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The Columbia University Libraries reserve the right to refuse to accept a copying order if, in its judgement, fulfillment of the order would involve violation of the copyright law. Author: nglis, W Title: Book-keeping by single entry Place: London Date: 1853 MASTER NEGATIVE # COLUMBIA UNIVEF^SITY LIBRARIES PRESERVATION DIVISION BIBLKJGRAPHIC rvllCROFORM TARGET ORIGINAL r/fATERIAL AS FILMED ^ EXISTING BIBLIOGRAPHIC RECOFni In4 L Inglin, \J . . . Book-keeping by single entry; v/ith an ap- endix oontaining explanations of morcantilG terns and transactions. By V/. Inglis, London, Chambers, 185 3 # 73, xxii p. forns. 17-?; on, (Ohamber *s educational course - ed, by V/. and R. Chanbers*) RESTRICTIONS ON USE: TECHNICAL MICROFORM DATA FILM ! 2>& MM- REDUCTION RATIO: I2£ IMAGE PLACEMENT: lA (HA, IB IIB DATE RLMED TRACKING ••? : 5|2^|^4- INITiALS; U.\J t^iU A/ 003 FILMED BY PRESERVATION RESOURCES, BETHLEHEM. 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I>e5*i!:i»ed to illus- trate Natural Philosophy, tVe., " ,( ■'■i with roller.^ and cloth ■ .iiu on the walls of Seliool- 'o.>! ; namely — 1. PnnHTties uf .. iie*!, i'. Mechanical Powers. — X Ilydri-.t;iti«.s.-4. Ilydraulies.— .'. Physiology, Plate" 1. — These Key to Adranced Latin Exercises. ...3 Phirdrus's Fables 1 Nepos 2 Casar J Quintus Curtius....' 8 "'••*"• *■•**••••••■•■••■••••••••■•••■»•••••*••••■••••• t*) XiUX diJi^ •••■•••••••••••••••••••••«■»•■••••••••■■•••••«$ Virgil. Ketp Edition, Vol. T. ; con- tiiining the Hucolits and First Six Books of the ./F-neid 3 6 Viru'il. New Edition, Vol. II. j con- taining the last Six Hooks of the Jl-hu'id, and Georgie.^' ; with a copious Index Komitium et l{erum...i fl I'iTy 4 Cicero 3 fl Latin and English Dictionary 9 Latin English Part. New Edition ^ 5 English-Latin Part 4 6 German. Eim ,a by Or Au»>. C t; .n ttie UigQ School I ' .;.. Fir.at German ReaduiL; Hook Second Germati Heading Hook German Granmiar, Elementary.. -T Advanced Phrdse-Uook, English-German Sb« ct.'i arc aeeonipanied with ■• --rams and Descriptive I>ooks, .3 ...3 ...2 ...3 ...2 .10 >•<• had Tan»i»h«-<1, at 2s. adtlitimial, ~!Sew, Treatise. Hy G. German and English Dictionan,- lo Gennan-Kmrlish P;irt ."i En-'li.sb-(Mrn):in Part ....H German Synonyms, Dictionary of. ...2 Music, Xl.l).. F.R.S.K. ...S I Manual of Mtisit *♦♦ Other Works in preparation.— .Wc/rcft ]85 CHAMBERS'S EDUCATIONAL COURSE^EDITED BY W. AND R. CHAMBERS. BOO K-KEE PING BY SINGLE ENTRY; WITH AN APPENDIX CONTAINING EXPLANATIONS OF MEECANTILE TEBMS AND TRANSACTIONS. BY W. INGLIS. "^-^x*^^ WILLIAM AND ROBERT CHAMBERS, LONDON AND EDINBURGH. 1853. i1».-'Jf» ■■'n.''. «,• . i «; aiyjnjEa-TR" *'''^^:, /'b i ^^^'^U/U.tt^ (/W^,^J Ruled Sets of Foolscap Paper Books adapted to this work may be had of the Publishers — namely, Single Entry, in two books, paper covers, price Is. 3d. Double Entry, in two books, » 1* Is. 3d. X^v BDtNBlTROH : PRINTED BY W. AXD R. CHAMBBRS. NOTICE. In the present Treatise, simplicity is the object chiefly aimed at, and all unnecessary technicalities in the phraseology and com- plexity in the system of keeping the accounts have been studiously avoided. The principles of Book-Keeping are exhibited, not by means of abstract rules, but by examples of the various transac- tions common in actual business. The work embraces Book-Keeping by "Single Entry" only. Another edition, containing both Single and Double Entry, is issued for the use of those who may require a more extensive knowledge of the subject. An Appendix, containing Explanations of Mercantile Terms and Transactions, is subjoined, which will serve in some measure as a guide to the Counting-room, W.I. Edinburgh, August 1849. ilflMtJUSUMtt s^ CONTENTS. Paoh Definitions, .----- 5 Day-Book, --•-.. 6 Invoice-Book, --.--- - 7 Cash-Book, -...-- 8 Bill-Book, - 10 Ledger, ------ 11 Single Entry, ------ - 12 Posting the Day-Book, Invoice-Book, Caali-Book, and Bill-Book, 12-17 Balancing the Ledger, - - - - 17 Taking Stock, -«-«-- - 18 Balance Sheet, - . - - • 19 Profit and Loss, ------ - 20 Private Account, - - - - - 21 Account for Goods Bought and Sold, - - - - 22 Books of John Adams, - - - - - 23-74 Day-Book. Stock-Book. Invoice-Boole Warehouse-Book. Cash-Book. Ledger. Bill-Book. Account-Book. Appendix — Mercantile Tenns and Transactions. BOOK-KEEPING. Book-Keeping la the art of recording and classifying a merchant's or tradesman's daily transactions, and of keeping an account of his property and debts. The property or capital of persons in business, may be comprised under the following heads : — I. Stock in trade, including goods, warehouses, machinery, ships, or whatever species of stock is employed in the business. II. Accounts, or debts owing to the merchant. IIL BUls, IV. Cash. n n A merchant's books ought to exhibit clearly the whole amount of his property, with the particulars of which it is composed ; and also the amount of his debts. The following are the most important of the books used in Book- Keeping : — Day-Book, for Goods sold on credit. Intoice-Book, „ Goods bought on credit. Cash-Book, Bill-Book, Ledger, Stock-Book, „ Cash received and paid. Discount received and allowed. „ Bills receivable and payable, to contain an abstract of the other books. contain an inventory of the stock on hand at the time of balancing the books. »♦ The following subsidiary books are also in general use : — AccouNT-BooK, to contain a list of accounts owing to, and owing by, the merchant Warehouse-Book, „ contain an account of the quantities of goods received, sent out, and on hand. Memorandum-Book, „ contain temporary memorandums. Letter-Book, „ contain copies of letters. Various other books are required, according to the nature of the business. ^™«'ffs^w,wrm'^3mwm^m 6 BOOK-KEEPING. DAY-BOOK. The purpose of the Day-Book is to keep a daily account of all goods sold on credit, that is, goods that are not paid for at the time of being bought. When a merchant sells goods on credit, before sending them away, he enters in his Day-Book the names and addresses of the persons to whom they are sold, with a description of the goods and their prices^ as shewn in the following examples : any other charges are entered in a similar way. The particulars of the entries are filled into the inner money columns ; the sums-total into the outer columns : — thus, If, on January 1, you sell to George Innes, Liverpool, 20 yards of black silk @ 3s. 6d. per yard, 12 yards of velvet @ lis., and 15 yards of hnen @ 2s. 6d'; and if,' besides, you wish to make a charge for packing and commission, The transaction will be entered in your Day-Book, as in the first of the following examples :— January 1, 1850. George Innes, Liverpool. Dr. To 20 Yards Black Silk @ 3/6 „ 12 „ Velvet „ 11/ 15 ,. Linen „ 2/6 Wrapper and packing Commission » » " Dr. To ■ U * contraction for " 0ebtor Ta." — 3rf.— Charles Chadwick, Manchester. To 40 Yards Welsh Flannel @ 1/10 When there ti only one turn In the entry, It U flUed at once into the outer columnt. —Ath.— William Wilson, London. To 4 Reams Royal Printing Paper.. @ 21/ „ I Edgeworth's Moral Tales — 6fA.— James Brown, Edinburgh. To 10 lbs. Sugar @ 6jd. M 2 „ Tea „ 4/6 James Watt, 60 George Street. To 1 Ream Small Post Paper 1 Box Steel Pens- Particulan. 3 6 1 »» 8. 10 12 17 3 12 d. 6 6 SuBU-TotaL £ 12 8. 15 d. 3 13 4 14 In the Dav-Book, instead of" Dr. To," which U the merrantilf phmiic in ftill, it ii enoBgh t« write 'Xo; " and In the luvoice^ooj^, iuitead «f ** Ct. B^," it ii «uough to «Tite " By.* BOOK-KEEPING. J INVOICE-BOOK. This book is used for keeping an account of all goods bought on credit. It is so called because the entries made in it are copied from the invoices (see Appendix) usually sent along with the goods. When the goods are bought, and have been received, the names and addresses of the persons from whom they are bought, with a description of the goods and their prices, are entered in the Invoice- Book, as below : any other charges are entered in the same way : — thus, If, on January 1, you receive from James Stewart & Co., Leeds, 180 yards of black cloth @ 13s. 7d., 80 yards of brown cloth @ 14s. 5d., 80 yards of olive cloth @ 14s. lOd., and 100 yards of black cloth @ 15s. 2d. ; and if a charge of 9s. 6d. is made for packing, &c, You make the entry in your Invoice-Book as in the first of the following examples, the entry being copied from the invoice which you have received from James Stewart & Co. Instead of copying the particulars of the invoices, it is often more convenient to copy the amount only, as shown in the entry of J. Miller, Jan. 20. The invoices are preserved for future reference, if necessary. They may be kept either in a book made for the purpose, or tied up in parcels, having the uame, date, and amount marked on each. January 1, 1850. James Stewart & Co., Leeds. O. By 9 Pieces Black Cloth, 180 yds.* @ 13/7 „ 14/5 Brown do. 80 >» M »> 14/10 15/2 4 „ Olive do. 80 „ 5 „ Black do. 100 Wrapper and packing * that U, 9 piece* meatuiing 180 yards, at ISs. 7d. a yard. " Or. By " ii a contraction for " Creditor By." — 2d.— Robert Gray, Bradford. By 3 Pieces Black Cloth, 150 yds.. @ 13/6 „ 2 „ Brown do. 90 „ „ 14/6 „ 5 „ Olive do. 125 „ „ 15/ — 20th. — "^ohn Miller, Edinburgh. By Goods, as per Invoice, January 19 In practice, instead of copying the particulars of the in- Toices, it in ofttn more convenient to enter the amount only, irith the date of the invoice. Particolan. £ 122 57 59 75 s. 5 13 6 16 9 d. 4 8 8 6 101 65 93 5 5 15 Snms-Total. 315 s. 11 260 33 15 Ii BOOK-KEEPING. CASH-BOO K. In the Cash-Book is kept an account of all cash received and paid, and of discount received and allowed. Two pages are always required for the entries ; the left-hand page for entering the cash you receive, and the discount allowed by you ; the right-hand page for the cash you pay, and the dis- count allowed to you. Each page is ruled with double money columns; the inner columns being used for the discount, the outer for the cash. When you receive payment of an account, enter on the received side Cash Received. 1850. Jan. 20 J. Adams — Cash at commencement.., This is the sum with which you com- menced business, James Brown, George Street Here James Brown settled his account, amounting to £4, 19s. 6d., by paying you £4, 159. Od.— 4s. 6d. having been allowed to him as discount. Union Bank. This sum was received by you from the Bank. Goods— Cash Sales This is an entry for goods which you have Bold for ready money. Billfi Receivable, No. 1, diicounted, £172, lis. This bill for £l72, lis. Od,, marked No. 1 in your Bill-Book under " Bills Receivable," was sent to the Bank to be discounted ; £172, 3s. 61 4 4 19 d. 6 Dr. Thomas Thomson, London. Cr. 1850. Feb. 28 To Bill due Mar. 31. £ 30 1850.1 Feb. 28 .Mar. 30 By Goods., „ do. ., £s. ,53 13 33J10 d. Dr. George Innes, Liverpool. Cr. 1850. Jan. Feb, Mar. To Goods. „ Do » Do ,, Cash „ Bill due May 2 £ s. d. 1850. 1 172 11 Jan. 1 5 67 3 9 Feb. 25 11 15 15 6 22 7 Mar, 1 3 100 7 20 377 16 9 By Bill due Feb, 4. ,, Cash ,, Discount ,, Goods. „ Do M Do £ 172 65 1 4 33 100 377 d. 9 The entries of goods on the Dr. side are posted from the Day- Book, and on the Cr. side from the Invoice-Book. The entries of cash and bills are posted from the Cash and Bill-Books. :*iw>*«ihSfe'".'r^;' SINGLE ENTRY. In Book-Keeping by Single Entry, each entry in the Day-Book, Invoice-Book, Cash-Book, and Bill-Book, is posted or entered once to some account in the Ledger ; hence the term '* Single Entry." In *' Double Entry," each entry is posted to two different accounts. Single Entry is used chiefly by retail dealers, as it is more simple, and occupies less time in posting than " Double Entry." POSTING THE DAY-BOOK. The posting of the Day-Book into the Ledger, is conducted in the following manner : — Write the name and address of the person first entered in the Day-Book, along the top of a page in the Ledger; then write below this, on the Dr. side, the date, the page of the Day-Book from which the entry is taken, and the amount* of goods to which he is Dr., using the words " To Goods;" next enter the person's name, and the page of the Ledger, into an Index to be kept of all the names that may be posted ; and finally, mark the page of the Ledger, on the margin of the Day-Book, opposite the entry, to show that the entry has been posted. The posting of the first entry being now finished, write, in another page of the Ledger, the name of the next person mentioned in the Day-Book, posting the entry as before; and so on with all the other entries in succession, each to the Dr. of the various accounts. When you come to another entry against a person whose name has been already filled into the ledger, write the second entry immediately below the first, using the words " To ditto," or * I" the LcdRcrof wholesale merchants the amown^ only of goods is posted: but in Retail LedRers it is more convenient to copy the particulars, except when they are numerous For an Example of an Account in a ItctaU Ledger see Appendix under '* Ledger." * ^ SINGLE ENTRY. Example. If the first entry in the Day-Book is— January 1, 1850. 