AN INDUCTIVE AND PRACTICAL TREATISE ON BOO0K-KEEPING BY SINGLE AND DOUBLE ENTRY, DESIGNED FORl COMMERCIAL INSTITUTES, PRIVATE STUDENTS, AND PRACTICAL ACCOUNTANTS: CONTAININING FOUR SETS OF BOOKS BY SINGLE ENTRY, AND SIX SETS BY DOUBLE ENTRY. ALSO, 3 Ott If fieam Da HSoS. 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 EDITION, AND OF "AN ELEMENTARY TREATISE ON BOOE-KEEPIRNG FOR COMMION SCHOOLS." PHILADELPHIA: E. C. & J. BIDDLE, No. 6 SOUTH FIFTH STREET. 1854. ENTERED according to act of Congress, in the year 1853, by S. W. CRITTENDEN, in the Clerk's Office of the District Court of the Eastern District of Pennsylvania. STEREOTYPED BY L. JOHN'SON AND CO. PIIILADELPIIlA. Printed by T. K. & I'. G. Collinls. CONTENTS. PAGE PREFACE.................................................................................................... 5, 6 BRIEF PLAN OF THE WORK.................................................................... 7, 8 VOCABULARY OF ABBREVIATIONS, CHARACTERS, AND MERCANTILE TERS................................... 9-12 Singre fn'tf. INTRODUCTION............................................................................................................... 14 SFET I, Business of a Painter and Glazier. Explanatory Remarks............................... 16, 17 Instructions for writing up....................................................... 17, 18 Cash-Book.......................................................................................................... 19 Day-Book......................20, 21 Leger................................................................................................................. 22, 23 Deductions.......................................................................................... 24 Questions for Review............................................................................................. 25, 26 SET II, Business of a Cabinet Jlaker-Partnership. Explanatory Remarks............................................................................ 28 Instructions for writing up..................................................................................... 29 Cash-Book........................................................................................................... 30, 31 Day-Book........................................................................................................... 32-34 Alphabet or Index........................................................................................ 35 Leger................................................................................................ 36-38 Deductions.......................................................................................................... 39 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 Deductions.......................................................................................................... 53 Questions for Review............................................................................................ 54 SET IV, Business of a Blacksmith. Explanatory Remarks........................................................................................... 55 Leger, used as a book of original entry.................................................. 56, 57 loufie Fntifu. INTRODUCTION..................0-62.................................................................... 60 ITALIAN MIETHOD. SET I, Cloths and Cassimeres-Gaining Business. Explanatory Remarks and Instructions for writing up................................................ 63-65 Day-Book............................................................ 66, 67 Journal, with Elucidations..................8, 9................................................. 68 69 Leger.................................................................................. 70-72 Full Explanation of the method of Posting and Closing the Leger, with Trial Balances and Inventory-Book..........3................................................. 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 Day-Book............................................................................................................. 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, Continsuation of Set Il —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 Net 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 Statements showing the result of the Business......................................................... 103, Questions for Review....................................................... 104 SET V, Produce, Grocery and Domestic Shipping Beusiness —Losing Business-three Partners, one furnishing no Capital —Losses shared unequally. Instructions for writing up..................................................................................... 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 FORMl —CASH ENTERED SOLELY IN THE CASH-BOOK, AND TRANSFEXRED iIONTHLY 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-Book...................149-13..................................................................... 149-1 Index and Leger A............................................................................................... 155-160 Index and Leger B................................................................................................ 161-165 Inventory-Book and Trial Balances...................................................................... 166, 167 Auxiliary Books for Set VI. Bank-Book and Check-Book................................................................................ 170, 171 Bill-Book............................................................... 172, 173 Invoice-Book..................................................................................................... 174 Sales-Book......1............175.......................................................... 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....................................................................................................... 186-1.89 Passage-Book.................................................................................... 190, 191 Cash-Book...................92-9................................................................. Journal.................................................................................... 196 Index and Leger.................................................................................................. 197-1-99 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 FORMI, No. 2, for Retail Merchandising Business...................................................... 217-224 PRACTICAL FORM, NO. 3, for Wholesale, Jobbing, Mlanufacturing, Retail, or General Trading Business 225-238 PRACTICAL FORM, No. 4, for Wholesale, Jobbing, Importing, or Manufacturing Business.................. 239-249 PRACTICAL FoRai, No. 5, for Wholesale and Retail, or Extensive Retail Business............................ 250 PRACTICAL FonR, 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........................ 273-277 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 Time Tables................................................................................................................. 287, 288 4 PR EFACE. 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 rlule deduced from the definition of debtor and creditor. 5 PREFACE, 4. Many of the entries are so classified as to bring those of a similar nature or of a directly opposite 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 tho 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 bettedr 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 of business to 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 [ioneys 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 who 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-HIOUSE 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 get 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. favy. Favor. Per. Personal. ABBREVIATIONS. ~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. Am't Amount. Fr. French. Prem. Premium. Ans. Answer. fr. From. Prof. Profit. Apr. April. Fr't Freight. preox. [Proximo.] The next Ass'd or As'd Assorted. Gal. Gallon. month. Aug. August. Guar. Guarantee. Ps. Pieces. Bal. Balance. Phd. Hogshead. Bec'd Received. B.-B. Bill-Book, Bank-Book. /.-B. Invoice-Book. B-B. Rail-road. Bbl. Barrel. i. e. [Id est.] That is. S.-B. Sales-Book. Bills Pay. Bills Payable. Ins. Insurance. Sept. September. Bills Bec. Bills Receivable. Insol. Insolvency. Sh. Share. B'k Bank. inst. [Instant.] The present Ship't Shipment. BI1c. Black. month. St'b't Steamboat. Bo't Bought. Int. Interest. Stor. Storage. Bro't Brought. Ietv't Inventory. STCd's Sundries. Cap. Capital. Jan. January. Super. or S. F. Superfine. C.-B. Cash-Book. Jour. Journal. ult. [Ultimo.] The last Co. Company. J. F. Journal folio. month. C'ol'd Colored. Case. Commission, Commerce. Lab. Labor. viz. [Videlicet.] To wit0'ons't Consignment. lbs. Pounds. namely. Cr. Creditor. Leg. Leger. vs. [Versus.] Against. P-B. Day-Book.L. F. Leger folio. Weigh. Weighing...-B. Day-Book. 0 -Dec. December. Mar. March. PDep. Deposited. I/dse. Merchandise. s. 1'ft Draft. m. or mo. Month. yr. ear. Dis. Discount. CIols. Molasses. CHARACTERS. Do. [Ditto.] The same. Met. Mutal. -oz. ]Dozen. O At. Droz. Debtnor. N. B. [Nota Bene.] Take no- Account. Dray. Drayage. N. umice. Cents. d'ay. Dlayage. No. Number. [Per centum.] By the c' zy.Nov. November. hundred. ea. Each. Oct. October. Number. E. E. Errors excepted. 0. —. Outard-Ivoice-Boo. + Sign of addition. E. & O. E. Errors & omissions ex- -" " subtraction. cepted. p. Page. X " " multiplication. Emb'dl Embroidered. Pay't Payment. d. " " civision. Eng. English. P.-C.-B. Petty-Cash-Book. = " " equality. Eat. Entry. P'ch'e Purchases. " [Ditto.] The same. Ex. Example. P'd Paid. 11 One & one-quarter. Exch. Exchange. P'lc'g's Packages. 12 One & one-half. EPxp'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 drawoee lends his name for the use of the drawer. Account-Current, an exhibit in detail of a running account between two or more parties. Accoiunt-Sales, an exhibit of the sales of goods disposed of on commission, with the charges incurred thereon. Ad 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. AnnuLity, 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. Assiglnnsent, conditional transfer of property to another. The property so transferred. Assignsor, one who makes an assignment. Attaclhment, a claim on property legally executed. AAnne, 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 ELxchange, 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. Boand, 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 Boand, a mortgage or lien upon a vessel. Brace, a measure of - of a yard. Broker, a money or stock trader. Factor; agent. B~rokerage, a percentage for the purchase and sale of money and stocks. Caplital, stock in trade. Cargo, the lading or freight of a vessel. Catty, a Chinese weight of 1~ lbs. avoirdupois. Carrgying 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. Cownpoiund, to settle with a creditor by agreement, and discharge a debt by paying a part of its amount. Compronlise, an adjustment of differences by mutual concessions. Consignee, one to whom goods or wares are consigned. Consignsment, goods sent to an agent to be sold for the consignor. Consigznor, 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. CIustomn-hozuse, 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 thr ee; but it varies very much in other commercial stattes, 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. Demurrage, 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. Deviation, 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..iiscoun:, a,ny deduction from the stipulated price of goods, or from a sum due or to be due at a future time.,Dividend, gains on stock, shares in trade, etc. Dock, a place to build, repair, or lodge vessels. )iraft, an order from one person on another for the payment of money; a bill of exchange. Drcawer, the one who draws a bill or draft on another. The maker of a note. Dratee, the person on whom a bill is drawn. 10 VOCABULARY. Drawbackc, amount paid back. Any loss of advantage, or deduction from profit. Duplicate, a copy. Dutty, a government tax on exported or imported goods. Effects, money, property on hand, and debts due. Ell Flemish (E. Fl.), a measure of i yd. Enbargo, a restraint on ships by Government; or prohibition of sailing either out of port, or into port, or both. Ensporiu.m, 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 Guarainty, 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. iHonor, as applied to drafts, means to accept and pay when due. bypothecate, 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/. Iventory 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 ewait 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 GCredit, 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 lclarque, a written commission or authority given by government to private vessels, to make reprisals on th, 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. Mc4~anifest, an exhibit of a vessel's cargo. Mart, a place of public sale and traffic. Mlaturity, the time when a bill falls due. MIaximum, the highest price of an article. MJerchandise, the usual articles of trade. letre, a measure of 1TZ yds. JIinimsne, the lowest price of an article. MiTnt, a place where money is coined. fifortgage, 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 sweight, the weight of a commodity after deducting utre, and all other allowances. Non claim, a failure to claim within the time limited by law. Omission of claim. 11 VOCABULARY. Notary, or Notary Plublic, 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..Sote, a written obligation to pay money. A memorandum. Obligations, 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-Partnershiop. Payee, the person to whom money is to be paid. Per annuim, by the year. Picul, a Chinese weight of 1331 lbs. avoirdupois. Policy, or Policy of Insurance, the writing, or instrument, 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. Posoer of Attorney, authority given to a person to act for another. Priice CLrrent, 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. Priamage, 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 forena, according to form. Thus a pro fornza 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. Pronissory 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 Rebatezent, abatement of price; deduction for prompt payment. Receipt, a writing acknowledging the receipt of money or goods. Remnittance, 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-woorthy, 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.'ignatue, 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. Tranlsfer, 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. Utnderwriters, 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. WThafage, money paid for the use of a wharf. Wreckers, persons employed in saving property from shipwreck. BY 13 INTRODUCTION TO SINGLE ENTRY BOOK-KEEPING. BOOIK-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. THE DAY-BooIK. —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 ( 71, 421," or "Samuel Henry Cr. By Cash on %c $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. TIIE 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. 115, 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," (des.cribing 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 daily, 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. IErasures 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 but 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 for 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 Tevmpleton, 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 %," 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, Morm" & 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 II 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. 1 Cash. Dr. Cr. 1852. Sept. 1 Am't of Cash on hand at commencing business 500 00 Paid for Paints, Oils, Glass, Brushes, &c., pr. Adam'sBill 105 32 " 2'" " 2 Books Gold Leaf 75 cc c" "' Making Step Ladders 5 00 c"; cc" " " Muslin 37 3 Rec'd of S. Lambert for Glazing 27 Lights 10 by 12 ~ 25. 6 75 " 4 Paid Geo. L. Searles on % of Wages pr. D.-B. 3 00 "cc c " Wm. Boyd, Jr., 3 days' Work @ $1.50 4.50 "cc " " Hiram Smith 2 " " ~.75 1 50 *Balance in Bank, $345.00, in Safe, $41.31 8 86 3 1 506 75 506 75 Sept. 6 Balance Cash on hand 386 31 " " Rec'd of John Payson for painting Sign as pr. agreement 30 00 cc 7 " " Bailey T. Stokes iri full of % 6 75 cc 8 Paid Jonathan Long & Co. on % 25 00 c13.1 it cc 4c 94 491I io.10 00 " George L. Searles on %7 of Wages pr. D.-B. 9100 cc "cc " Hiram L. Smith 52 days' Work @ 75 9 413 " "it Balance in Bank, $864.98, in Safe, $10.00 41 374 423 061 423;06 Sept. 13 Balance Cash on hand 3741931 i" 17 Rec'd for 37 lbs. Blue Paint @ 25 d 9j25 c 18 Paid George L. Searles in full pr. D.-B. 1 750 Rec'd for 2 Lights 10 by 20 Stained Glass @ $4.50 9 00| c, " sPaid Hiram Smith 6 days' Work @ $1.00 00 " " Balance in Bank, $374.43, in Safe, $5.25 87 37968 393 18 393418 Sept. 20 Balance Cash on hand 37968 Rec'd of Timothy Stone for 120 lbs. White Paint @ 11 f 13 20,, " Paid for Repairs of Shop 2 12 c i " making Transparency Frame 4 38 24 Rec'd of J. F. Goodwin, for Stained Glass, as pr. agreement 25 00 " 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 Ic " Hiram Smith 5 " @ $1.00 5 00,, " " "Peter Lundy 42 @$.75 3 38 "cs "e ) cBalance in Bank, $541.75, in Safe, $54.00 59 6 7 5 627 88 627 88 Sept. 27 Balance Cash on hand 59575 =,," " Paid Peter Lee, Carpenter, for Sundry Jobs, as pr. Bill 22 5) cc 28 -" for 10 galls. Linseed Oil @ $1.622 16 25 " 29 Rec'd for Tin Sign 10 00 "c Paid for Tin and Japanning 425 " 30 " Hiram Smith 6 days' Work: $1.00 6 00,," "': Rent of Shop one month 16 67 ",," Balance in Bank, $6521.43, in Safe, $18.65 540 08 1852. 6057560 75 Oct. 1 Balance from Sept. 80th /52 540 08 19 *taW*cs denote red ifk 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 j 1.50 " 18 lbs. White" @ 12 2 f 2.25 4 25 4th: 1 Camden & Amboy Rail-Road Co. Dr. To Lettering Sign 60 feet, @ 20' 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 (G $1.50 6 00 Dr. 1 To Cash on e 3 00 6th 1 Camden & Amboy Rail-Road Co. Dr. To Lettering Sign 15 feet, @ 20 y 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 % 6T5S 8th 2 Jonathan Long & Co. Cr. By Paints, Oils &c., as pr. Bill 52 64 Dr. 2 To Cash in Part 25 00 2 Wm. 