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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: Percival J Raymond Title: The tradesman' complete book-keeper Place: London Date : 1834 q4-p);)o{?)-i MASTER NEGATIVE # COLUMBIA UNIVERSITY LIBRARIES PRESERVATION DIVISION BIBLIOGRAPHIC MICROFORM TARGET ORIGINAL MATERIAL AS FILMED - EXISTING BIBLIOGRAPHIC RECORD ■i RESTRICTIONS ON USE: Business mzo P41 Percival, Raymond The tradesman's complete book-keeper, by single and double entry . . . together with a Journal ... 2d ed. London, R. Groombridge, 1834. 50 p. 1. Bookkeeping. I. Title. o TECHNICAL MICROFORM DATA ? FILM SIZE: 3S/v^m REDUCTION RATIO: Q'- f IMAGE PLACEMENT: lA VIIA; IB IIB DATE FILMED: /p-l-Q^ TRACKING # : f05H C^bUZ, INITIALS: Pi FILMED BY PRESERVATION RESOURCES, BETHLEHEM, PA t iJtIu tf:-^.^'^ ^ ^■'o 'f * A » jx,-ttm-'h-^-m»~. ^^ .^ ^. s^:i ^. -at. vi '^^ > O m C/) > o 3 3 ^ > <> fV v*^ ^ ^. o- &. o^ x>^ cP. o^ 1.0 mm 1.5 mm 2.0 mm o o 3 3 O ^ pci^iip Fr IS i^ ili^ Oi b a, CO NO 00 o 00 b ro In ABCDEFGHIJKLMNOPQRSTUVWXYZ abcdefghi|klmnopqrstuvwxyz 1234567890 ABCDEFGHIJKLMNOPQRSTUVWXYZ abcdefghijklmnopqrstuvwxyzl234567890 ABCDEFGHIJKLMNOPQRSTUVWXYZ abcdefghijklmnopqrstuvwxyz 1234567890 2.5 mm ABCDEFGHIJKLMNOPQRSTUVWXYZ abcdefghijklmnopqrstuvwxyz 1234567890 ^O T^ V fp ^CP 'o ^^ ^p ^^ <= X*^" V ^a « ^5' r^ %' k^ cP Wr ^^ ^P i m o O "D Q] "O QL,"0 30 ^ -k > C CO "O 2 x' X u ^ O c/) = m O m /^. j // 1^ .w §im^''m THE LIBRARIES Graduate SCHOOL OF BUSINESS Library •) •i •:»?:j#| f%^iJ»|||ii.| f' 'U k % ^ 4. ^ / * i^ / y "7 "7 THE TRADESMAN'S COMPLETE BOOK-KEEPER, BY In which a series of business transactions are first treated according to the most approved and simple method of Book-keeping by Single Entry, and are subsequently registered and balanced by Double Entry ; thus offering to those who understand the former, a ready means of acqnirhig the latter by Comparison ; and to those who are ignorant of Book-keeping altogether an easy method of arriving at a perfect knowledge of tliat art. Without the Assistance of a Master ! TOGETHER WITH Upon a new and improved plan (never yet made public) which avoids i\\e objections properly urged against the Italian system, and combines advantages never hitherto attempted. m 'a 7 I.. \ , By RAYMOND PERCIVAL ACCOUNTANT. SECOND EDITION. LONDON: 11. Groombridge, 6, Panyer-alley, Paternoster-row; aud G. Odell, 1 8, Princes-street, Oxford-street, near Regent-street. 1834. [entered at stationers' HALL.i -t«< *i~. 'o(ll»|i!Hfss>^«^^^j?-^^^, , , , ¥■ 1 I \i\ 7/^33 -w h 'J V. fr & I CP aJxicJt-fenpinja: ht> ^msu mntvv. — «!«:j0c::s— Thk reason of the dislike which njost persons in trade entertam towards a regular system of Book-keeping, may jnva.,ably be traced to the confused manner in which certain ieadmg principles comiected with it are; genemlly, en- deavoured to be explained. My first care shall be to make this hitherto crooked path, straight. book-and that is a Cash Book. Jieceiving credit is of no consequence, if none be given One book, and one alone, W.U answer every purpose, in both these cases. Let the occupation of a hatter, under such circumstances, taken as an example. Say that he begins business with a capital of ^200. His first object should be to get a book properly ruled) on one side of wliich he enters all the money' between the two sides will always shew him what he ought to h^e m and, and afford him an opportunity as well of Ler- ^ming at any moment he pleases, the amount of PKonr he ^ -"-d^-or the reverse. Money received sbo.dd be out i i .M^ , .«*,-. ■teiiili'^ k f down on the left hand, money paid on the other, example Dr. 1834 £ s. Jaa 1. Capital 200 2. Sales this day 3 10 2 15 3 3 5 3 10 3 ]5 4 J) 4 10 5 5 15 7 or Dr. side of the book; and or Cr. side, as in the following Cash. i 3- do. 4. do. 6. do. 6. do. 8. do 9. do. 10. do. 1]. do. 12. do. 13. do. d. 1834. Jan. 1. Paid A Band Co., for 300 Hats, as per their invoice 2. House Ex- pences 3. do. 4. do. 5. do. 6. do. 6. Wages, one week, toser- vanis •••••. 