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Author 
 
 Comer, George Nixon 
 
 Title 
 
 Book 
 
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 MASTER NEGATIVE # 
 
 COLUMBIA UNIVERSITY LIBRARIES 
 PRESERVATION DIVISION 
 
 BIBLIOGRAPHIC MICROFORM TARGET 
 
 ORIGINAL MATERIAL AS FILMED - EXISTING BIBLIOGRAPHIC RECORD 
 
 420 
 C7311 
 
 Comer, George Nixon^ d« 1877 • 
 
 Book-keeping x^tionalizedi adapted to all 
 kinds of business, * personal and partnership 
 commission and corporate* Together with en- 
 tirely new and rapid methods of computing'in- 
 terest, exchange, averaging accounts, etc. A 
 copious appendix, and a fac-simile of the 
 written pages of the day, cash, and ledger, 
 with forms of set of exchange, promissory 
 notes, drafts, etc. By George N, Comer ••• 
 41st thousand of the combined works. Boston, 
 
 fVed'k, A. Brown & co«, 1866. 
 
 168 p. fold. ^m^. front, (forms) 2 fold« 
 
 facsim. 19^. ' J 
 
 RESTRICTIONS ON USE: 
 
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 School ^^f^i^nSll^itrary 
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 LIBRARY 
 
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 V 
 
BOOK-KEEPUfG RATIONALIZED: 
 
 ADAPTED TO ALL KINDS OF BUSINESS, -PERSONAL AND PART- 
 NERSHIP, COMMISSION AND CORPORATE. 
 
 TOGETHER WITH 
 
 ENTIRELY NEW AND RAPID METHODS OF COMPUTING INTEREST, 
 EXCHANGE, AVERAGING ACCOUNTS, ETC. 
 
 A C0PI0D3 
 
 A.PPENDIX, 
 
 AND A FAC-SIMILE OF THE WRITTEN PAGES OF THE DAY, CASH, 
 
 AND LEDGER, WITH FORMS OF SET OF EXCHANGE, 
 
 PROMISSORY NOTES, DRAFTS, ETC. 
 
 BY 
 
 GEORGE N. COMER, A.M., 
 
 accountant; author of '•' dcRjblejEntr-^ .BcjoK-jtsEWNG .without the journal," etc.; 
 
 FOUNDER, AND, FQR TWENTY •TEAR* FAST, PRi'nCIPAL OF COMER'S 
 COifUERCIAL (lOLLESE, SOSTON. 
 
 * • t 
 
 1 t 
 
 FORTY-FIRST THOUSAND OF THE COMBINEb WORKS. 
 
 BOSTON: 
 FRED'K A. BROWN & CO. 
 
 CINCINNATI, OHIO: 
 
 GEORGE S. BLANCHARD 
 
 1865. 
 
MoTi^gomery Library 
 "^ ©f Accountancy 
 
 C7JI/ 
 
 Entered, according to Act of Congress, in the year 1861, by 
 
 GEORGE N. COMER, 
 
 In the Clerk's Office of the District Court of the District of Massachusetts. 
 
 NOW READY: 
 
 RULED BLANK BOOKS, 
 
 ADAPTED FOR TSINO WITH 
 
 OOMEE'S BOOK-KEEPING EATION ALIZED, 
 
 DAT, CASH, AXD LEDGER, 
 
 I 
 
 WITH PRINTED INDEX AND TRIAL BALANCES. 
 
 Eetail pjrice, 50 ots. per set. ' , 
 
 jQTJijials,' • : is efts. eaoh. . , . . .' 
 • • • * 
 
 . '^'' • . • ' ' 
 
 of' Accountancy 
 
 ElECTROTTPED AT TH£ 
 BOSTON 8TEEE0XTPI FOOKDRT. 
 
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 isr O T E 
 
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 Sixteen years ago I issued my first work on Book-keeping. At 
 that time it was the universal custom, with those who pretended to 
 keep their books by double entry, to "Journalize" the transactions 
 from the other books previously to posting to the Ledger; it is a 
 source of great gratification to me to know that at the present time 
 three fourths, at least, of all the best mercantile houses have dis- 
 pensed with that unnecessary encumbrance. 
 
 The very great success which has attended my efforts, and the 
 increasing applications from influential parties, have induced me to 
 prepare a work which shall not only meet the wants of School 
 Teachers and Students, but also be a reliable book of reference for 
 Book-keepers and Clerks ; and it may be presumed that, after 
 twenty years' experience as an Accountant and Principal of the 
 Commercial College* in this city, I have had some facilities for 
 ascertaining the wants of the class for whom I here purvey. 
 
 It is proper to state, that the article on "Commercial Compu- 
 tations," (with the exception of the opening chapter on Fractions, 
 Decimals, and Logarithms,) has been mostly prepared by Mr. Linton. 
 
 GEORGE N. COMER. 
 
 Boston, May, 1861. 
 
 * See Card at the end of this book. 
 
 (3) 
 
CONTENTS. 
 
 1 
 
 Book-Keepino — Introductory, 5 
 
 Hints to Students, '' 
 
 Directions to Teachers, ^- 
 
 Day Book, ^^ 
 
 Cash Book, ^^ 
 
 Explanations of Day and Cash Entries, and Posting to the Ledger, , . 34 
 
 Ledger, ^^ 
 
 Trial Balance, 41 and (-.3 
 
 Statement, ^ 
 
 Bills Receivable Book, ^^ 
 
 Bills Payable Book, ^^ 
 
 Posting the Bill Books, *'^ 
 
 Day Book — Second Form, l^ 
 
 Bills Keceivable Book— Second Form, ^2 
 
 Bills Payable Book — Second Form, '3 
 
 Sales Book, 1^ 
 
 Invoice Book, '5 
 
 Check Book, ^^ 
 
 Journal, '^ 
 
 Accurate Accountant— Test Set, 83 
 
 Partnership Set, ^ 
 
 Commercial Computations, ^^ 
 
 Fractions, ^^ 
 
 Decimal Fractions, ^^'^ 
 
 Logarithms, ^^^ 
 
 Interest, ^^J 
 
 Sterling Currency, ^^^ 
 
 Discount, ^^^ 
 
 Profit and Loss, ^'^ 
 
 Percentage, '^" 
 
 Averaging Accounts, ^21 
 
 Exchange, ^^^ 
 
 Cubic Contents of Boxes, Bales, Ac, 1+t 
 
 Table for Farmers, ^**''* 
 
 Table of Cubic Measures, • • ^'^ 
 
 Equation of Storage, '^'' 
 
 Appendix— Mercantile Terms, Forms, &c., HS 
 
 Circular on making Bank Deposits, • . . . ir4 
 
 Table of Foreign Moneys, l^^** 
 
 Questions for Practice — Liquor Agency Account, &c., ifi? 
 
 Card — Comer's Commercial College, 168 
 
 (4) 
 
 I 
 
 BOOK-KEEPING. 
 
 Book-keeping is the art of recording and classifying a merchant's daily 
 transactions, and of keeping an account of his property and debts. 
 
 Book-keeping is nothing but a series of additions and subtractions system- 
 atically arranged. Whatever amount is placed to the debit or credit of an 
 account is added to that side of the account, and is an offset to, or is offset by, 
 whatever amount may be on the opposite side of the account. 
 
 Illustration. 
 
 1. A. B. buys of me Mdse. 
 
 2. A. B. " " " " 
 
 A. B. owes me 
 
 3. A. B. pays me Cash 
 
 A. B. owes me 
 
 4. I buy of A. B. Mdse. 
 
 I owe A. B. 
 
 5. I buy of A. B. Mdse. 
 
 I owe A. B. 
 
 6. I pay A. B. Cash 
 
 $500 
 300 
 
 800 
 500 
 
 Add. 
 
 Subtract. 
 
 5QQ ^Subtract. 
 
 200 
 300 
 
 500 
 50O 
 
 Add. 
 
 Subtract, 
 
 A book-keeper would arrange such an account, to show the whole transactions 
 at a glance, thus : — 
 Dr. a. B. Cr. 
 
 Merchandise 
 Cash 
 
 500; 00 3 
 30OlO0!| 4 
 50000 1 5 
 
 1300,00 
 
 Cash 
 Merchandise 
 
 (( 
 
 a, 
 
 $ 
 
 500' 00 
 500 00 
 .300 00 
 
 1300 00 
 
 The system pursued in double entry serves the following purposes : — 
 
 1. To test the accuracy of the posting — the second posting being a check on 
 the first. 
 
 2. To show the amount of goods bought and sold during the year, or for any 
 
 othur given time. 
 1* 
 
 (5) 
 
BOOK-KEEPING. 
 
 HINTS TO STUDENTS. 
 
 3. To show the profit or loss on the various departments of the business. 
 
 4. To keep distinct accounts, under their several heads, of the different 
 branches of stock in trade, and other property. 
 
 The followinf' are the most important of the books used in Book-keep- 
 
 ing:— 
 
 Invoice Book, for Goods bought. 
 
 Sales Book, for Goods sold. 
 
 Cash Book, for Cash received and paid ; discount or abatement received 
 and allowed. 
 
 Check Book, lor orders on a bank for money deposited. 
 
 Bill Books, for Bills Receivable and Payable. 
 
 Day Book, for entries which do not properly belong to cither of the other 
 books. 
 
 Ledger, to contain an abstract of the other books. 
 
 Stock Book, to contain an inventory of the Stock on hand at the time of 
 taking stock. 
 
 Letter Book, to contain copies of letters. 
 
 Various other books may be used, aceording to the nature of the business. 
 Full explanations of these books will be found under the proper heads in the 
 Appendix. 
 
 For convenience of space, the success in instructing, and to show the facility 
 with which a small, or even a very considerable, business may be done with 
 only three books, a Day Book, Cash Book, and Ledger are all the principal 
 books used in the examples which follow. 
 
 "DR. TO" AND "OR. BY." 
 
 It has been a very general practice to use the words To and By as prefixes, 
 as Dr. To, Cr. By, both on the books of original entry and on the Ledger. 
 I have dispensed with these words, feeling that they have done more to con- 
 fuse the minds of beginners in book-keeping than all the words in the lan- 
 guage. Besides, there is not only no use for them, but they absolutely convey 
 a wrong idea. When we say A. B. Dr. To Merchandise, it is not the fact. 
 A. B. is Dr. to us for the merchandise we have delivered to him, and never ^as, 
 and never could be. Dr. to the Merchandise. 
 
 Some teachers may imagine that the entries on the Day Book are too difficult 
 for learners. To this I can only'say, that a youth, upon his entrance into a 
 counting room, is expected to be able, at least, to copy invoices neatly and cor- 
 rectly. Every entry here introduced is the duplicate of an actual business 
 transaction, and for this I claim the advantage of teaching the student to do 
 here what he may be called upon to do hereafter. 
 
 (6) 
 
 HINTS TO STUDENTS. 
 
 As Book-keeping is an art, and not a science, — that is, a somethmg to be 
 ione^ rather than a something to be known, — Xha mere readmg of this book, 
 or the copying out of its examples, will not be sufficient. There should be 
 such a knowledge of its principles acquired, that — supposmg any form of 
 business to be given — the student shall be able practically to work out such 
 assumed transactions to any desired extent ; so that, when he shall be called 
 upon to undertake the management of a real set of books, he may be perfectly 
 competent so to do. To insure this practical familiarity, the student is re- 
 quired to write out the entries, making all the computations, then post them 
 to their appropriate places on the Ll^cr, and finally to take a memorandum 
 record of transactions, make the original entries in their proper form, and 
 carry them through the books precisely the same as he would have to do in 
 actual business. In a word, to acquire the art of keeping books, we must 
 keep them, just as we learn to swim by swimming. 
 
 The necessity for writing quickly, and the want of carefulness at first, are 
 the causes why so few clerks, comparatively, write a good hand. But they 
 should remember that this is a most important qualification, and a deficiency 
 hi this respect may be an insuperable bar to promotion. You ought to be 
 careful to write & plain hand. You impose upon your correspondents a very 
 unnecessary and very unpleasant tax if you require them to go over your 
 letters two or three times in order to decipher your writing. A business hand 
 is equally opposed to a very fine hand. A letter in fine, finical writing, 
 adorned with a variety of flourishes, will give your correspondent no very 
 high opinion of you as a man of business. 
 
 The young clerk should be taught to fold all Letters, Invoices, &c., on a 
 tin, so that they shall be of uniform size, making a neat package, properly 
 labelled on the back, or surface next the eye, with the name of the correspond- 
 ent or seller, date, date of receipt, &c. 
 
 He should be taught to sign his name in full when receipting for money or 
 goods had for his employer, thus, " For William Ewart, James Jones ; " 
 and not, as is too commonly seen, " William Ewart, J." 
 
 He should also be taught to make his figures clear and plain, so that a 2 
 cannot be mistaken for a 3, nor a 3 for a 5. He should also take care that the 
 tail of his 7 or his 9 does not run into the line below, and thus turn a into a 
 6, and also that the top of his 4 does not reach so high as to turn a in the 
 
 (7) 
 
M' 
 
 BOOK-KEEPING. 
 
 tine above it into a 9. He should be careflil, too, In putting his figures under 
 one another, so that the units shall be under the units, the tens under the 
 tens, the hundreds under the hundreds, and the thousands under the thou- 
 sands ; otherwise, when he adds up the columns, he will be in danger of 
 making a " wrong cast." To insure accuracy, a clerk will cast every col- 
 umn twice. The old mode of doing this was to begin at the bottom of 
 each column, adding upwards, and carrying the overplus to the next column, 
 and having found the amount, to reverse the order, commencing at the top 
 and adding downwards. An accountant, however, is always liable to inter- 
 ruption, and frequently when half through an addition of several columns of 
 figures : to enable him, therefore, to leave ofi"at any column, and resume at any 
 time where he left off, without the necessity of remembering the figure to 
 carry, the following method is offered : — 
 
 
 273.51 
 
 
 
 341.22 
 
 
 12 
 
 469..37 
 
 17 
 
 35 
 
 327.14 
 
 29 
 
 31 
 
 29.63 
 
 84 
 
 29 
 
 60.50 
 
 35 
 
 17 
 
 85.70 
 
 12 
 
 1587.07 
 
 1587.07 
 
 Here he may begin at either side first ; and if the amounts do not correspond, 
 he can at once see in which column the error has occurred, without the neces- 
 Bity of going over the whole. 
 
 Quickness can be acquired only by practice. But he would accelerate his 
 Bpced by making his figures plain, and placing them strictly in a line under 
 one another. He should also learn to cast without speaking, for the eye and 
 the mind will go faster than the lips. 
 
 He will also be taught to balance ; that is, to find the difference between two 
 Bums by addition, instead of subtraction. Thus, if the two sums be 
 
 and 
 Difference 
 
 3741.16 
 1532.27 
 
 2208.89 
 
 But he must be taught to proceed by a mental process, and will add the differ- 
 ence to the smaller number, thus : — 
 
 1532.27 
 
 2208.89 
 
 3741.16 
 
 3741.16 
 
 He performs this operation by beginning with the cents, saying, or rather 
 thinking, " seven and nine make sixteen," "three and eight make eleven," 
 and so on. And thus the two sides of an account are made to balance, that 
 is, both sides are of the same amount. 
 
 The principle of balancing pervades the whole system of book-keeping. 
 
 C8) 
 
 HINTS TO STUDENTS. 
 
 ror example, we know that if to the amount of cash on hand last night we 
 IddtreTmunT received to-day, and deduct the amount paid to-day the r. 
 mainderTill show the amount on hand to-night, and a novice would very 
 naturally put it down in this form : — 
 
 Cash on hand last night, 
 Beceived to-day, 
 
 Paid to-day, 
 Cash on hand to-night, 
 
 $ 583.71 
 1623.54 
 
 2207.25 
 1856.42 
 
 S 350.83 
 
 But an acconntant would arrange these four items in such a way as to form a 
 balance, thus : — 
 
 On hand last night 
 Keceived to-day 
 
 583 
 11623 
 
 71 
 
 54 
 
 $ 2207 25' 
 
 Paid to-day 
 
 On hand to-night 
 
 1856 
 350 
 
 42 
 83 
 
 2207 25 
 
 When he has placed this sum, $350.83, he adds up the whole, mcludmg this 
 Bum, in order to check the operation, and to be sure that he is nght. 
 
 It is sometimes thought, that though double entry may be a very proper 
 mode of book-keeping for merchants, it cannot be advantageously apphed to 
 such kinds of business as manufacturing, retailing, &c. This is a mistake 
 It can be applied to erery description of business, and, in allits use would 
 be attended with advantages which can never appertain to single entry 
 
 Let us take the case of a retailer, as for example that of a Bt-ti-e^' ^ 
 which the articles are very numerous, and the ready -^^-^^ ^^^^^^^^^^ 
 very small, as a single sheet of writing paper, value one cent. ^^^^^^^^^^ 
 a retailer sells in small quantities, he does not usually brcy so. H- P-f^^^^ 
 are wholesale, though his sales are retail. His paper will usually com irom 
 a few houses, his pens from one, his ink from another, and so on Thes w^ 
 be all classed under the one general account of " '^'^'^''^^'oTtZ a e 
 purchases this account becomes debtor, and the parties ^^ J^^ ^^//^f 
 made, or the cash paid for them, are the corresponding credit . J^^- - J 
 gardshis sales: it is obvious that he must either sell ^^.'^'^^'^''''^''^^J. 
 Lney. In the first case, under any system of book-keeping, ««™«^°\^"f 
 be taken of such sales : they will be entered in a Sales Book or a ^^V^^J^^ 
 from which they are transferred to the Ledger, to the debit of the P-^f^^^-^^ 
 and by double entry to the credit of the merchandise account. In the second 
 case, the sale is made, the money put into the drawer, and so the matter ends 
 If any money is received for a book debt, some memorandum of the amount 
 is made, and that deducted from the whole amount received, leaves the re- 
 maining sum to be entered on the debit side of the Cash for Sales of Merchan- 
 dise that day, and by double entry to the credit of the merchandise account. ^^ 
 
 This goes on till the period for balancing the books, when « stock is taken, 
 and the amount of goods on hand placed to the credit of the merchandise 
 
 (9) 
 
BOOK-KEEPING. 
 
 m 
 
 account, the difference between the two sides of which Is profit or loss. The 
 expense account would receive all payments for rent, taxes, wages, insurance, 
 &c. The discount and interest account would be like that of a merchant ; and 
 valuable as such an account is in all cases, it is particularly so to the retailer. 
 
 Interest is a sort of commercial moth, which secretly but constantly eats 
 into the profits, and the precise amount of mischief ought to be known. 
 Many a retailer would be astonished if he saw at the end of the year what an 
 item this had formed in his business, and to what an extent the profits calcu- 
 lated upon had been diminished by its operation. 
 
 Thus it is evident that double entry may be judiciously applied to any de- 
 scription of business : the utility may be more conspicuous in some kinds 
 than in others, but there can be no doubt of its applicability to every business. 
 This is not mere assertion, but a proved practical fact. I know of houses in 
 almost all departments of business where this method has been adopted for 
 several years, with the most satisfactory results. 
 
 Full explanations and directions for applying these principles will be found 
 at page ii. 
 
 J 
 
 GEORGE N. COMER'S 
 
 DAY, 
 
 CORRECTION. 
 
 In the entry on the Day of the 23d March, page 11, the amotint of a Draft for 
 £600 at 9 per cent, is erroneously carried out $2904.00, instead of $2900.60 j con- 
 sequently the amount of the " Note to balance " Is wrong. As It would occa- 
 sion the alteration of several plateg to correct this error, it is allowed to remain 
 with this acknowledgment. 
 
 (10) 
 
 OR 
 
 BOOK OF ORIGINAL ENTRY, 
 
 FOR ALL TRANSACTIONS EXCEPTING 
 
 CASH. 
 
 <i« 
 
BOOK-XEEPINO. 
 
 DAY BOOK. 
 
 DIRECTIONS TO TEACHERS. 
 
 It is intended that the blank books shall, when written out, contain the same 
 quantity of matter on a page as the printed books. In order to do this con- 
 veniently, the Day should have forty-two (42) blu« cross lines ; that is, one for 
 the heading, and forty -one (41) below the double red Unes under the head line. 
 The Cash and Ledger should each have forty-nine (49) blue cross lines ; that 
 is, one for the heading, and forty-eight (48) below the double red lines under 
 the head line. 
 
 In going through the books the first time, the student should copy the en- 
 tries on the Day and Cash for the entire three months, excepting the closing 
 entries on the Day. Then the meaning of the entries should be explained, 
 and the method and reason of Posting to the Ledger, (see Explanations, com- 
 mencing at page 34 ;) and to facilitate the study, and keep the mind upon one 
 book rather than to be vacillating between the books, it is recommended to 
 post for one month from the Day, then from the Cash for that month, and 
 then take the Trial Balance. This may cause the dates to be irregular, but the 
 advantage more than compensates for that ; and by the time the student has 
 gone through the books the first time, his mind will have become so familiar- 
 ized to the matter of debits and credits, that in going through the next time 
 he ought to write off at a time only one day's business on the Day and Cash, 
 and then post those entries, or as much of them as required to be posted at 
 the time, just as he would in actual business. 
 
 When the student has successfully gone through the second time he ought 
 to be so far advanced as to be able to take the " Test Set," make the original 
 entries in proper form, and carry them through to completion. 
 
 It can never be supposed that any written directions can be equal to verbal 
 instruction under a competent teacher, who illustrates his advice by doing 
 some of the work as it progresses ; but I have endeavored to make the princi- 
 ples BQ clear that an intelligent student wUl find little difficulty in applying 
 
 '^*^- (12) 
 
 Boston, l8t January 
 
 1&- 
 
 /The year to be insertr\ 
 V ed by the student. / 
 
 Drs. Crs. 
 
 Sit 
 
 Schedule of Assets. 
 Merchandise, per Stock Book 
 Ship Sultana, my 5-lOths. Cost 
 Eeal Estate at Brookline, valued at 
 Cash, per Cash Book 
 Bank of Commerce, on deposit 
 Bills Receivable, per Bill Book 
 Albert Knowles owes me 
 
 Robert Vanevar 
 Samuel T. Gordon 
 Rollins Bros. & Co. 
 Henry Underwood 
 
 Schedule of Debts. 
 Bills Payable, per BiU Book 
 William Jones 
 Quincy, Dane & Co. 
 Daniel Davis 
 George N. Comer 
 
 _2d. 
 
 13 
 
 William Jones, 
 
 For 50 Rms. White Laid Letter 
 5Q u « Wove 
 
 50 « Blue Laid 
 50 (( «« Wove 
 
 400 Gross Comer's Steel Pens 
 
 100 
 
 100 
 _3d 
 
 6 
 
 Case, Wilson & Co. 
 
 For 50 Bbls. Super. I lour 
 50 " Family 
 10 " No. 1 Mackerel 
 10 " Mess Beef 
 10 « " Pork 
 10 Boxes No. 1 Soap 
 Gross 743 lbs. Tare 59 lbs. 
 
 ____-CR.— 
 For their Note at 6 mos 
 
 , (IS) 
 
BOOK-KEEPING. 
 
 Id 
 
 Boston, 5th January, 18 — 
 
 Drs. 
 
 Crs. 
 
 14 
 
 QuixcT, Dane & Co. 
 
 For 16 Hhds. N. O. Sugttr 
 
 Cr. 
 
 Gross 
 Tare 
 
 Net 
 
 cwt. 
 245 
 
 17 
 
 qri. 
 
 
 Iba. 
 16 
 
 12 
 
 227 3 4 
 " 200 Boxes Malaga Baisins 
 8th 
 
 e $7-50 
 2.25 
 
 SOAMES, SMYTHE & Co. 
 
 Cr. 
 
 612C1 
 
 For 10 Bags No. 1 Lamb's Wool 
 
 Mark. 
 
 Iftt 
 187 
 194 
 185 
 156 
 
 Weight. 
 
 lai 
 
 185 
 190 
 182 
 154 
 
 12 
 
 8»4 
 _844 
 
 1738 
 
 Tare. 
 3 
 3 
 3 
 3 
 3 
 
 15 
 14« 
 
 Mark. 
 
 161 
 182 
 178 
 165 
 173 
 
 Weight 
 159 
 179 
 174 
 162 
 170 
 
 Tare. 
 3 
 3 
 3 
 23 
 3 
 
 &H 143 
 
 $ 
 
 293=1708»@ .50 = 854.25 
 Dis. 1>B 8.54 
 
 10 Bags ® .75 
 _Dr. 
 
 845.71 
 7.50 
 
 853.21 
 3a3.21 
 
 For my Note at 6 raos. 
 
 Cash to Balance, $303.21. 
 10th 
 
 17 Alfred Arxot, Berbice, Cr. 
 For 25 Hhds. Sugar received per Christina, 
 Cap_t# Gale 
 ^ >^ 37 @ 61. Net 431.0.21 ® .08 
 12th 
 
 Bank of Commerce, Cr. 
 For Check for Specie to pay Duties on Sugar 
 from Berbice 
 " Check to Capt. Gale, for Freight, &c. 
 r 13th 
 
 18 
 
 William Smithsox, 
 For 11 Bales Shirtinffs 
 
 r 
 
 A 276-610 
 277-609 
 278-617 
 279-615 
 
 280-614 
 281-614 
 282-611 
 283-626 
 
 Dr. 
 
 284-618 
 286-617 
 286-617 
 
 6768 @ .07> 
 
 1708 
 450 
 
 30 
 
 42 
 
 I 
 00 
 
 5126130 
 
 550 00 
 
 3449 
 
 68 
 
 828 
 317 
 
 5o; 
 
 00 
 50 
 
 60 
 
 2158 
 
 650 00 
 
 42 
 
 3449 
 
 68 
 
 1145 
 
 507 60 
 
 50 
 
 $!| 59072:50 59072,150 
 
 (14) 
 
 DAY BOOK. 
 
 
 
 Boston, l&th January, 18— 
 
 Drs. 
 
 Crs. 
 
 -• 
 
 
 •- 7~ 
 
 $ 
 
 69072 50 
 
 59072 60 
 
 
 17 
 12 
 
 Alfred Arxot, Berbice, ^^^ 
 For my Acceptance his Draft at 20 days' 
 sight, favor of James Brown 
 
 2500 00 
 
 2500 00 
 
 
 
 1 Sth — 
 
 500 00 
 
 500 ( 
 
 
 
 19 
 20 
 
 George C. Naylor, ^^^ 
 For my Order on OUvera & Co. for 100 Tons 
 Pictou Coal ® $5.00 
 
 30 
 
 
 
 ^n+h 
 
 
 2000 
 
 
 
 
 
 
 12 
 
 Robert. Elliott, ^r. 
 For my Note due 18th March, 
 
 given up 
 
 T)R 
 
 00 
 
 
 1 
 12 
 
 For 215 Bbls. Flour ® ^^-^ 
 « my Note at 3 mos. due 23d April 
 
 1290 00 
 710 OC 
 
 
 
 
 22d. ._ 1 
 
 2000 OC 
 
 » 2000 
 
 
 
 6 
 6 
 
 BANK OF Commerce, ^^' 
 For Hiram Low's Note, due 16th February, 
 deposited for collection 
 
 00 
 
 
 
 C.n. 
 
 
 
 
 
 5 
 28 
 
 For Check to Eliot Ins. Co. for Insurance 
 of Merchandise in Store 
 
 111 00 111 
 
 00 
 
 
 1 ?M. 
 
 
 
 
 
 11 
 
 Henry Underwood, Cr. 
 
 
 
 
 For B. Dodd's Note at 8 mos., beuig his 
 
 
 
 
 
 6 
 
 Composition of 50 per cent. 
 
 225 00 
 
 
 
 21 
 
 « Abatement to Balance 
 
 225 00 450 
 
 00 
 
 11 
 
 
 04tT, 
 
 
 
 
 1 
 
 3 
 
 House at Brookline, I>k. 
 
 
 1 
 
 12 
 
 For my Note to Firemen's Ins. Co. for 
 Premium 
 
 130 00 13G 
 
 00 
 
 
 
 oufh. — 
 
 
 
 
 
 
 Joseph Woods, ^^' 
 
 
 
 12 
 
 For my Note at 2 mos. 
 
 750 00; 
 
 
 
 
 Cr. 
 
 
 
 
 r 
 
 6 
 
 For his Note of same amount, date and 
 
 
 
 
 
 
 time, exchanged for his accommoda- 
 tion 
 
 > 67513 i 
 
 750 00 
 
 ■ 
 
 
 t 
 
 V) 67513 60 
 
 1 
 
 (16) 
 
BOOK-KEEPING. 
 
 Boston, 2(Sih January, 18— 
 
 Drs. Crs. 
 
 23 
 
 24 
 
 22 
 
 25 
 
 6 
 
 17 
 
 Estate of the late Edward Evans, Cr. 
 For the following Property (as per Ap 
 praisal from Probate Court), which, as 
 Administrator, I hold in trust for the 
 
 Heirs — 
 House and Land at Waltham 
 75 Shares Exchange Bank Stock 
 30 " Western R. R. *' 
 John Todd's Note, due 23d June 
 
 27th — 
 
 Alfred Arnot, Berbice, !>»• 
 
 For Peros & Co.'s First of Exchange on 
 Youles & Wians, remitted this day, for 
 which I gave my check on the Bank of 
 Commerce. 
 Premium 2^ $18.99. Paid in Cash. 
 
 29th. _ 
 
 67513 
 
 50 
 
 16 
 
 26 
 27 
 
 George N. Comer, ^r. 
 
 For the following Property, received of 
 the Executors of the late Charles New- 
 hall, being part of the Legacy left me 
 
 by him — 
 Farm in Watertown, valued at 
 40 Shares Fitchburg R. R. Stock 
 30th 
 
 Bank of Commerce, ^^* 
 
 For Nolan Reed's Note, due 27th February, 
 
 deposited for collection 
 31st ■ 
 
 24 
 
 House at Waltham, ^^ 
 For Clieck to Boston Mutual Fire Ins. Co. 
 for Premium 
 aiRf.. . 
 
 10 
 
 Rollins Bros. & Co. 
 For 100 Bbls. Mess Beef 
 50 «' " Pork 
 50 « " Mackerel 
 
 Dr. 
 
 @ $19.25 
 19.00 
 16.00 
 
 67513 5(1 
 
 9500 00 
 7500 00 
 3000 00 
 1000 00 
 
 ^9 
 
 21000 00 
 
 68 
 
 949 68 
 
 6000 
 4000 
 
 00 
 00 
 
 760 
 
 10000 
 
 00 
 
 00 
 
 760 
 
 00 
 
 196 
 
 1925 
 950 
 800 
 
 104093 
 
 00 
 
 00 
 
 oo| 
 
 195 00 
 
 3675 00 
 
 104093118 
 
 (16) 
 
 18 
 
 21 
 5 
 
 35 
 29 
 
 20 
 
 12 
 
 30 
 
 31 
 
 19 
 30 
 
 DAY BOOK. 
 Boston, 1st February, 18— 
 
 WILLLIM SMITHSON, 
 
 For 10 Pieces Black Silk, 
 
 10 " Irish Linen, 275 " 
 
 5 " Black Cloth, 125 " 
 
 6 « Black Doeskin, 112 " 
 
 Cr 
 
 Dr 
 
 387 yds. @ $1.05 ■ 
 
 .03 
 3.25 
 1.16 
 
 For his Note at 3 mos. in account 
 2d 
 
 New England Mutual Life Ins. Co., Dr. 
 For Check for Annual Premium 
 
 Cr — 
 
 For their Life Policy of Assurance, payable 
 to my Assigns at my decease 
 4th — _ 
 
 Olivera & Co., 
 
 For 21 Bales Shirtings 
 
 5tb. 
 
 Dr. 
 
 12,873 yds. Q .082 
 
 Real Estate at Buookline, Cr. 
 For the following Items received from the 
 Firemen's Insurance Co. for Damages 
 done to the Buildings by Fire, on the 
 2d iust. 
 "my Premium Note given up 
 " their Check on Columbian Bank de- 
 posited in Bank of Commerce 
 6th — 
 
 Bank of Commerce, Cr. 
 For my Check for Freight, &c., of Mdse. 
 received on Consignment from Defree 
 & Co., New Orleans, to be sold on their 
 Account 
 « my Check for their Draft at Sight in 
 favor of F. Tatlock 
 8th 
 
 George C. Naylor, 
 
 For Defree & Co.'s Merchandise 
 
 Dr. 
 
 Drs. Crs. 
 
 I 
 400 35 
 
 173:25 
 
 I 
 400 25 
 
 129 92 
 
 1623 
 
 232 
 
 8000 
 
 37 
 
 00 
 
 00 
 
 1094 
 
 20 
 
 1^1 
 
 13^00' 
 
 1870 
 
 300 
 1800 
 
 00 
 
 00 
 00 
 
 2200.00 
 
 $ 
 
 Id 
 
 18365 j 34 
 
 1115 
 
 1623 
 
 232 
 
 8000 
 
 7? 
 37 
 
 00 
 
 00 
 
 1094 
 
 20 
 
 2000 00 
 
 2100 00 
 
 2200 00 
 
 1&305 34 
 
 2* 
 
 (17) 
 
e 
 
 BOOK-KEEPING. 
 
 DAY BOOK. 
 
 Bosionj 9th February^ 18— 
 
 Drs. 
 
 Crs. 
 
 '« 
 
 6 
 
 sa 
 
 34 
 
 14 QciNCY, Dane & Co., Dr. 
 For my Check for this Bum advanced in 
 consideration of Invoice of Merchandise 
 received on Consignment, for sale ou 
 their Account 
 12th 
 
 M. LovERiNG, Dr. 
 
 For 250 Ems. White Wove Letter, 
 
 ® 4 mos. S $3. $750 
 «« 250 « Blue Laid Letter, 
 
 @ 6 mos. @ $3. 750 
 
 Cr 
 
 For S. Jones' Note, Ist Feb'y, 6 mos. 
 " William Hews' Note, 2Gth Nov., 5 mos. 
 " N. Coe's Note, 6th Nov., 4 mos. 
 " Interest to Average 
 " Cash to Balance, $432.29 
 13th 
 
 William Holmes, Dr. 
 
 For 2 Cases Dark Brown Cloth, 3 6 mos 
 
 ^ 559 12 pieces 247 
 663 13 " 2f»3 
 
 1 510 yds. @ 2.62« 
 
 30 " Defree & Co.'s Merchandise, ® 3 mos. 
 
 33 " Quincy, Dane & Co.'s « 4 " 
 
 Cr 
 
 For his averaged Note dated 28th Jan. @ 5 mos. 
 14th 
 
 Shipped to Philadelphia, and consigned to Felix 
 Zahnt to be sold on my Acceunt — 
 
 cwt. qri. lbs. 
 
 6 Casks Cocoa, Gross 26 2 4 
 Tare 1 2 23 
 
 24 3 
 200 Boxes Oranges 
 200 " Lemons 
 100 «« Muscatel Raisins 
 200 Drums Figs 
 100 Bbla. Bald\vin Apples 
 60 " Cranberries 
 
 6 
 
 @9.90 
 2.95 
 2.12 
 2.25 
 1.65 
 2.00 
 7.25 
 
 $ 
 
 18366 34 
 
 (18) 
 
 600 00 
 
 500 00 
 
 i I 
 300 00 
 
 I I 
 250 00 
 
 1338 
 
 71 
 
 75 
 
 800 00 
 95000 
 
 245 62 
 690 1 Oo' 
 
 424 OOJ 
 225I00I 
 330|00, 
 
 20000! 
 362I5O1 
 
 25398 92 
 
 18365 34 
 
 600 
 
 1067 
 
 00 
 
 71 
 
 3068 76 
 
 2377 12 
 
 25398:93 
 
 
 Boston, ibth February, 18— 
 
 DR9 
 
 • 
 
 Crs 
 
 • 
 
 
 $ 
 
 25398 
 
 92 
 
 25398 
 
 92 
 
 36 
 
 CONSIG^fMENT FROM VAUGHN LLOYD, DR. 
 
 For my Check for Duties on Merchandise 
 received per Ship Snowflako, from Glas- 
 
 
 1 
 
 
 
 5 
 
 gow, for sale on his Account 
 
 650 
 
 00 
 
 650 
 
 00 
 
 
 Shipped per Wanderer, Capt. ]Martin, and con- 
 
 
 37 
 
 signed to Davis & Moore, St. Thomas, to 
 
 • 
 
 
 
 
 38 
 
 be sold on Account of Elias P. Young 
 and myself 
 Invoice of Flour bought of R. Jones & Co., 
 
 
 
 
 
 6 
 
 and paid for by my Check 
 Invoice of Beef and Pork, bought of S. Peers, 
 
 5000 
 
 00 
 
 
 
 12 
 
 for my Note at 3 mos. 
 Invoice of Soap and Candles, bought of T. 
 
 4500 
 
 00 
 
 
 
 38 
 
 Lane & Son, for E. P. Young's Note 
 Freight, Shipping Charges, Insurance, &c, 
 
 6500 
 
 00 
 
 
 
 38 
 
 paid by E. P. Young 
 19th. 
 
 1375 
 
 00 
 
 i 
 
 16375 
 
 00 
 
 39 
 
 Felix Zahnt, Dr. 
 
 
 30 
 
 For Defree & Co.'s Merchandise 
 10th 
 
 2800 
 
 00 
 
 2800 
 
 00 
 
 30 
 
 Consignment from Defree & Co., Dr. 
 
 
 
 Per Account Sales rendered this day — 
 
 
 
 
 
 40 
 
 For Commission 5 per cent, on total Sales, 
 
 
 
 
 
 
 $5800 
 
 290 
 
 00 
 
 
 
 41 
 
 " Guaranty on ditto 22 per cent. 
 
 145 
 
 00 
 
 
 
 28 
 
 " Advertising 
 
 15 
 
 50 
 
 
 
 31 
 
 " Defree & Co. Net Sales to Balance 
 
 9Mh. 
 
 5043 
 
 25 
 
 6493 
 
 75 
 
 38 
 
 Elias P. Y'^oung, Cr. 
 
 
 6 
 
 For his Note at GO days, to close Account— 
 
 
 
 
 
 
 due 24th April 
 
 1312 
 
 50 
 
 1312 
 
 50 
 
 
 91 Bt. 
 
 
 
 
 
 42 
 
 Vaughn Lloyd, Glasgow, Dr. 
 For my Acceptance his Draft in favor of K. 
 Slack, at 20 days' sight, £800 
 
 
 
 
 
 12 
 
 Exchange, 9^ 
 
 3875 
 
 55 
 
 72 
 
 1 
 
 3875 
 
 55 
 
 
 1 
 $ 
 
 55905 
 
 55905 
 
 72 
 
 (19) 
 
 \m 
 
44 
 46 
 
 46 
 
 33 
 
 12 
 
 1 
 1 
 
 43 
 32 
 
 BOOK-KEEPING. 
 
 Boston, 22d February, 18— 
 
 DBS. 
 
 Crs. 
 
 Shipped per Dauntless, Captain Rcid, and con- 
 signed to K. & II. Parkinson, London, 
 to be sold on joint Account of them, 
 George A. Thompson, and myself — 
 
 The remainder of Quincy, Dune & Co.'s 
 Consgt. taken at highest market value 
 
 Invoice of Flour, bought of G. T. Bates, for 
 my Check on Bunk of Commerce 
 
 Invoice of Indian Meal, bought of J. Kent, 
 for my Note at 60 days 
 
 100 Bbls. No. 1 Mackerel @ $15.00 
 
 100 « Mess Beef 19.25 
 23d 
 
 33 Consignment from Quincy, Dane & Co., Dr. 
 Per Account Sales rendered this day — 
 
 40 For Commission, 2^ per cent, on total Sales, 
 
 $22-20 
 
 41 ** Guaranty 23 per cent, on $2*220 
 28 »« Advertising 
 
 14 « Quincy, Dane & Co., Net Sales to Bal. 
 26th 
 
 Bills Receivable, Or. 
 
 For William Holmes' Note of 28th Jan. 
 at 5 mos., discounted at the Bank of the 
 Republic this day — passed to my credit 
 in Account 
 *' Discount 
 
 28th 
 
 55905 
 
 Louis J. Ripley, Dr. 
 
 For V. Lloyd's entire Consgt. subject to de- 
 36 fcenture for exportation 7683.50 
 
 Cr 
 
 For his Note at 4 mos. 
 
 Balance in Cash, $2683.50 
 
 . 28th 
 
 6 Bank of Commerce, Dr. 
 
 6 I For Jos. Wood's Note of 25th Jan. for colL 
 
 1270 00 
 
 72 
 
 3800 
 
 3565 
 1500 
 1925 
 
 00 
 
 00 
 00 
 00 
 
 55 50 
 55 50 
 11 
 
 /i>| 
 
 2090 
 
 3024 40 
 
 61 
 
 5000 
 
 35, 
 
 00 
 
 750 
 
 790i: 
 
 00 
 
 H 
 
 97 
 
 55y05 72 
 
 12000 00 
 
 2213 50 
 
 3088 
 
 75 
 
 50C0 00 
 
 750100 
 97 
 
 39 
 
 34 
 
 30 
 40 
 
 41 
 42 
 
 5 
 6 
 
 5 
 3 
 
 14 
 2 
 
 43 
 
 45 
 
 48 
 
 pa 
 
 c S 
 
 i I- 
 
 ?9017 
 
 I 
 
 (20) 
 
 DAY BOOK. 
 Boston, 1st March, 18 — 
 
 9 
 
 Drs. Crs. 
 
 Felix Zahnt, Philadelphia, Dr. 
 
 For Amount Net Sales of my Consign- 
 ment per his Account Sales received 
 this day ^ 
 
 2d 
 
 Consignment from Vaughn Lloyd, Dr. 
 
 Per Account Sales rendered this day — 
 For Commission, 5 per cent., on total 
 
 Sales, $7683.50 
 " Guaranty 22 per cent, on $5000 
 " Vaughn Lloyd, Net Sales to Balance 
 Average, due 4th June 
 3d 
 
 Bank of Commerce, Dr. 
 
 For N. Coe's Note, 6th Nov., due 9th inst., 
 deposited for collection 
 
 Cr 
 
 For Check to Firemen's Ins. Co. for Re- 
 insurance of House at Brookline 
 
 , _ 5th 
 
 Quincy, Dane & Co., Dr. 
 
 For my Bill of Sale of tVth of Ship 
 
 Sultana 
 " Check on Bank of the Republic, to 
 Balance 
 
 .6th. 
 
 R. & H. Parkinson, Manchester, CR. 
 
 For my half first cost Invoice of Mdse. 
 
 received per Eagle, to be sold on joint 
 
 Account, £1500.0.0 
 
 Exchange, 9^ 7266.66 
 — 7th 
 
 Dr. 
 
 Swift & Winn, (Cash within ten days,) 
 
 For 10 Pieces Irish Linen, 187 @ .83 $155.21 
 10 ' 
 
 ' Scotch Cambric, 123 .50 
 10 «« French Merino, 310 .52 
 
 61.50 
 161.20 
 
 $377.91 
 
 (21) 
 
 3041 
 
 384 
 125 
 
 6498 
 
 00 
 
 3041 
 
 09 
 
 250 
 
 130 
 
 3000 
 2549 
 
 3633 
 
 17i 
 00 
 
 03 
 
 00 
 
 00 
 
 33 
 
 7007 
 
 250 
 
 130 
 
 5549 
 
 3633 
 
 20 
 
 00 
 
 00 
 
 17 
 
 33 
 
 19610 70 19610170 
 
10 
 
 BOOK-KEEPING. 
 
 7 
 1 
 
 13 
 
 1 
 
 ■0^.5 
 o 
 
 19 
 26 
 
 43 
 19 
 
 Boston, 8th March, 18— 
 
 Drs. 
 
 Crs. 
 
 Albert Knowles, 
 
 For 95 Bbls. Family Flour 
 9th 
 
 Cr. 
 
 e $5 
 
 WILLIA3I Jones, 
 
 For 50 Bbls. Family Flour 
 10th 
 
 Dr. 
 
 @ $6.25 
 
 G. T. Reid, (To be settled for in a few days,) Dr. 
 
 For 16 Hhds. N. O. Sugar 
 
 Gross 
 Tare 
 
 cwt. qrs. lbs. 
 245 16 
 
 17 1 12 
 
 227 3 
 . 12th. _ 
 
 4 @ OSa 1936.21 
 
 George C. Naylor, 
 
 For my Deed of Farm in Watertown 
 Cr 
 
 Dr. 
 
 For this Amount deposited by him to my 
 
 Credit in Bank of the Republic 
 15th 
 
 31 Defree & Co., Dr. 
 
 For my Draft of this date on Felix Zahnt, 
 remitted to J. D. Bean, N. Y., on their 
 39 Account, per advice 
 
 16th 
 
 39 Felix Zahnt, Cr. 
 6 For his Note of this date, at 60 days, to 
 Balance Account 
 32 « Interest added 
 19th 
 
 48 Merchandise Co. R. & H. P., 
 46 For R. & H. Parkinson's half first cost 
 45 " their half profit 
 21 " my half profit 
 20th 
 
 Dr. 
 
 G. T. Reid, Cr. 
 
 For Sampson Snow's Note at 6 mos., from 
 6th Oct., his favor on Ace. of Mdse. sold 
 him on the 10th inst. 
 Balance in Cash, f 136.21 
 
 19610 
 475 
 
 312 
 
 6550 
 
 8750 
 
 70 
 00 
 
 50 
 
 3243 
 
 2597 
 27 
 
 3633 
 304 
 304 
 
 1800 
 
 00 
 
 00 
 
 25 
 
 33 
 17 
 17 
 
 00 
 
 19610 
 475 
 
 312 
 
 6550 
 
 8750 
 
 70 
 00 
 
 50 
 
 00 
 
 00 
 
 3243 
 
 2625 
 
 25 
 
 02 
 
 4241 
 
 1800 
 
 67 
 
 00 
 
 $1 47608 14! 47608; 14 
 
 (22) 
 
 DAY BOOK. 
 
 11 
 
 Boston, 23d March, 18— 
 
 Drs. 
 
 Crs. 
 
 47 
 
 45 
 
 Thomas Hall, dr 
 
 For my Deed of Five Lots of Land at 
 Chelsea, Nos. 2, 4, 5, 6, 7, on plan drawn 
 by G. W. Light 
 
 Cr 
 
 For his Draft on Smythe & Hall, London, 
 for £600. Exchange @ 9^. Remitted 
 the above Draft to R. & H. Parkinson, 
 on account 
 " his Note at 30 days, to balance 
 24th 
 
 $11 47608 
 
 6000 
 
 43 
 3 
 
 Bank of the Republic, Cr. 
 For Check to J. Wales in full, for rebuilding 
 house at Brookline 
 28th 
 
 32 
 
 Joseph Wood, Dk. 
 
 For Check on Bank of Commerce, to take 
 
 up his Note of 26th July 
 " 63 days' Interest 
 
 Cr 
 
 For his Note of this date at 60 days, 
 with interest added, to renew the 
 above 
 — 3l8t 
 
 Z. P. Brandt & Co., Cronstadt, 
 
 Cr. 
 
 For 20 Bales Rus. Leather, 100 sks. each 3862S7 
 Charges. 
 
 For Entry & Customs so Shipping, &c.3« 66.00 
 
 27.00 
 21.56 
 19.56 
 69.34 
 89.34 
 
 Mats & Weighing, 20 ks. per pood 
 Bracking 9-78 Cartages Postage 2.78 
 Brokerage & Commissions 
 Del Credere « Bill Brok'ge & Stamps 21-34 
 Consular Certif.a-er int. on 3862.47 86.6T 
 75 cts. = 1 silver rouble. 4155,27 
 
 — Dr 
 
 For Check on Bank of Commerce for their 
 Draft at sight 
 
 14 
 
 00 
 
 2000 
 
 00 
 
 47608 
 
 750 
 
 7 
 
 00 
 88 
 
 3116 
 
 45 
 
 58482147 
 
 14 
 
 2904 00 
 2096 00 
 
 2000 00 
 
 757 88 
 
 3116 45 
 
 58482 47 
 
 hJ!??,?""* ffiust stop here nntil the whole 1« posted, and a Trial B»lanc« for tbo montb taken. 
 He may then proceed to make the closing entries, as foUows : - 
 
 (23) 
 
12 
 
 BOOK-KEEPING. 
 Boatan, 3l<< Marc h, 1»- 
 
 ESTATE OF THE LATE EdwaRD EvANS, CR. 
 
 For Dividend on Exchange Bank Stock 
 " Dividend on Western R. K. Stock 
 
 Dr 
 
 For Insurance on House at Waltham $195 
 
 Less Kent received jg^ 
 
 !>!»• Crs. 
 
 House at Waltham 
 Exchange Bank Stock 
 Western R. R. stock 
 John Todd's Note due 23d June! 
 31 St. __^^ 
 
 £ - -^ S K a o 
 -■? 23 t « 2 
 t. .- «-■ tP s o 
 o •c^vs o 
 
 ■" c s r •• -^ • 
 
 300 
 120 
 
 00 
 
 00 420 
 
 00 
 
 45 00 I 45 00 
 9500|00| 
 7500 00 I 
 
 16 
 
 Schedule of Assets, to be credited, pro /orma, 
 to their respective accounts, to balance the 
 books — 
 
 Merchandise per Stock Ace. taken this day 
 
 Ship Sultana, my i^th, appraised at 
 
 Real Estate at Brookline, « k 
 
 Roal Estate at Hiolsea, 3 lots, «« <c 
 
 Cash, per Cash Book 
 
 Bank of Commerce, on deposit 
 
 Bank of the Republic, on deposit 
 
 Bills Receivable, per Bill Book 
 
 Fitchburg R. R. stock 
 
 Life Insurance Policy, X. E. M. L. Ins. Co 
 
 Shipment to St. Thomas 
 
 Shipment to London 
 
 $82,762.76 
 
 Schedule Of Debts, to be debited, pro/om«, to 
 
 their respective accounts, to balance the 
 
 books — 
 
 Bills Payable, per Bill Book 
 
 Suspense 
 
 Vaughn Lloyd, on book account 
 
 R- & H. Parkinson, " <« 
 
 23,894.31 
 
 68,868.45 
 
 3000 
 1000 
 
 00 
 
 00 i 2100e^ 
 
 6700 00 
 
 11000 00 
 
 10500 00 
 
 3000 00 
 
 260 21 
 3906 25 
 6725,23 
 17463!57 
 400o|oO 
 8000 00 
 8187 1 50 
 4020 00 
 
 12625 00 
 8000 00 
 
 2622148' 
 &I683' 
 
 George X. Comer, Net Capital 
 
 $82,762.76 
 
 58868 
 
 45 
 
 •,,104227J7^'|1042277« 
 
 21 
 1 
 2 
 26 
 27 
 34 
 40 
 41 
 47 
 21 
 3 
 28 
 32 
 16 
 
 DAY BOOK. 
 
 Boston, 3l8t March, IS- 
 
 IS 
 
 Drs. 
 
 Crs. 
 
 « 
 
 (( 
 
 (( 
 (( 
 
 (C 
 
 (( 
 <( 
 (( 
 
 Profit and Loss, 
 
 For Gain on 3Ierchandise 
 " " " Ship Sultana 
 
 " Farm in Watertown 
 " Fitchburg R. R. Stock 
 " Shipt. to Philadelphia 
 " Commission 
 " Guaranty 
 
 " Real Estate at Chelsea 
 Dr.__ 
 
 For Loss on Real Estate at Brookline 
 " Expense 
 " Interest 
 " George N. Comer's Net Gain to close 
 
 512 00! 
 160 00! 
 
 492 88 
 729 67 
 325 '50 
 
 1935 
 
 00 
 
 385 00 
 1769 1 00 
 
 41191 
 8868 45 
 
 11386 
 
 18 
 
 126678 
 
 30 
 
 2195 
 
 91 
 
 8868 45 
 
 126678 30 
 
 v-»; 
 
 (24) 
 

 JL 
 
 I' 
 
 GEORGE N. COMER'S 
 
 CASH BOOK, 
 
 OB 
 
 BOOK OF ORIGINAL ENTRY, 
 
 FOR ALL 
 
 I 
 
 CASH TRANSACTIONS. 
 
 ^.t 
 
 («7) 
 
18— 
 
 Jantuiry. 
 
 BOOK-KEEPING. 
 
 Cash Received. 
 
 ^«®' Date 
 Page. ;^^«^ 
 
 1 
 
 2 
 
 3 
 
 5 
 
 6 
 
 8 
 
 13 
 
 16 
 
 19 
 
 22 
 
 24 
 
 26 
 
 26 
 
 27 
 
 29 
 
 8 
 
 10 
 23 
 
 16 
 
 1 
 4 
 
 18— 
 
 2 
 
 24 
 
 8 
 
 19 
 
 3 
 5 
 6 
 
 Amouut on hand, per schedule 
 Sales of Merchandise 
 Albert Kuowlea, on account 
 Sales of Merchandise 
 Samuel T. Gordon, on account 
 Sales of Merchandise 
 
 do. do. 
 
 Robert Yanevar, on account 
 Sales of Merchandise 
 
 do. do. 
 
 do. do. 
 
 KoUins Bros. & Co., in full ^ 
 
 Estate of the late Edward Evans 
 Sales of Mercliandise 
 G. N. Comer, per Ex'rs C. Newhall 
 
 Merchandise 
 
 Miscellaneous 
 
 Total 
 
 Mdse. 
 
 Miscella- 
 neous. 
 
 100 OOj 
 200 00 
 
 200 
 300 
 
 175 
 
 00 
 00 
 
 00 
 
 215 00 
 
 563 
 
 45 
 
 430 50 
 
 500 
 250 
 
 387 
 
 478 
 1000 
 
 2000 
 
 2183 95 
 
 4615 00 
 
 00 
 00 
 
 00 
 
 00 
 00| 
 
 00 
 
 Balance. 
 
 February. 
 Balance from last month 
 Captain King, net Freight of Ship 
 
 Sultana 
 John Holmes, Rent of House at Wal- 
 
 tham 
 Robert Vanevar, in full 
 Sales of Merchandise 
 George C. Naylor, on account y 
 
 516 
 
 87 
 
 2500 
 
 150 
 
 00 
 
 W 
 
 300 00 
 
 500 
 
 Amounts carried forward 
 
 $ 51687: 3450'00; 
 
 00 
 
 350 00 
 
 6798 
 
 95 
 
 7148 
 
 95 
 
 457 
 
 08 
 
 457 08 
 
 NoT«. — See fac-simlle of tbOM pages, as vrltten 
 (28) 
 
 i 
 
 i 
 
 CASH BOOK. 
 
 2 
 
 18- 
 
 January. 
 
 Cash Paid. 
 
 Ledger 
 Page. 
 
 Date 
 
 15 
 13 
 21 
 
 5 
 16 
 
 28 
 
 1 
 
 3 
 
 
 
 8 
 
 15 
 
 17 
 
 20 
 
 22 
 24 
 
 26 
 
 27 
 
 29 
 31 
 
 18— 
 
 5 
 21 
 
 30 
 
 1 
 1 
 
 2 
 
 5 
 
 J. Smith, Fitting up Store, &c. ^ 
 
 Balance on hand, $400.00 
 Bank of Commerce, deposited 
 
 Balance on hand, $;j50.00 
 Soames & Smythe, iu full for Mdse. 
 
 Balance on hand, $246.79 
 Cartage, Porterage, and Wharfage, on 
 31ereliaudise per Concordia 
 
 Balance on hand, $515.79 
 T. Mason, Repairs at Brookline 
 
 Balance on hand, $777.79 
 Read & Xye, Merchandise per Invoice 
 
 Balance on hand, $439.12 
 
 Balance on hand, $054.12 
 Daniel Davis, in full 
 
 Balance on hand, $207.57 
 William Jones, on account 
 
 Balance on hand, $245.57 
 Peros & Co., Premium for Exchange 
 on Berbice 
 
 Balance on hand, $057.08 
 Bank of Commerce, deposited 
 
 Balance on hand, $657.08 
 G. N. Comer, Personal Expenses 
 
 Miscellaneous 
 
 Expense 
 
 Merchandise 
 
 Total 
 
 Balance to next month 
 
 February. 
 Sidney Sloan, clerk, in full to date 
 Bank of Commerce, deposited 
 
 Balance on hand, $1,332.08 
 F. Lincoln, for Sextant and Telescope 
 
 presented to Captain King 
 H. Tucker, Stationery 
 
 Balance on hand, $2122.95 
 Drayage and Labor on Consignment 
 from Defree & Co., New Orleans 
 
 Amounts carried forward 
 
 out, folded up, and bound, in first part of this book. 
 3* (29) 
 
 Mdse. ' { Expense. 
 
 Miscella- 
 neous. 
 
 803 
 
 31 
 
 513 
 
 847 
 
 21 
 
 00 
 
 67 
 
 550,00 
 
 88 
 
 550 
 
 125 
 
 26 
 
 151 
 
 00 
 
 00 
 
 00! 
 
 500 00 
 
 125 
 
 950 
 1500 
 
 18 
 
 2000 
 200 
 
 00 
 
 5293 
 550 
 
 847 
 
 6691 
 457 
 
 7148 
 
 00 
 00 
 
 99 
 
 00 
 00 
 
 99 
 00 
 
 87 
 08 
 
 95 
 
 1500 
 
 150 
 
 1656 
 
 00 
 00 
 
 25 
 25 
 
BOOK-KEEPING. 
 
 CASH BOOK. 
 
 1»- 
 
 February. 
 
 Cash Received. 
 
 Ledger 
 Page. 
 
 Date 
 
 
 6 
 
 26 
 
 9 
 
 
 10 
 
 
 12 
 
 
 13 
 
 10 
 
 17 
 
 
 20 
 
 46 
 
 22 
 
 43 
 
 22 
 
 
 26 
 
 36 
 
 28 
 
 
 28 
 
 5 
 
 28 
 
 Amounts brought forward $ 
 
 Andrew IJarnos, Kent of Farm in 
 
 Watertown 
 Sales of Mercliaudise 
 M. Lovcring, in full for Merchandise 
 Sales of Merchandise 
 Rollins Bros. & Co., in full 
 Sales of Merchandise 
 George A. Thompson, on account 
 Bank of the Republic, per Check 
 Sales of Merchandise 
 Louis J. Ripley, in full for V. Lloyd's 
 
 Consignment 
 Sales of Merchandise 
 Bank of Commerce, per Check 
 
 Merchandise 
 
 Miscellaneous 
 
 Total 
 
 Mdae. 
 