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 postmarks. 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 Te 10.00' Glazing 10 Lights 10 by 18 @ 25 2.50 12 50 1 George L. Searles Cr. By 5- days' Labor @ $1.50 825 Dr. 1 To Cash on %e 9 00 13th 2 Philadelphia Exchange Dr. To Glazing 4 Lights 10 by 16 @ 25' 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. 15 14 2 Jonathan Long & Co. Dr. To my Order, their favor, on Camden & Amboy R.-R. Co. 15 14 18th 1 George L. Searles Cr. By 38 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 i Dr. To Glazing New Sash at Manufactory, as pr. Agreement, to wit, 56 Lights 11 by 15 @ 9I' 5.04 139 " 10 by 12 7 9.73 1920" 8 by 10 ~ 3/ 57.60 "20 " Old Glazing 11 by 17 ~ 35F 7.00 "Painting 110 Window Frames @ 459 49.50 Reception Room 5.25 134 12 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 30 00 21 LEGER, SET I. Dr. Bailey T. Stokes. Cr. ~.v. -.. Datescription. Folio. Amount. Date. Description. -B. Dae. Description. Amount Folio. Folio. 1852. 1852. - Sept.' I To Sundries 1 675 Sept. 7 By Cash 1 6 76 1852. _ __ _ Sept.t 25 To Glazing, &c. 2 134 12 Dr. Mayland, Morris - Co. Cr. 1852. Sept. 2 To bronzing candelabra 1 2 00 Dr. Thomas Templeton. Cr. 1852. 1852. Sept.| 3 To Sundries 1 4 25 Sept. 27 By Sundries 2 21 00 i 9 " Glazing 2 37 30 Bal.to New% 1 6 38 2100 21 0( 1852. Oct. 1 By Bal.fr. Old 1638 Dr. Camden 4 dmboy Rail Road Co. Cr. 1852. I 1852. Sept. 4 To Sundries 1 16 50 Sept. 15 By Order on them 2 15|14 " 6 " " 1J 725 o0, BBal. to New % 861 2375 23 -75 1852. - - - Oct. 1 To Bal. fr. Old % 1 8 61 Dr. George L. Searles. Cr. e852. 4:.1852.. " 6 0 5ept- 4 To Cash 1 300 Sept. 4 By Labor 1 600 " 11 " " 2 900 " 11 " C 2 825 " 18 E ", 2,50 18 d " 2 25 1950 1950 22 LEGER, SET I. 2 Dr. Henry Talbot. Cr. D.-B. Decipin.-B. Date. | Description. Folio.. Description. Folio. 1852. Sept. 6 By Making Sign 1 3 00 Dr. Jonathan Long 4 Co. Cr. 1852. 1852. Sept. 8 To'Cash 1 25100 Sept. 8 By Paints, Oils &c. 1 52[64 11 "L Sundries 2 12 50' 15 " My Order 2 15 14 5264 5264 Dr. - Win. G. Bradbury. Cr. 1852. Sept. 8 ByBill of Glass &c. 1 140 00 Dr. Philadelphia Exchange. Cr. 1852. Sept. 13 To Sundries 2 16 00 Dr. Sargeant 8f Willis. Cr. 1852. I 1852. Sept. 22 ToStain'dGlass&c. 2 40 00 Sept. 30 ByB al. to ew % 7 0 00 " 30 " Painting Office 2 30 00 7000 70oo10 1852. - - 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 140 00 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 Net 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-Book? 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? HIow 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 "AinAm'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 books? 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 (continued). Mention the accounts on your Leger which have balances you owe. What is the gross 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 upon 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 by 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. GCash. 1862. Nov. 1 To B. L. Archer, invested by him 50 00 " C. T. Marion, " " " 648 08 " 3 (" James Margrave, on 6000 758 08 Nov. 8 To Balance on hand from 6th inst. 674 98 ~ 1 Bureau, Mahogany Veteered 22 00 " 9 " Bills Receivable, B. Pinkley's Note, Archer's favor 125 00 " 11 " James Mortley, Arm Chair for Office 500 = 826 98 Nov. 15 T.o Balance on hand from 13th inst. 648 60 " " 1 Pint of Varnish // 50 17 " Staining Cupboard 75; 1 " 1 Reclining Chair for Invalids 25 00 19 " 2 Ottomans / 7 00 " 20 " 1 French Bedstead, Birds'-Eye Maple. 4 50 686 35 Nov. 22 To Balance on hand from 20th inst. 59823 " " " Steamboat Ohio Belle, part Bill of date 150 00 748 23 Nov. 29 To Balance on hand from 27th inst. 474 83 -csc " 2 Mahogany Rocking Chairs, Plush covered, ( $12.50 25 00 c 2 Birds'-Eye Maple French Bedsteads, ( 4.50 9 00 "- " I" 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, " " " Chairs 1 62 602 08 1862. - Dec. 1 To Balance from Nov. 30th/52 471 98 30 CASH-BOOK, SET II. Cash. Cr. 1852. Nov. 2 By Richard Baker, Bill of Lumber 75 60 4 6 6" Wages paid hands, pr. Time-Book 7 50 ", "6 Balance in Bank, $650, in Safe, $24.98 67 4 9 758 08 Nov. 8 By S. Brinkley, Carpenter, Repairs of Shop 51 50 c" "" Jonas Smith, Painting Shop 22 00 " "]" John Johnson & Son, in full of % 67 00 ] "Glazing 1 Light of Glass 38,, 13 " Wages paid hands, pr. Time-Book 37 50 "[ " ". Balance in Bank, $620, in Safe, $28.60 648 60 826 98 ITov. 16 By John Johnson & Son, part Bill of Paints, &c. 50 00 I 20 Wages paid hands, pr. Time-Book 38 12.I l " Balance in Bank, $525.60, in Safe, $72.783 9 8 2 3 68 635 Nov. 22 By Bills Payable, Archer's Note, P. Wall's favor - 200.00; Less Discount from date, to Jan. 6th /53 1.50 198 50 cc 23 /' B. L. Archer, on 10 00 " 24 ]" Bill of Varnish 13 50 "! "e Gas Bill 1425 " Drayage of Furniture 50 "27 " Wages paid hands, as pr. Time-Book 36 65 Balance in Bank, $470, in Safe, 4.83 47 4 8 3 748 23 Nov. 2q By Bill of Veneering 25 60 l Charles T. Marion, on 2500 Repairs of Lock 25,,30d " Rent of Shop, one month 4000 "' "Wages paid hands, as pr. Time-Book 39 25.",I," Balance in Bank, $460.50, in Safe, $11.48 471 98;~~~c~~~ " ~~~602 08 31 DAY-BOOK, SET II. Pittsburg, November 1st, 1852. 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 7 55.75 " " of Peyton Gardner's 37.40 " Materials & Unfinished Work, as pr. Inventory 356.50 " Stock of Furniture, " " " 210.43 Tools " " " 151.20 1,211 28 Dr. 1 To Sundry Notes he owes, pr. B.-B. 421.00 " Bal. due John Johnson & Son, on e 67.00 ~" " " Peters, Fithian & Co. " " 75.20 563 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 1 John Johnson & Son Cr. By Bal. of B. L. Archer's %e 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. 11 / By Cash on 4t 60 00 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 " I " Low-Post Bedstead 2.75 48 25 32 DAY-BOOK, SET 11. 2 Pittsburg, November 5th, 1852. L.F. 2 Jeremiah McCabe, pr. wife, Dr. To 1 Doz. Windsor Chairs 12.00 " a @ " ($15.00 7.50 "~ (" " " " 10.00 5.00 1 Spring-Seat Black Walnut Sofa 21.00 45 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 11th 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, @ $11.00 833.00 "1 Rocking Chair, Second-Hand 9.00 42 00 15th 1 James Margrave Dr. To 7% of J. McCabe, assumed by him 45 50 2 Jeremiah McCabe Cr. By transfer of % to J. Margrave 45150 16th John Johnson & Son Cr. By Bill of Paints, Varnish, Brushes, &c. 175 26 Dr. 1 i To Cash in part 50 00 18th 2 Philip Mendenhall Dr. To 1 Black Walnut Book-Case 15 00 E 33 3; DDAY-BOOK, SET II. Pittsburg,November 19th, 1852... 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 3 Steamboat Ohio Belle Dr. To 3 Mahogany Sofas, @ $15.00 45.00 " 2 " Tete-a-Tetes, 16.00 32.00'L 1 "4 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 150100 23d 1 B. L. Archer Dr. To Cash on 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 19 00 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. % 62.75 137 75 34 ALPHABET OR INDEX, LEGER, SET IL. A. N. Archer, Barney L. - 1O. B. C. P. Crim, Miss Betsy - 3 Peters, Fithian & Co. 2 D. ~~~E.~Q. R. F., G. S. Gardner, Peyton - - Steamboat Ohio Belie - T. 1, J. Johnson, John, &Son - 1 U. K. V. L. Laflin, Lewis, Jr, - - - W. Lewis, Oscar P., & Co. - 3 Waterby, Mrs. Matilda - 2 M. X. Marion, Charles T. 1 X. Margrave, James - 8-1 McCabe, Jeremiah - - 2 Mendenhall, Philip - - 3-2 Y, Z. 35 LEGER, SET II. Dr. Barney L. Archer. Cr. Nov. 1 To Sundries 1 563 20 Nov. 1 By Sundries 1 1,211 28,,... s "Tet. Cap. at starting 6 4 80 8 1,21128 2 1,211128 1852. - 1852 Nov. 23 To Cash on 3 10 00 Nov. I By Net Capital " 3 0 "Net Cap. to New % 77 8 3 8 brought down 648108 30 "~ Net Gains* 140130 788 38 788 38' -'1852. Dec. 1 ByNet Cap.fr.old% 77838 Dr. Charles T. Marion. Cr. 1852. 1852. Nov. 29 To Cash on c 3 25 00 Nov. 1 By Cash invested 1 648 08 3 0 "Net Cap. to New % 7 6 3 3 8; 30 2" Net Gains* i 140 30 78838 788 38 1852. - __ 8__8 Dec. 1 By Net Cap.fr.oldc 763 38 Dr. James Margrave. Cr. 1852. 1852. Nov. 1 To B. L. Archer 1 55 75 Nov. 3 By Cash 1 600 G " 3 " Sofa 1 20100 " 9 " Footstool 2 1 50 11 " Dining Table 2 40100 " 15'" J. McCabe 2 1 4550 __ Am't to folio 8 16275 Ain't tofolio 3 6000 Dr. Peyton Gardner. Cr. 1852. Nov. 1 To B. L. Archer 1 37140 Dr. John Johnson & Son. Cr. 1852. 1852. Nov. 8 To Cash 2 67 00 Nov. 1 By B. L. Archer 1 67 0 Nov. 16 To Cash 2 || 50 00 Nov.,, 30 " Bal. to New % |-1 2 512 6 1852. Dec. 1 By Bal. fr. Old % 1 125 26 * See Statements, page 39. 36 LEGEiR, SET II. 2 Dr. Peters, Fithian S Co. Cr. 1852. IfI1852. Nov.; 9 To Bills Payable |2 |210 20 Nov. 1 By B. L. Archer 1 7520 9 9 " Bill of date 2 135100 2101201 = 1 0220 rDr. Jeremiah McCclabe. Cr. 1852. i852.-.1 __ Nov. 5 To Sundries 2 4550 Nov. 15 By J. Margrave 2 45 50 Dr. Lewis LafJin, Jr. Cr. Nov. 9 To Pivot Chairs 2 16500 Dr. Philip Mendenhall. Cr. 1852. 1852. Nov. 113 ToChildren'schairs 2 4 00 Nov. 20 By Bal to folio 83 19150 18 " e Book Case 2 15 00 20 " Varnishing 3 2 50 - 191501L 1950 ~i-~~ __ 3 LEGER, SET II. Dr. Miss Betsy Crim. Cr. 1852. 1852. Nov. 13 To Sundries 2 4200i Nov.2 30 By Bureau 19 00 29 " Bureau 3 1900 " " Bal. to New 42 00 61o00l 61 00 Dec. I To Bal. fr. Old % 42 00 Dr. James Margrave. Cr. 1852. 1852. Nov. 15 To Ain't fr. folio 1 162 75! Nov. 15 By Am't fr. folio 1 60 00 cs 19 " Hat Stand 3 10 0' " 30 " Sundries 3 137 75 " |26 Bureau 3 25100 197 751 197175.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 % 8 7 0 0 237 00 237 00 1852. Dec. 1 To Bal. fr. Old % 87 00 Dr. Oscar P. Lewis 4 Co. Cr. 1852. Nov. 23 By Bill of date 3 9640 Dr. Philip Mendenhall. Cr. 1852.1 1852. Nov. 20 To Bal. from folio 2 19 50 Aov. o By Bal to New % 84 50 " 30 " Centre Table 3 15 00 84 50 3 450 1852. Dec. 1 To Bal. fr Old 34 50 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 125126 Mrs. Matilda Waterby 48 25 Oscar P. Lewis & Co. 96 40 Lewis Laflin, Jr. 15 00 $221 66 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 c" "' "( 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, s" " "cc 431.20 You have now the materials for the following statements. Assets. iab ilities. 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 65286 L" "L C. T. Marion 25 00 B. L. Archer's investment 648i08 $2,229 62 C. T. Marion's " 648[08 Deduct' 1,949 02 $1,949 02 Firm's net gains $280 60 Each partner's 1 $140.30 Again, Therefore, Net gains of B. L. Archer $140.30 The difference between the total assets and total Add credit Bal. 1of his vency *f th ~irlAdtliabilities of a firm shows the net capital or net insolAdd credit 6al. of his vency of the firm. pr. Leger 638.08 The difference between the assets, including partners' 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 Ecach 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. U. T. ]Marion's net capital 763.38 * In a losing business, the losses of each paftrer, deducted front the credit balance of his account, shows his net capital; or if the Firm's net capitals as above $1,541.76 net losses are greater than the credit balance of his account, the difference 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 I 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? WhVen 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? Mention 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. EXPLANATORY IREMARKS, 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 all 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 draw off statements as before directed. The statements and deductions on page 53 w'll 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 Chieck-Book and other auxiliaries needed in actual business are exhibited, refer to the Table of Contents, pages 3 and 4. 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 these 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 your 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 for F'arm," giving the date and amount. 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 ia 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 @ 122f; 10 Bush. Ruta Bagas @ 25 /; 20 Bush. Carrots, ( 35 /. $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 @a $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, G 35', and 1 Bbl. Sweet Potatoes, ( $2.25. Enter the above upon the credit side of your Cash-Book. 3d 7Bo't for Cash, 10 lbs. Beef, ~ 10 /, and 5 lbs. Nails, ( 5 Y. Enter this precisely similar to the last. In the next transaction of the same kind, I shall give you no suggestions 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 Win. 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 fur. nished. 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 Y; 200 lbs. Sugar, ( 7 /; 20 lbs. Loaf Sugar, @ 11?; 5 Gals. Molasses, ~ 30 Y; 1 Gal. Sugar-house Syrup, 50 Y; 10 lbs. Tea, @ 50 j; 2 Sacks, 320 lbs. Coffee, @ 10 Y; 2 lbs. Saleratus, ( 122 jY; 4 lbs. Raisins, ( 122 f. 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 f. 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 Y; and 4 lbs. Beef Steak, ~ 10?. 17th Exchanged my horse Bill (8 years old) for a better match to myvother 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 EISTORY 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 50o/. 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/y; 1 Hind-quarter, 95 lbs., @ 8f; 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. Mlay 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 ~. Debit Mr. Failing in the proper book. 31st Paid Hands in ful, $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 Winm. 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. 4th 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 MIar. 1st will apply to this entry. 47 5 HISTORY AND ELUCIDATIONS, SET IlI. 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, Ain'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 @ 75J 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, @ 16/; and 225 lbs. Cheese, @ 8 /l. Sales on account to be debited the person to whom you sell. 12th Sold Mrs. Sarah C. Dermott 50 Bush. Potatoes, ~ 35 /. (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 Y 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 Htands in full, $35. The 31st is Sabbath. November 3d Sold Orrin Woolworth, on %S, 50 Bush. Potatoes, @ 357; 50 Bush. Wheat @ $1; and 50 Bush. Oats @ 35?. 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 j 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 Hands their Wages in full, $35. 48 HISTORY AND ELUCIDATIONS, SET III. 6 Lancaster, Pe-nn'a, December 3d, 1852. Sold E. B. Holden & Co. on %, 20 Cords Wood, delivered at their Store, ~ $3. 7th PRec'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 fo)r note and interest. As no account was opened with Mr. Rodgers on the 13th April, (which see,) he is not to receive any credit here. Paid Geo. T. Lipman Bal. of his 7%, in full, due Sept. 1st, $150; and Int. on same fiom 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. Simpkins on 7S, 5 Bush. Wheat @ $1. 2 th Sold Caleb Cope 2 Alderney Calves @ $15; 1 Alderney Cow ~G $60; 1 Yoke Oxen G $75. See Aug. 25th. -28th Sold for Cash to Wim. Jacobs, 750 Bush. Oats ( 35 d; 800 Bush. Corn @, 55 /; 50 Bush. Buckwheat @ 60'. Paid the following contributions to charitable objects: Bible Society, $20; Tract Society, $20; Foreign Missions, $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, G 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 HIorses, and other Blacksmithing to date, $53.75. Paid Anson Holcomnb, 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 fircm the Farm each morning, @. 3 Y pr. 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.- - ( 35? 26 25 " 1 Bbl. Sweet Potatoes - - - 225 " 3 " Beef & Nails. -.1 125 10 "1 Rockaway Wagon - - - 150 00 Mackerel, Pork & Groceries - - 107 95 " 24 " 20 Bush. Wheat - - - - - - 55 11 00 " 31 " Wages of Hands - - - - 47 00 Feb. 4 " Veal & Beef - 1 45 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 cc 31 " Wages of Hands - - - - - - - - 47 00 April 30 " " " " - - 39 00 May 1 " Blacksmithing - - - - 1 75 " 19 2" "250 " 31 " Wages of Hands - - - - - - - - 43 50 June 1 " 6 Alderney Cows with Calves - $- ~ 50 300 00 30 " Wages of Hands - - - v 67 00 "; " Int. on Bonds to Leech - - - - - - 300 00 July 10 " Market Wagon &'Horse - - - - - - - 175 00 " 15 " Wages of Hands 5 00 " 31 " " " " 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 6Y 36 00 23 " Wages of Hands - 6 00 " 30 " " " " - - - - 3500 " 30 <';......35 00 Nov. 3 " Clothing, Crockery & Groceries - 108-80 27 " Chopping 50 Cords Wood - @ 50I 25 00 " 30 " Wages of Hands - - - - 35100 Dec. 7 " Int. paid Geo. T. Lipman - - - - 240 " 28 " Contributions $250.00, Schooling $150 - 400 00 30 " Freight & Expenses to Market - 11 55 " 31 " Blacksmithing $53.75, Coopering $26.25 - - - - 80 00 "Wages of Hands - - - - - - - - 35 00 " Int. on Bonds to Leech - 300 00 20,436 65 Net Gains, as shown on page 53 - - - - 3 156 7 $20,752 32 50 FARM ACCOUNT. Farm. Cr. 1852. Jan. 10 By 20 Bush. Wheat $1.05 21 00 " 24 " 5 Tons Hay - - -$15. 75 00 April 13 " Durham Bull - - - 125 00 "c " "c 2 Fore-quarters, 200 lbs. tBeef- - 7f 14 00 1I Hind-quarter, 95 lbs. Beef - - - - @ 8 7 60 c" " " 10 lbs. Tallow - - - - - - 8 80 May 25 " 8 Bush. Seed Potatoes - - - - - 50 400 Aug. 25 " 2 Steers - $25. 50 00 " 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 " 26 " 375 " Wheat - - - - - - $1. 375 00 Nov. 3 " 50 " Potatoes - - - - - - 35/ 17 50 "" "" 50 " Wheat - - - - - - $1. 5000 " " " 50 " Oats - - - - 35 1750 Dec. 3 " 20 Cords Wood - - - - 6000 7 " Interest on C. L. Rodgers' Note - - - - - 1 39 " 14 " 100 Bush. Corn - - - - - - 50 50 00 " 20 " 5 " Wheat - - - - - - $1. 500 " 25 " 2 Alderney Calves - @ $15. 30 00 c " 1 " Cw - - - - - - 60 00 " L c" "1 Yoke Oxen - - - - - 75 00 " 28 " 750 Bush. Oats -....- - 35 262 50 "c " 800 " Corn -@ 55/ 440 00 b" " "50 " Buckwheat - - - - - 60 30 00 " 30 " 1725 lbs. Cheese - 9/ 155 25 " 900 " Butter - -@ - 18 162 00 831 "9,500 qts. Milk -. ~ 3 285 00 2,609 28 Value of Farm, Stock,., r. Inventory 18,143 04 $120,2 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 t 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, " 50~P 125.00 150 " Oats, " 35/ 52.50 40 " Buckwheat, " 55/ 22.00 115 " Potatoes, " 35/ 40.25 48 Tons Hay, " $10. 480.00 3 Stacks Straw, " $9. 