8. House Ex- Cr. £ 9, d. pences 9. do. 150 7 8 6 6 5 10 2 2 7 6 10. do. 11. do. 12. do. 13. do. Wagfg 7 6 8 5 1] 9 2 2 6 6 To know whether the amount of cash in your possession agrees with the above account, first add up the Debtor side, which you will find to be ^245 And then the other, which is 158 9 6 Which leaves a balance of , , , . 86 10 6 The sum you ought to have. This operation should be performed daily, because in case of any omission (which will be sure to be detected in con- sequence) it is easier to remember it on the day it occurred, than afterwards. Besides, the first principle with every man of business is, to ascertain that his cash is right before he goes to bed. As I have said before, this single operation will permit you to ascertain at any time you wish, the state of yoiu '.^ > t (0 5 ^j V afl^rs (provided no credit be given) with the single trouble ^ of estimating the value of your stock. Thus :— -^^ Balance of cash in hand j^or in Cost price of 250 Hats in stock . .' .* .' .' .* .' .' .' .* .* .' .* i ^25 211 10 6 J ^ So that deducting the amount of your capital (^^200) ^ from this sum, you will have made in a fortnight £11 10 6 ^ clear profit, after paying your trade and house cxpences ; from -- which a proper proportion of your rent and taxes will be the r only other deduction to be made. In House Expences I mclude every thing which does not belong to trade, but they I may be separated into their various items, if wished, without aifecting the sum total at all. If you receive credit, the only addition to the above state- ment that will be necessary in order to permit you to arrive at the same result, is as follows :— Balance of cash as aboTe i^sfi in c ^ Cost price of 450 Hats in stock ......'.' .' .' .' ,* .* 225 Deduct amount due to various persons for > ^" '" ^ 200 Hats, as per their invoice 5 ^^O Balance as before gll ~I0 fi Thus we see that but one book is necessary for the pur- ^ pose of registering daily occurrences, in cases where credit IS «o< given; which book, if kept after the manner of the one I have mstanced as an example, will also be sufficient for the purpose of ascertaining, upon any day in the year on ^vhlch you can find time to take stock, the exact amount of profit ■ realized up to that period. It is expedient that this book be J balanced m figures once a month at least, if not once a week (which latter plan would be much better), which i. effected a2 r%f'^. ■■*•*»• ^-""^ «-.iM ■iMfe*-rii...„»».ri ■ 1 ■f-*^»t^" I easily. Turn to page 4 where tlie cash account is given, and you will find the total of the two sides to be Dr. *^245 £245 Cr. *£158 9 6 To this credit vside you will write. Balance carried on ., 86 10 6 245 To Balance brought n , ? 86 10 6 lorward 3 • When credit^ however, is given, the Cash Book is not alone sufficient ; but the preceding statement will show how useful— nay, how absolutely necessary, this book is, in every kind of business ; and yet not a tradesman in a hundred ever thinks of keeping one. The first thing a beginner in business should familiarize himself with, is a Cash Book. That it is the key book of all the rest needs no further proof than the explanation I have just given, by which it is demonstrated that a cash book, where no credit is given, is alone sufficient for every purpose of business. But, as givlv^g, as well as receiving credit, forms a main feature in trade, other books are required for keeping the accounts which naturally spring out of such operations. The most important of these is the Ledger, in which all transactions with individuals are regularly registered under their respec- tive names. ITie pages of a Ledger are numbered, and, at the beginning of it, there is an alphabetical index, by which the account sought is found at once. Thus, if I am a book- seller, and one of my customers, say Mr. Thomas Brown, calls upon me to know how his account stands, I turn to that ' The totals are here taken to prevent a repetition of the items, whicH must however be imagined to be present. t « > ♦ .»