 51C8 
 
 Miscella- 
 neoui. 
 
 2896 
 
 323 
 432 
 634 
 
 416 
 
 223 
 
 327 
 
 00 
 29 
 00 
 
 00 
 
 00 
 
 00 
 
 16 
 
 3150 
 
 131 
 
 3673 
 
 3000 
 2300 
 
 2683 
 4014 
 
 Balance. 
 
 19489 
 
 00 
 
 00 
 
 00 
 
 00 
 00 
 
 30 
 12 
 
 62 
 
 457 08 
 
 22385 
 
 78 
 
 22842 
 
 1&- 
 
 
 February. Cash Paid. 
 
 
 
 
 
 
 
 Ledger 
 Page. 
 
 Date 
 6 
 
 m 
 
 Amounts brought forward $ 
 
 Mdse. 
 
 Expense. 
 
 Miscella- 
 neous. 
 
 
 
 
 151 
 
 00 
 
 1656 25 
 
 12 
 
 8 
 
 My Acceptance Alfred Arnot's Draft, 
 at Traders' Bank 
 
 Balance on hand, $110.70 
 
 
 
 
 
 2500 
 
 00 
 
 33 
 
 9 
 
 Drayage, &c., on Consignment from 
 Quincy, Dane & Co. 
 
 Balance on hand, $247.20 
 
 
 
 
 
 6 
 
 50 
 
 26 
 
 13 
 
 W. Wood, carpenter, Repairs at Farm 
 in Watertown 
 
 Balance on hand, $829.49 
 
 
 
 
 
 175 
 
 00 
 
 34 
 
 14 
 
 Freight, &c., on Shipt. to Philadelphia 
 Balance on hand, $058.49 
 
 
 
 
 
 171 
 
 00 
 
 3 
 
 16 
 
 J. Wales, for Rebuilding House at 
 Brookline 
 
 Balance on hand, $812.49 
 
 
 
 
 
 500 
 
 00 
 
 5 
 
 17 
 
 Bank of Commerce, deposited 
 
 Balsmce on hand, $2487.49 
 
 
 
 
 
 2000 
 
 00 
 
 43 
 
 19 
 20 
 
 Bank of the Republic, deposited to 
 open account 
 
 Balance on hand, $487.49 
 Balance on hand, $903.49 
 
 
 
 
 
 2000 
 
 00 
 
 47 
 
 22 
 
 John Fenno, for Deed of Lot of Land 
 at Chelsea 
 
 Balance on hand, $403.49 
 
 
 
 
 
 6000 
 
 00 
 
 36 
 
 26 
 27 
 
 Labor, &c., on Consignment from 
 Vaughn Lloyd 
 
 Balance on hand, $002.19 
 Bullard & Co., for Wood and Coal 
 
 Balance on hand, $528.19 
 
 
 
 74 
 
 00 
 
 26 
 
 30 
 
 16 
 
 28 
 
 G. N. Comer, Personal Expenses 
 
 
 
 
 
 200 
 
 00 
 
 43 
 
 28 
 28 
 
 Bank of the Republic, deposited 
 Sweet & Brown, for J. Chadwick's 
 
 Draft at sight, for Invoice of Mdse. 
 
 from Manchester, received per Ship 
 
 
 
 
 
 3000 
 
 00 
 
 
 
 Caledonia, £835 11 3. Ex. @ $4.84 
 Miscellaneous 
 
 4044 
 
 12 
 
 
 
 
 
 
 1 
 
 18235 
 
 05 
 
 28 
 
 
 Expense 
 
 
 .^ 
 
 225 
 
 00 
 
 225 
 
 00 
 
 1 
 
 
 Merchandise 
 Total 
 
 4044 
 
 12 
 
 
 
 4044 
 
 12 
 
 4 
 
 22504 
 
 17 
 
 
 
 Balance to next month 
 
 
 — 
 
 
 $ 
 
 338 
 
 69 
 
 
 
 22842 
 
 86 
 
 (30) 
 
 (31) 
 
BOOK-KEEPING. 
 
 CASH BOOK. 
 
 6 
 
 18- 
 
 
 March. Cash Received. 
 
 
 
 
 
 
 
 Ledger 
 Page. 
 
 Date 
 1 
 
 Balance from last month $ 
 
 wMdse. 
 
 1 Miscella- 
 j neous. 
 
 Balance. 
 
 
 
 
 
 
 338,09 
 
 
 2 
 
 Sales of Morchaudise 
 
 350 
 
 00 
 
 
 
 
 
 22 
 
 3 
 
 Exchange Bank Stock, dividend 
 
 
 
 3oo!oo 
 
 
 
 25 
 
 3 
 
 Western 11. K. Stock, do. 
 
 
 
 120 
 
 00 
 
 
 
 27 
 
 3 
 
 Fitchburg K. K. Stock, do. 
 
 
 
 IfiO 
 
 00 
 
 
 
 20 
 
 5 
 6 
 
 Oh vera & Co., in full 
 Sales of 3Ierehandlse 
 
 417 
 
 00 
 
 694 
 
 20 
 
 
 
 9 
 
 7 
 
 8 
 
 10 
 
 Samuel T. Gordon, in full 
 Sales of Merchandise 
 do. do. 
 
 321 
 657 
 
 00 
 
 300 
 
 00 
 
 
 
 46 
 
 1:.' 
 15 
 
 George A. Thompson, in full 
 Sales of Merchandise 
 
 262 
 
 00 
 
 1020 
 
 00 
 
 
 
 43 
 
 16 
 
 17 
 
 Bank of the Republic, per Check 
 Swift & Winn, for Merchandise sold 
 7th instant 
 
 377 
 
 91 
 
 3000 
 
 00 
 
 
 
 48 
 
 19 
 20 
 
 24 
 
 28 
 
 F. Griflath, net proceeds Mdse. Co. 
 R. * H. P., sold by him at auction 
 
 G. T. Reid, in full for Merchandise 
 sold 10th instant 
 
 Sales of Merchandise 
 do. do. 
 
 136 
 465 
 537 
 
 21 
 00 
 00 
 
 8250 
 
 00 
 
 
 
 49 
 
 31 
 
 P. C. Jenks, returned 
 
 
 
 2500 
 
 00 
 
 
 
 32 
 
 31 
 
 do. Interest 
 
 
 
 6 
 
 00 
 
 
 
 1 
 
 
 Merchandise 
 Miscellaneous 
 
 3423 
 
 12 
 
 
 20 
 
 
 
 
 16249 
 
 
 4 
 
 
 Total 
 
 
 
 
 
 19672 
 
 32 
 
 
 
 
 
 
 
 $ 
 
 20011' 
 
 ! 
 
 01 
 
 : 
 
 i 
 
 (32) 
 
 IS- 
 
 
 March. Cash Paid. 
 
 
 
 
 
 
 
 Ledger ^.^ 
 Page. O^tfi 
 
 Freight, &c., on Merchandise from 
 
 Mdse. 
 
 Expense. 
 
 Miscella- 
 neous. 
 
 48 2 
 
 
 
 
 
 
 
 
 
 Manchester Co. R. & H. P. $ 
 
 
 
 . 
 
 
 375 
 
 00 
 
 
 
 Balance on hand, $313.09 
 
 
 
 
 
 
 
 
 4 
 
 Advertising— Post, $50, Transcript,$50 
 do. Journal 
 
 Balance on hand, $743.69 
 
 
 
 100 
 50 
 
 00 
 00 
 
 
 
 
 6 
 
 Cook & Stowe, Mdse. per Invoice 
 Balance on hand, $254.89 
 
 1500 
 
 00 
 
 
 
 
 
 
 10 
 
 Randall & Evans, Merchandise per 
 Invoice 
 
 Balance on hand, $232.89 
 
 1200 
 
 00 
 
 
 
 
 
 47 
 
 12 
 
 George W. Light, for surveying and 
 laying out land at Chelsea into 8 
 lots, per plan 
 
 Balance on hand, $1187.89 
 
 
 
 
 
 65 
 
 00 
 
 12 
 
 16 
 17 
 
 My Acceptance Vaughn Lloyd's Draft 
 at Atlas Bank 
 
 Balance on hand, $574.34 
 Balance on hand, $952.25 
 
 
 
 
 
 3875 
 
 55 
 
 5 
 
 19 
 
 Bank of Commerce, deposited 
 
 
 
 
 
 4000 
 
 00 
 
 49 
 
 19 
 
 20 
 
 24 
 24 
 
 P. C. Jenks, lent on call 
 
 Balance on hand, $2702.25 
 Gas Company, to date 
 
 Balance on hand, $2803.46 
 Cleaning Store, &c. 
 Postage, to date 
 
 Balance on hand, $3243.21 
 
 
 
 35 
 
 15 
 10 
 
 00 
 
 00 
 25 
 
 2500 
 
 00 
 
 12 
 
 28 
 
 My Note to Joseph Woods, at Colum- 
 bian Bank 
 
 Balance on hand, $3030.21 
 
 
 
 
 
 750 
 
 00 
 
 16 
 
 30 
 
 31 
 31 
 
 G. N. Comer, Personal Expenses 
 
 Balance on hand, $2^30.21 . 
 Sidney Sloan, clerk, in full to date 
 D. S. Green, Rent of Store to date 
 
 
 
 250 
 450 
 
 00 
 00 
 
 200 
 
 00 
 
 5 
 
 31 
 
 Bank of Commerce, deposited 
 
 
 
 
 
 3000 
 
 00 
 
 23 
 
 31 
 
 Heirs of E. Evans, by order of court 
 
 Miscellaneous 
 Expense 
 
 
 
 
 26 
 
 1375 
 
 00 
 
 
 16140 
 910 
 
 55 
 
 28 
 
 910 
 
 25 
 
 1 
 
 
 Merchandise 
 Total 
 
 2700 
 
 00 
 
 
 
 2700 
 
 00 
 
 4 
 
 19750 
 
 80 
 
 
 
 Balance to next month 
 
 
 — 
 
 
 1 
 
 260 
 
 21 
 
 
 
 20011 
 
 01 
 
 (38) 
 
BOOK-KEEPING. 
 
 THE LEDGER. 
 
 In the Ledger is contained an abstract of all the entries made in the other 
 
 These entries are collected and arran^jed in the order of their dates, under 
 the names of the various accounts to which they belong. 
 The copying of these entries is termed 
 
 POSTING. 
 
 The posting of the Ledger is conducted in the following manner : — 
 
 Write, on the top of a page, on the Ledger, the abbreviation Dr. on the left 
 hand side, and Cr. on the right ; then write, on the same line between the 
 words Dr. and Cr., the name and address of the person or firm with whom the 
 account is to be opened , then turn to the Index, and under its appropriate 
 alphabetical letter write the name, (the surname being first, as Naylor, George 
 C ,) with the number of the page at which it has been opened ; (this is a pro- 
 tection ac^ainst opening two accounts of the same name ;) next write below 
 the name on the head of the page, on the Dr. or Cr. side, as the case may be, 
 the date, the page of the book from which the entry is taken, and the amount ; 
 and finally, mark the number of the page to which it has been posted upon the 
 book from whence it was taken, to show that it is so posted. 
 
 The whole object and design of the centre column, or space between the 
 date and page-columns, is to enable the book-keeper to introduce a word or 
 two, such as wUl, in a measure, explain the entry, and save the necessity of 
 resorting to the other books. This is a great saving of time. 
 
 A merchant ought to be able to take his Ledger into his private office, or by 
 his own fireside, if needful, and read it intelUgently without being obliged to 
 have recourse to the other boqks for elucidation. 
 
 A Ledger is a condensed epitome of all the transactions from all the other 
 books ; but if it is too excessively condensed it loses its independent character, 
 and becomes a mere index to the other books. 
 
 The fundamental principle at the basis of all book-keeping is, that — 
 
 For every dollar and every cent which is placed to the debit of any account, 
 or accounts, there must be a credit, or credits, to some account, or accounts, 
 for the like amount of dollars and cents. 
 
 No person can ever be in debit on my books unless that person is absolutely 
 
 indebted to me. 
 No person can ever be in credit on my books unless I am absolutely m- 
 
 debted to that person. 
 
 Of course I mean the balance of debit or credit. Illustration. — If a person 
 buys '^oods of me to the amount of $.500, and pays me $300 on account, then 
 he is debited 8500, and credited $300, leaving him "in debit $200 "-the 
 amount he owes me. t 
 
 (34) 
 
 POSTING. 
 
 I now proceed to explain the entries on the Day Book and Cash Book) and 
 the Posting to the Ledger of those entries. 
 
 Day. 
 
 Isf January, 18— 
 SCHEDULE OF ASSETS. 
 
 That is, a list or inventory of the various kinds of property and their re- 
 spective amounts or value, with which I commence business on these books. 
 
 The account of Merchandise represents the storeroom containing that 
 kind of property, and is charged, or debited, with the amount which is put 
 in, and credited (for so much abstracted) with the amount which is taken out. 
 The Stock Book contains the particulars in detail. — 
 
 The account of the Ship Sultana represents the amount which she hat 
 cost, or is valued at, and will be charged, or debited, for all outlays upon her, 
 and credited for the freight money, &c., which she earns. 
 
 The account of Real Estate at Brookline represents the value of that 
 property, and will be debited with all outlays, and be credited with the in- 
 come, rent, &c., received from it. 
 
 The account of Cash represents the amount of cash in the drawer, or safe, 
 and will be debited for all amounts of cash received, and credited for all 
 amounts of cash paid. 
 
 The account of Bank of Commerce shows the amount of money on de- 
 posit, and will be debited for all sums deposited, and credited for all sums 
 withdrawn. 
 
 Note. — It has been a common custom to keep the cash on hand and the 
 cash in the bank iu one account, under the general head of " Cash ; " but I 
 have ever found that cash in some one else's possession was quite a diffl'rent 
 thing from cash in my own. The money owing to nie by a bank is in pre- 
 cisely the same position as money owing to me by an intlividual, and my 
 check upon the bank is precisely the same as my order upon the individual 
 would be. In either case I expect it to be paid, or should not make it. When 
 I pay a person by check on the bank, if I should enter it as cash paid, it 
 would not be the fact. I merely gave a written order for the party to obtain 
 the cash on presentation at the bank. If from any cause tlie check should not 
 be presented, the bank would owe me just as much cash as though the check 
 had not been written ; but if I paid the actual cash, the case would be quite 
 different. No good accountant would ever think of keeping these accounts 
 under the one head of Cash. It would be just as reasonable to keep the ac- 
 counts of all persons indebted to him under that head. 
 
 The account of Bills Eeceivable represents the amount on hand of the 
 written promises to pay, not yet due, and will be debited with the amount of 
 all written promises to pay which may be hereafter received, and credited as 
 those written promises are delivered up. 
 
 The Bill Book contains the particulars in detail. I use the terms " Bills 
 Receivable" and " Bills Payable," because they are known and used all over 
 the mercantile world ; whereas the terms Notes Receivable and Payable are 
 mere localisms, and may be used or not, according to the position and taste 
 of the parties. 
 
 The account of Albert Knowles represents that he is indebted on former 
 account for the amount charged, and will be credited for any sums received 
 of him. 
 
 (36) 
 
BOOK-KEEPING. 
 
 POSTING. 
 
 The accounts of Robert Vanevar, Samuel T. Gordon, Rollins Bro's & Co., 
 and Henry Underwood, are in precisely the same position as that of Albert 
 Knowles. 
 
 So that there are eleven different accounts debited with various sums, in the 
 whole amounting to $4'.),.i50.00. We must now look for the credit, or credits, 
 corresponding in amount. 
 
 SCHEDULE OF DEBTS. 
 
 That is, a list or inventory of the debts I owe at the commencement of busi- 
 ness on these books, including the net capital invested by me in the business. 
 
 The account of Bills Payable represents the amount of written promises 
 to pay which have been issued, not yet due, and will be credited for any other 
 written promises to pay which may be hereafter issued, and will be debited as 
 Ihose written promises are taken up. 
 
 The account of William Jones represents that I am indebted to him on 
 former account for the amount credited, and will be debited for any payments 
 made to Iiira. 
 
 The accounts of Quincy, Dane & Co., and Daniel Davis, are in precisely 
 ^e same position as that of William Jones. • 
 
 The account of George N. Comer represents that the total amount of his 
 assets exceeds the total amount of his debts by $38,000.00, and that that sum 
 is the net capital investetl by him in this business, and is owing to him from 
 these books. If he should come into possession of other property, and put it 
 into this business, his account would be credited for the amount so put in, and 
 be debited for any amounts withdrawn by him. 
 
 So that there are five different accounts credited with various sums, in the 
 whole amounting to $49,250.00, tning the same amount as the first eleven 
 accounts were debited with — giving us the double entry of an equal amount 
 of debit and credit. 
 
 Cash. The amount of cash on hand is entered in the Cash Book, in order 
 that all cash transactions may appear on that book. Having been posted from 
 the schedule in the Day, it is not, of course, posted again, which is the reason 
 for its being entered in the outer column in the Cash. 
 
 Day. 
 
 2rf January. 
 
 "William Jones ia debtor for merchandise sold to him. 
 
 An account was previously opened with him, which is debited with the 
 amount, and the figure representing the page to which it is posted entered on 
 the margin of the Day. The merchandise account, however, is not credited at 
 once with the amount of the merchandise delivered to him, as it would occa- 
 sion an unnecessary number of entries if each sale was to be entered at the 
 time. Instead of this we leave tlie posting of the merchandise account until 
 the end of the month, when all the merchandise sold during the month is 
 collected together in one amount and posted in one item. For instance, if 
 during the month we sell, on credit, to twenty different persons, merchandise 
 to the amount of $10,000, and each of those persons has been properly 
 debited for his respective amount, and at the end of the month the mer- 
 chandise account is credited for the whole $10,000 in one item, the total 
 amount of the twenty debits only equals the one credit. 
 
 See method of collecting these items at p. 41. 
 
 See also article " Sales Book," in Appendix. 
 
 (36) 
 
 Cash. 2d January. 
 
 Received for Sales of Merchandise, $100. Here merchandise to the amount 
 of $100 was sold, and cash received for it. For the reasons above given, 
 neither of these items is posted until the end of the month. 
 
 Day. 3d January. 
 
 Case, Wilson »fe Co. purchased certain merchandise and paid for it by 
 giving their note. Another person's note is always receivable, our own 
 always payable. That is the distinction between Bills Receivable and Bills 
 Payable. Having received their note, Bills Receivable will be debited, and 
 Merchandise credited ; but for the reasons given in the explanations of the 2d 
 instant neither of these items is posted until the end of the month. No 
 account is opened on the Ledger with Case, Wilson & Co. for the reason that 
 tlie transaction with them is settled. 
 
 Cash. A. Knowles is at once credited for the amount received of him, and 
 Cash will be debited at the end of the month in the total amount received 
 during the month. 
 
 J. Smith, Fitting up Store, &c. As in all business establishments there are 
 numerous items of expense, a column in the Cash is reserved for that head. 
 All items of cash paid out for expenses are entered as they occur, and carried 
 into that column. An account is opened in the Ledger with Expense, which 
 will be debited at the end of the month with the total amount paid out on the 
 Expense column, and Cash will be credited at the end of the mouth in the 
 total amount paid during the month. 
 
 Balance on hand. The object of this is to ascertain, at the end of each busi- 
 ness day, whether the amount of cash in the drawer corresponds with the 
 balance shown on the Cash Book. 
 
 Day. 5th January. 
 
 Quincy, Dane & Co. are at once credited with the amount of merchandise 
 purchased of them and ]Merchandise will be debited at the end of the month in 
 the total amount purchased during the month. 
 
 Cash. Sales of Merchandise. See entry of 2d instant. As all the entries 
 under this head are precisely the same, it would be superfluous to repeat ex- 
 planations of each of them. 
 
 Cash. Gth January. 
 
 Samuel T. Gordon, on account. See entry of 3d instant. 
 
 As all the entries of amounts received or paid on account, or in full, are 
 precisely alike, it is unnecessary to repeat explanations of each of them. 
 
 Bank of Commerce, Deposited. The Bank is at once debited for the amount 
 deposited, and Cash will be credited at the end of the month. 
 
 Day. 8th January. 
 
 Here certain merchandise amounting to $853.21 was purchased of Soames, 
 Smythe & Co., and paid for by giving my note for $550, and Cash $303.21. 
 Merchandise will be debited $550, and Bills Payable credited $550. (both at the 
 end of the month,) because I received only $550 worth of merchandise for my 
 note of $550. In posting from the Cash Book, Merchandise will be debited 
 $;303.21 and Cash credited $303.21, (both at the end of the month,) because I 
 received $303.21 worth of merchandise for ray $303.21 of cash. 
 
 No account is opened with Soames, Smythe & Co. on the Ledger for the 
 reason that the transaction with them is ended. The object of making such 
 * (37) 
 
 ♦ f- 
 
 |i 
 
 
 I 
 
 .H 
 
BOOK-KEEPING. 
 
 entries on the books, is to show, on one hand, how the merchant becomes pos- 
 sessed of certain property, and on the other, how he dispossesses himself Of* 
 property. In this case he received merchandise in exchange for his bill pay- 
 able and cash, which are all the facts necessary to be permanently retained. 
 
 Day. loth January. 
 
 An account is opened with A. Arnot, which is at once credited for the 
 amount of merchandise received pursuant to previous order, and Merchandise 
 will be debited at the end of the month in the total amount of merchandise 
 received during the month. 
 
 Day. 12th January. 
 
 Bank of Commerce is at once credited ; and Merchandise will be debited at 
 the end of the month, for the reason that it cost $lH5.oO in freight and duties 
 to import the merchandise from Berbice. 
 
 Day. mh January. 
 
 William Smithson is at once debited, and Merchandise credited in the total 
 at the end of the month. 
 
 Cash. loth January. 
 
 This is an additional cost of the merchandise imported from Berbice. Mer- 
 chandise will be debited, and Cash credited, both at the end of the month in the 
 totals. Freight, duties, brokerage, wharfage, labor, insurance, porterage, in 
 fact every item expended upon merchandise previously to its coming into our 
 possession, is a cost of that merchandise. 
 
 Day. lC4h January. 
 
 Having accepted, (see Appendix,) that is, agreed to pay A. Amot's draft 
 npon me in 20 days, which means 23 days, allovving for the days of grace, (see 
 Appendix,) A. Amot is at once debited, and Bills Payable credited at the end 
 of the month. 
 
 Cash. 17th January. 
 
 T. Mason, Kepairs at Brooklinc. The Estate at Brookline is at once debited 
 for the amount, and Cash will be credited at the end of the month. 
 
 Day. i8th January. 
 
 An account is opened with George C. Naylor, which is debited with the 
 amount of my order on Olivcra <t Co., with wliom an account is also opened, 
 which will be credited for that amount. At the first glance, a transaction like 
 this seems to be of no benefit to rac. Naylor becomes debtor to me, and I 
 become debtor to Olivera & Co. If, however, there should be an arrangement 
 betAveeu O. & Co. and me, by which they agree to buy of me my mer- 
 chandise to the same amount of any merchandise of theirs which I can sell, 
 then my order on them to Naylor is, in fact, the same as a sale of my own 
 goods to Naylor, which could not have been effected directly, as he wanted 
 goods such as O. & Co. dealt in, and not what I dealt in. 
 
 Day. 20^^ Jannary. 
 
 Elliott, who held my note for S^'W), which was one of the bills payable 
 owing by me at the commencement of this business, (see Bill Book,) delivered 
 up that note to me, in exchange for which I delivered to him merchandise 
 
 (38) 
 
 POSTING. 
 
 tl290, and another note for $710 ; consequently, Bills Payable will be debited 
 $2000, and Merchandise credited $1290, and Bills Payable credited $710, all at 
 the end of the month in the totals. No account is opened on the Ledger with 
 Elliott, the transaction with him being ended. 
 
 Day. 22(f January. 
 
 Bank of Commerce is at once debited, and Bills Receivable credited in the 
 total at the end of the month. It is not customary to debit a bank for a note 
 deposited for collection until it is paid. Still it is necessary to make some 
 record of the fact, and I do it here merely for convenience. Where the bill 
 transactions are numerous, a separate book might be kept for this purpose, 
 making the record at the time of all notes deposited, and debiting the Bank 
 when the proceeds have been by it received. 
 
 In the second part of the entry, the Bank is credited and Expense is debited, 
 the insurance of merchandise in store being one of the expenses of doing busi- 
 ness, the same as rent, fuel, clerk-hire, &c. 
 
 Day. 23d January. 
 
 H. Underwood, being unable to pay in full, makes a composition with his 
 creditors of 50 per cent., payable in 8 months by the note of B. Dodd, for which 
 Bills Keceivable will be debited at the end of the month. For the other half, 
 or 50 per cent., which is abated or lost. Profit and Loss will be debited, and 
 Underwood will be credited for the whole amount of his indebtedness to bal- 
 ance his account. 
 
 The object of opening a Profit and Loss account is to save the faecessity of 
 opening two accounts, one with Profit and one with Loss ; the debtor side 
 of the Loss or Profit and Loss account showing all the losses, the credit 
 Bide of the Profit or Profit and Loss account showing all the gains. 
 
 Day. 24f^ January. 
 
 The Estate at Brookline is at once debited, and Bills Payable will be credited 
 in the total at the end of the month. The reason why " insurance " in this 
 case is charged to the Estate, and not to Expense, is because a separate account 
 is kept wath this Estate for the purpose of showing at a glance all outlays upon 
 it and all income from it. The design of the Expense account is solely to 
 show the amount of expenses incurred in the general business of buymg 
 and selling merchandise, and is not intended to include outside and distinct 
 properties. 
 Day. 25<fe January. 
 
 Bills Receivable are debited and Bills Payable credited each in the totals at 
 the end of the month. 
 
 This is one of those entries which appear to be of no benefit to me, and m 
 fact it is not, directly, whatever it may be indirectly. It is one of those trans- 
 actions which should be avoided by all good business men ; but as such things 
 are by no means uncommon, I have introduced the entry for the purpose of 
 showing how it should be treated, m case any one should be so unfortunate as 
 to have to make such a record. 
 
 Day. 2Gth January. 
 
 Accounts are opened with House and Land at Waltham, Exchange Bank 
 Stock, and Western R. R. Stock, and each debited for its respective amount. 
 Bills Receivable will be debited at the end of the month for Todd's note. An 
 
 (39) 
 
 ^i* 
 
 i. 
 
 m 
 
 
BOOK-KEEPrXG. 
 
 account is opened with Estate of the late Edward Evans, which is credited for 
 the whole amount of property received in trust. 
 
 Cash. Estate of the late Edward Evans will be at once credited for the 
 $1000, and Cash will bo debited, at the end of the month, for that amount of 
 trust property received in cash. 
 
 ^^^' 27th January. 
 
 A. Amot is debited, and Bank of Commerce credited. So lon^ as we have 
 an account with only one bank, it is not necessary to specify the bank every 
 time we draw a check j when we have accounts with more than one bank, it 
 will be necessary. 
 
 Cash. The two per cent, premium which T pay for Peros & Co.'s draft on 
 Berbice is a loss ; for had Amot drawn upon me for the whole amount, instead 
 of fcr a part, (see entry of Kith inst.,) I should not have liad occasion to remit 
 thifTsum to him, and so should not have had to pay any premium. Profit and 
 Loss IS at once debited, and Cash will be credited at the end of the month. 
 
 I>'^Y. 2Qth January. 
 
 Certain property having been bequeathed to G. N. Comer, which ho puts 
 into this business, and thereby increases his capital, he is at once credited for 
 the amount. Accounts are opened with Farm in Watertown and Fitchburg 
 K. R. Stock, and each debited for its respective amount. 
 
 Cash. The part of the tej^acy received and put into this business by G N 
 Comer in cash, is to be at once placed to his credit, and to the debit of Cash at 
 the end of the month. 
 
 I^-^Y. 30th January. 
 
 Bank of Commerce is at once debited, and BiUs Eeceivable credited at the 
 end of the month. — See entry of 22d inst. 
 
 I>-^Y. 31s; January. 
 
 House at Waltham is debited, and Bank of Commerce credited. — See latter 
 part of entry of 22d inst. 
 
 I^^Y. 31s; January. 
 
 Rollins Bro's & Co. are at once debited, and Merchandise credited at the 
 end of the month. 
 
 Cash. G. N. Comer is at once debited, and Cash wUl be credited in the 
 total artlount paid out during the month. 
 
 It must be remembt^rcd that the amount expended by a merchant for hia 
 personal expenses is entirely separate and distinct from his busmess expenses 
 
 I now proceed to collect the items of merchandise, bought and sold • bills 
 receivable, received and delivered ; bills payable, issued and redeemed ' And 
 first, I prepare a piece of paper with the respective headings and pages of the 
 Ledger at which those accounts are opened. The accounts alread'y debited 
 and credited have the figures of the page in the Ledger to which they have 
 been posted placed on the margin of the Day Book. On the 2d inst I find that 
 Merchandise ought to be credited $787.50 : this I enter on the credit side of 
 the Merchandise account on my paper, and mark on the margin of the Day, 
 opposite the entry, the figure 1, to show that Merchandise is posted in the' 
 Ledger at page I. On the 3d inst. I find Merchandise ought to be credited 
 
 (40) 
 
 POSTING. 
 
 $1223.80, and Bills Receivable debited $1223.80. These I enter on my paper, and 
 mark on the margin of the Day the figures 1 and (j to show that these accounts 
 are posted to those pages. 
 
 Illustration. 
 
 Ledger Page 1. 
 Merchandise, 
 
 Date. 
 
 Db' 
 
 s. 
 
 Date. 
 
 Cr' 
 
 8. 
 
 DateJ 
 
 i 
 
 6th 2158 42 
 
 2d i 
 
 787 1 50 
 
 3d 
 
 8th || 550 
 
 3d 1223! 80 
 
 23d 
 
 10th 3449 68 
 
 13th ' 507160 
 
 2oth 
 
 12th 1145 
 
 50 
 
 20th 1290 
 
 
 2Gth 
 
 
 
 
 31st 
 
 3675 
 
 
 
 
 |7303 
 
 GO 
 
 
 7483 90 
 
 
 Ledger Page 6. i Ledger Page 12. 
 
 Bills Receivable. Bills Payable. 
 
 Dr's. 
 
 1223 80 
 
 225 
 
 750 
 1000 
 
 3198 80 
 
 Date, i Ck's. 
 
 22d I 2000 
 30th '^ 760 
 
 2760 
 
 Date.l De's. Date.! Cr's 
 
 |l 
 
 20th 
 
 ,2000 
 
 2000 
 
 8th : 550 
 16th I 2500 
 
 20th jj 710 
 24th! 130 
 25th I 750 
 
 14610 
 
 Thus, the total amount of merchandise bought . . 
 
 " do. sold . . . 
 
 " bills receivable received 
 " do. delivered . 
 
 " bills payable redeemed 
 " do. issued . . 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 IS 
 
 7303.60 
 7483.90 
 3198.80 
 2760.00 
 2000.00 
 4640.00 
 
 Cash Book. 
 
 The total amount of cash received is 6798.95 
 
 " " " " do. paid « 6691.87 
 
 The total amount of merchandise sold for cash " 2183.95 
 
 " do. bought for cash . . . . " 847.88 
 
 " cash paid for expenses ...'... ^ " 550.00 
 
 
 
 Tlie whole of the entries from the Day and Cash being now posted, I pro- 
 ceed to take the 
 
 TRIAL BALA:NCE. 
 
 And first, I prepare the sheet with appropriate headings ; the centre column 
 to contain the names of the accounts, the adjoining column at the left to con- 
 tain the page of the Ledger at which those accounts may be found ; the 
 •' Amount " columns to contain the total of the debits and credits posted to 
 every account during the month; the "Difference" columns to contain the 
 differences between the debits and credits, that is, the balance, if any, remain- 
 ing to the debit or credit of each account at the end of the month. Jn the next 
 month tliey Avould show the balances for two months, in the next for three, 
 iind so on ; so that the total amount of all tlie debits and credits, and the total 
 balances of debit or credit of each separate account, may be seen at a glance. If 
 the work is correct, the footings of the " Difference " columns will correspond 
 in amount with each other ; the footings of the « Amount-' columns will cor- 
 respond with each other ; and as an additional check, add together the footing 
 of the amounts on the Day for the month ; the amount of cash received and 
 the amount of cash paid, and the footing of these amounts will correspond 
 4* C41) 
 
 4 
 
 f 
 
 \ I 
 
 I 
 
BOOK-KEEPING. 
 
 with the footing of the " Amount " columns, and prove the Trial Balance. If 
 the footings do not agree, there is some error, which must be found out and 
 rectified. 
 
 It is customary to have the trial balances in a separate book for that purpose, 
 which is kept in the custody of the mcrcliant. There are various forms of 
 trial balances. Where the accounts are numerous, and not much variation in 
 the names, the book may be prepared to contain three months' trial balances, 
 without re-writing the names, adding only those which may have new accounts 
 each mouth. 
 
 Illustration — in miniature. 
 
 
 Namei. 
 
 J.VJfUARY. 
 
 February. 
 
 March. 
 
 Led. 
 
 Db's. 
 
 Ce's. 
 
 Db's. 
 
 Cb's. 
 
 Db's. 
 
 Cb's. 
 
 Page. 
 
 Diffi 
 
 Am. 
 
 Am.| 
 
 Difflj 
 
 Diff. 
 
 Am. 1 
 
 1 Am. 
 
 1 
 Diff. 
 
 Diff. 
 
 Am. 
 
 Am. 
 
 Difl: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 • 
 
 
 
 
 
 
 
 
 
 
 
 
 Day. 
 
 EXPLANATIONS FOR FEBRUARY, 1&-. 
 
 1st. 
 
 Wm. Smithson is at once debited, and Merchandise will be credited at the 
 end of the month. 
 
 In the second part of the entry Smithson is at once credited, and Bills Re- 
 ceivable will be debited at the end of the month. 
 
 Cash. Balance fro^p last month. All the cash received, including this balance, 
 and all the cash paid, was posted last month, so that this balance cannot be 
 posted again ; it is merely brought down for convenience in balancing the cash, 
 without having to turn to the Cash account on the Ledger, which of course 
 shows the same balance. 
 
 Captain King, Net Freight. The account of Ship Sultana is at once credited, 
 and Cash will be debited at the end of the month. 
 
 Sidney Sloan, Clerk. This is carried into the Expense column, and will be 
 debited in that account, and the Cash credited at the end of the month. 
 
 It is customary to open accounts with the clerks, debiting them with the 
 amounts drawn out by them, and crediting them from time to time with the 
 amount due to them for services ; the effect of which latter operation would be 
 to debit Expense. In this set of books, as there are only a few such entries, 
 I have carried the amount into the Expense account, without the intervention 
 of an account on the Ledger with the clerk. 
 
 Day. 2d February. 
 
 From this entry it appears that the N. E. M. Life Insurance Co. have 
 granted to me a written instrument, called a Policy of Assurance, whereby 
 they promise to pay to my assigns, at my decease, the sum of $8000 ; the 
 consideration for which being the sum of $-'.'52, paid by me ; and further, that 
 I shall annually pay to that Company, during my life, the sum of $232, which 
 
 (42) 
 
 POSTING. 
 
 is called the Premium of Assurance. The Bank is credited for the $232, and 
 Profit and Loss debited, because it is to me personally a dead loss ; at the 
 same time, however, it is creating a valuable piece of property for my heirs 
 or my creditors in case of disaster. 
 
 An account is opened with Life Insurance, which is debited with the amount 
 of this Policy, and one with Suspense, which is credited for the same amount, 
 for the reason that the amount of this Policy cannot be received by me. 
 During my life it is in suspense — I am tlie mere trustee, holding it for those 
 who are to be benefited by it after my decease. No person or persons can be 
 credited for this amount, as I do not owe any one any thing on account of it. 
 The advantauge of keeping such an account in this way must be apparent to 
 those who may have to examine the affairs of deceased persons. It is a 
 record which cannot be overlooked. 
 
 Cash. House at Waltham is at once credited, and Cash will be debited at the 
 end of the month. 
 
 Sextant and Telescope presented to Captain King. In this case Profit and 
 Loss is debited, for the reason that although it may be a judicious action to 
 give a faithful servant tangible evidence that you appreciate extra exertion, 
 still it was not absolutely necessary ; it was not part of the agreement, and 
 cannot properly be termed an expense. Neither would it be proper to charge 
 it to G. N. Comer, because it is an outlay on account of the business from 
 which profit may arise. Cash will be credited at the end of the month. 
 
 Day. 
 
 6th February. 
 
 The Bank is at once debited for the amount deposited j Bills Payable will be 
 debited for the amount of my premium note returned to me, and Real Estate 
 at Brookline is at once credited for the whole amount received of the Insur- 
 ance Company in settlement of the damage. 
 
 Cash. 
 itself. 
 
 Day. 
 
 H, 
 
 Tucker, Stationery. This is one of the expenses, and explains 
 
 Uli February. 
 
 Whenever any goods are received on consignment,— that is, for sale on ac- 
 count of otlxers, — we do not give any person credit for those goods, because we 
 do not owe for them : we have not bought them ; we merely hold them in 
 trust on account of the consignors, and make a memorandum entry of their 
 receipt. When, however, we liave occasion to pay out any thing on account 
 of those goods, or when we may make sale of any portion of tliem, then we 
 open a representative account, such as Consignment from Defree & Co. This 
 we debit with all charges, and credit from time to time with the amount of 
 the sales. This will be further explained upon the closing of the consign- 
 ment account. 
 
 Consignment from Defree & Co. is debited, and the Bank credite* for the 
 dieck to pay freight, &c. 
 
 In the second part of the entry, Defree & Co. are debited, and the Bank 
 credited for the amount of the check to pay their draft. 
 
 It is customary with commission merchants, when goods are consigned to 
 them for sale, to make advances, if desired, to the consignors, for a part of the 
 value of the goods consigned, charging interest on the amount advanced. 
 But such advances are properly u charge against the consignors themselves, 
 and not to the consignment, although there is a lien upon the goods for the 
 amount advanced. 
 
 (43) 
 
 H> 
 
 (I 
 
 
\l 
 
 BOOK-KEEPING. 
 
 Cash. Drayage and labor on consignment from Defree & Co. Is explained 
 above. 
 
 I>AY. nth February. 
 
 George C. Xaylor is debited, and Consignment from Defree & Co. is credited. 
 
 Cash. A. Arnot's draft, which I accepted on the 10th ult., being due this 
 day, and lodged at the Trader's Bank for collection, I send the cash there and 
 take it up. Bills Payable will be debited, and Cash credited. 
 
 Day and Cash. 9th February. 
 
 See second part of entry of the Gth instant. 
 Cash. Farm in Watertown is at once credited, and Cash will be debited. 
 
 Day. 
 
 \2th February. 
 
 In this case certain merchandise was sold on four and six months' credit, 
 and then certain notes of hand, falling due at different times thereafter, for a 
 part of the amount, were received, and cash for the balance. As far as the 
 posting is concerned, the entry is explained in that of the 8th ult. Bills Re- 
 ceivable and Interest are debited for their respective amounts, and Merchan- 
 dise is to be credited for the amount of the bills «ud the interest. In posting 
 the cash. Merchandise will be credited for the balance, $432.29, and Cash wiU l^ 
 debited. 
 
 When we receive a bill of exchange, draft, or note of hand, in account, 
 we give credit for the receipt, but it does not follow that we discount the 
 paper. Discounting bills is not the business of a merchant ; that is the 
 province of the bill broker and banker. Such paper is received as additional 
 security for the payment of the debt. In rendering an account current we 
 give credit for items of this charact<-r on tJie days on which the cash is, or is to 
 be, received ; allowing interest on those amounts received before the day our 
 account is due, and charging interest upon our account from the time it is due 
 to the time of settlement. 
 
 In this case, therefore, the balance in canh must be such a sum, which, if put 
 at interest, would in the given time produce such an amount, as, added to the 
 value of the notes at that time, will be the exact amount to cancel our account. 
 The workings of this transaction will be found under the head of Accounts 
 Current in the Commercial Computations, and will repay a careful study. 
 
 Day. 
 
 Vith February. 
 
 Here I sold certain merchandise of my own on six months' credit, together 
 with a quantity of that consigned to me by Defree & Co. on three months' 
 time, and of that consigned to me by Quincy, Dane & Co. on four months, and 
 received a note for the whole, payable in five months from the 2Sth January, 
 which would be due on the Ist July, the day on which the above bills of goods 
 would average due. 
 
 It must be remembered that, although bills of exchange and notes carry 
 days of grace, accounts do not ; so that a note in payment for goods ought 
 to^H? dated at such a time as that the last day of grace will fall upon the day 
 when the credit for the goods expires. 
 
 Cash. Farm in Watertown is debited, and Cash will be credited. 
 
 POSTING. 
 
 I*AT. 14^^ February. 
 
 Whenever we consign goods for sale on our account, we cannot debit any 
 person for those goods ; but we open a representative account, such as Ship- 
 ment to such and such a person or place, debiting that account with the cost 
 and all outlays upon the consignment, and crediting it with the amount of 
 net sales when advised. 
 
 Shipment to Philadelphia is debited, and Merchandise will be credited. The 
 same for the amount paid on the cash for this day. 
 
 Day. 
 
 See entry of the Gth instant. 
 
 Wth February. 
 
 Cash. iQth February. 
 
 Estate at Brookline is debited, and Cash credited. 
 3^ AY. 17/^ February. 
 
 In this case I consigned certain merchandise to be sold on joint account of 
 E. P. Young and myself. That is, we are each interested one half, so that 
 Young is debtor to me for his half, and Shipment to St. Thomas is debited 
 for the other half. Then the Bank is credited for the check I drew ; Bills Pay- 
 able is credited for the note I gave; and Young (who of course is to pay his 
 own note) is credited for the amount of the note he gave, and also for the 
 amount he paid in cash, leaving him indebted to me, on this transaction, in the 
 sum of $1312.50. 
 
 I>-AY. iQth February. 
 
 Felix Zahnt. See entry of the 8th instant. 
 
 I now render the Account Sales of the Merchandise consigned to me by 
 Defree & Co. ; but first I credit Commission with the amount of my commis- 
 sions for effecting the sales ; Guaranty, with the percentage I char"-e for Guar- 
 anteeing that the goods sold on credit shall be paid for at maturity"; Expense 
 for the amount I charge for advertising ; and Defree & Co., for the net pro- 
 ceeds after deducting the total amount of the charges, including those previ- 
 ously posted, from tlie total amount of the sales. I then debit the Consi"Ti- 
 ment account with the amount of commission, guaranty, expense and the 
 net proceeds transferred to Defree & Co., and so close the Consi^Timent ac- 
 count. ° 
 
 Cash. I now open an account with the Bank of the Republic, debitin<^ it for 
 the amount deposited, and crediting the Cash at the end of the month. ° 
 
 I>AY. 20<A February. 
 
 E. P. Young is credited, and Bills Receivable debited. 
 
 I^AY- 2lst February. 
 
 Vaughn Lloyd is debited, and Bills Payable credited. 
 
 ^AY- 22d February. 
 
 See entry of the 17th instant. Shipment to London is debited for one third 
 of the whole amount of the consignment, R. & H. Parkinson for one third, 
 and George A. Thompson one third. Consignment from Quincy, Dane & Co 
 is credited for the amount of tlieir merchandise taken ; Bank of Commerce for 
 my check ; Bills Payable for my note ; and Merchandise for my mackerel and 
 
 06€I. 
 
 : h 
 ' %. 
 
 I ': 
 
 ' III 
 
 (46) 
 
II p 
 
 BOOK-KEEPING. 
 
 <:ash. Land at Chelsea is debited, and Cash will be credited. 
 
 Day. 23d February. 
 
 See entry of the 19tb instant. 
 
 Day. 26/A February. 
 
 The Bank of the Repoblic is debited for the net proceeds of the note dis- 
 counted, and Interest is debited for the amount retained by the Bank as dis- 
 count for advancing me the money before the note is due. Bills Receivable is 
 credited for tli» whole amount, being the face of the note. 
 
 Day. 28/fe February. 
 
 Bills Receivable is debited $5000, and Consignment from V. Lloyd is cred- 
 ited $5000. See entries of 6th ultimo and 12th instant. See " Debenture," in 
 Appendix. 
 
 Cash. Consignment from V. Lloyd is credited, and Cash will be debited. 
 
 G. N. Comer, Bank of the Republic, and Merchandise for Chadwick's draft, 
 •re each debited, and Cash will be credited. 
 
 Collection of Items of Representative Accounts from the Day for the Month. 
 
 Ledger Page 1. 
 Merchandise. 
 
 Ledger Page 6. 
 Bills Receivable. 
 
 Ledger Page 12. 
 Bills Payable. 
 
 Date 
 
 Db's. 
 
 Date' 
 
 Cb's. 
 
 Date! 
 
 _i 
 
 Ist 
 
 12th 
 it 
 
 Db's. 
 
 Date 
 
 26th 
 2bth 
 
 Cb's. 
 
 Date 
 5th 
 
 Db's. 
 
 Date 
 
 17th 
 21st 
 22d 
 
 Cr's. 
 
 
 
 
 iBt 
 4th 
 12th 
 
 1115 
 lOM 
 1067 
 
 77 
 30 
 71 
 
 1623 
 500 
 300 
 
 37 
 
 3088 
 750 
 
 75 
 
 130 
 
 
 4500 
 3875 
 3565 
 
 55 
 
 
 
 
 13th 
 14th 
 
 ia38 
 2377 
 
 75 
 
 12 
 
 13th 
 
 250 
 3088 
 
 75 
 
 
 
 
 
 
 
 
 
 
 
 
 — 
 
 22d 
 
 1500 
 1925 
 
 55 
 
 20th 
 28th 
 
 1312 
 5000 
 
 50 
 
 
 3838 
 
 75 
 
 
 130 
 
 — 
 
 
 11»10 
 
 
 
 10118 
 
 12074 
 
 55 
 
 Cash. 
 
 Amount of cash received, $22,385.78 
 
 " " cash paid, h Zt^M.n 
 
 «» «' cash received for merchandise, . 2,896.16 
 " " cash paid for merchandise, . . . 4,044.12 
 »' " cash paid for expenses, 225.00 
 
 THE TRIAL BALANCE 
 
 is taken in the same way as for the first month, with the exception that the 
 " Difference " columns contain the difference in amount between the debit and 
 credit sides of every account which does not balance at the end of this month. 
 It is the difference remaining to the debit or credit side of the accounts for ^wo 
 months. The " Amount " columns contain only the amounts posted \4 *^^ 
 debit and credit of the accoimts for the present month. 
 
 (46) 
 
 POSTING. 
 
 EXPLANATIONS FOR MARCH, 18-. 
 
 DAT. 1st. 
 
 Felix Zahnt having sold the goods I consigned to him for sale, and rendered 
 me an account showing that the amount of net proceeds in his hands to my 
 credit is $3041, 1 debit him, and credit Consignment. 
 
 Day. 2d March. 
 
 See entries of the 19th and 23d ultimo. 
 
 Cash. R. & H. Parkinson having sent to me (agreeably to previous arrange- 
 ment) an invoice of merchandise to be sold on joint account of them and myself, 
 as will be seen by reference to an entry on the Day of the 6th instant, I open an 
 account with Merchandise Co. R. & H. P., which is debited fbr the amount 
 paid for freight, &c., and Cash will be credited at the end of the month. 
 
 Day. ^ M March. 
 
 Bank of Commerce is debited, and Bills Receivable will be credited at the end 
 of the month. 
 
 In the second part of the entry the Bank is credited, and Estate at Brookline 
 debited. 
 
 Cash. Exchange Bank Stock, Western R. R. Stock, and Fitchburg R. R. 
 Stock are each credited, and Cash will be debited for the whole amount received. 
 
 Cash. 
 
 ^th March. 
 
 Advertising, which I pay by contract, is an expense, which account is 
 
 debited and Cash will be credited. 
 
 Day. 
 
 bth March. 
 
 Quincy, Dane & Co. are debited, and Ship Sultana and Bank of the Republic 
 are each credited for their respective amounts. 
 
 Day, 
 
 Qtth March. 
 
 R. & H. Parkinson are credited for my half of the first cost of the Merchan- 
 dise received of them to be sold on our joint account, and Merchandise Co. 
 Iv. & H. P. is debited. 
 ^^^Y. 7/ft March. 
 
 Swift & Winn having bought a bill of goods to be paid fbr in a few days, I 
 make the record of the fact without carrying out the amount into the outer 
 columns, to save the necessity of opening an account with them on the Led^-er. 
 When the amount is paid, I treat it as a cash sale on that day, and write on the 
 margm of the Day opposite the entry that it is so paid. If at the end of the 
 month It should remain unpaid, I can either collect or transfer it to the next 
 montli by an entry in the same way, referring to the first, or open an account 
 with them in the Ledger. 
 
 ^^Y- lOth March. 
 
 This entry is explained by the preceding one. 
 
 ^^^- nth March. 
 
 George C. Naylor is debited, and Farm in Watertown credited. 
 In the second part of the entry Naylor is credited, and the Bank debited. 
 
 Cash. Land at Chelsea is debited, and Cash will be credited. 
 
 (47> 
 
 i 
 
 I: 
 
t 
 
 BOOK-KEEPING. 
 
 ^^^- iSth March. 
 
 Defrec & Co. arc debited, and Felix Zahnt is credited. 
 Tliia entry is governed by the same principles as that of the ISth January. 
 
 ^^^' . IGth March. 
 
 Felix Zahnt is credited $2,597.75, Interest is credited $27.27, and BiUs Ee- 
 ceivable is debited for the whole amount, being the face of the note. 
 
 Cash. Bills Payable will be debited, and Cash credited. 
 See entry of the sth ultimo. 
 
 ^^S"- 19/;^ March. 
 
 Merchandise Co. R. & H. P. Is credited, and Cash will be debited. 
 Having lent P. C. Jenks $2500 on call, - that is, to be paid on demand, - 1 
 
 Zcl \uT '"'T ' """?'' ^' ^'^^*^^ ^""^ '^^ ^'"^^'^t' ^«d Cash wUl be credited. 
 feucJ, an account saves the necessity of opening accounts with every person 
 
 ^y Sw "^ "" ""' "'"' "^ '''''' *^°'' ''^"^ ^^'^^"^ ^^ ""^y ''^^^^- 
 
 hah^oft^;trnfif^'p''Tr ff '^^^"^^^^^ "'^ir h«lf first cost, and for their 
 
 chiLle Co E & vjT ""h ^r,'' "'^"''-^^ ^^•* '^y ^'^'^^ ^f '^' Profit' ^d Mer- 
 cnan-iise Co. K. & U. p. is debited with the whole to close. 
 
 ^-^^- 20^A March. 
 
 G. T. Reid having settled for the goods he bought on the 10th instant it is 
 treated as a sale this day. Bills Receivable will be debited, and ilerchandise 
 
 ^hef^i^l s:t:ii! ^ '-''-'^ ^^ ^-^^-^- -^^-^ for^h^tri^ 
 
 ^'^^- 2Sd March. 
 
 R. & H. Parkinson arc debited for the amount of the bill of exchan^re rc^ 
 mitted to them ; Bills Receivable will be debited for the amount of HaU'» 
 note, and Land at Chelsea is credited for the whole. 
 
 I>'^Y. 24-^ March. 
 
 Rank of the Republic is credited, and Estate at Brookline debited. 
 ^•^^- 28th March. 
 
 Joseph Wood heing unable to take up the note he gave me on the 25th of 
 January, due this day, I have loaned him $750, and taken his note at CO davs 
 for that amount and the interest addo<l. 
 
 Bank of Commerce is credited $750, Interest $7.88, and BUls Receivable will 
 be debited $75r.SS. 
 
 See entry of the IGth instant. 
 Cash. BiUs Payable will be debited, and Cash credited. 
 I^-^Y. 3ijff March. 
 
 Bank of Commerce is credited, and Merchandise debited. 
 Cash. P. C. Jenks having returned the money loaned him with interest. 
 Loan account and Interest are each credited for their respective amounts, and 
 Cash will be debited for the whole. 
 
 Estate of p:dward Evans is debited, and Cash credited. 
 
 The entries which Iiave no special explanations are so similar to others 
 previously explained, that a repetition is deemed unnecessary. 
 
 (48) 
 
 U. 
 
 POSTTXG. 
 
 Colkc Hon of Items of Representative Accounts from the Day for the Month. 
 
 Ledger Page \. 
 
 M K R C H A N n I S E . 
 
 Date.'! Dr's. 
 
 Sth 
 
 3l8t 
 
 475 
 311G 
 
 45 
 
 359145 
 
 Date. 
 
 9th 
 20th 
 
 Cr's. 
 
 Ledger Page 6, 
 Bills Receivable. 
 
 Date. Dr's. 
 
 312 
 1800 
 
 50 
 
 2112 50 
 
 l()th 
 
 !2;i25 
 
 02 
 
 3d 
 
 20th 
 
 ilSOO 
 
 
 
 23d 
 
 12096 
 
 
 
 28th 
 
 1 757 
 
 88 
 
 
 
 7278 
 
 90 
 
 
 Date. 
 
 Cr's. 
 
 Ledger Page 12. 
 Bills Payable, 
 
 Date. 
 
 250 
 
 250 
 
 Dr's. Date. | Cr's. 
 
 Amount of cash received, «i9 072.32 
 
 
 paid, 
 
 received for merchandise, . 
 paid " " 
 
 " " expenses, . . 
 
 19,750.80 
 
 3,423.12 
 
 2,700.00 
 
 910.25 
 
 THE TRIAL BALANCE 
 
 is taken the same as last month. The " Amount " columns to contain the 
 amount posted to the debit and credit of the different accounts for this month 
 only ; the " Difference " columns to contain the differences, that is, the bal- 
 ance of debit or credit of every account ou the books for three months Of 
 course, if the amounts of debit and credit to an account are equal, there is no 
 difference. 
 
 I now proceed to close the books. The first thing to be done is to see that 
 those persons for whom I liold property in trust are proncily credited with 
 any items of income whicli I may have received (over and above all expendi- 
 tures) from any portions of that property ; the net income of another person's 
 property being as much theirs as the original property itself 
 
 Upon examinhig the account of the Estate of the late Edward Evans, I find 
 that I have received dividends upon the stock, and rout of the house, and have 
 paid for insurance of house more than the rent received 
 
 creluorl I,"^""^^"^ f "«", f""^« I '^^^i^^^^ m own Cash for the amounts, ancf 
 reivnH T T" J ""V^^" V^^^^^^l^r properties from which they were re- 
 
 Ct^^;v\^"T ".".''T''''"^' "'^"^'^"^^ ^'•^"^ *h« particular properties 
 to the Estate, the estate being increased by that amount; and this I do by 
 
 the ?nT "^ """"^ '"'7 '"^ P"^'^"" ^° ^^^ d^^i* of the accounts from which 
 
 Sr theZn Jti' "^T"^' r^ "''"'''**"- *^" ^'^^''- ^« I ^^^'^ P'"d out more 
 
 the F!f!r Al" 'J'"* '''^^'^"•^' ^ *'-''^»«^'^^ '^^ d*ff^r«»«« to the debit of 
 the Estate, and the credit of the house te balance that item. 
 
 ^^ hen I received the property in trust, I debited each item for its appraised 
 
 dSh^ ETtl fo^^^^^^ ^T', '^^ '""^ ''''' ^"^--*- I -- -^d^t each item and 
 being. '^^''^' ^™^"^*' *° '^•'^^^^^^ ^^^'^ accounts, for the time 
 
 I next proceed to take a schedule of assets. 
 I make rnnv^if 'l^'V ^ ^""t'^'" '''^"' ""^ '^'' merchandise on hand is $5700. 
 
 thltZ^cln^TL'Tl^ of ^Ship Sultana is appraised at $11,000, and I credit 
 
 Real Frt«. '^'JV f™''""^' *^^ '''™^ ""' ^ ^*1^' ^«^ ^^^ ^^^^ being. 
 
 Real Estate at Brooklme, and all the assets, are treated in the sa^^e way; so 
 
 * (49) 
 
 fi 
 
 if 
 
BOOK-KEEPING. 
 
 that, havinn: made the Day Book entries and posted them, twelve accounts are 
 credited, in the whole amounting to $.**,.',7()2.70. 
 
 Jo^orV:'^V' ^'^^'^'"^^^of 'l^'l^t^- I fi"d that the amount of bills payable is 
 $12,6^.00. I niake a Day Book entry, debiting Bills Payable, the same as 
 though they had been rodeomed, for the time bein<^. 
 
 "Suspense," and the accounts of V. Lloyd and°R. & H. Parkinson, I debit 
 with their respective amounts, for the time being, which, when posted, closes 
 those accounts, and they may now be added up, the footings brought down, 
 and tlie accounts ruled off. 
 
 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 debit 
 and credit balances in a temporary way with a pencil, ruling off the accounts 
 only when they are actually settled. 
 
 The assets being hirgcr in amount than the debts by the sum of $58,8r,8.45. 
 
 ??.^ I ^r""""* ""^ ^- ^- ^*'"''^'« °*^* <^Pi^' fo'- which his accomit is 
 debited, for the tune being. 
 
 The Day Book entries having been made and posted, five accounts are deb. 
 ited, m the whole amounting to $S'^,7C,2.:o-an equal offset to the assets credited. 
 1 he plulosophy of this may perhaps be more dearly understood if I should as- 
 sume that all the property had been sold for cash, which would leave Cash deb- 
 "^'V"'' ^.'I't''" '*'^'' amount, and each account credited lor its respective amount. 
 
 Then, If I should assume that all the debts had been paid in cash, which 
 would be croditiug Cash, and debiting eiich account for its respective amount, 
 leaving the balance of cash on hand $:y%m.U, which, if G. N. Comer should 
 draw out, would have the effect of crediting the Cash, and debiting him with 
 that amount, this would be just the same result as we obtain above, without 
 the round-about assumption of something which had not occurred 
 
 Every account which will not balance with the entries above made must be 
 closed by transferring the necessary amount to the debit or credit side of the 
 Profit and Loss account for the gain or loss on such account. 
 
 In the first place I find that the credit side of the Merchandise account is 
 larger than the debit side by the sum of $^2M.V^, which is the gain on that 
 account. I make the Day Book entry, giving Profit and Loss credit for that 
 amount, which, when posted, debits 3Ierehandise, and so closes that account, 
 which may now be added up, the footings brought down, and the account 
 ruled off. 
 