13 George Innes, Liverpool. To 20 Yards Black Silk... „ 12 „ Velvet @ 3/6 M 11/ 3 10 612 d. 10 s. You write George Innes's name in a page of the Ledger and post the entry as follows: — ' George Innes, Liverpool. Dr. Cr. 1850. Jan. To Goods... • page of the Day. Book. £ 10 d. d. The figure 1, at the margin of the entry in the Day-Book, in- dicates the page in the Ledger to which it is supposed to be posted. POSTING THE INVOICE-BOOK. The Invoice-Book is posted in the same way as the Day-Book— each entry to its proper account in the Ledger. All the entries are posted to the Cr. of the different persons, using the words " By Goods." Thus, if the first entry in the In- voice-Book is — January 1, 1850. James Stewart & Co., Leeds. By 50 Yards Black Cloth @ 13/ M 20 „ Brown do £ s. d. £ s. 13/ 32 10 12/ 12 44 10 d. An account is opened under the name of " James Stewart & Co Leeds, and the entry is posted as follows :— Dr. Jabies Stewart & Co., Leeds. Cr. 1850 Jan. By Goods ... • page of the Invoice-Book. £ 44 s. 10 ' ^1 14 BOOK-KEEPING. POSTING THE CASH-BOOK. The entries, on the Received side of the Cash-Book, are posted to the C'r. of the persons from whom, or the transactions on account of which, the cash has been received ; and the entries, on the Paid Cash Received, 14 1850 Jan. 1 12 14 20 -1 14 J. Adams — Cash at commencement This is posted to the Or. of an account to be opened under your own name, uaing the words, " By Cash." James Brown, Georpe Street This entry for cash and discount is posted to the CV. of J. Brown's account, uaing the words, " By Cash £4, 158. od. „ Discount... 4s. 6d." Union Bank This entry is posted to the CV. of the Bank. Goods — Cash Sales The various entries for Cash Sales are, at the end of the month, noted on a piece of paper, and the amount posted to the Or. of an account to be opened under the head of *• Goods." See page 71. Bills Receivable.No.l, £172,1 Is. discounted This entry is not posted to any account : it requires, however, to be marked in the Bill -Book: see page 10. A mark / is made on the margin to show that this has been done. Discount. Discount s. Cash. £ 1000 110 15 d. 172 The discount columns are added up at the end of the month, and the amount deducted from the Or. of the account for " Goods." bee pages 22 and 71. 12 1289 6 SINGLE ENTRY. 15 side, to the Dr. of the persons to whom, or the transactions on account of which, the cash has been paid. The figures on the margin, indicate the pages in the Ledger to which the entries have been posted. Cash Paid. 12 13 1850 Jan. 12 14 10 14 J 20 30 14 Union Bank This entry is posted to the Dr. of the Bank, using the words, " To Cash." Trade Expenses — J. Smith's salary. Carriages Rent and Taxes... These and all similar entries for the expenses of the business, are, at the end of the inuiitli, noted on a piece of paper, and the amount posted to an account to b« opened under the head of " Trade Expenses," using the words, "To Cash — Rent, Salaries, 4c." See pa^ 68. Shop Furniture — J. Anderson's acct. This, and all similar payments, are posted to an account to be opened under the head of " Shop Furniture," using the words, " To Cash.v See page 67. John Adams This sum, received by j'ourself, is posted to the Dr. of your own account. John Miller, Edinburgh This entry for cash and discount is posted to the Dr. of John Miller, using the words, «' To Cash £32, 18s. 6d. „ Discount 17s. Od." Goods — Cash Purchases The various entries for Cash Purchases are, at the end of the month, noted on a piece of paper, and the amoupt posted to the Dr. of the accoimt for " Goods." Bills Payable, No. 1 This entry is not posted to any account : it requires, however, to be marked in the Bill -Book: see page 10. A mark / is made on the margin to show that this has been done. Cash on hand Discount. The discount columns are added up at the end of the month, and the amount deducted from the Dr. of the account for " Goods." See pages 22 and 70. Discount S. Cash. 017 990 3 33 107 17 15 32 10 7 10 100 18 15 1289 d. 6 6 I r I ;■ 16 BOOK-KEEriNG. POSTING THE BILL-BOOK. Bills Receivahle.—EAch. entry of Bills Receivable is posted to the Or. of the person from whom the bill has been received. Thus, if the first entry is — No. When Reed. 1850. Jan. 2, From whom Reed. O. Innes, Liverpool. Amount. £ 100 Date. 1850. Jan. 1. Term Imo. When Due. 1850. Feb. 4. Entered in Cash -Book 1850. Jan. 10. The entry is posted to the Cr. of George Innes, using the words, *' By Bill due Feb. 4, £100." The page of the Ledger to which the entry is posted is marked on the margin. Bills Payable, — Each entry of Bills Payable is posted to the Dr. of the person to whom the bill has been granted. Thus, if the first entry is — 8 No. When Accep. lOiO. Jan. 4. To whom Granted. J. Stewart &Co.,Leeda Amount. £ 300 s. d. 0, Date. 1850. Jan. 4. Term 1 mo. WTien Due. 1850. Feb. 7 Entered in Cash-Bk. 1850. Feb. 7. The entry is posted to the Dr. of J. Stewart & Co., using the words, " To Bill due Feb. 7, £300." Miscellaneous Rejiarks as to Posting. After all the books liave been posted, or at any stated conve- nient time, each entry in the Ledger should be compared with the original entry in the book from which it was taken, to ascertain that it has been posted correctly. When the page assigned to any account in the Ledger is filled up, add the money columns at the bottom, and transfer the sums to a new page, where the person's name must be written as before. If a person who is owing an account becomes insolvent, and pays a composition, enter in the Cash-Book the sum he pays, as a composition of so much a pound, and after posting it to his credit, carry the balance still due, to an account to be opened under the head of " Bad Debts." To this account are also transferred all other " bad debts" — that is, accounts of which you are unable to obtain payment from the parties. ' SINGLE ENTRY. 17 It is of little consequence in what order the accounts are posted into the Ledger ; for convenience, however, it is desirable to keep the Dr. accounts, being those posted from the Day-Book, in one portion of the Ledger, and the Cr. accounts, being those posted from the Invoice-Book, in another portion. When the Cr. accounts are numerous, they may be kept in a separate Ledger. In extensive concerns, it is usual to have several Ledgers, for the different branches of the business, such as a Town Ledger, a Coun- try Ledger, a Foreign Ledger, a Commission Ledger, &c. &c. BALANCING THE LEDGER. To ascertain, at the end of the year, or at any other time that may be most convenient, what is the sum-total of the various accounts owing by you, and owing to you, it is necessary to add up both sides of all the accounts in the Ledger, and to mark how much is the Dr. or Cr. balance of each. This is termed " Balancing the Ledger." When it is foimd that both sides of an account are equal, rule it off as settled. Accounts may also be ruled off" as settled, at any time when entries are made which equalise the two sides. Example. James Brown, 75 George Street. Dr. Cr. 1850, Jan. To Goods.. .. do. .. £|*. d. 1850. 1 310 Jan. 3 i> 1 9 419 6 6 >» By Cash ,, Discount. £ s. 1 4 15 »l 4 * 19 d. 6 When the Dr. side of an account is the greater of the two, enter the difference on the Cr. side, using the words, " By Balance for- ward," then rule off" the account as balanced, and enter below, on the Dr. side, the Dr. balance, using the words, " To Balance." Example. Alexander Paterson, London. Dr. Cr. 1850. .Jan. Feb. Mar, Mar. To Goods.... M do It do To Balance . £ s. d. 1850, 2 3 6 Jan. 20 6 65 2 10 1 9 2 12 Mar. 3' 71 10 67 14 10 By Cash ,, Discount. Balance forward irf. 14 10 10 B NTENTIONAL SECOND EXF 16 BOOK-KEEPING. No. When Reed. 1850. Jan. 2. From whom Reed. 0. Innes, Liverpool. Amount. 100 Date. 1850. Jan. 1. Term Imo. When Due. 1850. Feb. 4. Entered in Cash -Book 185a Jan. 10. The entry is posted to the Cr. of George Innes, using tlie words, *' By Bill due Feb. 4, £100." The page of the Ledger to which the entry is posted is marked on the margin. Bills Payable. — Each entry of Bills Payable is posted to the Dr. of the person to whom the bill has been granted. Thus, if the first entry is — 8 No. When Accep. law. Jan. 4. To whom Granted. J. Stewart & Co., Leeds Amount £ 300 s.d. 0, Date. 1850. Jan. 4. Term 1 mo. \Micn Due. 1850. Feb. 7. Entered in Ca«h-Bk. 1850. Feb. 7. The entry is posted to the Dr. of J. Stewart & Co., using the words, " To Bill due Teb. 7, £300." Miscellaneous Remarks as to Posting. After all the books have been posted, or at any stated conve- nient time, each entry in the Ledger should be compared with the original entry in the book from which it was taken, to ascertain that it has been posted correctly. When tlie p.ige assigned to any account in the Ledger is filled up, add the money colunms at the bottom, and transfer the sums to a new page, where the person's name must be written as before. If a person who is owing an account becomes insolvent, and pays a composition, enter in the Cash-Book the sum he pays, as a composition of so much a pound, and after posting it to his credit, carry the balance still due, to an account to be opened under the head of " Bad Debts." To this account are also transferred all other " bad debts" — that is, accounts of which you are unable to obtain payment from the parties. ^^^H^^^lf^ POSTING THE BILL-BOOK- Bills Receivable. — Each entry of Bills Receivable is posted to the Cr. of the person from whom the bill has been received. Thus, if the first entry is — r SINGLE ENTRY. 17 It is of little consequence in what order the accounts are posted into the Ledger ; for convenience, however, it is desirable to keep the Dr. accounts, being those posted from the Day-Book, in one portion of the Ledger, and the Cr. accounts, being those posted from the Invoice-Book, in another portion. When the Cr. accounts are numerous, they may be kept in a separate Ledger. In extensive concerns, it is usual to have several Ledgers, for the different branches of the business, such as a Town Ledger, a Coun- try Ledger, a Foreign Ledger, a Commission Ledger, &c. &c BALANCING THE LEDGER. To ascertain, at the end of the year, or at any other time that may be most convenient, what is the sum-total of the various accounts owing by you, and owing to you, it is necessary to add up both sides of all the accounts in the Ledger, and to mark how much is the Dr. or Cr. balance of each. This is termed " Balancing the Ledger." When it is found that both sides of an account are equal, rule it off as settled. Accounts may also be ruled off as settled, at any time wheu entries are made which equalise the two sides. Example. James Brown, 75 George Street. Dr. Cr. 1850. Jan. 1 To Goods.. 3 „ do. ., £ *. d. 1850. 1 3 10 Jan. 3 >> 1 _9 G >» 4 19 6 By Cash ,, Discount. £ s. 1 4 15 >l 4 ' 19 d. When the Dr. side of an account is the greater of the two, enter the clifferaice on the Cr. side, using the words, " By Balance for- ward," then rule off the account as balanced, and enter below, on the Dr. side, the Dr. balance, using the words, " To Balance." Example. Alexander Paterson, London. Dr. Cr. 1850. Jan. Feb. Mar, Mar. To Goods. „ do. . „ do. . 3 To Balance. £ s. d. 1}{50. 2 3 6 Jan. 20 6 65 2 10 1 9 2 12 Mar. 3 71 10 ,67 14 10 20[ By Cash Discount Balance forward £ $. d. 1 3 3 >l 67 3 14 10 71 10 — =: »»^^1MS|»pipF 18 BOOK-KEEPING. » When the Cr. side is the greater of the two, enter the difference on the Dr. side, using the words, " To Balance forward," then rule off the account as balanced, and enter below, on the Cr. side, the Cr. balance, using the words, " By Balance." Example. Thomas Thomson-, London. Dr. Cr. 1850. Feb. Mar. To Bill due Mar 31. ,, Balance forward 1850.1 Feb. 128 Mar. 10 Mar. 30 By Goods. ,, do. . By Balance , £ *. 4 53 13 5 33 10 87 3 57 3 When there are entries on only one side of an account, balance it oflt; by carrying forward the sum-total to the Dr. or Cr. of the next account, as the case may be ; or the account may be merely added up. In actual business, it is unnecessary to balance off unsettled accounts in the way now stated. It is sufficient to add up the columns, and mark the Dr. and Cr. balances in a temporary way M-ith a pencil ; ruling off the accounts only when they are actually settled. After the accounts have been balanced off, the various balances should be carefully examined, to ascertain that they have been correctly brought forward. It is common, in balancing, when there is a blank space on one side of the account, to draw a diagonal line across it, in the manner shown at page 69. TAKING STOCK. An Inventory of Stock in trade sliould be taken at least once a year, with the view of ascertaining the state of your affairs. All the particulars of the goods on hand, for sale, are copied into a book kept for the purpose, termed " The Stock-Book." The goods are valued at cost price, or, when necessary, at a per centage below cost price, to allow for bad stock, or depreciation in value. Stock of a more permanent nature — such as buildings, shop- furniture, &c. — does not require to be entered in the Stock-Book, as its value is ascertained from the accounts opened in the Ledger under these heads, and is from thence entered into the Balance Sheet. In such accounts, a yearly deduction of 5 or 10 per cent, requires to be made from the original cost, to allow for deteriora- tion, or tear and wear. See Shop Furniture, page 67. SINGLE ENTRY. 