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The Columbia University Libraries reserve the right to refuse to accept a copying order if, in its judgement, fulfillment of the order would involve violation of the copyright law. Author: Crittenden, Samuel Worcester Title: An inductive and practical treatise on bookkeeping... Place: Philadelphia Date: 1856 COLUMBIA UNIVERSITY LIBRARIES PRESERVATION DIVISION BIBLIOGRAPHIC MICROFORM TARGET MASTER NEGATIVE # ORIGINAL MATERIAL AS FILMED - EXISTING BIBLIOGRAPHIC RECORD 420 C863' MONTGOMERY Crittondon, Sainuol Worcester An inductive and practical treatise on book- keeping by ^single and double entry, designed for coinmoroial institutes, private students, and prac- tical accountants: containining ^l^ four sets of books by single entry, and six sets by double en^ try. Also, a set of steamboat books | practical forms for keeping books, calculated to save labor in the various branches of business; connaercial calculations! a table of foreign coins and moneys of account, etc. B^S. V^ Crittenden ••• Phila- delphia, Diddle, ^^1856« 288 p. forms. 2^^m« ' t RESTRICTIONS ON USE: TECHNICAL MICROFORM DATA FILM SIZE: ^^Vu^ REDUCTION RATIO: Y^^ IMAGE PLACEMENT: lA (hA) IB IIB DATE FILMED: 11:~2- ' -^ V INITIALS: M TRACKING # : ft\4fj Q3S77 FILMED BY PRESERVATION RESOURCES. BETHLEHEM. PA. (O .^ > CD O a m 'n CD O O CO X -< ^'V. 'V:^! a? or 3 3 a- o > li CJl OOM ^: e' ^>^ '•V en 3 3 > o m (D CD < N M o- 3 3 en 3 3 11 Si to » o 3 3 .:9HH Colmntria (Hnitimftp THE LIBRARIES AN INDUCTIVE AND PRACTICAL TREATISE OH BOOK-KEEPING BY [NGLE AND DOUBLE ENTRY, DKSioNSD roa COMMERCIAL INSTITUTES, PRIVATE STUDENTS, AND PRACTICAL ACCOUNTANTS: OONTAINIMINa FOUR SETS OF BOOKS BY SINGLE ENTRY, AND SIX SETS BY DOUBLE ENTRY. ALSO, tt 0f ^temkat ^0ilfe$; PRACTICAL FORMS FOR KEEPING BOOKS. CALCULATED TO SAVE LABOB IN THE VAKIOUS BRANCHES OP BUSINESS; f COMMERCIAL CALCULATIONS; A TABLE OF FOfiEIGK COINS AND MONETS OF ACCOUBT, ETC. BY S. W. CRITTENDEN, Accountant, AOTBM or AM ''lin>UCIITB UKD PRACTICAL TKBAnSX ON BOOK-KXEFTNa," HXGH-SCHOOL XDRIOZr, ASh OW ** AM XKXATISI 05 BOOK-UXPINO, YOK OOKliON SCHOOLB." I] PHILADELPHIA: E. C. & J. BIDDLE, No. 8 MINOR STREET, {Bdwem Marktt and Chutnuly and I\fth and Sixth SU.) 1856. (^ ^LAJUUUbU {^hiATvJXtn^AJUif^ \ I Entered according to act of Congresa, in the year 1853. bv 8. W. CRITTENDEN, in tb4 Clerk's Office of the Diatrict Court of the Eastern District of PennsylTaoia. 3 ^"lo ffTKaiOTTPEO BT L. J0HN80N AMD Ca PHILADELPHIA. Primed by T. K A. P. Q. Collini. 'if,i CONTENTS. Pekfaci . ,. M Brief Plan of thk Work VOGABULABT OF AbBRKTIATIONS, ChARAOTBES, AND MERCANTILE TeRMS. 8fngfc (£ntn). r Introduction Set I, Business of a Painter and Glazier. Explanatorj Remarks Instructions for writing up m.... Cash-Book : Day-Book Leger Deductions Questions for Review Set II, Business of a Cabinet Maker — Partnership. Explanatory Keroarks Instructions for writing up Cash-Book Day-Book Alphabet or Index Leger Deductions Questions for Review Bet III, Business of a Farmer. Explanatory Remarks and Instructions for writing up History and Elucidations Farm Account Inventory-Book Deductions Questions for Review 6et IV, Business of a Blacksmith. Explanatory Remarks Leger, used as a book of original entry Introduction BouOfc Ciitrq. ITALIAN METHOD. Set I, Cloths and Cassimeres — Gaining Business. Explanatory Remarks and Instructions for writing up Dny-Book Journal, with Elucidations ^ Leger Full Explanation of the method of Posting and Closing the Leger, with Trial Balances and Inventory-Book Statements showing the result of the Business Questions for Review Set II, Boots and Shoes — Losing Business — Closing Insolvent. Instructions for writing up Day-Book Elucidations for Journalizing Trial Balances and Inventory-Book Statements showing the result of the Business Questions for Review Set III, Continuation of Set 11— Commencing Insolvent — Closing with Net Capital. Day-Book , Elucidations for Journalizing « Trial Balance and Inventory-Book Statements showing the result of the Business Questions for Review General Remarks DAY-BOOK IN JOURNAL FORM. Set IV, Dealing in Real Estate^ Stocks, 3^e. — Gaining Business — two Partners, investing equal amouras of Net Capital — Gains shared equally. Explanatory Remarks and Instructions for writing up History and Elucidations Day-Book Leger 3 PAQI 6, 6 7.8 9—12 U 16, 17 17,18 19 20, 21 22,23 24 25,26 28 29 30, 31 32—34 35 36—38 39 40 42,48 44—49 50, 51 52 53 54 55 56,57 60—62 63-65 66, 67 68,69 70— f2 73 — 75 76,77 77,78 79 80,81 82,83 83 83,84 84 86,87 88 89 89. 90 90 92 93—96 96—98 99-102 li I CONTENTS. turn Trial Balance and Inventory 108 Statements showing the result of the Basiness 108, 104 Questions for Review 104 Set V, Produce, Grocery and Domestic Shipping Bwsineaa — Losing Business — three Partners, one fur^ nishing no Capital — Losses shared unequally. Instruotions for writing up .' 02 History and Elucidations 106—108 Trial Balance and Inventory 100 Statements showing the result of the Business 109, 110 Questions for Review Ill, 112 Remarks on Detection and Correction of Errors Ill BALANCE SHEETS AND LEGEB ACCOUNTS. Balance Sheets explained and Formulas given 114 — 116 Leger Accounts discussed 117 — 120 Questions for Review 121 DAT-BOOK IN JOTJBNAL FOBU— CASH ENTERED SOLELY IN THE CASH-BOOK, AND TBANSFEEBED MONTHLY TO THE DAYBOOK. 8kt VI, Foreign Shipping and General Commission Business. Two Partrurt at commencing, and afttt" ward a third taken in. Explanatory Remarks and instructions for writing up 124, 125 History and Elucidations 126—188 Day-Book A 139—144 Day-BookB 145—148 Cash-Book 149—153 Index and Leger A 155—160 Index and Leger B 161 — 165 Inventory-Book and Trial Balances 166, 167 Auxiliary Books for Set VL Bank-Book and Check-Book 170, 171 Bill-Book 172, 178 Invoice-Book » 174 Sales-Book 175 Outward-Invoice-Book 176 Account-S^les-Book 177, 178 Account-Current-Book 179, 180 Letter-Book 181 Additional Auxiliaries 182 Leger Accounts (continued from page 120) .*. 183 Questions for Review, SetYI 184 STEAMBOAT BOOKS. Books of Steamboat Sultana for two Trips. Explanatory Remarks and Instructions for the Student 185 Freight-Book 186—189 . Passage-Book 190, 191 Cash-Book 192—195 Journal » 196 Index and Leger 197—199 Crew's Leger 200—208 Balance Sheet, Manifest, Steamboat Report, Bill of Lading, Bill for Freight 204, 205 Forms of Notes, Due Bills, Drafts, Bills and Sets of Exchange, Orders and Receipts 206 — ^208 PRACTICAL FORMS TO SAVE LABOR IN KEEPING BOOKS. Preliminary Remarks 210 Pbactical Form, No. I, for Professional Gentlemen, Mechanics, Teachers, and others 211 — 216 PBACTIOAL Form, No. 2, for Retail Merchandising Business 217 — 224 Practical Form, No. 3, for Wholesale, Jobbing, Manufacturing, Retail, or General Trading Business 225 — 238 Practical Form, No. 4, /or Wholesale, Jobbing, Importing, or Manufacturing Business 289 — 249 Practical Form, No. 5, /or Wholesale and Retail, or Extensive Retail Business 250 Practical Form, No. 6, /or Commission and Company Speculating Operations 251 — 264 Form of a Continued Monthly Trial Balance 265 Forms ot Receiving and Forwarding Books 266 COMMERCIAL CALCULATIONS, OR MERCANTILE ARITHMETIC. Interest, Discount, Bank Discount, and Discount on Bills and Invoices « 268—271 Insurance, Commission, and Loss and Gain 272, 278 Equation of Payments (commonly called Average) both Simple and Compound 278 — 277 Equation applied to the Storage of Property • 277, 278 Exchange on Great Britain and Indirect Exchange 278 — 280 Tables of Foreign Coins and Moneys of Account • • 280 — 286 Time Tables 287,288 4 PREFACE. In the fall of 1845, a treatise on Book-Keeping was published, entitled, " An In- ductive and Practical System of Double Entry Book-Keeping," in two editions, one for the Counting-House, and the other (being an abridgment of the Countmg-HoiMO edition) for High-Schools and Academies. In the preparation of that work for the press, the author of the present treatise was associated with his brother, A. F. Crittenden. In 1849, having purchased all his brother's interest in the former work, he prepared for publication as sole author a new treatise, (also in two editions,) similar m many respects to the former, but much more extended, embracing Single as well as Double Entry Book-Keeping, and made to conform more fully to the actual practice of our best accountants. Both these publications ran through several editions, and the latter especially has met with the most favorable reception in all parts of the United States, each succeeding year having shown a greatly enlarged demand for it. The favor thus shown the work did not cause the author to lessen his endeavors to improve it, but rather stimulated him to increased effort to merit the favor bestowed upon it, and led to the publication of the present edition, which, as compared with the former, is improved in every way which the additional experience of several years in teachintr in a large city, daily intercourse with practical accountants, and almost con- stant exercise in adjusting intricate accounts for others could suggest to him. In his efforts to improve the work he has been kindly and liberally aided by his publishers, who have spared no expense which would tend to make it more useful and acceptable. It must be apparent to every careful observer that the science of Book-Keeping has of late received much more attention in our country than in former years, not only among merchants and business men generally, but in schools, both public and private ; and the author confidently believes that the time is not far distant when it will be con- sidered as essential a branch of an English education as Arithmetic or Grammar now is. Entertaining this opinion, he prepared for the press "An Elementary Treatise on Book-Keeping by Single and Double Entry, designed for Common Schools," which was published in April of this year, and which he trusts may ptove a valuable auxiliary to teachers. The three publications on Book-Keeping above named are now so arranged as to harmonize with each other, and to supply a series of text-books adapted, it is believed, for the use of learners at different stages of advancement, from the school-boy and mere tyro in commercial knowledge, to the man of mature years and cultivated business habits ; while the more advanced work of the series will, the author hopes, be found to be not unworthy a place on the desk of the experienced accountant, as a book of reference. i. , /^ • tt The following is a concise summary of the leading features of the Countmg-House edition,, as now presented to the public: 1. Bach set of books is so short that the pupil will be enabled to comprehend and trace out the con- nection between corresponding entries in the several account books of the set, and will not be- come fatigued with the extent of his business before ascertaining its result. 2. A suflBcient number of sets is given to illustrate the opening and closing of books, both individual and partnership, under the various positions of gains and losses, capital and insolvency. .1. Plain and philosophical principles, to guide the reasoning faculties, are presented, instead of men arbitrary directions ana unnecessary classifications; and in the part by Double Entry, all eluci- dations of debits and credits are based on one general rule deduced from the definiiion o/dtU^ and creditor. i! I'i It ! I; i PREFACE. 4. Many of the entries are so classified as to bring those of a similar natare or of a directly ODDOsitA nature together, and thus to impress them upon the mind by strong similarities and contrasts. 5. Each successive exercise is intended to be a step of progress in the science, but yet so short and easy a step that what has already been explained shall be inductive thereto, and aid in its achievement. 6. The Day-Book, or the original history of transactions, is all that is furnished for several seta, to prevent the possibility of merehj copying, and to compel the nupil to depend upon his own mental resources for his entries. Trial Balances, and other proots, are however given to test the correctness of his work. 7. Each set is followed with questions for review, which will afford teachers an opnortunity of ascer- taining the amount of knowledge which their pupils have acquired, and will aid the pupil in fixing that knowledge permanently in his mind. 8. The nature and object of the different Leger accounts are discussed after the student has been made acquainted with the premises for reasonable conclusions. 9. The method of transferring accounts from one Leger to another is illustrated. Also, a business is shown, in which two partners are interested at starting, but afterward a third is taken into the concern. 10. A. foreign shipping business is introduced. In preparing this important portion of the work, the author consulted with many practical accountants, and he feels assured he has presented the matter in a form well adapted to the wants of learners, and which will claim the approval of ex- perienced book-keepers. 11. The space occupied with the Italian method of Book-Keeping (a form now obsolete in practice, although the foundation of all other forms) is barely suflBcient to give those general ideas of journalizing, posting, &c., which must first be learned, and which can be better acquired under this form than any other ; while the main portion of the work is devoted to improved methods^ such as are now in use in counting-houses in the various branches of business. 12. An extended variety of practical labor-saving Forms for keeping books follows that portion of the , . . 1 -1 /. • .• _ 1 1 1-j _r A.I :^~-.«. 4^u^ ^vt.^^i. ^^^»»k v^-.« «^/l tUQ believed, _ lavo been revised with rigid criticism, and some which were formerly inserted have been thrown aside as too theoretical, while others have been modified to make them the better suited to the specific business intended ; and the author's endeavor has been to furnish all — the teacher, the mechanic, and the professional man, as well as the most extensive wholesale dealer, manufacturer, and commission merchant, with such information as each severally needs. 13. A series of Commercial Calculations are given, worked by the shortest and most approved methods; also, a Table of the Coins and Moneys of Account of the principal commercial nations of the world, showing their intrinsic values estimated according to the United States Mint valuation. 14. A Key to the work has been published for the use of teachers and private students, which contain! the different Journals, Legers, Balance Sheets, &c., that are omitted in the treatise itself. Some books which are omitted in the High-school edition, and therefore given in the Key, will be found inserted in this edition, for the convenience of those who use it as a book of reference, and whc do not wish to procure the Key. 15. Blank books, for writing up the sets, with printed explanations, have also been published. The distinctive characteristics of the High-School edition are noticed in the Br^f Plan of the work, which follows this Preface. The author returns his sincere thanks to the many gentlemen, comprising in the number merchants, hook-keepers, captains of vessels, and others, in various cities, (par- ticularly in New York and Philadelphia,) who kindly aided him in his labors, both by their advice and by furnishing such business details as could be acquired only by a long pursuit of their several callings. s. w. c PmLADKLPHiA, Sept. 1st, 1853. I* BRIEF PLAN OF THE WORK. This work embraces illustrations of accounts kept by both Single and Double Entry. In the Sincrle Entry, contained in the first 57 pages, four sets of books are shown, with entries for°four different kinds of business, each set being preceded by explanatory remarks, descriptions of the books used, &c., and followed by exhibits of gams or losses, and of net capital or insolvency, resulting from the business, and by ques^ons for review. The author has endeavored to reduce the keeping of books by Single Entry (which is at best only a series of memoranda) as nearly to scientific principles as possible ; but in his opinion the system of Double JEritri/ oXone deserves the appellation of Book-keeping ; and any one who becomes thoroughly master of it, will not relinquish it, but wiU keep his accounts in accordance with its principles, whether engaged in business on a limited or an extensive scale. The greater part of this treatise has therefore been devoted to Double Entry Book-keeping. , , -n j • j ' In this Counting-House edition, the elementary portion of Double Entry, designed to impart a general knowledge of the science, embraces three different methods of keeping books. The first is the Italian method, so called from its supposed origin, and by this method three sets of books are given. The second is a method of dispensing with the Journal, and using a Day-Book in Journal form, from which postings are made direct to the Leger :— two sets of books are thus shown. The third method is similar to the second, with this variation, that the Cash-Book is the only book of original entry for moneys received or paid out, these entries being transferred from the Cash-Book to the Day-Book at the end of each month. This method is embraced in Set VI, which illus- trates & foreign shipping and commission business, continued for three years—two part- ners for the first two years, and three partners for the third year. In the third year a new Day-Book and Leger is introduced, and thefdnethod of transferring accounts from one Leger to another is exhibited. In connection with Set VI, the various auxihary books requisite in business are also given and explained. • i -n v. r Following the above-named six sets, is a set of Steamboat books, which wiU be found particularly serviceable to clerks on our Western rivers and lakes. Lastly, in order to show how a knowledge of Book-keeping may be most advantage- ously applied to any specific branch of business, six Practical Forms are given, embracing labor-saving methods of keeping books, suited to mechanical, professional, retail, whole- sale, jobbing, importing, manufacturing, and commission business. These Forms show how the general principles laid down in the elementary portion of the work may be applied to any particular method of keeping books which shall suit the taste of the book- keeper, or be best adapted to the specific kind of business. They exhibit plans for posting from one or more books of original entry, without journalizing, making the postings to the various property accounts in monthly totals, while personal accounts are posted ^nWj— for journalizing monthly— fox keeping commission hook^, without opening Sales accounts in the Leger, &c. &c. Full explanations of the nature and use of the different books belonging to each set ; the manner of opening and closing the Leger for individual or partnership business, commencing with capital or without capital, and windii^g up with gains or losses— capital or insolvency ; directions for writing up the books, and also for the detection and cor- rection of errors ; questions for review ; Balance Sheets, with instructions how to make them out ; a discussion of the nature and object of the different Leger accounts, their modes of treatment, and the manner in which each is closed ; and a Vocabulary of com- mercial terms, together with explanations of the abbreviations and characters made use ^! i BRIEF PLAN . of in commercial transactions, will all be found in their appropriate places, and may be readily referred to by means of the Table of Contents, pages 3 and 4. At the close of the book, Commercial Calculations, Tables of Foreign Coins and Moneys of Account, and Time Tables are given. <^ The Series of Practical Treatises on Book-keeping by Single and Doublb Entry, of which this volume forms a part, comprises the following works : — 1. Elementary Treatise on Book-keeping for Common Schools. Key to the same. Blank Books, for writing up the exercises contained therein. 2. Inductive and Practical Treatise on Book-keeping : High-School Edition. Key to the same. Blank Books, for writing up the exercises contained therein. 3. Inductive and Practical Treatise on Book-keeping : Counting-House Edition. Key to the same. Blank Books, for writing up the exercises contained therein. No. .1, of the Series, was prepared with reference to the capacity of pupils of " Com- mon" or " Grammar" schools, of from twelve to sixteen years of age, and elucidates the principles of the science, and the application of those principles to the more simple modes of keeping accounts, so that they may, it is believed, be fully understood by the class of pupils referred to. It contains four sets of books by Single Entry, illustrating four different kinds of business ; and six sets by Double Entry, the first three of which are kept by the Italian method, the fourth and fifth have a Day-Book in Journal form, so as to dispense with the Journal, and the sixth is upon the plan of journalizing monthly. No. 2, of the Series, is suited to pupils of a more advanced age, and a higher state of progress, and is designed for use in the higher schools, academies and other institutions of learning, in the United Spates, both male and female, public and private. All of the Single Entry and the first three sets ofJ)ouble Entry (by the Italian method) are nearly the same as in the treatise for CommoPSchools, but the subsequent sets are varied and more extensive. It contains seven sets by Double Entry. The fourth, fifth and sixth sets are without a Journal, the Day-Book being in Journal form. The fifth illustrates domestic shipping, and the sixth foreign shipping business. The seventh is a plan for journalizing monthly, and illustrates a jobbing and importing business. No. 3, of the Series, is intended as a book of reference for practical book-keepers, as a text-book for commercial schools, or institutions designed to prepare young men for im- mediate entrance upon the active duties of accountants, and as an aid to private students who wish a full and complete treatise. It is precisely like the High-School edition to the end of the sixth set by Double Entry. Following this, is a set of Steamboat books, and six different Practical Forms, or shortened methods for keeping books, suited to me- chanical, professional, retail, wholesale, jobbing, manufacturing and commission business. The third of these Practical Forms is the same as Set VII of the High-School edition. This edition also embraces numerous Commercial Calculations, a knowledge of which is essential to the practical accountant, and Tables of Foreign Coins and Moneys of Account. One word as to the style used by^e author in this work. Knowing, from experience, the great advantages to be derived Irom adopting the direct address in teaching, he has, at the risk of incurring the charge of egotism^ made use of pronouns of the first and second person, (I and You,) instead of the third person ; and is confident that those who peruse with a desire to obtain information will be pleased that all formality has thus been laid aside, and the conversational style adopted in its stead. To those whose sole object is criticism, it need only be said, the book was not written for their pleasure. . 8 . VOCABULABY OF ABBEEVIATIONS, CHARACTERS, AND MERCAMTILE TERMS, USED IN THIS WORK. ABBREVIATIONS. f Adv. A&t Amer. Am't Ant. Apr. A$t'd 0] Aug. Bal. B.-B. Bbl. Bill* Pay. Bill* Rec. Rk Blk. Bo't Bro't Cap. C.-B. Co. Cord Com. Cout't Cr. J>.-B. Dee. Dtp. jr/t Die. Do. Dim. Dr. Dray, E.E. E. A 0. E. EmVd Eng. EnL Ex. Exeh. Emp'e Adventare. Account American. Amount. Answer. April. AEsortedL , AugiBt. Balance. Bill-Book, Buik-Book. Barrel. Bills Payable. Bills Receivable. Bank. Black. Bought Brought CapitaL Cash-Book. Company. Colored. Commission, Commerce. Consignment Creditor. Day-Book. December. Deposited. Draft Discount I Ditto.] The same. )osen. Debtor. Drayage. Days. Each. Errors excepted. Errors k omissions ex- cepted. Embroidered. English. Entry. Example. Exchange. Expenses. fa9. Feb. Fig'd fol. Formed Fr. Fr^t Oal. Guar. Hhd. I.-B. i.e. Int. Jntol. intt. Int. lup't Jan. Jour. JF. Lab. Iht. Leg. L.F. Mar. Mdte. m. or mo. MoU. Mat. N.B. No. Nov. Oct. O.-I.-D. P- Pay't P.-C.-B. P'ch't P'd P'k'g't P.d;L. Payor. February. Figured. Folio. Forward. French. From. FreighL Gallon. Gxiarantee. Hogshead. Invoice-Book. [Id est] Thatifl. Insurance. Insolvency. [Instant] The present month. Interest Inventory* January. JournaL Journal folio. Labor. Pounds. Leger. Leger folio. March. Merchandise. Month. Molasses. MutaL [Nota Bene.] Take no- tice. Number. November. October. Outward-Invoice-Book. Page. Payment Petty-Cash-Book. Purchases. Paid. Packages. Profit A Loss. Per. Pr. pr. pr. et. Prem. Prof. prox. Pt. Ree*d B.-B. S..B. Sept. Sh. Shtp't Sfb't Stor. JSund^t Super, or S. vis. vt. Weigh. Ydt. PersonaL Pair. [Per.] By. [Per centum.] By ths hundred. Premium. Profit [Proxima] The next month. Pieces. Received. Rail-roadT Sales-Book. September. Share. Shipment Steamboat Storage. Sundries. F. Superfine. [Ultimo.] The last month. [Videlicet] To wit- namely. [Versus.] Against Weighing. Yards. Year. + u 1» 1« 1» CHARACTERS. At Account Cents. [Per centum.] By the hundred. Number. Sign of addition. " " subtraction. tt ** multiplicative. « division. " equality. [Ditto.] The same. One A one-quarter. One k one-half. One k three-quarters. MERCANTILE TERMS. Abatement, a deduction or discount for damages on goods, or for payment of demands before due, etc Aeoeptnneef Ist The receiving of a bill of exchange or order, in such a way as to bind the acceptor to payment It consb'ts in the acceptor's writing across the face of the bill "Accepted," and signing his name. If drawn payaUi* at a certain number of days' sight, the date of acceptance should also be given. 2d. A bill of exchange accepted. Accommodation, a loan of money. When applied to bills of exchange it is where the dravaet lends his name for t^e ose of the drawer. Aeeount-Current, an exhibit in detail of a running account between two or more parties. Aaconnt'SaltH, an exhibit Of the sales of goods disposed of on commission, with Uie charges ineuired thereon. Ad valorem, according to value. An ad valorem duty is a certain percentage on the first co8t» or invoice priee. VOCABULARY. I*' * [if P I! f . I ;t» 'ii^ in poues- Advanee, additional pncej profit; premium. Money paid on property or gooda expected, or on gooda^ sion for security. Adventure, goods sent to a distance to be sold on commission. Any speculation in Co. Advice, mercantile intelligence. Annuity, a sum of money payable periodically, usually yearly. Ante-date, to date before the present time ; to date beforehand. Arbitration, the hearing and determination of a cause between parties in controyersy, by a person or persons chosen for the purpose. A hearing before arbitrators though they make no award. Atteta, available means for payment of debts ; goods, estate, and indebtedness of others. Atngnee, one to whom an assignment is made. One appointed or deputed for some specific purpose, AMignment, conditional transfer of property to another. The property so transferred. Anignor, one who makes an assignment. Attachment, a claim on property legally executed. Aune, a French cloth measure, one yard and a quarter. Average, sums allowed for losses at sea. A medium time found by equation. Balance, to close an account in the Leger. Difference between the debits and credits. An account in the Leger, into which all balances are closed. Bankrupt, insolvent. One unable to pay his debts. Bill, or Bill of ParceU, a statement in detail of goods bought or sold. Billa, a term applied to drafts, notes, etc. Bill of Entry, a list of goods entered at the Custom-house. BiU of Exchange, an order for the payment of money; usually applied to drafts on persons in another state «r country from the drawer. * . . . . -^ . . . Bill of Lading, a written account of goods shipped, having the signature of the master of the vessel on whi^hippeo. Bill of Sale, a contract, under seal, for the sale of goods. ^W BiU of Store, a Custom-house license for carrying to sea ship-stores and provisions free of duty. ^ Blank Credit, permission granted by one house to another to draw on it at pleasure to a specified amount^ Bona fide, in good faith. ,<.,.,. x jj««*_» * Bond, a note. An obligation or deed by which a person bmds himself, his heirs, executors, and administrators, to pay a certain sum on or before a certain day. Bonded goods, those for the duties on which bonds are given at the Custom-house. Bottomry Bond, a mortgage or lien upon a vesseL Brace, a measure of § of a yard. Broker, a money or stock trader. Factor ; agent. Brokerage, a percentage for the purchase and sale of money and stocks. Capital, stock in trade. "■ Cargo, the lading or freight of a vesseL Catty, a Chinese weight of IJ lbs. avoirdupois. Carrying trade, the transportation of goods by vessels from country to country. , . , Charter-party, a written agreement between the owner of a vessel and the person to whom she is chartered. Circular letter, a printed notice issued by a house, relative to its business. -i j • Clearing a vessel, entering at the Custom-house all particulars relating to her when she is ready to sail, and paying clearance charges. Clearance, a certificate from a Custom-house that a vessel has been cleared. . • . , j Closing an accotmt, making an entry to balance it, and drawing lines underneath to indicate that it is closed. Coeket, a Custom-house warrant to show that goods have been entered. Commission, a percentage allowed for the sale of goods. Compound, to settle with a creditor by agreement, and discharge a debt by paying a part of its amount Compromise, an adjustment of differences by mutual concessions. Consignee, one to whom goods or wares are consigned. Consignment, goods sent to an agent to be sold for the consignor. Consignor, the person making a consignment. Contraband goods, articles prohibited by law to be imported or exported, . Contra, on the other side ; opposite. • Convoy, ships of war sailing with other vessels as a protection. Co-partnership, the union of two or more persons for purposes of trade. Counter order, a revocation of a former order. . «,. Credit, that side of an account which shows the amount due to the person or thing represented. The amount of confidence reposed in another. , , . Cuutom-house, the house where vessels are entered and cleared, and where the duties on goods are paid. Davs of grace, the days allowed for the payment of a bill after it becomes due. In the United States, and in Great Britain and her dependencies, the number of days of grace is three; but it varies very much in other commercial states, reaching 30 days in Genoa, there being none aUowed at Leghorn. BiUs drawn at sight are usually paid when presented, without grace. j. * i Debenture, drawback of duties on goods imported, when afterward exported according to law. Debit, that side of an account which shows the indebtedness of the person or thing represented. Defalcation, deduction ; diminution. That which is deducted or cut off. Demurrage, forfeit money for detaining a vessel beyond the time specified in her Charter-party. i>«iH)«, a place where goods are deposited; a depository; » magazine. , . , - . .- Owiation, the voluntary departure of a vessel, without necessity, from the regular and usual course of the specific voyage insured, which frees the underwriters from obligation. Discount any deduction from the stipulated price of goods, or from a sum due or to be due ai a future time. Dividend, gains on stock, shares in trade, etc. Dock, a place to build, repair, or lodge vessels. . .,, r. Draft, an order from one person on another for the payment of money ; a bill of exchange. Drawer, the one who draws a bill or draft on another. The maker of a note. Drawee, the person on whom a biU is drawn. 10 VOCABULARY. Prawbaek, amount paid back. Any loss of advantage, or deduction from profit. Duplicate, a copy. Dutjff a government tax on exported or imported goods. Effects, money, property on hand, and debts due. A7/ Flemish {E. FL), a measure of i yd. Embargo, a restraint on ships by Government; or prohibition of sailing either out of port, or into port, or both. Emporium, a mart A town or city of trade ; particularly a commercial city. Endorse, to write one's name on the back of a bill ; to become obligated for its payment Entry, a record made in an account book. The depositing of a ship's papers at the Custom-house, to procure license to land goods. Engross, to monopolize ; to purchase the whole or large quantities of commodities, in market, so as to enhance the price. Equity of redemption, the advantage allowed to a mortgager, of a reasonable time to redeem lands mortgaged. Exchange, the giving of one commodity for another. The place where merchants, bankers, and brokers meec, at certain hours, to transact business. Discount and premium arising from the purchase and sale of bills and money. Face, the amount for which a bill is drawn. Fac-Simile, an exact copy. Factor, an agent employed by merchants to buy and sell, or transact business, on their account Failure, a breaking or becoming insolvent Favor, a bill is said to be drawn in favor of the person to whom it is payable. Finance, or Finances, revenue; funds in the public treasury. The resources or income of individuals. FinancieTf one skilled in money matters. A revenue officer. Firm, the name or title under which a company transact business ; a partnership, or house. Flat, low, [as to the prices of goods ;] or dull, [as to sales.] Foreclose, to foreclose a mortgage is to cut a mortgager off from his equi^ of redemption. Folio, page of an account book ; both the right and left hand pages expressed by the same figure. Freight, lading; that which is carried by water. 6am charged by a vessel for the transportation of goods. Guarantee, or Guaranty, indemnity or security against loss ; a pledge for the fulfilment of stipulations ; one who binds himself to see the stipulations of another performed. Grace, see Days of grace. Honor, as applied to drafts, means to accept and pay when due. Hypothecate, to pledge ; to give as security. Hypothecated, pledged, as security for money borrowed. '"*^ Importation, the bringing of goods from another country to one's own country. The commodities imported. Insurance, security against loss. The premium paid for insuring property or life. Insolvent, not having money, goods, or estate sufficient to pay all debts. A debtor unable to pay his debts. Instalment, a part of a sum of money paid, or to be paid, at a particular period. Interest, a percentage paid for the use of money. International, relating to the mutual intercourse between different nations. Inventory, an account in detail of property. Invoice, see Inventory. Inventory is generally applied to a catalogue of goods on hand; Invoice, to goods purchased, received from abroad, or about to be shipped. Land Waiter, a Custom-house officer whose duty it is to wait or attend on the landing of goods. Lease, a contract granting possession of property for a stipulated time. Letter of Attorney, a writing by which one person authorizes another to act in his stead. Letter of Credit, a letter authorizing one person to receive funds on the credit of another. Letter of License, a written permission to a person under embarrassment to conduct his business for a time without molestation. Letter of Marque, a written commission or authority given by government to private vessels, to make reprisals on th* vessels of another nation. Liabilities, debts of an individual, or claims against him. License, a legal permit to sell certain articles of merchandise. Lien, legal claim, as a lien upon land, houses, Ac. Lighter, a craft used to lighten vessels in shoal water. Lighterage, a charge for carrying goods to and from a vessel in a lighter. Liquidation, the act of adjusting and paying debts. Manifest, an exhibit of a vessel's cargo. Mart, a place of public sale and traffic. Maturity, the time when a bill falls due. Maximum, the highest price of an article. Merchandise, the usual articles of trade. Metre, a measure of 1^^ yds. Minimum, the lowest price of an article. Mint, a place where money is coined. Mortgage, the grant of an estate in fee, as security for the payment of money. Mortgager, the person who grants or pledges property, for security of debt Mortgagee, the person to whom an estate is mortgaged. Net proceeds, the remunder after deducting all charges from the amount of gross sales. .^e* weight, the weight of a commodity after deducting lare, and all other allowances. • Non claimf a failure to claim within the time limited by law. Omission of claim. 11 m VOCABULARY. Notary, or Notary Public, a person legaUy authorized to attest contract!., or writings of any kind; •bo to Uke noU of the non-payment of bills, promissory notes, Ac., which is called protesting. Note, a written obligation to pay money. A memorandum. Obligation, indebtedness. A bond, with a consideraUon annexed, and a penalty for non-fulfilment Obligee, the person to whom another is bound. Obligor, the person who binds himself, or gives his bond to another. ^ a^ ^f .«^n,«r in writing Order, a request to deUrer or pay to a person certain moneys or goods. Any request made of another in wnting. Par of Exchange, the intrinsic value of money, when compared with that of other countries, both in weight aiui fineness. Partnerthip, see Co-Partner$hip. Payee, the person to whom money is to be psdd. Per annum, by the year. PictW, a Chinese weight of 133i lbs. avoirdupois. ;♦• ♦.»»i,a ln«iir«d i« effected Polii^, or Policy oflnBuranee, the writing, or instrumoni, by which a contract of indemnity to the insured is effect^tt between him and the insurer. Portage, the incidental sums paid by a Captain in running his vesseL Pottdate, to date after the real time. Potting, transferring the Journal entries to the Leger. Potcer of Attorney, authority given to a person to act for another. Price Current, a list of various articles of Mdse., with their market valuef. „.^,i:.»:„^*!n„ »« Jnti,re«L Principal, the chief of a commercial house or firm. Capital sum due, lent, or owed, in contradistinction to interest Primage, a percentage allowed to the master of a vessel on the amount of freight transported. .„„th«r Procuration, the act of procuring. The instrument by which a person is empowered to transact business for 'inothe^ Pro/orma, according to form. Thus a pro forma Account-Sales is an imaginary Account^Sales, made out in form of a real one, to send to parties abroad, to give information of prices, charges, commission, Ac. Promutory J^onn^,*'thrweight or measurement of goods carried in a vessel, or the capacity of »/«»«J; TrZtfe^, to carr; from one account to another. To make over ; to convey from one to another Trmue, a person to whom any thing, or business, is committed. Vndermitert, persons who insure property against loss. Utury, formerly interest— in present usage, illegal interest. Voucher, a book, paper, or document, which serves to vouch the truth of acoounti. Wharfage, money paid for the use of a wharf. j Wreckert, person? employed in savLng property from shipwreck. check on oontraban4 12 L\'i INTRODUCTION TO SINGLE ENTRY BOOK-KEEPING. Book-Keepino it the tcienee of aceountt, and teaches how to preserve a correct record of all business transactions. There are two distinct methods of keeP'ng accounts, termed Book-Keeping by Single Entry and Book-Keeping by Dovhle Entry . In Simh Entry Book-Keeping, each entry is a nngle entry, that is, consists ol tmt one debitUr one credit; while in Loubk Entry Book-Keeping, erery entry contauis both a debit and a credit. . i_ *„ „^^a The principles of Single Entry are so easy of comprehension as scarcely to need explanation. Accounts are usually kept only with the persons with whom you have deaUngs, and although a Cash account. Merchandise account, and other property accounts may be keptf yet just so far as you introduce any other accounts except those with persons\ho owe you, or whom you owe, so far do you encroach upon the peculiar province of Double Entry, as is more fully explained on page oO. ^ The principal books of entry are a Day-Book and Leger. Besides these there are several smaller books which are convenient, and some of which are absolutely essential to be kept. These are usually termed auxiliary books, and vary in number and torm according to the business. They wiU all be described and shown m the subsequent pages of this book. Of these the Cash-Book is the most important, and should never be dispensed with where there are any considerable dea,lings in cash. In it all receipts and piyments of cash are entered, and it is a constant check upon your cash transactions to test their accuracy. The Day-Book.— All transactions are entered in this book which require a debit or credit to any person with whom you have dealings. The form of entry is very simple th^: "John Brown Dr. To e'lbs. Nails @ 7^, 42;^ " or "Samuel Henry Cr By Cash on % $5.00 ;" in every case specifying the details which constitute the debit or credit. This is the only book from which posts are made to the Leger. The Leger.— Into this book all sums entered in the Day-Book are transferred, an account being opened with each diiferent person, into which every debit and credit made Tthat person is collected. This process is called posting, and the advantages derived from it are, that, by looking at any person's account in the Leger, you can see at a gknce your'whoi; dealings ^ith that person, and also the tah^B?* which is due him or f ou, which you could not find without much trouble and great liability to error, if the imonnts of debit and credit were all left standing scattered through the Day-Look. SET I, SINGLE ENTRY 1^ M 14 \ EXPLANATORY REMARKS, SET I. CASH-BOOK, SET I. The Cash-Book [see page 19] is a simple memorandum-book for keeping the Cash account correctly. There are various ways of keeping the Cash-Book, but the form here shown is perhaps as simple as any, as easily kept, and as little liable to mistakes, for persons whose cash transactions are not very numerous, and who are not scientific accountants. It contains two columns for dollars and cents.* . j • .v- Whenever money is received from any source whatever, it must be entered m this book as "Rec'd," (describing for what,) and the amount must be extended into the lejt hand dollar and cent column, which is called the debit column ; and whenever money is paid out for any purpose whatever, it must also be entered m tins book as Faid, ftelling for what,) and the amount extended into the right hand do lar and cent column, called the credit column. Thus, if the account is kept correctly, the diflference between these two columns will show at all times the balance of cash on hand, and will agree with the actual amount of money in possession, counting that which is deposited m bank, as well as what is in the store or shop ; and if it does not so agree, there has been some error, which must be searched for and corrected. The credit column can never be the larger, since it is impossible to pay out more money than you receive. The Cath-Book should be balanced at the end of each week—or daily, when much business is done—by entering in the credit column the balance of ca^h on hand, (usually done in red ink,) ruling and footing both columns, and underneath the closure entermg the balance on hand (in black ink) in the debit column. .. n v, -d v v^ The Cash account may be tested at any time, without balancing the Cwh-Book, by finding the difference between the debit and credit columns, on a sera? of paper, and comparing that difference with the cash on hand. This should be done daily, when the Cash-Book is balanced only once a week. DAY-BOOK, SET I. Whenever you do a job of work for any person, or sell him any thing, or pay him money, or he in any other manner becomes indebted to you, he must be charged (or debited) with the same in this book, to show that he owes you. And whenever any person sells you any thing, pays you money, or does work for you, or you in any other manner become indebted to him, he must be credited with the same in this book, to show that you owe him, [See form of entry, page 20.] . i • v • i, TWs is the only book from which you post, and therefore every entry which you wish to bring into any account in the Leger must be entered here. Erasures ^re not allow- able in the Day-Book, as they look suspiciovi^ and frequently render invahd the evidence of entries therein. [See remarks on detection and correction of errors, page lll.J In eni^rmg purchases, it is allowable to say, "Am't as pr. Bill or "Amt as pr Invoice," and omit the detail of items, smce you have the Invoice filed away, or pasted in a book, so that you can refer to it at any time ; but in entering Sales, the items should always be mentioned in your Day-Book, as this is your legal evidence of the transaction; and m order to be taken as evidence, each article must be distinctly named. LEGER, SET I. This Leger contains the accounts of persons only, and is used for collecting m one Dlace all the items of debit and credit belonging to any one man, which are found scat- Led in separate entries over many pages in the Day-Book; and thus Presenting th^ account before us complete, for ascertaining the gross amount of debit and credit and the balance due either party ; and also affording an easy reference to the various items, by the date and page of the Day-Book. ♦ The pupil wiU observe that throughout the book, in speaking of the money columns, I designate the vpace for dollars and the space for cents, united, as but one column. 16 DEFINITIONS, As some may be at a loss to know the true meaning of the words debtor and creditor, debit and credit, I will here define them as used in Single Entry. Debtor, the person who owes you. Creditor, the person whom you owe. Debit — as a verb — to make the proper entry of a person's indebtedness to you : — as an adjective — that side of a person's account which shows his indebtedness to you. Credit — as a verb — to make the proper entry of your indebtedness to another per- son : — as an adjective — that side of a person's account which sliows your indebtedness to him. For a more perfect definition of these words, and a fuller explanation of their true philosophy, see the Introduction to Double Entry, pages 61 and 62. Also, for the definition of any terms, words, or abbreviations which you do not understand, refer to the Vocabulary, pages 9-12. s INSTRUCTIONS FOR WRITING UP CASH-BOOK AND DAY-BOOK, SET I. The intention is, that Sets I and II shall be written on loose sheets of paper for practice, and then Set III may be written in the blank books which accompany this work. This previous practice on loose sheets will enable the pupil to fill his blank books neatly and correctly. Ruling the sheets will be also very useful to the pupil, as he will be able to rule his Legers and other books much more book-keeper-like after this practice. The rulings in books, except the ordinary fiiint lines for writing on, look better to be in red ink. Prepare some" paper, ruled after the patterns given for the different books. Then in the Cask- Book enter the amount of cash at commencing business, on the Ist day of September, and the amounts paid out for paints, &c., on the same day; and in the Day-Book enter the debit to B« T. Stokes. Next, enter in the Cash-Book the payments out for gold leaf, step ladders, and m^lin on the 2d inst. ; and in the Day-Book the debits to Mayland, Morris & Co., and to T. TcmpletoB. Follow this with the receipt of cash in the Cash-Book, on the 3d inst. and this, again, with the entries in both Cash-Book and Day-Book, on the 4th inst. Having completed the first week, l]^lance your Cash-Book, and bring the balance down to the beginning of the subsequent week. Continue the entries of this week in the Cash-Book and Day-Book, in order of date, the same as the preceding, and so on, successively, balancing your Cash-Book at the close of each week, until you come to the end of the month. It makes no difference in which book the entries of any given day are Jirst made, as in a real business the entry would be put down at the time of the transaction, and would be sometimes placed in the Cash-Book and sometimes in the Day-Book, according to its nature. Some trans- actions, however, require an entry in each book at the same time ; as, for instance, on the 4th inst., Geo. L. Scarles is credited with his wages, and charged with cash on account in the Day- Book, and then the cash is recorded also in the Cash-Book. A little observation and thought, fiowever, will enable you to discover which transactions require entering in both books, and which only in one. You will perceive some of the hands employed have accounts opened with them in the Leger, and some have not. Those paid in full at the end of each week, have not INSTRUCTIONS JOR WRITING UP LEGER, SET I. After having finished writing up the Cash-Book and Day-Book, as just described, the next step ia to post the entries from the Day-Book to the Leger. This is done as follows : — ^The first entry- in the Day-Book is a debit to Stokes, for whom you open an account on the Leger, thus : "* *^ Dr. Bailey T, Stokes 6V.;" [see page 22;] then on the debit side, underneath thb heading, place the date, description, Day-Book folio, and amount, as found in the Day-Book, 'which conjpletes the post of the 1st inst. ^eni post-mark the entry, t. e. place the folio of vbe Leger to which it is taken, in the left-hand marginal column of the Day-Book. Underneath the account of Stokes in the Leger, open, in the same manner, an account for Mayland, Morris & Co.^ leaving a sufficient space for all the entrien that will probably be poetefl 17 ^->r- II II f INSTRUCTIONS {continued). to Stokes. On the debit side of this aecount post the entry of the 2d inst, post-marking it in the Bay-Book, to show that it is posted. Follow this with the account of Thomas Templeton, and so on, successively, opening an account in the Le^er for each different name. But when entries to any person occur subsequently to haying opened an account with that person in the Leser post all such subsequent entries into the account abeady opened. Credits must be posted to the credit side of the account; and where there is both a debit and a credit in the same entry, as in the entry to Searles on the 4th inst., it requires two posts, one on each side of the account. Any accounte which are paid in full, as that of Stokes «n the 7th inst., may be closed at the time, and entries occurring subsequently must then be posted underneath the closure. When the whole month has been posted, you may re-examine each item, checking the entries with a pencil in the Day-Book and Leger, to be sure that no mistakes have been made. Ihis is the onlftestof correctness that exists in Single Entry Book-Keeping, and is quite es^ntial if you would avoid errors, which are very apt to occur in posting. After satisfying yourself of the accu- racy of your work, you may proceed to close up your Leger, as you would at the ^fV^^l'^^ ^f a ^a^ in actual business. Those accounts which have been paid in full, if not closed at the set le- ment, may now be closed by ruling them according to the sample given, and adding up the accounts if they need adding up. Those accounts which have debit or credit balances still "n^Uled, m^^^^^^^ be closed^y making a red ink entry, (indicated hj Italics,) on the jailer Xof the account, saying, " To Bal to ^w %," or " By Bal to n^ %r mlmg and footing up the account, aid placing the balance underneath the closure, on the opposite side of the account. In the printed Leger given, you will observe that the ^erfendicuTxir lines are interrupted by spaces left for inserting each name, which cannot well be avoided in printing, although, in blank S ruled for the counting-house, the lines generally extend connectedly the whole length of he p^e In most blank books ruled for Legers, the only harizcmtallines across the imge (excep the f^ft line^ for writing upon) are the double Hues at the top of the page. The other single hues I^ve and doSufs Underneath each account are ruled by hand, and I think it is quite as well to dispense with them altogether, and open accounts after the following sample. Dr. Mayland, Morris & Co.- Cr. This form is neat, easily done, and, I think, looks better than so much ruling. All ruHngs on %llZ^^tf'^.^nl^^^ opened on a page in actual business must be determined by the iudf^ent of the book-keeper. An account that is likely to fill up soon, should have a whole S^Mt fc^ it : smaUer accounts may be placed two on a page, and in some cases, though seldom, '^Tn ^S'np these sets for practice, you can place as many accounts as you have room for on each S- but be careful not to c^wd one ax^count on another, as this looks excessively '""Kccounts may be arranged in the Leger in any order that suits the taste of the accountant, " Se MpZlTTl^^ 'aT^uU that always accompanies the Leger, will be explained in '1^ oi^t^V^^^t^^^^^^ yearly, and the continuance of Sets I «id n for one month each is to be understood as for one year. Note -In the closure of all the Sets in this volume, I have supposed that no bad debts exist on the Leger. But if any debts are known to be bad, or are even thought doubtful, an ample allowance should be made for them, in estimating your profits. 