 The accounts of Ship Sultana, Farm in Watertown, Fitchburg R. R. Stock, 
 Shipment to Philad.lphia, Commission, Guaranty, and Real Estate at Chelsea 
 are each treated hi the same manner as the .Merchandise account ; and Profit 
 and Loss is credited for the whole amount, $ll,.'tef.,l8. 
 
 I find that the debit side of the Real Estate at Brookline is larger than the 
 credit by the sum of $.385, which is the loss on that account. I make the Day 
 Book entry, debiting Profit and I^ss for that amount, which, when posted, 
 credits the Real Estate, and so closes that account, which may be added up, 
 the footings brought down, and the account ruled off. The accounts of Ex- 
 pense and Interest are each treated in the same way, and Profit and Loss is 
 debited for the whole amount, $,'195.91. 
 
 I now find that the credit side of the Profit and Loss account is lar<-er than 
 the debit by the sum of $«8<-.s.45, which is the net gain to be transferred to the 
 cre(ht of G. N. Comer's account, and if the books have been correctly kept, 
 will be found to be just the amount necessary to balance his account, so that 
 every account in the Ledger in now closed. 
 
 In opening a new set of books, or in continuing bnsiness in the old, the 
 schedules of assets and debts would bo entered just as at the beginning' of 
 this set of books. (50) ° 
 
 \i 
 
 GEORGE N. COMER'S 
 
 LEDGER, 
 
 I 
 
 i I 
 H 
 
 CONTAINING 
 
 AN ABSTRACT OF ALL THE TRANSACTIONS 
 FROM ALL THE OTHER BOOKS. 
 
 (61) 
 
 I 
 
 I 
 
BOOK-KEEPING. 
 
 LEDGER. 
 
 Dr. 
 
 Merchandise. 
 
 Cr. (1)» 
 
 fl 
 
 I 
 
 INDEX. 
 
 Arnot, Alfred 
 
 A. 
 
 B. 
 
 Bank of Commerce 
 Bills Receivable 
 Bills Payable 
 Bank Stock, Exchange 
 Bank of the Republic 
 
 C. 
 
 Cash 
 
 Comer, George N. 
 
 Consignment from Defree & Co. 
 
 Consigt. from Quincy, Dane & Co. 
 
 Consigt. from Vaughn Lloyd 
 
 Commission 
 
 17 
 
 5 
 
 6 
 
 12 
 
 22 
 
 43 
 
 4 
 16 
 30 
 
 M. 
 
 Merchandise 
 
 Merchandise Co. K. & H. P. 
 
 Br. 
 
 Naylor, George C. 
 
 O. 
 
 Olivera & Co. 
 
 P. 
 
 Proflt & Loss 
 Parkinson, R. & H. 
 
 Davis, Daniel 
 Defree & Co. 
 
 D. 
 
 E. 
 
 Estate of the late Edward Evans 
 Expense 
 
 P. 
 
 Farm in Watertown 
 
 O. 
 
 Gordon, Samuel T. 
 Guaranty 
 
 H. 
 
 House and Land at Waltham 
 
 33 Quincy, Dane & Co. 
 36 
 
 R. 
 
 Real Estate at Brookline 
 Rollins Bro's & Co. 
 Railroad Stock, Western 
 Railroad Stock, Fitchbui^ 
 Real Estate at Chelsea 
 
 40 
 
 15 
 31 
 
 Interest 
 Insurance, Life 
 Jones, William 
 
 Knowles, Albert 
 
 I, J. 
 
 23 
 28 
 
 26 
 
 9 
 41 
 
 24 
 
 32 
 35 
 
 13 
 
 K. 
 
 Lloyd, Vaughn 
 Loan Account 
 
 L. 
 
 42 
 
 49 
 
 8. 
 
 Ship Sultana 
 
 Sraithson, William 
 
 Suspense 
 
 Shipment to Philadelphia 
 
 Shipment to St. Thomas 
 
 Shipment to London 
 
 Statement 
 
 T. 
 
 Thompson, George A. 
 Trial Balances 
 
 V. 
 Underwood, Henry 
 
 V, W. 
 
 Vanevar, Robert 
 
 X, Y, Z, 
 
 Young, Elias P. 
 Zahnt, Felix 
 
 63, 
 
 1 
 48 
 
 19 
 
 20 
 
 21 
 
 > 45 
 
 14 
 
 3 
 10 
 25 
 27 
 47 
 
 2 
 18 
 89 
 34 
 37 
 44 
 06 
 
 46 
 64,65 
 
 U 
 
 8 
 
 (52) 
 
 18- I 
 
 Jan. 1 stock on hand 
 Bought 
 Do. 
 
 Bought 
 
 March Bought 
 
 «' Do. 
 
 «' 31 Proflt 
 
 t D. Day or Day Book, 
 ic. Cash 01 Gash Book 
 
 tDl 
 Dl,2 
 
 tC2 
 
 C4 
 
 D9,ll 
 
 C6 
 D13 
 
 12500 
 7303 
 
 00 
 60 
 
 847 88 
 
 18— 
 ■Jan. 
 
 §20051 
 4044 
 
 M095 00 
 
 48 Feb. 
 12 
 
 3591 
 2700 
 3231 
 
 45 
 00, 
 13 
 
 March 
 « 31 
 
 $1 34218 18 
 
 Fold 
 Do. 
 
 Sold 
 Do. 
 
 Sold 
 Do. 
 
 Stock on hand 
 
 § This method will be 
 found rery convenient, 
 saTing long additions 
 every month. 
 
 Dl,4 
 
 CI ! 
 
 D5,8 
 C3 
 
 Do.u 
 
 C5 
 
 D12 
 
 74a3 90 
 2183 95 
 
 901)? 85 
 
 10418 55 
 
 2890 lie 
 
 22982 56 
 2112 50 
 3423 12 
 5700i00 
 
 »: 
 
 34218 18 
 
 1 
 
 Dr. 
 
 Ship Sultana. 
 
 Cr. (2) 
 
 18- 
 
 
 
 
 
 18— 
 
 Jan. 1 
 
 My^thjcoat 
 
 Dl 
 
 12500 
 
 00 
 
 Feb. 1 
 
 Mar.31 
 
 Pwftt . 
 
 D13 
 
 4000 
 
 00 
 
 Mar. 5 
 
 " 31 
 
 
 
 $ 
 
 16500 00. 
 
 Net Freight 
 Quincy, Dane &Co. ^ 
 My 7 appraised at 
 
 C 1 
 D9 
 D12 
 
 2500 
 
 3000 
 
 11000 
 
 00 
 00 
 00 
 
 $j 16500 
 
 00 
 
 Dr. 
 
 Real Estate at Brookline. 
 
 Cr. (3) 
 
 18- 
 
 
 
 
 18— 
 
 
 
 
 
 Jan. 1 
 
 Valued at 
 
 Dl 
 
 10000 00 
 
 Feb. 5 
 
 Firemen's Ins. Co. 
 
 D5 
 
 2000 
 
 00 
 
 « 17 
 
 T. Mason, Repairs 
 
 C2 
 
 125 00, 
 
 Mar.31 
 
 Appraised at 
 
 D12 
 
 10500 
 
 00 
 
 « 24 
 
 Firemen's Ins. Co. 
 
 D3 
 
 130 
 
 00 
 
 oo' 
 
 t 
 
 (( (( 
 
 Loss 
 
 D13 
 
 385 
 
 00 
 
 
 10255 
 
 
 Feb. 16 
 
 J. Wales, Rebuilding 
 
 C4 
 
 500 00| 
 
 
 / 
 
 
 
 
 Mar. 3 Tiremen's Ins. Co. 
 
 D9 
 
 130 
 
 00 
 
 
 / 
 
 
 
 
 " 24 J. Wales, in fuU 
 
 Dll 
 
 2000 
 
 00 
 
 
 / 
 
 
 
 
 
 
 $ 
 
 12885 00 
 
 
 
 »1 
 
 12885 00 
 
 Dr. 
 
 Cash. 
 
 Cr. (4) 
 
 18— 
 Jan. 1 
 it 
 
 On hand 
 Received 
 
 R«o«iTed 
 Received 
 
 Dl 
 
 CI 
 
 C3 
 C5 
 
 350 
 6798 
 
 00 
 95 
 
 95 
 
 78 
 
 73 
 32 
 
 18— 
 Jan. 
 Feb. 
 
 March 
 " 31 
 
 Paid 
 Paid 
 
 Paid 
 BalaoM 
 
 { 
 C2 
 C4 
 
 C6 
 D12 
 
 6691 
 22504 
 
 87 
 17 
 
 Feb. 
 
 7148 
 22385 
 
 29196 
 19750 
 
 260 
 
 04 
 80 
 
 March 
 
 29534 
 19672 
 
 21 
 
 
 
 » 
 
 49207 05 
 
 
 
 $1 
 
 49207 05 
 
 • For convenience of reference, and to save fpacc, each account is numbered to represent a page on the Ledger. In 
 actual business, the true policy and economy is to open an account on the head of each page, and not to open a second 
 on a page until nearly all the pages on the Ledger have beep, appropriated ; by that time you will have ascertained 
 which of your customers are likely to want a ioag and which o' them a short spaoe. It \t not of any importance wher* 
 •n aooouot ii opened on the Ledger, as the Index regulates that. 
 
 5* (53) 
 
 If 
 
 %\ 
 
 III 
 
 I 
 
 11 
 
^i 
 
 Dr. 
 
 i 
 
 1*- 
 
 Jan. 1 Dtfod* 
 
 " 6 Do 
 
 " 22lH. Low, CoU. 
 
 « 29Depodt 
 
 " 30 X. Eeed. Coll. 
 
 •eb 
 
 . 
 
 BaUno* 
 
 u 
 
 1 
 
 DapoMt 
 
 «( 
 
 5 
 
 Do. 
 
 il 
 
 17 
 
 Do. 
 
 (( 
 
 28 
 
 J. Wood, Con. 
 
 March BaUnoe 
 " 3Jf. Coo.CoU 
 «* 19 Depo€it 
 " 3r Do. 
 
 Dr. 
 
 1*^ 
 Jan. 1 
 
 Feb. 
 
 BUI Book 
 Ktceired 
 
 March R«a«iTMi 
 
 Dr. 
 
 760 00 
 
 13260|00|'| 
 
 BOOK-KEEPING. 
 Bank of Commerce. 
 
 18— 
 8000 00 'Jan. 12 
 SOOjOoj «« 22 
 20OO 00 
 2000,00, 
 
 ^B^ (5) 
 
 <« or I 
 
 Dutin Mid freight 
 Biot Iiuunuice Co. 
 EicJimje oa Barbica 
 31.B. M. Firelns. Co. 
 " " B.iM.c, 
 
 108581 82' [Feb 
 
 isoojooi « 
 
 l870jOoj 
 
 2000 J0(> 
 
 750 001 
 
 1145 
 111 
 W9 
 
 vjr, 
 
 1085> 
 
 50 
 
 00 
 68 
 00 
 
 82 
 
 
 2 Jr.E. M.LifelM.Co. 
 6 Con*gt. Defreoft Co. 
 y QuiBcy, Dane ft Co. 
 15 Cooift. V. Uojd 
 
 17 Shipt. to8t. Tfaomaa 
 22 . Shipt. to Londoa 
 28 Cash Account 
 Balance 
 
 $ 13260 00 
 
 2:32:00 
 
 2ioo!oo 
 
 50<t'oo 
 
 65000 
 
 6000J00 
 
 3800 00 
 
 4014 12 
 
 652170 
 
 052 70! Mar. 3 Fir«nen'f Im. Co. 
 
 " 28 J. Wood* 
 
 4000, OOi: " 31|Z.P.BrvHltiCo. 
 
 16978182 
 
 C6 II 3000|00p «« «' 
 
 7902 71 
 
 ■<i\ 
 
 D9 
 DU 
 Dll 
 D12 
 
 130 00 
 
 75OJ00 
 
 311645 
 
 3906125 
 
 7902 
 
 70 
 
 ^ILL8 RECEIVARLE. 
 
 Dl 
 
 |18— 
 2760^00 Jan. 
 
 Cr. (6) 
 
 Dl,4, 3198!80 Feb. 
 
 5958 '80, 
 D6,8|'| 12074 J62'|March 
 
 18ft33 42 «« 31 
 Dio,m|| 7278|90 « «' 
 
 25312 32 
 
 DeliTcred 
 Do. 
 
 Delirered 
 
 J.Todd 
 
 Balance to new acet. 
 
 Alrert Knowles. 
 
 eren upon 
 the op[)o- 
 
 u - ^ - - items to 
 
 rajrable ihould alwaji be 
 
 (54J 
 
 '^- 
 
 Dr. 
 
 Dr. 
 
 IS— 
 Jan. 1 
 
 Former account 
 
 Dr. 
 
 18— 
 Jan. 1 
 
 Former account 
 
 Dr. 
 
 LEDGER. 
 
 Robert Vanevar. 
 
 Cr^ (B) 
 
 1&- 
 
 Jau. 1 
 
 Former acoount 
 
 Dl 
 
 687 
 
 oo| 
 
 18— 
 Jan. 16 
 Feb. 3 
 
 Cash 
 Cash 
 
 CI 
 CI 
 
 387 
 300 
 
 00 
 00 
 
 
 
 »; 
 
 687 
 
 -; 
 
 
 $ 
 
 087 
 
 00 
 
 Samuel T. Gordon. 
 
 Cr. (9) 
 
 Dl 
 
 550 
 
 18— 
 00' ! Jan. 6 cash 
 
 Mar. 
 
 550 
 
 00 
 
 Cash 
 
 CI 
 C5 
 
 250 00 
 300! 00 
 
 550100 
 
 Dr. 
 
 ROLLIXa 
 
 Bro'S & Co. 
 
 CR. (10) 
 
 18— 
 Jau. 1 
 « 31 
 
 Former acoount 
 Merchandise 
 
 Dl 
 D4 
 
 478 
 3675 
 
 00 
 00 
 
 [18— 
 ! Jan. 26 
 Feb. 17 
 
 Cadi 
 
 CI 
 C3 
 
 478 
 3675 
 
 00 
 00 
 
 
 
 $ 4153 loo 
 
 
 $ 4153 00 
 
 Henry Underwood 
 
 Bills Payable. 
 
 Cr. (12) 
 
 18- 
 
 
 
 
 !118- 
 
 , 1 
 
 Jan. 
 
 B«deemed 
 
 D3 
 
 2000 
 
 00: Jan. 1 
 
 1 
 
 Feb. 
 
 Do. 
 
 D5 
 
 130 
 
 00 
 
 t( 
 
 (( 
 
 Do. 
 
 C4 
 
 2500 
 
 00 
 00 
 
 
 
 4030 
 
 Feb. 
 
 March 
 
 Redeemed 
 
 C6 
 
 4625 
 
 55 
 
 
 «' 31 Balance 
 
 D12 
 
 12625 
 
 00 
 
 
 
 
 1 
 
 21880 
 
 55 
 
 
 Bill Book 
 Issued 
 
 Issued 
 
 
 Dr. 
 
 
 William Jones. 
 
 18— 
 
 
 
 
 
 
 18— 
 
 
 Jan. 
 
 2 
 
 Merchandise 
 
 Dl 
 
 787 
 
 50 
 
 Jan. 1 
 
 Former a> 
 
 (( 
 
 26 
 
 Cash 
 
 C2 
 
 1500 
 
 00 
 
 
 
 Mar. 
 
 9 
 
 Merchandise 
 
 DIO ! 312 
 
 II 
 
 50; 
 
 * 
 
 
 
 
 $; 
 
 ' 2600 00 
 
 1 1 
 
 
 
 Dl 
 
 Cr. (13) 
 
 2600 00 
 
 2600 
 
 00 
 
 _„ ._, ... ■ papes, setting ( . 
 
 fBond, and affixing the number of the new page to the Index. 
 
 (55) 
 
 mm 
 
 I If 
 
 II 
 
 ^1 
 
BOOK-KEEPING. 
 
 DR. 
 
 QuiNCY, Dans & Co. 
 
 
 Cr. (U) 
 
 18— 
 
 Feb. 9| Advance 
 Mar. 5 .-^Ui SWp Saltan* 
 " 5 Check to balance 
 
 D6 
 D9 
 
 D9 
 
 SOOOO'Jau. 1 
 3000 00 " 5 
 2549 17 Feb. 23 
 
 Former Aooount 
 MerchuKUM 
 Net Sale* 
 
 D2 ! 
 
 D8 i 
 
 1800 00 
 
 215S 42 
 
 , mX) 75 
 
 
 $ 
 
 ur49 17 ! 
 
 GWy 17 
 
 Dr. 
 
 IS— 
 
 Jaa. 24 
 
 Cub 
 
 C2 
 
 Daniel Davis 
 
 . 
 
 
 Cr. (16) 
 
 j 18— 
 950 00 Jan. 1 
 
 Former Aocoont 
 
 Dl 
 
 950 
 
 00 
 
 Dr. - 
 
 George N. Comer. 
 
 Cr. (16) 
 
 18— 
 
 Jan. Sl'cMh 
 
 I 
 Feb. 2S cish 
 
 Mar.30 Cish 
 
 " 31 
 
 Net Capital 
 
 C2 
 C4 
 C6 
 D12 
 
 $ 
 
 200 00; 
 
 20000: 
 
 200 00; 
 
 58808 45| 
 
 594<38 45' 
 
 1!^ , 
 
 Jan. 1 Net Capital 
 « 29 Ex'rs C. Newhall 
 « « I Do. Do. 
 
 Mar 31 Pn»ft» 
 
 Dl 
 
 38fjO0'0O 
 
 D4 1 
 
 : 10000 00 
 
 CI ! 
 
 1 2000!00 
 
 D13 
 
 88G8j45 
 
 $ 
 
 ' 594C8 45 
 
 Dr. 
 
 Alfred Arnot, Berbicc. 
 
 Cr. (17) 
 
 18— 
 Jan. 16 
 " 27 
 
 Aeot. faTor J. Brown 
 Draft on Toules&W;an 
 
 D3 
 D4 \ 
 
 2500 
 910 
 
 I 
 
 IS- 1 
 Tiio. 10 
 
 i 
 
 ait9 
 
 
 Mdee. per Christina 
 
 Dr. 
 
 William 
 
 ON. 
 
 Cr. (18) 
 
 18— 
 Jan. 13 
 Feb. 1 
 
 n Bales Sbirtinc* 
 Mercban<liM 
 
 1 
 
 D2 
 D5 
 
 507 
 1115 
 
 60 
 
 77 
 
 37, 
 
 IH— 
 
 Feb. 1 
 
 $ 
 
 1623 
 
 
 Hia Note due ith May 
 
 Dr. 
 
 George C. Naylor. 
 
 Cr. (19, 
 
 18— 
 Jan. IS 
 Feb. 8 
 Mar. 12 
 
 Or. on OUrera M Co. 
 Consjt. Defree 4 Co. 
 Farm in Watertown 
 
 D3 
 D5 
 DIO 
 
 500 
 2200 
 6550 
 
 9250 
 
 1 18- 
 00, Feb. 6 
 00 Mar. 12 
 oo: 
 
 Cadi 
 
 DepOfit Bk. Republic 
 
 CI 
 DIO 
 
 500 
 8750 
 
 i 
 
 or 
 
 
 
 00 
 
 1 
 
 
 $ 
 
 9:^50 
 
 1 
 
 
 Mtit. In posiin;, errors occasionanj occur, such a" ' r creditinit one person or account r 
 
 enteriniC the sum too Lir^e or too small ; omittini; enf "t. or postinj; them twice, ic. 
 
 •■• diaeoTerc'l. ihej miut be immediately corrected, nu, >j .i .< i.^uure or interlincitioQ, is that « 
 
 • *an iBipiciouj appeaiaaee, but by an entrj, eiplanatorj of the miatake, on the Day Book, and from 
 
 (56) 
 
 poeted 
 
 Db. 
 
 LEDGER. 
 Olivera & Co. 
 
 18— 
 
 1091 20' i Jan. 18 
 
 Mar. 5 
 
 Or. far. 0. C. Naylor 
 Cash 
 
 D3 
 
 C5 
 
 Cr. (20) 
 
 500 00 
 594 20 
 
 1094 20 
 
 Dr. 
 
 18— I 
 
 Jan. 23 H. Underwood 
 
 " 27,Pero3&Co. Premium 
 
 Feb. 2 Present. Capt. King 
 " " Life Ins. Premium 
 
 Mar. 31 Expense, Int.. &o., 4c. 
 " " G. N. Comer, Net Profit 
 
 D3 
 
 C2 
 
 C2 
 
 D5 
 
 D13 
 
 D13 
 
 Profit & Loss. 
 
 Cr. (21) 
 
 225 00 
 
 99 
 
 00 
 
 18 
 
 150 
 
 232|00 
 
 2195 1 91 
 
 886845 
 
 11090:.35 
 
 18 — I I 
 
 Mar.l9jMdae. Co. B. & H. p. 'd 10 
 
 31 Merchandise, &c., &0. ;D 13 
 
 3(H 
 11386 
 
 11690 
 
 17 
 18 
 
 35 
 
 Dr. 
 
 18— 
 Jan. 26 
 Mar ,31 
 
 Estate £. Erana 
 Do. Do. 
 
 Exchange Bank Stock. 
 
 D4 
 D12 
 
 » 
 
 7500 
 300 
 
 00 
 00 
 
 ooj 
 
 18- 
 Mar. 3 
 " 31 
 
 7800 
 
 
 Dividend 
 Estate £. Evans 
 
 Dr. 
 
 Estate of the late Edward Evans. 
 
 18— 
 Mar 31 
 (( (( 
 
 Paid to Heirs 
 House at Waltham 
 Trust Property 
 
 C6 
 
 D12 
 
 D12 
 
 «! 
 
 1375 
 
 45 
 
 21000 
 
 22420 00 
 
 [!1^ 
 OOjJan. 26 
 00 
 00 Mar.31 
 
 Trust Property 
 Do. Do. 
 Inoome 
 
 Cr. (22) 
 
 C5 
 D12 
 
 300 
 7500 
 
 7800 
 
 00 
 00 
 
 00 
 
 Cr. (23) 
 
 D4 
 C 1 
 !D12 
 
 $ 
 
 21000 
 
 1000 
 
 420 
 
 00 
 00 
 00 
 
 22420 00 
 
 Dr. 
 
 House and Land at Waltham. 
 
 18- 
 
 Jan. 26 
 
 " 31 
 
 Estate E. Erans 
 B. M. Fire Ins. Co. 
 
 
 
 
 18- 
 
 D4 
 
 9500 
 
 00 
 
 Feb. 2 
 
 D4 
 
 195 
 
 00 
 
 Mar.31 
 
 $ 
 
 
 i 
 
 ! 
 
 (( <( 
 
 9695 00 ; 
 
 J. Holmes, Rent 
 Estate E. Erans 
 Do. Do. 
 
 (57) 
 
 Cr. (24) 
 
 CI 
 D 12 
 
 150 00 
 
 45*00 
 
 9500,00 
 
 9695 00 
 
■ n 
 
 ill 
 
 Dr. 
 
 BOOK-KEEPma. 
 Western R. R. Stock. 
 
 Cb. (25) 
 
 18— 
 
 Jan. 26' Estate E. Evtiia 
 Mar.31 Do. Do. 
 
 D4 
 
 D 12 
 
 |118- I 
 300000; Mar. 3^DlTidend 
 12o!o0 " 31 but«£.£T»iii 
 
 3120 001 
 
 C5 
 D12 
 
 120 00 
 3000 00 
 
 3120 
 
 00 
 
 Dr. 
 
 Farm in 
 
 Watertown. 
 
 
 Cr. (26) 
 
 18— 
 Jan. 29 
 Feb. 13 
 Mar.31 
 
 Ez'n. C. Newball 
 W. Wood, BepaiM 
 Profit 
 
 D4 
 
 C4 1 
 D13 
 
 6000 
 175 
 
 512 
 
 1 
 
 00' 
 
 00 
 
 00, 
 
 18— 
 Feb. 9 
 Mar. 12 
 
 A. BkHMi, Rent 
 
 Q. 0. NaylOT , 
 
 C3 
 D 10 1 
 
 1 
 137 00 
 
 6550 00 
 
 1 
 
 
 
 «| (5687 
 
 
 
 1 
 
 6687 
 
 00 
 
 Dr. 
 
 FiTCHBURo R. R. Stock. 
 
 Cr. (27) 
 
 18- 
 Jan. 29 
 Mar.31 
 
 Ez'n C. N««UU 
 Do. Do. 
 
 
 
 
 18— 
 
 
 D4 
 
 4000 
 
 00 
 
 Mar. 
 
 3 
 
 D13 
 f 
 
 160 
 
 00 
 
 00 
 
 1 
 
 « 
 
 31 
 
 4160 
 
 1 
 
 DiTidead 
 AppniMdM 
 
 C5 
 D12 
 
 160 00 
 
 4000 
 
 4160 
 
 00 
 
 00 
 
 Dr. 
 
 Expense. 
 
 Cr. (28) 
 
 18- 
 
 
 
 
 
 18— 
 
 Jan. 3 
 
 Fitting up Store, &0. 
 
 C2 
 
 550 
 
 00; 
 
 Feb. 19 
 
 u 22 
 
 Eliok In*. Co. 
 
 D3 
 
 111 
 
 00 
 
 " 23 
 
 Feb. 
 
 Clerk, ko. 
 
 C2,4 
 
 225 
 
 00 
 
 Mar.31 
 
 March 
 
 B«nt, *e. 
 
 C6 
 
 910 
 
 25, 
 25 
 
 
 
 
 • 
 
 1796 
 
 
 Conagt. Defreo k Co. 
 Do. Quisey.Duie kCo. 
 Profit k LoM to b*l. 
 
 D7 
 
 15 
 
 D8 
 
 11 
 
 D13 
 
 1769 
 
 f 
 
 1796 
 
 50 
 75 
 00 
 
 25 
 
 Dr. 
 
 Suspense. 
 
 Cr. (29) 
 
 18— 
 
 Mar.31 n. e. x. L. lu. Co. 
 
 D12 
 
 8000 
 
 00 
 
 18- 
 Feb. 2 
 
 Lifelni. Potky 
 
 D5 
 
 8000 
 
 00 
 
 Dr. 
 
 Consignment from Defree A Co. 
 
 Cr. (30) 
 
 18— 
 
 
 
 
 
 
 18— 
 
 
 
 
 
 Feb. 6 
 
 Freight, *e. 
 
 D5 
 
 300 
 
 00 
 
 Feb. 8 
 
 a. C. NkjkR 
 
 D5 
 
 2200 
 
 00 
 
 u u 
 
 Drajageaad Labor 
 
 C2 
 
 6 
 
 25 
 
 « 13 
 
 Wm. Hohnet 
 
 D6 
 
 800 
 
 00 
 
 *« 19 
 
 Acoonnt SiUm 
 
 D7 
 • 
 
 &493 
 
 75 
 00 
 
 « 19 
 
 Felix ZatiDt 
 
 D7 
 
 2800 
 
 00 
 
 
 
 5800 
 
 J 
 
 
 ♦ 
 
 5800 
 
 00 
 
 (58) 
 
 7 
 
 i 
 
 ^ 
 
 Dr. 
 
 LEDGER. 
 Defree & Co., New Orleans. 
 
 Cr. (31) 
 
 18— 
 Feb. f) 
 Mar. 15 
 
 Draft far. F. Tatlook 
 Mj Dft. oc F. Zahnt 
 
 $ 
 
 D5 
 
 DIO 
 
 1800 
 3243 
 
 1 
 
 00: 
 25 
 
 25 
 
 18— 
 Feb. 19 
 
 6043 
 
 
 Net Salea 
 
 $ 
 
 D7 
 
 5043 
 
 $; 5043 
 
 25 
 
 25 
 
 r 
 
 )r. 
 
 
 Inferest. 
 
 
 18- 
 
 
 
 
 
 18— 
 
 ■" 
 
 Feb. 12 
 
 M. Lorering 
 
 D6 
 
 17 
 
 71 
 
 Mar. 16 
 
 Felix Zahnt'a Note 
 
 « 26 
 
 W. Holmea. digot. 
 
 D8 
 
 64 
 
 35 
 06 
 
 " 28 
 « 3] 
 
 J. Wood's Note 
 P. C Jenks, Lo&a 
 Profit & LoM to bal. 
 
 
 
 $ 
 
 82 
 
 
 
 Cr. (32) 
 
 DIO 
 
 27 
 
 27 
 
 Dll 
 
 7 
 
 88 
 
 C5 
 
 6 
 
 00 
 
 D13 
 
 $ 
 
 41 
 
 91 
 
 82 
 
 06 
 
 Dr. 
 
 Consignment from Quincv, D.\ne & Co. 
 
 Cr. (33) 
 
 18- 
 
 Feb. OjDrayage. &o. 
 ** 23 Acoount Sales 
 
 C4 
 D8 
 
 $ 
 
 1 
 
 6 
 2213 
 
 1 
 50 
 00' 
 
 Feb. 13 
 
 " 22 
 
 2220 
 
 
 Wm. Holmea 
 
 Shipt. to London 
 
 Dr. 
 
 » Shipment to Philadelphia. 
 
 D6 
 
 D8 
 
 950 00 
 1270 00 
 
 2220 
 
 00 
 
 Cr. (34) 
 
 18— 
 Feb. 14 
 
 Mar.31 
 
 Merchandise 
 Freight, &c. 
 Profit 
 
 
 
 
 18- 
 
 D6 
 
 2877 
 
 12 
 
 Mar. 1 
 
 C4 
 
 171 
 
 00 
 
 
 D13 
 
 492 
 
 88 
 00 
 
 
 3041 
 
 
 Felix Zabnt 
 
 D9 
 
 $ 
 
 3041 
 
 00 
 
 3041 1 00 
 
 Dr. 
 
 Life Insurance. 
 
 Cr. (35) 
 
 18— 
 Feb. 2 
 
 N, E. M. PoUcj 
 
 D5 
 
 8000 
 
 00 
 
 18— 
 Mar.31 
 
 Suspense 
 
 D12 
 
 8000 
 
 00 
 
 Dr. 
 
 Consignment from Vaughn Lloyd. 
 
 Cr. (36) 
 
 18- 
 
 Feb. 15 
 
 " 26 
 
 Mar. 2 
 
 Duties, &0. 
 Labor, &e. 
 Aooount Sales 
 
 
 
 
 18— 
 
 D7 
 
 650 
 
 00 
 
 Feb. 28 
 
 C4 
 
 26 
 
 30 
 
 (( (( 
 
 D9 
 
 7007 
 
 20 
 
 50i 
 
 1 
 
 
 $ 
 
 7083 
 
 
 Louis J. Ripley 
 Do. Do. 
 
 D8 
 C3 
 
 500000 
 2683 50 
 
 7683 50 
 
 (69) 
 
 m 
 
Dr. 
 
 BOOK-KEEPING. 
 Shipment to St. Thomas. 
 
 Cr. (37) 
 
 18— 
 Feb. 17 
 
 Mjhtit 
 
 D7 
 
 8187 
 
 50 
 
 18— 
 Mar.ai 
 
 BalADM to new acot. 
 
 $ 
 
 D12 
 
 8187 
 
 50 
 
 Dr. 
 
 
 Elias P 
 
 Young. 
 
 
 Cr. (38) 
 
 18— 
 Feb. 17 
 
 — Siupt. to St. Thomai 
 
 D7 
 
 1 
 8187 50 
 
 |18- 
 Feb. 17 
 " 20 
 
 On M. Sb. to St. Tbom. 
 Hii Kot« due 24th April 
 
 D7 
 D7 
 
 6875 
 1312 
 
 00 
 50 
 
 
 
 $ 
 
 8187,50 
 
 
 8187 
 
 50 
 
 Dr. 
 
 Felix Zahnt 
 
 Philadelphia. 
 
 Cr. (39) 
 
 18— 
 
 Feb. 19 Consgt. Defree & Co. 
 Mar. 1 NetSkleimyCouct. 
 
 D7 
 D9 
 
 $ 
 
 2800 
 3011 
 
 00 
 
 00 
 
 00 
 
 jl8- 
 Mar.l5 
 " 16 
 
 De&ee & Co. 
 
 Uij Note duo 13th M>7 
 
 DIO 
 DIO 
 
 3243 
 2597 
 
 25 
 75 
 
 
 
 5841 
 
 
 $ 
 
 5&il 
 
 00 
 
 Dr. 
 
 Commission. 
 
 Cr. (40) 
 
 18— 
 
 
 
 
 
 118- 
 
 
 
 1 
 
 Alar .31 
 
 Fnfit to b&lance 
 
 / 
 
 D13 
 
 729 
 
 67 
 
 Feb. 19 
 
 « 23 
 
 Mar. 2 
 
 1 
 
 Coa«gt- Dcfree & Co. 
 Conegt. Quine7,I>.&Co. 
 CoQHt. T. Uojd 
 
 D7 
 D8 
 D9 
 
 290 00 
 
 55 50 
 
 384 17 
 
 
 
 «, 
 
 729, 67j 
 
 
 
 $ 
 
 729,67 
 
 Dr. 
 
 Guaranty. 
 
 Cr. (41) 
 
 18— 
 Mar.31 
 
 Proat to bftUne* 
 
 / 
 
 D13 
 
 325 
 
 50 
 50 
 
 18— 
 Feb. 19 
 " 23 
 Mar. 2 
 
 Consgt. De&ee & Co. 
 Consgt. Qainc7,D:ftCo. 
 Consgt. V. Uoji 
 
 D7 
 D8 
 D9 
 
 145 
 
 65 
 
 125 
 
 00 
 50 
 00 
 
 
 
 9 
 
 325 
 
 
 $ 
 
 325 
 
 50 
 
 Dr. 
 
 Vaughn Lloyd, Glasgfow. 
 
 Cr. (42) 
 
 18— 
 Feb. 21 
 Mar.31 
 
 Ac. R. Sluk, £300 
 Balance to new acct. 
 
 D7 
 D12 
 
 • 
 
 3875 
 2622 
 
 55 
 
 48, 
 
 03 
 
 18— 
 Mar. 2 
 
 6498 
 
 
 N«t8«l«Conigt. 
 
 D9 
 
 6498 
 
 &i98 
 
 03 
 
 03 
 
 (60) 
 
 Dr. 
 
 LEDGER. 
 Bank of the Republic. 
 
 Cr. (43) 
 
 18— I 
 
 Feb. 19 Deposit 
 
 " 26 ; Discount W. Holmes 
 
 28 
 
 Deposit 
 
 March 
 " 12 
 
 Balance 
 
 G. C. Naylor 
 
 C4 I 
 
 D8 
 
 04 \ 
 
 2000 
 3024 
 3000 
 
 8024 
 
 18— 
 00' Feb. 22 
 
 40jj " 28 
 00 I 
 
 40 
 
 DIO 
 
 $, 
 
 5524 40; 
 8750. OO' 
 
 14274,40 
 
 Cash Account 
 Balance 
 
 Mar. 5 Quincy, Dane & Ce. 
 " 1(5, Cash Account 
 
 " 24 
 « 31 
 
 J. Wales 
 Balance 
 
 C3 
 
 2500 
 6524 
 
 8024 
 
 00 
 40 
 
 40 
 
 DU { 
 
 2549 
 
 C5 
 
 3000 
 
 Dil 
 
 200<j 
 
 DI2! 
 
 1 
 1 
 
 6725 
 
 $ 
 
 14274 
 
 17 
 00 
 00 
 23 
 
 40 
 
 Dr. 
 
 Shipment to London. 
 
 Cr. (44) 
 
 l&- 
 Feb. 22 
 
 My one third 
 
 D8 
 
 4020 00 
 
 18- 
 Mar.31 
 
 Balance to new acct. 
 
 D12 
 
 4020 
 
 00 
 
 Dr. R. & H. Parkinson, London and Manchester. Cr. (45) 
 
 18— 
 Feb. 22 
 Mar.23 
 " 31 
 
 — Shipt to London 
 Dft. on Smyth k Hall 
 Balance to new acct. 
 
 
 
 
 18— 
 
 D8 
 
 4020 
 
 00 
 
 Mar. 6 
 
 Dll 
 
 2904 
 
 00! 
 
 " 19 
 
 D12 
 
 646 
 
 S3 
 83 
 
 i 
 
 
 $ 
 
 7570 
 
 
 My - Mdse. in Co. 
 Mdse. Co. R. & H. F. 
 
 D9 
 DIO 
 
 3033 
 3937 
 
 33 
 50 
 
 7570 83 
 
 Dr. 
 
 George A. 
 
 Thompson. 
 
 
 Cr. (46) 
 
 18— 
 Feb. 22 
 
 —Shipt. to London 
 
 D8 
 
 $ 
 
 4020 
 
 0(1 
 00 
 
 !8— 
 Feb. 22 
 Mar. 12 
 
 Cash 
 Cash 
 
 C3 
 C5 
 
 3000 
 1020 
 
 00 
 00 
 
 
 
 4020 
 
 
 $ 
 
 4020 
 
 00 
 
 Dr. 
 
 Real Estate at Chelsea. 
 
 Cr. (47) 
 
 18— 
 Feb. 22 
 Mar. 12 
 « 31 
 
 J. Fenno, Deed 
 Laying out into 8 Lots 
 Profit to balance 
 
 C4 
 C6 
 D13 
 
 6000 
 
 65 
 
 1935 
 
 00 
 00 
 00 
 
 00 
 
 1&- 
 
 Mar.23 
 
 " 31 
 
 
 
 8000 
 
 
 T. Hall, 5 Lota 
 3 Lots valued li 
 
 Dll 
 D12 
 
 $ 
 
 5000 00 
 3000 00 
 
 8000 
 
 00 
 
 (61) 
 
 I J 
 
 . ill 
 
BOOK-KEEPING. 
 
 <l 
 
 Dr. Merchandise Co. R. 
 
 & H. P. 
 
 ( 
 
 Cb. (48) 
 
 18— ] 
 
 Mar. 2 Freigbt, Ice. 
 " 6 My half, £750 
 " 19 R. & H. P. ft Profit 
 
 C6 , 
 
 D9 
 
 DIO 
 
 1 ' 
 
 375 00 
 
 363.3 3:j 
 
 424l!67 
 
 118- 
 Mar.l9 
 
 XetSalM 
 
 C5 
 
 8250 
 
 00 
 
 
 
 $1 
 
 8250 00 
 
 
 
 •1 
 
 8250 00 
 
 Dr. 
 
 Lo.VN Account. 
 
 Cr. (49) 
 
 18— 
 Mar. 19 
 
 p. C. J«ak«, Unt 
 
 C6 
 
 2500 
 
 j 
 00 
 
 18— 
 Mar.31 
 
 p. C. JenkSi retuned 
 
 C5 
 
 2500 00 
 
 Note. Some merchants adopt the plan of having a double column on their 
 Ledger, for the purpose of keeping all the bills receivable in the inner column 
 until paid, so that they shall be separate from the cash or other credits, and 
 thereby show at a glance how the debtor's account stands ; that is, the total 
 debit, the total credit, and liow much of it is in notes not yet matured. For 
 example : A merchant sold to A. 13., in the month of January, merchandise 
 to the amount of $5000 on six months' credit. In the same month A. B. paid on 
 account $1000, and on the Ist February gave his averaged note for the balance. 
 In February there was charged to A. B. $5000, and he paid in during the month 
 $2000, and on the 1st March gave his averaged note for the balance. The same 
 thing goes on for the next four months. On the seventh month A. B. fails ; 
 the merchant is then astonished to find that there are notes of A. B.'s, not yet 
 matured, to the amount of $19,000. It was the merchant's full int^tion not to 
 give A. B. a larger credit at any one time than $12,000; but in cgiisequence of 
 the prompt cash payments, and the account being balanced up each month, it 
 was overlooked. Had he adopted the plan of keeping the notes in the inner 
 column, he might have saved $7000. 
 
 To ascertain the Amount of Stock on hand. 
 
 Ther« have been a great many plans (each set forth by its projector as 
 infallll/1'2) whereby a merchant might tell the amount of merchandise on hand 
 without having to go through the process of " taking stock ; " but I have 
 never seen any which for a general business was in the slightest degree reli- 
 able. One plan is to give the Merchandise account credit for the goods sold at 
 cost only, and crediting the Profit :md Loss account for the estimated profit. 
 This might answer where the goods were in unbroken packages, but not in a 
 mixed business. Some of the goods may have deteriorated in value ; piece 
 goods when once cut, ullage casks and cases, are never worth as much as in the 
 original package. Then, again, there is no protection against peculation. There 
 may be a general idea that there ought to be about such an amount of mer- 
 chandise on hand ; but when it falls materially short of that expectation, there 
 is no certainty of discovering the leak, and frequently innocent parties fall 
 under unjust puspicion. Accurate book keeping, careful stock-taking at its 
 actual valur, Regardless of cost, (that is, such a price as the article can be 
 purchased for hi the market,) and thorough watohfulness on the part of the 
 merchant, «re better than all the fantastical " infallibilities " ever devised. 
 
 (62) 
 
 Drs. 
 
 LEDGER. 
 
 TRIAL BALANCE. 
 
 January, 18 — 
 
 Crs. 
 
 Differences. 
 
 
 10983 63 
 12500 00 
 
 10255 
 
 457 
 
 108^8 
 
 3198 
 
 475 
 
 300 
 
 300 
 
 3675 
 
 00 
 08 
 82 
 80 
 00 
 00 
 00 
 00 
 
 Amounts. ^^^^^ 
 
 507 
 600 
 
 243 
 
 7500 
 
 9695 
 3000 
 6000 
 4000 
 661 
 
 60 
 00 
 
 99 
 00 
 
 00 
 00 
 00 
 00 
 00 
 
 % 85110 92 
 
 20651 
 
 12500 
 
 10255 
 
 7148 
 
 13260 
 
 5958 
 
 975 
 
 687 
 
 550 
 
 4153 
 
 450 
 
 2000 
 
 2287 
 
 950 
 200 
 3449 
 507 
 500 
 
 243 
 
 7500 
 
 9695 
 3000 
 6000 
 4000 
 661 
 
 48 
 00 
 00 
 95 
 00| 
 80 
 00 
 00 
 00 
 00 
 00 
 00 
 50 
 
 117584 
 
 00 
 
 ool 
 
 68! 
 60 
 00 
 
 99 
 00 
 
 00 
 00 
 00 
 00 
 
 00 
 
 00 
 
 1 
 
 2 
 3 
 
 4 
 5 
 6 
 7 
 8 
 9 
 10 
 11 
 12 
 13 
 14 
 15 
 16 
 17 
 18 
 19 
 20 
 21 
 22 
 23 
 24 
 25 
 26 
 27 
 28 
 
 Names. 
 
 Amounts. Differ'ces. 
 
 Merchandise 
 Ship Sultana 
 Real Estate at BrookUne 
 Cash 
 
 Bank of Commerce 
 Bills Receivable 
 Albert Knowles 
 Robert Vanevar 
 Samuel T. Gordon 
 Rollins Bro's & Co. 
 Henry Underwood 
 Bills Payable 
 William Jones 
 Quincy, Dane & Co. 
 Daniel Davis 
 George N. Comer 
 Alfred Amot 
 William Smithson 
 George C. Nay lor 
 Olivera & Co. 
 Profit & Loss 
 
 Exchange Bank Stock 
 
 Estate of the late Edw'd Evans 
 
 House and Land at Waltham 
 
 Western R. R. Stock 
 
 Farm in Watertown 
 
 Ktchburg R. R. Stock 
 
 Expense 
 
 9667 85 
 
 6691 
 2401 
 2760 
 
 500 
 
 387 
 
 250100 
 
 478100 
 
 450 
 9940 
 2600 
 3958 
 
 950 
 
 60600 
 
 34491 
 
 87 
 18 
 00 
 00 
 00 
 
 00 
 OOj 
 00 
 42 
 00 
 00 
 68 
 
 500 
 
 00 
 
 22000 00 ! 22000 
 
 7940 
 
 312 
 
 3958 
 
 50400 
 
 00 
 50 
 42 
 
 00 
 
 500 
 
 00 
 
 00 
 
 $ 117584 
 
 .Proof.. 
 
 Amt. of D. B. Add'ns $101093.18 
 " " Cash received 6798.95 
 4t (( «t paid 6091.87 
 
 00 
 
 $117584.00 
 
 85110 92 
 
 ■ 'i I- 
 
 (63) 
 
Drs. 
 
 BOOK-KEEPING. 
 
 TRIAL BALANCE. 
 
 February y 18— 
 
 Crs. 
 
 I 
 
 Differences. 
 
 f 171304 
 
 - 10000 00 
 
 875.5' 00 
 
 a3tt 09 
 
 -652 70 
 
 -11434 67 
 
 475 00 
 
 300 00 
 
 \\ 
 
 V.i 
 
 2200 00 
 
 694 20 
 
 — 625 99 
 
 7500 00 
 
 "" 9545 00 
 3000 00 
 
 - 6038 00 
 4000 00 
 
 — 858 75 
 
 82 06 
 
 I ' 
 
 2548 12 
 
 8000 00 
 
 8187 50 j 
 
 2800 00 
 
 3875 55 
 5524 40 I 
 4020 m\ 
 4020 OOi 
 1020 00 1 
 6000 00 
 
 Amounts. Lfdijer 
 I Page, 
 
 4044 12 
 
 500 00 
 
 22385 78 
 
 6120 001 
 
 12074 621 
 
 2630 
 
 500 
 
 200 
 
 1115 
 
 2200 
 
 1094 
 
 382 
 
 175 
 
 225 
 
 5800 
 1800 
 
 82 
 2220 
 254S 
 
 8000 
 676 
 
 8187' 
 81871 
 2800 
 
 00 
 00 
 
 oo 
 
 ■r-t 
 // 
 
 00 
 20 
 00 
 
 00 
 00 
 
 3875 
 
 00 
 
 00| 
 OOj 
 
 ooi 
 
 ool 
 
 30! 
 50l 
 5(> 
 
 00 ; 
 
 55' 
 
 4'/^ 
 
 4020 m 
 tiOOO 00 
 
 $ 114108 67 j 123907 92 
 
 1 
 2 
 3 
 4 
 5 
 6 
 7 
 8 
 9 
 10 
 12 
 13 
 14 
 16 
 18 
 19 
 20 
 21 
 22 
 23 
 24 
 25 
 26 
 27 
 28 
 29 
 30 
 31 
 32 
 33 
 34 
 35 
 36 
 37 
 38 
 39 
 40 
 41 
 42 
 43 
 44 
 45 
 46 
 47 
 
 Names. 
 
 I' 
 
 Merchandise i 
 
 Ship Sultana 
 
 Real Estate at Brookline 
 
 jCash 
 
 I Bank of Commerce 
 
 j Bills Receivable 
 
 (Albert Knowles 
 
 ; Robert Vauevar 
 
 I Samuel T. Gordon 
 
 Kollins Bros. & Co. 
 
 Bills Payable 
 
 I William Jones 
 
 ; Quincy, Dane & Co. 
 
 Georg-e N. Comer 
 
 William Smith son 
 
 George C. Naylor 
 
 Olivera & Co. 
 
 Profit & Loss 
 
 Exchange Bank Stock 
 
 Estate of the late Edw'd Evans 
 
 House and Land at Waltham I 
 
 Western R. R. Stock 
 1 F'arm in Watertown I 
 
 Fitchburg R. R. Stock 
 
 Expense 
 
 Suspense 
 
 Con8ij,Tim't from Defree &, Co. 
 
 Delree & Co. 
 j Interest 
 
 I Cons't from Quincy .Dane & Co. 
 I Shipment to Philadelphia 
 Life Insurance 
 
 Consigns from Vaughn Lloyd 
 Shipment to St. Thomas 
 ;EIias P. Young 
 Felix Zahnt 
 [Commission 
 'Guaranty 
 Vaugljn Lloyd 
 Bank of the Republic 
 Shipmentto London 
 R. & H. Ifcf^insoh 
 George A^Vhompson 
 Real E8tate\t Chelsea 
 
 Amounts. Differ'cea 
 
 ia314 
 
 2500 
 
 20U0 !oo! 
 22504117 
 16.326] 12! 
 
 3838 751 
 
 30000! 
 
 3675 00 
 lliHO 55 
 
 2090 75 
 
 1623 37' 
 500 00 
 
 17250,55 
 
 31250 
 
 554U! 17 
 
 50200 00 
 
 22000 
 
 5043 
 2220 00 
 
 7683 50 
 
 i 
 8187 50j 
 
 345 50 
 200,50, 
 
 2500 00' 
 
 3000 
 
 Drs. 
 
 LEDGER. 
 
 TRIAL BALANCE. 
 
 March, 18 — 
 
 Crs. 
 
 Differences. Amounts. Ledger 
 
 2468 87 
 70(X) 00 
 
 10S8;> 00 
 
 2(i0 21 
 
 3'.)0<) 25 
 
 18403 57 
 
 li 
 
 Page. 
 
 .Proof.. 
 
 Amt. of D. B. Add'ns $70017.97 
 " " Cash received 22385.78 
 " " " paid 22504.17 
 
 $123907.92 
 
 8000 00 
 3243 25 
 
 7007 20 
 
 345 50 
 200 50 
 
 32182 
 
 7200 00 , 
 
 ! I 
 
 9545 00 
 2880 00 
 1 • 
 3840 00 
 1769 00 
 
 4191, 
 8000 00| 
 8187 50 
 
 6725 23 
 
 4020 00 
 
 629] 
 
 2130 
 
 19672 
 
 7250 
 
 727^ 
 
 402.5 
 312 
 
 5549 
 2{KJ 
 
 6550 
 
 1375 
 
 1065 
 
 00 
 
 $ 96579 36 
 
 910 
 3243 
 
 7007 
 3041 
 
 8750 
 
 45 
 
 00' 
 
 ;{2 
 
 00 
 
 90 
 
 55 
 
 50 
 17 
 00 
 00 
 
 00 
 
 2904 
 
 65 
 
 8250 
 2500 
 
 25 
 25 
 
 20 
 
 00 
 
 00 
 00 
 00 
 
 97905 59 
 
 1 
 
 3 
 
 4. 
 
 5. 
 
 6 
 
 7 
 
 9 
 
 12 
 
 13 
 
 14 
 
 16 
 
 19 
 
 20 
 
 21 
 
 22 
 
 23 
 
 24 
 
 25 
 
 26 
 
 27 
 
 28 
 
 29 
 
 31 
 
 32 
 
 34 
 
 35 
 
 36 
 
 37 
 
 39 
 
 40 
 
 41 
 
 42 
 
 43 
 
 44 
 
 45 
 
 46 
 
 47 
 
 48 
 
 49 
 
 Names. 
 
 Jlerehandise | 
 
 Ship Sultana 
 
 Heal Estate at Broofkliuc 
 
 Cash 
 
 ISank of Commerce 
 
 Bills Keccivable 
 
 Albert Kuowles 
 
 Sixmuel T. Gordon 
 
 liillR Payable 
 
 Will iam'.I ones 
 
 (iuiucy, Dane & Co. 
 
 George N. (Jomer 
 
 George C. Naylor 
 
 Olivera «& Co. 
 
 Profit & Loss 
 
 Exchange Bank Stock 
 
 Estate of the late Edw'd Evansl 
 
 House and Laud at Wsiltham i 
 
 AV'estern R. R. Stock ! 
 
 I"'arm in Watertown 
 
 lltchburg R. R. Stock 
 
 Expf^nse 
 
 Suspense 
 
 I )efree & Co. 
 
 Interest 
 
 Shipment to Philadelphia 
 
 liife Insunince 
 
 Consign't from Vaughn Lloyd 
 
 Shiprtient to St. Thomas 
 
 Flix Zuhnt 
 
 Commission 
 
 Guaranty 
 
 Vaugliu "Lloyd 
 
 Bank of the Republic 
 
 Shipment to London 
 
 R. & H. Parkinson 
 
 Georj^e A'. Thompson 
 
 Real Estate at Chelsea 
 
 Merchandise Co. R. »& H. P. 
 
 Loan Aocount 
 
 Amounts 
 
 Differ'ces. 
 
 5535 62 
 3000 00 
 
 39<.«i 45 
 250;(X> 
 475 (HI 
 300 00 
 
 8750 00 
 504120 
 304|l7i 
 30O1OO 
 
 120 00 
 
 6550 '00 
 
 160 00 
 
 40 15 
 3041 00 
 
 5841 00 
 3&4 17! 
 125 ;00 
 
 (H98|03' 
 
 in 
 
 12625 00 
 50000 00 
 
 20625 00 
 
 7549 17j 
 
 I 
 7570 'a3 
 
 1020, ooi 
 
 5000 00 
 
 8250 j 00 
 
 2500 00 
 
 512 
 
 8000 
 
 492 
 
 In 
 
 00 
 00 
 88 
 
 729 67 
 
 325 50 
 
 2622 48 
 
 646 
 
 .Proof.. 
 
 Amt. of D. B. Add'ns $58482.47 
 " " Cash received 19672.32 
 " " " paid 19750.80 
 
 83 
 
 $97905.59 
 
 i 
 
 (64) 
 
 6* 
 
 (65) 
 
BOOK-KEEPING. 
 
 STATEMENT. 
 
 Upon examining the foregoing set of books, I And that 
 
 The amount of assets at closing is <k2 762 "0 
 
 The amount of debts at closii^ is 23 S94 31 
 
 Net Capital 58,868.45 
 
 To which should be added, pro forma, the amount withdrawn 
 
 by 3Ir. Comer for his personal expenses 600.00 
 
 Nominal Capital 5U,4GS.45 
 
 The amount of assets at commencement was $-19 230.00 
 
 The amount of debts at commencement was 10 050.00 
 
 Nominal Capital 38,000.00 
 
 From which is to be deducted the loss on H. Underwood's 
 
 account, one of the assets, but good for only one half 225.00 
 
 Net Capital 38,375.00 
 
 To which is to be added 
 
 The amount of the legacy received from the estate of the 
 
 late Charles Newhall 12,000.00 
 
 Also, 
 
 The amount of net profit, after deducting the expenses 
 and losses incurred during the time engaged in this 
 business, 9093.45 59,468.45 
 
 BILLS RECEIVABLE BOOK. 
 
 There are several items, such as commission for care of trust property, 
 interest on capital and withdrawals, interest on bills receivable and payable 
 not due, and other things, which, in rendering a strictly accurate statement, 
 ought to have been considered, but which have been omitted here to simplify 
 the matter and save confusion in the minds of beginners. 
 
 Boston, 1st April, 18— 
 
 SIDNEY SLOAN, 
 
 Accountant. 
 
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BILLS PAYABLE BOOK. 
 
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 (68) 
 
 POSTING. 
 
 METHOD OF POSTING THE BILL BOOKS, WHEN THEY ARE 
 MADE THE BOOKS OF ORIGINAL ENTRY. 
 First Posting. 
 
 Bills Receivable are posted to the credit of the persons from whom, or the 
 accounts on which, they have been received. 
 
 Bills Payable are posted to the debit of the persons to whom, or the accounts 
 on which, they have been issued. 
 
 Second Posting. 
 
 Bills Receivable Is debited at the end of the month for the total amount of 
 bills received during the month. 
 
 Bills Payable is crediti-d at the end of the month for the total amount of 
 bills issued during the month. 
 
 There are several methods of keeping Bill Books. It is quite common to 
 havethem in one book, one half of the book commencing with Bills Receivable, 
 the other half, the other side up, commencing with Bills Payable ; but I thmk 
 it much preferable to keep them in separate books, and I would have the bind- 
 ings, or the labels on the backs at any rate, a quite distinct color from each 
 other. When the bill transactions are numerous, I am satisfied that the best 
 plan is to keep the Bill Books the same as a Day Book, entering them as 
 received and delivered, and then transferring them (as a memorandum only for 
 convenience of reference, to show, at a glance, the bills falling due in any 
 month) to books prepared like the Index to a Ledger, with several pages to 
 the names of each of the months in the year, in the place of the letters of the 
 alphabet, thus : — 
 
 Bills Receivable. 
 
 
 January. 
 
 
 Due. 
 
 Name. 
 
 Amount. 
 
 Remarks. 
 
 January. 
 
 
 
 
 
 
 
 February. 
 
 
 Due. 
 
 Name. 
 
 j Amount. 
 
 Remarks. 
 
 February. 
 
 16th. 
 27th. 
 
 Hiram Low 
 Nolan Reed 
 
 2000 00 
 760 00 
 
 Bk. Commerce, coll. 
 Bk. Commerce, coll. 
 
 
 
 
 March. 
 
 
 Due. 
 
 Name. 
 
 1 Amount. 
 
 Remarks. 
 
 March. 
 
 9th. 
 28th. 
 
 N. Goes 
 Joseph Wood 
 
 250 00 
 750 00 
 
 ; 1 
 
 Bk. Commerce, coll. 
 Bk. Commerce, coll. 
 
 
 And so on, Bills Payable being treated in the same way. 
 
 (69) 
 
 ii ; 
 If 
 
 II 
 
i' I 
 
 BOOK-KEEPING. 
 
 Annexed are examples of what T conr>eive to be the most approved forms 
 of Bills Keceivable and Bills Payable Books, Sales and Purchase Books, Day 
 and Check Books, each arranged as though the first month's business of the 
 foregoing set of books had b<'en kept in those separate books, instead of a Day 
 Book only, — the Cash Book in both cases being precisely the same,— from which 
 it will be seen that the original entries for a very extensive business can be 
 made on their appropriate books by different parties, and at once, without any 
 rewriting, be posted to their appropriate accounts on the Ledger, the lootings 
 of each book at the end of the month being carried to the debit or credit of 
 the account on the Ledger bearing its name, making the one debit or credit as 
 the case m;iy bo, equal in amount to all the separate debits or credits from that 
 book for the mouth. 
 
 I have placed these forms of books all together in this place, instead of 
 putting them under their separate heads iu the Appendix, as I at first 
 intended. 
 
 (70) 
 
 1 
 2 
 3 
 4 
 5 
 6 
 7 
 8 
 9 
 10 
 11 
 
 12 
 13 
 14 
 15 
 16 
 
 19 
 
 20 
 
 11 
 
 21 
 
 23 
 
 24 
 22 
 25 
 
 16 
 26 
 27 
 
 DAY BOOK. 
 
 Boston, 1st January, 18 — 
 
 Drs. 
 
 Crs. 
 