19 BALANCE SHEET. To ascertain the state of affairs at the end of the year, or at any other convenient time, it is necessary to draw out a "Balance Sheet" — that is, a statement showing how much is owing to you, and by you; also the amount of cash, bills, and stock on hand, and what is the balance, if any, in your favour. To do this, open an account in the Ledger, under the head of Balance Sheet, and make the following entries on the Dr. and Cr. sides : — On the Dr. side. The amount of accounts owing hy you, as ascertained from the Ledger, deducting the probable amount of discount that will be allowed at settlement. The bills owing hy you, as ascertained from your Bill-Book. On the Cr. side. The amount of goods on hand, as per inventory in Stock-Book. The value of shop furniture, as per Ledger. The amount of accounts owing to you, as per Ledger, deduct- ing the discount to be allowed at settlement. The amount of bills owing to you, as per Bill-Book. The amount of cash on hand, and in Bank. Then add up the two sides, and the difference between them will show the amount of your capital at the time of balancing. This sum is filled into the Dr. side, as " Balance, nett capital," and the account is ruled off as balanced. .^1 Example. Balance Sheet of John Adams. Dr. Cr. 1850.1 £ S. d. 1850. £ s. d. Dec. 31 To Accounts due by Dec. 31 By Goods on hand.. 410 J. Adams..£200 ,, Shop Furniture. 12 95 less discount 10 190 ,, Accounts due to J. Adams £300 „ Bills due by J. A. 160 less discount 15 28.'} ,, Balance, nctt cajjital 1150 ,, Bills dueto J.A. 200 The gums-total only of ,, Cash in Bank... 12 600 the Dr. and Or. accounts are entered in the Ba- lance Sheet: the parti- ,, Do. on hand, per Cash-Book 10 culars are Oiled into the " Account-Book," see p. 72. When the names are 1500 01 1500 numorous, thcv should — — :r = ■^=^ = = be wxitten in alphabeti- cal orde£ •:^£^mm£'^'- 20 BOOK-KEEPING. SINGLE ENTRY. 21 I PROFIT. To ascertain the profit, if any, that has been pained during the year, open an account under the head of " Profit," or " Profit and Loss," arid enter as follows : — On the Br. side. The amount of your capital at January 1, being the cash em- barked by you in the business, as ascertained from your account in the Ledger — or from the previous Balauce-Sheet. Interest at 5 per cent, on tlie amount of capital. The interest is charge» 15 » Gingham, 420 1/2 —3d.— James Brown, 75 George Street. To 1 Ream Small Post Paper , „ 1 Box Steel Pens Charles Chadwick, Manchester. To 10 Pieces Welsh Flannel, 480 yds. 1/10 „ 24 Pair Blankets 18 Carried over • For another form of the Day-Book, sec page 37. . £ s. d. £ s. 2 10 1 3 10 53 11 99 20 172 11 1 10 6 4 8 4 2 4 102 4 7 6 24 10 130 17 1 5 4 6 1 9 44 21 12 65 12 376 4 d. 8 * 96 DAY-BOOK. January 3, 1850. (2) Brought over. William Bell, Leeds. To 5 Pieces Silk Velvet, 160 yds. 11/6 „ 8 „ Linen Sheeting, 4 16 „ 3/2 —bth.— Thomas Bladworth, Hull. To 12 Pieces Irish Linen, 348 yds. 2/9 „ 5 „ German Lawn, 65 „ 3/3 George Innes, Liverpool. To 12 Pieces Gingham, 372 yds. 1/6 „ 10 „ Twilled Cotton, 420 „ 8^d. James Lindsay, Aberdeen. To 35 Pieces French Cambric, 450 yds. 6/6 „ 5 „ Mous. de Laine, 160 „ l/l — 7 4 „ do. do. „ 6 Pair Cotton Drawers 42/ 48/ 4/6 James Lindsay, Aberdeen. To 12 Cotton Umbrellas 5/6 „ 6 Silk Hats n/ do. Box. 14/ Charles Smith, Glasgow. To 12 Reams Wove Post 7/ ♦» 6 „ „ Foolscap 13/ William Hunter, Princes Street. To 2 Dozen Silver Table Spoons 20/ » 1 ,» „ Tea Spoons 7/6 George Innes, Liverpool To 1 Box Raisins, 54 lbs 8|d. „ 1 Chest Green Tea, 69 „ 6/6 Wharfage Carried over 15 11 6 14 3 12 9 1 12 12 7 3 3 4 4 18 24 4 10 1 22 18 8 1 3 6 6 29 23 11 11 2i 2 28 10 24 103 19 ^l 30 5 DAY-BOOK. February 6, 1850. Brought over Robert Cook, Liverpool. To 1 Gold Watch, Patent Lever „ 1 Silver „ do Alexander Paterson, London. To 6 Pieces Black Silk, 312 yards 3/6 „ 8 „ Gingham, 224 „ lid. Box ~\Uh.~- James Durham, Bristol. To 10 Pieces Sup. Black Cloth, 300 yds. 1 8/ „ 4 „ Welsh Flannel, 81 „ 2/3 Wrapper William Wilson, London. To Arnot's Physics, 2 vols, cloth „ Macaulay's Essays, 3 vols. , ~\2th.— Daniel Falconer, Dublin. To 6 Pair Lace Gloves 2/6 „ 10 „ Cotton Socks 1/3 „ 6 Yards Blue Silk Velvet 11/6 William Bell, Leeds. To 15 Pieces Scotch Cambric, 180 yds. 1/9 „ 3 „ French do. 90 „ 11/ —nth.— William Hunter, Princes Street. To 8 lbs. Cheese 8d. „ 1 Dozen Port Wine Carried forward (6) 103 19 15 15 0, 9 10 1 25 5 54 12 1 10 5 4 5 6 65 2 270 9 2 3 9 6 279 11 1 11 6 1 16 3 7 15 12 6 3 9 4 16 15 15 49 10 65 5 5 4 2 2 2 7 549 15 10 4 5 'I < i I (7) SINGLE ENTRY. February 17, 1850. 81 Brought forward. James Brown, George Street. To 3 lbs. Coffee 2/ „ 6 „ Loaf-Sugar 8^d. —\%th.— Charles Smith, Glasgow. To 12 Yards Black Silk Velvet 14/ „ 15 „ „ Satin 10/6 William Wilson, London. To 1 Silk Hat 5 —19^^.— James Watt, Birmingham. To 15 Yards Printed Cotton lOd. „ 4 „ Irish Linen 2/6 „ 2 „ Satin Ribbon 1/10 — 20<^.— John Alison, 5 Frederick Street. To 2 Pair Blankets 17/6 „ 10 Yards Superfine Black Cloth, 18/6 „ 5 „ Doeskin 5/6 Robert Hume, Carlisle. To 3 Pieces Gingham, 2 „ do. 90 yds. 1/1 j» »' 60 lid. Printed Cotton, 180 „ 1/3 — 22d— James Lindsay, Aberdeen. To 10 Silk Hats 11/6 6 do 15/6 » Carried over. 3 549 15 5 10 8 17 6 16 15 12 10 3 6 8 15 5 7 6 12 4 2 11 17 15 5 6 18 1: 15 13 10 610 4 32 DAY-BOOK. February 22, 1850. Brought over. 14 James Watt, Birmingham. To 2 Pieces Black Silk Velvet, 58 yds. 1 2/6 ~23(/.— Charles Smith, Glasgow. To 10 Pieces French Merino, 320 yds. 4/7 George Koss, Dublin. To 12 Pieces MusHn, 150 yards 1/5 —25th.— James Lindsay, Aberdeen. To 12 Yards Black Satin 5/6 « 15 „ „ Silk 3/9 Thomas Murray, Leeds. To 10 Pieces Cotton Shirting, 380 yds*. 8Ad. „ 5 „ Linen Sheeting, 248 „ 1/9 „ 6 „ Mous. de Laine, 182 „ 1/3 Wrapper Thomas Blad worth, Hull. To 1 Chest Black Tea, 85 lbs 3/9 — 28 ^ »» j> 14 Thomas Bladworth, Hull. To 1 Chest Black Tea, 85 lbs. 3/9 David Falconer, Dublin. To 20 Yards Welsh Flannel 1/10 „ 6 India Silk Handkerchiefs.... 4/6 Goods — Cr. hy Credit Sales. (8) 6 16 13 21 11 610 36 9 2 14 7 5 10 i 16 7 6 8 12 46 16 15 18 3 802 2 3 8 10 <0) SINGLE ENTRY. March 1, 1850. John Lawson, Bristol To 9 Pieces Printed Cotton, 270 yds. lid. „ 2 „ Twilled do. 84 „ 6^d. William Hunter, Princes Street. To 2 lbs. Coffee 1/10 „ 6 „ Sugar 6^d. James Cameron, Dundee. To 10 Yards Satin Ribbon 1/3 „ 6 „ French Cambric 6/6 — S *• 6 —24^.— Robert Hume, Carlisle. To 6 Pair Cotton Socks 1/3 „ 12 „ Worsted do 1/3 „ 12 Black Satin Stocks 4/7 8 David Mitchell, Liverpool. To 20 Pieces Cambric, 240 yards... 1/6 10/9 2/3 „ 12 Silk Hats „ 12 Yards Flannel Carried forward. (12) 26 7 3 10 12 18 6 1 15 486 8 160 14 i5 16 I717I 8 (13) 14 eiXGLE ENTRY. March 26, 1850. 1 , , ,„„ „ .,, , I , ,1 Brought forward Charles Davidson, Charlotte Street. To 6 Loaves Bread 7|d. „ 3 lbs. Coffee 2/ „ 4 „ Tea 4/6 „ 6 „ Sugar 64d. — 29^A.— George Ross, Dublin. To 5 Reams Printing Demy 16/6 „ 12 „ do. do 18/ —ZlsU— Charles Chadwick, Manchester. To 2 Pieces Doeskin, 38 yds. 4/9 „ 6 „ Sup. Black Cloth,! 22 „ 16/9 Allan and Bell, London. To Commission 10 Vo on Goods sold, £24, lOs. 37 3 fi 18 3 10 Goods — Cr. by Credit Sales. 9 102 16 717 11 6 3 6 111 84: 14 18 6 10 2 Iiote.—Thc following is the most convenient form of the Day-Book, when tlie breadth of the page will admit of its use. The word " To " at each entrj' may be left out. March 29, 1850. 6 George Ross, Dublin. 5 Reams Printing Demy 16/6 | 12 ,, do. do 18/ — 3Uf.— Charles Chad\viek, Manchester. 2 Pieces Doeskin, 38 yds. 4/9 6 „ vSup. Block Cloth, lii2 „ 16/9 4 10 2 16 6 14 18 1 1 9 102 3 6 6 i 111 4 n^^t-Nls*^ 8 8 9 9 8 9 INVOICE-BOOK.* Edinburgh^ January 1, 1850. 0) James Stewart & Co. Leeds. By 9 Pieces Sup. Black Cloth, 180 yds. 13/7 „ Brown do. 80 „ 14/5 „ Olive do. 80 „ 14/10 „ Black do. 100 „ 15/2 » Wrapper. Edward Johnston & Co., Manchester. By 26 Pieces Printed Cotton, 825 yds. 7d. M 2 „ do. do. 120 ,. 8d. 12 Twilled do. 504 Wrapper. Allan and Bell, London. By Goods, as per Invoice, December 30, 1849 The Invoice containing the particulars is sup- posed to have been received from Allan and Bell- As formerly mentioned, in actual busi- ness it is sufficient to enter the amount only of the invoices. —2d.— Robert Gray, Bradford. By 3 Pieces Sup. Black Cloth, 150 yds. 13/6 „ Brown do. 90 „ 14/6 »» Olive do. 125 15/ Edward Johnston & Co., Manchester By Goods, as per Invoice, Jan. 1 A. Jardine & Co., Leith. By Goods, as per Invoice, Jan. 2 , Carried forward • For another form of the IiiToice-Book, m* page 4X 122 57 59 75 24 4 14 5 13 6 16 9 1 14 2 315 11 101 65 93 42 17 5 5 15 10 260 70 10 25 10 72l| 3111 (2) SINGLE ENTRY. Januari/ 12, 1850. 39 BrouEfht forward 72] p, 11 Robertson and Simpson, Glasgow. e By 16 Pieces Scotch Cambric, 192 yds. 1/5 13 12 „ 3 „ French do. 90 „ 8/10 39 15 „ 11 „ do. do. 495 „ 6/6 160 17 6 214 4 6 —15^^.— John Ainslie and Sons, Liverpool. 10 By 2 Boxes Raisins, 108 lbs e^d. 2 18 6 „ 2 „ do. 112 „ 5d. —20th.— 2 6 8 5 5 2 John Miller, Edinburgh. By 24 Reams Wove Pott 5/6 6 12 lO „ 12 „ „ Foolscap 10/3 „ 12 „ Royal Crown 16/ „ 6 „ Printing Demy 12/8 „ 10 „ „ Royal 15/3 —2rith.— 6 9 3 7 3 12 16 12 6 33 15 6 James Dalton, London. lO By 6 Dozen Silver Table- Spoons .... 16/ „ 4 „ „ Tea do 6/ „ 4 „ „ Dessert do 11/ —3Ut.— Alexander Jardine & Co., Leith. By 4 Chests Congou — o A a E.F. 42 gross 99 lbs. tare 20 lbs. *i^ 43 98 24 Sili 44 100 19 o|i| 45 106 25 llll 403 88 deduct tare 88 57 14 26 12 8 8 98 8 8 nett315lbs 3/6 „ 4 Tierces Coffee— cwt. qrs. lbs. T. D. gross 23 lto4 tare 2 2 55 2 6 nett 20 2 £6 10 8 133 18 8 „ 2 Pipes Port Wine 65 130 « 2 „ do 68 136 455 1 18 2 14 Goods — Dj: to Credit Purchases 1527 9 40 lO 11 8 9 lO INTOICE-BOOK. Februmy 1, 1850. (3) Thomas Graham, Belfast. By 16 Pieces Irish Linen, 456 yards, 2/ « 6 „ do. 168 „ 1/9 .» 12 „ da 348 „ 2/2 Walter Kennedy, Paisley. By 6 Shawls 60/ Edward Johnston, Manchester. By 8 Pieces Gingham, 224 yards... 9d. „ do. 372 „ ... 1/2 „ do. 420 „ ... lid. 12 Dozen Pair Cotton Socks.... 13/ „ i^ „ 15 »» Robertson and Simpson, Glasgow. By 1 Piece Muslin, 20 yds. 1/2 Mous.deLaine,160 „ lod. 5 10 t* do. 320 lid. —10^^.— John Ainslie & Sons, Liverpool. By 6 Hhds Sugar— cwt. qrs. lbs. qrs. lbs. CD. 14 gross 14 2 tare 1 4 15 15 1 12 16 14 2 14 16 17 16 1 14 1 10 18 15 1 7 15 19 14 21 11 90 1 13 deduct tare 1 3 nett 88 2 42/ Wharfage Carried forward 45 12 14 37 14 14 8 21 19 7 1 6 14 8 14 5 16 185 13 13 17 6 98 18 57 3 22 10 186 381 3 10 W 9 8 9 8 11 14 SINGLE ENTRY. Febritary 10, 1850. Brought forward. Robert Gray, Bradford. By 2 Pieces Doeskin, 56 yards 5/ — 16?/j.— James Stewart & Co., Leeds. By 2 Pieces Black Cloth, 60 yds.... 15/6 „ 1 Piece Doeskin, 20 , 4/9 — ig^^i.— Edward Johnston & Co., Manchester. By 2 Piece8 Cotton Shirting, 76yds. 6id. 20 „ Black Silk, 996 „ 2/9 5 „ Black Silk Velvet, 160 „ 9/ Wrappers -Q Thomas Graham, Belfast. By 1 Piece Irish Linen, 28 yards.... 1/9 —20^^.— Allan and Bell, London. By 2 Russell's Modern Europe, 4 vols.... 37/6 „ 2 BjTon's Works, 1 vol. 8vo. cloth... 1 1/6 „ 12 Cowper's Poems, 18mo. cloth 1/6 „ 100 Edgeworth's aioral Tales, 12mo. cl. 3/6 Box 3/, wharfage 1/6 Edward Johnston & Co., Manchester. By Goods as per Invoice, Mar. 18th.. . —25^^.— Robertson and Simpson, Glasgow. By 12 Pieces Linen Sheeting, 624 yds. 2/6 — 28/A.— Thomas Thomson, London. By Goods as per Invoice, Feb. 26th. Goods — Dr. to Credit Purchases. 41 46 4 10 15 2 136 72 3 1 17 1 19 9 15 3 18 10 4 381 14 51 211 16 9 23 84 78 53 900 10 15 11 13 19 1 « 42 U U 12 U INVOICE-BOOK. March 1, 1850. George Brooks, London. By 20 rieces Black Silk, Satinett, >» «» 358 vds. 3/ 176 „ 2/9 4 „ Black Satin, 120 „ 7/6 3 Dozen Silk Handkerchiefs.... 36/ 4 » do. do 27/ 4 „ Satin Stocks 42/ Wrapper and packing , Alexander Hunter, Manchester. By 8PiecesMous.deLaine,248yds. 1/1 do. dvo. 78 „ 1/ Printed Cotton,! 76 „ 9d. Gingham, 360 „ lOd. Twilled Cotton, 156 „ 6^d 6 Dozen Pair Cotton Socks 12/ Wrappers 2 „ 6 „12 „ 4 5» — 4///.— Robert Todd, Glasgow. By 10 Pieces Cambric, 122 yds. 5d. 4 „ Mous. de Laine, 118 „ lid. 7 „ Cotton Shirting, 220 „ 7^d. >» — lO^A.— Thomas Thomson, London. By 2 Pieces French Merino, 6 1yds. 3/6 „ 4 „ Satin Kibbon, 84 „ 11 d. „ 54 Yards Satinett 3/3 „ 3 Dozen India Silk Handkerchiefs 33/ »» 2 „ do. do. 24/ do. do. 26/ Wrapper 3/6, wharfage 1/6. Carried forward 53 24 45 5 5 8 14 4 8 8 8 6 13 3 6 15 4 3 8 18 12 Oi 4] 12 2 10 8 17 10 2 6 10 3 8 4 2 2 13 17 15 19 8 12 5 (5) (C) 142 9 12 46 17 8 10 11 14 16 33 11 14 10 237|12 SINGLE ENTRY. March 15, 1850. 