18 1852. Sept. a it u u Sept. u « a Sept. a (( Sept. <( u u u u 4( i4 U CASH-BOOK, SET I. Casli* Dr. Cr. 1 (( 2 (( it 3 4 6 7 8 11 (( (( (( 13 17 18 « 20 u ti 24 ti 25 (( ti a a Am't of Cash on hand at commencing business Paid for Paints, Oils, Glass, Brushes, &c., pr. Adam's Bill " " 2 Books Gold Leaf " " Making Step Ladders « " Muslin Rec'd of S. Lambert for Glazing 27 Lights 10 by 12 @ 25 )^ Paid Geo. L. Searles on % of Wages pr. D.-B. " Wm. Boyd, Jr., 3 days* Work @ $1.50 « Hiram Smith 2 " « @ .75 ^Balance in Bank, $345.00, in Safe, $41.31 Balance Cash on hand Rec'd of John Payson for painting Sign as pr. agreement " " Bailey T. Stokes in full of % Paid Jonathan Long & Co. on % H it it it it it " George L. Searles on % of Wages pr. B.-B. " Hiram L. Smith 5» days' W^rk @ 75 p Balance in Bank, $364.93, in Safe, $io.OO 500 506 00 75 75 386 30 6 31 00 75 Balance Cash on hand Rec'd for 37 lbs. Blue Paint @ 25 f Paid George L. Searles in full pr. D.-B. Rec'd for 2 Lights 10 by 20 Stained Glass @ $4.50 Paid Hiram Smith 6 days' Work @ $1.00 Balance in Bank, $374.43, in Safe, $5.25 Balance Cash on hand Rec'd of Timothy Stone for 120 lbs. White Paint @ 11 /? Paid for Repairs of Shop " " making Transparency Frame Rec'd of J. P. Goodwin, for Stained Glass, as pr. agreement " " Harry Biddle for painting Church, . *' Paid Foster B. Jones 6 days' Work @ $1.50 Walter Hughes 5» " " @ $L50 Hiram Smith 5 " " @ $1.00 423 374 9 9 O^j (( 393 93 25 00 18 it ti Peter Lundy 4' 379 13 25 210 68 20 00 00 $ .75 Balance in Bank, $541.76, in Safe, $64.00 Sep;. i) . (( ii t (( 28 ii 29 it ti ti 30 it it ti ti 1852. Oct. Balance Cash on hand Paid Peter Lee, Carpenter, for Sundry Jobs, as pr. Bill " for 10 calls. Linseed Oil @ $1.62* ^ec'd for Tin ^ Paid for Tin and Japanning " Hiram Smith 6 days' Work @ $1.00 ** Rent of Shop one month Balance in Bank, $521.43, in Safe, $18.65 627 595 10 88 75 00 105 32 75 5 00 37 3,00 450 150 886 3? 506 75 25 00 1000 9;oo 4113 8 7 4I 9 3 423 06 750 6'00 .** 3 7 9' 8 39318 212 438 9,00 8,25 5|00 3|38 595175 1 1 Balance from Sept. 30th /52 19 605 540 75 08 627188 22 5) 16,25 425 600 16 67 540 605 08 75 • Jklfctaen«tefwrMfc. li ^ DAY-BOOK, SET L "Philadelphia^ September Is/, 185 L.F. ♦1 Bailey T. Stokes To Lettering Tin Sign " 1 Light Stained Glass Dr. 1.75 5.00 - 2d Mayland, Morris k Co. To Bronzing Candelabra Dr. 8d Thomas Templeton To Bronzing Valve " 6 lbs. Blue Paint @ 25 / " 18 lbs. White " @ 12' /^ . 4th - Dr. 50 1.50 2.25 Camden & Amboy Rail-Road Co.t \ !>'• To Lettering Sign 60 feet, @ 20 f pr. foot 12.00 " Gilding Border of Sign ^-^^ " Putting up Sign . ^'^^ (( George L. Searles By 4 days' Labor @ $1.50 Dr. To Cash on % 6th Or. Camden & Amboy Rail-Road Co. To Lettering Sign 15 feet, @ 20 f " Making Board ^nd putting up Dr. 3.00 4.25 (C Henry Talbott ^ ^ ^ ^ ry t> n""' By Making Sign for Camden & Amboy B.-K. Co. . 7th Bailey T. Stokes By Cash in full of % Cr. 8th Jonathan Long & Co. By Paints, Oils &c., as pr. Bill Dr. To Caah in Part Cr- ti « I Wm. G. Bradbury " • By Bill of Glass and Putty (( « it, Paints and Oils Cr. 17.50 122.50 • Omit the flgnrM la tk« kft-huid marginal column, untfl flfWM w* Um 75 200 425 16 50 600 s'oo 25 800 75 52 64 25^00 14000 DAY-BOOK, SET L Philadelphia, September Qth, 1852. L.F. 1 2 1 2 1 2 1 Thomas Templeton To Glazing 1 Light 11 by 18 11th Dr. Jonathan Long & Co. To Cash on % " Glazing 10 Lights 10 by 18 @ 25/ Dr. 10.00 2.50 (( George L. Searles By 5J days' Labor @ $1.50 Dr. To Cash on % ; 13th Cr. Dr. . Philadelphia Exchange To Glazing 4 Lights 10 by 16 @ 25)^ 1.00 Painting 3 Rooms, 2 Coats, as pr. Agreement 15.00 15th = (( Camden k Amboy Rail-Road Co. Cr. By my Order on them, favor of J. Long k Co. u Jonathan Long k Co. Dr. To my Order, their favor, on Camden & Amboy R.-R. Co. 18th George L. Searles By 3J days Labor @ $1.50 Dr. To Cash in full (discharged) 22d Cr. Sargeant k Willis Dr. To Stained Glass for Transparency, Frame, and putting up as agreed 25th ^ Bailey T. Stokes Dr. To Glazing New Sash at Manufactory, as pr. Agreement, to wit, 56 Lights 11 by 15 @ 9/ 5.04 139 " 10 by 12 @ 7/ 9.73 1920 " 8 by 10 @ 3)^ 57.60 " 20 " Old Glazing 11 by 17 @ 35/ 7.00 Painting 110 Window Frames @ 45/ 49.50 Reception Room 5.25 27th : nz: u Thomas Templeton By 1 Blk. Cloth Dress Coat " 1 Pr. Blk. Cass. Pants 30th Cr. 15.00 6.00 Sargeant k Willis To Painting office as pr. Agreement 21 Dr. 37 1250 8:25 i 900 1600 1514 15 14 525 i 7'50 4000 13412 t 2100 1 f f 30 00 ii LEGER, SET I. Baiky T. Siokes. Cr. 1852. Sept.! 1 1862. SeptJ 25 Dr. Mayland, Morris ^ Co Cr. 1862. ^pt. To bronzing cande- labra Dr. Thomas Templelon. Cr. 1852. Sept. 3 9 tt 1 30 To Sundries " Glazing « BaltoNew% 1 2 16 25 37 38 21 00 1862J Sept. 1862. Oct. 27 By Sundries By Bal. fr. Old % 21 00 2100 16 38 Dr. Camden Sf Amboy Rail Road Co. Or. 1862. Sept. (4 1862. Oct. 4 6 To Sundries To Bal. fr. Old % 1 1 I 16 7 23 8 11852. 50' Sept 25 75 61 15 30 By Order on them *♦ Bal. to New % 15 8 23 14 61 75 Dr. George L. Searles. Cr. 1852. »3ept. 4 u 11 ft( 18 =1 To Cash 1 2 2 800 9 00 50' 19 1852. Sept. 4 " 11 « 18 50 By Labor 1 2 2 600 8 25 525 19 50 : — -a I I 22 Dr. LEGER, SET I. Henry Talbot. Cr. Date. Description. D.-B. Folio. Amount. Date. Description. D.-B. Folio. Amount- » 1862. Sept. 6 By Making Sign 1 3 00 Dr. Jonathan Long Sf Co. Cr. 1852. Sept. 8 11 15 To Cash " Sundries " My Order 1 1 2 2 25 12 15 52 00 50 14 64 1852. Sept. 8. By Paints, Oils &c. 1 52 52 64 64 Dr. Win. G, Bradbury. 1862. Sept. 8 By Bill of Glass &c. Dr. Philadelphia Exchange. 1852. Sept. 13 To Sundries 16 00 Cr. 140 00 Cr. Dr. Sargeant Sf Willis • Or. 1862. Sept. (( 1862. Oct. 22 30 1 To Stain'd Glass &c. " Painting Office To Bal. fr. Old % 2 2 40 30 70 70 - ! 00 00 00 00 1852. Sept. 30 By Bal to New % \ 70 70 1 00 \l I DEDUCTIONS FROM SET I As this business has now been brought to a close, it remains to be seen whether it has been profitable or unprofitable. .,, Take off a list of the debit and credit balances standing on the Leger, and >ou win find the following results. Balances due me. Bailey T. Stokes Mayland, Morris & Co. Camden & Amboy R. R. Co. Philadelphia Exchange Sargeant & Willis 134'l2 2,00 861 16 00 7000 Balances I owe. $230.73 Thomas Templeton Henry Talbot Wm. G. Bradbury Now suppose that the Cash on hand constituted the only capital at commencing business, except a stock of tools, amounting (say) to $75, as shown by the Inventory- Book, which are worth as much now as when you commenced, the new ones purchased bein^r an ofi-set against damage by use. Suppose, also, that the stock of paints, oils, glass° &c., remaining on band, amounts to $65.50, as shown by the Inventory-Book. You will then have the following details. Cash on hand, as pr. Cash-Book, at starting Stock of tools, as pr. Inventory-Book* 500.00 75.00 Capital at starting Cash on hand, as pr. Cash-Book, at closing Stock of tools, as pr. Inventory-Book " Stock of paints, &c. " " Personal accounts due me as pr. Leger Resources or assets Deduct liabilities, viz., personal accounts I owe as pr. Leger, Net capital or present worth $575.00 540.08 75.00 65.50 230.73 $911.31 159.38 $751.93 It appears from the above that my net capital at closing business is While my capital at commencing business was only Showing that my gains in business have been $751.93 575.00 $176.93 From these statements, you will perceive that :— ,.74. The amount invested by you at starting business is termed capital.^ Your available means at closing are termed resources or assets.^ Your indebtedness at closing is termed liabilities. The difference between your assets and liabiUties is termed net capital or present worth. Also, By taking your capital at starting from your present worth, you may ascertain your gains in business. In a losing business, By taking your present worth from your capital at starting, you may ascertain your losses in business. The Inrentory-Book will be explained hereafter ^ ^^^ ^^ .^ starting, tiie diffcrcnc* between Um ainnuol of jour effects and debts 24 QUESTIONS FOR REVIEW. These Questions review the whole of Single Entry thus far, and the pupil should be required to commit the answers thoroughly to memory and answer them, before proceeding farther. This questioning is one of the very beat exercises for fixing in the mind what is intended to be learned by the previous practice ; and I think the teacher will find that the series of questions prepared through the work are sufficiently extended to embrace nearly or quite the whole subject expound^, tod not, as is too often the case, so meagre as to impose on him half the work of framin" questions. What is l^ook-keeping ? What two distinct methods are there of keeping accounts ? In Single Entry Book-keeping, of what does each entry consist f ■' In Double Entry, what does every entry contain ? » What accounts are usually kept in Single Entry ? ^ - 80 far as you introduce Cash, Mdse., and oihcT properti/ accounts, upon what do you encroach? What are the principal books of entiy ? What are the smaller books kept besides these, in business, termed ? Which is the most important of these ? What do you enter in the Cash-Book ? What transactions are entered in the Day-Book ? Describe the form of entry. What sums are transferred to the Leger ? What is the process of transferring from the Day-Book to the Leger called ? What are the advantages derived &om it ? What is the Cash-Book? How many columns for dollars and cents has Cash-Book, Set I ? How must money received be' entered ? How must money paid out be entered ? What must the difference between the two columns show? If this difference does not agree with the actual amount of money in possession, what is shown ? Why cannot the credit column be larger than the debit ? How often should the Cash-Book be balanced ? How is it done ? How can you test the Cash account without balancing the Cash-Book ? When do you debit a person in the Day-Book ? When do you credit a person ? Why must every entry which you wish to bring into any account in the Leger be entered in the Day-Book ? Why are erasures not allowable in the Day-Book ? Is it allowable, in entering purchases, to say " Am t as pr. Bill," and to omit the items? Why is it ? Is it proper thus to do in entering sales ? Why i*ot ? For what is the Leger used ? Define debtor. Define creditor. Define debit — as a verb : — as an adjective. Define credit — as a verb : — as an adjective. What colored ink looks best for rulings in the books ? In what order should the entries in the Cash-Book and Day-Book be entered ? Mention a transaction which requires an entry in both Day-Book and Cash-Book. What is the next step, after writing up the Cash-Book and Day-Book ? ' Describe the process of posting. How do you post-mark the entry ? What may be done with accounts paid in full, as that of Stokes on the 7th inst. ? What do you do, after completing the posting, to assure yourself that no mistakes have been made? What do you do with the Leger, aft«r satisfying yourself of its accuracy ? How do you close accounts paid in full ? How do you close accounts which have debit or credit balances, still unsettled ? How does the ruling of the prmted Legers given differ from that of blank-books ruled for the counting-house ? How many accounts should be opened on one page of the Leger ? In what order should accounts be arranged in the Leger ? What is the Alphabet or Index ? How often are books usually closed ? What does the continuance of this Set for one month represent ? Mention the accounts on your Leger* which have balances due you. What is the gross amount of them ? * ♦ The pupil may have his own Leger and other books before him, in answering this and the foUowbff questions. Also the statements which he has drawn up to show bis net capital, net gains, &c. D 25 QUESTIONS FOR REVIEW {continuea). Mciition the accounts on your Leger whicli have balances you owe. What is tnc gi-ns.. amouui What was the amount of cash on hand at starting? Where found ? What was the value of tools at starting ? Where found ? What was the total capital at starting ? How ascertained J What is the amount of cash on hand at closing ? Where found f What is the value of tools at closing ? Where found ? What is the value of paints, oils, &c., at closing ? Where found ! What amount of personal accounts is due you ? Where found r What are the total assets at closmg ? How ascertained " • What amount of personal accounts do you owe ? Where found 7 What is the net capital or present worth ? How ascertained i What have been your gains in business ? How ascertained ( What is the amount invested by you at starting termed ? What are the various items which make up this capital called { What would the difference between your effects and debts at startmg be called? What are your available means at closing termed ? What is your indebtedness at closing termed ? What is the difference between your assets and liabilities termed r How do you ascertain your gams in business. How your losses ^ . What is to be done, if bad debts exist at closing ? [See Note on page 18.] SET II, SINGLE ENTRY. 26 «T EXPLANATORY REMARKS, SET II. When Yon have carefully pondered over the contents of Set I, so as to in^P^ess npos yornlHl th:;rinciplJsU are therein e-^--^' I^ ^^/^^ C^^^^^ referring to the Table of Contents, pages 3 and 4. CASH-BOOK, SET n. T« +!.;<, C^<,h -Book one vaae or folio of the Cash account occupies two pages of the ^o^Xltm^^^^ on the left hand page, and Cash credUs on the n,kt ^^irform of Ca^h-Book is more used than that given in Set I, and is better except This lorm o* ^^^ f^^^^ ^. balances are brought down weekly, as in Set I but by the firm— taking up a note of the firm °"**'*°^'°f. P^^^ rp^e wages of hands bit they will be readJy;ompr«hend^^^^^^^ a Me th ught The wage^^^^ employed you mUpercme^^^^^^ ^^^ ^^ |„b^ ^^^,^ itemoraSm boi bSZT the Time-Book^ Wed, to keep account of th, ""tuZi notice that money paid or received on account requires an entry in thi. Book, and also in the Day-Book, at the same time. DAT-BOOK, SET 11. ■ This book is the same in form -d geu.-! W-^^^ tl* tS::Jfraf l'" com- The statement of the forming of » P^'^"?^^^^^^ ;,7„J t^^iness, but is contained HheTS^i:: S\?^-rhr Lnr/aSt iSi shoma aWs be drawn up and signed by each partner. LEGER, SET II. anew fobo, as ^^e^™ » .^^^ r. Cash. sst: '1852. I Nov. Nov. (( (( it 1 u 8 a 9 11 To B. L. Archer, invested by bim " C.T.Marion, " " " " James Margrave, on % To Balance on band from 6tb inst. " 1 Bureau, Mahogany Veneered . , , r «* " Bills Receivable;B. Pinkley's Note, Archer s favor « James Mortley, Arm Chair for Office 60 648 60 758 00 08 00 08 674 98 2200 12500 500 Nov. <( it Nov. 15 (( 17 18 19 20 To Balance on hand from 13tb inst. 1 Pint of Varnish Staining Cupboard 1 Reclining Chair for Invalids 2 Ottomans ^^ ■•r i 1 French Bedstead, Birds^-Eye Maple 82698 648 «>2 To Balance on hand from 20th inst. "" " Steamboat Ohio Belle, part Bill of date 60 60 75 ,00 700 4'50 25 Nov. « K i< (( <^nount of them ? Mention those havingbalances the firm owe. What is the gross amount ? What is the value of the stock of furniture remaining on hajttd ? What is the value of materials and unfinished work f What is the value of tools ? What amount of Bills Receivable have the firm in possession ? What amount of Bills Payable are outstanding against the firm ? , , What are the total assets of the firm ? What the total liabilities? What is the firm's present worth ? What are the total assets, including partners* debits ? . What are the total liabilities, inculding partners' investments ? What are the net gains of the firm ? What is each partner's half of the net gains ? , , ,. , .,• • i? i. u • What is shown by the difference between the total assets and total liabilities of the firm r What is shown by the difference between the assets, including partners' debits, and the liabilities, including partners' investments ? What is shown by adding each partner's share of net gains to his account ? In a losing business, what is shown by deducting the losses of each partner from the credit balance of his account ? i i i j'lr If the net losses are greater than the credit balance of his account, what does the difference show ? What is shown by adding together the net capital of the several partners? SET III, SINGLE ENTRY. 9 41 40 ■fti .IJtiA. EXPLANATORY REMARKS, AND INSTRUCTIONS FOR WRITING UP SET IH, There are blank books for this Set intended to accompany the work, and in these I -wish you to write up the materials found on pages 44 to 49 inclusive. These materials will afford you a complete and connected history of the business of farming for a year, (except that some of the petty details, which are of constant occurrence, are omitted, to avoid an unnecessary and tiresome repetition.) In most cases the gross amounts of debit or credit are omitted, but the number of acres, bushels, &c., bought or sold, and at what price, are in all cases mentioned ; and you can calculate the amounts for yourself. This will give just the kind of practice which is needful to prepare for the actual keeping of books—for no one is qualified to keep a set of books, however well he may understand the theory of accounts, unless he is quick and accurate m making extensions, additions, and such calculations as usually occur ,in business. You will find at first, underneath each transaction recorded, an elucidation of the manner in which you are to enter it in your Cash-Book, or Day-Book, or both. But when there are several records of similar transactions, elucidations are given to one or more of the first, and omitted in the subsequent ones, in order that you may exercise your power of thought, and be benefited thereby, instead of being a mere copyist, lean- ing entirely and constantly upon a support, and ready to fall as Bocn as that support shall be removed. The Cash'Booh, Bay-Booh, and Leger used in this Set are the same in form and mode of entry as those in Set II. The blanks prepared have printed explanations on their covers, which will enable you to use them correctly, and the practice which you have now had on loose sheets of paper should give you accuracy and neatness m ail your work. It is no small accomplishment to be able to keep books free from mistakes, Erasures, and blots ; and yet all books of account (especially books of original entry) should be thus kept, for they are frequently the only means of proving important deal- ings between man and man, and if doubts be cast upon their accuracy and truthfulness, by a careless (not to say dishonest) manner of keeping them, innocent parties wUl thereby oftentimes be sufferers. First examine critically the history of every separate transaction, before looking at the elucidation, and determine, if possible, how you would make the entry, and then compare your own ideas with the elucidation given, and ascertain whether you are right —and make the entry or entries accordingly. Proceed thus, entering m both JJay-Book and Cash-Book, in order of date, until you have completed the whole year. Then post the Day-Book— re-examine, to see if rightly t)osted— close it— and Iraw off statements as before directed. The statements and deductions on page 53 wJl enable you to see whether you have performed all your work with accuracy. Teachers will find the Cash-Book, Day-Book, Alphabet and Leger, complete, in the Key to this work, which, with the directions here given, will enable even those unac- quainted with the science of accounts to guide their pupils aright in the prosecution ot this study. But all the aid an intelligent pupil needs, except such suggestions as his teacher will of course give him, is intended to be furnished m tne treatise itself, and it is far better that he should not consult the Key. 42 <£ .^ FARM ACCOUNT, SET III. This account, given on pages 50 and 51, exhibits in detail, on the debit side, the whole of your expenditures for the farm, including the expenses of your family ; and on the credit side, the whole of the proceeds accruing and arising therefrom ; and is an exem- plification of a regular Double Entry property account, except that in Double Entry, instead of being embraced under one head, it would more commonly be divided into several separate accounts, as "Dairy Account," "Wheat Field," "Family Expenses," "Interest," and the like, and thus enable you to know precisely, truly, and minutely, the whole state of your affairs, and what branches of your business are more or less profitable. This account, as here shown, however, enables you to ascertain how much you have gained by your whole farming operations, and operates as a proof upon the correctness of your books, by producing the same result. INVENTORY-BOOK, OR ACCOUNT-STOCK-BOOK, SET III. On page 52, I have given an Inventory-Book. This is a small book, used for taking an account of the value of property owned by you, at any given date, in order that you may use it in estimating your net capital, net gains, &c. Merchants take an inventory of their goods, or, as they usually call it, " take an account of stock,'* once a year at least, and every business man should inventory his property as often as this. It must of necessity be done whenever you would ascertain the true state of your business affairs. In taking an inventory, there must be a careful estimate of the value of the property, of whatever kind, and it is perhaps as safe a rule as any to affix such a price as the article would bring in market. To ascertain on what pages the Check-Book and other auxiliaries needed in actual business are exhibited, refer to the Table of Contents, pages 3 and 4. EEMARKS RELATIVE TO A MODE OF KEEPING A SEPARATE ACCOUNT OF THE FARMING OF A PARTICULAR FIELD. A As the business of farming has become intimately allied with science, the farmer of the pre- sent day frequently desires to try an experiment with some new mode of culture on a particular field ; and, as a means of testing its value, wishes to ascertain the cost of such culture, as well as the value of the crop produced. Where books are kept by Double Entry, this may be ac- complished with comparatively little difficulty ; but in Single Entry such experimental accounts can, with propriety, only be kept as memoranda. Thus : — all the expenditures on the experi- mental field, as well as on the remainder of the farm, should be entered in your books, (and on the debit side of " Farm" account, when kept,) and the receipts for the crop taken from said field, as well as from the other fields of the farm, should also be entered in your books, (and on the credit side of " Farm" account, when kept,) precisely as though no separate account were kept of the experimental field. To ascertain the result of the experiment on a particular field, an account entitled "Experiment on Field A" (or designated as the case may require) should be opened in a separate memorandum book, or on a loose sheet of paper : in which ac- count all the items of expenditure appropriately belonging to said experiment should be entered on the debit side, and the receipts from the crop on the credit side. Such items of expenditure for labor, manure, &c., as are made wholly for the experimental field, are of course to be placed xcholly to the debit of this account, and of such expenditures as are made for the benefit of the tohole farm, (as for farming utensils, &c.,) a fair proportion should be placed to the debit of this account. It will readily be perceived that the correct apportionment of those expenditures which are made for the entire farm, is essential to the ascertainment of the correct result of the experi- ment ; and that the more nearly this apportionment apprcfeches correctness, will the result of the exi)eriment as exhibited by the account, come more nearly to the truth. 43 4 HISTORY AND ELUCIDATIONS, SET III Lancaster, PenrUa, January \st, 1852. My Capital at the present time consists of Cash on hand, $6,275, and Notes which I hold against other persons to the Am't of $2,629.50. You must enter in your Cash-Book, on the debit side, the money here mentioned as on hand, thus, "To Am't on hand at commencine business," giving the date and amount The notes would, in actuS business, be recorded in a Bill-Book; but you may omit any record of thetb. as no BJu-Bo^k is given in connection with this Set. Or, if you prefer so to do, you can f^l^'^J » «^««\^«; Taper a Bill-Book like that in Set VI. Double Entry, and make therein the proper entries of these notes, Sd others which occur in this Set. You can find the name of drawer and the Ume when due, m the** notes, by the history of the payment 1st Bo't of Jonas A. Leech a Farm, containing 125 Acres improved Land and 25 Acres wood Land, with Stone House, Barn & Out-buildings complete = 150 Acres @ JlOO Til* A OTfi w > Paid him in Cash, $5,000, and gave him my two Bonds for t^<^ .^^^-^ f ^^^^M Mortgage on the Farm, one for $5,000, payable m five years, and one for $5,000, payable in ten years, each on Int. @ 6 % pr. annmn, payable semi-yearly. As Jonas A. Leech has been paid in full for the farm purchased of him, no entry need be made necessarily to Ws accent; but in s" large transactions as this, it is well to show them in the P«"°»'«/^3'^° ^J" Leeer even though paid in full: therefore you may credit Jonas A. Leech (in your Day-Book) with the fer^ and debUhfm Juh the cash and bonds given in payment, making the entry full and explicit as to lUi details When SiiT entry in your Day-Book il posted, you may rule and add up the account in the Leger, 'In thrcrh-BYok^'o" ISe'c^edit side, enter the money paid, thus, "By Jonas A. Leech, paid in part for Farm," giving the date and amount ii Bo't of Jonas A. Leech 20 Acres of Wheat, in the gromid, @ $12 pr. Acre, to be paid for 4 mos. after it is harvested. This requires a credit to Leech in the Day-Book. Make the correct extension of the amount, which if here omittod. « Bo't of Jonas A. Leech, his Horses, Cattle, Dairy Stock, Farming Implements, &c., as below enumerated : — , m.^^^ ^ -w^ -, r\ r u 1 Span Horses, one 7, the other 8 yea« old, $200 ; 1 Yoke Oxen, 5 years old $70; 5 Steers, yearlings last Spring, @ 810 ; 1 Durham Bull, 4 years old, «100, 1 Alderney Bull, yearling last Spring, $50; 3 f .^emey Herfe«, 2 years cJd Iwt Snrinff ® S28 ; 17 Cows, at an average price of $23 ; 10 Hogs, @ «*> , If I'm ill 1 Large Two-hors^ Wagon, witl Cover, $110 ; 1 Ox-Cart, $30 ; 2 P^ughs^ 1 $10 ; 1 Harrow, $8 ; 1 Horse Rake, $5 ; Dairying Utensils, Fanning Mill Com Cultivator, Pitch Forks, Spades, Shovels, Bakes, Hoes, Flails, and all other Farm- ing Implements now on the place, for the grow sum agreed between us of $65 ; Stock of Hay, supposed to be 40 Tons, @ $10; aq^a^itLtyof Corn Fodder and Straw, $30; 110 Bush. Wheat @ $1 , 260 Bush. Com @ 50/^; 100 Bush. Oats @ 35>I 1,000 Bush. Turnips @ 12^; 10 Bush. Euta Bagas @ 25 f- 20 BoBh. p , ^-s or A |p^,liO.DU Paid'wrin Cash, $625, and a Note against Geo. Wheaton, my fa^or, @ 6 mos^due Feb. 10th, proximo, for $355; agreed to pay him in Cash, on the 1st of next Max., $500, and the Bal. 8 mos. from date. T .v Ti II V j» t«n«. * T.««ch for «11 the aboTe purchatei, girlng taU p«itical«r» in syrtemsdo orSr T^Ta sT^aratf ni ?o" tclZv^Zel^ enumerated, placin^g the amount of it at the left of the tC Jdle'nt Xmn Add up these se'veral amounts, and extend ^e toUU mto the dollar and cent column. Debit him with the Cash, and with the noto of Wheaton which you pay hun. In the Cash-Book, enter the money paid him, on the credit siae. (( Aereed with John Jones to work for me on the Farm, at anyand all kinds of Farm C for one year, @ $12 pr. mo. ; Bernard Samson do., @ $10 pr. mo. ; Patrick iSwuLd @ $8 prTmo. ; and Lewis W. Gregory, boy, @ $3 pr. mo. ; also h«ed 44 HISTORY AND ELUCIDATIONS, SET III. 2 Lancaster, PenvUa, January \st, 1852. Margaret Wilson as Dairy-woman, @ $5 pr. mo. ; Peggy Morrison, Milk-maid, @ $4 pr. mo. ; Charlotte C. Bryant, Cook, @ $5 pr. mo. ; aU to be paid monthly. Total, $47 pr. mo. This requires no entry in either Day-Book or Cash-Book. It is merely inserted here to preserve the con- nected history of the whole business. - . ., ^. xv v *v c * The paying monthly is introduced in order to lessen the number of similar entnea through the Set; although usually females employed, and sometimes men, are paid weekly. - 2d Bo't for Cash, 75 Bush. Potatoes, @ 35 f, and 1 Bbl. Sweet Potatoes, @ $2.25. ^ Enter the above upon the credit side of your Cash-Book. 3d — Bo't for Cash, 10 lbs. Beef, @ 10/^, and 5 lbs. Nails, @ 5/. Enter this precisely similar to the last In the next transaction of the same kind, I shall give you no uueeestions as to entering it. , ,.- , ^ t i. « • i «■ Such entries would be of almost daUy occurrence in actual life, but I shall give only a few, as specimens. If I should write out all the detailt of a farmer's life for a year, it would extend this Set to an unreasonable length, without any real advantage. « Sent 30 Bush. Wheat and 25 Bush. Corn to Wm. Jacob's Grist Mill, to be ground. The miller takes toll out of the grain sent, to pay for grinding. No entry required. _ ■ 10th Bo't of Orrin Woolworth, 1 Rockaway Wagon, with two seats, which can be used with one or two horses, for $150, to be paid for in grain. Sold him on %, 20 Bush. Wheat, @ $1.05 pr. Bush. Credit Mr. Woolworth in your Day-Book, with the wagon purchased, and debit him with the wheat fur- nished. Specify also that he is to be paid in grain. As a general rule, it is well to mention any important fact in reference to the bargain in making entries in your Day-Book. (( Bo't for Cash of Sundry Persons, as pr. Bills, J Bbl. Pickled Mackerel, $6 ; 3 Bbls. Pork, @ $12; 200 lbs. Sugar, @ 5/^; 200 lbs. Sugar, @ 7/^; 20 lbs. Loaf Sugar, ® 11 /? ; 5 Gals. Molasses, @ 30 /^ ; 1 Gal. Sugar-house Syrup, 50 /^ ; 10 lbs. Tea, @50f; 2 Sacks, 320 lbs. Coffee, @ 10)^; 2 lbs. Saleratus, @ 12^/; 4 lbs. Rai- sins, @ 122 ^^ — 24th — Sold to Ebenezer Failing, 5 Tons of Hay @ $15 pr. Ton. ^ • He paid me in part by 20 Bush. Buckwheat, deUvered at Jacobs Gnst Mill, @ 55 f, Mr. Failing must be debited with the hay, and credited with the buckwheat. — 31st ; Paid in full all the Hands employed by me, according to agreement, of 1st inst., $47. When the record is " Paid" simply, as in this case, without mentioning how, you are to consider it a cash payment, and enter it accordingly. February 4th Bo't for Cash, 1 quarter of Veal, 15 lbs., @ 7/; and 4 lbs. Beef Steak, @ 10/^. 17th Exchanged my horse Bill (8 years old) for a better match to my other horse, of the , same age, (7 years,) and paid in Cash the difference in value, $10. Here you need only to enter in the Cash-Book the difference in value of the horses, paid in money. 21st Gave to my wife as Shopping Money $25. Enter, same as any other expense, on the credit side of tho Cwh-Book. 45 4 8 HISTORY AND ELUCIDATIONS, SET III Lancaster, Penn'a, February 28th, 1852. Isaac McGuigan has paid me his Note, my favor, due this day, 8500. Enter on debit side of Cash- Book. u Paid Hands in full, pr. agreement, $47. 1852 ia leap-year, and February has 29 days, but the 29th is Sabbath, and all payments falling due on that day must be made the day previous. — March Ist Paid Jonas A. Leech, on % of Stock, Farming Implements, &c., Bo't Jan. 1st, $500. Place this on the credit side of your Cash-Book; and also debit Mr. Leech with it in the Day-Book, as be WM credited .dth the whole stock and implements when they were purchased of him on l«t January. . 16th Bo't for Cash, to use as manure, 2 Tons Peruvian Guano @ $45 pr. Ton ; 2 Tons Patagonian Guano @ $25; 1,000 Bush. Lime ©10/^; and 100 Bush. Bone Dust @50/^. Enter in Cash-Book only. 31st ' Paid Hands in full, pr. agreement, $47. , Discharged Patrick McFarland, because I find him untrustworthy. April 5th Sent 60 Bush. Wheat to Wm. Jacobs' Grist Mill to be ground. No entry required. . - 13th — Sold my Durham Bull to Caleb L. Rodgers, for $125. Received of him Cash $50, and his Note @ 4 mos. for Bal. Bill-Book. (( Killed one of my Steers. Sold for Cash the 2 Fore-quarters of Beef, 200 lbs. @ 7 1> , 1 HiXuarter, 95 lbs., @ 8/^; 10 lbs. Tallow @ 8/; and reserved the Bal. for use. Gave the hide to the Butcher for Killing and Selling. Enter receipts of money in the Caah-Book. ^ 30th Paid Hands their Wages in full, $39. May 1st Sent my Horses to Ebenezer Failing, Blacksmith, and had 4 New Shoes put on @ 31V ea.; 4 reset @ 12^/ ea. Credit Mr. Failing in the proper hook. - 19th ■ Ebenezer Failing has put New Coulter in my Plough and 2 New Teeth in the Harrow @ $2.50. ^ . 25th t "■ Sold Ebenezer Failing, on %, 8 Bush. Seed Potatoes, @ 50/. Debit Mr. Failing in the proper book. — Slst Paid Hands in full, $39. Also Paid 6 d's.' Work of Day Laborers @ 75 ^ ; Hired Two New Hands for 3 months from date, at $14 pr. mo.-names, George Mnnson, and Wm. Patterson, Jr. . , ^ .i.„ i i,.^ Enter in the C«h-Book only what 1. paid. It would be well for "«rr f.™er wd .Tejr »*«*"»;;* K^Tatte-SrcT^' l^^r^*" iJi! r-^M^^^ to be left entirely to the memory, because this often causes disputes and broils, when a few lines in wriUng, done at the time, would satisfy all parties. 4» HISTORY AND ELUCIDATIONS, SET III. * Lancaster, Penn'a, Jujie 1st, 1852. Rec'd Gash of Timothy Tumbleston for his Note, my favor, due this day, $520. All receipts to be placed on the debit side of Cash-Book. — Ist — Bo't 6 First-rate Milch Cows, with Calves, Alderney Stock, @ $50 ea., of Geo. T. Lipman. Paid Cash, $150 ; Bal. due 1st Sept. Credit Lipman with the cows, and charge him with the money paid, in the Day-Book. Also enu^r in Cash-Book correctly the money paid out. 30th — Paid Wages in full, $67. Also paid to Jonas A. Leech the Interest on my 2 Bonds, given in pay't of Farm, . ea. for $5,000 = $10,000 @ 6 %, for 6 mos., $300. All payments to be entered on the credit side of Cash-Book. July 9th Rec*d of James McClain, Cash in full for his Note, my favor, due this day, $625. 10th Bo't of Peter A. Phillips a Market Wagon and Horse for $175. Paid in part by a Note I hold against Mulford & McKee, due Aug. 15th, for $110, and agreed to pay the Bal. on the 1st of Jan. /53. Credit Phillips with the wagon purchased and debit him with the Note. - 15th Paid 4 days' Work of Men to help at Harvesting @ $1.25. ^ 31st Paid Wages in full, $67. Paid Cash for Marketing, $3.50. - August 17th 25th Sold Caleb Cope 2 of my Steers @ $25 ea. When no mention is made of payment, take it for granted nothing is paid, and debit the person accordingly. 28th Sold for Cash, to a Prover, my 2 remaining Steers @ $15 ea., and 12 Calves (all except my Alderneys) @ $5 ea. 31st Paid Wages of Hands to date, $67. George Munson and Wm. Patterson, Jr. left to-day. — September 3d Rcc'd of G. M. Wharton, Esq., Cash in full for Notes, placed in his hands Mar. 11th for collection, to wit : — One drawn by John Thomas, due Mar. 3d, for $250.00 Int. on same to date, $7.50. One drawn by James B. Babcock, due Apr. 3d, $269.50 Int. on same to date, $6.74. \ Paid him fee for Professional Services, $50. Enter in the Cash-Book, on the debit side, the money received for notes and interest, and on the crodit side the money paid for professional services. 4th Paid Jonas A. Leech in full for Bal. due on Stock, Farming Implements, &c. Bo't of him on 1st Jan. last, $633 50. The elucidation of Mar. Ist will apply to this entry. 47 iBk". TBPf 5 HISTOEY AND ELUCIDATIONS, SET III. Lancaster, PenvJa, September 16/A, 1852. E. B. Holden & Co. have this day sent me a Bill of Sundi-y Articles of Children's Clothing and other Mdse. obtained at their Store since April 1st, Am't $62.25. E B llolden k Co. must of course be credited with this bill of Mdse. - U . 30th Paid Wages of Hands in full to date, $39. " 12 days' Work @ 75 / . October 2d ■ — ''♦■ Bo't of E. B. Holden & Co., on %, Mdse. as pr. Bill, $10.75. Purchases on account to be credited the person of whom you buy. . — (( ■ Sold E. B. Holden k Co. on % 600 lbs. Butter, in Firkins, @ 16/; and 225 lbs. Cheese, @ 8 /. Sales on account to be debited the person to whom you selL 12th — — Sold Mrs. Sarah C. Dermott 50 Bush. Potatoes, @ 35/^. (Will pay in three mos.) — 15th Stedman & Williston have this day finished threshing my Wheat, furnishing a Thresh- ing Machine, 1 Man and 2 Horses. They threshed 600 Bush, and charged 6/? pr. Bush. Credit the firm who did the work. 23d Peggy Morrison, the Milk-maid, left me this day sick. Think I shall be able to get along without hiring another at present, by letting Patrick and Lewis milk. Paid Peggy 3 weeks' wages, $3, and made her a present of $3, as she had been a good girl, and is now sick. Enter same as any of the other payments of wages. 26th Sold for Cash to Wm. R. Patterson, 375 Bush. Wheat, @ $1. 30th Paid Wages of Hands in full, $35. The Slst is Sabbath. — November 3d Sold Orrin Woolworth, on %, 50 Bush. Potatoes, @ 35/; 50 Bush. Wheat @ $1 ; and 50 Bush. Oats @ 35f. « y _• Paid Cash for a Suit of Clothes for self, $30 ; Dresses for Wife, $25 ; Children's Clothing, $20.15 ; Crockery, $15.40 ; and Groceries, $18.25. » 17th • Paid Jonas A. Leech for Field of Wheat Bo't on Jan. 1st, as pr. agreement, $240. See entry of the purchase, Jan. Ist, and elucidation of Mar. IsL 27th Richard P. Simpkins finished chopping wood on my Farm to-day. He has cut 50 cords, @ 50 /^ pr. cord. . Paid him in part by an order on E. B. Holden & Co., for Dry-Goods out of their store, to the Am't of $10 ; and Cash $10. The Bal. remains unpaid. Credit Richard P. Simpkins with whole amount of the chopping, and debit him with ord«r and cash. Then credit E. B. Holden k Co. with your order, faror of Simpkins. Enter the Cash also in Cash-Book. 30th Paid Hands their Wages in full, $35. 48 HISTORY AND ELUCIDATIONS, SET III. 6 Lancaster, Penn^a, December 3c?, 1852. Sold E. B. Holden k Co. on %, 20 Cords Wood, delivered at their Store, @ $3. 7th Eec*d of Caleb S. Rodgers Cash in full for his Note of Apr. 13th, @ 4 mos., due Aug. 16th, $75, and for Int. from Aug. 16th to date, $1.39. ' Enter in Cash-Book the whole amount received for note and interest As no account was opened with Mr. Rodgers on the Z3th April, (which see,) he is not to receive any credit here. u Paid Geo. T. Lipman Bal. of his %, in full, due Sept. 1st, $150 ; and Int. on same from Sept. 1st to date, $2.40. Credit Mr. Lipman with interest on his account, and dehit him with the payment in fiilL 14th Rec'd of Caleb Cope Cash in full of his %, $50. (4 Sold Stedman k Williston on %, 100 Bush. Corn @ 50 f, 20th Sold Richard P. Simpkins on %, 5 Bush. Wheat @ $1. 25th Sold Caleb Cope 2 Aldemey Calves @ $15 ; 1 Alderney Cow @ $60 ; 1 Yoke Oxen @ $75. See Aug. 25th. 28th Sold for Cash to Wm. Jacobs, 750 Bush. Oats @ 35^; 800 Bush. Corn @ 55/; 50 Bush. Buckwheat @ 60 f. u . Paid the following contributions to charitable objects : Bible Society, $20 ; Tract Society, $20 ; Foreign Missions, $20 ; Home Mis- sions, $20; Sabbath School Union, $20; For building Churches, $100; To our Pastor, $50. AJso paid Schooling of William and Mary for one year @ $75 ea. ^ Cash-Book entries. ^ 30th Sold in the City of Philada., for Cash, 1,725 lbs. Cheese, @ 9/^; and 900 lbs. Jur- kin Butter, @ \%f. Paid Freight and other Expenses on same, $11.55. 31st Ebenezer Failing has this day rendered me a Bill for repairing Wagons and Fanning Implements, Shoeing Horses, and other Blacksmithing to date, $53.75. « Paid Anson Holcomb, Cooper, for Bill of Butter Firkins, Cheese Boxes, and Cooper- ing, during the past year, $26.25. Paid Wages in full, $35. (( a Paid Int. on Bonds & Mortgages, favor of Jonas A. Leech, $300. (( Rec*d of Simpson Treat, Milk-man, Cash fpr 9,500 quarts Milk furnished him during the year, as pr. agreement,. taken by him from the Farm each morning, @ 3^ pr. quart. G 49- Dr, FARM ACCOUNT. Farm. 1852. Jan. u ti u ^ 10 lbs. Tallow - - - - . ' @Sf^ 8 Bush. Seed Potatoes - - - - - @ 50^ 2 Steers @ $25. 2 " sold Drover - - - - - - @ $15. 12 Calves" " - . . . • @ $5. Interest on Notes collected - - - - - - - Butter k Cheese -------- 50 Bush. Potatoes @ 35;^ 375 " Wheat - @ $1. 50 " Potatoes - - - * - ' - - @ 35/^ 50 " Wheat @ $1. 50 " Oats @ 35/^ 20 Cords Wood - - - - ' - - @ $3. Interest on C. L. Rodgers' Note - - - - - 100 Bush, Corn - - - - - - @ 50)^ 5 " Wheat - - - - . - - @ $1. 2 Alderney Calves - - - -- - @$15. 1 " Cow - 1 Yoke Oxen - - - - -- -- 750 Bush. Oats @ 35^ 800 " Corn ® b5f^ 50 " Buckwheat @W 1725 lbs. Cheese @ 9/^ 900 « Butter - @ 18;^ 9,500 qts. Milk @ 3/^ Value qfFarm^ Stocky ^<^,^r. Inventori/ Or. 21 75 125 00 00 00 14100 60 80 00 00 7 4 50 o S0!00 6o;oo 14!24 114-00 17'50 375 17 00 50 50,00 1750 6000 139 5000 5J00 3000 6000 75100 26250 440|00 80 155 162 00 25 00 285i00 2,609j28 18,143 04 $20,75232 ^ 60 61 I INVENTORY-BOOK, SET III. l! '^• @$60. $45. (( " S2 Inventory of my Property, Dec. 31st, 1852 : 1 Farm of 150 Acres, worth $10 an Acre more tlian when I bought it, owing to good cultivation ; but which I will value at the original cost, JlOO. pr. Acre 1 Span Horses 1 Horse 1 Alderney Bull, 2 years old, 2 " Cows, 6 " Do. 16 Common Do. (1 died) 7 Alderney Calves, 8 Hogs, ; 20 Pigs, 1 Rockaway "Wagon 1 Large Double Wagon, with Cover Market Wagon $70., Ox-Cart $25. 2 Ploughs, Harrow $7., Horse-Rake $4.50 Fanning Mill & Corn Cultivator Dairying Utensils, Forks, Spades, Shovels, Rak6s, Hoes, Flails, and other Implements, valued at (( $15. $6. $3. $250.00 100.00 120.00 120.00 270.00 320.00 105.00 48.00 60.00 142.00 100.00 95.00 '@$7.50 15.00 11.50 23.00 40.00 170 Bush. Wheat, 250 " Corn, 150 " Oats, 40 " Buckwheat, 115 " Potatoes, 48 Tons Hay, 3 Stacks Straw, Quantity of Corn Fodder 210 lbs. Butter, 154 " Cheese, 1,125 Bush. Turnips, 130 " Ruta Bagas, 25 Cords Hickory Wood, Quantity of Stable Manure @$1. 35/^ 55/^ 85/ $10. $9. (( u « (( @W " 9/ " Wf « 25/ « $3. Total 170.00 125.00 52.50 22.00 40.25 480.00 27.00 42.00 37.80 13.86 140.63 32.50 75.00 65.00 15,000 00 1,393 00 426 60 1,323 $18,143 54 04 52 DEDUCTIONS FROM SET HI. UNSETTLED BALANCES ON THE LEGER. Debts due me. Ebenezer Failing Caleb Cope E. B. Holden & Co. Mrs. S. C. Dermott Stedman & Williston Debts I owe. Orrin Woolworth Peter A. Phillips 44 00 65 00 $109 00 Capital at Starting^ Cash on hand, pr. Cash-Book, at starting Notes held against others, u u Present Worth. Cash on hand, pr. Cash-Book, at closing Property owned by me, pr. Inventory-Book, Personal accounts due me, pr. Leger, 6,275.00 - - 2,629.50 Capital $8,904.50 888.63 18,143.04 297.50 Assets 109.00 $19,329.17 Deduct liabilities, viz. : — Personal accounts I owe, pr. Leger, - - - - . Bonds & Mortgages Payable, [See entry of the purchase of Farm, on the 1st of Jan., 1852.] - . - . 10,000.00 $10,109.00 Present worth, or net capital at closing Net Grains in Business. Net capital at closing business Deduct net capital at commencing $9,220.17 $9,220.17 8,904.50 Net gains $315.67 From the above statements, you will perceive that : — The amount invested by you at starting business is termed capital* Your available means at closing are termed assets. Your indebtedness at closing is termed liabilities. The difference between your assets and liabilities is termed net capital or present worth. (Or, if the liabilities be the greater, net insolvency.) Also, By taking your capital at starting from your present worth, you may ascertain your gains in business. In a losing business. By taking your present worth from your capital at starting, you may ascertain your losses in business. d!ff.Jnn!7I".°'" '*?? ' ^^^*'^™;^^« "P t^'8 <»Pital are called effect,; and if you owed debte also at gtan.ng, the «^ii^?»e«c amount of your efFecta and debts would be caUed net capital, or, if the debts were the greater, 63 ! QUESTIONS FOR REVIEW, SET HI. O, what Wess do the n.aterial<. on pages 4* «» ff ''-^iltl^t^^^^^^ ?„- lurf";:- X" Srof wC^^tr^^^ -a^-aing the th^^of Whrwm you find an elucidation of the manner of entering any transaction recorded in the hia- ?;SS^nrnf^rait^tXtLir^^^^^ -..to he AVhS ifto be done after the Cash-Book and Day-Book are completed ? What after finishing the posting ? What after re-examining the postmg ? What after closing the Leger ? "What test of accuracy have you? What is the Inventory-Book ? i v ? What is exHbited on the debit side of the Farm account 1 ^ ■ What on the credit side? ..9 Of what is this account an exemplification f What does the account as here shown enable you to ascertain ? Of what is it a proof? . Mention the persons who owe you on closing business. What is the gross amount ? Mention those whom you owe. , What is the gross amount? , , ^ _,. « What amount of cash was on hand at starting : What amount of notes did you hold against others \ ^:: r„:^ sirs t t:^t^L.y^^r>^^^ of pro^^y is owned hy you r What amount is due on personal accounts ? _^ • ^ 9 T^. - ttTiS:^it:i3ao y^ow^jTo^ .»ch on honds and mortgage. T What are the totalliabilities? How ascertained ? „„,^.rt.i„cd? "'' What is the present worth or net capital at closing ? How ascertained I What have b^n your gains in business ? How ascertoined ? What is the amount invested by vou at starting termed ! ■m»t are the various items which make up this capital called : , „,. wl w^uld thTdlfcrence between your effects and debts at starUng be called? What are your available means at closing termed C What is your indebtedness at closing termed ? What is the difference between your assets and liabilities termed? How do you ascertain your gains in business. H^^.X^f ^^!f '^^ ig 1 AVhat is to be. done, if bad debts exist at closing ? [See Note, page ic.J 54 SET lY, SINGLE ENTRY. I HAVE given a Crew's Leger in connection with the Western river Steamboat Set of books, pages 200-203, for keeping accounts with the hands on board the boat, and the form of accounts there shown is so simple, that I concluded, in revising for this edition, to give here an illustration of the same method, for the use of persons whose business is very limited, and who may prefer to adopt it. It is to use a Leger only, ruled like the Oash-Book to Set I, [page 19,] and to enter directly in it all the debits or credits to the different parties with whom you have dealings, without the intervention of the Day-Book. The Cash account may be kept in a portion of the Leger, instead of having a separate Cash-Book, and any property accounts may be also kept, if desired, as well as in the preceding Sets given. ,, , .1 I have omitted the Cash account, because its form and treatment would be precisely like Cash-Book, Set I, above referred to ; and also, to save room, have omitted all statements, deductions, &c. Indeed, I have not endeavored to make the Set complete, as I do not intend it to be written up. You will be able at once to comprehend it, by a mere examination, after having progressed thus far. The Index (here omitted) would of course be needed, for convenient reference to the Leger. 55 LEGER, SET IV. James B. Ltmghead. 1862. Dec. u i( u (( u u 1853. J&n. 3 (( 23 27 31 To Re-setting 4 Tires to Wagon " Mending King Bolt 2 Nuts to Bolts Shoeing Oxen, $1.50, Clevis 37/ 6 Iron Wedges, different sizes, Mending Eye to Trace Chain By 4 Bush. Potatoes @ 35 / " 16 lbs. Butter @ 20 >? " Bal to New % u To Bal. from Old % Herman Logan. 1852. Dec. 4 « 11 i( (( a 18 u 25 « 31 n « By 4 days' Work @ $1. « 52 " « *' $1. To Cash on % 5y 43 days' Work @ $1. " 5 " « " $1. « 31 « « « JL To Cash in full Orlando Chase. 1852. Dec. u ii u u u ii a a a C( 1853. Jan. 10 a 16 21 24 30 31 (( By 4 lbs. Tea® 45)^ " 1 " Allspice « 2 " Raisins® 12V To 5 " Wrought Nails for Doors ® 25f " Iron Bar for Store Windows By 20 lbs. Brown Sugar @Vf " 10 " Coffee "9/^ " 1 Gal. Molasses " 14 Yds. Merrimac Prints ® 12'/ « 30^ " Lowell Sheeting " 10 / " Bal to New % By Bal. from Old % Dr. Cr. 1 3 00 25 13 87 38 10 8 73 13 1 3 8 40 20 L? 73 Mrs. Mary Pennington Dr. Cr. 6 00 16 400 550 22 50 50 4|75 500 325 2250 Dr. Cr. 25 88 7 65 9 78 1 1 3 80 13 25 50 90 40 75 05 9 78 65 Dr. Cr. ^"66 a a a u a (( a a u a a a a it a a li n a a n a LEGER, SET IV. Wendall A. Lyons. 2 1852. Dec. 6 (( 7 (( (( (( 9 (( u (( 17 « u u 20 a 22 1853. Jan. 25 27 it 28 29 « (C i( 30 ti a 31 ii Xi ii ii ii a a li a To 4 New Linch-Pins " 1 Pr. Iron Hinges for Bam (( -^ ii ii a ii a " Ironing Cart, as pr. agreement " Mending Plough " Repairs to Carriage By 10 Bush. Wheat @ $1. " 4 " Corn " bOf " 20 lbs. Cheese " If To Mending Log Chain Shoeing Horses, 5 New Shoes Ironing York Wagon in the best manner, as] agreed, " Making 3 Screws and Nuts " Mending Stirrup to Saddle " 4 New Teeth in Harrow " Irons on Whipple-trees By Cash on % 15 Bush. Potatoes ® 35 )^ " Oats " 40/ To Log Chain " 1 Small Bolt " Mending Iron Kettle " Repairing Sleigh, as agreed " By Cash on % To Putting Bands on Beetle 3 Strong Latches to Barn Doors 1 Bolt for Pump Mending Shovel " Manure Forks Staple & Ring for Hitching-Post Repairing Wheel-Barrow By Bal to New % / " 3 ii ii ii ii ii a To Bal. from Old % Dr. Ci. 38 75 62 10 50 125 313 25 156 25 00 45 10 75 00 2 50 16 44 4 25 50 13 19 31 62 38 94 5716 12 31 10 00 2 00 140 20 00 5 1 25 20 5 00 12 57 81 16 1852. Dec. 10 15 Wilson P. Jones, Jr. To Shoeing Horses, 4 New Shoes ® 31V 4 Shoes, reset, " 12V " Repairing Wagon By Cash in full Dr. Cr. H 1.25 .50 57 1 2 75 25 00 00 00 1||Sf I i$n3»i^«» d^^^^U^ BY & 59 1^ INTKODUCTION • TO DOUBLE ENTRY BOOK-KEEPING. Book-Keepinq by DouUe Untry is the keeping of accounts in such a manner that each entry contains hoik a debit and a credit, and hence the name. BooK-KEEPiNQ by Single Entry, as already explained, embraces only the accounts of persons ; but, in Double Entry Book-keeping, persons and things are alike debited and credited, and accounts are kept, not only with individuals, but also with the different species of property in your possession, and with the different branches of your gains and losses in business. All accounts are representative, of whatever name or descrip- tion ; thus, accounts kept with persons represent your business relations with those persons, accounts kept with the different species of property in your possession repre- sent your business relations with those different kinds of property, and accounts with the various branches of your gains and losses represent you as gaining or losing in business. The distinguishing feature of Double Entry Book-keeping consists in carryinf^ out a mathematical principle of equilibrium, under the titles of debtor and creditor, or of debits and credits. It is this : In amount, every debit must have a credit, and VICE VERSA, every CREDIT A DEBIT.* The particular method or form in which books are kept is not essential, so that they conform to the principles of Double Entrv, and preserve strictly the equilibrium of debit and credit. The Origin of the science of keeping books by Double Entry has been a matter of much speculation by different writers on the subject, but nothing definite can be ascer- tained respecting it. McCulloch, in his Commercial Dictionary, says "it was first practised in Venice, Genoa, and other towns of Italy, where trade was conducted on an extensive scale at a much earlier date than in England, France, or other parts of Europe." Kelly, in his treatise on Book-keeping, published in London in 1833, (first edition in 1801,) says, " it is generally supposed to have been first practised at Venice in the fifteenth century, when that city was the grand emporium of Europe :" although he adds, "it is remarkable that the first European who translated Algebra from the writings of the Arabians is also supposed to have written the first treatise on Book- keeping. It was published in the Italian language at Venice, about the year 1495, by Lucas de Burgo, a friar, who likewise wrote several useful works on mathematical subjects." Colt, in a lecture delivered at Boston, says that the Italians " most likely picked up, among other things, all they ever knew of Double Entry Book-keeping, at Constantinople, Alexandria, or some other eastern city, whose traders more anciently may have practised it in their commerce with northern Africa, Hindostan, and the countries bordering upon the Red Sea:" — and thinks it more likely that the Hanseatic merchants are the inventors of Double Entry than the Italians. To whomsoever the credit properly belongs, the Italians have pretty generally received it, and that system of Double Entry which is shown in the first part of this * Recollect that this eqnilibriom is an eqailibrinm of amount, and not in the number of debits and credits. On« debit may be balanced by several credits, or one credit by several debits, if the gross amounts in each case ar<» eouaJ 60 iNTRODUCTIOIf. - | Blout'TThf l'""^! *''%^»y-Book in history form, (originally called Waste-Book or Since the publication of the first work at Venice, there had been, previous to 1810 .ccordmg to /,fer, of Brussels, "150 authors on Book-keeping in 'dVerent parts of Ital71dTfnt°°! ^' '"^r^"'''' ^^ '" 9'"^'"''^' 25 i" France, 7 in Holland, 3 in Italy, and 30 m England. Subsequent to that time, it is not improbable there have Tb? r^r^V^K-'" '? 'u' '"''J^?' -""^ '^^' •">«»''y ^' '^^ently had its full sharl! •n Ki- T °I .t'"\'°:^ .'>'« examined upwards of 20 different treatises on Book-keep atrgiiVnty ''^*^^ ""^^ ''''' *^<='-- «^ ^ '-^^ -''- 0' -^' .nJ''®'"^ ^"""^ ^''^n «0"8"»i" improyements in the method of keeping accounts, and very htnm^d^ fir f^ "^T^' fr "^ ^y'T'' '^1"'^«*J; •>»* tl"^« improvements have bv nn ™f ' I .