 Schedule of Assets. 
 Merchandise, per Stock Book 
 Ship Sultana, my iijths. Cost 
 Real Estate at Brookline, valued at 
 Cash, per Cash Book 
 Bank of Commerce, on deposit 
 Bills Receivable, per Bill Book 
 Albert Knowles 
 Robert Vanevar 
 Samuel T. Gordon 
 Rollins Bros. & Co. 
 Henry Underwood 
 
 Schedule of Debts. 
 Bills Payable, per Bill Book 
 William Jones 
 Quincy, Dane & Co. 
 Daniel Davis 
 
 George N. Comer, Net Capital 
 18th 
 
 owes 
 
 49,250.00 
 due 
 
 49,250.00 
 
 George C. Naylor, Dr. 
 
 For my Order on Olivera & Co., for 100 Tons 
 Pictou Coal @ 5.00 
 
 23d 
 
 Henry Underwood, Cr. 
 
 For Abatement to balance his account, he 
 
 having made a composition of 50 per 
 
 cent. 
 (See Bills Receivable Book.) 
 
 2fith. 
 
 Estate of the late Edward Evans, 
 For the following property in trust : — 
 House and Land at Waltham 
 75 Shares Exchange Bank Stock 
 30 " Western R. R. Stock 
 
 29th 
 
 Cr. 
 
 George N. Comer, (Legacy C. Newhall,) Cr. 
 
 For Farm in Watertown valued at 
 
 40 Shares Fitchburg R. R. Stock " " 
 
 (71) 
 
 12500 
 
 12500 
 
 10000 
 
 350 
 
 8000 
 
 2760 
 
 975 
 
 687 
 
 550 
 
 478 
 
 450 
 
 00 
 
 oo; 
 
 00 
 
 oo' 
 
 00, 
 
 oo' 
 
 oo| 
 
 00 
 
 00 
 00 
 
 500 
 
 225 
 
 9500 
 7500 
 3000 
 
 6000 
 4000 
 
 r9975 
 
 00 
 
 00 
 
 00 
 00 
 00 
 
 5300 
 
 2600 
 
 1800 
 
 950:00 
 
 38G00 00 
 
 00 
 
 00 
 00 
 
 500 
 
 225 
 
 20000 
 
 oo; 
 
 00: j 10000 i 00 
 
 00 
 
 00 
 
 00 
 
 00,1 79975 
 
 00 
 
 III 
 
Ill 
 
 :| I 
 
 I 
 
 
 If 
 "I 
 
 » ■* 
 
 •a 
 
 11 
 
 BILLS RECEIVABLE. 
 
 Boston, Ist Jamiary, 18— 
 
 Drs. 
 
 Crs 
 
 On Hand. 
 Hiram Low's Note, date 13th Aug., 6 moB., due 
 16th Feb. ^ 
 
 Nolan Reed's Note, date 24th Oct., 4 mos., due 
 27th Feb. 
 
 $ 
 
 Sd Jantiary, 18 — 
 
 Case, Wilson & Co., . cr. 
 
 For their Note, this date, 6 mos., due 6th 
 
 July, in full for Mdse. 
 
 — 22d 
 
 Bank of Commerce, dr. 
 For H. Low's Note, due 16th Feb., deposited 
 for collection 
 — 23d 
 
 Henry Underwood, cr. 
 
 For B. Dodd's Note, this date, 8 mos., due 
 
 26th Sept., being his composition of 50 
 
 per cent. 
 25th. - 
 
 
 Joseph Wood, ck. 
 For his Note this date, 2 mos., due 28th 
 March, exchanged for his accommo- 
 dation 
 - 26th 
 
 23 Estate of the late Edward Evans, Cr. 
 For John Todd's Note of 20th Oct., 8 mos., 
 due 23d June 
 . 30th. 
 
 Bank of Commerce, dr. 
 
 For Nolan Reed's Note, due 27th Feb., de- 
 posited for collection 
 
 2000 
 
 760 
 
 2760 
 
 00 
 
 00 
 00 
 
 1223 
 
 80 
 
 225 00 
 
 750 
 
 00 
 
 1000 00 
 
 3198 
 
 80 
 
 2000 00 
 
 760 00 
 
 2760,00 
 
 Each item (w loon u ecoTenieot after the entry i« made) U ported (s the debit or credit of the proper hcoount, and 
 Bill» Receivable 13 debited, at the end of (be month, for the total amount reoeived. and credited br the total aiDouut 
 delirered during the month. 
 
 (72) 
 
 I 
 
 3 
 
 12 
 
 17 
 
 I 
 
 ^ i 
 
 s " 
 
 a - 
 
 * i 
 
 J 8 
 
 1^ 
 
 BILLS PAYABLE. 
 
 Boston, \8t January, 18— 
 
 Drs. 
 
 Crs. 
 
 Former Issue. 
 
 Robert EUiott, my Note, 15th Sept., 6 mos., due 
 
 18th March ^ 
 
 S. C. Watts, my Note, 5th Dec, 8 mos., due 8th 
 
 Aug. 
 
 t 
 
 Sth Jamiary, 18— 
 
 SOAMES, SMYTHE & Co., DR. 
 
 For my Note of this date, 6 mos., due 11th 
 July, for Merchandise 
 __ 16th 
 
 Alfred Arnot, Berbice, Dr. 
 For my Acceptance his Draft, at 20 days' 
 sight, favor of James Brown 
 20th. 
 
 Robert Elliott, 
 
 For my Note of 15th Sept., given up 
 
 — Dr. 
 
 Or. 
 
 For my Note, this date, 3 mos., due 23d 
 April, in part to take up the above, 
 • —Mdse. to balance. (See Sales.) 
 24th. 
 
 ►-85 
 .S o " o 
 
 •2 " - g 
 
 « C 9 e 
 • "C— a 
 
 Real Estate at Brookline, dr. 
 For my Note this date, on demand, for 
 Premium of Insurance 
 25th. 
 
 Joseph Wood, -q^ 
 
 For my Note, this date, 2 mos., due 28th 
 March, exchanged for his accommo- 
 dation 
 
 12 
 
 2000 
 
 OOl 
 
 $ 2000 00 
 
 2000 00 
 3300 00 
 
 5.300 00 
 
 550 00 
 
 2500 
 
 710 
 
 00 
 
 130 
 
 00 
 
 00 
 
 750 00 
 
 4040 00 
 
 Bif^Pa^zizrtj^r «:iitL;'eVd"7t;' """ti i '^r *" "^^ "^^'^ "^ """*•* ^^ «>• ^-^ — ». -« 
 
 ueuivea ana oreojted at Um end of the month for the total amount redeemed or iMued. 
 
 5" C73J 
 
 
 
 rl 
 
 1 1 
 
 mvx 
 
 fil 
 
' I ¥1 
 
 SALES BOOK. 
 
 hi 
 
 : 'I I 
 
 IS 
 
 I. 
 
 I' 
 
 18 
 
 
 jBo9<on, 2d ./anwary, 18 — 
 
 DBS. Crs. 
 
 William Jones, 
 
 50 Rms. White Laid Letter 
 
 " " Wove «* 
 
 50 " Blue Laid " 
 50 " " Wove " 
 
 400 Gross Comer's Steel Pens, 
 
 e 12.50 
 2.629 
 2J25 
 2.372 
 
 JOO 100 100 100 
 
 Nos. 1, 2, 3, 4, @ .75 
 
 3d. 
 
 Case, Wilson & Co., 
 Merchandise 
 
 Of eouTM, in actual bniineM, eaeh artiel*, irith iti qnaatity, prie«, and 
 amount, would bo enumerated ; the; are omitted here merely for conran- 
 ienoe. The amount ii kept In the inner column for the reaeon that it will b« 
 posted from the Bill* ReoeiTahle Book. 
 
 13th 
 
 William Smithson, 
 Merchandise 
 
 .20th.. 
 
 Robert Elliott, 
 Merchandise 
 
 31 St. 
 
 10 ^ Rollins Bros. & Co., 
 Merchandise 
 
 125 
 131 
 112 
 118 
 
 300 
 
 1223 
 
 00 
 25 
 50 
 75 
 
 00 
 
 80 
 
 787 
 
 607 
 
 50 
 
 60 
 
 1290 00 
 
 3675 
 
 00 
 
 6260 10 
 
 Saeh item (a« ioon a* eoarealeat after the entry is ms4e) is potted to the debit of the proper aoeouat, and Mer- 
 ehandise is credited at the end of the month for the total amount. 
 
 All sales which are settled for, at or about the time of the sale, are kept in the inner column, to fare openia( 
 •ceounu in the Ledger with the purehasert. 
 
 Special accounts, such as goods told oa eommission, ke., are kept hi the inner column, so as to be separate tnm 
 ftmx evn lasu baadin. Wten nA trwurntimii m* numerous, It majr b« d«iix»ble to k««p » C«ouiuuioB 8*1m B«o^ 
 
 (74) 
 
 INVOICE OR PURCHASE BOOK. 
 
 14 
 
 1^ 
 
 •s 
 
 3 
 
 17 
 
 Boston, 5th January, 18 — 
 
 Drs. 
 
 Crs. 
 
 QuiNCY, Dane & Co., 
 
 16 Hhds. N. O. Sugar 
 
 cwt. qrs. lbs. 
 Gross 245 16 
 
 Tare 
 Net 
 
 17 1 12 
 227 3 4 
 
 200 Boxes Malaga Raisins 
 
 @ $7.50 
 2.25 
 
 8th. 
 
 SOAMES, SMYTIIE & CO., 
 
 Merchandise 
 
 Each article, with its quantity, price and amount, would. In actual busi- 
 ness, be enumerated ; the j are omitted here for conTenience, This amotmt 
 is kept in the inner column, as it will be posted &om the Bills Payable and 
 Cash Books. 
 
 10th 
 
 Alfred Arnot, Berbice, 
 Merchandise 
 
 1708 
 450 
 
 853 21 
 
 2158 
 
 3449 
 
 42 
 
 5C08 
 
 68 
 
 10 
 
 Each item (as soon as convenient after the entry is made) is posted to the credit of the proper account, and Uei* 
 •bandise is debited with the total amount at t'uo end of the month, 
 Ib taking off the Proof of the Trial Balance from these different books, it will be found that the 
 
 Day Book addition is | 79,975.00 
 
 Bills BeceiTable, received 3,198.80 
 
 " " delivered 2,760.00 
 
 Bais Payable, issued 4,(H0.00 
 
 " " redeemed 2,000.00 
 
 Sales Book, addition 6,260.10 
 
 Purchase Book, addition 6,608.10 
 
 Check Book, withdrawn 2,401.18 
 
 Cash received 6,798.95 
 
 Cash paid 6,691.87 
 
 120,331.00 
 which is too much, for the reason that when we received the Note from Elliott, we 
 
 debited Bills Payable $2000, and credited Mdse. $1290, and Bills Payable $710. 
 
 Sotbatwehaveonly debit and credit for $2000, and not $2000 twice over . $2000 
 
 n« same with Joseph Weed's Note 750 2,750.00 
 
 PmooF I117.5M.00 
 
 (75) 
 
 
 i 
 
 ii'«I 
 
 
CHECK BOOK. 
 
 :l! 
 
 4> 
 
 Thia oounUrpsrt is reMincd, and it th« oii(t 
 nat entrj to be posted to t]>« Uiftt. 
 
 No.l. l2thJanA8— 
 
 Duties on Sugar 
 from Berbice 
 
 No. 2. \2thJan.\^f— 
 
 Capt. Gale, 
 Freight, tfc, on 
 Sugar /r'm Berbice 
 
 No. 3. 22rl Jan. 18— 
 Eliot Fire Ins. Co. 
 
 Insurance o/Mdse 
 
 in store 
 
 L.F. 
 
 28 
 
 No. 4. 27tkJan.\f^— 
 Peros (f Co's Exc. 
 on Y'oule (f Wyans, 
 remitted to A. 
 Arnot, Berbice 
 Premium in Cash. 
 
 No. 5. 31«f Jrm. 18— 
 Bos. M.Fire Ins. Co. 
 
 Insur^ce of house 
 
 at Waltham 
 
 17 
 
 82800 
 
 317 
 
 50 
 
 11100 
 
 24 
 
 Ata put i« cut oot to b« pratMitcd M the bank. 
 
 $828.00 Boston, \2th Jaminry, 18 — 
 
 Cashier of the Bank of Commerce, 
 
 Pay to Duties, or bearer, 
 
 Eight hundred and twenty-eight 100 Dollars. 
 
 No. 1. George X. Comer. 
 
 $317.50 • Boston, 12th January, 18— 
 
 Cashier of the Bank of Commerce, 
 Pay to dipt. Gale, or bearer, 
 
 Three hundred and seventeen ythF I>oliars. 
 No. 2. George N. Comer. 
 
 $111.00 Boston, 22d January, 18— 
 
 Cashier of the Bank of Commerce, 
 
 Pay to Eliot Fire Ins. Co., or bearer, 
 
 One hundred and eleven lOO Dollars. 
 
 No. 3. George X. Comer. 
 
 94968 
 
 19500 
 
 Withdr'wn this mo. 
 
 12401 
 
 $919.68 Boston, 27th .lanuary, 18— 
 
 Cashier of the Bank of Commerce, 
 Pay to Peros d- Co., or bearer, 
 
 fi ft 
 
 Nine hundred and forty-nine yg^y Dollars. 
 No. 4. George X. Comer. 
 
 $195.00 Boston, 31s< January, 18— 
 
 Casliier of the Bank of Commerce, 
 
 Pay to Boston M. Fire Ins. Co., or bearer, 
 One hundred and ninety-fire 100 Dollars. 
 
 No. 5. George X. Comer. 
 
 18 The woida ia ItoliM are Ihoee umuUj in writing, the others are printed. 
 
 Each item (a* soon as eonrenient after the check Is delivered) is posted to the debit of the proper aeoonnt, and the 
 Bank U credited with the total amoont at the end of the month. It is a good plan to keep a memorandum of depositt 
 Md withdrawals on the back of the part remainiug after Che check ii cut out, to show, at a glance, the balance in bank, 
 which, after the llrst few checks hare been d rawn, will be some pages baek. and not exposed to an j one overlooking yo« 
 whmdMwiagaebMk; UkMis,70ucankiMwlba baUttMjouiaeU wiUKMtUttiiic g(b«T pwpU know it. £sMnpU: 
 
 18- 
 
 Jaa. 1. Deposit 
 •• S. do. 
 
 « 12. SntiM 
 
 •• 12. Freight 
 
 M 23. Dep. eoll. 
 
 « n. BMIiuuCo. 
 
 •• 27. Pom * Co. 
 
 " S9. Dep. 
 
 •' 30. Dep. con. 
 
 " 31. B.M.F. Ibs.Co. 
 
 woo'oo 
 
 828 i») 
 
 7873 ^ 
 317 SO 
 
 2 00 no 
 
 S864 50 
 
 uiloo 
 sMslao* 
 
 949 88 
 
 8393 n" 
 
 9»w!oo 
 
 10293,88 
 7«i)|t)» 
 
 iioj.1 57 
 
 195,(10 
 10868. 0' 
 
 (76) 
 
 JOURNAL. 
 
 JOURNAL- 
 
 As the Journal is Btill used in some houses, it is very desirable that the 
 student should at least know how to Journalize, so as to clearly understand 
 
 the term. 
 
 I have introduced what I consider to be the best form of Journal, embracing 
 the first montli's business of these books, sufficient to enable the student to 
 thoroughly comprehend the design. 
 
 Journalizing is merely giving the Ledger titles to the entries from the books 
 of ori^nnal entry upon the Journal previously to posting. 
 
 The°po8ting figures to the Ledger are inserted as though the transactions 
 for this month had been posted from this Journal, instead of from the books 
 of ori-inal entry. Upon comparison it will be found that the results are iden- 
 tically the same as those without this book ; thereby proving its utter mutihty, 
 to say nothing of the sheer waste of time, increased liability of error, and the 
 increased opportunity for covering up misdeeds by a fraudulent book-keeper. 
 7* (77) 
 
 < m 
 
Drs. 
 
 BOOK-KEEPING. 
 
 Boston^ \8t January, 18— 
 
 Crs. 
 
 Miscella- «j„ 
 neou«. Mdse 
 
 Caah 
 
 jiLed 
 • ! Pag* 
 
 Merchandise 
 
 Ctuh. 
 
 Mdse. 
 
 Miscella- 
 neous. 
 
 
 12500( 
 
 30 
 
 
 
 
 
 
 12500 
 
 
 
 
 2 
 
 Ship Sultana 
 
 
 
 
 
 10000 
 
 
 
 3500 
 
 3 
 
 
 
 Real Est. at Brookline 
 Cash 
 
 
 
 
 
 80000 
 
 
 
 
 5 
 
 Bank of Commerce 
 
 
 
 
 
 2760 
 
 
 
 
 6 
 
 Bills Receivable 
 
 
 
 
 
 »75a 
 
 ' 
 
 
 7 
 
 Albert Knowles 
 
 
 
 
 
 687 0( 
 
 }! 
 
 
 8 
 
 Robert Vanevar 
 
 
 
 
 
 550 0< 
 
 ) 
 
 
 9 
 
 Samuel T. Gordon 
 
 
 
 
 
 478 0< 
 
 ) 
 
 
 10 
 
 Rollins Bros. & Co. 
 
 
 
 
 
 450 0( 
 
 ) 
 
 
 11 
 
 Henry Underwood 
 
 
 
 
 
 
 
 
 12 
 
 Bills Payable 
 
 
 
 5300 00 
 
 
 
 
 13 
 
 William Jones 
 
 
 
 2600 00 
 
 
 
 
 14 
 
 Quincy, Dane & Co. 
 
 
 
 1800 00 
 
 
 
 
 15 
 
 Daniel Davis 
 
 
 
 950 00 
 
 
 
 
 16 
 
 George N. Comer 
 
 
 
 38600i00 
 
 
 
 
 14 
 
 9d. 
 
 
 
 1 
 
 
 787 50 
 
 William Jones, 
 
 
 
 
 
 
 Merchandise 
 
 
 787 5( 
 
 ) 
 
 
 
 
 100 OC 
 
 ► 
 
 •>d. 
 
 
 
 
 
 
 Cash, 
 
 
 
 
 
 
 Merchandise 
 
 
 100 0( 
 
 > 
 
 
 
 
 
 
 n<]. 
 
 
 
 
 
 1223 80 
 
 Bills Receivable, 
 
 
 
 
 
 
 Merchandise 
 
 
 1223 80 
 
 
 
 
 
 500 
 
 
 "id. 
 
 
 
 
 
 
 Cash, 
 
 
 
 
 
 7 
 
 Albert Knowles 
 
 
 
 600 00 
 
 
 
 
 28 
 
 •id. 
 
 
 
 
 
 650 00 
 
 Expense, 
 
 
 
 
 
 
 Cash 
 
 550 00 
 
 
 
 
 
 2158 42 
 
 
 
 ^♦ii 
 
 
 
 
 
 
 Merchandise, 
 
 
 
 
 
 14 
 
 Quincy, Dane & Co. 
 
 
 
 I 2158 
 
 12 
 
 
 
 200 00 
 
 
 nth. 
 
 
 
 
 
 
 Cash, 
 
 
 
 14658 42 
 
 1 
 
 1150 00 
 
 • 
 
 Merchandise 
 Am'ts carried forward 
 
 550 00 
 
 1 1 
 
 200 00 
 
 J 
 
 51908^ 
 
 1 
 
 
 38961 30 
 
 2311 30 
 
 12 
 
 
 
 
 
 (78) 
 
 
 
 
 ~ 
 
 Drs. 
 
 JOURNAL. 
 
 Boston, Gth January, 18— 
 
 Crs. 
 
 Led. 
 
 Miscella- -^^^^^^ Cash. ii^^' 
 
 38961 
 
 600 
 
 30 14658 42 1150 1 00, 
 250 00 
 
 00 
 
 507 
 
 853 
 
 21 
 
 60 
 
 2500 
 
 3449 
 
 1145 
 
 68 
 
 50 
 
 200 
 
 Cash. II Mdse. 
 
 ii 
 
 Am'ts brought forw'd 
 Cash, 
 
 Samuel T. Gordon 
 
 6th — 
 
 00 
 
 125 
 
 42593 
 
 31 
 
 OOi 
 
 BANK OF Commerce, 
 
 Cash 
 . 8th - 
 
 Merchandise, 
 Bills Payable 
 Cash 
 
 8th 
 
 550100, 
 
 500 
 
 06 
 
 300 
 
 00 
 
 17 
 
 6 
 18 
 
 Cash, 
 
 Merchandise 
 10th 
 
 00 
 
 303 
 
 Merchandise, 
 Alfred Arnot 
 12th 
 
 00 
 
 90 
 
 20137 81 
 
 387 
 
 Merchandise, 
 Bank of Commerce 
 
 13th 
 
 21 
 
 2311 
 
 30 
 
 Miscella* 
 neous. 
 
 51908 42 
 
 250 
 
 William Smithson, 
 
 Merchandise 
 13th 
 
 Cash, 
 
 Merchandise 
 
 15th 
 
 17 
 
 00 
 
 2287 
 
 00 
 
 Merchandise, 
 
 Cash 
 16th 
 
 Alfred Arnot, 
 Bills Payable 
 IGth 
 
 200 
 
 00 
 
 00 
 
 31 
 
 550 
 
 00 
 
 3449 
 
 1145 
 
 8 
 
 Cash, 
 
 Robert Vanevar 
 
 17th 
 
 Real Est.Brookline 
 Cash 
 
 Am'ts carried forward 
 
 (79) 
 
 00 
 
 507 
 
 300 
 
 60 
 
 00 
 
 68 
 
 50 
 
 125100 
 
 I ' 
 1509,21 
 
 3318 
 
 90 
 
 2500 
 
 387 
 
 00 
 
 00 
 
 60190 
 
 60 
 
 (i 
 
 fi 
 
 lU 
 
 m 
 
Drs. 
 
 BOOK-KEEPING. 
 BostoHy Vith January y 18— 
 
 CR8. 
 
 Miscella- 
 neous. 
 
 Mdae. ' Cash. 
 
 4259.3 W 20137,81 2287 00 
 600 00 
 
 2000 00 
 
 2000 00 
 
 111 
 
 225 
 225 
 
 130 
 
 001 
 
 00 
 
 00 
 
 00 
 
 950:00 
 
 750' 0(> 
 
 4948490 
 
 513 07 
 
 175 
 
 00 
 
 Led, 
 Page 
 
 19 
 20 
 
 Caah. 
 
 Mdae. 
 
 iMiiiccIla* 
 neous. 
 
 Am'ts brought forw'd 
 George C. Naylor, 
 
 Olivera & Co. 
 19th. 
 
 215 
 
 Cash, 
 
 Merchandise 
 20th 
 
 1509 
 
 21 
 
 Bills Payable, 
 Merchandise 
 Bills Payable 
 
 20th 
 
 Merchandise, 
 
 Cash 
 22d 
 
 00 
 
 28 
 5 
 
 563 
 
 20651 48 3240 
 
 Bank of Com.merce, 
 Bills Receivable 
 
 _ 22d. 
 
 Expense, 
 
 Bank of Commerce 
 22d. 
 
 513 
 
 67 
 
 21 
 11 
 
 45 
 
 Cash, 
 
 Merchandise 
 23tl 
 
 Bills Receivable, 
 Profit and Loss 
 Henry Underwood 
 
 24th 
 
 asis 
 
 175 
 
 1290 
 
 90 60190 CO 
 500 00 
 
 ooi 
 
 Real Est.Brookline 
 
 Bills Payable 
 24th 
 
 15 
 
 45 
 
 Cash, 
 
 Merchandise 
 24th. _ 
 
 Daniel Davis, 
 Cash 
 
 25th 
 
 Bills Receivable, 
 Bills Payable 
 
 00 
 
 215 
 
 710 00 
 
 950 
 
 00 
 
 Amts carried forward : 12972 88 
 
 663 
 
 00 
 
 2000 
 
 111 
 
 00 
 
 00 
 
 45 
 
 450 
 
 130 
 
 00 
 
 00 
 
 5562 35 04841 
 
 750 00 
 00 
 
 (80) 
 
 Drs. 
 
 JOURNAL. 
 
 Bostov,, 26th January, l^— 
 
 Crs. 
 
 Miscella- 1 Ty.jg. 
 neous. I *^^®*- 
 
 494t^ 90, 20651 
 9500 1 00 
 7500 1 00* 
 3000 00 
 1000 00 
 
 48 
 
 1500 
 
 949 
 
 00 
 
 68 
 
 18 99 
 
 6000 
 4000 
 
 00 
 00 
 
 2000 
 
 760 
 
 195 
 
 00 
 
 00 
 
 00 
 
 3675 00 
 
 3240 
 
 Cash. 
 
 45 
 
 1000 
 
 478 
 
 Led. 
 Page 
 
 00 
 
 00 
 
 24 
 22 
 25 
 
 430 
 
 50 
 
 2000 
 
 00 
 
 89583 57 20651 
 
 48 
 
 10 
 
 13 
 
 17 
 5 
 
 Cash. 
 
 Am'ts brought forw'd 
 House & Land,Walt'm 
 Exchange Bank Stock 
 Western K. II. Stock 
 Bills Receivable 
 Cash 
 
 Est. Edw. Evans 
 J6th 
 
 Cash, 
 
 Rollins Bros. & Co. 
 26th 
 
 2972 
 
 88 
 
 28 
 
 26 
 27 
 
 16 
 
 William Jones, 
 Cash 
 
 27th 
 
 Alfred Akxot, 
 
 Bank of Commerce 
 27th 
 
 Cash, 
 
 Merchandise 
 27th 
 
 Profit and Loss, 
 
 Cash 
 29th 
 
 1500 
 
 Mdse. 
 
 ' Miscella- 
 neous. 
 
 5562 
 
 35 
 
 Farm in Watcrtown 
 Fitchburg R. R. Stock 
 Cash 
 
 Geo. N. Comer 
 29th 
 
 17148 95 
 
 24 
 5 
 
 10 
 
 Bank of Commerce, 
 
 Cash 
 30th 
 
 Bank of Commerce, 
 
 Bills Receivable 
 31st 
 
 18 
 
 00 
 
 99 
 
 2000 
 
 House at Waltham, 
 Bank of Commerce 
 
 31st 
 
 Rollins Bros. & Co., 
 Merchandise 
 
 Am'ts carried forward 
 
 ~~ (81) 
 
 430 
 
 00 
 
 6491 
 
 64811 CO 
 
 22000 
 
 478 
 
 00 
 
 00 
 
 50 
 
 949 68 
 
 12000 
 
 00 
 
 3675 
 
 87 
 
 9667 
 
 00 
 
 85 
 
 760 
 
 195 
 
 101224 
 
 00 
 
 00 
 
 28 
 
 

 Drs. 
 
 BOOK-KEEPING. 
 Boston, 31a< January, 18— 
 
 Crs. 
 
 MiscetU- 
 neoua. 
 
 89583 57 
 200 00 
 
 Mdse. 
 
 20651 
 
 48 
 
 Cash. 
 
 7148 
 
 95 
 
 Led 
 P>Mfe 
 
 16 
 
 Amt's bro't forw'd 
 Geo. N. Comer, 
 Cash 
 
 Caah. 
 
 MdM. 
 
 Miscella- 
 neotu. 
 
 &491I87 
 
 200 
 
 00 
 
 9667 
 
 85 
 
 101224 
 
 28 
 
 89783:57 20651 
 
 I li- 
 
 7148 
 20651 
 89783 
 
 117684 
 
 06 
 
 48| 
 57 
 
 00 
 
 4 
 1 
 
 Cash 
 
 Merchandise 
 
 Miscellaneous 
 
 Proof. 
 Dr. Cash $7148.95 
 Cr. " 6691.87 
 
 Balance 457.08 
 
 6691 
 9667 
 
 ''I 
 
 85: 
 
 101224 28 
 
 117584 
 
 00 
 
 9667 
 
 (83) 
 
 '9 i 
 
 i 
 
 THE BOOKS OF 
 
 ACCURATE ACCOUNTANT. 
 
 TEST SET FOR PRACTICE. 
 
 The following are the records of the transactions of a merchant named 
 *' Accurate Accountant " during three months' business ; written down in the 
 rotation in which they occurred, without any reference to the style of entry, 
 or the book upon wliich they should be made. The student is required to 
 write out each entry in proper form on its appropriate book, (the intention be- 
 iD<r to keep only two books of original entry, a Day Book and Cash Book,) 
 just as the entries of similar actual transactions would be made, and post each 
 day's business, day by day, to the proper accounts on the Ledger. 
 
 My object, by this means, is to facilitate the learner in making ongmal en- 
 tries. A copy of the Trial Balances, as taken from the Ledger, is given for 
 the purpose of showing the results, and to enable the student to ascertain 
 whether the entries have been correctly made and posted. 
 
 A person who can readily make these entries and carry them through the 
 books in accurate form, need have little doubt of his abiUty to commence tak- 
 ing the charge of any set of books. 
 
 Boston, 1st March, 18 — . 
 
 I commence business this day with the following property : Real Estate 
 at Auburndale, valued at $10,000. Ship Mary K. Comer, $25,000. 
 Cash, $325. Boston Bank, on deposit, $r.750. Merchandise per 
 Stock Book, $11,250. BUls Receivable, per Bill Book, $3375. Samuel 
 Unwin owes me on book account, $1125 ; Philip Vinton, $1150 ; Mar- 
 ket, Price & Co., $575 ; Hyde & Inman, $600 ; Peter Doolittle, $650, 
 
 My Liabilities are as follows : Bills Payable per Bill Book, $3125. I 
 owe, on book account, Hope, Trust & Co., $3375 j Little & Sharp, $575 ; 
 Robards & Stevens, $425. 
 
 Paid Cash for fitting up Store, &c., $187.50. 
 
 Sold Hope, Trust & Co. Merchandise per Sales Book, $1000. 
 
 Sold Daniel Defoe, Merchandise, $1250, and received in payment his 
 Note at 6 months, $1250. 
 
 Bought of Little & Sharp, on Book account. Merchandise, per Invoice 
 
 Book, $2225.75. 
 Received Cash for Merchandise sold this day, $318.25. 
 Bought of Charles Carroll, Merchandise, $925, for which I delivered to 
 
 him my Note at months for $050; and paid him the balance, $275, in 
 
 Cash. 
 Received per Cora, Capt. Cobb, from Orcutt & Page, Surinam, agreea- 
 bly to my order, Merchandise, per Invoice, $4200. 
 
 (83) 
 
 2d. 
 
 3d. 
 
 5th. 
 
 6th. 
 8th. 
 
 I 
 
9th. 
 10th. 
 
 12th. 
 
 15th. 
 
 16th. 
 
 18th. 
 
 19th. 
 
 20th. 
 22d. 
 23d. 
 
 25th. 
 
 M 
 
 26th. 
 29th. 
 
 30th. 
 
 31st. 
 
 BOOK-KEEPING. 
 
 Paid Cash to J. Workwell for Repairs on House at Aubumdale, $175. 
 
 Received Cash for Merchandise, 8125. 
 
 Received of Samuel Unwin Cash on account, $900. 
 
 Paid Robards & Stevens Cash in full, $425. 
 
 Drew Check for Specie to pay Duties on Merchandise from Surinam, 
 $812 ; also Check to pay Capt. Cobb for Freight, &c., $370. Paid Cash 
 for Cartage and V/harfage on same, $28.50. 
 
 Accepted Orcutt & Page's Draft at 20 days' sight in favor of James 
 Johnson, $2225. 
 
 Received Cash for Merchandise, $100. 
 
 Delivered to Charles Evelyn my Order on Daniel Defoe for goods to the 
 amount of $175. 
 
 Received of Market, Price & Co., Cash in full, $575. 
 
 Delivered to Jones and Vose, on Labor & Livewell's account, per their 
 order. Merchandise, $125. 
 
 Received Cash for Merchandise, $262.50. 
 
 Received of Freeman & Co. my Note of 15th of February for $1158 ; in 
 satisfaction for which I sold them Merchandise, $6o6, and delivered 
 to them my Nc^e at 3 months for the balance, $<)00. 
 
 Delivered to Suffolk Fire Ins. Co. for Insurance of Merchandise in 
 Store, my Check for $175. 
 
 Deposited in Boston Bank, for collection, Richard Prince's Note of 25th 
 January, for $.300. 
 
 Received of Hyde & Inman Cash on account, $360. 
 
 Paid Frank Hosmer for Merchandise, $550. 
 
 Peter Doolittle, having failed, makes a composition of 12 per cent. Re- 
 ceived of him Thomas Sheldon's Note, in full settlement for $78. 
 
 Delivered to People's Mutual Fire Ins. Co. my Note for $120, for insur- 
 ance oi Buildings at Auburndale. 
 
 Bought oi John Reckers, at 2 per cent, premium, his Draft on A. 
 Glen & Co., Surinam, for $1975. Delivered therefor my Check, $1975, 
 and Cash for Premium, $39.50. Remitted the above Draft to Orcutt 
 & Page, Surinam, to close account. 
 
 Received Cash for Merchandise, $178.50. 
 
 Having been appointed Administrator of the Estate of the late Benja- 
 min Ero^vn, I have received, and hold in trust for the heirs, Forty 
 Shares Westem R. R. Stock, apprised at $4200 ; Fifty Shares 3Ier- 
 chants Bank Stock, $5100 i Store on Washington Street, $5575; 
 Cash, $525. 
 
 Exchanged Notes with William Winter for his accommodation, for 
 $575, at GO days. 
 
 A Legacy of $12,500 having been left me by Mrs. Mary Wade, I have 
 this day received of her Executors a Deed of Farm in Fitchburg, 
 valued at $5ri'25, their Check on Freemen's Bank for $6250, which I 
 have deposited in Boston Bank to my credit, and $025 Cash. 
 
 Received Cash for Merchandise, $142.28. 
 
 Deposited in Boston Bank, for collection, Henry Howard's Note, due 
 14th April, for $475.50 ; also B. Sparrow's Note, due IGth Apr, for $1500. 
 
 Paid Hope, Trust & Co. on account, $2150. 
 
 Received of Gleeson & Powers their Note at 6 months, for $260, on 
 account of Estate of Benjamin Brown. 
 
 Delivered to State Mutual Fire Ins. Co., for Insurance of Store on 
 Washington Street, my Note for $78. 
 
 Withdrew Cash for Personal Expenses, $175. 
 
 (84) 
 
 BOOKS OF ACCURATE ACCOUNTANT. 
 
 2d. 
 
 3d. 
 
 6th. 
 
 eth. 
 
 8th. 
 9th. 
 
 12th. 
 
 14th. 
 
 16th. 
 
 1st April, 18 — . 
 
 Sold Labor & Livewell, on book account. Merchandise, $550. Re- 
 ceived their Note at 90 day8,Yor $075, in full. 
 
 Received of Capt. Harrison Cash, $2000, being my share of Net Freight 
 of Ship Mary K. Comer. 
 
 Paid Haydcn Morse, Clerk, Cash in full to date, $137.50. 
 
 Insured my life at the State Mutual Life Ins. Co. for $6000. 
 
 Delivered my Check for the annual premium, $158.80. 
 
 Received Cash of Ward & Bell for Rent of Store on Washington Street 
 to date, $115. 
 
 Paid Cash to Small & Rich for Chronometer, presented to Capt. Harri- 
 son, $237.25. 
 
 Bought of Hyde and Inman, on book account. Merchandise, $240. 
 
 Received of Philip Vinton, in full, Cash, $1150. 
 
 Paid at Ocean Bank my Acceptance of Orcutt & Page's Draft, Cash, 
 
 $2225. 
 
 Received Cash for Merchandise, $228.14. 
 
 My Buildings at Auburndale having been damaged by fire on the .30th 
 ultimo, the People's Mutual J^re Ins. Co. have this day delivered to 
 me their Check on the Mechanics' Bank for $3535, (which I have de- 
 posited to my credit in the Boston Bank,) and returned me my Note 
 of 22d March for $120. 
 
 Drew Check for Freight, &c., of Merchandise received on Consignment 
 from Watson & Green, Havana, $175, and for their Draft at sight, 
 favor of F. Ximines, $875. ' 
 
 Received of Charles Evelyn on account. Cash, $125. 
 
 Paid Cash for Drayage and Labor on Consignment from Watson & 
 
 Green, $3.10. 
 
 Sold Daniel Defoe Watson & Green's Merchandise, at 4 mos., $787.50, 
 
 Received of L. P. Beck, for crop of Farm in Fitchburg, Cash, $500. 
 
 Paid Price & Co., for Stationery, Cash, $45. 
 
 Advanced to Little & Sharp, in consideration of Invoice of Goods con- 
 signed to me for sale. Check for $275. 
 
 Received Cash for Merchandise, $300. 
 
 Paid Cash for Drayage, &c., on Consignment from Little & Sharp, $2.98. 
 
 Sold H. A. Poor Watson & Green's Merchandise, at 3 months, 
 $350; Little & Sharp's Merchandise, at 4 months, $458.50; Mer- 
 chandise from Store, at 6 months, $1225. Received in payment his 
 averaged Note dated 10th inst., at 5 months for the whole amount, 
 $20.33.50. 
 
 Receive4 Cash for Merchandise, $015.80. 
 
 Paid Cash to A. Groom for Repairs on Farm at Fitchburg, $312.50. 
 
 Drew Check for Duties on Merchandise consigned to me for sale by 
 Guelph & Co., Halifax, $1000. 
 
 Shipped to Jamaica, and consigned to Hope, Trust & Co., to be sold on 
 my account, Merchandise, $2700. 
 
 Paid Cash for Freight, &c., on Shipment to Jamaica, $144. 
 
 Shipped per Hudson, Capt. Steel, and consigned to D. Gibb & Co., 
 Calcutta, to be sold on account of George C. Gore and myself. In- 
 voice of Merchandise bought of Farleigh & Co., by my Check, $M00 ; 
 Invoice of Merchandise bought of F. Sewell, for my Note at 3 
 months, $3-300 ; Invoice of Merchandise bought of Hams & Son for 
 G. C. Gore's Note at 3 months, $2750. G. C. Gore paid the Lasur- 
 ance, Shipping Expenses, &c., $1650 
 8 (85) 
 
 ■ i 
 
 lU 
 

 19th. 
 
 ill 
 
 r If 
 
 '■I 
 
 20tll. 
 
 2l8t. 
 
 23d. 
 
 26th. 
 
 27th. 
 
 29th. 
 
 30th. 
 
 BOOK-KEEPING. 
 
 Received Cash for Merchandise, $385.75. 
 
 Paid Cash to Ralph Doanc, on account of rebuilding House at Auburn- 
 dale, $360. 
 
 Sold Martin & Cross Watson & Green's Merchandise, $1750. 
 
 Received of George C. Gore Cash on account, $2200. 
 
 Deposited in Boston Bank Cash, $4200. 
 
 Rendered Account Sales to Watson & Green. Total amount of Sales 
 of their Consignment, $2887.50. Commission 5 per cent. Guaran- 
 ty, 22 per cent. Advertising, $3.87. Expenses already posted, 
 $178.10. Leaving tlieir net sales ^488.97. . 
 
 Shipped per Carrie, Capt. Craft, and consigned to Foresight & Fear- 
 less, California, to be sold on joint account of them, Paywell & 
 Prosper, and myself, Merchandise from Store to the amount of 
 $4583.50. 
 
 The remainder of Little & Sharp's Merchandise, taken at highest mar- 
 ket value, $573 ; 385 barrels Flour, at $5 per barrel, bought of C. 
 Whitbread for my Check ; 517 barrels Flour, bought of Elwell & Co. 
 for my Note at GO days, $2455.75. 
 
 Insurance, Drayage, &c., paid by my Check, $151. 
 
 Received Cash for Merchandise, $312.50. 
 
 Rendered Account Sales to Little & Sharp. Total amount of sales, 
 $ia31,50. Commission, 2 a per cent. Guaranty, 2^ per cent, on $458.50. 
 Advertising, $1.37. Expenses already posted, $2.98. Leaving their 
 net sales $989.90. 
 
 Received of (Jeorge C. Grore his Note at 60 days, for $1100. 
 
 Received of Paywell & Prosper Cash on account, $3025. 
 
 Deposited Cash in New England Bank to open account, $3150. 
 
 Accepted Guelph & Co's. Draft at 20 days' sight, favor of Harvey 
 Drake, for $2500. 
 
 Received Cash for Merchandise, $125.25. 
 
 New England Bank has this day discounted H. A. Poor's Note for 
 $2033.50, and placed net proceeds, $1988.09, to my credit. 
 
 Received Cash from New England Bank on my Check, $2500. 
 
 Received Cash from Boston Bank on my Check, $3450. 
 
 Paid Cash to Anson James, for Deed of Land at Cambridge, $5950. 
 
 Sold to Harry Breen Guelph & Co.'s entire Consignment, $6250. Re- 
 ceived his Note at 90 days, for $3750, and the balance in Cash. 
 
 Paid Cash for Labor, &c., on the above Consignment, $14.06. 
 
 Deposited Cash in New England Bank, $2500. 
 
 Rendered Account Sales to Guelph & Co. Total amount of sales, $6250. 
 Commission, 5 per cent. Guaranty, 2' per cent, on $3750. Other 
 expenses already charged, $1014.06. Leaving their net sales $4829.69. 
 
 Paid Cash to Otis Cross for Wood and Coal, $78. 
 
 Received Account Sales from Hope, Trust &, Co. Amount net sales 
 due me and subject to my order, $3150. Withdrew Cash for Personal 
 Expenses, $200. 
 
 (86) 
 
 BOOKS OF ACCURATE ACCOUNTANT. 
 
 3d. 
 
 1st May, 18—. 
 
 Deposited in Boston Bank, for collection, William Winter's Note of 
 
 20th March, $575. 4-11^550 
 
 Received Cash, Dividend on Western K. R. Stock, $315.50. 
 Sold George C. Gore, on book account, fths Ship Mary K. Comer, lor 
 
 4th. 
 6th. 
 
 6tb. 
 8th. 
 
 10th. 
 
 12th. 
 13th. 
 
 15th. 
 
 17th. 
 
 19th. 
 20th. 
 
 Bought of George C Gore, on account. Merchandise, $3906. 
 Received Cash for Merchandise, $114./2. i. iir «,.„!, o« 
 
 Received from Foresight & Fearless, California, Invoice of Merchan- 
 dise to be sold on our joint account, $6600. 
 P^d cash for Freight, &c., on Merchandise from Cahorma, $353.10. 
 Received Cash, Dividend oa%Iorchants ^ank ^tock, $19a 
 Sold Hasty & Driver, to be paid for in a few days. Merchandise, $360. 
 Paid Cash for advertising in Courier, $12. . ^. -.„„e 
 
 Both? of Samuel Unwin, on book account, Merchandise, $225. 
 Borrowed Cash of Otis White, $1100. 
 
 Paid Cash for advertising in Atlas, $12. .,.^^ *oo^ 
 
 Sold Hope, Trust & Co., on book account. Merchandise, $225. 
 T?pccived Cash for Merchandise, $550. ^^ -r. , j t>„«v 
 
 Sired to Little & Sharp, on account, Check on New England Bank 
 
 for $3250. 
 Received Cash for Merchandise, $330. 
 Paid Cash for advertising in Journal, $15. 
 
 Sold B. Spinney, to be settled for in a few days, Merchandise, $ii""- 
 Sold Abner Green Farm in Fitchburg for $4950, which amount he has 
 
 deposited to my credit in New England Bank. 
 Received Cash of Hasty & Driver for Merchandise sold to them on the 
 
 4th instant, $360. 
 Paid Brown & Allen for Gold Pen, $2.75. 
 Received Cash of New England Bank on my Check, $1100. 
 Received Cash for Merchandise, 110. , ^h^a K^rmwPd of 
 
 Paid Cash to Otis White, $1101.47, being pnncipal, $1100, borrowed of 
 
 him the 5th inst., and interest on same, $1.47. 
 Received of Martin & Cross, to close account, their Note at 90 days 
 
 for $1777.12, being principal, $1750, with interest, $27 12, added. 
 Paid Cash at Merchants Bank my acceptance Guelph & Co. s Draw, 
 
 Re^^d to Roscoe & Co., Baltimore, per request of G^^^P^^ ^' 
 contained in their last advice, and to close my account with them, my 
 Draft of this date on Watson & Green for $2,329.69. 
 Paid Cash to Frederick Lawson for surveying and laying out Land at 
 
 Cambridge into four lots, $54.50. 
 Received Cash of Peter Glibb, net proceeds ofCon^igrnment of Mer- 
 chandise from Foresight & Fearless, sold by him at auction, $"<^- 
 Rendered Account Sales to For.sight & Fearless. Expenses already 
 
 posted, $353.10, leaving net proceeds in joint account, $.346.90. 
 Deposited Cash in Boston Bank, $5500. 
 Received Cash of Boston Bank on my Check, $2200. 
 Loaned Cyrus Crane Cash, $2200. „„«„„„+ nf Fore- 
 
 Shipped to Barter & Sale, New Orleans, to be sold ^^\^^f^l.^^^^. 
 Bight & Fearless, as per their order contamed in last advice, Mer- 
 i chandise amounting to $3300. 
 
 (87) 
 
 h 
 
22d. 
 
 24th. 
 
 26th. 
 
 28th. 
 
 29th. 
 
 80th. 
 
 3l8t 
 
 iini 
 
 BOOK-KEEPING. 
 
 Sold to Charles Evana two lots of land at Cambridge, for $3200, and 
 received in payment C. Breed's ^'ote in his favor, at 3 moutlis, lor 
 that amount. 
 
 Received Cash for Merchandise, $143. 
 
 Paid Cash for Postag^e Account, Su.14. 
 
 Drew Check on Boston Bank for Ralph Doane hi fuU, for rebuildin^r 
 House at Auburndale, $3000. ° 
 
 Paid Cash for cleaning Store, Ac, $14.30. 
 
 Received of B. Spinney John Smith's Note, indorsed by William Stud- 
 ley, in lull for Merchandise sold him the 10th iust., $1100 
 
 Received Cash of Daniel Defoe, on account, $,00 
 
 ^ZZ ^^""^ ""I^ ^^^^""^ ^'^^ *° ^"^ "P William Whiter'B Note of 
 20th March, $575. 
 
 Received his Note at 60 days for $581.04, bemg principal, $575, with 
 mterest, $6.04, added. f , v^^o, y^^u 
 
 Paid Cash at Ocean Bank to take up my Note to William Winter, $575. 
 Received Cash for Merchandise, $.330. 
 
 Drew Check on New England Bank for H. Robb, for rent of Store to 
 date, $.3:10. 
 
 Paid Watson & Green's sight Draft in favor of J. Davis, $793.66. 
 Accepted Lugene Lemoin's Draft for .«- 125 in favor of Oscar Gilbert, 
 
 at 10 days' sight, on account and request of Foresight & Fearless, 
 
 California, contained in their last advice. 
 Received Cash of Cyrus Crane, $22(H.05, being principal, $2200, loaned 
 
 him the 19th inst., with interest, .$j.0o, added. 
 Paid Cash to Hayden Morse, Clerk, in full, $275.00. 
 Withdrew Cash for Personal Expenses, $215, 
 Deposited Cash in New England Bank, $;i.300. 
 Merchandise on hand, per Stock Account taken thia day, $8000. 
 
 LEDGER. 
 
 TRIAL BALANCE. 
 
 Drs. 
 
 
 
 
 Marchy 18 — 
 
 
 C 
 
 R9. 
 
 
 DiflFerence. 
 
 1 
 Amount. 
 
 Ledger 
 Page. 
 
 Names. 
 
 Amount. 
 
 Differ'ce. 
 
 $ 10295 00| 
 
 10295 
 
 00 
 
 
 Real Estate at Auburndale 
 
 
 
 ! 
 
 1 
 
 
 
 
 175 
 
 00 
 
 
 Accurate Accountant 
 
 65800 
 
 00 
 
 65625 
 
 00 
 
 25000 
 
 00 
 
 25000 
 
 00 
 
 
 Ship Mary K. Comer 
 
 
 
 
 
 
 
 4200 
 
 00 
 
 
 Orcutt & Page 
 
 4200 
 
 00 
 
 
 
 431 
 
 03 
 
 4436 
 
 53 
 
 
 Cash 
 
 4005 
 
 50 
 
 
 
 175 
 
 00 
 
 175 
 
 00 
 
 
 Charles Evelyn 
 
 
 
 
 
 12003 
 
 50 
 
 153.35 
 
 50 
 
 
 Boston Bank 
 
 3332 
 
 00 
 
 
 
 16301 
 
 72 
 
 20361 
 
 25 
 
 
 Merchandise 
 
 4059 
 
 53 
 
 
 
 
 
 
 
 
 Daniel Defoe 
 
 175 
 
 00 
 
 175 
 
 00 
 
 3202 
 
 50 
 
 6538 
 
 00 
 
 
 Bills Receivable 
 
 2335 
 
 50 
 
 
 
 125 
 
 00 
 
 125 
 
 00 
 
 
 Labor & Livewell 
 
 
 
 
 
 225 
 
 00 
 
 1125 
 
 00 
 
 
 Samuel Unwin 
 
 900 
 
 00 
 
 
 
 
 
 
 
 
 Estate of Benjamin Brown 
 
 15660 
 
 00 
 
 15660 
 
 00 
 
 1150 
 
 00 
 
 1150 
 
 00 
 
 
 Philip Vinton 
 
 
 
 
 
 4200 
 
 00 
 
 4200 
 
 00 
 
 
 Western R. R. Stock 
 
 
 
 1 
 
 
 
 
 575 
 
 00 
 
 
 Market, Price & Co. 
 
 575 
 
 00 
 
 
 
 6100 
 
 00 
 
 5100 
 
 00 
 
 
 Merchants' Bank Stock 
 
 
 
 
 
 240 
 
 00 
 
 600 
 
 00 
 
 
 Hyde &, Inman 
 
 360 
 
 00 
 
 
 
 6653 
 
 00 
 
 5G53 
 
 00 
 
 
 Store on Washington Street 
 
 
 
 
 
 
 
 650 
 
 00 
 
 
 Peter Doolittle 
 
 650 
 
 00 
 
 
 
 6625 
 
 00 
 
 5625 
 
 00 
 
 
 Farm in Fitchburg 
 
 
 
 
 
 
 
 1158 
 
 00 
 
 
 Bills Payable 
 
 7373 
 
 00 
 
 6215 
 
 00 
 
 362 
 
 50 
 
 362 
 
 50 
 
 
 Expense 
 
 
 
 
 
 
 
 3150 
 
 00 
 
 
 Hope, Trust & Co. 
 
 3375 
 
 00 
 
 225 
 
 00 
 
 611 
 
 50 
 
 611 
 
 50 
 
 
 Profit & Loss 
 
 
 
 
 
 
 
 
 
 • 
 
 Little & Sharp 
 
 2800 
 
 75 
 
 2800 
 
 75 
 
 
 75 
 
 425 
 
 00 
 
 28 
 
 
 Robards & Stevens 
 
 425 
 
 00 
 
 28 
 
 
 
 $ 90700 
 
 116026 
 
 
 % 
 
 116026 
 
 90700 
 
 75 
 
 
 
 
 
 
 Vn^nnf 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Amt. of D. B. Add'ns $107909.25 
 
 
 
 
 
 
 
 
 
 
 « " Cash received 4111.53 
 
 
 
 
 
 
 
 
 
 
 " «' " paid 4005.50 
 
 
 
 
 
 
 $110026.28 
 
 
 
 
 'k 
 
 8* 
 
 (89) 
 
Dks. 
 
 BOOK-KEEPING. 
 
 TRIAL BALANCE. 
 
 April, 18— 
 
 Crs. 
 
 Difference. ' Amount, i,^^®' 
 
 $ 7000 00 
 
 ; *5 
 
 i 
 
 45 
 23000 
 
 51.38 
 
 40i 
 
 50 
 
 6950 
 
 7328 
 
 5515 
 
 612 
 
 8727 
 
 41 
 00 
 
 09 
 08 
 00 
 
 00 
 70 
 78 
 50 
 
 50 
 
 225 00 
 
 6050 
 
 4200 
 
 5100 
 1750 
 
 5538 
 
 6437 
 
 360 00' 
 
 200100 
 2887150 
 
 45:41: 
 
 875100 
 
 76.38109 
 
 19532 44 
 
 00 
 
 00 
 
 00 
 00! 
 
 00 
 50 
 
 m3i 
 
 5950 
 
 7735 
 
 240 
 
 787 
 6250 
 7558 
 
 550 
 
 50 
 00 
 00 
 00 
 50 
 00 
 50 
 00 
 
 2844 OO 
 
 617 '76! 
 3229 42 
 
 oo:! 
 
 55ii 
 
 4i;i 
 
 2925 
 1007 
 3229 
 
 6000 
 204 42 
 
 00 
 
 $109286 
 
 00 
 
 00 
 00; 
 
 50 
 
 oo' 
 
 260 50 
 3229 42 
 .3150^00 
 
 396105 
 3220 41 
 
 275100 
 
 6ooo;oo 
 
 3229 42 
 
 6050 
 
 6050 
 1750 
 
 312 
 2^5 
 
 2500 
 
 12 103262 
 
 00 
 
 24 
 
 Names. 
 
 Amount. 
 
 Real Estate at Auburndale 
 
 Accurate Accountant 
 
 Consgt. from Watson & Green 
 
 Interest 
 
 Ship Mary K. Comer 
 
 Watson & Green 
 
 New England Bank 
 
 Cash 
 
 Charles Evelyn 
 
 Consgt. from Little & Sharp 
 
 Real Estate at Cambridge 
 
 Boston Bank 
 
 Merchandise 
 
 Daniel Defoe 
 
 Cons^. from Guelph & Co. 
 
 Bills Receivable 
 
 Labor & Livewell 
 
 Shipt. to Hope, Trust & Co. 
 
 Samuel Unwin 
 
 Estate of Benjamin Brown 
 
 Shipt. to Calcutta 
 
 Philip Vinton 
 
 Western R. R. Stock 
 
 George C. Gore 
 
 Merchants' Bank Stock 
 
 3Iartin & Cross 
 
 Hyde & Inman 
 
 Store on Washington Street 
 
 Commission 
 
 Farm in Fitchburg 
 
 Guaranty 
 
 Bills Payable 
 
 Expense 
 
 Shipt. to California, Co. F. & P. 
 
 Hope, Trust & Co. 
 
 Profit & Loss 
 
 Foresight and Fearless, Calif a 
 
 Little & Sharp 
 
 Life Insurance 
 
 Paywell & Prosper 
 
 Suspense 
 
 Guelph & Co. 
 
 3655 
 
 2887 
 
 2000 
 2488 
 2500 
 19559 
 125 
 1031 
 
 12409 
 11025 
 
 6250 
 
 2033 
 
 675 
 
 3150 
 
 Differ'ce. 
 
 1150 
 7700 
 
 00 
 
 50 
 
 00 
 97 
 00 
 39 
 00 
 50 
 
 SO 
 
 »i 
 
 00 
 50 
 00 
 00 
 
 6^425 
 
 1613 
 
 00 
 00 
 
 3025 
 6000 
 
 4829 
 
 .Proof,- 
 
 Amt. of D. B. Add'ns $61170.41 
 " " Cash received 1V»53'J.44 
 " « " paid 19559.39 
 
 $103262.24 
 
 103262 
 
 240 
 115 
 482 66 
 500' 00 
 177140 
 8255 75 
 5 24 
 
 90 
 
 00 
 00 
 69 
 
 24 
 
 00 
 
 97 
 
 306 00 
 15660 00 
 
 1650 00 
 
 482 
 
 177 
 12125 
 
 3515 
 
 66 
 
 40 
 75 
 
 6S 
 
 6000100 
 2:J29!69 
 
 109286 12 
 
 Drs. 
 
 LEDGER. 
 
 TRIAL BALANCE. 
 
 May, 18— 
 
 Crs. 
 
 Difference. 
 
 Amount. 
 
 Ledger 
 Page. 
 
 $ 10000 00 
 
 3000 
 
 00 
 
 
 
 215 
 
 00 
 
 
 9 67 
 
 1 
 
 47 
 
 
 17444 00! 
 
 
 
 
 
 1 
 
 793 
 
 66 
 
 
 8708 09: 
 
 8250 
 
 00, 
 
 
 723 43 
 
 60 00; 
 
 17252 
 
 27 
 
 
 2804 50 
 
 54 
 
 50 
 
 
 7628 70 
 
 6075 
 
 00 
 
 
 3084 
 
 00: 
 
 4131 
 
 00 
 
 
 14810 
 
 66 
 
 6658 
 
 16 
 
 
 6050 
 
 00 
 
 1 
 
 3300 
 
 00 
 
 
 3884 
 
 50 
 
 5550 
 
 00 
 
 
 4905 
 
 00 
 
 7700 
 
 00 
 
 
 5538 
 
 00 
 
 
 
 
 487 
 
 50 
 
 3075 
 
 00 
 
 
 1287 
 
 95 
 
 670 
 
 19 
 
 
 3229 
 
 42 
 
 
 
 
 3i5o;oo 
 
 225 
 
 00 
 
 
 f)34 
 
 10 
 
 
 
 
 1680 
 
 96 
 
 5425 
 3250 
 
 00 
 00 
 
 
 6000 
 
 00 
 
 
 
 
 204 
 
 42 
 
 2329 
 
 69 
 
 
 112 
 
 50 
 46 
 
 
 Qi 
 
 
 $ 102427 
 
 77961 
 
 
 Names. 
 
 Real Estate at Auburndale 
 
 Accurate Accountant 
 
 Interest 
 
 Ship Mary K. Comer 
 
 Watson & Green 
 
 New England Bank 
 
 Cash 
 
 Charles Evelyn 
 
 Real Estate at Cambridge 
 
 Boston Bank 
 
 Merchandise 
 
 Bills Receivable 
 
 Shipt. to Hope, Trust & Co. 
 
 Samuel Unwin 
 
 Estate of Benjamin Brown 
 
 Shipment to Calcutta 
 
 Loan Account 
 
 Western R. R. Stock 
 
 Georg'e C. Gore 
 
 Merchants' Bank Stock 
 
 Martin & Cross 
 
 Merchandise Co. F. & F. 
 
 Store on Washington Street 
 
 Commission 
 
 Farm in Fitchburg 
 
 Guaranty 
 
 Bills Payable 
 
 Expense 
 
 Shipt. to California, Co. F. & P. 
 
 Hope, Trust & Co. 
 
 Profit &, Loss 
 
 Foresi<fht «fe Fearless 
 
 Little & Sharp 
 
 Life Insurance 
 
 Paywell & Prosper 
 
 Suspense 
 
 Guelph & Co. 
 
 Daniel Defoe 
 
 $ 
 
 Amount. 
 