43 Brought forward. R. Gray, Bradford. By 4 Pieces Doeskin, 83 yds. 4/ „6 „ Sup. Black Cloth, 124 „ 13/ „ „ Brown do. 106 „ 14/3 »> — 19M.— Robert Todd, Glasgow. By 30 Yards Muslin 1/2 „ 24 „ Gingham lOd. „ 6 Pieces Twilled Cotton, 240 yds. 5id. „ 3 Dozen Satin Stocks 42/ John Ainslie & Sons, Liverpool. cwts. qrs. lbs. By 3 Tierces Coffee, gross 17 3 20 tare 2 14 nett 15 3 6@£7 Wharfage — 25/A.— Alexander Hunter, Manchester. By 12 Pieces Black Silk Velvet, 52 yds. 9/ „ 6 „ Crimson Velvet, 25 „ 10/ „ 36 Yards Gingham 1/1 —Z\st.— George Brooks, London. By 32 Yards Black Silk 2/9 „ 8 Silk Umbrellas 12/6 Wharfage Goods — Dr. to Credit Purchases 16 80 75 12 12 10 110 23 12 1 l.T 10 6 12 4 8 10 19 23; 172 12 14 14 110 37 583 11 17 Nok.—l'hQ following is tlie most convenient form of the Invoice-Book, when the breadth of the page will admit of its use. The Avoid " By " at eiich entry may be left out. March 31, 1850. 11 George Brooks, London. 32 Yards Black Silk 2/9 8 Silk Umbrellas l'2/6 Wharfage. 4 8 5 .0 I 6 9 9 44 CASH-BOOK. H) Citsh Received. 13 14 1 1L> 3 14 1 12 14 1 3 12 14 J 4 y 3 18:)0 Jan. 14 12 »» 14 17 20 >« »» 21 31 J. Adams, Cash at commencement Goods-Cwh Sale*, 10/ •/ 17/ 1^ *l it V«. This is a mode of entering small sums, whicli saves room, and may make it unnecessary to use a " Petty Cash- Book." James Brown, George Street Union Bank D. Falconer, Dublin Goods — Cash Sales R. Porteous, Bristol Union Bank Goods — Cash Sales James Brown, George Street Alexander Paterson, London Union Bank Goods — Cash Sales Bills Recelvtthle, No. 1, discountoii,* £172,111. William Wilson, London Bills Receivable, No. 3, diicount«d . Thomas Murray, Leeds • See note 6* to BUlf , page 48. niscount Discount Df^ucted from the Cr. of the " GooU»" acct. 12 12 Cash. 1000 3 5 4 15 110 15 2 2 ■» / 138 6 60 3 10 8 3 3 140 5 172 1 286 87 15 6 3 G 6 6 2033 12| 6 Balancing the Cash-Book.— To ascertain that the sums hare been entered correctly, the Cash-Book requires to be balanced at stated times as follows. Add up the cash columns, and note the cash on hand in the Cash-Book daily, to see that each day's trans- actions have been correctly entered: at the end of each month, instead of merely noting as before the cash on hand, extend the amount into the cash columns, on the paid side ; then add up the cash columns both on the received and paid sides, and if there has been no error in the entries, the sunis-total of the two sides will be equal to , each other, and the columns may be ruled off as settled or balanc^jJ. The cash on hand is carried forward to the received side to begin a new account next day. (See example of balancing the Cash-Book, Ai)pendix, p. xii., under the head of Cash-Book.) (2) SINGLE ENTRY. 45 Cash Paid, 1850 12 J an. 1 14 »' 13 3 13 >1 13 1» 8 5 13 9 12 13 13 14 17 13 20 12 )* 10 »> 12 •» y 21 13 27 13 >? 12 31 14 »» Union Bank Goods — Cash Purchases Trade Expenses — Salaries {orWage») In actual business, the names of the persons to whom salaries or wages are paid are entered in the Cash-Book : it is, however, unnecessary to do so here. An example is given, in the entry of .Jan, 27. "J. Smith's Salary," which applies to all such cases. Trade Expenses — Carriages „ „ Poor-rates Ed. Johnston & Co., Manchester Trade Expenses — Postage Stamps Robertson & Simpson, Glasgow.. Trade Expenses — Salaries Goods — Cash Purchases Trade Expenses — Salaries Shop Furniture, J. Anderson's aic John Miller, Edinburgh Union Bank Bills Payable No. 2 1 rade Expcnsci — J. SmitU'g lalary for 1 mouth John Adams Union Bank Cash on Hand I )iscoun t Deducted from the Dr. of the " Goods" acct. Discount. 5 10 13 14 Cash. 990 3 3 3 107 203 3 13 4 5 3 18 107 10 32 18 175 260 5 4 20 90 20 3 2033 12 0| 15: 10 o: 14 2 6 10! 6 6 6 Note.— In the Cash-Book employed in actual business, the dates are usually placed in the centre of each page, instead of on the margin, us above, the same dates being placed opposite each other on the Received and Paid sides- January 1, opposite January 1 ; January 2, opposite January 2 ; and so on. The dates have been jilaced on the margin, in the above and the following pages, merely to save room. For an example of the Cash-Book in the form used in business, see Api)endix, under the head of " Cash-Book." fl Petty Cash-Book. — Besides a Cash-Book, a " Petty Cash-Book" is often used, for entering the various small sums received and paid daily. (See Appendix.) 46 CASH-BOOE. (3) Cash Received. 1850 Feb. 1 Cash on hand Di-scount. Cash. 20 4 3 7 6 14 Goods — Cash Sales 6 1 ♦» William Hunter, Princes Street... 311 3 11 2 14 5 7 »> >• Thomas Blad worth. Hull 3 3 57 2 320 15 9 Goods — Cash Sales 12 Union Bank 4 James Taylor, High Street — Com- position of 10/ a £1 3 16 6 y »» Bills Receivable, No. 2, di«connted,« £51, Wk 4d. 9 4| 54 9 4 12 David Anderson, Glasgow 1 12 ( 5 31 4 17t 16 Union Bank 18 f 40 3 5 35 19 14 14 4 Goods — Cash Sales Robert Cook. liiveroool 6 1 25 George Innes, Liverpool 1 13 f ) 65 10 14 ♦> 28 Goods — Cash Sales 4 10 ( 2 ) 176 10 4 3 Charles Smith, Glasgow 14 Discount Vl 11 * *Bii,i.^— Tlio Bills Rccoivable filtered In tlie Cash-Book are »upi>osecl to be diKcountcil nt the Bank. B.lis are, however, often not iliscouiitwl, but paid away, loinrtiinefi Kt tlicir full value, to otiicr itiprcliants in ncttlf tncnt of tlioir accouat*. lu »uch cases the J- would be entered tbui— On the Received side — Bills Receivable, No. :.... M ]$ 4 On the Paid iid&- 3. Andemon, Hull, Blllj Receivable, No. '1 M 18 4 In business, the names an well as the X( s. of the Bills, are marked in the Cash-Book. Thus— BUls Receivable, No. I, G. Innes, IJverpool J72 \\ Bill. Payable, No. I, J. Stewart & Co. Leeds 315 n j 821 1 3 1 1 1 1 1 1 — - (4) SINGLE ENTRY. 47 Cash Paid. 14 13 12 13 13 13 J U 13 lO 13 14 12 13 13 13 13 9 14 1850 Feb 9 10 12 16 17 24 25 28 Goods — Cash Purchases Trade Expenses — Salaries Union Bank Trade Expenses — Shop Rent „ „ Carriages „ „ Police Tax Bills Payable, No. 1 Walter Kennedy, Paisley.; Trade Expenses — Salaries , James Dalton, London Trade Expenses — Washing Shop. Goods — Cash Purchases , Union Bank , Trade Expenses — Salaries , « ». do John Adams , Trade Expenses — Carriages , Alexander Jardine & Co. Leith .., Cash on hand Discount. Discount. 10 1.5 18 Cash. 1 3 70 35 1 315 17 3 93 5 40 4 4 20 190 13 15 14 8 10 11 11 12 9 3 1/ 10 12 t 11 6 2 2 6 2 6 9 3 8-21 13 48 CASH-BOOK. (5) (6) SINGLE ENTRY. 49 Cash Received. 1850 Mar. 14 6 2 14 y 2 12 14 4 6 14 8 12 7 y 14 6 14 » 6 7 8 10 15 jf 21 it 25 30 Cash on Hand Goods — Cash Sales WiUiam Hunter, Princes Street... Thomas Bladworth, Hull Goods— Cash Sales Bills Receivable, Na 4, divcoonted, £157, 17f. 4d. James Lindsay, Aberdeen Union Bank Goods — Cash Sales D. Anderson, Glasgow George Ross, Dublin Goods — Cash Sales Alex. Morrison, Greenock Union Bank Thomas Bennett, London Bills ReceiTable, No. 7, diseouoted, £02, ISt. Od. Goods — Cash Sales George Ross, Dublin Discount. Discount. 11 15 6 13 8 10 m 4 Cash. 13 3 29 15 5 156 26 20 3 55 10 4 8 150 19 92 3 14 633 11 17 13 3 3 11 18 17 2 12 15 9 4 10 11 3 6 6 6 6 3 4 10 Cash Paid. 14 13 13 U 13 13 U 12 13 14 J 13 13 14 12 13 13 9 1850 Mar. 14 6 7 ♦> 10 15 17 21 22 30 31 Goods — Cash Purchases Trade Expenses— Carriages „ „ Salaries Alex. Hunter, Manchester John Adams Trade Expenses — Freight from London George Brooks, London Union Bank Trade Expenses— Postage Stamps Goods — Cash Purchases Bills Payable, No. 3 Trade Expenses— Salaries Gas Goods — Cash Purchases Union Bank Trade Expenses— Salaries John Adams Bills Payable, No. 6 Allan and Bell, London Cash on hand Discount. Discount. 8 Cash. 12 4 45 40 135 58 m I 150 4 1 3 80 4 10 30 22 22 17 4 3 14 12 5 4 10 4 15 8 2 1 18 6 9 6 4 6 7 6 6 4 4 633 10 I 50 BILL-BOOK. (1) ^eV/s No When " receivcc [ From whom Received. Amount. Date . Term When Due. Entered in Cash-Bk. 1850. 1850, 1850. 1850. 1 1 Jan. 2 G. Innes, Liverpool. 172 11 Jan. I 1 mo. Feb. 4 t Jan. 20 2 2 „ 12 J. Lindsay, Aberdeen. 54 18 4 „ lo|3 „ April K 1 Feb. 7 2 3 „ 18 C. Chadwick, Manchester. 288 17 6 „ i; !2 „ Mar. 20 Jan. 21 2 4 „ 31 W. Bell, Leeds. 157 17 4 „ 2( > 3 „ April 29 Mar. 3 2 5 Feb. 10 J. Lindsay, Aberdeen. 100 Feb. 5 1 '6 „ Aug. 10 6 6 „ 16 J. Durham, Bristol. 100 „ 1^ i4 „ June 17 2 7 „ 19 W. Bell, Leeds. 92 15 .. „ 2 „ April 17 Mar. 21 6 8 „ 25 J. Durham, Bristol. 50 „ 22 3 „ May 25 3 9 Mar. 1 T. Murray, Leeds. 46 16 2 „ 28 2 „ May 1 3 10 ,. 4 C. Smith, Glasgow. 89 12 2 Mar. 3 3 „ June 6 5 11 » 19 J. Watt, Birmingham. 37 11 2 „ 18 2 „ May 21 6 12 „ 20 J. Lawson, Bristol. 54 3 3 M » 2 „ May 21 i 7 13 „ 25 W. Edmonds, Newcastle. 44 14 4 „ 24 1 „ April 27 •3 3 8 14 M 27 D. Mitchell, LiverpooL 90 17 8 „ 26 3 „ 1 s c o a S J! June 29 a; 1 is §5 ^n g s C-3 i ^ .si ^1 c " o a js a sa 6 6 aa o a a P4 ll fi) SINGLE ENTRY. 61 I Receivable, By whom Drawn. J. Adams. J, Lindsay. On whom Drawn. G. limes. W. Gray. To whom Payable. J. Adams. J. Lindsay. Where Payable. es :« n in Liverpool. Aberdeen. These columns are used in business for entering the particulars shown in the above examples : it is unncccssiuy here, however, to fill up the other blanks. '^ ^^ ,^ ^ < 20 % 13 29 17 27 29 10 t These columns are used for ascertaining readily the dates when the bills are due. 62 BILL-BOOK. (a) Bills 8 9 XO 8 8 U 9 8 10 12 lO 9 No. Granted 1 2 S 4 5 6 7 8 9 10 11 12 1850. Jan. 4 „ 8 Feb. 12 „ 22 „ 27 „ 28 »> » Mar. 2 „ 5 t> 19 „ 24 „ 30 •Or, accepted To whom Granted.* J. Stewart & Ck>.,LcedA. R. Gray, Bradford. Ainslie & Sons, Liverpool Johnston & Co. Manchest. Stewart & Co., Leeds. T. Thonison, London. A. Jardine &Co.,Leith. Johnston & Co. Manchest T. Graham, Belfast. R. Todd, Glasgow. Ainslie & Sons, Liverpool R. Gray, Bradford, • Or, By whom Drawn. Amount. 315 260 150 200 51 SO 100 153 100 29 100 186 Date. 1850, Jan. 4 8 Term, Feb.l2 „ 22 » 27 „ 28 i> f* Mar. 2 »> „ 19 ,, 24 M 80 1 mo. 10 da. 1 mo. >i ■3 ,3 II •- • XI a e a |5 S I at S When Due. 1850. Feb. 7 Jan. 21 Entered in Cash-Bk. 1850. Feb. 7 Jan. 21 Mar. 15 Mar. 15 May 25 Aus. 30 Mar. 31 May 1 May 5 April 8 June 22 May 27 May 3 Mar. 81 (4) SINGLE ENTRY. 53 Payable. To whom Fayable. Where Payable. i~i '^ ^ <, t^ <-i f-i •*(, "Xi O Stewart & Co. J. Brown. Union Bank, Edinburgh. Do. do. S i o 21 These columns are used in business for entering the particulars shown in the above examples : it is unnecessary here, however, to fill up the other blanks. 15 31 25 22 80 These columns are used for ascertaininpr readily the dates when the bills are "due. WAREHOUSE-BOOK. This book is used for keeping an account of the quantities of goods received into, or sent out from the warehouse. It is suitable chiefly in those cases where goods are bought and sold in considerable quan- tities at a time. By means of the Warehouse-Book, the quantity sold and on hand of any description of goods can be ascertained at once, on turning up the page where the account is kept. It is necessary to have an Index of the different accounts entered. The mode of keeping the book varies according to the nature of the business. In the following specimen is shown a method adapted to ordinary cases. The two accounts below are for the Sugar and Tea entered in the Invoice-Book as received from J. Ainslie & Son, and A. Jardine & Co., and whicli appear in the preceding Day-Book as sold to the various parties mentioned. The quantities are supposed to be entered on the Dr. side, as below, at the time of being received ; and on the Cr. side when they are sold. Sugar. 1850 10 1 To Eeceived from— J. AlnsUe & Son, Lirerpool.... To On hand Hhdi. 1850 Mar. 4 12 31 BySoldtoW. Edmond» M M J. Cameron „ On hand, forw.ord Day-Bi page. Hhda. Feb. 6 9 12 1 4 1 6 6 Apr. 1 Tea. 1850 31 To Received from— A. Jardine ft Co., Lelth CbesU. 1850 Feb. Mar. 25 15 By Sold to T. BUdworth fi ji J. Milne. Day-Bk page. Chetts. Jan. 4 8 11 1 3 4 4 The Stuck-JUook, lee page 73, to be written out here, next to the Warehouie '-Book. L E D G E E. INDEX. Anderson, D Glasgow 4 Alison, John Frederick St. 5 Allan & Bell London 9 Ainslie & Sons Liverpool.... 10 Adams, John 13 Brown, James George St... 1 Beil, William Leeds 2 Bladworth, T Hull 2 Bennett, Thomas London 7 Brooks, George London 11 Bad Debts 13 Balance Sheet 14 Chadwick, C Manchester. 2 Cook, Robert Liverpool.... 4 Cameron, James Dundee 6 Durham, James Bristol 5 Davidson, Charles... Charlotte St. 7 Dalton, James London 10 Edmonds, William... Newcastle... 7 Falconer, David Dublin 3 Goods 14 Gray, Robert Bradford 9 Graham, Thomas. ...Belfast 10 Hunter, W Princes St. 1,5 Hume, Robert Carlisle 6 Hunter, Alex Manchester.il Innes, George Liverpool.... 1 Johnston, E., & Co...Manchester. 8 Jardine & Co Leith 9 Kennedy, Walter Paisley 11 Lindsay, James Aberdeen.... 2 Lawson, John Bristol 6 Murray, Thos Leeds 3 Milne, James London 7 Morrison, Alex Greenock ... 8 Mitchell, David Liverpool.... 8 Miller, John Edinburgh... 