28v/
"'C   Interest,            Dis. on Note No. 6, pr. Contra              1 77V
"   29   " Bills Payable,        Note No. 1, favor of Draper &
Warren, Boston, due April 9th, having been sent, by my
request, to the Quincy Bank for collection, I have paid the
same, less Dis., pr. Contra, Am't                            520 40V/
(   30   " Expenses,             Paid Wages                       9 12
Do.                  " Rent of Store, 1 mo.        15 00
"    "   c" Barber T. Lee,         " Infull                     _          10 75V
D.-B., folio 3,      69 50     69 50V
c;" (" Bal. on hand, to Nov. 1st /52                                     9   96
2,081143
time to time.  Prior to entering in the Day-Book, it is added up, and the amount extended
into the Sundries column, which then contains all Cash credits.
In transferring either debits or credits from the Cash-Book to the Day-Book, only those
items which are embraced in the Sundries column are taken; thus the credit to Merchandise, and debit to Expenses are in sums total in the Day-Book.
When Bills Receivable are paid befbre due, as in the entry of 18th inst., the whole face
of the note is first entered, as if money was really received to that amount; and then on
the opposite side Interest is debited for the amount of discount on the note; this gives the
right credit to Bills Receivable.
The same remarks apply to Bills Payable, when paid before due.
As it would not be convenient in this arrangement of Cash-Book to make a formal balance
of it nightly, this is done in the Petty-Cash-Book.
219




PETTY-CASH-BOOK, FORM 2.
North.dams,      Mass., October 11th, 1852.
L. W. Sewing Silk 6/, Thread 4/                  2 10
B. T. L. 8 Yds. Fig'd Lawn,   @ 30/               2 40
S. A. J. 1 Pr. Kid Gloves                        1'37
L W. Tapes & Ribbons                              15
B. T. L. 25 Yds. Eng. ThreadLace,, 28/  7.00
10 " Lisle Edging         " 30    3.00
1       " Bobbin Lace.15
12 " Emb'd Muslin,         " 55/   6.60       16 75'    - lb. Sewing Silk,    " 8.00              2 00
EXPLANATION.                 S. A. J. Lace 10/, Sewing Silk 4/, Cord 7          21
2 Prs. Lisle Thread Gloves, @ 311/             63
The Petty-Cash-Book here                1 " Col'd Kid                              87
given is a small memorandum                         Oct.  th/52. C.-B.               37
book, which lies in the mo- 
ney drawer where the receipts
for sales during the day are
placed.                                   Cash debits, pr. C.-B.,
Each   salesman  or sales-                  Mdse. column             25.37
-woman, coming to the drawer                   Sundries "            1,435.50    1,46087
to make change, or to place               Cash credits, pr. C.-B.,
therein sums received, enters                  Expenses column          43.00
in this book the items sold.                   Sundries  "           1,365.76    1,408176
Then, at night, the footing               Balance Cash on hand                     5211
must agree with the amount
of money in drawer; and this      S A.J. 1 Velvet Mantilla              35.00
sum is entered in the Cash-          it   2 Yds. White Illusion,  @ 32/.64       35 64
Book, as the day's sales.         B. T. L. Blk. Twist 13/, Edging 22/                135
The   left hand  marginal       L. W.  1 Box Artificial Flowers                  150
column is used for the initials      "    Floss 25/, Twist 15$                        40
of the persons b  whom the      S. A. J. 1 Changeable Silk Mantilla              18 00
no the persons by whom the        B. T. L. 3 Lace Capes,          O 4.75           14 25
goods were sold.                     "    Artificial Flowers                          25
c'   Inserting 30/, Gloves 56/                   86
This book is also used for! L. W.   Doz. Italian Cravats  @ 12.00            6 00
S. A. J. Trimmings                                  33
balancing the Cash account,       B. T. L. 1 Emb'd Robe                  5.50
nightly, which should always         "    12 Yds. White Satin,   @ 1.25 15.00
be done in a retail business, to     "    5             " Col'd Velvet,  " 3.00 15.00  35 50
avoid errors~.'        L. W.  i Doz. Neck Ties,       " 4.75            2 37
avoid errors.                        "    Twist
(   Twist                                      09
NoTE.-The sales of only two days are here  B. T. L. 2 Lace Capes,  @ 3.50 7.00
given. This will be sufficient to serve as a  "  2 Prs. Linen Gloves,  "45  90      7190
sample. 
Oct. 12th/52. C.-B.          123 44
When the business is sufficiently large to require it, a
Petty-Cash-Book may be ar-                Cash debits, pr. C.-B.,
ranged and used, as described                  Mdse. column            148.81
under Form 5.                                  Sundries "            1.435.50   1,584 31
Cash credits, pr. C.-B.,
Expenses column          47.50
Sundries   "          1,365.76    1,413 26
Balance Cash on hand                    171 05
220




DAY-BOOK, FORM 2.
North J.dams, Mass., October 1st, 1852.
L. F.      _Sundries Dr. Sundries Cr. Mdse. Cr.
1  Sundries             To Stock,                        2,500 00 
For Effects invested
1  Cash,               In Quincy Bank            910 50
2  Bills Receivable,   Sundry Notes, pr. B.-B.  1,200 00
1  Merchandise,        Stock on hand, pr. Inventory  389 50
9th
1  Merchandise          To Sundries,            3,696 25
For Goods purchased by me, in Boston, pr. Invoices
2      To Bills Payable,   Notes issued, pr. B.-B.       2,230 00
3       " Abbott Lawrence, Invoice @ 6 mos.                845,50
4       " Daniel Webster,    "                             6 "  620 75
11th
4  James Peabody        To Mdse.,
l  Doz. Linen Cambric Hdkfs.    @ 3.50      1 75
1 Blk. Italian Cravat                       1 50               3 25
12th
4 Mrs. Eliza Anderson To Mdse.,
12 Yds. Mull Muslin ( 31'                   375                375
5  Wm. Bates            To Mdse., pr. wife,
2 Yds. Linen Lawn                @ 65       1 30
10" Cambric Edging                " 25      2 50
16 "    "   Inserting             " 34      5 44
8 " Swiss     "                   "22       176
1 Velvet Mantilla                          25 00
1 Lace Cape                                 450               40 50
14th
2
_  Expenses             To Wm. Bates,
5       For his Bill of Repairs                    1000     1000
16th
4  Mrs. Eliza Anderson  To Mdse.,
1 Pr. Blk. Kid Gloves69                                          69
l~ c  _                       l69
5  Isaac Norris         To Mdse., pr. daughter,
1 Blk. Silk Mantilla                        5 00
2 Embroidered Collars          @ 1.122      225                17 25
______________.C _______________
1  Cash                 To Sundries, pr. C.-B.,  1,091 35
2      To Bills Rec.,  7th              525.00
Do.        14th             125.50             65050
v      " Merchandise,      Cash Sales                               44085
Mdse. carried forward               506 29    50629
7,363104  7,363 04
221                    l ---- -




2                      DAY-BOOK, FORM 2.
North.ldams, Mass., October 16th, 1852.
L. F.  _Sundries Dr. Sundries Cr. Mdse. Cr
Mdse. brought forward      506 29               506 29
1  Sundries,           To Cash       pr. C.-B.,              1,43576
1  Merchandise,         8th                12.50
Do.              9th             1,353.26  1,365:76
5   Barber T. Lee,      16th                          6 00I
2  Expenses,                       For the mo.       6400
18th____
5   Barber T. Lee        To Mdse.,
1 Blk. Italian Cravat                         1 25                 1 25
20th
6   Hiram T. Owens       To Mdse., pr. son,
1 Yd. Col'd Silk Velvet                       3 25
1 Pr. Blk. Kid Gloves                          1113
2 " Lisle Thread "                 @ 311        62                 5 00
21st
5  Isaac Norris          To Mdse., pr. wife,
5 Yds. Swiss Muslin                @ 25        1 25
1 " Green Barege                                30
1 White Demi Veil                              1!50
1 Blk.  "   "                                 1 75 
1 Fancy Silk Scarf                            1 88                 668
4   Mrs. Eliza Anderson   To Mdse.,
1 Embroidered Robe                             5 00                500
25th _
6   Misses T. & M. Williams To Mdse.,
1 Ps. Blk. Crape                               3 00
3 " Col'd "                       @3.25        975                1275
_________ 26th
3  Profit & Loss        To Bills Receivable,
2       Note No. 1 is lost, the drawer, P. T. Lamb, having
failed.                                     2500      25 00
4   James Peabody        To Mdse.,
1 Pr. Silk Thread Gloves                        63
2 Pongee Silk Hdkfs.              @ 1.00       2 00                263
_________ 29th
|   Hiram T. Owens        To Mdse., pr. wife,
2 Yds. Bonnet Ribbon                  @ 30         60
3 " Cap          "                    "15          45
1 Muslin Cape                                     350       455
Mdse. carried forward                 539 60     539 60
2,004 91  2,004,91 
i                        222 -L                   I                 I




DAY-BOOK, FORM 2.                                  3
North sidams, Mass., October 29th 1852.'L.F.                                    Sundries Dr. Sundries Cr. Mdse. Cr.
[I4  |              ~lMdse. brought forward  539 60      539
6 Hiram T. Owens     To Mdse., (continued)    455
3 Neck Ties                  @ 311      94
2 Prs. Embroidered Cuffs     " 561     1 12
1 Box Artificial Flowers               1 38
4 Linen Cambric Hdk'fs       " 45      1 80             9 79
30th 
2 Expenses           To Barber T. Lee,
5    1 month's Wages to date               2000     20 00
cc
1 Cash               To Sundries, pr. C.-B.,  1,515 34
5     To VWm. Bates, 18th                             30 50
2      cc Bills Rec.,,"            51.60
c"   Do.      27th          100.00            151 60
5      c, Isaac Norris, 28th                          10 00
3      " Interest,  29th                              876
V/      Merchandise,         Cash Sales                    1,314 48
cc
1 Sundries           To Cash   pr. C.-B.,          111547
3 Interest,         18th.77
Do.             27th             1.77     254
5 Barber T. Lee,    18th             2.00
Do.           30th           10.75    1275
1 Merchandise,      27th                    51028
2 Bills Payable,    29th                    520;40
2 Expenses,                   For the mo.,   69 50
1                  Total Merchandise Credits _____  1,86387  1,863187
i                                           3,20020  3,20020
- _____ I _ -
TRIAL BALANCE, LEGER, FORM 2.
Dr.     Cr.
L. F.' 
1 Stock -    -                         2,500 00
1 Cash -         -              965 96
1 Merchandise - -  -  --      4,097 92
2 Bills Receivable -  -         372 90
2 Bills Payable - - -     -             1,709 60
2 Expenses                     163 50
3 Interest --           -                 622
3 Profit & Loss  -25100
3 Abbott Lawrence -  -  -  -             845 50
4 Daniel Webster -  -   -                620 75
4 James Peabody  -  -  -  -      588
4 Mrs. Eliza Anderson -  -  -    9 44
5 Isaac Norris -          -     13 93
6 Hiram T. Owens -  -  -  -     14179
6 Misses T. & M. Williams  -    12 75 _____
5,682107  5,682 07
FI
ha closing this Leger, the JMdse. remaining unsold, as pr. Inventory, may be called $4,563.89.
223




BALANCE      ShIEET, LEGER, FORM          2.
North Adams, Mass.,' I  Face of Leger.    Profit & Loss.      Stock.            Balance.
November 1st, 1852..  Dr.       Cr      Dr.      Cr.     Dr.      Cr.      Dr.       Cr.
Stock.....  1.        2,500 00... |.   2,500 00
Cash....   1     96596........          96596
Merchandise...  1   4,09792   4, 56389..     465 97......    4,56389
Bills Receivable..  2     372190....                                           372 90
Bills Payable... 2.         1,709 60....1.      1,709 60
Expenses....   2     16350.       163 50
Interest.            3..                  6        622
Profit & Loss.         3      2500.       25 00
Abbott Lawrence...  3..       845 50                                                845 50
I Daniel Webster.       4..       620 75                                                620 75
JamesPeabody...4         588.588
Mrs. Eliza Anderson.  4       9 44                                                  9144
Isaac Norris...  5      13 93.                                               13 93
Hiram T. Owens..   6      14 79...14 79
Misses T. & M. Williams.  6  12 751.....                                   12 75
5,682107  5,682 07
To Stock, for Net Gains  286389..     283169
47219    47219
Net Capital 2,783169 _____
2,783 69  2,783 69              __
If you write up this Form, you will be able to judge of    Net Capital, as pr. Stock       2, 783 6 9_
the correctness of your Leger, by comparison with this                             5,959 154  5 959 54
Balance Sheet. 




E. M. LAFOURCADE, SON & CO.
PRACTICAL FORM, NO. 3.
PLAN FOR JOURNALIZING MONTHLY.
2D          225




EXPLANATORY REMARKS, FORM 3.
THIS Set exhibits a method of keeping books known to almost every experienced
accountant as the plan of "journalizing monthly."  It is designed for a wholesale,
jobbing business; but a similar form of accounts may be used to advantage in many
other kinds of business, by varying the books of original entry slightly, as occasion
may demand. In manufactories, in large retail stores, and in houses doing a general
trading business, such a form is often used.
The important books of original entry are Cash-Book, Bill-Book, Sales-Book, and
part of the Journal-which is used during the month for making such entries as would
otherwise require a separate Day-Book. The first three mentioned are journalized
monthly, by which process the various entries in each to any given account are summed
up together in the Journal, and the postings are made in monthly totals, instead of a
separate post for every separate entry. These four books (including the Journal only
so far as it is so used) are in fact all Day-Books, i. e. they all contain the daily original
records of transactions, and are the books which must be relied upon for evidence in
courts of justice. Therefore, the remarks made on page 111, as to corrections of errors
in the Day-Book, are equally applicable to each of these books as used in this Set, which
should be so kept as to be above suspicion of fraudulent intent or erroneous result.
Besides these, there are various auxiliary books needed, examples of which have been
given, with explanations accompanying them, on pages 170-182.
CASH-BOOK.
The explanation of Cash-Book, Set VI, pages 124 and 125, may be taken almost
entire as the explanation of this Cash-Book, substituting the word "Journal" wherever
the word "Day-Book" occurs. Once a week, or as often as it is wished to make trial
of the correctness of the Cash account, the debit and credit columns may be footed up.
and then the amount of cash in bank (as shown by the Check-Book) and the amount in
Safe may be placed in red ink a little to the left of the credit footing, and if their sum
be equal to the difference of the cash columns, it proves the account correct. In each
subsequent testing of the account, the last preceding footings of the columns should be
included in the additions made; thus the gross amounts are carried forward until the
end of the month.
BILL-BOOK.
Bills Receivable and Bills Payable are usually bound in opposite ends of the same
book, styled Bill-Book. This book is so simple, that you will see by inspection its utility;
and all necessary explanations are made by the headings of the different columns. The
entries extend across two opposite pages of the blank book, which together constitute
but one page, or folio, of the Bill-Book. Other persons' notes to you are entered in
this book at the time of their reception, and your own notes to others are entered at the
time they are issued.
The amount of unpaid notes held by you against others, as shown by this book, must
agree at all times with the balance of Bills Receivable account in the Leger; and the
amount of unpaid notes outstanding against you, as here shown, must agree with the
balance of Bills Payable account in the Leger.
This, like the Cash-Book, may be a mere memorandum book, for keeping a correct
record of notes received and issued, or it may be, as it is in this Set, an important book
of original entry from which to journalize. The total of the Journal entry "Bills Receivable To Sundries" must correspond with the gross amount of notes received; and
the total of the entry " Sundries To Bills Payable" must agree with the gross amount
of notes issued.
226




SALES-BOOK.
The Sales-Book, like the books already spoken of, is often used as a mere auxiliary.
But, in this Set, it is one of the main books of original entry, and one from which
Journal entries are made. All sales, both for cash and on credit, are entered in it, at
the time the sale is made. At the close of each day, the sales for cash are transferred
to the Cash-Book-first noting on a slip of paper the amounts of the several cash sales,
adding them       up, and comparing          the   total with    the   money actually received during the
day for sales, which receipts should be kept separate from the other moneys on hand for
the purpose of this comparison. If any portion of such receipts are deposited in bank,
a memorandum can be kept thereof, and counted in as so much cash; so also with any
other sums added to or taken from the same. The credit sales are supposed to be at
six months, when no mention is made of the time.
Credit sales are extended into the outer or right-hand column, but cash-sales are kept
in the left-hand column, or if the amount of an entry has been extended, and subsequently, but before the entry is journalized, it is paid, the figures in the outer column
should have lines drawn through them, so that they will not be included in the footings
of the Sales-Book. The credit sales are added up, and the amount carried forward
from   page to page till the end of the             month.       This book is journalized under the heading of "Sundries To Merchandise," and the total credit to Merchandise under this head
must agree with the final footing of the Sales-Book.
NOTE.-Houses doing a different kind of business, can vary the books of original entry, adopting such as are most convenient, and
still journalize monthly, if desirable.
4^- The disadvantage of this Form, compared with Form 4, is, that accounts of persons are seldom posted up ready for settlement,
but are generally nearly, or quite, a month behindhand.
JOURNAL
Transactions oftentimes occur in the course of business which cannot appropriately be
entered in the Cash-Book, or Bill-Book, or Sales-Book; and for these some have a separate Day-Book, and journalize it monthly like the other books. But I prefer using the
Journal as a Day-Book during the month, and placing such entries in it; and then
posting them directly from this first entry to the Leger. Purchases of goods on credit,
and such cash purchases as you wish to have appear on the Leger, in the account of the
person from whom you buy, are entered also originally in the Journal. The invoices
are kept on file until the end of the month, when they are arranged in order, and entered
"Merchandise To Sundries," all the purchases of any one man being brought together
in one total in making the entry, so as to save labor in posting. The remaining and
legitimate use of the Journal (that from which it takes its name) is to receive the entries
transferred into it monthly from the other books.
Directions for Writing up.
Blank books are prepared for this Set, and accompany the treatise.
Commence with the first day of the month, and by examining you will find one entry in the Journal, four in the Cash-Book, one in
the Sales-Book, and three in the Bill-Book on that day, which you will enter in the same manner in your Journal, Cash-Book, SalesBook, and lill-Book-leaving the Leger folio columns blank, to be filled when you post. Next examine the different books of original
entry, to see what transactions occur on the second day, and enter the same in your books. After completing them. proceed with the
third day in like manner. And so on with each succeeding date, recording, in the proper books, all transactions that take place on
any particular day, before making any entry of the day following it. This will give an idea of the exact process of entry in the
counting-house.
At the close of the month, journalize one of the books of original entry entire, then a second, and so on, until all are journalized.
It makes no material difference which book is journalized first, but the Cash-Book is the one here selected. Commencewith the debit
side-" Cash To Sundries"-and enter the various receipts to the credit of the proper accounts, and place together the several sums
received at different times from the same account, so as to add up and post them in one amount to the Leger. This renders it necessary
to look over the whole of the Cash debits carefully for each account entered, to find all the receipts therefrom; and, to avoid omissions
and errors, check each sum in the Cash-Book, as soon as journalized. To afford convenient reference from the Journal to the CashBook at any time, affix to each sum its proper date. Having completed the debits, next journalize the credit side, saying " Sundries
To Cash," and debitinc all accounts for which payments have been made during the month.
Journalize the Bill-Book under the headings " Bills Receivable To Sundries," and " Sundries To Bills Payable," checking the items
as you proceed.
" Sundries To Merchandise" is the proper heading for the Sales-Book.
The two columns for dollars and cents are not used to distinguish debits from credits, but the first is for items, and the second for
the extension of sums total.
In posting the entries journalized, the last day of the month may be used for the date in the Leger. In opening the accounts in
this Leger, you may observe the usual counting-house arrangement of them, which is to open the accounts of partners, property
accounts, and all the general business accounts, in the first part of the Leger, by themselves; and to let all the personal acccu nt
follow them. This renders convenient the taking of Trial Balances and other exhibits from the Leger..V Be particular to make your own additions, extensions, and other calculations, wherever they occur in any of the books.
227




CASH-BOOK, FORM 3.
_Dr.                                Cash.
1852.
Nov.   1 To Edwin M. Lafourcade, Am't invested                           10,000 001/
"       " Louis P. Lafourcade,   t  "i                                  5,0000  1/
"    ^  "^ Chas. Boutelier, Jun., it  i                                 5,000 ~00
2      " Merchandise,         Sales this day                              37 o0
"   3  "    Do.              Of Grayson & Co., less Dis. pr. contra      357 401/
"    4  "     Do.              Sales this day                             319 801
"    5  "     Do.                i( i"                                     25 O07
6            Do.               "   "  "                                   37 88/
20,777 58
"    8  " Samuel Tillotson,    On a                                       500 001/
^   9  " Merchandise,        Sales this day                              339 OO1/
"   10  " Interest,           Dis. on Bills Pay. No. 3, pr. contra, $2,806.84 @ 5 %  140 341/
"   11  " Bills Receivable,    No. 1, discounted by Durbin, Payson & Co.  562 501/
u  12  " Merchandise,         Of Jacob Lukens, Jun., less Dis. pr. contra  216 001/
"   13        Do.             Sales this day                                  30
22,541 72
16 |( Interest,             Dis. on Bills Pay. No. 4, pr. contra, $492.50, for 52
days                                        4 271/
"   20  " Merchandise,        Sales this day                               75 001
22,620 99
"  23  " Merchandise,         Net Sale to Peter Phelps, 19th inst.       180 0/
"  25  " Bills Receivable,   No. 7, discounted by Julius & George Lee    398 67/
27  " Merchandise,        Sales this day                               1000/
23,209 66
{ 129   "( Merchandise,       Of Benj. Loper & Co., less Dis. pr. contra  408 00,/
"    "  " Samuel Tillotson,   On a                                        500 00o"    "  " Merchandise,        Sales this day                               40 501
30   " Mrs. Mary Green,     In full                                      7 81
l / 1 224,165 97
Dec.   1 To Balance,            From Nov. 30th                           10,78 7 02
228