 -Proof.- 
 
 Amt. of D. B. Add'ns $43776.75 
 " Cash received 17252.27 
 " " paid 109.32.92 
 
 $77961.94 
 
 37 
 
 5550 
 
 2329 
 
 4680 
 
 16932 
 
 3200 
 
 5775 
 
 0562 
 
 575 
 
 225 
 
 21 
 
 00 
 69 
 00 
 92 
 
 00 
 00| 
 
 72i 
 00| 
 
 00 
 
 3300 00 
 315 50 
 
 390G00 
 195 00 
 
 1750 00 
 
 r'700 
 
 00 
 
 4950 00 
 2125 00 
 
 373 
 6973 
 
 600 
 
 77961 
 
 00 
 
 94 
 
 Differ'ce. 
 
 65210 00 
 
 3150 00 
 
 306 
 15660 
 
 482 
 
 177 
 11175 
 
 265 
 
 00 
 00 
 
 66 
 
 40 
 75 
 
 65 
 
 6000 00 
 
 102427 
 
 46 
 
 •J* 
 
 (90) 
 
 (91) 
 
fill 
 
 
 ■ J 
 
 H* I 
 
 . I 
 
 PARTNERSHIP SET. 
 
 THE BOOKS OF 
 
 COMER & CO. 
 
 George N. Comer, 
 George C. Natlor, Charles C. ErELYir. 
 
 Boston, 1st April, 18 — . 
 
 I have this day associated with me, in copartnership, Mr. Grcorge C. Naylor 
 and Mr. Charles C. Evelyn, under the name or firm of Comer & Co., for the 
 purpose of carrying on the business heretofore conducted by myself. The 
 company is to take my assets (excepting life assurance) as good for their face, 
 and to assume and pay the debts shown on ray books. The profit or loss is to 
 be shared pro rata to the amount of capital each has in the concern. An 
 Interest account between the partners is to be adjusted previously to any 
 division of profit or loss. See articles of copartnership. 
 
 George C. Naylor has contributed in merchandise $20,000.00. 
 
 Charles C. Evelyn has contributed in cash $15,000.00. 
 
 (92) 
 
 PAETNERSHIP SET. 
 Boston, Ut April, 18 — 
 
 1 
 2 
 3 
 4 
 5 
 6 
 7 
 8 
 9 
 10 
 11 
 
 12 
 13 
 14 
 15 
 16 
 17 
 
 Schedule of Assets. 
 Merchandise per Stock Book 
 Ship Sultana, our ^tli 
 Real Estate at Brookline 
 Real Estate at Chelsea, 3 lots 
 Cash, per Cash Book 
 Bank of Commerce, on deposit 
 Bank of the Republic, " 
 Bills Receivable, per Bill Book 
 Fitchburg R. R. Stock 
 Shipment to St. Thomas 
 Shipment to London 
 
 Schedule of Debts. 
 Bills Payable, per Bill Book 
 Vaughn Lloyd, Book Account 
 R. & H. Parkinson " 
 George N. Csmer, Net Capital 
 George C Naylor, " " 
 Charles C. Evelyn, *' - " 
 
 , 1&-. 
 
 Drs 
 
 
 Crs. 
 
 
 $ 
 
 25700 
 
 11000 
 
 10506 
 
 .3000 
 
 00 
 
 J, 
 
 
 
 
 15260 
 
 21 
 
 1 
 
 
 
 3906 
 
 25 
 
 
 
 
 6725 
 
 23 
 
 
 
 
 17463 
 
 57 
 
 
 
 
 4000 
 
 00 
 
 
 
 
 8187 
 
 50' 
 
 
 
 $109,702.76 
 
 4020 
 
 00 
 
 
 
 
 
 
 12625 00 
 
 1 
 
 
 
 
 2622 48 
 
 $15,804.31 
 
 
 ■"■" 
 
 646 83 
 
 5S,8G«.45 
 
 20,000.00 
 
 ,15,000.00 
 
 588(>8 45 
 20000 00 
 15000,00 
 
 $10t),7G2.76 
 
 
 
 
 
 I! 
 
 The opening entries having been made and posted, 
 I now assume that the business progresses in the 
 usual way, sufficient examples of which are already 
 sriven in the other books. At the end of the year, the 
 State of the accounts in the Ledger is as follows : — 
 George N. Comer is debited with $5000, withdrawn. 
 George C. Naylor " " "* 2500, " 
 Charles C.Evelyn" " " 1700, " 
 
 There is a balance to the debit of the following Accts. 
 
 Merchandise 
 
 Cash 
 
 Bank of Commerce 
 
 Bank of the Republic 
 
 Interest 
 
 Bills Receivable 
 
 Expense 
 
 .lames Brown owes 
 
 Niles Hazen " 
 
 («3) 
 
 $31,350.00 
 
 960.00 
 
 29,238.00 
 
 27,939.45 
 
 536.00 1 
 47,325.00 
 5,569.00 
 1,254.00 
 2,345.00 } 
 
 $146,516.45 ! 
 
 in 
 
 4 
 
BOOK-KEEPING. 
 
 BOOK-KEEPING. 
 
 .1 n 
 
 
 • I 
 
 1 
 
 6 
 6 
 7 
 8 
 19 
 20 
 
 12 
 21 
 15 
 16 
 17 
 
 23 
 1 
 
 3 
 
 4 
 
 23 
 22 
 
 18 
 15 
 
 I". 
 
 17 
 
 
 Boston, 31«t March, 
 
 18-. 
 
 Drs. 
 
 CR9. 
 
 
 
 There is a balance to the credit of the following Accts. ] 
 
 
 ' 
 
 
 
 
 Bills Payable 
 
 65,378.00 
 
 
 
 
 
 
 Thomas Adams 
 
 5,700.00 
 
 
 
 
 
 
 Real Estate at Brookline 
 
 ^ 620.00 
 
 
 
 
 
 
 Real Estate at Chelsea 
 
 250.00 
 
 
 
 
 
 
 $G1,&4«.00 
 
 
 
 Upon takin<r stock, the Merchandise 
 
 on band 
 
 
 
 
 
 
 amounts to $6>',317.50. 
 
 
 
 
 
 
 
 Upon making up the Interest Account, 
 
 
 15 
 
 George N. Comer is 
 
 Cr. 
 
 
 
 
 
 18 
 
 For Balance of Interest 
 
 
 3102 
 
 00- 
 
 
 
 16 
 
 George C. Naylor is 
 
 Or. 
 
 
 
 
 
 18 
 
 For Balance of Interest 
 
 
 1065 
 
 00 
 
 
 
 17 
 
 Charles C. Evelyn is 
 
 Cr. 
 
 
 
 
 
 18 
 
 For Balance of Interest 
 
 
 778 00' 
 
 4945 
 
 00 
 
 Boston, Slst March, 18 — . 
 The following entries to close the Books ; 
 
 Assets on hand this day. 
 Merchandise 
 Cash 
 
 Bank of Commerce 
 Bank of the Kcpublic 
 Bills Receivable 
 James Brown 
 Niles Hazen 
 
 Debts due this day. 
 Bills Payable 
 Thomas Adams 
 George N. Comer, Xct Capital 
 George C. Naylor, " " 
 Charles C. Evelyn, « 
 
 (( 
 
 Boston, 31«< March, 18—. 
 Profit & Loss 
 
 For Gain on Merchandise 
 « " " Real Estate at Brookline 
 " " " Real Estate at Chelsea 
 
 Dr.: 
 
 For Balance of Expense Account 
 " Interest 
 
 " George N. Comer's Net Gain 
 " George C. Naylor's " " 
 " Charles C. Evelyn's ' 
 
 (( 
 
 55378 
 5700 
 70123 
 22849 
 17327 
 
 171378 
 
 62317 
 
 960 
 
 29238 
 
 27939 
 
 47325 
 
 1254 
 
 2345 
 
 95 171378 
 
 50 
 00 
 00 
 45 
 00 
 00 
 00 
 
 95 
 
 Cr. 
 
 ««5()9 00 
 5481 00 
 
 13153 30 
 4284 90 
 3249 30 
 
 .30967 
 520 
 
 50 
 00 
 
 250 00 
 
 (W) 
 
 317.37!50:| 3173750 
 
 I I! ^1 
 
 INDEX. 
 
 A. 
 
 Adams, James 
 
 B. 
 
 Bank of Commerce 
 Bank of the Republic 
 Bills Receivable 
 Bills Payable 
 Brown, James 
 
 C. 
 
 Cash 
 
 Comer, George N. 
 
 D. 
 
 Evelyn, Charles C. 
 Expense 
 
 F. 
 
 O. 
 
 Hazen, Niles 
 
 Interest 
 
 H. 
 
 I, J. 
 
 21 
 
 6 
 
 7 
 
 8 
 
 12 
 
 19 
 
 5 
 15 
 
 17 
 22 
 
 20 
 
 18 
 
 Lloyd, Vaughn 
 
 M. 
 
 Merchandise 
 
 N. 
 
 Naylor, George C. 
 
 O. 
 
 13 
 
 R. 
 
 Real Estate at Brookline 
 Real Estate at Chelsea 
 
 S. 
 
 Ship Sultana 
 Stock, Fitchburg R. R. 
 Shipment to St. Thomas 
 Shipment to London 
 
 U,V. 
 IV. 
 
 X, Y, Z. 
 
 16 
 
 P. 
 
 
 Parkinson, R. & H. 
 
 14 
 
 Profit & Loss 
 
 23 
 
 3 
 
 4 
 
 2 
 
 
 
 10 
 
 11 
 
 ii 
 
 ■ i. 
 
 ': ! 
 
 i 
 
 (96) 
 
 in 
 
BOOK-KEEPING. 
 
 Dr. 
 
 
 Merchandise 
 
 • 
 
 
 Cr. ( 
 
 :i) 
 
 18— 
 
 
 i 
 
 
 18— 
 
 
 t 
 
 
 April 1 
 
 On hknd 
 
 Dl 
 
 25700 
 
 Shdd 
 
 
 i:ioooooo 
 
 18— 
 
 Bought 
 
 j 
 
 135650 
 
 00 
 
 Mar.31 
 
 Balance on hand y. 
 
 D2 
 
 62:317 50 
 
 Mar.31 
 
 PioSt k LoM 
 
 D2 j 
 
 30967 
 
 50 
 50 
 
 
 X 
 
 
 • 
 
 
 
 ♦. 
 
 192317 
 
 
 
 $ 
 
 192317 
 
 50 
 
 Dr. 
 
 PARTNERSHIP SET. 
 Bank of the Republic. 
 
 Cr. (7) 
 
 18— 
 April 1 
 
 Depoait 
 Deposit 
 
 $ 
 
 Dl 
 
 6725 23 
 
 21214 22 
 
 1 
 
 18— 
 Mar.31 
 
 Balano* 
 
 1 
 
 D2 
 
 $ 
 
 27939 45 
 
 
 $ 
 
 27939,45 
 
 
 
 27939,45 
 
 Dr. 
 
 18— 
 April 1 
 
 Valusd at 
 
 Dr. 
 
 18— 
 April 1 
 
 !&— 
 Mar.31 
 
 Valaedat 
 Profit k 
 
 Dr. 
 
 Ship Sultana. 
 
 Dl 
 
 11000 
 
 001 
 
 18— 
 May 1 
 
 D. Smith 
 
 Beal Estate at Brookline. 
 
 
 
 
 jl8— 
 
 Dl 
 
 10500 
 
 00 
 
 Sept. 1 
 
 D2 
 
 620 
 
 00 
 
 
 $ 
 
 11020 
 
 oo; 
 
 
 A. Green 
 
 Kbal Estate at Chelsea. 
 
 C 
 
 Cr. (2) 
 
 11000 
 
 00 
 
 Or. (3) 
 
 11020 
 
 $ 
 
 11020 
 
 00 
 
 00 
 
 Cb. (4) 
 
 18— 
 
 
 
 
 1 
 
 18— 
 
 
 
 1 
 
 
 
 AprUl 
 
 Taliud at 
 
 Dl 
 
 3000 
 
 OO 
 
 Oct. 4 
 
 James Dean 
 
 c 
 
 
 3250 00 
 
 18— 
 
 
 
 
 
 
 / 
 
 
 
 
 
 Mar.31 
 
 Profit k LoH 
 
 D2 
 
 250 
 
 00 
 
 
 / 
 
 
 $ 
 
 
 
 
 • 
 
 3250 
 
 00 
 
 1 
 
 
 3250 00 
 
 1 
 
 Dr. 
 
 IS— 
 April 1 
 
 BiU Book 
 R«c*iTe(l 
 
 Dr. 
 
 18— 
 April 1 
 
 Valued at 
 
 Dr. 
 
 18— 
 April 1 
 
 Former Account 
 
 Bills Receivable. 
 
 Dl 
 
 j Ijis— 
 
 17463157 !Mar.31 
 29861 43' 
 
 $ 47325 'oo' 
 
 li II 
 
 Balance 
 
 Fitchburg R. R. Stock. 
 
 Caih 
 
 Shipment to St. Thomas. 
 
 Dl 
 
 8187 50 
 
 18- 
 July 8 
 
 Cash 
 
 Cr. *"* 
 
 D2 
 
 $ 
 
 47325 
 
 47325 
 
 00 
 
 00 
 
 Cr. (9) 
 
 4000 
 
 00 
 
 Cr. (10) 
 
 8187 
 
 50 
 
 iH 
 
 h 
 
 Dr. 
 
 18— 
 April 1 
 
 On hand 
 Beoeired 
 
 Cash. 
 
 Dl 
 
 15260 
 250000 
 
 $ 265200 
 
 21 
 00 
 
 21 
 
 1&- 
 Mar.31 
 
 Paid 
 Balanea 
 
 (96) 
 
 Cr. (5) 
 
 
 264300 
 
 21 
 
 D2 
 
 960 
 
 00 
 
 f 
 
 265260 
 
 21 
 
 I 
 
 tB, 
 
 Bank of Commerck. 
 
 ( 
 
 Cr. ( 
 
 fi) 
 
 18— 
 Aprill 
 
 Deposit 
 Deporit 
 
 Dl 
 
 3906 
 25331 
 
 1 
 25 
 
 75; 
 
 ooj 
 
 18— 
 Mar.31 
 
 Balaaee 
 
 D2 
 
 i 
 
 1 
 
 29238 
 
 00 
 
 
 
 , 292.38 
 
 
 
 29238 
 
 1 
 
 00 
 
 Dr. 
 
 18— 
 April 1 
 
 Former Account 
 
 Dr. 
 
 Shipment to London. 
 
 Dl 
 
 4020 
 
 00 
 
 18— 
 July 8 
 
 Caah 
 
 Bills Payable. 
 
 D2 
 
 55378 
 
 $,, 55378 
 
 18— 
 April 1 
 
 00 
 
 (97) 
 
 Bill Book 
 Delivered 
 
 Cb. (11) 
 
 4020 
 
 00 
 
 Cr. (12) 
 
 Dl 
 
 12625 
 4275:? 
 
 $ 55378 
 
 00 
 00 
 
 00 
 
 HI 
 
i! 
 
 I 
 
 ■s 
 
 Dr. 
 
 18- I 
 May 10 c»8h 
 
 Dr. 
 
 1^ 1 
 3Iayl2|CMh 
 
 Dk. 
 
 IS- 
 IS— 
 Mar.31 
 
 CMb 
 
 Net CapittI 
 
 Dr. 
 
 IS- 
 IS— 
 Mar.31 
 
 CMh 
 
 Nat Capul 
 
 Dr. 
 
 IS— 
 
 Dr. 
 
 BOOK-KEEPING. 
 Vaughn Lloyd. 
 
 Cr. (13) 
 
 Foimer Aoooant 
 
 Dl 
 
 $ 
 
 2622 48 
 
 R. & H. Parkinson. 
 
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BOOK-KEEPING. 
 
 
 il 
 
 
 ! 
 
 d 
 
 COMMERCIAL COMPUTATIONS. 
 
 ACCUEACT AND EAPIDITT IN COMPUTATION 13 ONE OF THE FIRST BXQCISITE3 
 IN A CLKKK. — McCulloch on Conunerce. 
 
 As a very important part of the bnsiness of the counting houpc consists in 
 commercial calculations, the ability, on the part of the mercantile clerk, to 
 make them with rapidity and accuracy, is justly held in estimation. The value 
 of commercial speculations often depends upon a few figures ; and disagreea- 
 ble and unlooked-for results may not unfrequently be traced not only to want 
 of care, but to want of skill in computing. It is somewliat surprising, there- 
 fore, thtit fo little attention should be paid to the practical adaptation of arith- 
 metic to bnsiness. If a young man is tolerably well acquainted with the com- 
 mon ru-es of addition, subtraction, multiplication, aud division, nothiu"- 
 further i- considered necessary. Such things as vulgar fractious, decimal 
 fractions and logarithms, are held as exclusively belonging to scientific men 
 and mechanicians. 
 
 Some notion of what a vulgar fraction is, may perhaps be acquired from the 
 use of si.ch things as ^, ^, |, when tigged to the end of the measure of a 
 piece of cloth, or the price of a pound of sugar. A decimal fraction, however, 
 i» rather a mysterious sort of thing, and as to a logarithm, why, it is on a par 
 with the Egyptian hieroglyphics. 
 
 Vulgar fractions, decimal fractions, and logarithms, although Intimately 
 connected one with another, have their own peculiar properties aud uses • 
 vulgar fractions may, however, be considered the simplest and most rudiment- 
 ary form, and I shall, therefore, commence with a brief exposition of them : 
 a perfect understanding of their properties and uses will facilitate the acquire- 
 ment of the others. 
 
 A fraction, as its name implies, is apart of some one thing -a part of unity. 
 It IS, therefore, always less than unity ; the unity may be any thing, a weight, 
 a measure a portion of time or space, or any thing distinctly conceived as a 
 umtij Thus an ounce, or any number of ounces less than a pound, is a frac- 
 tion of a pound J a minute, or any number of minutes under sixty, is a fraction 
 of an hour ; and so on. 
 
 The form of a vulgar fraction consists of two flffnres placed one above 
 another, and divided by a horizontal line, the figure or figures above this hori- 
 
 ^°n i *u ^ ?°^ ^^^"^""^ *^^ " ««'"^^«<«^." the figure or figures below being 
 called the denominator ; » as, 4, |, j|, in which the upper figures, 1, 3, and 
 15, are the numerators, and the lower ones, 2, 8, and Ifi, arc the denominators. 
 In every vulgar fraction the denominator expresses what number of parts the 
 unity IS supposed to be divided into, and the numerator expresses the number 
 of those parts meant to be indicjited by the fraction, so that th« real value of 
 
 (100) 
 
 commi:rcul computations. 
 
 a fraction is the quotient resulting from a division of the numerator by the 
 denominator ; thus, in the fraction ^, unity is supposed to be divided into two 
 parts, that is, 1 divided by 2 ; |- is 1 divided by 3 ; and so on. If the numerator 
 consistsof morethanl,a8in|^, the same division is supposed to be made, for 
 the fraction -| may be represented by ^ + ^ + |- 5 b"* we economize the use of 
 figures by writing -| at once. By making the numerator really divisible by 
 the denominator, the fractional form will disappear ; thus, suppose i to repre- 
 sent the fraction of a pound sterling ; if the numerator be multipliea by 20, the 
 equivalent value of the pound in shillings, the next lower deuomiuator, it be- 
 comes ^-, and dividing the numerator 20 by 2, we get 10s., the half of the 
 pound. Here the intelligent reader will perceive that to cjill 3^- a fraction does 
 not agree with the previous definition that a fraction must be less than unity : 
 strictly speaking, it is not a fraction ; and arithmeticians have been obliged to 
 distinguish it by the name of an improper fraction. It has the /or/?i of a frac- 
 tion, and that is all. The use of quantities, however, in this form, is attended 
 with so many advantages, that if clearly understood we may put up with the 
 solecism. Let it, however, be firmly impressed on the mind, that all quanti- 
 ties wluitever^ having the fractional for7n, represent the quotient resulting from 
 the division of the numerator by the denominator -. the importance of this will 
 be seen as we proceed. 
 
 From this conception of a fraction it follows that, provided the quotient that 
 would result from the actual division of the numerator by the denominator be 
 the same, both of them may be hidetiuitely increased or diminished. Thus 
 i, 8 5 6 _|8 8 8 are all precisely of the same value, viz., i, or one 
 hall, altiiough their numerators and denominators are so different. Fractions 
 arc constantly occurring whose numerators and denominators consist of num- 
 bers so large, as to render them, so to speak, cumbrous in practice, but which, 
 at the same time, are capable of being reduced to a much simpler form. This 
 will, perhaps, be best understood by a reference to whole numbers. 
 
 lumbers are said to be either />rime numbers, or to be made up or composed 
 of them. Thus the numbers 2, 3, 5, 7, 11, 13, 17, and 19, are prime numbers, 
 because there is no whole number that will divide them without leaving a re- 
 mainder. On the other hand, 4, 6, 8, 9, 10 j 12, 14, 15, 16, and 18, may be re- 
 solved into their elements or prime numbers by division. Thus 4 = 2X2,6 = 
 2x3,8 = 2X2X2,10 = 2X5, 12 = 2X2X3, 14=2X7, 15 = 3X5, 16 = 2X2X2X2, 
 and 18 =.3X3X2. 
 
 The prime or smaller numbers are said to be the ^^ factors " of the larger or 
 composite numbers. Now, suppose any fraction having a complex numerator 
 and denominator, it will immediately be seen that all the prime numbers com- 
 mon to both may be expunged without altering the value of the fraction. 
 Thus the fraction M may be resolved into its elements, thus ; |-|=f x'^x^xTfxTj". 
 in which the 2's in £he numerator, and an equal number of them in tne denom- 
 inator, may be expunged, leaving the fraction Ty^-|^-j=|^ ; or, without complete- 
 ly resolving the fraction into its ultimate elements, we may represent ^ by 
 ^x\-, and expunging the 4's, we have |^, as before. All that we want is to get 
 numbers that are common to the numerator and denominator, in order to throw 
 thom out of the fraction ; the larger these common numbers are, the more the 
 fraction becomes simplified. 
 
 Sometimes it is desirable in practice to increase the terms of a fraction ; in 
 that case all that is necessary is to multiply both numerator and denominator 
 by the same number. Thus, ^ multiplied by 5 gives us |-|, and this again by 
 6 gives us ^4^, a fraction of the same value as 4 ; for, resolve it into factors, 
 and it becomes ^^xf xf ' ^^ which the lO's and S's may be expunged, leav- 
 ing |. 
 
 9* (101) 
 
 Itl 
 
BOOK-KEEPING. 
 
 COMMERCIAL COMPUTATIONS. 
 
 i'ilii 
 
 f ' 
 
 \l f 
 
 ft 
 
 If the numerator of a vulgar fraction be multipliefl by any whole number 
 without, at the same time, multiplyiug the denominator by the same number, 
 the value of the fraction is obviously increaRed. Thus, if the numerator of 
 the fraction | be multiplied by 2, it becomes J, which is greater than 4 — it is 
 double ; unity in both is supposed to be divitied into eight parts, but the first 
 fraction represents 3 only of those parts, while tlie otlier represents fi of 
 the same parts. On the other hand, if the denominator alone be multiplied, 
 the fraction is lessened ; thus, if 8 in the fraction | be multiplied by 2, we 
 have j8^, which is only one half of |; unity in one case bring supposed to be 
 divided into sixteen parts, in the other into eight parts only, while 3 is taken 
 in both instances. Some curious results take place by aiUlivg and subtracting 
 from the terms of a fraction, but they are of little practical utility. 
 
 The application of the common rules of arithmetic to vulgar fractions wi^T 
 be easily understood. Thus, to add two or more fractions together, we must 
 first reduce them to the same denominator. It is clear that we could not adu 
 together two such fractions as |^ and |, without altering their form ; but if we 
 multiply the first by 3, we get y^, and the second by 5, we get 14, and by add- 
 ing together the numerators, we have 1|, which is obviously an improper 
 fraction and actually dividing 19 by 15, we have 1^^, consisting of a whole 
 number and a fraction; and from this example, it will be seen that all im- 
 proper fractions may be expressed as a mixed number, consisting of a whole 
 number and a fraction ; and vice versa, all such mixed numbers may be repre- 
 sented as improper fractions. Thus, in the mixed number 2^, if the whole 
 number 2 be multiplied by the denominator of the fraction, and the numera- 
 tor added to the product, it becomes |- 
 
 In the subtraction of one fraction from another, the smaller numerator is 
 subtracted from the greater, after both are reduced to a common denominator. 
 Thus, to subtract | from f , we have, as before, 4 = A a°d i = |4> and sub- 
 tracting from 10, we have ^l^. 5 1 5 a 1 5 
 
 Fractions are multiplied together by multiplying the numerators together 
 for a new numerator, and the denominators together for a new denominator. 
 Thus, to multiply ^ by ^, we have |^xf -i| = tV ^^ resolving the 8 mto 2 X4, 
 and cancelling the 2*8. 
 
 In the multiplication of fractions, we get a less protluct than either of the 
 separate fractions, which seems a contradiction in terms. Indeed, it cannot 
 be said to be really multiplication at all; the term applies rather to the process 
 used with the two terms of the fraction than to the result. The multiplication 
 of fractions is in reality a species of division, and conversely the division of 
 fractions becomes a species of multiplication, since the result or quotient is 
 greater than the divisor or the dividend. 
 
 The rule usually given, is to invert the divisor, and proceed as in multiplica- 
 tion. Thus, to divide 4 hy4, we invert -J-, which becomes 4, which, multiplied 
 by -|. gives -1^ = 3, which a moment's reflection will show to be right, because 
 3 times X must be 4. Any ambiguity that may result from the terms used, 
 and which are borrowed from the use of whole numbers, will disappear when 
 t!ie use of fractious is thoroughly understood. 
 
 (102) 
 
 DECIMAL FRACTIONS 
 
 are distinoTiished from vulgar fractions by the circumstance of their denomi- 
 nators being always 10 or multiples of 10 — hence the term decimal. Thus 
 2 2 5 ^ 3^5 6 are decimal fractions, but they are not in practice expressed 
 u^thismaniM. The simplicity of the denominator enables us to do away with 
 it altogether, since the numerator itself always indicates the denominator. 
 The three fractions above given are expressed simply by .2, .25, and .350, the 
 dot before each indicating that it is a fraction, and the number of integers 
 pointin"- out the denominator, tchich is ahcays unity with as many ciphers as 
 there are integers. Thus, .2 has for its denominator 10, .25 has for its denomi- 
 nator 100, and .356 has for its denominator 1000. 
 
 It i8 this doing away with the denominator that renders the decimal fraction 
 so useful ; for so long as the dot which points out where the fractional charac- 
 ter commences is correctly placed, the decimal may be treated in every respect 
 like a whole number in arithmetical processes, until the precise value of the 
 fraction is required. . 
 
 As a decimal fraction is a purely artificial sort of thing, fractions being gen- 
 erally presented to us in their vulgar form, (except in cases of decimal weights 
 and moneys, as in this country, France, and other places,) the first step is to 
 transform the vulgar fraction, when necessary, into a decimal having the 
 same value. This we are enabled to effect by multiplying both numerator and 
 denominator b^ such a number as will convert the latter into 10, or a multiple 
 of 10 Thus the vulg.ir fractions ^ and | are converted into the equivalent 
 decimals of A and X\, or .5 and .75, by multiplying the first by 5 and the sec- 
 ond by 25. Tliere are, however, some numbers which cannot be thus brought 
 Into 10, or any multiple of 10. Take the fraction | as an example. It is ob- 
 vious that no multiplier whatever will make the 3 ot the denominator 10, or any 
 multiple of 10 ; for, if such a number could be found, it would follow that 10 
 and every multiple of 10 would be divisible by 3, which is impossible. If we 
 multiply the fraction by 3, we get | only ; if by 33, we get ^ ; if by 333, we 
 get A66 . and though by every step we get nearer the precise number required, 
 yet,^j,^as far as we will, we can never attain it. By taking a sulTicient number 
 of figures, we can render the error so small that it becomes iuiippre liable in 
 practice. Thus, if we should write .6, we should introduce an error of ^^ ; if 
 we take .66, we reduce the error to ji^ ; and if we write .«66, we reduce it to 
 _ 1 ; and so it constantly diminishes in a geometrical ratio with every figure 
 added to the numerator. With all numbers that will not divide 10 and its 
 multiples, such as 3, 6, 7, and 9, we must use these approximative numerators. 
 To convert any vulgar fraction into a decimal, the rule is to divide the nu- 
 merator by the denominator, adding ciphers, of course. Thus ^ becomes .5 
 by dividing 10 by 2 ; -I becoJlies .75 by dividing 300 by 4. If it is necessary to 
 add more than one ciplier in the first instance, as many ciphers must be placed 
 in the quotient after the decimal point or dot, as there have been ciphers used 
 above one. Thus, to convert the iraction ^ into an equivalent decimal, two 
 ciphers must be added to the 1 before it becomes divisible by 25 ; the quotient, 
 therefore, is not .4, which is the equivalent decimal of ^^, but .04 or ^^=-^j. 
 The fraction -jA^, for the same reason, would be expressed by .005. 
 
 With these explanations of the nature of decimal fractions, the application 
 of the common rules of arithmetic will easily be understood. Suppose that 
 we have occasion to add together the mixed numbers 2^, 4^, (>|, 8|, and 7-|. 
 In their present form, it would be necessary to convert them into improper 
 fractions, bring them all to the same denominator, and add together the nu- 
 
 ('■03) 
 
'9 
 
 111 
 
 
 BOOK-KEEriNO. 
 
 merators which would be a troublesome process. But If the fractions are 
 converted into their equivalent decimals, the process of addition will in no 
 way differ from that of whole numbers. Thus : ~ 
 
 2\= 2.25 
 4^= 4.50 
 = 6.75 
 = 8.6G + 
 = 7.80 
 Added together = 29.96 
 It is necessary to be particular in having all the decimal points in one line, and 
 ail trie decimals of the same value underneath one another, just as in whole 
 numbers units are placed under units, tens under tens, hundreds under liun- 
 dreds, and so on ; for as the value of whole numbers is increased tenfold from 
 right to left, so the value of decimals dimiuishos in the same ratio Irom left to 
 right. 567, as a whole number, is represented by 500 + 60 + 7 ; but .507, as a 
 decimal fraction, is represented by ^5 _|_ 6 _^ ^^7 
 
 In subtraction, the decimals and whole numbers being placed according to 
 their value, we proceed as in the common rule j for instance, to subtract Xi i6 
 from 540J267, we write them thus : — 
 
 640.267 
 32.460 
 
 507.807 
 Multiplication Is performed in the same way as in whole numbers, only care 
 must be taken to have tlie decimal point in its proper place. If we have to 
 
 r. ?l^ * o^ ""l^^'r ^'^"°° ^ ^^0 i' '''^ -^* iV' '^^''^'^ i« equal to . 1 } multiply 
 ^l ^^ '^J *"^ "^^ have .10, or ^\, which is ll^e same as J^., or .1, as before. 
 The rule for the placing of the decimal point is to have as many decimals in 
 the product as there are in the multiplier and multiplicand to'^ether Thus in 
 ^ X .2, the figures of the product .10 are both decimals, there being two deci- 
 mals, .5 and .2 ; for the same reason .25 X .5 =.125. and 25.3 x -•.4 = 0O.7> If the 
 product does not, on multiplication, contain a sufiicient number of decimals a 
 cipher or ciphers, as may be necessary, must be added on the left hand side 
 Thus .2 X .2 = M, not .4 ; ..3 X -T = .09, and not .9 ; likewise .O-J X .004 = .0001"' 
 In dtvision as many decimals are pointed off in the quotient as the decimals 
 of the dividend exceed those of the divisor. Thus, to divide ..357 by .7, we -et 
 .51, the dividend having two more decimals than the divisor. In like manu'l'r 
 to divide 25.84 by 7.6, we get 3.4, since the dividend has two decimals, uud the 
 olvlsor one. 
 
 LOGARITHMS. 
 
 The nature of logarithms will be understood by a reference to the followin<r 
 ■erics of figures : — " 
 
 2 4 8 16 32 64 128 256 512 1024 2 (H8 4C)96 
 2^ 2a 28 24 25 2« 7^ 2» 2» 2^^J 2li 2U~~ 
 
 The first is a scries of terms proceeding in what is called geometriciil pro- 
 gression, commencing with 2, and each succeeding term being the multiplica- 
 tion of the preceding one by 2, or, in other words, each term after the nr^t is a 
 power of 2, the second term being the square of 2, the tliird term beiujf the 
 cube, and so on to the twelfth power. 
 
 In the second series, the number 2 is in each term, with its correspondino- 
 power, the actual multipUcation of each beiag louud iminediately above it in 
 the first series. 
 
 (104) 
 
 COMMERCIAL COMPUTATIONS. 
 
 Now, there are these remarkable properties belonging to these series : the 
 addition of the powers in the second series corresponds to multiplication in 
 the other ; subtraction corresponds to division ; raising of numbers to differ- 
 ent powers corresponds to multiplication by the power wanted ; and the ex- 
 traction of roots corresponds to a division of the number by the root wanted. 
 Thus, suppose we have to multiply 64 by 16; 64 = 26, and m = 2*; add there- 
 fore these powers or indices, as they are termed, and we have 10. Refer now 
 to 2i'\ and immediately above it is found 1024, which is the multiplication of 
 CA by 16. Again, to multiply 32 by 128, we have 32 = 25, and 128=2^; the 
 addition of the powers 5 and 7 is 12, which corresponds with 4096=. 32X128. 
 Now, suppose we wish to divide 2048 by 512 : 2048 = 2", and 512 = 29 ; subtract 
 9 from 11 and the remainder is 2, which corresponds to 4=2048 divided by 512. 
 
 Required now the sixth power of 4 = 22. Multiply the index 2 by 6, and we 
 iTave 12, and 2 12 =4096 = the sixth power required. 
 
 Again, what is the cube root of 512.-' 512 = 2 9. Divide the 9 by the root 
 required, 3, and the quotient is 3, which corresponds to 8 in the first series^ 
 and which is the cube root of 512. 
 
 Tables constructed on this principle for all numbers sufficiently high for 
 practical purposes, will enable us at once to dispense with multiplication and 
 division as usually practised, and which are the most prolific source of errors ; 
 whilst, as to powers, we have in most cases a very simple multiplier, and in 
 the extraction of roots, as simple a divisor. These tables exist in the common 
 books of logarithms, which, however, are not based upon the number 2, but 
 upon the number 10, a mode of construction which has many practical advan- 
 tages over any other number. 
 
 Thus, commencing with 10, we have the series 10, 100, 1000, 10,000, 100,000, 
 and so on, being a geometrical progression whose ratio is 10, the indices or 
 powers being in an arithmetical progression, whose difference is 1. Thus lOi, 
 102, 103, 10*, 105, &c. Hence, as the index of 10 is 1, and the index cf 100 2, 
 all numbers betioeen 10 and 100 will have the index 1 with a decimal fraction 
 added to it ; all numbers between 100 and 1000 the index 2 with a fraction ; 
 while all numbers below 10 will have an index less than 1 ; in other words, the 
 logarithm will consist simply of a fraction. An example will perhaps make 
 this clear. Suppose we wish to multiply 312 by 14. The logarithm of 312, 
 from Bowditch's tables, is 2.49415 
 and the logarithm of 14 is 1.14613 
 
 added together they become 3.64028, which is a logarithm whose natural num- 
 ber is found, from the same tables, to be 4368 = 312X14. 
 
 The great advantage of making 10 the base of the logarithm is, that the in- 
 dex is always known from the number of digits in the natural number. If this 
 last consist of 2 digits, the index is 1 ; if of 3 digits, the index is 2 ; if of 4 
 digits, the index is 3 ; and if of 1 digit, the index is ; the index being always 
 one less than the number of digits. 
 
 These principles being well understood, the computation by logarithms 
 differs in no respect from the common rules, except that the addition of loga- 
 rithms corresponds to the multiplication of natural numbers, subtraction to 
 division, multiplication to the raising of powers, and division to the extraction 
 of roots. 
 
 (106) 
 
 iS 
 
 111 
 
BOOK-KEEPING. 
 
 INTEREST. 
 
 i 
 
 I 
 
 TyTEREST is Pimply the use of money. For example, A borrows of N one 
 hundred dollars, on his note for one year ; and at the end of the year, when 
 A pays or takes up his note, he delivers to N one hundred and six dollars. If 
 tlie question is asked of almost any one but an accountant, whether interest 
 in the above case is received by A or N, the answer will almost invariably be 
 that X receives it. But such is not the fact. A receives the use of the money 
 or interest, and pays N six dollars for the same. This distinction between the 
 use of money, or interest, and the sum paid for that use, is of the first impor- 
 tance to an accountant, for it is only by comprehending- this subject according 
 to its true meaning^, that he is enabled to post intelligently such entries on his 
 books as are affected by interest. If a merchant pays for the use of money, 
 liis books must show that he has received that use, or "interest," and he 
 places it to that side of his interest account which represents interest received ; 
 and if he receives value for the use of money, or " interest," his books must 
 show that he has delivered that use or interest, and he places it to that side 
 of the interest account which represents interest delive ed. For example see 
 Day Book entry of the 26th February, page 20. 
 
 It is believed that the above explanation will sufficiently illustrate the dif, 
 ference between Interest and the value received or paid for it j and although 
 I have put the questions by which I design to show the methods of com- 
 puting interest in the usual form, (as for example, I say, •' What is the interest 
 of $500 for 7 months ? " instead of saying, " How much must be paid for the 
 interest of $500 for 7 months.' ") yet I do this for convenience sake, and not 
 from any intention to overlook the true definition of interest. 
 
 WHEN INTEREST IS DUE, AND WHEN IT MAT BE COLLECTED. 
 
 It is due on each item charged in account after the expiration of the term 
 of credit upon which such item was sold. 
 
 It is due on a note which is not paid at maturity, and may be collected for 
 every day during which the note remains unpaid, including the days of grace, 
 to which the maker would have been entitled had he paid the note at maturity 
 
 It 18 due to each member of a firm, and accrues on the amount of capital 
 contributed by each to the joint stock, from the time it is advanced, and is also 
 due from each member of a firm to the partnership, on each sum char<red to 
 him from Its date, unless specifically provided for to the contrary in the arti- 
 cles of copartnership. 
 
 It is due on the balance of an account current, or the net proceeds of an 
 account sales from the date upon which such balance or net proceeds is pay*, 
 ble m cash. ^ ^ 
 
 It is d„o on a note payable on demand after the demand has ftcen made, if no 
 provision has been made in the note for the payment of Interest. 
 
 (106) 
 
 INTEREST. 
 
 It Is due upon a claim for rent from the time the rent is payable. 
 
 No part of the interest on a note is due until the note itself is due, except 
 where it is specified in the note that it is payable annually, semi-annually, or 
 at some other fixed time. 
 
 COMPUTATION OF INTEREST. 
 
 There is no class of computations to which a book-keeper is obliged to devote 
 BO much of his time as to those included in the various operations under the 
 general title of interest. These computations are of more general application 
 than might be at first supposed, affecting as they do the settlement of accounts, 
 averaging accounts of sales, making up accounts current, equalizing terms of 
 credit, &c., &c. This constant demand upon a book-keeper's time, arising 
 from a variety of cases to which the computations of interest are applied, ren- 
 ders it obvious to every one who will give the subject any attention, that a 
 method which shall be easily retained in the memory, applicable to all lengths 
 of time and any rate per cent., and which shall yield results with accuracy and 
 rapidity, is of the first importance to an accountant, and should claim the 
 attention of every business man ; and T have never found a method so easily 
 understood, so general in its application, or so rapid in its results, as the one 
 recommended here. ^ 
 
 At six per cent, per annum, the interof + on any sum for one year is x qT of 
 
 that sum, and for 2 months, or ^ of o-io yc.r, it must be -^-i^^ of llie principal. 
 
 Again, in 200 months any sniii of money, at six i>er cent, per annum, will 
 
 gain^an amount of uiterest equal to itself; in -^^ of that time, it must gain ^^j- 
 
 as much, and so on. 
 
 Therefore, let $857.03 = the principal ; 
 
 and 857.03 is the interest for 200 months ; 
 
 and 85.763 is the interest lor 20 months ; 
 
 and 8.5763 is the interest for 2 months j 
 
 and ,85763 is the interest for days. 
 These results are obtained by simply changing the position of the decimal 
 point. Hence we derive the following 
 
 Rule for Computing Interest at 6 per cent. 
 
 Take JU of the given principal for Jhe interest for 20 months ; take y^ of 
 the given principal for the Interest tbr 2 months ; take j-^-^ of the given prin- 
 cipal for the interest for 6 days, and from the interest so obtained, compute 
 for any other time required. 
 
 Note. The sum loaned is called fhe principal ; principal with the interest 
 added makes the amount. 
 
 What is the interest of 
 What is the interest of 
 What is the interest of 
 What is the interest of 
 
 $100 for 2 months.* 
 
 56 for 2 months.* 
 
 5 for 2 months.* 
 
 1250 for 5 months? 
 
 illustration. 
 
 Ans. $1.00. 
 
 Ans. .56. 
 
 Ans. .05. 
 
 Ans. 31.25. 
 
 $12.50 = interest for 2 months. 
 
 12.50 = 
 6.25 = 
 
 
 2 
 1 
 
 $31.25= " " 5 
 
 What is the Interest of $367.75 for 9 month*? 
 
 (107) 
 
 « 
 it 
 
 Ant. $16.5&. 
 
 ill 
 
 ii^ 
 
 II 
 
i 
 
 
 BOOK-KEEPING. 
 ILLUSTRATION. 
 
 9 3.6775= interest for 2 months. 
 4 
 
 14.7100= " 
 Half of 2 months' interest, 1.8387= " 
 
 8 
 1 
 
 What is the interest of f 150 
 What is the interest of 500 
 What is the interest of 67. 
 What is the interest of 375 
 What is the interest of lOOO 
 
 $16.5487= " «« 
 
 for 7 months .' 
 for 9 months.' 
 ■5 for 1 year 7 months ? 
 for 15 days ? 
 for 26 days .' 
 
 <« 
 i< 
 
 Ans. $5.25. 
 
 Ans. 22.50. 
 
 Ans. 6.44. 
 
 Ans. .94. 
 
 Ans. 4.33. 
 
 $1.00.0= interest for 6 days. 
 4 
 
 ILLUSTRATIOK. 
 
 4.00.0 = 
 .33.3 = 
 
 
 « 24 
 
 " 2 
 
 <c 
 
 $4.33.3 = «' 
 
 it 
 
 26 
 
 ► or, 
 
 3) 10.00 = interest for 60 days. 
 
 3.33 = 
 1.00 = 
 
 (( 
 (i 
 
 « 
 
 20 " 
 6 " 
 
 $ 4.33 = 
 
 What is the interest of $960 for 11 days .' 
 What is the interest of 25 for 19 days .' 
 What is the interest of 900 for 27 days .' 
 What is the interest of 386 for 25 days .' 
 
 COMPUTING TIME. 
 
 ' « 26 " 
 
 Ans. $ 1.76. 
 Ans. .08. 
 Ans. 4.05. 
 Ans. 1.61. 
 
 les^tha^ Jvf !!^''t °^ '•^«'^°°^°S *he time between two dates that are 
 Z IZ ^ *^^'*; " ^^ '°"°' *^" ""'"^'' °f <^*y« ^hi«h intervene betweon 
 the dates, givm^f each month the exact number of days which it contrns 
 But this course is too tedious, inasmuch as it would require, in order that the 
 «ho ,H fi Vi^"''' "^ ""'r'"'^' ^^'■^'^*' *^«* *h« interest^on the g^ven prin ipa! 
 which th^H ^"^P"*^^^^':^"^ y««>-. and of that interest, the fractional pari 
 which the days represent of a year would have to be taken. For example if 
 It 18 desired to know the exact interest of $300 from May Ist to December 
 2oth, we should compute the interest for 1 year, which is $18. Then count the 
 number of days between the dates, (not countin- the day we start from, but 
 counting the one we reckon to,) which is Zi8. The time between May Ist and 
 
 of $18 18 the exact interest for a38 days. Instead of the above method of com- 
 puting time, business men adopt the following, which is more convenient, and 
 sufficiently accurate. Count thewhole number of months, and the odd davs 
 rnus, m reckoning from November 20th, 1859, to March 6th, 1860, we should 
 count from >ovember 20th to December 20th as one month, thence to January 
 20th as two months, thence to February 20th as three months, and the 9 days 
 left m lebruary and 6 days in March making 15 days, the whole time is 
 counted as 3 months, 15 days. Another method sometimes adopted is. to 
 count the exact number of days between the dates, and then divide them into 
 months of 30 days each. This course is objectionable, as it gives too much 
 interest, the excess amounting to nearly $1 in every $73 of interest obtained 
 'LrH'^^T J\l ^-^amples given in the annexed table, the computations 
 are made by the three methods referred to above, in order to show the exact 
 Interest for the various lengths of time, and the variation from the exact in- 
 terest, which results from the different modes of counting the time. 
 
 (106) 
 
 INTEREST. 
 
 The student is advised to copy the amounts and dates, and make all the 
 computations himself, without reference to the results given in the book, un- 
 til he has completed his own work. By adopting this course, he will become 
 thoroughly familiarized with the different modes of reckoning the time and 
 the interest. 
 
 
 
 
 
 
 II 
 
 
 Int. by 
 
 Int. at 
 
 Princi- 
 
 Time from 
 
 
 Months and 
 
 Exact 
 
 Mos. and 
 
 30 Days 
 
 pals. 
 
 1859 to 1859. 
 
 Days. 
 
 Days. 
 
 Interest. Days. 
 
 to the Mo. 
 
 $375 
 450 
 
 50 
 75 
 
 April 3. 
 Jan. 15. 
 
 Sept. 1. 
 July 17. 
 
 151 
 
 1&3 
 
 4 
 6 
 
 29 
 2 
 
 $ 9 
 13 
 
 32 $ 9 
 56 13 
 
 32 
 67 
 
 $ 9 
 
 13 
 
 45 
 75 
 
 600 
 
 00 
 
 Sept. 1. 
 
 Dec. 31. 
 
 121 
 
 4 
 
 
 11 
 
 93 12 
 
 00 
 
 12 
 
 10 
 
 .340 
 
 00 
 
 May 10. 
 
 Dec. 15. 
 
 219 
 
 7 
 
 5 
 
 12 
 
 24 12 
 
 18 
 
 12 
 
 41 
 
 879 
 
 20 
 
 July 7. 
 
 Oct. 31. 
 
 116 
 
 3 
 
 24 
 
 16 
 
 77 16 
 
 71 
 
 17 
 
 00 
 
 50 
 
 00 
 
 May 1. 
 
 Dec. 30. 
 
 243 
 
 7 
 
 29 
 
 2 
 
 00 1 
 
 99 
 
 2 
 
 03 
 
 960 
 
 00 
 
 July 1. 
 
 Dec. 31. 
 
 1&3 
 
 6 
 
 
 28 
 
 88 28 
 
 80 
 
 29 
 
 28 
 
 1000 
 
 00 
 
 June 30. 
 
 Dec. 31. 
 
 181 
 
 6 
 
 1 
 
 30 
 
 25' 30 
 
 1 
 
 17 
 
 30 
 
 6/ 
 
 800 
 
 00 
 
 Oct. 1. 
 
 Dec. 15. 
 
 75 
 
 2 
 
 14 
 
 9 
 
 86 9 
 
 87 
 
 10 
 
 00 
 
 37 
 
 00 
 
 Jan. 15. 
 
 Nov. 15. 
 
 304 
 
 10 
 
 
 1 
 
 85^1 1 
 
 85 
 
 1 
 
 8/ 
 
 368 
 
 00 
 
 Feb. 14. 
 
 Oct. 31. 
 
 259 
 
 8 
 
 17 
 
 15 
 
 67| 15 
 
 76 
 
 15 
 
 89 
 
 200 
 
 00 
 
 Jan. 12. 
 
 Apr. 15. 
 
 93 
 
 3 
 
 3 
 
 3 
 
 06j 3 
 
 10 
 
 3 
 
 10 
 
 300 
 
 00 
 
 May 1. 
 
 Dec. 25. 
 
 238 
 
 7 
 
 24 
 
 11 
 
 74| 11 
 
 70 
 
 11 
 
 9U 
 
 750 
 
 00 
 
 June 10. 
 
 Nov. 10. 
 
 153 
 
 5 
 
 
 18 
 
 86 18 
 
 75 
 
 19 
 
 13 
 
 870 
 
 00 
 
 Jan. 31. 
 
 Nov. 15. 
 
 288 
 
 9 
 
 15 
 
 41 
 
 19, 41 
 
 3;i 
 
 41 
 
 76 
 
 360 
 
 00 
 
 Feb. 10. 
 
 May 27. 
 
 106 
 
 3 
 
 17 
 
 6 
 
 27! 6 
 
 42 
 
 6 
 
 36 
 
 75 
 
 00 
 
 Feb. 27. 
 
 May 31. 
 
 93 
 
 3 
 
 4 
 
 1 
 
 15! 1 
 
 1 
 
 18 
 
 1 
 
 16 
 
 3000 
 
 00 
 
 July 3. 
 
 Oct. 15. 
 
 104 
 
 3 
 
 12 
 
 51 
 
 29| 51 
 
 00 
 
 62 
 
 00 
 
 480 
 
 75 
 
 Sept. 1. 
 
 Dec. 31. 
 
 121 
 
 4 
 
 
 9 
 
 56 9 
 
 02 
 
 9 
 
 /O 
 
 750 
 
 1 
 25 
 
 July 7. 
 
 Dec. 15. 
 
 161 
 
 5 
 
 8 
 
 19 
 
 86 19j70 
 
 20 
 
 13 
 
 200 
 
 00 
 
 Feb. 15. 
 
 July 15. 
 
 150 
 
 5 
 
 
 4 
 
 93 5] 00 
 
 5 
 
 00 
 
 344 
 
 60 
 
 Mar. 10. 
 
 Dec. 10. 
 
 275 
 
 9 
 
 
 15 
 
 58; IS 
 
 151 
 
 .|69 
 
 15 
 
 /9 
 
 
 1$ 335 
 
 82 $ 33£ 
 
 $ 340 
 
 48 
 
 A six months' note, dated either on the 28th, 29th, 30th, or 31st of August, 
 in any year excepting the one next preceding leap year, will become due, with 
 grace added, on the 3d of March. A bill of goods sold on either of the days 
 in August mentioned above, on six months' credit, will become due on the 
 28th of February ; and in making up accounts current, when it is required to 
 reckon the time forward from the 28th of February, we should say that from 
 the 28th of February to the 28th of March, is one month, to the 28th of April 
 is two months, and so on, and not say from the last of February to the last 
 of March is one month, and to the last of April is two months. 
 
 INTEREST AT DIFFERENT RATES PER CENT. 
 
 Interest may be computed at different rates per cent, by finding the interest 
 at 6 per cent, first, and adding to or deducting from this interest, as may be re- 
 quired. Or the interest may be computed for one year, by multiplying the prin- 
 cipal by the given rate per cent., and dividing by 100, which will always give the 
 interest on any sum, at any rate per cent., for one year ; and from this interest 
 compute for any number of years or parts of a year. Either plan may be 
 10 (109) 
 
 • i 
 
T. I 
 
 t i 
 
 BOOK-KEEPING. 
 
 adopted, as will be found most convenient. As a (general thing, however, the 
 latter mode requires fewer ligures. A careful person would be likely to work 
 hi8 examples by both methods, and by this means obtain proof of the accu- 
 racy of his work. 
 
 What is the interest on $3703.89 for 1 year 4 months 2 days, @ 5 per cent. ? 
 
 xxr^, ^ . x,_ . ■^^«- $251.97. 
 
 What 18 the mterest on $620.84 for 2 years 6 months 26 days, @ 4 per cent.? 
 
 ^., . Ans. $(>4.49. 
 
 W hat IS the interest on $4430.88 for 3 years 1 month 28 days, s 7 per cent. .' 
 
 __- Ann. $9S0.46. 
 
 What is the interest on $1375 from November 10, 1860, to February 25, 1,s61 
 © 2 per cent, a month ■> ^„^_ ^9,;^ ' 
 
 To ascertam how long a time is requin^d for a given principal to earn a given 
 amount of interest. Divide the interest to be earned by the interest ou the 
 pnncipal for one month, and the quotient wiU be the number of mouths and 
 the fractional part of a month required. 
 
 Example : How long must $385.56 be on interest to gain $10.15, at 6 per cent. ? 
 
 2) 3.8556 
 
 1.8278= 1 mo. Int. 
 
 ILLUSTRATION. 
 
 1.9278)$10.15(5m.8da. Ans. 
 9.f)390 
 
 .5110 
 x30 da. in a mo. 
 
 153300 
 154224 
 
 How long must $3756.80 be on Interest to earn $301.80, at 6 per cent. .» 
 
 „ , 1 y. 4 m. 2 da. 
 
 How long must $763.80 be on interest to earn $124.12, at 6 per cent. .' 
 
 _ , 2 yr. 8 m. 15 da. 
 
 How long must $350.75 be on interest to earn $18.62, at 7 per cent. .' 
 
 _ , 9 m. 3 da. 
 
 How long must $1700 be on hiterest to earn $127.50, at 5 per cent. ? 
 
 1 yr. 6 m. 
 PARTIAL PAYMENTS ON PROMISSORY NOTES. 
 
 The following directions for casting interest upon notes where partial pay- 
 ments have boen made, is of so much importance, and will be found so bene- 
 ficial to the business man, that I have deemed it necessary to insert it entire. 
 It is taken from the Massachusetts Reports, volume 17, page 417. 
 
 Dean vs. Willia>is. 
 In casting interest upon bonds, notes, Ac, upon which partial payments 
 have been made, every payment is to be first applied to keep down the inter- 
 est ; but the interest is never allowed to form a part of the principal, so as to 
 carry interest. , 
 
 By the Court. — One of the methods of casting interest where partial pay- 
 ments have been made and indorsed on bonds, notes, or other securities for 
 money, is to calculate the interest from the date of the security, or the time 
 when the interest is to commence, to the time of the first payment indorsed, 
 to add this to the principal, and from the sum to subtract the payment. On 
 this remainder interest is cast to trie time of the second indorsement, which 
 te added to the remainder, and from the sum is subtracted the second indorse- 
 
 (110) 
 
 
 INTEREST. 
 „ent In like manner interest is cast from one payment to another, and to 
 
 interest, which the law does not allow J^«; ;«^^ ^ "^' J^^^^^ ^own the in- 
 ^Ztt^^l^ :;• n^v^ar i' ^'Sr: ptr„AJpH.c.pal so .. 
 
 commenced to the ^^ ''* ^^^^ '^^^^^ precedin- payments, if any, the interest at 
 
 ^oitrSh of January, 1859,. note wa, given for »15C«, payable o» demand, 
 With interest. There was paid on the note, 
 12th June, 1859, $200. 
 
 15th Sept., " 
 15th Dec. " 
 3d Jan., 1860, 
 12th July, " 
 31 St Dec " 
 
 370. 
 200. 
 100. 
 20. 
 300 
 
 3l8t L>ec- " OVA/. *i,«„^„.? 
 
 Settled 10th January, 1861. What amount was then due 
 
 illustration. 
 
 $1500 
 
 38 int. 5 mos. 2 days. 
 
 1538 
 200 iBt payment. 
 
 1338 
 
 20.74 int. 3 mos. 3 days. 
 
 i:j58.74 
 370.00 2d payment. 
 
 988.74 
 14.83 int. 3 months. 
 
 1003.57 
 200.00 3d payment. 
 
 803.57 
 2.54 int. 19 days. 
 
 806.11 
 
 100.00 4th payment. 
 
 706.11 
 42.13 int. 11 mo. 28 days. 
 
 748.24 
 
 320.00 5th and 6th payments. 
 
 428.24 
 
 .71 int. 10 days. 
 
 $428.95 due 10th January, IMl. 
 (HI) 
 
 i f«*i 
 
 (I 
 
 i *i 
 
 i: 
 
1^ 
 I 
 
 k» 
 
 BOOK-KEEPING. 
 •3000. 
 
 James H. Blackie. 
 _ , George Hembold. 
 
 on the note at that date ' ««"u«ry .iisi, laei. What was due 
 
 Ans. $278.18. 
 
 CREDIT TABLE. 
 
 ^ 
 
 Date. 
 
 January. 
 
 February. 
 
 March. 
 
 April. 
 
 May. 
 
 June. 
 
 July. 
 
 August. 
 
 September. 
 
 October. 
 
 November. 
 
 December. 
 
 Four Montlu. 
 
 May. 
 June. 
 July. 
 
 August. 
 
 September. 
 
 October. 
 
 November. 
 
 December. 
 
 January. 
 
 February. 
 
 March. 
 
 April. 
 
 Six Months. 
 
 July. 
 
 August. 
 
 September. 
 
 October. 
 
 November. 
 
 December. 
 
 January. 
 
 February. 
 
 March. 
 
 April. 
 
 May. 
 
 June. 
 
 Eight Monthi. 
 
 September. 
 
 October. 
 
 November. 
 
 December. 
 
 January. 
 
 February. 
 
 March. 
 
 April. 
 
 May. 
 
 June. 
 
 July. 
 
 August. 
 
 It t *JS ^"' """^ ""' '■"" ""' "'" --- O'^" ^ «>«. the one on which 
 It t Tit"' "'*" "'" *"' "- » «■« •->» ^'y of the week as that on whieh 
 It t ^ ''''' ""^ ""' '■'" "- '"» -* <"y» '«ter than the one on which 
 
 ANNUAL INTEREST. 
 
 v'Xi:::Xl^ indrmryrcoS:d\"tr ^':f t ^-^ - ^^^ ^^^-* 
 
 not collected at that time, The i^tereSp tl '°**, **^ "^"^ ^"" ' ^"* ^ '* *« 
 Original pH„a>a? muriot be ncreased bv anv^^HH^'""^''/"'^^'^'' ^*^ *^« 
 The amount due on any note drawint InL.^ f *i°^/^ ^^'^'"'^ ^"t^'-^^*- 
 paid on it until maturity, consistfofthp^ntni^i^^^ if nothing has been 
 simple interest on J^ iZofl^^^'^^^^S ' ' ^^'^'^'^ interest.aad 
 
 (112) 
 
 INTEREST. 
 
 COMPOUND INTEREST. 
 