10 Porteous, R Bristol 1 Paterson, Alex London 3 Profit 13 Ross, George Dublin 6 Robertson &Simpson Glasgow 9 Smith, Charles Glasgow 3 Stewart, J., & Co Leeds 8 Shop Furniture 12 Taylor, James High St 4 Thomson, T London 11 Todd, Robert Glasgow 12 Trade Expenses 13 Union Bank 12 Wilson, William London 4 Watt, James Birmingham 5 56 LEDGER. 0) James Brown, 75 George Street. 1850. Jan. Feb. Mar. 1 3 II 17 To Goods. „ do.... „ do.... „ do.... 31 To Balance t s. 10 9 8 10 5 18 d. 6 II 3 10 1850 Jan. Mar. 17 31 By Cash „ Discount.. „ Cash „ Discount. „ Balance* * or. Balance forwiird. s. 15 4 8 10 18 d. 6 6 5 3 8 George Inn ES, Liverpool. 1850. 1850. Jan. 1 To Goods 1 172 11 Jan. 2 By Bill due H „ do 2 42 15 6 Feb. 4.... 1 172 11 Feb. 6 ,t do 5 24 8 3 Feb. 25 M Cash 3 65 10 Mar. 14 » do 11 15 15 Mar. 31 „ Discount.. „ Balance... » I 15 13 15 9 255 9 9 255 9 9 Mar. 31 To Balance... 15 15 William Hunter, Princes Street. 1850. Jan. Feb. 2 27 6 To Goods » do M do to page 5 carriedtop.5,MthU timce U flUed up. 1 4 5 2 1 28 32 4 10 10 4 8 3 II 1850. Feb. 1 By Cash „ Discount.. to page 5 3 3 11 3 11 3 14 11 Richard Porteous, Bristol. 1850. Jan. Mar. 2 II 3 31 To Goods » do ,. do To Balance... 1 3 9 130 14 19 164 17 14 3 14 6 2 3 11 1850. Jan. Mar. 12 31 By Cash „ Discount.. „ Balance... 1 138 t 19 164 6 5 3 14 8 3 U Mar. 19 3 3 tin bmlneif. It i« unnccpssary to hslance off un««tled account! In this way. It l* .ufflcipn* merely to add up the column., marking the Dr. or Cr. balance! in a temporary way with a ucnHL aud ruluig oil the accounts ouljr when tliey are actually lettlcd. e j t ".»u ■ |n,ucu. (2) SINGLE ENTRY. Charles Chadwick, Manchester. 67 1850. Jan. Mar. 3 To Goods 10 „ do 31 „ do 31 To Balance.... 1 3 13 65 223 111 400 12 5 4 1 6 6 1850. Jan, Mar. 18 31 By Bill due Mar. 20.. „ Balance... 1 288 III 17 4 6 400 1 6 Mar. HI 4 William Bell, Leeds. 1850, Jan. Feb. 3 7 25 12 To Goods f 9 UlO« •• • • • i> do » do 157 2d 2 65 250 17 4 6 5 12 1850. Jan. Feb. 31 19 By Bill due April 29. „ Bill due April 17 157 92 250 17 15 12 4 4 Thomas Bladworth, Hull. 1850. 1850. Jan. 5 To Goods 2 58 8 3 Feb. 5 By Cash 3 57 15 27 „ do. ...... 4 2 7 >» „ Discount.. 9» 3 3 Feb. 25 » do 8 15 18 9 ^lar. I „ Cash „ Discount.. 5 15 3 15 9 76 14 76 14 James Lindsay, Aberdeen. 1850. Jan. 6 Feb. 5 22 25 »» To Goods*.... » do «* do M do „ do. Jan 6, luiderposted 1850. 2 144 18 4 Jan. 12 5 11 2 m 10 8 Feb. 10 8 6 2 3 Mar. 6 10 »» 182 10 By Bill due April 13. 1 54 18 „ Bill due Aug. 10.. •> 100 „ Cash 5 26 18 „ Discount.. M 13 182 10 6 9 • Potted incorrectly, to fbow the mode of rectiiyinK the error. See entry, Feb. 25. 68 LEDGER. Alexander Paterson, London. (3) 1850. Jan. Feb. Mar. / 9 3 31 To Goods „ do », do To Balance... 2 6 9 3 65 2 6 2 12 10 10 1850. Jan. 20 By Cash „ Discount.. „ Balance... 1 »> 3 67 71 3 3 14 10 71 10 Mar. 67 14 10 David Falconer, Dublin. 1850. Jan. Feb. / 1 12 28 31 To Goods „ do * .) do >, do To Balance... 2 5 6 8 15 13 4 3 Art 16 3 3 6 8 5 1850. Jan. Mar. t 31 f9 By Cash If Goods, Feb. 1, OTcrpojted.. „ Balance... 1 15 10 11 36 2 2 5 36 2 5 ]Mar. 11 5 • Ported IncoiTBcUy, to thow the mode of rcctHying the error. See entry on Cr. fide. Thomas Murray, Leeds. 1850. Jan. 10 20 Feb. 25 !Mar. 1 To Goods ,. do » do » do * 46 45 46 139 3 4 4 2 11 1650. Jan. Mar. 31 1 By Cash & disc. „ Bill due May 1 ... „ Goods — potted in error, carried to W. Huntei'i acct. 92 46 16 139 * Ported incorrectly, to iliow Uie mode of rectify inp the error. See entry on Cr. fide. 3 8 2 11 Charles Smith, Glasgow. 1850. 1850. 1 t 1 1 Jan. 18 To Goods 3 172 12 6 Feb. 28 By Cash 3 176 4 I'eb. 5 do 5 8 2 »» „ Discount. II 4 10 6 18 ,. do 7 16 5 6 Mar. 4 ,, Bill due 23 » do 8 73 6 8 8 June 6... 1 89 270 12 6 2 270 6 8 (4) SINGLE ENTRY. "William Wilson, London. 1850. Jan. Feb. 18 11 18 To Goods „ do , » do W. 'Wiljon having become insolvent, is alilc to pay only B part of his UiC- Tlic balance if car- ried to tliea/c" for " Bad Debts." 2 7 15 IS.'JO. Jan. Mar. 21 31 By Cash I, Balance, carried to Bad DcbU, page 13..... James Taylor, High Street. 1850. Jan. 20 31 To Goods. do. . 1850. 4 2 5 Feb. 7 4 5 8 5» 7 13 By Cash ,1 Balance, carried to Bad Debts, page 13 David Anderson, Glasgow. 1850. Jan. 20 Feb. 5 Mar. 6 To Goods „ do. „ do. 1850. 4 9 5 6 Feb. 12 5 23 11 9* 9 56 10 9 3 Mar. 7 5> 89 7 By Cash „ Discount.. „ Cash „ Discount.. Robert Cook, Liverpool. 1850, Jan. Feb. 25 6 To Goods. „ do. . 1850. 4 11 8 Feb. 16 6 25 5 »» 36 13 By Cash „ Discount.. 59 16 16 13 3 31 4 »» 1 12 5 55 2 »> 1 8 89 4 6 6 3 35;14 18 36 13 6 6 Ill i W If I, 60 LEDGER. James Durham, Bristol. (5) 18G0. IS 50. Feb. 1 To Goods 5 5 6 Feb. 16 By Bill due 11 i» do 6 279 11 9 June 17. 1 100 Liar. 17 » do 11 30 10 3 25 „ Bill due May 25. »> 50 31 To Balance... Mar. 31 „ Balance... 165 8 315 8 315 8 Mar. 165 8 William Hunter, Princes Street. 1850. Feb. Mar. 1 from page 1 To Goods M do 1850. 32 4 11 6 2 .? / 4 Mar. 1 9 C 11 j» 34 19 2 from page 1 By Cash „ Discount., 3 14 5 29 13 n 1 11 34 19 James Watt, Birmingham. 1850, Feb. 19 22 To Goods, do. .. >» 1850. 7 1 6 2 8 36 5 Mar. 19 37 11 2 By Bill due May 21, John Alison, Frederick Street 1850, Feb. Mar. Mar. 20 12 31 To Goods. „ do. . To Amount forward. 7 10 12 3 7 9 6 1850. Mar. 31 15 16 6 15 16 6 By Amount forward. 11 3 37 11 15 16 (6) SINGLE ENTRY". Robert Hume, Carlisle. 1850. Feb. Mar. Mar. 20 18 24 31 To Goods „ do. „ do. To Amount forward. 1850. 7 18 17 6 11 6 12 4 2 6 Mar. 31 29 29 By Amount forward. George Ross, Dublin. 1850. Feb. l^Iar. 23 29 To Goods, do. . 8 13 10 14 25 12 18 11 1850. Mar. 8 30 By Cash, do. »» Discount. John Lawson, Bristol. 1850. Mar. 1 12 To Goods. »> do. 9 10 14 39 1850. 13 Mar. 20 10 3 3 3 By Bill due May 21. 1 James Cameron, Dundee. 1850. Mar. Mar. 2 7 10 22 31 To Goods, do. . do. . do. . » ii To Amount forward. 9 10 »» 12 2 3 75 160 241 24] 11 I 2 1850. Mar. 31 By Amount forward. 61 29 5 10 12 SJ 14 11 JJ 7 25 11 6 6 54 54 3 3 241 k»' m 62 LKDGER. William Edmonds, Newcastle. (7) 1850 Mar. 4 23 To Goods. „ do. . 1850. 9 41 4 Mar. 25 12 3 14 44 14 4 By Bill due April 27 Thomas Bennett, London. 1850, Mar. To Goods. 10 19 19 10 10 1850, Mar. 21 By Cash „ Discount.. Charles Davidson, Charlotte Street. 1850. Mar. Mar. 9 26 31 To Goods. „ do. . To Amount forward. 10 13 1 5 11 1850. Mar. 31 1 16 1 16 By Amount forward. James Milne, London. 1850. Mar. Mar. 10 15 23 To Goods >, do. „ do. 10 11 12 31 To Amount forward. 32 50 37 119 13 10 2 119 13 1850, Mar. 31 By Amount forward. 44 44 4 4 19 19 10 10 16 119 13 (8) SINGLE ENTRY. Alexander Morrison, Greenock. 63 1850, Mar. 14 To Goods. 18.50. 11 8 13 3 Mar. 15 8 13 3 By Cash „ Discount. 13 3 David Mitchell, Liverpool. 1850. Mar. 17 24 To Goods ., do 11 12 65 25 90 1 16 17 8 8 1850. Mar. 27 By Bill due June 29.. 1 90 17 8 90 17 8 Jabies Stewart & Co., Leeds. 1850 Jau. Feb. 4 27 To Bill due Feb. 7... „ Bill due Aug. 30. 3 315 51 366 11 5 16 2 2 1850. Jan. Feb. 1 16 By Goods. „ do. . 315 51 366 11 5 16 2 Edward Johnston & Co., Manchester. 1850. Jan. Feb. Mar. 5 22 o To Cash „ Discount. „ Bill due May 5.. „ Bill due May 25, 1850. 2 107 14 Jan. 1 ?» 5 13 9 Feb. 2 4 3 200 19 20 n 153 8 466 16 4 By Goods. „ do. . „ do. . „ do. ., do. .. 42 70 57 211 84 466 17 10 3 9 15 9 8 U 16 4 64 LEDGER. Allan & Bell. London. (9) 1850 Mar. 31 To Goods on hand.... „ Commission „Ca8h 13 6 5 2 22 30 10 9 1 1850. Jan. Feb. Apr. 1 20 1 By Goods. „ do. . By Goods on baud... 6;i0 23 10 30 6 Robert Gray, Bradford. 1850. 1850. — — Jan. 8 To Bill due Jan. 2 By Goods 1 260 5 Jan. 21. 3 260 5 Feb. 10 ,, do 4 14 Mar. 30 „ Bill due Mar. 15 „ do 6 172 14 6 May 3.. »» 186 446 14 19 6 6 446 19 6 Alex. Jardine & Co., Leith. 1850. 18.50. -r= Feb. 28 To Cash 4 190 Jan. 2 By Goods 1 25 10 ft „ Discount... »» 10 31 „ do 2 455 1 2 •( „ Bill due May 1... 3 100 Mar. 31 „ Balance 180 11 2 Mar. 31 By Balance... 480 11 480 11 2 2 180 11 2 Robertson & Simpson, Glasgow. 1850. Jan. JMar. 12 31 To Cash „ Discount.., „ Balance... 203 10 100 314 10 14 10 14 1850, Jan. Feb. Mar. 12 4 25 31 By Goods. „ do. . do. . >» By Balance.. 214 22 78 314 100 4 10 14 10 6 6 (10) SINGLE ENTRY. John Ainslie & Sons, Liverpool. 65 1850. Feb. Mar. 12 To Bill due Mar. 15.. „ do. May 27. Balance 24 31 » 150 100 52 302 0' 5 2 5 2 1850. Jan. Feb. Mar. Mar. 15 10 19 31 By Goods „ do. , „ do. By Balance... John Miller, Edinburgh. 1850. Jan. 20 To Cash. Discount... 32 33 18 17 15 1850. Jan. 20 Bv Goods., James Dalton, London. 1850. Feb. 12lTo Cash , Discount... 93 4 98 8 1850. Jan. 25 By Goods. Thomas Graham, Belfast. 1850. Mar. To Bill due April 8... 100 100 1850, Feb. 19 By Goods. do . £ 5 186 110 302 52 5 3 17 2 2 33 33 15 15 98 98 3 4 98 2 100 Ml. % 66 LEDGER. (11) Walter Kennedy, Paisley. 1850. Feb. To Cash „ Discount.. 17 18 1850, Feb. 1 By Goods 18 18 Thomas Thomson, London. 1850 Feb. Mar. 28 31 To Bill due March 31 „ Balance... 30 57 8: 1850. Feb. Mar. MVLT. 28 10 31 By Goods. „ do. . By Balance... 53 13 33 10 57 George Brooks, London. 1850. Mar. To Cash „ Discount. „ Balance.. 135 7 9 151 i: 1850. Mar :Mar. 31 31 By Goods. » do. ... By Balance... 142 9 151 9 17 9 6 6 6 Alexander Hunter, Manchester. 18.50 Mar. 1 31 To Cash „ Discount.. „ Balance... 45 1 37 84 14 3 17 14 1850, :Mar. Mar. 25 By Goods. „ do. . 31 By Balance.., 46 84 17| 8 14 37 17 8 (12) SINGLE ENTRY. Robert Todd, Glasgow. 67 1850. Mar. 19 To Bill due June 22. 3 29 29 1850.1 Mar. 4 19 By Goods.... do » 14 14 29 16 11 Union Bank. 1850. Jan. 1 20 31 Feb. 5 16 Mar. •• 21 Mar. 31 To Cash „ do. „ do. „ do. „ do. „ do. „ do. To Balance. Interest, when BlloMcd, rcfiiiirfg to 1)0 charged to the Bank. 990 175 90 70 40 58 80 1503 663 1850. Jan. Feb. Mar. 5 12 20 7 12 6 15 31 By Cash » do „ do » do » do „ do » do „ Balance Instead of post- infr each entry separately, as above, it vi-ill be found convenient in practice merely to note on apiece of paper the en- tries durine each montli. and post only their iums- totoL 110 60 140 320 40 20 150 663 1503 Shop Furniture. » 6 1850. Jan. 20 31 To Cash This is the sum paid out for furniture. T) Balance. 2 107 10 10 2 6 1850. Mar. 31 By Depreciation 5 ^ ocnt. carried to Trade Ex])cnses, l)age 13. „ Balance. . i 5 102 i 2 10 6 6 107 107 Mar. 102 llll 68 LEDGER. Bad Debts. (13) 1850. Feb. Mar. 31 J. Taylor's a/c — balance... W. Wilson's fl/c — balance. 16 2 19 6 6 Trade 1850, Jan. Feb. Mar. 31 28 31 To Cash ,, (io » do „ Shop-Furniture — Depreciation RenUtTaxei 3 36 10 39 10 Salaries. 15 1 6 16 9 12 10 Sundrie*. 10 19 1 2 16 8 44 61 4 5 9 2 4 6 12 18 53 15 93 11 18 6 6 1 8 The accounts for Trade Expenses and Bad Debts are in Single Entry merely added up, without being balanced by an entry on the opposite side: they may, PROFIT (OR, Profit and Loss). 1850. Jan. Mar. 1 31 To Capital at this date, (see J. A.'s a/c, Jan. i) . ... „ Intere'it, January to March, carried to J. A.'s a/c . »» .t^roE . „ , „ „ . . 13 1000 »♦ 12 10 »i 294 1306 10 10 10 By adding to the vdt proflt the amount of Trade Expenses and Bad Debts, the grots profit is ascertained , ab on other side. JOHN ADAMS. 1850. Jan. Feb. Mar. 25 3 30 31 To Cash » do », do » do „ Balance forward. NotP.— The Dr. and Cr. •'"''-" ' <" t!ie account • "' ■■ • '--ped on the Kanie piiffc in tin _' part of i r, a» ii U'linl in tncrchants' 1.^ , m Itie un .\e, oiid '' toUow, tlio Ut. and Cr. sides are )>Iaced on » : ^^I'n, to allow mure space for makiug the cutriei 20 20 40 10 1216 l.'^Of. 10 10 10 10 (13) single entry. Bad Debts. 69 Mar. 31 By Amount, loss — carried to Goods O/C. 19 Expenses. 1850, Mar. 31 In this account \* shown the manner of entering some of the particulars of tlie Trade Kxpenses, wiiich may be done more or less minutely, ac- cording to circumstances. The sum-total of each month is the amount of the entries in tlie Ca«h-Book for Trade Expenses, the particulars being noted on a piixe of paper and entered as on other side. Care must be taken to »ee taat the amount of the particulars agrees with the sum- totaL By Amount, loss — carried to Goods ajc. 93 3 9 however, be balanced off, as above, if the account for " Goods " (page 70) is adopted. PROFIT (OR, Profit and Loss). 1850, Mar. 31 By Capital at this date, (see Balance Sheet). „ Cash to J. Adams, January to March 14 13 1216 90 1306 10 10 10 10 Nett Profit, as above Trade Expenses, as per Ledger. Bad Debts, do. Gross Profit .£204 10 ... 93 .3 9 .. .. 7 19 ...£395 3 7 JOHN ADAMS. 1850. Jan. Mar. Mar. 1 31 31 By Cash „ Interest, Jan. to Mar., brought from Profit a/c- „ Profit „ „ „ By Balance This corresponds with the amount of Capital, as per Balance Sheet. 1 13 1000 12 10 294 1306 10 1216'10 10 10 10 70 LEDGER. BALANCE SHEET. (14) Dr. John Adams. 1850 Mar. 31 To Accounts owing by J. A., as per Ledger... Tbli i« the ium-total: the particulart are entered In th« " Account^Book." See v»ge "~ „ Bills owing by J. A., as per Bill-Book „ Balance — Nett Capitax. 415 18 921 4 1337 2 1216 10 13 2553 7 7 10 5 (^Bought. ^ Goods. 1850 Jan Feb. Mar 31 28 31 To Purchases do. do. »» j> Credit.