27.00 Quantity of Corn Fodder 42.00 210 lbs. Butter, @ 18/ 37.80 154 " Cheese, " 9~ 13.86 1,125 Bush. Turnips, "1227 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 $18,43 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 6500 E. B. Holden & Co. 91 00 Mrs. S. C. Dermott 17 50 Stedman & Williston 14100 $.297'50 Capital at Starting, Cash on hand, pr. Cash-Book, at starting 6,275.00 Notes held against others, " " c 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 front 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 let 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 the value to be affixed to your property? WVhat is exhibited on the debit side of the Farm account? WAThat 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? WThat 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 L]eger 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. Loeqhlead. Dr. Cr. 1852. Dec. 3 To Re-setting 4 Tires to Wagon 3 00,' Mending King Bolt 25 " " " 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 o " Bal. to New %f 4 1 3.- -8738 873 1853. _ Jan. 1 To Bal. from Old | 4 13 Herman Logan. Dr. Cr. 1852. Dec. 4- By 4 days' Work ( $1. 4 00 11 " 52' " i;1. 550 "c "s To Cash on 6 00 I 18 By 43 days' Work $. 75 25 " 5 " " " $1 50-0 31 " 31 " " $1. 3125," ", To Cash in full 16 50 22 50 22 50 Orlando Chase. Dr. Cr. 1852. Ja'. " gs 2" 2 lRaisins @ 122/ 25 16 To 5 " Wrought Nails for Doors ( 25/ 1 25 21 " Iron B3ar for Store Windows 88 24 By 20 lbs. Brown Sugar @ 72 / 150 " "10 l " Coffee "99 90 4 4' I Gal. Molasses 40 " 31 "14 Yds. Merrimac Prints @ 1229 1 75 "s v " 302 "' Lowell Sheeting " 10g 305 s" "' " Bal. to New % 765 5 L 978 978 1853. - _ 1= Jan. 1 By Bal. from Old 7 65 lI/s. Jfary Penninyton. Dr. Cr. Dec. 28 To Ironing Sleigh, as agreed 1 00| 56 LEGER, SET IV. 2 TIendall A. Lyons. Dr. Cr. 1852. Dec. 6 To 4 New Linch-Pins 38 7 " 1 Pr. Iron Hinges for Barn 75 1cc s " " " " " 62 9 " Ironing Cart, as pr. agreement 150 c " "Mending Plough 1 25 " 17 " Repairs to Carriage 313 " By 10 Bush. Wheat @ $1. 1000 c 20 "4 " Corn "50' 2 00 22 " 20 lbs. Cheese' 7/, 1 40 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 "c 28' 4 New Teeth in Harrow 75 29 " Irons on Whipple-trees 1 00 " " By Cash on e 20 00 " 15 Bush. Potatoes G 35 -525 " 3 4" Oats " 40 1 20 " 30 To Log Chain 250 "1 Small Bolt 16 "Mending Iron Kettle 44 cRepairing Sleigh, as agreed 4 25 "' " By Cash on 5 00 31 To Putting Bands on Beetle 50 5 "3 Strong Latches to Barn Doors 1 13 " "cc " 1 Bolt for Pump 19 M"'ending Shovel 31 ~' " ^" "Manure Forks 62 " Staple & Ring for Hitching-Post 38 " Repairing Wheel-Barrow 94 " j By Bal. to New %r Ice 1 23 1 57 16 57 16 1853. = _ Jan. 1 To Bal. from Old % 1231 Wilson P. Jones, Jr. Dr. Cr. 1852. -.._ Dec. 1 To Shoeing Horses, 4 New Shoes @ 311g 1.25 4 Shoes, reset, " 122,'.50 1 75 c 10 " Repairing Wagon 2 25 " 15 By Cash in full 400 400 4 00 H 57 BY 59 INTRODUCTION TO DOUBLE ENTRY BOOK-KEEPING. BOOK-KEEPING by D)ouble 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 HIanseatic 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. One debit may be balanced by several credits, or one credit by several debits, if the gross amounts in each case are equal. 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 practical forms 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 WHAT 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 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 Jfirm value. NoTE.-The above Rule will not apply for determining the opening Journal entry of individual or stock books, since the Rule is only 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 the 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. 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 pwe. 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 1 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 an1 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 prefix or 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 mnore r adily to comprehend them in future entries; and when he has any difficulty in determining what should be called Bills Pay. or Billsl'ec., 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 yeneral 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. gqIW 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 columns 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. For form, see page 35. I 65 1 DAY-BOOK, SET I. Pilatdcilephicct,, Januartay 1st, 1852. / Inventory of my effects on commencing business 400 Yds. Blk. Eng. Cloths @ 83. 1,200.00 460 " Ass'd" Do. @ 82.50 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 V Sold, for Cash, to Isaac Bates 100 Yds. Ass'd Eng. Cloths ~ $3. 300.00 160 " Blk. " Cassimeres @ $2. 320.00 620 00 3 d 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 c 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 @ 84. 1,400.00 195 " " " Cassimeres @ $2. 390.00 200 " " Eng. Do. $1. 200.00 1,990 00 8th V/ Bought of Elihu Barnes on C, @ 90 days, 238 Yds. Ass'd Fr. Cassimeres @ $1.25 -2s7 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 /Sold to Thomas Carpenter & Co. 195 Yds. Blk. Fr. Cassimeres ~ 82.25 438 75 Received Cash in part payment 300.00 The remainder sold on 7 138.75 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 Pkitladclelpia,, January 19th, 1852. Ain't Bro't forward 12,069 15 Sold to Martin Pemberton, on %, 125 Yds. Blue Eng. Cloths ~ $4. 500 00 20th Vt 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, Aim't 350.00 The Balance sold on % 340.00 22d V 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 ~V 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 V Received Cash of Philip Somers on C.56 25 26th V 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 7 148.00 27th / Appropriated Cash for Personal Expenses 60 00 29th V 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. @ $1.16 226.20 1,709 95 Received in payment, Cash 569.98 Their Note @ 60 days 569.98 Balance on c% ~ 30 days 569.99 1,709.95 31st V Paid Ezra Peterson Cash in full of his 320 00 V Paid Cash for Rent of Store one month 75.00 " Clerk hire " " 75.00 " Gas Bill " " 5.00 155 00 18,228 35 67 JOURNAL, SET I. Philadelphia, January Ist, 1852. Dr. Cr. L. F. *1 Sundries Dr. To Stock 5,815 00 1 Merchandise 3,815 00 1 Cash 2,00000 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) Or. Under the heading "Sundries," the several items which make up the sundries are always enumerated:-in tbis 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. 2d Cash Dr., To Merchandise 620 00 620 00 1 t The Cash which you get in this trade has cost you Mdse. to the value of 8620, and is considered as owing you for its cost. The Mdse.-which you have sold has been the means of your receiving 8620 in Cash, and you are considered indebted to it for the value produced; therefore, Cash is Dr. because it has cost value.-Aldse. is Or. because it has produzced value. U Be careful to notice the foarz of each entry, and the manner of extendcling 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 samle kissd of property do not constitute sundries in the Journal, but the term Suzndries is the captibn when there are several Leger titles. 3d Bills Receivable Dr. To Merchandise 220 40 220140 1 By this transaction a 2sote is received for MIdse., instead of Cash, as in the l preceding entry. Bills Rec. Costs-j- value, and is Dr.-A-dse. 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 scot, therefore, been given for Cash or Bills Ree., or any other species of property, and no jnloperty account is Dr.-iBut value has gone from your possession in MAdse. to the amount of 1S656.25, 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. 2fdse. has produced value in his indebtedness, and is Or. 1 4l Merchandise Dr. To Caslh 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 Mdse. costs value in your Note:-Bills Pay. produces value by paying for the Mdse. ~~~~1 e ~8th MIerchandise Dr. To Elihu Barnes 297 50 297 50 2 Mdse. 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 25000 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. hidse. has produced value in the Cash and Note, and is Cr. 12th 1 Sundries Dr. To Merchandise' 438'7l 1 Cash 300 00 2 Thomas Carpenter & Co. l 198, 5 Cash and T. Carpenter & Co. have each caused you to part with MIdse., and I have thus been a cost to you. Mdse. has produced you value in Cash and the indebtedness of Carpenter & Co. 12,01'9J15 12,a 019 15 * Omit the Leger folio until you post. -[ Whenever, as in this case, I am speaking of the Leger account of " Bills Rec." or "BIills Pay.," I use the singular verb, because the noun is really singular, although the word "'Bills," of itself, is plural. 68 JOURNAL, SET I. Philadelphia, January 131h, 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 1 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 350100 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 350100 2 " Elihu Barnes 250 00 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 320i00 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 00 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. 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; 1 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. 3~ - -31st 3Ezra Peterson Dr. To Cash 320 00 320 00 1 Peterson costs you $320 in Cash.-Cash produces value by paying the debt. Store Expenses Dr. To Cash 155 00 155 1 Store Expenses cost value in Cash. _ _ f 18,228135 18,228135 69 I LEGER, SET I. Dr. Stock. Cr. Date. Balancing Entry. J. F. Amount. Date. Balancing Entry. J. F. Amount. 1852. 1852 Jacn. 3 1 fTo BJacl. (Net Cap.) 3 6,7 5 2 10 Jan. 1 By Sundries 1 5,815 00 " 31 " Profit & Loss 3 937 10 6,752 10 6,752 10 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 " B3ills Rec. 1 220 40 " 6 4" Bills Pay. 1 1,990 00 " 5'" P. Somers 1 656 25 " 8 " E. Barrne 1 297 50 "4 9 " Sundries 1 1,250 00 " 22 " Sundries 2 600 00 "4 12 " " 1 438 75 " 23 "4 "r 2 720 00'" 19 "' M. Pemberton 2 500 00 8,13.75 " 20 "' Sundries 2 690 00 31 Prof.&Loss (gain) 3 1,2 0 2 10 ~ 26 " 4 2 748 00 " 129 4 4 2 1,70995 6,833.35 3cc 1,, Bal. (Inv't.) 3 2,5 2 2 5 0 9,355 85 9,355 85 Dr. Cash. Cr. 1852. - __ - t 1852. Jan. 1 To Stock 1 2,000 001 Jan. 5 By Mdse. 1 731 25 2 " Mdse. 1 6201001 " 13 1" Store Expenses 2 50100' 9 C" cc 1 1 450 00 " 23 |" Mdse. 2 400100 " 121 " 1I 300100 " 27'" Per. Expenses 2 60100 ", 24 " P. Somers 2 656 251 131 |" E. Peterson 2 320 00 " 26 " Mdse. 2 200 00" " "| Store Expenses 2 155 00'~ 291' 2 569198 1,716.25 4,296.23 " 3 1 " Bal. (on hand) 3 3,0 79 98 4, 796 23 1 4796 23 Dr. Bills Receivable. Cr. 1852~. =1852. Jan. 3 To MIdse. 1 220 40 Jan. 22 By Mdse. 2 35000 9 1 800:,09 " 31 " Bal. (unpaid) 3 1,590o38 20 "'t 2 35|| - " 2.9 " " 2 569[98 1,910.33 1,94038,, 9 1,940 738 1,940 308 YO LEGER, SET I. 2 Dr. Philip Somers. Cr. 1852. J. F. 1852. J. F. Jan. 5 To Mdse. 1 656 25 Jan. 24 By Cash 2 656 25 " 20 "9 ". 2 340 " 3 1 Bal. (due me) 3 _8 4 000) 996.25 -9 Dr. Bills Payable. Cr. 1852. 1852.6 d s. __o Jan3 To Bat. o.a (unpaid) 1,99 Jan. 6 By Mdse. 1 1,990 Dr. Elihiu Barnes. Cr. 1852. 1852. Jan. 3 1 TBal. (due him) 3 54750 Jan. 8 By Mdse. 1 297 50 ~~~~547150 547/5~547.50 547 22 547.50 2 5475000 7 Dr. Thomas tCarpenter c Co. Cr. 1852. 1852. Jan. 12 To Mdse. 1 138 75| Jan. 3 L, By Bal. (due mze) 1 3 85 6 74 " 26' 2 148 00 "' 29 " " 2 569 99 856 74 / 1_856 74 Dr. Store Expenses. Cr. 1852. 182.'Jan. 13 To Cash 2 5000 Jan. 3 l B32Prof.&Loss(loss) 3 205 00 " 31 " " 2 155 00 205.00.-.205100:_ - 205 00 Dr. Martin Pemberton.:, Cr. 1852. 1852. Jan. 19 To Mdse. 2 50000 Jan. 31 By Bal. (due me) 3 joo 71 3 LEGER, SET I. Dr. Ezra Peterson. Cr. 1852. J. F. 1852. J. F.1 Jan. 31 To Cash 2 320 00 Jan. 23 By Mdse. 320 00 Dr. Samuel W. Fairburn. Cr. 1852. 1852. Jan. 26 To Mdse. 2 40000Jan. 1 By Bal. (due me) 3 40 000.Dr. Personal Expenses. Cr. 1852. 1852.e Jan. 27 To Cash 2 60 00 Jan. 1 ByProf.&Loss (loss) 3 6 00 0 Dr. Profit Q Loss.. Cr. 1852'. 1852. Jan. 31 To Store Expenses 2 205 00 Jan. 31 By Mdse.1 1,202 10 "_ " |'" Per. " | 3 6000 265.00 cc "c " Stock (netgazn) 1 9 3 710 1,202 10 1,202'10 Dr. Balance. Cr. 1852. 1852. Jan. 31 ToMdse. 1 2,52250IJan. 31 By Bills Pay. 2 1,990|00 " cc " Cash 1 3,079 98 " " " E. Barnes 2 547 50 " Bills Rec. 1 1,590 38 2,537.50,~, i " P. Somers 2 340100 " Stock (net cap.) 1 6,752 10 "74 Hhds.Mus'do Sugar-Sales Mdse.,Co.B87,94821bs.@4 / 4, 067 39 " 75 " N. O. Molasses, " " " 7,879 Gals. " 182 1,457161 5,525 00 - 30th -- ---— > 30th Sold Peter Parker, Check, 100 Hhds. Cuba Molasses, 10,240 Gals., @ 19/ 1,945160 June 10th Sold Fithian & Morris, Note @ 4 mos., G. T. # 6 1,000 Rolls 4/4 White Matting-Sales of Matting, No. 240,000 Yds., ~ 21/ 8,400 00 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 maclde from this book to the Day-Book. 175 1 OUTWARD-INVOICE-BOOK, SET VI. Invoice of Merchandise, shipped by Thomas Harvey $ Co., pr. Ship Massachusetts, Captain Fillmore, for Canton, and consigned to Hughes, Miller 5 Co., to be soldfor account and risk of Shippers. G. To. C. $ 1 to 500 500 Bales Drills, ea. 40 Pieces, ea. 30 Yds. - 600,000 Yds., G 7$ 42,000 00 4501to600 100 Casks Ginseng, 48,120 lbs., gross, 8,120 " tare, 40,000 " net, 835$ 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 Com. on $63,000, ~. 22% 1,575.00 2,656 25 E.E. $ 6556 25 New York, July 9th, 1852. THOMAS HARVEY & CO. Invoice of Merchandise, shipped by Thomas Harvey C ao., pr. Bark Phillis, Bingham master, and consigned to Daniel Starr & Co., Kingston, Jamaica; Sales and returns for account of Shippers. 29,068" Crushed "8 2,325.44 4,657 25 Feb. 19 Sold Watson G. Gaylord, ~ 10 days, 50 Tierces Rice, 90,200 lbs., ~ 318' 2,931 50 7,588 75 Charges. Ins. vs. Fire on $6,500, (i Am't Ins.,) i 12% 97.50 Cooperage, Weigh., & Lab. 19.62 Com. & Guar. on $7,588.75, @ 5% 379.44 496 56 Net Proceeds, due Apr. 27th $7,092 19 Faxon, Field & Co.'s { net proceeds 2,364.06 Douglass, Forest & Co.'s i " " 2,364.06 Thomas Harvey & Co.'s * " " 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 ones 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. Aug. 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 " 65 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 i" " 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 8 22 521 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 d Co. Interest calculated to Feb. 23d, 1.854. 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 " 2740 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, ( 8% Prem. 8 " 5 " 299 88 7,344 00 Debit Bal. of Interest 4,167 21 Net Gains, due Feb. 23 /54 11,783 56 5,371 87 90,084 77 853. Cr. May 6 By Bal. in Hughes, Miller & Co.'s hands, Due Jan. 1 /53 1,598.24 65% 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 "22 " 142 12 2,069 68 June 1 " Sales of Tea No. 3, due Dec. 14 /53 2 " 9 947 02 82,349 9 " 15 " Sales of Matting No. 2, due Feb. 23 /54 3,982 78 Debit Bal. of Interest 4,1 e7 2i 6,371 87 90,084 77 E. E. New York, June 20th, 1853. 179 ACCOUNT-CURRENT-BOOK, SET VI. 2 Messrs. Faxon, Field & Co., Cincinnati, in Account-Current and Interest-account with Thomas Harvey' Co., to Dr. July 1st, 1853. Cr. Date. When due. Description of Debits. Amount. ~ | Interest. Date. When due. Description of Credits. Amount A Interest 1852. 1852. 1 852. 1852. Nov. 6 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% 4,62812 8 5 18898 Jan. 15 July 18 To our Note, ( 6 mos., favor of " 15 Nov. 10 By your JNet Proceeds of Sales Douglass,Forest & Co.,in Pay't of Pork, for your and our joint of your ~ Invoice furnished by,1853. 1853 pr. Ac't-Sales rendered 4,689 28 7 21 180 54 them, to be sold for your, their, and our joint h 4,155 12 Feb. 28 April27 By yourINet Proceeds of Sales Feb. 5 Feb. 5 To your ~ Invoice of Coffee, fur- of Sugar and Rice, for your, nished by us, to be sold for Douglass, Forest & Co.'s, and your and our joint % 4,483 11 4 26 109 09 our joint %, as pr. Ac't-Sales ~ June 11 Aug. 10 To our NetProceedsofSales of rendered 2,364 06 2 4 25 22 Coffee, for your and our joint April 9 Oct. 26 By your 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 32 85 your, D., F. & Co.'s, and our Credit Bal. of Interest l 9 136 joint %, pr. Ac't-Sales Ren'd 1,713 80 July 1 ByDis. on $4,155.12,pr. contra 17 111 77 /_______ ____ 1 By " " $4,711.36, " " 1 9 30 62 18,349 59 437 13 13,39526 1 437113 Add Bal. of Interest 99 36 I( / I I lI I I 11 By Bal. carried down 4,854 7 1 /_II_18,349159 _s o 18,349159 1 1 1853. _ /..... July 1 To Bal. due us, E. E. 4,854 97 Yew 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. NVew York, September 22nd, 1852. 1Messrs. John Gundry & 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 %e 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. ISaxon, Field & 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-BOOIK, 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 TITIE-BOOK. September. A 1852. > v/ Spinning roomNo. 1. Names. 6 7 8 9 10 11 Wag's Amn't. 13 14 15 16 17 18 Wag's iAmit. Remarks. Ann Robins 11 1 1 116 4,00 4 00 11 1 1 1 1 6 4,00 4 00 Goodh'd. MaryJ. Linn 1 1 - 1 1 1 42 3,00 2 25 1 1 1 1 1 1 6 3,00 3 00 4c c Anne Bowen 1 1 1 1 1 5 3,00 2 50 1 1 3,00 50 Sick. Bet.S.Collins 1 1 1 1 E 5 3,50 2 92 1 1 1 1 1 1 6 3,50 3 50 Good h'd. Susan Holt 1 1 -I 1 14 3,50 2 62 1 1 1 1 1 5 3,50 292 c Phebe Martin 1 1 1 1 1 6 2,50 2501 1 1 11 25 229 Slow 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 fronm Page 120) Sales dccounts, or Consignment d4ccounts. 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., cand other Co. Speculating accounts. 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. ddventure, 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 Sh/i2pment 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 Shi JMassachusetts 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? Ist, 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. —11th, 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 person. —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 difference 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 yourself 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 Orleanscash 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 jourl nalize 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 STEAMBOAT SULTANA'S Steamboat Sultana's Trip No. 1, from Shipper. Embarkation. Consignee. Destination. Mark. Joseph S. Smith Cincinnati 0. A. Ogden N. Orleans 1 (Aj ccc c c Townsend&Williamson Memphis 2 0 John Farlan James Morris N. York 3 H. Jennings " J. Moore & Co. N. Orleans 4 I Anson Avery c" J. C. Buckles Louisville 5 P. Arbuckle & Co. cc Pease & Co. N. Orleans 6 I Fellows & Co. Louisville E. C. Stockton Natches 7 j Armour Lake & Co. Memphis Pervis & Wood N. Orleans 8 p'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 pre97ious 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 Ist, 1853. Freight Description of Freight. Weight. Rate. Amount. Freight and Remarks. paid. received. 