 Compound interest is the use of both principal and interest, aft-^r the time 
 when the simple interest has become due, and is not paid, but is allowed to be 
 added to, and thus to increase, the original principal. Semi-annual interest is 
 the same as compound interest, except that it is computed by half yearly in- 
 stead of yearly rests. A man may receive compound interest, without being 
 liable to the charge of usury, provided tlie borrower chooses to pay compound 
 interest ; but the creditor cannot legally collect any more than simple interest 
 on any note or debt. 
 
 In computing compound interest, first ascertain the simple interest on the 
 principal to the time when the interest is deemed to be due ; add that interest 
 to tlie principal, and consider the amount a new principal, upon which simple 
 interest is to be computed till the termination of the next period, and so on. 
 The original principal deducted from the last amount will leave the compound 
 interest. 
 
 What is the compound interest of $500 for 3 years 4 months, at 6 per cent, 
 per annum ? 
 
 
 Ans. $107.42. 
 
 ILIJJSTRATION. 
 
 • 
 
 Principal for the 1st year, 
 
 600 
 6 
 
 Interest for the 1st year, 
 
 30.00 
 
 
 500. 
 
 Principal for the 2d year, 
 
 530.00 
 6 
 
 Interest for the 2d year, 
 
 31.8000 
 
 
 530.00 
 
 Principal for the 3d year. 
 
 5G1.80 
 6 
 
 Interest for the 3d year, 
 
 a3.7080 
 
 
 561.80 
 
 Principal for the 4th year, 
 
 595.51 
 6 
 
 Interest for 4th year, div. by 
 
 3 ) 35.7305 
 
 Interest for 4 months. 
 
 11.91 
 
 Principal for 4th year. 
 
 595.51 
 
 Amount for 3 years 4 mos., 
 
 607.42 
 
 Deduct 1st principal, 
 
 500.00 
 
 Compound interest, 
 
 107.42 
 
 A young man receives a bequest of $800, which he deposits in a savings bank 
 on the day that he is 17 years of age. How much will he have to his credit 
 ill the bank when he is 21 years of age, provided he withdraws nothing during 
 the time, and the bank allows him 5 per cent, interest per annum, payable 
 semi- annually ? Ans. $974.72. 
 
 10* (113) 
 
 i;- 
 
 li 
 
 ->^ 
 
lift 
 
 ■f 
 
 BOOK-KEEPING. 
 
 INTEREST. 
 
 II 
 
 
 1 1* ' i 
 
 it 
 
 t « 
 
 TABLE, 
 
 Showing the Amotmt of £\ or §1, /or 30 Tears, at 5, 6, and 7 per cent^ 
 
 Compound Interest. 
 
 Years. 
 
 5 per cent. 
 
 • 6 per cent 
 
 7 per cent 
 
 1 
 
 1.0 5 
 
 1.060000 
 
 1.070000 
 
 2 
 
 1.10 2 5 
 
 1.12 3 6 
 
 1.14 4 900 
 
 3 
 
 1.15 7 2 5 
 
 1.19 10 16 
 
 1.2 2 5 043 
 
 4 
 
 1.215506 
 
 1.262477 
 
 1.310795 
 
 5 
 
 1.270281 
 
 1.338225 
 
 1.402552 
 
 6 
 
 1.340095 
 
 1.4 18 5 19 
 
 1.500730 
 
 7 
 
 1.4 7 10 
 
 1.503630 
 
 1.605781 
 
 8 
 
 1.477455 
 
 1.593848 
 
 1.718186 
 
 9 
 
 1.551328 
 
 1.689479 
 
 1.838459 
 
 10 
 
 1.628894 
 
 1.790848 
 
 1.9 G 7 15 1 
 
 11 
 
 1.710339 
 
 1.898299 
 
 2.104852 
 
 12 
 
 1.795856 
 
 2.0 12 19 7 
 
 2.252191 
 
 13 
 
 1 . 8 8 5 C 4 9 
 
 2.132928 
 
 2.409845 
 
 14 
 
 1.979931 
 
 2.260904 
 
 2.578534 
 
 15 
 
 2.0 7 8 9 2 8 
 
 2.396558 
 
 2.759032 
 
 16 
 
 2.182875 
 
 2.540352 
 
 2.9 5 2 164 
 
 17 
 
 2.292018 
 
 2.692773 
 
 3.158815 
 
 18 
 
 2.4 6 G 1 9 
 
 2.8 5 4 3 3 9 
 
 3.379932 
 
 19 
 
 2.526950 
 
 3.025600 
 
 3.6 16 5 2 8 
 
 20 
 
 2.6 5 3 2 9 7 
 
 3.2 7 13 6 
 
 3.8 6 9 6 8 5 
 
 21 
 
 2.785963 
 
 3.399564 
 
 4.140563 
 
 22 
 
 2.925260 
 
 3.G 3 5 3 9 
 
 4.430403 
 
 23 
 
 3.071524 
 
 3.819750 
 
 4.740530 
 
 21 
 
 3.225100 
 
 4.048935 
 
 5.0 7 2 3 6 7 
 
 25 
 
 3.386355 
 
 4.291870 
 
 5.427434 
 
 26 
 
 3.555673 
 
 4.549383 
 
 5.807352 
 
 27 
 
 3.7 3 345 7 
 
 4.8 2 2 347 
 
 6.213868 
 
 28 
 
 3.920130 
 
 , 6.111688 
 
 6.6 4 8 8 3 8 
 
 29 
 
 4.116136 
 
 5.4 18 3 8 9 
 
 7.1 14 2 5 7 
 
 90 
 
 4.321943 
 
 5.743493 
 
 7.6 12 2 55 
 
 By the use of the above table, the labor of computing compound interest is 
 greatly reduced, for by multiplying the amount of £l or $1 for any number 
 of years, not exceeding 30, by the given principal, the interest is at once 
 obtained. 
 
 "What is the compound interest on $775 for 5 years, at 7 per cent. .' 
 
 Ans. $311.98. 
 
 Amount of $1 for 5 years at 7 per cent, by table, 
 
 Deduct principal, 
 (114) 
 
 1.402552 
 X775 
 
 $1086.97778 
 775. 
 
 $311.97778 
 
 COMrUTATIONS OF INTEREST ON STERLING CURRENCY. 
 
 The lo^al rate of interest in England is 5 per cent. ; and we compute Interest 
 on pounds, shillings, and pence, by the two rules given below. 
 
 The first will give the exact rosult in all cases. The second rule is a shorter 
 and more rapid method, and although not so accurate as the first, is yet suffi- 
 ciently so for ordinary purposes, and is very useful in making out accounts 
 
 current, averaginfr, &c. 
 
 Rule 1st. Multiply the principal expressed in pounds, and decimals of a 
 pound, by the rate per cent., and divide by 100 ; the result will be the interest 
 for one year. From this interest we compute for any number of years and 
 parts of a year required. 
 
 Note. As the time for computing interest on sterling currency, between 
 two dates, must be reckoned in years and days, and not in years, months, and 
 days, it is necessary to get that fractional part of a year's interest for days 
 which the days represent of a year. 
 
 Rule 2d. Multiply the number of pounds and decimals of a pound by the 
 number of days, and divide the product by 30. The quotient will be the answer 
 in pence, from which one penny in every 73 pence must be deducted to give 
 the right result. 
 
 Reason of the rule : The rate of interest being 5 per cent, per annum, a 
 pound will earn a penny a month. This will be clearly seen from the follow- 
 ing statement : If £5 sterling (that is, 100 shillings) are paid for £100 sterling 
 for one year, then 1 shilling is paid for £1 for one year, and 1 penny is paid 
 
 for £1 for ^ of a year, or one month. 
 Hence it lollowsl 
 
 ^^^ i that the number of pounds in the principal is equivalent to the 
 
 number of pence which that principal will earn in one mouth. For example ; 
 £ 100 sterling in one month will earn 100 pence ; £75 sterling, 75 pence, and so 
 on ; and to get the interest for any number of days more or less than a month, 
 it is only necessary to multiply by the number of days, and divide by 30. But as 
 30A days are just ^ of a year, we should use .30^^,^ for a divisor, instead of 
 3o] and to avoid the trouble of using this mixed number for a divisor, we re- 
 duce the quotient derived from dividing by 30 enough to give the same result 
 as would be obtained by dividing by 30^^, which reduction must be -^^, or 1 
 penny for every 73 pence. 
 
 What is the interest on £375.14.6 for 2 years 6 months ? Ans. £46.19.4. 
 
 ILLUSTRATION. 
 12|6 
 20 14.5 
 375.725 
 
 5 per cent. 
 
 £18.78625= 1 year's interest. 
 
 2 years. 
 £37.57250 = 2 years' interest. 
 9.30312 = G months' interest. 
 
 £46.90562 
 20 
 
 8. 19.31240 
 
 12 
 
 d. 3.74880 
 
 (115) 
 
 it 
 
 :tl 
 
 II 
 
BOOK-KEEPING. 
 
 What i8 the interest of £CiO. 10.7 for 3 years 4 months > Jns £ lo 1 9 
 
 What is the interest of £500.5.3 for 1 year 9 months > Am ' £43 iVg* 
 
 What 18 the interest on £37.7.0 from Ist July to 17th September ? ' ' * 
 
 Ans. 7 B. 6 d. 
 
 ILLUSTRATION. 
 
 £37.375 X. 05 =1.86875. X78= 145.7G20- 365= £..39935 = 7 8. lid. 
 Or by the 2d Kule, 
 
 £37. X 78= :J886 -T- 30 = 96. — 1 = 95 pence, or 7 s. 11 d. 
 
 What is the interest on £984.10.11 from Ist March to Ist December .' 
 
 Atis. by 1st Kule. £.37.1.9. 
 
 ift^ ^'^ ^ ^'"""^ ^^ September, 1859, to 28th December, 
 
 ^na. by Ist Rule. £5.12. 
 Ans. by 2d Rule. £5.12. 
 
 A TABLE 
 Showing the Number of Days from any Day of one Month to the same Day 
 of any other Month. 
 
 
 1 
 
 
 
 
 From 
 
 \ any Day of 
 
 
 
 
 ^ 
 
 Jan. 
 
 Feb. 
 
 Mar. 
 
 306 
 
 337 
 
 Apr. 
 
 May 
 
 June 
 
 214 
 
 245 
 
 July 
 
 Aug. 
 
 Sept 
 
 Oct 
 
 Not. 
 
 Jan. 
 
 365 
 31 
 59 
 
 334 
 
 276 
 300 
 334 
 
 245 
 
 184 
 
 153 
 184 
 
 122 
 
 92 
 
 61 
 
 Feb. 
 
 365 
 
 28 
 59 
 
 276 
 
 215 
 243 
 
 153 
 
 123 
 
 92 
 
 Mar. 
 
 365 
 
 304 
 335 
 365 
 
 273 
 
 212 
 
 181 
 212 
 
 151 
 
 120 
 
 Apr. 
 
 90 
 
 31 
 
 365 
 
 304 
 
 274 
 
 243 
 
 182 
 
 151 
 
 May 
 
 120 
 
 89 
 
 61 
 
 30 
 
 334 
 
 304 
 
 273 
 
 242 
 273 
 303 
 
 212 
 
 181 
 
 Jane 
 
 151 
 181 
 212 
 
 120 
 
 92 
 
 61 
 
 31 
 
 365 
 30 
 61 
 91 
 
 335 
 
 304 
 334 
 
 243 
 
 212 
 
 July 
 
 150 
 
 181 
 
 122 
 
 91 
 122 
 
 61 
 
 365 
 
 273 
 
 242 
 
 Aug. 
 
 153 
 
 184 
 
 92 
 
 31 
 
 .365 
 
 334 
 
 30i 
 
 273 
 301 
 
 Sept 
 
 243 
 
 212 
 
 153 
 
 183 
 
 123 
 
 62 
 
 31 
 
 365 
 30 
 
 335 
 
 Get 
 
 273 
 
 242 
 
 214 
 
 153 
 
 122 
 153 
 183 
 
 92 
 
 61 
 92 
 
 365 
 
 334 
 365 
 
 Not. 
 
 304 
 
 273 
 
 245 
 
 214 
 244 
 
 184 
 214 
 
 123 
 
 61 
 91 
 
 31 
 
 I>ee. 
 
 334 
 
 303 
 
 275 
 
 153 
 
 122 
 
 61 
 
 30 
 
 Dec 
 
 The above table is very useful as a check upon errors in countino- the days 
 
 from one date to another, for any time within a year. 
 Example : How many days are there from March 4th to December 4th ' 
 Follow down the column which has March at the top, until you come to the 
 
 line which has December at the side, and there the number of days wiU be 
 
 louncl — 2io. 
 
 How many days are there from February 22 to July 28 ' 
 From February 22d to July 22d there are 150 days, to which add the 6 days 
 extra m July, and we have the whole number — 156. 
 
 (116) 
 
 INTEREST. 
 
 DISCOUNT. 
 
 Discount is the tlse of money before it is due. It is of the same nature as 
 interest, and differs from it only in this one particular : that it is the use of 
 money before the amount is due, instead of the use of it after it is due, or 
 after a given date. The term discount has other meanings, however, than 
 the literal one just given, and sometimes implies the deduction of so much 
 per cent, from the face of the bill, or the taking out of interest on a promis- 
 sory note before the interest has accrued, as is practised by the banks. This 
 is usually distinguished from true discount, by calling it " Bank Discount." 
 
 The method of computing ttank discount does not differ at all from simple 
 interest, but the method of computing true discount is quite different, and 
 consists in determining the difference between the value of a sum of money due 
 at a certain future time, and its value in hand. Thus a debt of $10G due a year 
 hence, is considered to be worth $100 to-day, when money is worth per cent, 
 per annum, for the reason that $100 put at interest to-day, at that rate, would 
 anK>unt to $106 in a year. The difference between this present and future 
 worth of a debt, amounting in this case to 6 dollars, is the measure or value 
 of the discount. In computing interest, we always know what sum is at in- 
 terest, and that sum is always increased by a certain per cent, of itself; but in 
 computing discount, we have to ascertain what sum must be at interest, which, 
 being increased by a certain per cent, of itself, shall just amount to the given 
 Bum or debt. 
 
 For example, we know that $1.00, put at interest, will amount to $1.06 in a 
 year ; therefore, to get the present value of any sum due a year hence, at 6 per 
 cent., it is only necessary to ascertain how many times $1.06 is contained in the 
 given sum, and the present value is found. If the debt be due 6 mouths hence, 
 we find how much 1 dollar will amount to in G months, and divide the given 
 sum by that amount. We proceed in the same manner to ascertain the pres- 
 ent value of any sum due at a future time, being particular to get the exact 
 amount of a dollar at the given rate, as nearly as can be ascertained, for the 
 divisor, as a variation of a few miUs in the amount sometimes makes a great 
 difference in the final result. 
 
 What is the discount on $307.58 due 1 yr. 6 mos. hence, at 6 per cent. ? 
 
 ILLUSTRATION. 
 
 367.58^1.09 = 337.23 
 Amount of the debt, $367.58 
 Present value, 337.23 
 
 Discount, $30.35 
 
 Proof: $337.23 X .09 = $30.35 interest for 1 year 6 months. 
 337.23 + 30.35 = 367.58. 
 
 What is the discount on $1500, due 6 months hence, at 10 per cent, per 
 annum ? Ans. $71.43. 
 
 Suppose I purchase a bill of goods, on G months' credit, amounting to $1500, 
 but get 5 per cent, off for immediate payment ; what do the goods cost me •• 
 
 Ans. $1425. 
 
 ILLUSTRATION. 
 
 $1500 X .05 = $75. $1500 — $75 = $1425. 
 
 It will be seen by the above example, that the difference between the true 
 discount on $1500 for 6 months at 5 per cent, for that time, and 5 per cent, 
 off, is $3.57. 
 
 (117) 
 
 r:f 
 
 :1 
 
 1 
 
BOOK-KEEPING. 
 
 INTEREST. 
 
 'U 
 
 Note. It la customary to make a deduction from the face of stich bills as 
 are sold at the credit price, when they are paid in cash at the time of sale, or 
 at any time after the sale, if within 30 days ; aud such " deduction," " per 
 cent, off," or "discoun.," is always computed as in the last example above. 
 Tliis kind of discount is always more favorable to the person paying the 
 money, than true discount is. 
 
 What is the discount on $357.75, due 1 year 3 months 17 days hence, at 5 per 
 cent, per annum ? Aiis. $21.79. 
 
 If the discount on $1060 for one year, at 6 per cent., is $G0, how much is the 
 discount on the same sum for half the time, or 6 months.' Ans. $30.87. 
 
 Althou^'h the interest on $1060, or any sum, for months, is just half as 
 much as it would be for a year, yet it will be seen by the above example, that 
 the discount cannot be ascertained for parts of a year by getting it for a whole 
 year first. 
 
 I buy a bill of goods amounting to $2500 on 6 months' credit, and can get 
 3 per cent, off by paying cash. "What should I gain by paying the bill now, 
 provided I have to hire the money, and pay 6 per cent, a year for it ? 
 
 Jnfi. $53.75. 
 
 What would be received on a note of $300 at 60 days, if discounted at a bank 
 at G per cent, a year .' Am. $296.85. 
 
 Suggestion : Compute the interest on the note for the time it has to run, 
 and three days' grace, and deduct the interest from the face of the note. 
 
 What is the bank discount on a 4 months' note of $1500, -at 7 per cent, a 
 year? Ans. .$3.i..S74. 
 
 On the 1st of January, 1860, 1 received a note for $1875.50 at VO days, and 
 had it discounted at a bank on the 15th of the same month. How muoa did I 
 
 realize upon it : 
 
 Ans. $1^5>'.81. 
 
 What should I have realized upon the same note for the same time, co nput- 
 ing by the true method of discount ? Ans. $185 1. ]3. 
 
 To determine the amount for which a note must be given, in order that it 
 shall produce a given sum when discounted at a bank, — 
 
 Get the bank discount on 1 dollar for the given time and rate. Deduct 
 this discount from a dollar, and divide the desired amount by the remainder. 
 The quotient will be the face of the note required. 
 
 I wish to obtain $1000 on a note at 60 days ; what is the face of a not« that 
 will yield that sum, if discounted at a bank at 6 per cent. I Ans. $1010.61. 
 
 ILLUSTRATION. 
 $1.00— .0105 =.9895. $1000 H- .9895 = $1010.61. 
 
 For what amount must a note bo given, having 4 months to run, that shall 
 produce $ .950, if discounted at 7 per cent. .' Ans. $1997.78. 
 
 Per cent, signifies by the hundred. In making computations in which per- 
 centage is considered, it is always understood that the rate mentioned means 
 so many hundredths of the sum upon which the percentage is reckoned. 
 Thus, 10 per cent, of 100 is 10, or ^^^ of 100 ; aO per cent, of 50 is 5, or *IX of 
 60, and so on with any number. 
 
 What is 7i per cent, of 950 ? Ans. 71^. 
 
 What is 50 per cent, of 30 .' Ans. 15. 
 
 if I buy a bill of goods amounting to $375, and sell them so that they pro- 
 dace a profit of 20 per cent, on the cost, how much must 1 get for them .' 
 
 Ans. $450. 
 
 (118) 
 
 What win an invoice of goods, amounting to $8000, sell for, provided 33J 
 per cent, profit is realized on the cost ? Ans. $10066.661. 
 
 TO ASCERTAIN THE PER CENT. OF PROFIT OR LOSS. 
 
 Make a common fraction by writing the gain or loss for a numerator, and 
 the cost of the article for a denominator. Then change it to a decimal . 
 
 What per cent, is gained in buying molasses at 20 cents a gallon, and selling 
 it for 25 cents ? 
 
 illustration. 
 Gain= 5 , . , 
 Cost =r20 ~ decimal .25. Ans. 
 
 25 per cent, profit means, that by making an outlay of 100 cents we gain L'5 
 cents. The proof of the above example is the fact that there are 5 times 20 iu 
 100, and as the gain is 5 cents on every 20 cents expended, the gain on 100 
 must be 5 times 5, or 25. 
 
 I buy cotton at 10 cents a yard, and sell it for 12^ cents ; what is the per 
 cent, of profit? A7is. 25. 
 
 What per cent, is gained by purchasing flour at $7 per barrel, and selling 
 it for $7.50. Ans. 7-f-. 
 
 What per cent, would be gdned by purchasing a lot of coffee, at auction, 
 amounting to 3800 pounds, at 5^ cents a pound, and selling it at retail at such 
 a price per pound as to produce $627 ? Avs. 200. 
 
 I send my agent $3000 to invest in wool, and am to pay him a commission 
 of 2 per cent, on the amount invested by him, that is, the sum which he pays 
 for the wool, and his commission of 2 per cent, on that sum must amount to 
 just $3000. What does his commission amount to ? Ans. $58.82. 
 
 Suggestion : If I am to pay 2 per cent, on the amount invested by him, he 
 must expend 100 cents for every 102 which he receives from me, reserving 2 
 cents of the 102 for his services. 
 
 If I buy a lot of flour for 10 per cent, less than its value, and sell it for 10 
 per cent, more than its value, what do I gain per cout. .' Ans. 22^. 
 
 Suppose it is desired to take out a policy of insurance on property valued at 
 $7500, when the premium is 2 per cent., for an amount sufficiently large to cover 
 the value of the property and the premium paid j for what sum must the pol- 
 icy be made out ? Ans. $7653.06. 
 
 Suggestion : It is clear, that if I take out a policy for 100 cents, and pay a 
 premium of 2 per cent., I am benefited, in case of loss, only 98 cents on the 
 dollar ; therefore I must take out a policy for 100 cents on every 98 cents 
 which I wish to secure. 
 
 Suppose a quantity of goods to cost $75, and a profit of $25 is required ; it ia 
 plain that the $25 must be added to the $75, and the goods are sold for $100. 
 
 Therefore, to produce a profit of 25 per cent, on the sales, one third of the 
 cost must be added to itself. 
 
 From this simple illustration we derive a universal rule, by which we can 
 determine what fractional part of the first cost of goods must be added to the 
 cost to produce a given profit per cent, on the sales. 
 
 Rule. Make the required pei; cent, the numerator, and 100 minus'thG rate 
 per cent, the denominator ; tliis fraction will express the part of the cost 
 which must be added to the cost. 
 
 To make a profit of ^^, ^^o^, ^1^, ^2^, ^^, ,^„ ,^5_^, ^1^, ^O^, ^6^, 
 
 on the sales, add ^, lo, 1|, |a, ||, |P_, |5, la, ||, |0, 
 
 or the equivalent fract's, ^, ^, ^\, \, ^, f ^\, f , ^\, j. 
 
 (119) 
 
BOOK-KEEPING. 
 
 INTEREST. 
 
 To make a profit of 10 per cent, on the cost, X of the cost must be 
 
 «nt. on tlie sales, i of the cost 
 
 added to 
 cost must be 
 
 
 % ^ 
 
 
 itself; but to make a profit of 10 per cent 
 added to itself. 
 
 A. buys a bill of {^oods for $100 with 20 per cent, off; B. buys a similar lot 
 for the same amount with .30 per cent, off; for the goods A. pays $80, and B. 
 $70. The question is, How much per cent, cheaper does B. buy his goods than 
 A.? that is, how much per cent, less is 70 than 80 ; and we must therefore 
 measure the difference by the larger sum. $10, the difference, is 4 of 80 ; it is 
 I less, which is 12^ per cent. B. therefore buys his 12^ per cent, less than A. 
 
 If, however, the question had been reversed, and placed thus — How much 
 per cent, dearer did A. pay for his goods than B. .' in that case it would be 
 by the smaller sum that the difference should be measured, and we must 
 determine how much per cent, more 80 is than 70. The difference, 10, is i 
 of 70 = 14l- per cent. ' 
 
 In this supposed transaction, therefore, B. purchases his goods 124 per 
 cent, lower than A., but A. paid 14^ per cent, hit/her than B. 
 
 In measuring the difference of 'sums or quantities, by percentage, it is 
 important to bear this distinction clearly in mind — that it makes all the dif- 
 ference whether we compare the larger with the smaller amount, or the 
 smaller with the larger amount. 
 
 Suppose A. and B. hold railroad stock ; A, paid $100 per share, and B. 
 bought the same at $50 a share. The price that A. paid was double that 
 which B. paid ; consequently 100 per cent, dearer ; the price that B. paid was 
 ^ of that which A. paid ; therefore, 50 per cent, cheaper. 
 
 PERCENTAGE APPLIED TO STOCKS. 
 
 Suppose railroad stock sells for $80 a share one month, and rises to $95 a 
 ■hare the next month ; what is the per cent, of advance iu the price .' 
 
 An*. 18f. 
 Suggestion : As 80 is to 15, so is 100 to the required per cent. 
 Suppose railroad stock sells for $95 a share one month, and falls to $80 a 
 share the next month ; what is the per cent, of depredation in its value .' 
 
 Ans. 15l|. 
 Suppose I buy Green River Railroad bonds, that pay 6 per cent, per annum, 
 for 96 cents on the dollar ; what rate per cent, do I realize on my investment .' 
 
 Ans. 6l. 
 
 Suggestion : As 96 is to 6, so is 100 to the required rate. 
 
 I buy United States 5 per cents at 95 ; what rate per cent, does my invest- 
 ment pay.' ^„5 5J5 
 
 Suggestion : As 95 is to 5, so is 100 to the required rate. ^^ 
 
 I buy 10 shares of City Gas Co.'s stock, the par value of which is $100 per 
 share, for $1250, and it pays a yearly dividend of 8 per cent. What per ccut. 
 do I realize on my investment ? Ans. 6%. 
 
 Suggestion : As 125 is to 8, so is 100 to the per cent, required. 
 
 If G per cent, bonds can be bought for .97, and Schuylkill Mining Co.'s stock 
 that pays 5 per cent, can be bought for .&3, which is the best investment ? 
 
 Ans. €t per cent, bonds. 
 
 Suggestion : Ascertain what per cent, is realized on each investment, as in 
 the previous examples, and the most profitable will then show for itself. 
 
 From which would a capitalist realize the greater income, by investing 
 in G^ per cent, stocks at 95, or in 7 per cent, stocks at 97 .' 
 
 Ans. 7 per cents by about 1 of 1 per cent. 
 
 What Income would be derived from uivcBting $12,000 in 6 per cent, stocks 
 ■*90.' jins. $800. 
 
 (120) 
 
 ^ 
 
 Suggestion : Ascertain first what per cent. $\ yields, if 90 cents yield 6. 
 Then say, As $1 is to the per ceut. which $1 yields, .^o is $!2,l)00 to the amount 
 of income. 
 
 A capitalist having ay opportunity to buy 7 per cent, city scrip, at 9>i, desires 
 to invest enough of his capital to produce him an income of $20W per annum. 
 What sum is required ? Ans. 635,000. 
 
 Sugg;-tio.i : Ascertain what per cent, the investment pays, in the first place. 
 Tlnni say. As the per cent, is to $1, so is $25(K) to the sum to be invested. 
 
 I desire to invest in stocks that pay 5 per cent, interest per annum, at such 
 a price that I shall realize 7^ per cent, on my investment. At what rate must 
 I purchase.' Ans. .977, nearly. 
 
 Suggestion : Ascertain, first, how much one share of stock will amount to 
 in one year at the giren rate of interest ; then find what sum put at interest 
 to-day at the required rate will amount to the same sum as the stock will 
 protluce. 
 
 ILLUSTRATION. 1.05 ^ 1.075 = 9707 +. Ans. 
 
 On the 14th July, 1860, A. purchases 10 bonds, each $1000, dated 2.3d June, 
 18G0, payable in 5 years from their date, with interest at 10 per cent, per 
 annum, payable semiannually from their date, (which interest he intends to 
 reinvest at the same rate, upon receipt of each payment,) and agrees to pay 
 such a price for them that his investment shall produce him at the rate of 12 
 per cent, compound interest per annum, payable semiannually. What sum 
 does he pay for the bonds at the date of the purchase .' Ans. $9156.24. 
 
 In such a case as the above, it is necessary to find what amount the bonds 
 will produce iu 5 years, computing comi)ound interest at 10 per cent, per 
 annum, payable semiannually. Tlu-u ascertain what siun put at intereit on 
 the 14th day of July, 1860, at 12 per ceut. compound interest per annum, pay- 
 able semiannually, will, in 4 years 11 months 9 days, amount to the same sum 
 as the bonds will produce in 5 years, which will be the price to be paid. 
 
 AVERAGING AND SETTLING ACCOUNTS. 
 
 It is customary with merchants to buy and sell goods on credit ; and instead 
 of paying or collecting the amount of each bill at the expiration of the terra 
 of credit to which it is entitled, monthly, quarterly, semiannual, or annual, 
 settlements are made, at which time the total amount of all the bills is paid, 
 thfreby saving an incalculable amount of time and labor. It is possible that, 
 upon the day of settlement, none of the items of an account may be due ; or 
 tliey all may have long since become due; or, what is more probable, some of 
 them are not due, while others in tlie same account are overdue ; and the pro- 
 cess by which we determine the amoqnt due on an account at a given date, or 
 the exact date upon which the balance of an account is due, or should be paid, 
 witliout loss to either party, is termed " averaging an acr'ount." 
 
 As interest is the standard by wliich business men measure the benefit they 
 derive from n^eiving payment of a debt before it is due, as well as the injury 
 they sustain from being obliged to wait for payment of a debt after it is due, 
 the priuci])le upon wliich we proceed in averaging accounts, in order that 
 neither debtor nor creditor shall suffer loss, is to charge interest on all sums 
 that are overdue, at a given time, and allow or take off interest on all sums 
 tliat are not due at a given time. Thus, if a bill of goods is sold on the 1st of 
 FehrTiary on 6 months' credit, and another is sold at the same time on 2 
 months' credit, and a settlement is made on the Ist of the following July, it is 
 evidi^nt that the first mentioned bill is entitled to a deduction of 1 month's 
 mterest, because tlie terra of credit on which the goods were purchased will 
 11 (121) 
 
 t 1 
 
 \ 
 
M 
 
 1 
 
 'I 
 
 lit 
 
 BOOK-KEEPING. 
 
 not terminate till the 1st of Au-ust, a month later than the day of settlemcMt • 
 and the second bill must be increased by the ouiount of interest it wiUerm 
 between the date on which its credit terminates and the day of settlement 
 
 Hence, it will be seen by the above illustration, thatneither of the bills can 
 m justice be paid on the l.t of July, without chan-iui,. the orij,aual amount 
 8.mply because neither of them was settled in accordance with tlie first a^^ee 
 ment But suppose, instead of paying each bill on the very day it became'due 
 or setthng them both on the 1st of July, or on any other assumed date, we de 
 sire to pay the amount of both bills at such a time that ncitlier party shall re- 
 ceive any interest : all that is necessary in such a case, is to ascertuii the date 
 upon which the interest on the sum overdue shnll be just equal to the allovv 
 ance of interest to be made on the sum not due, and the date upon which debtor 
 TuZT:''''^' ^ equally benefited by interest -that is, as much intere t 
 shall be due to one as to the other -is the one on which the balance of the 
 account must be paid. 
 
 To settle accounts in a proper manner, one of the three methods alluded to 
 above must be adopted, viz. : first, to pay each item of an account at the exact 
 
 f .^hl f"""' '' 'T,^'"'' P'^'"' '"' ^* *' '*^^^'^*" "•• ^^^-^'^ adopted, requires no 
 further notice; secondly, to fl..M//i. some dat-, and after computing interest 
 on the various items of the account to or from that date, increase or diminish 
 the balance of the account by the amount of interest to be added to or deducted 
 from It ; or, thirdly, to fix upon some .hite oi payment when the amount of 
 interest on both the debtor and cre.lit sides shall be exactly equal 
 
 However hard arithmeticians or otiiers may labor to convince the learner 
 by mtroducmg a great number of examples, varying oulv lu minor and un- 
 important details, that the difficulty of compnhcuding the subject of avera- 
 ging accounts is to be measured ouly by their >kill in making it appear difficult. 
 It IS nevertheless true that what has been s;ud above, if properlv understood 
 comprises all the directions necessary to coiuprehen.l the i)rinciples of aver- 
 aging any account. The method of applying the principles referred to, ac- 
 cording to the various conditions under which au account may be found will 
 receive especial attention Irom time to time as we proceed ; but to do the work 
 m such a manner, and j.n-sent it after it is done in such a form, as to be intelli- 
 gible without additional explauatiou other tiiau the statement itself, will require 
 practice on the part of the stude.it ; and this ability can Im3 most readily ac- 
 quired by an examination aud careful working of the examples wliich are 
 nerealter introduced. 
 
 Let us take the example on page 121, whore two bills of goods are purchased 
 on the 1st of February, but on different terms of credit. We will suppose 
 the^first one to be for SlO^o, and eutitlM to a credit of months ; the second 
 to be for S,^, and entitled to a creilit of 2 months. What sum will pay both 
 bil 8 on the l8t of July of the same year ? With the directions already "iven, 
 and without any further assistance, a novice would be very likely to cret the 
 result according to the following operation : — -^ f 
 
 On the Ist of August there will I.e due ^iqqq 
 
 But as it is paid July 1st, 1 month's interest must be deducted,* .' * 5 
 
 Leaving to be paid on the first bill, ~$995 
 
 On the 1st of April there will be due S"^, and as Ihe'amoimt is not 
 
 paid until the 1st of July, 3 months' interest must be added, 12, 812 
 
 Total due on the Ist July, "^^ 
 
 An accountant would present this example h. the following form, which 
 gives precisely the same result, is easily understood, and combines many ad- 
 vantages which do not appear in the statement just made.' 
 
 C122) 
 
 Dr. 
 
 INTEREST. 
 
 A. B. in Account tvitk C. D. Interest to 1st July, 1860. 
 
 Cr 
 
 1800. 
 Feb. 1 
 " 1 
 Julyl 
 
 Goods @ mos. 
 Goods " 2 " 
 Balance of Int. 
 
 Am'ts. 
 
 Int. 
 
 1860. 
 Julyl 
 
 " 1 
 " 1 
 
 1000|00 
 800,00 
 
 700 
 
 1 
 
 180? 1 00 
 
 5 
 
 12 
 12 
 
 00 
 00| 
 
 
 i Am'ts. ! 
 
 Int.on am't not due 
 Balance of Int. 
 Balance of Acct. 
 
 ,1807 
 
 $ ,1807 
 
 00 
 
 I 
 
 I 
 00 
 
 Int. 
 
 00 
 00 
 
 00 
 
 It is hoped that by giving attention to the following explanation of the 
 above statement, any student of ordinary capacity will be enabled to obtain a 
 clear understanding of it, and to work any other of the same kind, no matter 
 how many items it might contain. 
 
 In the first place the paper is ruled so that the debits and credits may appear 
 as they do in tiie account upon the Ledger. " A. B. in account with C D.," 
 means that A. B. is the party to whom the account is to be presented, and that 
 C. D. is the merchant from whose book the account is taken. " Interest to Ju- 
 ly 1st, IS»':0," indicates the date upon which the account is supposed to be 
 settled, and to which interest is computed. After the paper is properly ruled 
 and headed, tlie dates of the bills are placed in the date column, the term of 
 credit to which each is entitled in the next, and the amounts in the next. 
 Commencing with the first bill, we find that mouths' credit from its date 
 will extend to the 1st of August, and as it is settled on the 1st of July, of 
 course 1 month's interest is to be allowed or deducted from the face of the 
 bill. But instead of subtracting it as was done in the first illustration, (see 
 page 122,) the amount of interest is placed in the interest column, and marked 
 with a star, to indicate that it must be carried to the other side of the account, 
 in order that the $1000 shall finally be reduced by this amount. If A. B. has 
 paid his debt, or any part of it, before it is due, an allowance of interest must be 
 made to him for doing so ; and placing the amount which must be allowed him 
 on the credit side of his account, shows, without any additional explanation, 
 that his indebtedness must be reduced by that sum. The interest is placed in 
 the Dr. column instead of being carried at once to the other side, in order that 
 all such allowances (if there should be any more) may be carried over in one 
 sum, and thus save much time and space. But in adding the columns of in- 
 terest, the items that are thus checked are not to be added with those that are 
 not checked, because the checked items are not in their final proper position. 
 Such amounts of interest as are to be transferred from one side to the other 
 are sometimes written on accounts current with red ink ; but the manner of 
 distinguishing them is a matter of mere fancy. The second bill of goods haa 
 a credit of 2 months, and will consequently become due on the Ist of April ; 
 but as it is assumed that the bill is settled on the 1st of July, 3 months' 
 interest must be added to the original bill. This interest, amounting to $12, 
 is placed in the interest column opposite the bill, as in the first instance, but 
 is not checked because it is already in its proper place, and shows that it must 
 be added to the $s(X). The interest being all computed, let us next see what 
 is to be done with the different amounts. It will be plain from an examination 
 of the account as far as this explanation has been carried, that the amount of 
 the two bills (.$1800) must be increased by $12 and decreased by $5. This is 
 done in the account by simply adding the difference between the increase and 
 decrease, $7, to the $1«00, making the balance of the account $1807, precisely 
 the same as in tlie first operation. The balance of interest is also placed on 
 
 (123) 
 
 I 
 
i- 
 
 
 11 
 
 BOOK-KEEPING. 
 
 the opposite side in the interest coltimn, in order that both eolumns may show 
 the sa«ie footing. The balance of the account is placed on the opposite .ide 
 for the same reason. It will be a -reat help to the student, in all similar eases 
 in deciding to which column of prindp-.ls he must add the balance of interest! 
 to recollect that the side which earns the mo.t interest is entitled to the balance 
 The advantagres which this form of presenting an account has over the first 
 
 Tnutrj^"" ?^""'°* ' ^"* *^''" '''' °^^ «** m^"i'-^^«t .in this exami,lc as t.u-y 
 would be m a longer one, owing to the large proportion of lines oicupied by 
 the balances The ongmal amounts of the bills are preserved so tlmt they 
 can be seen at a glance, which is a great advantage. But its principal recom 
 mendafon is, that ,t needs no explanation beyond what is exhibited upon the 
 face of It. Any one who will make himself conversant with the form of the 
 account just stated, could take any other account of a similar nature, of any 
 length, and read it intelligently ; while every account stated in the crude form 
 first given would require an explanation for every line and amount 
 
 Having Illustrated the manner of settling an account according to one of the 
 methods usually adopted, let us next consider the other method, Tyhich is prop 
 er y called " averaging an account ; " that is, determining upon what date tlic 
 balance of an account may be paid without loss by interest to either party : and 
 without in roducmg any other example than the one just noticed, let us refer 
 to tliat as It now stands all completed, and we shall be able to understand the 
 manner of getting the date upon which the balance of an account aver^es 
 due with scarcely any trouble. Is it not plain, as A. B., in this example Ins 
 ly^^IZT'^' Of July more than the original amount of the b"lK^^^ 
 he did not pay as soon as he should have done, and consequently must suffer 
 
 I7 which ^o. H *"■' '^fV "' ^^"^"'^' "^ ''"'''''''' ^'^^ ^'>''t P"»^-iP«l to earn 
 !i 'n K ^^78 and a fraction J but -,'3 days is the nearest time we can 
 « %i5 r"; ^ ^°""*»°Sr backward 23 days from the 1st of Julv, w- come to 
 the Mh of June, which is the day upon which the $1.^ should Im e been paid 
 .f this IS the nght date, the interest on the an.onnt <lue before that time must 
 be just equal to the allowance to be made on the amount due after that tTe! 
 
 the Hth T.M, ' ^Tr \?'' "'.' '"' "*'■ ^^♦^^^^'•"^ry, $Km, on months, if paid on 
 the^th June, must be allowed interest for 1 month '4 days $U 
 
 The second bill, bought on the 1st February, §s.«,, on '2 months, if paid on the 
 8th June must be charged with interest 2 months 7 days, $8.93, showrnrtUat 
 
 wn M T:^ "' °'""'^'' "^"" *'^'^''' "« ^' *« P--''^l« to get, as the 7th or l^h 
 would make the variation in tfie interest still greater. The form of mTkin^ 
 out the account need not differ much from the" preceding, as^^ ^ Znlf 
 reference to the one below. o> "» >vi" oc been oy 
 
 Dr. 
 
 A. B. in Account tvith C. D, Interest to 1st July, I860. Cr. 
 
 isao. 
 
 Feb. 1 
 
 " 1 
 
 1 
 
 Goods 6 mos. 
 Goods 4 mos. 
 
 • 
 
 1000 
 800 
 
 1800 
 
 00 
 00 
 
 12 
 
 oo» 
 00 
 
 llSfiO. 
 July 1 
 « 1 
 
 Int. on Am't not due 
 Balance of Account 
 Due by av. June 8, 23 ds. 
 Var. of Interest 
 
 * 
 
 1800 
 
 00 
 
 5 
 6 
 
 00 
 
 90 
 10 
 
 
 1 
 
 
 
 
 OOJ 
 
 ■2 
 
 00 
 
 
 1800 
 
 «,| 
 
 00 
 
 a. H fh" r H " !? 1 ™'''^' '"^ *" " -'^"" *'"^^' *^='t time should be used, 
 
 a. m the form and method recommended on page isi; but, if it is desiredio 
 
 (124) 
 
 INTERIvST. 
 
 know at what time the balance of an account should be p:iid, any date may b« 
 assumed for the purpose of computing ; but it is better lo take either the ear- 
 liest or the latest date given in the example, rather than some intermediate 
 one selected at random, because the amount of labor is thus materially les- 
 sened. Let us take the example already so often referred to (and which seems 
 likely to be the means of proving the assertion heretofore made, that there is 
 no very great variety or difficulty in averaging accounts) for further illustra- 
 tion ; and taking the earUest date, viz., 1st of February, compute interest on 
 each bill from that time until its term of credit expires. 
 
 $1000 Int. for 6 months, $30.00 
 800 « 2 " 8.00 
 
 $1800 $38.00 
 
 Then ascertain how long $1800 will be gaining $38, which will be 4 months 7 
 days. This time counted forward from the Ist February, gives the 8th June, 
 
 as before. , , ^.„ ^ ^ ^ 
 
 Next take the latest date upon which either of the bills becomes due, and 
 compute interest to that date. The Ist of August is the latest date. 
 $1000.00 due 1st August, no interest, 0.00 
 
 800.00 due 1st April, interest to Ist August, 16.00 
 
 $1800.00 $16.00 
 
 Then ascertain how long $1800 will be gaining $16, which is 1 month a3 days. 
 This time counted backward from the Ist of August gives the 8th June as be- 
 
 Although one example has proved sufficient to illustrate the manner by 
 which airaccounts may be averaged, yet in order to fix the subject thoroughly 
 in the student's mind, he should carefully perform the examples which follow. 
 
 A. owes B. $1000 due March 10th, and $1000 due September 22d. What is 
 the equated time of payment ? Assume the latest date, and compute interest 
 
 to that time. ^^^^ interest for 6 months 12 days, $32.00 
 
 1000 . 
 
 $2000 $32.00 
 
 As it will take $2000 3 months 6 days to earn $32, that time, counted back 
 from Sept. 22d, would give June IGth, and that is the equated time. Or thus : 
 A. owes $1000 the 10th March, 00.00 
 A. owes $1000 the 22d Sept., 32.00 
 
 $2000 will require 3 months G days to earn $32.00, which time, counted forward 
 from 10th March, gives June IGth, as before. 
 
 The Dr. side of an account, amounting to $1000, averages due 10th July. 
 The Cr. side of the same account, amounting to $300, averages due 8th No- 
 vember. When is the balance, $700, due ? Ans. May 19th. 
 
 Suggestion : Compute interest on $1000 from 10th July to 8th November, 
 and then ascertain how long the balance of $700 will be earning that interest, 
 which time, counted backward from 8th November, gives the right date. 
 
 The Dr. side of an account, amounting to $300, averages due 10th July. The 
 Cr. side of the same account, amounting to $1000, averages due 8th November. 
 When should the balance, $700, be paid ? Ans. 29th December. 
 
 I buy goods all on the same date, but on various terms of credit ; as 
 follows : — 
 One bill of $ 375.60, on 3 months. One bill of $1000.00, on 6 months. 
 
 « " 700.00, cash. " " 500.00, on 6 months. 
 
 " " 1575.75, on 8 months. 
 
 U* (125) 
 
 u 
 
BOOK-KEEPING. 
 
 What is the average date of payment, provided the whole amount is settled 
 at one time .' Ans. 5 months 14 days. 
 
 Suggestion : Compute interest on each bill for the time it has to run ; then 
 see liow long will be required for the total amount of the bills to earn the 
 total amount of interest. 
 
 PROOF. 
 
 $ 375.60 interest 2 months 14 days, $ 4.63 
 
 1000.00 
 
 (( 
 
 700.00 
 
 (( 
 
 600.00 
 
 (( 
 
 1575.75 
 
 i( 
 
 10 
 
 <( 
 
 
 $ 2.67 
 
 14 
 
 « 
 
 19.13 
 
 
 16 
 
 (( 
 
 
 1.33 
 
 16 
 
 (( 
 
 
 19.96 
 
 $23.76 $23.96 
 
 There is some variation in the amounts of interest, but a day more or a day 
 less in the average time will make more variation ; consequently 5 months 14 
 days is the average trme, as near as can be found. 
 
 Sold goods as follows ; all on the same date, but on different terms of credit. 
 What is the average term of credit on all the bills .' 
 
 370.90 on 6 months. 
 1000.00 cash. 
 8*5.00 on 8 months 
 500.00 cash. 
 
 650.00 on 4 months. Ans. 3 months 15 days. 
 
 What is the average date of the maturity of all the following bills .' 
 $.320.00 due April 3d, 1860. 
 430.00 due June 14th, 1800. 
 0*2.00 due July 20th, 1800. 
 
 217.00 due August 30th, 1800. Ans. 25th June, 1860. 
 
 Sold goods on different dates, and on various terms of credit, as follows : — 
 January 13th, 1860, one bill on 6 months, $ 537.50 
 January 25th, 1800, one bill on 4 months, 1000.00 
 
 March 10th, 1800, one bill on 5 months, 375.75 
 
 April 18th, 1800, one bill on 8 months, 600.00 
 
 .Tune lOth, 1800, one bill on 4 months, 307.40 
 
 On what date does the whole amount of sales average due ? 
 
 Ans. 15th August, 1860. 
 Suggestion : Assume the latest date upon which either of the bills becomes 
 due, and compute interest on each bill from the time it is due up to that dat€. 
 Then ascertain how long the total amount will be earning the total amount of 
 mtercst, and count that time backward from the assumed date. 
 When does the total amount of the following bills average due ? 
 January 15th, 18(jO, bill of $400, on 2 months' credit ; February .3d, bill of 
 $600, on 2 months' crc<lit ; February 21st, bill of $800. on 6 months' credit ; 
 April 27th, bill of $200, on 6 months' credit. Ans. 15th June, 18(V). 
 
 Suggestion : Assume the Infest date upon which either of the bills becomes 
 due, and compute the interest on each bill to that date ; then find how long 
 the $2000 will be earning the total of interest, Avhich time count backward 
 from the latest date. To prove the operation, assume the earliest date upon 
 which either of the bills becomes due, and compute interest on each bill from 
 that date till it is due. Then find how long the $2(KX) will be earning the total 
 of the interest, which time count foncard from the earliest date. Then rule 
 a sheet of paper neatly for an account current, and make all the computations 
 for the same to 15th June, 1800. 
 
 (126) 
 
 >!» 
 
 INTEREST. 
 
 Dr. 
 
 A. in Account Current icifh B. to June 15th, 1860. 
 
 Gb. 
 
 1800. 
 
 Jan. 15 
 
 Feb. 3 
 
 " 21 
 
 Ap. 27 
 
 Mdse.2m. ; 4ao|OOi3| I 
 " 2" ' 000 00 2 12 
 
 I! AnVts. Ig'd Int. | 1800 
 
 « 0" ;| 800,00 
 « 0" ' 200 00 
 
 $, 200U 00 
 
 4 1 12 
 
 00 
 20 
 
 80* 
 40* 
 
 J'nel5 
 
 13|20 
 
 In.onb'snotduej 
 Balance of Acct. 2000 00 
 
 Ara'ts. 
 
 $ 
 
 2000 
 
 00 
 
 S Q, Int. 
 
 13 20 
 
 '13 
 
 iO 
 
 When can the balance of the following Ledger account be paid, without loss 
 to either party .' ^»«- ^'^^ ^^°^-' '^'' 
 
 Dr. 
 
 Thomas J. Long. 
 
 Ce. 
 
 I860. 
 
 • 
 
 
 1800. 
 
 
 
 
 Jan. 12 
 
 Mdse. 4 mos. 
 
 290 
 
 24 March 8 
 
 Cash 
 
 300 00 
 
 Mar. 10 
 
 » 5 " 
 
 476 
 
 32 May 28 
 
 Mdse. 3 mos. 
 
 500 00 
 
 1 
 
 May 25 
 
 " 3 " 
 
 312 
 
 14 June 13 
 
 Cash 
 
 450 00 
 
 June 9 
 
 " 3 " 
 
 278 
 
 50 
 
 Balance 
 
 113 
 
 20 
 20 
 
 
 $1303 
 
 ^: 
 
 $1363 
 
 Su''"-estion : Assume the latest date upon which either of the bills becomes 
 due, and compute interest on each item to that date. It will be found that the 
 smaller side will earn the most interest up to that time. This clearly shows 
 that the lar^-er side not having had time enough to earn as much mterest as 
 the smaller side, the assumed date is too early. Consequently the time to 
 whioli the balance is entitled must be reckoned foncard from the assumed 
 date. To prove that the 17th November, 1801, is the right date, make out an 
 account current, computing interest to that time, as follows : — 
 
 Thomas J. Long in Account Current loith James Merchant. 
 j)R, Interest to llfh November, 1801. ' Cr. 
 
 1800. I 
 Jan. 12 Mdse. 4 mo. 
 Mar.io] " 5 " 
 May 25! " 3 " 
 June 9' " 3 " 
 Diff. of Int. 
 
 Int. ; 1860. 
 
 20 9l|Mar. SiCash 
 
 35 80 May 28j Mdse. 3 mo. 
 
 23 05 Junel3i Cash 
 
 19 87NOV.17 
 
 !04i 
 
 105 071 
 
 Bal.ofAcct. 
 
 I 
 
 Am'ts. I S I Q 
 300J00 20! 9; 
 500|00 
 450 00 
 113 20 
 
 $ 1.363 20 
 
 14 20 
 
 17 
 
 Int. 
 
 30 
 36 
 38 
 
 45 
 67 
 55 
 
 105,67 
 
 N0«. It is advisable in all caseo. after havinp; obtained a date for the pnytneTit of the balance of an aoconnl. thai 
 •ome method of proof shouM l>c adopted in order to puard apainst errors, which are liable to occur, especially with 
 tboae who, from their want of busine?. experience, do not realize the importance of making theit ooaputttioui witJl 
 my more accuracy tluui the usual course of arithmetical study in icbool demamls. 
 
 (127) 
 
 r 
 
BOOK-KEEPING. 
 
 INTEREST. 
 
 I- 
 
 II 
 
 
 3> 
 
 Q I S 
 
 AS_R_h__h 8 g 
 
 "f CJ Tl< •-> « 
 
 I g 
 
 o ao ^. M ® 3»" 
 
 g* -H -^ « ^ -" 
 
 
 « « »-< CM W 
 
 «i4 
 
 05 
 
 S o 
 
 II 
 
 
 i 
 
 s 
 
 8 
 
 *C M "ti •.»< {s. Oi 
 
 4 ^. ^ '^ " 4 
 
 _S_S__8_8 3 8 ^ 
 
 a 
 o 
 
 3 
 
 o 
 
 
 o 
 
 Id 
 
 OS 
 
 8 ^ 
 
 s 
 
 «Q 
 
 
 '-'nn-f-^^^^ 
 
 « 
 
 a 
 
 Q 
 
 O In 
 
 
 g 
 
 S 
 
 o o 
 
 
 $ 
 
 
 
 <a 
 
 ea 
 
 O 
 
 CO 
 
 ? § 
 
 tt S 
 
 5 5 « o o d d d . • 
 
 'O'S'O'O'O'O'C'a 
 
 3} 
 
 a> 
 
 s 5 
 2 i 
 
 
 O IS. « 
 
 s 
 
 00 
 
 
 CO O O 
 
 « ^ ec 
 
 (128) 
 
 »- s 
 
 O- 3 
 
 ^ f 
 
 O O 
 
 « o 
 
 ■5 o 
 
 ^^ 
 
 ^^ 
 
 T3 +^ 
 
 to zS 
 —^ ,0 
 
 -a j^ 
 
 IB n 
 
 u 
 
 3 
 
 ^ 
 
 o 
 
 3 
 ♦J 
 w 
 
 o 
 
 o 
 CO 
 
 a 
 3 
 
 I sell goods as I0II0W8, all on the let October, 18G0 : — 
 
 $200 on 2 months' credit, 
 300 on 4 " " 
 
 400 on " " 
 
 100 on 8 " " 
 
 When does the total amount of the bills average due ? 
 
 Ans. 25th February, 1861. 
 What is the date of a 5 months' note that should be given in settlement > 
 
 Ans. 22d September, \HGO. 
 Suggestion : Compute interest on each bill from the 1st October, IbCu, for the 
 time it has to run, then reckon foricard from the 1st Oi tober,the time required 
 for the $1000 to earn the total amount of interest, which will give the average 
 
 date. 
 
 As goods are not entitled to days of grace after the bills become due, as notes 
 arc, it is necessary, in giving a note in settlement of an account, to date it so 
 that it will fall due three days sooner than the account averages due, so that the 
 last day of grace shall fall on the same day that the account should have been 
 paid in cash, provided no note had been given. 
 
 Dr. 
 
 James D. Carter & Son. 
 
 Cr. 
 
 1860. 
 
 
 
 
 1860. 
 
 
 
 Mar. 22 
 
 Goods on 6 mos. 
 
 $327 
 
 69 
 
 April 2 
 
 Cash 
 
 50 00 
 
 1 
 
 «♦ 31 
 
 Goods on 6 mos. 
 
 35 
 
 50 
 
 May 11 
 
 Cash 
 
 150 00 
 
 April 2 
 
 Goods on 6 mos. 
 
 217 
 
 G2 
 
 June 4 
 
 Cash 
 
 100^00 
 
 " 3 
 
 Goods on 6 mos. 
 
 50 
 
 10 
 
 July 16 
 
 Cash 
 
 60 00 
 
 " 7 
 
 Goods on G mos. 
 
 56 
 
 25 
 
 « 18 
 
 Cash 
 
 150 
 
 00 
 
 •' 24 
 
 Goods on 6 mos. 
 
 31 
 
 25 
 
 Oct'r 8 
 
 Cash 
 
 234 
 
 26 
 
 May 11 
 
 Goods on 6 mos. 
 
 74 
 
 00 
 
 Nov'r 1 
 
 Cash 
 
 100 
 
 00 
 
 " 10 
 
 Goods on C mos. 
 
 164 
 
 35 
 
 " 23 
 
 Goods on 6 moB. 
 
 17 
 
 00 
 
 June 5 
 
 Goods on G mos. 
 
 189 
 
 81 
 
 Dec'r 8 
 
 Cash 
 
 100 
 
 00 
 
 «' 10 
 
 Goods on G mos. 
 
 10 
 
 25 
 
 
 Balance 
 
 227 
 
 43 
 
 « 19 
 
 Groods on 6 mos. 
 
 21 
 
 87 
 69 
 
 
 ^ 
 
 
 
 
 $ 1178 
 
 
 
 $ 1178 
 
 69 
 
 When is the balance of the above account payable i 
 
 Ans. 14th July, 1861. 
 
 Suggestion : Assume the latest date upon which either of the sums in the 
 account becomes due, and compute interest on each amount from the time its 
 credit expires until that date. Then ascertain how long a time will be re- 
 quired for the balance of the account to earn the balance of interest, which 
 time must be counted forward from the assumed time, to give the right 
 date. 
 
 (129) 
 
BOOK-KEEPING. 
 
 INTEREST. 
 
 )l 
 
 fil 
 
 i ' 
 
 i 
 
 !?> 
 
 James D. Carter & Son in Account Current with Henry Lane, 
 DR- ' to Hth January, 1801. Cr. 
 
 1800. 
 
 
 Am'to. sIq Int. 
 
 1860. 1 
 Apr. 2 Cash 
 
 Am'ts. S 
 
 a lint 
 
 Mar.2J 
 
 Mdse. mos. 
 
 327 
 
 09 3 
 
 23 
 
 6 
 
 17 
 
 1 50^00 9 
 
 12 
 
 2J.35 
 
 « 3: 
 
 Mdse. 6 mos. 
 
 35 
 
 50 
 
 3 
 
 15 
 
 
 62iMayllCash 
 
 ' 15000 
 
 1 
 
 8 
 
 3 
 
 608 
 
 Apr. 2 
 
 Mdse. Omos. 
 
 217 
 
 62 3 
 
 12 
 
 3 
 
 70 June 4 Cash 
 
 loo'oo 
 
 7 
 
 10 
 
 367 
 
 " 3 
 
 Mdse. Omos. 
 
 50 
 
 10 3 
 
 11 
 
 
 M July 10 Cash 
 
 50 00 
 
 5 
 
 29! 1,49 
 
 « 7 
 
 Mdse. Omos. 
 
 56 
 
 25 3 
 
 7 
 
 
 9i: 
 
 " 18 Cash 
 
 150'00; 5 
 
 27, 
 
 4'43 
 
 " 24Mdsc.6mo8. 
 
 31 
 
 252 
 
 21 
 
 
 42 Oct. 8 Cash 
 
 2.34 2(5 
 
 3 
 
 6 
 
 3^75 
 
 May 11 Mdse. Omos. 
 
 74:00| 2 
 
 3 
 
 
 78 Nov. ICash 
 
 loo'oo 
 
 2 
 
 ^3, 
 
 1 
 
 22 
 
 " 10 Mdse. Omos. 
 
 Iw'.iS; 1 
 
 29 
 
 1 
 
 02 " a3 Goods Omos. 
 
 17 00 
 
 4 
 
 9 
 
 
 37» 
 
 June 5 Mdse. raos. 
 
 189 81 
 
 1 
 
 9 
 
 1 
 
 23 Dec. 8 Cash 
 
 100 00 
 
 1 
 
 6 
 
 
 60 
 
 " lOMdse. 6moB. 
 
 10 
 
 25 
 
 1 
 
 4 
 
 
 06 1861. 
 
 
 
 
 
 
 
 " 19! Mdse. Omos. 
 