* 1527 18 3 900 19 1 583 1 2 Cash.f 8 7 12 23 16 4 TotaL 1.535 18 3 908 11 1 606 17 6 301118 6 39 8 4 3051 6 10 40 18 11 Deduct DUcountt 17 5 3 15 7 6 8 6 2 Deduct Discount on unsettled a/cU. due by J. Adams. See " Accouut-Book," p. 72. „ Trade Expenses „ Bad Debts !!!.!!!!!!!! „ Profit (including interest) IMrectioni for keeping chli accoaDt are gireo at papc 22. 1518 13 893 3 598 11 3010 21 17 10 2988 93 3 7 19 306 10 3396 3 = : 7 4 11 10 1 9 10 8 * These are the monthly sums-total of the Invoice- Book. t These are the monthly sums-total of the entries for "* Cash Purchases " In the Cash-Book : the particuhirs being noted on a piece of paper, and the amount then filled m here. X These are the monthly sums-total of the Di^rount columns on the raid side of the Cash-Book, and are deducted from the amount of Goods, to «how the nctt sum- In making up a new account, say at December 31, the discount on un.settled accounts, now deducted on eacli side, must be allowed for, as follows -—If the discount on unsettled accounts, on eitlier side, at December 31 is greater than at present, say £45, lOs. Od. instead of £39, 18s. Id., the difi'crcnce (14) SINGLE ENTRY. BALANCE SHEET. John Adams. 71 Cr. 1850. Mar. 31 By Goods on band, as per Stock-Book „ Shop Furniture „ Accounts owing to J. A., as per Ledger... This is the tuni-total : the particulara are entered in the " Account-Book." See page '2. „ Bills owing to J. A., as per Bill-Book „ Cash in Bank „ Casii on baud, as per Cash-Book 393 13 12 102 2 15 495 758 4 613 14 12 663 22 18 13 2553 2 6 8 8 9 4 c xOODS. {Sold.) 1850 31 28 31 By Sales „ do >. do. Credit* Cash.t TotaL 1387 9 1 815 15 10 868 12 11 Deduct Discount.} 1372 803 861 2 / 8 18 18 13 10 Jan. Feb. Mar 1372 9 7 802 10 4 847 10 2 14 19 6 13 5 6 21 2 9 15 6 3 12 8 9 7 4 9 10 1 2 3022 10 1 49 7 9 3071 17 10 ■34 19 9 3036 39 1 Deduct Disco „ Goods on I „ do. imt on unsettled a/cts. due to J. Adams See "Account-Book," p. 72. land 1 2997 393 5 2 6 do. on Commission •... Tlie Goods on Commis»ion n-quire to bo piitorori here, as they are included along with tlic Credit I'uiclia&cs on the other tide. The Goods on hand requ?rp to be carried forward to the Dr. side, to begin 3396 8 a new account on " A}>ru 1. * These arc the monthly sums-total of tlie Day-T5ook. ■f The.se are the monthly sums-total of the entries for " Caph Sales " in the Cash- Book : the particulars being noted on a piece of paper, and tlie amount then filled in hero. X Tliese are the monthly sums total of the Discount columns on the Hecdved side of the Cash-Book, and are deducted from the amount of Goods, to show the nelt sum. only between the two sums — viz. £5, lis. lid. — not the sum itself, must be deducted from the " Goods " account. If, on the other hand, the dis- count is less at December 31, instead of deducting tlie discount, the dif- ference between the two sums must be added to the " Goods " account. 72 ACCOUNT-BOOK. Accounts owing hy J. Adams, March 31, 1850. Jardine & Co , Kobertson & Simpson, Ghisgow Ainslie & Son, Liverpool T. Thomson, London G. Brooks, Ix^ndon A. Hunter, Manchester 10 Hi »» »» Deduct 5 % for Discount at settlement The Account-Book contains a list of all the Accounts owinjf to .and by J. Adams, a.s ascertained from the various Accounts in the Ledger. 180 100 52 57 9 37 11 10 5 3 9 17 437 21 415 15 17 18 10 10 Accounts owing to J, Adams, March 31, 1850. James Brown, George Street... G. Innes, Liverpool R. Porteous, Bristol C. Chad wick, Manchester A. Paterson, London D. Falconer, Duhlin J. Durham, Bristol J. Alison, Frederick Street K. Hume, Carlisle J. Cameron, Dundee C. Davidson, Charlotte Street. J. Milne, London^ Deduct 5 % for Discount at settlement When any of the Accounts are paid, the sums are entered in the outer money columns here loft blank : it can tlius be seen at a glance what accounts are settled. 15 19 111 67 11 165 15 29 241 1 119 798 39 758 10 15 3 4 14 8 16 1 16 13 2 18 3 3 10 5 6 6 STOCK-BOOK. 73 Goods on hand, March 31, 1850. 4 Pieces Superfine Black Cloth, 80 yds 13/7 2 „ „ Brown do. 40 „ 14/5 6 „ Printed Cotton, 180 „ 7d. 5 „ Scotch Cambric, 60 „ 1/5 1 „ Irish Linen, 28 „ 2/ 3 „ Gineham, 90 , 9d. 3 „ Welsh Flannel, 60 „ 1/6 20 Yards Muslin 1/2 20 „ Black Silk 2/9 4 Silk Umbrellas 12/6 10 Reams Printing Demy Paper 12/8 2 Com stock's Natural Philosophy 3/6 3 Gibbon's Rome, 5 vols. 8vo 42/ 1 Chest Congou Tea, 80 lbs 3/6 1 Tierce Coffee, 5 cwt 130/8 1 Pipe Port Wine 2 Hhds. Sugar, 28 cwt 42/ Sundries (in a real inventory all the particular* are given.) 54 28 5 4 2 3 4 1 2 2 6 6 14 6 16 5 5 16 7 10 3 15 10 6 7 6 32 13 65! 5816 100 9 39313 Goods on Commission from Allan ^ Bell, London, on hand March 31, 1850. Sundries. These goods, all the particulars of which would be given in a real inventory, are not entered along with John Adams' own goods, as they belong to Allan & Bell, the parties who sent them on sale. The Stock-Book to be written out next to the Warehouse-Book, page 54. 8 8 6 0. 4 8 4 10 6 I APPENDIX. / SPECIMENS OF ACCOUNTS, EXPLANATIONS OP MERCANTILE TERMS, TRANSACTIONS, &C. Abbreviations.— Tlie following contractions are in common use : — A/c, ajc. Account, Cr. Creditor. Dr. Debtor. Ditto, do. The same. E. E. Errors excepted. I. O. U. I owe you. Ins* The present month. Prox* The next month. Ulto ® The last month. Days after date. Days after sight. Months after date. per cent. at. per. ' i Account.— A statement showing the amount due by one person to another for goods, cash, &c. Accounts are kept under their sevenU titles in the Ledger, from wliich they are copied when required. Examples. Account copied from a Wholesale Ledger. Mr George Knight, Birminglmm. To Hamilton «& Boyd, London. 1850. Mar. 4 11 26 30 Goods... do. ... do. ... By Cash. 278 7 1917 66411 962 16 298i 4 66411 7 8 3 7 8 In rendering this account, it is unnecessary to give the particulars of the entries. When the goods were forwarded, invoices, containing the particuhirs, were either sent along with the goods, or separately by post ; and in making out the account, only the dates and sums require to be stated. Tlie above is copied from Hamilton & Boyd's Ledger, page 132. r n k APPENDIX. ACCO I' yj— continued. Account copied from a lietail Ledger. Mr John Alison, Frederick Street, 1850. Feb. Mar. To Jonx Adams, Edinhurqh 20 12 2 Pair Blankets 10 Yards Super 5 „ Docsk 6 lbs. Green Tea. 1 *r/iJ 10 Yards Superfine Blackaoth!.'.'.".*.'.'.'*.*.*".'."*" \m o .. Doeskin "5/6 6/6 8 „ Black do 4/ 6 „ Loaf Sugar. .•"................*........... 8d. 15 5 7 1113 15 12 4 16 6 ^ In copying this account, all the particulars require to be eiven as no nvojce or account of these was sent wlien tlieVods were^lt This the sums toHlof'^'^'T''' V^^^'J^ ^'"^^^ ^^- The^Ledger confats onU rlnVtrttX-Bool^ '' ''" ''"^'^^''^^ "^ "^^^^^"^^ ^^ -^-■ is I4iuTn :ut in this "^ '-^^^^^ *° "^ ''^' '^ J^^- ^'--^ 't ]VIr John Alison, Frederick Street. To John Adams, Edinburgh. When wages or salaries are not paid in ftdl to the parties at statpd hmes, but by partial paj-ments at iie^lar times, the sunus are en ered in tlie Cash-Book not under the head of Trade Expenses but under the names of the different persons who receive the salaries ' life sums James Brown. 1850. Jan. |l4:To Cash. Mar. 31 M do. 5 7 12 11850. Mar. 31 By Salarj% carried to Salary a/c 12 Account — continued. APPENDIX. A. Smith. ui 1850. Jan. Feb. Mar. 19 14 31 To Cask. ,- do. . Balance forward... 1850. 2 4 4 6 5 Mar. 311 15 Mar. 31 By Salary, carried to Salary a/c By Balance. 8 15 1 5 A. Smith's salary amounts to £15 ; but as he has drawn only £10, the balance of £3 is carried forward to the Cr. of his accoimt. Salaries. 1850. Mar. 31 To J. Brown's Salary „ A. Smith's Salary 7 9 12 15 1850. Mar. 31 By Amount 27 carried to l"rade Expenees 10 27 " Accounts are kept in the Ledger not only for indi^^dua]s, but also for the various branches of a merchant's property. The details of such accounts vary according to the nature of the case, but the following will serve as specimens : — Warehouse Buildings. 1850. Jan. 1 To Cash . 1 1000 1850. The warehouse is supposed to liave cost £1000. This sum is entered in the Cash-Book when paid, and posted from thence to an account to be opened in the Ledger under whatever title will best describe the property. If the building becomes deteriorated in value from any cause, an entry requires to be made similar to that in the account for Macliinery given in next page. Interest 5 per cent, on the value requires to be charged to the " Trade Expenses," or to whatever department of the business it be- longs, also any payments for repairs, &c. ir Account — continued. APPENDIX. Printing Machinert. 1H50 Jan 1 To Cash. 1851 Jan. 1 I I To Balance. 1000 1000 950 1R50) I Dec. 31 ByT car* Wear 5 ^ cent, carried to Printing- Oflice ale Balance forward 8 60 950 1000 The macliincr)- is supposed to cost £1000, and to undergo a yearly deterioration of 5 per cent, off the cost price. This deterioration '(£50) 18 carried every year to the Dr. of the Print ing-OHice account, reducina the value of the machinery by this sum annually. Printing-Office. 1850J I — Dec. 31 To Intrrcst on Machlnriy, 8 \ „ Tejuv^Wearofdo. — from ♦* Machinery" a/e The Printing-office requires to be charged yearly ys\\.\\ the interest on the value of the machiuer>', and with the tear and wear. Account Current.— An account in which is drav\Ti out in Br. and Cr. columns, a statement of the transactions that have taken place bctwe« n t vo parties diu-ing a certain time. Example. Dr. J. Black, Edinburgh, in account with T. Smith, London. Cr. Mar. 30 To Balance... 91 17 By Goods w do »» do « do „ Balance — forward. TIili li the balance due by Jolin Klack to Tliotuat bmitii. 24 30 12 40 91 3 2 7 8 6 17 199 6 2 3 8 9 APPENDIX. T Account- Sales. — An account drawn out by a commission agent, showing the sales he has made of goods on account of another party. It contains a statement of the quantities sold, and the prices, also the charges for freight, commission, &c. Example. Account-Sales of 50 hhds. Sugar, per " Tlie Jane," consigned by James Cameron, Demerara. 185^! Jan. Mar. Jan. Mar. 30 6 Hhds. J. C. 1 to 6, (@ 72d*yi.) cwt. qr. lbs. cwt qr. lb*. ewt. qr. lbs. gross 98 2 27, tare 7 2 24, nett 91 3, @ 46/ 8 16 Hhds. J, C. 7 to 22, (@ 26 days.) gross 245 IG, tare 17 1 12, nett 227 3 4, @ 42/ 26 29 1 31 20 Hilda. J. C. 23 to 42, (@ l month.) gross 311 1 0, tare 26 1 20, nett 284 3 8, @ 46/8 8 Hhds. J. C. 43 to 50, (@ 1 month.) gross 131 1 9, tare 11 1 17, nett 119 3 20, @ 44/4 CHARGES. cwt. qr. lbs. Duty on 723 2 7... .£506 9 10 Freight 177 15 Shore dues, &c 2 3 4 Cooperage, porterage, &c 8 15 Interest on cash paid for duty, freight, &c. 11 11 8 Commission 5 % on Sales (£1421, 3s. 5d.) 71 1 2 Besides the above, there are generally charges for rent, insurance, Ac Nett proceeds, due April 20, E. E. London^ Hamilton & Botd. 212 278 664 265 1421 11 16 777 16 643 7 11 8 10 5 The above is taken from the account in the Ledger under Supar, page 140 : the amounts only are given in the Ledger, but the particulars of the entries will be found in the Day-Book and Cash-Book at the dates marked. A book termed an " Account Sales-Book " is generally used for entering sales of goods on com- mission such as the above. The proceeds are stated to be due on April 20, being the supposed average of the various dates at which the sugar is payable. The letters E. E. mean " Eirora Excepted." Adventure. — A term applied to shipments of goods to or from some particular place. Thus if a merchant sliipped a quantity of goods to Calcutta, the shipment might be termed " Adventure to Calcutta," and under tliis title an account would be kept in the Ledger of the proceeds and expenses, showing how much was gained or lost. VI APPENDIX. APPENDIX. TJl Affidavit.— An oatli or declaration as to the truth of a fact. In cases of banlvniptcy, or wljcn a debtor dies, persons ou lodging their claims or accounts require to send their affidavits along with them. Thus— ENGLISH FORM. In tlie Matter of Edward Lindsay^ Silk Mercer, 139 Strand, London^ a Bankrupt. John Doufilas of the city of London, SiUc Mercsr, maketh oath and saith that the said Edward Lindsay, Silk Mercer^ in 139 Strand, London, tlie person against whom a Fiat in Bankruptcy hatli been late awarded and issued, and is now in prosecution, was at and before tlie date and issuing forth of the said Fiat, and still i* justly and truly indebted to this Deponent (or if there is a partner, ow=: .