200 Bbls. Whiskey 44 88 00 75 00 Gave note forcharges 500 " Flour 30 150 00 on this bill $75 238 00 313 00 700 Bbls. Pork 44 308 00 25 00 300 Firkins Butter 25 75 00 38300 40800 700 Bbls. Flour 75 525 00 Shipper paid freight 900 " Pork 1,00 90000 to New York. Shipped on Brig Ade1,425 00 700 00 1,425 00 laide atN. Orleans, and p'd her freight, $700. 10 Bbls. Eggs 30 3 00 20 " Apples 30 6 00 75 " Potatoes 30 22 50 31 50 31 50 45 Bbls. Flour 15 675 50 Boxes Cheese 2,500 12- 3 13 9 88 9 88 40 Boxes Candles 1,600 25 400 35 " Soap 2,100 25 525 9 25 9 25 50 Pieces Bagging 10 5 00 50 Coils Rope 10 500 10 00 10 00 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 agree with the " Freight and Charges paid" column, and the credit side of the same account with the "1 Freight and Charges received" column. 187 f!2 STEAMBOAT SULTANA'S Steamboat Sultana's Trip No. 2, from Shipper. Embarkation. Consignee. Destination. o e| Mark. T. Saunders N. Orleans L. & G. Farwell & Co. St. Louis 9 cc cc cc cc cc cc cc cc cc cc O. A. Ogden Pratt & Co. 10 | ccc. cc cc c cc, cc ~ cc Pervls & Wood W. B. Morris & Co. Louisville 11 D X) J. Newgate & Co. Samuel Ewing Memphis 12 cc cc cc cc c cc cc cc cc cc cc cc CCcc cc cc cc cc J. McIntire cStacker, Wood & Co. St. Louis 13 cc cc cc cc s P. W. Morrison cc O. B. Batewell cc 14 cc cc cc cc cc A. H. Hawley Vicksburg A. H. Hawley c 15 (on board.) J. T. Lanphier Memphis Joseph Charles & Co. 16 188 FREIGHT-BOOK. 2 New Orleans to St. Louis, June 13th, 1853. Freight ando~ Freight and paid. received. 40 Boxes Mdse. 9,000 30 27100 36 " " 12,600 30 37 80 25 00 45 Bbls. Molasses 30 13 50 30 Hhds. Sugar 33,750 25 84 38 162168 187 68 100 Sacks Salt 20 20 00 150 "I Coffee 20 30 00 25 Hhds. Molasses 25,500 25 63 75 1137511 113175 40 Hhds. Sugar 44,200 25 110 50 66 30 Shipped on steamer Boston, at Cairo, -_ _-___ - and transferred B. 30 Boxes Mdse. 9,000 20 180 L. to her, she pay30 C1rates Crocer 9,0i000 ing our charges, 2 Crates Crockery 1,25 250 $66,30. 5 Bbls. Sundries 20 1 00 10 Cases Shoes 15 1 50 23-00 2300 Scotch Pig Iron 60,000 20 120 00 40 00 Rec'd. Note at 10 400 Blocks French Burr Stone 80,000 20 160(00 65 00 days for $185. (Jour. p. 1.) 280 00 385 00 Cash for Bal. $200.,=,,________________ _ |_ _ -(C. B. p. 2.) 3 Boxes Pianos 1,500 40 00 1200 15 " Furniture 3,000 40 12 00 is800 3000 10 Boxes Sundries 2,500 25 6 25 6 25 20 Bbls. Castor Beans 12- 2 50 8 Casks Sundries 121 100 350 3 50 142,00 815,48! 189 STEAMBOAT SULTANA'S PASSAGE-BOOK. Trip No. 1, from Cincinnati to New Orleans. Date. Names. Embarkation. Destination. Fare. 1853. June 1 Winm. H. Gorin Cincinnati New Orleans 15 00 " "C Thos. Cobart cLouisville 3 00 "ccc Nathan Ives cNew Orleans 15 00 c." Saml. Miller c Vicksburg 12 00' "C Norman Bliss cNew Orleans 15 00 cc R. A. Butler cc cc 1500 cc " S. H. Hartly and lady cc C 30 00 CC James Benson - cc 15 00 "cc C J. N. Norton Miss Norton Louisville Memphis 2400 C" Bates c cc I. Peterson cc New Orleans 15 00 cc 3 D. C. Budd Smithland cc 11 00 c 4 R. Buttles Memphis cc 9 00 cc " Miss Stanley c Natchez 6 00 cc 6 B. Burton Vicksburg New Orleans 6 00 cc cC Peter Quinn 6 00 c "r J. G. Carlton cC 600 cc 7 Benj. Black Natchez c 400,c c Philip Frazer cc 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-PassageaBook 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. 1853. June 13 J. B. Stackhouse New Orleans St. Louis 12 00 cc cc R. D. Dewey cc c 1200 cc Peter Vanderlip, cc 12.00 cc " Francis Guerlain cc Memphis 800 " cc Marcus Snow c Vicksburg 500 cc cc Matthew White " St. Louis 1200 " " M. E. Brown " 12/00 cc "c S. N. Green cc c 1200 "Ccc D. V. Black cc Natchez 4l00 " J. B. Jerome, wife, St. Louis 4500 and 2 daughters c "ccc David Cross and lady 2400 C cC S. B. Beekman cc c1200 c' c J. Andrews CC 12 00 cc cc John Armour cc Cairo 11 00 cc "C Madame Shawl and St. Louis 1800 cc cc servant cc " D. Parks cc cc 1200 " " Silas Buck cc 12 00 cc cc Seth Stone, wife, 35 00 and sister c14 John Peacock Natchez cc 10 00 cc "c C. Loffland cc cc 1000 cc cc C. B. Bowes cc cc 1000 cc 15 A. H. Hawley and lady Vicksburg cc 10 00 cC S. Birdseye Mc cc 9 00 c 16 S. W. Lewelling Memphis cc 500. "c Miss Simpson cc cc 5 00 I" " Wm. Roberts cc cc 500 "c Jas. Raflin cc C 5 00 cc Dr. McDowell cc s 500 " " T. B. Withers c " 5 00 " " C. B. Payne cc 5 00 Am't. from Deck-Passage-Book 685 00 C.-B. page 2 $1,039100 191 STEAMBOAT SULTANA'S Dr Cash. Jour Freight. Passage Sundries. Amount. page. 1 To Simonds & Morrison, for cash advanced Boat - 500 00 " Freight, on Bill Lading, No. 3 - -,425 00 " " "'''' " " 5- 988 c cc cc cc cc cc 2 - 9 88 l C " c " " 2 - - 408 00 C cc Cc Cc C CC 7 - 1000 "Passage as pr. Passage-Book - - 249 00 Freight, on Bill Lading, No. 1 - 313 00 cc " cc " 4 " 31 50 14 cc 6 -C C c " 6- 9 25 c " cc 8 - 25000 6- - Rec'd for Freight this trip 2,456 63 _ 2,45663 1 " c" Passage " " 24900 24900 | ] _|- Total cash receipts I| 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 CAISH-BOOK. Cash. Cr. Jour. Expenses.i Wages. Freight. Sundries page. By Charges paid on Bill Lading, No. 2 2500 " Groceries at Cincinnati - 30100 " Marketing " 20 00 c; ButterandEggs" " - - - - 1500 c" Wharfage " - - - 5 00 " Wharfage " Louisville - - 1 00 " Canal Tollage " "- - - - 7500 " Wharfage " Cairo - - - - 1 00 c" Marketing c" Memphis- - 10 00,.4 cc Wharfage " - - - - 100'" " "c Natchez - - 100 Z "Fuel, as pr. Fuel-Book 0000.A "~ Marketing at New Orleans - - - 600 "Freight paid Brig Adelaide on Bill Lading No. 3 - 700 00 "M. B. Butler on - - - 5 00 " Benj. Stockton "' - - - 400 "C Peter Lawrence - l1 50 " David Lyndes " " - - - - 1000 c Samuel Johnson " "- - - - 2000 C J. C. Allen 3", - - 300 cc R. E. Patterson cI- - - - 1200 " Caleb Woolson " " 5 00 C Sarah Williams C cc - - - 300 cc Ralph Brown C " - - - - 15 00 " Henry Webb " " - - 5 00 " Nathan Hatch " " - - 3 00 James Manning "' " - - - - 10 00. Thos. J. Bates c" " - 10 00 1:Paid for Expenses this trip 365 00 365 00 1 ", ", Wages "'c 106 50 _ 106 50 1 C " Freight " 72500 725 00 1 Total cash payments 1,196150 " Balance on hand carried to Trip 2:2,00913 3,205 63 the C 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 c" Amount" column. The items in the " Sundries" columns are then journalized. Z 193 2 STEAMBOAT SULTANA'S Dr. Cash. Jour. page. Freight. Passage. Sundries. Amounat To Balance from Trip No. 1 - - - 2,00913 " Freight, on Bill Lading, No. 12 - - 23 00 cc cc Cc cc cc 11 - 66 30 | Passage as pr. Passage-Book - - - 1,03900 CC Freight, on Bill Lading, No. 9 - 187 68 cc c cc Cc cc cc 10 - - 113 75 CC CC CC cc cc cc 13 - 200 00 CC CC cc cc cc cc 14 - - 3000 cc CC c CC CC " 15 - 625 CC cc cc cc cc 16- - 3 50 1 Rec'd for Freight this trip 630 48 63048 1 " " Passage " " 1,039 00 1,039 00 1 Total cash receipts 1,669 48 1,66948 3,678 61 To Bal. on hand Bro't down - - - 2,92697 194 CASH-BOOK. 2 Cash. Cr. Jour. Expenses. Wages. Freight. Sundries. page. By Charges on Bill Lading, No. 9 - 25 00 cc cc " " " "C cc 13- - 105 00 c cc c cc cc 14 - 12 00 c Groceries at New Orleans - - 100 00 " Marketing " " - - - 35 00 " Wharfage " " - - - 5 00 "c Marketing "c Vicksburg - - 15 00 " Wharfage'C " 1 00 " Marketing " Memphis - - 20 00 cai " Wharfage " " - - 100 ~ c" Fuel, pr. Fuel-Book- - - - - 150 00 z D. Lyndes in full - 50 00." CC S. Johnson c" c 40 00, J. C. Allen " " - -- 6 00 " R. E. Patterson c" " - -c 15 00 " C. Woolson " "- - - 700 " Sarah Williams C c - - - - 420 cc Ralph Brown cc "- - 21 00 C Henry Webb " " - - 580 c N. Hatch " "- - 900 " M. B. Butler " " - - 580 " Benj. Stockton " " - - - 11 00 "c Peter Lawrence " " - - 450," James Manning " "- - 73 34," Thos. J. Bates " " - - 3000 1 I Paid for Expenses this trip 327 00 327 00 1 c c Wages cc" " 282 64 _ 282 64 1 cc c" Freight cc cc 142 00 14200!1 i ]Total cash payments 75164 B; ailance on hand carried down - - 2,926 97 3,67861 195 STEAMBOAT SULTANA'S JOURNAL. Trip No. 1, from Cincinnati to New Orleans, June 1st, 1853. Freight Dr. To Bills Payable 75100 75100 1 for charges on B. Lading, No. 1 1 Cash Dr. To Sundries 3i205163 2 To Simonds & Morrison 500 00 1 " Freight 2,456 63 1 "' Passage 249 00 1 Sundries Dr. To Cash 1,196150 2 Expenses:365 00 2 Wages 106 50 1 Freight:725 00 Trip 2, from N. O. to St. Louis, June 13th, 1853. 1. Bills Receivable Dr. To Freight 185 00 185 00 1 for part pay't B. L. No. 13 1 Cash Dr. To Sundries 1,669 48 1 To Freight 63048 1 " Passage 1,039 00 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 -1 Bills, Receivable - - - 1 Balance - - - - 2 P. Passage -1 Profit & Loss - - - - 2 C. Cash 1 S. Simonds & Morrison - - 2 ~~~~E. ~W. Expenses - - - 2 Wages - -2 197 1 LEGER. Dr. Freight. Cr. 1853 By Cash 1 2 456563 Trip 1 To Bills Pay. 1 7500 l Trip 1 By Cash 2456|63 cc c Cash 1 725100 c" 2 " Bills Rec. 1 185 00 c 2 c iDo. 1 14200 c cc " Cash 1 63048 " ":Profit Loss 2 33011 3,27211 3,272 11 Dr. Bills Payable. Cr. 1863. -1853. Trip 2 To Balance 2 7500 Trip 1 By Freight 1 75 00 Dr. Bills Receivable. Cr. ri853.!1 1853. Trip 2 To Freight 1 185 00 Trip 2 By Balance 2 18500 Dr. Cash. Cr. 1853. 1853. Trip To Sundries 1 3,205 63 Trip 1 By Sundries 1,19650 1 2 Do. 1 1,669 48 cc 2 c" Do. 1 751164 4,875 11 4,87511 _' 4,875 - " lalanc 2 2"926197 Dr. Passage. Cr. 1853. 1853 Trip' 2 To Profit 8 Loss 2 1,288 00 Trip 1 By Cash 1 249100 2 " Do. 1 1,039 00 198 LEGER. 2 Dr. Wages. Cr. 1853. 1853. Trip 1 To Cash 1 106 50 Trip 2 By Profit 8f Loss 2 389 14 "C 2 " Do. 1 282 64 Dr. Simonds 8 Morrison. Cr. 1853. 1 853.' Trip 2 To Balance 2 3,03697 Trip 1 By Cash 1 50000 2 1 Profit & Loss 2 2,53697 Dr. Expenses. Cr. Trip 1 To Cash 1 365 00 Trip 2 By Profit S$ Loss 2 69200 cc 2 "C Do. 1 327 00 Dr. Profit 4g Loss. Cr. i3. 1853. Trip 2 To Wages 2 389 14 I[Trip' 2 IBy Freight | 1 2,330|11 cc cc " Expenses 2 69200 " " Passage 1 1,28800 cc cc Cc Simon'ds Morrison 2 2,536 97 3,618 11 3,61811 Dr. Balance. Cr. Trip 2 To Bills Rec. I 185 00 Trip 2 By Bills Pay. 1 75!00, |" CC Cash 1 2,92697 c c" Simonds 4J Morrison 2 30397 3,111197 3111 97 199 STEAMBOAT SULTANA'S CRETV'S LEGER. This is used for keeping the accounts of the hands. It is a book of original entry, and n fact entirely independent of any of the other books. Its form is so simple as scarcely o need any description. The names of the hands are recorded in it similarly to the titles the main Leger, and if needed for convenience, an alphabet may be used for referring to hiem. Under the name of each person, the time when he commenced, and the agreement with tim for wages, &c., is stated. Amounts paid him from time to time are entered to his lebit, and, as often as is desirable, a settlement is made and credit given for wages. > 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 manufacturing business. 200 CREW'S LJEGER. James Mannhing, (Capt.) Dr. Cr. 1853.1 Commenced June Ist, 1853, at $125 pr. mo. June 10 To Cash on 0% 10 00 c 20 " Do. in full 73 34 "c "_ I By ~ month's Wages'___ 83 34 83 34 83 34 Thomas J. Bates, (Clerk.) Dr. Cr. 1853. Commenced June lst, 1853, at $60 pr. mo. June 10 To Cash on % 10 00 " 20 " Do. in full 3000:. " By ] month's Wages 40 00 40 00 40 00 David Lyndes. (Pilot.) Dr. Cr. 1853. Commenced June 1st, 1853, at $100 pr. mo. June 10 To Cash on 10 00 cc 18 " Do. in full 50 00 cc " By 3 month's Wages 60 00 60 00 60 00 Samuel Johnson, (Engineer.) Dr. Cr. 1853. Commenced June 1st, 1853, at $100 pr. mo. - June 10 To Cash on % 20 00 c 18 " Do. in full 40 00 cc" cc By 3 month's Wages 60100 60 00 60100 Ralph Brolwn, (JMate. Dr. Cr. 1853. Commenced June 1st, 1853, at $60 pr. o'o. June 10 To Cash on % 1500 " 18 " Do. in full 21 00 "cc " cc IBy - month's Wages 36 00 36100 36100 I —I=2A 201 2 A 201 2 CREW'S LEGEIR. Benj. Stockton, (Steward.) Dr. Cr. 1853.1 Commenced June 1st, 1853, at $25 pr. mo. June 10 To Cash on 7 4 00 CC 18 " Do. in full 11 00 Ic "c By 3 month's Wages _ 1500 - 1500 15 00 R. E. Patterson, (Carpenter.) Dr. Cr. 1853. Commenced June 1st, 1853, at $45 pr. mo. June 10 To Cash on 7 12 00 C" 18 " Do. in full 15 00 cc s By - month's Wages 27 00 27 00 27 00 Morris B. Butler, (Deck hand.) Dr. Cr. 1853. | Commenced June 1st, 1853, at $18 pr. mo. 5 00 June 10- To Cash on 500 cc 18 " Do. in full 5 80 CC ]" By - month's Wages 1080 10180 1080 J: C. tllen, (Deck hand.) Dr. Cr. 1853. Commenced June lst, 1853, at $15 pr. mo. June 10 To Cash on % 3100 CC18 " Do. in full 600 Cc CI c By - month's Wages 9 00 lHenry Webb, (Deck hand.) Dr. Cr. 1853.8' Commenced June st, 1853, at $18 pr. mo. June 10 To Cash on 500 Cc 18 CC Do. in full 5 80 CC " Do By - month's Wages 10 80 = CREW'S LEGER. 3 Nathan Hatch, (Fireman.) Dr. Cr. 1853. Commenced June 1st, 1853, at $20 pr. mo. June 10 To Cash on 0 31 00 cc 18 " Do. in full 9 00 By 3 month's Wages 1200 Caleb Woolson, (Fireman.) Dr.. Cr. 1853. Commenced June 1st, 1853, at $20 pr. mo. June 10 To Cash on 500 "c 18' " Do. in full 7 cc "C By ~ month's Wages 12 00 Sarah Villiams, (Chambermaid.) Dr. Cr. 1853. Commenced June lst, 1853, at $12 pr. mo. June 10 To Cash on % 300 c 18 " Do. in full 4 20 ", "By 1 month's Wages 720 Peter Lawrence, (Cabin boy.) Dr. Cr. 1853. Commenced June 1st, 1853, at $10 pr. mo.I June 10 To Cash on' 150 c 18' Do. in full 450 -"| " By T month's Wages 6 0(1 203 STEAMBOAT SULTANA'S BALANCE SHEET. St. Louis, Face of Leger. Profit & Loss. Simonds & Morrison. Balance. June 20th, 1853.. June _20tli, 1853. _ Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Freight. 1 2,330 11... 2,330 11 l Bills Pay 1.. 00.... 7500 Bills Rec. 1 18500...... 18500 Cash 1 2,926 97. 2,926 97 Passage. 1.. 1,288 00. 1,288 00 Wages.. 2 389 14.. 389 14 Simonds & Morrison. 2 5000.. 500 00 Expenses 2 69200..11 692 00 4,193l11 4,193 11 To Simonds 4 Morrison,for Netproceeds 2,536 97. 1,536 97 3,618 11 3,618111 To Balance, for lnm't due them 3,036 97.. 3,036 97 3,036 97 13,036 97 3.111 97 3,111 97 MANIFEST. Steamer Sultana's Trip No. 2, from N. O. to St. Louis, June 17th, 1853. Mark. Articles. Consignee. Destination. TA L ||40 Boxes Mdse. L. & G. Farwell & Co. St. Louis. 36'" Do. cc cc " 411 5 Bbls. Molasses I cc cc' 30 Hhds. Sugar " c' <|O < 100 Sacks Salt Pratt & Co. C " 150 " Coffee CC c } 7 25 Hhds. Mols. cc [ 1 Scotch Pig Iron Stacker, Wood & Co. CC 400 Blocks French Burr Stone " C, 3 Boxes Pianos O. B. Batewell I" 15 " Furniture |~ i) |10 " Sundries A.H.Hawley(onboard) ", 20 Bbls. Castor Beans. Jos. Charles & Co. c: "I' 18 Casks Sundries cc JD JD A 40 Hhds. Sugar W. B. Morris & Co. Louisville. D |30 Boxes Mdse. Samuel Ewing Memphis. cC 2 Crates Crockery cc cc "cc 5 Bbls. Sundries cc cc "I 10 Cases Shoes cc cc THOS. J. BATES, Clerk. A manifest, as will be readily seen by the above illustration, is an exhibit or 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. Steamer Sultana's Trip No. 1, from Cin'i to N. Orleans, June 10th, 185 3. Receipts. Cash for Freight, as pr. Freight-Book - - - - 2,456 63 " " Fare of 22 Cabin passengers - - - - 2 00 cc" " " " 15 Deck Do. - - 38 00 Expenditures. 2,0563 Charges on B. L. No. 1, paid by Note to J. S. Smith - 75,00 CC c " c " 2, " in Cash' " - 25,00 Freight"' c " 3, " " cc cc 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. S H I P P E D, by T. Saunders, on board Steamboat Sultana, whereof James iManning is master, now in the port of JN. Orleans, and bound for St. Louis, viz.: 76 Boxes Jklerchandise, 45 Bbls. JMolasses, and 30 Hhds. Sugar, being in good order and well conditioned, marked and L 40 Boxes. numbered as in the margin, and to be delivered in like good E 36 " order and condition (dangers of the river excepted), unto L.; G. " 45 Bbls. Farwell ~ Co., or to their assigns, he or they paying freight " 30 Hhds. on the said Merchandise. IN WITNESS WHEREOF, the Master of To L. 8 G. Farwell S Co., said Steamboat hath affirmed to three Bills of Lading, all of this St. LouiTos. tenor and date; one of which being accomplished, the others to St. Louis. stand void. Dated in N. Orleans, the 13th day of June, 1858. 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 FO0R FR-EIGHT. Messrs. L.:& G. Farwell & Co., To Steamer Sultana, Dr. For Freight on 76 Boxes Mdse. 21,600 lbs. @ 30 c. 64,80 " " " 45 Bbls. Molasses @ 30 c...... 13,50,,,, ~,c 30 Hhds. Sugar,; 33,750 lbs. @ 25 c..... 84,38 St. Louis, June 18th, 1853. $162,68 Rec'd. payment, THOS. J. BATES: C.lerk. 205 FORMS OF NOTES, DRAFTS, RECEIPTS, &c. PROMISSORY NOTES. $225-35. Cincinnati, JNovember 5th, 1852. On demand, I promise to pay A. Farnumn, or bearer, two hundred and twenty-five -3r dollars, with interest. Value received. PETER LAMBERT. No. 16. $1,200. JVNew Orleans, Jovember 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. SMITHSON & CO. No. 80. No. 1, 125. Philadelphia, January lst, 1853. Eight months after date, we severally and jointly promise to pay to the order of J. Durant six hundred and seventy-five and o50 dollars, without defalcation, for value received. recei ved7 5 -5~NATHAN PETERSON. $67P ~ 1 OJ. W. MORRIS. $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 anote, 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 ", Or bearer," "Or order," or ", To the order of." DUE BILLS. Due, Cincinnati, January 4th, 1853, to S. P. Long, or order, thirty-five dollars, in goods from our store, value received BOYLE & BENEDICT. $35. $413-2IDue, on demand, to Messrs. Laflin & Stephens, four hundred and thirteen 2 dollars, with interest. JOHN LUCAS. Memphis, July 5th, 1853. NoTE. —Due bills draw no interest unless speciiied. 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. k1cin, WM. ROGERS. Boonville, Mo. $2,000. Jemphis, 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 advice. JOHN S. MARTIN & CO. To Messrs. Brander Willias, JOHN S. MARTIN & C New Orleans. 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. J\Vew Orleans, KJov. 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. F. & R. E. TITUS. To Mr. J. Conly,F. & R. E. TIT Philadelphia. 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 07 I CLARK & CO. To Messrs. Barings S Co., London. Exch. ~900 Sterling. Philadelphia, JMarch 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 & Co., London. Exch. ~900 Sterling. Philadelphia, March 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 CLARK & CO To Messrs. Barings & Co., London. 207 BILLS AND SETS OF EXCHANGE. REMARKS. 1st. A bill of exchange has nearly the same phraseology as a draft. But the former name is gene. rally applied to a bill drawn payable in a foreign country or state, while the latter is restricted chiefly to a bill pay. able 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 remnain 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 usacnce, 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. Memphis, JMay 22d, 1852. JVNew Orleans, J.November 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 TYours, &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 dollars, 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, 1858. 