* """^ Pf'v^'y P'**"'"*' accountants, and writers on the subject have by no means kept pace with the progress that has been made. it ■^\VtSl»'l''^ Y" ^''° f^Pio^j^ the first three Sets here shown, because )t 18 the basis of all other forms, and therefore the best form from which to earn the Da! Ck't' °^*'•' /f"""- J'^ ■"*'" ^'^^^ of '^''J' '^ already stated are tJe Day-Book, Journal, and Leger. More or less auxiliary books are used in connect on with these according to the nature of the business transacted; but as a knoXd "e of K^« Lf rr " ?«'y °''*T\^' '' '' »°* *''"S''* ^'^ ^ encumber the mind of the the work TnH "/"Jl ""^'tV THE DAY-BOOK. '\>s The Day-Book, in the Italian method, is a plain history of your business transactions, \^ritten in the order and date of their occurrence. It is necessary to open the Day-Book by giving therein a statement of your effects at the commencement of business, and also of what debts you owe. Afterward record in detail every transaction that occurs in the course of business, making the entry, in history form, in as few words as possible, and have it complete. [See Day-Book, page 66 ] , m THE JOURNAL. The Journal is used for arranging under Leger titles the entries that have been pre- viously made in the Day-Book, and for affixing to each Leger title the correct amount of debit or credit, which is called journalizing. This is done that the accounts may with ease be collected under their proper heads in the Leger. There are various styles of Journal. The one given with this Set has two dollar and cent columns, one for the debits and one for the credits. The debtors are written first, commencing at the left-hand marginal line, and having their amounts extended into the debit column. The creditors are designated by commencing at a short distance from the left-hand marginal line, by being prefixed with the word " To," and by having their amounts extended into the credit column. [See Journal, page 68.] THE LEGER. The Leger may be appropriately styled the grand reservoir of accounts, into which all records in the other books flow as naturally as streams to the ocean. It may also be styled the bimness-man s directory, from which he can refer to the details contained in the books of original entry, with the same ease as he would trace out the residence of a friend by searching the street an 1 number in the City Directory. Its principal use i8 to collect under one head all sums belonging to the same account. Copying from tho Journal to the Leger is called Posting. By examining the Leger, and tracing out a few postings, you Avill see that there are spaces ruled for particular purposes— viz. for the date the name of balancing entry to each debit or credit, the folio of Journal, and the amount— and that the form and mode of entry in a Double Entry Leger is very nearly similar to Single Entry. Note — « By " whenever uped in anv of the books, is the vr^fix at the debtor, although (cencrally placed on U»e cwditor lid* of Ui •ooount ; and " To" ia tbei>r^ of the crediU>r, although generally placed on the debtor side of an account. BILLS RECEIVABLE. Bills Receivable may be defined as follows : ' Ist. A note in our possession, drawn by another person, payable to us or order. 2d. A note drawn by another person, purchased by us, although not originally made payable to us. j j • • x 3d. A draft or bill of exchange drawn by one party on a second, and coming into our possession as a third party, whether accepted or not. 4th. Our draft on another, accepted by him and retained in our possession. 64 BILLS PAYABLE. Ist. Our note payable to another person. * - 2d. A draft or bill of exchange on us, and accepted by us. 3d. Any bond or obligation in contract, with our signature, and requiring payment of us. Non 1. — Notes are raid to be negotialle when they are drawn in such form as to be trant/erdble teom one party to another, and may be collected by the lagt party to whom tranpferrtd. Note 2. — The above definitions of Bills Receivable and Bills Payable have been here given, to enable the student more readily to eomprehend them in future entries; and when he has any difficulty in determining what shouild be called Bills fAy. or B'^^# B«c4 h* will do well to read them over. INSTRUCTIONS FOR WRITING UP SET L Write Set I on loose sheets for practice, (prior to writing Sets II and m in the blank books which accompany this treatise.) Rule sufficient paper for the purpose after the forms shown, and then copy ofi* all the entries in the printed Day-Book. Journalizing. — From this Day-Book, so copied, make out your Journal, relying as far as possible upon your own reasoning powers, in the application of the general rule for journalizing and of the explanations contained on the preceding pages. When you cannot determine the correct entry yourself, you may refer to the printed Journal, and pattern after it, but in every such case, as well as where you make your own entry, you should carefully read over the elucidation found underneath the entry, in the printed Journal ; and make the reason of each debit and credit perfectly understood before you proceed to the subsequent entry. I cannot too firmly impress this upon your mind, for the clear comprehension of the whole science of Double Entry hinges, as it were, upon a thorough acquaintance with the principles of journalizing ; and although the Journal is now often laid aside in actual business, yet you must thoroughly understand how to use it, in order to be able to do without it. Opening the Journal. — The name usually given to an individual in business by himself is Stock, and his books are called Stock books, in contradistinction to Partner- ship books : you may therefore consider Stock as your alias, and debit and credit youp- aelf under that title. On opening the Journal at the commencement of business, debit each person that owes you for the amount of his indebtedness, and each species of pro- perty in your possession for its value, thus expressing their obligation to you ; and credit Stock (yourself) for the whole amount of your effects invested, consisting of this indebtedness of persons and value of property. Again, debit Stock (yourself) for all your indebtedness ; and credit each person the amount you owe him, and each property account the amount of your obligation, as shown under that head. Your own name can be used instead of Stock, if preferred. When two or more persons are associated in business, their books are called Partner- ship books ; for the method of opening which, see Set IV. For instructions on posting, see page 73. Hon 1.— The total fbotin/ Sold to James Melrose, for his Note @ 30 days, 190 Yds. Ass'd Eng. Cassimeres @ ?1.1d 5th Sold to Philip Somers on % _ *„ -- 175 Yds. Blk. Eng. Cloths @ ?3.75 22040 (( s/ Bought of Nathan S. Eaxon, for Cash, 225 Yds. Blue Eng. Cloths @ $3.25 656 25 V — 6th 731 25 Bought of James Walton, on my Note @ 60 days, 350 Yds. Blk. Fr. Cloths @ $4. 195 " " " Cassimeres @ $2. 200 " " Eng. Do. @ $1- 1,400.00 390.00 200.00 8th 1,990 00 ^ Bought of Elihu Barnes on %, ® 90 days, 238 Yds. Ass'd Fr. Cassimeres @ $1.25 9th Sold to Wm. Alexander 250 Yds. Blk. Fr. Cloths @ $5. - Received in Payment, Cash, 45U.UU His Note, @ 30 days, for the Balance 800.00 l,i2oU.UU 297 1,250 ^^0 00 — 12th V / Sold to Thomas Carpenter k Co. 195 Yds. Blk. Fr. Cassimeres ©g^J^ Received Cash in part payment loont^ The remainder sold on % JLd»WO 438 75 13th Paid Cash to L. W. Camden, for repairs of Store 50 00 ♦ These check-msrks indicate that the entries haye t««> 3onrn«li«ed and sh^ be plwed oppodte etch atoTs^nMittatmurftowdtotheJournaL Some use the Journal foUo instead. 12,069 15 v/ ^/ DAY-BOOK, SET I. Philadelphia, January Vdth, 1852. Am't Bro't forward Sold to Martin Pemberton, on %, 125 Yds. Blue Eng. Cloths @ $4. 20th . %/ %/ Sold to Philip Somers 230 Yds. Ass'd Eng. Cloths @ $3. Received payment in part by Elihu Barnes' Note, in favor of P. Somers, due March 4th, Am't 350.00 The Balance sold on % 340 00 22d 12,069 500 690 15 00 0) Bought of Elihu Barnes 400 Yds. Ass'd Eng. Cassimeres @ $1.50 Paid m part by his Note, favor of P. Somers, due Mar. 4th 350.00 The Balance purchased @ 30 days' credit 250.00 23d %/ %/ Bought of Ezra Peterson 240 Yds. Ass'd Fr. Cloths @ $3. Paid Cash in part 400.00 Balance on % . 320.*00 720.00 600 00 — 24th Received Cash of Philip Somers on % 26th 720 00 >/ >/ Sold to Thomas Carpenter & Co. 220 Yds. Ass'd Fr. Cloths @ $3.40 Received an Order of Samuel W. Fairburn on me 400.00 S"^?^ ^, . 200100 Balance on % - ' i48^qo 27th y/ ^ Appropriated Cash for Personal Expenses 29th — Sold to Thomas Carpenter & Co. 225 Yds. Blk. Eng. Cloths • 130 " Ass'd" Do. 656 748 25 00 60 00 u @ $3.75 @ $3.00 200 « Blk. " Cassimeres @ $1.25 195 « Ass'd « Do. @ $1.16 Received in payment. Cash Their Note @ 60 days Balance on % @ 30 days 843.75 390.00 250.00 226.20 569.98 569.98 569.90 1,709.95 1,709 95 31st Paid Ezra Peterson Cash in full of his % « 320 Paid Cash for Rent of Store one month " Clerk hire " " " Gas Bill «< « 75.00 75.00 5.00 Oi; 155 67 1 00 18,228l36 JOURNAL, SET L Philadelphia^ January Isl^ 1852. Dr. Cr. ■t '^. L.F. *1 1 1 1 1 Sundries Merchandise Cash 1 1 2 1 1 1 1 2 1 2 1 1 1 Dr. To Stock 1 Ton must imagine this to be your own boBiness and bear in mind that "Stock," as here used, does not mean goods on hand, but f«P«;«««°*f JJ^ instead of your own name. This entry means simply Sundries />r., and Sock (yourself ) CV. Under the heading "Sundries," the several items which make np the sundries are always enumerated :-in this case, a« you see, the Jtems are MUse. and Cbslt, each of which is considered as obhtrated. or «ndebted to yon for its value. Tou are credited, under the Utle of btock, for the Ji-ffecta invested by you in business. See remarks on the opening of the Journal, page 60. 3,815 2,000 2d Cash Dr. ' To Merchandise The Cash which yon get in this trade has cost you Mdse, to the Talue of 8620, and is considoriHl as owing you for its cost. The Mdse. which >"!> have sold has been the means of your receiving »620 in Cash, and you are considered indebted toitfor the value produced; therefore, , . ^ ^ .^. j j. i„. Oish is Dr. because it has cost value.— J/d«e. is O-. because it has pmdured Tn}w. irr Be careful to notice the /«rm of each entry, and the mannir of extending theimounts into the columns. In this case you perceive both a debit and credit extension on the same line. Notice, also, that several items of the tame kind of propertv do not constitute sundries in the Journal, but the term Sumirus U the caption when there are several Leycr iiiiet. 3d Bills Receivable Dr. To Merchandise By this transaction a NoU is received for Mdse., instead of Ca«b, u in the preceding entry. , , j • a*. • Bins Lee. Costsf value, and is Dr.—Mdse. produces t»1uc, and is Vr. — 5th Philip Somers Dr. To Merchandise You do not here receive immediate payment for the Mdse. sold, w In the two nreceding entries; value lias m^t, therefore, been given for Cash or Bills Kec, cr any other species of property, and no pr,^.rly arcfnint is /^.— But value has gone from your possession in Mdse. to the amount of S6&6.26, for the use and b.MH.fit of Ptkip SomtTS, without his remunerating you for it: therefore he lias t.een the occasion of an outgo, or expense, to you ; in other words, has corf you. value, and is Dr. Mdse. has produced value in his indebtedness, and is Vr. _^ i< — Merchandise Dr. To Cash This and the two fbUowing entries are the exact counterparts of the three '*'BSe"M(S!«)8ts value in Cash:— Cash produces value by paying fcr the Mdse. 6th Merchandise Dr. To Bills Payable Mdse. costs value in your Note :— BUla Pay. produces valu« by paying ftir ths Mdse. 8th . Merchandise Dr. To Elihu Barnes Mdse. costs value in your indebtedness to Barnes:— E. Barnes produces value by furnishing you with the goods without pay. — 9th Dr. To l^^chandise Sundries Cash Bills Receivable , . «^ ^ ..,v Sundries— to vrit, Cash and Bills Rec.— have eo«t you value in Mdse, and each is Dr for its cost. Mdse. has produced value in the Cash and Note, and u Cr. 12th Sundries Dr. Cash Thomas Carpenter & Co. To Merchandise Cash and T. Carpenter k Co. have each caused you to part with Mdse., and have thus been a cost to you. ^ ^. ■ ^ v* ^ ^ ^#n..»w>n*A* A Pa Mdse. has produced you value In Cash and the indebtedness of Carpenter * Cft 00 00 5,815,00 620 00 220 656 62000 40 25 220 731 1,990 25 40 656 25 731 297 00 50 450 800 1,990 25 00 00 00 297 1,250 50 00 300 00 13875 12,01915 438 75 12,01915 * Omit the Leger folio untU you post , .. , ^.,„» .# m nm. n—.* t Whenever, as in this case, I am «P«»ki°R o^n? ^'i»*^ u V?Ll Um .loun is rekuy singular, although the word "Bills," of ItwOf, *« rlnraL or "Bills Pay," I ui* the stngnlar Terb> becaw JOURNAL, SET I. Philadelphia^ January 13M, 1852. Dr. Cr. 2 L.F. 2 1 2 1 1 1 2 1 1 2 1 1 3 1 2 1 3 1 9 3 1 1 1 1 2 3 1 2 1 Am'ts Bro't forward Store Expenses Dr. To Cash store Expenses have cost you value, and are Dr. — Cash has produced you value, by paying for repairs, and is Cr. 19th Martin Pemberton Dr. To Merchandise The elucidation of the entry of the 5th inst. will fully explain this transaction 20th Sundries Dr. To Merchandise Bills Receivable Philip Somers You have given Mdse. to the Talue of $690 for Barnes' Note and for Somers* obligation ; therefore. Bills Rec. and P. Somers are Dr. for what they cost you, and Mdse. is Cr. fbr the value it produces you. 22d Merchandise Dr. To Sundries To Bills Receivable " Elihu Barnes Mdse. costs S6(K), and is Dr.— Bills Hoc. and E. Barnes produce Talue; Bills Kea by paying for part of the goods, Barnes by furnishing part without pay. Merchandise To Cash Dr. — 23d To Sundries " Ezra Peterson Mdse. costs value. — Cash and E. Peterson produce value. — 24th Cash Dr. To Philip Somers Cash has cost you the former indebtedness of Somers.— Sinners has produced value by paying his account. 26th To Merchandise Sundries Dr. Samuel W. Fairburn Cash Thomas Carpenter & Co. An Order is a request in writing that you will paT a certain gum for another person. Here you have parted with Mdse. to the vaJue of 5?4O0, at the request of 8. W. Fairburn; thus he has cost you that much, and owes you for it, or is Dr. For remainder of entry, see elucidation of 12th inst. 12,019 50 500 350 340 600 00 15! 00 00 00 00 12,019115 50l00 500 00 690 00 720 656 OOl 25 27th Personal Expenses Dr. To Cash Personal Expenses «)8t value ; Cash produces value by paying these expenses. 29th Sundries Dr. Cash Bills Receivable Thomas Carpenter & Co. Sundries cost value in Mdse. To Merchandise 31st Ezra Peterson Dr. To Cash Peterson costs you $320 in Cash.— Cash produces value by paying the debt (( . 350,00 250 00 I 400 OC 320 00 QbQ 2.5 '48 OC 400100 2oo!oo 148 00 60 00 569 98 569198 569199 60 00 1,709=95 Store Expenses Dr. To Cash store Expenses oost value in Cash. 320 155 00 00 69 18,228 85 320OU I I I 155'0O 18,2288.1 «L ISTAINED PAGE(S) LEGER, SET I. Dr. Stock. Cr. Date. Balancing Entry. J.F. Amount. Date. Balancing Entry. J.F. 1 3 -m Amount. 1862. Jan, 31 To BaL [Net Cap.) 8 I 6,7 6 2 10 1862. Jan. 1 31 By Sundries " Profit & Loss 5,815 937 6;?52 00 10 6,752 10 io 1 D r. Merchandise, Cr. 1852. 1862. Jan. 1 To Stock 1 3,815 00 Jan. 2 By Cash 620 00 5 " Cash 1 731 25 3 Bills Rec. 220 40 6 " Bills Pay. 1 1,990 00| 5 P. Somers 656 25 8 " E. Barnes 1 297 50 9 Sundries 1,250 00 22 " Sundries 2 600 00 12 (( 438 75 23 U (( 2 720 00 19 M. Pemberton 2 500 00 <( 31 S,1S3.7S " Prof.dc Loss {gain) 3 1,2 2 10 20 26 Sundries 2 2 690 748 00 00 y^ 29 « 2 1,709 95 j^^ 6,83.1.35 _^X t( 31 it Bal (Inv't) 3 2,5 22 50 9,355 85 9,355 85 Dr. .-c Cash. Cr. 1852. 1852. Jan. 1 To Stock 1 1 2,000 00 Jan. 5 By Mdse. 1 731 25 2 " Mdse. 1 620 00 13 " Store Expenses 2 50 00 9 « (( 1 ; 450 00 23 " Mdse. 2 400 00 12 « « 1 300 00 27 " Per. Expenses 2 60 00 24 " P. Somers 2 656 25 31 " E. Peterson 2 320 00 ** 26 " Mdse. 2 200!00 « " Store Expenses 2 155 00 29 " /" 2 569 98 1,7M.2S 4,796.23 1 1 1 31 « Bal. {on hand) 8 3,0 7 9 98 4,796 23' 4,796 23 i 1 Dr. Bills Receivable. 1852. Jan. 3 9 20 29 r To Mdse. 1,940.33 1 1 2 2 220 800 350 569 40 00 00 98 1,94038 1862. Jan. (« 22 81 Cr. By Mdse. " Bal. {unpaid) 70 Dr. LEGER, SET I. Philip Somers. 1862. Jan. 5 « 20 To Mdse. t9«.SS J.F. 1 2 656 340 996 25 00 25 1S62. Jan. <( 24 31 Dr. Bills Payable. 1852. Jan. 31 To Bal. {unpaid) 3 1,990|00 1852. Jan. By Mdse. ± T Dr. Elihu Barnes. 1852. Jan. 31 To Bal. {due Mm) 547 547 50 50 1852. Jan. 8 22 B^Bdse. 547. so Dr. . k Thomas Carpenter ^ Co. 1852. Jan. (( 12 26 29 To Mdse. « u Me.74 1 2 2 138 148 569 856 75 00 99 74 1852. Jan. 31 By Bal. {due me) Dr. Store Expenses. 1852. Jan. 13 (( 31 To Cash aH.oo 2 2 50 155 205 00 00 00 18)2. Jan. 31 By Prof. & Loss (loss) Dr. Martin Pemberton. 1862. Jan. 19 To Mdse. By Bal. {due me) Cr. :Bf Cash «♦ Bal. {due me^^ 8 .F. 2 656 340 25 00 996 25 Cr. 1 2 3 1,99000 %. 29750 250 547 00 50 Cr. 856 856 74 74 Cr. 205 205 00 00 Cf 500|00 71 Dr. LEGER, SET I. Ezra Peterson. Cr. 1862. Jan. 31 To Cash 320 00 1852. Jan. 23 By Mdse. JOr. Samuel JV. Fairburn. Cr. 1852. Jan. 26 To Mdse. 400,00 1852. Jan. 1 I 3 1 J?y JBaL {due me) Personal Expenses. 1852. Jan. 27 To Cash 1852. Jan. 31 ByProf.&Losi (loss) Dr. Profit 8f Loss. Cr. 1852. Jan. u 31 To Store Expenses " Per. " MS.OO " Stock {net gain) Dr. Balance. Cr. 1852. Jan. u u a a «c u 31 (( (( u u « To Mdse. Cash Bills Kec. P. Somers T.Carpenter&Co M. Pemberton S. W. Fairburn 9,3S9.60 1 1 1 2 2 2 3 2,522150 3,079j98 1,590|38 340,00 85674 500.00 400 00 9,289 60 72 ON POSTING. Having journalized all the transactions recorded in th^ Daj-Book, the next step is to post them, t. e. transfer them from the Journal to the Leger. This process I will endeavor to explain to you. Look at the first entry in your Journal, "Sundries Dr. To Stock," and you will perceive that Stock is Cr. $5,815.00, which is now to be transferred to the account of Stock on the Leger. After opening this account thus, " Dr. Stock Cr.," as shown in the Leger here given, place underneath this heading, on the credit side' the date of Journal entry, what Stock is Cr. by, the Journal folio from which the post is made, and the amount. Having done this, you post-mark the entry ; i. e. place, in the left hand margin of the Journal, the folio of the Leger to which it is posted. This completes the first post. Next comes the Drs. of this entry, of which Merchandise is the first. Open an account for it thus, " Dr. Merchandise Cr.," below Stock on the same folio, leaving enough lines intervening between the two to receive all the posts which are to be made to the Stock account. Underneath this second heading, on the debit side, place the date, description. Journal folio, and amount, as directecf 'for Stock, and lastly post-mark it in the Journal. Next take the debit to Cash : open an account for Cash in the Leger, and post as directed for Merchandise. The vihole of the first entry in the Journal is now posted. ' ' The second entry requires two posts, one to the debit of Cash, and one to the credit of Merchandise, which two accounts you have already opened on the Leger. This entry will also require two post-marks, the upper o;ie for the debit, and thelower one for the credit. Proceed in this manner regularly, opening new accounts as you come to them, until the whole Journal is posted, when you will be ready to take a Trial Balance ; for an explanation of which see the following. TRIAL BALANCE, LEGER, SET L L.F 1 1 1 1 2 2 2 2 2 2 3 3 Leger Titles. Stock Merchandise Cash ... Bills Receivable - Philip Somers - Bills Payable Elihu Barnes - Thomas Carpenter & Co. Store Expenses Martin Pemberton Samuel W. Fairburn Personal Expenses Dr. Amount Columns. Cr. 8,153 75 4,796 23 1,940 38 996 25 85674 205 00 500 00 400 00 60 00 17,908 35 5,815 6,833 1,716 350 1,990 547 17,908 00 35 25 00 25 00 50 Dr. Difference Columns. Cr. 35 1,320 40 3,079!98 1,590|38 34000 856 205 74 00 500 00 400iOO 60 00 8,352 50 5,815 00 1,990,00 547.50 8,352;50 The Trial Balance of the Leger is made when the Journal is all posted to it, to ascertain whether equal amounts of debits and credits have been posted, or if the whole Leger balances. It is made in the following manner :— First, add up the debit and credit side of each account in the Leger, and place their amounts to the left of the dollar column, with a pencil, as shown by the small figures in the Leger given. Then, having headed the Trial Balance, write down in it the titles of the several Leger accounts, commencing with Stock ; and place opposite each title, in the amount columns, the debit and credit foot- mgs, as set down with a pencil in the Leger : also, place in the difference columns the K 73 .*_. /" TRIAL BALANCE {continued). differences between these debit and credit footings. Accounts that balance in the Leger need not be brought in. The left hand marginal column is for the Leger folio. Add up the sef eral columns of the Trial Balance. Now, since for every debit made upfntheYeger there has been an equal amount of credit and for every credit an equal amount of dibit ; and since the amount columns of the Trial Balance e^'brace every dXt and credit ipon the Leger, (except those accounts whose deoits and credits are eauaH therefore, the debit and credit totals of these amount columns must be equJ. And if the tils' of the amount columns are equal, then the totals of the difference Tolumns must also be equal. If this equilibrium does not exist, there .8 an error, which "t Jrill Ballnce may be taken with the amount columns only or with the difference columns only. The latter is the usual mode in business; and in subsequent Trial BaCces in this work, the differences of the Leger accounts will only be used. In a ?eal bus nesrihe Trial Balance may be taken monthly, and *AouM bo taken as often as once in three months, even though the books are closed but once a year. You will next find use for the Inventory. INVENTORY-BOOK, OR ACCOUNT-STOCK-BOOK, SET L ' Inventory of Merchandise remaining unsold Jan. 31, 1852 : 100 yds. Blk. Fr. Cloths, @ *4. 20 100 560 400 238 u u a u Ass'd " do. @ S3. Eng. Blue do. @ $3.25 Blk. Eng. Cassimeres, @ $1.50 Ass'd " do. @ $1.50 Fr. do. @ $1.25 (( This is a small book used to take down the Inventory of f J^^^^'l"^^^^^^^ *nv time ffenerally called by merchants "taking an account of stock, ^stock, as here ^IdZSS on hand, and not your own name in business as ^t ^oes in the J^i^S and Leier. This Inventory, or account of stock, is taken by ac ual observa- Srand esti^^^^^^^^^ the goods or other property remaining on hand, either at cos Ir^l nr at threstim^ value; and is usually made out once a year as most houses ?Z thefr Wkryeriy; but houses that close their books semi-yearly, must take an iS stock o'nceTsk months, as the property on hand is always made use of m "^"inthtsit'jon will go over the Day-Book, carefully selecting the goods of each ^.' A InxlhKJiZ them to those of the same kind on hand at commencing busmess, here^^^^^^^^^^^^ This test of correctness would not generally be practicable m businSr owing to the diversity and number of items bought and sold. , . ^ .^ X4ng Z^ described how the Inventory is taken, I will now explain what use 18 made of it in closing the Leger. ON CLOSING THE LEGER. Pr^ryaratorv Steps. After making a Trial Balance, open a Profit and Loss account, funksfprer^^^^ and a Balance account. Next bring in the property on CnrSace t^ cr:dU of each speculatingt property account, in the \eger, the aTounlof property belonging to that account, as shown by the ^f I?ntory-Book En er rr^reS giving the dfte on which you close, and saying " By Balance {Inv t,\ ON CLOSING THE LEGER (continued). to show that it is to be transferred to the Balance account ; and make the opposite entry immediately on the debit side of Balance account, in black ink, saying " To Mdse.," or " To" whatever property account you have just made the red ink entry. In the column usually occupied by Journal folios, place the Leger folio of the account indicated by the entry. This entry of the property unsold is sometimes made through the Day-Book and Journal, but considering this useless labor, I have adopted the shorter and simpler method of placing it directly upon the Leger. All speculating property accounts must have the balances of property unsold credited to them in this manner, before they are closed. In this set there is only one such account — Merchandise ; and the whole of the goods unsold must be credited to it. The Leger is now ready for closing. Leave Stock open for the present. Commence at the first account after Stock, and close each account which shows a gain or loss into Profit and Loss, and each account which shows a balance that will add either to your assets or liabilities into Balance. It will suffice my present purpose to state, in short, that Merchandise, Bank Stock, and all other speculating property accounts — Premium, Interest, and Discount — Personal Expenses — Store Expenses, and all similar accounts, show gains and losses, and are closed into Profit and Loss : whUe Cash — Bills Receivable — Bills Payable — Bank — accounts with individuals, and the like, show assets and liabilities, and are closed into Balance. To close an account, find the difference between the debit and credit side of it by subtraction, and enter this diff*erence on the smaller side of said account in red ink, saying "To" or "By" that account into which you wish to close it; and then enter the same amount in black ink on the opposite side of the account into which you close it, saying " To" or " By" the account you are closing. Then rule the account with red ink, and add it up with black ink, after the pattern given you, and the closure is complete. Make all closing and transfer entries and all rulings in the Leger in red ink. Italics in the Legers given in this work indicate red ink. Continue thus to close the accounts successively, until only Stock, Profit and Loss, and Balance remain open. In order to prove that your work thus far has been done correctly, you may now take another test, which I shall call a Second Trial Balance. SECOND TRIAL BALANCE , LEGEB ., SET L L.F. Leger Titles. Dr. Amount Columns. Cr. Dr. Difference Columns. Cr. 1 3 3 Stock - . - - Profit & Loss Balance - - - - A 265 9,289 00 60 60 5,815 1,202 2,537 00 10 50 60 6,752 10 5,815 937 00 10 9,554 9,554 6,75210 6,752 10 This Second Trial Balance, as you see, consists of the three accounts now open, and its debit and credit totals must be equal, since, throughout the closure of the Leger, every debit has had its credit, and every credit its debit. In real business, neither the Balance account is used, nor the Second Trial Balance, as here shown. But of this you will be informed in Set IV. Finally. — After proving your work thus far, close Profit and Loss into Stock, thus transferring your net gains or losses in business to the account which is your own representative. The difference between the two sides of the Stock account will now show your net capital or your net insolvency, which you must close into Balance, making the last entry in Balance account also in red ink, as it becomes the closing entry to that account. This completes the closing of the Leger. .>m:^Jfe>^ :^7^.- STATEMENTS, SET I. If you have carefully considered what is emhraced in the foregoing pages, you will have acquired, I think, a pretty clear idea of the business represented in Set I; but, to make it still plainer, and also to give you more general ideas of what is embodied m the Leger, I will now show you some abstracts from it, in the form of statements, (worded as if drawn off by yourself from your own Leger,) by which your capital at commencing business, your gains during business, and your net capital at closing, will be clearly represented. _^ Statement Ist, showing Net Gains. I have (jained, as shown on the credit side of Profit ^ Loss account, By trading in Merchandise I have lost, as shown on the debit side of Profit ^ Loss account, By payment of Store Expenses ?-05.00 « " " Personal do. Deduct total losses - - - * My net gains in the business are Which is the excess of credit in Profit & Loss account. $1,202.10 60.00 265.00 - $937,10 Statement 2d, showing Net Capital at closing. My available means, called "Resources," or "Assets," are shown debit side of Balance account, and consist of Merchandise remaining unsold to the am't of - Cash on hand - - - - . . - - Bills Receivable, or other persons' Notes held by me The indebtedness of P. Somers " " " T. Carpenter & Co. - . - « " " M. Pemberton - - - - « " " S. W. Fairburn - - - - Total resources or assets Uj indebtedness, called "Liabilities," is shown upon the credit side of Balance account, and consists of Bills Payable, outstanding against me - - - - Amount due E. Barnes - • - - - Deduct total liabilities - - - - My net capital, or present worth, is - - - ^- Which is the excess of debit in the Balance account. upon the $2,522.50 3,079.98 1,590.38 340.00 856.74 500.00 400.00 $9,289.60 ,990.00 547.50 M I 2,537.50 $6,752.10 f. Statement M, proving Statements 1st and 2d, ^ The amount of Effects invested by me at the commencement of business ^ - shown by the credit side of Stock account, is **^ qq? ?a The net gains, shown on credit side of Stock, and by Statement 1st, are 937.10 Thus, the net capital or present worth (as by Statement 2d) is - - $6,752.10 Which is seen also in Stock account. NoT«.-If any additional inTestment had been mad* by you during the.burineBS, it would flud it« place alao upon the crtdU ride of ^eS^ of Stock account contain* the amount of yonr indebtedness at commendnf , any mim. withdrawn by you during the buainess, and your net losses in business : but, in Set I, nothing ban occurred requiring a debit to it 16 STATEMENTS {continuet^.' Therefore : — In a gaining business, commencing with net capital, To find your present worth, or net capital at closing : Ist. Add the net gains in business to the net capital at starting. 2d. Deduct the total liabilities from the total assets. To find your net gains in business : Ist. Deduct the total losses from the total gains. 2d. Deduct the net capital at starting from the present worth. QUESTIONS FOR REVIEW, SET L The following questions are intended as a review of all that has been written thus far on Double Entry. Answers to all questions asked can be found on some of the foregoing pages, and teachers will do well to require their pupils to search them out and learn them. What is Book-Keeping by Double Entry ? How does Double Entry Book-Keepiug differ from Single Entry? « What do accounts with persons represent ? What do accounts with the different species of property represent ? What do accounts with the various branches of your gains and losses represent ? What is the distinguishing feature of Double Entry? Is an equilibrium in the number of debits and credits required? WhsU; then ? Why is the old Italian metlwd of Book-Keeping adopted in the first three Sets of Double Entry? What are the main books of entry in the Italian method ? * Define debtor. Define creditor. ]n what have transactions or trades their foundations ? Repeat the general nde for journalizing transactions. Repeat it briefly. Docs this rule apply for determiniug the opening Journal entry of individual hooka ? Docs it apply to the opening entry of partnership books ? What is each Set intended to represent ? Why should particular attention be paid to the opening and closing of each ? What is the continuance of each Set for one month intended to represent ? How often are books closed in a majority of houses ? Describe the Day-Book in the Italian method of Book-Keeping. For what is the Journal used ? Why is this done ? Describe the Journal given with this Set. In making entries therein, how do you distingoiflh between debtors and creditors ? What may the Leger be styled ? What is its principal use ? Of what is " By" the prefix ? On which side of an account is it generally placed ? Of what is " To" the prefix ? On which side of an account is it generally placed ? Define Bills Receivable. Define Bills Payable. When are notes said to be nogotiable ? What name is given to an individual in business by himself? What are his books called ? Explain the opening of the Journal for Stock books. What would you debit, and what credit in journalizing each of the following transactions, and for what reasons ? 1st, Sale of Mdse. for cash. — ^2d, Sale of Mdse. for another person's note. — 3d, Sale of Mdae. on account. — 4th, Purchase of Mdse. for cash. — 5th, Purchase of Mdse. for your own note. — 6th, Purchase of Mdse. on account. — 7th, Sale of Mdse. for cash and another person's note.-^ 8th, Sale of Mdse. for cash and on account. — ^9th, Payment of expenses for the store in cash. — 10th, Sale of Mdse. for another person's note and on account. — 11th, Purchase of Mdse. for another person's note and on account. — 12th, Purchase of Mdse. for cash and on accoHnt. — 13th, Receipt of cash on account. — 14th, Sale of Mdse. for another person's order on you, for cash and on account. — 15th, Payment of cash for personal expenses. — 16th, Sale ^f Mdse. for cAsh, for another person's note and on account. — 17th, Payment of an account m cash. — ISthj Payment of rent^ clerk hire and gas bill in cash. 77 QUESTIONS FOR REVIEW {continued). n What is the next thing to be done after journalizing ? What is meant by posting ? maJ is lant bypost^-marking ? How do you post-mark when there is both a debit and a credit on the same line in the Journal ? , . ^ ? ^ What test of the Leger is taken when the posting is completed r Describe the process of taking a Trial Balance, and its use. , ^ „ a • -w i,«« •» irr"n^business to takf it with the difference columns only? How often is it taken. What is the Inventory-Book ? How is the Inventory or Account of Stock taken I What accounts do you open preparatory to closmg the Leger C What is the next step after opening these accounts ? What class of accounts have the balances of property unsold credited to them ? Define speculating property accounts ? In commencing to close the Leger, what account do you leave open { What class of accounts are closed into Profit & Loss ? What class into Balance ? ^dosing the Leger, is the first entry made in the account you are closing, or in the account into which you are closing it ? , j • i 9 On which side of the account and in what colored ink r Where is the opposite entry made, and in what colored mk / In what cases is red ink used in the Leger ? How indicated in this work ? A\rhen is the Second Trial Balance taken, and of what accounts does it consist r Ts the Second Trial Balance used in a real business ? , m . -. -n 1 9 mich is the first account closed after the taking of the Second Tnal Balance ? ™the Profit & Loss account has been closed into Stock what does the difference between the two sides of the Stock account show, and how IS It closed ? In what account, and on which side, do you ascertain your gams m business? Tn what account and on which side, do you ascertain your losses in business r t. «* t, Whatt s^wf C^^^^ total lossei from total ^ains? How is this shown in the Profit & maTa^'yTr available means at closing styled and where are they found? What is vour indebtedness at closing styled, and where is it tound f v «^ •« ♦!.. -R-Un^P What is sCwn by deducting total liabilities from total assets? How is this shown m the BaUnce Where do yon find the amount of your effects invested ? . rf \? Where do you find the amount of your indebtedness at commencing (if any) ? n^^\oh fide of Stock account are your net gains shown ? On which side your net losses ? Whit Ts st^n by"^^^^^^ net'gains in^usiness to the effect, invested at commencing? Where is this seen ? „ , , o xr i. • 9 Wliat are your total gains in Set I?* Total losses? ^et ^ms? What are your total resources or assets at closing Set I ? Total liabilities r What is your net capital or present worth ? * •„„ ? What is the amount of your effects invested added to your net gains T Klint bS^^ commencing with net capital, by what two methods can you ascertain your prSent worth ? By what two methods, your net gams ( ♦ The pupU may have his Leger before him in answering this and the following quesUoni. SET II, DOUBLE ENTRY. You can write up this Set in the blank books which accompany this treatise. You "will perceive that no Journal or Leger is here given, because I wish you now to rely upon your own reasoning powers, aided by such elucidations as are necessary, for apply- ing the principles already learned. Copy the Day-Book ; then journalize it, referring to the elucidations of the different entries for any suggestions required. Having journalized, post from your Journal into the Leger, and take a Trial Balance, which, if correct, will agree in every respect with the one given on page 83. If it does not agree, there is an error, which must be sought and corrected, after the manner described on page 111. When the Trial Balance is right, proceed to close the Leger in the same manner as described for Set I, taking a second Trial Balance when you come to it, as a test of the closures thus far. You can make out, from your Leger, statements of the net gains and net capital at closing, and compare them with the statements on pages 83 and 84, which will be a still further check upon the correctness of your work. Set I was a gaining business, and closed with net capital ; but this is a losing business, and closes with net insolvency. By comparing carefully the two Sets, and the state- ments drawn from them, you will acquire clear and definite ideas of both prosperous and adverse business. NoiE.— The Key in deslpnecl scldy for the Utuiher, and the scholar should tn na ease bo permitted to use it; or if at all, merelT to eompare his books after the t«acher has pronounced them correct. He should hunt his own mUlakUf as this is most excellent practi^ for hiuL 79 ^, 78 »iS* DAT-BOOK, SET 11. Philadelphia, February 2rf, 1852. ^ I commence Business with the following Effects : ^ -^r aa Cash on hand 1.J25.00 Merchandise, amounting pr. Invoice, to vivi^t^k 50 Shares Reading Rail-Road Stock @ $25 (p- -i- t»o.) I,2o0.00 Sundry Notes which I hold against others onn nn Joseph B. Lownes owes me on % «??*? a V. C. Burrell & Co. owe " " " ^^^'^^ s/ I owe as follows : On Notes held hy sundry persons against me To Charles T. Mayland on % " Burgess & Pinkerton " " Levi Williams & Co. " Evans, Peters & Co. (( 7,000.00 500.00 1,240.56 960.44 1,150.50 12,041 60 Making my Net Capital §1,190. 2d Insured Mdse. in the American Fire Ins. Co. to the Am't of $6,000, @ r%Prem., for which I have paid Cash 10,851 50 (( Sold to V. C. Burrell & Co., @ 6 mos., 5 Cases, 60 Prs. Men's Stout Boots @ $1.75 2 "24 " " Kip " " 2.00 2 « 24 " " Calf Pegged" " 2.50 ^ « 12 " " " Sewed " " 3.50 105.00 48.00 60.00 42.00 3d y/ Sold to Walter Stockton & Co. 3 Cases, 180 Prs. Boys* Stout Brogans @lb9 ' 2 " 120 " " Kip " " 80 2 " 120 " Men's Goat Nullifiers " 80 2 « 24 " " Stitched Boots " $6 Rec'd. in Payment My Note, Philip Beldon's favor, now due, for Cash for Balance 135.00 96.00 96.00 144.00 320.00 151.^ 4th Accepted Burgess & Pinkerton's Draft on me, @ 30 days' sight, favor Wm. G. Ashton, for 7th v^ Bought of Charles T. Mayland, Mdse., amounting pr. Invoice, to Paid in part hy my Draft on Joseph B. Lownes @ wght Remainder Bo't. @ 6 mos. credit 200.00 1,800.00 I t8 90 00 25500 I 47100 675 00 2,000 00 s/ >/ %/ >/ ^/ >/ V v/ ^/ DAY-BOOK, SET 11. Philadelphia, February 9th, 1852. 2 Paid in Cash my Note, Myers, Claghorn & Co.'s favor, Am't : 12th Exchanged Notes with Isaac McGrath, each drawn @ 30 days, for his Accommodation 14th Bailey & Davis, whose Note I hold for $750.36, have failed, and compounded with their Creditors for 70/ on the dollar, J to be paid in Cash and J in Goods. Rec'd in Cash 262.62 Mdse., as pr. Invoice, amounting to 262.63 Lost the Balance 225.11 600 00 1,200 00 16th 750 3G Sold to Allen Thompson 50 Prs. Children's Calf Brogans @ 37'/ 18th Bought of Manly & Co. Mdse., as pr. Invoice, Am't Paid in part by Note of Lyman Bellamy, my favor Gave my Note @ 30 days, for Paid the Balance in Cash 425.00 400.00 375.00 20th 18 1,200 75 00 Sold to Thomas Stotesbury & Co. 5 Cases, 300 Prs. Men's Stout Brogans @ $1.10 330.00 5 " 300 " " Kip " " 1.00 300.00 4 " 240 " Women's " Lace Boots " .60 144.00 2 " 120 " " Calf " " .90 108.00 Rec'd their Note @ 4 mos. for 441.00 Cash for Balance 441.00 882.00 2l8t Discounted my Acceptance of the 4th Inst. @ 30 days, favor of Wm. G. Ashton, Am't Paid in Cash 673.20 B^count on $675, for 16 days, is 1.80 28th On the Night of the 22d Inst., my Stock of Goods (with the Store) were almost entirely consumed by Fire. The small portion recovered was yesterday sold at Auction for Cash, netting, after payment of Auctioneer, Drayman, &c. li Rec'd in Cash of the American Fire Ins. Co. the Am't for which I was Insured on my Stock of Goods 81 882 00 675 00 32050 6.000 00 ELUCIDATIONS FOR JOURNALIZING DAY-BOOK, SET II. February 2d This Entry of your effect, invested mast be XT/e^l^redefor^Ve"^^^^^ uZmTtC Z 'Xrreh;=«r;^"oranitre^,!;;:.\:^per^^^^^^^^^^ Sto«.(you„..f) Is Cr. for the whole amount of your investment. the Journal, page 65. , 2d ' Mdse. is Dr. for the cost of insuring the goods. Cash is Cr. for producing the means (value) to pay the Insurance. constantlv — Commit to memory the general rule for journalizing, page 02, and apply it constantly. V C Burrell & Co. have cost you value in the goods which you have furnished ^^^^I'^^JJ^SU^euf Co' remuneratTon-and must be debited. Mdse. has produced value in the indebtedness of V. C. Burrell k Co. — and must be credited. 3d Ku",ppo7ed ITa^ ;Ltd"'fr The'tldrf Philip ileldo'n to /alter Stockton & Co.. «.d now, c«mu.g due, is offered by them in payment for the Mdse. : 4th value goes out of your possession, at his request and for his benefit In this case, Burgess & Pinkerton cost value in Bills Payable. 7th Mdse costs value, and is Dr.-J. B. Lownes produces value by permitting you to draw upon l^i™ in pay ment"Tort'ony goods bought; and C. T. Mayland produces value by furnishing part of them " m:L^r;ou dXTdrSit on another person, that person must be credited, as he produces you valut by paying the draft. .^ 9th — Another note, issued by you prior to the commencement of this business, falls due and is paid. Bills Payable costs value in Cash. 12th Bills Receivable costs value in my note issued. Bills Payable produces value in McGrath's note obtained. 14th Biih,Keceivablehas,roduced.a.«eo„,y^ credited the full amount of the note, $/o0.ob, in o'^J^y^^.;"!^ ",.-^„^ „__aid Cash is D#for what it has the Leger may at all times agree T^^^^f «,/™;"f .^.tr^ G3-an^ receptac.e of cost, S2t>2.62-Mdse is Dr. for what it has ^°/ ' f-^^-^"^'^ /^!;.>V°f -,1 ^rder to transfer the loss to that all your gains and losses, ^'J^f ,^« ^^^^^f J^J.f ."/^ J^^^^^^^^ $225.11, is «o^ explained on th^ ICth Mdse. has produced value in the indebtedness of Allen Thompson. - 18th " Lyman Bellamy's note is one of those you held against others at commencing business. Mdse. has cost value-Sundries have produced value. ^^ Invoice." and omit the items, J;:^:;;^^,^^^^:^ ITXS S Z^I^.^iX^ruZ should il-ays he speci^ed in deta-l. 2(Hh Sundries have cost value in Mdse., and Mdse. has produced value. 82 ELUCIDATIONS {continued). ■ February 21st A draft which has been accepted by you is styled your ** Acceptance^* — another name for it instead of note. Ditecunt'mg a note means paying it before due, for the sake of the discount. Bills Payable (your acceptance) has here cost value. Sundries, viz. Cash and Discount, have produced value. 28th Cash costs value in Mdse. (f Mdse. produces value in Cash. Insurance offices do not generally pay as promptly as here shown : they have usually a proviso in their agreements, allowing from iJO to 60 days' time for payment of losses incurred. TRIAL BALANCE, LEGER, SET IL Dr. Cr. L.F. 1 1 1 1 1 2 2 o 2 2 3 8 3 3 Stock - - - - Cash ... Merchandise - Reading Rail-Road Stock Bills Receivable - V. C. Burrell & Co. - Bills Payable Charles T. Mayland - Burgess & Pinkerton Levi Williams & Co. - Evans, Peters & Co. Profit & Loss Allen Thompson - Discount - - - INVENTORY-BOOK, SET IL 1,190 00 7,680 00 2,300 jOO 565 56 960 1,150 44 50 180 13,848 30 There remains on hand unsold, Feb. 28th, 1852 : 60 Shares Reading Rail-Road Stock, which is now selling @ $22 pr. Share ------------ SECOND TRIAL BALANCE, LEGER, SET IL j^ ^ L.F. 1 3 3 Stock - Profit & Loss BalaiMe t a. STATEMENTS, SET IL STATEMENT IST, SHOWINa NET LOSSES. 1,190 00 1,038169 2,228 69 Losses. Bills Rec, ?^ % of B. & D.'s note Mdse., lost by fire more than gains Heading 11.-R. Stock, depreciation Total losses Deduct gains My net losses are 225111 1,855 38 150 00 2,230 1 49 80 2,228,69 Gains. Discount on note paid before due 180 83 I :^i^j^. STATEMENTS, SET II {continueiT), STATEMENT 2d, SHOWING NET INSOLVENCY AT CLOSING. Resources, or Assets. Reading R.-R. Stock, Am't unsold Cash on hand Bills Rec, held by me V. C. Burrell & Co., Bal. due «ne A. Thompson, ♦' ♦• Total assets «{ 1,100 6,561 3,340 6% 18 LiahilUiet. 11,617 00 92' 64' 5o; 75 81 Bills Pay., held by others C. T. Mayland, Bal. I owe Burgess & Pinkerton, •♦ ♦♦ " L. Williams & Co. *♦ " " Evans, Peters & Co. " " " Total liabilities Deduct assets My net insolvency is STATEMENT 3d, PROVING STATEMENTS IST AND 2d. My debts at starting were Add net losses (Statement 1st) Deduct effects invested at starting Gives my net insolvency (Statement 2d) 10,851 2,228 13,080 12,041 1,038 50 69 11^ 50 69 My net capital at starting was Add net insolvency (Statement 2d) Gives net losses (Statement 1st) 7,680 00 2,300.00 666 66 960 1,160 44 60 12,666^60 11,617181 l,038;6y i i,i9o;oo 1,038;69 2.228 69 Therefore: — In a business commencing with net capital and closing with net insolvency, To find your Net Insolvency : Ist, Deduct the net capital at starting from the net losses in business. 2d, Deduct the total assets from the total liabilities. To find your Net Losses in Business: 1st, Deduct the total gains from the total losses. 2d, Add the present net insolvency to the net capital at starting. i t ,.» t * SET III, DOUBLE ENTRY. In this Set you are supposed to have made a satisfactory arrangement with your creditors, so as to resume and continue your business, which was summarily ended in th« last Set, by your stock of goods being consumed by fire. f QUESTIONS FOR REVIEW, SET 11. With what must the Trial Balance of your Lcger agree, to show that you have joumalized and posted this Set corrqqtly ? , ,.«. - *i. * • o * t 9 Wherein does the' business represented in this Set, differ from that in Bet 1 .^ What should be debited and what credited in the following transactions, and why ? 1st Cash paid for insuring Mdse.— 2d, Mdsc. sold on account.— 3d, Mdsc. sold for your note outstanding and for cash.— 4th, Accepting another person's draft on ycu.— 5th, Buying Mdse with your draft on another person, and on account.— 6th, Taking up your note by pay- ing cash for it.— 7th, Exchanging notes with another person.— 8th, Failure of a party whose note you hold, payment of part in cash, part in Mdse., and balance lost.— 9th, Sale of JMdae. on account —10th, Purchase of Mdse. for another person's note held by you, your own note, and cash — ilth, Sale of Mdse. for another person's note and for cash.— 12th, Discounting your own note.— 13th, Sale of Mdse. for cash.— 14th, Receipt of cash from an Insurance Co. for Mdse. destroyed by fire. What are the total losses in Set II ? The total gams ? What are the net losses ? How ascertained ? What are the total assets ? Total liabilities ? What is the net insolvency ? How ascertained ? What is the amount of your debts at starting, added to your pet losres? What remains after deducting from this amount your effects invested f How much was your net capital at starting ? What if" found by adding to this your net insolvency 7 ^ i • q ♦ • By what two methods can you ascertain your net insolvency m this Set 7 By what two methods can you ascertain your net losses in this Set? ... , ^b t. ,J .Jia^l^ I \ DAY-BOOK, SET III. Philadelphia^ March 1«/, 1852. I have tlie following Effects on resuming business. Cosh on hand . Sundry Notes of other persons, my favor 50 Shares Reading Rail-Road Stock, @ $22 V. C. Burrell & Co. owe me on % Allen Thompson owes " " " 6,561.92 3,340.64 1,100.00 596.50 18.75 11,617 I owe on sundry Notes outstanding, favor of others To Charles T. Mayland on % " Burgess & Pinkerton " " " Levi Williams & Co. " " " Evans, Peters & Co. " " 1st — 7,680.00 2,300.00 565.56 960.44 1,150.50 81 Bought a new set of % Books, of Murphy & Co., for Cash : 2d Bought of Charles T. Mayland Mdse., as pr. Invoice, Am't Paid him in part by Note of Root, Warden & Co., my favor 1,699.64 Cash for the Balance 1,300.36 u Bought of Burgess & Pinkerton, on %, @ 3 mos. Mdse. as pr. Invoice, Am't > 3d 12,656 20 3,000 50 00 00 2,516,00 Sold to Allen Thompson, 6 Cases, 360 Prs. Women's Calf Lace-Boots, @ 81 ^ 5th Paid Levi Williams & Co., Cash, in full of % - 8th Sold to Bent, Foster & Lewis, 10 Cases, 120 Prs. Men's Stout Boots, @ 2 " 120 " " Lasting Gaiters, " 6 " 360 " Youth's Stout Brogans 8 " 480 " " Kip " 3 « 180 " Children's Calf " Ree'd their Notes, one @ 30 days for a u 60 " " « u 90 a a u u $2.00 1.75 .62' .50 .37' 827.50 327.50 327.50 240.00 210.00 225.00 240.00 67.50 860 960 00 44 982.50 10th 982 50 Sold to Blackman & Packard, for Cash, 2 Cases, 120 Prs. Men's Goat Nullifiers, 2 2 2 2 1 1 120 120 120 120 60 eo « a Women's Grain Buskins " Lasting J Gaiters « Col'd " " « Kid Slippers R. R. Misses' Goat Lace Boots « R. R. Paris Ties 86 " 60 « 90 " 85 " 70 " 75 « 62« 96.00 72.00 108.00 102.00 84.00 45.00 37.50 644J50 DAY-BOOK, SET III. Philadelphia, March ISth, 1852. Sold to Wilson, Fenner & Welsh, | 6 Cases, 360 Prs. Women's Calf Lace Boots, @$1.25 450.00 \ 3 " 180 " " Goat Buskins, " 1.15 207.00 4 " 240 « « Lasting Gaiter-Boots," 1.25 300.00 4 " 240 " " Kid Slippers R. R. « .90 216.00 Ree'd in payment my Note of 19th ult., @ 30 days, favor of Manly & Co. 400.00 Cash for Bal., including Discount 773.60 1,173.60 The Discount on my Note, $400, for 9 days, am'ts to 16th My Note, favor Isaac McGrath, dated 12th ult., @ 30 days, coming due this day, has been taken up by him, and returned to me, for which I have given him his Note, my favor, of same tenor and date 22d Bought of Myers, Claghorn & Co., at auction, for Cash, Mdse., amounting, pr. Invoice, to ^ 24th Reading Rail-Road Stock having suddenly risen, I have had my 50 Shares sold by a Stock-Broker, @ $30 pr. Share 1,500.00 Ree'd the Cash, less his Com., @ J%on $1,500.00, for selling 7.50 1,17a 00 GO 1,200 00 1,522 36 27th Thomas Stotesbury & Co. have discounted their Note of the 21st ult.,@ 4 mos., my favor, for Ree'd in Cash 434.53 Discount on $441, for 88 days, is 6.47 ■ 30th 1,492 50 Sold to Wm. F. Godwin, for his Note@ 3 mos., 10 Cases, 120 Prs. Men's Calf Stitched Boots, @ $5.25 680.00 5 " 60 " " " Sewed " " 3.50 210.00 44100 31st Ree'd from the Executors of my Aunt Mrs. Whiteman's Estate, Cash in full of her Bequest to me. No Inn. htm been eff«'t*cl In thin Set, becaufe it waa not deemed advisable to occupy space with the entry. Many other entries, which, in a real bu^inesR, would occur, such as paying fieut of Store, &c^ liave been omitted, in this and the other Sets, for a like reason. 840 00 500 00 87 ELUCIDATIONS FOR JOURNALIZING DAY-BOOK, SET in. March Ist The opening entries arc so nearly like those of Set II, that I think you will need no addiUonal explana- tion of them. .■ .4 QUESTIONS FOR REVIE-W, SET IH. y How can you retain caah, notes and other effects n yonr !><»««?«""•' «"'1,«<'X™™ 85^1 tbciewith as in this Set, ■when you are really insolvent at the outset ? [See page 8&.J What would you debit, and what credit in each of the following transact.ons-and why? What juld you dcD ^^^ ^^^ eash.-id, Purchase of Mdse^ f»' """f »' anoth™on? my favor, and for cash.-3d, Purchase of Mdsc. on account.--4 h, Sje of Mdse on tbic -5lh, Payment of cash in full of an account which you owe.-6th. Sale of Mdre ?or ^00 notes of^another person.-7th. Sale of Mdse for cash -8th S^« »f Mdsc^ for your own note and cash, your note not being yet due- and you being allow da d^^^^^^ X,W,n —0th EeceiDt of your note prcv ously exchanged with another, and rehnquisliment ofTc othef i-eSnol^eld by yo'u.-10tli: Purchase of Mdse. ^T -•^-ll^^^^ ^ale o^ Readiu- Rail-Road stock for cash.— 12, Discount by another jperson of his note held by you. -IslhT &de of Mdse. for another person's note.