>c; .XT Edinburgh, January 1, 1850. Jan. 1, 1850. ><■%>< To the Treasurer of the Bank of Scotland. C.Bruce. ^-:!2.;< Pay to Mr George Bruce, - - - or Bearer, XtuX " " - - ?5*^::!;S One hundred pounds ------- Sterling. £100. >;:2x £100. * xxx x?ndon^ Silk Mercer^ maketh oath and saith that the said Edward Lindsay, Silk Mercer, in 13S Strand, London the person against whom a Fiat in Bankruptcy hath been late awarded and issued, and is now in prosecution, was at and before the date and issuing forth of the said Fiat, and still is justly and truly indebted to this Deponent (or if there is a pjuiner, and to his jxirtner in trade, James Hamilton,) in the Sum of one humlrtd and twenty pounds, for goods sold and delivered by this deponent {and his said partner), in tJie months of Att- pust and Sepfeviber 1849, for which said sum or any part thereof, he this deponent, hatli not (nor hath his said partner), nor any other person or persons by this deponent's order, or for his (or their) use to this Depo- nent's knowledge or belief, had or received any security or satisfaction whatsoever. ^^;^„ Douglas. /Sworn at London in the County of Middlesex, ) tliis sijrth day of January, one thousand eight J hundred hudjify. \ Before me, Thomas Stnith, a Master Extraordinary in Cliancery. SCOTCH FORM. At Edinburgh, the tenth day of January, Eigliteen Hundred and fifty, in presence of James Anderson, Esq., one of Her Majesty's Justices of the Peace for the city of Edinburgh, compeared John Adams (or if there are partners, John Adams of tlie firm of John and Thomas Adams), who being solemnly sworn and interrogated. Depones, Tliat, Georac JJrown, Draper, 12 (.'eorgc Street, Edinburgh, is justly indebted and resting owing to the Deponent (or, to tlie company of which Dcjx/nent is a partner) the sum of tivenfy pounds ten shillings, being tlie Amount of the annejred account. Depones that no i»art of said sum has been paid or compen- sated ; nor does the Deponent (or his said partner) hold any other Person than the said (,'eorge Brotcn bound for the Debt, or any secu- rity for the same. All wliich is trutli, as the Deponent sliall answer to God. John Adams. James Anderson, J. P. The affidavit is usupJly a printed form filled up with writing. The words in Italics are those commonly written. Assets.— A term used to denote the property of every description belonging to an individual. Average.— In sliipping, general average is the term applied to the contribution levied on the value of a ship and its cargo generally, when part of the sails, masts, &c. of the ship, or part of tlie cargo, has been sacrificed in a storm in order to save the rest. The loss sustained is distributed amongst the owners of the ship and tlie various owners of the cargo, in proportion to their respective interests, and is termed general average: this risk is covered by the ordinary insurance poli- cies. Particular average is tlie term applied to partial damage aftecting the ship alone, or part of the goods alone, and not involving the general safety of the ship or cargo. Such partial or particular risks are not usually covered by the insurance policies, except when the loss sus- tained exceeds a certain per centage, or unless the sliip be stranded, sunk, or burned — in these cases, partial damage to goods, &c. is recover- able from the underwTiters. Bankruptcy. — "Wlien a person becomes unable to pay his debts, he is said to be insolvent ; and when his insolvency is legally announced, or gazetted, lie is termed a Bankrupt. By the process of bankruptcy in the law of England, termed Fiat in Bankruptcy (similar to that of Sequestration in the law of Scotland), if the creditors to a certain amount concur in petitioning for ajiat, the causes of the insolvency are investigated ; and if there has been no fraud, the individual is relieved from all previous obligations, on giving up his entire property. It is only persons in trade that are entitled to the benefit of this process of bankruptcy, all others being excluded. In the event of persons not in trade becoming insolvent, they must submit to the ordinary laws respecting debtors. The persons to whom the realisation, manage- ment, and distribution of the estate of a bankrupt are committed, are termed his Assignees or Trustees. (Sec Insolvency.) Bank Cheque. — An order on a banker to pay a certain sum of money when the order is presented, drawn out by a person who has money deposited with the banker. A bank cheque is usually a printed form filled up with WTiting. Examples. No. 324. Edinburgh, January 1, 1850. -<><>5 No. 324. Jan. 1, 1850. ><^< To the Treasurer of the Bank of Scotland. <>'. Bruce. >-:!SX Pay to Mr George Bruce, - - - or Bearer, £100. * No. 171. Jan. 1, 1850. Jas. Russell. £100. • This part of the fheque ia retained liv tlu' person who cirawi it out. r""!:*^?"? One hundred pounds H^.8 £100. + m No. 171. - - - Sterling. James Campbell, London, Jantcary 1, 1850. Tlie London Joint Stock Bank. Princes Street, Mansion-House. Pay to Mr James Russell, - - - or Bearer, One fmndred pounds £100. - - - Sterling. John Anderson. t Tlie cheque U cut or torn through l:ere when sent to the bank. The words in italics are those usually in writing; the others are piinted. P vm APPENDIX. Bills. — A Bill, or more properly speaking, a Bill of Exclianj3:e, is an agreement written on stamped paper, in wliicli a debtor agrees to pay to his creditor on a certain day a specified sum of money which he is owing to him. Bills are used for the settlement of accounts or debts. They are drawn at various dates, but in trade the usual tenii is from two to nine months. A Bill is tenncd an " Acceptance," or a " Promissory-Note," accord- ing to the form in which it is drawn out. The term bill is, however, sometimes applied more strictly to an " Acceptance." AN ACCEPTANCE. £100. due Nov. 8. London, 5th August 1850. TJtree months after dale, pay to me or my order Hie »um of one hundred pounds, value received. John Wilson. To Mr Thomas Arnold, Merchant, Strand, London. Tlie bill being drawn by Mr Wilson in this form, Mr Aniold, on wliom it is drawn, accepts it, by WTiting his name either below that of Mr Wilson, or across the face of the ^\Titing. Hence he is termed the acceptor of the bill. The bill, when accepted, will appear thus — £100. dtie Nov. 8. London, 5th A ugust 1850. Tliree viontlis after date, pay to me or my order Vie sum of one hundred pounds, valu£ received. j , wi. To Mr Thomas Arnold, Merchant, Thomas Arnold. Strand, London. The banking-house at which the bill is payable is also sometimes stated by the acceptor. If Mr Wilson, who is called the drawer of the bill, -wishes to make use of it, he indorses the bill — that is, writes his name across the back of it — and thus it becomes negotiable paper. It .may be paid away to a third party; and he indorsing it below Wilson's name, may pay it away to a fourth; who indorsing it in the same manner, may pay it away to a fifth ; and so on. Thus the bill may pass from hand to hand, on each occasion liquidating a debt of £100, till the day of payment by the original acceptor arrives, when it is duly presented by the hist holder. Disconnl'uici Bills. — Instead of running this course, the bill may at any period be discounted by a bill-broker or banker. The discounting of a bill consists in giving the money for it, less a certain sum for interesf. Five per cent, is the hi^fhest legal interest chargeable in the United Kingdom on all debts or loans in ordinary circumstances; but for discounting bills or promissory-notes, a larger per-centage may be legally taken. When a bill for £100 for three months (or fourth part of a year) is discounted at 5 per cent, interest, a charge equal to the fourth part of £5 is made by the discounter, and this is his profit for the loan of the money for that period. Prcs-ntiuentfor Acceptance. — "An Acceptance,'' to render it complete, APPENDIX. IX requires to be duly presented to the party on wliom it is drawn, that he may accept of it. This is not necessarj' in a " Promissory-Note." Presentment for Payment. — All bills require to be presented for pay- ment on the exact day they become due — that is, on the last day \f qrace (see next page) : if not presented, they cease to have the pecu- liar privileges of bills, and become mere evidences of debt. Noting and Protesiinp. — When a bill is not duly paid on presenta- tion, the holder applies to a notary-public, who again presents the bill. If not paid, he notes its non-payment, and afterwards draws out a formal protest on stamped paper, that legal steps may be taken for recovering the amount. The bill should be noted on the day it falls due : the protest may be written out afterwards. When the acceptor of a bill fails to pay the amount, the holder can fall l)ack for pajTiient on the drawer, or on any of the indorsers, provided lie gives them the earliest notice possible of its non-payment. In England, the noting and protest are necessary only for foreign (including Scoteli and Irish) bills: inland — that is, English bills — do not require to be protested, although it is common to note them. In Scotland, the noting and pro- test are indispensable in the case of all bills, foreign and inland. A bill may be protested for non-acceptance as well as for non-j)a}Tnent. A PROMISSORY-NOTE. £100. ditc Nov. 8. London, 5th August 1850. Three montlis after date, I promise to pay to Mr James Brown^ or order, tlie sum of one hundred pounds, value received. Robert Hamilton. The banking-house at which the bill is payable is also sometimes stated. No signature is wTitten aci"oss the front of the promissory- note ; it is complete in itself, and only requires to be indorsed by the holder of it (in the above case, James Bro\vn) when he wishes to make use of it, or to pay it away. Promissory-notes are in every respect liable to the same regulations as acceptances. Both promissory-notes and acceptances must be wTitten on stamps of the proper price ; if on stamps of an inferior value, they are not negotiable, and cannot be protested. Bills are sometimes drawn at sipht, or at so many days after sight; for example :— £50. London, 5th August 1850. Ten days after siglit, pay me or my order the sum of ffty pounds, value received. To Mr Thomas Jones., Castle Street, Liverpool, John Tliomson. A bill of this kind is usually drawii by a person at a distance from his debtor; and on wTiting it out and indorsing it, he transmits it to an agent in the town in which the debtor resides. The agent sends it to the debtor to be sighted ; which consists in the debtor — as, for in- stance, the above Mr Jones — accepting it by signing his name, and marking the day on which he has done so. The bill is now a negotiable instrument, and on the third day after the day specified it is present- able for payment. * APPENDIX. • \V^ m.™™*^".*^ ^''^^ fore'ifrn h\\h of exchange at somanv dav<. aftpr iff ^f ^'^7' ^''"' /^'! ^/ J^^^^'^^'>' *''^ «^"'<^ "^turc as^ul" nclor home bills of excliange; but for the Rake of security in transmission t^^v are drawn in sets of three. The folloA.'ing is a common fonn:-' ^ FOREIGN BILL, Exchange for £100 .sterling. Philadelphia, Jan. 1, 1850. No. 479. Sixty days ajler sight of thi8TinsT of TixcuASQE {second and third of same tenor and date unpaid), pay to the order ofJohnliohertson the sum of one hundred pounds sterling, value To Messrs Brown A Jones, Merchants, Liverpool. James Anderson. This bill being indorsed by Mr Robertson, is transmitted to Fnirlnnd S to' a'^*^";?^^^^" ^' % ^-bt of the 'same amount), Ind if pre stnted to Messrs /irotvn and Jones to be siyhUd, or seen by them When It becomes due it is presented to tliem for paj-ment according v The agent or individual to whom it is sent, rece ves bv the nextmcket the wTcck, this second is available, but otherwise it is of no use and mTv be destroved. The third bill of the same tenor is retXed bv^hJ drawer till he learn whether the first or second has been received f both have been lost, it is transmitted. Bills of this description C rare y sent by the actu.U drawer. They are usually paid a™ or sold onthe spot to anotlier party, who transmits them ti a crcd or of is own, and he negotiates the payment. ^^rcuiior or ins Daps o/-6Vace.— According to a practice of old standing, bills are nof presentable for papnent till the third day after tint whirl, is snTnir tor them to fall due. The three days .Allowed ^^e ca d th?7avsZ iji-ace. Tims a bill dra^vn on the 5th of Auunist -xi t rl «1LS^ ^^ not legally diie till noon of the 0th o/ NovtnTer ' In omeTounSe: the T)enod of grace is much lonifrT than three davs If ti o U, whc\, a bill falls due happens to be a BanL holilTor a S ndav^h^ bill IS payable the day previous. ' ^' ^"^ Bills of exchange fier\'e throe useful purposes in commerce 1 A ).;ii pus a debt in a tangible form: for exL.Lle, instead of leaving a^h of .t 00 to be paid at an indefinite perio*^, so as to protract its set !« merit, if it be put in the shape of a^pnm.iW to pay the "red tor mr rrV'o KW-' '■^^"'''*'' '"'>"'^"^ "^ '^ certain' an I not " rv distmTt IHTiod. 2. A bill ,s a negotiable instrument. If the part es be tr s worthy, t maybe discounted fur cash; and thus, wl/ile r^^dUor Mil receive hiH money, less a tritle tor .li«eount, the debtor is iH^f ,n m,. CHtrd t.l the final day of payment, a. A bill' is « .1 nve le. re, I" tentative ut money, which may be sent from place to j^laee iu a let er and It accidental y hmt, it. payment may be stoppej and a new bill torwHTiled to im destinathin. " « »iui a ne\\ dui Bill ok Knthy.-A lii.t of gtHHln ontertnl at the Customhouse. fij.l!'flil?! V*"!n'-^u>'^'?''.