CASH-BOOK, FORM 3. 
Cash.                                          Cr.
1852.
Nov.    1  By Merchandise,            Bo't of Isler & Co., pr. Invoice                    643 501/
it    2    i" Expenses              Store Fixtures                                        30 00,/
"c    c   cc    DO.                  Drayage & Labor                                      12 25 /
ci    3   " Interest,               Dis. 5 % on $357.40, pr. contra                       17 87-/
s5  " Merchandise,             Bo't of T. Lathrop, pr. Invoice                     162 94/
" "       "     Do.                 Hoops for strapping boxes                             15 001/
6  " Expenses,                Cooperage                                             3 501/
In. Bank                   19,874.13 ) $1 892 52    88506
In Safe                       18.39                 885 06
8       " Joseph Ralston,         On %                                                   5 00/
"     9   " Merchandise,             Bo't of Le Brun & Bro., pr. Invoice                  82 10/
ItL I      Expenses,               Blank Books and Stationery                           14 251/
"    10   " Bills Payable,          No. 3, discounted by us, pr. contra               2,806 841/
("   11   " Interest                Dis. on Bills Rec. No. 1, pr. contra, $562.50 ( 5 %   28 121/
*"   12       Do.                   Dis. on Sale to Jacob Lukens, Jun., 5th inst., pr. contra, $216 @ 5 %                                    10 80o /
"    13   " Webster & Shaw, Boston, Paid their Draft on us (~'sight, favor of Ludlow & Co.,
dated 3d inst                                     725 001/
In Bank                    17,863.40 $17,984,55   4     17
In Safe                       121.15  17          4,557 17
"    15   " Merchandise,            Bo't of Lind & Beers, pr. Invoice                   562 00/>
"    16   " Bills Payable,          No. 4, discounted by us, pr. contra                 492 501/
18       " Expenses,               Cooperage, Labor, &c.                                  2 751/
"    "    " Louis P. Lafourcade,     On %                                               500 00/
20       " Joseph Ralston,                                *' "                           10 OO0/
"     "   " Merchandise,             Rec'd pr. "City of Glasgow," from Robertson & Howell,
Luton, Bedfordshire, Eng., an Invoice of Bonnets, dated 1st inst., Am't
~160 8s. 6d., for which we have remitted them a Bill of Exchange, @ 3
mos. from date of Invoice, purchased of Ledoux & Cornelle, on Brown,
Shipley & Co., Liverpool, @ 92 % Prem.0 80 741/
"{ |       ((  Merchandise,        Freight on above, and Shipping Expenses in Eng.      56 751/
"is I"          Do.                  Duties on ~160 8s. 6d. (~ $4.84 pr. ~) ( 30 %      232 94/
In Bank                    15,420.50 $15,426148
In Safe                         5.64 $15,42194            5
"    22   " Expenses,               Paper & Ink                                              751/
25       " Interest,               Dis. on Bills Rec. No. 7, pr. contra, $398.67 @ 5 %   19 931/
26       " Bouvier Brothers,        On,                                             1,000 00i/
"  I27 |" Merchandise,               Geo. Parr & Co.'s Bill of Exchange on Brown, Shipley
& Co., Liverpool, for ~320 17s., @ 3 mos. from 8th inst., purchased @
9 % Prem., and remitted to Robertson & Howell, Luton, Eng., for Invoice
of Bonnets, Plaits, &c., of same date and time, Rec'd pr. "1 Niagara"  1,554 341/
i"        " Merchandise,            Shipping Expenses in Eng., and Freight              113 50/
cc j      " I   Do.                 Duties on ~320 17I. (~ $4.84 pr. ~) @ 30%           465 87In Bank                    12,625.18,.42
In Safe                      235.24 $1260.42        34924
t    29   " Interest,               Dis. on Sale to Benj. Loper & Co., 26th inst., pr. contra, $408 @ 5 %                                    20 40V
"    30   " Merchandise,            Rec'd pr. " Crescent City" from Havre, an Invoice of
Swiss Straw Plaits, Laces, &c., dated Nov. 2d, Am't 10,176 francs, forwarded to our Order by Surbridge, Bro. & Co., Wohlen, Switzerland, for
which they have drawn on our %, ~ 3 mos., as pr. instructions, on Delacroix & Co., Paris. We have purchased a Bill of Exchange of Ledoux &
Cornelle, on Delacroix & Co., and remitted to them to cover the Am't of
their acceptance f.10,176, and their Com. for accepting 1 %, f.101.76==
f.10,277.76-Exchange ( f.4.89 to the dollar.                      2,101 79/
"         it "   Merchandise,       Transportation from Wohlen, Shipping Charges and
Com. of Agent at Havre, and Freight on above Mdse.                  186 40V/
C   v "   " Merchandise,            Duties on f.10,176 (@ 18 l oso, pr. f.) @ 30 %    571 121/
IC"   "   i" Expenses,              Rent of Store $75, Wages of Clerks $75              150 001/
"c.    Balance,                In Bank $10,719.10, In Safe $67.92               1 0,7 8 7 0 2
24,165 97
229




BILL-BOOK, FORMI 3.
Bills
Note. o R eee d.  Drawer              In whose favor.     tef  Time.
Note.  Received.                                         Note.
1852.                                              1852.
1 Nov. 2 Durbin, Payson & Co. Ourselves               Nov. 2 6 mos.
2   "  3 Willard, Brady & Co.  "                       "     6 "
3   "  8 Ourselves          Accepted by Ferree & Bro. in our fav. Oct. 28 6G 
4     cc"  "   "              "            C          Nov. 86"
5   " 11 Decoursey & Wise   Drawer                     ( 11 6 "
6   " 18 Julius & George Lee  "                        " 18    "
7   "        "                                             c 6 " 6
9   c" 25    "              Ourselves                  " 25 5 "
10                                                            7 "  < 
Bills
Not. f  When     Drawer.              In whose favor.    otef  Time.
Note.  Issued.                                           Note.
1852.                                              1852.
1 Nov. 1 Ourselves          Drawer (% of Dufour, N. & Co.) Nov. 1 2 mos.
2   C                                                      c c  ~  c  4 6"
4   "  5     "              Margot & Haines            "  5 60 days
5   " 10     "              Drawer (% of Dufour, N. & Co.) " 10 3 mos.
6   " 16     "                         "               " 16 6 "
7   " 23     c                         " cc               23 4 "
8   " 29     "              Margot & Haines            " 29 90 days
9   "cc      "              E. B. Bolton               c 29 4 mos.
10   " 30 Dufour, Nephew & Co. Accepted by us in fav. of Drawers  " 30 3
230




BILL-BOOK, FORM 3.
Receivable.
When due.
Where due.   ~ ~             ~               Amount.        Remarks.
Bank of Louisiana           5                      562 50 V Discounted Nov. 11th
New Orleans                 6                      102 97 V
1                       377 25 
10                      37725 V
Bank of Louisiana          14                      25965 6V
"C               21                            398 67 V
cc~              I            I | 21     398 67 V Discounted Nov. 25th
21                  398 66 V
Planters' Bank          28                         297 00 V
6  28                 29700 V
3,469 62 V
Payable.
When due.
Where due.   -. >        -    0 >     m 7            e 6  Amount.  Remarks.
Bank of Louisiana 4                               2,806 83 V
"C4 ~        4                           2,806 83 V,, 4                                         2,80684 V/ Discounted Nov. 10th
Planters' Bank   7                                 492 50 V         "  " 16th
"  183                          652136 V
c  19                    422!10 V
26                           210'28 V/
<(4~         2                            910 35/V
New Orleans              1                         712 00 V/
Bank of Louisiana     3                            165i75 V
11,985,84 v~
231




SALES-BOOK, FORM 3.
New Orleans, November 1st, 1852.
I/   Ferree & Brother,                                Natchez.
15 Cases, 180 Prs. Men's Stout Boots            @ 2.00    360 00
3   "  180 "   "  Lasting Gaiters                 1.75    315 00
18 Cooperages        25       4 50   679 50
2d
I/  Durbin, Payson & Co.,           (Note pr. B.-B.)  Vicksburg.
1 Case, 60 Prs. Men's Goat Nullifiers            @ 80      48 00
3 "   180 " Women's Grain Buskins                  80     144 00
2 "   120"    "    Lasting i Gaiters               90     108 00
1 "   60 "    " Col'd"      "                      80      48 00
2 "   120 "   "    Kid Slippers R. R.              70      84 00
2 " 120 " Misses' Goat Lace Boots                  75      90 00
1 "   60 "    ". R. Paris Ties                 622     37 50
12 Cooperages        25       3 00   562 513
l/  Dolbear & Reikert,                           Memphis, Tenn.
128 Ps. Straw Trimmings                          @ 50      64 00
24 " French Straw Lace                            1.25     30 00
12 "    " Inserting "                             1.50     18 00
Box & Cooperage                75    112 75
Paid Cash Sales,
50 Scores Sacramento Plait                       @ 272     13 75
50  ",     "i                                472     23 75
3_______ _ d -    -------------- _  3750
1/  Willard Brady & Co.,             (Note pr. B.-B.)  Orange St.
75 Scores Rock Luton Plait, No. 4                @ 45      33 75
100 I"    "   "t   "  " 5                          50      50 00
8  Maids' Coburg Bonnets " 2                       25       2 00
18   "   China Pearl "  " 1                        33       5 94
12 Women's "  "   "                                372      4 50
16   "  Goffer'd Edge "                            33       5 28
2 Cases              50       1 00
Cooperage                      50    102 97
Paid Grayson & Co.,                                    Natchez.
less Dis.  3 Cases, 180 Prs. Women's Calf Lace Boots       0 1.25    225 00
119 Maids' Feather Edge Bonnets                   1.10    130 90
4 Cooperages         25       1 00
1 Case                         50   0;/i
4th
Paid Cash Sales,
10 Prs. Men's Stout Boots                       ( 1.98     19 80
i/  Dolbear & Reikert,                               Memphis.
48 Women's Cap'd Bonnets                        0 1.122    54 00
48   "   Tulip   "                                1.20     57 60
50   "   Eng. Straw "                              372     18 75
Box & Cooperage                75    131 10
IC
Paid Jones, Brother & Co.,            (Net)            Canal St.
4 Cases, 240 Prs. Women's Lasting Gaiter Boots  @ 1.25    300 00
Am't forward                               1,588 82
232




SALES-BOOK, FORM 3.                                              2
New    Orleans, November 5th, 1852.
1,58882
V/  Samuel Tillotson,                                  Gravier St.
10 Cases, 600 Prs. Women's Goat Buskins           ( 1.15     690 00
30 Ladies' Open Fancy Bonnets                         382     11 55    701 55
C'
Paid Cash Sales,
100 Infants' China Pearl Bonnets                   @ 25       25 00
Paid Jacob Lukens, Jun.,                                St. Louis St.
12th       4 Cases, 240 Prs. Women's Kid Slippers R.. R.         90              AfA   P
6th
1/   Morris L. Halsey,                                   Camp St.
6 Prs. Youths' Stout Brogans                       @ 622                 3 75
Paid Caleb Jarden & Nephew,                             Jackson St.
30 Infants' Diamond Satin Bonnets                  @ 261       7 88
40 Prs. Misses' Goat Lace Ties                        75      30 00
----------— th  -— 37             88
8th
/    Ferree & Brother,                                   Natchez.
10 Ps. Swiss Straw Cord                           @ 4.50      45 00
20 Doz. Tassels                                      1.50     30 00     75 00
9th
Paid Cash Sales,                                       Carson & Co.
5 Cases, 300 Prs. Men's Stout Brogans             @ 1.10     330 00
Paid Cash Sales,
20 Scores Rock Luton Plait                         @ 45        9 00'C
V/   Mrs. Mary Green,                                  Calliope St.
25 Women's Rock Luton Bonnets                      @ 311                  7 81
11th
V    Decoursey & Wise,                 (Note pr. B.-B.) Jackson, Miss.
120 Scores China Pearl Plait                       @ 15       18 00
160  "     "   ("   "                                 25      40 00
19   "   California  "                                17       3 23
15   "      "       (                                 35       525
12   "   Sacramento  "                                472      5 70
112  "   Tulip      "                                 26      29 12
180  "   Alboni     "                                 311     56 25
130  "   Bedford    "                                 37      48 10
50   "   Fany Coburg "                                50      2500
10' Patent      "                                 90       9 00
10  o"     "                                        1.25      1250
10   "   Split Straw  "                               60       6 00
2 Boxes & Cooperage            1 50    259 6)
13th
Paid Cash Sales,
18 Maids' Triplar Bonnets                          @ 35        6 30
15th 
1/  William P. Lewis,                                  Market St.
2 Doz. Fr. Straw Lace, Emb'd                      @ 6.00                12i00
Ain't forward                                 2643!58
2E                              233




3                     SALES-BOOK, FORM 3.
New    Orleans, November 18th, 1852.
11   1    2,64'858
V   Julius & George Lee,             (Notes pr. B.-B.) Baton Rouge.
4 Cases, 48 Prs. Men's Stout  Boots             @ 1.75     84 00
4  "  48 "    "  Kip      "(                      2.00     96 00
4  "  48 "    "  Calf Pegged                      2.50    120 00
4  "  48 "    "   " Sewed "                        3.25   156 00
4  "  240" Boys' Stout Brogans                      75    180 00
4  "  240 "   "  Kip   "                            80    192 00
4  "  240 " Women's Kip Lace Boots                  60    144 00
4  "   240 "       Calf "   "                       90     21600
32 Cooperages        25       8 00  1,19600
19th
Paid Peter Phelps,                    (Net)            Market St.
23d        20 Doz. Blond Straw Lace                        @ 4.50     90 00
20 Ps. Swiss "  Cord                               4.50    90 00    Xp 00
20th
Paid Cash Sales,
50 Doz. Tassels                                 @ 1.50     75 00
22d
Ferree & Brother,                                   Natchez.
12 Maids' Feather Edge Bonnets                  @ 1.03     12 36
50  "   Plain Straw  "                              622     31 25
62 Paper Boxes        3       1 86     45 47
25th 
V    Julius & George Lee,            (Notes pr. B.-B.) Baton Rouge.
6 Cases, 72 Prs. Men's Calf Stitched Boots      @ 5.00    360 00
6  "  72 "    "   " Sewed   "                     3.25    234 00    594 00
26th
Paid Benjamin Loper & Co.,                            Poydras St.
29th       8 Cases, 480 Prs. Women's Rid Slippers, R. R.@ 85                   4$ 00
27th
Paid Cash Sales,
12 Prs. Children's Calf Brogans                   ( 372      4 50
V   Samuel Tillotson,                                Gravier St.
15 Cases, 900 Prs. Misses' Goat Lace Boots       @ 75     675 00
15  "  900      "  R. R. Paris Ties                 60    540 00   1,215 00
Paid Cash Sales,
20 Girls' Diamond Satin Bonnets                  @ 272       5 50
29th
Paid Cash Sales,
18 Maids' China Pearl Bonnets                    (      33   6 6 00
30 Women's Tulip   "                              1.15     34 50
30th                                 40 50
/   Benjamin Loper & Co.,                           Poydras St.
5 Cases, 300 Prs. Youths' Stout Brogans          @ 622    187 50
5  "  300 "    "   Kip   "                         50     15000
5 "   300 " Children's Calf "                      372    112 50
2  "   120 " Women's  " Lace Boots                1.25    150 00    600 00
Total Sales on time for the month          6,299 05
234




JOURNAL, FORM 3.                                        1
New    Orleans, November 1st, 1852..
Merchandise              To Edwin M. Lafourcade,
Invested, as pr. Invoice                                l13628 34
g3 -------------— 15th
3  Joseph Ralston           To Dolbear & Reikert,
Order of J. Ralston on us, favor of Dolbear & Reikert,       25 00
2                        ----------  30th
_ Expenses                  To Joseph Ralston,
3        Wages for one month                                          65 00
1 Merchandise               To Sundries,
Purchases this month, pr. Invoices.
3     To Dufour, Nephew & Co.,     Notes @ 2, 4 & 6 mos.,  1st  8,420 50
c        it                   "     " 3 mos.,  10th    652 36
tc       c                    "   " 6 "        16th    422 10
tf~c(" " i                  4 "         23d     210 28
"   "3 "         30th    165 75   9,870 99
3      c" Webster & Shaw, Boston, Mass., Draft,        3d     725 00
"    t 4 mos.,             17th    556 50
c  c"        "i  4 "t              25th  1,342 64   2,624 14
3     " Margot & Haines,           Note @ 60 days,    5th     492 50
" t " 90 i"     29th     910 35   1,402 85
3     " Bouvier Brothers,          2 mos.,           13th     840 60
4                 26th    610 18   1,450 78
4     " Lewis Davis & Co.,         3                 18th              2,133 90
4      " Jones & Riggs,  Lynn, Mass., 6 "             22d              1,840 00
4     " Brainerd & Son,            4 "               29th              1,445 80
4     " E. B. Bolton,              Note @ 4 mos.,      "                712 00
21,48046
1 Cash                      To Sundries,    Receipts pr. C.-B. 
1     To Edwin M. Lafourcade,                         1st            10,000 00
1     " Louis P. Lafourcade,                                          5,000 00
1     " Charles Boutelier, Jun.,                                      5,000 00
1     " Merchandise,                                  2d       3750
tur~t  ((~ ~3d                             35740
cctti'ct~ ~4th                           31980
cc t                                    5th      2500
cA     ac                                       6th     37 88
9th     339 00
cc     ac                                      12th    21600
t      IC                                      13th      6 30
cctt~  cc~ ~20th                             7500
cc     cc                                      23d     18000
it"c~~  t~ss                       27th      10 00
cc   cc                                      29th    408 00
(vc    "f~                  v({~ _s40 50    2,052 38
4     " Samuel Tillotson,                             8th     500 00
ccu9~  i~Cc~ I29th                          500 00  1,00000
2     " Interest,                                    10th     14034
ctr C   C                                      16th      4 27     144 61
2      " Bills Receivable,                           11th     562 50
Ia C'                                        25th    398 67     961 17
5     " Mrs. Mary Green, (Sundry Debtors)            30th ]7 81
I___  324,165)97
235




2                         JOURNAL, FORM 3.
New    Orleans, November 30th, 1852.
I  Sundries                     To Cash,    Payments pr. C.-B.
1  Merchandise,                                         1st    643 50
| tu~~~~~ sv5th                            162 94,, it                                                 315 00
9th      82 10
"c                                            15th    562 00
20th     780 74
cc.       56175
c                                              cc     232 94
27th   1,554 34
v~"s ~~                            i "     113 50
i t    465 87
30th   2,101 79
ut.                                                    186 40
571112   7,528 99
2  Expenses,                                            2d      30100
"                                              it"     12 25
| c                                            6th      3 50
9th      14 25
18th       2 75
t~                                            22d         75
30th     150 00    213150
3  Joseph Ralston,                                      8th       500
20th      1000       1500
2  Bills Payable,                                      10th   2,806 84
C' 6il~~~16th                             492150   3,299134
2  Interest,                                            3d       1787
"vvu~                              n~~11th  28 12
12th      10 80
25th      19 93
29th      20|40     9712
3  Webster & Shaw,                                     13th               72500
1  Louis P. Lafourcade,                                18th               500 00
3  Bouvier Brothers,                                   26th              1,000 00
30th                                       13,378 95
2  Bills Receivable          To Sundries,      Re'd pr. B.-B.
4     To Durbin, Payson & Co.,                          2d                562 50
5 |       Willard, Brady & Co.,                         3d                102 97
5      " Ferree & Brother,                             8th     377 25
uvv c~                       itvv~, 377 25     754150
5      " Decoursey & Wise,                             11th               259 65
5      " Julius & George Lee,                          18th    398 67
(C,,, 398167,,,,C            398 66
C'C25th                                           297 00
rrv"  v".                             297 00   1,790 00
3,469 62
2  Sundries                To Bills Payable,  Issued pr. B.-B.              -
3  Dufour, Nephew & Co.,                                1st   2,806 83
2,806 83'C                                             "     2,806 84
CC{^~~~~ ~10th                             652 36
(Entry continued)    9,072 86
236




JOURNAL, FORM 3.                                               3
New Orleans, November 30th, 1852.
L.F.
Sundries                 To Bills Payable, (continued)        9,072 86
Dufour3 Nephew & Co.,                                  16th     422 10
"                                                23d      210 28
30th     165 75    9,87099
3   Margot & Haines,                                        5th     492 50
"c                                               29th     91035     1,40I' c5
4   E. B. Bolton,                                             i                 712 00' 30th _______________ 11,985 84
1  Sundries                 To Merchandise,        Sales pr. S.-B.
5  Ferree & Brother,                                        1st     679 50
"                                                 8th      75 00
"t                                               22d       45l47      799 97
4   Durbin, Payson & Co.,                                   2d                  562150
3  Dolbear & Reikert,                                               11275 
"ucc~~~ ~4th                                  131 10     24385
5  Willard Brady & Co.,                                     3d                  102 97
4   Samuel Tillotson,                                       5th     701 55
cc                                               27th   1,215 00    12916155
5  Morris L. Halsey,          (Sundry Debtors)             6th                    3 75
5  Mrs. Mary Green,              "                         9th                    7 81
5  Decoursey & Wise,                                       11th                 25965
5  William P. Lewis,          (Sundry Debtors)            15th                   12 00
5  Julius & George Lee,                                   18th    1,196 00
"                                                25th     59400     1,790 00
5  Benjamin Loper & Co.,                                  30th                  600 00
____________  _                              6,299105
2  Interest                 To Sundries,
1       To Edwin M. Lafourcade, On Capital to Dec. 1st              118 14
1       " Louis P. Lafourcade, "     "   I"  " "                     23 92
1       " Chas. Boutelier, Jun., ",,    ",                      25 00     167 06
TRIAL    BALANCE, LEGER, FORM           3.  Nov. 30th, 1852.
Dr.      Cr.
L.F.
3 Dolbear & Reikert  --—.              21885             This Trial Balance, it will be seen,
4 Samuel Tillotson -.. —.               916 55i                    i     ir
5 Ferree & Brother..           4547          is made out i a different manner
5 Sundry Debtors.. —             -     15 75         from the preceding ones. It is so
5 Benjamin Loper & Co.  -..600 00                     done to show how personal accounts,
Personal cd having balances due firm  1,796162    which in real business are almost
3 Joseph Ralston.25 00 always numerous, may be brought
3 Webster & Shaw. -.                          1,899 14  within a sufficiently small space, so
3 Bouvier Brothers..        450 78  that Balance Sheets and similar ex4 Lewis Davis & Co.                            2,133 90
4 Jones & Riggs..                            1,840 00  hibits can be easily made.
4 Brainerd & Son  ----                         1,445 80   The third division, commencing
Personal 6cs having balances firm owe     7,794 62  with the partners' names, is all that
1 Edwin M. Lafourcade.....        23,'746 48  will be required in making out a
1 Louis P. Lafourcade.-                       4,523 92  Balance Sheet. See next page.
1 Charles Boutelier, Jun..                    5,025 00
1 Cash....10,787 02
1 Merchandise -..                  34,286 36
2 Bills Receivable - -  -              2.508 45          In closing this Leger, the Mer2 Bills Payable  -    -  -,                    8,68650  chandise remaining unsold, as pr. In2 Interest.119 57
2 Expenses.                         278150         ventory, may be called $36,637.11.
Personal /d due firm.             1,796 62                 _
Personal %d firm owe -                       7,94 62
_49,776 52 49.776 52  The Leger is given in the Key
237