>, part of the index marked B, and find the figures 103 against Mr. Brown's name^, which mean that at page 103 I shall find his account. Turning to page 103 I discover the fol- lowing statement. «[> i. ^' w ^ e A I 99 o o o VI CD n o o » D- C^ C- Q- CT* =r* c re O 9i 0-> pj a O a a> •-I n 2. o SL n B k-'a n P B- GO CD o p c «^ ^ CO B ^ B B- (5 B c n> o cr • «• B > ^ s I- B O o as « en rt> B «-♦■ rt) Oi B- B c: -^ «^ -* ££- a- o " OB *-^ a O » B vT a> o B O a 2. o* B- n M B- cr ce P cr p B O B o B CD Oi OS > ^ B rv rr B o O O *i n> Cu k« • (-♦- o *^ en *■•- • o B- CD B rD sr o ^ 5 s o B- B- B- P CO 2. p 5 o B B B C4 v^ Or 00 O o> O o> > £L B ? 2 M. P f^ ^~ ■ B cr cr.} ft _ CD b o a v. I p ao I ? 00 •^l O I ^ t o "^ B^ O 2 O vX . D- c-d ;! >«: c E^i« o B = ?5 g ?o >« ►-^ ►- ^ CD ^ rt -J * O •- ^ "^ r B o w b •^ f— V^\^%^V,^VX^ o B- CO «-♦- B- ft) OP &• 0> r*- B- P r^ CD B- CO B- O 5 B O cr B- o B 00 00 to 1833 Jan. ! S ■ — — C» I CO Sop O C CD B "^ B^ «> O 2 c "« ? •^ P P- tl>- B ^ ft s 5=^ p . 00 OS • o o © o o En o > s o > H ft w ri * Entrie^ in the index are made when the account is opened in the ^edger. The surname should always precede the christian name : ihm iirown Thomas, and not Thomas Brown. "^fllfliW'- i I Mi i 8 Up to this point every thing is simple and straight-forward, but a question would naturally enough be asked here by those unacquainted with the details of book-keeping, '' how do these items get into the account of Mr. Brown? where do they come from? a question which every beginner shouhl never cease putting to himself and others until he is perfectly acquainted with the reason for doing so, for it is a question which embraces the leading feature— the first principle of the art, and he who can answer it satisfactorily to himself will need but little instruction on the road to perfection. By analyzing Mr. Brown's account we shall discover four different classes of entries. These are. Goods, Cash, Bill Receivable, (his acceptance) and Bill Payable, (my ac- ceptance). These four classes comprehend every possible entry, as far as books are concerned ; for although there are liiany differents gorts of transactions, yet they must all be resolved, ultimately, into these. For these four classes I would have* four different primary or auxiliary books to be thus called. Cash Book Day Book Bills Receivable Bills Payable. N.B. Order Books, and many others applicable to par- ticular trades, are only memorandum books, and not books Many persons advocate the propriety of keeping two books only • namely, the Ledger, where all accounts are collected under their re-' spectiye heads; and a Day Book, where everything, namely. Cash, «ills to pay. Bills to receive. Credit given, Dfbts incurred, &c. &c! are al! lumped together. But. independently of the inconvenience of a mode which jumbles in one mass all the parts of a system, let me ask how a balance of Cash, or the ^ross amount of Acceptances to be paid or received, can be ascertained? If, by extracting them separately trom the one book m which they are all registered, then, de facto Jour books are unmediately formed ; and I know of no other way ' ,. *7 of account. Every tradesman wiU aajust these to his own peculiar wants. Beginning, then, with the first item, I find under the date of January 6, a separate charge of £33 19 for goods, against which, in the column next to the date, the figure 8 is marked. This figure refers to the page of a certain book from which the charge has been transferred into the Ledger. That book must be the Day Book. It cannot be the Cash Book, for it is not a cash transaction; neither can it belong to the Bill Receivable or Bill Payable' Book, for it is neither of these. It must, therefore, be the Day Book, which is the only one left for all transactions not of Cash or BiUs. Turning then to page 8 in the Day Book I find an entry of this sort, January 6, 1833. 1031 Forwarded to Thomas Brown, of Canterban'. per coach, ^ ^ 17 Magazines, at 2s i 2 ditto at2s.6d .''.*.'!!!.'!!!![' 2 ditto at 5s WW 4 Child's Own Book, at 78. 6d. . . ! .' \ \ .'.'.