 21 
 
 87 
 
 
 26 
 
 
 09 Jan. 14 Bal. of Int. 
 
 6|78 
 
 
 
 
 
 Int. from Cr. 
 
 
 
 
 
 
 37 
 
 " " Bal. ofAcct. 
 
 22065 
 
 
 
 
 
 
 Bal. of Int. 
 
 
 
 
 
 6 
 
 78 
 
 
 ^^ 
 
 
 
 
 
 
 
 
 • 
 
 1178 69 
 
 
 ,;^ 
 
 59 
 
 
 % 
 
 1178 69 
 
 
 
 23 59 
 
 The balance due on tlic above account, Hth January, 1801, is shown to be 
 $?20.65. This sum, with interest for months, amounts to $227.27. By the 
 previous operation it was found tliat tlie balance of the account was payable 
 on the Hth July, 1801. Thus it will be seen, that one operation is suffi- 
 cient proof of the correctness of the other. 
 
 Feb. 12th, 18—, sold two bills of goods, one of $750, on 4 months' credit ; one 
 of $750, on months' credit, and to save the necessity of inquiring into the 
 responsibility of the purchaser, received in payment three notes, as follows : 
 One note dated February 1st, at months, for 500, 
 " " " November 2()th, at 5 montlis, for 3(»0, 
 " " " November 0th, at 4 mouths, for 250, 
 and cash for the balance. How much cash must I receive in order to settle 
 the account at the date of the sales .' Ans. $432.29. 
 
 See entry in D. B. page (0.) 
 
 Suggestion : Assume the latest date upon which either of the amounts 
 becomes due, and compute interest on each sum to that date. Increase each 
 side of the account by the amount of interest it has earned, and get the bal- 
 ance. Then ascertain what sum put at interest on the 12th of February, will 
 amount to the balance at the assumed date. 
 The accuracy of the result is proved by the following account current : — 
 
 M. LovERiNG in Account toith George N. Comer. 
 DR' Interest to \2th August, 18— 
 
 Or. 
 
 1*- 
 
 Mse. 4 m. 
 Mse. m. 
 Bal.of In.! 
 
 / 
 
 Ara'ts. 
 
 Due. 
 
 Jel2 
 Aul2 
 
 S 
 
 q" 
 
 ! lot 
 
 ll8- 
 
 Cash 
 Note 6 m. 
 
 " 5ra. 
 
 " 4 m. 
 
 Am'ts. 
 
 D«e. 
 
 Fyl2 
 Au4 
 Ap29 
 Mh9 
 
 s 
 
 6 
 
 3 
 5 
 
 d' 
 
 8 
 
 14 
 
 3 
 
 1 
 
 Int. 
 
 Fyl2 
 
 "12 
 
 Aul2 
 
 750 
 750 
 
 00 
 00 
 
 00 
 
 
 
 7 
 
 i 
 17 
 
 50 
 71 
 
 Fyl2 
 " 1 
 
 Nr26 
 «♦ 6 
 
 432 29 
 
 500 00 
 300 00 
 
 250 00 
 
 1 
 
 12 
 5 
 
 97 
 67 
 20 
 37 
 
 1 
 1 
 
 $ 
 
 1500 
 
 
 
 • 
 
 25 
 
 21 
 
 $ 
 
 1500 00 
 
 1 1 
 
 ! 
 
 I 
 
 25 
 
 21 
 
 (130) 
 
 On the 15th November, 1800, — 
 
 The Cr. side of an account is $807184.61. 
 
 The Dr. side of the same account is 382898.33. 
 A f th«t time the balance of interest in favor of the Dr. side was $7495.72. It 
 ^ proposeT^^^^^^ notes in settlement of the balance of the account,- 
 
 One at 4 months for $150,000 
 One at 5 months for 100.000 
 One at 6 months for 174.280.28 
 When should each of the notes be dated, in order that upon payment of them 
 all, the balance of the account shall be cancelb^d . ^ ^^^^^^^ ^^^^^ ^^^ ^^^^ 
 
 5 months' note, Sept. 28th. 
 
 6 months' note, Aug. 28th. 
 
 » «,♦„;« wV.1t fimp is reauired for the balance of the account 
 Suggestion :Asocrta^^^^^^^^ 'tZ' counted forward from Novex^ber 
 
 to earn the balance ot inteie. i, wiui.u 
 
 T^rr^t^ttfZ t pits, t:' aL-'aate „ rVtS, «. account 
 li'payat! K't.ty'arroo'T pam'at that ,ta., of course they draw iute«st 
 afterwards. 
 When is the balance of the following account due f Ans. Ist Oct., 1861. 
 
 Dr. 
 
 1800. 
 Jan'y 
 Feb'y 2 
 Apr. 13 
 Aug. 29 
 
 Ladd & Hudson. 
 
 Cr. 
 
 Merchandise 
 
 do. 
 
 do. 
 
 do. 
 Balance 
 
 853 
 
 827 
 
 :«8 
 
 057 
 458 
 
 3134 
 
 40 
 30 
 55 
 14 
 
 08 
 
 48 
 
 1S;>9. 
 
 iDec. 22 
 
 I 1800. 
 
 Jan'y 29 
 
 3Iay 7 
 
 Sept. 30 
 
 Merchandise 
 
 do. 
 do. 
 do. 
 
 296 
 
 74 
 
 346138 
 
 $ 
 
 1174 
 1310 
 
 3134 
 
 46 
 90 
 
 48 
 
 The student is requested to perform the above example by the following 
 method, wliich, although it involves no new principle, yet in some cases -is 
 Try coivenicnl because by having an extra column in the I-lgcr accoun 
 for the amounts of interest, the computations can b^niade, and the ammxn^^ 
 placed on the Ledger as fast as the charges arc posted, thus enablmg the book- 
 keeper to have his accounts ready for settlement with comparatively little 
 delay. Another advantage which this method possesses, is the great lacimy 
 with which the time for computing the interest is ascertained. 
 
 Assume the last day of the month next preceding the earliest .<^«^e in;»^ 
 account, and compute interest on each amount to the day on V;hich i s term 
 of credit terminates, or to its date, if it has no credit. Then find how long 
 the balance of the account will be earning the balance of interest, ^^hich time 
 counted foj-nmrd from tlic assumed time, if the largest side has earned the 
 most interest, and bacJcoard from the assumed time if the smallest side 
 has earned the most interest, will give the date for the payment of the baLmce 
 The reason for assuming the date as recommended above, is to enable us to 
 fix the time more readily for which the interest is to be computed. According 
 
 (131) 
 
BOOK-KEEPING. 
 
 INTEREST. 
 
 If 
 
 day of No'v'^'mU^I^ *^' "''"''"''^ *""' '"^ ^^' "''""'P^" ^^°^ ^'' '^« 1^«* 
 
 Dr. 
 
 LADD & HUDSOX. 
 
 Cr. 
 
 1860. 
 
 Merchandise 
 
 do. 
 
 do. 
 
 do. 
 Balance 
 Balance of Int. 
 
 Am'ta. : 
 
 Intereat. 
 
 ' 1859. 
 
 Merchandise 
 
 do. 
 do. 
 do. 
 
 Am'ts. r Interest. 
 
 Jan. 6 
 Feb. 2 
 Apr. 13 
 Aug.29 
 Oct. 1 
 
 853 40 
 
 82730 
 a38;56| 
 657jl4 
 
 458 08' 
 
 1 
 3i34|48| 
 
 5 
 
 8 
 
 7 
 
 29 
 
 60 
 $101 
 
 12 Dec. 22 
 
 55 1800. 
 50 Jan. 29 
 40 'May 7 
 Sep. 30 
 
 290 
 
 340 
 1174 
 1316 
 
 3134 
 
 74 
 
 38 
 46 
 90 
 
 48,' 
 1 
 
 1 
 
 1 
 
 3 
 30 
 65 
 
 $101 
 
 09 
 
 41 
 
 73 
 
 85 
 
 
 08 
 
 
 
 08 
 
 i^^.''?, " " '- ^r"" ^^"^ ^^'^''-'^J^ °^ November, 1859, to the 22d of December, 
 18.yj, there are L>2 days, and the interest for that time on the first item entered 
 ou the account is $1.09. The interest on the next item entered, from the same 
 date IS .$;..12, and so on throu-hoiit the whole of the account. The balance 
 of the mterest is found to be $50.45, and as the balance of the account will 
 require 22 months 1 day to earn the balance of interest, we count that time 
 forward from the assumed date, which brin-s us to the Ist October, 1801. the 
 day upon which the balance is to be paid. 
 
 Prove the 1st October, 1801, to be the right date by making out an account 
 current with Ladd & Hudson up to that time. "ccouni 
 
 Dr. 
 
 Ladd & Hudson in Account Current rtith Wm. Joxes. 
 Interest to Ut Octobery 1801. 
 
 Cr. 
 
 1860. 
 
 Jan. OMerchdae. 
 
 Feb. 2 do. 
 
 Ap. 13 do. 
 
 Au.29 do. 
 Balance 
 Var. of Int. 
 
 Am'ts. 
 
 Time. 
 20|25 
 
 853 40 
 
 827 30 
 
 19 
 
 29 
 
 338 56 
 
 17 
 
 18 
 
 657 14 
 
 13 
 
 2 
 
 458 
 
 08 
 
 
 
 3134 
 
 48 
 
 ~" 
 
 $: 
 
 Int 
 
 88 90 
 
 82 59 
 
 29 79 Jan 29 
 
 42 93 
 
 021 
 244 23^ 
 
 1859. 
 D'r22!Merchd8e. 
 
 1860. 
 
 do. 
 3Iay 7 do. 
 Sep 30 do. 
 
 Am'ts. Time.' Int. 
 
 296 
 
 346 
 1174 
 1310 
 
 $;3134 
 
 74 21 1 9 
 
 38 20 
 
 40 
 90 
 
 48 
 
 2 
 
 24 
 
 I 
 
 1: 
 
 31 
 
 34 
 98 
 79 
 
 $1244 
 
 00 
 
 75 
 65 
 23 
 
 23 
 
 (132) 
 
 ' 
 
 When is the balance of the following account payabk^^ ^^^^^ ^^^^^ ^,^^^ 
 
 Cr. 
 
 Dr. 
 
 Ricii^VRD D. Howe. 
 
 1800. 
 Jan. 19 
 Feb. 7 
 Mar. 9 
 Apr. 24 
 3ray IG 
 July 5 
 Au. 24 
 Oct. 9 
 Nov.24 
 Dec. 20 
 
 Mdse. 6 m. 
 
 do. 4 m. 
 
 do. 3 m. 
 
 do. 3 m. 
 Cash 
 Mdse. 4 m. 
 
 do. 3 m. 
 
 do. 2 ra, 
 Cash 
 Mdse. 2 m 
 
 Am'ts. 
 
 597 
 389 
 
 809 
 078 
 379 
 083 
 527 
 698 
 200 
 705 
 
 5791 
 
 03 
 51 
 
 82 
 70 
 84 
 91 
 35 
 54 
 00 
 93 
 
 29 
 
 Time.: I Int. 
 
 19 
 
 71 
 
 9j 
 
 24! 
 
 lei 
 
 5 
 241 
 
 9! 
 24' 
 20 
 
 19 
 10 
 23 
 23 
 8 
 34 
 28 
 39 
 10 
 52 
 
 $,;250 
 
 82 
 19 
 05 
 08 
 01 
 77 
 48 
 47 
 80 
 34 
 
 01 
 
 1860. 
 Mar. 9 
 Apr. 2 
 June 
 " 23 
 Au. 19 j 
 Sep. 22 
 Nov.17 
 Dec. 28 
 
 Dec. 31 
 
 Am'ts. 
 
 Cash 
 
 Mdse. 3 m. 
 Cash 
 Cash 
 
 Mdse. 2 m. 
 Cash j 
 
 Mdse. 2 m. 
 Cash j 
 
 Bal.of Ac. 
 Bal.oflntJ 
 
 000,00 
 470 93 
 700|00 
 804174 
 900i00 
 :i50|00 
 793] 50 
 315 00 
 
 Time. Int. 
 
 791 
 
 $^5791 29 
 
 12 
 
 o! 
 
 23 
 
 19 
 22 
 
 17 
 
 28 
 
 6 
 14 
 18 
 24 
 43 
 15 
 49 
 18 
 
 58 
 
 90 
 47 
 20 
 93 
 35 
 28 
 86 
 80 
 
 82 
 
 $ '250 01 
 
 Su-crestion : Compute interest from the 31st,December, 1859, on eachitem of 
 the a^ccount, to its date, or until its term of credit expires, if it is entitled to 
 credit ; and then ascertain how long the balance of the account will be earning 
 the balance of interest, which time counted fortoard from the 3 Ist December, 
 if the lar*-est side earns the most interest to that time, or backward from the 
 31st December, if the smallest side earns the most interest to that time, will 
 ffive the right date for the payment of the balance. ^. ^^ ^, , , 
 
 Instead of making out au account current to the date upon which the balance 
 is payable, as we have previously done to prove the work, we will make it up to 
 the 1st of January, 1801, dating the balance of the account ($791.12) on the day 
 that it should be paid in cash, and treat it the same as we do any other item m 
 the account current. If the interest on each side amounts to the same or nearly 
 the same sum, it is proof that the answer to the preceding example is correct. 
 
 Dr. Rich'd D. Howe in Ace. with James Ross. Int. to 1st Jaw.,1861. Cr. 
 
 1860. 
 Jan. 19 
 Feb. 7 
 Mar. 9 
 Apr.24 
 May 10 
 July 5 
 Au. 24 
 Oct. 9 
 Nov.24 
 Dec. 20 
 
 Mdse. 6 m 
 
 do. 4 m 
 
 do. 
 
 do. 
 Cash 
 Mdse 
 
 do. 
 
 do. 
 Cash 
 
 Mdse. 2 m 
 Int. fm. Cr 
 
 Am'ts. g 
 
 3 m. 
 
 3 m. 
 
 4 m. 
 3m.| 
 2m 
 
 ^ 
 
 597 
 389 
 869 
 678 
 379 
 
 Gm 
 
 527 
 098 
 200 
 765 
 
 63 
 51 
 
 82 
 /6 
 84' 
 91 
 35 
 54 
 00 
 93 
 
 5791 
 
 29 
 
 13 
 25 
 
 1 
 
 lo! 
 
 27 
 8 
 
 23 
 8 
 
 19 
 
 Int. 
 
 16 
 
 13 
 
 29 
 
 17 
 
 14 
 
 6 
 
 3 
 
 2 
 
 1 
 
 e 
 
 13 
 
 24 
 31 
 43 
 
 87! 
 31! 
 50 
 341 
 68 
 27 
 a5» 
 
 33 
 
 1860. 
 Mar. 9 
 Apr. 2 
 June 6 
 « 23 
 Au. 19 
 Sep. 22 
 Nov.17 
 Dec. 28 
 1861. 
 Mar.26 
 
 I 
 
 $;jll8 28! 
 
 Cash 
 
 Mdse. 3 m 
 Cash 
 Cash 
 
 Mdse. 2 m. 
 Cash 
 
 Mdse. 2 m 
 Cash 
 
 Ba. in Cash 
 Int.fm.Dr. 
 Var. of Int. 
 
 Am'ts. 
 
 600 
 476 
 700 
 864 
 900 
 350 
 793 
 315 
 
 791 12 
 
 00 
 93 
 00 
 74 
 00 
 00 
 50 
 00 
 
 5791 
 
 29 
 
 23 
 
 26 
 9 
 13 
 10 
 16 
 4 
 
 25 
 
 $ 
 
 Int. 
 
 29 
 14 
 24 
 27 
 10 
 5 
 
 30 
 31 
 03 
 24 
 95 
 S3 
 
 12« 
 21 
 
 21* 
 26 
 15 
 
 118,28 
 
 By making up the above account to the 26th March, instead of the 
 January, the variation of interest will be 11 cents. 
 12 (133) 
 
 Ist of 
 
n: 
 
 i\^ 
 
 BOOK-KEEPING. 
 
 Middlesex Cotton Mills in Account with Briggs & Co. 
 Interest to lath November, 18—. 
 
 Dr. Cr. Dr. 
 
 INTEREST. 
 
 18— 
 
 Cash paid Treasurer 
 
 Amount*. 
 
 1 Amounts. 
 
 M. 
 
 1 
 
 D. 
 
 Inter'st. Inter'st. 
 
 Oct'r 4 
 
 soooo'oo 
 
 
 
 11 
 
 205 
 
 ioo 
 
 
 
 « 13 
 
 do. do. do. 
 
 25000 OOi' 
 
 I 1 
 
 
 1 
 
 2 
 
 133 .33 
 
 
 
 " 18 
 
 do. do. do. 
 
 10600 00 
 
 
 
 
 28 
 
 49 
 
 00 
 
 
 
 Nov. 5 
 
 do. do. do. 
 
 4000 00 
 
 
 
 
 10 
 
 1 
 
 i fi 
 
 67 
 
 
 
 " 10 
 
 do. do. do. 
 
 10000 00 
 
 
 
 
 5 
 
 1 
 
 ' 8 
 
 33 
 
 
 
 June 30 
 
 Sales Cottons Ist Jan. 
 
 
 
 155896 
 
 28 
 
 1 
 
 17 
 
 1221 
 
 19 
 
 
 
 July 31 
 
 do. do. 30th Nov. 
 
 
 
 62638 
 
 76 
 
 
 15 
 
 ! 156 
 
 60' 
 
 
 
 Sept. 29 
 
 do. do. 12th Feb. 
 
 
 
 ' 53715 
 
 55 
 
 2 
 
 28 
 
 787 
 
 a3 
 
 
 
 Oct'r 31 
 
 do. do. Cash 
 
 
 
 i 6000 |00 
 
 
 15 
 
 
 
 15 
 
 00 
 
 Nov. 14 
 
 do. do. do. 
 
 
 
 21908 62 
 
 
 1 
 
 
 
 3 66 
 
 » 15 
 
 do. do. do. 
 
 
 
 8i"53 36 
 
 
 
 
 
 
 
 t( {( 
 
 Balance of Interest 
 
 2549 
 
 29 
 
 
 
 
 
 
 
 2549 29 
 
 « (( 
 
 Balance of Account 
 
 • 
 
 1 
 
 226923 
 
 28 
 57 
 
 i 
 
 57 
 
 
 « 
 
 2567 
 
 95 
 
 2567 
 
 1 
 
 
 
 308972 
 
 308972 
 
 95 
 
 The above account current differs in form from those previously given, and 
 m some respects, possesses advanta-es over the others. The student can adopt 
 either form m practice, which best suits his own convenience. 
 
 Sales of Cotton for Account o/ Messrs. Gray & Son, New Orleans. 
 
 18— 
 
 May 15. Baker & Co., 10 Bales, Nos. 174 to 1^3. 6 months. 
 
 ")5C174 360 95^176 382 ^178 390 y^^lSO 300 95)1182 420 
 175 375 177 400 179 385 181 390 183 498 
 
 
 .35 -j- 782 + 775 + 786 + 918=3996 lbs.® 8^0. $: 
 
 339 
 
 66 
 
 18- 
 
 Charges. 
 
 
 
 
 May 1 
 
 Freight and Drayage • 
 
 20 
 
 1 
 00 
 
 
 «' 1 
 
 Advertising 
 
 6 
 
 oo' 
 
 
 
 « 15 
 
 Commission, 5^ 
 
 16 
 
 98' 
 
 
 
 " 15 
 
 Guaranty, 2^^ 
 
 8 
 
 49! 
 
 51 
 
 47 
 
 
 Net Sales due, by average, 18th December 
 
 
 
 288 
 
 19 
 
 N OTE. Accounts of sales are averaged in the same manner as other accounts 
 Commission and guaranty on sales of goods are considered by custom to be 
 due at the date of the sale, whether the goods are sold on credit or not. This 
 fact must be regarded whenever the average date of commission or guaranty 
 18 to be ascertained. 
 
 (134) 
 
 
BOOK-KEEPING. 
 Havana. 
 
 COMPUTATIONS IN EXCHANGE. 
 
 18- 1 i^i^'f^ffiip^ii^drysis 
 
 Jan. ai Sampson & Co. ^ 
 
 Mar. 1 ' ' 
 
 May 3 
 " 15 
 
 I,! 
 
 1*- 
 
 Jan. 1 
 
 « 10 
 .« 17 
 
 « 21 
 
 May 15 
 
 J. Uawes&Son 
 Rand & Fuller 
 Kdw. F. Gage N 
 
 t 300.00 
 
 172.3.32 
 
 500.00 
 
 1004.80 
 
 Freight and Duties 
 Wharfage 
 Insurance 
 Advertising 
 
 2fith March 
 
 r"th March 
 
 
 Commission 5^ on $3618.12 due, by 
 
 Guaranty 2i^ on $2613.32 due, by 
 
 Not Sales due, by average, 25th August 
 
 I 
 
 (136> 
 
 
 COMPUTATIONS IN EXCHANGE. 
 
 (See Article Bills of Exchange.) 
 
 A bill of exchange drawn in Boston upon New Orleans will command a 
 premium whenever there is a scarcity of New Orleans funds iu IJoston, or 
 wlienever the general state of indebtedness is in favor of New Orleans ; and 
 it will be at a discount when bills on New Orleans are so plentiful in Boston 
 as to exceed the demand. This variation in the price of bills, caused chiefly 
 by their scarcity or abundance, is called the Course of Exchange, and is com- 
 puted at so much per cent. If it be at a premium, the purchaser has to pay 
 more for his draft than the face of it ; if at a discount, he pays less than the 
 
 face of it. 
 
 There is but one way of computing the cost of a bill or draft for a given 
 sum when it is at a premium, which is to add to the face of the bill as many 
 hundredths of itself as the rate indicates. Thus a bUl for $1500, at a premium 
 of 1 per cent., would cost the purchaser $1515. 
 
 There are two ways of computing the cost of a bill for a given sum when ex- 
 chan're is at a discount, viz. : to deduct from the face of the bill as many 
 
 HUNOREOTHS OF ITSELF AS THE RATE INDICATES, which iS the CUStom With 
 
 bankers and dealers in exchange, when the bill is only for a small sum ; and 
 the other is to divide the face of the bill by loO increased by the 
 KATE PER CENT. OF DISCOUNT, wliicli is tho strictly accurate method. Thus, 
 if I apply to a banker for a bill of exchange to pay a debt which I owe in New 
 York of $500, wlien exchange is at a discount of 2 per cent., he will deduct 
 from the draft 2 per cent, of the face of it, and for $4<K), which I pay him, he 
 will give me a draft for $500 ; whereas I ought to pay him such a sum as 
 would amount to $500 if increased by 2 per cent, of itself The difi-ercnce in 
 this case between the banker's discount and the true discount would amount 
 to 20 cents, which dilTerence would be in my favor. 
 
 Again, if I carry $om to a banker, and desire him to give me a draft on New- 
 York for as large a sum as he can for the money I pay him, and exchange on 
 New York is at a dihicount of 2 per cent., he will add 2 per cent, of the sum 
 to itself, and give mo a draft for $510 ; whereas he should give me a draft for 
 such a sum as would yield just $500, if decreased by 2 per cent, of itself. In 
 the latter case I pay $5(K>, and receive a draft for $510 ; but I should m justice 
 receive a draft for $510.20. The dillerence between the true discount and 
 the BANKER'S discount, in this instance, is 20 cents in the banker's favor. 
 
 I have referred to tlie two modes of computing discount upon drafts, for the 
 purpose of directing the student's especial notice to the distinction between 
 the true and the nominal discount. Tlie results iu the examples wliich fol- 
 low are obtained by computing ac(;ordiug to the most accurate method, as 
 the other plan is adopted only when the sums are so trifling as to preclude 
 the necessity of being exact. 
 
 What is the value of a draft on Springfield for $1750, at a premium of ^ of 1 
 per cent. ? ^"*- $l'54..iri. 
 
 Bou^'ht a bill on Philadelphia for $3000 at l4 per cent, discount. ^^ hat did I 
 pay for it.' A7is. $2^Joo.67. 
 
 12* (137) 
 
BOOK-KEEPING. 
 
 COMPUTATIONS IN EXCHANGE. 
 
 h 
 
 Ik * 
 
 m 
 
 1 
 
 I wish to pay a debt duo in N.nv York of Sjooo. What will a bill coBt me 
 cent ' *™*'""*' Pfo^'flt^d exchange ou New York is at a discount of 2 per 
 
 T ,"■ „ . . ,, Ans. S 1900.78. 
 
 ill^^^^^^yposHcsBion the net proceeds of a sale of cotton amountin- to 
 fl.fi.>, which my correspondent desires me to remit to him in New Orleans • 
 exchange on New Orleans is at a discount of 2^ per cent., and I invest the 
 
 rr ' u 1 , , , , ^"*- $3801.54. 
 
 How murh should I have to pay for a draft for $3705, exchange beinjr at a 
 preramra of l4 per cent. ? ^ „^ "^.y^,^ jT,!" * 
 
 1 srli a (K) days' bill on Cincinnati for $.1750.08, at a discount of 3 per wnt 
 anl mtcrest off. What does the draft produce me at that rate? 
 
 An^ $300** OT 
 
 A St. Louis merchant wishes to pay a debt of $575 due in Boston, and ex- 
 change on Boston is at 4f per cent, premium in St. Louis. What would a 
 dralt for tliat amount cost the merchant, at the above rate? Ans $(J0'' 31 
 
 Owing a debt of $37^.5 due in New Orleans, I purchase a draft and remit'to 
 my creditor, when exchange is at a discount of 24 per cent. How much do I 
 have to pay for the draft ? ^ ^,^ ^^.^^^^ 
 
 Note. Suppose my creditor in New Orleans should decide to draw a draft 
 on me payable to some tliird party ; his draft would bo for $3705, and I should 
 have to pay that sum, notwithstanding exchange is at a discount. And if I 
 desire to avail myself of the advantage which the discount offers me, I must 
 purchase a draft and remit to him, and not wait for him to draw upon me. 
 J.}^'''' i° "^^ POSHOssion the net proceeds of a sale of cotton amountin'o- to 
 $3j>o, and my correspondent desires me to invest the amount in a draft'and 
 remit to him. For how much will the draft be drawn, exchange bein' at °i 
 per cent, premium ? ^^^^ ^hil^ 
 
 STERLING EXCHANGE. 
 
 Exchange on Great Britain or Ireland is usually quoted thus- «10S" 
 " lOH," " 110," .tc., which means that 108, 10«4, or 110 poumls of tlie nom/zmZ 
 par iulue of $4.41f to tiie pound are requireJ to pay for 100 pounds of the 
 present commercial value. If, as is very rarely the case, exchange should be 
 quoted at " 9S," it would signify that 98 pounds of the nominal par value of 
 $4.44f would purchase 100 pounds of the commercial value. The commercial 
 value of a pound is what it costs to buy a pound, whether $5 or $4. The real 
 par value of a ix)und, which is the unit of value in Great Britain, and which 
 IS often called a sovereign, is the exact value of that coin expressed in our 
 own exirrency, and which is usually sot down at $4.&1, and it is taken at that 
 value by the Lnited States government in payment of customs 
 
 Exchange on France is usually quoted thus : 5.10, 5.114, 513, &c whiVh 
 means 5 francs 10 centimes, or 5 francs llf centimes to thf dollar As bills 
 of exchange on any part of Europe are usually drawn through London or 
 Pans, we seldom find quotations of exchange except on England or France 
 When they are given, however, they express the number of cents which ire 
 required to purchase a unit of the foreign currency ; for example, if exchan-e 
 on Holland is quoted at 42, it signifies that the exchange value of a florinls 
 42 cents, which would be a premium of 5 per cent., the real value of a florin 
 being 40 cents. To determine the value of a given amount in any forei^ cur- 
 rency, except sterling, in dollars and cents, we must get the number of units 
 Of the foreign currency which are equivalent to a dollar, and then divide the 
 
 (138) 
 
 given amount by that number of units ; for example, to determine how many 
 dollars there are in 3000 francs 50 centimes, allowing 5 francs 10 centimes to 
 the dollar, we divide .3000 francs 50 centimes by the number of francs and 
 cenlimes in our own unit of value ; thus, 3000.50 -^ 5.10 = 5.s8.33i. If we wish 
 to ascertain how many dollars there are in 6000 florins, divide 0000 by the 
 number of florins in a dollar, and we get the value in federal money ; thus, 
 COOO -^ 24 = 2400 ; or multiply by 40 and divide by 100, which would produce 
 the same result. 
 
 Note. Quotations of sterling exchange are always understood to be for 
 00 day bills, unless otherwise specified. Sight bills command a higher price 
 thail bills on time. 
 
 Rule for chaxging Sterling to Federal Currency. 
 
 Multiply the number of pounds and decimal of a pound by 40, and divide 
 by 9. Add as many hundredths of this sum to itself as the rate of exchange 
 may express. 
 
 Reason of the rule : The original value of the pound sterling, upon the 
 establishment of the federal currency, was $4.44|^, which was termed the par 
 of exchange on England. This practice began when the Spanish pillar dollars 
 were in circulation, and when the market value of gold, compared with silver, 
 was less than at present. Tiie Spanish pillar dollar contained pure silver, 
 which was worth 4 s. Od. sterling, so that, a dollar having Q sixpences in it, 
 and a pound, or 20 shillings, having 40 sixpences, it was a very easy matter to 
 compute. If it was wanted to turn pounds into dollars, the poiinds were 
 multiplied by 40 and divided by 9, and vice versa. Afterwards the value of the 
 dollar was reduced — that is, more alloy was put into it — to 4 s. 2d., that is, 
 50 pence to the dollar, making each penny sterling worth 2 cents, whicK gives 
 $4.80 to the pound of 20 shillings, or 240 pence. But latterly the dollar has 
 been reduced to 4 s. 1 d. nearly, which makes the pound Avorth nearly $4.87, or 
 109it per cent., that is, 9^ per cent, above the nominal par of $4.44.44 
 
 ^ " 9^ percent^ 42^ 
 
 4.80.G6 
 
 English coins of the reigns of George IV. and William IV. are, however, 
 
 generally below the legal standard : these average about $4.84, as near as can 
 
 be, which is, in the language of the sterling exchange market, 109 per cent. 
 
 Nominal par, $4.44.44 
 
 9 per cent, added, 39 99 
 
 $4.84.43 
 
 But as the rate of premium is not always 9 per cent., but is constantly vary- 
 ing in commerce, being sometimes more and sometimes less, we must add as 
 many hundredths of the nominal par value to itself as the rate of premium 
 
 may express. 
 
 Example : I receive a sterling bill of exchange for £825 3 s. 1 d. What is its 
 value in dollars and cents, exchange being at 8 per cent, premium .' 
 
 12 
 20 
 
 £ 
 
 1. 
 
 3.083 
 
 825.1541 
 
 £825.1541 
 40 
 
 9 ) 33000. ItHO 
 
 3607.3515 
 
 8 per cent, premium. 
 
 (139) 
 
 293.388120 
 3007.35 
 
 $3960.74 Ans. 
 
f : 
 
 ^ij 
 
 BOOK-KEEPING. 
 
 The following is the host rule f.)r changing federal ctirrMicy to storlinr?'. 
 
 Multiply the number oi" dollars by 'J, and divide by 4''. Th.'u suy, As iOI 
 with the rate of exchnnge added is to 100, so is the number of pounds obtained 
 by the first operation to the number of pounds desired. 
 
 I wish to invest Sir'nJ.NO in a sterling bill of exchange. For how many 
 pounds must the bill be di-awu, exchange being at a premium of 8 per cent. ? 
 
 ILLUSTRATION. 
 
 3760.80 
 9 
 
 40 ) 3.3«7.L'0 
 
 £840.18 at $i.4-l| each. 
 
 108 : 100 : : 846.18 
 
 100 
 
 106 ) 8 4618.00 
 
 £783.50 
 20 
 
 8. 10.00 
 Ans. £783.10. 
 
 I receive an invoice of goods from Liverpool, amounthag to £783.10. How 
 much in federal money will pay the amount of the invoicg, exchange being 8 
 per cent, premium .' Ans. $3760.80. 
 
 ILLUSTUATIOX. 
 
 20 10 
 783.5 
 40 
 
 3482.22 
 8 per cent, premium. 
 
 9)31340.0 
 
 $3482.22 at $4.44^ to the pound. 
 
 278.5776 
 3482.22 
 
 $3760.79.76 
 
 This example being the opposite of the one just given, it will be Peen that 
 one proves the other. 
 
 What is the equivalent In sterling of $375, exchange being at a prominm of 
 10 per cent.? ^^ £76.14.1. 
 
 What sum m federal money must T pay for a bill on London of £70.14.1, 
 exchange being 1^- per cent, premium, and the broker's commission for neo-o- 
 tiating the bill being ^ of 1 per cent. ? Ans. $.375.0o! 
 
 Change $17357. 10 to sterling currency, allowing a discount of 2 per cent, on 
 the nominal par value of a pound. ^ns. £3980.10.0. 
 
 Suggestion : Get the number of pounds at par, first-, then say, As 98 is to 
 100, so is the number of pounds at par to the number desired. 
 
 What is the value in federal money of a sterling bill for £3980.10.0, when 
 exchange is at 98 > ^ ns. $17337.40. 
 
 John Stone .V Son purchase of Flint, Edwards h Co., a sterling bill at 00 
 days, on Rae, Wilbur h Hart of London, for £.39;"iO,10.0. They remit this bill 
 to James Adler in Tendon, where it is accepted by R. W. & H., and falls due 
 on the ^Oth Nov., at which time it is protested, causing an expense of £2.19.0. 
 R. W. & H. having failed, Flint, Edwards & Co.'s agent in Londcm pays 
 James Adler on tlie said 20tli Nov., £2000 on account. IIow much must 
 Hint, Edwards * Co. pay to John Stone & Co., on the 24th Dec., to cover the 
 amount still due in London, allowing interest at the rate of 10 per cent, from 
 Nov. 20th to the maturity of a <i0 days' bill at date of 24th Dec, and \ of 1 
 per cent, commission for their trouble in negotiating a new bill .•• 
 
 Ans. $9815.91. 
 (140) 
 
 I 
 
 COMPUTATIONS IN EXCHANGE. 
 
 Flint, Edwards & Co. in Account icifh John Stone & Son, Dr. 
 
 
 
 £ 
 
 s. 
 
 d. 
 
 £ 
 
 s. 
 
 d. 
 
 18— 
 Dec. 24 
 
 For your CO days' Bill on Rae, Wilbur Si 
 
 llartjdue in London Nov. 2Uth, returned 
 
 protested 
 
 Cr. 
 
 For Amount paid in London 
 
 Exrs. — Stamp £2, Protest 19 s. 
 
 Interest from Nov. 20 to maturity of a 60 
 days' bill drawn this date ; say 97 days 
 ou £1959.9.0 at 10 ;;'g 
 
 Commission 4 ^ on £1959.9.0 
 
 Due ii! London, 
 
 Of this £195(5.10.0 as a CO days' bill at (cur- 
 rent rate of exchange) IC.tJ, 
 
 59.18.5 as a sight bill @ llO^ 
 
 3d5C 
 
 2000 
 
 10 
 
 19 
 
 1 
 
 18 
 
 
 
 
 
 
 5 
 
 Oi 
 
 1956 
 59 
 
 10 
 
 18 
 
 8 
 
 91 
 
 
 
 2 
 
 62 
 4 
 
 
 5 
 
 
 $9521 03 
 1 294 28 
 
 i 
 1 
 
 i 
 
 £2010 
 
 5 
 
 
 $9815 
 
 
 As sterlinir exchange fluctuates with almost every steamer, annexed is a 
 Table, showing the value in dollars of a pound at an advance of from G to 
 12j per cent. 
 
 6 &H 
 
 6K 
 
 6% 
 
 (^'4 
 
 ^% 
 
 6^ G% 
 
 1 
 
 $4.7111 
 
 4.7107 
 
 4.7222 
 
 4.7278 
 
 4.7333 
 
 4.7389 
 
 4.7444 
 
 4.7500 
 
 1 
 
 7^^ 
 
 7^4 
 
 7% 7M 7% 
 
 m 
 
 7% 
 
 $4.7555 
 
 4.7011 
 
 4.7007 
 
 4.7722 
 
 4.7778 
 
 4.78.33 
 
 4.7889 
 
 4.7944 
 
 8 
 
 ^Vs 
 
 »K 
 
 8% 
 
 s'A 
 
 8% 
 
 8% 
 
 8J-8 
 
 $4.8000 
 
 4.8055 
 
 4.8111 
 
 4.8106 
 
 4.8222 
 
 4.8278 
 
 4.83.33 4.a389 
 
 V 
 
 9% 
 
 9K 
 
 9% j 9^ 
 
 ^'Ji 
 
 9% 
 
 9.% 
 
 $4.8444 
 
 4.8499 
 
 4.8555 
 
 4.8011 
 
 4.8067 
 
 4.8722 
 
 4.8778 
 
 4.8S:i3 
 
 10 
 
 lf'% 
 
 W4 
 
 10% 
 
 10^ 
 
 10% 
 
 10% 
 
 lojji 
 
 $4.8889 
 
 4.8944 
 
 4.9000 
 
 4.9055 4.9111 
 
 4.9107 
 
 4.9222 
 
 4.9278 
 
 11 
 
 IIJ^ 
 
 UK 
 
 11% 
 
 11^ 
 
 11% 
 
 n% j 11 -<^ i 
 
 $4.9333 
 
 4.9;j89 
 
 %9444 
 
 4.9500 
 
 4.9555 ^.fKill 
 
 4.9067 
 
 4.9722 
 
 12 
 
 12% 
 
 12^4 12% 
 
 12'^ "1 125.^ 
 
 12% 
 
 12% 
 
 $ 4.9778 
 
 i.9fm 
 
 4.9889 
 
 4.9W4 
 
 5. 5.0055 
 
 5.0111 
 
 5.0167 
 
 (141) 
 
i> 
 
 i| 
 
 * t-, 
 
 - <• •! 
 
 U \ 
 
 BOOK-KEEPING. 
 ILLUSTRATIOX. 
 
 £ 1 at Ol per cent, is . 
 
 iO '♦ " « «4 „ $ 4.86 
 
 100 *« «' u u „ 48.0r. 
 
 1000 « »« .< u u 4K').07 
 
 Jei53x 
 
 10 8.1 4-87-8= $r4n..30 
 
 5 8. 1 2.44 
 
 2 8. Od. 1 1.22 
 
 the -luo" A^h^^^^^^^^^ to f. 0350.I0. What is 
 
 "'<-UL> , allouiug- 51 francs to tl.e dollar > 
 
 Wha. .u. , p.., ,„, , ,„,. „,,,^ „^^,^^_ ^^ ^ ^_^^___^ ^^^ ^^^ ^^^^ ^ 
 
 Sugrg-cstion : Increase the value of -i finrin , i u • "'''•"• S'^-W. 
 
 Multiply the number of florins hvti;.,' ''?"^ '^ ^^ '^^^''^^ '•>' 5 per cent 
 
 Will be the value in fkoral monoy "^ ''''' ^""°^' '"^ ^•^^*^' ^^^^ the r^^uU 
 
 istirrsrh:::;;;-;:-^-. 
 
 15 pounds and the silver ruble is^a u^'af 75 ce^ts ' ""'" "' ' '''''' ••"'"^- '^' 
 Su-resti.,n : Ascertain the number nf ^V ?^ ^»*- 3!:u.3(.. 
 
 whole numlK^r of pounds by is^H thl ^r^;^' V^"" "^ ^«^^«- I>ivi'lo the 
 rnblos whi.-h the Tmp will cosi 'Jhen .h? T" ^"^^ '^' """^b^"'" o^ silver 
 
 The examples already o,ven ,re intended t "V''' T'"' "" ^^''^''^l ">"n-v. 
 exchano^e where the c,,rrencies of ^1 "t - 1" T "'' "'""'*^'- ^^ eon.putino- 
 a« iHustrations of what is termed Di ect7vl?'"''' T ^«--"<^^d. ^"^ «orve 
 observed, bills of exchauj^e are usually .^^^^"f-, ''"*' ''« ''"^ ^^^n a'-.uly 
 London or Paris, which is often ad -"ft C«", to N'^'f '"""^''^'^ ''^'^'^Sh 
 inuch as by this indirect course, he ean pnv "Iht nl '"''"' ""^ ^ ^"'' "»^«- 
 than by drawinjr « bill directlv .... .V*i / * °^ '* °'''^" amount for less 
 
 The rollowin.rexamDrs rl i^ t^^ place where the debt is due ' 
 
 are usually term::;^S:?'^::;i:r ' ''^ ^^^""^'^^^ -^^^ ^^--^^^^ 
 
 ^-^^^^^^I'l^Tl^'S^^^ London. Ster- 
 
 «jf 4 <ranc8 to the dollar, and of P«r 1 ^f^-^'^,h«»Sre on Paris is at the rate 
 
 Wbieb course will be most to his ad -ama.^; "to'? ''^'""^^ ^^ "'^' I^""^ 
 tlirough Paris .' '^ *"' nnta^rc^ to draw directly on London or 
 
 „^ox "''■ '^^"■°"&b Paris, by $-00.0(5. 
 (142) 
 
 COMPUTATIONS IN EXCHANGE. 
 
 Direct 
 
 ILLUSTKATION. 
 
 Indirect. 
 
 £1000 
 
 
 £m)o 
 
 40 
 
 
 -1 
 
 9 ) 40(X)0 
 
 
 4)24444| 
 
 4444.44| 
 
 
 j§4444.4l| 
 
 200.»)G(36 
 
 
 
 4444.44 
 
 
 
 $4711.1006 
 
 Such examples are frequently performed by what is called the Chain Rule, 
 which is illustrated by the following operation : — 
 
 Draw a horisoutal line, and place the amount to be remitted above it at the 
 left hand. Below the line, a little to the right of the amount above, place the 
 number of units of the same name or denomination as that first written, and 
 above this last number write its equivalent' in another denomination, and con- 
 tinue to arrange all the different denominations in the same manner. Then 
 make a dividend of the product of all the numbers above the line, and a divi- 
 sor of the product of all the numbers below the line, and the quotient will be 
 the result desired. If any numbers above and below the line mutually cancel 
 each other, it is better to see that they are cancelled before multiplying and 
 dividing. 
 
 By tliis rule the example just given would be arranged thus for the indi- 
 rect:— £i00U 2 1|- franca $i 
 
 £ i i^ francs. 
 
 But in order to prepare the statement for cancelling, we cliange the 24^. francs 
 to ninths, and the 1 pound to ninths, the j-| francs to halves, and the $1 to 
 
 = $4444.414. 
 
 halves, thus : — 
 
 ilOOO 220f. $>' 
 
 £y llf. " ''9" 
 
 To compute for the amount to be paid for a draft direct upon London, the 
 
 statement by the chain rule would be as follows : — 
 
 £l(titO $iO $UX5 
 
 ^,_ - ^ =$4711.11. 
 £'J $100 
 
 Having to remit £414.158. to Liverpool, T wish to know which is the most 
 
 profitable, to buy a set of exchange on Liverpool at lOl per cent. i)remium, 
 
 or send it by way of France ; exchange on the latter place being l<i| cents per 
 
 franc, and exchange on Liverpool can be bought in France at the rate of 
 
 24I francs per pound sterling, and I have to pay my correspondent in France 
 
 •| of 1 per cent, for purchasing the bill on Liverpool. 
 
 * Ans. By way of France, $15.69. 
 
 Direct. 
 434.75 40 110^ 
 
 ILLUSTR.VTIOX. 
 
 Indirect. 
 431.75 21.5 
 
 1(X)| 
 
 19f 
 
 9 100 1 1«0 1 
 
 I wish to pay a debt due in Hamburg for 30000 marcs banco. I find that I 
 can remit to London at 0-1 i)er cent, premium, and from London to Hamburg 
 at the rate of £3 per 41 mtircs banco ; or T can remit to Amsterdam at the rate 
 of 41^ cents per florin, ami from Amsterdam to Hamburg at the rate of 7 
 forins to 8 marcs btnco. Hire^-t ex.-hauge is at 37 cents per marc banco. 
 Which course will be the most prolitahle ? 
 
 Ans. By purchasing a bill on Loudon. 
 
 (H3) 
 
pi 
 
 Via Amsterdam. 
 m. b. 30000. 7f. !§.<? 
 
 - = 810893.75 
 
 BOOK-KEEPING. 
 ILLUSTRATION. 
 
 Marcs banco 30000 X $.37 = $\\ 100.00. 
 
 MEASURES. 
 
 Via London. 
 m. b. .'Ujooo £3 $K> S',M9 
 
 :Z^ = $10082.93 
 
 m.b. 8 :iuof. m. b. 41 £y $,'uo 
 
 The proceeds of a pale of goods, consifjncd to me from liromen, is $',>rC4.r.7, 
 on which 1 am to charg-e a commission of 10 fior cent., and remit the balance 
 to my consijrnor in such a way as 8ha*ll be most aUvaiitaj,a'0U8 to him. Ex- 
 cliange on Taris can bo had at O,' cents per 5 francs, and in Paris exchange on 
 Bremen is 17 francs to 4 thalers. Exchange on Liverpool can be had at^U per 
 cent, premium, and in Livt-rpool exchange on IJremen is r> thalers to tJ>e 
 pound sterling. Direct exchange is N>-^ cents per thaler. Which course will 
 be the best, allowing ^ per cent, brokerage to corrcsiMJudents both in Liver- 
 pool and Paris f ^j^^^ jjy ^^^y ^j- p^jg 
 
 ^OTE. A Bremen thaler has 72 grootcs. 
 
 ILLUSTUATIOX. 
 
 Amount of sales, $270^4.07 
 
 Commission 10 per cent., 270.47 
 
 $2488.20 
 Direct. 
 $2488.20 400 
 
 =3100 thalers, 40 grootcs. 
 
 Via Liverpool. via Paris. 
 
 24.^8.20 9 100 100 (i 2488^05.00 KJO 4 „ ^ 
 
 = 30G0tha. 28groo. ^— =310Gtha. 
 
 40 109 10(.4 1 
 
 Ans. 3ri ftHJt. 
 
 TO ASCERTAIN THE CUBIC CONTENTS OF BOXES, BALES, 
 
 CRATES, &c. 
 
 "What are the contents in cubie fief of a bale measuring 4 feet inches in 
 length, 3 feet 4 iuc'ies in width, anl 2 feet inches in depth .' 
 
 Ans. Sift 
 
 ILLUSTRATION. 
 3 5 
 -9- -W 5 75 „ , ^ ^ 
 
 The 4 feet inches are expressed as § of a foot, the 3 feet 4 inches are ex- 
 pressed as ^- of a foot, and the 2 f>\'t "ii inches are expressed as ^ of a fo(!t. 
 The terms are then cancelled as far as possible, and what numbers remain 
 above the line are multiplied together for a flividend, and the numbon re- 
 maining below the line are midtinliel together for a <livisor. The quotient 
 is the solid contents in feet and fractional parts of a foot. 
 
 What are the contents in cul)ie feet of a crate 5 feet in length, 4 feet inclies 
 in breadth, and 3 feet 7 inches in depth. Ans. aH-A- feet. 
 
 4 8 
 ILLUSTRATION. 
 
 5 X 19 X 43 
 
 IX 4X1^ 
 
 Shipped to California 12 crates of crockery, each measuring n feet 3 inelies 
 long, 4 feet 8 inches wide, and 3 feet 9 inches deep. What did the freight on 
 the whole amount to at 20 cents per cubic foot * Ans. $202.50. 
 
 ILLUSTRATION. 
 
 12 25 14 1 5 20 
 1 4 3 4 100 
 (144) 
 
 = 202.50 
 
 A USEFUL TABLE FOR FARMERS. 
 A box 24 by 28 inches, and 10 inches deep, will contain a barrel of 5 bush. 
 
 10 
 
 (( 
 
 10 
 
 (( 
 
 (( 
 
 21 
 
 10 
 
 (c 
 
 10 
 
 (( 
 
 (( 
 
 h\ 
 
 10 
 
 cc 
 
 8 
 
 (( 
 
 (C 
 
 h% 
 
 8 
 
 (( 
 
 8 
 
 (( 
 
 (( 
 
 %V 
 
 8 
 
 (( 
 
 8 
 
 (( 
 
 (( 
 
 *A 
 
 4 
 
 (( 
 
 8 
 
 (( 
 
 (4 
 
 4 2 
 
 4 
 
 (( 
 
 4 
 
 « 
 
 (C 
 
 4-2- 
 
 (( 
 
 (( 
 
 (( 
 
 (C 
 
 cc 
 
 (( 
 
 « 
 
 <( 
 
 a bar. of2-l-buslL 
 1 bushel. 
 
 half a bushel. 
 
 a peck. 
 
 a gal., or ^ peck. 
 
 ^ a gal., or 2 qts. 
 
 a quart. 
 
 ♦h^l' ""t ^^Jlfr"" f " !""'?' measures, and are computed to correspond with 
 
 tnL "; n 4 ,'•' '*'';'^"'^ ^^^"^ ^"^^"^^' °^ Winchester bushel, which con- 
 tains 2l50^*g^ cubic inches. 
 
 H Jrh T""- /""^ ^^^P^^y^ OF A BIN. Multiply the length, breadth, and 
 depth, ( mside measure taken m inches,) together, and divide the product by 
 2150.4 ; the quotient will be the contents in bushels 
 
 Dividing the product by 5370 will give the contents in barrels of 2l bushels 
 Dividing the product by 10752 will give the contents in barrels of 5 bLhels 
 
 mt?'t?« t>'?f'''?.'*^ ^ ''^°' ^^ *^^ ""^"^'•^'^ <^*^"t«^ts in bushels, being 
 given, to find its third dimension. " 
 
 fhe^niS^V^'tf 'T ^"'"^^'- °^ »^"«h^l« by 2150.4, and divide this product by 
 the product ofthe two given dimensions in inches. 
 
 tI? ^;^'^'^''^ ^i!^\^ VV^HEN IT IS HEAPED UP IN THE MIDDLE OF A FLOOR. 
 
 Take the perpendicular height and the slant side of the heap in inches and 
 multiply the difference of the squares of each measure by the perpendicular 
 height, and divide the product by 2053 ; this will give the number of bushels 
 very nearly. 
 
 r/Vi ^l ^'^^^""^ "P ^^"^"^^^ ^ partition, take one half of the above result 
 If It be heaped up in a right-angled corner, take one quarter of the above 
 
 * " B LI I IJ • 
 
 Example : How many bushels in a heap of grain lying in the middle of a 
 3 inches ? ^''''P^'"^'^"^^'' ^^'^^* ^^""S 4 feet inches, and the slant side 7 feet 
 
 ILLUSTRATION. 
 
 87 In. X 87 in. = 7509 square of slant side. 
 54 in. X 54 in. = 2910 square of height. 
 4053 difference. 
 ^4 height in inches, multiply. 
 
 251202 -;- 2053 = 122 bushels. 
 
 TABLES OF CUBIC MEASURES. 
 
 « Measurements of cubic contents are usually made in feet or in inches, and 
 
 or llln"! r^i" '' '''^°*'^ '° ^y ^'^'"' "'^^'"'■*'' '"^^^ ^' y^^^'^ P^'-^h^S' bushels, 
 urement necessary reduction is made from the result of the first meas! 
 
 «fl' ^T, ^i"^ ^rT"". ""^ ''^'''«*^^'°S- tbe labor of such reductions, I have con- 
 
 u"Z Jn """^"^ *''^''' ''''''''' ™^"^ "•'"' ^-^^°"* d«»bt, find very 
 u- ui as tliey give m a convenient form the relations which several of our 
 units of measure bear to others. 
 
 13 (146) 
 
1 
 
 B0OK-K££PLNG. 
 
 site the word ' Yard,' wi 1 bo fouid the "i^-^ho . ' .""^'' *^"'' ^^^ ^PP"" 
 about four and three qTiartera If thn n. T^'"'' °/ ^^''^^ ^" " ^^'^' ^v'uch is 
 wanted, then the ^^d" t: il ' wi ^be Suml^at STo^"'?/^ '^ '"^'^^^ '' 
 side ; under one, and opposite the other! ^^iTlL bund the TJ.Z""' ' '' '^' 
 which is about one foot and a quarter 0«>osTt.A K?.i ? , ^'' ^*^1"i'"'^d, 
 you (Ind that a foot is about eiX J^nths o?Xs^^^^ ""'' ""'^^''' ' *^"«*'' 
 
 holdin, grain to xneasure .. fe^T^Z ^^^ o'e^rdeTtL?"^ ''' 
 
 12X8X5 = 480 feet 
 multiply by .g 
 
 and the result 384.0 
 Is the number of bushels, very nearly. The work Pnn ho «,«.« . , , 
 
 by using the full decimal given in the table. ^°'' accurately dow 
 
 It will also be seen by the table, that there are 
 
 216 
 
 128 
 
 27 
 
 243 
 
 feet in a square, 
 cord, 
 yard. 
 " " perch. 
 
 
 2150.42 inches in a bushel. 
 
 1728 inches in a foot. 
 537.6 " " peck. 
 268.S « » gallon. 
 ^'•'■^ " " quart. 
 &c., «Scc. 
 
 TABLE No. 1. 
 
 Sq. 
 
 Cd. 
 
 Yd. 
 
 Pch. 
 
 Bu. 
 
 Jt. 
 
 leek 
 
 Gall. 
 
 Qt. 
 
 Inch I 
 
 1 
 1.6875 
 
 8. 
 
 8.7273 
 
 173.576 
 
 216. 
 
 .5926 
 1 
 4.7408 
 5.1718 
 102.8G-' 
 
 128. 
 
 .125 
 .210'J.') 
 
 1 
 1.0909 
 
 .11458 
 
 .19.3.35 
 
 ,91064 
 
 1 
 
 .005761 
 ,009722 
 
 .0046.30 
 .007813 
 
 .046089J .037037 
 
 : 1.697! 10.8885 
 
 694..306| 41 1.448 
 1388.61 j 822.8961 
 •5554.45 '329 1. 58 1 
 37.3248.221187.1 
 
 I 27. 24.75. 
 
 80.7882| 79.5540 
 173.577 1 159. 108 
 694..30<ij6;j.j.432j 
 46656.0 42766.8 2150.42' 1728 
 
 .050.i80 
 
 1 
 1.24445 
 
 4. 
 
 8. 
 
 32. ; 
 
 .0404(4 
 .803558 
 
 1 
 3.21427 
 0.42854 
 25.7142 
 
 .001440 .000720 
 .0024:5o|. 001215 
 .01152X'j. 005761 
 .012370 .006285 
 
 .25 
 
 .311112 
 
 1 
 
 2. 
 
 8. 
 
 .125 
 
 .155556 
 
 .5 
 
 1 
 
 4. 
 
 537.0051268.803 
 
 .000003 
 .000005 
 .000021 
 .000023 
 .000465 
 .000579 
 ,001860 
 003720 
 014881 
 1 
 
 1000 shingles will iSy ™„„ar^',rf „1 ,, " ^ "'""'''= '''*'• " '» ^•*' <"•■" 
 . ftw feet more t"„n i ,o ,are 'nT ' T "™"">' P"' ""• <'"=y >"" '«/ 
 
 3 feet eaeh wayV^wr^;',,^,';: ^ "'^ '" »— " » -^faco measurio,^ 
 
 contain one pereh „r 'S ;,^Wc f«t tL ™" ' f ','"' """ """ '''"" Ws" «"' 
 
 ^^uHn, >^..;t^ea^';;^rr„!;J^r£^-;St-2^--^^^^^ 
 
 l-niS'st"ef,f .''I'L''! ^'r"''''" """"=' "<■ '-"?■»""■ -"lA '■ used in the 
 
 (146; 
 
 MEASURES. 
 
 « The ^raZ/on here given is the standard for dry measure, and contains 268 8 
 cubic inches. The standard gallon of liquid measure contains 231 cubic inches 
 The old ale gallon contains 282 cubic inches. The imperial (English) ^allon 
 contams 277.274 cubic inches. A gallon (231 inches) of distilled water wei-hs 
 8..3:i89 pounds Avoirdupois. Tlie standard Avoirdupois pouud is equaf in 
 weight to 27.7015 cubic inches of distilled water. A cubic foot of water wei<rh8 
 about (i2..38 pounds." ° 
 
 The following table shows the relations of the cubic contents of each kind 
 of gallon to the others, and also to a cubic foot and a cubic inch : — 
 
 
 
 TABLE 
 
 No. 2. 
 
 
 
 
 
 Foot. 
 
 Ale Gal. 
 
 Imp. Gal. 
 
 Dry Gal. 
 
 Liq. Gal. 
 
 Inch. 
 
 Foot, 
 
 I 
 
 .163194 
 
 .160460 
 
 .155557 
 
 .1.33681 
 
 .000579 
 
 Ale Gallon, 
 
 6.12706 
 
 1 
 
 .983241 
 
 .95.3202 
 
 .819149 
 
 .00.3546 
 
 Imperial Gallon, 
 
 6.2.3210 
 
 1.01704 
 
 1 
 
 .969450 
 
 .8.33111 
 
 .003607 
 
 Dry Gallon, 
 
 6.42850 
 
 1.04910 
 
 1.03151 
 
 1 
 
 .859.365 
 
 .003720 
 
 Liquid Gallon, 
 
 7.48052 
 
 1.22078 
 
 1.200.32 
 
 1.16365 
 
 1 
 
 .004329 
 
 Inch, 
 
 1728. 
 
 282. 
 
 277.274 
 
 268.803 
 
 231. 
 
 1 
 
 Received and delivered, on account of Messrs. Darracott & Co., various lots 
 of cotton, as follows. What amount is due for storage, at 20 cents a bale 
 per month ^ 
 
 January 10th, received COO bales x 9 5400 
 
 " 19th " 200 « 
 
 800 " 
 February 10th, delivered 200 « 
 
 (( 
 
 (( 
 
 600 " 
 20th, received 70 " 
 
 25th, 
 
 670 " 
 200 «' 
 
 March 10th, delivered 
 April 3d, 
 
 «i 
 
 870 
 300 
 
 670 
 
 
 X22 
 
 xio 
 
 X5 
 
 X13 
 
 X24 
 
 17600 
 6000 
 3350 
 
 11310 
 
 13680 
 
 30) 57.340 
 
 1911 
 20 
 
 Ans. $382.20 
 Explanation : The first lot of 600 bales was in store 9 days before any more 
 was received. The 600 multiplied by 9 gives the number of days that one bale 
 should be stored in order that the cost should amount to the same as 600 bales 
 for 9 days. On the 19th of January 200 bales more were received, and the 800 
 bales then m store remained 22 days before any was delivered. The 800 is 
 multiplied by 22 for the same reason that the 600 was multiplied by 9, and so 
 on tlirough the whole time. The results representing the number of days for 
 Which one bale might be stored are added, and the amount divided by 30 The 
 quotient is the number of montlis for which one bale might be stored in order 
 to be equiv.alent to tlie number of days for which the given number of bales 
 is chnrgeable. This number multiplied by the price per month, gives the total 
 amount due. ° 
 
 (147) 
 
SOOK-KEEPINQ. 
 