-Uth, Receipt of a bequest m cash. What are the total gains accruing from the business in Set Ul I What are the total losses ? What the net gains ? What are the total assets? The total liabilities ? The net capital 7 What was the net insolvency at commencing? ' - What was the amount of Mrs. Whiteman's bequest to you ? What is the debit balance of the Stock account after deducting this bequest T Wh^l amounfdo you obtain, by adding your present net capital to tLe debit baUnce of SU«k Wrrb^le^m" nVl^LTrtintfhe debit balance of Stock «=count from the net gain, in In\Z:Sls''lt:^tl^t,'whTtwf^^^^^^^ there for a^crtaining the present worth? What two methods for ascertaining the net gams? GENERAL REMARKS. You have now been presented with three Sets of books by Double Entry :-the first, reweLtbg you as commencing business with a snug capital and without any debts; 3sun?t prosperously, and thus increasing your capital. In the second, you com- menced with greater meins in possession, but owing debts to nearly the same amount :- you werl attended with misfortune, in the destruction of your goods by fire, without u n insurance, and probably too for want of experience in the business in which you eSager°either bought nor sold to the best advantage ; thus sustaining a large loss wWch swallowed up your net capital, and left you with about an equal 'n^o'vency In The third Tou resumed and continued your business so summarily ended in Set II, reLiS'in your hands all the means left you until such time as you are able to pay your cred itorl who are supposed to appreciate your business talents, to confide m your &Tty and to agree to extend the time of payment. Having learned by experience to bSe cautious and skilful, you thus make sufficiently large gains to cover your insolvrcy, and have a small net capital again. A bequest from your Aunt somewhat 'Tnrp'rtoTe'iurnishing you with some examples of partnership business, both where the parTners^share alike in gains and losses, (as in Set IV,) and where their shares and '"TsMl'^ltoTo^'reirnt'^fu ^^^^^^ another style of keeping accounts .norter than the j!tlnZthod!.nA us/d by houses engaged in general fd.ng operations sh.pp.ng business, and some other mercantile pursuits. It will at first require more thought on y^r part than the preceding Sets have done, but those you are now supposed to have mastered and thus to be prepared for a higher step on the road to a thorough knowledge T account?; and no task should be thought too hard, which care and patience will jvercome, and which will lead to knowledge. 90 Xiw*^ ■r WW ■^'l 1 . SEYMOUR & FITCH. SET lY. DAY-BOOK KEPT IN JOURNAL FORM, AND NO JOURNAL USED. i 91 •r' EXPLANATORY EEMAUKS, SETS IV AND V. The Sets of books thus far shown in this work have all been conducted upon the old Italian method. I now propose to show you a plan which is far more in use at the present time, and bj which much useless writing will be saved. It is to entirely dis- pense with the Day-Book in History form, and use instead a Bay-Book in Journal form^ in which the entries are recorded in such a manner as not only to present a complete history of the business transactions, but also to furnish debits and credits under the proper Leger titles, ready for posting ; thus rendering it useless to keep a Journal, and doing away with the labor of journalizing. The general rule for journalizing becomes now a general rule for determining the proper debits and credits in making original entries, I have given a separate history of the business, as it is supposed to have occurred, with elucidations of such transactions as seemed to require elucidating. This history you should be careful to distinguish from the historical Day-Books, which you have already passed over, as it is not used in actual business, and is not intended to take the place of any book which is used ; but is given solely for the purpose of exhibiting the transactions as they would occur before you in actual commercial operations. Th« postings are made direct from the Day-Book, which is the book of original entry. I have omitted, as in the preceding Sets, the Cash-Book, Check-Book, and all other books used merely as auxiliaries, because your mind will thus be less burdened, and you ¥rill the better understand the primary and more important books of entry. The various auxiliary books are shown in connection with Set VI. Instructions for Writing up, Set IV. This Set represents a partnership business, in which the partners invest equal amounts of net capital, and share equally in gains and losses. It is a prosperous business. After examining the form of the Day-Book sufl&ciently to acquaint yourself with its peculiarities, lay it aside, and turn to the history given of the business. Apply care- fully the directions previously received for opening books, and the general rule for determining what to debit and what to credit, in each case ; having decided which, write down the entry in regular Journal form, mingling therewith sufficient explanations to convey to the mind of a stranger a clear idea of the business transaction. Make out your Day-Book on a loose sheet of paper, and depend upon your own skill in so doing, looking at the Day-Book given as little as possible, until you have completed your own. You can then compare and make any necessary corrections. The next step is to post. Then close up your Leger, make out exhibits, &c., as heretofore shown. In posting, let the partners* accounts be the first accounts opened on the Leger. I have omitted the Index to the Leger ; but this you can make out for yourself, as you post. In closing the Leger, you will observe no Balance account is opened ; but instead thereof, the balances (of such accounts as would be closed into it) are " brought down to new account,'' in the same manner as in Single Entry. [See explanation on page 18.1 The gains or losses in any account go into Profit & Loss, as heretofore ; and Profit & Loss is closed into the accounts of the two partners, half of the net gains to each. When the Leger is entirely closed, take your Second Trial Balance— not to be preserved, but as a mere proof of accuracy. It will consist of all the balances brought down to new account, and, if the Leger be correctly closed, the debit balances will be equal in amount to the credit balances, including the partners* net capitaL Instructions for Writing up, Set V. In this Set, there are three partners, sharing unequally in gains and losses, the capital being invested by two of them. It is a losing business. No Day-Book or Leger is given, but only the history and elucidations, from which you can write up your books as explained for Set IV. First prepare your Day-Book on a sheet of paper, and, when corrected, copy it into the blank book designed for it, and post up your Leger also in the accompanying blank book. Draw off statements from your Leger, and compare them with those on pages 109 and 110, with which they should agree. Teachers will again find use for the Key. 92 HISTORY AND ELUCIDATIONS, SET lY. i St, LouiSj April 1st, 1852. Bela N. Seymour and Albert Fitch have this day entered into partnership, for five years, under the firm and style of Seymour ^ Fitch, for buying and selling Real Estate, Steamboat Stocks, &c. : — the parties to invest equal amounts of net capita^ and to share alike in gains and losses. 3. N. Seymour's Effects invested are as follows : Cash on deposit in the State Bank of Missouri 5,000.00 One-Fourth of Steamboat Sultana, valued at 6,500.00 One-Eighth of Steamboat Neptune, " " 4,500.00 $16,000.00 He owes a Note, favor of Black well & Co., due May 18 th, which the Firm assume. Making his Net Capital $8,500. 8 7,500.00 Albert Fitch's Effects are Cash on hand 8,000.00 A Note in his favor, drawn by Thos. Coleman, due May 22d, 3,525.50 $11,525.50 He owes Debts which the Firm assume, to wit : — To Coffin & Waite 890.00 " Silas George & Son 2,135.50 $3,025.50 Making his Net Capital $8,500. J^" There are quite a number of neto Leger titlee introduced into this Set, and they should be eotrefmUy eonnidered. In all the pr||pding Seta, no Bank account has been kept, and all moneys in bank have been counted as cash, the bank^eing considered as merely another place for keeping money, instead of the safe, and tb» account with the bank being regulated by the Bank-Book and the Check-Book, (which should always b» kept when there are any dealings with bank, and which will be hereafter explained.) This is the iMisi method; but some houses prefer keeping accounts with the different banks with which they deal, in the same manner as accounts with persons, in their Leger— debiting sums deposited therein, and crediting snms checked out In this Set the latter method is illustrated. In the above transactions between the parties at commencing business, observe that — Ist State Bank of Missouri, Steamboat Sultana Stock and Steamboat Neptune Stock have cost the firm ▼alue in their obligation to B. N. Seymour. B. N. Seymour has produced the firm value in his investmenL 2d. B. N. Seymour is Dr. because he costs the firm all that they assume to pay for him. Bills Payable it Cr. because it produces the firm value in the indebtedness of B. N. Seymour. 3d. Sundries cost the firm value in their obligation to Albert Fitch. Albert Fitch produces the firm ralna in his effects invost<3d. 4th. Albert Fitch costs the firm value by their assumption of his debts. Coffin & Waite and Silas George A Son produce the firm value, in the indebtedness of Albert Fitch. The (jenernl rule for determining what to dtbit, and what to credit, (page 62,) is therefore appIicaUe to tha opening entries in partnership books. ■ 1st .. Deposited Cash in the State Bank of Missouri $8,000. State Bank of Missouri has cost the firm value in Cash. 3d Sold A of Steamboat Sultana for Cash deposited in State Bank of Missouri $5,250. State Bank of Missouri has received the value produced by Steamboat Sultana Stock. When both the debit and credit Leger titles are long, you may phice them on separate lines in the Daj-Book. 5th Bought of Greely & Warburton a Farm in Pike Co., of this State, for $3,000. Paid, pr. Check on State Bank of Missouri, $1,000. Gave our two Notes for tbfl Bal., secured by Mortgage on Farm— one @ 1 year, $1,000— one at 2years, $1,000. Real Estate, Pike Co., costs the firm the amount paid for the farm. State Bank of Mi^ouri and Bondii 4 Mortgages Payable produce value. Bonds & Mortgages Payable are a species of Bills Payable, and ai« sometimes entered to that account; but it is better to keep them distinct 7th Drew Cash from State Bank of Missouri, pr. Check, $500. State Bank of Missouri produces value in Cash. (C Paid Cash for J Repairs of Steamboat Neptune, $75. Steamboat Neptune Stock coats value in Cash. 93 2 HISTORY AND ELUCIDATIONS, SET IV. St, Louis, April 9th, 1852. Paid Albert Fitch Cash for private use $50. ^ ^ ^.^ ^ Albert Fitch receives value from the firm, for ^Wch he must he debited C( Bought of Edwin Shippen Jr a House & Lot No 95 M,jn St for J20^00 in Sundries. lOth Checked from State Bank of Missouri, and remitted to Newton Snyder, Pi'^e Co to be usedChim in repairing and fencing Farm, according to directions m our letter ^^ tin .!!tlt .iO. E..„t the transfer Is a regular - 16th ■R/^Titrlit it Anction. i of Steamboat Sioux, for $6,120. , , , . Sn narrby No e of T. Coleman, favor of A. Fitch and invested by h.m on com- ^ menci'ng BuS due 22d proxim'o,. $3,525.50 ; Check on State Bank of Missouri, $2,500l Cash for Bal., including Dis. on Note, ?115.b&. The Discount on Note, $3,525.50 for 36 days, is $21.15. ^" raZt Sioux Stociand'piscount cost value. BUi. Receivable and State Bank of Missouri prodne. value. . It Passed our Note, @ 30 davs, to the St. Louis Ins. Co for Ins. on our Share of the ^Ttealoat Sioukfor $6,250, @ 2% = $125, & Policy $1. Steamboat Sioux Stock cosU value in Bills Payable. , - 20th Loaned Henry Bolton Cash $200. Open an iount with Loan, instead of Henry Bolton. Loans account cost, value m Cash. 23d ^ — ■ ' Eec'd from Newton Snyder an % of Fencing & Repairs on our Farm, Pike Co., paid -from our Remittance of 10th inst.,-Am't, including his Com., $215. He ha^ sent us the Bal. of the Remittance, m Cash, }^6b. Kemittances account furnishes the money for repairs, Ac and thus produces the firm va^u*. Real Estate, Pike Co. and Caeh receive this value Irum the Urui. niSTOEY AND ELUCIDATIONS. SET IT. 3 St. Lmis, April 2m, 1852. Sold our Farm in Pike Co., to Silas George & Son, for $4,000. Offset, as part payment, the Am't which we owe them on %, $2,135.50; Roc'd Cas^h in part, $364.50 ; and their Note for Bal., payable in 2 years, secured by Mortgag on Property. Silas George & Son, Cash and Bonds & Mortgages Receivable have cost value in Pteal Estate. Bon^ls* 4 Mortgages Receivable are a class of Bills Receivable, but should be kept distinct, especially when numerous. — 27th Bought of Lemuel Fraley, pr. Check on State Bank of Missouri, ^ 40 Shares State Bank of Missouri Stock, @ $48 pr. Sh. State Bank of Missouri Stock has cost value. State Bank of Missouri has produced value. These are two distinct accounts ; the Bank Stock being a species of speculating property, like Mdse. u Deposited ir* State Bank of Missouri Cash received for 6 mos. Rent of House and Lot, No. 95 Main St., $600. Real Estate Main St has produced value in the indebtedness of the State Bank of Missouri. 28th Henry Bolton has paid us the Cash loaned him on the 20th, $200. Loans account has produced value in Cash. 29th Sold to Coffin & Waite 30 Shares State Bank of Missouri Stock, @ $50 pr. Sh. Rec'd payment, in part, by the canceling of our indebtedness to them, $890 ; with Interest allowed by us on same, $6.50 ; and their Check, which we have deposited in the State Bank of Missouri, for Bal., $603.50. Coffin :.T0uri Stock. 30th Rec'd in Cash the Dividend on 10 Shares State Bank of Missouri Stocky par value $500, @ 5 % = $25. State Bank of Missouri Stock has produced value in Cash. (( Rec'd of Clerk of Steamboat Sioux, a Check, which we have deposited in the State Bank of Missouri, for our J Net Proceeds of Trip No. 13, to New Orleans, $309.35. Steamboat Sioux Stock has produced value in the indebtedness of the Bank. u Discounted Note drawn by B. N. Seymour, favor of Blackwell & Co., assumed by the Firm at commencing Business, due the 18th proximo, $7,500. Paid by Check on State Bank of Missouri, $7,477.50. Discount on $7,500, for 18 days, is $22.50. When the firm assumed the payment of a note outstanding against B. N. Seymour at commencing business Bills Payable received a credit, as cancelling the indebtedness of the firm for the time. This note has now been taken up and has cost the firm value. State Bank of Missouri and Discount have produced valoe. 95 F- 1 DAY-BOOK, SET IV. Si. Louis, April \st, 1852. Dr. Cr. L.F. Bcla N. Seymour and Albert Fitch have this day en- tered into partnership, as pr. Articles of Agreement. 1 1 1 1 2 Sundries To Bela N. Seymour, For Effects invested State Bank of Missouri, Cash on deposit Steamboat Sultana Stock, \ of said Boat Steamboat Neptune Stock, \ (( It t( Bela N. Seymour To Bills Payable, Note, fayor of Blaokwell & Co., assumed by the Firm let 2 2 Sundries To Albert Fitch, For Effects iqyested Cash, On hand Bills Receivable, Note in his favor, drawn by Thomas Coleman, due May 22d 1 2 2 1 2 1 1 Albert Fitch To Sundries, To CoflBn & Waite, Bal. of % assumed " Silas George & Son, " (( ti «i 1 3 2 1 1 o ■(( State Bank of Missouri To Cash, Deposited \ 3d State Bank of Missouri To Steamboat Sultana Stock, Sold -^ of this Boat for Cash deposited 5th Real Estate, Pike Co. To Sundries, Bo't of Greely & Warburton a Farm, for To State Bank of Mo., Paid pr. Check " Bonds k Mortgages Payable, Our Notes for Bal., secured by Mortgage on Farm, One % 1 year, $1,000.00 «« " 2 •* 1,000.00 7th Cash To State Bank of Mo., Drew out, pr. Check M Steamboat Neptune Stock, To Cash, Paid for \ Repairs of said Boat 5,000 6,500 4,500 7,500 00 00 00 00 8,000 3,525 3,025 8,000 5,250 16,000 00 00 50 50 7,500 00 3,000 96 500 75 54,876 r 00 00 11,525 00 50 00 00 00 890 2,135 8,000 5,250 00 50 00 00 1,000 2,000 500 75 00 54,876 00 00 00 00 L.F. 1 2 DAY-BOOK, SET IS. St. Louis, April 9th, 1852. 2 Dr. Cr. Albert Fitch To Cash, 1 3 3 1 — 9th On% Real Estate Main St. To Sundries, Bo't House & Lot, No. 95 Main St., for To Steamboat Sultana Stock, Gave y'j of this Boat in part Pay't " State Bank of Mo., Our Check " Bonds & Mortgages Payable, Our Bond, @ 2 years, secured by Mortgage — 10th . 50 00 20,000 00 50 Remittances .- To State Bank of Mo., Checked from Bank, and remitted to Newton Snyder, Pike Co., to be used by him in repairing and fencing Farm, as pr. directions in our letter of date 15th 250(00 ^^''^"^^ To Steamboat Neptune Stock, This Boat was snagged & sunk in the Mississippi river above Memphis, on the 9th inst, and has been deUvered over to the Underwriters State Bank of Mo., Rec'd, from t],e Reliance Mutual Ins. Co., the Am't covered by Ins., (J of $34,000,) $4,250. less Expenses, $125, Lost the Bal. 2,000 9,000 9,000 00 Profit & Loss, 250 00 00 00 4 4 2 1 2 4 2 4 2 - 16th 4,12500 450 00 Sundries Steamboat Sioux Stock, Discount, To Bills Receivable, favor of A. Fitch, due 22d proximo " State Bank of Mo., Our Check " Cash, For Bal., including Dis. on Note To Sundries, I of Boat, Bo't at Auction On Note, $3,525.50, for 36 days Paid in part by Note of T. Coleman, 6,120 21 « Steamboat Sioux Stock To Bills Payable, Our Note @ SO days, favor St Louis Ins. Co., for Ins. on $6,250, @ 2 ^ & Policy 20th . 126 00 15 4,575 00 00 Loans 3 2 Sundries Loaned to Henry Bolton — 23d To Cash, To Remittances, Rcc' of Newton Snyder an % of the use made of our Remittance to him of 10th inst. Amount Real Estate Pike Co. Fencing, Repairs, & his Com. ^^5" Bal. returned 200 00 N 97 215 35 00 31,592 00 00 3,525 2,500 115 50 00 65 126 200 250 00 00 151 31,592 00 16 T DAY-BOOK, SET IV- St. Louis, April 26/A, 1852. Dr. Cr. L.F. 3 2 2 4 4 1 1 3 2 4 Sundries To Real Estate Pike Co., Sold our Farm to Silas George & Son Silas George & Son, Offset the Am't due them Cash Rec'd in part Bonds k Mortgages Receivable, Their Note for Bal., payable in 2 years, and secured by Mortgage on Property . 27th State Bank of Missouri Stock To State Bank of Mo., Bo't of Lemuel Fraley, pr. Check, 40 Shares Stock @ $48. (t .^ State Bank of Mo., To Real Estate Main St., Rec'd & deposited 6 mos. Rent of House & Lot, No. 95 : . 28th . ■ 2,135 364 1,500 1,920 50 50 00 00 4,000 Cash To Loans, Rec'd of Henry Bolton, for Loan of 20th inst. 29th 00 600 200 00 00 1,920 600 00 2 4 1 2 4 1 4 Sundries To State Bank of Mo. Stock, Sold to Coffin & Waite 30 Shares Bank Stock @ $50. Coffin & Waite, Offset Am't we owe them Interest, Allowed on their % State Bank of Mo., Their Check deposited 30th Cash To State Bank of Mo. Stock, Dividend on 10 Shares,— $500 @ 5 ^ (( 1 4 State Bank of Mo. To Steamboat SioiLX Stock, Deposited a Check Rec'd of the Clerk of said Boat, for our i Net Proceeds of Trip No. 13, to N. Orleans 00 200 00 890 6 603 25 00 50 50 00 1,500 (( 309 35 00 25 Bills Payable To Sundries, Disc'd our Note, favor of Black well & Co., due 18th prox. To State Bank of Mo., Our Check *' Discount, On $7,500, for 18 days 00 309 7,500 16,054 00 35 35 7,477 22 16,054 50 50 35 • I 98 Dr. LEGER, SET IV. Bela N. Seyimiir. Cr. 1852. Apr. 1 30 To Bills Pay. "£al.{NetCap.)toX€tc% 7,500 1 0,6 7 4 18,174 00 I 10! 1862. Apr. (( 1852. May 1 30 By Sundries ! 1 ! 16,000i00 " Profit & Loss !3 2,174 10 By Bal. fr. Old % Dr. Albert Fitch. 1 18,174 110 10,674*10 I Cr. 1852. Apr. (( 1 9 30 To Sundries " Cash 3.075.30 *'BaI.{Kct Cap.)toNeio% 3,025 50 50i00 1 0,6 2 4 13,699 10 60 By Sundries " Profits Loss 1 1! 11,525 50 3! 2,17410 By Bal. fr. Old % 13,699 60 10,624 10 Dr. 1852. Apr. 1 3 15 27 29 30 State Bank of Missouri. Cr. To B. N. Seymour " Cash " St'b't Stock " Pteal Estate " State B'k Stock " St'b't Stock To Bal. fr. old % 1 1 1 2 3 3 3 5,000 •8,000 5,250 4,125 600 603 309 23,887 1,240 1852. OO'^Apr. 00 oo; 00 00 50 35' 85 35 it « 5 7 9 10 1 By Real Estate '^ Cash " Real Estate " Remittances 16 " Sundries 27 30 " State B'k Stock " Bills Pay. 22 '"■4"' W " Bal to Kew% 1 1 2 2 aj 3 3 1,000,00 50000 9,000100 250100 2,50000 1,92000 7,477^50 i 1,2 4 OSS 23,887'85 Dr. Steamboat SuUana Stock. 1862. j Apr. 1 " 3 Cr. To B. N. Seymour '' Profit ^Los8(jgain) 1 3 6,500 750 00 ool 7,250 00 1852. Apr. 4< 3 9 By State Bk Mo. " Real Estate 7,250.00 1 2 I 5,250i00 2,000i00 u 7,25000 Dr. 1852. Apr. Steambocd Neptune Stock. Cr. 1 7 To B. N. Seymour " Cash ^375.00 1 1 4,500|00 75100 4,575 00 99 2 Dr. LEGEE, SET lY. Bills Payable. Cr. 1852. Apr. 30 To Sundries " Bal. to Neio % 7,500 12G 7,626 00 00 00 1862. Apr. i( 1852. Mav 1 16 By B. N. Seymour '^ St'b't Stock 7,( By Bal. fr. Old % 1 2 7,500 126 7,626 126 00 00 00 00 Dr. Cash, Cr. ]S52. Apr. 1852. May 1 7 23 26 28 30 To A. Fitch " State B'k Mo. " Remittances " Real Estate " Loans " State B'k Stock 9,12150 To Bal. fr. old % 1 1 o 3 o O 3 ||1852. 8,000'OO'Apr. 500 00 35 364 200 25 00' 50i m 00 9,124 683 50 85 T 1 7 9 16 20 30 By State B'k Mo. " St'b't Stock " A. Fitch *' Sundries " Loans 8.41065 M Bal to New % Dr. Coffin & Waite. 1852. Apr. 29 To State B'k Stock 890 00 1852. Apr. By A. Fitch Dr. Silas George & Son. 1852. i Apr. 26 To Real Estate 2,135 50 1852. Apr. 100 By A. Fitch 8,000 75 50 115 200 G83 00 00 00 65 00 85 9,124 50 Dr. Bills Receivable. Cr. 1852. Apr. 1 To A. Fitch » 1 3,525 50 1852. Apr. 16 By Sundries • 2 3,525 50 " Cr. 890 00 Cr. 2,135 50 Dr. LEGER, SET IV. Real Estate Pike Co. Oi\ 1862. Apr. i( ■ . Dr. 1,500 00 nk of Missouri Stock. 1852. Apr. « 1852. May 27 80 To State B'k Mo. " Profit ^Lo88 {gain) To Bal. fr. Old % 3 3 1,920 105 2,025 500 00 00 00 00 185f. Apr. i( 29 30 / Cr. By Sundries " Cash <^Balf{BCvt)toNew% / 1 4 3 3 1,500,00 2r. i>00 5 2,025100 102 TRIAL BALANCE, LEGER, SET IV. L.F 1 1 1 1 2 2 3 3 3 3 4 4 4 4 Dr. Cr. Bela N. Seymour - » . Albert Fitch - State Bank of Missouri - Steamboat Sultana Stock - Bills Payable Cash - - . - Real EstatePike Co. Bonds & Mortgages Payable Real Estate Main St. - Profit & Loss - - . Steamboat Sioux Stock - Interest & Discount - Bonds & Mortgages Receivable State Bank of Missouri Stock 1 1,240 683 INVENTORY-BOOK, SET IV. 19,400 450 5,936 5 1,500 395 35 85 00 00 65 15 00 00 20,611^ I 8,500 8,450 750 126 785 11,000 00 00 00 00 00 00 29,611 00 Property remaining unsold, April 30th, 1852 : House & Lot, No. 95 Main St., valued at One-Fourth Steamboat Sioux, " " 10 Shares State Bank of Missouri Stock, @ 350 pr. Sh. I 22,500 00 6,000j00 500,00 29,00000 »~f STATEMENTS, SET IV. The total gains accruing from this business are - - . losses " " " « u t( u $4,803.35 """'*"" 455 15 Making the firm's net gains - $4 348 20 Each partner's share is J of $4,348.20 =$2,174.10. ' The total assets* at closing are- ~. \ I ~ «qo /IO/i oa liabilitiesf Net Making the firm's net capital or present worth - $21 298.20 capital of B N Seymour at commencing, aa pr. credit Bal. of his % - . $8 500 00 Add his J net gams, as above '^^ . _ S 174 |a His net capital is - $10,674.10 Net capital of Albert Fitch at commencing, as pr. credit Bal. of his ^ - - «8 'Snn nn Deduct Am't withdrawn for private use - . _ ^^'^^^ % _ " _ ' 'f^^ Bal. remaining to credit of his <^ - - . . «q ir.(\tu^ Add his J net gains, as alSve - . ^i . ..."." 2m'l0 His net capital is ....... . $lo!624.10 B N. Seymour s net capital or present worth - . . . «^l n fi7 >i i n Albert Fitch's " *^ ii u u ?51O,674.10 - - - - 10,624.10 Firm's present worth, as above ... ^21,298.20 103 STATEMENTS (continued). ^ Therefore : — In a partnership business, where the partners invest equal net capital, do a gaining business, &nd share alike in gains, Deduct total losses from total gains — to find firm's net gains. ^ Divide firm's net gains equally — to find each partner's net gains. Deduct total liabilities from total assets — to find firm's present worth. Add each partner's i net gains to the credit balance of his account — to find his present worth. The present worth of the two partners, added together, must equal the present worth of the firm. i QUESTIONS FOR REVIEW, SET IV. Wherein does the plan pursued in Sets IV and V differ from the Italian method ? What does the general rule for journalizing now become ? Which is the book of original entry ? From which are all postings made ? Where may the various auxiliary books, omitted in this Set, be found ? Is Set IV an individual or partnership business ? Prosperous or adverse ? How do the partners share in gains and losses ? Which are the first accounts to be opened on the Lcger, in partnership books ? How does the closure of the Leger differ from the closure in Sets I, II, and III ? How is Profit & Loss account to be closed ? When and for what purpose is the Second Trial Balance to be taken ? Of what will it consist? In the following transactions of a firm, what are the debits and credits — and why ? 1st, Investment by one partner of cash deposited in a bank, and of a portion of two steam- boats. [Bear in mind that in Set IV a Bank account is kept in the Leger.] — 2d, Assumption by the firm of a note which that partner owes. — 3d, Investment by the other partner of cash, and a not 3 lie holds against another person. — 4th, Assumption by the firm of this partner's indebtedness to two dift'crent persons. — 5th, Deposit of cash in bank. — 6th, Sale of portion of a steamboat for cash deposited in bank. — 7th, Purchase of a farm in Pike Co., and payment by a check on the bank, and by the firm's notes secured by mortgage on the property. — 8th, Draw- ing cash from the bank, pr. check. — ^9th, Payment of the firm's portion of repairs of steamboat. — 10th, Payment of cash to a partner for private use. — 11th, Purchase of a house and lot on Main St., and payment by portion of a steamboat, by check on bank, and by the firm's note Becured by mortgage. — 12th, Draft of money from bank, and remittance of it abroad, to an agent, to be used by him as directed. — 13th, Sinking of a steamboat partly owned by the firm, and receipt of cash for the portion covered by insurance — balance lost. — 14th, Purchase of por- tion of a steamboat, and payment by a note which the firm holds against another person, by check on bank, and by cash — the note not being yet due, and the firm allowing a discount thereon. — 15th, Issuing the firm's note for insurance on their portion of a steamboat. — 16th, Loan of cash. — 17th, Receipt from an agent abroad of a portion of the money previously remitted to him, with information that he has used the balance in making repairs on farm in Pike Co. — 18th, Sale of farm in Pike Co., and receipt of payment by offset of an account we owe, by cash, and by another person's note secured by mortgage. — 19th, Purchase of stock in bank by check on the bank. — 20th, Deposit in bank of money received for rent of house and lot on Main St. — ^21st, Return of money loaned out. — ^22d, Sale of bank stock, and receipt of pay- ment by canceling the firm's indebtedness to another person, by interest thereon, and by check of another person deposited in bank. — 23d, Receipt of cash for dividend on bank stock. — ^24th, Receipt, pr. check deposited, of a portion of the net proceeds of steamboat's trip to New Orleans. — ^25th, Discount of firm's note, and payment of amount (less discount) by check on bank. What are the total gains of the firm in Set IV ? Total losses ? Net gains ? What is each partner's share of net gains ? How found ? What are the total assets of the firm ? Total liabilities ? Net capital ? What is the net capital of B. N. Seymour ? How ascertained ? What is the net capital of Albert Fitch ? How ascertained ? In such a business as Set IV represents, how can you find the firm's net gains ? How each partner's? How can you find the firm's present worth ? How each partner's? What must the present worth of the two partners, added together, equal ? 104 TIxMOTHY H. PORTER & CO. SET Y. PRODUCE^ GROCERY, AND DOMESTIC SHIPPING ' ;» » BUSINESS. [S« page 92 Ibr ImtnicHoM for wilHiij up thi. S«l.l 105 jCi-A-HA-jA , HISTORY AND ELUCIDATIONS, SET Y. Cincinnati, June \st, 1852. Timothy H. Porter, David Harrington and George Anderson havo this day formed a partnership to conduct a produce, grocery and domestic shipping business. Porter and Harrington are to furnish the capital as agreed, and to receive interest thereon ; and each is to share two-fifths of the gains or losses. Anderson is to share one- fifth of the gains or losses. Title of ^vm—'' Timothy H, Porter ^' Co/' T. H. Porter invests in Cash $10,000. David Harrington invests in Cash $10,000, and in Mdse., pr. Invoice, $3,125. He owes on Bills Payable, pr. B.-B., which the Firm assume, $2,238.36. Making his Net Capital $10,886.64. T. H. Porter produces the firm value in Cash. , ,, , , . , , . * i •« i»:n- David Harrington produces the firm value in the Cash and Mdse. invested ; and he costs value in ISiUi Payable, assumed by the firm. , . • , • l \. ix x. George Anderson requires neither a debit nor a credit at this time ; but, in posting, his account should be the third opened in the Leger, that the partner's accounts may stand together. JjSiS* No Bank account i» kept in the Lpger tit thin Set.. 2d Sold to Booth & Plumley 150 Bbls. Mess Pork @ $9.50 ; and 100 Bbls. Lard, 20,000 lbs. @ 6y--total Am't $2,675. ^ Rec'd, in payment, 14 Hhds. Sugar, 15,400 lbs. @ 6/; David Harrirgtons Note, their favor, assumed by the Firm at commencing business, due 29th inst., for $1,500 ; and Cash for Bal. of Sale and for Discount on Note, $257.75. Discount on David Harrington's Note for 27 days is $6.75. Mdse., Bills Payable and Cash have cost value. Mdse. and Discount have produced value. The entry will be commenced " Sundries To Sundries." — 3d Paid in Cash David Harrington s Note, favor of Charles Elliott & Bro., assumed by the Firm at commencing business, dated Mar. 2d, @ 90 days, with Int. from date. Am't of Note $738.36— Int. 93 days (including Grace). Reckon the interest on this note first, and then make the proper entry. Bills Payable and Interest have cost value, and Cash has produced value. « Bought of Joseph Suydam k Co. 125 Bbls. Superfine Flour @ $4.25 ; 100 Bbls. Extra Mess Pork @ $9 ; 600 Bbls. Mess Beef @ $11 ; 100 Bbls. Prime Beef @ $8.50 ; 50 Bbls. Beef Hams @ $16 ; 50 Bbls. Pearl Ashes @ $4.30— total Am't $9,896.25. . , ^ , Paid in part by 14 Hhds. Sugar, 15,400 lbs. @ 6'/ ; and Cash for the Balance. Mdse. has cost value in Mdse. and Cash. , , , .,,... ^ . xi. In such cAses as this, Mdse. might be considered as costing only the balance paid for it in Cash— the entry would then be " Mdse. Dr. To Cash $8,895.25 ;" but the better way is to debit Mdse. the full amount $9,896.25, and credit Mdse. and Cash ; thus letting the Mdse. account show the entire dealings in Mdse. 4th Shipped pr. Steamboat Crescent City, Forbes master, and consigned to Goodhue & Co., New Orleans, to be sold on our account and at our risk, 125 Bbls. Superfine Flour @ $4.25 ; 200 Bbls. Mess Beef @ $11. Paid Drayage in Cash $10.25. Passed our Note, @ 30 days, to the Western Insurance Co., for Ins. on $2,777.22 @ 1* % and^for Policy $1. Goods sent abroad to bo sold for your account must not be debited to the consignee, but must have a specifle heading or title, under which to keep an account of them ; just as goods at home have the title of " Merchan- disc " The title usually assumed is *' Shipment" or "Adventure" to such a place or to such a party. You may call this "Shipment to New Orleant," which account has cost value in the amount paid for the goods, and in the expenses attending the shipment of the same. Sundries :— to wit, Mdse., Cash, and Bills Pay., have produced value. ps^ Explain fully every debit and credit made in the Day-Book. — 5th — -^ Paid Cash for sundry Repairs of Store $30. 106 HISTORY AND ELUCIDATIONS, SET Y. Cincinnati, June 1th, 1852. Bought of Claremont, Smith & Co., on %, 200 Bbls. Mess Beef @ $11.12^. 7th Shipped pr Steamboat Henry Clay, Gaines master, and consigned to Osterhaut k Qn^^li U ' *^ \ '^I'l'l ''"'' ^^^^"°* ^^^ ^^^' ^^ ^bls. Pearl Ashes @ $4.30 JOO Bbls. Mess Beef @ $11. 12^. ^ ^tnd^for Pdi?^^^^^ ^^ ' ^^"'^ *"" ^^^ ^^^ Insurance Co., for Ins. on $2,480 %V% You may term this "Adventure" instead of "Shipment," to show variety. ^Uceutme to Jlobtle has cost value in Mdse. and Cash. 11th Rec'd pr. Steamboat Isaac Newton, Manning master, from Van Deursen & Co., N. f^r' ^aVjuTX^'^'^'S^ ^^ "'' *^ wit:~30 Hhds. N. 0. Molasses, 3,000 Gals. @ 25/^ ; 30 Hhds. N. 0. Sugar, 30,750 lbs. @ 4^. ^ Paid, m Cash, the Freight, Drayage, &c. on above Mdse. $96. 12th Purchased for Cash of Bowen k Bros., of this City, their Bill of Exchange on Lafitte & Da ton, N. 0. and remitted the same this day to Van Deursen & Co., in payment of Am't due them, $2,133.75. Paid J % Prem. for the Bill. First calculate the premium on $2,133.75 @ i%, and then make the entry. Van Deursen & Co. and Premium have cost the firm value. Cash has produced value. 14th Bought of Daniel Liebrand & Co., on our Note @ 4 mos., 2,500 Bush. Ohio Wheat delivered on board the Steamboat Buena Vista, Taylor master, @ $1.03 per Bush and shipped the same to Austin & Spicer, Galveston, Texas To be sold for ou^ account and risk. ^'® ly/a^d'for® Jh/Ti *° ^^^ Cincinnati Mutual Ins. Co., for Ins. on $2,608.61 Shipment to Galveston has cost value in Bills Payable. 17th ^^.1? P^l!iri?.^^i'^2^^^n^.^^ Gals. @ 27/; 100 including Discount, Cash and Bills Receivable have cost the firm value. Mdse. and Discount have produced value 18th ^ &To'^STl™000' ^"^'^^ ^ ^''*'' ^'^^^ '''' ""'' ® ^^ ^^^'' '^S^'*> ^^^^" ^^ ^^^l^°d Claremont, Smith & Co. have cost the firm value in Bills Payable. ■~ 23d — Shaped, pr. Steamboat Ben Franklin, to T. W. Boswell & Co., Vicksburg. for their %, and pursuant to their order, 150 Bbls. Mess Beef @ $11.50. raid Drayage in Cash, $4.75. 3 HISTORY AND ELUCIDATIONS, SET V. Cincinnati, June 25th, 1852. Rec'd intelligeDce that the Steamboat Buena Vista, on which we made a Shipment on the 14th inst., was wrecked in the Gulf of Mexico on the 20th inst., — ^Boat and Cargo total loss. This is a mere memorandnm, to prepare yoa for the entry of the 29th inst, and showing that in the •curse of business the firm would now receive this information. U require* ho Day-Book entry. 26th Discounted our Acceptance of the 18th inst., @ 30 days* sight, Oakland & Co.'b favor, Am't $1,000. Discount for 25 days on $1,000 is $4.17 — Bal. paid in Cash. Bills Payable has cost value in Cash and Discount. 28th Paid George Anderson Cash for private use $200. 29th The Cincinnati Mutual Ins. Co. has failed, and is able to pay but 10/ on the dollar, of its indebtedness. Accordingly we have received from the Assignees 10^ on the Am't of our Ins. on Ship't to Galveston of 14th inst., pr. Steamboat Buena Vista, which was wrecked in the Gulf of Mexico on the 20th inst. — Boat & Cargo total loss. Am't insured $2,608.61 @ 10% = $260.86, for which we received our Note of 14th, @ 15 days, $33.61 ; and Cash for Bal. The loss of goods belonging to Shipment to Galveston is the means of the firm's receiving $260.86. Ship- ment to Galveston has therefore produced the firm that amount of value in Bills Payable and Cash. (( Rec*d an Account-Sales from Osterhaut & Evans, Mobile, of Ashes and Beef sent them on the 7th inst. Net proceeds $2,976.15. Rec'd also a Draft, remitted by them, on Biddle Brothers, at sight (for part proceeds), which has been paid in Cash, $1,500.00. An Account-Sales is a detailed statement of the sales of goods, and of the charges attending the same. Adventure to Mobile has here prudaced value in Cash, and in the indebtedness of Osterhaut - companied by a draft for a portion of the amount, which you immediately convert into cash. — 20th, Receipt of an account-sales without any remittance. — 21st, Payment of store rent and clerk hire in cash. — ^22d, Allowance of interest to two partners on capital investiMl What are the total losses of the firm in Set V ? The total gains ? The net losses ? What is Porter's share of the net losses? What is Harrington's share? What is Anderson's share ? What are the total assets of the firm ? The total liabilities ? The net capital ? What is the net capital of Timothy H. Porter ? How ascertained ? What is the net capital of David Harrington ? How ascertained ? What is the net insolvency of George Anderson ? How ascertained ? What is the balance resulting, by deducting Anderson's net insolvency from the amount of Porter and Harrington's net capitals added together ? [n such a business as Sot V represents, how can you find the firm's net losses ? How each part- ner's ? How can you find the firm's net capital ? How can you find the net capital of each partner who invests capital at starting? How the net insolvency of the partner who makes no investment, but draws out funds for private use ? If you deduct the net insolvency of one partner from the sum total of thQ net capitals of the other two, what will the difiercnce show : — ^with what must it agree ? BALANCE SHEETS AND LEGER ACCOUNTS QUESTIONS ON DETECTION AND CORRECTION OF ERRORS. Has any short and infallible method been discovered for detecting errors in bocks ? What affords the only certainty of accuracy in keeping books ? What is the best short test of correctness in posting yet discovered ? Why is this test defective ? Mention some errors that may exist when the Trial Balance is apparently correct If the Trial Balance is not in equilibrium, what may you be certain of? Explain how to detect errors made in posting, or taking a Trial Balance. How should an error be corrected in the Day-Book ? How should an error be corrected in the Journal ? How should an error be corrected in the Leger ? 118 112 i BALANCE SHEETS EXPLAINED. Take a sheet of unruled foolscap or letter paper, and draw a double red line around it close to the edge, for a border ; then draw a pencil line across the sheet lengthwise, about three-quarters of an inch from the border on one side ; follow this with two other pencil lines, one-half that distance apart ; then draw a double red line under the first and last pencil lines. This serves for a heading. For ^^ Stock" Sheets, commence under this heading, and rule enough lines, with pencil, to receive all the accounts in your Trial Balance, and leave eight extra. Now turn the sheet, so that the heading will be at your left, and commence ruling, with red ink, the money columns, after the pattern shown on the following page, dropping three lines after "Balance," two after "Stock," two after "Profit & Loss," and one after "Face of Leger." Next rule the footing and closing lines at the bottom of the columns. In "'Partnership ' Sheets, for two partners, rule twelve more pencil lines from the heading than your Trial Balance contains accounts ; then, in ruling for the money columns, drop four lines after "Balance," two after the first partner, two after the second partner, three after " Profit & Loss," and one after " Face of Leger." For three partners, rule sixteen extra pencil lines ; and, in ruling for the money columns, drop five lines after " Balance," two after the first partner, two after the second, two after the third, four after "Profit & Loss," and one after "Face of Leger." Having prepared your Sheet thus, and made the proper headings to it, first bring into it the Trial Balance of your Leger, which, you will now observe, is cjilled in the Balance Sheet, " Face of Leger." Next, enter to each property account the property remaining unsold, as pr. Inventory- Book; placing the amount in small red ink figures in "Face of Leger" column, on the credit side, immediately below the line containing the difierence of ^aid account ; and making the opposite entry in " Balance" column, on the debit side, in black ink. At this state, the sheet is like the Leger when ready to close. You will now transfer the difierence of Stock, as shown in the " Face of Leger," into the column appropriated for it, headed " Stock ;" then follow with the next account in order, taking its diff'erence into "Profit & Loss," or "Balance," agreeably to its nature; and thus continue until all the accounts in the "Face of Leger" have been transferred. In each speculating property account which has a balance of property unsold, as shown by the red ink entry in " Face of Leger" column, this balance must be counted in as a credit to the account, and then the difference must be transferred into "Profit k Loss.** After finishing all these transfers, "Stock," "Profit & Loss," and "Balance" only remain open, and the Balance Sheet corresponds to the Leger when ready for taking the Second Trial Balance. Finally, close "Profit & Loss" into *< Stock," when the differences of the "Stock" and "Balance" columns should just equal each other, and should both show your Net Capital, or Net Insolvency. Footing up these columns completes the Balance Sheet, which will now be found to agree with your Leger when closed. Balance Sheets are given for Sets I and IV. You may make these out for youp- self, and also make those for Sets II, III and V. Note. — When the personal accounts are numerous, they may be summed up together, under two heads, "Personal %j due me," "Personal %^ I owe." See page 168 High School edition, or 238 Counting-House edition. 114 f' 6 O O O to O O lO •-• O CD ' 1 H o t- Jt— (N 00 O 00 • r-t > G 5 C > o > o o CD CO 00 •> C£ 5 C=> 00 . • & (M t^ Oi Tfl »o O lOCO *N r^ #\ . »o o o 00 »0 r}< !^ • o .O O ' . O ^O O 1-1 o , O t- . CD CO H— p (N a> (M < tH n O o o o 1 C^ II o •* • • O lO • . . • » o lO •« o t- C<1 1 u r-l .« , , OO - 05 Tt< . • • • • CO ^ a> iC « Vi 00 i3> t? •••• •.••• fei s 1 O o e3 , O 00 00 'Tf Oi 00 o o o . . "^ o o o o tr-O O O O o Oi o CD lO o o fN ^ U •23^^3? • . »o o o o CO to •^ P oooooo oo(n»otji CO o o l-l 00 T-1 • • • 00 ^ 08 2 -o t<=* 1 o u ^ 5. » L. Folio. rHrHTHrH— o o O o 1 O O O O CD > o o o o to • QO • O CD O »««» S ^c^^ Capi Total B.N Albert III ^ w .. -- r^ ^ • 525 • « © T-l PU eS f i • • . • 11 Qo « « o CO o ■ B p^ rH lH < , o O O lO . o -- 1 B 1^; • no /^ CO w » • • o •o • c > c< > c« > Ci 3 ' O it Capita IB ■ o • • lO lO c • oo • c 5 >0 D • O CO o M < O » t- t- rH iH CO "K •^ H^H t^ — ill. O O O <=> lO ■IB ■ ^ Q • • • • • • • -O • rH • • ^ ^ CO CO o ^ BH 1 • • • • ••••lO* ** r-»^ ^^^^^^^r '^ . . "^^ '"^ 00 (M C^ 1^ d ^^^1 l!i* o o o o , O O .» . .=> . c O 1 •S ^^^^1 >:<■ p:2 * o c o c :> • o o o o » ® ® C-> ^^^H ■'i 5 w --D lO o ^ - = T-l ^^^^^^1 B ii if o to O »0 • '^"^ fN • QO O •=> • '^ • • Z rH ^^B IH E^ iC '^ tr- T-l CD HO ^B M h-H 1-3 QOQO. • tH»«..«,-. ■^ ^^^H H| o lO lO o o o o o o O ^^^B BH c^ 1^ • 'CO • • OC • * O O CD 1-H O O o 1 ^^^B BH O CO O O CD O O »r5 1 rH 1 ^^^^H Hn £ k • 'tJI • 'QO • "OtOCO OC- 1— 1 s^- • ^^^^H |H ^ ft H . -^^ . -s . .1^ ^- ^^B H W Bela N. Seymour Albert Fitch State Bank of Missouri Steamboat Sultana StO( Bills Payable . Cash . Real Estate Pike Co. Bonds & Mortgages Paj/ Real Eatate Main St. Profit & Loss Steamboat Sioux Stock Interest & Discount Bonds&Mortgages Rece State Bank of Missouri ■1 02 Louis, 0th, 1852. 1 l- St. April 3 116 LEGER ACCOUNTS. If you have "vrritten up the several preceding Sets of books, individual and partnership, you have been made acquainted with the mainjacts wad. principles which govern the science of Double Entry Book-keeping, in journalizing, posting, opening and closing Legers, and making out exhibits there- from. Before proceeding further, it will be well to note the application of these principles to the different Leger accounts, tracing out the reasons for every debit and credit therein contained, and thereby fixing in the mind such facts as are necessary to guide you in your future progress. I shall, therefore, here furnish a concise explanation of the various accounts which occur in the more simple business operations, omitting such as pertain exclusively to Shipping and Commission business for & subsequent part of the Counting-Uouse edition. Observe the fact, that the rule ^or journalizing is constantly applied in these explanations; thus showing that it is not only of utility as an assistant in journalizing, but is the main key for unlocking aU the treasures of the science. Cash, The Cash account is kept to show the amount of cash received, the amount paid out, and the balance on hand at any time. Cash costs value, and is debited, when it is received ; consequently, the debit side shows the amount received. Cash produces value, and is credited, when it is paid out ; consequently, the credit %\diQ ^hoYT^ the amount paid out. The balance on hand is ascertained by deducting the total cmlit from the total debit. The debit side is always the larger as long as there is any cash on hand, since cash must be received before it can be paid out. This account is closed " By Balance." Note.— When no Balarux account ia opened in the Leger, the entry in closiag Cash ia " By Balance to new acccmnt," — and lo ia siooilar closures. Merchandise, and other Speculating Property Accounts. Merchandise account is kept to know the cost and proceeds of merchandise ; and as a consequence, the gains or losses thereon. Merchandise costs value when it is purchased — it is debited when it costs value — and consequently the debit side shows its coat, or purchases.. Merchandise produces value when it is sold — it is credited when it produces value — and consequently the credit side shows its proceeds, or sales. When all is sold, the difference between the two sides will be a gain or loss. If a portion of goods remains on hand unsold, this balance must be credited to the account, prior to closing, as an offset thus far against its cost. If the debit side is the larger, it is closed " By Profit & Loss," if the credit side is the larger, " To Profit & Loss," always into Profit & Loss. Real Estate, Bank Stock, Rail-Road Stock, Steamboat Stock, Shipment accounts, Adventure accounts, and all other speculating property accounts, are kept for the same purpose, and treated in the same manner as Merchandise account. I - Personal Accounts. Accounts are kept with persons to show your business dealings with them. A person is debited when he is the occasion of any outgo or expenditure to you ; in other words, whenever he costs you value ; and he is credited whenever he produces you value in anv way. The debit side shows what the person owes you. 1 f The difference shows the balance The credit side shows what you owe the person, f \ either due you or due him These accounts are closed either " To Balance" or "By Balance." 117 ' LEGER ACCOUNTS (continued). Sundry Dehtxyrs. Sundiy Creditors. SuNDKY Debtors. — Thig account is the representative of persons who owe you, and is used to avoid opening numerous petty accounts upon the Leger. It contains entries to persons with whom your dealings are too limited to open a separate account to each. On the debit side of the account, in the Leger, instead of writing " To Merchandise^'* (or " To" whatever other title constitutes the balancing entry,) it is customary to place the name of the person who is debtor, thus — " To John Barbour," " To Samuel Black," &c., — and by this arrangement you can see in the account who it is that owes you. Then each credit is commonly posted on the same line as the debit which it cancels — leaving a blank space opposite to the names of such persons as have not paid. The closure is " By Balance." Sundry Creditors. — This account is exactly the reverse of Sundry Debtors, in its treatment and the mode of entry to it : — and is kept for the same purpose, viz. to avoid opening numerous petty accounts upon the Leger. Note.— When no Balance account is opened, theoc accounts would be permitted to remain unclosed, ai each line constitutes in ftct m Mparate account, and has its own independent balance. Bad Debts, or Suspended Debts. Into this account are transferred such personal accounts as are considered of too doubtful a character to be relied upon as constituting a part of your assets. It is closed " By Balance," but whenevei any portion is positively ascertained to be bad, that portion is closed into " Proj&t & Loss." Bills Receivable. The object in keeping this account is that you may know the amount of other persons* notes received, the amount that has been paid, and the balance yet due you. Whenever you receive a note, it costs you value, and this account is debited ; therefore the debit side shows the amount of notes received. When a note which you hold is paid, it produces you value, and this account is credited ; therefore the credit side shows the amount paid. The debit side is always the larger, if either, and the excess shows the balance of notes on hand unpaid. When all the notes you hold are paid, this account closes itself; but if any remain unpaid, it is closed " By Balance." Bills Payable. Bills Payable account is kept that you may know the amount of your own notes issued, the amount taken up, and the balance still outstanding against you. Whenever you issue a note, it produces you value, and Bills Payable account is cre- dited, hence the credit side shows the amount of notes issued. When a note which you have issued is taken up by you, it costs value, and Bills Payable account is debited, hence the debit side shows the amount taken up. The credit side is always the larger, if either, and the excess shows the balance of Aotes outstanding unpaid. . . . ; When all the notes issued are paid, this account closes itself, but if any remain unpaid, it is closed " To Balance." Bonds & Mortgages Receivable. Bonds & Mortgages Receivable are a class of Bills Receivable, and might be kept under that head, but it is usually preferable to open a separate account, which is treated precisely like Bills Receivable. 118 ^"T^ LEGER ACCOUNTS, {continued). Bonds Sf Mortgages Payable. Bonds k Mortgages Payable are a class of Bills Payable. This account is treated precisely like Bills Payable account. Bank. When a Bank account is kept, it is similar in its treatment to Cash and Bills Receivable, the debit side showing the amount of value deposited in bank, and the credit side the amount checked out : consequently the diflference is a balance in bank— closed "By Balance." Generally no Bank account is kept in the Leger, and sums of money in bank are counted as cash on hand in balancing the Cash account. Your dealings with the bank would then be regulated by the Bank-Book and Check-Book. Premium^ Interest^ Discount^ Exchange^ Commission^ Guarantee^ Insur ranee, Expenses, Charges, Sfc. These and similar accounts are kept to ascertain what they cost you, what they pro- duce you, and, as a consequence, whether you gain or lose thereon. Excess of debit shows a larger amount of cost than proceeds, and a consequent loss upon the account ; while excess of credit shows a larger amount of proceeds than cost, and a consequent gain. These accounts are always closed into " Profit & Loss." Remittances. •* • • - - - Remittances account is used for preserving a record of sums sent to agents to be applied by them for your benefit, according to your direction. This account costs you value, when you send the money abroad, and is debited ; hence the debit shows the amount remitted to your agent. - It produces you value, when the money previously charged to it is used in transacting your business, or is remitted to you again ; hence the credit shows the amount disbursed by your agent. The difference shows a balance still in the hands of the agent, and is closed "By Balance," the debit being always the larger, if either. This account may also be used for preserving a record of sums remitted to you, to be disbursed for others. In this case the credit side would receive the first entries, and would be the larger so long as any funds , remained in your possession ; and therefore the closure would be "To Balance." Loans. This account is used as the representative of persons to whom you loan and of whom you borrow money. The debit side contains sums loaned by you to others, and payments by you of moneys previously borrowed of others, because in these cases the Loans account costs value. The credit side contains sums borrowed by you of others, and payments by others of moneys previously loaned to them, because in such cases the Loans account produces value- If the debit is larger, it shows you have money due you on loans — ^if the credit u larger, it shows that you owe borrowed money. ft is closed " To" or "By Balance." 119 ■I LEGER ACCOUNTS, {continued). Profit 4r Los9. This account is the receptacle of your gains and losses in business. During the business, any outgo or expenditure which has no other appropriate account for its recep- tion, is debited to this account, and any income which cannot properly be classea under another head, is credited to this account. In closing the books, all gains and losses are transferred into this account, losses being placed on the debit, and gains on the credit, as in the accounts from which the transfer is made. Therefore : — The debit side contains losses. The credit side contains gains. The difference shows net gains or losses. This account is closed into Stock, or into the partners accounts. Stock. This is your representative, when conducting business without a partner, and is used instead of your own name. Debts at starting, sums drawn out during the business, and net losses at closing, are placed upon the debit side of Stock : — Effects invested at starting, sums invested during the business, and net gains at closing, are placed upon the credit side. After receiving the gains or losses, if the credit of this account is the larger, the excess is your net capital ; if the debit is the larger, the excess is your net insolvency. It is closed into Balance. Partners' Accounts. ^ The debit side of a Partner's account contains debts assumed by the firm for him, either at starting or during the business, sums received by him from the firm, and his share of the net losses at closing : The credit side contains his investment at starting, sums invested during the business, and his share of net gains at closing. After receiving the gains or losses, an excess of debit shows r^t insolvency^ an excess of credit net capital. The account is closed into Balance. Balance. When this account has received all the balances which are closed into it, the debit side contains the available means of the individual or firm whose business is represented, consisting of property on hand, and balances of accounts due, styled resources or assets. The credit side contains the indebtedness of the individual or firm, styled liabilities. If the difference be a debit excess, it is net capital; if a credit excess, it is net insolvency. The balance brought down from Stock account closes this account. In a partnership, the balances from the several partners' accounts close it. N. B. Th« fiwal proof of Double Entbt Book-kebpino consists in the agreement of Stock and Balance aifFerencea ; and is the result of an arrangement to bring all the gains or losses of the business through Profit & Loss into the account of Stock, thus increasing or diminishing that account just in the same pro- portion that the assets and liabilities are increased or decreased, as shown in the Balance account. In the closure of the Legers to the first three Sets of books given in this work, a Balance account has been used, believing that you would thereby obtain a better knowledge of the agreement between accounts which show gains and losses, and accounts which show assets and liabilities. In actual business, however, this account is seldom, or never, used, and it is therefore omitted in the other Legers given. But the sam4 prmeiples apply in closing Legers without the Balance account as with it ; and the same proof exists, since the assets and liabilUies are as really contained in the Leger, although found under the various accountf naually closed into Balance. (Continued on page 183 Counting-IIouse edition.) 