BALANCE SHEET, LEGElR, FORAM 3.
New Orleans,           Face of Leger.  Profit & Loss.  E. M. Lafourcade.  L. P. Lafourcade.  Chas. Boutelier, Jun.  Balance.
~December 1st, 1852,  Dr.  Cr.    Dr.     Cr.     Dr.    Cr.     Dr.     Cr.     Dr.     Cr.     Dr.    Cr.
E. M. Lafourcade...    23,74648.... 23,74648
L. P. Lafourcade.....   4,5234,52 92
Chas. Boutelier, Jun.     ~1          5                                                             5,025 00
Cash....                    10,787 02........10,78702
Merchandise....  1 34,286136 36637H        2,35075            36,633711
Bills Receivable.       2,50845........       b 45
Bills Payable.8,686 2                     5. 86                                                                    8,686 50
Interest..2              119 57...      11957
Expenses..2               278 50..       27850
Personal  due firm            1,796 62.....................1,796 62
Personal %.j firm owe                 7,794 62                                                                      7,794 62
49,776 52 49,776 52
To E. M. Lafourcade,  ~ Net Gains  97 6 34.976 34
" Louis P. Lafourcade, j  "< "  48 8 1 7.                            488 17
". Chas. Boutelier, Jun., j  "  "  48 8 17.488 17
~~~~~~~~00   ~~~~2,350 75 2,350 75
Net Capital 24,72282 _____
24,722 82 24,722 82
Net Capital 5,01209 ______
5,012 09 5,012 09
Net Capital 5,5131
5,513171 5,51317   _
Total Assets and Liabilities  51,729 20 16,481 12
E. Al. Lafourcade's Net Capital  2 4,7221 82
L. P. Lafourcade's ". "          5,01209
C. Boutelier, Jun.'s "  "  I5,51317
51,729 20 51,729 20




PRINGLE & FIELD.
PRACTICAL FORM, NO. 4.
POSTING DIRECT FROM VARIOUS BOOKS OF ORIGINAL
ENTRY.
289




EXPLANATORY REMARKS, FORM 4.
This Form is intended for wholesale, jobbing, importing, or manufacturing houses, and will be found a labor
saving and accurate method of keeping their accounts.
The books of original entry are Day-Book, Cash-Book, Expense-Cash-Book, Sales-Book, and Bill-Book.
No Journal is used, and posts are made directly from each of the books of original entry, except the Expense-Cash-Book. The books are so arranged that entries to the accounts of individuals may be posted
daily, while most of the property and profit and loss accounts, which require numerous entries, are posted
monthly, or at other stated periods.
A particular description follows each book given, except the description of the Sales-Book, which will be
seen below.
Sufficient illustrations of Letter-Book, Check-Book, Time-Book, or other auxiliaries needed, have been
given in the preceding portions of the work.
DIRECTIONS FOR WRITING UP.
You will find it of great advantage to write up this Form, which should be done in the following order, in the
blank books which have been prepared for the purpose.
On the first day of the month by examining you will find one entry in the Day-Book, and two in the Cash-Book,
which you will enter in the same manner in your Day-Book and Cash-Book-leaving the Leger folio columns blank,
to be filled when you post. Next examine the different books of original entry, to see what transactions occur on
the second day, and enter the same in your books. After completing them, proceed with the third day in like
manner. And so on with each succeeding date, recording, in the proper books, all transactions that take place on
any particular day, before making any entry of the day following it. This will give an idea of the exact process
of entry in the counting-house.
After writing up the month's business, post from the several books to the Leger in the same order as above
described, that is, in order of date. To distinguish to which book of original entry the folio in the Leger refers,
all posts (except monthly total postings to the property accounts) should be entered as follows, viz., those from
the Cash-Book, "To" or "By Cash;" from the Sales-Book, "To Sales;" from the Bill-Book, " To Bills
Pay." or " By Bills Rec.;" and those from the Day-Book should be marked "D.-B." before the folio.
In opening the accounts in this Leger, you may observe the usual counting-house arrangement of them, which
is to open the accounts of partners, property accounts, and all the general business accounts, in the first part of
the Leger, by themselves; and let all the personal accounts follow them. This renders convenient the taking
of T'rial Balances, and other exhibits from the Leger.
Y'r Be particular and make your own additions, extensions and other calculations, wherever they occur in any
of the books.
SALES-BOOK.
This book is a record in detail of all sales, cash and credit. We have supposed the credit sales to be all at
six months, and have therefore not mentioned the time, which should be done if sales are made at different
terms of credit. Posts may be made daily, or at convenience, to the debit of the parties purchasing.
The sales for cash, as entered in this book for any given day, must be summed up at night, on a slip of paper,
and entered in total in the Cash-Book as " Cash Sales, This day," which total must also agree (in business)
with the actual amount of cash received for sales during the day. These " Cash Sales" must then be marked
" C.-B." in the Sales-Book, to indicate they are transferred to the Cash-Book, and " S.-B." in the Cash-Book,
to show they come from the Sales-Book; and must receive no debit post from this book. They should be
summed up, however, in the amount taken forward from page to page, and posted in total with the other sales,
at the close of the month, to the credit of merchandise. Thus the credit post from this book exceeds the several
debit posts by the amount sold for cash during the month. But this is offset, and an equilibrium produced by
the postings from the Cash-Book, where the monthly debit post to cash exceeds the several credits by just the
same amount.
If a credit sale be paid before it has been posted, it can be noted in the margin as paid on such a date, marked
"C.-B.," and entered in the Cash-Book as" Cash Sales."-See entry of 4th inst.
When a sale is made for cash, the entry can be brought through the account of the individual on Leger, if
preferred, as in case of S. C. Atkinson, 24th inst. Sales for notes must be debited the individual to whom sold
in this book, and the note credited to his account in the Bill-Book.
Houses of extensive business frequently have two Sales-Books, called odd and even Sales-Books, which are
alternately used on the days indicated by their titles. The object of this is to give the book-keeper an opportunity to post up the books.
Note. It is the practice with many jobbing houses to take notes of all their customers. Many of these notes are not nego
tiable, but are taken merely as evidence of debt. For them a separate Bill-Book is kept, and they are not posted to the
account of Bills Rec. in the Leger, but the sale remains to the debit of the individual as if he had given no note, and when
any payments are made, they are passed to the credit of his account, being endorsed on the note as usual.
240




DAY-BOOK, FORM 4.                                                           1
Philadelphia, January 1st, 1853.
I L.F.
1    Merchandise      To Sundries,
1          To J. S. Pringle,                             Invested pr. Invoice,  56515
1            " R. N. Field,                                   "       "        436124    1,001 39
^~~~2 ---------- ~13th
- Interest   To Laflin and Stephens,
4               For Int. on H1. C. Corbit's Note, No. 3, Rec'd of them this day, as pr. 
B.-B., in part for Sales pr. S.-B.                                           483
18th
2    H. C. Corbit     To Sundries,
1          To Bills Receivable,                           For No. 3, now due,  500 00
2            " Interest,                                  On the above,           5 25'    505 25
20th
5    Sundries     To Brown, Shipley & Co.
5    Leaf & Morrison, Manchester,         For their Draft on B.. S. & Co., Liverpool, ill payment for Mdse., as pr. invoice of Jan. 2d, rec'd this day,
Amt. ~606, 13s. 8d. (@ 4 mos.)                                 2,696 37
1   Merchandise,                          B., S. & Co.'s Corn.  12  9 2 0
Shipping Charges at Liverpool,...                 2 4
Int. on Coin. and Charges, 3 mos.....     3 1
~10 7s. 5d.     46 09   2,742 46
31st -- -- -
2    Expenses      To Sundries,
3          To P. C. Mortley,                              One month's wages,     60 00
6           " Sam'l Bartlett,                                   "                30 0)     90 0
I    Merchandise      To Sundries.
Purchases this month, as pr. Invoices and Cash-Book.
2           To Henry C. Corbit,            Part Cash, Bal. Note, @ 3 mos., 2d.  11,245 65
"     Do.     Do.              @ 3 mos.,                   13tlh.  543 301 11,788 95
4            " See, Brother & Co.,         Note ( 4 mos.,               6th.  1,545,25
Do.            Do.            Cash,                      25th.    850100   2,395 25
5            ( Leaf & Morrison,            Manchester,                 20th. I
Invoice of Jan. 2d, pr. " Thomas P. Cope," ~606, 13s. 8d.                 2,696 37
5            " Downer & Stewart,           New York-Draft,             21st.             1,341 5)
6            " C. W. Churchman,            @ 4 mos.,                   27t.ll            2,563 75
6            " S. B. Rawley,               Note ( 3 mos.,              29th.             1,260 75
C.-B.         " Cash Purchases,              Walsh & Co.,                 3d.    225 00
C.-B.,     c  Do.     Do.                Walsh & Co.,                11th.     53 34
C.-B.             Do.     Do.                A. Clark,                   13th.   545 50
C.-B.."  Do.     Do.                Walsh & Co.,                15th.   454 25
C.-B.         "   Do.     Do.                Duties pr. "Cope,"          20th.   82526
C.-B.         "   Do.     Do.                A. Clark,                   25th.    150 25
C.-B.         "Do.        Do.               Walters & Co.,                "       125 50
C.-B.         "   Do.     Do.       Exch. on Note No. 3, for goods pr. "Cope," 27th.  246 82  2,625 92
I___________                         l__ l________ ______  I24,672 49'he Day-Book is used for recording such transactions as cannot properly be entered in either of the other
l-ooks of original entry. Its form is simple, and will be readily comprehended by those who have familiarized
themselves with previous portions of the work.
At the close of the month, it is also made the receptacle of purchases, which are treated as follows. The
receiving clerk examines the Invoice as the goods are received, and if he finds it correct,marks it"Ex'd,"signing
his initials to show who is responsible for its correctness. This being done, it is placed on file, or pasted ill a
blank book prepared for the purpose, called an Invoice-Book.
Purchases ona time are supposed to be entered in the Day-Book from the original invoices, either as filed or pre.
served in the Invoice-Book, taking care to collect together all purchases from the same person, that one post
only need be made to each individual's account for the month.
" Cash Purchases" are taken from the Cash-Book, where they have been previously entered at the date of the
occurrence of the transaction. They will be found in the Cash-Book, marked "D.-B." by looking along the
Leger folio column. They must be marked " C.-B." in the Day-Book, and no other post made of them. save
the debit in total to Merchandise.
2F                                   241




~1                    CASH-BOOK, FORM 4.
Dr.                                          Cash.
Date.  L. F.                                                             Int. Cr.  B. Rec. Cr.  Cash Dr.
1853.
Jan. 1   1   To J. S. Pringle,              Amt. invested,..                                   8,000;00
1      1    " R. N. Field,..................                      8,000 00
2 S.-B." Cash Sales,                     This day,.......................                        28 00
"  3S.-B. " Do. Do................                                1625
16,044225
6S.-B. "Cash Sales,                    This day,........................                      171'65, 7    3    " S. C. Atkinson,             Rec'd on.....................                        40000
"   7 S.-B. " Cash Sales,                 Rec'd of P. G. Collins & Co. for 
Sales made them 4th inst., less Dis. pr. contra,                            119 00
9S.-B. " Cash Sales,                   This day,....................                         639 35
"   9 v/    "Interest,                    Dis. on Bills Pay. No. 2, pr. contra,  30 90            30 90, 10S.-B. " Cash Sales,                   This day,.......................                        14 00
11     4   " Burgess & Walker,           In part for Sales, pr. S.-B.,....                      100 00
" 11    /     Bills Receivable,           In full for Elliot & Burnap's Note,
No. 1, due July 5th, less Dis. pr. contra,.........601 28                  60128
18,12043
" 14 S.-B. " Cash Sales,                  This day,........................310 75
"' 151S.-B. "c Do. Do.'       c cc........................                          900
15 S.-B."    Do. Do.                     "                s                                      900
" 161S.-B. " Do. Do.....................                            65100
" 17   4    " Burgess & Walker,           In full for Bal. of % due pr. Ave- 
rage, Mar. 29th, 1854.*.....................................                7124
* 18 S.-B. " Cash Sales,                  This day,.....................                        25725
18,833|67;' 20  4    " T. W. Lakeman & Co.         On %.....................                                 00; 20   4    " Turner, Wheelwright & Co. Rec'd pr. mail on.........0000
" 21 S.-B.    Cash Sales,                 This day,.................                             150 63
4' 23 S.-B. "  Do. Do................37 12
"' 24   3   " S. C. Atkinson,             Rec'd foi Sales pr. S.-B............                  53629
25    V/   " Interest,                   Discount on Bill of See, Bro. & Co.,
as pr. contra,...................................... 25 50                 25150
19,933 21
"s 27   /   " Interest,                   Discount on Bills Pay. No. ---
Am't as pr. Contra, including Exch., $2,989.28-from April
14th (time when our Pay't is considered Cash in England) to
May 5th, (when Leaf & Morrison's Draft on Brown, Shipley
&  Co. matures,)...........................................  10  46         10  46
" 27   5    " Cushing & Brother,          In full for % due July 20th,.....                     11710
" 27 S.-B. " Cash Sales,                  This day,.......................                       244 50
" 28 ~/       Bills Receivable,           Rec'd pr. mail on Miles & Ransford's Note, No. 4,......................................      400 000
" 29 S.-B. " Cash Sales,                  This day,.....................                      1,036 44
" 30   4    " T. W. Lakeman & Co.,        In full for Bal. of their %/, due pr.
Average, Oct. 21st,*...................                                     91 50
31 S.-B. " Cash Sales,                   This day,........................                       40 20
2                                  Interest Credits this month,    66 86        _ _
1                                  Bills Rec. "     "     "                 1,001 28
1                                  Cash Debits      "     "                            21,878 41
Feb. 1       To Balance                     Bro't down......................                   4,61405
* In these averages grace is added to the sale, but not to the Cash payment
242




CASH-BOOK, FORM 4. 
Cash.                                           Cr.
Date.  L. F.                                                             Int. Dr.  B. Pay. Dr.  Cash Cr.
1853.                                                                                      _
[an. 2   2  By Henry C. Corbit,            Paid in part for Purchases,.                         7,500 00
"   3 D.-B.I ( Cash Purchases,             Walsh & Co.,                                          225 00
4,  4   /      Expenses,                   Paid pr. Exp. C.-B. this week,.                        28 63
In Bank,     8,275.50} 8,29062                      7,753 63
In Safe,       15.12 
"   7   3     P. C. Mortley,              On,.....................                        12 00
t   7       "/ Interest,                  Discount 5  on P. G. Collins & Co.'s
Bill of 4th, as pr. contra,................................  5 95           5 95
9"  9   /   " Bills Payable,              In full for our Note No. 2, favor
See, Brother & Co., due May 9th, less Discount pr. contra,.  1,545 25   1,545 25
" 11 D.-B." Cash Purchases,               Walsh & Co.,....................                       53 34
" 11   /   " Interest,                   Discount on Bills Rec. No. 1, pr.
contra,*..................................................  17  54         17  54
"11    /   "Expenses,                     Paid pr. Exp. C.-B. this week,. -..                    36 50
In Bank,     8,642.01 8,696.22                      942421
In Safe,       54.21
" 13 D.-B. " Cash Purchases,              A. Clark,........................                      545 50
" 14    1   "J. S. Pringle,               On,................17500
" 15 D.-B. " Cash Purchases,              Walsh & Co.,....                                       454 25' 16    3   " P. C. Mortley,              On,.........................                         2500
"' 17   /   "Interest,                    Discount on B. & W.'s %, as pr.,       contra,...................................... 5 12                    5 12
18    /   " Expenses,                    Paid pr. Exp. C.-B. this week,.....                   33 25
In Bank,     8,110.50 8,17134                       0,66233
In Safe,       60.84                               1       33
4 20 D.-B." Cash Purchases,               Paid Duties, $805.70, and Freight,
$19.56 on Mdse., pr. ship "T. P. Cope," from Liverpool,......              825 26
"< 21   5   " Downer & Stewart,           Sent them this day, Benson & Co.'s
Draft on Bicknell & Co., New York,.........................              1,341 50
"' 21   /   "Interest,                    Paid  % Prem. on above Draft,    168                       68
"t 25 D.-B. " Cash Purchases,              A. Clark,.......................                     150125
4< 25 D.-B.    Do.     Do.                 Walters & Co.,................12550
"( 25   4   " See, Brother & Co.          Paid in full for Purchases this day,
they allowing 3% Discount,..                                                850 00
" 25    /      Expenses,                  Paid pr. Exp. C.-B. this week,.                        54 62
In Bank,     5,886.21 5,92207                      14,011 14
In Safe,       35.86 
" 27    /   " Bills Payable,              In full for our Note No. 3, favor
Brown & Bowen, due April 5th, ~617, 1s. d.,...............   2,742 46    2,74246'" 27 D.-B. " Cash Purchases,             Exchange @ 9% Prem. on above
Note,..................................................                  246 82
Note,....~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~  ~                         246]82
"1 27   6   " Samuel Bartlett,             On %,                                                  16 50
As 27 a     "/ Interest,                  Discount on C. & B.'s %, pr. contra,  3 40               340;' 29   1   " R. N. Field,                On,..................9545
" 30    / V' Interest,                   Discount on T. W. L. & Co.'s %, pr.
contra,.................................................   4   03            4   03
"81    /   " Expenses,                    Paid pr. Exp. C.-B. this week,....                    13956
2                                  Expenses this month, pr. Exp.
C.-B. $292.56,..
2                                  Interest Debits this month,    37 72
2                                  Bills Pay. "    "                     1 4,287 71
1                                  Cash Credits    "     "                            17,259136
" 81       By Balance,                    In Bank, $4,517.70, In Safe, $96.35.                 4,614 05
_'_____ __._  21,873 41
* In calculating Int. and Dis. in Forms 4 and 6, the time is reckonad in days.
243




1            EXPENSE-CASH-BOOK, FORM 4.
Philadelphia, January 2d, 1853.
1853.
Jan. 2 Paid Store Fixtures,...G.Sims,                                        25 00
"    4 " 1 Ream Paper,...                                               J. Elliot,      213
" I Drayman,..........                                                                 150 28 63
it 10 " Stove Bill,. Simpson,                                                         25100
I,c " Labor,...... E. Patrick,                                            1150
11       "  Advertising,.....                            U. S. Gazette,  10 00    36 50
"    13 ", 2 Reams Letter Paper,....... J.Elliot,                                       500
"    17 " Stationery Bill,......                                              10 50, "       "  1 Ton Coal,. Peterson,         450
s 18     ", Painting,....                            Thomas,         13 25    33 25
" 20 " Gas Light Bill,.....                                             21 25
"    21  C"  Freight pr.  Ocean," from N. Y...                                   312
"    23,,   Carpentering,...... G. Sim,                        1250
cc        " Sundry Bills for Labor,.....11.25,, "( McCleary's Bill for Drayage,.......           6    54 62
" 27 "C Circulars,....S. Gazette,                                         5 00
C    31 " Postage, pr. Postage-Book,.....                                               7 56
cc,c Rent of Store to Feb. 1st,.....                                     80 00,,a      " John Thomas for wages,..                                          20 00,,,      "  Peter Baker     ".     15 00,,, "  S. C. Martin   "    "......                 12 00   139 56
Ent'd on Cash-Book, folio 1,........                 5
CASH-BOOK.
In this Book are entered, either directly or through the medium of the Sales-Book and the Expense-CashBook, all cash transactions. In posting from it, all entries on the debit side (except the total Cash debit) are
posted to the credit of the different accounts affected, and vice versa.
In order to save posts, two additional columns have been introduced on each side of the Cash-Book. On the
debit side, one column is for Interest credits and one for Bills Receivable credits.  On the credit side one is for
Interest debits and one for Bills Payable debits. A glance at the book will show that entries, affecting either of
these accounts for which separate columns are introduced, have their amounts extended into two columns-the
cash column and one other. No posts are made daily to Interest, Bills Rec., Bills Pay. or Cash, but the amounts
extended to each of these accounts must be carried forward in the columns provided for them, and posted in
total at the close of the month. Items to the debit of Expenses, as brought in weekly from the Expense-CashBook, for the balancing of the Cash account, may also be passed over in posting, and the total expenses, as
shown by the footing of the outer column of the Expense-Cash-Book, may be entered in the margin of this
Book at the close of the month, for the purpose of posting.
"Cash-Sales," as explained in remarks on the Sales-Book, are marked "S.-B.," and receive no post except in
monthly total to the debit of Cash.
When Cash is paid out for goods bought-or for duties, exchange, freight, &c., where these items of expense
are properly a part of the cost of purchase-the entry must be made " By Cash Purchases," in this book, and
marked " D.-B." At the close of the month, these must be written up in the Day-Book with other purchases, and
marked "C.-B." to show they are taken from the Cash-Book. No post is made to the debit or credit of " Cash
Purchases," but an equilibrium is produced by including the amount in the monthly debit post to Mdse. from
the Day-Book, and in the monthly credit post to Cash from the Cash-Book; the process being precisely similar
to that described in the treatment of " Cash-Sales."
Purchases for cash may, if preferred, be brought through the account of the individual in the Leger. See Ent. to
See, Bro. & Co., 25th inst.