* '*" ''<'""l»*-a Vaper (usually a printed ft im filled up with wri lng\ given by th.^ m«Ht,r of a veNsi^l foV Zd: tut Imve been shipped with him. Four copies (so.netinuJmorTwr^ armwn out -one for the use of the master, another to be " U„^ bj t,^ APPENDIX. XI J. BROWN, Ship Hroker, Bircliin Lane Cornhill. kK. C. 1 Case. shipper of the goods, and the other two to be sent to the party to whom the goods are forwarded. Tlie shipper gives the party to whom he sends the bill the right to receive the goods. A bill of lading, like a bill of exchange, may be indorsed over to another person, who thus acquires the right to the goods. The following is a common form. The words in Italics are those usually wTitten :— Shipped in good Order and well conditioned, by Messrs Hamilton and Boyd., in and upon the good ship called the " Wellington,'''' whereof is master for this present Voyage, Wm. Crosbrj, and now lying in the River Tuames, axid bound for Hohart Town, Van Dieme.n''s Land. One Case of Printed Books, being marked and numbered as in the Margin, and are to be delivered in the like good Order and well conditioned at the aforesaid Port of Hohart Town, V. D. L. (the Act of God, the Queen's Enemies, Fire, and all and every other Dangers and Accidents of the Seas, Rivers, and Navigation, of whatever Nature or Kind soever, save risk of Boats so far as Ships are liable thereto, excepted) unto Mr Jones, or to his Assigns, Freight for the said Goods to be PAID IN LONDON, Ship lost or not lost, with Primage and Average accustomed. In Witness whereof the Master or Purser of the said Ship hath affinned to TV/ree Bills of Lading, all of this Tenor and Date ; the one of which Bills being ac- complished, the otliers to stand void. Dated in London, the 2hfli day of May 1850. Contents unknown to W. Crosby. Bill of Parcels. — A list or account of goods that have been sold, sent by the seller to the buyer. It is nearly the same as an invoice. Bonded Goods. — Imported goods deposited in a government ware- house until the duty is paid. Brokerage.— A charge of so much per cent, made by persons termed Brokers, for assisting merchants or others in buying or selling goods, or for transferring property from one person to another. Capital. — The nett amount of property belonging to a merchant after deducting the debts that he is owing. This term is more strictly applied, eith«T to the sum of money which he has embarked in hi's business at first, or to the available sum he may afterwards have at command for carrying it on. Carriers. — Persons who undertake to convey goods from one place to another, whether by land or water, are carriers. "Carriers are bound to receive and carry the goods of all persons, for a reasonable hire or reward; to take proper oare of them in their passage; to deliver them safely, and in the same condition as they were received (except- ing only sueli losses as may arise from the act of (iod or tlie king^s enemies): or in default thert^of, lo uuike compensation to the owner for whatever loss or damage the goods may have received while in their custody that might have been prt^-ented. Hence a carrier is liable, tlu>ui;h he be robbed t>f the goods, t)r they be taken i\\yni him by irresistible foivf. Ou the same principle, a carrier has been held accountable for gootlH •ocldentally eonsniueil by liit> while in his wju-ehouse."— .!/'( 'ultiKti. Violent storms, tempests, and lightning, are eotisidertnl to bo "the aet of Gotl," or Kueh as no human preeautiou could have averted, and no firftudulcut iuteutiuu vuuld have pixtduced. XI] APPENDIX. .nd 114 f. 119, the d«<^' h^'.Tle™ pli«"l'l"„ fl.';^?* ^"f". " '" ^■•'. ^ Lj " ^" ^''° if'»rf/tHf 111 order to Umih on HftTul.... Juae» Arnold, Loudon....! Diacount Union BftHk ',.."' Hill- ii.'c.ir«hu; No r. ..^: in 10 — A/». 31.— !>.il,Hn i>-H (iood»— ( ., A* tliin iiiK,Hmen of the CnnfilJook la irlrcn »u*rd.v to .how tl,« »whJ„ uf placing tho daU " JwJuron. nmi in a ICiUry arc ou.ittcd h'/c CMh. 20' 5 7J0 351 • 6 878 16 24 15 150 d' 5 49 16 ' 501 17 6 6 6 470 .0 6 151 •r trailer; wJ.o Tuvo ,. .!• a S ^,h« "»vo become inHolvent" pro....rty to their creclilor^; O lin.^^liTlu " Ir"; T'^' '7'/'"' "'"'^ and h.it ut liberty to i».irHni. -.nv « . r ^'i V 'if'; reliaNod Ironi i>ri8on, whiclaiH,yn.ay Jcc a Se iHli If '"'"".^'y,' *»'« property, however nntil thoir\.laiI„« fr «ettlS^ '" ^" "^''^^'^ "^«» ^y ^''-^^ credilorn; «.ni^":^";:^<:::;x?^:;t;;r'' ^'^ -»*-'-^'' ^y- «Kent for r^^^o::ii;;i^ZZ^::::::'^;^^^^^ l» earryin,onal>««i- ConiimnicM are of uJkillu V i"'''^> '/"'''/, '*'»'^' ^^^'w^J » i-nrtner. certain duties tc^uXuri ^^^^^^ '^"^^'^ ''<'vinK leave tl^e^oiiJ-nit lL'r.r ra^ r^^^ ' ArrENDix. sm save room, but in business tlic dates arc placed in the centre of each ]>nfte, ns shown ])clow. In this example is also shown a convenient method of balancing the Casli-Book daily. Ckish Paid, Jan. 1, in,W. Union Bank (loodii — Cash Purchaaei. Trade ExpcnRCH — Carriages JamcB \^'at»on, Edinburgh Cash on Hand .€26, 3h. 3d.* ♦ Thl» \n mnrUwl hero mcrolyan amcmorandum, to nhow that Iho two HidcH balance wlicn the eiuh on hand in taken into account. — Jan. 2. — Bills Payable, No. 1 Cwih on' Hand £2.0, 4k. 9d. an. 31. Union Bank CaHli on Hand.... The cash on hand is noted every day as above; b«it the Bum is not extended to the money columns till January .11, when the Cash-Book is finally balanced for the month. Discount. Cash. 250 6 95 f 352 200 1.5i 171 9 12 9 H It 552 12 9 500 1059 9 transfer his share to another person, by which a new member would be introduced into tlie linn, without the consent of the partners. Wliatever be tho share which individual partners liave in a concern, the wl»ole are equally liable for the debts incurred by the company, be- cause the i)ublic give credit only on tho faith that tlie company gene- rally is rcKponsible. He who draws the smallest fraction of prolit, failing the otliers, may be compelled to pay the whole debts. On this account every i)artner, on leaving a company, sliould be careftil to advertise in the Gazette and newspajicrs that he no longer belongs to the finn of which he was a member; he is then responsible for no debts incun-ed subHccjuent to the announcement. Public companies are very different: they consist of a large body of partners, or jaoprietors of siiares, tlie aggi'egate amount of which fonna a joint stock; hence such associations are caWai^ joint-stock companies. They arti public, from being constituted of all persons who choose to (•urchase hharts; and these shares or rights of partnership are also ]mb- iely 8alt*al>le at any time without the consent of the company. Unless specially provided for in the deed of coi>artnery, every member of a .jt.iut htoek company i« liable in his whole personal i»roperty or fortune jlbr the debts of the eoneern. In some instanoes this liability is ob- viated by the provi«ions of an act of jiarliauKnt, or parliamentary MV APPENDIX. i f.^-n^^f '!!''''"''""': 'i"", '»'?l«''y- •'"">'-'«><;k companies m manawd by ilirector» npiwund-d by tlie sharcliolilcni. "ijuain-a .^^"J'^^.V""'"'^ payment of «o much a pound hv a Laukmnt to liia mramo";„t":;ftrd^r" """" ""= """ ■« » -■.po.i.ion'k;-.';:: iu^x"r.2x™^ToYtr;ro^:i'"eS"ii^^;"r,i° :;:r -"-'^^ 4. ^^^^Vi'^-'^t'^T-''.'"',^"^'^^— ''^^*^''y"''^^'«" ''«« it8o^vn peculiar monev • that of he United Kingdom eonnisting of pounds, nhillE andjSnec' eHtabljHhed at a certain standard vahio, known by' the naSe'JwIT ' lirtfish (oh,mes.~Jn tlic British colonies it is usual to reckon monev "^^idZ T"'^"' '^f'T^ '^"^^ P^"^^ • ^'"^ t''^ -»'"«^ -f these dcTon^r nations of money fluctuates, and to distinguish it from sterlinir it is calle.l .,.rr.«.^ Tn Cana «^ '^-tXTe Post-Office ORDKri._An order granted at the Post-0(Hce for sums not exceeding five pounds. A person wishing to transmi monev tH ini^Zv' ^'^-V^'^ ^""Z'r^ *« the nearest Post-OfHee and recefves ' Ihn tJl'*" ''''^ •'' Pf7^^'" ^^ ^^'^ Post-Oflice where th^ person relfdes Post Omnnr.T''' |''^T"^^- ^^^^^" ^'^ ^'•^"t^^^ at the prhic pal exceeamg d^2, and 6d. for sums above £2. APPENDIX. xxi Posting.— Copying or transferring into the Ledger the entries made m the Day-Book, Invoice-Book, Cash-Book, and Bill-Book. Price Current.— The technical term for a list showing the market prices of commodities. Principal. — The term applied to money when lent out at interest. Protesting Bills. — See Bills. Receipt. — An acknowled^ent of a certain sum of money having been received. The following are common forms : — ^25 3 6. Edinburgh, January 1, 1850. Received from Mr John Brown^ London^ the sum of twenty-five pounds three shilli7igs and sixpence^ in payment of account rendered {or of atinejced account.) James Wilson. London^ March 31, \^50.— Received from Mr James Russell, the sum of sevenly-five pounds eight sltillings, inpayment of account to this date. •^75 8 0. jioiert T/iomson. Wlien the sum received amounts to two pounds or upwards, the receipt, in order to be legally valid, requires to be written on stamped paper, or to have an adhesive stamp attached. When an adhesive stamp IS used, the name or initials of the person must be written upon the stamp. ^ If a stamp is not required, an account may be marked as settled by tlie person who receives the money wTiting at the bottom of it " paid *' or "received payment," and then subscribing his name, thus— Mr W. Hunter. To John Adams, George Street, Edinburgh, 18-50. Alar, 31. Accoufit rendered £Jq jg o May 2. Paid, John Adams. When one person receives money on behalf of another, he signs thus : Paid, John Adams per Tliomas Smith. 3 Paid, Thomas Smith for John Adams. Salvage.— Wlien a ship or its cargo has been saved from shipwreck or loss at sea by uninterested parties, the persons saving the vessel or goods are entitled to remuneration from the owners. The sum paid is termed the salvage. Sequestration.— The term used in the law of Scotland to denote the form of process by which, if the creditors to a certain amount concur m petitioning for it, an insolvent's affairs are legally investigated, and his whole property officially taken possession of or sequestrated for behoof of his creditors. By the process of sequestration, if there has been no fraud, he is relieved from all his previous obligations. It is only persons in trade that are entitled to the benefit of this legal pro- cess. (See Cessio Bonorum and Insolvencv.) Sequestration has nearly the same meaning as " Fiat in Bankruptcy " in the law of England. xxu APPENDIX. i A Stamp Dwtiks.— Bills anu Prowissorv Xotks.— Inland*— t 1. d. 1 2 25, 3 50, 6 75, 9 100, 1 20O, 2 300, 3 400. 4 If not above £5, Above £5, and not above £10, 10, 25, > 50, 75, » 100, » 200, » 300, » » £ ■ Above £400, and not abor, £500, 5 5<»0, , » 750, 7 750, » , 1000, 10 1000, , , 1500, 15 1500, » , , 2000, 1 2000, , , 3000, 1 10 3000, . , 4000, 2 4000 and upwards, 2 5 d. 6 Inland Bills and Promissory Notes must be written on stamped paper. •BILLS, DRAFT3, or ORDERS PAYABI F 0\- hpiwavt^ .• u, , B1LL8.-F0RKIGN, drawn in, but payable out of, the United Kingdom- When drawn singly — Same as inland bills. When in sets of not less than three ; for every bill of each set— If not above £25, . . £0 Above £t.'5, and not above £50, 50, » . 75. 75, » « l(»o, 100, " » 200, 2(tf», » » 300, Above £300, and not above £4f»0, 1 4(X>, 500, 750, lOoo, 1500, 2000, 3000, 500, 750,0 1000, 1500, 2000,0 3000, 10 4000, 13 4000 and upwards, 15 d. 4 8 6 4 8 4 Brrr.s.-FoRKroN, drawn out of, but payable within, the United Kinedom- The same duty as on inland bills of the same amount. ^'^S^om B.LLS.-FoRKroN, when drawn and payable out of, but indorsed or negotiated withtn, the United Kingdom— ^ '"'unlteTlSifdo'm;" ' '"''^^ '"' '^""" "'''""' ^^^ P->'^^'« ««' ^f, the Adhesive stamps are used for the duties on Foreign Bills. StA.MP Dl'TMCS.— Rkceipts— Ifthesumamounts to£2, orupwards, . . j^ CmtfaZsTv^'sJL'p'^'' ^^"*""^ °" ^'^ ^'^' '^' --ayeo'nsist of a Tk RMS.— The following are the terms for leases, &c. :— England and Ireland. Lady Day, - - . March 25 Midsummer, - - June 24 Michaelmas Day, - September 29 Christmas, - - December 25 Scotland. Candlemas, - . Februarj- 2 Whitsunday, - - May 15 Lammas, - . . August 1 Martinmas, - - November 11 Tariff, or TARiF.-The term applied to a table of the articles subject to Customhouse and Excise duties, witli tlieir respective rates UNDERu-RiTER.-Tho name given to those who follow the profession of marine insurers : they undertake tlie risk of the insurance, and subscribe-that underwriter"" "'''"'"* "° ^ "^ '"" "^^^ ^xprchsing this-hcnce the term Venduk.-A colonial phrase, used instead of public auction. To sell goods at vendue is to dispose of them at auction. ^ Tw'f "*'"•~^'^'''''T''^* ''^^''■" '" proof of some payment having been made. Thus an account markal patd in the hands of a person, is a voucher that the 8um mentioned m the account has been paid. INFORMATION OBSCURFn AAA A Slisallaitcaus |)ublicafioits. Chambers's Jonrnal of Poptdar Literature. 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