208 20o ar*ue -o CTcLA, a ff, r-i~az~ba~ ~eta~c;P C6goz6S, Gakedaznckal rOKe4 2 B- 209 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 Shiopoing business is shown in Set VI. The Form for &teamboat books has also been given. 210 PRACTICAL FORM, No. 1. This 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 Sundries. 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 c Shop," may have any other heading, such as " Profi ssional 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. I3, 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 Cash, On hand / Shop, Stock of Tools, pr. Inventory V/,cc, Shop To Cash, v Paid for Paints, Oils, Glass, Brushes, &c., pr. Adams' Bill,c Bailey T. Stokes To Shop, Lettering Tin Sign 1.75 2 V 1 Light Stained Glass 5.00 " 2 Shop To Cash, V/ 2 Books Gold Leaf, 75/, making Step Ladder, $5.00 " " Mayland, Morris & Co. To Shop, Bronzing Candelabra 3 V cc Shop To Cash, Muslin V/ " 3 Thomas Templeton To Shop, Bronzing Valve.50 3 V 6 lbs. Blue Paint, ~ 25g 1.50 18 " White " " 122 2.25 Cash To Shop, v Glazing 27 Lights for S. Lambert, 10 by 12, G 25, "c 4 Camden & Amhboy R.-R. Co. To Shop, 3 V Lettering Sign, 60 feet, ~ 20j pr. foot 12.00 Gilding Border of Sign 2.00 Putting up Sign 2.50 " " Shop To Geo. L. Searles, 4 days' labor, ~ $1.50 V 4 C Geo. L. Searles To Cash, On % 4 V Shop To Cash, Paid Wages, pr. Time-Book / V / 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, G 20, 3.00 Making Board and putting up 4.25 cc Shop To Henry Talbott, / 4 Making Sign for Camden & Amboy R.-R. Co. cc Cash To Shop VV/ Rec'd of John Payson, for painting Sign, pr. agreement cc 7 Cash To Bailey T. Stokes, In full of % / 2 cc 8 Shop To Jonathan Long & Co., Paints, Oils, &c., pr. Bill V 4 c Jonathan Long & Co. To Cash, In part of above Bill 4 V/ (cc ccShop To Wm. G. Bradbury, Bill of Paints, Glass, &c. V/ 5 " c 9 Thomas Templeton To Shop, Glazing 1 Light, 11 by 18 3 V c" 11 Jonathan Long & Co. To Sundries, 4 To Cash, Paid on V To Shop, Glazing 10 Lights, 10 by 18, ~ 25 Vs/ cI i scShop To Geo. L. Searles, 52 days' labor, ~ $1.50 V 4 cc cc Geo. L. Searles To Cash, On % 4 V/ cc c Shop To Cash, Smith, Wages in full / / In Bank, $364.93, in Safe, $10.00oo=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 212 DAY-BOOK FORM 1. Dr. Cash. Cr. Dr. Shop. Cr. Dr. SUndries. Cr. 575 00 500 00 75 00 105 32 105 32 6 75 6 75 575 575 2 00 2 00 37 37 425 425 i75 675 1650 1650 600 690 3 00 300 600 6 00 506'75 12044 7 25 725 300 300 30 00 3000 675 675 52 64 52 64 2500.2500 140 00 140 00 37 37 1250 1000 2 50 825 825 9 00 9 00 413 413 543 50 16857 1600 1600 54350 16857 40646 9237 10262 791164 Bal. 7493 Proof 1,05258 1,0521 58 213 2 DAY-BOOK, FORM 1. Philadelphia, September 15th, 1852. L.F. Date. Description. Dr. Cr.l Dr. Cr2 1852. Amounts Bro't forward Sep. 15 J. Long & Co. To Camden & Amboy R.-R. Co., 4 3 My order on C. & A. R.-R. Co., favor of J. Long & Co. 17 Cash To Shop, 37 lbs. Blue Paint, ~ 25) V V 18 Shop To Geo. L. Searles, 32 days' labor, ( $1.50 V 4 cc cc Geo. L. Searles. To Cash, In full (discharged) 4 V c" " Cash To Shop, v/v 4 C2 Lights, 10 by 20, Stained Glass, ~ $4.50 cc cc Shop To Cash, Smith, Wages in full / / 1 1 2 2 In Bank, $374.48, in Safe, $5.25 1852. Sep. 20 Balance Cash on hand, from Sept. 18th,'c cc Cash To Shop, Sold to T. Stone 120 lbs. White Paint, ~ 11, cc cc Shop To Cash, Repairs of Shop/ V Making Transparency Frame " c 22 Sargeant & Willis To Shop 5 V Stained Glass Transparency, Frame, and putting up, as agreed 24 Cash To Shop,/ V 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: 66 Lights, 11 by 15, (, 9f 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, ( 45ji 49.50 Reception Room 5.25,cc Shop To Cash, Paid Wages, pr. Time-Book V 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 cc cc Shop To Cash, / Paid P. Lee for Sundry Jobs Carpentering, as pr. Bill c 128 " for 10 Gals. Linseed Oil, ~ $1.622 c 29 Cash To Shop, Rec'd for Tin Sign V/ / crc " Shop To Cash, Tin and Japanning V/ "c 30 Sargeant & Willis To Shop, Painting Office, as agreed 5 V IC " cShop To Cash, /V Paid H. 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, in Safe, $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. 543 50 168 57 406 46 92 37 10262 791 64 1514 15 14 9 25 7 525 9 25 5 25 5 25 750 750 9 00 900 6 00 6 00 56175 182 07 417 71 110 62 125 26 812 03 Bal. 3 879 68 Proof 1,104 72 1,104 72 379168 379 68 1320 1320 2 12' 212 4 38 4 38 40 00 4000 2500 2500 210 00 210 00 134 12 13412 251 63 25163 627t 832 13 2100. I_ I _.. I. 21 00 22 150 10 00l 10 00 4 25 4 25 3000 3000 6 00 600 1667 1667 637 88 9780 9780 462 32 225 12 400.68 Bal. 64 00S Proof 96080960 80 540108 540 215 BALANCE SHEET, LEGER, FORM 1. Philadelphia, Face of Leger. Profit & Loss. Stock. Balance. 0 September 30th, 1852. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. ~~~~~~~~~~~~~~~Dr. Cr. Dr.C. Stock... 1.. 57500.... 57500 Cash...1 54008.........54008 Shop. 2.. 5743. 19793... 14050 1 4 0 00 210 Personal Expenses.. 2 2100.o 2100 Bailey T. Stokes. 2 134 12.......1341 12 Mayland, Morris & Co.. 3 200...... 200 Thomas Templeton. 3.. 16 38....... 1638 Camden & Amboy R.-R. Co. 3 861.... 861 Henry Talbot. 4.. 300...... 300 Wm. G. Bradbury. 5.. 140000....... 14000 Philadelphia Exchange 5 16.00......1600 Sargeant & Willis.. 5 7000..... 70 00 791 81' 79181 To Stock, for Jet Gain 176 9... 17693 197-93 19793'.Net Capital 751 93 751o93 751 93.........1~ ~~Total Resources and Liabilities 91131 15938 *~~Inventory.~~ I[~ WJNet Capital, as pr. Stock ~. 751 93 91131 91131 Stock of tools 75.00'L "C paints 65.50 paints65.0 This Balance Sheet is given that it may be compared with Statements to Set I, Single Entry, page 24. $140.50 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 Merchandise 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, b: 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 amWunt 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 columns 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 salne business, and with much more satisfactory results. In order to have a proof of each page, an amount equal to the footing of the Merchant dise column must also be carried forward into the Sundries debit column. 2 C 217 1 CASH-BOOK, FORM 2. Dr. Cash. Date. Mdse. Sundries. 1862. Oct. 1 To Stock, Amount invested 910 50 " 7 " Bills Receivable, Rec'd for D. Mann's Note, No. 3 525 00V cc 11 " Merchandise, Sales pr. P.-C.-B. 25 37 cc 12 " Do. se" ", 123 44 cc 13 " Do. "c c 62 31 " 14 " Bills Receivable, John Allen's Note, No. 2 125 50 v cc cC' "Merchandise, Sales pr. P.-C.-B. 10 15 c 15 c" Do. " " c 2 16 cc 16 c Do. 217 42 D.-B., folio 1, 440 85 44085V 1852. 2,001 85 Oct. 18 To Balance from Old % 566 09 c c,' Wm. Bates, In full of % 3050V cc cc C" Bills Receivable, Slade & Co.'s Note, No. 4, due Jan. 18th /53, less Dis., pr. Contra 51 60V C" Merchandise, Sales pr. P.-C.-B. 76 50 cc 19 c" Do. " " " 11000 cc 20 cc Do. "c " "31 00 c 21 " Do. " " 60 78 " c22 4" Do. " " " 26 10 23 cc Do. Ad " "e 356 05 c c25 c" Do. " " " 91 10 " 26 " Do. " " " 4613 c c27 " Bills Receivable, J. Bailey's Note, No. 6, due Apr. 12th, less Dis., pr. Contra 100 OV cc " Merchandise, Sales pr. P.-C.-B. 77 77 " 28 " Isaac Norris, On % 10 cc cc " Merchandise, Sales pr. P.-C.-B. 81 29 c" 29 " Interest, Dis. on Note, No. 1, pr. Contra 8 76/ cc c" " Merchandise, Sales pr. P.-C.-B. 106 10 cc 30 c" Do. " " " 25166 D.-B., folio 3, 1,314 48 1,314 48v' 2,081 43 1852. =_ Nov. 1 To Balance from Oct. 30th 152. l 965.96 The above Cash-Bookc 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 up, 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 the credit side, is the recipient of sums paid for expenses from 218 CASH-BOOK, FORM 2. Cash. Cr. Date. Expenses. Sundries. 1852. Oct. 8 By Expenses, Travelling Fare, Board at Boston, and other Incidental Expenses, as pr. Memorandum 31 25 " c" " Merchandise, Paid Freight 12 50V/ cc " 9 "( Do. Purchases, pr. Invoices 1,353 260/ 11 c" Expenses, Blank Books, pr. Bill 11 5 " 12 " Do. 1 Ton Coal 450 c" 16 " Barber T. Lee, On % 6 OOv " c c'c "Expenses, Wages of Clerks 16 50 D.-B., folio 2, 64 00 64 OOV c "cc " Bal. on hand to JKew 7c 5 6 609 1852. Oct. 18 By Interest, Dis. on Note No. 4, pr. Contra _ 77v/ cc" c " Barber T. Lee, On % 2 00V cc 22 " Expenses, Paid for Store Fixtures 13 00 cc cc " Do. " Bill of Stoves 22 50 cc 23 " Do. " Wages 8 75 cc 25 c" Do. " Porterage 1 13 27 " Merchandise, Bo't of Philip Trent, Agent of Abbott Lawrence, Boston, pr. Invoice 510 28V/ c cc Interest, Dis. on Note No. 6, pr. Contra 1 77,v " 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/ cc 30 " Expenses, Paid Wages 9 12 Do. " Rent of Store, 1 mo. 15 00 C cc " Barber T. Lee, " In full 10 75V/ D.-B., folio 3, 69 50 69 50V " I " I " Bal. on hand, to Nov. 1st /52 965 96 _ 2,081 43 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 before 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 adams, Mass., October 11th, 1852. L. W. Sewing Silk 6$, Thread 4$ 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 35 B. T. L. 25 Yds. Eng. Thread Lace,, 28$ 7.00 cc 10 " Lisle Edging " 30$ 3.00 " 1 " Bobbin Lace.15 " 12 " Emb'd Muslin, " 55$ 6.60 16 75 " {- lb. Sewing Silk, " 8.00 2100 EXPLANATION. S. A. J. Lace 10$, Sewing Silk 4$, Cord 7 621 2 Prs. Lisle Thread Gloves, 311$ 8 The Petty-Cash-Book here. 1 " Cold id " 69 given is a small memorandum Oct. 11th /52. C.-B. 25 37 book, which lies in the money 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 1,460 87 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 1,408 76 Then, at night, the footing Balance Cash on hand 52 11 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- 2 Yds. White Illusion, 32.64 35 64 Book, as the day's sales. B. T. L. Blk. Twist 13$, Edging 22$ 35 The left hand marginal L. W. 1 Box Artificial Flowers 1 50 column is used for the initials s Floss 25$, Twist 15$ 40 S. A. J. 1 Changeable Silk Mantilla 18 00 of the persons by whom the B. T. L. 3 Lace Capes, O 4.75 14125 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, i 12 Yds. White Satin, ( 1.25 15.00 be done in a retail business, to " " Col'dVelvet, " 3.00 15.00 35850 avoid errors. L. W. L Doz. Neck Ties, " 4.75 2 37 " Twist 09 NOTE.-The sales of onlytwo daysarehere 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 7 90 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.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. 1,20000 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. 84550 4 " Daniel Webster, " 62075 11th 4 James Peabody To Mdse., j Doz. Linen Cambric HIdkfs. @ 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 1 76 I Velvet Mantilla 25 00 1 Lace Cape 4 50 40 50 14th _ Expenses To Wm. Bates, 5 For his Bill of Repairs 10 00 1000 16th 4 Mrs. Eliza Anderson To Mdse., 1 Pr. Blk. Kid Gloves 69 5 Isaac Norris To Mdse., pr. daughter, 1 Blk. Silk Mantilla 2 Embroidered Collars ~ 1.122 2 25 17 25 1 Cash To Sundries, pr. C.-B., 1,091 35 2 To Bills Rec., 7th 125.00 Do. 14th 125.50 650 50 CC" Merchandise, Cash Sales Mdse. carried forward 506 29 50629 7,363 04 7363 04 221 _ 2 DAY-BOOK, FORM 2. North ddams, Mass., October 16th, 1852. L. F. {L. F.I ISundries Dr. Sundries Cr. Mdse. Cr, Mdse. brought forward 506 29 506 29 1 Sundries, To Cash pr. C.-B., 1435 76 1 Merchandise, 8th 12.50 Do. 9th 1,353.26 1,36576 5 Barber T. Lee, 16th 6 00 2 Expenses, For the mo. 64 00 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 1 13 2 " Lisle Thread" 6 31 62 5 00 21st 5 Isaac Norris To Mdse., pr. wife, 5 Yds. Swiss Muslin @ 25 1125 1 " Green Barege 1 White Demi Veil 1 5 1 Blk. " " 75 1 Fancy Silk Scarf 1 88 6 68 4 Mrs. Eliza Anderson To Mdse., 1 Embroidered Robe 500 5100 25th 6 Misses T. & M. Williams To Mdse., 1 Ps. Blk. Crape 3 00 3 " Col'd " @ 3.25 9 75 12 75 26th 3 Profit & Loss To Bills Receivable, 2 Note No. 1 is lost, the drawer, P. T. Lamb, having failed. 25 00 2500 gc 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 60 222 l~~ 2X,004j91 2,004 91 222 DAY-BOOK, FORM 2. 3 North.dams, Mass., October 29th 1852. Sundries Dr. Sundries Cr. Mdse. Cr. Mdse. brought forward 539 60 539 60 6 Hiram T. Owens To Mdse., (continued) 4 55 3 Neck Ties ~ 31' 94 2 Prs. Embroidered Cuffs " 56' 1 12 1 Box Artificial Flowers 1 38 4 Linen Cambric Hdk'fs " 45 1 80 9 79 30th Expenses To Barber T. Lee, 5 1 month's Wages to date 20 00 00 1 Cash To Sundries, pr. C.-B., 1,515 34 5 To Wm. Bates, 18th 30150 2'" Bills Rec.,,, 51.60 i" Do. 27th 100.00 151 60 5 " Isaac Norris, 28th 10 00 3 "c Interest, 29th 8 76.4/) " Merchandise, Cash Sales 1,314'45 1 Sundries To Cash pr. C.-B., 1,11547 3 Interest, 18th.77 Do. 27th 1.77 254 5 Barber T. Lee, 18th 2.00 Do. 30th 10.75 12 75 1 Merchandise, 27th 51028 2 Bills Payable, 29th 52040 2 Expenses, For the mo., 69 50 1 Total Merchandise Credits 31863 87 1,863 87 3)200 20 3,200 20 TRIAL BALANCE, LEGER, FORM 2. Dr. Cr. L.F. 1 Stock 2,500 00 1 Cash - - - - 965f96 1 Merchandise - 4,097 92 2 Bills Receivable - 372 90 2 Bills Payable - 1,709 60 2 Expenses -- 163150 3 Interest -. 6122 3 Profit & Loss - 25100 3 Abbott Lawrence - - - - 845 50 4 Daniel Webster - - - 620 75 4 James Peabody - - - - 588 4 Mrs. Eliza Anderson - - - 44 5 Isaac Norris - - 13 93 6 Hiram T. Owens - 14 79 6 Misses T. & M. Williams - - 12175 5,682 07 5,682107 In closing this Leger, the Mdse. remaining unsold, as pr. Inventory, may be called $4,563.89. 223 BALANCE SHEET, LEGER, FORM 2. North Adams, Mass.,. t Face of Leger. Profit & Loss. Stock. Balance. November 1st, 1852. l Dr. Cr Dr. Cr. Dr. Cr. Dr. Cr. Stock.... 1. 2,50000 2,50000 Cash...1 965 96.965 96 Merchandise 1 4,09792 4 5 6 3 8 9 465 97 4,563 89 Bills Receivable.. 2 372 90......372 90 Bills Payable.. 2. 1,709 60... 1,709 60 Expenses.... 2 16350. 16350 Interest... 3. 6 22. 622 Profit & Loss 3 25 00 25 00 Abbott Lawrence. 3 845 50... 845 50 r Daniel Webster.. 4. 62075... 620 75 James Peabody... 4 5 88. 5 88 Mrs. Eliza Anderson.. 4 9144. 944 Isaac Norris... 5 13 93.......... 13 93 Hiram T. Owens.. 6 14 79 14 79 Misses T. & M. Williams.6 12 75.... |..... 12 75 5,682107 5,682 07 To Stock, for Net Gains 283 6 9 * 283169 4721191 47219 Net Capital 2,783169 2,783 69 2,783 69 Total Assets and Liabilities 5,9595411 3,175185 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 5.95954 5,959 54 Balance Sheet. E. M. LAFOURCADE, SON & CO. PRACTICAL FORM, NO. 3. PLAN FOR JOURNALIZING MONTHLY. 2D 225 EXPLANATORY REMARKS, FORM 3. T'HIS 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 headintg 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.' The disadvantage of this Form, compared with Form 4, is, that accounts of p1ersons are seldom posted up ready for settlement, but are generally nearly, or quite, a month behindhand. JO URNAL 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 "1 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 trahsferred into it monthly from the other books. -Directions for Wiriting 2'p. 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, Sales. Book, and Bill-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. Commence with 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 Ca hBook at any time, affix to each sum its proper date. Having completed the debits, next journalize the credit side, saying " Sundries To Cash," and debitin.f 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 accounts follow them. This renders convenient the taking of Trial Balances and other exhibits from the Leger. i'~- 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 00 / c " Louis P. Lafourcade, it cc 5,000 001/ "c Chas. Boutelier, Jun., it, 5,000 001/ "c 2 " Merchandise, Sales this day 37 50/ cc 3 c Do. Of Grayson & Co., less Dis. pr. contra 357:40/ " t 4 Do. Sales this day 319 80/ " 5 c Do. " " "i 25 00O "e c 6 " Do. " " " 3788V 20,777 58 8 " Samuel Tillotson, On /c 500 001/ cc 9 "1 Merchandise, Sales this day 339 001/ "c 10 " Interest, Dis. on Bills Pay. No. 3, pr. contra, $2,806.84 ( 5 %g 140 341/ " 11 " Bills Receivable, No. 1, discounted by Durbin, Payson & Co. 562 501/ "12 " Merchandise, Of Jacob Lukens, Jun., less Dis. pr. contra 216 001/ " 13 c" Do. Sales this day 6 301/ 22,541 72 16| " Interest, Dis. on Bills Pay. No. 4, pr. contra, $492.50, for 52 days 427c 20 " Merchandise Sales this day 75 00/ 22,620 99 c 23 " Merchandise, Net Sale to Peter Phelps, 19th inst. 180 00/ " 25 " Bills Receivable, No. 7, discounted by Julius & George Lee 398 671/ 7 27 Merchandise, Sales this day 00o1/ 23,209 66 29 " Merchandise, Of Benj. Loper & Co., less Dis. pr. contra 408 001/ 1 " " Samuel Tillotson, On ct 500 0o0 c "c Merchandise, Sales this day 40 50 30 " Mrs. Mary Green, In full 7 811/ 24,165 97 Dec. 1 To Balance, From Nov. 30th 10,787 02 228 CASH-BOOK, FORM 3. 1 Caslh. Cr. 1S52. Nov. 1 By Merchandise, Bo't of Isler & Co., pr. Invoice 643 501/ 2 " Expenses Store Fixtures 30 00i/ c c" c Do. Drayage & Labor 12 25"/ " 3 " Interest, Dis. 5 % on $357.40, pr. contra 17 871/:' 5 " Merchandise, Bo't of T. Lathrop, pr. Invoice 162 941/ "r r" " Do. Hoops for strapping boxes 15 00/ " 6 " Expenses, Cooperage 3 501/ In Banko 19,874.13 j I Sa/fe 18.39 $19 892.52 885 06 c c 8 " Joseph Ralston, on % 5 00V/' " 9 " Merchandise, Bo't of Le Brun & Bro., pr. Invoice 82 101/ "v cc" Expenses, Blank Books and Stationery 14 251/ " 10 " Bills Payable, No. 3, discounted by us, pr. contra 2806 841/' " 11 " Interest Dis. on Bills Rec. No. 1, pr. contra, $562.50 ( 5 o 28 12// (v 12 Do. Dis. on Sale to Jacob Lukens, Jun., 5th inst., pr. contra, $216 @ 5 % 10 801/ CC 13 " Webster & Shaw, Boston, Paid their Draft on us ( sight, favor of Ludlow & Co., 725 dated 3d inst 725 001/ Inz Ban k 17,163.40 $17,984.55 4,557 17 " 15 " Merchandise, Bo't of Lind & Beers, pr. Invoice 562 OO0/ " 16 " Bills Payable, No. 4, discounted by us, pr. contra 492 50-/ " 18 " Expenses, Cooperage, Labor, &c. 2 75,/ cc" v " Louis P. Lafourcade, On % 500 00/ " 20 " Joseph Ralston,.10 00i1/ v;" " " 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 imos. from date of Invoice, purchased of Ledoux & Cornelle, on Brown, Shipley & Co., Liverpool,' 92 % Prem. 741/ i" " Merchandise, Freight on above, and Shipping Expenses in Eng. 56 751/ "vvs 1" "( Do. Duties on ~160 8s. 6d. (@ $4.84 pr. ~) @ 30 % 232 941/ In Ba7nk 15,420.50 $15,426. Ta, Safe 5.64 $15,426.14 7,194 85 " 22 " Expenses, Paper & Ink - 751/ " 25 " Interest, Dis. on Bills Rec. No. 7, pr. contra, $398.67 @ 5 % 19 93V/ " 26 " Bouvier Brothers, On a% 1,000 001/ cc 27 " 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. " Niagara" 1) 554 34/ " Merchandise, Shipping Expenses in Eng., and Freight 113 501/ " v C"( " Do. Duties on ~320 17s. (@ $4.84 pr. ~) @ 30% 465 87/ ITn Bankc 12,625.18 $12,860.42 In Safe 235.24 $12,860.42 10349 24 " 29 " Interest, Dis. on Sale to Benj. Loper & Co., 26th inst., pr. contra, $408 ( 5 20 401/ " 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 %/0, 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 Cornm. for accepting 1 %, f.101.76 = f.10,277.76-Exchange ( f.4.89 to the dollar. 