Once a week, or as often as it is wished to make trial of the correctness of the Cash account, after bringing in
the amount from the Expense-Cash-Book, the debit and credit cash columns may be footed up, and then the
amount of cash in bank (as shown by the Check-Book) and the amount in safe may be placed a little to the
left of the credit footing, and if their sum be equal to the difference of the cash columns, it proves the account
correct. The entries may then be continued on without closing the book till the end of the month.
When a Bal. of Cash on hand is brought down from a preceding month, this balance must be deducted from
the footing of the debit column, to obtain the right amount for posting to the debit of Cash. This may be done
in the margin.
Note. In this Form no Bank account is kept in the Leger. Deposits in Bank are treated as Cash.
EXPENSE-CASH-BOOK.
This needs no explanation. It is a small book of expenses kept after the formula shown, and having its foot
ings taken to the Cash-Book as often as desirable.
244




SALES-BOOK, FORM 4.                                                              1
Philadelphia, January           2d, 1853.
L. F.                                                                                            -
3    N. L. Lippincott & Co.                    132             Second St.
129'
5 Ps. Italian Lustring             1281 648 Braces, 405 Yds. ) 80              324 00
127
1311
2d
C.-B. Cash Sales,                                                 J. Milton.
1 Doz. Cashmere Scarfs                                                           28 00
3     Elliot & Burnap,             (Note pr. B.-B.)            Walnut St.
5 Ps. Cashmere d'Ecose                  98 Aunes, 122% Yds. ( 60     73 50
8 " Mouseline de Laine                 195   "   2432  "    50      121 88
6 " Super Gros d'Afric                 396   "   495   "     82     405 90     601 28
3d 
C.-B. Cash Sales,                                                 F. Bates.
1 Doz. Ladies' Kid Gloves                                                         7 25
3     Samuel C. Atkinson,                                     Chestnut St.
2's. Col'd Gros de Levant              118 Aunes, 147a Yds. < 90   132 75
10 " Blk. Alpacca                                320   "     471    152 00
20 " Col'd Do.                                   610   "     45     274 50
6 " Olive French Merino                200 Aunes, 250  "     75     187150
6 " Blk. Paris Crape                              72   "     40 (    28180      775 55
C.-B.  Cash Sales,                                                 F. Bates.
1 Light Silk Shawl                                                                9 00
4th
C.-B. P. G. Collins & Co.,                                       Market St.
8 Ps. Fig'd Alpacca                                    248 Yds. (i) 30    74 40
2 " Plaid   Do.                                    60 "      41      24 60
4 Barege Shawls                                                 5,00      20 00      11900
6th 
C.-B. Cash Sales,                                                 S. Burke.
12 Ps. Irish Linen                                144 Yds. () 80    115 20
4  " Mull Muslin                                   48 "      30      14 40      129 60
3     Jos. Roberts & Co.,           (Note pr. B.-B.)          Harrisburg.
5 Ps. White Paris Crape                            60 Yds. ) 45      27 00
8 " Blue    Do.  Do.                               96 "      50      48 00
10 " Super Balzarine                              555 "      55     305 25
20 " Barege                                        885 "     37S    331 88      712 13
~c
C.-B. Cash Sales,                                                 R. Bacon.
1 Ps. Blk. French Merino                 42 Aunes, 52" Yds. ~ 72                 37180
C.-B. Cash Sales,                                                 J. Myers.
1 Doz. Elastic Mitts                                                              4 25
8th
4     Turner, Wheelwright & Co.                                 Pittsburg.
10 Light Silk Shawls                                   a< 10,00     100 00
14 Barege    Do.                                           4,50      63 00
16 Cashmere Do.                                            7,50     120M00
10 Brochea  Do.                                           12,00     120100
12 Embroidered Thibet Shawls                              10,50     126 00
8 Plain         Do.   Do.                                  7,50      60 00
6  Do.         Do.    Do. wool fringe                      4,00      24 00
7 Do. Blk.     Do.    Do. "     "                          3,75      2625       63925
Am't forward                |     3,38711
245




2                        SALES-BOOK, FORM 4.
Philadelphia, January          9th, 1853.
L. F.  -i                                                                                   ^3 7[1.
C.-B. Cash Sales,                                             Bryan & Co.                      1
8 Brochea Shawls                                       G 10,00      80 00
16 Embroidered Thibet Shawls                              9,00     144 001    224 00
-      9th  -                                        ~
C.-B. Cash Sales,                                          Turner & Bates.
30 Ps. Assorted Alpacca                          923 Yds. @ 45                415 35
10thC.-B. Cash Sales,                                              T. Walker.
1 Ps. Linen Cambric                                                            14 00
11th
4    Burgess &Walker,                                         Lancaster.
4's. Swiss Muslin                               48 Yds.      [ 38  18 24
10" Jaconet Do.                                  120 "              48 00
10" French Lawn                                   300 "    35      10500      171 24
13th        ----                              -
4     Laflin & Stephens      (Corbit's Note in part pr. B.-B.)  Cincinnati.
20 Ps. Col'd. Florence              1482 Aunes. 1852' Yds. ( 32    592 80
50 " Assorted Persians               1650 Braces, 10311 "   20     206 25     799 05
4     T. W. Lakeman & Co.                                      Spruce St.
12 Cashmere Scarfs                                      0 2.50      30 00
20 Barege    Do.                                          2,00      40 00
6 Doz. Prs. Black Kid Gloves                              7,25      43 50
4   "   " Light Do. Do.                                   7,00      28 00     141 50
14th
C.-B. Cash Sales,
5 Ps. Black Lustring                  578 Braces, 361' Yds. () 80             289 00
C.-B. Cash Sales,                                               S. Burton.
3 Ps. Bandana H'dk'fs.                                  (5 7,25                21 75
15th(-72              -
C.-B. Cash Sales,
2 Doz. Prs. Light Net Gloves                                                    9 00
16thC.-B. Cash Sales,                                              G. Murray.
1 Ps. Blk. French Satin                 52 Aunes, 65 Yds. 8) 1,00              65 00
17th
5    Cushing & Brother,                                      Chestnut St.
6 Ps. Linen Cambric                              72 Yds. ) 1,30     93 60
4 Doz. Prs. I Fing'd Mitts                                3,75      150(
2 "    " Elastic  Do.                                     4,25       850      117 10
18th
C.-B. Cash Sales,                                                S. Evans.
3 Ps. Poult de Soie                    180 Aunes, 225 Yds. ( 75               168 75
C.-B. Cash Sales,                                              Clark & Co.
6 Ps. Pongee H'dk'fs.                                  0( 3,50      2100
1    Blk. Silk Velvet                  18 Aunes, 22' Yds. () 3,00   67,50      88'50
20th
5    Miles & Ransford,              (Note pr. B.-B.)        Columbus, O.
10 Ps. Shusan                                    330 Yds. () 20     66 00
10 " Crape de Laine                    270 Aunes, 337 "    28       94 50
6  " Green French Merino               236   "   295  "    65      191 75
5  " Drab    Do.   Do.                 176   "   220 "      72'    159 50
5  " Blk. English  Do.                 164   "   205  "    50      102 50     61425
Am't forward                |    6,525,60
246




SALES-BOOK, FORM 4.                                                         3
Philadelphia, Jcanuary 21st, 1853.
L. ~ ~P.                                                                -             6,525j60
C.-B. Cash Sales,                                            T. Walker.
3 Ps. Fig'd Gros de Nap.                       189 Yds. () 67   126 63
1 Doz. Barege Scarfs                                             2400      150 63
22d
5    Wm. Chapman,               (Note pr. B.-B.             Canton, O.
2 Ps. Col'd Poult de Sole            124 Aunes, 155 Yds. ( 75   116 25
15 " Pongee H'dkfs.                                     3,50     52 50
10" Choppas Do.                                         6,00     60 00     228 75
23d
C.-B. Cash Sales,
4 Ps. Crape de Laine                114' Aunes, 1423 Yds. () 26             37 12
24th
3    Samuel C. Atkinson,                                  Chestnut St.
4 Ps. Blk. Satin Vesting           112' Metres, 121a Yds. 3 2,75  334 12
4 " Fig'd Gros de Nap.             256 Aunes, 320        72     230 40
564 52
Discounted 5 %for cash             28 23     536 29
--  27th
C.-B. Cash Sales,                                          L. M. Oviatt.
4 Ps. Col'd Marcelline                240 Aunes, 300 Yds. (a 48  144 00
3 " Blk. Bombazine                     62  "    77' "   1,00     77 50     221 50
C.-B. Cash Sales,                                            B. Wesley.
4 Ps. Blk. Crape                                                            23 00
28th
3    N. L. Lippincott & Co.,                                Second St.
3 Ps. Blk. Silk Velvet                56 Aunes, 70 Yds. 0 3,15  220 50
2   "     " Serge                    204  "   255       100     255 00     475 50
29th
C.-B. Cash Sales,                                               E. Ely.
3 Ps. German Merino                           133~ Yds. ( 80    107 00
4 " Col'd Fig'd Gros de Levant       248 Aunes, 310  "  1,00    310 00
7        M "  Iarcelline                      576  "     44     253 44     670 44
6    Aiken & Ransford,                                     Seventh St.
2 Ps. Blk. French Satin              112 Aunes, 140 Yds. (2 1,10           15400
C.-B. Cash Sales,                                          Binney & Co.
6 Ps. Col'd Fig'd Alpacca                      165 Yds. ( 40     66 00
1 "       Gros de Levant               60 Aunes, 75 "   1,00     75&00     141 00
C.-B. Cash Sales,                                              J. Emm.
5 Ps. Blk. Silk Vesting              90 Aunes, 112' Yds. ( 2,00            225 00
31st
6    Welty & Martin,                                         Broad St.
Doz. 5.  5.   5.
15 Doz. BIk. Italian Cravats            @ $12,   15,  18,       225 00
2 lbs. Blue Bll. Italian Sewings                     (0 $12      24100     24900
C.-B. Cash Sales, 
6 Thibet Shawls                                      ( 6,70                 4020
|1                     Total month's Sales posted to Credit of Mdse.            I   9,678i03
247




~1               BILL-BOOK, FORM 4.
Bills
No   1e So Wh To Credit of whom.;  Drawer.        In whose favor.  For what rec'd.
Note.l Ree'd.M                                                                    Note.
1853.                                                                       1853. S
1 Jan. 2 Elliot & Burnap  3 Elliot & Burnap      Ourselves       Mdse.        Jan. 2
2       6 J. Roberts & Co. 3 Ourselves on J. R. & Co. Ourselves     c          9    6
1852.
3      13 Lafiin & Stephens: 4 H. C. Corbit      Laflin & Stephens            Nov. 116
4   "  20 Miles & Ransford 5 Miles and Ransford  Ourselves                     an. 20
5   (A 22 Wm. Chapman     5 Wm. Chapman          Ourselves        2" 22
1  Debit total Bills Rec'd this month. 
Bills
NoofsWhen  To Debit of whom.   Drawer.        In whose favor.  For what gives.  Dsteo
Note. Issued.                                                                     Note.
1853.
1 Jan. 2 H. C. Corbit     2 Ourselves           H. C. Corbit    Mdse.         Jan. 2
2   "   6 See, Bro. & Co.  4 Ourselves          See, Bro. & Co.   "            (    6
3   "  20 Brown,Shipley & 5 Brown, Shipley & Co. Brown & Bowen Account of           2
Co., Liverpool    on ourselves                      B. Shipley & Co.
4   "c 29 S. B. Rawley    6 Ourselves           S. B. Rawley    Mdse.              29
2 Credit total Bills Issued this month. 
BILL-BOOK.
A moment's inspection will show that the entries in this book extend across two opposite pages, which
together constitute but one page, or folio, of the Bill-Book. When the note to be entered is an accepted
draft, both the drawer and drawee may be mentioned in the column headed " Drawer," as in Bills Rec
entry of 6th inst., and Bil s Pay. of 20th inst.
Bills Rec. are entered in the Bill-Book at the time of their reception. They are posted to the credit
of individuals daily, or at convenience, and to the debit of Bills Receivable account in monthly totals.
Bills Pay. are entered in the Bill-Book when issued. They are posted to the debit of individuals daily,
and to the credit of Bills Payable account in monthly totals.
Bills Payable and Bills Receivable usually occupy opposite ends of the same book.
REMARKS ON THE PRIVATE LEGER.
Louses frequently find it desirable to keep from public observation the amount of their
capital and by whom invested, their gains and losses in business, &c. For this purpose
so:ae have a Private Leger, in which they keep the partners' accounts, Merchandise, Profit
and Loss, Interest, and such other gaining and losing accounts as they think proper, and sometimes, also, the accounts of the different clerks employed.
In connection with this Leger, a Private Day-Book is usually kept, in which entries on
opening the books, entries for interest on capital invested, for salaries, &c., are made.
Those who wish to make use of this Leger will find the plan of posting from the books of
original entry, pursued in Form 3, very convenient for so doing. Entries in any of the books
of original entry, (Private Day-Book included,) either to the debit or credit of accounts kept in
the Private Leger, must be posted to this Leger, and all other entries must be posted to their
proper accounts in the main Leger. Thus the two Legers contain the same matter usually
embraced in one, and may be considered as constituting strictly but one, although bound in two
covers; and Trial Balances, Balance Sheets, and other Leger exhibits, must contain the
accounts in both.
248




BILL-BOOK, FORM 4. 
Receivable.
When due.
Time.  Where due.  -   --- --- --     - ---  Amount.  Remarks.
6 mos. Philadelphia...... 5.       601 28 Discounted Jan. 1 Ith.
6 mos. Bank of N. America..... 9....  71213
Int. from date,
60 d's. Philadelphia  18......50000             Charged Corbit on the 18th.
6 mos.   "..... 23..614 25  Rec'd Jan. 28th, $400.
6 mos......  25....  228 75
2,656 41
Payable.
When due.
Time.  Where due.  f, —- Amount.               Remarks.
3 mos.Bank of N. America...  5......  3,745 65  Purchases $11,245 65
moe.. Ban of N. A aCash  7,500 00
4 mos. Philadelphia. ~.. | 9...   1,545 25  Discounted Jan. 9th.
3 mos. Philadelphia..  5.....  2,74246  ~617 Is. Id.
Discounted Jan. 27th.
3 mos. Philadelphia Bank...  2....  1,260 75............. ~19,29411
TRIAL BALANCE, LEGER, FOR)M 4.
8  N. L. Lippincott & Co....  799150 
3  S. C. Atkinson..         375 55
4 Turner, Wheelwright & Co..  339125          This Trial Balance is made
4 Laflin & Stephens..          294122         out in the same manner as th6
6  Aiken & Ransford....  15400         Trial Balance to Form 3, and
6  Welty & Martin...      249 00         for the reasons there given.
Personal dc having balances due firm  2,211 52
2 H. C. Corbit                           3805
3  P. C. Mortley                         23 00  In closing  this Legcr, the
6  Samuel Bartletty                      1      dse. 2remaining unsold, as pr.
6.Samuel Bartlett.._...            18 21 1  3,50 7  Inventory,  may  be  called
6  C. W. Churchman.....     1   2,563 75  $18,250.25.
Personal cd having balances firm owe  2,638 30
1  J.S. Pringle                        8,390 15
1 R. N. Field                          8,340 79  The Leger and Balance Sheet
1 Cash.....       4,61405          are given in the Key.
1 Merchandise.....      16,04194
1  Bills Receivable.....  1,15513
2  Bills Payable.                      5,006 40
2  Interest......              29156
2 Expenses...      382156
Personal %d due firm..     2,211152
Personal %4 firm owe...         2,638 30
24,405 20  24,405120
2 G                       249




PRACTICAL FORM, iNo. 5.
By matting a few changes in the preceding Form, (No. 4,) a Form may be obtained which will be found very convenient for houses doing a wholesale
and retail business, or for those engaged in extensive retail trade.
1st. In place of the Expense-Cash-Book, a Petty-Cash-Book, (or as some call it, a Cash-Sales-Book,) may be substituted, arranged after the formula
given below. The debit side of this book is ruled with two more money columns than there are hands employed in the store, and is a record of cash
sales. The credit side is used for entering the various expenses of the store. In houses of this kind, it is common to have a cashier, who sits at the
desk to make change. Each salesman or saleswoman is provided with paper and pencil, and whenever a sale is effected, memorandums it upon a slip
of paper, signing his or her initials. This, with the money received, is handed to the cashier, who sticks the paper upon a ile and returns the required
change. Each hand has his or her separate column in the Petty-Cash-Book, in which the cashier places at night the several sales effected during the
day, as taken from the slips of paper placed by him on file. In order to balance his cash account at night, the cashier can preserve a memorandum in
his drawer of the amount placed in it from the safe each morning for making change during the day.
The amount received for each day's sales may be taken from this book to the Cash-Book, and entered " Cash Sales, This day." The daily expenses,
as here shown, may also be transferred and entered " Expenses, This day." A check mark, as shown below, is the sign of this transfer. The total
columns may be footed and the amounts taken forward till fhe close of the month; when the debit total footing must be transferred to the Sales-Book,
saying " Cash Sales, This month, pr. Petty-Cash-Book." Thus the Sales-Book will show the entire sales, cash and credit, and an equilibrium will be
produced in the Leger, as explained in Form 4, without making any post to " Cash Sales."  The footing of the credit total column may be entered
monthly in the margin of the Cash-Book, for posting; the daily entries of "Expenses" in that book being checked and passed over in posting.
2d. When there are but few transactions in Notes, the Bill-Book may be used merely as a memorandum for reference, without posting from it. Bills
Rec. taken, and Bills Pay. issued, will then be entered in the Day-Book. The Bills columns in the Cash-Book may also be dispensed with, and separate
posts made for any entries occurring therein.
These will be the main changes requisite. The book-keeper can make such others as the particular business demands.
~IPETTY-GASH-BOOK.
Dr.                                     Cas. Itcash,                                                                          Cr.
Jeo. R. B.  Wm. S. T. Lucy W. L.  Mary S.  MargaretT. Betsy B.W.f Louisa C.C.  Alvira M. Recapitulation.  TOTALS.        Expense'.  TOTALS.
14'45   1 40     10     2; 50  6 98     372  25 00    4i60    24 15t                    ednesday, Jan. 1st, 1853..1 00    25     19     1 25   1 03    1 122    25     30     2951              Porterage,                                 -
56     38     675     1872    t 04  4 67            2 20    Irt 54           Stationery,....         50
226      96     122   3017     19     333            1872    1242              L Ton Coal,.....         0
06    4 52    1 37s  4622            45             5 00     8 24            Fixing Door Lock,....5
5 40   20 50  10 00                   1 20                   12 59             Advertising in Bulletin, -.          2 50
27     10                           1 05                    25 25                                                      10 12  V 10 12
15    1 40                    ___     39                    13 97  V 144 67  Bal. in Drawer,....          34 55
2415   2951    1854    1242    8 24  1259    2525    13 972                                                             14 67
125    2675   1325      14   1130     112'2   70     900                              Thursday, Tn. 2d7 183
5.16   1 11    4 622  11 40    75      60o    42    26 75    533                      T  rday, Jan. 2d, 1853.
112     46     25      76    9 90     45      33    1 20    84 9             New Desk,                     J. Ward,    10 00
71 62    0 I3   94     692     122    334    144             50 82            Fixtures to Gas Pipe,                      1 75
9!872  14 40  10 40   1420     622    7 72    67             42 432           Drayage..5
35   36 77   21 35   814      37s   4 872   320             44 60            Erratdbay.50
29'25   425              872  21 122  16,50    122            34 41       j    Advertising in N. American,.         ___   00
112'2                   40           133             10 742                                                      > 30  V/18 50
-_ __ __ __ __ ___ ___  __ __ j__       2 00          _36 95      3 58 69  Bal. in Drawer,.340 t9
53 631  84 892  50 812  4243s  44 60  34'6112  10 742  36,95                                                            35S 69




JAMES DUNLAP & CO.
PRACTICAL FORM,
No. 6.
THE main features of this form  are taken from the practice of one of the largest
commission houses in the city of Philadelphia.
Great care has been bestowed upon its arrangement, to make it acceptable and useful
to those for whom it is particularly intended, and it is confidently believed thatt commission and company speculating houses will find it better adapted in its general arrangement, and more accurate in detail, for their business, than any thing before in print.
A mode of connecting wholesale merchandising with commission operations, is also
illustrated, by which Sales for account of Merchandise are treated the same as Sales for
account of a Consignor.
A particular description of each book will be found immediately following it.
Posts are made from the Cash-Book, Sales-Book, and Journal.
DIRECTIONS FOR WRITING UP.
Blank books have been prepared for this Form also.
In writing up this Form, first take the Cash-Book, Sales-Book, Journal, ReceivingBook and Expense-Cash-Book, and make entries in them severally and successively in
order of date, as explained in directions to Form 4.
Having completed them all, (except the entry of 31st, " By Charges," on the credit
side of Cash-Book, and the last entry in Journal-which you will leave for the present,)
transfer the sales, as shown in your Sales-Book, to the different " Sales for account of"
consignors in the Account-Sales-Book. This process is entirely similar to posting. Next
enter, underneath each Account-Sales, the charges as found in the Receiving-Bookalso the postage as supposed to come from the Postage-Book-and calculate for yourself
the interest, commission, and guarantee.
Then journalize the Account-Sales-Book, which will complete the Journal.    Lastly,
add together the items of interest in the several Account-Sales, and enter the total in the
Cash-Book "By Charges"-also bring in the expenses from the Expense-Cash-Book.
When the books have all been prepared, post the Sales-Book to the Sales-Leger;*
and then post all other entries from the Cash-Book and Journal, in order of date.
NoTE.-Some prefer to have the Bill-Book prepared with twelve divisions, one for each month in the year, and marked upon the
outer edge of the leaves, similar to the Alphabet of a Leger. Then, whenever a bill is to be entered, place it in that division marked
with the month in which it falls due. By this arrangement, a ready reference can at all times be had for ascertaining what bills fall