 APPENDIX. 
 
 SPECIMENS OF ACCOUNTS, EXPLANATION OF MERCANTILE 
 TERMS, TRANSACTIONS, ETC. 
 
 ABBREVIATIONS. 
 
 THE FOLLOWTMG CONTRACTIONS ARE IN COMMON USE: — 
 
 e At. 
 
 ^ or Acct. . . Account. 
 
 A Ampersand, or and. 
 
 &c. or etc. . . And so forth. 
 
 Acce Acceptance. 
 
 Amt Amount. 
 
 Bbl Barrel. 
 
 B/p Bill of parcels. 
 
 c Cent. 
 
 Co Company. 
 
 Cr Credit, or creditor. 
 
 Cwt Hundred weijfht. 
 
 Die Discount. 
 
 Dr Debit, or debtor. 
 
 $ Dollar. 
 
 Ditto, Do. . . The same. 
 " " The same. 
 
 E. & O. E. . . Errors and omissionn 
 excepted. 
 
 f. Franc. 
 
 Hhd Hoefshcad. 
 
 Int Interest. 
 
 I"st Instant, the present 
 
 month. 
 
 £ Pound sterling. 
 
 L. 8. d. . . . Puuud, shilling, pence. 
 
 I^bs Pounds wci<rht. 
 
 Mdwe Merchandise, 
 
 Mo., 31 o8. . . Month, months. 
 ^ , No. . . . Number. 
 
 ^ Per cent. 
 
 ^ Per, each, by the. 
 
 Prox Proximo, the next 
 
 month. 
 Qrs Quarters of a hundred 
 
 weight. 
 
 Ult Tlie last month. 
 
 X Multiply. 
 
 -f- Divide. 
 
 + Add, or plus, more. 
 
 — Subtract, or less. 
 
 I = Equal to. 
 
 These fractions are written smaller and above the other figures ; 
 thiii^, ^.'.li-r:, instead of $2,024; !»» yards, instead of Ibf yards ; 15i lbs., instead 
 ofl&^lbs. "* * 
 
 1 1 
 
 Al. An affix to a vessel's name at Lloyd's, (see Lloyd's,) the letter denot- 
 ing the first class character of the hull for build and seaworthiness ; the 
 figure 1 that she is well found in rigging, gear, &c. j the figure 2 would im- 
 ply that she was insufficiently found. 
 
 Abandonment. In navigation, the leaving a ship as dangerous or unsea- 
 wortby ; a relinquishment of vessel and cargo to establish a claim on the 
 underwriters. 
 
 (148) 
 
 APPENDIX. 
 
 Abatement. A discount allowed for prompt payment, damage, overcharge, 
 
 or otlier reasons. 
 Account. A statement showing the amount due by one person to another 
 
 for goods, cash, &c. Accounts are kept under their several titles in the 
 
 Ledger, from which they are copied when required. 
 
 EXAMPLE. 
 
 ^'o G-EORGE N. COMER, Q^t- 
 
 4^ 
 
 / 
 
 
 
 
 
 Jarv. /«*^ 
 
 <^ot antoutU o^ cu>ct. tenaeiea 
 
 47^ 
 
 00 
 
 
 
 '^ Q/Z^tcdandMB ^t ^/fi. 
 
 3675 
 
 00 
 
 4453 
 
 00 
 
 /^ 
 
 <^r 
 
 
 
 
 
 /an. 26eA 
 
 <^ot ^a<i^n, on. accou,7U p 
 
 47^ 
 
 00 
 
 
 
 ^ ^a ^. 
 
 ^Od^^n, 
 
 'f^i Q^eOiuaiu, 'fo . 
 
 
 
 
 
 Accountant. A professional or official calculator, skilled in posting and 
 balancing the books of merchants or corporations, and in investigating, ar- 
 ranging, and detecting errors in complex accounts. 
 
 Account Current. A plain statement of account, or bill of particulars, 
 rendered to a party, showing his transactions with another. — See examples 
 in Commercial Computations. 
 
 Account Sales. A statement of particulars or details, rendered by a mer- 
 chant to his consignor, of the disposition of a parcel of goods. It contains 
 a statement of the quantities sold, and the prices ; also the charges for freight, 
 commission, &c. — Sec example in Commercial Computations. 
 
 Acceptance. In commercial transactions, agreeing to the price or terms 
 proposed. The receiving a bill of exchange or order in such a manner as to 
 bind tlie acceptor to make payment. The word "Accepted " is usually writ- 
 ten across the face of the bill, with the name of the acceptor and the date 
 of the acceptance. 
 
 Ad Valorem. According to the value— an assessment by the customs for 
 duty. 
 
 Advance Notes. Authorized orders on the owner or agent of a vessel, ex- 
 ecuted by the master, generally for one month's wages, given to the sea- 
 men on their signing the articles of agreement. 
 
 Adventure. A term applied to shipments of goods to or from some par- 
 ticular place. 
 
 Advice. Due notice given in respect of any monetary or commercial trans- 
 action ; notice of a bill drawn. 
 
 Agent. One who represents a principal, or buys and sells for another. 
 
 Agio. A term on the continent of Europe lor the premium or percentage 
 allowed between two sorts of money, one being of a superior mintage value 
 to tlie otlier, or between paper and specie. 
 
 Assets. The funds and property of a trader ; real and personal est-ate, debts 
 due, &c. 
 
 13* (1«) 
 
BOOK-KEEPING. 
 
 Assignee. An official manager appointed to administer an insolTent's es- 
 tate ; trade assignees are appointed by the creditors. 
 
 ASSIGN3IENT. Au absolutc transfer of property ; the mcoking over of freight, 
 bill of lading, &c. 
 
 AttokxeT. A representative or deputy ; one holding a power or authority to 
 act for another ; a solicitor employed to prosecute or defend a claim or suit 
 in a court of law. 
 
 Auditor. One who inspects or examines and certifies accounts. 
 
 Average. A balance struck ; a fair sample. In marine insurance, the equita- 
 ble adjustment of the projKirtion of loss which is sustidned by insurers ; a 
 general or gross contribution made by difl'orent parties towards a loss sus- 
 tained by some for the benefit of all, as in making good any damage sus- 
 tained by a ship, in throwing cargo overboard in a storm, &c. It may be 
 special or particular, and customary or petty average, as expressed in the 
 bill of lading. 
 
 Balance. The balance of an account is the difference between the debit and 
 credit side. An account is said to balance when the debit and the credit side 
 are of the same amount. To balance an account is to enter the balance, and 
 to add up both sides, and then to bring down the balance as a new amount. 
 
 Balance of Trade. The difference in the money value of the produce or 
 manufactures received and exported. If we receive more than we transmit, 
 we have to make up the balance in specie shipments, which tells adversely 
 against the trade interests of the country. 
 
 Bale. A package of mercliandise of variable dimensions ; the most exten- 
 sive articles of commerce received in bales being cotton and w^ool. 
 
 Ballast. Any heavy material placed in the hold of a ship to steady it in the 
 water. A ship which leaves a port without a cargo is said to be " in ballast." 
 
 Bank. An establishment for the custody and issue of money, under the su- 
 pervision of a board of directors, who meet periodically ; the president, 
 cashier, and other officers, being usually present during business hours. 
 
 Bank Bill. A promissory note of a banking company, payable on demand, 
 and used as currency ; a bank note. 
 
 Bank Book. The pass book given out from a bank to a depositor, to contain 
 a debtor and creditor statement of his account. 
 
 Bear. A stock-exchange term for a jobber or dealer who has an interest in 
 depressing prices. 
 
 Bill. An account rendered ; an acceptance ; a promissory note. 
 
 Bill Books. See pages 67, 68, 69. 70, 72, and 73. 
 
 Bill of Entry. A note of the particulars of goods entered at the custom 
 house. Printed blank forms of this and all other custom-house papers 
 may be procured at almost any of the stationers for a few cents, and tlio 
 aspirant for counting-house honors is advised to invest a trifle in their pur- 
 chase, and then make himself master of their contents. 
 
 Bill-Head. A printed form, with name, address, or business, used for mak- 
 ing out accounts. 
 
 Bill of Exchange. A written order addressed by one person to another, 
 directing or requesting him to pay a ccrt.iin specified sum to the person in 
 whose favor the bill is drawn, or his order, at some day fixed, or ascertain- 
 able. In mercantile phraseology, the person who draws a bill is termed the 
 drawer; the person in whose favor it is drawn, ihQ payee, or remitter; the per- 
 son on whom it is drawn, the drawee ; and after he has accepted, the acceptor. 
 Those persons into whose hands the bill may have passed previously to 
 its being paid, are, from their writing their names on the back, termed t/»- 
 
 (150) 
 
 Y 
 
 1 
 
 k 
 
 APPENDIX. 
 
 dorsers ; and the person In whose possession the bill is at any given period, 
 is termed the holder, or possessor. Indorsements are always written on the 
 back — that is, across the back ; wliile an acceptance is always written on the 
 face, usually across the face of the bill. Formerly it was the custom to 
 write an acceptance with red ink, to distinguish it readily from the black 
 ink in the body of the bill ; but that is rarely resorted to nowadays, ex- 
 ceptiu*'- by very precise or over-fastidious people. 
 
 For °i"-n bills are generally drawn in sets, or duplicates, (see Set of Ex- 
 chan'^e,°at the beginning of this book,) which may be transmitted by oiffercnt 
 conveyances, in order that if any one or more should bo lost, another mrv 
 arrive safe. Eacli boars the condition that it is payable only while the others 
 remain unpaid ; thus the first is payable only, " second and third uiipaul ; 
 the second, « first and third unpaid ; " and the third, " first and second un- 
 paid ; " whichever is first presented and accepted, the others become void. 
 The party upon whom a bill is drawn should only accept one of the set, as 
 it is held that if he accepts one and afterwards pays another, he will not be 
 liberated from the claim of a bona fide holder of the accepted one. 
 
 Foreign bills are those which arc drawn or payable in a foreign country ; 
 and for "this purpose, each of our states is foreign to the others. 
 
 Inland bills or drafts are drawn and payable at home. If a foreign bill be 
 not accepted,. or be not paid at maturity, it should at once be protested by a 
 notary public. Inland bills are generally, and promissory notes frequently, 
 protested ; but this is not necessary. The whole object of having a notary 
 protest a bill or note is to have the evidence of his having so done— he be- 
 ing a legal officer duly commissioned for the purpose. 
 
 A person who takes up a bill or note before it is due, that is, before the 
 last day of grace, (sec Days of Grace,) buys it j he does not pay it. A bill or 
 note payable on demand, or pay so much money without any time being 
 mentioned, means payable upon presentation, and no grace is allowed. If it 
 was payable ten days after demand, that would mean ton and three days' 
 crrace, so that if the demand was made on the 1st, it would in fact be payable 
 on the 14th. If the last day of grace falls on a Sunday, or a legal holiday, 
 the bill is due the day previous. But if there be no grace, (as if it were writ- 
 ten so many days without grace,) and the bill or note falls due on a Sunday, 
 or other holiday, it is not payable until the next day. 
 
 Bills and notes payable on demand should be presented for payment with- 
 in a reasonable time. If they are written " with interest," this strengthens 
 the indication that they were intended to remain for a time unpaid and unde- 
 manded But to hold indorsers, they should be presented within whatever 
 time circumstances may make a reasonable time ; and this is such a tunc as 
 the interests and safety of all concerned may require ; it may be a few days, 
 or even weeks. In Massachusetts, by statute, they must be presented withm 
 sixtv days When a bill is refused acceptance or payment, notice of such 
 refusal must immediately be given to any party to it, to whom the holder 
 wishes to have recourse. , , ^ u 
 
 Notice of dishonor does not mean mere knoioledge, and a party may be 
 entitled to a formal communication of the dishonor of a bill, though it may 
 be clearly shown that he knew it would be dishonored. If a party to whom 
 notice is to be given is not to be found, after diligent inquiry, a letter through 
 the post office to his last knoxvn address is sufficient, and it is sufficient if 
 he resides so far distant that it could not possibly reach him for months 
 If there are several indorsers, and you only desire to give notice to the last 
 one he may give noxice to the next before him by any mail on the day 
 • after he receives notice, and so may each of the parties receiving notice. 
 
 (151) 
 
1 
 
 ♦i 
 
 BOOK-KEEPTXG. 
 
 When the \^rd " month" is used in specifying the time of payment, It is, as 
 in other mercantile contracts, to be understood of a calendar month, not a 
 lunar month. 
 
 A bill on London will pay a debt in any part of Great Britain ; so a bill on 
 New York will pay a debt in almost any of tlie cities or towns in the L'uited 
 States , London and New York bein^' the great monetary centres of their 
 respective countries. 
 
 Bills of exchangre serve three useful purposes in commerce. Ist. A bill 
 puts a debt in a tan^'ible form ; for example, instead of Icavinj; a debt to be 
 paid at an indefinite period, so as to protract its settlement, if it be put in 
 the shape of a promise to pay, tlie creditor possesses the power to compel 
 payment at a certain and not very distant period. 2d. A bill is a negotiable 
 instrument. If the parties be trustworthy, it may bo discounted for cash ; 
 and thus, while the creditor will receive his money, less a trifle for dis- 
 count, the debtor is left unmolested till the final day of payment. 3d. A 
 bill is a convenient representative of money, which may be sent from place 
 to place in a letter ; and if accidentally lost, its payment may be stopped, 
 and a new bill fonvarded to its destination. 
 Bill of irE.VLxn. An official document required in some countries to bo 
 produced by the master of a vessel coming from a port suspected to be un- 
 healthy, and certifying as to the condition of the passengers and the crew ; 
 it is either a clean bill of health, or a foul bill. 
 Bill of Ladln'g. -A receipt (usually a printed form filled up with writing) 
 given by the master of a vessel for goods that have been shipped with him. 
 Three copies arc usually drawn out, one for the use of the master, another 
 to be retained by the shipper of the goods, and the third to be sent to the 
 party to whom the goods are forwarded. The shipper gives the party to 
 whom he sends the bill the riglit 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. 
 Bills P.vy.vble. A title given to notes, bills, and other paper claims out- 
 standing against an individual or firm. 
 Bill of P.vrcels. A list or account of goods sold, given to the purchaser 
 by tlie seller at the time of sale, containing a specification of the quantities 
 prices, date, and other particulars. ' 
 
 EXAMPLE. 
 
 ^au^^ y GEOROE N. COMER, 
 
 139 Washingtox Street, Boston. . 
 
 Jan, S 
 
 50 ^nut. Tf^. .^i^c/ ^Uei @ 03. 50 , /.^5 
 50 // // ^ot^ // 2.6S^\'f3'f 
 
 50 // ^/ue ,^t:c^ // 
 
 o o, 
 
 ^.£d //i> 
 
 50 'f // y/%e // 9.3f 
 
 400 ^t. ^. e^en<,, ^.q4^. ^:, (9^n, 
 (^ac^^^^OO, ^^00, ^^00, ^iOO @ .75 
 
 (152) 
 
 300 
 
 B5 
 50 
 75 
 
 7^7 
 
 50 
 
 - 
 
 t 
 
 APPENDIX. 
 
 Bills Receivable. The unpaid notes, bills, &c., claimable by an individual 
 or firm. 
 
 Board of Trade. A committee of merchants, or influential manufacturers 
 and traders, appointed in a port or inland town, to take cognizance of mat- 
 ters afl-ecting the general or special interests of trade, to memorialize the 
 government, to difl'use useful information, &c. [til the duty is paid 
 
 Bonded Goods. Imported goods deposited in a government wareliousc un- 
 
 BooK Di- iJT. A charge for goods supplied, or work and labor done, entered 
 in tlie books of a tradesnuin or professional man. 
 
 Botto:mu V Bond. A mortgage or pledge of a ship as security for the repay- 
 ment of money advanced to tlie master or owner, for the purpose of ena- 
 bling him to prosecute his voyage. If the ship be lost the lender loses the 
 whole of his money ; but if the ship arrives safely, he is to receive the mon- 
 ey lent, with the interest or premium stipulated, although it may exceed the 
 legal rate of interest. The tackle of the ship is also answerable for the 
 debt, as well as the person of the borrower. When a loan is made upon the 
 goods shipped, the borrower is said to take up money at responiUntia, as he 
 is bound personally to answer the contract. 
 
 Bourse, a name given in France, and some other parts of the continent of 
 Europe, to the money market, or stock exchange, where the merchants and 
 agents de change meet for monetary transactions. 
 
 Brokerage. The percentage, commission, or consideration paid to a person 
 termed a hrol:er, for buying or selling, and for making advances, &c. 
 
 Broker's Note. A voucher delivered by a broker to his principal, giving 
 particulars of the sale or purchase, price, &c. 
 
 Bulk. Dimensions ; the cargo of a ship when stowed. 
 
 Bull. A stock-exchange term for a jobber or dealer who has an interest in 
 the rise of the market. 
 
 Bullion. Uncoined gold or silver in the mass. 
 
 Cambist, a banker ; one well versed in exchanges and foreign moneys ; a 
 trafficker in bills. Also applied to a book descriptive of moneys, wei<^hts 
 and measures, of diflerent countries. The best known work on this subject 
 is " Tate's Cambist." •• 
 
 Capital. The net amount of property belonging to a merchant after deduct- 
 ing the debts that he is owing. This term is more strictly applied, either to 
 the sum of money which he has embarked in his business at first, or the 
 available sum he may afterwards have at command for carryino- it on 
 
 Cash Book. (See pages 1G2, 163.) " 
 
 Cast. To cant, or cast tip, means to add together. 
 
 Change. To barter ; to give one kind of money for another ; also an abbre- 
 viated mode of designating an exchange, or place where merchants and men 
 of business assemble. 
 
 Check, a Avritten order for payment to bearer (sometimes it is made paya- 
 ble to " order," in which case the party in whose favor it is drawn must in- 
 dorse it) of a specified sum of money on some bank or individual, bv a 
 depositor or person having the necessary funds or credit. — To check a book 
 or account, is to examine it and prove it correct, or make it so. 
 
 Check Book. A printed book of blank forms, for writing orders or drafts 
 on a banker, for money lodged to his credit by the drawer. 
 
 Clearance, a document from a custom-house officer, or other qualified per- 
 son, permitting a ship to depart on her voyage. 
 
 Clearing House. An establishment for the convenience of certain bank- 
 ers, where drafts, checks, bills, and accounts on each other are mutually 
 
 (153) 
 
*l 
 
 BOOK-KEEPING. 
 
 exchanged without the individual presentation of each at the banks, and a 
 balauce struck and agreed upon is settled in a few minutes with an incredi- 
 bly small amount of specie. 
 
 Coin. Pieces of metal, most commonly gold, silver, or copper, stamped by 
 authority, and in many countries made a legal tender for their respective 
 values, when not exceeding certain specified amounts. 
 
 CoMMis.siox. A charge given or undertaken ; a percentage allowed to agents 
 or iactors by their employers upou business transactions. 
 
 Company. A partnership in trade. 
 
 Composition. The commercial name for an arrangement or legal compro- 
 mise with creditors, made by a debtor who is unable to pay his liabilities in 
 full, a portion of the debt being taken in lieu of the full demand. 
 
 Consign. To send goods to an agent or factor for sale. 
 
 Consignee. Aperson who receives goods in trust, ortodisposeof for another. 
 
 CoNsous. The leading English funded government security ; a fund formed 
 by the consolidation of different annuities, and on which 3 pier cent, interest 
 is now paid. It forms the largest jwrtion of the public funds, and in it are 
 absorbed from time to time other public securities. It is that stock in which 
 are most speculation and jobbing among the dealers ; hence tlfe price at wliich 
 it stands generally regulates the rise and fall of other public securities. 
 
 Consul. The commercial representative of a state in a foreign country, 
 whose duty is to protect trade and superintend commercial transactions of 
 shippers, merchants, and others. 
 
 CORPOR.VTION. A body politic, or incorporated association, with a capital 
 formed of shares or contributions to carry on any undertaking requiring 
 large funds, such as banking, insurance, railways, manufacturing, &c. 
 
 The book-keeping of a corporation, when thoroughly understood, is quite 
 as simple as that of an individual or firjn ; the only difference being that, from 
 the more extended operations, there may be more detail. For example, we 
 will suppose that five persons, A, B, C, D, and E, desire to form a corpora- 
 tion for manufacturing purposes, the capital stock to be $100,000, consisting 
 of one thousand shares, of $100 each. A subscribes for ."iOO shares, or $30,000 ; 
 B, 250 shares ; C, 250 shares ; D, 100 shares ; E, 100 shares. This subscription 
 list is entered in the Day Book, the effect of which in posting is to debit 
 each of the subscribers with the amount of his subscription, and to credit 
 capital stock with the whole amount. The company, having obtained their 
 charter, proceed to business by making a call of twenty-five per cent, per 
 share. As these instalments are received, cash is debited, and each of the 
 partners from whom it was received are credited. Tlie business now goes 
 on the same as any private undertaking would — the buying of machinery 
 and raw material, the paying of operatives, and the selling of the article 
 produced. Eventually the whole amount of the capital stock is paid in ; 
 then tlie stockholders' accounts are ruled off and the money value given up, 
 it being represented by the cash received and the account of capital stock ; 
 the number of shares only is brought down, thus : — 
 
 Dr. 
 
 A. 
 
 Cr. 
 
 
 300 Shares 
 
 $30,000 
 
 00 
 00 
 
 
 Cash Ist Instalment 
 Do. 2d " 
 Do. 3d " 
 
 • 
 
 Shares 
 
 $7500 
 
 7500 
 
 15,000 
 
 00 
 00 
 00 
 
 
 (IM) 
 
 $.'«),000 
 
 $30,000 
 
 00 
 
 
 
 
 No. of Share*. 
 
 No. of Sharet. 
 
 
 
 
 300 
 
 
 '" 
 
 ., 
 
 .1 
 
 APPENDIX. 
 
 That is, he owns 300 shares in the capital stock of this company, whether 
 they are worth more or less than the par value. When the accounts have 
 arrived at this stage, it is usual to transfer them to a " Stock Ledger," in 
 which no other accounts are introduced. ^ 
 
 If A should sell fifty of his shares to G, the transfer would have to be 
 made through the clerk or other proper officer of the corporation, who 
 makes the record only ; he need not know any thmg about the amount of 
 consideration paid by G. The effect of this is to debit A fifty shares, 
 (leaving him 250,) and to credit G, with whom an account is now opened, 
 with fifty shares ; and so the business goes on, the profit or dividend being 
 apportioned pro rata among all the holders of the stock at the time of 
 declaring the dividend. 
 
 Coupon. An order or warrant for the payment of periodical di\'idends on 
 railway or other public stocks, bonds, or debentures. 
 
 Credit. To give credit, or to sell on credit, is to sell goods on trust; that 
 is, without requiring the person buying to pay for them at the time. In 
 book-keeping, to credit a person is to enter his name on your books, giving 
 him credit for the goods or .cash received from him. 
 
 Creditor. A person to whom another is in debt for money or goods. When 
 you receive goods from a person without paying for them at the time, he is 
 said to be your " creditor" for the amount. 
 
 Currency. Taper money and coin, established as, and passing for, the cir- 
 culating medium of a country. The following is a statement of the ordina- 
 ry currencies of the chief countries : United States, Spain, Mexico, Chili, 
 Peru, Brazil, dollars of one lumdred cents ; Great Britain, sovereigns or 
 pounds of twenty sliillings ; France, Belgium, and Switzerland, francs of 
 one hundred centimes ; Prussia, thalers of thirty silver groschen, (one 
 groschen equal to twelve pfennings ;) Austria, florins of sixty kreutzers ; 
 Kussia, roubles of one hundred kopecs ; Hamburg, marks-current of six- 
 teen shillings ; East India Company's territories, rupees of sixteen annas j 
 in the Canadian currency, £1 sterling is equal to £1 4b. 6d. 
 
 Customs. The duties or taxes imposed upon goods entering or going out of 
 the country. 
 
 DAY'S OF Grace. The period allowed by law, or custom, beyond the fixed 
 day of payment, to meet an acceptance or note. Days of grace vary in 
 almost all mercantile to^vns and countries ; but the tendency of modern 
 legislation is to abolish them altogether, — and with great propriety. Is it 
 not an absurdity for a rational man to give, and another rational man re- 
 ceive, a written document representing that in sixty or any number of days, 
 months, or at sight, the promisor will pay a given sum, when neither of 
 the parties ever intended any thing of the kind .' If there must be three 
 days more time, why not state it so at once. In the twenty years' experi- 
 ence I have had as a teacher of book-keeping, there has been no one thing 
 which has required such continued iteration, to establish it in the minds of 
 students, as this matter of days of grace. In the United States and Great 
 Britain there are three days. In France, and wherever the French code has 
 been introduced, there are no days of grace. 
 
 Debenture. The certificate given at the custom house to the exporter of 
 goods, entitling him to receive payment of the drawback allowed on goods 
 (previously imported) being exported ; a certificate of mortgage or loan on 
 railway or other public works. 
 
 Debit. To debit a person, in book-keeping, is to enter his name in your 
 books, charging him for the goods or cash he has received from you. 
 
 (15.5) 
 
I 
 
 BOOK-KEEPING. 
 
 APPENDIX. 
 
 Debtor. A persou who is in debt to another for money or goods. When a 
 person receives goods from you without paying for them at the time, he is 
 said to be your '• debtor " for tlic amouut. 
 
 Del Ckedeue. Au Italian commercial term, implying a guarantee for the 
 solvency of a purcliaser. 
 
 Discount. See AitATE>tENT. Also Commercial Computations, page 117. 
 
 Dividend. When a person becomes unable to pay his debts, and makes a 
 composition with his creditors, he may agree to pay them seventy-five cents 
 on the dollar, in three equal instalments, at intervals of two or three 
 mouths. Each of these payments is termed a " dividend." This term is also 
 applied to the profits divided among the proprietors of railway and other 
 companies. 
 
 Draft. A check or order for money on a banker or other person, on demand 
 or at a specified time, and is usually negotiable by indorsement the same as 
 a promissory note. — See form at the beginning of tliis book. 
 
 Due Bill, or Loan Note. An acknowledgment of indebtedness, and a 
 jiromise to pay to the particular party named. It is not, therefore, negotia- 
 ble. — See form at the beginning of this book. 
 
 Dutch Auction. In common auction, the highest bidder by competition is 
 the purchaser ; but according to the process of sale called Dutch auction, 
 the article is put up at a certain nominal price, which is gradually lowered ; 
 and the first who speaks and offers the sum mentioned by the auctioneer is 
 at once proclaimed the purchaser. 
 
 Entry. The record made in a merchant's book of any business transaction ; 
 the lodgment of a ship's papers in the custom house on arrival, when per- 
 mission to land cargo is obtained. 
 
 Exchange. The balance of money of different countries, each of which has 
 a certain regulated par of excliaiige j a place of public resort, in commer- 
 cial cities, where merchants meet to transact business ; the bartering of one 
 commodity for another. — See Commercial Computations. 
 
 Executor. A person appointed by the testator to administer to his estate, to 
 carry into force the appropriations of his will and testament, after his decease. 
 
 Exports. Goods, wares, or manufactures transmitted abroad. 
 
 Failure. A commercial term for the suspension of payment. 
 
 Firm. A copartnership ; a house of business ; the abbreviated title under 
 which a trade is conducted, or a body of partners is known. 
 
 Folio. A word frequently used instead of page in mercantile books. 
 
 Forwarding House. Forwarding merchants. Parties who attend to the 
 receipt and transmission of meroliandlse and produce, by railways and ca- 
 nals, from the interior to the coast, or to market towns, and vice versa. 
 
 Gross. In merchandise the whole weight of goods, including box, package, 
 baling, &c. ; the number of twelve dozen, wliich is the small gross ; the 
 great gross is twelve times twelve dozen. 
 
 Guaranty, Guarantee. An engagement to perform some act, or pay some 
 debt, in case another person primarily liable fails to do so. 
 
 Importer. One who receives goods, produce, manufactures, or merchan- 
 dise from abroad. 
 
 Indorser. One who writes his name on the back of a promissory note, or 
 bill of exchange, and thus makes himself responsible for its payment. 
 
 (156) 
 
 
 Indorsements are either general, special, or restrictive. A general in- 
 dorsement, or, as it is termed, an " indorsement in blank," is merely writing 
 tiie name without any other words. A special indorsement is making it 
 over to some special person, as, *' Pay to tlie order of the casliier of tho 
 Bank of Commerce," with the name. Then the cashier would have to in- 
 dorse the paper, and he could either do it in blank by merely writing his 
 name, or specially by making it payable to the order of some one else, or 
 to some individual only ; in which latter case it would be a restrictive in- 
 dorsement, restraining the negotiability or transferability of the paper. 
 
 It has become a common custom with some merchants to have their notes 
 made payable to the purchaser's own order, who has therefore both to sign 
 and indorse the paper ; the object of this being to enable the merchant to 
 dispose of the paper without having to put his own name upon it. Where 
 an indorser does not wish to be held responsible, he writes before his name 
 the words " without recourse to me ; " but the very fact of such an indorse- 
 ment is calculated to throw doubt upon the paper, and to avoid this, the note 
 is made payable to the signer's own order. 
 
 Insolvent. Incompetent to pay all just demands ; in pecuniary difUculties. 
 
 Insurance. A contract by which certain persons or insurance offices engage 
 to make good to the party insuring, any loss he may sustain of ships or 
 their cargoes at sea, or of houses or goods by fire. The parties who take 
 upon themselves the risk are called the insurers, or underwriters ; the per- 
 son protected is called the insured ; the sum paid to the insurers is called 
 the liremium ; and the paper on which the contract is written is called the 
 policy of insurance. 
 
 The books of a stock insurance company are kept upon the same general 
 principles as those of any other corporation. 
 
 The books of a mutual insurance company — that is, an association wliere 
 the members mutually insure each other, sharing the risk and the profit 
 among themselves — require to be kept with great nicety of discrimination, 
 in order to do exact justice to all the members. In my capacity of account- 
 ant I have frequently been called upon to examine, advise, and in some iu- 
 Btanccs wind up, the affairs of mutual insurance companies ; and the result 
 of my investigations confirms the belief that the mode of doing business 
 in the large majority of cases is any thing but mutual. I am satisfied that 
 there are not a dozen mutual insurance companies in New Engljxnd whose 
 books would bear critical examination for either accuracy or equity. The 
 "State," and the " Mechanics' Mutual" offices of Boston, and a few others, 
 are honorable exceptions. 
 
 Where cash and deposit notes are taken, they are each debited, and an 
 account opened with the "month" in which they were received, which is 
 credited for the amount ; so that a new account would have to be opened 
 for every month, beginning with the first and continuing as long as the 
 oflSce continues to issue policies and receive premiums. 
 
 As mutual offices insure for terms of from one to seven years, it follows 
 that after the first seven years the account of one month is every month 
 thereafter falling out and being balanced up. The expenses of the office 
 are periodically charged off to each of the months having a credit pro rata 
 to the amount of such credit. Any losses which may occur are also 
 charged off to the months in the same way. For example, suppose that in 
 the month of January, 1853, there was received in cash and deposit notes 
 $1000, which was credited to the account of "January, 1853;" that from 
 time to time there has been charged to that month for expenses, losses, pol- 
 icies expired and cancelled, in the whole, $487 ; it will be seen that in the 
 14 (157) 
 
I 
 
 BOOK-KEEPING. 
 
 month of January, 1860, all the policies will have expired, and that there Is 
 a dividend of $513 to be apportioned ;>ro rata among, and returned to, those 
 members having policies (gniuted in January, 185:}) at the end of December, 
 1859. 
 
 One great advantage by this plan is, that whenever a member wishes to 
 surrender his policy, its exact value can be ascertained at once. The whole 
 of the policies issued in any one month being at all times during their ex- 
 istence worth exactly the same per cent, of their amount. 
 
 Interest. A right or share in a business or undertaking ; use of money.— 
 See Commercial Computations. 
 
 Invoice. A bill of parcels containing particulars of quality, quantity, and 
 price of goods remitted to an agent or factor for sale, or on approval. 
 
 EXAMPLE. 
 
 Invoice of 21 Cases Merchandise, marked and numbered as per margin, shipped 
 on board the Caledonia, Capt. Lott, by Ja>ies Chadwick, Manchester, on 
 account and risk of George N. Comer, Boston. 
 
 J 
 
 GNC 
 C 
 
 ♦ 
 39S59 
 
 250 pieces Long Cloth @ 11/ 
 220 " 72 Shirtings 13/ 
 300 " f Cambrics 7/ 
 900 " I^Jacconets 9/6 
 
 rhnrjrps. 
 
 Entry and Dues 2/, Bill Lading 1/6 
 
 Carriage, Porterage, Cartage, &c. 
 
 Insurance on £850 @ 21/6 
 
 Policy 
 
 Forwarding .'^2/0, Portage 3/6 
 
 Commission 
 
 To be paid in Boston at $4.84 per £. 
 
 E. and 0. E. Manchester, 4th Feb., 18—. 
 
 £ 
 
 137 
 143 
 105 
 
 427 
 
 10 
 9 
 
 1 
 1 
 
 B. 
 
 10 
 
 
 
 10 
 
 3 
 2 
 2 
 5 
 16 
 1 
 
 d.| 
 
 
 
 
 
 
 £ 
 
 6 
 9 
 
 
 
 6 
 
 1 
 
 £ 
 
 813 
 
 22 
 835 
 
 
 
 11 
 11 
 
 
 
 3 
 3 
 
 Invoice Book. The book in whicli are copied the originals of bills and in- 
 voices of merchandise purchased or received. — See form, page 118. 
 
 Lease. To let for a term upon rental. 
 
 Legal Tender. Tlie authorized coins or payment that can be lawfully 
 offered and received in a country. A legal tender must be for the exaci 
 amount in cash ; tendering a larger sum, with a request for change back, 
 is not a legal tender. Tn Franco, silver is the legal tender. In the United 
 States, gold and silver ; but a person cannot be compelled to receive more 
 than five dollars in value of either half or quarter dollars, or ten or five cent 
 pieces, nor more than thirty cents of three cent pieces, or twenty-five cents 
 in coppers. 
 
 Lessee. One to whom a lease is given. 
 
 Letter of Atforney. A power or legal authority to act for another, and 
 to proceed with his affairs. The power may be special for a particular pur- 
 pose, or general. 
 
 (158) 
 
 t 
 
 » 
 
 J 
 
 APPENDIX. 
 
 T tr^Tv-T. OF credit a letter or order sent by one merchant or banker to 
 Letter of <^redii. a ii^n-^i v.^„-,,r of the letter a certain sum 
 
 :Ss,in^rSfarc^^irLrsr;^s::^ 
 
 X ^^f ^^l^l^'^^^^y^a^mci;: ^^a to relatives or creditors, after 
 
 LIFE A.^LUANCE ^^^^^^ !^'/ .,„,i^,^ p^id during life to an assurance 
 
 X'vivintup/rcenlS amount according to age, health, or risk of 
 
 office, varying m P^"^*^" -= . ascertaining the expectation of hie, ac- 
 
 accidental death. A fl^"^" 5"*V K^.f ^« to tike the a-e from the number 
 
 /.<^,.Hino• tn the Northampton tables, is to taKC tuc a^t. nui" " 
 
 cording to mc Dunuaini^ x"\\up of a nolicv is generally 
 
 Uot™.VT.o* An Hrrangemcnt or settlement of the affairs of a merchant or 
 
 ^Zfr ;rrn'ir:Xe''o''ra'Sof rrrLoodon, nsea .. the society 
 
 ^^■^^^L^^rtf Marine in^re^^ 
 only a centre pomtm the met^^^^^^^ ^ ,^ ,.^^ 
 
 the place to «lch <^'f ^ ^P":™' ° 4. ^<,Vu information is exhibited in 
 warded from all P^f'^f^f^^HonTUc lists made up and exlublt^d at 
 one of the r»oms or pnbhc J^P;« ""^'./^'^i.^^ibers and the pnblic, famish 
 ^Si'ctk';mSrforthrn's:';r merchants and shippers of goods all 
 
 over the world. 
 MANIFEST. A document containing a speciflc description of a rt^^ wttha "»« 
 of the names of the passengers, and of the packages, &c., forming her cargo. 
 
 Ill- p?orr/"rrurrsrwMrg":s:- produce a«er ^..r 
 
 of goods and packages. 
 O.O.HS. An order .a ^;^-J^ -:^2::S^^:^.:^, 
 
 Lro;^trs;tafn\rm";ct.ds~^ 
 
 i::hr;^hreTr«™Wei-" ?:r^^'^r;r received;- "amt.," for 
 «' amount ; " " rec'd," for " received," &c. » 
 
 --ner\t:;;r^s-:nrSctr"r^^^^^^^ 
 
 Ei^:''^:^^:^':::^^ .o carry on 
 
 a business, they are said to be in partnership. Commercial Com- 
 
 Percentage. a rate or commission per hundred. -See Commercial i.om 
 
 PETT?' cTsH BOOK. A book for entering small receipts and Payments -hich 
 are tranXred to the " Cash Book," either daily, weekly, or monthly, ac- 
 
 P^Jcv.' T\f cTrSfilrLued to an insurer by a Ufe, fire, or marine insur- 
 
 Prfmium''"a rate paid for insurance ; something given to invite a loan or 
 bargin; an advance paid by purchasers of stock, shares, exchange, &c. 
 
 above the par price. 
 
 (150) 
 
! 
 
 BOOK-KEEPING. 
 ^nler^SSrj^.t.^rtc^''"' "" "' «>» '-ta-" ™r.et price, of t,e d., f„, 
 cargoes. "'"^ ""HBtancc In loaUiDj an^ imloadin.^ 
 
 « foreign „ge„, or r^tXnjrrilr '?; '» «■"-"»» »«"" 
 pledge Its credit and authority, ,vhici^ i, cSIhT'^ '° "S" «"■ ' a™. »r to 
 
 Pko foajiA. For the sate of form <*"»<' J"-oc«ro<i„». 
 
 Pko.missORT NotF a not 
 
 g»gement in writing to pay a defi^^*'"™"'"'^"" i-dobtednesB ; an en- 
 
 therein named, or to his order ort «,e f^:'' " ° "°"' '•"■"»«'. to a irson 
 
 ^^.^^..ade assignahie and ^^r^l^^l^^:^^-^^ 
 
 having been ™'l:.:d"-SVorr.Ute ^"^'" ™"""« »f™°"e70r 
 Keclamatii.x. Demand '*^"""''S of this boolt. 
 
 K."'S!-^?o rutTararuT.."^ ^"'"" '-»'««'• 
 
 Sales Book. - See form, pa-e 74. 
 
 f ^"'A''''''''\ ^° inventory or rat«lo^e 
 
 'mZ^y. *'«""'° '--'■■ — coiu. or hnliion, .. opposed to p.pe, 
 
 ^^r^- ^" "^"■" ™-<-od. dot«-,s or explanatory particular, fur- 
 Statute of Lnrir vtiovq i« „» • 
 
 l^K. 's';;r.L\xr;to?^-™-'-'--<'"< -capita.. 
 
 Ta-Vtlrr '■""""• ^ ^''-"'-' --'-"on and inventory of goods, or stock 
 STOR.VOE. A charge for warehousing goods. 
 
 ^c,?., ofottrp^r^,'^^ ri:rgr,Trr'°""-f°^ «•= -'»"'■« °f « •».. 
 
 .on.of-,;argo:r:rL"™'Tonn"°[s'."^''''rr"'°''"^'''^»™^-f 
 
 more generally by weio^ht a tolh^f It ';""""'"■<' sometimes by bulk, but 
 ton by weight'^ei,,,i„"fi\'°„V,JJ>"^ktaMge,,,«,,o« cubic fee,, and . 
 
 employed by ship-builders, wherebv 7hll^' ? """ "'""'" formula! 
 
 ength, breadth, and dcpth'„7,he ^es el ■ b,rf "/»'""•""' from the 
 
 the real tonnage, or the tn.e .mounTr^^VS T^.tr^^rjZ". 
 
 (160) ' ' 
 
 . 
 
 APPENDIX. 
 
 because two vessels exactly equal in length, breadth, and depth, measured 
 as those dimensions usually are, may have very different internal capacity, 
 owing to different curvatures of the hull. A ship will sometimes carry 
 more than her registered tonnage indicates, sometimes less ; and therefore 
 the word " tonnage " is to be regarded only as a rough approximation to 
 the burden which the vessel will carry. 
 
 TuADE Sale. A special auction or sale of articles suited to particular classes 
 of dealers. 
 
 Truss. A small hand-packed bundle of dry goods, the outer covering being 
 frequently of canvas. Packages of hay and straw compressed and roped, or 
 hooped, are called trusses. 
 
 Trustee. One appointed to act for another, as in the case of an agent for 
 infants' property; or one deputed to act for the general benefit of cred- 
 itors, &c. 
 
 Ullage. What remains in a cask after a portion is gone ; a cask only 
 
 part full. 
 Underwriter. One who takes a risk or share in marine insurance, writing 
 
 his name on the policy of insurance as answerable for a certain amount in 
 
 case of loss, upon receipt of an agreed rate of premium. 
 
 Voucher. An acquittance or receipt, discharging a person, or being evi- 
 dence of payment. 
 
 Wharfage. The charge paid on goods to the owner or occupier of a 
 wharf. 
 
 14* 
 
 (161) 
 
BOOK-KEEPING. 
 
 CASH 
 
 There are several different styles of Cash Books. The following example is 
 a lar^e business, the dates bcin- placed in tlie centre of the pa<je. In the pre 
 the form shown here would have been incouvcnient, owing to the small num 
 
 In this example is also shown a convenient method of balancmg the Cash 
 
 Cash Received. 
 
 ■ 
 
 I 
 
 i! 
 
 I 
 
 
 Ut January, 18— 
 
 On hand 
 
 Samuel Jones 
 
 James Ure 
 
 Sales of Merchandise 
 
 Edward Edwards 
 
 Richard Reid 
 
 Sales of Merchandise 
 
 31st. . 
 
 DiBCOUDt 
 
 William Bruce 
 
 Merchandise 
 
 Miscellaneous 
 
 Total 
 
 25 
 
 00 
 
 14 00 
 
 Ud3e. 
 
 575 
 
 620 
 
 00 
 
 00 
 
 UiBcel's. 
 
 1195 
 
 00 
 
 475 
 C31 
 
 Balance. 
 
 546 
 323 
 
 OOi 
 
 2725 
 
 The Itemi of IHtoount «r« posted to the credit of the partiet 
 M the time, and to the debit of DiMount in one amount at 
 the end of the month. 
 
 39,00 
 
 750 
 
 00 
 00 
 
 00 
 
 00 
 
 550 00 
 
 3920 00 
 
 4470 
 
 00 
 
 The cash on hand is noted every day as above ; but the sum is not extended 
 balanced for the month. 
 
 (162) 
 
 APPENDIX. 
 
 BOOK. 
 
 given to show the form (or some modification of it) recommended to be used in 
 ceding Cash Book, pages 28 and 33, the dates are placed on the margin, as 
 ber of entries on each day. 
 Book daily. 
 
 Cash Paid. 
 
 Ledger 
 Page. 
 
 1st January, 18— 
 David Green, rent 
 
 DiscouDt 
 
 Mdse. 
 
 t 
 Expense 
 
 Misccl's. 
 
 
 
 
 
 
 500 
 
 00 
 
 
 
 N. Allen 
 
 36 00 
 
 
 
 
 
 564 00 
 
 
 Thomas Hall 
 
 
 
 
 
 
 
 300 
 
 00 
 
 
 Mdse, bought 
 
 
 
 416 
 
 00 
 
 
 
 
 
 
 Received 2231.00 
 
 
 
 
 
 
 
 
 
 
 Paid 1780.00 
 
 
 
 
 
 
 
 
 
 
 On hand 451,00 
 
 
 
 
 
 
 
 
 
 
 9^ 
 
 
 
 
 
 
 
 1500 
 
 
 
 Merchants Bank, deposited 
 
 00 
 
 
 Received 1940.00 
 
 
 
 
 
 
 
 
 
 
 Paid 1500.00 
 
 
 
 
 
 
 
 
 
 
 On hand 440.00 
 
 
 
 
 
 
 
 
 
 
 .^iKt. 
 
 
 
 500 
 
 00 
 
 
 
 
 
 
 Merchandise bought 
 
 
 
 Miscellaneous 
 
 
 
 
 
 
 
 23G4 
 
 00 
 
 
 Expense 
 
 
 
 
 
 500 
 
 00 
 
 500 
 
 00 
 
 
 Merchandise 
 
 
 
 916 
 
 00 
 
 
 
 916 
 
 00 
 
 
 Total 
 
 
 
 
 
 
 
 3780 00 
 
 - 
 
 On hand 
 
 
 
 
 
 
 
 690 
 
 00 
 
 
 The item* of Diieount are posted to the debit of the parties 
 at tbe time, and to the credit of Discount in one amount at 
 the end of the month. 
 
 36 
 
 00 
 
 
 
 
 
 44W) 
 
 00 
 
 to the money columns till the end of the month, when the Cash Book is finally 
 
 (163) 
 
BOOK-KEEPING. 
 
 J 
 
 I 
 
 ON MAKING AND RECEIVING BANK DEPOSITS. 
 
 COPY OF A CIRCULAR 
 
 ADDRESSED TO THE MERCHANTS AND BANKING CORPORATIONS 
 OF BOSTON, BY MR. COMER, IN 1853. 
 
 No. 139 Washington Street, Boston, 
 1st Jantuxry, 1853. 
 To the Merchavts of Boston. Gentlemen : T have long- witnessed, with sur- 
 prise and rc'jret, tlie extremely loose, unsafe, and unsatisfactory mode of making 
 and receivinj,' deposits of money by the merchants and banking corporations 
 of this city. For several years past I have devoted myself to the business 
 of an accountant, nnd have endeavored, in its practice, to improve the condition 
 and remove tempt.itiou from all classes of clerks. I now respectfully beg leave 
 to point out to you some of the evils of the present system, in the hopes of 
 inducing a bettor. 
 
 For examph- : The Book-keeper, or some other clerk, the porter or boy, in 
 a mercantile estaMisIiment, delivers the deposit at the Bank, — the Receiving 
 Teller merely putting down the date and amount on the small pass-book. Here 
 are avenues oi)on to fraud. 
 
 The Clerk, timptation being put in hia way, might easily imitate the figures 
 Of the Receiving Teller, and, putting tlie money in his own pocket, await the 
 tUnotcement, wliich might not occur for several days, — and tlien, boldly 
 asserting that lie had made the deposit, miglit even produce an innocent wit- 
 ness, who saw him in the Bank at that time. His word would be as good as 
 the Teller's. It is more difficult to prove a negative than an affirmative. 
 
 On the other hand, a needy Teller might receive the deposit, make a slight 
 variation in his figures upon the pass book, put the money in his own pocket, 
 and eventually deny the receipt. In either case, two parties would be open to 
 suspicion, and, if it were adroitly managed, the rogue would be as likely to 
 escape as the victim. 
 
 Very frequently, foreign money, in a separate package, is part of the deposit, 
 which is often thrown into the drawer by the Receiving Teller without count- 
 ing, thus opening temptation to the merchant's and the bank clerk either to 
 abstract or exchange bills. Where the responsibility would rest in such an 
 event, the amount deposited having been entered on the pass book, is a subject 
 for reflection. 
 
 (164) 
 
 APPENDIX. 
 
 At the end of each month, the merchant's pass book, containing the only 
 evidence of his having made any depoisit whatever, is left at the Bank " to be 
 made up ; " and when so made up, the checks drawn by the merchant during 
 the month, many of which have been made payable to order, are placed in the 
 pass book, which is then ready for the first person who represents that the 
 merchant sent him for it. A boy out of the street has been known, at request, 
 
 to go into a bank for Mr. 's book, and receive it, unquestioned, with 
 
 all the checks for the month, — the indorsement of those to order, perhaps, 
 being the only evidence the merchant has of having made any such payment. 
 
 What I propose as a remedy for a part of this evil is, that a blank form of 
 receipt should be prepared ; a certain number of these receipts should be signed 
 by the Cashier and handed to the Receiving Teller each morning, when, upon 
 receipt of the deposit, all the Teller would have to do would be to write on the 
 prepared blank the name of the depositor, date, and amount ; this would then 
 be handed to the deliverer of the deposit, as his evidence of the transaction. 
 At the end of the month, the merchant would send all these receipts to the 
 Bank, receiving in exchange his checks and a new receipt for the balance 
 remaining on hand. Or, if preferable, the merchant's book-keeper, or the 
 person making up the deposit, might fill out a corresponding receipt for the 
 Receiving Teller to sign. These receipts might be bound in a book, if desirable. 
 I do not pretend to offer the precise mode or form of doing this, but merely 
 throw out the suggestion for your consideration, believing the subject to be 
 one of such importance to the mercantile community as to excuse the liberty 
 I have taken in thus addressing you. 
 
 I am, Gentlemen, very respectfully, 
 
 Your obedient servant, 
 
 GEORGE N. COMKK. 
 (165^ 
 
 m 
 
TABLE OF FOREIGN MONEYS. 
 
 DENOMIXATIOX. 
 
 PARTS. 
 
 VALUE. 
 
 « 
 
 Dollar of Chili, 100 truts, i.oo 
 
 Central Aniorioa, 8 reals, 10 cuarto:-, 1.00 
 
 Denmark, 4c< styver, 4 ^killing, 1.05 
 
 Mexico, S realh, 10 fuartOK, 1.00 
 
 " Norway, 5 ort, 21 Bkilliiiir, 1.06 
 
 '*Peru, 8 reals, 10 ciuirtos, 1.00 
 
 ' Porto llico, 100 cents, 92 
 
 ' Kome, lOpaoli, 1.05 
 
 ' Sicily, 12 tari, 96 
 
 ' Spain, 8 reals, 10 cuartos, 1.00 
 
 ' Sweden, 48 skilling, 12 runstycka, . . . 1.06 
 
 ' Venezuela, loO cents, 75 
 
 Ducat of Naples, 100 graui, 80 
 
 Florin, silver, of Austria, 00 kreutzcrs, 4 pfennin<fs, . . . .48^ 
 
 " Gennany, So. States, 00 " 4 " ... .40 
 
 " Netherlands, .... 100 centimes, 40 
 
 " " " Prussia, 30 groschen, 18 pfennings, . . . .23 
 
 Franc of France and Belgium, 100 centimes, 18 6-10 
 
 Francescoue of Tuscany, lo paoli, 1.06 
 
 Guilder of Curacoa, Demerara, 
 Essequibo, and Surinam, 
 
 Lira of Sardinia, 100 contesimi, i« o-lO 
 
 " " Tuscany, 20 soldi, 12 denari, 10 
 
 Livre of Genoa, 20 " 12 " 18 6-10 
 
 " " Leghorn, 20 " 12 " IS 
 
 Marc Banco of Himxburg, 10 skillings, 12 pfenning, ... .35 
 
 
 > ... 10) centimes, 37 
 
 .28 
 
 .mi 
 
 .52 
 1.00 
 1.12 
 
 " Current of " 10 " 12 " 
 
 Mill Kea of Azores, 1000 reis, 
 
 " " " Brazil, 1000 " 
 
 " " " Madeira, 1000 " 
 
 « it «i Portugal 1000 " 
 
 Ounce of Sicily, 30 tari, 20 grani, 2.40 
 
 Pagoda of India, 1.94 
 
 " star, of Madras, 42 fanams, 80 cash, \.M 
 
 Pound of Great Britain, 20 shillings, 12 pence, 4.84 
 
 20 «' 12 " ... .4.00 
 
 „ ( Nova Scotia. N.Brunswick. 
 
 :l 
 
 ewfoimdland & Canadas, 
 
 Real, plate, of Spiiin, 34 maravedis, i0 
 
 Rix Dollar of Batavia, 48 stivers, 75 
 
 " " " Berlin, 30 groschen, 12 pfennings, . . . .69 
 
 " " " Bremen, 72 grotes, 5 swares, 783 
 
 '* " Banco of Sweden, 48 skillings, 12 runstycks, . . . .39J 
 
 " " " " Norway, 6 marks, 10 skilling, 39J 
 
 " Thaler of Bremen, 72 grotes, 5 swares, 78J 
 
 Rouble, silver, of Russia, 100 kopecks, 75 
 
 " paper, " " 100 " 3^ to 1 silver. 
 
 Rupee of British India, 10 annas, 12 pice, 44J 
 
 Scudi of Sicily, 12 tari, 1.00 
 
 Tael of China, 10 mace, 100 candareens 1.48 
 
 (166) 
 
 ■-f 
 
 QUESTIONS FOR PRACTICE. 
 
 A, in Boston, sent to B, in Chicago, merchandise to the amount of ten thou- 
 sand dollars, to be sold on joint account. B advises that he has sold to a prolit 
 of two thousand dollars, and that he has forwarded to A merchandise to the 
 amount of fifteen thousand dollars, to be sold on joiut account. A pays cash 
 for Ireight, and other expenses, twenty-five hundred dollars, but finding tliat 
 he cannot sell to advantage in Boston, with B's consent ships the whole to C, 
 in Havana, to be sold on joint account — that is, C is to have one third interest 
 in the adventure. He advises A that he has sold to a loss of tliree thousand 
 dollars. What are all the entries ? 
 
 SMALL PROFITS AND LARGE SALES. 
 THE NIMBLE SIXPENCE. 
 
 A man borrowed $6000 to commence business with, agreeing to pay interest 
 at the rate of per cent, per annum, payable monthly, that is, $30 per month. 
 His store rent and other expenses amounted to $270 per month additional. 
 He purchased his goods on six months' credit, but invariably paid cash, re- 
 ceiving 5 per cent, discount. He sold his goods at 5 per cent, advance of the 
 invoice price, and cleared out his entire stock and re-invested the proceeds 
 every month. At the end of the year he ^aid back the principal, $0000. 
 What profit did he make ? Ans. $7318.80. 
 
 LIQUOR AGENCY ACCOUNT. 
 
 The selectmen of a certain town appointed a liquor agent, and furnished him 
 with liquor to the amount of $8'->5.00, and cash $215. The agent received cash 
 for liquor sold $1323.40. He paid for liquor bought $937 ; to the town treas- 
 urer $300 ; sundry expenses, $29 } his own salary, $205 ; he delivered to in- 
 digent persons, by order of the town, liquor to the amount of $13.50. Upon 
 taking stock at the end of the year, the liquor on hand amounted to $010.50. 
 Did the town gain or lose by the agency .'' and how much.' 
 Has the agent any money in his hands belonging to the town, or does the 
 town owe the agent ? and how much in cither case .' 
 
 Ans. The town lost $103.20. 
 
 The agent owes the town 7.40. 
 
 Agreeably to your request, Messrs. S. & Co., of Canton, collect and ship to 
 you, by the Guiding Star, copper cash to the value of $118.33, for which they 
 draw on Messrs. Baring Bros. & Co., London, a draft on your account for 
 £2904, — a draft on London of that amount being equal to $118.33 at Canton. 
 Messrs. Baring Bros. & Co, charge you commissions, &c., amounting to £56, 
 making their claim against you £2960, to meet which you purchase of Messrs. 
 J. E. Thayer & Brother a draft on London for £29no, giving them in payment 
 T. & Co.'s acceptance of your draft at six mouths, for $15535, which they dis- 
 count at 1^ per cent, per month. What are all the entries ? 
 
 (167) 
 
lit 
 
 I 
 
 I 
 
 CARD. 
 
 COMER'S COMMERCIAL COLLEGE, 
 
 Cranite BuilJinj, corner of Wasliin^ton and School Streels, Boston, 
 
 (Founded by G. N. Comer, a. d. 1840,) 
 
 Offers peculiar facilities for preparing young men for Mercantile, 
 Engineering, or Seafaring life, — not the mere sclioolboy theories of 
 the academies, but such practical knowledge as will enable the graduate 
 to put his acquirements into immediate operation with confidence. 
 
 There being no class si/stem, students may enter at any time ; and 
 those who desire it are aided in obtaining suitable employment. 
 
 A separate department is provided for Ladies, who receive in- 
 struction from the principals, the lady superintendent, and the other 
 teachers. 
 
 Xearlt/ all the lady book-keepers in the city and vicinity, as also 
 hundreds of the most expert pe?imen and accountants, have been prepared 
 for and placed in their present sitxiations by the principals of this insti- 
 tution, which, under its present (1861) management, has been unin- 
 terruptedly and successfully 'conducted for twenty years past. 
 
 A thorough knowledge of Book-Keepino may be acquired in 
 from one to three months' study, dependent upon the degree of pre- 
 vious preparation, application, and tact brought to bear upon it. 
 
 Practical Navigation may be acquired in from two to ten weeks. 
 
 Officers, and others, already competent, may receive certificates 
 of their qualifications as Navigators, upon presenting themselves for 
 examination at this institution, which is under the direct patronage 
 of the Marine Insurance Companies and the Merchant Ship-owners 
 of Boston. 
 
 The best Instruments, Charts, &c., are provided free. 
 
 For the convenience of those occupied during the day, there are 
 Evening Sessions between the first of September and the first of May. 
 Full particulars are given in the Annual Catalogue and Circular of 
 Terms, which may be had at the College Office, No. 139 Washington 
 St., Boston, or, upon request, will be sent by mail, free. 
 
 Mr. Comer may be consulted in relation to all matters of account. 
 Particular attention is given to Office Business, — the Opening, 
 Posting, and Closing of Books, the Examination and Adjustment 
 of Complicated Accounts, settling Controversies in relation to De- 
 ceased, Insolvent, and other Estates. 
 
 GEORGE N. COMER, ) 
 OLIVER E. LINTON, ^ PaiNciPALS. 
 (108) 
 
I 
 
 1/ 
 
 /y^^H oao'as 
 
 NEH 
 
 MAV2 41994) 
 
 COLUMBIA UNIVERSITY LIBRARIES 
 
 0041419545 
 
 JUL 4 1945 
 
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END OF 
 TITLE