2,101 791/ "C "; Merchandise, Transportation from Wohlen, Shipping Charges and Com. of Agent at Havre, and Freight on above Mdse. 186 401/ " a Merchandise, Duties on f.10,176 (@ 18-o0%% J pr. f.) @ 30 571 121/ " Expenses, Rent of Store $75, Wages of Clerks $75 150 001 "C " ~ (" Balance, In Bankl $10,719.10, In Safe $67.92 1 0,7 8 7 0 2 24,165 97 229 BILL-BOOK, FORM 3. Bills No. of When' Date of Note. f Received. Drawer In whose favor. Date of Time. 1852. 1852. 1 Nov. 2 Durbin, Payson & Co. Ourselves Nov. 2 6 mos. 2 4" 3 Willard, Brady & Co. " c" 3 6 3 " 8 Ourselves Accepted by Ferree & Bro. in our fav. Oct. 28 6 " 4", "' " " Nov. 8 6 5 " 11 Decoursey & Wise Drawer " 11 6 " 6 " 18 Julius & George Lee " " 18 4 " 8 4C 44 cc tC II 8 9 " 251 " Ourselves 125 5" Bills No. of When Drawer. In whose favor. Date of Time. Note. Issued. Note. 1852. 1852. 1 Nov. 1 Ourselves Drawer (% of Dufour, N. & Co.) Nov. 1 2 mos. 2', 46 44 44 44 4 4 " 4 " 5 " Margot & Haines " 5 60 days 5 C 10 "c Drawer (% of Dufour, N. & Co.) C 10 3 mos. 6 "( 16 cc "4 "c 16 6 " 7 " 23 c" " " 23 4 " 8 " 29 Margot & Haines " 29 90 days 9 " c cc E. B. Bolton C 29 4 mos. 10 3 " 30 Dufour, Nephew & Co. Acceptedbyusinfav. of Drawers " 30 3 230 BILL-BOOKU, FORM 3. Receivable. When due. Where due. o Amount. Remarks. Bank of Louisiana 5 562 50 V Discounted Nov. 11th New Orleans 6 102 97 V 94 1 377 25 V 10 377 25 V Bank of Louisiana 14 259651 V 21 39867 V 4 21 398 67 / Discounted Nov. 25th 21 39866 V Planters' Bank 28 297 00 V 28 297 00 V 3,469 62 V Payable. When due. Where due. 1 Amount. Remarks. Bank of Louisiana 4 2,806 83 V' 4 2,806 83 V 4 It 2,s06,84 / Discounted Nov. 10th Planters' Bank 7 492 501 " " 16th 13 652136 V1 ( 19 II 422o10l V 26 210,28 V t2 z 910i35 V New Orleans 1 712M00/V Bank of Louisiana 3 116511 75 11,985184 V 231 l 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 1/ 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 c" 120 " " Lasting ~ Gaiters 90 108 00 1 " 60" " Col'd ", c 80 48 00 2 " 120 " " Kid Slippers R.R. 70 84 00 2 " 120 " Misses' Goat Lace Boots 75 90 00 1 " 60 " " R. R. Paris Ties 622 37 50 12 Cooperages 25 3 00 562 5En CC / 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 " " " 472 23 75 37 50 3d 1/ Willard Brady & Co., (Note pr. B.-B.) Orange St. 75 Scores Rock Luton Plait, No. 4 @ 45 33 75 100 " " " " " 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 ( 1.25 225 00 119 Maids' Feather Edge Bonnets 1.10 130 90 4 Cooperages 25 1 00 1 Case 50 di 4th Paid Cash Sales, 10 Prs. Men's Stout Boots ( 1.98 19 80 1/ Dolbear & Reikert, Memphis. 48 Women's Cap'd Bonnets ( 1.122 54 00 48 " Tulip " 1.20 57 60 50 " Eng. Straw" 372 18 75 Box & Cooperage 75 131 10 Paid Jones, Brother & Co., (Net) Canal St. 4 Cases, 240 Prs. Women's Lasting Gaiter Boots @ 1.25 300 00 Ain't forward I 1,58882 232 SALES-BOOK, FORM 3. 2 New Orleans, November 5th, 1852. 1,588 1/ Samuel Tillotson, Gravier St. 10 Cases, 600 Prs. Women's Goat Buskins 0 1.15 690 00 30 Ladies' Open Fancy Bonnets 382 11 55 701 55 Paid Cash Sales, 100 Infants' China Pearl Bonnets ( 25 25 00 Paid Jacqb Lukens, Jun., St. Louis St. 12th 4 Cases, 240 Prs. Women's Kid Slippers R. R. @ 90 %/01 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 30100 37 88 8th 1/ 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 1/ Mrs. Mary Green, Calliope St. 25 Women's Rock Luton Bonnets @ 311 7 81 11th / 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 " " C 35 5 25 12 " Sacramento " 472 5 70 112 " Tulip " 26 29 12 180 " Alboni " 311 56 25 130 " Bedford " 37 48 10 50 " Fancy Coburg " 50 25 00 10 " Patent " 90 9 00 10 " ",.25 12 50 10 " Split Straw " 60 6 00 2 Boxes & Cooperage 1 50 259 65 13th Paid Cash Sales, 18 Maids' T'iplar Bonnets ( 35 6 30 15th 1/ William P. Lewis, Market St. 2 Doz. Fr. Straw Lace, Emb'd @ 6.00 12 00 Ain't forward 2,648 58 2 E 233 3 SALES-BOOK, FORM 3. New Orleans, November 18th, 1852. 2,648.58 1/ 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 c" 80 192 00 4 " 240 " Women's Kip Lace Boots 60 144 00 4 " 240" " Calf " " 00 216 00 32 Cooperages 25 8 00 1,196 00 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 /I$ ) 00 20th Paid Cash Sales, 50 Doz. Tassels @ 1.50 75 00 22d V Ferree & Brother, Natchez. 12 Maids' Feather Edge Bonnets @ 1.03 12 36 50 " Plain Straw " 622 31 25 62 Paper Boxes 3 186 45 47 25th / Julius & George Lee, (Notes pr. B.-B.) Baton Rouge. 6 Cases, 72 Prs. Men's Calf Stitched Boots ( 5.00 360 00 6 " 72" " " 1 Sewed " 3.25 234 00 594 00 26th Paid Benjamin Loper & Co., Poydras St. 29th 8 Cases, 480 Prs. Women's Kid Slippers, R. R. @ 85 45$ 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 00 30 Women's Tulip " 1.15 34 50 30th 40 50 i/ Benjamin Loper & Co., Poydras St. 5 Cases, 300 Prs. Youths' Stout Brogans ( 622 187 50 5 " 300 " " Kip," 50 150 00 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. M1erchandise To Edwin MI. Lafourcade. Invested, as pr. Invoice 13 3 3 15th 3 Joseph Ralston To Dolbear & Reikert, Order of J. Ralston on us, favor of Dolbear & Reikert, 25 00 30th _ Expenses. To Joseph Ralston, Wages for one month 00 1 Merchandise To Sundries, Purchases this month, pr. Invoices. 3 To Dufour, Nephew & Co., Notes ( 2, 4 & 6 mos., 1st 8,420 50 4e e " " 3 mos., 10th 652 36 "6 " 16th 422 10 "4 " 23a 210 28 " " 3 " 30th 165 75 9,870 99 3 4" Webster & Shaw, Boston, Mass., Draft, 3d 725 00 [ C Ce" " 4 mos., 17th 556 50 " " 4 " 25th 1,342164 2,624 14 3 " Margot & Haines, Note @ 60 days, 5th 492 50 it', 90 i" 29th 910135 1,02 85 3 " Bouvier Brothers, 2 mos., 13th 840 60 4 " 26th 610 18 1,450 78 4 "Lewis Davis & Co., 3 " 18th 2,133190 4 " Jones & Riggs, Lynn, Mass., 6 " 22d 1,840 00 4 " Brainerd & Son, 4 s 29th 1,445 80 4' E. B. Bolton, Note @ 4 mos., 712 00 Cah 21,480 46 1Cash To Sundries, Receipts pr. C.-B. 1 To Edwin AI. Lafourcade, ost 10,000Oo 1 " Louis P. Lafourcade, e 5,000 00 1 " Charles Boutelier Jun., 5,000 00 "Merchandise, 2d 3750 Sd 357 40 - 4th 319 80 5th 25 00 6th 37 88 9th 339 00 12th 216 00 13th 6 30 20th 75 00 23d 180 00 27th 10 00 29th 408 00 it "v " 40 50 2,052 3U 4 " Samuel Tillotson, Sth 500 00 29th 500 00 1,00 0 "1 2 " Interest, 10th 140 34 et cc 16th 4 27 144 61 2 e" Bills Receivable, 11th 562 50 25th 398 67 961 1 5't" Mrs. Mary Green, (Sundry Debtors) 30th 7 81 24 165 97 235 2 S JOURNAL, FORM 3. New Orleans, November 30th, 1852. 1 Sundries To Cash, Payments pr. C.-B. 1 Merchandise, 1st 643 50 5th 162194 15100 9th 82 10 15th 562 00 20th 780 74 56 75 232 94 27th 1,554134 "II. 113 50 it ". 465 87 30th 2,101 79 186 40 "L. 571 12 7,528 99 2 Expenses, 2d 30 00 12 25 6th 3 50 9th 14125 18th 2 75.s;22d 75 30th 150 00 213 50 3 Joseph Ralston, 8th 5100 20th 1000 15 00 2 Bills Payable, 10th 2,806 84 1I6th 492 50 3 2991 34 2 Interest, 3d 17 87 11th 28 12 12th 10 80 25th 19 93 29th 20 40 97 12 3 Webster & Shaw, 13th 725 00 1 Louis P. Lafourcade, 18th 500 00 3 Bouvier Brothers, 26th 1,000 00 30th 13,378 95 2 Bills Receivable To Sundries, Rec'd pr. B.-B. 4 To Durbin, Payson & Co., 2d 562 50 5 " Willard, Brady & Co., 3d ~102 97 5 | Ferree & Brother, Sth 377 25 377125 754150 5 " Decoursey & Wise, 11th 259 65 5 " Julius & George Lee, 18th 398 67 " "II< 398 67 " "H 398 66 25th 297 00 297 00 1,790100 3,469 62 2 Sundries To Bills Payable, Issued pr. B.-B. 3 Dufour, Nephew & Co., 1st 2,806 83 2,806 83 " 2,806184 10th 652 36 (Entry continued) 9,072 86 236 JOURNAL, FORM 3. 3 New Orleans, November 30th, 1852... F. Sundries To Bills Payable, (continued) 9,072 86 Dufour, Nephew & Co., >16th 422 10 23d 210 28 30th 165 75 9,870 99 3 Margot & Haines, 5th 492 50 "a 29th 910 35 1,402 85' 4 E. B. Bolton, 712 00 30th 11,985 84 1 Sundries To Merchandise, Sales pr. S.-B. 5 Ferree & Brother, 1st 679 50 cc 8th 75 00,, 22d 45 47 799 97 4 Durbin, Payson & Co., 2d 562 50 3 Dolbear & Reikert, " 112 75 "4 2 4th 131 10 243 85 5 Willard Brady & Co., 3d 10297 4 Samuel Tillotson, 5th 701 55 ifrt~~~~~~~~ 27th 1,215 00 1,916!55 5 Morris L. Halsey, (Sundry Debtors) 6th 375 5 Mrs. Mary Green, i t 9th 7 81 5 Decoursey & Wise, 11th 259 15 5 William P. Lewis, (Sundry Debtors) 15 th 1200 5 Julius & George Lee, 1Sth 1,19600 Ad 25th 594 00 1,790 00 5 Benjamin Loper & Co., 30th 600 00 _ _ _ _ _ _ _ _ _ _ _ ___ __ __ ___ __ __ __6,299 05 2 Interest To Sundries, 1 To Edwin M. Lafourcade, On Capital to Dec. 1st 118 14 1 " Louis P. Lafourcade, "t "t " " " 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.. 218 85 This Trial Balance, it will be seen, 4 Samuel Tillotson.. 916 55 5 Ferree & Brother 4547 is made out in 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 %'d having balances due firm - 1,796 62 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 LJones & Riggs.. & Co h1,84000 hibits can be easily made. 4 Brainerd & Son.1,445 80 The third division, commencing Personal ez/c having balances firm owe 7,794 62 with the partners' names, is all that dwin Lfourcade23,74 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 34,286136 2 Bills Receivable - 2.508 45 In closing this Leger, the Jler2 Bills Payable...... 8,686 50 chasdise remaining unsold, as pr. In2 Interest -..57 ventory, may be called $36,637.11. Personal /cd due firm 1,79662 Personal l firm owe -._ — 7,794062 49.776i52 49.776,52 The Leger is given in the Key. 237 BALANCE SHEET, LEGER, FORM 3. New Orleans, Face of Leger. Profit & Loss. B. M. Lafourcade. L. P. Lafoiurcade. Chas. Boutelier, Jun. Balance. December Ist, 1852, Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. E. M. Lafourcade I. 23,746 48 23,746 48 L. P. Lafourcade... 4,523 92..4,523 92 Chas. Boutelier, Jun. 1.. 5,025 00.... 5,025 00 Cash....1 10,787 02.....10,787 02 Merchandise.1 34,2866 36,6371 11 2,35075....36,63711 6,6 3 7 1 1 2, 50 75 ~~~~~~~~~~~ ~ ~ ~~36,6!7 14! Bills Receivable 2 2,508 45..2,508 45 Bills Payable.... 8),686 50..,66 50 Interest.2 119 57. 119 57 Expenses.. 2 278 50.. 278 50 Personal due firm 1,796 62 1,796 62 Personal % firm owe.7,794 62 7,794 62 49,776 521 49,776 52 To E. M. Lafourcade, ~ Net Gains 97 6 34.976 34 " Loutis P. Lafourcade, I "1 "1 48 8 81 7.488 17 cic 66 Chas. Boutelier, Jun., " " 48'817 48817 oo 2,35075 2,8 5075 Net Capital 24,722 82 24,72282 24,722 82 Net Capital 5,0122 0 9_ 5,012 09 5,012 09 Net Capital 551-'17 5,513 171 5,513117 Total Assets and Liabilities 51,729 20 16,481 12 E. M. Lafosrcade's Net Capital 24,72282 L. P. Lafourcade's " " 5,012 09 G. Boutelier, Jun.'s " "I 5,51317 51,729 20 51,729 20 PRINGLE & FIELD. PRACTICAL FORM, NO. 4. POSTING DIRECT FROM VARIOUS BOOKS OF ORIGINAL ENTRY. 239 EXPLANATORY REMARKS, FORM 4. This Form is intended for wholesale, jobbing, importing, or manufacturing houses, and will be found a laborsaving 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 Trial Balances, and other exhibits from the Leger. OZr 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 Pkhiladelphia, January 1st, 1853. L. F. F1'Merchandise To Sundries, 1 To J. S. Pringle, Invested pr. Invoice, 565 15 1 "' R. N. Field, " " 436 24 1,001 39 13th Interest To Laflin and Stephens, For Int. on H. C. Corbit's Note, No. 3, Rec'd of them this day, as pr. B.-B., in part for Sales pr. S.-B. 4 83 18th 2 f. C. Corbit To Sundries, 1 To Bills Receivable, For No. 3, now due, 500 00 2 "C Interest, On the above, 5 25 505 225 20th 5 Sundries To Brown, Shipley & Co. 5 Leaf & Morrison, MIvanchester, For their Draft on B., S. & Co., Liverpool, in payment for Mdse., as pr. invoice of Jan. 2d, rec'd this day, Amt. ~606, 13s. Sd. (@ 4 mos.) 2,696 37 1 Merchandise, B., S. & Co.'s Corn. @ 12 9 2 0 Shipping Charges at Liverpool,. 2 4 Int. on Cotn. 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, 6000 6 " Sam'l Bartlett, " "0 90 00 1 Merchandise To Sundries. Purchases this month, as pr. Invoices and C(ash-Book. 2 To Henry C. Corbit, 1'art Cash, Bal. Note, ) 3 mos., 2d. 11,245 65 " Do. Do. H 3 mos., 13tih. 543 30 11,788 95 4 " See, Brother & Co., Note H 4 mos., 6th. 1,545 25 " Do. Do. Cash, 25th. 850 00 2,395 25 5 L" Leaf & Morrison, Manchester, 20th. Invoice of Jan. 2d, pr. "Thomas P. Cope," ~606, 13s. 8d. 2,696 37 5 " Downer & Stewart, New York-Draft, 21st. 1,341 50 6 " C. W. Churchman, H 4 mos., 27th. 2,563 75 6 " S. B. Rawley, Note (H 3 mos., 29th. 1,260 75 C.-B. " Cash Purchases, Walsh & Co., 3d. 225 00 C.-.B. " Do. Do. Walsh & Co., 11th. 53 34 C.-B. " Do. Do. A. Clark, 13th. 545'50 C. -B. " Do. Do. WTalsh & Co., 15th. 454 25 C.-B. " Do. Do. Duties pr. "Cope," 20th. 825 26 C.-B. " Do. Do. A. Clark, 25th. 150 25 C.-B. " Do. Do. TVWalters & Co., " 125 50 C.-B. " Do. Do. Exch. on Note No. 3, for goods pr. "Cope," 27th. 246 82 2,625 92 24,672 49 The Day-Book is used for recording such transactions as cannot properly be entered in either of the other books 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 in a blank book prepared for the purpose, called an Invoice-Book. Purchases off time ard supposed to be entered in the Day-Book from the original invoices, either as filed or preserved 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 ill total to Merchandise. 2 F 241 CASH-BOOK, FORM 4. Dr. Cash.,,.... Date. L.. Int. Cr. B. Rec. Cr. Cash Dr. — 853. Jan. I 1 To J. S. Pringle, Amt. invested,................. 8,000!00 1 1 I R. N. Field,.......... 8,00000 2 S.-B." Cash Sales, This day,....................... 28 00 3 S.-B. " Do. Do......................... 16125 16,044125 " 6 S.-B. " Cash Sales, This day,- 171i 65 " 3 " S. C. Atkinson, Rec'd on % 400 00 " 7 S.-B." Cash Sales, Rec'd of P. G. Collins & Co. for i Sales made them 4th inst., less Dis. pr. contra, 119 00 " 9 S.-B. " Cash Sales, This day,........................ 639 35 " 9 / " Interest, Dis. on Bills Pay. No. 2, pr. contra, 30 90 30:90 10 S.-B." Cash Sales, This day, a 14,00 11 4 " Burgess & Walker, In part for Sales, pr. S.-B., — --.- - - 100M00 11 %/ "Bills Receivable, In full for Elliot & Burnap's Note, No. 1, due July 5th, less Dis. pr. contra...............601 28 601 28 18,120 43 " 14 S.-B." Cash Sales, This day,....................... 310i75 " 15 S.-B. " Do. Do. "........................ 900 " 16 S.-B. " Do. Do........................ 65!00 " 17 4 " Burgess & Walker, In full for Bal. of % due pr. Average, Mar. 29th, 1850.... 71 24' 18 S.-B." Cash Sales, This day,....................... 25725 I__ 18,8831,67 "20 4 " T. W. Lakeman & Co. On %.......................... 80100' 20 4 " Turner, Wheelwright & Co. Rec'd pr. mail on 00%.............00 " 21 S.-B. " Cash Sales, This day,.- -.. 150 63 " 23 S.-B. " Do. Do. "........................ 37112 24 3 " S. C. Atkinson, Rec'd for Sales pr. S.-B............ 53629 "' 25,/ "Interest, Discount on Bill of See, Bro. & Co., as pr. contra, -............ 25 50 25O50 19,933!21 " 27,, Interest, Discount on Bills Pay. No. 3- l Am't as pr. Contra, including Exch., $2,989.28-from April 14th (time when our Pay't is considered Cash in England) to i May 5th, (when Leaf &,Morrison's Draft on Brown, Shipley &Co.matures,).. ~~ ~~~~ ~~~~. 10i146 1046 27 5 " Cushing & Brother, In full for % due July 20th, 117 10 " 27 S.-B. I" Cash Sales, This day,....................... 244 50 " 28 "/ Bills Receivable, Rec'd pr. mail on Miles & Ransford's Note, No. 4, - -......................... 400 00 400 00 " 29 S.-B. " Cash Sales, This day,..........,03644 " 0 4 " T. W. Lakeman & Co., In full for Bal. of their %, due pr. Average, Oct. 21st,*............................ -.. l 91.50 " 31 S.-B. " Cash Sales, This day,. - 40 20 2 Interest Credits this month, 66 861 1 Bills Rec. " " " 1, -8 1,001 28 281 Cash Debits I 21,8341 Feb. 1 To Balance Bro't down,...................... 4,614105 * In these averages grace is added to the sale, but not to the Cash payment. 242 CASH-BOOK, FORM 4. 1 Cash. Cr. Date. L. F. Int. Dr. B. Pay. Dr. Cash Cr. 1853. Fan. 2 2 By Henry C. Corbit, Paid in part for Purchases, ~...... 7,500 00 " 3 D.-B. "Cash Purchases, Walsh & Co., ~....... 225 00 " 4 / ExlSenses, Paid pr. Exp. C.-B. this week, 28 63 In Bank, 8,275.50} 8,290 62 7,753163 Ins Safe, 15.12)') " 7 3 " P. C. Mortley, On,......................... 12 00 I" 7 I I Interest, Discount 5 on P. G. Collins & Co.'s Bill of 4th, as pr. contra,...5 95 5 95 " 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 4 11 D.-B. -' Cash Purchases, Walsh & Co.,.................... 53 34 " 11 / " Interest, Discount on Bills Rec. No. 1, pr. contra,*.................................................. 1 7 54 1754 "11' " Expenses, Paid pr. Exp. C.-B. this week,- -.. 36 50 In Bank, 8,642.01} IT~ Bn~a 8,5421 8,696.22 11 9,42421 In Safe, 54.219 " 13 D.-B. " Cash Purchases, A. Clark,...................... 545 50 " 14 1 " J. S. Pringle, On,.......................... 175 00 " 15 D.-B. " Cash Purchases, Walsh & Co.,.................... 454 25 "4 16 3 " P. C. Mortley, On,........................ 25 00 17 s7 "Interest, Discount on B. & W.'s A%, as pr. contra,................................ 5 12 5 12 " 18 "Expenses, Paid pr. Exp. C.-B. this week,.- -- - 33 25 lis Bank, 8,110.50 8,1714 10, 33 In Safe, 60.8481.34 0,62 "4 20 D.-D" Cash Purchases, Paid Duties, $805.70, and Freight, $19.56 on Mdse., pr. ship "T. P. Cope," from Liverpool,.- 1,825 26 "21 " Downer & Stewart, Sent them this day, Benson & Co.'s l Draft on Bicknell & Co., New York, 1,341 50 " 21 "/ Interest, Paid 6d Prem. on above Draft,- * 1 68 1 68 " 25 D.-B. " Cash Purchases, A. Clark, 150 25 " 25 D.-B. " Do. WDo. alters & Co., 125 50 " 25 4' See, Brother & Co. Paid in full for Purchases this day, they allowing 35 Discount, 850 00 "' 25 / " Expenses, Paid pr. Exp. C.-B. this week,..... 54 62 In Bank, 5,886.21} 92207 14,011 14 In Safe, 35.86 J'5 " 271 / Bills Payable, In full for our Note No. 3, favor Brown & Bowen, due April 5th, ~617, is. id.,. 2,742 46 2,742 46 1" 27 D.-B. " Cash Purchases, Exchange I 9% Prem. on above Note,. -. -.. * * 246 82 " 27 6 "Samuel Bartlett, On', 16 50 " 27 ~V/ "Interest, Discount on C. & B.'s o, pr. contra, 3 40 3140 " 29 1' R. N. Field, On %, 95145 "' 301 / " Interest, Discount on T. W. L. & Co.'s %, pr. contra................................................... 4 03 4103 "8 311 / " Expenses, Paid pr. Exp. C.