due in any month. If more bills usually fall due in one month than another, let the division for that month be the largest.
* See remarks on Legers, page 261.
251




CASH-BOOK, FORM 6.
Dr.                      Cash, Notes and Interest.
Date.  L.F.                                      Int. Dr.  B. Rec. Dr. B. Pay. Dr.  Cash Dr.
1853.                                              ~        _. _   - 
Mar. 1  1 To J. Dunlap,     Capital invested                              3,00000
"  1 I" S. Robinson,     "    "                                      3,000100
" 1 " T. W. Welch,       "    "                                      3,000100
10 4 [" B.Warner & Co., Their note for sales, due July,  13th,                 No. 1,          1,420 00
"   11 4  c E. Jones,      His check on Phila. B'k for
sales                                                     1,535 75
"   14 4 "J. Thompson,     Rec'd for sales                               2,061 75
c   17 5    J. Lapsley & Co., "  ".  "                                   1,895 25
"  24   / " Bills Receivable, Rec'd in full for note No. 1,
due July 13th, Am't $1420          26 27                  1,393 73,t  ~  4 " J. Thompson,    His note for sales, due Sept.
27th,                    No. 2,           60700
"6  ~4 " Shepherd & Co., In full for %, due July 15th,
Am't 3,068                         57 78                  3,01 22
"   29 V/   Cash,          Paid note No. 1 and Int., pr.
contra,                            1449          3,621 69?t    1 " Do.,,.    cc 2.  c      4 66        1,86604
"   30 4 [" J. Smith,      For note in full for %, due
July 18th,                No. 3,         2,474 72
"  31 4 " B.Warner & Co., Their note for sales, due Aug.
3d,                       No. 4,          219 83
"6  "  2                Interest debits this month  103 20
"   (" 2                Bills Rec.,       "             4,721 55
d   " 2                 Bills Pay.,       "        s            5,48773
"   "  1                Cash         "     "                            18,896 70
Apr. 1     To Bal. from Old %                            1                5,518152
The object of entering notes and interest in this book, in preference to the Journal, is
twofold,-first, they are most frequently connected with cash entries, and second, in this
book we are enabled, by appropriating a set of columns for all cash, bills and interest
entries, to post in weekly or monthly totals to these accounts, while the other accounts
which balance these columns are posted daily, or as often as we choose.
When either Cash, Bills Payable, Bills Receivable, or Interest are debtor, and some of
them also creditor in the same transaction, the entry may be made on both sides of the
book, for the purpose of bringing into columns all the stms entered to these accounts-as
seen in entries of 24th and 29th. Then, in posting the individual items of the book,
those accounts found debited or credited, which have columns appropriated for them, must
be checked and passed over.
The footing of each of the several columns this month is the amount to be posted to
252




CASH-BOOK, FORM 6.
Cash, Notes and Interest.                         Cr.
Date.  L.F.                                        Int. Cr.  B. Rec. Cr. B. Pay. Cr.  Cash Cr.
1853.
Mar. 5   1 By Charges,        * Our bond for duties on
Mdse., due Apr. 7th, with Int.,  No. 1,           3,621 69,"      2," Lovering & Bache, Bill of exchange on Barings
& Co., London, for ~900, Bo't of Clark &
Co., and sent them this day                                4,000 00
t   S 61 it Merchandise,     t Premium on the above bill
9 91 %                                                       370 00
14 1 " Charges          * Our bond for duties on
Sharpless & Co.'s cons't., due Apr. 16th, with
Int.,                       No. 2,                1,866 04
24 /     "Cash and Int.,   Rec'd on note No. 1, pr.
contra                                    1,4200O
25 2     "Sharpless & Co., Paid at sight their bill of
exchange on us at 10 days' sight, S. C. Morton's favor, for $3,000              6 50                  2,993 50
b   29 v    "s Bills Pay. and Int., Paid note No. 1, dated 5th
inst.                                                      3,636 18
t   ",/     Do.      Do.    cc   cc ", 2, " 14th                          1,870 70
-   31 1   t Charges,       For am't of Int. credited
charges in Ac't-Sales rendered this day, pr.Ac't
S.-B.                                5 89
4      I I " Do, Paid as pr. Expense C.-B.,
this month                                                   34530
"      3 8" Store Expenses,    1"    ".                162 50
";  "                   Interest credits this month  12 39__,,   2                 Bills Rec.     "    "<           1,42000
"    4 2                Bills Pay.     "                          5,48773
a   4  1                Cash                                              13,37818
d      t  By Balance on hand, to New %                                     5,518 52
18,89670
the debit or credit of the account shown by the heading; but the footing of the " Cash
debit" column of the next month will be too large by the amount of the balance brought
down, which sum will need to be deducted from it to obtain the amount for posting.
The entries from the Expense-Cash-Book may be made at any time; and the cash
account then proved by footing up the cash columns, and minuting opposite the footings
their difference, or the balance on hand, after the manner shown in Cash-Book, Form 4.
Those who prefer to do so, can substitute the Cash-Book of Form 4, instead of this; or
may use a simple one column Cash-Book, and enter bills and interest in the Journal.
* By law of August, 1842, duties are required to be paid in cash, but these bonds with interest are introduced here to show a
variety of entries.
t This premium is passed to the debit of merchandise, because the sum paid is strictly a part of ths cost of goods purchased of!overing & Bache.253
253




SALES-BOOK, FORM 6.
Philadelphia, March 3d, 1853.
S. L. F. Consignor.  --
4           John Smith,            Market St.       8 m.
/    C. D.  B 476      1 Case Prints,       1,000 Yds. ~( 10  100 00
/      Gu   B 466 and 468. 2 Bales Drillings,  900 " " 12  108 00
4/  P. K.   c Ill and 112. 2 cc Tickings,     900 " "c 17  15300
V4', c    113 and 114. 2 ", Extra Do.,   850 c"   20   170 00   531 00
4th ______
4           E. Jones,              Coates St.       6 m.
s/ E.D.&O. E 210       1 Case Satinets,       600 Yds. ( 70  420 00
4/     "    E 208      1 "   Do.,             720 C Cc 65  468 00
/      cI   E 211     1 " Cassimeres,         500 " "1,00  500 00
/     cc    E 212     1 ", Ribb'd Do.,        500 " "1,25  625 00,/  P. K.   c 115 and116. 2BalesTickings,    900 " " 15    13500
4/     Ic   cI17andl20. 2 c"  Do.,           800 c" ", 16  128 00./   C. D.  B 467     1 " Check Cottons,     600 c" ", 12   72 00  2)348 00..............6th _____....
4           A. Edwards & Co.,      Race St.         6 m.
^/ E.D.&O. E 209      1 Case Satinets,        550 Yds. ( 70  385 00
4/  C. D.   D 532 and533. 2 Bales Check Cottons,  900 " " 10  9000
4j    CC    D 526 and529. 2 "C Drillings,     950 " " 10    9500
4/    M.      81     2 Ps. Fine Blk. Cassimeres,  80 c" " 2,50 200 00,/   "cc,           2 " Extra Fine Bl'k. Do.,  80," "C 2,75  220 00
/    Ic <c 84         4,, Super W. D. Blk. Cloths, 92 cc "9,25 851 00,/     c,          5 " Fine Blue Blk.  Do., 120 cc "c7,50  900 00 2,741 00
8th....
4          John Smith,            Market St.        3 m../    M. M <8. 6      7 Ps. Assorted Brown Cloths, 175 Yds. o 4,75 831 25
I/ cc        81       4 " Extra Blk. Cassimeres,  160 " " 2,75 440 00
4/    cc   < &>82     4 C" Oxford Mill'd Do.,  152,,,, 2,32 352 64
j     cc   <> 83      2 " Mill'd Drab  Do.,   84 c ", 2,30  193 20  1,817 09
_________________ 10th.
4          B. Warner & Co.,        Arch St.    Note ~ 4 m.
4/  C. D.   B 469 and 470. 2 Cases Extra Fine Prints,  2,000 Yds. a 14 28000./    Cc    D525and528. 2 ", Ginghams,       1,800 "   20 360 00
4/ E.D.&O. E 201and202. 2 ", Satinets,       1,200," " 65 780 00  1)420 00
1_ 1th......
4          E. Jones,               Coates St.  Check on Bank.
M.       & 87       5 Ps. Blue Cloths,     125 Yds. o 5,25 656 25
c/  c  "        2 "c Extra Blue Cloths,  50, Cc 6,00  300 0
/,     "        2," Light Mix'd Do.,   50," ",4,75 237 50,,/ |   3 " Dark ",    Do.,     72 " "cc 4,75 34200  1,535 75
Am't. forward          10,392 84
254




SALES-BOOK, FORM 6.                                      2
Philadelphia, March 1 lth, 1853.
S. L. F. Consignor.
10,392 84
4           Shepherd & Co.,         Chestnut St.    4 m.
V/ E.D.&O. E 204 and 205. 2 Cases Cassimeres,  800 Yds. ( 1,50 120000
V/     (<   E 203      1'"   Do.,          400 "    1,25  500 00
v/    M.   q' 85      4 Ps. Blk. Cloths,     100 "    6, 6,00 60000
V/     "   K  88      8 " Victoria Do.,      192 cc" 4,00 768 00  3)068 00
14th
4           J. Thompson,            Fourth St.     Cash.
V/ S. & Co. 0' 26     6 Ps. Assorted Green Cloths,  150 Yds. ( 4,75  712 50
/      c"             6 cc",   Brown Do.,   126 C" " 5,50 693 00
%/    c"              5 "   "   Blue  Do.,   125 cc",  5,25 656 25 2,061 75
i________  ~    15th
5; T- - o ^Bonnard & Bates,         Filbert St.     6 m.
/ E.D.&O. E 206       1 Case Satinets,        425 Yds. e 72  306 00
V/    "C    E 207     1 cc   Do.              450. ". 50 22500     53100
17th
5          J. Lapsley & Co.,        Second St.
^/    M.   I< 89      3 Ps. Superfine Inv. Green Cloths, 75 Yds. a 7,50  562 50
^/ S. & Co. j 28      2 c"  c    Olive Brown Do., 48 " ",, 7,50  360 00
V/    cc      "       2 cc"  "   Blue     Do., 48 c", 7,50  360 00
V-/   cc "    "       6,C       Victoria  Do., 150 " ", 4,75  712 50
199500
Discount 5 % for cash  99 75  1,895 25
19th
5          Smith & Williams,        Broad St.       6 m../    M.   < 89       6 Ps. Fine Drab Cloths,  150 Yds. ( 3,75     562 50
20th
4          A. Edwards & Co.,        Race St.        6 m../ S. & Co. O 27      5 Ps. Black Cloths,    125 Yds. a 6,75 843 75
cc         "    4,, Extra Fine Blk. Cloths,  96 C " 9,25 888 00  1,731 75
24th                       --
4          J. Thompson,            Fourth St.  Note f 6 m.
/   C. D.   D 521 and 522. 2 Bales Drillings,  950 Yds. @ 10  95 00
V/    CC    D 534     1 Case Ginghams,        925,, ", 16  148 00
V/    cc    B 475     1,C Fine Prints,     1,025," c, 12  123 00
V   P. K.   c 125     1 Bale Tickings,       475 " " 16    76 00
V/!"       c 119     I "    Do.,             500 " CC 15  75 00
V/    cc    c 124     1,, Extra Do.,         450, " 20   90 00    607 00
4          Bonnard & Bates,        Filbert St.      6 m.
v  S. & Co. Q 28      2 Ps. Superfine Inv. Green Cloths, 48 Yds. ( 7,50  360 00
V/     c"     "       3,, Victoria      Do., 75 CC ", 4,75 356 25
V/     c    0 29      6," Extra F. Blk. Cassimeres, 236 "C "C 2,50  590 00
V/ |   ",         3" Drab Mill'd  Do,    118 "   2,00oo 236 00  1,542 25
Am't forward          22,392 34
255




3                  SALES-BOOK, FORM 6.
Philadelphia, March 27th, 1853.
S.L.F. Consignor.                                                       22,392 34
4           John Smith,               Market St.        6 m.
V    C. D.   B 472      1 Bale Check Cottons,     650 Yds. ( 11  71 50
V/     u     B 474      1    Drillings,           525 "    102  55 13    126 63
-_        ____________  29th
5           Smith & Williams,         Broad St.         4 m.
V/S. & Co. Fl 27        5 Ps. Blue Bik. Cloths,  125 Yds. ( 6,00  750 00
V/     "      j 29      3 I" Oxford Mil'd Cassimeres,  125 " Io2,32  290 00
V      I c      "       2 "   it Mix'd   Do.,     80 " "1,90   15200    1,192 00
-~~_____________31st
4            B. Warner & Co.,         Arch St.    Note 0 4 m.
/   C. D.   B 477      1 Case Prints,            985 Yds. (2 102 103 43
Vy     *(C C  B 480     1 "   Do.,                970,, 12   116 40    219 83
5 |'l Total month's sales, posted to Sales %                          23,930 80
In making entries in the Sales-Book, the initials of the consignors and the marks and
numbers of the packages are given, as an index in transferring to the Account-SalesBook.
Entries in this book are posted to the Sales Leger, and therefore they must in all cases
be made to the debit of the individual to whom goods are sold; and if payment be made
by note or cash, it must be passed to his credit on the Cash-Book. All the debits are
posted daily, or as often as convenient, and at the close of the month the total sales are
posted to the credit of the Sales Account.
Frcm time to time, as convenient, the sales, as shown by' this book, are transferred to
the Account-Sales-Book, the items being checked as fast as transferred, to prevent
omissions.
256




ACCOUNT-SALES-BOOK, FORM 6.
Sales for account of Charles Duncan.
Date.     To whom sold.  Time Mark No. Description of goods. Yds. Price] Am't.  Total.
1853..          _
Mar. 3 John Smith        8 m. B   476 1 Case Prints     1,000 10  0000.c c(  Do.      "    "  46} 2 Bales Drillings  900 12 108 00   208 00
"(  4 E. Jones           6 m. " 467 1 " Check Cottons    600 12          72 00,"  6 A. Edwards & Co.    "   D   53 2 "'   Do.   Do.    900 10   9000'"        Do.             "   "   52 2 " Drillings       950 10   95100  185 00' 10 B.Warner&Co.(Note) 4 m. B   4o 2CasesExtraFinePrints 2,000 14 28000
(   tI    Do.             "   D'I  2 " Ginoghams    1, 800 20 360 00  64000, 24 J. Thompson (Note)  6 m. " 6    2 Bales Drillings  950 10    9500, ",     Do.              "   "  534 1 Case Ginghams    925 16 148100
<   ( "  Do.              "   B  475 1 "   Fine Prints  1,025 12 123100  36600
c 27 John Smith;"   "  472 1 Bale Check Cottons  650 11  71 50
Do.             "    "  474 1 " Drillings      525 102 55 13   126 63
" 31 B.Warner&Co.(Note) 4 m. " "477 1 Case Prints       985 102 13-43
"- "(    Do.             "    c 480 1 ".     Do.        970 12 116140   21983
Charges.                1,817 46
Insurance.12,72
L/       Freight...... 40,32
Drayage...... 2,37       5541
Int.on$31,92fromMar. 1st,16
"   $23,49  " "   5th,10     26
Postage....   1 31
Com. and Guarantee at 5 %    9087   14785
|_____ 1Net proceeds, due Sept. 6-9.        1,669 61
E. E. Philadelphia, March 31st, 1853.                   J. DUNLAP & Co.
Sales for account of Peter IKelly.
Date.    To whom sold.  Time Mark No. Description of goods. Yds. Price | Am't. Total.
Mar. 3 John Smith        8 m. C     t 2 Bales Tickings  900   17 153300
* I"  Do.                      3 2  " Extra Do.     850 20 170 00   32300
" 14 E. Jones          6m.          2           Do.    900  15 13500
"6 "     Do.                     1,720 2  "    Do.    800  16 12800 26300
" 24 J. Thompson (Note)    "    125 1 "         Do.    475  16   76 00,, "4    Do.             "      119 1 "         Do.    500  15   7500' "      Do.             "      124 1 "         Do.    450  20   90,00 24100
Charges.                  827100
|  V| <s/           Freight......8,64
Drayage...... 1,00      964
Int. on $9,64 from Mar. 1st    051
Postage........         94, i  /                     Our Com. at 22 %....       2068   31131
| _/ __|_|Net proceeds, due Oct. 10-13                              795-69
E. E. Philadelphia, March 31st, 1853.                  J. DUNLAP & Co
2 H                           257H




2           ACCOUNT-SALES-BOOK, FORM 6.
Sales for account of E. Dickson and Ourselves.      (Co. R.)'Date. I  To whom sold.  jTime Mark No. Description of goods. Yds. Price Anm't.  Total.
1853.
Mar 4 E. Jones          6 m. E   210 1 Case Satinets    600  70 42000,, "     Do.                 " 208 1 "       Do.       720  6   46800
"  "  Do.            "    " 211 1 "    Cassimeres   500 1,00 50000, "      Do.                 " 212 1 "    Ribb'd Do.   500 1,25 625 00 2,01300
6  6 A. Edwards & Co.    "    " 209 1 "   Satinets     550  70          388500
10B.Warner&Co.(Note) 4 m. "    2~ 2   "    Do.      1,200  65         78000, 12 Shepherd & Co.          "   20 2  "  Cassimeres   800 1,50 120000.  "     Do.             "   " 203 1 "      Do.        400 1,25 50000 1,70000
" 15 Bonnard & Bates   6 m. " 206 1 "     Satinets     425  72 306 00
"  "     Do.             "   " 207 1 "      Do.        450  50 22500   53100
Charges.                 5,409 00
Ins. $21,64, Fr't. $21,60, Dray. $1,00  44 24
Int. on $44,24 from Mar. 3d.  21
Postage........  94
Comrn.'and Guarantee at 5 %. 27045  31584
Net proceeds, due Aug. 19-22       5,09316!~~~~~/ ~E.D's -$2,546,58,Our 5$2,546,58 
E. E. Philadelphia, lMarch 31st, 1853.                 J. DUNLAP & Co.
Sales for account of Merchandise.
Date.    To whom sol.   Time Mark No. Description of goods. Yds. Price  A't.  Total.
Mar 6 A. Edwards & Co.  6 m.<   11 2 Ps. Fine Blk. Cass.  80 2,50 20000
" } "    Do.           |"    "   ", 2 " Ex. F. Blk. Do.  80 2,75 220 00
"  "/    Do.             "   t" 84 4" Su.W.D.Blk.Cloths  92 9,25 851 00
"  "|    Do.           "t   "4   " 5" FineBlueBlk.Do. 120 7,50 900 00 2,171 00
"  8 John Smith        3 m. "   86 7 " As'd. Brown Do. 175 4,75 831 25
" |      Do.            <"   "  81 4" Extra Blk. Cass. 160 2,751 440100
4 "      Do.,     "    "  82 4" Oxford Mill'd Do. 152 2,32 352164,, "     Do.            16  ", 83 2    Mill'd Drab Do.  84 2,30 193 20 1,817,09
"< 11 E. Jones (Check)       "  87 5" Blue     Cloths  125 5,25 65625
i| "  Do.    "            "   " 2" Extra Blue Do.    50 6,00 300 00
It |  Do.    "            "   " 2" Light Mix'd Do.   50 4,75 237 50
| 4 |"   Do.    ",        " 3 "Dark   Do. Do.    72 4,75 34200 1,53575
12 Shepherd & Co.   4 m. "   85 4 "Black       Do. 100 6,00 60000
"* |  Do.            "    "  8 8 "Victoria    Do. 192 4,00 768 00 1,36800
17 J. Lapsley & Co.       "   89 3 " Su.Inv.GreenDo.  75 7,50 56250
Dis. 5 % for cash             28 12  534 38
19 Smith & Williams  6m. "   89 6 Ps.FineDrabCloths 15013,75        56250
\I I.Wi/lliams     I         Charges.                 7,98872
-    "'lt I  Ow~~i~,  I  I  I Duties, $3,621,69, Ins. $135,81 375750
Freight, $65,34, Drayage, $0,75  66 09
^^^I o~. >*\'                Com. and Guarantee at 5 %   399 44 4,223 03
Net proceeds                      3,765169
March 31st, 1853.
258




ACCOUNT-SALES-BOOK, FORM 6.                                           3
Sales for account of Sharpless f Co.
Date.    To whom sold.  Time MarklNo. Description of goods.  Yds Price  Ami't.  Total.
Mar. 14 J.Thompson (Cash)      I   2 26 Ps. As'd Green Cloths 150 4,75  712 50
s"        Do.                         6 ",,, Brown  Do. 126 5,50  693 00
"   "     Do.                 "    "5,"    "  Blue    Do. 125 5,25  656 25 2,061 75
1 7 J. Lapsley & Co.       "  28 2 " Su.F.OliveBr. Do. 48 7,50   36000
"(    4   Do.                 "    " 2 ","    Blue    Do. 48 7,50   36000
"<      " Do.                 "    " 6 "Victoria       Do. 150 4,75  712 50
1,432 50
Discount 5    for cash           71 63 1,36087
"  20 A. Edwards & Co. 6 n. "     27 5Ps. Blk.      Cloths 125 6,75  84375
"   "     Do.            "    "   " 4 " Extra F. Blk. Do. 96 9,25    888100 1,731 75
"  24 Bonnard & Bates    "    "   28 2 " S.F.Inv.Green Do. 48 7,50   36000
Is,,     Do.            "    "   " 3 "Victoria       Do. 75 4,75    356 25
"   "     Do.            "    "   29 6 "Extra F. Blk. Cass. 236 2,50/ 590 00
"   "     Do.            "    "   "3 " Drab Millki    Do. 118 2,00' 236 00 1,542 25
29 Smith & Williams 4 m. "       27 5 " Blue Blk. Cloths  125 6,00  750 00
cA  "     Do.            "    "   29 3   Oxford MiIl'd Cass. 125 2,32  290 00,, ]'l    Do.            "    "   "  2"    "   Mix'd  Do. 80 1,90    15200 1,19200
Charges.                    7,88862
Duties..... 1866,04
^?,.Freight.....                    29,04
l |  >   l    l   |Drayage....      38 1,89546
Int. on $1,895,46 from 14th inst.  5 37
Postage.....1 50
Corn. and Guarantee at 5 %.   394 43 2,296 76
- /         INet proceeds, due July 27-30          5,591 86
E. E. Philadelphia, March 31st, 1853.                       J. DUNLAP & Co.
By making this book one from which to journalize, instead of using it only for preserving copies of Account-Sales rendered, we are saved the labor of keeping in the Leger
the consignment or sales accounts of the individuals for whom goods are sold, and also
obtain a proof of correctness, which is described under the Journal.
Under the headings of " Sales for %c of, 6c.," the sales for each consignor are copied
from the Sales-Book at any convenient time, and once in three months, or as often as
Account-Sales are to be rendered to the consignor, the charges on goods sold as shown by
the Receiving-Book and Postage-Book, with interest on these charges, and commission
for selling, &c., are placed underneath the sales, and deducted therefrom, leaving the net
proceeds.
The total sales are journalized to the debit of Sales Account, the net proceeds to the
credit of the different consignors, and the charges to the credit of Charges and Commission, noting the Journal folio on which the entry is made.
A space may be left after each heading, of from a part of a page to any number o
pages, according to the probable amount of sales to be entered under it, and an Alphabc
may be used for convenience in referring to the different Account-Sales.
When goods of various kinds are received from a consignor, and he wishes an AccountSales rendered of each separately, "Sales for %  of" said consignor may be opened
more than once, and numbered 1, 2, 3, &c., by way of distinction.
259




JOURNAL, FORM 6.
Philadeiphia, March 3d, 1853.
L F.
3   Mdse. Co. R.                  To E. Dickson,         4mos..3            For our a Invoice of Satinets and Cassimeres rec'd this day, to be sold
on his and our joint %
Am't of Invoice, $4,327,20,-  our ~ is               2,163 60
5th
Merchandise                  To Lovering & Bache,
For Broad Cloths and Cassimeres rec'd this day, pr. Invoice, amounting
to ~1872 11s. 5d.                                  8,32254
Sent them a Bill of Exchange, as pr. C.-B., for ~900;the Balance due
at 6 months
31st _______ -
5   Sales Account             To Sundries For Ac't-Sales rendered.
2  Mar 31. To Chas. Duncan,      due Sept. 6-9    1,817,46- 147,85  1,669 61
2    ("  "  To Peter Kelly,        c Oct. 10-13    827,00-  31,31    795 69
3       "   To E. Dickson,,     Aug. 19-22    2,704,50-  157,92  2,546 58
3   "   "   To Mdse. Co. R.       it",, i "    2,704,50-  157,92  2,546 58
1     " "  To Merchandise,                        7,988,72-4,223,03  3,765 69
2    "  "   To Sharpless & Co.     i July 27-30   7,888,62-2,296,76  5,591 86
23,930,80-7,014,79 16,916 01
1          To Charges and Commission                               7,014179
23,93080
Any miscellaneous entries that occur, for which there is no other specific place of entry,
are entered in this book directly; and periodically, say once in 3 months, the sales for
account of consignors, in the Account-Sales-Book, are closed, and journalized into it. If
it is wished to render an Account-Sales to any consignor before this periodical journalizing,
the sales for his account must be closed, dated, and signed, and a duplicate forwarded
him, but no Journal entry made until the periodical time.
The dates preceding the consignors' names, show the time when the Account-Sales were
closed and entered. In the examples given, the closures are all at one time, but had any
consignor's sales been closed several times before journalizing, these dates would distinctly show it.
When the Account-Sales-Book is all journalized and posted, there is in the Sales Account upon the Leger, a proof of the correctness of the Sales, and Account-Sales Books.
Thus, in this month's operations, the total amount of sales to different persons, as shown
by the Sales-Book, is $23,930,80, which sum is posted to the credit of the Sales.2ccount.
The sales having been transferred to the Account-Sales-Book, (each sale to the account
of the person for whom it was made,) and from thence journalized; the total sales collected in the Journal, and from thence posted to the debit of the Sales iccount, is also
$23,930,80, the same amount as shown by the Sales-Book.
260




REMARKS ON THE LEGERS, FORM 6.
In the Key, I have given examples of two Legers for this Form, one of which is termed
Sales-Leger, to distinguish it from the other. In the Sales-Leger are opened all accounts
with persons to whom you sell goods, and the debits to them in the Sales-Book for