120 QUESTIONS ON LEGER ACCOUNTS. For what purpose is the Cash account kept ? What does the debit side show, and why ? What does the credit side show, and why? How is the balance on hand ascertained ? Whichside must be the larger, if either ? How is the account closed ? Why is Merchandise account kept ? What does the debit show, and why ? What does the credit show, and why ? When all is sold, what will the difference between the two sides be ? If a portion remains unsold, what is to be done prior to closing ? How is this account closed ? Why are Real Estate and other speculating property accounts kept, and how treated' l^or what object SLre personal accounts kept? What is shown upon the debit ? What upon the credit ? What by the difference? How are these accounts closed ? Of what is the account of Sundry Debtors the representative ? Why is it used ? What does it contain ? How are entries made therein ? How closed ? Explain the account of Sundry Creditors, and its use. Explain Bad Debts, or Suspended Debts. For what is the account of Bills Receivable kept ? What does the debit show ? What does the credit show ? Which side is the larger, if either, and what does the excess show ? How do you close this account ? Explain the object of Bills Payable, Explain the credit — the debit. Which side is the larger, if either ? How is this account closed ? Explain Bonds ^ Mortgages Receivable, Explain Bonds ^ Mortgages Payable, To what is Bank account similar in its treatment ? What does the debit — the credit — and balance of this account show ? How closed? Is a BanJt account usually kept in the Leger ? Why are accounts kept with Premium, Interest, Expenses, and the like? What is shown by an excess of debit ? What by an excess of credit ? How are such accounts closed ? For what is Remittances account used ? When do you debit, and when credit Remittances, and why ? Which side of Remittances is usually the larger and how is the closure made ? For what other purposes may this account be used ? What does the Loans account represent ? What does the debit side contain ? What does the credit ? What does the difference show, and how is the account closed ? Of what is Profit ^ Loss the receptacle ? During the business, with what is it debited and credited? In closing the books, what are transferred into it ? What does the debit contain ? What does the credit ? What does the difference show ? How is the account closed ? Whom does Stock represent, and instead of what is it used ? What items are placed upon the debit side ? What upon the credit ? ^ How does it show the net capital, or net insolvency f How is it closed ? What does the debit, and what the credit of a Partner's account contain? After receiving the gains or losses, what does the difference show ? How closed ? What is contained on the debit side of Balance account ? What on the credit ? What does the difference show ? How is the account closed ? Wherein does the final proof of Double Entry Book-keeping consist ? Of what is it the result ? Is Balance account generally used in business ? Does the same proof of correctness exist in closing without a Balance account as with it' Q 121 r i THOMAS HARYEY & CO. SET VI. FOREIGN SHIPPING AND GENERAL COMMISSION BUSINESS. •5 123 ftU '. Alix.-V^ \ EXPLANATORY REMARKS, SET VL In every thing connected with this Set, my endeavor has been to make it pre-emi- nently practical To accomplish this the better, I visited in the spring of 1849 some eight or ten of the heaviest shipping-houses in New York and Philadelphia, and con- versed at length with the Principals, and with their Book-keepers, on the nature of foreign transactions ; the port-charges, duties, and other expenses incidental to traf- Ticking at foreign ports ; the method of making payments in, and the currency of different countries, &c. &c. I procured actual foreign Invoices, Account-bales, and Account-Currents : examined into the method of keeping books adopted by the different Accountants with whom I conversed, and compared their ideas with my own : had interviews also with several gentlemen who were formerly Captams m the East India trade : and have thus striven to embody the experience of many, for the good ot ail who may take the trouble to investigate the following pages. . , j x i. There are some details connected with this business which are too extended to be embraced within any limits that could be reasonably appropriated to it, but a little thought will readily supply them. Such details as are given may be relied upon for accuracy, especially in the Adventures to Canton and the West Indies in which the pro- portionate expenses, the time required to make the voyages, and the season of year best adapted to them, have been carefully arranged. » • • u The length of the Canton voyage has forced me to occupy about a year s time with this Set, and I have divided this time into three periods of four months cuch, in order to represent, so far as the closing of the hooks and the agreements of the partners are concerned, a three years business— the first two years with two partners, and the last with three partners. At the end of the first year (represen.^ed by four months) the accounts are closed in the Leger, by bringing the balances down to new account ; and at the end of the second, when another partner enters the Firm, the books are supposed to be full, and new ones to be purchased, into which the business is transferred. Ihe two Day-Books and Legers arc distinguished by being lettered "A. and B. The Cash-Book, in conformity with the usual practice of Shippmg-houses, is made one of the main hooks of original entry, and then, at the end of every month, the entries from it are transferred into the Day-Book, from which all postings are made to the Leger. By this means, the Cash account, to which the debits and credits are very numerous, receives but one debit post and one credit for each month. No.E.-Interest, In this Set, as throughout the work, is calrulat«Hl at six per centum, although seyen per «ntum is Uie legal Intereet In New York SUte, the rate rarying in different States aoooniing to special statutes tl:ercin enacted. CASH-BOOK, SET VI. The Cash^Book is always an important book, for the Cash account is found to be the most difficult to keep correctly of the whole list of accounts, because Cash is the basis of all trade, and is constantly passing out for purchases and expenses, and coming m for debts and sales. ' , , . , - , . t i j. • n ««„it In Double Entry, as well as in single, the debit side of this book contains all cash received, and the credit side all cash paid out, and the difference between the two sides (or the debit excess) should always show the exact amount of cash on hand, countmg-- if you keep no Bank account in the Leger— the amount in bank, as well as that which is not in bank. This balance should also agree, at all times, with the balance ot the Cash account in the Leger, when that account is posted up- ' In connection with Sets I to V inclusive, a Cash-Book would be only for the purpose lust mentioned, to preserve the Cash account from errors; but, as used m this feet, it has another and still more important office, for it is the exclusive and only book ot original entry for ca^h transactions, and the Leger titles (as well as the explanations) should be carefully ascertained and correctly recorded, otherwise the Day-Book entries therefrom will be erroneous. Although generally the Cash-Book may be balanced daily, or at such times and as often as suits the taste and convenience of the book-keeper, yet, as here used, it will be found more convenient to make a formal balance of it but once a month; in order that the monthly total dehit footing of this book (less the balance 124 CASH-BOOK {continued), brought down at the commencement of each month) shall agree with the gross amount of the entry "Cash To Sundries" in the Day-Book; and that the total credit footing (less the balance at the close of each month) shall agree with the gross amount of the entry " Sundries To Cash" in the Day-Book. But once a week, or as often as it is wished to make trial of the correctness of the Cash account, the debit and credit columns may be footed up on a scrap of paper, and then the amount of cash in bank (as shown by the Check- Book) and the amount in Safe may be added together, and if their sum be equal to the difference of the cash columns, it proves the account correct. Some transactions require entries on both the debit and credit sides of the Cash-Book at the same time, as, for example, on the 10th Nov., we have Cash Dr. " To Bills Re- ceivable, No. 8, discounted at Phenix Bank, $5,530.42," as if the firm actually received the full amount of the note; and then, on the opposite side, Cash Cr. "By Discount on Bills Rec, No. 8, pr. contra," for the discount on the note. In making out Account-Sales and Account-Currents, the Cash-Book, which is not posted until the end of the month, must be examined, to see if any items are entered on It which will affect the Account-Sales or Account-Current. So also in the settlement of accounts with individuals. LEGERS, SET VL The accounts of Ship Massachusetts and Adventure to Canton are both left open in closing Leger A, because there is no means of ascertaining the value of the property unsold belonging to either of them. As Insurance has been effected thereon, however It may be considered safe for the firm to estimate each of these accounts as secure for Its cost thus far, and to let them remain open, counting nothing gained or lost upon ineui as yet. There are various ways of transferring accounts from one Leger to another. Some open a Balance account in the old Leger, closing all the accounts into it, as shown in the first Sets given in this work, and then make a Day-Book entry of the effects and debts on commencmg the new business. But the method here shown, of transferrin^ the differences of the accounts direct from one Leger to the other, answers the purpose equally well, when all the accounts are to be transferred, and saves considerable useless writing. Great care should be taken, however, to have equal amounts of debits and credits appear m the new Leger at starting, since, if there is not an eouilibrium, the Leger will ever after be out of balance; just as a pair of scales, with one side heavier than the other, if you continually add equal weights to the two sides, will never hang ^T*- 1^^ 1^^ ^"^^' therefore, that you are in equilibrium, it will be well always to take a Irial Balance of the new Leger immediately after opening all the accounts therein. INSTRUCTIONS FOR WRITING UP, SET VL In the Counting-bouse edition, the Day-Books, Cash-Book and Legers are eiven, because Aecountnnts »nd nth^r, who use It as a book of reference wiU therehj be better accommodated f and ^h^IitislZTt^^^^ merciallnstautions the pupils will be of sufficient age and di.cr^tion to consult their own bc.Tin^,c.ts ly Zt^.7 suiting the book unti aft«r they have finished th<> work for themselves. But in the High-School edi ion thei bi^kii are omitted, and are inserted in the Key, for the use of teachers or of private students. ' Cash-Book, first on loose sheets of paper for correction, and then in the blank books which are preparc^l for Ui«u rnX'^LTV" J!Ind Zr^ ''•'' r^ '•■' '" \' T*^'"^ ^°^-^ '"^ **^* Day-Book-^xclusive cash t^n^tloL, oSJ ^n^l * r . "T;^ i ^°« ""f * .^'.^ ""^"'■®' '"^ ^^^^ Day-Book and Cash-Book, as elucidated. At the end of e-.ch SdT^'Sh To S Lndr^.?' ^'"^ all the entries made in the Ca.h-Book during the month. Commence wittthed't Bide- Ca«h To Sundries —and enter the various receipts to the credit of the proper accounts, and place together th rZ^ 'tT '^T^.^' '^ff^^-^"' 'rr l'"""" '^' *^^"^« "^•^^'^^ «« ^ t« « ^ '*=^ -^** ^^-^» ^^ dcoiUc^ aJ tlJil'^^J r^T"^ ^T dollars and ccnt^ are not used to disUnguish debits from credits, but the first is for items, ana ^::r:^y'zl!:eiZT:'^t:zi,^^^^^^ ^^^^^ ^^ ^""^'-^ ^-^^^--^ ^-- ^« ^-^-^-^> ^^ ^^ ^>- 'r": r,r^u^^ particular and make your own additions, extensions, and other cnlculations. wherever thev occur in anr cLh-Boii/' El«ci^ from time to time, as needed for private use. Title of Firm — *' Thomas Harvey dc Co.'* Thomas Harvey accordingly invests as follows : Cash in Phenix Bank Ship Massachusetts, valued at A Note against Bagley & Thompson, due Aug. 10th, No. 1, Salmon P. Nixon invests Cash in Bank of Commerce 10,750.00 Do. on hand in Safe 31 8.75 11,068.75 A Note against Wm. Longfellow, due July 20th, No. 2, 4,500.00 « « « JonasSavage&Co.," Aug. 30th, "3,2,225.50 « « " EzraCoe&Co., " Sep. 8th, « " « John Vanarsdale, " Nov. 2d, Ginseng, amounting, pr. I.-B., fol. 1, to Store Fixtures, valued at By agreement, the Notes are to be received by the Firm without Discount 1. Ship Massachufetta and Bills Rec. cwt the firm Taluc. T. ITanrey produces the firm Talue. 1 rn 0.1 2. Lilla Rcc^ Mdfe. and Kxpenees cost the flnii ▼*lu«. 8. P. Nixoo produces the firm Talue. ) '^ ' 3: Caph costs the firm value in their indebtedness to T. llaryfy. ) r(j..i|,] 9,000.00 26,000.00 1,000.00 $35,000.00 " 4, 645.00 « 5, 1,960.75 9,331.25 14,000.00 600.00 $35,000.00 4w Cash costs the firm value in their indebtedness to S. P. Nixon. Oth We are preparing the Ship Massachusetts for a voyage to Canton, China ; and have freighted her in part with Merchandise consigned to Hughes, Miller & Co., of that city, to be sold for our % and risk, as pr. O.-I.-B., fol. 1, to wit : Drills, Bo't of A. A. Lawrence & Co., pr. I.-I^., fol. 1, on our Notes, No. 1 rSi 4 mos for 14,000.00 6 " " 14,000.00 u 2 " a it 8 it t( 14,000.00 42,000.00 Ginseng from Store, invested by S. P. Nixon, as pr. I.-B., fol. 1, 14,000.00 Lead, Bo't of Haines, Hampton & Co., pr. I.-B., fol. 1, pr. Check on Bank of Commerce, Am't 7,000.00 $63,000.00 Paiued our Note No. 4, @ 12 mos., to the Atlantic Insurance Co., for Ins. on $72,000, @ 1« % . 1,080.00 ^ And for policy * 1-25 1,081.25 Com. on $63,000, @ 2* % 1,575.00 2,656.25 Due, pr. Average, Nov. 12th, $65,656.25 It matters hut little making all subsequent wits." " Adventure ijerceive that the sum msm^i. lo ™.~v •« ►■■ . ^^«.». — « — r \^ . ^ • , -. . i^k «.« This Adventure has now cost value, and Rills Pay., Mdse, Haines, Hampton k Co., and Com. have produced tiIim. [v.-B.] Afsain, llaines, Hampton A Co. have cost valae in Cash. [C.-B.J Agreed with John Hollingshead & Co. to bring home for them, from Canton, in the Ship Mas- sachusetts, Fillmore master, 250 Tons Freight @ $20 pr. Ton, allowing them also the privi- lege of sending out Freight to Canton, by said Ship, to an amount not exceeding 200 Tom*, IVce of charge. A Captain, 1st and 2d Mates, Carpenter, Steward, Cook, 10 Seamen, and 2 Boya, compose th« crew of the Ship Massachusetts. Ko Day-Book entrj is raqnind tar this bistorj. It is a small pieoe of informatioB ftarnlsbed jwx for uss hereafter. : 126 ~~ ^ HISTOKY AND ELUCIDATIONS, SET VI. New Fork, July 1 2th, 1S52. Bo't of various Persons, as pr. Bills, the following Provisions for Ship Massachusetts : Pr. Check on Phenix Bank, 20 Bbls. Beef @ $11, 220.00 « " " " « 20 " Pork " 9, 180.00 400.00 « « " Bank of Com. 100 « Bread « 3, " 300.00 " " " " " Cabin Stores and SmaU Store s, 450.00 750.00 Paid Cash for getting 4,000 Gals. Water on board, 10.00 $1,160.00 « Keep an account of the outgoes for, and income from the Ship under its own head, separate from the Adrentn^^ Ship Massachusetts costs value. Cash produces value. [C.-B.] - 14th Rec'd the Passage-money of 6 Passengers to Canton, pr. Ship Massachusetts, (which we have deposited in Bank of Commerce,) @ $300, $1,800.00 Ship^Iansachusettfl produces value in Cash. [C.-B.] The fact Uiat this Cash was deposited in the Bank of Commerce does not alter the entry, and need not he mentioned In theOMh-Ikwk. It ifl given here that you may be able the better to understand the Check-Book. You will find minute details of the business frequently given in this ni«tory, for the purpose of making the whole transactions clear to your mind ; but which need not be written in your booka» While omitting them, however, you should be careful to leave out nothing which is important to be recorded. 16th Paid the New York Ins. Co., by our Note No. 5 @ 12 mos., for Ins. on the Ship Massachusett£, for $27,500, @ 7 7^ . 1,925.00 And for policy 1.2 5 $1,926.25 Ship Blassachusetts costs value in Bills Pay. \P--B.] « Paid Custom House Charges in Cash, for Clearance of Ship Massachusetts, which sails this day for Canton, $5.60 Ship blassachusetts costs value in Cash. [C-B.] 20th Bills Rec, No. 2, drawn by Wm. Longfellow, favor of S. P. Nixon, deposited in Phemx Bank on the 10th inst. for Collection, comes due this day, and is paid at the Bank Am't $4,500.00 Cash coKt" value in Pills Rec [C.-B.] In a re«l business, the Cash-Book would here require an entry of the Cash received, the Bill-Book a memorandum of the payment of this Note, and the Check-Book a record of the deposit in Bank of the proceeds thereof You may make the entry is the Cash-Book only for the present, but refer to the Bill-Book and Check-Book given, to see the connection between the oitriaa. Aug. 2d .. Charted of Hollistcr, Son & Co., the Bark Phillis, of 200 Tons register, for a voyage to Kingston, Jamaica, and back to New York, by way of Havana, with 25 lay days in the two ports. We are to pay all foreign Port Charges, and $2,000 Charter-money — one-half con- sidered earned at Havanna. Demurrage, $25 pr. day. No Bay-Book entry is here requisite. Lay days are the days agreed upon for a vessel to remain in pori Demurrage is the forfeiture for each day she k detained beyond the time specified in the Charter-party— which is the agreement drawn up between the parties when a vessel is chartered. U Passed our Note, No. 6, @ 12 mos., to the American Mutual Ins. Co., for an open policy of Insurance, to cover all shipments by us or consignments to us, during the year, within the limits of the United States, or the West Indies, until the premium on the same amounts to the Note, $2,000.00 This method of Marine Insurance Is quite customary. The Ins. Co. takes a Note as security jf^ certidn amount ot premium, and furnishes the House insuring with an open policy. Then, at any time, when the House ships goods m receives information of goods being shipped to them, they notify the Ins. Co, and get it entered on this open policy. At the end of the year, if no losses have occurred, settlement is made, and so much of the Note is paki as has been uc«d up Kw the Prem. on goods insured. A p«!r centage is also charged by the Co. (usually 10 per cent) on the BaL of the Mote. V goods so insured are lost, the Note is returned in part payment thereofl Here the American Mutual Ins. Ca has cost value in our Note. 1 m u t BilU Paj. bM produced vahie in the obligation of the Co. on open policy, j L^**^-J >1 ;•( 127 t HISTOEY AND ELUCIDATIONS, SET VI. $4,540.00 Neu) Fork, August 2d, 1852. Bought of Morton & Godwin, pr. Check on Phenix Bank, Flour, pr. I.-B., Bought of Otis & Brother, pr. Check on Bank of Com- merce, Meal and Corn, $3,540.00 Shipped the above on board Bark Phillis, Bingham, master, bound to the West Indies, and consigned as pr. O.-I.-B., p. 1, to Danie) Starr & Co., Kingston, Jamaica, to be sold for our % and risk. Am't ,^ . 8,080.00 Insured for the voyage in American Mutual In*. Co., on open policy, $9,000, @ 3 % 270.00 And for policy 1.25 271.25 Drayage and Labor 71.50 Commission on 88,080, @2»% 202.00 544.75 $8,624.75 -A. Adventure pr. Bark PhilUs crmU yalue. Morton A G'xiwin, Otis k Brother, American Mntnal Int. Co., ChargM, and CommUrfon haTe each prodnoed Talne. [D.-B.l Chari;;e« is an account to which we credit all Bums charged for drayage, labor, storage, weighing, 4c., on goods consigned t* us to be sold, and debit sums paid draymen and laborers, when their bills are rendered, or their month'i wagM to du*. Again, Morton t Godwin and Otis and Brother have cost the firm ralue in cash. [C.-B.] 10th Bagley & Thompson's Note, No. 1, Thomas Harvey's favor, fell due and was paid this day, at the Phenix Bank. Am't $1,000.00 Bills Rec produces value in Gash. [C.-B.] ^ 24th Paid Thomas Harvey Cash on % $130.00 30th Jonas Savage & Co.'s Note, No. 3, favor of S. P. Nixon, fell due and waa paid this day, at the Bank of Commerce. AmH $2,225.50 3l8t Paid S. P. Nixon on ^ pr. Check on Bank of Commerce '' Wages of Clerks to date in.-B.J Oct. 5th 1 I Having rec*d advice, pr. Mail, (by Steamer to Charleston,) that an Invoice was about to be .^hipped from Havana, pr. Bark Phillis, of upwards of $14,000, we have effected an ad- ditional Ins. on open policy, in the American Mutual Ins. Co., for excess of homeward Cargo over the $9,000 insured thereon. $6,000, @r^ $90.00 Adyenture pr. Bark PhflUs here costs yalue. American Mutual Ins. Go. produces yalue. 128 HISTORY AND ELUCIDATIONS, SET YI. New Fork, October 11th, 1852. Tno Bark Phillis arrived in port this day, having reached Kingston, Aug. 27th, and Havana bept. 10th, and having been detained in the two ports 30 days. At Kingston, the Flour, Meal and Corn were sold, as pr. the following Account-Sales received. ' Sales of Merchandise, received pr. Bark Phillis, Captain Bingham, from New York, for account and risk of Messrs. Thomas Harvey ^ Co. BsQUER Brothebs, Payable (a 60 days, 600 Bbls. Flour Prstost & Delanet, @ 30 days, 700 Bbls. Corn Meal 100 Bags Com S. W. Cattell & Sow, 600 Bbls. Flour Mitchell, Atterbt & Co., © 60 days, 800 Bags Corn 800 Bbls. Corn Meal @28«. @18*. " 8*. 028<. @ 8*. " 18*. Charges. -<< (I (I <( 3d To Cash paid Duties, 1000 Bbls. Flour /a 1000 " Meal « 400 Bags Corn «« Port Charges on vessel AVTiarfage Lighterage Advertising in Kingston papers Bank Discount on Sales Prera. & Stamps on Sterling Bills Exchange in favor of Suarez Brother & Co., Havana, (a CO days Com. on £2,400 © 5 ^ ^ . j BaU, being Net Proceeds of Sales, carried down By Net Proceeds Bro't down To ft Set of Colonial Bnnk Bills, on Court Directors, London, in favor of Daniel Starr & Co., and endorsed by them over to Messrs. Suarez BroUiers & Co., Havana, To a Sot do. do. do. To a Set of Jamaica Bank Bills, on Baring Brothers & Co., London in favor of Daniel Starr & Co., and endorsed by them over to Messrs. Suarez Brother & Co., flavona, @ 60 days. E. & 0. E. Kingston, Jamaica, Sq>L 0th, 1862. Dairel Starr & Co. pr. John Brown. 630 40 «. 120 270 150 31 6 C5 30 2 28 33 123 1,994 £2,460 1,000 794 200 6 3 17 4 8 14 17 10 £ 700 s. 3 9 6 6 670 700 390 £2,460 d. £1,994 10 £2,460 10 1,994 £1,994 10 10 The Steriing Sets of Exchange obtained for the Net Proceeds of this Sale, were taken to Havana, and tl^re sold, as appears by the Account-Current of Suarez Brother & Co., Com. Merch^ ni • jT' P'weeds used by them in purchasing Sugars for our %, as pr thi R 129 J r .» HISTORY AND ELUCIDATIONS, SET VI. New York, October 11/A, 1852. Invoice of Sugars, shipped ly Snares Brother # Co,, pr. Bark Phillis, Captain Bingham, for Neio York, hy order, and for account and risk of Messrs. Thomas Harvey ^ Co, p. B. #1 to 300 P. C. #801 to 500 P. D. # 501 to 600 800 Boxes Sugar, ea. 20 arobes (25 lbs. pr. arobe) 6000 arobes, @ 6 rials 300 Boxes % 26 rials 200 Boxes Sugar, ea. 20 arobes, @ 6 rials 200 Boxes @ 26 rials 100 Hhds. Sugar, ea. 60 arobes, @ 5 rials 100 Hogsheads @ $6 Export Duty, Charges, 8 rials pr. Box 7« *« " Hhd. DolB. 4,500 975 3,000 660 Rials, 3,750 500 ^187-4 93-6 Cartage & Weighing, 2 " " Box 4 " " Hhd. Brokerage on $13,375, @ i ^ Consul's Certificate $125-0 60-0 Com. on $18,900 @ 2« ^ E. & 0. E. Havana, Cuba, Sept. 28M, 1852. K 8. Curretuy, S14,247.63 SUABEZ BbOTHEE & CO. 281 175 66 2 7 Dolfl. 5,476 8,650 4,250 Rials. $13,375 525 0^ $13,900 347 $14,247 1 4 They also paid the Charter money falling due at Havana, and the Port Charges at that place, remunerating themselves for the excess of outlay over the proceeds of the Sets of Exchangq. received from Kingston by drawing on us for the balance, charging 1' % for negotiating the Draft, and 3 fc as the rate of exchange required to convert it into Cftsh : — all of which appears by the following Account-Current. Messrs. Thomas Harvey # (7o., -^ In Account with Suarez Brother ^ Co, To One-half Am't Charter Money, paid Captain ♦* Invoice of Sugars, purchased for them «* Cash paid Port Charges By a Set of Colonial Bills for £1 ,000, sold @ 9% Prem. $4, u can tra«e out the details here stated as follows :-Turn to Sales of fc>ugar. No. 1, in your Leger. and if it L posted up u, this point, you wi^kfind two credits amounting to $22,69,% which, by reference from the Lejrer to I*: v-I!ook. and fr.Sn the I)ay-Book to &ale#ftook, you will see are the Total Proceeds of Sugar sold. You will aUo find, en the credit >ide of vour Ca^h-Book, one debit (not yet posted of |4.274.29, which you will see is the charge for Duties paid. DcJucting thS^Yyi^ f^ .if ^°if ^^rr^"' yo" ^'^v® $1S,42U.71, the Am't which must Le debited to the account to close it. 1 hi^ Am't i" made up of the following items : ^ ux ^ ,. uuun: Cooper.T4,'e, Storage, & I^bor, which are supposed to have ifeen preserved in small memorandum books, kept fat the vat- pofw, until this time. Int. on Duties from time of payment, so as to bring the charges all up to the present date, for can- vemenoe m averaging. Com. of firm on Sales «22,695, fiX'» c/; and Kct Proceeds, due Adventure after paying all charge. — 20th Accepted a Bill of Exchange of Messrs. Suarez Bro. & Co., Havana, on us, @ 30 days sight, for Suarez Bro. A Co. hare cost the firm ralne in Bills Pay. 22d $6,430.77 There is Interest to be charged Adveature pr. Baxk Phillis, as pr. Account-Current of date (A.-C.-B., fol 1,) 699.09 ' The Net GainI, as shown by the Account-Current, tire 822.52 $1,521.61 AdTcntnre pr. Bark PhilUs haa here cost ralue, and Int has produced value, S699.09 :— and in order to tranrfer the Krt Gains to Profit and Loss account, you must also debit the Adventure, and credit Profit & Lobs with $822.52— thus making the entry "Adventure pr. Bark Phillis To Sundries." "i«»i«i -, 30th - Paid Draymen and Laborers in Cash, *^'Wages of Clerks to date '' Rent of Store u u 94.75 95.00 400.00 495.00 ObtHi^d the requisite amount of funds in hand, by checking on Phenix Bank for $600. Charges and Store Expenses ha-^e cost value in ^ash. ' JEMd of jir&t yearns business, 131 §589.75 I HISTOEY AND ELUCIDATIONS, SET VI. New York^ November \st^ 1852. We have agreed, pr. correspondence, to enter into a Pork Speculation in Company with Faxon, Field & Co., Cincinnati, sharing equally with them in the expenses and proceeds thereof; they to receive 2* fo for purchasing, and we 2* % for selling. They have accordingly purchased 1,000 Bbls. Pork, and shipped to us, as pr. advice this day received, on which we have effected an Ins. in the American Mutual Ins. Co., on open policy, for $10,000, @1* %. $150.00 We will call this " Sales of Pork, Co. A." Sales of Pork, Co. A^ has here cost value, utd American Mutual Ins. Oa has produced Talue. 2d John Vanarsdaie's Note, S. P. Nixon's favor. No. 5, deposited in the Bank of Commerce on the 18th ult. for collection, falls due this day. Am't $1,960.76 Cash costs value in Bills Receivable. [C.-B.] 5th -> Rec'd, JM". Steamboat, Canal, and Railroad, via Pennsylvania, from Faxon, Field & Co., Cin- cinnati, 1,000 Bbls. Pork, (marked TH,) to be sold for their and our joint %, amounting, pr. Invoice of the 26th ult., to ?>9,256.25, of which our J is $4,628.12 Paid Freight, pr. Check on Phenix Bank, 850.00 The Drayage amounts to 81.25 881.25 $5,509.37 Fales of Pork, Co. A., has cost the Firm value in their Indebtedness to F., F. ft Co., and in Freiirht and Pray age. £nter all except the payment of Freight in the Dcj-Book, [D.-B.]— but place this payment in th« Casii-Book, [C.-B.] 6th Paid the Saratoga Fire Ins. Co., pr. Check on the Bank of Commerce, for Ins. on Stock of Goods in Store, for one year, to the Am't of $15,000, @Vfoj 225.00 Policy 1.25 $226.25 Tou may debit Charts with this cost, and lot it stand to that aooonnt, to oorer SMne credits of Ins. which will hereaftar occur. Cash has produced value. [C.-B.] it Sold to Jeremiah Brown 500 Bbls. Pork, belonging to Co. A., @ $11 Took his Note, No. 8, @ 30 days, for $5,530.42. The Discount on $5,530.42, for 33 days, (to make it equal to Cash,) iB SalM of Pork, Co. A., and Discount have produced value in Bills Bra $5,500.00 30.42 $5,530.42 Remitted to Faxon, Field & Co., pr. their Order of 1st inst., a Bill of Exchapge on Bacon & Bo»» well, Cincinnati, purchased at par of Clark, Prime & Co., pr. Check on Bank of Commerce, for $5,000.00 Faxon, Field A Ca have cost value in Cash. 8th Bo't of Caleb Johnson, on our Note, No. 8, @ 6 mos., 150 Hhds. CubJ Molasses, 15,360 Gals., @ 19 /^ 125 " " Sugar, 157,500 lbs., " 4» 500 Bbls. Lard, 100,000 " « 5* Mdse. has cost value in Bills Payable. : 10th 2,918.40 7,087.50 5,250.00 $15,255.00 Sold to H. S. Pierson & Co., for their Check on Phenic Bank, which we have deposited, 500 Bbls. Flour— Sales for % John Gundry & Co.— @ $5. 2,500.00 ^ 500 " Pork —Sales of Pork, Co. A.* — " 10 75 5,375.00 $7,875.00 Sales for account of John Oundiy A Co., and Sales of Pork, Co. A., hav« tmetx produced value in Cash. Had J. Brown's Note, No. 8, due Dec. 9th, discounted at the Phenix Bank. Am't $5,530.42, netting 5,503.69 Dis. for 29 days ia 26.73 $5,530,42 Fills jtee. bas produced vain* in Cash $5,530.42. I ro y permitting ii Bendered Faxon, Field & Co. an % Sales of 1,000 Bbls. Pork, sold for % of " Sales of Pork, Co. A." Total Sales . mo-rr/^r. ' Deduct Charges entered " " and Commission as below Net Proceeds Interest on Charges to dat€ Storage, Labor, Cooperage, &c. 41 50 Ins. vs. Fire, 1^ % on $10,000 Com. on 10,875, @ 2^ % Faxon, Field & Co.'s } Net Proceeds, due 10th inst. 1,031.25 465.19 1.82 10,875.00 1,496.44 $9,378.56 150.00 191.50 271.87 4,089.28 $5,154.47 Co^S "tL^'k^e^-lL^'^Tp^^^t '"'" ''^'"^ *"' ^'"•' '^"'^ '" *^« indebtedness of the Firm to Faxon, Fk.M M cc Our Share of the Net Proceeds from " Sales of Pork, Co. A.," is " " " First Cost Do. was 4,689.28 4,628.12 Making our Net Gains $61.16 Tou here debit Sales of Pork, Co. A., with the Gains thereon, and credit Profit * I^oss. This ig a mere transfer entrv to Uk« the Gains to the proper receptacle for them, and the Eide for determining debits and credits m^^SdZZt^^ 16th . 4._ Sold to James Maitland & Co., for Cash, (dep. in Bank of Commerce,) ^n^T?A^'- Jfr^- Am't, pr. S.-B., 5,250.00 50 Ilhds. Molasses. " " 1,024.00 $6,274.00 Mdse. has produced value in Cash. 22d Paid, at the Bank of Com., our Note, No. 7, draft of Suarez Brother & Co., Am't $6,430.77 ' Dec. 6th ==---=^= ^l^^^T?i'^^ ^ Nesmith, for their Ch^k, which we have dep. in the Bank (rf Commerce, 1^0 Hhds. Sugar. Am't, pr. S.-B., ^ $7 375 00 ^ ■ 10th ! L_J Paid James Buchanan, pr. Check on Bank of Commerce, the Bal. due John Gundry & Co in accordance with advice received from them, as pr. letter of 1st inst ' Am't due Nov. 12th j 930 53 Interest for 28 days on $1,932.53 ' 9.02 $1 941.55 John Gundry A Co. and Int have cost value In Cash. "^ ' ' "=-- - Jan. 10th, 1853. '^ _ •The Phenix Bank has discounted J. FalstaflF& Co.'s Note, No 6, due April 18th /53 Am t $16,4o5— Dotting \ 16 186 23 Discount for^8 days, on $16,455, is . '208;77 $16 455 00 — • 12th *' ^ Paid, at the Phenix Bank, our Note, No. 2, favor of A. A. Lawrence & Co. -Am't $14,000.00 133 HISTORY AND ELUCIDATIONS, SET YI. New Fork^ January 15/A, 1853. Faxon, Field & Co., Cincinnati, and Douglass, Forest & Co., of this City, have agreed to join us in a Company Speculation — the parties to share equally ; Douglass, Forest & Co. are to furnish White and Brown Sugars, Molasses, &c., at prices agreed upon, for two-thirds of which we are to give them our Note, payable @ 6 mos. One-third so purchased by us is for ^ of Faxon, Field & Co., and to apply against what we owe them. We are to attend to the Business, receiving 2*^ Commission, and 2*% Guarantee. Accordingly, we have received this day from Douglass, Forest & Co. an Invoice of Loaf and Crushed White Sugars, Muscovado Sugar, N. 0. Molasses^ and Rice, delivered at our Store, free of charge. Amounting to $12,465.36. Gave them our Note, No. 9, @ 6 mos., for our i of Invoice 4,155.12 And for Faxon, Field & Co.'s i « « 4,155.12 $8,310.24 We will call this " Sales of Mdse., Co. B." Bills Payable has produced the Firm Talue, »8,310.S4. « Sales of Mdse^ Co. B ," and f axon, Field A Co. have eadi ooit the firm their } of the Ihtc^o*. _ 21st Sold James Maitland & Co., on Note No. 9, @ 4 mos., a Lot of Loaf and Crushed White Sugars, belonging to Sales of Mdse., Co. B., Amounting, pr. S.-B., to $4,657.25 Sales of Mdse^ Co. B., has produced Talue in Bille B«oeiTable. — Feb. 1st ==' Bo't of Bailey & Welsh, on our Note, No. 10, @ 6 mos., 2,000 Sacks of Coffee, 131,520 lbs., @ 6^/^ Mdse. has cost value in Bills Payable. 5th $8,548.80 Shipped, pr. D. Leech & Co.'s Line, via Pennsylvania, and consigned to Faxon, Field & Co , Cincinnati, to be sold for their and our % jointly, as pr. Correspondence, 2,000 Sacks of Coffee, pr. O.-I.-B., 131,520 lbs., @ 6- Insured in American Mutual Ins. Co., on open policy, $9,500, @Vfo Drayage, Labor, Weighing, Mending Bags, &c. Commission on $8,548.80, @ 2'^% i Invoice for % of Faxon, Field & Co. $4,483.11 \ « " " Adventure to Cincinnati, Co. C. 4,483.11 8,548.80 142.50 61.20 213.72 $8,906.22 Faxon, Field k Co. and Adventnrd to Cincinnatj,Co. Chare cost yalue. Mdse., American Mutual Ins. Co., Charges, and Com. have produced Talue. 19th Sold to Watson G. Gaylord, for his Note, No. 10, @ 10 days, 50 Tierces Rice, belonging to Sales of Mdse., Co. B. 28th ♦2,931.50 Rendered Faxon, Field & Co. and Douglass, Forest & Co., each, an % Sales of Sugar and Rice belonging to " Sales of Mdse., Co. B." Am't, pr. S.-B. Deduct Charges and Com., as below ^ J^et Proceeds Insurance vs. Fire on $6,500, (J Am't insured,) @Vfo Cooperage, Weighing, and Labor Commission and Guarantee on $7,588.75, @hfo Faxon, Field & Co.'s i Net Proceeds, due April 27th . Douglass, Forest &Co.'si " " " " " 7,588.75 496.56 $7,092.19 97.50 19.62 117.12 879.44 2,364.06 2,364.06 $5,224.68 Sales of Mdse., Co. B, has cost ralne in Chars»*s» Com., and in the Firm's indebtedness to Faxon, Field k Co., and Dong- lass. Forest 4 Co., for their respective shares of Net Proceeds As the Mdse. belonging to this Co. is not all sold, the closing entry, transferring Gains into Profit 4 Loss, Is not now to be made in the Day- Book. The closure will, howeTer, be made in the Leger, and our Share of the BaL rcmaininggMi hand be brought down to the New Year's business. (( •Paid W%ges of Clerks, (pr. Check on Bank of Com.,) 110.00 « Rent of Store ^' « « " 400.00 510.00 195.00 ** Laborers & ©raymen, " ti It ti $705.00 End of second year't hunnegs. 134 HISTORY AND ELUCIDATIONS, SET YI. New Fork, March 1st, 1853. James L. Grant has been associated as one of the partners of this concern ; the firm stiU to retain its original title, "Thomas Harvey & Co." The former partners are each to share two-fifths, and James L. Grant one-fifth of the gains or losses in business. The partners to receive interest on their several investments. James L. Grant invests Cash on deposit in Phenix Bank $15,000.00 , Cash costs the firm Talue. James L. Grant produces Talue in his iuTestment. [C.-6.] 4th Watson G. Gaylord's Note, No. 10, deposited in Bank of Commerce on the 1st inst. for collec- tion, was this day protested for non-payment, and returned to us 2,931.50 Paid protest in Cash 1.50 «2,933.00 Bills Rec. hare a beginning, a duration, and an end. Thia Note is at an end, it having matured without being jsaid. It has also subjected the firm to the expense of protest. They therefore consider the drawers respoufiible to tlicm for the Note and protest, which they retain as evidence of the obligation. Bill Rec. has produced Talue in the indebtedness of W. O. Gaylord, $2,931.50. [D.-B.] Cash has produced Talue iu the indebtedness of W. G. Gaylord, $1.50. [C.-B.] 12th Paid at the Phenix Bank, our Note, No. 3, favor of A. A. Lawrence & Co., Am't » $14,000.00 25th Gave our Note, No. 11, @ 6 mos., for Insurance effected in the Atlantic Ins. Co., on Cargo of Ship Massachusetts, now on her homeward trip from Canton, for §75,500 @V%f and policy $1,133.75 Adventure to Canton has cost Talue in Bills Payable. April 9th Sold to Leonard Barber & Co., for their Note, No. 11, @ 6 mos.. The Bal. of Sugars and Molasses belonging to Sales of Mdse.,Co. B, Am't pr. S.-B. $5,525.00 (( Rendered an Account-Sales to Faxon, Field & Co., and to Douglass, Forest & Co., of Sugars and Molasses, belonging to Sales of Mdse., Co. B, Am't pr. S.-B. Deduct Charges and Commission, as below 9 Net Proceeds Ins. vs. Fire on $6,500 @ 1* % Cooperage, Weighing, Labor, &c. Commission and Guarantee on $5,525 @ 5 ^ Faxon, Field & Co.'s } Net Proceeds, due Oct. 26th Douglass, Forest & Co.'s " 97.50 9.85 (C u (I u u 5,525.00 383.60 ^5,141.40 107.35 276^5 1,713.80 1,713.80 $3,811.20 tt, We find, on examination, a Loss on the last Sales effected for % of Mdse., Co. B, of $166.45 When this aoteunt was closed in the old books, the Firm's share of Mdse. remaining unsold was estimated at its coe^ •1,880.25, while Iheir share of the Net Proceeds now is only $1,713.80. A sudden depreciation in the price of Sugar Molasses, owing to the market being OTerstocked, has caused this Loss. Debit Profit & Loss, and credit Sales of Mdse. Co. B, to close it. [D^B.] 5 21st Note No. 7, our favor, L3nnan F. Bache drawer, deposited in Phenix Bank on 13th inst., falls due this day, and is paid, Am't $6,240.00 •— 26th Watson G. Gaylord has paid us Cash for his Note, No. 10, which was protested at the Bank of Commerce on the 4th ult., and charged to his %. Note and protest , * 2,933.00 Int. on $2,933, for 53 days • 25.91 $2,958.91 • Deposited $2,500 in Phenix Bank. Watson G. Gaylord and Int. haTe produced Talue in Cash. [C.-B.] 30th Sold to Peter Parker, for Check on Phenix Bank, deposited, • • 100 Hhds. Cuba Molasses, 10,240 Gals. @ 19/ $1,945,60 . Mdse. has produced Talue in Cash. ' • y 135 ill! HISTORY AND ELUCIDATIONS, SET VI. New Fork, May 6lh, 1853. The Sbip Massachusetts arrived in port this day, direct from Canton, and we have received from Captain Fillmore the following Account-Sales, Invoices, and Account-Current, rendered by Hughes, Miller & Co., Commission Merchants of that City. 4.ccount- Sales of AfcrcJianifise received pr. Ship Massachusetts, Capt. Fillmorey from New York, for account of Thomas Harvey & Co., owners of said Ship. C. T. C. # 1 to 500 #501 to GOO 500 Bales Drills, ea. 40-Pieces=20,000 pa. @ $2.30 100 Casks Ginseng, Net 270 Piculs (133* lbs. ea.) " 50.00 2,000 Pigs Lead, 1,050 - -- «i «« 6.50 Charges, Labor, Landing, Weighing, &e. Commission, 2^ fo on $66,325 $237.00 1,658.12 Canton, Dee. lOM, 1862. Net Proceeds HUGHSS, MiLLKK & Co. 46,000 13,500 6,825 66,325 1,895 $64,429 00 00 00 00 12 88 :=: Invoice of Tea, shipped hy Hughes, Miller & Co., pr. Ship Massachusetts, Captain Fillmore, for New YorJc, ly order, and for account of Messrs. Thomas Harvey & Co., owners of said Ship. lUrk. No. C.T. #1 2 3 4 5 Chests. Chops. 500h'f Chests: MoiCbun Kind. 1,000 " * 200 Chests 500 ♦♦ 1,000 " Wo Chun Yoing SamChun Bo'tof Pouchong Y'ngHyson Hyson HysonSkin Suagna Yengua Eshing <{ How Tal iSouchong Eshing Oroas lbs. 25,500 Tare lbs. 6,508 79,974|14,978 19,8901 3,954 50,120 10,040 101,256,21,256 Net lbs. Piculs— TmIs. E.E. 18,992 142TVff@ 14 64,996 487 iVff ** 50 15,936 119|ViJ " 42 40,080 300 iVff " 11 80,000 600 " 15 @ 72 candarines pr. dollar Paid for Matting 80.00 '« *« Papers • 20.00 Com. on $60,786.25, @ 2 ^ 1,215.73 Canton, Jan. 1st, 1853. Dollars HUGHSS, MiLLEB & Co. Taels. 1,994 24,373 5,019 3,806 9,000 43,694 $60,686 1,315 $62,001 MsceCaik 1 5 8 6 9 4 25 73 98 Invoice of Matting, shipped hy Hughes, Miller & Co., pr. Ship Massachusetts, Captain Fillmore, for New York, by order, and for account of Messrs. J'homas Harvey & Co., owners of said Ship. U. T. ^6 1,000 Rolls f White Matting, ea. 40 Yards, 40,000 Yds., @ \Af Commission on $5,600, @ 2 ^ Canton, Jan. \st, 1853. £. £. « HUQHXS, MiLLXB & CO. Messrs. Thomas Harvey & Co., in Account witff Hughes, Miller ?''^''"*^ taleR-16 tales to a catty, and 100 cattiea to a picuL A picul is 13;;^ lb«. avoiidapcil weighU bhroffage is the charge made by Shroffs or Bankers. i •»• •Tuuuup- * HISTORY AND ELUCIDATIONS. SET YI. /, New Fork^ June 1st, 1853. The Total Proceeds of Sales of Tea, No. 3, Am't to Deduct Charges entered Additional Charges, Cartage Labor, receiving and delivering 1 mos. Storage Interest on Charges to date Com. and Guar, on $93,293.63 @ 5 % Net Proceeds, due Adventure to Canton, pr. average, Dec. 14th 93,293.63 6,000.00 $87,293.63 110.00 82.00 64.00 10th Sold to Fithian & Morris, for their Note, No. 16, @ 4 mos. 1000 Rolls V* White Matting, 40,000 Yds., @ 21/ Sales of Matting, No. 2, has produced value in Bills ReceiTable. 11th 256.00 23.00 4,664.68 82,349.95 187,293.63 $8,400.00 yllec'd an Account-Sales from Faxon, Field & Co., Cincinnati, of Coflfee belonging to Adventure to Cincinnati, Co. C. Net Proceeds $9,422.72, due pr. average An^. 10th. Our J is $4,711.36 Adrenture to Ciaciiuxati,Co. C, has produced Talue in the indebtedness of Faxon, Field & Co. (( - Paid S. P. Nixon, on % pr. Check on Bank of Commerce Thos. Harvey, " " " « " « « . 15th / ^Th( u 500.00 450.00 $950.00 The Total Proceeds of Sales of Matting, No. 2, Am't as pr. S.-B. to 8,400.00 Deduct Charges entered 3,928.00 Additional Charges, Cartage Labor, receiving and delivering Interest on Charges to date Com. and Guar, on $8,400, @ 5 % 15.00 30.00 / Net Proceeds, due Adventure to Canton, pr. average Feb. 23d, 1854 18th $4,472.00 f 45.00 24.22 420.00 * 3,982.78 $4,472.00 i Bo't of Brown & Co., pr. Check on Bank of Commerce, a Set of Exchange, @ 90 days' sight^ on Baring Brothers & Co., London, and remitted the same to cover Hughes, lililler & Co.'i Drafts from Canton, Jan. 1st, @ 6 mos. sight, due in London, Oct, 3d, £1,500 London Bankers Com. 2 % 30 j£l,530. £1,530, @ 8 % Prem. $7,344.00 20th Bal. of Int. to be debited Adventure to Canton, pr. Account-Current of date Net Gains, as shown by the Account- Current ^ 30th 4,167.21 11,783.56 '$15;950r77 Checked on Bank of Commerce for $900, and paid in Cash, Wages of Clerks Rent of Store Draymen and Laborers 265.50 400.00 665.50 237J0O • $902.50 « The debit Bal. of Interest on the % of Ship Massachusetts, reckoned to July 1st, is $1,431.84 Ship Massachusetts has cost Talue. Interest has produood Talue. (( — Int. on Capital to July Ist (t (t (( a it « James L. Grant " « ** " " " Interest has cost the firm Talue. Each partner has produced the firm raloe. Due Thos. Harvey, •* S. P. Nixon ti 735.00 735.00 800.00 $1,770.06 138 THOMAS HARVEY & CO. DAY-BOOK A, SET VI. 129 r t it DAY-BOOK A, SET VI. New-York, July 2d, 1852. L.F. 1 1 1 1 1 2 2 2 2 8 1 2 1 1 1 1 2 2 1 Thomas Harvey and Salmon P. Nixon have this day entered into partnership, as pr. articles of agreement. , Sundries Ship Massachusetts, Bills Receivable, Sundries Bills Receivahle, Merchandise, Expenses, To Thomas Harvey, Valued at No. 1, due Aug. 10th, pr. B.-B. To Salmon P. Nixon, No. 2, due July 20th, pr. B.-B. No. 3, « Aug. 30th, " " No. 4, " Sept 8th, " " No. 6, " Nov. 2d, " " Ginseng, pr. I.-B., fol. 1, Am't Store Fixtures, valued at 9th 4,500.00 2,225.50 C45.00 1,960.75 Adventure to Canton To Sundries, For Mdse., as pr. O.-L-B., fol. 1, shipped on board Ship Massa- chusetts, and consigned to Hughes, Miller k Co., Canton, China, to be sold for our % and risk, and for Expenses attending Ship- ment Due pr. Average, Nov. 12th. To Bills Payable, Paid A. A. Lawrence & Co., for Drills, as pr. I.-B. fol. 1, by our Notes, No. 1, @ 4 mos., 14,000.00 No. 2, « 6 " 14,000,00 No. 3, " 8 " 14,000.00 Also gave our Note, No. 4, @ 12 mos., to the Atlantic Ins. Co. for Ins. on $72,000 @ 1^ % and Policy 1,081.25 Merchandise, Ginseng, from Store, pr. I.-B., foL 1 Haines, Hampton & Co., Bill of Lead " « " " Commission, On $63,000 @ 22% 16th n it 25,000 1,000 9,331 14,000 600 00 00 25 00 00 Ship Massachnsetts To Bills Payable, Our Note, No. 5, @ 12 mos., favor of New York Ins. Co., for Ins. on this Ship for $27,500 @ 7% and Policy 3l8t Cash To Toomas Harvey, " Salmon P. Nixon, " Ship Massachusetts, " Bills Receivable, To Sundries, pr. C.-B. 2d u 14th 20th u Sundries Haines, Hampton & Co., Ship Massachusetts, To Cash, a it pr. C.-B. « 9th 12th 16th Aug.'2d American Mutual Ins. Co. To Bills Payable, Issued our Note, No. 6, @ 12 mos., for an open policy of Ins. on all Shipments by us, or Consignments to us, during the year, within the limits of the United States or West Indies, until the Prem. on the same amounts to the Note. 140 43,081 14,000 7,000 1,575 1,160 26,000 23,931 25 00 00 00 00 60 00 25 65,656 1,926 9,000 00 11,068 75 1,800 00 4,500100 26,368 7,000 1,165 8,165 2,000 25 25 75 00 60 60 00 DAY-BOOK A, SET YI. New York, August 2d, 1852. L.F, 3 4 4 3 3 3 2 1 2 4 4 1 1 2 8 3 2 1 3 2 8 3 3 4 1 4 1 4 Adventure pr. Bark Phillis To Sundries, For Mdse. shipped pr. Bark Phillis, Bingham master, as pr. 0.-I.-B., fol. 1, and consigned to Daniel Starr A Co., Kingston, Jamaica, to be sold for our % and risk, and for Expenses of Shipment To Morton & Godwin, Flour, pr. I.-B. " Otis & Brother, Meal and Com, pr. L-B. " American Mutual Ins. Co., For Ins. on $9,000 @ 3% and Policy Charges,^ Drayage and Labor " Commission, On $8,080 @ 22 ;5 u 31st Cash To Bills Receivable, pr. c.-B., loth 30th tt Sundries Morton & Godwin^ Otis & Brother, Thomas Harvey, S. P. Nixon, Expenses, , To Cash, pr. C-B. 2d u 24th Slst *t ■-- Sept. 22d Sales for %ofJohnGundry& Co. To Charges, Drayage on 500 Bbls. Flour, to be sold for % and risk of J. Gundry A, Co., Cincinnati, Am't pr. Invoice, $1,579.75 30th — Cash To Bills Receivable, €t pr. C.-B., 8th Sales for % of John Gundi7& Co. To Cash, =====^=== Oct. 5th = pr. C.-B.,22d i Adventure pr. Bark Phillis To American Mutual Ins. Co. Ins. on Excess of homeward Cargo from Havana, $6,000 @ l^% 11th Adventure pr. Bark Phillis To Suarez, Brother & Co., For Excess of Expenditures by Suarez, Bro. & Co., Havana, for % of this Adventure, over the proceeds resulting to them from same, as pr. their Ac't-Current, and other Papers, Rec'd pr. Bark Phillis. 15th Bills Receivable To Sales of Sugar, No. 1, J. Fallstaff A Co.'s Note, No. 6, @ 6 mos., for Sugar pr. S.-B. — 18th Bills Receivable To Sales of Sugar, No. 1, Lyman P. Bache's Note, No. 7, @ 6 moa., for Sugar pr. S.-B. 141 4,540 00 3,540 00 271 71 202 25 50 00 1,000 00 2,225 50 8,624 75 3,225 4,M0 3,540 130 50 00 00 00 125!00 95*00 8,43000 15 045 425 75 00 00 9000 6,430 16,455 77 00 I 6,240j00 W DAY-BOOK A, SET VI. New York, October 19/^, 1852. L.F. 4 3 4 o O 4 2 3 4 4 2 4 3 3 2 Sales of Sugar, No. 1 To Sundries, The total sales for this % Am't to 22,695.00 Deduct Duties entered 11th inet, 4,274.29 $18,420.71 To Charges, Cooperage, Storage and Labor *' Interest, On Duties, $4,274.29, for 8 d'a " Commission, On $22,695 % 2^% " Adv. pr. Bark Phillis, Net proceed?, due June 8th, /53 20th — Suarez, Brother & Co. To Bills Payable, Accepted their Bill of Exchange on us, @ 30 days' sight 22d Adventure pr. Bark Phillis To Interest, '< Profit & Loss, To Sundries, As pr. Ac't-Curront, A.-C.-B. fol. 1 Net Gains, pr. Ac't-Current 30th — 55 5 567 17,792 50 70 38 13 699 822 09 52 Sundries Sales of Sugar, No. 1, Adventure pr. Bark Phillis, Charges, Expenses, To Cash, pr. C.-B. 11th 12th 30th 5 3 End of first year. — November 1st, 1852. 5 3 Sales of Pork, Co. A To American Mutual Ins. Co., Ins. on Pork shipped to us by Faxon, Field A Co., Cincinnati, as pr. Advice, $10,000 @ 1^% 5th ■ 18,420 6,430 71 5 4 2 2 Sales of Pork, Co. A To Sundries, Rec'd from Faxon, Field A Co., Cincinnati, 1,000 Bbls. Pork, Am't pr. Invoice $9,256.25, to be sold on joint %. To Faxon, Field & Co., Our i Invoice " Charges, Draynge 6th — Bills Receivable To Sundries, Rec'd of Jeremiah Brown his Note, No. 8, @ 30 days, in Pay't of Pork sold to him, and for Discount. To Sales of Pork, Co. A, 500 Bbls. Pork @ $11. " Discount, On $5,530.42 for 33 days. 8th 4,628 31 Merchandise To Bills Payable, Bo't of Caleb Johnson, on our Note @ 6 mos., No. 8, Molasses, Sugar and Lard, pr. Invoice 15th 12 25 5,500 30 00 42 3 I Sales for % of John Gundry & Co. To Sundries, Rendered J. Gundry A Co. an Ac't-Salea of 500 Bbls. Flour, Total Sales, 2,500.00 Deduct Charges entered 440.75 $2,059.25 Entry continued 1,521 4,274 1,125 94 495 61 29 00 75 00 5,989 04 150 00 4,659 37 5,530 42 15,255 90 II 142 DAY-BOOK A, SET YI. New York, November 15th, 1852. L.F. 3 3 5 5 4 3 3 5 5 4 2 1 3 5 2 2 5 3 5 4 2 2 2 2 5 4 5 5 Sales for % of J. Gundry & Co. To Sundries (continued). To Interest, On $440.75 from Sept 22d " Charges, Storage, Labor, Cooperage, Ac. " Commission, .m... On $2,500 @ 225^ " John Gundry & Co., Net Proceeds, due 12th inst. 15th Sales of Pork, Co. A To Sundries, Rendered Faxon, Field A Co., an Ac't-Sales of 1,000 Bbls. Pork, Total Sales 10,875.00 Deduct Charges entered 1,031.25 do. and Com. as below 465.19 1,496.44 Net Proceeds $9,378.56 To Interest, On Charges to date Charges, Storage, Labor, Cooperage, Ac. 41.50 w' tt rr 3 60 62 1,932 " Commission, Ins. vs. Fire, $10,000 @ 12^ On $10,875 @ 22 fo 150.00 " Faxon, Field & Co., Their i Net Proceeds, due 10th inst i( Sales of Pork, Co. A To Profit & Loss, Our i Net Proceeds $4,689.28 Our i First Cost 4,628.12 therefore we have gained Cash 30th - To Bills Receivable, To Sundries, pr. C.-B. Sales for % of John Gundry & Co., " Sales of Pork, Co. A, " Merchandise, 2d 10th « 16th Sundries Sales of Pork, Co. A, Charges, Faxon, Field & Co., Discount, Bills Payable, i( To Cash, pr. C.-B. 5th 6th u 10th 12th 22d Dec. 31st Cash To Merchandise, pr. C.-B., 6th « Sundries John Gundry & Co., Interest^ 97 25 50 53 191 271 4,689 1,960 5,530 82 50 87 28 Sundries To Cash, Jan. 15th, 1853 pr. C.-B. • 10th To Bills Payable, Our Note, No. 9, @ 6 mos., favor of Douglass, Forest A Co., for two-thirds Invoice of Sugars, Molasses and Rice, to be sold for the joint % of Douglass, Forest A Co., Faxon, Field A Co., and our- selves : — Am't pr. Invoice $12,465.36. Sales of Mdse., Co. B, Our i of Speculation Faxon, Field & Co., Their J " « 143 42 2,059125 5,154 47 14,000 00 6,430 77 4,155 4,155 61 16 7,491 17 2,500!00 5,375 00 6,274 21,640 00 17 850 iOO 226:25 5,000 00 26 73 20,430 12 12 26,533 7,875 1,932 77 75 00 53 9 02 1,941 155 8,31 0;24 i! DAY-l^OOK A, SET VI. New York, January 2\8t, 1853. L.F. 1 Bills Receivable To Sales of Mdse., Co. B, Rec'd of James Maitland A Co. their Note, No. 9, @ 4 mos., for a Lot of Loaf k Crushed White Sugars. Am't pr. S.-B. 31st 2 1 2 4 2 2 2 Cash To Bills Receivable, pr. C.-B.,ioth « Sundiics Discount, Bills Payable, To Cash, pr. C.-B. 10th 12th Feb. 1st Merchandise To Bills Payable, No. 10, @ 6 mos., favor of Baily A Welsh, for CofiToe, pr. Invoice 5th 5 5 2 3 3 3 1 5 Sundries To Sundries, Consigned to Faxon, Field k. Co., Cin'i, an Invoice of CofTee, as pr. O.-I.-B., to be sold for their and our joint %. Faxon, Field & Co., Their i Adv. Adv. to Cincinnati, Co. C, Our \ " ;, To Merchandise, 2000 Sacks CofFe* *- * " American Mutual Ins. Co., Ins. on $9,500 @\*% Dray age. Labor, Weighing, Ae. On $8,548.80 @ 2^^ " Charges, " C<;mmission, 19th 3 5 5 2 2 3 Bills Receivable To Sales of Mdse., Co. B, Note of W. G. Gaylord, No. 10, @ 10 d's, for Rice, as pr. S.-B. 28th Sales of Mdse., Co. B To Sundries, Rendered Faxon, Field A Co. and Douglass, Forest A Co. each an Account-Sales. Am't, as pr. S.-B. 7,688.75 Deduct Charges A Com. as below 496.56 Net Proceeds $7,092.19 Ins. vs. Fire on $6,500 @V% 97.50 Cooperage, Weighing A Labor 19.C2 *' Commission, To Charges, Com. A Guar, on $7,588.75 @ 5% " Faxon, Field & Co., Their i Net Proceeds, due Apr. 27th " Douglass, Forest & Co., " u u tt u u tt Sundries Expenses, Charges, To Cash, pr. C.-B. 28 th 144 4,483 4,483 4,G57 16,455 11 11 268 14,000 14,268 26 00 77 00 77 117 379 2,364 2,364 12 44 06 06 8,548 8,548 142 61 213 80 2,931 80 50 20 72 50 5,224 510 195 705 68 00 00 00 THOMAS HARVEY & CO. DAY-BOOK B. SET YI. 145 ^» DAY-BOOK B, SET VI. New York, March 4th, 1853. 