-B. this week, 139 56 2 1 Expenses this month, pr. Exp. C.-B. $292.5 6,................. 2 Interest Debits this month, 37172 2 | Bills Pay. " " 4,287 71 - 1 Cash Credits " " 17,259 36 " 31 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 reckoned in days. 243 1 EXPENSE-CASH-BOOK, FORM 4. Philadelphl a, Jcanucar 2d, 1853. 1853. Jan. 2 Paid Store Fixtures,.G. Sims, 25 00 c 4 " 1 Ream Paper, J. Elliot, 2 13 cc " I Drayman,.. 1 50 28 63 " 10 " Stove Bill,. Simpson, 25 00,, 4,,, Labor,. E. Patrick, 1150 11 Advertising, U. S. Gazette, 10 00 36 50 " 13 " 2 Reams Letter Paper,. J. Elliot, 5 00' 17 Stationery Bill,." 10i50 Cc cc " 1 Ton Coal,.Peterson, 4150 c 18 " Painting,.Thomas, 13 25 33'25 s;20 cc Gas Light Bill,. 21 25 is 21 " Freight pr. ", Ocean," from N. Y. 312 c 23 " Carpentering,. G. Sims, 12 50 cc Sundry Bills for Labor..1125 cc cc cc McCleary's Bill for Drayage,..650 54 62 1' 27 " Circulars, U. S. Gazette, 5 00 cc 31 1" Postage, pr. Postage-Book,... 7 56''", " Rent of Store to Feb. 1st,. 80 00 14, John Thomas for wages,..2000., " Peter Baker ",.1500 I,, " S. C. Martin 4.12 00 139 56 Ent'd on Cash-Book, folio 1,..292 56 CASH-BOOK. 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 produceed by including the amount in the monthly debit post to Mdse. from the Day-Book, and in the monthly credit post to Cashj,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 fiom 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 Philade1hina, January 2d, 1853. L. F. 3 N. L. Lippincott & Co. 132 Second St. 129' 5 Ps. Italian Lustring 128' 648 Braces, 405 Yds. 50 80 324 O 127 1313 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, 1222 Yds. u 60 73 50 8 Mouseline de Laine 195 " 2433 " 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 Ps. Col'd Gros de Levant 118 Aunes, 1472 Yds. (a 90 132 75 10 " Blk. Alpacca 320 " 47/ 152 00 20,, Col'd Do. 610," 45 274 50 6 "Olive French Merino 200 Aunes, 250 " 75 187 50 6 " Blk. Paris Crape 72 " 40 28 80 775 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 00 119 00 6th _ C.-B. Cash Sales, S. Burke. 12 Ps. Irish Linen 144 Yds. 5 80 115 20 4 " Mull Muslin 48 " 30 14 40 129 60 3 Jos. Roberts & Co., (Note pr. B.-B.) Harrisburg. 5 Ps. Wlhite Paris Crape 60 Yds. u 45 27 00 8 " ue Do. Do. 96 50 48 00 10 " Super Balzarine 55555 55 305 25 20 " Barege 885 " 372 331 88 712 13 C.-B. Cash Sales, R. Bacon. 1 Ps. Blk. French Merino 42 Aunes, 52! Yds. 0 72 37 80 C.-B. Cash Sales, J. Myers. 1 Doz. Elastic Mitts 4 25 8th 4 Turner, Wheelwright & Co. Pittsburg. 10 Light Silk Shawls aS 10,00 100100 14 Barege Do. 4,50 63 00 16 Cashmere Do. 7,50 120100 10 Brochea Do. 12,00 120,00 12 Embroidered Thibet ShaWls 10,50 12600 8 Plain Do. Do. 7,50 60 00 6 Do. Do. Do. wool fringe 4,00 24 00 7 Do. Blk. Do. Do. " i 3,75 26j25 639 25 Ainm't forward 3,3871 245 2 SALES-BOOK, FORM 4. Philadelphia, January 91h, 1853. L. F. C.-B. Cash Sales, Bryan & Co. 3,8711 8 Brochea Shawls a 10,00 80 00 16 Embroidered Thibet Shawls 9,00 144 00 224 00 -- 9th C.-B. Cash Sales, Turner & Bates. 30 Ps. Assorted Alpacca 923 Yds. @ 45 415 35 10th C.-B. Cash Sales, T. Walker. 1 Ps. Linen Cambric 14 00 11th 4 Burgess &Walker, Lancaster. 4 Ps. Swiss Muslin 48 Yds. 0 38 18 24 10" Jaconet Do. 120 " 40 48 00 10" French Lawn 300 35 105 00 171 24 13th 4 Laflin & Stephens (Corbit's Note in part pr. B.-B.) Cincinnati. 20 Ps. Col'd. Florence 1482 Aunes, 18523 Yds. 1 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 4000 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, 3611 Yds. 1 80 0 289 00 C.-B. Cash Sales, S. Burton. 3 Ps. Bandana H1dklfs. @ 7,25 21 75 15th C.-B. Cash Sales, 2 Doz. Prs. Light Net Gloves 9 00 16th C.-B. Cash Sales, G. Murray. 1 Ps. B31k. French Satin 52 Aunes, 65 Yds. (d 1,00 65 00 17th 5 Cushing & Brother, Chestnut St. 6 Ps. Linen Cambric 72 Yds. 11 1,30 93 60 4 Doz. Prs. I Fing'd Mitts 3,75 1500 2 " Elastic Do. 4,25 8 50 117 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. (1 3,50 21 00 1 " Blk. Silk Velvet 18 Aunes, 22' Yds. 11 3,00 67 50 88 50 20th 5 Miles & Ransford, (Note pr. B.-B.) Columbus, O. 10 Ps. Shusan 330 Yds. 1 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 " 722 1595 5 Blk. English Do. 164 " 205 " 50 10250 614 25 Ain't forward 6,525160 246 SALES-BOOK, FORM 4. 3 Philadelphia, Januar~y 21st, 1853. L. F. 6,525 60 C.-B. Cash Sales, T. Walker. 3 Ps. Fig'd Gros de Nap. 189 Yds. ( 67 126 63 1 Doz. Barege Scarfs 2400 150 3 22d 5 Wm. Chapman, (Note pr. B.-B. Canton, O. 2 Ps. Col'd Poult de Soie 124 Aunes, 155 Yds. @ 75 116 25 15 " Pongee H'dk'fs. 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. t 26 37 12 24th 3 Samuel C. Atkinson, Chestnut St. 4 Ps. Blk. Satin Vesting 112' Metres, 121' Yds. (S 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. S 48 144 00 3 " Blk. Bombazine 62 " 77' 1,00 77 50 221150 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. (a 3,15 220 50 2 " 4 " Serge 204 " 255 1,00 255 00 475 50 29th C.-B. Cash Sales, E. Ely. 3 Ps. German Merino 1333 Yds. S 80 107 00 4 " Col'd Fig'd Gros de Levant 248 Aunes, 310 1,00 310 00 7 ( " LMarcelline 576 " 44 253 44 670 44 6 Aiken & Ransford, Seventh St. 2 Ps. Blk. French Satin 112 Aunes, 140 Yds. 0 1,10 154 00 C.-B. Cash Sales, Binney & Co. 6 Ps. Col'd Fig'd Alpacca 165 Yds. 1S 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, 1122 Yds. 1t 2,00 225 00 31st 6 Welty & Martin, Broad St. DoZ. 5. 5. 5. 15 Doz. Blk. Italian Cravats 1 $12, 15, 18, 225 00 2 lbs. Blue Blk. Italian Sewings 1 $12 24 00 249 00 cc C.-B. Cash Sales, 6 Thibet Shawls S 6,70 40'20 1 | Total month's Sales posted to Credit of Mdse. 9,678103 247 'BILL-BOOK, FORM 4. Bills Nooten e. l|To Credit of whom. Drawer. In whose favor. For whatrec'd. DNte. _ 1853.; ___ 1853. 1 Jan. 2 Elliot & Burnap 3 Elliot & Burnap Ourselves Mdse. Jan. 2 2 " 6 J. Roberts & Co. 3 Ourselves on J. R. & Co. Ourselves " " 6 1852. 3 "s13 Laflin& Stephens 4 H. C. Corbit Laflin & Stephens Nov. 16 1S53. 4 [" 20 Miles & Ransford 5 Miles and Ransford Ourselves Jan. 20 5 " 22 Wm. Chapman 5 Wri. Chapman Ourselves,, 22 I Debit total Bills Rec'd this month. Bills No.of When To Debit of whom. Drawer. In whose favor. For what given. Date of 1853. 11&53. 1 Jan. 2 H. C. Corbit 2 Ourselves H. C. Corbit Mdse. Jan. 2 6 See, Bro. &C. 4 Ourselves See, Bro. & Co. "C 6 3 i 20 Browrn, Shipley & 5 Brown, Shipley & Co. Brown & Bowen Account of " 2 Co., Liverpool on ourselves B. Shipley & Co. 4 i 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 Bills 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. Houses 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 someLimes, 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. l 1th. 6 mos. Bank of N. America,..... 9..... 712 13 ~60 d's. (Philadelphia 18s~..60000 (T Int. from date, Charged Corbit on the 18th. 6 mos. s...... 23.. 614 25 Rec'd Jan. 28th, $400. 6 mos. 25.. 228 75.2,656 41 Pacycable. When due. Time. Where due..' —-- E~. Amount. Remarks. 3 mos.IBank o N. America| 5|*|* *i 37465 6 Purchases $11,245 65 m Cash 7,500 00 4 mos. Philadelphia.... 9 1. I. I. I. t. I. | ~ 1,545 525 Discounted Jan. 9th. 3 mos. Philadelphia *.. 5. ~. r... 5.2,742 46 ~617 is. id. Discounted Jan. 27th. 3 mos. Philadelphia Bank.., 2..1,26075 II 929411 TRIAL BALANCE, LEGER, FORM 4. 3 N. L. Lippincott & Co.. 1 799!50 3 S. C. Atkinson.. 375155 4 Turner, Wheelwright & Co.. 339 25 This Trial Balance is made 4 Laflin & Stephens.... 294122 out in the same manner as the 6 Aiken & Ransford.... 154i00 Trial Balance to Form 3, anu 6 Welty & Martin. 249100 j L for the reasons there given. Personal co having balances due firm 2,211 52 2 H. C. Corbit.... 3805 3 P. C. Mortley... 200 In closing this Leger, the PSamuel Brtlett 28 NMdse. remaining unsold, as pr. | 6 C. X.Samuel Bartlett * * * * *|| 13|2, 50 75 Inventory, may be called 6 C. W. Churchman.... 2,563 75 $18,250.25. Personal %d having balances firm owe - 2,638130 1 J. S. Pringle 8,390 15 1 RI. N. Field 8,340 79 The Leger and Balance Sheet 1 Cash....... 4,614105 are given in the Key. M1 erchandise.... 11 6,041 94 1 Bills Receivable... 1,15513 2 Bills Payable 5,. 006 40 2 Interest 29156 2 Expenses..382 56 Personal ~d due firm. 2,21152 Personal %d firm owe 2,638 30 24,40a520 24,40520 2 G 249 PRACTICAL FORM, No. 5. By malring 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 retasl 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 file 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 ofn file. In order to balance hit 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 mnay be taken from this book to the Cash-Book, and entered "Cash Sales,'fhis 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 the 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 Lager, 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-CASH-BOOK. Dr. Cash. Cask, Cr..Tao. R. B. [Win. S. T. Lucy W. L. Mary S. MargaretT. Betsy BA.[. Louisa C.C. Alvira M. tRecapitulation.I TOTALS. Expenses. TOTALS. 14 45 1 40 10 2150 6 98 372 25 00 4' 60 24 15 Wednesday, Jaan. 1st, 1853. 100 25 19 1125 1 03 1 122 25 30 29 51 Porterage,. 56 38 6 75 187o 04 4 67 2320 18 54 Stationery.1 50 2 26 96 12'2 3,17 t9O 3 335 1187 12 42 1 Ton Coal, 5 00 06 4 52 1 372 4 622 45 5 00 8 24 Fixing Door Lock, 75 5 40 20 50 10 00 1 20 12 59 Advertising in Bulletin, -2 50 27 10 1 05 25 25 10t12 VlO012 15 1 40 _______ 39 13 972 V144 67 Bal. in Draseer....134- 55 2415 2951 18 54 12342 824 259 2525 3972 14467 1.25 26 75 13 25 14 11. 30 1 12'2 70 9;00 Thursday, Tan. 2d, 18537 516 1 ti 4 6212 11 40 75 602 42 26 75 53 632 hrdy an d 83 11s 46 25 76 0 90 45 33 1 20 84 8'9 New Desk,.J. Ward, 10 00 622 0Fixtures o Gas Pipe..1 762~~~ 03 94 6~~~~~92 122 334 144 50 812 ~~~~~~~~~Dray-age. 25 987' 14 40 10 40 14120 622 7!i72 67 42 4-2 E 35 36 77 21 35 8 14 372 41,372 3 20 4460. ErndBy 29 25 4 25 872 21-122 1650 122 34 62 Advertisitg it N. Anerican. 6 (t 11212 40 1 80 10 742 150 IS 50 2_9_358_69___ 0 3 V Bal. in Drawer. 340 19 5362 84 899 50 812 42 432 44 60 34612 10 742 33 95 3358 9 - -J___ - I I 1 i 1 ______ ______________ N e w_ Desk,_._....__._Ward,_10 100 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 that 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 lierehandise 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. HIaving 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 uLpon 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. nt. Dr. B. Ree. Dr. B. Pay. Dr. Cash Dr. 1853. Mar. 1 1 To J. Dunlap, Capital invested 3,00000,6, 1 " S. Robinson, " c 3,00000 1, 1 " T. W. Welch, " "00 10 4 "B.Warner & Co., Their note for sales, due July 13th, No. 1, 1420 00;11 4 "s E. Jones, His check on Phila. B'k for sales 1,53575 id 14 4 "J. Thompson, Rec'd for sales 2,061 75;17 5 6" J. Lapsley & Co., " " " 1995 25 6 24./ "Bills Receivable, Rec'd in full for note No. 1, due July 13th, Amn't $1420 26 27 1393 73 s 4 4" J. Thompson, His note for sales, due Sept. 27th, No. 2 60700 4 " Shepherd & Co., In full for %, due July 15th, Am't 3,068 5778 3,0102 29. Cash, Paid note No. 1 and It., Pr. contra, 1449 3,621 69 "is 6 Do., c 2 466 1,86604 30 4 " J. Smith, For note in full for %, due July 18th, No. 3, 247472 31 4 " B.Warner & Co., Their note for sales, due Aug. 3d, No.4, 21983 is " 2 Interest debits this month 103 20 is it 2 Bills Rec., it " 4,721 55 ____ St " 2 Bills Pay., " " 5,487 73___ "6 " 1 ___Cash "6 " 189,896 70 Apr. 1 To Bal. from Old % 5,518 52 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 sums 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 he checked and passed over. The footing of each- of the several columns this month is the amount to be posted te 252 CASH-BOOK, FORM 6. Gash, 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 400000 1 "Merchandise, t Premium on the above bill I 91 00 14 1 Charges * Our bond for duties on Sharpless & Co.'s cons't., due Apr. 16th, with Int., No. 2, 1,86604 it 24 Cash and Int., Rec'd on note No. 1, pr. contra 1,420 (}0 "1 2,5 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 2993 50 29 V " Bills Pay. and Int., Paid note No. 1, dated 5th inst. 3,636 " ",, Do. Do.' " " 2, cc 14th 187070 31 1 Charges, For ain't of Int, credited charges in Ac't-Sales rendered this day, pr.Ac't S.-B. 589 " 1 "I Do. Paid as pr. Expense C.-B., this month 34530 "3 Store Expenses, " " "50 " " 2 Interest credits this month 12 39___ "6 2 Bills Rec. "6 " 1,420 00 __ "6 " 2 Bills Pay. "6 " 5,487 73___ " " Cash "4 " 13,37818S it" By Balance on hand, to New %I5,518 52 18,896 70 the debit or credit of the account shown by the heading; but the footing of the I" Cashdebit" 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. f Tide premniumn is passed to the debit of.Mcrclsendise, because the sum paid is strictly a part of the cost of goods purchased of'covering & Blache. 253 SALES-BOOK, FORM 6. Philade~phia, March 3d, 1853. S. L. F. Consignor. 4 John Smith, Market St. 8 m. V/ C. D. B 476 1 Case Prints, 1,000 Yds. ( 10 100 00 V/ " B 46G and468. 2 BalesDrillings, 900 12 108 00 v/ P.. C 111 and 112. 2 cc Tickings, 900 c c 17 153 00 V " c 113 and 114. 2 it Extra Do., 850 cc c, 20 170 00 531 00 4th 4 E. Jones, Coates St. 6 m. / E.D.&O. E 210 1 Case Satinets, 600 Yds. i 70 420 00 C C E 208 1 " Do., 720 " " 65 468 00,/ C E 211 1 "c Cassimeres, 500, ",1,00 50000 Vs/ cc" ~ B 212 1 ", Ribb'd Do., 500 cc "1,25 625 00 V P. K. c 115 andll6. 2BalesTickirngs, 900," 15 135 00 / cc C 117and 120. 2 " Do.,, 800 cc 16 128 00 V C. D. B 467 1 cc Check Cottons, 600, " 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. e 70 385 00 C. D. D 5 32aid 533. 2 Bales Check Cottons, 900 " 10 90 00 V IC D 526and529. 2,, Drillings, 950 -" 10 95 00 M. <> 81 2 Ps. Fine Blk. Cassimeres, 80,c " 2,50 200 00 V ", 2," Extra Fine Bl'k. Do., 80" "t 2,75 220 00 V/ cc 84 4,c Super W. D. Blk. Cloths, 92,,, 9,25 851 00 V,, " 5 cc Fine Blue Blk. Do., 120 ", "7,50 900 00 2)741 00 8th 4 John Smith, Market St. 3 m. V M. 86 7 Ps. Assorted Brown Cloths, 175 Yds. 0 4,75 831 25 V c <818 4" Extra Blk. Cassimeres, 160 " " 2,75 440 00 V cc < 82 4, Oxford Mill'd Do., 152,, 2,32 352 64 V c <> 83 2 " Mill'd Drab Do., 84, 2,30 193 20 1,817 09 _ 10th 4 B. Warner & Co., Arch St. Note 0 4 m. V C. D. B 469 and470. 2Cases Extra Fine Prints, 2,000 Yds. 14 280 00 V C D 525and528. 2 Ginghams, 1,800,c cc 20 36000 V E.D.&O. E 201and202. 2 " Satinets, 1,200 65 780 00 1 420 00 11th 4 E. Jones, Coates St. Check on Bank. 4if81. 6 Ps. Fine Blk. Cassimeres 240 Yds. @ $1,24 297 60 " ~82. 3 " Oxford Mill'd Do. 114 C " 1,24 141 36 7 CC "( Mix'd Do. 266 " " 1,00 266 00 C" t83. 1 c" Drab Mill'd Do. 42 CC " 1,22 51 24 3 CC Fine Blue Do. 126'C " 1,22 153 72 3 c" CC " Mill'd Do. 126 C C 1,22 153 72 5 CC Assorted Col'd Do. 212 cc 1 1,11 235 32 " 184. 2 " Super W. D. Blk. Cloths 46 cc Cc 5,00 230 00 2 " Fine Blue Blk. Do. 48 CC," 4,00 192 00 " 485. 4 C Black Do. 100 cc Cc 3,00 300 00 7 " Assorted Green Do. 175 cc cc 3,00 525 00 c" t86. 7 C" " Brown Do. 175 cc cc 3,00 525 00 4, j87. 2 ~" Light Mix'd Do. 50 cc cc 2,50 125 00 2 " Dark c' Do. 48 cc cc 2,50 120 00 " 88. 2 C" Victoria Do. 48 " " 2,00 96 00 5 " " Do. 120 c" C 2,78 333 60 " 89. 5 " Superfine Drab Do. 120 " " 3,00 36000 4,105 56 Add 50 % for Freight, Charges, Duties and Exchange i 2,052178 263 INVOICE-BOOK, FORM 6. Invoice of Cloths and Cassimeres, shipped per Saranak, Turley, bound to Philadelqphia, on ac't and risk of Jamnes Dunlap' Co., Merchants there. and to them consigned, pursuant to their order. ~ s. d. < $81. 6 Ps. Extra Fine Blk. Cassimeres 240 Yds. @ 6s. 9d. 81 0 0 8' Fine Blk. Do. 320'' " 5 7 89 6 8 " i82. 7' Oxford Mill'd Do. 266 " " 5 7 74 5 2 7 cc" " /ix'd Do. 266 " " 4 6 59117 0 "c 8S3. 3 "c Mill'd Drab Do. 126 " " 5 6 34 13 0 3 c" Fine Blue Do. 126 " " 5 6 34 13 0 3 " "cc cc Mill'd Do. 126 " " 5 6 34113 0 5 " Assorted Col'd Do. 212 " " 5 0 53 O 0 " #84. 6 " Super W. D. Blk. Cloths 138 " " 22 6 155 5 0 7'" Fine Blue Blk. Do. 168 "," 18 0 151 4 0 " 8S5. 8 " Black Do. 200" " 13 6 135 0 0 7 c" Assorted Green Do. 175 c" "' 13 6 118 2 6 cc t86. 7 c " cc Brown Do. 175 " "cc 13 6 118 2 6 7 c " " cDo. 175 "c c" 11 3 98 8 9 487. 5 1" Blue Do. 125 c' 12 6 78 2 6 2 " Extra Blue Do. 50 " " 14 8 36 13 4 4 " Light Mix'd Do. 100" " 11 3 56 5 0 5 " Dark " Do. 120'" "C 11 3 67110 0 "c $88. 10 c Victoria Do. 240 " " 9 0 108 O O 5 c" " Do. 120 C" "c 12 6 75 0 0 " 489. 3 c" Superfine Inv. Green Do. 75 " " 18 0 67 10 0 6 "C Drab Do. 150 c" "C 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 C1,872 11 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 blook ruled for the specific purpose. 264 FORM OF A MONTHLY TRIAL BALANCE FOR SIX MONTHS. L.F Dr. January. Cr. Dr. February. Cr. Dr. March. Cr. Dr. April. Cr. Dr. May. Cr. Dr. June. Cr. 1 Stock..9,28800... 9,28800 0.,3 9,288 00 9,288s00 9,288 00 9,288 00ss Cash., ~' 0.. 2,3 66 8 45 ~ Ch~ar~sh 5,518 04 ~ 2,324 66.. 825 30. 1,8261 57 2,763 76 2,65619 5 Charges and Corn.. 787 16 966 87... 1,273 26... 1,546 94... 2,165 7.,798 48 2 Merchandise.,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 4~0,322754 4,36614611'I 6,774t54/'.~Il 6,774151 16 Sharpless & Co..2,591 66... 2591 66.. 2591 66.. 2,591 66... 2,591 66 2,591 66 6 Prem. Int, and Dis. 4671 18. 189 76.. 460 25.. 475 28.. 286 66. 125 160 17 Chas. Duncan 1,667 25... 3,187 18... 3,767 45.. 1,767 45. 1,767 45... 839 15 19 Peter Kelly..795 26!... 2,692 62... 2,692 62. 692 62 7 Mdse. Co. R.. 382 06; 8 Store Expenses 162 5. 322 65.. 556 63.. 69398... 893 75... 1,026 84 20 A. Edwards & Co. 4,472 75 4,472 75.. 2,472 75... 2,472 75.. 2,472 75... 472 75 21 Smith & Williams 1,754F50_ 2,362 61.. 2,362 61... 2,362 61..- 3,862 61... 3,862 61 19,833931119,833 93 Cr 10 Profit and Loss 382 06 412 33.41233 41233 412 33 22 E. Jones 12,348 00. 2,982 99.. 4,345 60 23 Bonnard & Bates.. 42,073 25. 1,073 25... 1,07325... 1,073 25.. 1,073 25 23,430 93 23,430 931 Mdse. CW. Provs...o. 6 ~~~~~25 T.W.Provost &r Co......93053. 1,83840... 2,45225... 5,862 50 20,025 32 20,025 32 11 Bills Payable 2,00000. -. 3,500400... 3,85000 26 J. & G. Henderson..23,016842,9568.6 46 4,796511 ~ ~.. 4,796 68 193, - i9,839568 2107 Manning & Lord......582 28 5582 28 29 Oviatt & Clark *0 *.... 1,667174. 3,985 90 i123~~~~~~~~,430j ~i 3,43019 30,104 17 30,104 17 30 Taylor & Wilson.......64792 4II 11 ~~ 130,8096 50.30,806 507 FORM OF A RECEIVING AND FORWARDING BOOK. Nashville, Tenn., 1853. No of Leger -How Received. Date Rec'd. For whose ac't. N'gs. Weight. Rate. Freight. Storage. Drayage. Total. leger Pk.gs. Folio. Talleyrand Apr. 15. Jas. Swanson, 10 5000 50 25 00 fr. N. Orleans Williamson Co. Char ges. 2500 5 00 1 25 56 25 300 Cumberland Apr. 22. Saml. Walker, 11 3000 25 7 50 fr. Smithland | Columbia,Tenn. Char ges. 1000 300 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 ~Pittsbur _O 60 61 o 66 61 68 70 Pittsburg 300+6O0+4+00~4~++ —0+y50+'35= 3175 1,25 1 38 4107 A.Swain & Co. JO O Park & Selden 2 Crates Crockery - 1145 872 75 1077 Cincinnati 2 Boxes Hardware 71374 925 877 150 8 59 FORM OF A FORWARDING BOOK. Philadelphia, May 3d, 1853. Mark. Consignees. Articles. Weight 8 Boxes | &c. P. Camden 300+600+400+500+450+350+250+325- -3175 TLo |o Park & Selden 2 Crates 520+625 11145 2 Boxes 450 +475 925 John Morris, Conductor, Cars No. 200, 520, 315, 626. 