goods sold, together with all entries, either debit or credit, which occur to these same
persons in any other of the books of original entry, are posted to this Leger. The
" Sales Account" is also kept in this Leger. All other entries are posted to the main
Leger.
In houses doing a very extensive business, the Leger is soon filled, and the labor of
transferring all the accounts to a new one is very considerable. But by having a SalesLeger, this task will not be of as frequent occurrence, since each of the Legers may be
made as large as can conveniently be used, and the two will contain twice as many
accounts as one. Another advantage in keeping a Sales-Leger is, that an assistant may
post up the Sales-Book, and thus lighten the labor of the head book-keeper. This plan
of.having more than one Leger is adopted in jobbing and other houses as well as in
commission houses, and some jobbing houses have three, a City-Sales-Leger, a CountrySales-Leger, and the main Leger.
These two or more books constitute in fact but one Leger, and each book is but a
portion of that one Leger, bound in a separate cover. In making out Trial Balances,
Balance Sheets, &c., they are to be treated as one.
Postings from the Journal should be distinguished in the Leger by being marked "J;"
those from the Sales-Book should be entered " To Sales,"or in the Sales Account "By
Sales;" all other postings will then be known to come from the Cash-Book.
TRIAL BALANCE, LEGER, FORM          6. March 31st, 1853.
Dr.     Cr.
L.F.
Sales Leger.
4 E. Jones -     -   -    -    -   ---               2,348 00
4 A. Edwards & Co. -    -    -   -    -    -   -     4,472 75
5 Bonnard & Bates                                -   2,073 25
5 Smith & Williams -    -   -    -    -    -   -     1,754 50
Personal %j having balances due firm  -  - 10,648 50
Main Leger.
2 Lovering & Bache -    -   -    -    -    -   -              4,322 54
2 Sharpless & Co.    -    -                      -            2,591 86
2 Charles Duncan   -    -   -    -    -    -   -              1,669 61
2 Peter Kelly   -    -    -   -    -    -    -   -              795 69
3 E. Dickson  -    -    -   -           -      -              4,710 18
Personal %s having balances firm owe  - -14,089 88
1 James Dunlap     -    -   -    -    -   -    -              3000 00
1 Samuel Robinson    -    -   -    -    -   -    -            3,000 00
1 T. W. Welsh-                                                3,00000
1 Cash     --             --            -    -       5,518 52
1 Charges and Commission    -    -             -              1,175 87
1 Merchandise   -    -    -   -    -    -    -   -   4,926 85
2 Bills Receivable                      -      -     3,301.55
2 Interest  -                    -                      9081
3 Merchandise, Co. R    -   -    -    -   -    -                382 98
3  Store Expenses -  -    -   -    -    -    -   -     162 50
Personal %j due firm  -  -    -    -    -        10,648 50
Personal.%d firm owe   -   --               -    ____      14,089 88
_==-=~~ 9~261                                24,648 73 24,64873




RECEIYING-BOOK, FORM 6.
How Received Whenevd     osgos        No. of Mr.Numbers on  Dts
How Received.               Consignors.       Mark.   akag    Duties  Insurance  Freight. Drayage  Total.  Remarks.
Ship Eliza       Mar. 1st Chas. Duncan,      20   B   461 to480          727 23 40    1 25   31192
from Boston              Lowell, Mass.
Brig Swan          "  5th     Do.             15   D  521to535            545 1692    112    2349
from Boston                                                           "1272 4032    2 37    5541
Brig Ellen       Mar. 1st Peter Kelly,        16   C  111 to 126                864   100     9,64 Shipper insured.
from Providence           Providence, R. I.
Bark E. Sherwood Mar. 3d  E. Dickson, Prov.   12   E  201 to212          2164 21 60   100    4424
from Providence            and ourselves (Co.R.)
Ship Saranak     Mar. 5th Merchandise         9    <6> 81 to 89 3,621 69 13581 6534     75 3,823 59
from Liverpool
Ship Thos. P. Cope Mar. 14th Sharpless & Co.  4    E]  26 to 29 1,866 04        2904    3811,89546 Shipper insured.
from Liverpool           Liverpool
The time and manner of receiving goods, the consignors' names, the marks, numbers, &c., together with all payments on the goods
for duties, insurance, freight and drayage, are entered in this book; and when an Account-Sales is to be rendered, the charges for these
items are here found.
A space may be left in this book for each consignor, greater or less, according to the probable amount of business to be transacted
with him, where all his consignments can be entered in connection. Then, for ease in referring to the different consignors, an Alphabet




EXPENSE CASH-BOOK, FORM 6.
Date.                                                        Store Exp's. Charges.
Mar. 1 Paid Insurance and Freight on Cons't. of C. Duncan                 30 67
"X  (c  u'                 Do. "    "     " P. Kelly                     864
"c  3   "     Do.          Do. c"   "     "E. Dickson                   4324
c"  5   "     Do.          Do. "    "     " C. Duncan                   22 37
"   5    C    Do.          Do. " Merchandise                           201 15'   6   " for Stationery                    Grigg & Elliott   12 50
c 12    "   " 2 Tons Coal                   J. West            9 00
c  14   "  Freight on Sharpless & Co's Cons't.                          29 04
"  25   " for Gas light                                       18 75
1875
"  31," J. Bingham one month's wages                 65,00
"c "c   "  Saml. Ball     "        <"                 40,00
cc'   "'c Philip Frazer "       "                   15,00  120 00
cc
C    c P. W. McGregor for drayage this month                         5 50
ss,"' (Postage for sundry persons, pr. Postage Book, this mo.        4 69
"c "         Do.   " our own %''''      c'  "  2 25
Ent'd on main Cash-Book, folio 1  162 50   345 30
In this book are entered the petty expenses for store, and the petty charges paid for
consignors, each in a column appropriated for that purpose; and the totals of these
columns are taken to the main Cash-Book, whenever a trial of the cash account is to be
made.
INVENTORY-BOOK, FORM 6.
Merchandise on hand March 31st, 1853.
<"> ft81. 6 Ps. Fine  Blk. Cassimeres              240 Yds. @ $1,24     297 60
t" $82. 3'" Oxford Mill'd     Do.                114  "   c"  1,24    141 36
7 c"   "    Mix'd       Do.               266   "  "   1,00    266 00
"c ~83. 1 " Drab Mill'd        Do.                 42  "   "  1,22      51 24
3 " Fine Blue           Do.               126   "'"  1,22    153 72
3 "    "   "   l Mill'd  Do.              126   "  "   1,22    153 72
5 " Assorted Col'd      Do.               212   "  "   1,11    235 32
"t- 84. 2 " Super W. D. Blk. Cloths                46  ("  "  5,00    23000
2 " Fine Blue Blk.      Do.                48   cc    4,00     192 00
"c #85. 4 " Black              Do.                100  cc cc 3,00      300 00
7 "c Assorted Green     Do.               175   C  "   3,00    525 00
" 486. 7 "     "     Brown     Do.                175  "   "  3,00    525 00
",87. 2 " Light Mix'd        Do.                 50  "   "  2,50     125 00
2 " Dark    "c          Do.                48  "   "  2,50     12000
" 488. 2 " Victoria            Do.                48   "  "   2,00      9600
5 c"    "               Do.               120 c"   "  2,78     333 60
#89. 5 " Superfine Drab       Do.                120  "   "  3,00     360100
4,105 56
Add 50 % for Freight, Charges, Duties and Exchange   2,052 78
$6,15834
263




INVOICE-BOOK, FORM 6.
Tnvoice of Cloths and Cassimeres, shipped per Saranak, Turley, bound to
Philadelphia, on ac't and risk of James Dunlap y Co., Merchants there.
and to them consigned, pursuant to their order.
~    s.  d.
<8> 81. 6 Ps. Extra Fine Blk. Cassimeres     240 Yds. @  6s. 9d.    81 0 0
8" FineBlk.             Do.         320   "      5  7       89 6 8
"c t82. 7 " Oxford Mill'd      Do.          266  "   "  5  7       74 5 2
7 "     "   lVIix'd     Do.         266   "  "   4  6       5917 0
" t83. 3 " Mill'd Drab         Do.          126  "   "  5  6       34 13 0
3 " Fine Blue           Do.          126  cc "5     6       3413 0
3"     "  "   Mill'd   Do.          126   "  "   5  6       34 13 0
5 " Assorted Col'd     Do.          212   "  "   5  0       53 0 0
c" 84. 6 " Super W. D. Blk. Cloths          138  "   " 22  6       155 5 0
7 " Fine Blue Blk.      Do.          168     "cc 18  0     151 4 0
" 985. 8 " Black               Do.          200  "   " 13  6      135 0 0
7 " Assorted Green      Do.          175 c"  " 13   6      118 2 6
" #86. 7 "     "    Brown      Do.          175  "   " 13  6      118 2 6
7 c"    "      "       Do.           175  "  " 11   3       98 8 9
" #87. 5 " Blue                Do.          125  "   " 12  6       78 2 6
2 " Extra Blue         Do.            50  "  cc 14  8       3613 4
4 " Light Mix'd        Do.           100  "  " 11   3       56 5 0
5 " Dark    "          Do.          120   "  " 11   3       6710 0
cc 88. 10" Victoria            Do.          240  "   "  9  0       108 0 0
5 "     "           -  Do.          120   "  " 12   6       75 0 0
" #89. 3 " Superfine Inv. Green Do.          75  "   " 18  0       67 10 0
6 " Drab               Do.          150   "  "  8   4       62 10 0
5 " Superfine Drab     Do.          120   "  " 13   6       81 0 0
1,870 1 5
9 Packing Boxes and Drayage                  2 10 0
~1,87211 5
Liverpool, Feb. 12th, 1853.
(Signed) LOVERING & BACHE.
NOTE.-The Inventory on the preceding page is that portion of the above Invoice that remains unsold. To save
room the other Invoices are omitted.
FORM OF A CONTINUED TRIAL BALANCE.
On the opposite page is given a form for a Continued Trial Balance of the Leger, in
which the differences only of the accounts are entered.
It will be found of great service in enabling the heads of an establishment to see at a
glance the standing of the account of any individual, or of any species of property, and
to compare it with the former position of that account. This sheet may be made out
monthly, or once in two or three months, at discretion, and it would be well to have a
hook ruled for the specific purpose.
264




FORM OF A MONTHLY TRIAL BALANCE FOR SIX M3ONTHS.
L                 Dr.  January.  Cr. |Dr. February.  Cr.  Dr.  March.  Cr.  Dr.  April.  Cr.  Dr.  May.  Cr.  Dr.  June.  Cr.
Stock9,288                      9,2288-0..  99,288,0... 00  9,28800...  9,28800...  9,28800
4  Cash..    5,518 04..  2,3466...  825 30..  1,826 57...  2,763 76...  2,656 97
5  Charges and Corn...  787 16...  966 87..  1,27326...  1,54694...  2,16577..  2,79848
2  Merchandise. 7  4,157 41.. 6,212 25...  2,14026...  3,640 78...  7,856 86...  4,965 54
15  Lovering & Bache..  4,322 54...  4,322 54
3  Bills Receivable..  3,301 55...  3,125 00...  6,220 75...  4,366 46...  6,774 54...  6,774 54
16  Sharpless &  Co.... 2,59166...  2,59166...  2,59166...  2,591 66...  2,591 66...  2,591 66
6  Prem. Int. and Dis.  467 18...  189 76...  460 25...  475 28...  286 66...  125 60
17  Chas.Duncan.... 1,66725...  3,187 18...  3.1,76745...  1,76745.  1,767..  83915
19  Peter Kelly...   795 26..  2,692362...  2,692 62...  692 62
7 Mdse. Co. R...... 382 06
8  Store Expenses  162 50...  322 65...  556 63...  693 98....  893 75...  1,026 84
20  A. Edwards & Co..  4,472 75...  472 75...  2,472 75..  2,472 7755...  2,472 75.  472 75.21  Smith &  Williams.  1,75450...  2,362 61..  2,36261...  2,362 61...  3,862 61...  3,862 61
19,833 3 19,833 93
II~~~10 Profit and Loss.....         382 06...412..   412 33... 412 33... 412 33
22 E.Jones &... 2,358. 2,98299...  4,345 60
23 Bonnard & Bates.....               073 25...17.2    1,073 25
23,430 93 23,430 93
25  T. W. Provost &  Co....   930 53.  _1,838 40.. 2,452 25.. 5,862 50
20,025 32 20,025,32
11  Bills Payable......" —   *.  2,000 00..   3,500 00..  3,850 00
26  J.&.  ederson'                                   4::::79. __ _ 6 68..  4,796 68..  4,796 68
123,095 68.23,095 68
27  Manning&...... L   5,582o28,58238
29  Oviattl lay b............& Cla4..  3,98590
2'30,104;17 30,104717
30  Taylor& Wilson                                                             6   92..........'
30,806 50 30,806 50-/




FORM OF A RECEIVING AND FORWARDING BOOK.
Nashville, Tenn., 1853.
How Received.  Date Rec'd.  For whose ac'gh Weight. Rat.  reiht.storage. Drayage.T ota l. 
Talleyrand  Apr. 15. Jas. Swanson,  10 5000 50 25 00
fr. N. Orleans      Williamson Co.      Char ges. 25 00  5 00  1 25 5625 300
Cumberland Apr. 22. Saml. Walker,   11 3000 25    7 50
fr. Smithland       Columbia,Tenn.      Char ges. 1000  3 00    75 21 25 600
When the receiving and forwarding operations of a house are confined to regular customers, with whom the house has running accounts, it will be found convenient to post
directly from this book to the Leger-the amounts extended in the total column being
posted to the debit of the individuals for whose ac't received, and the footings of the
Freight, Storage and Drayage columns being posted monthly to the credit of their respective accounts. The footing of the Freight column, taken to the credit of that account,
should equal the amount previously debited the same account for freight and charges paid
on goods when received.
When a cash business is done, this book will be used only as a register of particulars
in relation to goods received, and no posts will be made from it. The postings will come
through the medium of the Cash-Book.
FORM OF A RECEIVING BOOK.
Philadelphia, May 2nd, 1853.
Shippers.  |  Marks.  Consignees.      Articles.      Weight Rate. Charges.  Am't.
Hoffman & Co. E &c. P. Camden     8 Boxes Dry Goods
Pittsburg'3+     0+00+4+7        ++ 20+2+5= 3175 1,25  138 41 07
A.Swain & Co. Q ~    Park & Selden 2 Crates Crockery 5     1 145  872  75 10|77
Cincinnati  2 Boxes Hardware  7+4= 925    872   50  8 59
FORM OF A FORWARDING BOOK.
Philadelphia, May 3d, 1853.
Mark.   Consignees.               Articles.'Weight
8 Boxes
|  &c. P. Camden    300+4600+400+500+450+350+250+3255= 3175
T  $o Park & Selden 2 Crates 520 + 625                 1145
2 Boxes 450 +475                   925
John Morris, Conductor, Cars No. 200, 520, 315, 626.1
The last two Forms are for houses which have regular transportation lines owned in
connection with them.
In the Receiving-Book are mentioned all the particulars concerning goods received;
and when goods are forwarded the weights and marks are taken down in the ForwardingBook, also the numbers of the cars in which sent, and the name of the conductor who
takes charge of them. Then, by comparison with the Receiving-Book, it can be seen
whether the weights, &c., agree, and whether the goods of any consignee are all sent.
NOTE.-The examples given suppose the transportation line to be cars, but if it were boats, the Forms would
answer equally well.
266




COMMERCIAL CALCULATION S;
OR,
MERCANTILE ARITHMETIC.
267




COMMERCIAL CALCULATIONS.
INTEREST.
Interest is a premium or per-centage paid by the borrower to the lender for the use of
money lent.
There are several methods of calculating interest, of which we give the following.
I. To OBTAIN THE INTEREST, WHEN THE PRINCIPAL, TIME, AND RATE PER CENT. ARE
GIVEN.
RULE I.
JMlultiply the principal by the rate per cent. per annum, and cut of two figures in the product, as decimals: the result will be the interest for one year..Multiply this interest by the
number of years in the given time, and take aliquot parts for the months and days.
RULE II.
Express the time given as the fractional part of a year. Multiply this fractzon by the rate
per cent. per annum, and the principal by the product obtained, and in the last product point
oftwo decimal places.
RULE III.
1st. When the interest is at 6 per cent. per annum.
Multiply the principal by one-half the number of months in the given time, and point of
two places as decimals in the product.  If the given time be days, multiply the principal by
one-sixth the number of days, and in the product point off three decimals.
2d. To find the interest at any rate per cent.
Obtain the interest at 6 per cent., as above, and take aliquot parts of the same for the
required interest:-thus, if the rate per cent. be 5, deduct one-sixth from the interestjbfound at
6 per cent.-if 4, deduct one-third-if 7, add one-sixth-if 9, add one-half; and so on.
Note.-In working by rules II. and III., if the time consists of both months and days, get the interest for each
separately, and add the amounts together to obtain the whole interest.
Examples.
1. What is the Int. on $2,954 for 3 months, 10 days, at 6 pr. ct.?
By rule I.                   By rule II.                  By rule III.
2954 3 mos. are -T or I of a y'r, and  ~ of 3 mos. is 1~, and
6 10 d's are T~ or 3 of a y'r, then - of 10 d's is 1-, then
3mos. are I of y'r 4)177,24  x 6 =1-x2954 44,31 Int. 3 mos. 2954xl1-=44,31  Int. 3 mos.
10d's are of3mos. 9)44,31 3 x6 —x2954== 4,923 Do.10d's 2954x1-== 4,92,3~Do. 10d's.
4,921T          Ans. $49,23~              Ans. $49,23,31
Ans. $49,23 
268




COMMERCIAL CALCULATIONS.
2. What is the Int. on $3,670 from Mar. 1st, 1852, to July 11th, 1853, at 7 pr. ct.?
By rule I.              By rule II.                  By rule III.
3670               1853,    7,   11           3670x8 =293,60 Int. at6pr.ct
7               1852,    3,    1                             16 mos.
3)256,90 Int. 1 y'r       1 y'r 4 m. 10 d's time.  3670x13= 6,11,63 Int. at6pr
12) 85,631 ~" 4 mos.                                       _        ct., 10d's.
7,13-" 10 d's 1-x7=-9 x3670-342,53~ Int. 16m.       6)299,71,62 wholeInt. at
$349,66-14 Ans.   y        Tx7-= - x3670- 7, 1" 10 d's            6 pr. ct.
$349?66T  An&-Ans. $349,66~                 A dd   49,95,2_
Ans. $349,66,9 -1
3. What will be the Int. for 7 months, at 9 pr. ct., on $6,745,52?
6745,52x9=607,09,68   7 x9= —z- or 5-, and        6745,52x3l=236,09,32 Int. at
2)607,09,68 int. 1 y'r  5~ x6745,52-$354,13-I8- Ans.                 6 pr. ct.
6)303,54,84 "6 mos.                                     Add2 118,04,66
50,59,14;1 "I                                        Ans. 354,13-1
$354,13-o^ Ans.
4. What Int. will accrue on $2,184,25 for 210 days, at 12 pr. ct.?
2184,25x12-262,11,00   *By rule II. at 365 d's to a y'r.
2)262,11  Int. ly'r     ~ or 4xl2=^x2184,25-     2184,25x35=76,44,875 Int. at
$150,802-1 Ans.
6)131,05,5, 180d's       7Ans.                           ___
21,84,25 ", 30 d's
By rule II. at 360 d's to a y'r.       $152,897i5%~ Ans.
$152,89 -7^ Ans.   CO or - x 12=7 x2184,25=.
$152,,89-  Ans.
Note.-Add the principal and interest together to obtain the amount.
5. What Amount will be due Sept. 1st, 1853, on a Note of $16,844, at 8 pr. ct Int.,
given Mar. 1st, 1852?
16844x8=1347,52       1853,   9,    1            16844x9= 1515,96Int.at6pr ct.
2)1347,52 Int. 1 y'r  1852,   3,    1                      505,32 Add 
673,76;" 6 mos.      1 y'r 6 m. 0 d's time.            2021,28Int.at8pr ct
2021,28 whole Int. 1 x8-12x16844=2021,28 Int.           16844,00 Add princ'l
16844,00 principal    Add principal 16844,00            $18865,28Ans.
$18865,28 Ans.                   $18865,28 Ans.
* All short methods of computing interest for days assume 360 days as the year; making the calculation at so much per cent.
for 360 days; and on account of the ease of this mode, it is adopted almost exclusively, although 365 days is the legal year. The
above example is sufficient to show the difference in the two modes. As custom makes law, they will probably not long stand
opposed to each other.
269




COMMERCIAL CALCULATIONS.
II. THE PRINCIPAL, INTEREST, AND TIME BEING GIVEN, TO FIND THE RATE PER CENT.
RULE. Obtain the interest on the principal at 1 per cent.for the time given, and divide the
interest given by the interest obtained: the quotient will be the rate per cent. required.
Ex. D is worth $30,000.  At what per cent. must he loan his capital that his income
may be just $1,500 per annum?
Int. on $30,000 one year ( 1 pr. ct. is $300.
Then 1500-300= 5 pr. ct. Ans.
III. THE PRINCIPAL, INTEREST, AND RATE PER CENT. GIVEN, TO FIND THE TIME.
RULE. Obtain the interest on the principal for one year, month, or day, and divide the given
interest by the interest obtained: the quotient will be the time sought, either in years, months,
or days.
Ex. 1. In what time will $2,400 gain $360 Int., at 6 pr. ct.?
Int. on $2400 one year at 6 pr. ct. is $144.
Then 360   144=-2 years. Ans.
Ex. 2. How long must $1,000 be on Int. at 6 pr. ct. to gain $6,90?
Int. on $1000 one day at 6 pr. ct. is $0,16~.
Then 6,90  0,16R, or 20,70  0,50-412 days. Ans.
IV. THE TIME, INTEREST, AND RATE PER CENT. GIVEN, TO FIND THE PRINCIPAL.
RULE. Obtain the interest of one dollar for the given rate and time, and divide the given
interest by the interest obtained; and the quotient will be the principal.
Ex. What principal is required to gain $147 Int. in three years and a half, at 7 pr. ct.?
Int. on $1 for 31 y'rs at 7 pr. et. is $0,24,5.
Then 147,00   0,24,5= $600. Ans.
DISCOUN T.
Discount is such an abatement on a note, bond, bill, or book account, that the interest
on the remainder for the same length of time for which the discount is made, and at the
same rate per cent., will equal the discount.
It is ascertained by the following
RULE. Obtain the interest on $100 at the given rate and time; multiply the g ien Sum by
this interest, and divide the product by the amount of $100 at the same rate and time: the
quotient will be the discount.
The PRESENT WORTH is obtained by deducting the discountfrom the given sum, or amount.
Ex. 1. What is the discount on $6,000, at 6 pr. ct., for 90 days.
Int. of $100 @ 6 pr. ct. for 90 days is $1,50.
Ani't cc "  "   "     cc "  cc  c $101,50.
Then 6000 x 1,50=9000,00 —101,50=$88,66|-. Ans.
Ex. 2. What is the present worth of $1,675,50, due 2 years hence, discount at 9 pr. ci.
Int. on $100, for 2 y'rs, @ 9 pr. ct. is $18.
1675,50 x 18=30159,00   118=255,582, discount.
Ain't 1675,50
Less discount 255,582 8
$1419,913. Ans.
270




COMMERCIAL CALCULATIONS.
BANK DISCOUNT.
Bank dh,scount, or interest paid beforehand, is calculated in the same manner as interest.
Banks now generally include in their reckoning both the day when the note is discounted
and the day on which the time specified in it expires, which, with three days of grace,
makes the time for which discount is taken four days more than the time specified in the
note.
Ex. What is the bank discount, at 6 pr. ct., on a note for $1,200, payable sixty days
hence?
60+4=-64 days, time for which discount must be reckoned.
6 of 64=10-0 x 1200=12,80,0. $12,80. Ans.
DISCOUNT ON BILLS AND INVOICES.
Merchants are in the habit of deducting a certain per-centage from invoices and bills of
goods sold for ready pay. This is reckoned in the same manner as interest.
Ex. 1. A. purchases a bill of goods of B., amounting to $756, at a year's credit, but B.
offers to deduct 10 pr. ct. for ready pay. What amount is to be deducted?
756 x 10=$75,60. Ans.
Ex. 2. A. sells B. a bill of goods for $1,200, and allows him 5 pr. ct. for ready pay
What amount must A. receive?
1200 x 5=-60,00 discount.
1200-60=$1140. Ans.
Ex. 3. B. purchases of A. goods amounting to $1,800, and is to be allowed a deduction of 5 pr. ct. for Cash. But finding himself short of funds, pays $1,140, for which he
is to receive a discount off the bill, in the same proportion as if he had paid the whole
For what Ain't should he receive credit?
It is evident that he should be credited for such a sum, that, after making the 5 pr. ct,
discount therefrom, the remainder will be $1,140. Therefore 95: 100::1140: the answer
or, 1140 x 100= 114000-95==$1200. Ans.
Note.-This will be seen to be the correct answer, by comparison with Ex. 2: for in that Ex. $1,200, the Am't
of the bill, was considered as cancelled by the payment of $1,140. A very common way of working examples of
this kind is as follows: 1140X5 —57,00+1140=$1,197, Am't to be credited. But this is evidently incorrect; for
if $1,140 pays the whole debt in Ex. 2, then in this Ex. $1,140 should pay an equivalent sum.
By discounting off the face of bills, losses are frequently sustained without suspecting it.
This arises from the fact that the discount is not only made on the first cost of the goods,
but also on the gains. For instance, if a profit of 30 pr. ct. be made on any article of
merchandise, and then 10 pr. ct. be deducted, the gain, at first sight, would appear to be