4 2 2 1 1 1 4 2 2 3 3 2 3 3 3 1 o 4 4 2 2 4 1 2 Watson G-. Gaylord To Bills Receivable, Note No. 10 protested at Bank of Commerce 25th Adventure to Canton To Bills Payable, For Note No. 11, @ 6 mos., to the Atlantic Ins. Co., for Ins. on Cargo homeward from Canton, $75,000 @ 1' % and Policy 31st . Cash To James L. Grant, pr* C.-B., lot (( Sundries Watson G. Gaylord, Bills Payable, To Cash, pr. C.-B. 4th 12th Apr. 9th Bills Receivable To Sales of Mdse., Co. B., Rec'd of Leonard Barber A Co. their Note, No. 11, @ 6 mos., for Sugars and Molasses, Am't pr. S.-B i( . — . 3 Sales of Mdse., Co. B To Sundries, Rendered to Faxon, Field A Co. and Douglass, Forest A Co., Account-Sales of Sugars and Molasses, belonging to this Co., Am't pr. S.-B., 6,625.00 Deduct Charges and Com. as below 383.60 Net Proceeds To Charges, $5 141.40 Ins. vs. Fir« on $«,500 @ 1" % Cooperage, Weighing, Labor, Ac. " C'Ommission, Com. A Guar, on $5,525 @ 6 % " Faxon, Field & Co., Their i Net Proceeds, due Oct 26th " Douglass, Forest & Co., " 97.50 9.86 « « , On Bills Rec. No. 8, pr. contra, for 29 days " Bills Payable, No. 1, paid at Phenix Bank " Do. . No. 7, " " Bank of Commerce *^ Balancef ' In Bank o/ Commerce $583.23 " Phenix Bank 1,664.40 « Sa/e 88.40 By John Gundry & Co., " Interest, " Balance, Paid to J. Buchanan, pr. their Order On the above from Nov. 12th In Bank o/ Commerce « Phenix Bank « Sa/e 7,000 1,160 1 8,2 3 26,368 4,540 3,540 130 125 95 1 2,9 9 8 00 00 60 1 5 70 21,428 425 1 3,2 1 8 13,643 4,274 1,125 94 495 7.2 2 9 13,218 850 226 5,000 26 14,000 6,430 2,3 3 6 00 00 00 00 00 65 65 00 6 5 65 29 00 75 00 61 28,869 $6,516.68 1,664.40 88.40 1,932 9 8,2 6 9 10,211 161 I 65 00 25 00 73 00 77 03 78 53 02 4_8 03 .:«« :^ ^A 2 JDr. CASH-BOOK. SET VI. Cash, 1853. Jan. it Feb. Mar. 1 Apr. u il (( l( May ti June 1953. July 1 21 26 It 30 2 9 To Balance, " Bills Eeceivable, To Balance, " James L. Grant, From Feb. 28th Am't invested on entering the Una 9,750 15,00«'00 To Balance, From M«r. Slst " Bills Receivable, No. 7, collected at Phenix Bank " Watson G. Gaylorcl, Rec'd in full for Note No. 10, protested at Bank of -G»m- mcrce on the 4th nit, and charged to his <^— Note $2,931.50, Protest $1.50 " Interest, On $2,933, for 53 days *' Merchandise, Sale to Peter Parker, pr. S.-B. 24,750 To Balance, From Apr. 30th " Ship Massachusetts, Rec'd of John Hollingshead A Co. for Freight from Canton, 250 Tons @ $20 pr. Ton " Bills Beceivable, No. 9, collected at Bank of Commeroe 10,749 6,240 2,933 25 1,945 21,893 21,893 71 21 00 00 91 60 72 72 To Balance, From May Slst To Balance, 152 CASH-BOOK, SET YI. Cask. Or. 1853. Jan. « Feb. u il Mar. u u Apr. May ti tt u June it tt tt tt tt 10 12 31 28 tt tt By Discount, " Bills Payable " Balance^ On Bills Rec. No. 6, pr. contra, for 98 days No. 2, paid at Phenix Bank In Bank of Commerce $6,516.68 " Phenix Bank 3,850.63 " Safe 88.40 By Expenses, " Charges, " Balance, Wages of aerks $110, Rent of Store $400. Paid Laborers & Draymen In Bank of Commerce " Phenix Bank " Safe $5,811.68 3,850.63 88.40 268 14,000 1 0,4 5 5 24,724 12 31 30 9 tt 11 31 12 tt 18 By Watson G. Gaylord, " Bills Payable, ** BalancCf B^ Balance^ Paid Protest of his Note, No. 10 No. 3, paid at Phenix Bank In Bank of Commerce " Phenix Bank " Stife In Bank of Commerce " Phenix Bank " Safe $5,811.68 4,850.63 86.90 $5,811.68 15,536.23 545.81 510 195 9,7 5 t I 00 7_1_ 48 10,455 1 14,000 00 00 71 71 50 00 1 0,7 4 9 2 1 24,750 71 2 1,8 9 3 By Sales of Matting, No. 2, Dnties on Invoice from Canton, $5,712 @ 25 Jg " Ship Massachusetts, Wages of Crew No. 8, paid at Phenix Bank In Bank of Commerce^ $10, 540.93 " Phenix Bank 280.33 *' Safe 237.14 « Bills Payable, " Balance, tt tt On^jg tt 30 tt ft By S. P. Nixon, Thomas Harvey, Adventure to Canton, Bo't of Brown & Co. a Set of Exchange, @ 90 days' sight, on Baring, Brothers A Co., London, and remitted the same to cover Hughes, Miller A Co.'s Drafts from Canton, Jan. lst» @ 6 mos.' sight, due in London Oct 3d, £1,500, and for London Banker's Com. 2 % £30. Total £1,530, @ 8 % Prem. Expenses, Wages of Clerks $265.50, Rent of Store $400 Charges, Paid Draymen A Laborers " Balance, In Bank of Commerce $1,346.93 " Phenix Bank 280.33 " Safe 234.64 tt tt 21,893 1,428 3,808 15,255 11.0 5 8 72 72 31,550 97 500 450 00 67 90 40 00 00 7,344 665 >37 1,8 61 11,058 40 00 50 00 90 u 15S } -<^eC^ THOMAS HARYEY & CO LEGER A. SET VL INDEX. II A. Adventure to Canton . - - - 1 American Mutual Ins. Co. - - - 3 Adventure pr. Bark Phillis - - - 3 Adventure to Cincinnati, Co. C - - 5 Bills Receivable ----- 1 BiUs Payable 2 Cash - - 2 Commission ----- 3 Charges ------ 3 Douglass, Forest & Co. - - - - 5 B. Expenses ------ 2 F. Faxon, Field & Co. - - - - 5 G. Gundry, John & Co. - - - - 5 H. Harvey, Thomas Haines, Hampton & Co. I. Interest - IL 1 2 . 4 Merchandise - Morton & Godwin 2 4 H. Nixon, Salmon P. o. Otis & Brother P. Profit & Loss V .J» a Ship Massachusetts - - - " Sales for^ of John Gundry & Co. Sales of Sugar, No. 1 - - Suarez, Brother & Co. - Sales of Pork, Co. A Sales of Merchandise, Co. B 4 - 1 1 3 4 4 & 5 4 1% 155 V*' k&^ Dr. LEGER A, SET YI. Thomas Harvey. Cr. #^ — / 1852. Aug. Oct. 853. Feb. 31 30 To Cash ^'BaliNet Cap.)toNew% 28 To Bal. to Leger Ej fol. 130 3 6,2 3 4 36,864 00 86 85 3 6,8 2 4 2 1862. July u Oct. 1862. Nov. 1863. Feb. 2 31 30 1 28 By Sundries <' Cash " Profit & Loss u.ooo.oo By Bal. fr. Old % « Profit & Loss Dr. Salmon P. Nixon. •% Cr. 1862. Aug. Oct. 1863. Feb. 31 30 To Cash ''BaUNet Cap.)toNew% 28 To Bal. to Leger B, fol. 125 3 6,2 3 9 36,364 S 6,8 2 9 &■■:• \- 00 84 84 2 1852. July u Oct. 1852. Nov. 1853. Feb. 2 31 30 1 28 By Sundries " Cash " Profit & Loss 85,000.00 By Bal. fr. Old % « Profit & Loss 23,931 11,068 1,364 36,364 36^39 589 25 75 84 84 18 Dr. Ship Massachusetts. Cr. 1852. ^- July li 2 16 31 J ■; To Thomas Harvey *< Bills Pay. « Cash »,oei.86 25,000 1,926 1,165 28,091 00 25 60 85 1852. July 1853. Feb. 31 28 By Cash " Bal. to Leger B, fol 1,800 2 6,2 9 1 28,091 00 85 85 Dr. Bills Beceivable. Cr. 1852. JWy Oct. it 1852. Nov. n 1853. Jan. Feb. 2 (( 15 18 1 6 21 19 To Thomas Harvey " S. P. Nixon « Sales No. 1 n,ou.s5 To BaL fr. Old % " Sundries " Sales Co. B n,T74J9 1,000 9,331 16,455 6,240 33,026 00 25 00 00 1862. July 'Aug. Sept. Oct. 24,655 6,530 4,657 2,931 37,774 31 a 30 2^ •1852 75 Nov. I Jan. 25 Feb. 50 92 30 31 28 By Cash a it « Bal. to New % By Cash M70.S0 (( (( e,Me.iT « Bal. to Leger Bj fol 4,500 00 8,225 50 645 2 4,6 6 5 33,026 25 00 75 7,491 16,455 1 3,8 2 8 17 00 37,77492 Dr. Adventure to Canion. Cr. 1852. /|, July 9 To Sundries 65,656 25 1863. Feb. 28 By Bal. to Leger B, fol. 2 6 6,6 5 6 25 156 LEGEE A, SET VI, .9r. Cash. Or. ^'yU^^. 1852. 1 i^Julj n To Sundries 1 26,368 75 July 31 By Sundries 1 8,165 60 Aug. *i '' Bills Rec. 2 3,225 50 Aug. ii H i( 2 8,430 00 Sept. ^0 a a »,M».l5 2 645 00 Sept. 30 " Sales for J. G.& Co. 2 425 00 Oct. li " Sundries 3 6,989 04 • ^„,y'''^^ 25 ii 1 Q CO (( « Bal. to New %'^'"*' 7,2 2 9 6 1 1852. Nov. 30,239 30,239 25 1 To Bal. fr. Old % 7,229 61 Nov. 30 By Sundries 4 26,533 75 t( 80 " Sundries 4 21,640 17 Dec. 31 U ii 4 1,941 55 Dec. 31 " Md6e. 4 7,875 00 1853. 1853. Jan. it it u 5 14,268 i 4 Jan. it " Bills Kec. 88,i99.w 5 16,455 00 Feb. 28 it ft 4S,4tt.in 5| 706 00 __^^-^^^ a it " Bal. to Leger B, fol. 1 1 9,7 5 71 53,199 78 53,199 78 1 Br. Merchandise. Cr. 1«52. V July ' 1852. Nov. 1853. Feb. it To S. P. Nixon 8 To Bills Pay. t( u \ n.MM.TO 2 8" PnyJU <& Loss {gain) 1 3 5 4 14,000 15,255 8,548 838 24,643 00 90 80 70 40 1852. July 1852. Nov. Dec. 1863. Feb. it 30 31 6 28 By Adv. to Canton By Cash " Sundries ri,mM " Bal. to Leger Bj fol. 4 4 5 2 14,000,00 6,27400 7,875,00 8,648,80 1,9 45 •• 24,^3140 Dr. Bills Payabli J. Cr. 1862. 1852. 1 '^yOct. t/ 30 To Bal. to New % 6 3,4 3 8 2 7 July 9 By Adv. to Canton 1 43,081 25 ^y^ it 16 " Ship Mass. 1 1,926 25 ^^^ Aug. 2 " Amer. Mut. Ins. Co. 1 2,000 00 • ^/^ Oct. 1862. Nov. 20 " Suarez, Bro. & Co. , 5S,438.n 3 6,430 77 f ft>l9 53,438 27 53,438 27 Nov. 30 To Cash 4 20,430 77 1 By Bal. fr. Old % 1 53,438 27 1853. it 8 " Mdse. 8 15^55 90 Jan. 31 it it $4,130.77 5 14,000 00 1853. Feb. 28 « Bal. to Leger By fol. 2 6 1,1 2 2 44 Jan. 15 " Sundries 4 8,310p4 ^^^^.^-^ Feb. 1 " Mdse. K,5SS.n 5 8,548 80 ^^.-^-^^^ 85,553 21 85,553 21 1 1 1 ;■"' Dr. Expenses. Cr. ^1852. July Aug. Oct. 1853 2 31 30 28 To S. P. Nixon " Castf ti . it 1.190.00 To Cash 1 2 8 5 600 95 495 00 00 00 1852. Oct. 1863. Feb. 30 28 By Profit & Loss (loss) By Profit & Loss (loss) 4 4 1,19 00 Feb. 510J00 61000 1 1 1 Dr. Ha ines, Hampti m &Co. Cr. 4» 1862. i. July 31 To Cash 1 7,000 00 1862. July 1 9 By Adv. to Canton 1 7,000 00 _ i " 157 Dr. LEGER A, SET VI. Commissioji. ^v Cr. 1852. ^ Oct. Feb. 30 28 To Profit & Loss (gain) To Profit & Loss (gaiii) 2,3 4 4 927 I 1852. 3 8 July Aug. Oct. 1852. Nov. 1853. Feb. 53 9 2 19 15 u 5 28 By Adv. to Canton " Adv. pr. Phillis " Sales No. 1 ymM By Sales for J. G.& Co. " Sales Co. A " Sundries " Sales Co. B VttM 4 5 5 1,575 202 567 62 271 213 379 00 00 38 50 87 72 44 Dr. Charges, / 1862. XOct. 30 1852. Nov. 1853. Feb. u 30 28 To Cash " Profits Loss (gain) 94 48 142 To Cast « Profit & Loss (gain) 75 75 226 195 40 25 00 07 461 1852. Aug. Sept. Oct. 1852. Nov. ii it 1853. Feb. ii 2 22 19 32 5 15 5 28 By' Adv. pr. Phillis " Sales for J. G.& Co. " Sales No. 1 liS.TS By Sales Co. A " Sales for J. G.& Co. " Sales Co. A " Sundries " S^es Co. B 71 15 55 «ii.a 142 31 60 191 01 117 46; 50 75 50 To 2o 25 50 20 12 82 Dr. American Mutual Inmrance Co, Cr, 1862. Aug. 1852. Nov. To Bills Pay. To Bal. fr. Old* % 2,000 1,638 00 75 1852. Aug. Oct. Ii 1862. Nov. !l853. Feb. 2 5 30 By Adv. pr. Phillis a ii " Bal. to New % 9C1.1& 5 28 By Sales Co. A " Sundries rn.w " Bal. to Leger B, fol 150 00 142;50 1,34«2 5 Dr. Adventure pr. Bark Phillis. ^^ 1852. ' Aug. Oct. ii it a 5 11 22 30 To Sundries « Amer. Mut. Ins. Co. " Suarez, Bro. '& Co. " Sundries << Cash i7.7w.is 2 2 2 3 3 8,624175 9o;oo 6,430 77 1,521 61 1,12500 1862. Oct. 17,792 13 19 By Sales No. 1 Cr^ 17,792:13 Dr. Sales for Account of John Gnndry & Co. 17,792il3 Cr. LEGER A, SET VI, Dr. Sales of Sugar, No. 1. Cr. ^^ 1862. ^Oct. 19 30 To Sundries " Cash „,««.«) • 3 3 18,420 4,274 71 29 1852. Oct. ii 15 18 ByBUlsRec. a a 22,695.00 2 2 t 16,455100 6,24000 22,695 00 22,695j00 Dr. Interest. Cr. ^^ 1862. ^ Oct. 1852. Nov. Dec. 1853. Jan. 30 30 31 31 To Profit Cr. 1853. Mar. I Apr: May 2853. July 31 30 31 To Bal. fr. Leger A, fol. « Jas. L. Grant " Sundries li li i5^3.47 To Bal. fr. Old % 1863. 2 9,750 71 Mar. 31 1 15,000 00 May u 1 11,144 51 June 30 2 9,657 25 47 90 (( 11 45,552 1861 By Sundries II a it tt " Bal to New % 43,690.57 14,001i50 20,492157 9,19650 1,861|90 45,552147 Dr. Ship Massachusetts. Cr. 1853. Mar. May 1 6 " 31 June30 a 1853. July ii To Bal. fr. Leger A, fol " Adv. to Canton « Cash " Interest 83,«m.o4 " Profit (So Loss {gain) To Bal. fr. Old % 26,29185 2,069 68 3,80867 1,481 184 2,39796 36,000 00 1853. May II June 22,50000 9 31 30 By Sundries Lash 18,500.00 Bal. {Tnv't.) to New % (t 8,500,00 5,000'00 22,500'00 36,000.00 162 y" Dr. LEGER B, SET YI. Bills Receivahle. 2 Cr. 1853. Mar. Apr. May June 1853. July 1 9 18 10 To Bal. fr. Leger A, fol. " Sales Co. B " Sales No. 3 Sales No. 2 li m^7.38 To Bal. fr. Old % 1 1 2 2 13,82875 5,525!00 93,293:63 8,400!00 121,047 107,218 38 63 1853. Mar. Apr. May June 4 30 31 30 By W. G. Gaylord " Cash it li " Bal. to New % 13,828.75 2,931'50 6.240 00 4,657,25 1 7,2 1 8 6 3 121,047 38 Dr. Merchandise. 1853. Mar. To Bal. fr. Leger A, fol. f^! Dr. Adventure to Canton. Cr. 1853. Mar. it June ti 1 25 20 30 To Bal. fr. Leger A, fol. " Bills Pay. " Sundries " Cash •0,08<.77 1 1 2 8 65,656 1,163 15,950 7,344 90,084 25 75 77 00 77 1853. May II June a 6 II 1 15 By Sundries " Ship Mass. " Sales No. 3 " Sales No. 2 90,084.77 1,682 36 2,069 6« 82,349 95 3,982 78 90,084 77 •/r. /^Dr. Bills Payable. Cr. 1853. Mar. May June 31 II 30 To Cash II II " Bal.toNcw% t9.255.90 14,000 15,255 23,000 52,256 00 90 29 19 1853. Mar. li 1853. July 1 25 By Bal. fr. Leger A, fol. " Adv. to Canton 52,236.19 By Bal. fr. Old % j 51,122 44 1,13375 52,25619 i 23,000 29 ' I ^ Dr. American Mutual Insurance Co. Cr. 1863. Mar. To Bkl. fr. Leger A, fol. 1,346 25 Dr. Faxon, Field & Co. Cr. 1853. IMar. June 1863. July 1 11 To Bal. fr. Leger A, fol. " Adv. Co. C 6,668.13 To Bal. fr. Old % 5 2 1,956 4,711 6,668 4,954 77 36 13 33 1863. Apr. June 9 3 By Sales Co. B " Bal. to New % 1,713 80 4,954.32 6,668;13 -ir 168 t ^ Dr. LEGER B, SET VI. Sales of Merchandise, Co. B. Cr. 1853. Mar. Apr. 1 9 — To Bal. fr. Leger A, fol. " Sundries &.»1.4S 1,880 3,811 5,691 25 20 45 1853. Apr. it By Bills Rec. ** Profit & Loss »,<»1.4a 5,525 160 5,691 00 45 45 Dr. Adventure to Cincinnati, Co, C Cr. 1853. Mar. June 1 30 To Bal. fr. Leger A, fol. " Profit & Loss {gain) 4,483 228 LI 26 1853. June 11 By Faxon, Field & Co. 4,711 36 J Dr. Dovglass, Forest & Co. Cr. 1853. June 30 To Bal. to New % 4,077 1853. 8 6 Mar. Apr. 1853. July 1 9 By Bal. fr. Leger A, fol. *' Sales Co. B ^^^ By Bal. fr. Old % . 2,364 06 1,713 80 4,077 86 J Dr. Charges. Cr. 1853. June u 30 To Cash " Profii db Loss ((/ain) ii 237 171 00 3 6 1853. Apr. June n 9 1 15 By Sales. Co. B *' Sales No. 3 << Sales No. 2 107135 256|00 4500 I 408*35 ,/ Dr. Commission. Cr. \ 1853. June 30 To Profit & Loss (gain) 5,380 5,360 93 93 1853. Apr. June 9 1 15 By Sales Co. B " Sales No. 3 " Sales No. 2 ft,MOJI 27^:5 ;,o64 68 420 00 5,360 93 Dr. Profit & Loss. 1853. Apr. June ii c 9 30 ii u il To Sales Co. B *< Expenses ' < T. Harvey y | net gains << S.PNixm/i " " JL.Grantyi'' ii 166 065 9,171 9,171 4,686 23,760 45 50 24 24 62 05 1853. June ii it it a ii 20 30 (( (( li ii By Adv. to Canton Ship Mass. Adv. Co. C Charges Commission Interest r 164 » Dr. LEGER B, SET VI. Interest. •^1853. May June 6 30 To Adv. to Canton " Sundries ^^^^ " Profit & Loss {gain) Cr. By Cash " Sales No. 3 " Sales No. 2 " Adv. to Canton " Ship Mass. Dr. 1853. Mar. 4 « 31 Watson G. Gayhrd. To Bills Rec. " Cash 3,«S.OO 2,931 1 50 50 1853. Apr. 30 By Cash t^ Dr. Hughes, Miller & Co. 1853. May 6 To Adv. to Canton i^ Dr. 1853. May ii June 9 31 15 Saks of Matting, No. 2. To Ship Mass. " Cash " Sundries Dr. 1853. May June Sales of Tea, No. 3. "f . To Ship Mass. " Sundries n,»3.6S 6,000 87,293 1853 00|j May 63 18 By Bills Rec. Dr. • 1863. June Expenses. 30 To Cash 665 50 1853. June 3 5,671.18 2591 23 00 24 22 4,16721 1,43184 Cr. 2,933 00 Cr. 93,293 63 Cr. By Profit & Loss (loss) 165 666 50 INVENTORY-BOOK, SET VI. Property remaining unsold February 28tli, 1853 : Merchandise. 100 Hhds. Cuba Molasses, 10,240 Gals. @ 19 ^ Merchandise J Co. B, 74 Hbds. Muscovado Sugar, 88,066 Ibs^ 4'^ 75 Hhds. N. O. Molasses, 7,879 Gals. @ 18 /? Our one-third of which is Adv. to Cincinnatij Co. C, Our one-half of luToice of February 5th - . 4,183.14 1,457.6 1 $5,640.75 Property remaining unsold June 30th, 1853 Ship Massachusetts valued at TRIAL BALANCE, LEGER A, SET YL Oct. SOth, 1852. Dr. v^r. L.¥. 1 1 1 1 1 2 2 2 3 3 3 3 4 4 Thomas Harvey - - - - Salmon P. Nixon - - - Ship Massachusetts - - . * Bills Receivable Adventure to Canton - - - Cash - - " " ' Bills Payable - - Expenses ---•:■ Commission - - - - " Charges - - - ' ^ ' American Mutual Insurance Co. Sales for % of John Gundry & Co. Interest - - - - - Profit & Loss - - - - 127,102 90 127,10i:i06 i TRIAL BALANCE, LEGER A, SET VI. Feb. 2Sth, 1853. Dr. Cr. L.P. 1 1 1 1 I 2 Thomas Harvey - Salmon P. Nixon Shi^ Massachusetts Bills Receivable Adventure to Canton Cash Merchandise Am'ts carried forward 1 1 26,291 85 ►13,828i75; 65,65025' 9,750|711 901 36,234 85 36,23984 t 1,106 116,634 40: |_72,474 <39 ii r 166 L.F. 2 2 3 3 3 4 4 5 5 5 5 TRIAL BALANCE {continued). ■ Ill ■■—»■■ ■ ■ 11 11 ^_- - ..^. ■■■■■ ■ ,. - _ ■! ^. , Am'tfi Bro't forward Bills Payable Expenses ...... Commission ........ Charges - - - - .'. American Mutual Insurance Co. ..... Interest - - - - .. Profit & Loss ........ Faxon, Field &Co. - Sales of Merchandise, Co. B ..... Adventure to Cincinnati, Co. C - Douglass, Forest & Co. - - * - 116,634 f 610 1,346 268 1,956 1,791 4,483 46 00 25 31 77 05 11 126,989j95 72,474 51,122 927 40 61 2,364 69 44 53 07 16 06 126,989 95 TRIAL BALANCE, LEGER B, SET VL March let, 1853. Dr. Cr. L.F. 1 1 1 1 2 2 2 2 2 2 3 3 3 Thomas Harvey ■ Salmon P. Nixon Cash - Ship Massachusetts - Bills Receivable . - - Merchandise - - - - Adventure to Canton - Bills Payable - - - - American Mutual Insurance Co. Faxon, Field & Co. - Sales of Merchandise, Co. B Adventure to Cincinnati, Co. C Douglass, Forest & Co. 9,750 71 26,29185 13,82875 1,94560 65,656 25 1,346 25 l,956i77 1,880 4,483 127,139 25 11 54 36,824 02 36,829 02 51,122 44 2,364 00 li' 12 7,139j&4 I TRIAL BALANCE, LEGER B, SET VI. June 30eA, 1853. Dr. .^ ^ ■•-M / AUXILIARY BOOKS FOR SET VI. t , BANK-BOOK. CHECK-BOOK. BILL-BOOK. INVOICE-BOOK. SALES-BOOK. OUTWARD-INVOICE-BOOK. ACCOUNT-SALES-BOOK. ACCOUNT-CURRENT-BOOK- LETTER-BOOK. w 169 i ^^' BANK-BOOK AND CHECK-BOOK. BANK-BOOK. This is a small memorandum book given by Banks to individuals who deposit funds with them. The deposits made in Bank are entered in it by the receiving clerk, at the time of deposit ; and about once a month a clerk of the Bank enters the amounts that have been checked out, and balances the book. This is called writing up and balancing. Notes and Drafts lodged with the Bank for collection are noted inside the money column, but not extended. When collected they form a deposit in Bank, and are extended ; but if protested for non-payment, a stroke of the pen is made through the figures, and they are not extended. If the Note or Draft does not fall due be- fore the time of writing up and balancing, instead of an extension a new entry must be made when collected. No Bank-Book is given with Set VI, since the form is so simple as not to require it. CHECK-BOOK. This is a printed book of blank checks, with a broad margin, in which is noted deposits made in Bank. When- ever it is wished to draw out funds from the Bank, one of these blank checks is filled and torn off, and a me- morandum of it also made in the margin. By adding all sums deposited, and subtracting all sums withdrawn or checked out, the amount remaining in Bank is always readily seen, and must agree with the balance of the Bank-Book when that book is writ- ten up and balanced. Notes and Drafts deposited for collection are entered in this book when they are collected. Some make a memorandum of them at the time of deposit, but this is unnecessary, as the Bank-Book is the voucher for their having been left with the Bank, and they do not form a real deposit upon which to draw until they are collected. Houses doing business with more than one Bank have a separate Check-Book for each. In Set VI, the Firm has dealings with the Phenix Bank and the Bank of Commerce ; but I have given a portion only of the Check-Book of one of these Banks, this being sufficient to show the form. It will be a good exercise for you to fill up the remainder of this book, and also to make out a Check-Book for the Bank of Commerce from the history of the business. Non.— The portion of thl» page occupied with the «pl«»»«<«» ?^.*^*,?*°k '^f^ and Check-Bo6k constitutei properly a part of the Check-Book, being the back or blank side of the checks. When the checks are torn oO, nothing remains in Uilf iook but the inner marginal memorandums. 170 Phenix 1862. eejv.45r.^(?<.vu ^ ^i»^l^i^i^*^>^ m M. i. NewYorh, SJj^ -IStfv, 1852. Pay to Sot^^l dSd^ *§ S8-u»tA^s or Bearer, «/wv tTv&iMvaied , ^ Dollars, ^00 Dolls. ^ cts. S^Aonia^ atpaivey q" i^o. \ ]s[o, 2. Nevo York, Qiloii^i^ 2d, 1852 Pai/ to viD^ito»v *§ <^^u>liv, or Bearer, 2Foav SrU^vd 2F;.,c ?l,5Jk^0 Dolh. wT c/s. Unoma4 <^atveu ^ ^c. No. h. Date. Get. \\yk, 1852. Favor of gN'o. j^, No. Pay to New York,. 18. I?H[IEia2^ ©SiElIS .. or Bearer, 100 Dollars. Dolh. cts. ,^0^t0^^^0t0^0*0*^»^t^>^>^*^>^t^^^^t^^ j^j~ i .r > n ■i ri i f^<~ i r~' i '- — ■ ^ ^-^ ^,27-^ 29 No. 5. Date. Oct. i2tL, 1852. Favor of »i(?ofri>teV, £Potv ^ ^0., and CDcmu/iViW'. <,<25 No.— New York,. .18— !?HII!i3a21 mi^mjK, Pay to _ or Bearer, , "ioo Dollars. Dolls, cts. New York, 00 5^ m Pay to — or Bearer, . "ioo Dollars „- J / Dolls, cts. ^'VVWWW^^^^^^^^*^^^^^^^^^^^^^^^^^*^^' 171 BILL-BOOK. SET VI. Bilk i When BeodTed. In whow &Tor. For what receired. Where payable. ■ t 1 Date of , Motf. , 1862. 1862. 1 1 July 2 Bagley & Thompson Thomas HarTey For ^ of T. Harrey Phenix Bank May 7 : 2 «( (t Wm. Longfellow Salmon P. Nixon " "8. P. Nixon New York May 18« 8 <( n Jonas SaTage & Co. «< (t «i (« «( Bank of Com. Apr. 27. 4 It (( Ezra Coe & Co. u It (t (( «< «( (t Mar. 6 . 5 « mos. 4 12 2,931150 5,52500 Apr. 6 mos. 21 14,25625 Endors'd to our order byMy ers &WoIbert. 6 mos. 21 29,434 33 (( *« (* 6 raos. 21 35,620 20 (( «« (( C mos. 21 13,982 85 (( M (« 4 mos. 1 18 8,400,00 1 1 1 ■ Payable. Date of Note. Time to run. When due. Amount When paid. Remarks and Endoraementa. 1852. 1862. July 9 4 mos. Nov. 1853. 9/12 14,000 00 Nov. 12 tt tt C mos. Jan. 9/12 14,000 00 Jan. 12 tt tt 8 mos. Mar. 912 14,000 00 Mar. 12 it tt 12 mos. July 9/12 1,081 125 t( 16 12 mos. July 16/19 l,926i25 - Aug. 2 12 mos. Aug. 1852. 26 2,000 00 Oct. 20 SOd's Nov. 1853. 19/22 6,430 77 Nov. 22 Nov. 8 6 mos. May 8/11 15,256 90 May 11 1853. Jan. 15 6 mos. July 15/18 8,310 24 Feb. 1 6 mos. Aug. 1/4 8,548 80 Mar. 25 6 mos. Sep. 25/'28 1,133 75 may also be inserted in Bills Receivable, if desired. The column, "When due," will be found convenient for a small business, as seen in the latter form ; but where many Notes are received and issued, ^e former will be preferable, as by it can be more readily seen what Notes fall due on a certain month or day. N. B. Notee bHiag due on Sunday must b« paid on the Saturday preceding. 173 INVOICE-BOOK, SET VI. Messrs, Thomas Harvey ^ Co, To Salmon P. Nixon Dr. To 100 Casks Ginseng, 48.120 lbs., gross, 8,120 " taie, "io^bo ♦* net, 35* New York, July 2d, 1862. $14,000,00 Messrs, Thmnas Harvey jf Co. Bdt of A, A. Lawrence tf Co, «. T. C. #1 to500 600 Bales Drills, ea. 40 Pieces, ea. 30 Yds. = (H)0,000 Yds., @ If Delivered on Ship Massachusetts free of charge. Eeceived in payment their Notes, @ 4, 6, & 8 mos. A. A. Lawbsnck 5 Co. New ForAr, July 9iA, 1862. $42,000 00 Messrs, Thomas Harvey ^ Co, Bot of Haines, Hampton ^ Co, fi. T. C. 2,000 Pigs Lead, 140,000 lbs., % 50 Delivered on Ship Massachusetts free of charge. Received payment. New York, July 9 <5> ^ ^ Sold Stiles & Nesmith, Cash, 125 Hhds. Sugar, 157,500 Its., @ 5^ Jan. 21st, 1853 Sold James Maitland & Co., Note @ 4 mos., 25,909 lbs., Loaf Sugar— Sales of Mdse.,Co. B— @ 9/ 29,068 " Crushed «♦ — " " " — " 8 Feb. 19th I 2,331 81 «. T. # 6 Sold Watson G. Gaylord, Note © 10 d's, 60 Tierces Rice— Sales of Mdse.,Co. B— 90,200 lbs., @ 3'/ April 9th Sold Leonard Barber & Co., Note @ c mos., 74 Hhds.Mus'do Sugar— Sales Md8e.,Co.B-87,943nbs.@4f;^ 76 " N. 0. Molasses, " " " 7,879 Gals. ♦♦ 182 30th Sold Peter Parker, Check, 100 Hhds. Cuba Molasses, 10,240 Gals., ©19/ ^ — June 10th 2,32544! 4,657 6,274 7,875 00 00 4,067 39 1,457 61 Sold Fithian & Morris, Note @ 4 mos., 1,000 Rolls */^ White Matting— Sales of Matting, No. 2— 40,000 Yds., ©21/ 25 2,93l'50 5,525i00 1,945;60 8,400j00 This book is used for recording, in detail, all sales. . . n , -o i In houses doing a mixed business, the Sales-Book and Commission-Sales-Book can, with equal propriety, be kept together or separate, as convenience may dictate. Ihey are here blended in one. •• i x • i In actual business, the sale is first recorded here, and subsequently the entry is mndc from this book to the Day-Book. 175 ,:^^* jLM.'AlMA'i^ . 1) i I' - 1 OUTWARD-INYOICE-BOOK, SET VL Invoice of Merchandise, shipped hj Thomas Harverj ^ Co.,pr. Ship Massachu^^ setts, Captain Fillmore, for Canton, and consigned to Hughes, Miller ^ Co,y to b€ sold for account and risk of Skippers. C. T. C. #lto500 4t501to600 600 Bales DriUs, ea. 40 Pieces, ea. 80 Yds. «» 600,000 Yds., ® If 100 Casks Ginseng, 48,120 lbs., gross, 8,120 «« tare, 40,000 " net, @ 85/ 2,000 Pigs Lead, 140,000 lbs., @ bf Charge%. Ins. on $72,000, @ 1'^, and policy Com. on $63,000, @ 2*^ Jf«p Yorlc, JWy 9rA, 1862. 1,081.26 1,676.00 42,000 00 E. E. Thomas Habtit & Co. 14,00000 7,00000 2,666 % 66,666 25^ 26 Invoice of Merchandise, shipped by Thomas Harvey # Co., pr. Bark Phillis, Bingham master, and consigned to Daniel Starr ^ Co., Kingston, Jamaica; bales and returns for account of Shippers. <0> D. 1,000 Bbls. Flour, @ $4,50 ^^ Inspection 1/, Lining Zf pr. BbL 1,000 Bbls. Com Meal, @ $3 Inspection 1/, Lining 3/ pr. BbL 400 Bags Com, (ea. 2 Bushels,) $1.26 Com. on $8,080, @ 2^% Porterage & Labor Ins. on $9,000, for the Toyage, @t% Policy New York, Aug. 2d, 1862. 4,500.00 40.00 8,000.00 40.00 202.00 71.60 270.00 1.26 E. E. Thoxas Haktst & Co. Invme of Merchandise, shipped pr. D. Leech & Co.'s line, via Pennsylvania, and consigned to Faxon, Field » Co., Cineinnati, to he sold for jomt account oj Shippers and Consignees. ^ [WA] 2,000 Sacks CoflFee, 131,620 lbs., @ 6»/ Charges. Ins. on $9,500, 1«^ Drayage, Labor, Weighing, Mending Bags, &c. Com. on $8,648.80, 2»^ B. E. New York, Feb. 6rt, 1868. 8,648 80 142.60 61.20 218.72 417 42 $8,966 22 Thomas Habtbt & Co. In the Outward-Invoice-Book, copies are taken of Invoices shipped abroad, or con siffned to others to be sold for your account. ^ 176 ACCOUNT-SALES-BOOK, SET VI. Sales of Sugar {No. V},for account of Adventure pr. Bark Phillis. p. B. #1 to 300 P. D. #001to600 P. C. #30ito500 1862. Oct 15th. Sold J. Fallstaflf & Co., 6 mos., 300 Boxes Sugar, ea. 480 lbs., 6'^ 100 Hhds. «« " 1,420 '* " 5' Oct. 18th. Sold Lyman F. Bache, 6 mos., 200 Boxes Sugar, ea. 480 lbs., C-/* Charges. Duties paid Oct. 11th Int. on $4,274.29 for 8 days Cooperage, Stor. & Lab. Com. on $22,695, 2=% E. E. New York, Oct. 19fA, 1852. 9.000.00 7,455.00 4,274.29 6.70 55.50 567.38 Net Proceeds due June 8th /53 Thomas Hakvkt k Co. Account-Sales of Fhur, received, pr. D. Leech rf* Co.'s line, from Cincinnati, for account and risk of J. Gundry ^ Co. 1862. Nov. 10 By II. S. Pierson & Co., ■. 600 Bbls. Flour, $6 * Charges. To Freight & Drayage 440.75 " Int. on $440.75, from Sept. 22d 3.97 " Stor., Lab., Cooperage, &c. 50.25 « Com. on $2,500, 2^% 62.5(0 E. E. Net Proceeds due Not. 12th New York, Nov. Ibth, 1862. Thomas Habtet & Co. 2,500 00 567 4 $1,932 5S Wlien goods received on commission are sold, the agent makes out, for the inspec- tion of the consignor, a detailed account of the sales of said goods, together with such charges as have been made on account of the same. In making out an Account-Sales, the mode of procedure is, to turn to the proper account in the Leger, and from thence refer to the necessary details, as found in the books of original entry. For the details of the sale, reference must be had to the Sales-Book ; the charges, commission, kc. Will be found in the Day-Book. A variety of forms are here given, of which the first and last are the most common iu business. Thinking it unnecessary to occupy space with them, I hare omitte-l X ITT r ACCOUNT-SALES-BOOK, SET VL Faxon, Field ^ Co. and Thomas Harvey i Co,, 2>;.. In Account-Sales mtk Thomas Harvey ^ Co. Or. 1852. Not. tt n (I tt tt tt tt tt 1 6 (( 15 II «{ tt t* tt To Ina. on |10,000, V^ ♦* Freight «« Dray age " Int. on Charges to date " Stor., Lab., Cooperage, &c. " Ins. vs. Fire, on $10,000, ** Com. on $10,875, @ 2«% " Faxon, Field & Co.'s J Net Proceeds, due 10th inst. " Thos. Harvey & Co.'s J Net Proceeds, due 10th inst 6 By J. Brown, TH 500 Bbls. Pork, @ $11 *« H. S. Pier son & Co., TH 500Bbls.Pork,@$10.76 E. E. New York, Nov. 15 29,068 " Crushed '* " 8 Sold Watson Q. Gaylord, @ 10 days, * 50 Tierces Rice, 90,200 lbs., @ 3'/ Charges, Ins. vs. Fire on $6,500, (J Am't Ins.,) @ \*% Cooperage, Weigh., & Lab. Com. & Guar, on $7,588.75, @ b% 2,331.81 2,325.4-1 97.50 19.62 379.44 Faxon, Field & Co.'s I net proceeds Douglass, Forest & Co.'s J Thomas Harvey & Co.'s \ E. E. New York, Feb. 28 _^ cS -3 '^ ® fl a - %. 2 an «> ® 5 * « u - ,2 CO rs •* S '^ r 5 ^ ^. " *- 4) 00 fc 2 M =• P c** 55 fc, af ♦» p^ H» «S 2 fl » 2.°° 2 ^- fl ^t 5 •< r-> t-. , CB _ • - - a oQ t- -*» OO 6 ■0 o a a 1 ?- o.-r -"3 a 2 S « o.S W . O 9 =3 ► • pN QQ «^ ^ O a 00 E-i T3 O Ms o « "^ S o o -, ® o .-. ^ >> ^/^^-^ s fl © s -^ O 08 *» 'is ^ © fe -^ tf s o © p o p ® *r '►.'^ p « go P CD © © O} O © — -rs^ o w 2 ' 5 ^ •«J tirf © P ♦* 'O 9> « «9 Sis O «M P . -<^-:: . /r» © iS "•-• 2 S P CO ^ P © © C^ Q> ^ M 09 d © ^e.s LETTER-BOOK, SET VI. ^ r » ^ \ ^ -^^"^ ^^'•^'> September 22nd, 1852. Messrs, John Gundry ^ Co,, Cincinnati: t. n > V *:aa t>vt t., . Gentlemen,— We have this day received, pr. D. Leech « Lo. 8 line, 500 Bbls. Flonr, m good order, consigned to us to be sold for your ^ and nsk, as pr. your Invoice of the 13th inst. As prices are rising, we think it advisable not to push it upon the market at pre- sent, but shall endeavor to seize the most favorable opportunity for effecting sales to advantage. Very respectfully, • Your ob't servants, •* ' ' Thomas Harvey & Co. Gentlemen, New York, February ^th, l^^Z, . u ij ^^^ reply to our proposition to unite in a Company speculation of Mdse., to be sold at Cincinnati, came to hand on the 1st inst., and in accordance therewith, we have this day shipped 2,000 Sacks Coffee, as pr. Invoice enclosed, and consicnied them to you to be sold for your and our %, jointly. One-half of the Invoice we have charged to your %, m accordance with the terms of our agreement.— Am't $4 483 11 A portion of the Sugars consigned to us for joint % of yourselves, Douglass', Forest & to., and ourselves, have been advantageously sold, and there is prospect of another sale soon* Hoping this new adventure may prove for our mutual benefit, We remain, gentlemen, -^ _ ^ Very respectfully, yours, Messrs, Faxon, Field ^ Co., Thomas Harvey & Co. Cincinnati, This book is used for taking copies of all business letters of importance, written to others Letters received are usually filed away. A business letter should be written m brief terms and yet explicitly. To be well skilled in mercantile correspondence is no small acquirement. ^ y^^^y^^ « 181 i ! Ml.^- £> i ADDITIONAL AUXILIARIES. In addition to the auxiliary books already given, there are several others of less import- ance, but still convenient in some branches of business ; among which are the following— Order-Book, for taking copies of all orders received for merchandise. Memorandum-Book, for noting down mercantile atTairs of importance, that have occurred or are likely to occur. Expense-Book, for keeping an account in detail of those smaller expenses which are constantly occurring about an establishment. . Postage-Book, for keeping an account of postages paid. TiME-BooK, for keeping the time of hands employed. See Form below. FORM OF TIME-BOOK. Ann Robins Mary J. Linn Anne Bowen Bet.S.Collins Susan Holt Phebe Martin Good h'd. Sick. Good h'd. Slow Manufacturers generally make use of this book. When hands are employed by the month, the columns for days may be increased in number to twenty-six, the number of working days in a month. 182 LEGER ACCOUNTS. {Continued from Page 120) Sales Accounts^ or Consigfiment Accounts. ' These accounts show the charges on goods consigned to you to be sold for others, and the total sales or proceeds of the same. The debtor exhibits all charges against them, the creditor all sales of goods con signed, and the difference the net proceeds due the consignors. An account of this kind is closed by a Day-Book entry, debiting it and crediting the consignor with the amount of net proceeds. Or if payment be made immediately, the account which furnishes the means of payment may be credited instead of the consignor. Merchandise in Co.^ and other Co. Speculating Accounts. These accounts are kept to ascertain what you make or lose in each Co. Speculation of which you have the management ; also the amount of net proceeds due each indi- vidual of the Co. The debit side contains all that the Co. costs you, viz. : the amount of your invest- ment, the charges and expenses paid by you, your commission for selling, and the amount of net proceeds due the other individuals of the Co. The credit side contains all that the Co. produces you, viz. : the total proceeds of Co. goods sold, and, at closing, your portion of the balance unsold, if any. The difference will be your gain or loss on the Co., which is usually carried to the Profit & Loss account by a Day-Book entry, although it may be transferred upon the Leger. Adventure^ or Shipment Accounts. The debit side of an account of this kind shows the cost of goods consigned by you to another, to be sold for you. The credit side shows the net proceeds of sales as rendered by the party abroad, or the net proceeds of sales, by you, of goods received in return for those sent abroad. The difference will be a gain or loss, which is carried to the Profit k Loss account, usually by a Day-Book entry. There are frequently other items of debit and credit, especially in foreign adven- tures, but the general rule of debiting what costs you value and crediting what producer you value, will enable you always to make the correct entries. Adventure in Co., or Shipment in Co. The debit side is to show what the adventure costs you, or your share of the Invoice of goods consigned ; and the credit side the amount it produces you, or your share of the net proceeds of sales, as rendered by the party abroad. The difference is always a gain or loss, and is closed into Profit & Loss, usually by a Day-Book entry. If all the Ac't-Sales have not been received at the time of closing, the account may be credited "By Balance," for the amount remaining unsold. 183 ll ^'t_ _ .^_. Kj?^ QUESTIONS FOR REVIEW, SET VI. What kind of business is represented in Set VI ? How many years* business, and with how many partners for each year ? Explain the object and treatment of a Cash-Book, as used with Sets I to V inclusive. What other and still more important oflSce has it, as used with Set VI ? How often should it be balanced ? In making out account-sales and account-currents, and in settling accounts with indiNdduals, whaf must be done with the Cash-Book ? Why are the accounts of Ship Massachusetts and Adventure to Canton left open in closing Leger A? Explain how to transfer accounts from one Leger to another. What test of the new Leger should be taken immediately after opening all the accounts in it ? In this Set what are the proper entries to be made by the firm, in both Day-Book and Cash> Book, for each of the following transactions — and why ? » 1st, Shipment of a cargo to Canton, pr. Ship Massachusetts, part of which was bought on their notes, part for cash, and part furnished from store; their note being also given for insurance, and they charging a commission for doing the business. — ^2d, Giving their note to an Insurance Co. for marine insurance on open policy. — 3d, Purchase of a cargo for cash, and shipment of same pr. Bark Phillis, to the West Indies, to be sold for their account ; insurance being effected on open policy, and a charge being made for drayage, labor and commission. — 4th, Receipt of flour' on consignment, to be sold for account of another person, and payment of freight thereon in cash ; the drayage being performed by their drays. — 5th, Insurance, on open policy, upon homeward cargo of Bark Phillis from the West Indies. — 6th, Receipt of statements in detail of proceeds and expenditures on account of Adventure pr. Bark Phillis, by which it appears there is a balance owing by the firm to the commission merchants at Havana. — 7th, Payment of duties on invoice of sugar received pr. Bark Phillis. — 8th, Payment of charter money and demurrage on voyage of Bark Phillis. — ^9th, Sale of sugar received pr. Phillis, for another person's note. — 10th, Closure of the Sales-account of sugar received pr. Bark Phillis, debiting it with the proper charges, and transferring the net proceeds to the Ad- venture account. — 11th, Debit excess of interest on the Adventure account, and net gains as shown by the account-current. — 12th, Effecting insurance on open policy on pork to be sold for joint account of firm and another person. — 13th, Receipt of pork from a person abroad, fur- nished by that person to be sold on his and their joint account, and payment of freight on same in cash— drayage done by their drays. — 14th, Sale, for a person's note, of pork received to be sold on joint account. — 15th, Sale, for cash, of flour received to be sold for account of another person. — 16th, Closure of the Sales account of flour sold for another person, and transfer of the net proceeds to his account. — 17th, Debiting the Sales account of pork sold on joint account with the proper charges, and transfer of a share of the net proceeds to account of the person interested with the firm in the company speculation.— 18th, Entry of gains accruing on the joint pork speculation. — 19th, Shipment of coffee to another person, to be sold by him on his and their joint account, with insurance on open policy, charges and commission thereon. — 20th, Protest of another person's note at bank. — ^21st, Payment by another of his note which has been protested, with interest.— 22d, Receipt of statements of voyage to Canton,, showing a balance against the commission merchants there, 5 % discount being required to convert United States currency into Canton funds. — ^23d, Receipt (k statements showing that a portion of the proceeds of Adventure to Canton were appropriated to the payment of expenses of Ship Massa- chusetts at Canton. — 24th, Closure of Sales of Tea, No. 3. — ^25th, Receipt of an account-sales for a joint adventure abroad. — ^26th, Closure of Sales of Matting, No. 2. — ^27th, Purchase for cash of a set of exchange, and remittance of same to cover drafts from Canton on account of the voyage. — ^28th, Closure of Adventure to Canton, by entry of debit balance of interest, and the net gains. Describe the form and use of the Bank-Book ; — Check-Book ; — ^Bill-Book ; — Invoice-Book ; — • Sales-Book ;-— Outward-Invoice-Book ; — Ac't-Sales-Book ; — ^Ac't-Current-Book ; — Letter-Book. What other Auxiliaries are sometimes used, and for what ? 'Whixi do Sales accounts or Consignment accounts show ? What does the debtor exhibit? — ^What the creditor? — ^What the difference? — How closed? For what are Merchandise in Co. and other Co. Speculating accounts kept ? What does the debit side contain ? — What the credit? — What will the difference be and how closed? What does the debit side of Adventure or Shipment accounts show ? What does the credit side show ? — What will the dijference be and how closed ? What does the debit side of an Adventure in Co. or Shipment in Co. show ? What does the credit side show ? — ^What is the difference and how closed ? 184 SET OF STEAMBOAT BOOKS. This set of books is adapted to the western river business, and will be found particularly serviceable to clerks on board western boats, but may also be applied to other boatincr operations. ° The books given are a Freight-Book, Passage-Book, Cash-Book, Leger, and Crews' Leger, which are all described under their several heads. There are, besides, several smaller books, used for taking memorandums ; as, the Deck-Passage-Book, for entering sums received from deck pas^engers ; the Fuel-Book, which contains printed blank receipts, to be filled up, when fuel is purchased, and signed by the person to whom pay- ment is made ; and a memorandum book for taking an account of goods when received on board or delivered, from which the record is made in the Freight-Book. A Bill-Book is sometimes kept, although it is generally unnecessary, on account of the small number of notes taken, the business being principally cash. INSTRUCTIONS FOR THE STUDENT. In order the more readily to comprehend these books, it will be well to imagine your self on board the Steamboat Sultana, acting in the capacity of clerk. After ruling, according to the forms given, enough paper for the several books, enter in the Cash-Book the amount of cash advanced by Simonds & Morrison, the owners of th^ , boat, for its use. Next set down in the Crews' Leger the name of each of the hands, and the agreement made with him : after which, record in the Freight-Book all the goods taken on board at Cincinnati. Then enter in the Journal the note given for charges on Bill Lading No. 1 ; and m the C.-B. the cash paid on B. L. No. 2, and the cash received on B. L. No. 3 : also enter in the C.-B. the sums paid for groceries, marketino-, and wharfage. Next record in the Passage-Book the passengers from Cincinnati ; after°which majce the entry, in the C.-B., of cash received for freight on goods landed at Louisville, and record in the Freight-Book the goods taken on board at that place. Then enter the tollowmg Items m the order mentioned, putting them in the Cash, Freight, and Passage books alternately, as indicated by the nature of the entries, viz. : wharfage and canal tollage paid at Louisville ; passengers from Louisville ; Do. from Smithland ; wharfa iCiisburg ; cash for freight on goods landed at Natches ; passengers from and wharfage ai Do. Now foot up the Passage-Book, and enter on the C.-B. the total amount received lor fare. Next in order comes the amount paid for fuel— marketing at New Orleans- cash received for freight on the different bills— freight paid Brig Adelaide on goods re- shipped— and lastly the wages paid the hands, which are to be entered both in the C -B and Crews' Leger. You may now close up the C.-B. after the manner described under that head, and iour- nahze it ; then post the Journal. Proceed in the same manner with the next trip ; and, having completed it. close up lU Leger, and make a Balance Sheet. Y 185 ■jJT 'J^ .■■-'«-■ STEAMBOAT SULTANA'S Steamboat Sultana's Trip No. I, from n u> 1 Shipper. Embarkation. Consignee. Destination. No. of Ladii 1 Mark. Joseph S. Smith < Cincinnati < 0. A. Ogden 1 S, Orleans 1 ( (C ' rownsend&Williamson VIemphis 2 Q John Farlan " James Morris N. York 3 A) H. Jennings C. > J. Moore & Co. N. Orleans 4 « it cc (( « (( cc ' Anson Avery J. C. Buckles Louisville 5 s (C p. Arbuckle & Co. « Pease & Co N. Orleans 6 u B CC Fellows & Co. Louisville • E. C. Stockton Natches 7 • 2 (C Armour Lake & Co. Memphis Pervis & Wood N. Orleans 8 F 'lliis book is used for recording all goods received on shipment. The headings of the different columns will show the manner of entry. It frequently happens that the boat pays previous charges on goods for freight, storage, &c., or that she pays freight on goods reshipped by her. Sums so paid are entered in the " Freight and Charges paid" column, at the time of payment. The amount paid (or pre- niotis cbargefj, 5»s shown by this column, is added to the boat's charge i for freight as shown 186 ^ FEEIGHT-BOOK. Cincinnati to New Orleans^ June !«/, 1853. Description of Freight. 200 Bbls. Whiskey 500 " Flour 700 Bbls. Pork 300 Firkins Butter Weight. Rate. 700 Bbls. Flour 900 " Pork 10 Bbls. Eggs 20 " Apples 75 " Potatoes 45 Bbls. Flour 50 Boxes Cheese 40 Boxes Candles 35 « Soap 50 Pieces Baffoins: o\) Lous Rope 250 Bales Cotton 44 30 44 25 2,500 1,600 2,100 75 1,00 30 30 30 15 12i Amount. 88 150 00 238 00 Freight and charges paid. 75 308 75 383 25 25 10 10 525 900 1,425 3 6 22 31 00 00 00 00 00 oo: 00 25 00 00 00 50 50 6 3 75 13 9 88 1,00 4 5 00 25 25 500 500 700 00 00 Freight and charges received. 313 10 250 00 00 408 00 00 1,425 00 Remarks. Gave note for charges on this bill $75 31 800,00 •■ * 10 250 50 Shipper paid freight to New York. Shipped on Brig Ade- laide atN. Orleans, and p'd her fireighu $700. 88 25 00 00 2,456,63 by the "Amount" column, and their sum is extended into the "Freight and Charges received column; which gives the total amount to be received. This may be done at any time when convenient during the trip. When the trip is posted, the debit side of Freight account in the Leger should a^ee I>i! .u .r/'?'?^^ ^""^ Charges paid" column, and the credit side of the same accoual With the " Freight and Charges received" column. 187 % -i I 'ism ) r STEAMBOAT SULTANA'S Steamboat Sultana's Trip No. 2, from Shipper. T. Saunders 0. A. OgJen Pervis & Wood J. Newgate & Co. a J. Mclntire P. W. Morrison A. H. Hawley J. T. Lanphier Embarkation. N. Orleans u u u cc cc it cc cc cc cc cc cc cc Vicksburg Memphis 44 Consignee. L. & G. Farwell & Co. Louisville Memphis -^ 24 00 " Bates J (( C( I. Peterson cc New Orleans 15 00 (C 3 D. C. Budd Smlthland cc 11 00 « 4 R. Buttles Memphis u 9 00 ( C( Miss Stanley i( Natchez 6 00 (( 6 B. Burton Vicksburj; New Orleans 6 00 « « Peter Quinn «( cc 6 00 « « J. G. Carlton cc IC 6 00 tt 7 Benj. Black Natchez cc 4 00 u (C Philip Frazer cc cc 4 00 V Amt. from Deck-Passage-Book C.-B. page 1. 38 00 f $249 00 In this book are registered the names of the cabin passengers, with the place of their Embarkation and destination, and the fare. At or near the end of the trip, the amount from the Deck-Passage-Book is brought into it, and it is then footed and the total entered in the Cash-Book. r Date. Alp.. •853. June u cc cc u cc cc cc cc cc fe It cc cc u cc cc cc cc cc cc cc cc it cc c Ci cc cc ((> cc cc 13 (( (( (( (( (( « C( cc cc C( cc cc cc C( C( cc cc cc 14 C( cc 15 IG (( cc cc cc cc cc PASSAGE BOOK. Trip No. 2, from New Orleans to Si. Louis. Names. J. B. Stackhouse R. D. Dewey Peter Vanderlip Francis Guerlain Marcus Snow Matthew White M. E. Brown S. N. Green D. V. Black J. B. Jerome, wife, ) and 2 daughters ) David Cross and lady S. B. Beekman J. Andrews John Armour Madame Shawl and > servant ) D. Parks Silas Buck Seth Stone, wife, ) and sister ) John Peacock C. Loffland C. B. Bowes A. H. Hawley and lady S. Birdseye S. W. Lewelling Miss Simpson Wm. Roberts Jas. Raflin Dr. McDowell T. B. Withers C. B. Payne Embarkation. New Orleans cc n cc cc tl cc cc ■if CI cc u tt tt tt tt cc cc Natchez cc cc Vicksburg cc Memphis cc cc tt tt cc cc Destination. St. Louis cc cc Memphis Vicksburg St. Louis ti ft Natchez' St. Louis cc cc cr Cairo St. Louis cc cc cc cc «c cc cc cc cc cc cc cc cc cc cc Am't. from Deck-Passage-Book C.-B. page 2 . $1 039 W Fare. 1200 1200 12100 800 500 1200 1200 1200 400 4500 2400 12m 12|00 lljOO is'oo 12^00 12 35 10 10 10 9 5 5 5 5 5 5 00 00 00 00 00 1000 00 00 00 00 00 00 00 00 685l00 aC^^ 190 191 STEAMBOAT SULTANA'S CASH-BOOK. « Br Cash. Cash. Cr. — _• Jour, page. Freight. Passage Sundries. Amount. Jour. page. Expenses. Wages. Freight Sundries By Charges paid on Bill Lading, No. 2 *' Groceries at Cincinnati - - - 25 00 1 To Simonds & Morrison, i 1^ r^ /N/^ r\. j^ ■ 3000 for cash advanced Boat - 500 uu " Marketing " " - - . 2000 1 1 1 " Freiirht. on Bill Ladinju, No. 3 - - 1,425 00 " ButterandEggs" " - . - . 1500 [ ! a u" 'u u " Wharfage " Louisville - - - 1 00 \i u u ^^' Rogeks. Boonville, Mo. J $2,000. Memphis, Sept. \2th, 1853. Sixty days from date, pay to Messrs. Parker & Co., at the City Bank, two thousand dollars, value received, and place the same to account of Messrs. Pervis & Wood, as per advice. To Messrs. Brander ^ WUliam^, > ^^^ ^' Maktin & Co. New Orleans. J Remarks. 1st. When a draft is accepted, it becomes a promissory note, and can afterwards, wiik safety, be passed from hand to hand. For mode of acceptance see Vocabulary. 2d. Drafts drawn payable at a certain bank, must be deposited in said bank for collection. See remark 4th, under forms of notes. 3d. Drafts drawn "At sight" are usually paid at the time they are presented. All other drafts hare three days grace allowed on them. BILL OF EXCHANGE. Exch. $3,000. JVm Orleans, JSTov. Uth, 1853. At ten days' sight, pay to the order of Messrs. Blank & Boynton, in Philadelphia, three thousand dollars, value received, and place the same to our account, with or without further advice. To Mr. /. Conly, ) F. & R. E. Trrus. Philadelphia. ) SET OF EXCHANGE. Exch. Je900 Sterling. Philadelphia, March 5th, 1853. Sixty days after sight of this, our first of exchange, (second and third of the same tenor and date unpaid,) pay to the order of Lovering & Bache, in London, nine himdred pounds sterling, for value received, as per advice, for the account of To Messrs. Barings Sf Co.y London. Clark & Co. Exch. Je900 Sterling. Philadelphia, March 5th, 1853. Sixty days after sight of this, our second of exchange, (first and third of the same tenor and date unpaid,) pay to the order of Lovering & Bache, in London, nine hundred pounds sterling, for value received, as per advice, for the account of To Messrs. Barings *• Co,, London. ^^^^ ^ ^^' Exch. je900 Sterling. Philadelphia, March bth, 1853 Sixty days after sight of this, our third of exchange, (first and second of the same tenor and date unpaid,) pay to the order of Lovering & Bache, in London, nine hundred pounds sterling, for value received, as per advice, for the account of To Messrs. Barings fy Co., London. ^'-^^ ^ ^'^• 207 BILLS AND SETS OF EXCHANGE. RxMAnRs. lut A hill of exchange has nearly the same phraseology as a draft. But the formw name is geno* rally applied to a bill drawn payable in a foreign country or state, while the latter is restricted chiefly to a bill pay- able in some part of the country in which it is drawn. The remarks on drains apply also to bills of exchange. 2d. Set of exchange is a term applied to several bills of exchange, each drawn payable provided the others remain unpaid ; so that whichever is first presented is paid, and the others are then void. The date of each is the same, and the phraseology also, with this exception — «« First of exchange (second and third of the same tenor and date unpaid)" — " Second of exchange (first and third of the same tenor and date unpaid)," &,c Each bill of the set is sent by a different conveyance, as security against loss or inconvenience by miscarriage. 3d. Most foreigpi bills are now drawn through bankers, or brokers, and a** Set of exchange" is commonly spoken of as a « Bill of exchange," without regard to the distinction between a single bill and a set, 4th. When a bill of exchange is protested for non-acceptance or non-payment, and returned, the holder can recovr^r the amoimt of the bill,, and damages «* consisting, besides interest, of the exchange or ro-exchange, commission, postage, and expenses of protest, and interest on those expenses," from either the drawer or endorser, or if accepted, the acceptor. Several of the states have special enactments upon the subject, allowing a certain per-centage in addi- tion to, or in lieu of, these damages. 5th. When an acceptance is partial, as to pay a part instead of the whole bill, or qualified, as to pay provided some future event occurs, notice of such partial or qualified acceptance should be given by the holder to the other parties to the bill, if he mean to resort to them in case of non-payment 6th. A bill is sometimes drawn at usance, which means the usual time for pay nrient allowed by the custom or law of the place where it is payable. The usance of Amsterdam, Rotterdam, Antwerp, Hamburg and Bremen, is 1 mo. after date ; of Madrid and Gibraltar, 3 mos. after sight ; of Leghorn, Genoa, Venice, and Naples, 3 moa after date ; of London, 60 days after sight; of Paris, Bordeaux, Malta, and Rio Janeiro, 30 days after date; of Dublin, 21 days after sight ; of Dantzic, 14 days after date ; of Leipsic, 14 days after acceptance. 7th. In most foreign countries, as in the United States, days of grace beyond the time when a bill becomes doe are allowed for its payment. The days of grace in Great Britain are 3, except on bills drawn payable at sight, which must be paid as soon as presented. In Geneva they are 5; in Lisbon, Amsterdam, Antwerp, Rotterdam, Cadiz,. Venice, Oporto, and Rio Janeiro, 6; in Bremen 8; in Dantzic, Paris, and Bordeaux, 10; in Altona and Hamburg, 12; in Malta, 13; in Madrid, Gibraltar, Barcelona, and Bilboa, 14 ; in Genoa, 30. ^ ORDERS. Mr. James Park will please pay to S. Ely, or bearer, eighty dollars, in merchandise, on our account. yr^ Hughes & Co. Memphis y May 22d, 1852. Mw Orleans, Kovember 23(/, 1852. Messrs. Blank & Boynton : Gentlemen — Please pay Messrs. Rogers & Co., or order, the fifty dollars due me for repairs of your store, and oblige Yours, &c., S. Bridges. RECEIPTS. Received of Mr. J. S. Brown, three hundred dollars, in part of his account. Phila- delphia, January 18th, 1853. J. M. Reynolds. Received, St. Louis, December 4, 1852, of Messrs. Sifert & Philips, seventy-fire dol lars, in full for all demands. j^ ^ Gibbs $75. mm'^ 3*. Muve o\, ui (>0A/ u veeA€ Making Board and putting up ^-^^ Shop To Henry Talbott, Making Sign for Camden & Amboy R.-R. Co. Cash To Shop Rec'd of John Payson, for painting Sign, pr. agreement Cash To Bailey T. Stokes, In full of % Shop To Jonathan Long & Co., Paints, Oils, &c., pr. Bill Jonathan Long & Co. To Cash, In part of above Bill Shop To Wm. G. Bradbury, Bill of Paints, Glass, &c. Thomas Templeton To Shop, ^ ' Glazing 1 Light, 11 by 18 Jonathan Long & Co. To Sundries, To Cash, Paid on % To Shop, Glazing 10 Lights, 10 by 18, ©25/ Shop To Geo. L. Searles, 5» days' labor, @ $1.00 Geo. L. Searles To Cash, On % Shop To Cash, Smith, Wages in full In Bank, $364.93, in Safe, $10.00=Ba/. on hand, $374.93 Philadelphia Exchange To Shop, Glazing 4 Lights, 10 by 16, @ 25 / 1-00 Painting 8 Rooms, 2 Coats, pr. agreement, ^^^Q 2 >/ 3 %/ 3 3 4 %/ v/ v/ Amounts forward >/ %/ v/ 4 3 4 v/ 4 4 >/ v/ >/ 2 4 o 4 %/ v/ 212 Dr. ■1 \. f Cash. 500 00 675 506 30 6 75 543 00 75 50 543 Bal. 50 H DAY-BOOK FORM 1. Cr. Dr. 105 32 75 37 3 6 120 00 00 44 25 00 10 9 4 00 00 13 168 168 874 57 57 93 Shop. 75 105 00 32 75 37 6 6 00 00 00 52 140 64 00 8 4 406 25 13 46 Cr. 213 6 2 4 6 16 75 00 25 75 50 25 Dr. 3000 16 37 50 00 92 Proof 37 Sundries. 