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, theForms 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. }Jllultiply the principal by the rate per cent. per annum, and cut of two Jfigures in t/he product, as decimals: the result will be the interest for one year. Mlultiply 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. MJultiply this fraction by the rate per cent. per annum, and the principal by the product obtained, and in the last product point of two decimal places. RULE III. 1st. When the interest is at 6 per cent. per annum. Mlultiply 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 of 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 interestfound at 6 per cent.-if 4, deduct one-third — 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 - or I of a y'r, and 1 of 3 mos. is 1., and 6 10 d's are 1 0 or I of a y'r, then - of 10 d's is 14, then 3rhos. are 1 of y'r 4)177,24 ~ x6= — x 2954=44,31 Int. 3 mos. 2954 x 1 - =44,31 Int. 3 mos. 10d's are of3mos. 9)44,31 x6=- x2954= 4,92- Do.10d's 2954x 12 —-- 4,92,3Do. 10d's. 4,92k Ans. $49,2343 Ans. $49,23,31 Ans. $49,234 268 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-=293,60Int. at 6 pr. ct 7 1852, 3, 1 16 mos. 3)256,90 Int. 1 y'r 1 y'r 4 m. 10 d's time. 3670x13 6,11,6k Int. at6pr 12) 85,63- " 4 mos. t., 10 d's. 7,13-37" 10 d's 13 x7=9-9 x3670=342,533 Int. 16m. 6)299,7 2 1 wholeInt.at $S349,66t Ans. 21 X7- 7 X3670- 7,131- 1 4. 10 d's 6 pr. ct. Ans. $349,66~_ Add - 49,95,2I Ans. $349,66,9-~ 3. What will be the Int. for 7 months, at 9 pr. ct., on $6,745,52? 6745,52x9=607,09,68 7 x9=-6 3 or 5~, and 6745,52x33-=236,09,32 Int. at 2)607,09,68 Int. 1 y'r 51 x6745,52=$354,13-~ Ans. 6 pr. ct. 6)303,54,84 " 6 mos. Add - 118,04,66 50,59,14 " 1 Ans. 354,13%10, $354,13-r9o Ans. 4. What Int. will accrue on $2,184,25 for 210 days, at 12 pr. ct.? 2184,25 X 12 =262,11,00 *By rule II. at 365 d's to a y'r. 2)262,11 Int. 1 y'r Al- or 4 X12= 7s 4 x2184,25= 2184,25x35-76,44,875 Int. at 6)131,05,5 " 180d's ~$150,802 2 Ans. 6pr.ct. 21,84,25" 4 30 d's By rule II. at 360 d's to a y'r. $152,89-75-~ Ans. $152,897-5- Ans. or 1 x12=72184,25 $152,897 54 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? 16844 x8 = 1347,52 1853, 9, 1 16844 x9- =1515,96 Int.at 6pr.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.atSpr.ct. 2021,28 whole Int. 1 x8= 12 x 16844 =2021,28 Int. 16844,00 Add princ'] 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 —. 144-21 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 $0,161. Then 6,90-. 0,16, 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. ct. is $0,24,5. Then 147,00 —0,24,5= $600. Ans. DI SC O UNT. 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 given 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 discount from the given sum, or amolnt. 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. Anl't " " "4 " cc " "'" $101,50. Then 6000 x 1,50= 9000,00 — 101,50= $88,66202. Ans. Ex. 2. What is the present worth of $1,675,50, due 2 years hence, discount at 9 pr. ct. 4 Int. on $100, for 2 y'rs, @ 9 pr. ct. is $18. 1675,50 x 18 = 30159,00 - 118 = 255,582 w- discount. Am't 1675,50 Less discount 255,5825$1419,91. Ans. 270 COMMERCIAL CALCULATIONS. BANK DISCOUNT. Bank discount, 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 takenfour 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. 1- of 64= 10 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 Am'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: 1140X 5-57,00+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 12pr. ct.!! For proof, see the following: Cost of goods $100 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 increased rapdly as the per centage is made larger. Cash price $117 Cash price $88 Gain 17 pr. ct. Loss 12 pr. ct. 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 11 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 x5=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 on Bills. 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 Am'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 on the articles sold (either on the whole amount, or pr. box, bale, y'd, $fc.), 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 =33 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 STIPULATED PER CENT. RULE. 1st. kMultiply the cost by the rate per cent., and in the product point of two decwmal 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 33~ pr. ct. advance, what do I gain? 5000 x 33-=$1666,662 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? 8 x20=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. stnnex 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 ain't of $800, which includes 10 pr. ct. on the prime cost, what was the prime cost? 800, annex two cyphers, 80000 —. 110== $7,27,273 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=$6,52Y-T pr. 100 lbs. Ans. EQTJATION OF PAYME]NTS. 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 diferent terms of credit, jultiply 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? Ain't. Time. Product. 1025) 4530 (4 12-~o 200 X 3 - 600 4100 4 mos. 13 d's. Ans. 360 x 4 = 1440 4 300 > 5 1500 30 165 x 6 - 990 $1025 4530 12900 1025 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 FoRWARDfrom 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. cc 24 - - - 500 - - - 2 " - - - March 24. Feb. 1 - - - 250 - - - 4 " - - - June 1. "' 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 (52 5 0 days. Then 53 days from March 24, is May 16. Ans. RULE III..Multiply each sum respectively by the time intervening between the date on which it Jalls 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 " " cc" 125,75 " " cc" 3 " Feb. 1 " " "cc 295,25 cc cc " cc 60 days. Mfar. 2 " " " 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 = 10206 April 2 - 295 x 94 = 27730 March 2 - - 325 x 125 = 40625 $1122 )78561 (70T- 2 l 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 time 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 accurmulate that amount of interest: the result will be the equated time, to be counted forward or backward, according to the dayfrom which you reckon. NOTrE..-To show that this produces the same answer as the preceding rules, we will take the three examples already 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 will usually be found sufficiently exact. 274 COMMERCIAL CALCULATIONS 1. Example given under Rule I. Amount. Months. Int. 0 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 = 4-t 9mos. 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. RErmaRKs.-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 nqw 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 contains both debits and credits becomes due. RULE I. First find by simple equation thle averaged time wJhen the DEBITS and CRED IS 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 afixed 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, - 60 d's. - Mar. 21, - 200 15, - 2 mos. - Apr. 15, - 450 Feb. 8, - 30 d's. - " 10, - 350 Mar. 2,- 1 - 1c 2, - 100 Mar. 4, -3 mos. - June 4, - 240 " 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'" 3, - 140 x 0 -= 000 Mar. 21, - 200 x 11= 2200 Apr. 15, - 450 x 43 = 19350 cc 10, - 350 x 00 0000 " 2, - 100 x 30 - 3000 June 4, - 240 x 86 = 20640 $940 22600 May 25, - 120 x 76 = 9120 940) 22600 (24,4 24 days from Mar. 3 is $1,410 88460 Mar. 27. 1410) 88460 (621, 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 $1,285J Total credits $1,080 Mode of operation. Due. Amount. Days. Int. n( 6 pr. ct. Due. Amount. Days. Int. a 6 pr. ct July 1, - 150 - 58- 1,45,0 May 8, - 150 - 00 - 000,0 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 31247 days. interest, it requires 4614 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=100 2,0; 100 days backward from June 5 give Feb. 25. Ans..Bal $-20.5 A2 276 COMMERCIAL CALCULATIONS. RULE II. JMultiply 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 onefrom the other, and divide their diference by the balance of the account, and you will have the time required for calculation. Then, if the balance of the account, and the diference 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 BACKWARD from the same date: the result will be the equated time for the payment of the balance. Thlis 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, - 250 X 1 = 250 July 1, - 500 X 120 - 60000 " 3, - 140 x 0 000 Mar. 21,-200 x 18 3600 Apr. 15, - 450 x 43 = 19350 " 10, - 350 x 7 = 2450 "c 2, - 100 x 30 = 3000 June 4, - 240 x 93 22320 $940 22600 May 25, - 120 x 83 9960 470) 75730 (161 6 $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. u 6 pr. ct. Due. Amount. Days. Int. X 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 675T- 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. BblaysDays. Prod. Bbls. Days. Prod. Jan. 22, Received 125 X 9 = 1125 Jan.22, 125 x 37= 4625 Feb. 1, 545 X 27=14715 cc31, Received1000 " 31,1000x28=28000 " 15,312x13= 4056 1125x1 =1125Feb18, 420x10= 4200' 25,258x 3= 774 Feb. 1, Delivered 545 1545 368 (28, 220 x 0= 000 580 x 14=8120 19545 1335 19545 " 15, Delivered 312 268 x 3= 804 30) 1728 "C 18, Received 420 576 688x — 7=4816 " 25, Delivered 258 According to the above statements there were received 1545 Bbls. from Jan. 22, to Feb. 28, and 430X 3- 1290 during the same time 1335 Bbls. were delivered, " 28, Delivered 220 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 working 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. 1 0 0 = 4, 44 44 1 0 = 0, 22, 22 15 0 3, 33, 33 9 -- 16 67 10 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 1ls. 5d.? 1st method. 2d method. 121 5,00000 1872 2:0111,41666 748 74880 1872,57083 22 sixpences= 1s. 40 9)74902 9) 74902,83320 8322,44,44 $8322,53- 702 Ans. 9,26 5d. $8322,53-~70 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., when the rate of exchange is 9 pr. ct. premium on sterling money? 12 10,000 879 2 0 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. $4261,61 —l7 Ans. $4261,61 73 Ans. 278 COMMERCIAL CALCULATIONS. II. To REDUCE FEDERAL TO ITS NOMINAL PAR VALUE IN STERLING MONEY. RULE. Miultiply by 9 (the sixpences in a dollar) and divide the product by 40, (the sixpences 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 X~1872,571 9 20 4Q0) 74902,8f6 s. 11,420 ~1872,571 12 d. 5,040 ~1872, ls. 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. marc banco, and of Hamburg on London 131 mares 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 I pr. ct. commission for procuring the bill on London. Direct to London. To London through Hamburg. 5000 ~ m.b.pr.~ 40 5000 x 13, =67500 mares banco 9) 200000 337,5 Com. pr. t. $22222,22,2 par. 67837,5 2222,22,2 prem. @ 10 pr. ct. Then m. b. cts. pr. m. b. $24444,44,4 67837,5 x 351= $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 - pr. ct. comrn. 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 com. at Havy. 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 am't of bill on Paris. 5,30 francs pr. dollar. 1142-3376'. Francs 20181,29 am't rec'd. via N. York. 1903895' 19702,97 " " direct. Francs 20181,2870 am't of bill on Paris. 478,32 Ans. OREIGaN COINS AND IONEYS OF ACCOUNT.@ Moneys of Account are those denominations of money in which accounts are kept, and sales and 1iurchases 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 article on Foreign Coins and MIoneys of Account, which I believe to be more fill and correct than any previous!v published in this country, I am indebted to W. Vogdes, Esq., Professor of Mathematics 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 farthlings. Prices of articles are also not unfrequently quoted in guineas. 4 farthings (qr)= 1 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)= 1 franc (f) The franc in silver is worth 18-2 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=l rix dollar current=711 cts. United States currency The old rix-dollar (silver)= 81.45 cts., that since 1840=71.4 cts. United States currency. ifanmburg. Accounts are kept in marcs, sols or schillings, and pfenings, currency or lubs, (meaning of " Lubeck.") 12 pfenings= 1 schilling, 16 schillings= 1 mare. The mare labs or currency, which is a silver coin, —-28~ 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 pence=1 schilling 20 schillings=1 pound 1 pound Flemish, banco-= 7 mares banco. 2 L 281 FOREIGN COINS AND MONEYS OF ACCOUNT. DENMARK. Accounts are kept in rix-dollars, rnarcs, and skillings. 16 skillings=-1 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. Amzounts 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 i)y 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=l 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, 31- 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 Jlorins and kreutzers. 60 kr. -1 florin. The florin (silver) is worth, in the currency of the United States, 483 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. SARbINIA. Accounts 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 denar? di pezza. 12 denari di pezza=1 soldo di pezza, 20 soldi di pezza=1 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, 53 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=1 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, ig uniformly at a discount. NAPLES. Accounts are kept in ducati and grani. 100 grani, or 10 carlini=1 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= — taro, 30 tari=1 oncia. 1 oncia=3 ducati of Naples, 1 taro=1 carlino of Naples. The oncia (gold)=$2.481 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=1 quinto, 16 quintos=1 rial of old plate. 10- rials of old plate =l silver dollar, or $1 United States currency. At Barcelona accounts are kept in libras, sueldos, dineros and mallas. 2 mallas=1 dinero, 12 dineros=1 sueldo, 20 sueldos=1 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 —_8 silver dollar, or 53~ 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 drachmn. 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=l1 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 1 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, sclillings, and slivers. 6 stivers=l schilling, 8 schillings=1 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=l anna, 16 annas-=1 Company's rupee. Value of the Company's rupee, (silver) in United States currency, 44- cts. Notation. 1,00,000 (100 thousand)=l lac, 1,00,00,00 (10 millions)=l crore. JAVA. Accounts are kept in florins and centimes, as in Holland. J.lanilla. Accounts are kept in dollars and vials 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. I tael=10 mace=100 candarines-1000 cash. The cash is the only money coined by the Chinese government, and is made of a mlxture 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=1 penny, 12 pence=1 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 dollal corresponds in value with the dollar of the United States. ST. DOMINGO. Accounts are kept in dollars and centirnes or hundredths. The dollar (silver)=about 33- cts. United States currency. In January 1845, $2.7E 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 II. 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 different times in the same province. At Rio Janeiro, in December 1844, Spanish dollars were worth 211040 rees. Monte Video. Accounts are kept in dollars currency, rials and centesimos. 100 centesimos=1 rial, 8 rials=1 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 THE 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 Mo22 94.8 idore of 1705 6.59 BRAZIL 22 carats 94.8 cts. No coin of this fineness. SPAIN 20 carats and Doubloon of 1810-24 $15.50 MEXICO 2 g and 89.9 cts.. " of Republic $15.55 COLOMBIA 3 grains of Bogota $15.61 Law of March 3, 1843. GREAT BRITAIN 9..5 94.6 cts.. Sovereign, of Victoria $4.86 FRANCE 899. 92.9 cts.. Napoleon, or 20 francs $3.85 SILVER COINS. Law of June 25, 1834. VALUE FINENESS. WEIGHT. REMARKS. OF EACH. Dollar of ntrinsic value of a dollar of CHILI 2 4 415 grs.. 100 cts. Chili, about 101 cts.; of CenCENT. AMERICA. tral America, about 100 cts. BRAZIL. Dollars restamped in Brazil, same as above. Law of March 3, 1843. Pillar dollar of SPAIN and dollar of 897 415 grThese dollars are generally MnddEXICO llr of 415 grs. 100 ets. worth rather more than the PERU [ J 415 grs.( 100 cts. value affixed. BOLIVIA J 5 Franc piece Tooo 384 grs. 93 cts. The value affixed is very Of FRANCE 384 grs. 9 3 cts. nearly the intrinsic worth. VALUE 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 = 68- c. Franc of France = 18- c. Milree of Portugal $1.12 Austrian Guilder = 48 c Rix-dollar of Bremen _ 78k 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 _ 90g- c. Rouble of Russia _ 75 c. Ducat of Naples = 80 c. Rupee of British India = 44- c. Rix-dollar of Prussia = 682-I c. Rial of Plate of Spain = 10 c. Ounce of Sicily = $2.46 286 TIME TABLE. No. 1. -,,-. -e. mJanuary. mFebruary. March. April. May. June. July. August. September. October. November. December. 1st month. 2d month. 3d month. 4th month. 5th month. 6th month. 7th mouth. 8th month. 9th month. 10th month. 11th month. 12th month. 1 1 1 32 1 60 1 91 1 121 1 152 1 182 1 213 1 244 1 274 1 305 1 335 2 2 2 33 2 612 92 2 122 2 153 2 183 2 214 2 245 2 275 2 306 2 336 3 3 3 34 3 62 3 93 3 123 3 154 3 184 3 215 3 246 3 276 3 307 3 337 4 4 4 35 4 63 4 94 4 124 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 6 6 37 6 65 6 96 6 126 6 157 6 187 6 218 6 249 6 279 6 310 6 340 7 7 7 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 9 9 40 9 68 9 99 9 129 9 160 9 190 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 00. 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 56 25 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 31 243 131 304 31 3651 To find the tine 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. N0. 2. 0; 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 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 despatch 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 month 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 which add one day, (the excess of 93 over 92,) and you have October 15th, answer. 288