20 pr. ct., but is in reality only 17 pr. ct.: in like manner, if 60 pr. ct. be added, and then
a discount made of 45 pr. ct., the apparent profit would be 15 pr. ct., while the real loss is
12 pr. ct.!! For proof, see the following:
Cost of goods        $100 1 Cost               $100
Add 30 pr. ct. profit  30   Profit 60 pr. ct.     60
Selling price         130   Selling price        160     This deception will be
Deduct 10 pr. ct. disc't 13  Discount 45 pr. ct.  72    creased rapidly as the pe
increascentae is made larger.
Cash price           $117   Cash price          $88
Gain 17 pr. ct.            Loss 12 pr. et
271




COMMERCIAL CALCULATIONS.
INSURANCE AND POLICIES.
Insurance is a contract by which one party engages, for a stipulated premium, to make
up a loss which another may sustain. The premium paid is also called insurance, and is
calculated in the same manner as interest.
Policy is the instrument by which the contract is effected.
Ex. 1. What is the insurance on $14,650, at 1l pr. ct.?
14650 x 1 —$219,75. Ans.
Ex. 2. If a policy be taken out for $7,500, at 5 pr. ct., what net amount is covered,
after paying insurance?
7500 x 5 =375,00:-then 7500-375= $7125. Ans.
Ex. 3. If the premium is 4 pr. ct., for what amount must a policy be taken out to cover
$6,144, together with the premium paid for insurance?
Note.-This question requires a solution entirely similar to Ex. 3 in Discount oin Billso
6144 x 100=614400   96= $6,400. Ans.
COMMISSION OR BROKERAGE.
Commission or Brokerage is an allowance of a certain per-centage to factors. brokers,
and other agents, for their services in buying and selling stocks, merchandise, &c. It is
obtained in the same manner as insurance.
Ex. A. sells for B. merchandise to the Ain't of $16,000, for which B. allows him 3 pr.
ct. Commission. How much must he receive?
16000 x 3=$480,00. Ans.
LOSS AND GAIN.
I. TO ASCERTAIN WHAT IS GAINED OR LOST PER CENT. IN BUYING AND SELLING GOODS.
RULE. Find by subtraction the gain or loss ot the articles sold (either on the whole amount,
or pr. box, bale, y'd, ~c.), annex two cyphers, and divide by the purchase price: the quotient
will be the gain or loss per cent.
Ex. 1. If I buy 50 Yds. of Broad Cloth at $5,25 pr. Yd., and sell it at $7 pr. Yd.,
what do I gain pr. ct.?
7,00-5,25=- 1,75 gain on a Yd.; to which annex two cyphers.
Then 175,00-5,25-331 pr. ct. Ans.
Ex. 2. Bought 1,200 Bbls. Flour at $4 pr. Bbl., and getting it damaged sold the whole
for $4,000; what did I lose pr. ct.?
1200 x 4= 4800-4000= $800 total loss.
Then 80000- 4800 = 16 loss pr. ct. Ans.
II. THE GAIN OR LOSS PER CENT. BEING GIVEN, TO ASCERTAIN THE WHOLE GAIN OR LOSS
ALSO TO ASCERTAIN AT WHAT PRICE MERCHANDISE MUST BE SOLD TO GAIN OR LOSE A STIPU
LATED PER CENT.
RULE. 1st. Multiply the cost by the rate per cent., and in the product point off two decz.
mal places. The result will be the whole gain or loss.
272




COMMERCIAL CALCULATIONS.
2d. If a gain, add it to the cost, and if a loss, deduct it therefrom, and you will obtain the
selling price.
Ex. 1. If I sell $5,000 worth of Mdse. at 331 pr. ct. advance, what do I gain?
5000 x 331-=$1666,66]  Ans.
Ex. 2. If I buy Pork at $8 pr. Bbl., what must be my selling price to make 20 pr. ct.
on the first cost?
8x20=1,60 gain pr. Bbl., and 8+1,60=$9,60 pr. Bbl. Ans.
III. To ASCERTAIN AT WHAT PRICE MERCHANDISE MUST BE BOUGHT IN ORDER TO SELL IT
AT A STIPULATED PRICE AND MAKE A CERTAIN RATE PER CENT.
RULE. Annex two cyphers to the selling price, and divide by one hundred increased by the
rate per cent., and the quotient will be the purchase price.
Ex. 1. I sell goods to the am't of $800, which includes 10 pr. ct. on the prime cost,
what was the prime cost?
800, annex two cyphers, 80000 —110=$727,27-L   Ans.
Ex. 2. In order to sell sugar at $7,50 pr. 100 lbs., and thereby make 15 pr. ct., what
must be my purchase price?'75000- 115=$6,52-~Q pr. 100 lbs. Ans.
EQUATION OF PAYMENTS.
The object of Equation of payments is to find the medium or average time for the pay
ment of several sums of different dates, or different terms of credit, or both.
RULE I. When the sums are of the same date, but having different terms of credit,
Multiply each sum respectively by the time it has to run, and divide the sum of the several
products obtained by the whole debt: the quotient will be the averaged time of credit.
Ex. A. purchases of B. goods amounting to $1,025, payable as follows-$200 in 3
months; $360 in 4 months; $300 in 5 months; and $165 in 6 months: but concludes to
give one note for the whole. At what time shall it be made payable?
Am't.    Time.    Product.           1025) 4530 (4 12'O~~
200   x   3   =    600                    4100        4 mos. 13 d's.  Ans.
360   x   4  =    1440                     430
300   X   5  =    1500                      30
165   X   6  =     990                       30
$1025               4530                    12900
2650
2050
600
RULE II. Multiply each respective sum by the time intervening between the date when the
FIRST amount falls due, and the date on which each sum falls due. Divide the sum of the
several products by the whole debt, and the quotient will be the average time of payment, to
be counted FORWARD from the date of the first amount falling due.
2 K                            273




COMMERCIAL CALCULATIONS.
Ex. A owes B. $2,000, for purchases at different dates, and on various credits, as below
stated. Required the equated time for the payment of the whole debt.
Statement from Book Ac't.
Date of purchase.  Amount.     Time of Cr.        When due.
Jan. 16   - - -    $300   - - - 3 mos. - - - April 16.
c   24   - - -     500   - - - 2     ("   - - - March 24.
Feb.   1  - - -     250   - - - 4     "    - - - June      1.
c    15  - - -     350   - - - 3     "    - - - May      15.
March 8   - - -     600   - - - 4     "       - - - July   8.
Statement arranged as an equation.
Due.            Amount.      Time (in days.)         Product.
March 24  - - -      500    x     00         =          0000
April 16  - - -      300    x     23         =          6900
May   15  - - -      350    x     52         =         18200
June   1  - - -      250    x     69         -         17250
July   8  - - -      600    x    106         =         63600
$2000                            ) 105950 (521 9 5 o days.
Then 53 days from March 24, is May 16. Ans.
RULE III. JMultiply each sum respectively by the time intervening between the date on which
it falls due and the date on which the LAST amount falls due. Divide the sum, of the several
products by the whole debt, and the quotient will be the equated time, to be counted BACKWARD
from the date of the last amount falling due.
Ex. Suppose I purchase goods at sundry times as follows:
Jan. 5 a bill of.$376,40 on a credit of 6 months.
Jan. 15 " "'  "  125,75 cc,  c<  cc  3   ~c
Feb. 1 " "    "  295,25 " "   cc  " 60 days.
Mar. 2 "c "   "  325,00 no credit: and on making the last purchase wish to give
my note for the whole. When must it be made payable?
Statement as an equation.
Due.            Amount.        Days.                Product.
July  5   - - -      376*   x     00         =          0000
April 15  - - -      126    x     81         =         ]0206
April 2     -   -    295    x     94        -= 27730
March 2   - - -      325    x    125         =         40625
$1122                              ) 78561 (70T — I days.
Then 70 days backward from July 5 is April 26. Ans.
RULE IV. BY INTEREST.    Calculate the interest on each sum respectively for the same
tzme that you would multiply it by in working by the preceding rules. Sum up the several
items of interest obtained, and find how long it will take for the whole debt to accumulate
that amount of interest: the result will be the equated time, to be counted forward or backward, according to the day from which you reckon.
NOTrE.-To show that this produces the same answer as the preceding rules, we will take the three examples
alroady given, working the first at 5 pr. ct. interest, the second at 7 pr. ct., and the third at 6 pr. ct.
* In working this equation we have omitted the cents when less than fifty, and when more than fifty called them a dollar
This vill usually be found s ifficiently exact.
274




COMMERCIAL CALCULATIONS
1. Example given under Rule I.
Amount.        Months.    Int. ( 5 per ct.
$200   -  -  -  3   -  -  -  2,50     Int. on $1025 one mo. is $4,27,1
360   -  -  -  4  -   -  -  6,00       Then 18,87,5. -4)27,1=4179T mos. or
300   -  -  -  5  -  -   -  6,25       4 mos. 13 days. Ans. as by Rule I.
165    -  -    6  -  -  -  4,12,5
$1025                       $18,87,5
2. Example given under Rule II.
Due.         Amount.    Days.    Int. (& 7 per ct.
March 24   -  -  500   -  -  00  -  -    0000
April 16   -  -  300   -  -  23  -  -   1,34,2
May   15   -  -  350   -  -  52  -  -   3,53,9
June    1  -  -  250   -  -  69  -  -   3,35,4
July    8  - -   600   -  - 106  -  - 12,36,7
For $2000          to gain $20,60,2 Int. it requires 53 days (nearly.)
Then 53 days from March 24 is May 16. Ans. as by Rule II.
3. Example given under Rule III.
Due.        Amount.     Days.   Int. ( 6 per ct.
July   5   -  -   376  -  -  00   -  -   0000
April 15   -  -   126  -  -  81   -  -  1,70,1
April  2   -  -  295   -  -  94   -  -  4,62,2
March 2    -  -  325   -  - 125   -  -  6,77,1
For $1122        to gain   $13,09,4 Int. 70 d's are required (fraction omitted.)
70 days backward from July 5 is April 26. Ans. as by Rule III.
FREMARKS.-In all the preceding rules we have reckoned the time fiom the date either of the first or last amount
falling due; but any other time previous to the first date, or succeeding the last, may be chosen if preferred. Thus,
in the Ex. given under Rule II., we might with equal propriety have reckoned the time from March 1st, in which
case there would have been 24 days' time for the first item, and the others increased proportionally: then, in the
result, the number of days obtained would have been counted forward from March 1st,
When there are a great number of small items to be equated, all those which fall due in one month are frequently summed up together and called due on the first of next month.
The days of grace (which are now almost universally allowed) may be added to the time of each item to be
equated, or the equation may be first worked, and then the addition of grace made. The latter mode is much the
easiest, and produces the same result.
COMPOUND EQUATION.
By Compound equation we ascertain at what time the balance of an account that con
tains both debits and credits becomes due.
RULE I. First find by simple equation the averaged time when the DEBITS and CREDIT
of the account fall due, without regard to their relation to each other.  Then multiply the
smaller side of the account, (whether it be the debit or credit,) by the number of days between
the days of equated time obtained, and divide the product by the balance of the account: the
quotient will be the time required for calculation.  If the EARLIER date of equated time be
275




COMMERCIAL CALCULATIONS.
affixed to the LARGER side, (whether debit or credit,) count the time BACK from the EARLIER
date; but if the LATER date be affixed to the larger side, count the time' FORWARD from the
LATER date, and you will obtain the day on which the balance becomes due.
Ex. 1. I have an ac't with Samuel Wells-Am'ts and times of payment as below
stated-and wish to know the equated time when the balance shall be paid.
Date.    Time to run.  Due.    Amount.  Date.    Time to run.  Due.   Amount
Jan. 4, -    2 mos. - Mar. 4, - $250    Jan. 1, -   6 mos. - July  1, - $500
Feb. 1, - 30 d's. - "      3, -    140      20,  - 60d's. - Mar. 21, -    200
cc 15, -   2 mos. - Apr. 15, -   450  Feb. 8, - 30 d's. - "      10, -   350
Mar. 2, -    1  "     -'"  2, -   100  Mar. 4, -    3 mos. - June 4, -   240
cc 25, -   2  "   - May 25, -    120
Total debits $940                     Total credits $1,410
Mode of operation.
Due.     Amount.     Days.     Product,  Due.    Amount.    Days.      Product.
Mar. 4, - 250       x    1  =     250   July  1, - 500       x  113     56500
cc   3, - 140     x    0   -     000   Mar. 21, - 200    x    11   =    2200
Apr. 15, - 450      x  43   -   19350    "   10, - 350    x    00   =    0000
"    2   - 100    x   30   =    3000  June 4, - 240      x    86   -   20640
$940                 22600 iMlay 25, -   120   x    76  -     9120
940)22600 (244, 24 days from Mar. 3 is             $1,410                88460
Mar. 27.                              1410) 88460 (62  4, 63 days from Mar. 10.
$940 due Mar. 27.                       $1410 due May 12.
From Mar. 27, to May 12, is 46 days.
Credits  1410) Smaller side. Days.     Bal.
Debits    940 (    940 x 46 ==43240 -470= 92 days, which, counted forward from
Balance  $470 S     May 12, bring us to Aug. 12. Ans.
Ex. 2. What is the equated time of payment for the Bal. of the following ac't.
Date.     Time.    When due.  Amount.   Date.     Time.    When due.  Amount.
Jan. 1, - 6 mos. - July     1, -   150   Mar. 8, - 2 mos. - May 8, -       150
Feb. 20, - 4 "      - June20, - 260      Apr. 3, - 3 mos. - July 3, - 340
Apr. 5, - 3 "       - July  5, - 325    May 6, - 30 d's.    - June 5, - 420
May 4,                May   4, - 550    Aug. 2, - 30 "      - Sept. 1, -   170
Total debits  $1,285-1                 Total credits  $1,080
Mode of operation.
Due.     Amount.     Days. Int. n 6 pr. ct.  Due.  Amount.  Days. Int. ( 6 pr. ct
July  1, -   150    -   58   -   1,45,0  May 8, -    150   -   00   -   0,00,0
June 20,     260    -   47   -  2,03,7  July  3, - 340     -    56   -  3,17,3
July  5, -   325    -   62   -  3,35,8  June 5, - 420      -   28    -  1,96,0
May 4,       550    -   00   -  0,00,0   Sept. 1, -  170   - 116    -   3,28,7
For $1,285         to gain $6,84,5     For   $1,080       to gain $8,42,0
interest, it requires 312a4- days.      interest, it requires 46't4 days.
32 days from May 4 is June 5.         47 days from May 8 is June 24.
$1285 due June 5.                     $1080 due June 24.
From June 5, to June 24, is 19 days.
Debit 1285 ) Smaller side. Days.    Bal.
Credit 1080(   1080 x 19=20520-. 205=1002-w~5; 100 days backward from June
-Bal  $205t  5 give Feb. 25. Ans.
Bal   $2()05                -        276
276




COMMERCIAL CALCULATIONS.
RULE II. Multiply each sum respectively by the time intervening between the date of the
first amount falling due and the date on which said sum falls due. Find the sum of the
several products thus obtained on the debit side, and also on the credit side-subtract one from
the other, and divide their difference by the balance of the account, and you will have the time
required for calculation.
Then, if the balance of the account, and the difference between the sums of the products,
both fall on the SAME side of the account, (i. e. both on the debit or both on the credit side,)
reckon this time FORWARD from the date on which the first amount becomes due; but if they
fall on OPPOSITE sides, (i. e. one on the debit, and the other on the credit,) reckon it BciKWARD from the same date: the result will be the equated time for the payment ofJihe balance.
This rule may also be worked by INTEREST.
NOTE.-We give below the same examples as are given to the preceding rule.
Example 1.
Due.     Amount.     Days.    Product.  Due.     Amount.    Days.     Product.
Mar. 4, - 2          50  x  1      50  July  1, - 500     x   120  =   60000
c    3, - 140     x         0 =  000  Mar. 21, - 200     x    18  -     3600
Apr. 15, - 450     x   43 - 19350       "   10, -   350   x     7=      2450
2, - 100         x   30=       3000  June 4, - 240      x    93  =   22320
$940                22600   May 25, -    120   x   83   =    9960
470) 75730 (161c                     $1,410                98330
161 days counted forward from Mar. 3 give,           940                22600
for the equated time, Aug. 11. Ans.*              $470                75730
Example 2.
Due.     Amount.    Days. Int. a 6 pr. ct. - Due.  Amount.  Days. Int. W 6 pr. ct.
July  1, -   150    -   58   -  1,45,0  May 8, -     150   -    4   -,10,0
June 20, -   260    -   47   -  2,03,7  July  3, - 340     -   60   -   3,40,0
July  5, -   325    -   62   -  3,35,8  June 5, - 420      -   32   -   2,24,0
May 4, -     550   -   00   -   0,00,0  Sept. 1, -   170   -  120   -   3,40,0
$1,285               $6,84,5           $1,,080              $9,14,0
1,080 For $205 to gain $2,29,5 Int. it requires 677-T days.  6,84,5
$205 67 days backward from May 4, is Feb. 26. Ans.*        $2,29,5
EQUATION APPLIED TO THE STORAGE OF PROPERTY.
Formula 1.                             Formula 2.
Received and delivered on ac't of Am'ts received and delivered the same as in
S. B. & Co., sundry parcels of   formula 1.
flour, as follows:                         Received.              Delivered.
Bbls. Days. Prod.      Bbls. Days. Prod.     Bbls. Days.  Prod.
Jan. 22, Received 125 x 9 - 1125 Jan.22, 125 x 37=  4625 Feb. 1, 545 x 27- 14715
"  31, Received1000             " 31,1000x28=28000     " 15,312x13=     4056
1125 x1 = 1125 Febl8, 420 x 10=   4200  " 25,258 x 3=     774
Feb. 1, Delivered 545                                    " 28 220x 0=      000
580 x 14=8120                   19545       1335       19545
" 15, Delivered 312
268 x 3= 804               30)   280
C   18, Received 420                            576;" 25, Delivered688 x 7=4816     According to the above statements there were re25 Delivered 258
4      3=1290ceived 1545 Bbls. from Jan. 22, to Feb. 28, and
43 Delivered 220x 30172890 during the same time 1335 Bbls. were delivered,
I 28, Delivered 2'20 3~0)1728~0 leaving still in store 210 Bbls.
Balance in Store  210       576                                    (Continued.)
* The slight differences in the answers obtained by this and the preceding rule are occasioned by the fractions that occur in wolking by Rule I.
277




COMMERCIAL CALCULATIONS.
In formula 1, we multiply the number of Bbls. by the days they are in store, and add
the several products together, which produces 17280, the number of Bbls. on which
storage should be charged for one day; then this divided by 30 gives 576, the number
on which to charge storage for one month.
In formula 2, we multiply the number of Bbls. received and the number delivered,
(each separately,) by the days from the time of reception or delivery, to the time the
average closes, (Feb. 28,) and subtract the sums of the products, which produces 17280,
the same as before.
EXCHANGE ON GREAT BRITAIN.
Table showing the nominal par value of sterling money.
~  s.  d.         $   cts.  m.      s.  d.         $   cts.  m.
100         =     4, 44) 44    -    1  0    -     0) 22) 22
15  0     -     3, 33,3 3            9    -         16, 67
10 0 0          2, 22, 22            6     =        11, 11
5  0     =     1, 11, 11            3    =          5, 56
2  6     =         55, 56           2    =          3, 70
1  3              27, 78            1    =          1, 85
I. To REDUCE STERLING TO ITS NOMINAL PAR VALUE IN FEDERAL MONEY.
RULE I. Bring the shillings and pence to the decimal of a pound, and annex them to the
pounds; then multiply by 40 (the sixpences in a pound) and divide by 9 (the sixpences in a
dollar): the quotient will be the answer in dollars and decimals of a dollar.
RULE II. Find the number of sixpences in the shillings and pence, and, after multiplying
the pounds by 40, add them to the product, and divide by 9; then get the value of the odd
pence separately, and add it to this quotient.
Ex. 1. What is the nominal par value in federal money of ~1872 lls. 5d.?
1st method.                           2d method.
121 5,00000                          1872
2~kon46                    -~~~~~74880
1872)57083                               22 sixpences=11s.
40
-______ 4~ ~9) 74902
9) 74902,83320                           8322,44,44
$8322,53-g7~ 2 Ans.                          9,26= 5d.
$8322,53 7oo Ans.
NOTE.-To obtain the real value, the premium of exchange at the time of reckoning must be added.
Ex. 2. What is the value in federal money of a bill of exchange for ~879, 13s. 10d.,
then the rate of exchange is 9 pr. ct. premium on sterling money?
12 10,000                            879
2G0 13,833                              40
879,6916                            35160
40                              27 sixpences=13s. 6d
9) 35187,6640                        9) 35187
3909,74,04 par value.                 3909,66,66
9 pr. ct. prem.                    7,41==4d.
351,876636                            3909,74,07 par value.
3909,7404                               351,87,66 add prem.at 9 pr.ct.
$4261,61l4-  Ans.                      $4261,61 7 3 Ans.
278




COMMERCIAL CALCULATIONS.
II. To REDUCE FEDERAL TO ITS NOMINAL PAR VALUE IN STERLING MONEY.
RULE. Multiply by 9 (the sixpences in a dollar) and divide the product by 40, (the s=xpences in a pound,) and the quotient will be the answer in pounds, and decimals of a pound,
which reduce to shillings and pence.
Ex. 1. What is the nominal par value in sterling money of $8,322,54?
8322,54                ~1872,571
9                         20
40) 74902,8~6                  s. 11,420
~1872,571                         12
d. 5,040 ~1872, 11s. 5d. Ans.
NOTE. —The real value is as much less than the nominal par value as the premium of exchange at the time.
Ex. 2. The net proceeds of a sale amount to $4,261,62, which a factor wishes to remit
to his consignor in England. For what amount will the bill of exchange be drawn, paying 9 pr. ct. premium on the same?
4261,62          109: 100:: 958,8645
9                            100
4;0) 38354,5\8               109) 95886,4500
par value  ~958,8645                     ~879)6922=~879,13s. 10d. Ans.
INDIRECT EXCHANGE.
Owing to the difference in the rates of exchange between different countries, it is frequently more advantageous for a person wishing to remit funds to any foreign country, to
purchase a bill on some other place, and direct his agent there to invest the proceeds in
bills on the place to which he wishes to make the remittance. This is called indirect
exchange, or arbitration of exchange, and will be readily comprehended by the following
examples:
Ex. 1. Suppose the exchange of Philadelphia on London to be 10 pr. ct premium, of
Do. on Hamburg 351 cents pr. mare banco, and of Hamburg on London 131 marcs
banco pr. pound sterling, and a merchant wishes to remit ~5,000 to London. How much
would he gain by an indirect remittance through Hamburg, if his agent at that place
charge ~ pr. ct. commission for procuring the bill on London.
Direct to London.                To London through Hamburg.
5000                               ~  m.b.pr.~
40                             5000 x 131 =67500 marcs banco
9) 200000                                         337,5 Corn. @ 2 pr. ct.
$22222,22,2 par.                              67837,5
2222,22,2 prem. ~ 10 pr. ct.      m. b. cts.pr.m.b.
$24444,44,4                       67837,5 x 35 =$24082,31,2
Cost of direct exchange  $24444,44,4
"  " indirect  "        24082,31,2
Ans. $362,13,2
Ex. 2. An agent in Havana (Cuba) wishes to remit to his principal, in Paris, the
amount of funds in his possession, $4,000. How much more will the principal receive
279




FOREIGN COINS AND MONEYS OF ACCOUNT.
(after the expenses of exchange have been deducted) by an indirect remittance througn
New York, than by a bill direct on Paris; provided 1 dollar Havana currency be equal to
5 francs, and the exchange of Havana on Paris be 1 pr. ct. prem., of Do. on New York
4 pr. ct. prem., and of New York on Paris 5 francs 30 centimes pr. dollar, and the agents
in Havana and New York each be allowed I pr. ct. corn. for doing the business?
To Paris through New York.                    To Paris direct.
$4000 Havana cur.                   $4000 Havana cur.
20 agent's corn. at Hav.             20 agent's corn. at Hav.
3980                                 3980
153,08 prem. at 4 pr. ct.              5 francs pr. dollar.
$3826,92 ain't of bill on N. Y.      19900
19,13 agent's corn. atN. Y.         197,03 prem. at 1 pr. ct.
3807,79                     Francs 19702,97 amin't of bill on Paris.
5,30 francs pr. dollar.
11423370                    Francs 20181,29 am't rec'd. via N. York.
1903895                        1" 9702,97      "   "    direct.
Francs 20181,2870 am't of bill on Paris.  "  478,32  Ans.
FOREIGN COINS AND MONEYS OF ACCOUNT.*