16 3 75 00 25 25 50 00 25 12 16 00 37 50 00 102 1,062 00 62 58 Cr. 575 00 10 00 6 52 140 75 64 00 8 25 79164 1,062 68 % ttf DAY-BOOK, FORM 1. Philadelphia^ Septeniher \5th, 1852. 1862. Sep. 1852. Sep. (( Ci cc u 0* 139 " 10 " 12, '* 7 ' ^ ^'^ 1920 " 8 " 10, " 3 * &"<50 20 " OldGlazing, 11 by 17, © 35/ 7.00 Painting 110 Window Frames, @. 45/ 49.50 ♦• Reception Room 5.>o Shop To Cash, Paid Wages, pr. Time-Book In Bank, $541,75, in Snfe, $^4.00= Bal. on hand, $:C5.75 Personal Expenses To Thomas Templeton, 1 Blk. Cloth Dress Coat 15.00 1 Pr. Blk. Cass. Pants ^'0 ^ Shop To Cash, Paid P. Lee for Sundry Jobs Carpentering, as pr. Bill j '♦ for 10 Gals. Linseed Oil, @ $1.02* Cash To Shop, Shop To Cash, Sargeant & Willis To Shop, Shop To Cash, Paid H. Smith Wages in full *♦ Rent of Shop, one month, to date Cash debits, $637.88, less former Bal., $379.68= $258.20 Cash Receipts In Banky$62lA3, tn-SfTfe, $18.65 4 1 5 4 k/ v/ 1 2 ;I t v/i: It Rec'd for Tin Sign Tin and Japnnning Painting Office, as agreed Balance Cash on hand, frqm Sept. 30th 214 2 5 v/ I 2 v/ •J J. v/ v/ v/ v/ 1 2 I Hr Cash. 543 50 25 00 561 BaL 75 37968 13 20 25 00 210,00 627 88 10 00 637 BaL 540 88 08 DAY-BOOK, FORM 1. Cr. 168 57 Dr. 182 379 50 00 07 68 2 4 12 38 25l63 32 13 22 50 16 4 6 16 25 25 00 67 97 540 80 08 Shop. Cr. 406 46 25 00 417 71 12 4'38 2563 22 50 16 25 25 6 00 16'67 97 80 92 37 25 Dr. 110 00 Proof 62 13 40 20 00 2&00 21000 134 12 10^00 30 00 462 Proof 32 215 Sundries. 102 15 62 14 50 125 1,104 26 72 40 00 13412 21 00 30 00 225 12 960 80 Cr. 791 15 5 64 14 25 812 1.104 379 03 72 68 21i00 400 68 9 60! 80 "F=- 540 08 r-r-rrj^' ■1 i" 00 o o 00 w »-H ' — ^^B CO o o CO o CO ^^H CO CO o ^ ^ ^^^B ,: i-l r3« lO O •—1 ^H o r^ l-< 1^ o> ^H 9 1 ^ ^^^^p O N ^^^^K s ^^H IS 00 O ^-^ a ^^^H r-t 1-4 P5 • '^ 1 »- o ^^ »* II ^^H ^ CO <*«» Z ^ ^ H ^^^H a 05 5 iS 8 ^^^B •\ XT' r^ 1 ^ i 8 I • oa * * • i » 1 i 1 1 » i • 0' ■■■, * • •s ^^^B ■•a . . o eo CO ^^^^ H^ «a • 'o OS 05 ♦» ^^^^B u »— 1 to r^ •^ ^^^H ^ u . . (M m • • • t^ 05 •1 ^H EH Q r-* ^^ a ^H W ^ • • • • » • g ^^^^H •ES) ^^^B Q CO* . .00 .o o V.4 •Ift L^^^B o • rJ<-» * •CO •o o 00 .2 •*• ! o 1 ^^^H lO C^o o CO o ^-J ^^^^1 • l^ . O' . • »^ -^ • 4 Oi ^^^H i: o iO •* •-« I- .ka QQ ^H H ^H O ■ ;2; -5^ •3 o e3 GO O 0* o «-• o o 00 O rH Tt< C^ 00 «0 O ^M H f^ *: « . T** . ^ ^^ ap, and thi amount extended into *« Sundries column. AU recejts o Ca." ^-^/.^^ CASH-BOOK, FORM 2. Cash. c i-. ies. Date. Expenses. Sundr 1852. - Oct. 8 By Expenses, Travelling Fare, Board at Boston, and other Incidental Expenses, as pr. Memorandum 31 m ic cc " Merchandise, Paid Freight 12|50%/ cc 9 Do. Purchases, pr. Invoices 1,353:26%/ cc 11 " Expenses, Blank Books, pr. BiU 11 75 c< 12 " Do. 1 Ton Coal 4 50 cc 16 " Barber T. Lee, On % 600v^ cc cc " Expenses, Wages of Gerks D.-B., folio 2, 16 50 64 00 64 00v^ J. <{ B. T. L. L. W. Wm. Bates To Mdse., pr. wife, 2 Yds. Linen Lawn @ 65 10 " Cambric Edging " 25 16 " " Inserting '♦ 34 8 " Swiss " 1 Velvet Mantilla 1 Lace Cape 14th ti 22 Expenses To Wm. Bates, For his Bill of Repairs 16th Mrs. Eliza Anderson To Mdse., 1 Pr. Blk. Kid Gloves (( Isaac Norris To Mdse., pr. daughter, 1 Blk. Silk Mantilla 2 Embroidered Collars @ 1.122 (( Cash To Sundries, pr. C.-B., To Bills Rec, 7th 625.00 Do. 14th 125.50 " Merchandise, Cash Sales Mdse. carried forward 221 91050 1,20000 389'50 3,696 25 lf75 50 Sundries Cr. 375 1 2 5 30 50 44 176 2500 450 1000 15 2 1,091 7,363 69 00 25 35 04 2,500 00 2,23000 845 50 620 75 Mdse. Cr. 10 650 506 00 50 29 7,363 04 — r 325 375 4050 69 17 25 44085 506-29 * I N> < 2 DAY-BOOK, FOEM 2. North Adams, Mass., October \&h, 1852. L.F. 1 1 5 2 Sundries, Merchandise, Do. Barber T. Lee, Expenses, Mdse. brought forwwrd To Cash pr. C.-B., 8th 12.50 9th 1,358.26 16th For the mo. __ 18th Barber T. Lee To Mdse., 1 Blk. Italian Crayat . 20th 5 Hiram T. Owens To Mdse., pr. son, 1 Yd. Col'd Silk Velvet 1 Pr. Blk. Kid Glovea 2 *« Lisle Thread " ® 3^' 21st Isaac Norris To Mdse., pr. wife, 5 Yds. Swiss Muslin ® 25 1 «« Green Barege 1 White Demi Veil 1 Blk. ** " 1 Fancy Silk Scarf 1 Box Artificial Flowers 4 Linen Cambric Hdk'fs "45 . . 30th Sundries Dr. Expenses To Barber T. Lee, 1 month's Wages to date 539 4 1 1 Cash To Wm. Bates, I8th " Bills Rec, " Do. 27th " Isaac Norris, 28th " Interest, 29th " Merchandise, To Sundries, pr. C.-B., 51.60 100.00 Cash Sales Sundries Interest, Do. Barber T. Lee, Do. Merchandise, Bills Payable, Expenses, To Cash 18th 27th 18th 30th 27th 29t]^ pr. C.-B., .77 1.77 20 1,515 Sundries Cr. 60 55 94 12 38 80 00 34 2.00 10.75 For the mo.. Total Merchandise Credits Mdse. Cr. 20 30 151 10 8 00 50 60 00 76 254 12!75 51028 52040 69 50 \ 3,200,20 1,11547 1,863 87 3,200 20 TRIAL BALANCE, LEGER, FORM 2. Dr. Cr. L.F. 1 1 1 2 2 o 3 3 3 4 4 4 5 6 6 Stock - • - Cash - - - - Merchandise - - - Bills Receivable - Bills Payable - - - Expenses - - - Interest - - - - Profit & Loss Abbott Lawrence - Daniel Webster - James Peabody Mrs. Eliza Anderson - Isaac Norris - Hiram T. Owens - Misses T. & M. Williams 53960 979 1,314 4S I 1,86387 In closing this Leger, the Mdtt. remaining unsold, as pr. Inventory, may be called $4,563.89 JtJtO 1 o o »o a ! CO lo t- 00 «o i »o Oi »o o iQ ec Oi u O -^ CN t— oc lO 1 o r- 00 o rH 1^ c^ CO CJ o 1 « a C3 oc:io ooTfcooi«o 1 3 S n 00 Oi • ' 00 Cd CO t— b- 1 CO • O CD t— rH T-» rl o o 1 Oi lO CO C5 • lO lO o . . O 1 C5 OQ o • • ' CO CO V . n o CO CO • o . • • 00 UO ::: "» • o o »< O • • • - C4 1-^ a 2 OS Ci ©Q 03 \ • « • * • o CO 06 O CO CO , • • • 00 00 "S « S ^ u ■■ » • « CI I- o3 o 1 05 k • « (M 1*^ « 1^ O CO •\ • , CO . b- p^ c5 -^ "^ <3 p^ o ^ 1 !^ B . • • • • " CO 1—1 o CO lO 00 (M ■ • .CO . • • °° b- 1 •\ u l-l CI Tj* H BH Q u P=q . • ■ • • • 1 1 W 1 n o at C > c^ . o o t- 00 \ a Ul o • 00 cc -> 'CM • lO t- o o CO c : CO o o CM o «e . O . . Tt< C^ 00 * .1 • U »o •o t* QOCO CO pq l4 o o ^ (M ^ ^ r^ lO js 12; • • • • ••••• COCMO .O .O . .QOTjHCOOiO t- judge of with this -^ a! • Oi O^ OS O O • OO T}1 OS t- b- o lOt— (N CO O lOOSCO-^CM C>4 • .COOit- .CO .C^ . • tH 1-1 tH Oi O CO tH oo CO pq • • • • • ^ be able t mparison L. Folio. rHr-lr-l'ali>ft-lok is the one here selecteil. Commeu(>e with tbvdiMk side — "Ca^^h I'd >undrie8'' — and enter the various receipts to the credit of tlie proper accounts, and place together the Mfveral raMS rtveived at different times from the same account, so as to add up and post them in one amount to the Leger. This renders it n tnuw a ij to look over the whole of the Cash debits carefully for each account entered, to fiud all the receipts therefrom ; and. to avoid oniL^noBS and errors, check each sum in the Cash-Book, as soon as journalized. To afford convenient reference from the Journal to the Cx-^b- Book at any time, affix to each sum its proper date. Having completed the debits, next journalize the credit side, saying " :>undxie4 Tot"a>h," and doliitiiiT all accounts for wliich p«yinents have been uiiuie during the month. Journalize the Bill Book under the headings " Bills Beceivable To buudries," and " Sundries To Bills Payable,*' checking the iteiu *s you pffK-eed. ** Stindrirs To Merchandise" is the proper heading Ibr the Sales-Book. Tlie two columns for dollars and cents are not used to distinguish debits from credits, but the first is for items, and the aeeood i^t the extension of sums total. Id pnatiug the entries journnlized. the last day of the month may be uFed for the date in the Leger. In opening the acroants in this Lejier, you may observe the usual counting-house arrangement of them, which is to open the accounts of fiartners, property •cnouQt^, and all the general bui>in«h8 accounts, in the first part of the Leger, by themselves; and to let all the personal aroMioto follow them. This renders convenient the taking of Trial Bidance* and other exhibits from the Leger. 4^- Be particular to make your own additioiui, extensions, and other caloulatiou&, wherever they occur in any of the hooka. ^ "17 227 k Dr. CASH-BOOK, rOEM 3. Cosh. 1852. *~ ■ ' ■"* Nov. 1 To Edwin M. Lafourcade f Am't invested 10,000 00|/ n it *' Louis P. Lafourcade, « it 5,000 00|/ u it " Chas. Boutelier, Jun., " " 5,000 OOy/' tt " Merchandise, Sales this day 37 oOy/ t( 3 " Bo. Of Grayson & Co., less Dis. pr. eontn :^;| . 357 40./ (I 4 " Do. Sales this day 319 80i/ ti 5 " Do. t« « « 25 OOv' u 6 " Do. U 11 U # 87 88|/ 20,777 58 u 8 " Samuel Tillotson, On '^ 500 00,/ it 9 " Merchandise, Sales this day 839 00|/' u 10 " Interest, Dis. on Bills Pay. No. 3, pr. contra, $2,806.84 @ 5% 140 34 1/ « 11 " Bills Receivable, If o. 1, discounted by Durbin, Paysoa A Co. 562 50v^ it 12 " Merchandise, Of Jacob Lukens, Jun., less Dis. pr. contra 216 OOy/ tl 13 " Do. Sales this day 6 30v' 22,541 72 I 16 " Interest, Dis. on Bills Pay. No. 4, pr. contra, $492.50, for 53 days 4 -V tl 20 " Merchandise, Sales this day • 75 OOy' 22,620 99 tt 23 " Merchandise, Net Sale to Peter Phelps, 19th Inst 180 OOy/ tt 25 " Bills Receivable, No. 7, discounted by Julias A George Lee 398 67r/ it 27 " Merchandise, r Sales this day 10 00|/ 28,209 66 tl 29 " Merchandise, Of Benj. Loper A Co., lest Dis. pr. oonM 408 00|/ It it *' Samuel Tillotson, On % 500 OOy' it tl " Merchandise, Sales this daj 40 oOi/ it 30 " Mrs. Mary Green, InfuU 7 MV ^^^"^ 1/ 24,165 97 1852. Pec. 1 To Balance, from Not. 30th 10,787 02 228 CASH-BOOK, FORM 3. Casli. Or. 1^52. Nov. it tt tt tt it It tt (I u it it it tt n ll u ti it it tt ti ti ti it it if it a a tt u it it . 2 (t 3 5 t( 6 8 9 it 10 11 12 13 15 16 18 it 20 it tt it 22 25 26 27 it tt 29 30 tt it it (t By Merchandise, " Expenses " Do. <* Interest, " Merchandise, « Do. " Expenses, Bo't of Isler A Co., pr. Invoice Store Fixtures Drayage A Labor Dis. 6 % on $357.40, pr. contra Bo't of T. Lathrop, pr. Invoice Hoops for strapping boxes Cooperage tt Joseph Ralston, " Merchandise, " Expenses, " Bills Payable, " Interest Do. 19,874.13 1 Jig 18.39 892.52 In Bank In Safe On% Bo't of Le Brun A Bro., pr. Invoice Blank Books and Stationery No. 3, discounted by us, pr. contra Dis. on Bills Rec. No. 1, pr. contra, $562.50 @ 5 % Dis. on Sale to Jacob Lukens, Jun., 5lh inst, pr. con- tra, $216 @ 5 % " Webster & Shaw, Boston, Paid their Draft on us @ sight, favor of Ludlow A Co., dated 3d inst In Bank 17,863.40 In Safe 121.15 " Merchandise, Bo't of Lind A Beers, pr. Invoice " Bills Payable, No. 4, discounted by us, pr. contra " Expenses, Cooperage, Labor, Ac. " Louis P. Lafourcade, On % " Joseph Ralston, " " " Merchandise, Rec'd pr. " City of Glasgow,'* from Robertson A Howell, Luton, Bedfordshire, Eng., an Invoice of Bonnets, dated 1st inst, Am't £160 8». 6rf., for which we have remitted them a Bill of Exchange, @ 3 mos. from date of Invoice, purchased of Ledoux A Cornelle, on Brown, Shipley A Co., Liverpool, @ 9« % Prem, }$ir, 984.55 " Merchandise, « Do. ;}$i5, ,426.14 tt Expenses, " Interest, " Bouvier Brothers, " Merchandise, Freight on above, and Shipping Expenses in Eng. Dudes on £160 8«. 6i. (@ $4.84 pr. £) @ 30 % In Bank 16,420.50 In Safe 6.64 Paper A Ink Dis. on Bills Rec. No. 7, pr. contra, $398.67 @ 5% On'^ ^ Geo. Parr A Co.'s Bill of Exchange on Brown, Shipley A Co.,' Liverpool, for £320 17«., @ 3 mos. from 8th inst., purchased @ 9 % Prem., and remitted to Robertson A Howell, Luton, Eng., for Invoice of Bonnets, Plaits, Ac, of same date and time, Rec'd pr. " Niagara" ** Merchandise, Shipping Expenses in Eng., and Freight « Do. Duties on £320 17». (@ $4.84 pr. £) @ 30% " Interest-, Dis. on Sale to Benj. Loper A Co., 26th inst, pr. con- tra, $408 @ 5 % " Merchandise, Rec'd pr. " Crescent City" from Havre, an Invoice of Swiss Straw Plaits, Laces, Ac, dated Nov. 2d, Am't 10,176 francs, for- warded to our Order by Surbridge, Bro. A Co., Wohlen, Switzerland, for which they have drawn on our ^/c,@ ^ mo8.,a8 pr. instructions, on Dela- croix A Co., Paris. We have purchased a Bill of Exchange of Ledoux A Cornelle, on Delacroix A Co., and remitted to them to cover the Am't of their acceptance f.10,176, and their Com. for accepting 1 %, £101.76 = f.l 0,277.76— Exchange @ f.4.89 to the dollar. " Merchandise, Transportation from Wohlen, Shipping Charges and Com. of Agent at Havre, and Freight on above Mdse. " Merchandise, Duties on f.l0,l76 (@ IS^^^Pg^^ pr. f.) @ ZO % " Expenses, Rent of Store $75, Wages of Clerks $75 " Balance, In Bank %10,719.10, In Sa/et61. 92 4,557 562 492 2 500 10 00^/ 85 75y 93{/ OOy^ 34|/ 50|/ Sly/ 'I / 24,165»97 229 p BILL-BOOK, FORM 3. Bills ^ No. of Note. 1 2 3 4 5 6 7" 8 9 10 When Received. 1852. Nov. u u u a Drawer 2 3 8 111 18 u 25 i Durbin, Payson & Co. Willard, Brady & Co. Ourselves Decoursey & Wise Julius k George Lee u No. of Mote. 1 2 3 4 5 6 7 8 9 10 When Issued. 1852. Nov. a li a ^t n II u 1 u u 5 10 16 23 29 30 Drawer. Ourselves In whoM IkTor. Ourselves Accepted by Ferree & Bro. in our fav. Drawer Ourselves Dnte of Note. 1852. Nov. Oct. Nov. a n n n t( u 9 3 28 8 11 lb (( (k 25 Time. C mos. ""-■4'*- * G 4 6 8 5 «4 . 44 44 44 4( (4 I In whose faroi*. Drawer {% of I>ufour, N. & Co.) Date of Note. Dufour, Nephew & Co. Margot & Haines Drawer (% of Dufour, N. & Co.) 1852. Nov. Margot & Haines E. B. Bolton Accepted by us in fav. of Drawers 1 4( (4 5 10 16 23 29 29 30 Bills Time. 2 mos. 4 '' 6 " 60 dap 3 mos. 6 " 4 '* 90 day.- 4 mos. 3 '^ 230 Receivable. BILL-BOOK, FORM 3. When due. Where due. s i s. S? i >» Q p 13. *i S 6 Amount. Remarks. »^ u* S < s »n >-» •< JS o » o Bank of Louisiana 5 562 50 y/ Discounted Nov. llth New Orleans 6 102 97 v/ (( 1 377 25 v/ « 10 377 25 v/ Bank of Louisiana 14 259 65 y/ u 21 398 67 v/ u 21 398 67 y/ Discounted Nov. 25tli a 21 398 m y/ Planters' Bank 28 297 00 >/ (( 28 • 297 00 >/ 3,469 62 *" • Payable, . • Wben due. Amount. Where dueb s A ^ fi S? a a to 9 r; • 8 Reaiarb. ^ a •< ^ •? •-» < n O k; Bank of Louisiana 4 2,806 83 %/ 44 4 2,806 83 %/ « 4 2,806 84 x/ Discounted Nov. 10th Planters' Bank 7 492 50 i v/ " " ISth 44 13 65236 v/ ^ « 19 42210 v/ « 26 210'28 x/ C( 2 91035 %/ New Orleans 1 71200, s/ Bank of Louisiana 3 165175 %/ 11,98584 v^ , .J 231 / / r SALES-BOOK, FORM 3. New Orleans, November \st, 1852. V V Ferree & Brother, 15 Cases, 180 Prs. Men's Stout Boots 3 " 180 " " Laating Gaiters 18 Cooperages JJatchez. @ 2.00 1.75 25 Durbin, Pay son & Co., 2d (Note pr. B.-B.) 1 Case, 60 Prs. Men's Goat Nullifiers S 2 1 2 2 1 (( (( it 180 120 60 120 120 60 u it tt Women's Grain Buskins " Lasting \ Gaitcn " Col'd " " « Kid Slippers R. R. Misses' Goat Lace Boota " R. R. Paris Ties 12 Cooperages Vicksburg. @ 80 80 00 80 ro 75 62* 25 <( V Paid V Dolbear & Reikert, 128 Ps. Straw Trimmings 24 " French Straw Lace 12 " " Inserting " Memphis, Tenn. (^ 50 1.25 1.50 Box k Cooperage (( Cash Sales, 50 Scores Sacramento Plait 50 " " " @27« 47« . 3d Willard Brady & Co., 75 Scores Rock Luton Plait, No. 4 (Note pr. B.-B.) « « Paid less Die 100 8 Maids' Coburg Bonnets 18 " China Pearl " 12 Women's " " " 16 " Goffer'd Edge « u u u 5 2 1 S Cases Coop«rage Orange St @45 50 25 83 37« S3 50 tt Paid / Paid Grayson & Co., 3 Cases, 180 Prs. Women's Calf Lace Boots 119 Maids' Feather Edge Bonnets 4 Cooperages 1 Case Natches. @ 1.25 1.10 25 Cash Sales, 10 Prs. Men's Stent Boott 4th u % 1.98 Dolbear & Reikert, 48 Women's Cap'd Bonnets 48 " Tulip " 50 « Eng. Straw « Memphis. @ 1.122 1.20 87« Box k Cooperage a Jones, Brother & Co., (Net) 4 Cases, 240 Pri. Women's Lasting Gaiter Boots Canal St. % 1.25 A Am't forward 232 860 315 4 48 144 108 48 84 90 37 3 00 00 50 00 00 00 00 00 00 50 00 64 30 18 13 23 00 00 00 75 75 75 37 33 50 o 5 4 5 1 225 130 1 50 75 00 00 94 50 28 00 50 00 90 00 50 19 54 57 18 300 80 00 60 75 75 00 679 50 562 5u 112 tn Cash Sales, 18 Maids' Triplar Bonnets ® 35 6 30 t'^iVi 1/ LOlu William P. Lewis, Market St 2 Dob. Pr. Straw Lace, Kmb'd @ 6.00 12|oO Am't forward 2,648 58 2 E 233 / V SALES-BOOK, FORM 3. New Orleans, November \Sth, 1852. V BooU Julius & George Lee, Cases, 48 Prs. Men's Stout 48 " " Kip " 48 " " Calf Pegged 48 " " " Sewed " 240 " Boys' Stout Brogana tt 240 " " Kip " " 240 " Women's Kip Lace Boots 240 " " Calf " ** (Notes pr. B.-B,) Baton Rouge. it (I « ft 32 Cooperages @ 1.75 2.00 2.50 3.25 75 80 60 90 25 Paid 23d Paid 19th l/ Peter Phelps, 20 Do*. Blond Straw Lace 20 Ps. Swiss " Cord (Net) Market St. @ 4.50 4.50 Cash Sales, 50 Doz. Tassels 20th 22d @ 1.50 Ferree & Brother, 12 Maids' Feather Edg« Bonnets 50 " Plain Straw u V 62 Paper Boxes Natchez. @ 1.03 622 3 25th Julius & George Lee, (Notes pr. B.-B.) Baton Rouge. 6 Cases, 72 Prs. Men's Calf Stitched BooU @ 5.00 Q « 72 " " " Sewed " 3*25 Paid 29th Paid - 26th Benjamin Loper & Co., 8 Cases, 480 Prs. Women's Kid Slippers, R. IL 27th Pojdras St (^85 Cash Sales, 12 Prs. Children's Calf Brogana a (g|37« PMd Paid Samuel Tillotson, 15 Cases, 900 Prs. Misses' Goat Lace Boots 15 " 900 " " R. R. Paris Ties Grarier St (3>75 60 (( Cash Sales, 20 Girls' Diamond Satin Bonnets ®27« 29th Cash Sales, 18 Maids' China Pearl Bonnets 30 Women's Tulip " 1.15 l/ 30th Benjamin Loper & Co., 6 Cases, 300 Prs. Youths' Stout Brogans 5 « 300 " " Kip " 5 " 300 " Children's Calf " 2 " 120 " Women's " Lace Boots Poydras St @ 62« 50 1.25 Total Sales on time for the month 234 11 84 96 120 156 180 192 144 216 8 00 00 00 00 00 00 00 00 00 2,648 58 90 90 75 1,196 00 00 00 12 31 36 25 1186 360 234 00 00 675 540 50 00 00 6 34 50 00 50 40 187 150 112 150 50 50 00 50 00 00 ^5^P00 4547 594 00 ^5^00 1,215 00 600 6,299 00 05 JOURNAL, FORM 3. New Orleans, November 1st, 1852. 1 ' 1 3 3 2 3 1 3 4 4 4 4 4 2 2 5 Merchandise To Edwin M. Lafourcade, Invested, as pr. Invoice _ 15th Joseph Ralston To Dolbear & Reikert, Order of J. Ralston on us, favor of Dolbear A Reikert, ^ 30th Expenses Wages for one month To Joseph Ralston, u Merchandise To Sundries, Purchases this month, pr. Invoices. To Dufour, Nephew & Co., Notes @ 2, 4 A 6 mos., "3 mos., " 6 it a tt u it u tt u tt tt 4 « 3 it it tt " Webster & Shaw, Boston, Miwa., Dran^ t( (( u u ti «r tt tt " Margot & Haines, {( n " Bouvier Brothers, a (( 4 mos., 4 " Note @ 60 days, ti a gQ ti 2 mos., 4 « ' " Lewis Davis & Co., " Jones & RiggS, Lynn, Mass., " Brainerd & Son, " E. B. Bolton, a - 3 6 4 Note @ 4 mos., tt tt tt Ist 10th 16th 23d 30th 3d 17th 25th 5th 29th 13Ui 26th 18th 22d 29th a Cash To Edwin M. liafourcade, " Louis P. Lafourcade, " Charles Boutelier, Jun., " Merchandise, u u u u u - it u u tt tt tt tt tt tt tt tt tt tt tt tt To Sundries, / « Samuel Tillotson, tt it " Interest, .,v tt tt *' Bills Receivable, tt tt " Mrs. Mary Green, (Sundry Debtors) Receipts pr. C.-B. 1st *i *i 2d 3d 4th 5th 6th 9th 12th 13th 20th 23d 27th 29th it 8th 29th 10th 16th 11th 25th 30th 235 8,420 652 210 165 725 556 1,342 492 910 840 610 50 36 10 28 75 00 50 64 50 35 60 18 13,628 34 25 65 00 00 37 357 319 50 40 80 9,870 99 2,624 14 1,402:85 1,45078 2,13390 1,84000 1,445 !80 712; 0O 2M?hJ14(5 10,000 5,000 00 uO 5,000100 25IOO 37 88 339 216 6 75 180 10 408 40 500 500 00 00 30 00 00 00 00 50 140 4 562 398 00 00 34 27 50 67 2,052 1,000 144 961 38 00 61 17 81 24,165 97 ^*t: iii 4k.oa ...... Ferree & Brother ..... Sundry Debtors ...... Bet^jamin Loper A Co. .... Penonal ^^ baring balances due firm JoM-ph Halfitnn - Welwter & f^baw Bouvier Brothers Lewis Davis A Co. Jones & Kiggs Brainerd & ik>n 218 916 45 15 600 1,796 85 55 47 76 00 62 Personal ^^ having balances firm owe • Edwin M. Lnfourosde Lnuit) P. Lafourcade • Charles Boutelier, Jun. Ca8h .... Merchandise « BillH Keceivable • hi\U l>ajaUe • Interest ... Kxpenses Pergonal %^ due firm Personal %4 firm owe 10,787 02 34.286 36 2.508:45 119 57 278 50 1,796 62 49.776 52 25 00 1,899 450 2,133 1,840 1,445 7.794 14 78 90 00 80 23,746 4.523 5^025 8,686 7,794 62 62 50 I 4P.77tIo2 236 237 T This Trial Balance, it wifl be 8C«b, H made out in a different mann^ from the preceding ones. It is so done to show how personal accounts, which in real business are almost always numerous, may be brought within a sufficiently small space, so that Balance Sheets and similar ex- hibits can be easily made. The third division, commeneia^ with the partners' names, is all that will be required in making out a Balance Sheet, See next page. In closing this Leger, the Mrr- chandiie remaining unsold, as pr. In- ventory, may be called §36,637.11. The Leger is given in the Key < . PRINGLE & FIELD. PRACTICAL FORM, NO. 4. POSTING DIRECT FEOM VARIOUS BOOKS OF ORIGINAL ENTRY. \ > 239 EXPLANATORY REMARKS, FORM 4. • This Form is intended for wholesale, Jobbing, importing, or manufacturing houses, and will be found a labor saving and accurate method of keeping their accounts. The books of original entry are Day-Book, Cash-Book, Expense-Cash-Book, Sales-Book, and Bill-Book. No Journal is used, and posts are made directly from each of the books of original entry, except the Ex- pense-Cash-Book. The books are so arranged that entries to the accounts of indiyiduals may be posted daily, while most of the property and profit and loss accounts, which require numerous entries, are posted monthly, or at other stated periods. A particular description follows each book given, except the description of the Sales-Book, which will be seen below. Sufficient illustrations of Letter-Book, Check-Book, Time-Book, or other auxiliaries needed, have been given in the preceding portions of the work. DIRECTIONS FOR WRITING UP. You will find it of great advantage to write up this Tona, which should be done in the following order, in the blank books which have been prepared for the purpose. On the^r«< day of the month by examining you will find one entry in the Day-Book, and two in the Cash-Book, which you will enter in the same manner in your Day-Book and Cash-Book— leaving the Leger folio columns blank, to be filled when you post. Next examine the different books of original entry, to see what trangactions occur on the aecond day, and enter the same in your books. After completing them, proceed with the third day in like manner. And so on with each succeeding date, recording, in the proper books, all transactions that take place on any particular day, before making any entry of the day following iU This will give an idea of the exact process of entry in the counting-house. After writing up the month's business, post from the several books to the Leger in the same order as above described, that is, in order of dale. To distinguish to which book of original entry the folio in the Leger rpjers, all posts (except monthly total postings to the property accounts) should be entered as follows, viz., those Irom the Cash-Book. "To" or "By Cash;" from the Sales-Book, "To Sales;" from the Bill-Book, " To Bills Pay." or " By Bills Rec. ;" and those from the Day-Book should be marked " D.-B." before the folio. In opening the accounts in this Leger, you may observe the usual counting-house arrangement of them, which is to open the accounts of partners, property accounts, and all the general business accounts, in the first part of the Leger, by themselves ; and let all the personal accounts follow them. This renders convenient the taking of Trial Balances, and other exhibits from the Leger. jar Be particular and make your own additions, extensions and other colculatioDS, wherever they occur in any of the books. SALES-BOOK. This book is a record in detail of all faleg, cash and credit. We have supposed the credit sales to be all at six months, and have therefore not mentioned the time, which should be done if sales are made at diflereni terms of credit. Posts may be made daily, or at convenience, to the debit of the parties purchasing. The sales for cash, as entered in this book for any given day, must be summed up at night, on a slip of paper, and entered in total in the Cash-Book as " Cash Sales, This day," which total must also agree (m business) with the actual amount of cash received for sales during the day. These " Cash Sales'' must then be marked '♦ C.-B." in the Sales-Book, to indicate they are transferred to the Cash-Book, and " S.-B." in the Casli-13ook, to show they come from the Sales-Book; and must receive no debit post from this book. They should be summed up, however, in the amount taken forward from page to page, and posted in total with the other sales, at the close of the month, to the credit of merchandise. Thus the credit post from this book exceeds the several debit posts by the amount sold for cash during the month. But this is offset, and an equilibrium produced by the postings from the Cash-Book, where the monthly dAit post to cash exceeds the several credits by just the same amount. ,. , . ., • j u-j If a credit sale be ttaid before it has been posted, it can be noted in the margin as paid on such a date, marKea " C.-B.," and entered in the Cash-Book as " Cash Sales."— See entry of 4th inst. . ^. ., , , c When a sale is made for cash, the entry can be brought through the account of the individual on Leger, ii preferred, as in case of S. C. Atkinson, 24th inst. Sales for notes must be debited the individual to whom sold m this book, and the note credited to his account in the Bill-Book. « • n l u- u « Houses of extensive business frequently have two Sales-Books, called «W and even Sales-Books, which aro alternately used on the days indicated by their titles. The object of this is to give the book-keeper an oppor- tunity to post up the books. Note. It is the practice with many Jobbinsr houses to take notes of all their customers. Many of these notes are not wfo tiable, but are taken merely as evidence of debt. For thera a separate Bill-Book is kept, and they are uol posted to iii« account of Bills Rec. in the I^ger, but the sale remains to the debit of the individual as if he had given no uole, and \* nei any paymenu are made, they are passed to the credit of his account, being endorsed on the note as usuaL 240 DAY-BOOK, FORM 4. Philadelphia, January \8t, 1853. 1 L.F. 1 1 1 Merchandise To Sundries, 1 To J. 8. Pringle, Invested pr. Invoice; 565 15 1 2 4 *' R. N. Field, « « 436 24 1,001 39 ■■ ■ uih Interest To Laflin and Stephens, For Int. on H. C. Corbii's Note, No. 3, Rec'd of the;m this day, as pr. B..B., in part for Sales pr. S.-B. 48r i 2 H. C. Corbit To Sundries, 1 1 To Bills Receivable, For No. 3, now due, 500 (M^ f 2 " Interest, On the above, 5 25) 505 24 5 Sundries To Brown, Shipley & Co. 5 Leaf & Morrison, Manchester, For their Draft on B., S. fc Co., Liver- pool, ill payment for Mdse., as pr. invoice of Jan. 2d, rec'd this day, Amt. JE606, 13s. 8d. (@ 4 mos.) 2,696 37 1 Merchandise, B., s. fc Co.'s Com. 12 % 9 2 Shipping Charges at Liverpool. 12 4 Int. on Com. and Charges, 3 mos. 3 1 46 09' 2,742 £10 78. 5d. 01 o» 46 2 Expenses To Sundries, 1 3 To P. C. Mortley, One month's wages, 60 00! 6 1 « Sam'l Bartlett, « « « 30 00; 90 00 Merchandise To Sundries, Purchases this month, as pr. Inroicei and Oash-Book. 2 To Henry C. Corbit, Part Cash, Bal. Note, & 3 mos., 2d. 11,245 65; 4 •« Do. Do. ®3inos., 13th. •* See, Brother & Co., Note & 4 mos., 6th. 543 25| 11,788 95 1,545 5 «• Do. Do. Cash, 25ih *« Leaf & Morrison, Manchester, 20ih. 850 00 2,395 25 Invoice of Jan. 2tl, pr. " Thomas P. Cope." £606, 13s. 8d. 2,696 37 5 « Downer & Stewart, New York— Draft, 2l8t. 1,341 50 6 « C. W. Churchman, & 4 mos., 27ih. 2,563 75 6 «« 8. B. Rawley, Note od 3 mos., 29ih. 1,260 75 C.-B. " Cash Purchases, Walsh & Co., 3d. 225 00 C.-B. « Do. Do. Walsh & Co., nth. 5334I C.-B. « Do. Do. A. Clark, 13th. 545 50 C.-B. « Do. Do. Walsh A; Co., 15ih. 454 25 C.-B. " Do. Do. Duties pr. "Cope," aOth. 825 26 C.-B. « Do. Do. A. Clark, 25ih. 150 25 C.-B. «* Do. Do. Walters*; Co., « 125 50 C.-B. «* Do. Do. Eich.onNoteNo. 3, for goods pr.« Cope," 27th. 246 82 2,625 92 • V 24,672 49 'I'he Day-Book is used for recording such transactions as cannot properly be entered in either of the other \ voks of original entry. Its form is simple, and will be readily comprehended by those who have fawjUiT iifd tlnmselves with previous portions of the work. At the close of the month, it is also made the receptacle of purchases, which are treated as follows. Tfce receiving clerk examines the Invoice as the goods are received, and if he finds it correct, marks ii"Ex'd,'' signing hi8 initials to show who is responsible for its correctness. This being done, it is placed on file, or pasted iu a blank book prepared for the purpose, called an Invoice-Book. Purchases oh lime are supposed to be entered in the Day-Book from the original invoices, either as filed orpr«- served in the Invoice-Book, taking care to collect together all purchases fi-om the same person, that one poi«t only need be made to each individual's account for the month. *' Cash Purchases'' are taken from the Cash-Book, where they have been previotisly entered at the date of the occurrence of the transaction. They will be found in the Cash-Book, marked " D.-B." by looking along the Leger folio column. They must be marked " C.-B." in the Day-Book, and no other post made ' P- O- 0°^*" * Co. for Sales made them 4th inBt, less Di«. pr. contra, Cash Sales, Thtedaj, (i Interest Din. on Bills Pay. No. 2, pr. eontra, " Cash Sales, Thisday, «* Burgess & Walker, !■ P*rt for Sales, pr. 8.-B, ♦' Bills Receivable, in f^ll *>' Bl"o' * Bumap's Note, No. 1, due July 6th, leai Dis, pr. contra, Int Cr. " 27 " Cash Sales, " Do. Do. " Do. Do. «* Burgess & Walker, rage, Mar. 29tb, 1854.*- " Cash Sales, This day, / «< 29 S.-B. <( 30 4 S.-B. 2 1 1 Feb. 1 «( Interest, Discount on Bills Pay. No. S— Amt as pr. Contra, including Ezch., t2,989.28— from April 14th (time when our Pay't is considered Cash In England) to May 5th, (when Leaf k Morrison's Draft on Brown, Shipley k Co. matures,) " Cnshing & Brother, 1° ft»» *>' % d« July 20th, «« Cash Sales, Thisday, •♦ Bills Receivable, B«»'d pr- mail on Miles k Bans- ford's Note, No. 4, «' Cash Sales, Thisday, " T. W. Lakeman & Co., In full for Bal. of their ^, due pr. Average, Oct. 21st,* " Cash Sales, Thisday, Interest Credits this month, Bills Rec. •• " " Cash Debits " " To Balance Bro't down,. 80 90 B. RecCr. Cash Dr. 25 10 50 46 601 28 8,000 00 8,000 00 28 00 1625 16,04425 171 65 400 00 11900 689 :t5 80i»0 14 00 100 00 601,28 18,120 43 310 75 9 00 65 00 7124 257 25 ] 1 18,833:67 50 00 30000 150 63 87 12 66 86 400 00 536 29 2550 19,933 21 1,001 10 46 117,10 244150 400 00 1,036 44 I 91150 40'20 28 21,87841 4,61406 • In these averages grace is added to the sale, hut not to the Cash payment 242 CASH-BOOK, FORM 4. Cash. Cr. Date. L.F. 1853. ran. 2 " 3 «« 4 it " 9 " 11 «* 11 " 11 " 13 »« 14 «* 15 " 16 " 17 " 18 « 20 "21 By Henry C. Corbit, D.-B. *• Cash Purchases, ^ •« Expenses, 3 %/ D.-B, D.-B, 1 D.-B 8 >/ y/ D.-B. 5 " 21 ^ ** 26 D.-B. D.-B. 4 Paid in part for Purchasefs • • • Walsh ACo, Paid pr. Exp. C.-B. this week,* 8'275.50 18^290.62 15.12 J " 25 " 25 " 25 " 27 •* 27 *i 27 ".27 " 29 " 30 «« 81 81 D.-B. 6 >/ 1 x/ v/ 2 2 1 In Bankf In SafCj P. C. Mortley, On ^, Interest, Dificount 5 4^ on P. G. Collins k Co.'s Bill of 4th, as pr. contra, Bills Payable, In full for our Note No. 2, favor See, Brother k Co., due May 9th, less Discount pr. contra,- • • • Cash Purchases, Walsh A Co., Interest, Discount on Bills Rec No. 1, pr. contra,* Expenses, Pwd ?'• Exp- C.-B. this week, In Bank, 8>642.on InSa/c 64.21 r'®^^-^ Cash Purchases, A. Clark, J. S. Pringle, On ^, Cash Purchases, Walsh A Co, P. C. Mortley, On ^, Interest, Discount on B. A W.'s ^, as pr. contra, Expenses, P*»d pr. Exp. C.-B. this week, In Bank, 8,110.501 In Safe, 60.84 r'"^"^ Cash Purchases, Paid Duties, $805.70, and Freight, $19.56 on Mdse, pr. ship «T. P. Cope," from Liverpool, Downer & Stewart, Sent them this day, Benson A Co.'s Draft on Bicknell A Co, New York, Interest, Paid %% Prcm. on ahove Drafl^ Cash Purchases, A. Qark, Do. Do. WaltersACo, See, Brother & Co. Paid in fuU for Purchases this day, they allowing 3^ Discount, • Expenses, Paid pr. Exp. C.-B. this week, In Bank, 6'886.21) In Safe, 35.86/ ^'"^'^•"' Bills Payable, I*» ^^n for our Note No. 3, fiivor Brown A Bowen, due April 5th, £617, Is. Id, Cash Purchases, Exchange @ 9^ Prem. on above Note, Samuel Bartlett, On ^, Interest, Discount on C. A B.'6 o^ , pr. contra, R, N. Field, . On^, Interest, Discount on T, W. L. & Cc's ^ , pr. contra, • • • Expenses, Paid pr. Exp. C.-B. this week, By Balance, Expenses this month, pr. Exp. C.-B. S292.56, Interest Debits this month, BiUs Pay. " '* Cash Credits " In Bank, $4,517.70, In Safe, $96.35 it Int Dr. 8 4k 95 64 12 B. Pay. Dr. ' CM« Cr 68 40 03 37 72 \* ^ 1,545 25. 2,742 4,287 46' I.- 28«i;i '^ «,••-■■> 12 OU t 1.545 2.> 53 34 17|54 36^ ^^' 9,42421 I 545^50 17500 454,25 25,U0 5ll2 ss;25 10^6ttS» 1,841 SaO ll68 15025 125 50 i 85000 54Or1 24 00 150 6 ZtUx — 5 Wm. Chapman, (Note pr. B.-R Canton, O. 2 Ps. CoPd Poult de Soie 134 Aunes, 155 Yds. 75 116 25 15 « Pongee H'dk'fs. 3,50 52 50i 10 « Choppas Do. oq J 6,00 60 oo| 228 75 *o(x C-B. Cash Sales, 4 Ps. Crape de Laine Ail.U 114» Aunes, 142« Yds. 26 37 IS 3 Samuel C. Atkinson, 4 Ps. Blk. Satin Vesting 4 " Fig'd Gros de Nap. ti'tua. — Chestnut St 112' Metres, 121* Yds. 2,75 256 Aunes, 320 '* 72 334 230 12 40 62 564 • Discounted 5 ^fot cash 28 231 536 S9 •(./la C-B. Cash Sales, • L. M. Oviatt. 4 Ps. Col'd Marcelline 240 Aunes, 300 Yds. 46 144 ool C-B. 3 " Blk. Bombazine M m— 68 « 77» " 1,00 77 50 221 50 Cash Sales, B. Wesley. 4 Ps. Blk. Crape OQtVt — 23 00 «ola "^ 3 N. L. Lippincott & Co., Second St. 3 Ps. Blk. Silk Velvet 66 Aunes, TO Yds. 3,15 22050 2 " «« « Serge oofh 204 « 255 " 1.00 255 00 475 50 C-B. Cash Sales, <69lQ — E. Ely. 3 Ps. German Merino 133* Yds. 80 107'00| 4 " Col'd Fig'd Gros de Levant 243 Aunes, 310 « 1,00 310|00| 6 7 " « Marcelline 576 « 44 253 44 670 44 Aiken & Ransford, Seventh Su C-B. 2 Ps. Blk. French Satin u 112 Aunes, 140 Yds. 1,10 IM 00 Cash Sales, Binney & Co. 6 Ps. Col'd Fig'd Alpacca 165 Yds. 40 66 00| C-B. 1 " " Gros de Levant tt .»_ 60 Aunes, 75 « 1,00 75 00 141 00 Cash Sales, J. Emm. 5 Ps. Blk. Silk Vesting 0|c» 90 Aunes, 112« Yds. 2,00 225 00 OlSl 6 Welty & Martin, 15 Doz. Blk. Italian CravaU Broad St. Dot.!. t. 6. $12, 15, 18, 225 00 00 C-B. 2 lbs. Blue Blk. Italian Sewings 0S12 24 249 Utf Cash Sales, 6 Thibet Shawls « 6,70 40 21* or 1 1 Total month's Sales posted to Credit of Mdse. 1 I i 9.678 247 ^"^m '» J V BILL-BOOK, FORM 4. Bills No.of Note. When Rec'd. To Credit of whom. • Drawer. In whose favor. For what rec'd. Date of Note. 1 2 3 4 5 Jan. M a o v (A 9 O .a a V a a> > a o u 0^ > c s .c O c O a B a u o rtj3 « CL-d o a ^ t. ■ cd o 0) "^ M C/1 0; (0 So -•Wo; 52 £ o _. "^ " t- o « ^ p s .OJ «2 £ -i "^ ^^ £ S g OS u c6 t3 2 V O nS ctf o a a a> u u 73 V 0) t ^ fi " 3 E O E O CI. c « -£ - a B.p c -r J,! o rt -"305 B O .L C --fi i5<0_2 o i» "^ -S J= B _^ 3 *• *-• •"* <^ B a u ra CO (A U B • p^ (A 3 i2 3 o 3 CO V CO s B u I o o ►<5 CO o o I o I Ph b .o **^ .t; •- ^ u rt <« cd 0) jD «> u Cd <« Si •-« w^ O uT B . « TV ed B a (A S|&8|5fe = B^> M «^ » B •?. eS_«<«-??J3"2 52Sf?feB (SS. et cc CO j3 (=1 tie CO ns o %j-o A o cd t- 2 ^i 2 250 ??5?§J1S 7i>o r- 8tQ >!? 9 S 3 o> a r» *i i^ 5 ^ — • fO iw S ^ -r C9 00 I fe. s £ -^ (C 00 ^ S ,o ^ .2 t 5 _ =* •- u o = s w t. X ^ fc, •< I CO IS •5 ft, 3 .3 « _ e ctf V .5 . •< ' .s O- 1) be— - b - ;: I. I •3 fe 8 3 ! • • * ^ # e« ' X 7 -^ 5 « It '5 3;ai:j^2S5 « 5- C ?< "T -r 3 : 10 X u) • "' I'M S5??55?^5:? S 3 3 <-i rs i-i7« c fei^Mill f » *> «■ »-i -3 ^ :t *•• r o I « »<^C0 wr^ «H C3 t«^0 ?; • » « O O O »♦ -N J^ 71 3 ?5 «» 31 — -O « — -T S dD ~ O W Ik V) 34 XI t-O ^ 9 r- & F» — n ^4 «^ X w •• « 22!S2??8 ;S I 8§8S5^ o »^o oo P5> ^C4 5?5SS^82$ ^8 - s 8- ;:8*'- 3 '««H M to §11 II JAMES DUNLAP & CO. PEACTICAL FORM, No. 6. The main features of this form are taken from the practice of one of the largest commission houses in the city of Philadelphia. Great care has been bestowed upon its arrangement, to make it acceptable and useful to those for whom it is particularly intended, and it is confidently believed that commis- sion- and company speculating houses will find it better adaptefl in its general arrange- ment, and more accurate in detail, for their business, than any thing before in print. A mode of connecting wholesale merchandising with commission operations, is also illustrated, by which Sales for account of Merchandise are treated the same as Sales for account of a Consignor, A particular description of each book will be found immediately following it. Posts are made from the Cash-Book, Sales-Book, and Journal. DIRECTIONS FOR WRITING UP. Blanlb books have been prepared for this Form also. In writing up this Form, first take the Cash-Book, Sales-Book, Journal, Receiving- Book and Expense-Cash-Book, and make entries in them severally and successively m order of date, as explained in directions to Form 4. Having completed them all, (except the entry of 31st, "By Charges," on the credit side of Cash-Book, and the last entry in Journal — which you will leave for the present,) transfer the sales, as shown in your Sales-Book, to the different " Sales for account of* consignors in the Account-Sales-Book. This process is entirely similar to posting. Next enter, underneath each Account-Sales, the charges as found in the Receiving-Book — also the postage as supposed to come from the Postage-Book— and calculate for yourself the interest, commission, and guarantee. Then journalize the Account-Sales-Book, which will complete the Journal. Lastly, add together the items of interest in the several Account-Sales, and enter the total in the Cash-Book " By Charges" — also bring in the expenses from the Expense-Cash-Book. When the books have all been prepared, post the Sales-Book to the Sales-Leger ;* and then post all other entries from the Cash-Book and Journal, in order of date. NoTT.— Some prefer to have the Bill-Book prepared with twelve divisions, one for each month in the year, and marked vpoo th* 5uti'r edge of the lenves. similar tn the Alphabet of a Leger. Then, whenever a bill is to be entered, place it in that divi-ion aurlMd with the month in which it fall-! due. iJy thb arrangement, a ready reference can at all times be h.id for awertaining what bills CiL due iu any month, if more bills usually fall due in oue month than another, let the divLfion for that month be the UriresL • See remarks on Legers, page 26L £31 ? 1 Dr. CASH-BOOK, FORM 6. Cash, Notes and Interest. Date. 1853. Mar. ti t( ii (( u M a u M M M M I..F 1 ti t( 10 11 14 17 24 it if 29 u 30 31 1 1 1 4 Capital invpsted i< i< 4 5 v/ 4 4 v/ 4 Apr. tt ti it tt To J. Dunlap, " S. Robinson, " T. W. Welch, " B. Warner & Co., Their note for sales, due July 13th, No. 1, " E. Jones, His check on Phila. B*k for sales " J. Thompson, Rec'd for salet " J. Lapsley & Co., « *♦ " " Bills Recei>able, Rec'd in full for note No. 1, due July 1 3th, Ara't $1420 " J. Thompson, His note for sales, due Sept. 27th, No. 2, " Shepherd & Co., In full for ^, due July 15th, Am't 3,068 " Cash, Paid note No. 1 and Int, pr. contra, it Do., " « « 5 « M " J. Smith, For note in fiill for ^, due July 1 8th, No. 3, " B. Warner & Co., Their note for sales, due Aug. 3d, No. 4, 2 2 2 1 Interest debits this month Bills Rec, Bills Pay., Cash t« u tt t< u To Bal. from Old % Int. Dr. H. Rec. Dr. 26 1,420 57 14 4 27 7» 41) 6(^ B. Pay. Dr 00 607 00 103 20 2.474 219 72 83 4,721 55 3,621 1,860 69 04 5,487 Cash Dr. 3,000 00 3,000 00 3,06000 1,53575 2,06175 1,89525 1,393 73 3,010,22 73 18,89670 *6,518;52 CASH-BOOK, FORM 6. Cash, Notes and Interest. Cr. Date. L.F. Int. Cr. 1 B. Rec. Cr. B. Pay. Cr. CashCr. 165i. Mar. 5 1 By Charges, • Our bond for duties on Mdse., due Apr. 7th, with Int., No. 1, 3,621 69 u it 2 »* Levering &Bache, Bill of exchange on Barings & Co., London, for £900, Bo't of Clark & Co., and sent them this day 4,000<» it t« 1 " Merchandise, -J- Premium on the above bUl @9^ fo 370 00 tt 14 1 " Charges • Our bond for duties on Sharpless & Co.'8 cons'L, due Apr. 16th, with Int, No. 2, 1,866 04 (f 24 v/ " Cash and Int., Rec*d on note No. 1, pr. contra 1,420 00 it 25 2 " Sharpless & Co., Paid at sight their bill of exchange on us at 10 days' sight, S. C. Mor- ton's favor, for $3,000 6 50 2,993 50 k» 29 v/ " Bills Pay. and Int., Paid note No. 1, dat^^d 5th inst. 3,636 18 ti tt v/ »» Do. Do. «« « « 2, « 14th 1370 70 ii 31 1 " Charges, For am't of Int credited charges in Ac't-Soles rendered this day, pr.Ac't 8.-B. 5 89 t it 1 »* Do. Paid as pr. Expense C.-B., this month 345 30 M it 3 " Store Expenses, « « « « 162J50 M it it ti .*« 2 2 2 1 Interest credits this month Bills Rec. « " Bills Pay. " " Cash •* •« 12 39 00 Ti ( 1,420 M 5,487 i* 13,37818 M it By Balance on handf to New % 5,518 52 70 jl8396 1 . 1 r * 1 1 1 The object of entering notes and interest in this book, in preference to the Journal, ts twofold,— first, they are most frequently connected with cash entries, and second, in this book we are enabled, by appropriating a set of columns for all cash, bills and interest entries, to post in weekly or monthly totals to these accounts, while the other accounts which balance these columns are posted daily, or as often as we choose. When either Cash, Bills Payable, Bills Receivable, or Interest are debtor and some ot them also creditor in the same transaction, the entry may be made on botk sides ot the book, for the purpose of bringing into columns all the sums entered to these accounts— as seen in entries of 24th and 29th. Then, in posting the individual /terns of the book those accounts found debited or credited, which have columns appropriated for them, must be checked and passed over. , . , ^ ^ x. ^ i ** The footing of each of the several columns this month is the amount to be posted .« 252 the debit or credit of the account shown by the heading; but the footing of the " Cash debit" column of the next month will be too large by the amount of the balance brought down, which sum will need to be deducted from it to obtain the amount for postino". The entries from the Expense-Cash-Book may be made at any time ; and the cash account then proved by footing up the cash columns, and minuting opposite the footings their difference, or the balance on hand, after the manner shown in Cash-Book, Form 4. Those who prefer to do so, can substitute the Cash-Book of Form 4, instead of this ; or may use a simple one column Cash-Book, and enter bills and interest in the Journal. * By law of Aagntt, 1842, duties are required to be paid In casli, bat these bonds with interest are tntrodoced here to soow » Taripty of entries. t This premium is pasted to the debit of Merchandise, because the sum paid is strictly a part of ths cost •f goods purchMC^ of '«»eriug k. Bache. . 253 Ll^; SALES-BOOK, FORM 6. Philadelphia, March 3d, 1853. gnrr 4 4 4 ^/ v/ v/ v/ v/ 4 4 4 v/ Coniignor. C. D. (I P. K. n. John Smith, B 476 1 Caae Prints, B 466 anJ 468. 2 Bales Drillings, c 111 and 112. 2 " Tickings, c 113 and 114. 2 « Extra Do., Market St. 8 m. 1,000 Yds. ® 10 900 " « 12 900 " « n 850 " •» 20 E.D.&O. u p. K. 4tb^ 100 00 108,00 15300 no'oo! C. D. Coaies St. 1 Case Satinets, 1 « Do., 1 « Cassimeres, 1 " Ribb'd Do., c 115 and 116. 2 Bales Tickings, c 117 and 120. 2 « Do., B 467 1 " Check Cottons, E. Jones, E 210 E 208 E211 E 212 6 m. 600 Yds. ® 70 6th E.D.&O. CD. (( M. 4i (( « A. Edwards & Co., E 209 1 Case Satinets, D .')32and533. 2 Bales Check Cottons, T> 526 and 529. 2 <6>81 2 u 2 <;^84 4 a 5 Race St. Drillings, Ps. Fine Blk. Cassimeres, Extra Fine Bl'k. Do., Super W. D. Blk. Cloths, Fine Blue Blk. Do., u u tt 8th M. u (4 John Smith, t86 7 81 4 <^82 4 <^83 2 CD. (C E.D.&0. Market St. Ps. Assorted Brown Cloths, »« Extra Blk. Cassimeres, Oxford Miird Do., MUrd Drab Do., (I M _10th B. Warner & Co., Arch St B 469 and 470. 2 Cases Extra Fine Prints, D 525 and 528. 2 « Ginghams, E 201 and 202. 2 « Satinets, _llth Af. C( E. Jones, <$>87 M M 5 2 2 3 Coates St Ps. Blue Cloths, « Extra Blue Cloths, « Light Mix'd Do., « Dark " Do., 254 720 « «« 65 500 (( « 1,00 600 (( "1,25 900 u " 15 800 u « 16 600 a « 12 6 m. 660 Yds. 70 900 « 950 " 80 « 80 « 93 « 120 " « 10 « 10 fi 2,50 " 2,75 « 9,25 « 7,50 42000 468:00i 500,00i G25 00i 135l00| 12800; 72I00' 3 m. 175 Yds. @ 4,75 160 « " 2,75 152 « « 2,32 84 « «* 2,30 Note ^ 4 m. 2,000 Yds. 14 1,800 « '♦ 20 1,200 " " 65 Check on Bank. 125 Yds. 5,25 60 « « 6,00 60 " " 4,76 72 « « 4,75 Ain*t forward 385 00 9o;ooi 95|00: 200;00| 220 00 85100; 90000 831 440 2o 00 35264; 193 20 280|00i 360|00 78000 656 300 237 342 53100 2,348 25 00 50' 00 00 2,741 '00 1,817 09 1,42000 1,535 iJ I0,392i84 SALES-BOOK, FORM 6. Philadelphia, March 12/A, 1853. fi. L. F. Consignor. 10,392 84 4 Shepherd & Co., Chestnut St. 4 m. s/ E.D.&0. E 204 and 205. 2 Cases Cassimeres, 800 Yds. o 1,50 1200 OOj x/ <( E 203 1 « Do., 400 « « 1,25 50000, y/ M. 85 4 Ps. Blk. Cloths, 100 « « 6,00 600 00 v/ (( <^ 88 8 « Victoria Do., 14th 192 « « 4,00 768 00 3,068 00 4 J. Thompson, Fourth St Cash. x/ S. & Co. n 26 6 Ps. Assorted Green Cloths, 150 Yds. 4,75 712 50 y/ (( « 6 « " Brown Do., 126 « «* 5,30 693 00 v/ (( « 5 « « Blue Do., 15th 125 « « 5,25 656 25 2,061 iO 5 Bonnard & Bates, Filbert St 6 m. v/ E.D.&0. E 206 1 Case Satinets, 425 Yds. a 72 306 00 s/ n E207 1 « Do. 17th 450 « « 50 225 00 531 00 5 J. Lapsley & Co., Second St v/ M. ^89 3 Ps. Superfine Inv. Green Cloths, 75 Yds. 7,50 562 50 s/ S. & Co. Z\ 28 2 « «• Olive Brown Do., 48 « « 7,50 360 00 v/ • " « 2 a a Blue Do., 48 « « 7,50 360 00 %/ (( « 6 « Victoria Do., 150 « « 4,75 712 oOj * 1995 00 Discount i 3 ^ for cash 99 75 1,895 25 lQf}i 6 m. 5 Smith & Williams, Broad St v/ M. ^89 6 Ps. Fine Drab Cloths, QOth ISOYds. 3,75 562 50 4 A. Edwards & Co., Race St 6 m. >/ S. & Co. a 27 5 Ps. Black Cloths, 125 Yds. i^ 0,75 843 lb (( " 4 « Extra Fine Blk. Cloths, ?4th 96 «' « 9,25 888 00 1,731 75 4 J. Thompson, Fourth St Note 6 m. %/ C D. D 521 and 522. 2 Bales Drillings, 950 Yds. 10 95 00 x/ <( D 534 1 Case Ginghams, 925 « « 16 148 oo y/ (( B 475 1 « Fine Prints, 1,025 « « 12 123 00 v/ P. K. c 125 1 Bale Tickings, 475 «« « 16 76 00 v/ (C c 119 I « Do., , 1 500 « « 15 75 00] ^ (( c 124 1 « Extra Do., 450 « « 20 90 • 00 607 00 4 Bonnard & Bates, Filbert St 6 m. V S. & Co. □ 28 2 Ps. Superfine Inv. Green Cloths , 48 Yds. & 7,50 360 00 v/ (C « 3 « Victoria Do., 75 « « 4,75 356 25 v/ (( n 29 e « Extra F. Blk. (Cassimeres, 230 « X 2,50 590 00 %/ (( « 3« DrabMill'd Do, 118 « "2,00 Am't forwar'J 236'00 1,542 25 22,392 34 \ 255 .\'i^.-.i!^.)i. SALES-BOOK, FORM 6. Philadelphia, March 21th, 1853. B.L.F. t Ck)niif nor. 'i I 4 y< %/ CD. x/ (( 6 v^ s. &c V cc cc John Smith, Market St. B 472 1 Bale Check CoUont, B 474 1 M Drillings, 6 m. 650 Yds. & U 62ft M « 10^ .29th. 4 5 CD. it Smith & Williams, Broad 8t Q 27 6 P". Blue Blk. Clotha, □ 29 3 « Oxford Mill'd CaMimerw, M 2mm MixM Dw ..^L^. -^ '. 1 Date. 1853. Mar (( «4 It it M k( •t it ACCOUNT-SALES Sales for aeemnt of E. Dicksm andOwrsdm^J^^RJ Time To whom sold. E. Jones Do. Do. Do. „ A. Edwards & Co. 10 B.Warner&Co.(Note) 12 Shepherd & Co. Do. ti Bonnard & Bates Do. 6 m. it t( it 4 m. (C 6 m. (i Mark E (4 (t it M it U it (t it No. DescriptioQ of goods. Yds. 210 208 211 212 209 701 SM 904 Mi, 203 1 Case Satinets 206 1207 1 1 1 1 2 2 1 u t( t( (( i( (( Do. Cassimeres RibbM Do. Satinets Do. Cassimeres Do. 1 1 GOO 720 500 600 550 1,200 800 400 425 450 70 65 1,00 1,25 70 65 1,501 1,25| 72 5ri 420 00 468'00 TolaL 500 625 00 00 1200 500 E. E. Philadelphia, March 3l8/, 1853. Satinets Do. Charges, Ins. 121,64, Fr't $21,60, Dray. $1,00 Int. on $44,24 from Mar. 3d Postage ..,...• Com. and Guarantee at 5 % Net proceeds, due Aug. 19-22 E.D's ^$2,546,58,Our i$2,546,5B; 30(i 225 00 00 00 00 2,013|00 385'00 7«0|00 1,70000 531 4421 21 94 27045^ 5,409 00 00 31584 5,093|16 J. PUNLAP & Co. Sales for account of^^mhandise^ Date. 1853. Mar 4( a It u i( U ♦« t« »t I* To whom soH. Time 6 ti tt it 8 tt it »f 11 I" it it 12 it In A. Edwards & Co. Do. Do. Do. John Smith Do. Do. Do. E. Jones (Check) Do. Do. Do. " 6 m. it it u 3 m. it it Mark Shepherd & Co. Do. J. Lapsley & Co. Smith & Williams A- 4 m. it tt it it it it it it if it it it tt it tt No. Description of goods. | Yds 81 it ,84 tt 88 81 82 83 87 it it tt 85 88 89 2Ps. Fine Blk. Cass. 2"Ex.F.Blk. Do. 4 " Su.W.D. Blk. Cloths 5 « FineBlueBlk.Do. 7 " As'd. Brown Do. 4 " Extra Blk. Cass. 4" Oxford Miird Do. 2 " Mill'd Drab Do. 5 " Blue Cloths 2 " Extra Blue Do. 2 " Light Mix'd Do. 3 " Dark Do. Do. 4 " Black 8" Victoria Do. Do. 150 3,75^ 3 " Su.Inv.GreonDo. Dis. 5 ^ for cash 6 m. " 89 6 Ps.FineDrabClothfi Charges. Duties, $3,621,69, Ins. $135,81 ! Freight, $65,34, Drayage, S0,75 Com. and Guarantee at 5 J^ Net proceeds March 31*/, 1853^ ' ACCOUNT-SALES-BOOK, FORM 6. Saks for account of Sharpkss 8f Co. Date. 1868. Mar. «t tt *i tt it 14 it it 17 it it To whom sold. 44 M S - 00 OJ --2 U CO CO ^ g^ -^ to :s w 3 -^ e ayment the ch w bO f^-a •g 8 ^^ 0) =* *S CO ^ ^ fl ^-S a> r^ O 0) •^5 bCe» o &c., to -Sales i (0 •{^ '-'% a< o e S ^ o -c.S -5 o •<-- "^ 3 < o ^ - s ks, n n an br) •» 22 fc. o O "^ be o bc-S •** C ^ 'K « V c c fl ■5 ^. o g -. ^ ¥- O -" e« d ^E» ^8 Wi-^ «2 5 e* CO en •»4 ecei and ^4 .-- y) •5 g o tb O »^ n> •^* _ CO V ^ •-* ^H 1^^ C 3 « rt Si time a es, ins 2^ S-F-^ a> £3 ^ 13 2> ^ S ^^ The • duti EXPENSE CASH-BOOK, FORM 6. B=C Date. Mar. t* OJ '^ ^ 1 3 5 5 6 12 14 25 31 (( « Paid Insurance and Freight on Cons't. of C. Duncan « (( (( (( C( (C (( (C Do. Do. Do. for Stationery " 2 Tons Coal Do. Do. Do. Do. " " " P. Kelly " " « E. Dickson " " " C. Duncan " Merchandise Grigg & Elliott J. West Freight on Sharpless & Go's Cons't. for Gas light J. Bingham one month's wages Saml. Ball " " Philip Frazer « « P. W. McGregor for drayage this month Postage for sundry persons, pr. Postage Book, this mo. Do. " our own % " " " " " Ent'd on main Cash-Book, foUo 1 65,00 40,00 15,00 Store Exp*i 12 9 18 120 162 50 00 75 00 25 50 ChargeiL 3067 8^64 4324 22 201 2904 37 15 345 50 469 30 In this book are entered the petty expenses for store, and the petty charges paid for consignors, each in a column appropriated for that purpose ; and the totals of these columns are taken to the main Cash-Book, whenever a trisd of the cash account is to be made. INYENTOHY-BOOK, FORM 6. #81. « #82. C( #83. " #84. " #85. " #86. " #87. « #88. " #89. Merchandise on hand March 31st, 1853. 6 Ps. Fine Blk. Cassimeres 3 7 1 3 3 5 2 2 4 7 7 2 2 2 5 5 " Oxford MiU'd " Mix'd Drab Mill'd Fine Blue " " Mill'd " Assorted Col'd « Super W. D. Blk. Cloths Do. C( « Do. Do. Do. Do. Do. Do. " Fine Blue Blk. " Black " Assorted Green " Brown Light Mix'd Dark " Victoria (( C( (( Superfine Drab Do. Do. Do. Do. Do. Do. Do. Do. Add 50 fo for Freight, Charges, 263 240 Yds. @ $1,24 114 « 1,24 266 ' 1,00 42 ' 1,22 126 ' 1,22 126 < 1,22 212 ' 1,11 46 ' 5,00 48 * 4,00 i 100 « 3,00 175 < 3,00 175 « 3,00 1 50 * 2,50 48 « 2,50 48 « 2,00 120 ' 2,78 120 ' 3,00 les and Exc hange 29760 141J36 26600 5124 15372 15372 235 32 230i00 192 00 30000 52500 5-2500 12500 120 00 9600 33360 360|00 4,105 56 2,052 78 1116,158^4 262 INVOICE-BOOK, FORM 6. Invoice of Cloths and CassimereSj shipped per Saranak^ Turley^ bound to Philadehhia^ on ac't and risk of James thmlap Sf Co.^ Merchants there, and to them consigned^ pursuant to their order. <8>#81. " #82. " #83. " #84. " #85. " #86. " #87. " #88. « #89. 6Ps 8 7 7 3 3 3 5 6 7 8 7 7 7 5 2 4 5 10 5 3 6 5 Extra Fine Blk. Cassimeres Fine Blk. Do. Oxford MillM Do. « Mix'd Do. MillM Drab Do. Fine Blue Do. " " MilPd Do. Assorted CoPd Do. Super W. D. Blk. Cloths Do. Do. Do. Do. Do. Do. Do. Do. Do. Do. Do. Superfine Inv. Green Do. Drab Do. Superfine Drab Do. Fine Blue Blk. Black Assorted Green " Brown Blue Extra Blue Light Mix'd Dark " Victoria (C Liverpool, Feb. 12th, 1858. £ $. d. 240 Yds. @ 65. 9d, 81 320 " * * 5 7 89 6 8 266 " « * 5 7 74 5 2 266 " * * 4 6 59 17 126 " * « 5 6 34 13 126 " < « 5 6 34 13 126 " « * 5 6 34 13 212 " ' « 5 53 138 « « * 22 6 155 5 168 « « ' 18 151 4 200 " * * 13 6 135 175 " * * 13 6 118 2 6 175 " ' ' 13 6 118 2 6 175 " < ' 11 3 98 8 9 i 125 « < * 12 6 78 2 6 50 " ' « 14 8 36 13 4 100 " * * 11 3 56 5 120 " « ' 11 3 67 10 240 « « * 9 108 120 " < ' 12 6 75 75 " < ' 18 67 10 150 " « ' 8 4 62 10 120 « « * 13 6 81 1,870 1 5 3 and Drayage 2 10 Ul,872 11 5 (Signed) Loyering & Bache. Not*. — The Inventory on the preceding page is that portiofn of the above Invoice that remains unsold, room the other Invoices are omitted. To save FORM OF A CONTINUED TRIAL BALANCE. On the opposite page is given a form for a Continued Trial Balance of the Leger, in which the differences only of the accounts are entered. It will be found of great service in enabling the heads of an establishment to see at a glance the standing of the account of any mdividual, or of any species of property, and to compare it with the former position of that account. This sheet may be made out monthly, or once in two or three months, at discretion, and it would be well to have a book ruled for the specific purpose. 264 O XI O < >* ^ o o S o 21 o o 00 00 CO lO CO- — — O 00 00 o» ""©■i c 00 CO Oi CO o © 04 © o» 2 m Oi 00 •V © I* >o 00 ^ 00 I^ lO © © • s 3 o> « M CO "^ »o © m • i:: . "^ s o T* o — lO o o "^ ■» Oi • o CO oc t^ to c« m • • • 3» •o (O o Tj« o cc t< c< CO c^ in © • tfi . to t"- • « . o t^ to • r* © • • • 00 • o lia «o CJ t* *H O -^ 00 o 00 aa © fi • w • •* CO . . ^ CO • to • • • CO • o eo ^- ® • {> . CO ta CO O 00 00 r* o 9 f* CO ' ^ eo o © « • 1-^ • 00 in l-< i^ e« © © 04 ■^ 00 to . Oi • © > • • w^ . • O Oi © • © w I-H iQ t* •^ in ^- m . o» • w • « « • ^^ > • • . . CO '«*« m • © • >> m eo • s? . «o. ■»t . ^ ir. ) in — o in . "^ 1 i^ l«- 00 tQ • CO • b- t^ © c< N * • I* 1 .— • eo CO •^ cs ct c^ c>* CO W t* ■^ • » • o t^ • a . 