Moneys of Account are those denominations of money in which accounts are kept, and
sales and purchases usually effected. In general, money of account is represented by coin
of the country, bearing the same name and equal in value with it; but in some few cases
it is fictitious, that is, not represented by any coin of the country of corresponding name
or value; and in other cases, of more frequent occurrence, it is (owing to excessive issues
of paper currency) depreciated in value much below that of the coin of the same name.
The subjoined table exhibits the moneys of account of the principal commercial nations
of the world. In every case where the money of account is represented by coin of equal
value, the intrinsic value of the principal coin is given, estimated according to the United
States Mint valuation of the metal (gold or silver) of which the coin is made; and an
approximate value is given when the money of account is fictitious, or represented by a
depreciated paper currency.
The valuation of foreign moneys by comparison of the quantity of pure gold or silver
in their coins, with the quantity of these metals in the coins of our country, gives the real
par of exchange between the United States and these countries. Different results will,
however, frequently be arrived at by comparing respectively the gold and silver coinages
of two countries, inasmuch as the relative values of gold and silver at their mints are
various. Thus, the Louis d'or, or French 20 franc piece, of gold, containing 89.55 grains
of pure gold, and the United States Eagle, or gold piece of ten dollars, containing 232.2
grains of pure gold, the Louis d'or is worth, in the currency of the United States, $3.85.64,
and 1 franc of gold is worth 19.282 cents.-20 francs of silver, containing 1386 grains of
pure silver, and 10 silver dollars of the United States, containing 3712.5 grains of pure
silver, 1 franc of silver is worth, in the currency of the United States, 18' cents. There
is, therefore, a difference between the relative values of gold and silver in the two countries, of about 3.3 per cent.
Where both of the precious metals are used for the current coins of two countries, the
* For this articla on Foreign Coins and Moneys of Account, which  I believe to be more ftll and correct thlan any previously
published ir this country, I am  indebted to W. Vogdes, Esq., Professor of iMathematics in the Central High School of Phila
delphia. and author of the United States Arithmetic, for which work it was prepared.
280




FOREIGN COINS AND MONEYS OF ACCOUNT.
real par of exchange may be said to range between the two values of their moneys estimated by comparing respectively their gold and silver coinages. The most advantageous
mode of liquidating indebtedness will, of course, always be chosen; and in case of the
indebtedness of the one country, a remittance will be made in gold, or should the
other country be the debtor, the remittance will be in silver.
In England, the country with which the United States have the most extensive commercial transactions, the relative Mint valuation of silver to gold is not based upon the
market values of the precious metals; but silver is over-valued in order to keep this coinage
from being sent abroad: at the same time it is only designed to serve the purpose of small
change, being a legal tender for the payment of debts to the amount of only ~2 st'g.
In estimating the real par of exchange with England, we have, therefore, to compare only
the gold coinages of the two countries, which comparison gives $4.86 for the value of the
Sovereign or Pound Sterling. The nominal par of exchange ($44) between these two
countries is retained, in quoting rates of exchange, simply because it is difficult to effect a
change in the customs of nations or communities, even though such a change may be of
undoubted utility.
UNITED KINGDOM OF GREAT BRITAIN AND IRELAND.
Accounts are kept in pounds, shillings, pence, and farthings. Prices of articles are
also not unfrequently quoted in guineas.
4 farthings (qr)=l1 penny, (d)         12 pence  =-1 shilling, (s)
20 shillings  =1 pound sterling, (~ stg.) 21 shillings ==1 guinea, (g)
The sovereign, or pound stg. in gold, is worth $4.86 United States currency. This is
the true par of exchange; the nominal par is $44, which was established many years ago.
FRANCE.
Accounts are kept in francs and centimes. 100 centimes (c)=l franc (f)
The franc in silver is worth 182 cts. United States currency.
BELGIUM.
Accounts are kept in florins or guilders, and centimes or hundredths.
The florin, in silver, is worth a trifle over 40 cts. United States currency.
The coinage of Belgium, since 1832, has been similar, in name and value, to that of
France.
HOLLAND.
Moneys of account same as in Belgium.
Bremen.
Accounts are kept in current rix-dollars, grotes, and schwares.
5 schwares= — 1 grote, 72 grotes==1 rix dollar current=71- cts. United States currency.
The old rix-dollar (silver)= 81.45 cts., that since 1840=71.4 cts. United States currency.
Hamburg.
Accounts are kept in marcs, sols or schillings, and pfenings, currency or lubs, (meaning
of'Lubeck.")
12 pfenings= 1 schilling,          16 schillings= 1 marc.
The mare lubs or currency, which is a silver coin,=-281- cts. United States currency.
The mare banco, which is an imaginary money, based upon certificates of deposit of
bullion and jewelry in the bank of Hamburg, fluctuates 2 or 3 per cent. above or below
its par value, which is 23 per cent. more than the mare currency, or about 35 cts. United
States currency.
Accounts are also sometimes kept, particularly in exchanges, in pounds, schillings, and
pence, Flemish.
12 grotes or pencel= schilling       20 schillings=1 pound
1 pound Flemish, banco= 71 mares banco.
2 L                           281




FOREIGN COINS AND MONEYS OF ACCOUNT.
DENMARK.
Accounts are kept in rix-dollars, marcs, and skillings.
16 skillings=l1 marc,        6 marcs==1 rix-dollar.
The new rix-dollar, or rigsbank dollar (silver) is worth about 52- cts. United States
currency. The money used in commercial transactions is bank money, which is commonly
at a heavy discount.
NORWAY.
Accounts are kept in rix-dollars species and skillings.
120 skillings= 1 rix-dollar species.
Value of the species dollar (silver) in United States currency $1.05, Norway has no
gold coinage.
SWEDEN.
The currency of Sweden consists almost entirely of paper money, of which there are
two descriptions, the one issued by the government bank, called riksgald, the other issued
by the national bank, called banco, the latter being worth 50 per cent. more than the
former.
Accounts are kept in rix-dollars, skillings, and rundstycks, either riksgald, or banco.
12 rundstycks=1 skilling,         48 skillings-1 rix-dollar.
The value of the specie dollar (silver) or coin of the realm, in the currency of the
United States, is $1.06+: that of the paper money fluctuates, but may be said to be, of
the rix-dollar banco 37.- cts.; of the rix-dollar riksgald 25 cts.
RUSSIA.
Prior to the year 1840, accounts were kept in paper roubles, 3-1 of which were equal to
1 silver rouble: from that period the silver rouble, and the copec of one hundredth part its
value, have been adopted by law as the moneys of account.
Value of the silver rouble in the currency of the United States, 75 + cts.
PRUSSIA.
Accounts are kept in thalers or dollars, silver grochen, and pfenings.
12 pfenings=1 silver grosch,     30 silver grochen=-1 dollar.
The value of the dollar (silver) in the currency of the United States, is 69 +cts.
AUSTRIA.
Accounts are kept in florins and kreutzers. 60 kr. =1l florin.
The florin (silver) is worth, in the currency of the United States, 48- cts.
Venice.
Accounts are kept in lire divided into 100 centesimi. These are imaginary moneys, of
the value of the French franc and centime respectively.
SARDINIA.
Account+ are kept in lire and centesimi or hundredths; corresponding in value with the
French franc and centime respectively.
The gold and silver coinages also correspond in value with those of France; differing
only in name.
TUSCANY.
Accounts are generally kept in pezze (or dollars) of 8 rials, soldi di pezza and denart
di pezza.
12 denari di pezza=1 soldo di pezza,  20 soldi di pezza=l1 pezza of 8 rials.
But for transactions of small amount, accounts are kept in lire, soldi, and denari.
12 denari==1 soldo,       20 soldi==1 lira,
5z lire=l pezza of 8 rials (silver)=90+cts., currency of the United States.
282




FOREIGN COINS AND MONEYS OF ACCOUNT.
PAPAL STATES.
Accounts are kept in scudi (or crowns) and bajocchi.
100 bajocchi, or 10 paoli=l1 scudo (silver)==$1.00.6 currency of the United States.
Payments of greater amount than 5 scudi are made in paper money, which, not being
redeemable in specie on demand, is uniformly at a discount.
NAPLES.
Accounts are kept in ducati and grani. 100 grani, or 10 carlini=l ducat.
Value of the ducat (silver) in United States currency, a trifle under 79 cts.
SICILY.
Accounts are kept in oncie, tari, and grani.
20 grani=1 taro,             30 tari=l1 oncia.
1 oncia=3 ducati of Naples,   1 taro=1 carlino of Naples.
The oncia (gold)=$2.48- United States currency.
SPAIN.
Accounts are kept, at Cadiz, Malaga, and in most of the provinces of Spain, in rials of
old plate, quintos and maravedis.
2 maravedis=l1 quinto,        16 quintos=1 rial of old plate.
105 rials of old plate ==  silver dollar, or $1 United States currency.
At Barcelona accounts are kept in libras, sueldos, dineros and mallas.
2 mallas=1 dinero,      12 dineros=l1 sueldo,     20 sueldos=l1 libra.
The libra is likewise divided into rials de plata Catalan, of 3 sueldos each, and into
rials ardites, of 2 sueldos each.
1 libra=-8I silver dollar, or 531 cts. United States currency.
PORTUGAL.
Accounts are kept in milrees and rees. 1000 rees=1 milree.
In notation the milrees are separated from the rees by a crossed cypher, (~) and the
milrees from the millions of rees, by a colon (:)-thus, 5:400E300 rees=5,400 milrees
and 300 rees.
1 milree or crown (silver)=$1.12 United States currency.
GREECE.
Accounts are kept in drachme and lepta. 100 lepta-=1 drachme.
Value of the drachme (silver) in United States currency 16.6 cts.
TURKEY.
Accounts are kept in piastres, paras, and aspers.
3 aspers=1 para,           40 paras=1 piastre.
Some foreign merchants resident in Turkey reckon 80, others 100 aspers to the piastre,
in their accounts.
The value of the piastre (silver) was depreciated from 60 cts. currency of the United
States, in 1764, to 3 cts. in 1832. Its present value is about 3.8 cts. Its commercial
value is about g- of a dollar.
EGYPT.
Accounts are kept as in Turkey. The piastre (silver)=4.8 cts. United States currency.
CAPE OF GOOD HOPE.
Accounts are kept in pounds, shillings, pence, and farthings, sterling; or in rix-dollars,
schillings, and stivers.
6 stivers=l schilling,      8 schillinos=l rix-dollar=ls. 6d. stg.
283




FOREIGN COINS AND MONEYS OF ACCOUNT
MAURITIUS.
Accounts are kept in dollars and cents (or hundredths) currency. The current dollar or
dollar of account (fictitious money) is worth 4 shillings stg., when exchange is at par.
The dollar of the United States is valued at $1.08~ cts., currency.
EAST INDIA COMPANY S TERRITORIES.
Accounts are kept in Company's rupees, annas, and pice.
12 pice=e1 anna,           16 annas=l1 Company's rupee.
Value of the Company's rupee, (silver) in United States currency, 44- cts.
Notation. 1,00,000 (100 thousand)=l lac,  1,00,00,000 (10 millions) —I crore.
JAVA.
Accounts are kept in florins and centimes, as in Holland.
Manilla.
Accounts are kept in dollars and rials 8 to the dollar.
The dollar (Spanish)=the dollar of the United States.
Sydney, J. S. W.
Accounts are kept in sterling money.
Canton.
Accounts are kept in taels, mace, candarines, and cash.
1 tael=10 mace=100 candarines=1000 cash.
The cash is the only money coined by the Chinese government, and is made of a mixture of copper and lead. It is generally worth more than its nominal value, and when
much in demand for change, a tael will sometimes purchase only 750.
Chinese is converted into United States money of account at the rate of 72 candarines
per dollar; but the specie dollar of the United States generally commands a premium of
3 to 5 per cent. on this valuation.
BRITISH PROVINCES OF NORTH AMERICA.
Accounts are kept in pounds, shillings, pence, and farthings, Halifax currency. The
pound =$4 United States currency.
4 farthings=l penny,   12 pence=l shilling,  20 shillings=l pound.
BRITISH WEST INDIA COLONIES.
In these islands accounts are kept in pounds, shillings, pence, and farthings, of the same
relative value as in England; but the value of the pound currency as compared with the
pound sterling, varies very much in the different islands, and is in all cases less. The following values are affixed to the currencies of the respective islands:-~100 stg. =~135 of Barbadoes=~140 of Jamaica=~175 of the Windward islands, except Barbadoes=~200 of
the Leeward islands. But exchange on England, in these several islands, is generally at
from 10 to 20 per cent. premium on the values above given. Thus it would require about
~160 currency of Jamaica, to purchase a bill of exchange on London for ~100 stg.
CUBA AND PORTO RICO.
Accounts are kept in Spanish dollars and rials of plate 8 to the dollar. The dollai
corresponds in value with the dollar of the United States.
ST. DOMINGO.
Accounts are kept in dollars and centimes or hundredths.
The dollar (silver)=about 331 cts. United States currency. In January 1845, $2.75
currency =$1 United States currency.
284




FOREIGN COINS AND MONEYS OF ACCOUNT.
MEXICO.
Accounts are kept in dollars and rials.
8 rials=l dollar (silver)=that of the United States.
VENEZUELA) NEW GRENADA, AND ECUADOR.
Accounts in these republics, formerly united under the name of Colombia, are kept in
dollars and rials 8 to the dollar.
The coinage of these States is very irregular in value; some dollars (silver) being worth
rather more than the dollar of the United States; some not more than - its value; but
most being of less value than our coin.
BRAZIL.
Accounts are kept in milrees and rees currency. 1000 rees=-1 milree.
In notation the milrees are separated from the rees by 11.
The piece of 111200 rees (silver)=99.4 cts. United States currency.
The currency of Brazil is chiefly paper and copper, redeemable in silver only at a very
great discount: the rate varying very much in different provinces, and at diffeient times
in the same province. At Rio Janeiro, in December 1844, Spanish dollars were worth
211040 rees.
JMonte Video.
Accounts are kept in dollars currency, rials and centesimos.
100 centesimos==1 rial,          8 rials=l dollar currency.
The dollar of account or currency=83- cts. United States currency.
There is no paper currency.
Buenos Ayres.
Accounts are kept in dollars currency and rials 8 to the dollar.
The value of the dollar currency fluctuates very much. In December 1843, it was
worth 61 cts., United States currency, and it rarely exceeds 8 cts. in value.
CHILI.
Accounts are kept in dollars and rials 8 to the dollar.
The dollar (silver) is worth about $1.01 United States currency, but is generally estimated to be of equal value with it.
PERU.
Accounts are kept in dollars and rials 8 to the dollar.
The dollar (silver) is about equal in value with that of Chili, and the same remarks
apply to it. There is a duty of 5 per cent. on dollars exported.
285




FOREIGN COINS AND MONEYS OF ACCOUNT.
FOREIGN     COINS MADE      CURRENT IN       THtE  UNITED     STATES, AND
THEIR VALUES AFFIXED BY THE SEVERAL ACTS OF CONGRESS
GOLD COINS
Law of June 28, 1834.
RATE          APPROXIMATE VALUES OF COINS
FINENESS
PER DWT.             AT RATES GIVEN.
PORTUGAL       22 carats   94.8 cts       Moidore of 1705      $6.59
BRAZIL...5                    No coin of this fineness.
SPAIN M       20    t ad6 Doubloon of 1810-24 $15.50
MEXICO         0 carats and  89.9 cts..     "     of Republic $15.55
COLOMBIA           grains )                        of Bogota  $15.61
Law of March 3, 1843.
GREAT BRITAIN   9 4..5 94.6 cts..    Sovereign, of Victoria  $4.86
FRANCE          8..   92.9 cts... Napoleon, or 20 francs  $3.85
SILVER COINS.
Law of June 25, 1834.
VALUE
FINENESS. WEIGHT.                     REMARKS.
OF EACH.
Dollar of                                   Intrinsic value of a dollar of
CHILI            2 1. 415 grs.. 100 cts.  Chili, about 101 cts.; of CenCENT. AMERICA.   2                      (   tral America, about 100 cts.
BRAZIL. Dollars restamped in Brazil, same as above.
Law of March 3, 1843.
Pillar dollar of  1
PAIN                                      These dollars are generally
and dollar of     -8. 415 grs.. 100 cts.  worth rather more than the
MEXICO                                          h re mr t
PERU                                        value affixed.
BOLIVIA        J
5 Franc piece E     0. 384 grs.  93 cts  The value affixed is very
of FRANCE      CT000 *     grs.. I  cs'   nearly the intrinsic worth.
VXLUE    OF FOREIGN      MONEYS OF      ACCOUNT, IN      COMPUTATION AT
THE CUSTOM-HOUSES IN THE UNITED STATES, AS FIXED BY ACT
OF CONGRESS.
By Law of March 3, 1843.                  By Previous Laws.
Thaler of Prussia        =      681 c. Franc of France       _      18-~o c.
Milree of Portugal       =   $1.12     Austrian Guilder      =      48     c
Rix-dollar of Bremen     =      78- c. Denmark Rix-dollar     =   $1.00
Thaler of Bremen, 72 grotes =   71  c. Pound Stg. Great Britain =  $4.84
Milree of Madeira        =   $1.00       "    of Halifax     =    $4.00
"   of Azores           =     831 c.  "     of Jamaica     =    $3.00
Marc banco of Hamburg    =      35 c. Pezza of Leghorn       -      90T- ce
Rouble of Russia          =     75 c. Ducat of Naples        =      80 c.
Rupee of British India   =      44- c. Rix-dollar of Prussia  =     68-2-o c.
Rial of Plate of Spain  -    10 c.
Ounce of Sicily       =   $2.46
286




TIME TABLE. No. 1.
January.  February.  March.    April.    May.      June.     July.   August.  September.  October.  November.  December.
1st month.  2d month.  3d month.  4th month.  5th month.  6th month.  7th month.  8th month.  9th month.  10th month.  11th month.  12th month.
1        1     32   1    60   1    91   1   121   1   152  1    182  1   213   1   244   1   274   1   305   1   335
2     22       33   2    61   2    92   2   122   2   153  2    183  2   214   2   245   2   275 2     306   2   336
3     33       34   3    62   3    93   3   123   3   154  3    184  3   215   3   246   3   276   3   307   3   337
4     44       35   4    63   4    944      124   4   155  4    185  4   216   4   247   4   277   4   308   4   338
5     5   5    36   5    64   5    95   5   125   5   156  5    186  5   217   5   248   5   278   5   309   5   339
6     66       37   6    65   6    96   6   126   6   157  6    187  6   218   6   249   6   279   6   310   6   340
7     77       38   7    66   7    97   7   127   7   158  7    188  7   219   7   250   7   280   7   311   7   341
8     8   8    39   8    67   8    98   8   128   8   159  8    189  8   220   8   251   8   281   8   312   8   342
9     99       40   9    68   9    999      129   9   160  9190      9   221   9   252   9   282   9   313   9   343
10    10 10     41 10     69 10    100 10    130 10    161 10    191 10   222 10    253 10    283 10    314 10    344
11    11 11     42 11     70 11    101 11    131 11    162 11    192 11   223 11    254 11    284 11    315 11    345
12    12 12     43 12     71 12    102 12    132 12    163 12    193 12   224 12    255 12    285 12    316 12    346
13    13 13     44 13     72 13    103 13    133 13    164 13    194 13   225 13    256 13    286 13    317 13    347
~    14    14 14     45 14     73 14    104 14    134 14    165 14   195 14    226 14    257 14    287 14    318 14   348
2^   15    15 15     46 15     74 15    105 15    135 15    166 15    196 15   227 15    258 15    288 15    319 15    349
16    16 16     47 16     75 16    106 16    136 16    167 16    197 16   228 16    259 16    289 16    320 16    350
17    17 17     48 17     76 17    107 17    137 17    168 17    198 17   229 17    260 17    290 17    321 17    351
18    18 18     49 18     77 18    108 18    138 18    169 18    199 18   230 18    261 18    291 18    322 18    352
19    19 19     50 19     78 19    109 19    139 19    170 19   200 19    231 19    262 19    292 19    323 19    353
20    20 20     51 20     79 20    110 20    140 20    171 20    201 20   232 20    263 20    293 20    324 20    354
21    21 21     52 21     80 21    111 21    141 21    172 21    202 21   233 21    264 21    294 21    325 21    355
22    22 22     53 22     81 22    112 22    142 22    173 22    203 22   234 22    265 22    295 22    326 22    356
23    23 23     54 23     82 23    113 23    143 23    174 23    204 23   235 23    266 23    296 23    327 23    357
24    24 24     55 24     83 24    114 24    144 24    175 24    205 24   236 24    267 24    297 24    328 24    358
25    25 25     5625      84 25    115 25    145 25    176 25    206 25   237 25    268 25    298 25    329 25    359
26    26 26     57 26     85 26    116 26    146 26    177 26    207 26   238 26    269 26    299 26    330'26    360
27    27 27     58 27     86 27    117 27    147 27    178 27    208 27   239 27    270 27    300 27    331 27    361
28    28 28     59 28     87 28    118 28    148 28    179 28    209 28   240 28    271 28    301 28    332 28    362
29    29            29    88 29    119 29    149 29    180 29   210 29    241 29    272 29    302 29    333 29    363
30    30            30    89 30    120 30    150 30    181 30   211 30    242 30    273 30    303 30    334 30    364
31 31 ______31 90 ______31 151                              31 212 31 243 ____           31 304              31 3651
To find the time from  a given date to any other date in the same year.-Subtract the sum standing opposite the earlier from  the sum opposite the later date.




TIME TABLE. No. 2.
a i  To  Jan.  Feb.  March.  April.  May.  June.  July.  August.  Sept.  Oct.  Nov.  Dec.
January.  365   31   59   90   120 151   181 212   243 273    304 334-l
February.  334 365    28   59    89 120   150 181   212 242    273 303
March..  306 337   365   31    61  92   122 153    184 214   245 275
April...  275 306   334 365    30   61   91 122    153 183   214 244
May...  245 276    304 335   365   31   61   92   123 153   184 214
June.     214 245    273 304   334 365    30   61    92 122   153 183
July...  184 215   243 274   304 335   365   31    62   92  123 153
August..  153 184   212 243   273 304   334 365     31   61   92 122
September  122 153    181 212   242 273   303 334    365   30   61   91
October.   92 123    151 182   212 243   273 304    335 365    31   61
November    61   92   120 151   181 212   242 273    304 334   365   30
December    31.  62    90 121   151 182   212 243    274 304   335 365
This table will'be found very convenient for ascertaining the number of days between
any two dates not more than a year distant; also for ascertaining with accuracy and de
spatch the time when notes, drafts, &c., fall due.
Each of the numbers in the table shows the length of time (in days) from any day of
the month standing opposite to it on the left, to the corresponding day of that monlh which
is over it.
Examples.
What is the number of days from March 15th to Nov. 15th?
Opposite March, and under Nov., we find 245, the number required.
What is the length of time from May 4th to August 16th?
Opposite May and under August is the number 92, showing the days from May 4th to
August 4th. To August 16th it is 12 days more, which, added to 92, give 104, the
answer.
How many days from December 25th to June 12th?
Opposite December and under June is 182, the number of days from December 25th
to June 25th; but to June 12th is 13 days less, which, deducted from 182, gives 169,
the answer.
If a note be drawn July 14th, at 90 days, when will it fall due, grace included?
In the line of figures opposite July, seek that number which is nearest in amount to the
number of days for which the note is drawn. This is found to be 92, which stands under
October, showing that 92 days, from July 14th, brings the time to October 14th, to whizI
add one day, (the excess of 93 over 92,) and you have October 15th, answer.
288
















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