02 t^ to • t* lO • © © • b- 00 r^ C4 00 T^ 00 o •fl" © ^- O • cf • t«r CO • . e« eo • f* . . . ^ © • _w_ o . "^ . • © • T). © eo o © © • • • 00 CO 1— < t^ c* w © CO o 00 • "2! * . o> • © o> . . f* . . © 05 © n •«« »a t*. © •Vf © t^ © • o> • ml • . « • ^H « . . . . ©« "^ CO • o. 04 . l^ . °D CO . <» 00 "ifT-^ . o "ifS" ~©~ — ~ao' < o -* • N ■ A t* CO • © w •«* © • . • CO ta eo e* e» o eo on m • c* • •* CO • t^ 05 r^ CO • Ti< r^ c? . . at k 00 CO CO T«« © Tj* CO CO o 00 © a ""^ • CO ■^ . • w « • r»< l-H r-< . . CO . • • o . '^ . © O c< CO Si k. o • c* • © • ^ © CO • • CO o CO CO 1-^ t^ « C4 m . . • • • 00 • t* • • o • © Oi . • • r^ . . • C4 (M ei »o © >* o JS o> • wt . • w • CO 94 . • • . . . o . • ^ (9 « . o . «o »o . ^ CO o -^ . <'> in n a ki eo c» t* • c* ' * © t* © • a. Dt m CO . . • • .- « *n o o © © « *♦ M CO © m • Ct • TS* ©* • © • . %n t^ CO • 00 »>• CO 04 • 00 I— « w •^ *o tJ* CO O) o O) o •k a: • • N (O • C4 C* • « wH © • • • • • • • • £» • SS -^ • 2 • 00 © • • • i • » CO © . w 00 CO e^ r-* l^ N N 00 • to • c» • Oi • 00 O) • • • 00 • m CO , M a» CO iO © CO ■^ w o> • • •* N • CO w • • • . • eo 3 c< • • CO . »o . o . ^ *ti m ^ © lO ~eo^ £ . to • « • o ' t^ ' © t» © • o c» o» • • • • • • f)l N iO Oi w w c» 00 eo o • N c< • 00 c* i>- © • Tj« r- CO • W c« p'^ l-H CO Tf< CO CO o rp Q • N • CO • CO •^ ©« • « « CO • • • • • O . CO . H« « . lO to CO eo k. o • -. • o * © • w « o Oi U 00 t^ ©» 1— • t^ »o c* eo • • • • • 00 • 00 • c« • o» • © 0> 00 • . . eo • «1 t* CO lO © t«- CO 00 k. B C o> • • "^J" • N • .-4 • . • 1-H . . . - • • • • • . "^ 1—1 »o 00 o lO o eo C3 • © •'* • »o • — •fl r^ ko ' CO . « . • • • • • . 00 t^ , rm ^* 04 f- o • ft • »o • © • © . . . © eo • lO I-< eo -* t-< Tt< t* 00 Q • « • •* • eo . . » ^ -^ • • • • • • • • • • • • . . • • • . . . . • • • • • . . • . . • • • 6 Stock , . Cash Charges and Com. Merchandise . Lovering & Banhe Bills Receivable Sharpless & Co. Prem. Int. and Dis. Chas. Duncan Peter Kelly . Mdse. Co. R. . Store Expenses A. Edwards & Co. Smith & Williams Profit and Loss E. Jones Bonnard & Bates . O 'ii w o > o u Oh • Eh Bills Payable J. &. G. Henderson Manning & Lord . Oviatt & Clark o n O -« -^ lO N »« CO CO CO 1— 1 t* o> I* 00 o ^ © w eo S4 in 04 ^ © t^ CJ o eo 1 — - — • 265 t ' FORM OF A RECErV^ING AND FORWARDING BOOK. Nashvilk, Tenn., 1853. How Received. Talleyrand I'r. N. Orleans Cumberland fr. Smithland Date Rec'd. Apr. 15. Apr. 22. For whose ac't. Jas. Swanson, Williamson Co. Saml. Walker, Columbia,Tenn. I No. of Pk'gs 10 11 WeigbU 5000 Char 3000 Char Rate. 50 ges. 25 ges. Freight, Storage. 2500 25 00 7 10 50 00 00 00 Drayagc. 25 75 Total. 5625 21 25 Leger Folio. 300 600 When the receiving and forwarding operations of a house are confined to regular cus- tomers, with whom the house has running accounts, it will be found convenient to post directly from this book to the Leger — the amounts extended in the total column being posted to the debit of the individuals for whose ac't received, and the footings of the Freight, Storage and Drayage columns being posted monthly to the credit of their re- spective accounts. The footing of the Freight column, taken to the credit of that account, should equal the amount previously debited the same account for freight and charges paid on goods when received. When a cash business is done, this book will be used only as a register of particulars in relation to goods received, and no posts will be made from it. The postings will come through the medium of the Cash-Book. FORM OF A RECEIVING BOOK. Philadelphia, May 2nd, 1853. Shippers. Marks. Consignees. Articles. Weight 3175 Rate. 1,25 Chnrpes. Am't. Hoffman & Co. H &c. P. Camden Pittsburg 8 Boxes Dry Goods ^M 60 61 6i 66 67 P8 70 30&-|-6«X)4-4i5>4-'*'O+ 460+ JjO-f-iiO-f-^'^ = 1 38 41 07 A.Swain & Co. To So Park & Selden 2 Crates Crockery *^,^ 1145 87" 75 10 77 Cincinnati 2 Bo.xes Hardware *^4^_ 925 87» 50 8 59 FORM OF A FORWARDING BOOK. Philadelphia^ May 3c?, 1853. Mark. S'oSo Conti^ees. P. Camden Park & Selden Article*. Weight 8 Boxes 3004- 600+ 400+ 500-f 450-f 350-f-250-f 325= 3 1 7 5 2 Crates 5204-625 1145 2 Boxes 450 4-475 I* 925 John Morris, Conductor, Cars No. 200, 520, 315, 626. The last two Forms are for houses which have regular transportation lines owned in connection with them. In the Receiving-Book are mentioned all the particulars concerning goods received ; and when goods are forwarded the weights and marks are taken down in the Forwarding- Book, also the numbers of the cars in which sent, and the name of the conductor who takes charge of them. Then, by comparison with the Receiving-Book, it can be seen whether the "v^eights, &c., agree, and whether the goods of any consignee are all sent. NoTB.^ — The examples given suppose the transportation line to be care, but if it were boats, the Fomu would Answer equally welL , 266 COMMERCIAL CALCULATIOiYS: OR, MERCANTILE AEITHMETIC. 267 li- V. I \ COMMERCIAL CALCULATIONS. INTEREST. Interest is a premium or per-centage paid by the borrower to the lender for the use of money lent. There are several methods of calculating mterest, of which we give the foUowing. I. To OBTAIN THE INTEREST, WHEN THE PRINCIPAL, TIME, AND RATE PER CENT. ARE GIVEN. < Rule I. Multiply the principal by the rate per cent, per annum, and ait of two figures in the pro- duct, as decimals : t/ie result will be the interest for one year. Multiply this interest by the nuniber of years in the given time, and take aliquot parts for the months and days. Rule II. Express the time given as the fractional part of a year. Multiply this fraction by the rate per cent, per annum, and the principal by the product obtained, and in the last product point of two decimal places. Rule III. 1st. When the interest is at 6 per cent, per annum. Multiply the principal by one-half the number of months in the given time, and point of two places as decimals in the product. If the given time be days, multiply tlie principal by one-sixth the number of days, and in the product point of three decimals. 2d. To find the interest at any rate per cent. Obtain the interest at 6 per cent., as above, and take aliquot parts of the same for the required interest : — thus, if the rate per cent, be 5, deduct one-sixth from the interest found at 6 per cent. — i/*4, deduct one-third — ifl, add one-sixth — if 9, add (me-half; and so on. I^'ote.— In workin>5 by rules II. and III., if the time consists of b^tth' months and days, get the mterest for each ■eparately, and add the amounts together to obtain the whole interest. Examples, 1. What is the Int. on $2,954 for 3 months, 10 days, at 6 pr. ct. } By rule I. 29&4 6 3mos. are 1 of y'r 4)177,24 lOd's are » of 3mos. 9)44,31 4,92 Ans. ^19,23^ By rule II. 3 mos. are -^ or | of a y *r, and 10 d's are -^^^ or ^V o^ * y'r, then ^X6=15 x2954=44,31 Int.3mos. .yVx6=ix2954=_4^ Do.lOd's Ans. $40,2:H "268 By rule III. ^ of 3 mos. is 1^, and i of 10 d's is If then 2954 X H =44,31 Int. 3 tnos. 2954x18== 4,92,3^ Do. 10 dV Ans. $49,23,:!^ COMMERCIAL CALCULATIONS. 2. What is the Int. on $3,670 from Mar. 1st, 1852, to July 11th, 1853, at 7 pr. ct ? By rule I. 3670 7 3)256,90 Int. 1 y'r 12) 85,6:^ « 4 mo§. 7,13-,^ " 10 d's $349,6611 Ans. By rule II. 1853, 7, II 1852, 3, 1 1 y*r 4 m. 10 d's time. 1^X7=9^X3670=342,531 Int. 16m. ^'yX7=JVx3670= 7,KHi » 10 d's Ans. $349,66-1-1 By rule HI. 3670x8=293,60 Int. at 6 pr. ct 16 mos. 3670xl|= 6,ll,6|Int.at6pr ct., 10 d's. 6)299,71,6| wholelnL it 6 pr. ct. Add j- 49,95,2|f Ans. $349,66,9^ 3. What will be the Int. for 7 months, at 9 pr. ct., on $6,745,52 6745,52x9=607,09,68 2 )607.09.68 Int. 1 y'r 6)303,54,84 « 6 mos. 50,59,14 " 1 " $354,13-rV7 Ans. ^7^x9=ff or 51, and 5ix6745,52=$354,13^V Ans. 6745,52x3^=236,09,32 Int. at Opr.cu Add ^ 118,04,66 Ans. 354,13^V 4. What Int. will accrue on $2,184,25 for 210 days, at 12 pr. ct. .? 2184,25x12=262,11,00 2) 262,11 Int. 1 y'r 6)131,05,5 " 180 d's 21,84,25 » 30 d's $152,89pV^ Ans. * By rule II. at 365 d's to a y'r. Ibt or ^|xl2=VVx2184,25= $150,80ff Ans. By rule II. at 360 d's to a y'r. ih^ or 1^x12=7x2184,25= $152,89T-V?r Ans. 2184,25x35=76,44,875 Int at 6pr.ct. 2x $152,89-pV/t Ans. Note. — Add the principal and interest together to obtain the amount. 5. What Amount will be due Sept. 1st, 1858, on a Note of $16,844, at 8 pr. ct Int. ^iven Mar. 1st, 1852 .J* 16844x8=1347,52 2)1347,52 Int. 1 y'r 673,76 " 6 mos. 2021,28 whole Int. 10844,00 principal $18865,28 Ans. 1853, 1852, 9, 3, 1 1 1 y'r 6 m. d's time. 1^x8=12x16844=2021,28 Int. Add principal 16844,00 $18865,28 Ans. 16844x9=1515,96Int.at6pr ct 505,32 Add | 2021,28 Int.at8prct 16844,00 Add princM $18865,28 Ans. • AH short methods of computing Interest for days assume 380 days as the year ; makinG^ the calculation at so much per ^r 960 dayf ; and on account of the ease of this mode, it is adopted almost exclusively, although 365 days is the leiral year. ahove example is sufficient to show the diiference in the two modes. A» custom makes law, tbey will probably not long •pposed to each other. 269 COMMERCIAL CALCULATIONS. n. The principal, interest, and time being given, to find the rate per cent. Rule. Obtain the interest on the principal at 1 per cent, for the time given, and divide tht interest given by the interest obtained : the quotient mil be the rate per cent, required. Ex. D is worth $30,000. At what per cent, must he loan his capital that his income may be just $1,500 per annum? Int. on $30,000 one year @ 1 pr. ct. is $300. Then 1500-^-300=5 pr. ct. Ans. III. The principal, interest, and rate per cent, given, to find the time. Rule. Obtain the interest on the principal for one year, month, (yr day, and divide the given interest by tlie interest obtained : the quotient will be tlie time sought, either in years, months, or days. Ex. 1. In what time will $2,400 gain $360 Int., at 6 pr. ct. } Int. on $2400 one year at 6 pr. ct. is $144. Then 360— 144= 2 J years. Ans. Ex. 2. How long must $1 ,000 be on Int. at 6 pr. ct. to gain $6,90 ? Int. on $1000 one day at 6 pr. ct. is $0,16J. Then 6,90--0,16f, or 20,70 -^0,50= 4 1| days. Ans. IV. The time, interest, and rate per cent, given, to find the principal. Rule. Obtain the interest of one dollar for the given rate and time, and divide the given interest by the interest obtained; and the quotie)it will be the principal. Ex. What principal is required to gain $147 Int. in three years and a half, at 7 pr. ct. ? Int. on $1 for 3^ y'rs at 7 pr. ct. is $0,24,5. Then 147,00-0,24,5= $600. Ans. ■1 DISCOUNT. Discount is such an abatement on a note, bond, bill, or book account, ihat the interest on the remainder for the same length of time for which the discount is made, arid at thp. same rate per cent., will equal the discount. It is ascertained by the following Rule. Obtain the interest on $100 at the given rate and time ; multiply the gi'^<^ ^Uiti hy this interest, and divide the product by the amount of $100 at the same rate und time: the quotient will be tJie discowd. The PRESENT WORTH is (Stained by deducting the discount from the given sitm, or cmotint, Ex. 1. What is, the discount on $6,000, at 6 pr. ct., for 90 days. Int. of $100 @ 6 pr. ct. for 90 days is $1,50. Am't " " " " " " ^' " $101,50. Then 6000 x 1,50=9000,00- 101, 50= $88,66|g 4. Ans. Ex. 2. What is the present worth of $1,675,50, due 2 years hence, disc^.unt at 9 pr. ci '' Int. on $100, for 2 y'rs, @ 9 pr. ct. is $18. 1675,50x I8=30159,00--118=255,58f| discount. Am't 1675,50 Less discount 255,58-51 $1419,91^^. Ans. 270 COMMERCIAL CALCULATIONS. BANK DISCOUNT. Bank thscount, or interest paid beforehand, is calculated in the same manner as interest. Banks now generally include in their reckoning both the day when the note is discounted aiid tlie day on which the time specified in it expires, which, with three days of ^ace, makes the time for which discount is taken^owr days more than the time specified in the note. Ex. What is the bank discount, at 6 pr. ct., on a note for $1,200, payable sixty daj-s hence ^ 60 -f 4=64 days, time for which discount must be reckoned, i of 64= 10|x 1200= 12,80,0. $12,80. Ans. DISCOUNT ON BILLS AND INVOICES. Merchants are in the habit of deducting a certain per-centage from invoices and biUs of goods sold for ready pay. This is reckoned in the same manner as interest. Ex. 1. A. purchases a bill of goods of B., amounting to $756, at a year's credit, but B offers to deduct 10 pr. ct. for ready pay. What amount is to be deducted ? ^ 756x10 = $75,6 0. Ans. Ex. 2. A. sells B. a bill of goods for $1,200, and allows him 5 pr. ct. for ready pay What amount must A. receive ? 1200 X 5=60,00 discount. 1200— 60=$1140. Ans. Ex. 3. B. purchases of A. goods amounting to $1,800, and is to be allowed a deduc- tion of 5 pr. ct. for Cash. But finding himself short of funds, pays $1,140, for which he . is to receive a discount off the bill, in the same proportion as if he had paid the whole For what Am't should he receive credit ? It is evident that he should be credited for such a sum, that, after making the 5 pr. ct discount therefi-om, the remainder will be $1,140. Therefore 95 : 100 : : 1140 : the answer or, 1140 X 100=114000 -T-95 =$1200 . Ans. Note. — This will be seen to be the correct answer, by comparison with Ex. 2 : for in that Ex. $1,2C0, Ae Am't of the bill, was considered as cancelled by the payment of §1,140. A very common way of worlying examples of this kind is as follows : 1 1 40 X 5=57,00+ 1 140=$1,197, Am't to be credited. But this is evidently incorrect ; fat if $1,140 pays the whole debt in Ex. 2, then in this Ex. ^1,140 should pay an equivalent sum. By discounting off the face of bills, losses are frequently sustained ^vithout suspecting it. This arises from the fact that the discount is not only made on the first cost of the goods but also on the gains. For instance, if a profit of 30 pr. ct. be made on any article of merchandise, and then 10 pr. ct. be deducted, the gain, at first sight, would appear to be 20 pr. ct., but is in reality only 17 pr. ct. : in like manner, if 60 pr. ct. be added, and then a discount made of 45 pr. ct., the apparent profit would be 15 pr. ct., while the real loss is 12 pr. ct.! ! For proof, see the following : $100 30 Cost of goods • Add 30 pr. ct. profit Selling price TSO Deduct 10 pr. ct. disc't 13 Cash price Gain 17 pr. ct. $117 Cost Profit 60 pr. ct. Sellingprice Discount 45 pr. ct Cash price Loss 12 pr. ct 271 $100 60 160 72 This deception will be increased rapidly as the per- centage is made larger. COMMERCIAL CALCULATIONS. INSURANCE AND POLICIES. Insurance is a contract by which one party engages, for a stipulated premium, to make up a loss which another may sustain. The premium paid is also called insurance, and is calculated in the same manner as interest. Policy is the instrument by which the contract is effected. Ex. 1. What is the insurance on $14,650, at IJ pr. ct. ? 14650 X li = $219,75 . Ans. Ex. 2. If a policy be taken out for $7,500, at 5 pr. ct., what net amount is covered, ifter paying insurance ? 7500 X 5= 375,00 :— then 7500-375= $71 25. Ans. Ex. 3. If the premium is 4 pr. ct., for what amount must a policy be taken out to cover $6,144, together with the premium paid for insurance.^ Note. — ^Thu question requires a solution entirely similar to Ex. 3 in Ditcoimt on BUls, 6144xl00=614400-i-96=$6,400. Ans. COMMISSION OR BROKERAGE. Commission or Brokerage is an allowance of a certain per-centage to factors, brokers^ and other agents, for their services in buying and selling stocks, merchandise, &c. It is obtained in the same manner as insurance. Ex. A. sells for B. merchandise to the Am't of $16,000, for which B. allows him 3 pr. ct. Commission. How much must he receive ? 16000 X 3= $480,00. Ans. LOSS AND GAIN. I. To ASCERTAIN WHAT IS GAINED OR LOST PER CENT. IN BUYING AND SELLING GOODS. Rule. Find by subtraction the gain or loss on the articles sold (either on the whole amount j or pr. box, bale, y^dy ^c), annex two cyphers, and divide by the purchase price : the quotient will be tlie gain or loss per cent. Ex. 1. If I buy 50 Yds. of Broad Cloth at $5,25 pr. Yd., and sell it at $7pr. Yd., what do I gain pr. ct. ? 7,00 — 5,25=1,75 gain on a Yd. ; to which annex two cyphers. Then 175,00-^5,25= 33j^ pr. ct . Ans. Ex. 2. Bought 1,200 Bbls. Flour at $4 pr. Bbl., and getting it damaged sold the whole Cor $4,000 ; what did I lose pr. ct. } 1200 X 4= 4800— 4000= $800 total loss. Then 80000 -t- 4800 = 16§ loss pr. c t. Ans. II. The GAIN OR LOSS PER CENT. BEING GIVEN, TO ASCERTAIN THE WHOLE GAIN OR LOSS Also to ascertain at what price merchandise must be sold to gain or lose a stipu lated per cent. Rule. \st. Multiply the cost by the rate per cent., and in the product point off two dec^ mat places. The result toill be the whole gain or loss. 2T2 COMMERCIAL CALCULATIONS. semg^irice^,''^' '"'^'^ *' ^' '^' '''^' """^ ^"^ ^''' '^'^"'^ '^ ^^''fi<^^ ^^^ you wUl obtain th^ Ex. 1. If I sell $5,000 worth of Mdse. at 33 J pr. ct. advance, what do I gain J» 5000x33i= $1666,664 Ans. on^he IJfcli? ^"'^ "' ^ P'- ^^^'' ""^'^ "'"^ ^" °^y ^^"^^^ P"^^ *° °^^^ 20 pr. ct 8x20=1,60 gain pr. Bbl., and 8+ 1,60= $9,60 pr. Bbl. Ans. III. To ASCERTAIN AT WHAT PRICE MERCHANDISE MUST BE BOUGHT IN ORDER TO SELL IT AT A STIPULATED PRICE AND MAKE A CERTAIN RATE PER CENT. Rule. Annex two cyphers to the selling pnce, and divide by one hundred increased by the rate per cent. , and the quotient will be tJie purchase price. ' ^ncreasea oy me «.w • ^' i'^" ^''''^^ ^"^ l^^ ^""'^ ^^ ^^^^ ^^^^^ includes 10 pr. ct. on the prime cost what was the prime cost ? ^ prime cow, 800, annex two c^-phers, 80000-^1 10= $727,27^3_ Ans. mu?i.eV;Vihafe ^e^" '' ^'''' ^'' '"^ '""''^ and thereby make 15 pr. ct, what 75000-.115=$6^52^^220Ibs. Ans. ' EQUATION OF PAYMENTS. The object of Equation of payments is to find the medium or average time for the par raent of several sums of different dates, or different terms of credit, or both. Rule I. When the sums are of the same date, but having diferent terms of credit Multiply each sum respectively by tJie time it has to run, and divide the sum of the several products obtained by the whole debt : the quotient will be the averaged time of credit / •'^- PJjr^^ases of B. goods amounting to $1,025, payable as follows— $200 in 3 months ; $360 m 4 months ; $300 in 5 months ; and $165 in 6 months : but concludes to give one note for the whole. At what time shall it be made payable > AmX 200 360 300 165 X X X X Time. 3 4 5 6 Product. 600 1440 1500 990 1025) 4530 (4 12j%%% 4100 4 mos. 13 d's. Ans. 430 30 $1025 4530 12900 1025 2650 2050 600 Rule II. Multiply each respective sum by the time intervening between the date wlum iU FTRST amx)unt falls due, and the date on which each sum falls due. Divide the sumTrdl several products by the whole debt, and the quotient wUl ie the average time of n^t u be counted forward from the date of the first amount falling due ^ J^IP^U to 2 K 273 r-. COMMERCIAL CALCULATIONS. Ex. A owes b! $2,000, for purchases at different dates, and on various credits, as below «itated. Required the equated time for the payment of the whole debt. Date of purchase. Jan. 16 - - - " 24 - - - Feb. 1 . - - « 15 - - - Statement from Book Ac't. Amount. Time of Cr. $300 - - - 3 mos. - 500 - - - 2 " 250 - - - 4 " 350 - - - 3 " - March 8 . - - 600 - - - 4 u Due. March 24 April 16 May June July 15 1 8 Statement arranged as an equation. Amount Time (in days.) 500 X 00 = 300 X 23 — 350 X 52 — 250 X 69 — 600 X 106 — When due. April 16. March 24. June 1 . May 15. July 8. Product 0000 6900 18200 17250 63600 $2000 ^ Then 53 days from March 24, is May 16. Ans. ) 105950 (52 J Jf J days. Rule III. Multiply each sum respectively by the time intervening between the date mi winch it falls due and the date on which the last amount falls due. Divide the sum of the several products by tJw whole debt, and Vie quotient will be the equated time, to be counted backward from the date of the last amount falling due. Ex. Suppose I purchase o;oods at sundry times as follows : Jan. 5 a bill of $376,40 on a credit of 6 months. Jan. 15 " " " 125,75 " " '' " 3 " Feb. 1 " '' " 295,25 " " " " 60 days. I^Iar. 2 " " " 325,00 no credit : and on making the last purchase wish to give my note for the whole. When must it be made payable ? Statement as an equation. Due. July 5 April 15 April 2 March 2 Amount Days. 376* X 00 126 X 81 295 X 94 325 X 125 Product 0000 10206 27730 40625 $1122 ) 78561 (70^1^^ days. Then 70 days backward from July 5 is April 26. Ans. Rule IV. By Interest. Calculate the interest on each sum respectively for the same time that you would multiply it by in working by the preceding rules. Sum up the several items of interest obtained, and find hoio long it will take for the lohole debt to acacmulate that amount of interest : the result will be the equated time, to be counted forward or back- ward, according to the day from which you reckon, Note.— To show that this produces the same answer as the preceding rules, we will take the three example* ■ircatly given, working the first at 5 pr. ct interest, the second at 7 pr. ct, and the third at 6 pr. ct. • In working this equation we have omitted the cents when less than fiHy, and when more than fifty called them a dollar This will usually be found sufficiently exact. c%n A 274 Amonnt $200 360 300 165 $1025 Months. - . 3 . - 4 - - 5 - - 6 COMMERCIAL CALCULATIONS 1. Example given under Rule I. Int ® 5 per ct - 2,50 - 6,00 - 6,25 ■ 4,12,5 $18,87,5 Int. on $1025 one mo. is $4,27,1 Then 18,87,5-4-4,27,1 =41; »4 mos. or 4 mos. 13 days. Ans. as by Rule L Cue. March 24 April 16 May June July 15 1 8 2. Example given under Rule 11. Days. Int 7 per ct - 00 - - 0000 - 23 - - 1,34,2 - 52 . . 3,53,9 - 69 . . 3,35,4 - 106 - - 12,36,7 to gain $20,60,2 Int. it requires 53 days (nearlv.) Amount - . 500 - . - 300 - . - 350 - - - 250 - - - 600 . For $2000 Then 53 days from March 24 is May 16. ^Ansf as byRuirn 3. Example given under Rule III. Days. Int 9 6 per ct - 00 - - 0000 - 81 - - 1,70,1 - 94 - - 4,62,2 - 125 - - 6,77,1 For $1122 to gain $13,09,4 Int. 70 d's are required (fraction omitted ) 70 days backward from July 5 is April 26. Ans. as by Rule III. Dm. Amount July 5 - - 376 April 15 - - 126 April 2 . . 295 March 2 - - 325 REiiAKKs.— In all the prcrr ding rules we have reckoned the time from the date either of the first «- uk pilhng due ; but any other time previous to the first date, or succeeding the last, may be chosen if prefefwd. abhl in the Ex. given tmder Rule II. we might with equal propriety have reckoned the time from Maivh 1st, in wCrfi case there would have been 24 days' time for the first item, and the others increased proportionallv : then, in the result, the number of days obtained would have been counted forward from March 1st - -^ When there are a great number of small items to be equated, all those which fell due in one month are frp. quently summed up together and called due on the first of next month. The days of grace (which are now almost universally allowed) may be added to the time of each item to ha equated, or the equation may be first worked, and then the atUition of grace made. The latter mode ia modi Am easiest, and produces the same result COMPOUND EQUATION. By Compound equation we ascertain al what time the balance of an account that con tjuns both debits and credits becomes due. Rule I. First find by simple equation the averaged time when the debits cmd credit of the account fall due, without regard to their relation to each other. Then multiply the sm/iUer side of the account, (whether it be the debit or credit,) by the number of days betwcem the days of equated time obtained, and divide the product by the balance of the account: the quotient will be tJie time required for calculation. If the earlier date of equated time be 275 affixed to the date ; hut if LATER date, Ex. 1. I stated — and Date. Jan. 4, - Feb. 1, - " 15, - Mar. 2, - COMMERCIAL CALCULATIONS. LARGER side, {whether debit or credit,) count the time back frmn the earltek the LATER date he affixed to the larger side, count the time forward frcym the and you will ohtain the day on which the halance hecojjies due, have an ac't with Samuel Wells — Am'ts and times of payment as below wish to know the equated time when the balance shall be paid. Time to run. Due. 2 mos. - Mar. 4, 30d's. - " 2 mos. - Apr. 2 « . u 3, 15, 2, Amount $250 140 450 100 Total debits $940 Date. Jan. 1, " 20, Feb. 8, Mar. 4, " 25. Time to run. Due. Amount 6 mos. - July 1, - $500 60 d's. - Mar. 21, - 200 30d's. - " 10, - 350 3 mos. - June 4, - 240 2 " - May 25, - 120 Total credits $1,410 Due. Mar. 4, " 3, Apr. 15, 2, (( Amount 250 140 450 100 X X X X Days. 1 43 30 Mode of operation. Due. Product 250 000 19350 3000 $940 22600 July 1, Mar. 21, " 10, June 4, May 25, Amount 500 200 350 240 120 $1,410 X X X X X Dayt. 113 11 00 86 76 Product 56500 2200 0000 20640 9120 88460 1410) 88460 (62|of, 63 days from Mar. 10. $1410 due May 12. 940) 22600 (24^\, 24 days from Mar. 3 is Mar. 27. $940 due Mar. 27. From Mar. 27, to May 12, is 46 days. Credits 1410 ) Smaller side. Days. Bal. Debits 940 ( 940 x 46=43240-5-470=92 days, which, counted forward from "I^:;^ \ May 12, bring us to Aug. 12. Ans. Balance $470) "^ ^ ^ Ex. 2. What is the equated time of payment for the Bal. of the following ac't. Date. Jan. 1, Feb. 20, Apr. 5, May 4, Time. 6 mos. 4 " 3 " when due. - July 1, - June 20, - July 5, May 4, Total debits Amount 150 260 325 550 $1,285 Date. Mar. 8, Apr. 3, May 6, Aug. 2, Time. 2 mos. 3 mos. 30 d's. 30 " When due. May 8, July June Sept. 3, 5, 1, Amount 150 340 420 170 ^ Total credits $1,080 Mode of operation. Due. July 1, June 20, July 5, May 4, Amount 150 260 325 550 Days. Int £» 6 pr. et 58 . . 1,45,0 47 . . 2,03,7 62 . . 3,35,8 00 . . 0,00,0 Due. May July June Sept. 8, 3, 5, 1, Amount 150 340 420 170 For $1,080 interest, it requires 46|^ days. 47 days from May 8 is June 24. $1080 due June 24. Days. Int 9 6 pr. ct 00 . 0,00,0 56 - 3,17,3 28 . 1,96,0 116 - 3^,7 to gain $8,42,0 For $1,285 to gain $6,84,5 interest, it requires 31||| days. 32 days from May 4 is June 5. $1285 due June 5. From June 5, to June 24, is 19 days. Debit 1285 ") Smaller side. Day*. Bal. Credit 1080 C 1080 x 19=20520h-205=100jVt ; 100 days backward from June .. , "TTTT C ^ gi^^e Feb. 25. Ans. Bal $205) ^ == 276 COMMERCIAL CALCULATIONS. ^^f'f' II- 5^%/y cacA sum respectively by the tim^ intervening between the daU of the first amount falling due and the date on which said sum falls d^ Find the sum of tkt Tlrat'% ^^7;^-;^- ^^%^^ f ^ ^nd also Ithl^TdU si^-JL^Z:Jr^ both fall on the same side of the account, {i. e. both on the debit or both on the credHde) reckon this tvn^ forward from the date on which the first amount becomes L;bTifthi fall (m OPPOSITE sides {i. e, one on the debit, and the other on the credit,) reckon i/ b.c^ ''ni/Ze l^'ZtJl^Ldtl^^^^^ ^^"' '"- ^'' '''''"^ ^-^'^ ^'-- NoTK.— We give below the same examples as are given to the preceding rule. Due. Mar. 4, " 3, Apr. 15, 2, (( Amount 250 140 450 100 X X X X Days. 1 43 30 Example 1. Product 250 000 19350 3000 22600 $940 470)75730(1611^ 161 days counted forward from Mar. 3 give for the equated time, Aug. 11. Ans.* Due. July 1, Mar. 21, " 10, June 4, May 25, Due. July 1, June 20, July 5, May 4, Amount 150 260 325 550 Days. * 58 47 00 $1,285 Int 6 pr. ct - 1,45,0 • 2,03,7 ■ 3,35,8 • 0,00,0 Example 2. Due. May 8, July June Sept. 3, 5, 1, Amount - 500 - 200 - 350 - 240 - 120 $1,410 940 $470 Amoimt - 150 - 340 . 420 - 170 X X X X X Days. 120 18 7 93 83 Days. 4 60 32 120 $1,080 $6,84,5, ^., 1^ For $205 to gain $2,29,5 Int. it requires 67x^ days. $205 67 days backward from May 4, is Feb. 26. Ans.* Product. = 60000 = 3600 = 2450 = 22320 = 9960 98330 22600 . 75730 Int • 6 pr. et ■ ,10,0 - 3,40,0 • 2,24,0 - 3,40,0 $9,14,0 6,84,5 §2,29,5 EQUATION APPLIED TO THE STOBAGE OF PROPERTY. Formula 1. Received and delivered on ac't of S. B. & Co., sundry parcels of flour, as follows : Bbls. Days. Prod. Jan. 22, Received 125x9 =1125 " 31, Received 1000 1125x1 =1125 Feb. 1, Delivered 545 580x14=8120 15, Delivered 312 268 X 3= 804 18, Received 420 "688^ 7=4816 25, Delivered 258 COMMERCIAL CALCULATIONS. In formula 1, we multiply the number of Bbls. by the days they are in store, and add the several products together, which produces 17280, the number of Bbls. on which storage should be charged for one day ; then this divided by 30 gives 576, the number on which to charge storage for one month. In formula 2, we multiply the number of Bbls. received and the number delivered, (each separately,) by the days from the time of reception or delivery, to the time the average closes, (Feb. 28,) and subtract the sums of the products, which produces 17280. the same as before. £ a. d. 1 15 10 5 2 6 1 3 EXCHANGE ON GREAT BRITAIN. Table showing the nominal par value of sterling money. $ cte. m. a. d. 4, 44, 444 1 3, 33, 33 9 2, 22, 22 6 1, 11, 11 3 55, 56 2 27, 78 1 $ (te in. 0, 22, 22 16, 67 11, 11 .5, 56 3, 70 ■ 1, 85 I. To REDUCE STERLING TO ITS NOMINAL PAR VALUE IN FEDERAL MONEY. Rule I. Brifig the shillings and pence to tite decimal of a pound, and annex them to the pounds ; then multiply by 40 {the sixpences in a pound) and diinde by 9 {the sixpences in a dollar) : the quotient will be the answer in dollars and decimals of a dollar. Rule IL Find the number of sixpences in the shillings and pence, and, after multiplying the pounds by 40, add them to the product, and divide by 9 ; then get the value of the odd pence separately, and add it to this quotient, Ex. 1. What is the nominal par value in federal money of jei872 lis. 5d. ? 1st method. 12 2,0 5,00000 11,4166,6 1872,57083 40 9 ) 74902,83320 $8322,53f/^V Ans. 2d method. 1872 40 74880 22 sixpences=lls. 9)74902 8322,44,44 9,26 =5d. $8322,53-rVy Ans. NoTX. — ^To obtain the real value, the premium of exchange at the time of reckoning must be added. Ex. 2. What is the value in federal money of a bill of exchange for je879, 133. lOd., *hen the rate of exchange is 9 pr. ct. premium on sterling money? 12 2,0 10,000 13,833 879,6916 40 9) 35187,6640 "3909,74,04 par value. 9 pr. ct. prem. 351,876636 3909,7404 $4261,6lTV>r Ans, 278 879 40 35160 27 s ixpencesa=13s. 6d 9 ) 35187 3909,66,66 7,41 =4d. 3909,74,07 par value. 351 ,87.66 add prem. at 9 pr.ct. $4261,6lTVy Ans. COMMERCIAL CALCULATIONS. II. To REDUCE FEDERAL TO ITS NOMINAL PAR VALUE IN STERLING MONEY. Rule. Multiply by 9 {the sixpences in a dollar) and divide the product by 40, {the stx- pences in a pound,) and the quotient will be the answer in pounds, and decimals of a pound ^ which reduce to shillings and penca, Ex. 1. What is the nominal par value in sterling money of $8,322,54? 8322,54 jei872,571 9 20 4,0 ) 74902,8,6 jei872,571 s. 11,420 12 d. 5,040 .£1872, lis. 5d. Ans. Note. — The real value is as much less than the nominal par value as the premium of exchange at the time. Ex. 2. The net proceeds of a sale amount to §4,261,62, which a factor wishes to remit to his consignor in England. For what amount will the bill of exchange be drawn, pav- ing 9 pr. ct. premium on the same ? 4261,62 109 : 100 : : 958,8645 9 100 4,0) 38354,5,8 par value je958,8645 109) 95886,4500 je879,6922:iX879,l3s. lOd. Ans. ■■* :i INDIRECT EXCHANGE. • Owing to the difference in the rates of exchange between different countries, it is fre- quently more advantageous for a person wishing to remit funds to any foreign country, to purchase a bill on some other place, and direct his agent there to invest the proceeds in bills on the place to which he wishes to make the remittance. This is called indirect exchange, or arbitration of exchange, and will be readily comprehended by the foUowin*' examples : ' ^ Ex. 1. Suppose the exchange of Philadelphia on London to be 10 pr. ct premium, of Do. on Hamburg 35.^ cents pr. marc banco, and of Hamburg on London 13.V marcs banco pr. pound sterling, and a merchant wishes to remit ^65,000 to London. How much would he gain by an indirect remittance through Hamburg, if his agent at that place charge J pr. ct. commission for procuring the bill on London. Direct to London. 5000 40 9 ) 200000 $22222,22,2 par. 2222,22, 2 prem. @ 10 pr. ct. $24444,44,4 To London through Hamburg. £ m.b.pr.je • 5000 X 13^=67500 marcs banco 337,5 Com. @ J pr ct. 67837,5 Then m. b. cts. pr. m. b. 67837,5 X 35 J =$24082,31, 2 Cost of direct exchange $24444,44,4 " " indirect " 24082,31,2 Ans. $362,13,2 Ex. 2. An agent in Havana (Cuba) wishes to remit to his principal, in Paris, tlic 'Dount of funds in his possession, $4,000. How^ much more will the principal receive 279 FOREIGN COINS AND MONEYS OF ACCOUNT. (after the expenses of exchange have been deducted) by an indirect remittance througn New York, than by a bill direct on Paris ; provided 1 dollar Havana currency be equal to 5 francs, and the exchange of Havana on Paris be 1 pr. ct. prem., of Do. on New York 4 pr. ct. prem., and of New York on Paris 5 francs 30 centimes pr. dollar, and the agents in Havana and New York each be allowed ^ pr. ct. com. for doing the business ? To Paris direct. To Paris through New York. $4000 Havana cur. 20 agent's com. at Hav. 3980 153,08 prem. at 4 pr. ct. $3826,92 am't of bill on N. Y. 19,13 agent's com. at N. Y. 3807,79 5,30 francs pr. dollar. $4000 Havana cur. 20 agent's com. at Hav. 3980 5 francs pr. dollar. 11423370 1903895 Francs 20181,2870 am't of bill on Paris. 19900 197,03 prem. at 1 pr. ct. Francs 19702,97 am't of bill on Paris. Francs 20181,29 am't rec'd. via N. York. " 19702,97 " *« direct. 478,32 Ans. FOREIGN COINS AND MONEYS OF ACCOUNT/ Moneys of Account are those denominations of money in which accounts are kept, and sales and purchases usually effected. In general, money of account is represented by coin of the countr}-, bearing the same name and equal in value with it; but in some few cases it is fictitious, that is, not represented by any coin of the country of corresponding name or value ; and in other cases, of more frequent occurrence, it is (owing to excessive issues of paper currency) depreciated in value much below that of the coin of the same name. The subjoined table exhibits the moneys of account of the principal commercial nations of tlie world. In every case where the money of account is represented by coin of equal value, the intrinsic value of the principal coin is given, estimated according to the United States Mint valuation of the metal (gold or silver) of which the coin is made ; and an approximate value is given when the money of account is fictitious, or represented by a depreciated paper currency. The valuation of foreign moneys by comparison of the quantity of pure gold or silver in their coins, with the quantity of these metals in the coins of our country, gives the real par of exchange between the United States and these countries. Different" results will, however, frequently be arrived at by comparing respectively the gold and silver coinages of two countries, inasmuch as the relative values of gold and silver at their mints are various. Thus, the Louis d'or, or French 20 franc piece, of gold, containing 89.55 giains of pure gold, and the United States Eagle, or gold piece of ten dollars, containing 232.2 grains of pure gold, the Louis d'or is worth, in the currency of the United States, $3.85.64, and 1 franc of gold is worth 19.282 cents. — 20 francs of silver, containing 1386 grains of pure silver, and 10 silver dollars of the United States, containing 3712.5 grains of pure silver, 1 franc of silver is worth, in the currency of the United States, 18J cents. There is, therefore, a difference between the relative values of gold and silver in the two coun- tries, of about 3.3 per cent. Where both of the precious metals are used for the current coins of two countries, the ♦ For thia artlcl* on Foreign Coins and Moneys of Account, which I believe to he more full and correct than any previounl* published ir this country, I am indebted to W. Vogdes, Esq., Prnfesanr of Mathematics in the Central High School of Phil* Itlphia, and author of the United Btateb Arithmetic, for which work it was prepared. 280 FOREIGN COINS AND MONEYS OF ACCOUNT. real par of exchange may be said to range between the two values of their monev-s esti- mated by comparmg respectively their gold and silver coinages. The most advantageous mode of hquidatmg mdebtedness will, of course, always be chosen ; and in case of tl.c indebtedness of the one country, a remittance will be made in gold, or should the other country be the debtor, the remittance will be in silver In -England, the country with which the United States have the most extensive con.- mercial transactions, the relative Mint valuation of silver to gold is not based upon the market values of the precious metals ; but silver is over-valued in order to keep this coina-e from being sent abroad : at the same time it is only designed to serve the pumose of snilu change, being a lega tender for the payment of debts to the amount of only £2 stV In estimating the real par of exchange with England, we have, therefore, to compare onK the gold comages of the two countries, which comparison gives ^4.86 for the value of the Sovereign or Pound SterHng. The nominal par of exchange ($44) between these two countries is retained, m quoting rates of exchange, simply because it is difficult to effect a change m the customs of nations or communities, even though such a chancre may be of undoubted utility. • ° ^ .7 *^ «* UNITED KINGDOM OF GREAT BRITAIN AND IRELAND. Accounts are kept in pounds, shillings, pence, 2u^d farthings. Prices of articles are also not unfrequently quoted m guineas. 4 farthings (qr)= 1 penny (d) 12 pence = 1 shiUing, (s) 20 shillings =1 pound sterling, (.£ stg.) 21 shillings =1 guinea, (rr) The sovereign, or pound stg. m gold, is worth $4.86 United States currenc\^ This is the true par of exchange ; the nominal par is $4^, which was established many years ago. FRANCE. Accounts are kept in francs and centimes, 100 centimes (c)=l franc (f) I he franc m silver is worth 18f cts. United States currency. BELGIUM. Accounts are kept in florins or guilders, and centimes or hundredths. 1 he florin, in silver is worth a trifle over 40 cts. United States currency. The comage of Belgium, since 1832, has been similar, in name and value, to that of HOLLAND. Moneys of account same as in Belgium. Bremen. Accounts are kept in current rix-dollars, grotes, and schwares ThfnTr''l\i^'f "i ^^^'qi'^^^ ""^ i^°"'.' current=71^ cts. United States currency The old rix-doUar (silver) =8 1.45 cts., that since 1840=71 4 cts. United States currencj. Hamburg. of " lXcV"! ^^^* '" '^'''' ''^' ""' schillings, and pfenings, currency or lubs, (meaning 12 pfenings= 1 schilling, 16 schillings= 1 marc. The marc lubs ov currency, which is a silver coin,=28^ cts. United States currcncr Ihe marc 6a7ico which is an imaginary money, based upon certificates of deposit of bulhon and jewelry m the bank of Hamburg, fluctuates 2 or 3 per cent, above or beloTF Its par value, which is 23 per cent, more than the marc currency, or about 35 cts Unit^nl States currency. * ^"""* Accounts are also someUmes kept, particularly in exchanges, in pounds, schilling and pence, Flemish. ^ j © , «*»- 12 grotes or pence=l schilling 20 schillings=l pound „ T 1 pound Flemish, banco= 7^ marcs banco. 2 1^ 281 . FOREIGN COINS AND MONEYS OF ACCOUNT. DENMARK. Accounts are kept in rix-dollars, marcs, and skillings. 16 skillings==l marc, 6 marcs=»l rix-dollar. The new rix-dollar, or rigsbank dollar (silver) is worth about 52^ cts. United States currency. The money used in commercial transactions is bank money, which is commonly at a heavy discount. NORWAY. Accounts are kept in rix-dollars species and skillings. 120 skillings=l rix-dollar species. Value of the species dollar (silver) in United States currency $1.05 gold coinage. Norway has no SWEDEN. The currency of Sweden consists almost entirely of paper money, of which there are two descriptions, the one issued by the government bank, called riksgald, the other issued by the national bank, called banco, the latter being worth 50 per cent, more than the Ibrraer. Accounts are kept in rix-dollars, skillings, and rundstycks, either riksgald, or banco. 12 rundstycks=l skillin^, 48 skillings=l rix-dollar. The value of the specie dollar (silver) or coin of the realm, in the currency of the United States, is $1.06+ : that of the paper money fluctuates, but may be said to be, of the rix-'dollar banco 37J cts. ; of the rix-doUar riksgald 25 cts. RUSSIA. Prior to the year 1840, accounts were kept in paper roubles, 3.V of which were equal to 1 silver rouble : from that period the silver rouble, and the copec o"f one hundredth part its value, have been adopted by law as the moneys of account. Value of the silver rouble in the currency of the United States, 75 + cts. PRUSSIA. Accounts are kept in thalers or dollars, silver grochen, and pfenings, 12 pfenings==l silver grosch, 30 silver grochen=l dollar. The value of the dollar (silver) in the currency of the United States, is 69 + cts. AUSTRIA. Accounts are kept in Jlorins and kreutzers. 60 kr. = l florin. The florin (silver) is worth, in the currency of the United States, 48J cts. Venice. Accounts are kept in lire divided into 100 centesimi. These are imaginary moneys, of the value of the French franc and centime respectively. SARDINIA. Accoun^«! are kept in lire and centesimi or hundredths ; corresponding in value with the French franc and centime respectively. The gold and silver coinages also correspond in value with those of France; diflerinL' only in name. • ° TUSCANY. Accounts are generaUy kept in pezze (or dollars) of 8 rials, soldi di pezza and denar% di pezza. 12 denari di pezza=l soldo di pezza, 20 soldi di pezza==l pezza of 8 rials. But for transactions of small amount, accounts are kept in lire, soldi, and denari. 12 denari=l soldo, 20 soldi=l lira, 5i lire=l pezza of 8 rials (silver)=90 + cts., currency of the United States. 282 FOREIGN COINS AND MONEYS OF ACCOUNT. PAPAL STATES. Accounts are kept m scudi (or crowns) and bajocchi. 100 bajocchi, or 10 paoh=l scudo (silver)=$1.00.6 currency of the United States. Payments of greater amount than 5 scudi -are made in paper money, which, not being redeemable in specie on demand, is uniformly at a discount. NAPLES. Accounts are kept in ducali and grant. 100 grani, or 10 carlini=:l ducat. Value of the ducat (sdver) in United States currency, a trifle under 79 cts. . SICILY. Accounts are kept in oncie, tari, and grani. 20 grani=l taro, 30 tari=l oncia. 1 oncia=3 ducati of Naples, 1 taro=l carlino of Naples. The oncia (gold)=$2.48J United States currency. SPAIN. Accounts are kept, at Cadiz, Malaga, and in most of the provinces of Spain, in rials of old plate, quintos and maravedis. 2 maravedis=l quinto, 16 quintos=l rial of old plate. lOf rials of old plate = 1 silver dollar, or $1 United States currency. At Barcelona accounts are kept in libras, sueldos, dineros and mallas. 2 mallas=:l dinero, 12 dineros=l sueldo, 20 sueldos=l hbra. The libra is likewise divided into rials de plata Catalan, of 3 sueldos each, and inu? rials ardites, of 2 sueldos each. 1 libra=^8y silver dollar, or 53J cts. United States currency. PORTUGAL. Accounts are kept in milrees and rees. 1000 rees=l milree. In notation the milrees are separated from the rees by a crossed cypher, (0) and the milrees from the millions of rees, by a colon (:)— thus, 5:4000300 rees=5,400 milrees and 300 rees. 1 milree or crown (silver) =$1.12 United States currency. GREECE. Accounts are kept in drachm^ and lepta. 100 lepta=l drachme. Value of the drachm^ (silver) in United States currency 16.6 cts.* TURKEY. Accounts are kept in piastres, paras, and aspers. 3 aspers=l para, 40 paras=l piastre. ^ Some foreign merchants resident in Turkey reckon 80, others 100 aspers to the niastn* m their accounts. ^ f^<^in.f The value of the piastre (silver) was depreciated from 60 cts. currency of the United States, m 1764, to 3 cts. m 1832. Its present value is about 3.8 cts. Its commerci^ value is about ^\ of a dollar. EGYPT. Accounts are kept as in Turkey. The piastre (silver)=4.8 cts. United States currency. CAPE OF GOOD HOPE. Accounts are kept in pounds, shillings, pence, ?ind 'farthings, sterling; or m nx^dollaru schillings, ?ind stivers. ^' "^#«.uu»wr», 6 stivers=l schilling, 8 schillings=l rix-dollar=ls. 6d. stff. 283 ^ FOREIGN COINS AND MONEYS OF ACCOUNT Id! MAURITIUS. Accounts are kept in dollars and cents (or hundredths) currency. The current dollar or dollar of account (fictitious money) is worth 4 shillings stg., when exchange is at par The dollar of the United States is valued at $1.08^ cts., currency. EAST INDIA company's TERRITORIES. Accounts are kept in Company's rupees, annas, and pice. 12 pice=l anna, 16 annas =1 Company's rupee. Value of the Company's rupee, (silver) in United States currency, 44^ cts. Notation; 1,00,000 (100 thousand)=l lac, 1,00,00,000 (10 millions)=l crore. JAVA. Accounts are kept in florins and centimes, as in Holland. Manilla, Accounts are kept in dollars and rials 8 to the dollar. The dollar (Spanish)=the dollar of the United States. Sydney, JV. S. W. Accounts are kept in sterling money. Canton, Accounts are kept in taels, mace, candarines, and cash. 1 tacl«10 mace=100 candarines=1000 cash. The cash is the only money coined by the Chinese government, and is made of a mix- ture of copper and lead. It is generally worth more than its nominal Value, and when much in demand for change, a tael will sometimes purchase only 750. Chinese is converted into United States money of account at the rate of 72 candarines per dollar; but the specie dollar of the United States generally commands a premium of 3 to 5 per cent, on this valuation. BRITISH PROVINCES OF NORTH AMERICA. Accounts are kept in pounds, shillings, pmce, and farthings, Halifax currency. The pound =$4 United States currency. ^ o j 4 farthings=l penny, 12 pence=l shilling, 20 shilUngs^l pound. BRITISH V/EST INDIA COLONIES. In these islands accounts are kept in pounds, shillings, pence, and farthings, of the same relative value as in England ; but the value of the pound currency as compared with the pound sterling, vanes very much in the diHerent islands, and is in all cases less. The follow- ing values are affixed to the currencies of the respective islands :— jEIOO stg.=jei35 of Bar- badoes=-£140 of Jamaica=X175 of the Windward islands, except Barbadoes=i:200 of the Leeward islands. But exchange on England, in these several islands, is generally at from 10 to 20 per cent, premium on the values above given. Thus it would require about i:i60 currency of Jamaica, to purchase a bill of exchange on London for jGIOO stg. CUBA AND PORTO RICO. Accounts are kept in Spanish dollars and rials of plate 8 to the dollar, corresponds in value with the dollar of the United States. The dollai ST. DOMINGO. Accounts are kept in dollars and centimes or hundredths. ■ The dollar (silver)=about 33.J cts. United States currency. currency=$l United States currency. 284 FOREIGN COINS AND MONEYS OF ACCOUNT. MEXICO. Accounts are kept in dollars and ri^ls. 8 rials=sl dollar (silver)=that of the United States. VENEZUELA, NEW GRENADA, AND ECUADOR. Accounts in these republics, formerly united under the name of Colombia, are kept in dollars and rials 8 to the dollar. The coinage of these States is very irregular in value ; some dollars (silver; bemg worth rather more than the dollar of the United States ; some not more than § its value ; but most being of less value than our coin. BRAZIL. Accounts are kept in milrees and rees currency. 1000 rees=l milree. In notation the milrees are separated from the rees by j|. The piece of 1|I200 rees (silver)=99.4 cts. United States currency. The currency of Brazil is chiefly paper and copper, redeemable in silver only at a very great discount: the rate varying very much in different provinces, and at difieient times in the same province. At Rio Janeiro, in December 1844, Spanish dollars were worth 21|040 rees. Monte Video. Accounts are kept in dollars currency, rials and centesimos. 100 centesimos =1 rial, 8 rials =1 dollar currency. The dollar of account or currency=83J cts. United States currency. There is no paper currency. Buenos Ayres, Accounts are kept in dollars currency and rials 8 to the dollar. The value of the dollar currency fluctuates very much. In December 1843, it wm worth C^ cts., United States currency, and it rarely exceeds 8 cts. in value. CHILI. Accounts are kept in dollars and rials 8 to the dollar. The dollar (silver) is worth about $1.01 United States currency, but is generally esu- niated to be of equal value with it. PERU. Accounts are kept in dollars and rials 8 to the dollar. The dollar (silver) is about equal in value with that of Chili, and the same remarkx apply to it. There is a dut}' of 5 per cent, on dollars exported. I In January 1845, $2.75 285 \ ^ FOREIGN COINS AND MONEYS OF ACCOUNT. FOREIGN COINS MADE CURRENT IN THE UNITED STATES, AND THEIR VALUES AFFIXED BY THE SEVERAL ACTS OF CONGRESS. Law of June 28, 1834. FINENESS % Portugal Brazil Spain Mexico Colombia Law of March 3, II Greiat Britain France gold coins rate PER DWT. 22 carats . . 94.8 cts. . . 20 carats and 3^V grains t3. 91 5 S 8 99 I 89.9 Cts. . 94.6 cts. . 92.9 cts, . . SILVER COINS. APPROXIMATE VALUES OF COINS AT RATES GIVEN. Moidore of 1705 $6.59 No coin of this fineness. Doubloon of 1810—24 $15.50 of Republic $15.55 of Bogota $15.61 Sovereign, of Victoria $4.86 Napoleon, or 20 francs $3.85 VALUE OF EACH. Law of June 25, 1834. FINENESS. WEIGHT. Dollar of ^ ^"^" [ liJ • 415 grs. . 100 cts. Cent. America. ) Brazil. Dollars restaraped in Brazil, same as Law of March 3, 1843. Pillar dollar of REMARKS. Spain and dollar of Mexico Peru Bolivia 5 Franc piece of France ^iV?nr • 415 grs. . 100 cts. Intrinsic value of a dollar of Chili, about 101 cts. ; of Cen- tral America, about 100 cts. above. These dollars are generally worth rather more than the value affixed. KwiT . 384 grs. . 93 cts. j ^^^ ^^^^f .^^.^^f^ ^« ?^^T ) ° ( nearly the intrmsic wortli. V^UE OF FOREIGN MONEYS OF ACCOUNT, IN COMPUTATION AT THE CUSTOM-HOUSES IN THE UNITED STATES, AS FIXED BY \CT OF CONGRESS. By Law of March 3, Thaler of Prussia = Milree of Portusral • Rix-doUar of Bremen a Thaler of Bremen, 72 grotes = Milree of Madeira = " of Azores ■ Marc banco of Hamburg = Rouble of Russia ■ Rupee of British India = 1843. 68i c. • $1.12 78ic. 71 c. » $1.00 83J c. » 35 c. 75 c. 44Jc. By Previous Laws Franc of France b Austrian Guilder ■■ Denmark Rix-dollar ■■ Pound Stg. Great Britain — " of Halifax «. " of Jamaica ■■ Pezza of Leghorn ta Ducat of Naples = Rix-dollar of Prussia = Rial of Plate of Spain = Ounce of Sicily ■■ 286 c 48 Si. 00 $4.84 $4.00 $3.00 80 c. 10 c. $2.46 c. o H rQCOCOOQCOCOCOCOCOCOCOCOeOCOOOCOCOCOCOCQCOOOCQCOCOCOCO CQ CO CC Si « s > ^ cocococococococococococococococococococt3cocococococorococ6c6 rHC^co-^iricoi^oooiOi-HC^coTjtiocor^ooo^Ot-Ho^coTfiocot^oocso OS 55 ttI^t:^^C:QO'^cococoooooa)GOooa5a>C5c?iai05asCiaiC500000 ^1 So V 3 »Hc^co'^»o;ot^ooo50»H(NcoTtiCcor^ooa50'-i(^coTj«\ocoi^oociO 3 •3 I I s e a 3 m S 3 O US mm fm 00 coT}lGSJ(><(><^ro^iOcot^cx5050'-HC«»ro'rt 00 O^ O i-H rN CO Tf vO CO r^ 00 35 o f 3 3 5 ..s ■51 tm C .2 S Oi— •cNcoTfooc?^O^o^co-rti>r^t-ir-i-c-r--r^ooooooxoooocoooocxc5 iFHC^coTi<»ocot*xciOi-iG^rO'^»ncoi>ooo50— ^oco'^iocor^oooo — if (Noo'^iocor^oocsOi-iojfO'^iocor^oociO-HCocoM^iocot^oocs COCOCOCOOQCOCOCO'^^'^'^'^'^'^'^'^'^iOiOOiOOiOiOOOO i-HXC50^'NCOTjtiOCOt^XC50'-iOJCO'^incor^XC50 — 287 4 I TIME TABLE. No. 2. ! ; i i K 1 ^* January > Jan. Feb. March. April. May. June. July. Aupuit. Sept. Oct. Nov. Dec. " . 365 31 59 90 120 151 181 212 243 273 304 334 'i February . 334 365 28 59 89 120 150 181 212 242 273 303 ! March . . 306 337 365 31 61 92 122 153 184 214 245 275 1 April . . . 275 306 334 365 30 61 91 122 153 183 214 244 } May . . . . 245 276 304 335 365 31 61 92 123 153 184 214 June . . . . 214 245 273 304 334 365 30 61 92 122 153 183 July . . . 184 215 243 274 304 335 365 31 62 92 123 153 August . . 153 184 212 243 273 304 334 365 31 61 92 122 Septembei • 122 153 181 212 242 273 303 334 365 30 61 91 October . 92 123 151 182 212 243 273 304 335 365 31 61 November 61 92 120 151 181 212 242 273 304 334 365 30 December 31 62 90 121 151 182 212 243 274 304 335 365 This table will be found very convenient for ascertaining the number of days between any two dates not more than a year distant ; also for ascertaining with accuracy and de spatch the time when notes, drafts, &c., fall due. Each of the numbers in the table shows the length of time (in days) from any day of the month standing opposite to it on the left, to the corresponding day of that mon^h which is over it. Examples. What is the number of days from March 15th to Nov. 15th .^ Opposite March, and under Nov., we find 245, the number required. What is the length of time from May 4th to August 16th.' Opposite May and under August is the number 92, showing the days from May 4th to August 4th. to August 16th it is 12 days more, which, added to 92, give 104, the answer. How many days from December 25th to June 12th ? Opposite December and under June is 182, the number of days from December 25th to June 25th ; but to June 12th is 13 days less, which, deductod from 182, gives 169, the answer. If a note be drawn July 14th, at 90 days, when will it fall due, grace included ? In the line of figures opposite July, seek that number which is nearest in amount to the number of days for which the note is drawn. This is found to be 92, which stands under October, showing that 92 days, from July 14th, brings the time to October 14th, to which arid one day, (the excess of 93 over 92,) and you have October 15th, answer. t !288 1^ 1 i D4Z0 C863 D420 C863 tJrittenden, S.W. An inductive and practic; treatisS^bookkeeping. COLUMBIA UNIVERSITY LIBRA^^^^ I* 0041419995 n6H ozsi-j 5£P2«i9^ BOUND OCT -9 1961 IN END OF TITLE