**' 60 Amulets, at 12s 1 30 33 14 5 10 10 19 This is the first entry which naturally grows out of the transaction. As soon as an order is ready for delivery, eitjier for town or country, it should be thus entered in the Day Book, specifying every necessary particular. It is subse- quently transferred, as we have shewn, into the Ledger, and the number 103 is marked in the margin to indicate the page where it is to be found in that book ; so that, if I am looking over the Day Book, I know at once where every entry is car- ried to in the Ledger; and if I am examiriiiig the Ledger, I know by the same means firom whence every entry came in the Day Book. „ ^mm^mmmmmm^mmiiif' ■it'^cin ■*»..;,, '■■*,'« 1, I fc^ ( 10 Pursuing our analysis, we come to the second entry in the Ledger, which is the sum of c£30 for my acceptance at three months date. This being a bill I have to pay, of course falls under the description of Bills Payable, and turning to the book of that name (which ought to be one of the printed forms sold by all stationers) I find that on the 7th January, Thomas Brown drew a bill on me for that amount, which I have accepted, and, consequently, charge his account with it, marking the page 103 as before in the Bill Book, and 17 in the Ledger to indicate, to, and from, what page in each it was transferred. The third and last item on the Debtor side is c£9 7 6 Cask paid, which, of course, I find entered in the Cash Book on the very day I paid it. Here too, the pages are indicated as in the Day and Bill Book. On the credit side, the first item is a sum of of 40 Cash re- ceived, which, of course, is to be found in its proper place in the Cash Book, as before explained ; and the other is an acceptance of Mr. Brovm's, which, being to be received is entered in the Bills Receivable in the same way that my ac- ceptance was entered in the Bills Payable, and for which, also, a proper printed form is sold by the stationers. All these entries should invariably take place at the time of the transaction. Thus far Mr. Brown's account, as it stands in the Ledger ^ has been explained ; and every account in the Ledger might be explained in the same way. In the process of analysing that account, however, I have necessarily been obhged to travel backwards as the easiest method of explanation, as well as to give a rapid view of the results of Book-keeping. But I shall now change my mode, and begin afresh at the be- ginning ; fully pcrsuoded that what I have already said will very much assist in clearing away the mystery whkh many t > € «t? 'if' J, € '^ i i i> m *«u ma m m» m » ^Hmmfi ii tf lii iiMmi r%^-- ^-^, ^— --- - ■ ■■ ^- --■ '^ ^'^-- — -^^-s^ 11 seem resolved shall attach to every ramification of the art. As the transactions of a year can (for the purpose of in- struction) be as well represented by those of a small portioa of it, I shall now assume that I enter into business as a bookseller, on the 1st January, 1834, with a capital of .f 1000, and show the way in which entries wee first made as they arise, and from whence I will trace them to their final settlement, and ultimate balancing. The books I shall re- quire are those I have already mentioned, and the nature of my business will involve Receiving Credit Giving Credit Receiving Cash Paying Cash Receiving other persons' Acceptances in Payment Giving my own, or other persons' Acceptances in Payment All which I take to be the general customs of persons in trade. ^T I shall now (as an introductory lesson) detail a few busi- ness transactions in the manner of a narrative, with a running commentary by its side, in order to point out how each par- ticular item is to be disposed of in one -d^e four books h have already named. To this narrative, I beg to call the utmost attention of those who are ign#rant o( every form of Book-keeping. Before the learner proceeds a step fartlier he must examine and re-examine minutely the statement which immediately follows, and understand perfectly the reason why the various items are disposed of, in the way pointed out. It needs no logic to prove, that an entry made wrong in the first book where it should be registered, or, what is quite as bad, entered into a verong book, will infallibly create a mistake in the Ledger, where it is ultimately po!?ted. 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CO . bo 4, 09 feo a o^ bo fl CO V 00 CO « a ^ o o a c CO .n eO O J3 »- ^ bo O' CO 00 (U 03 »< M CO rt ec.2 a r-r CO ST * 5 £ a o ^ 6 ^ ^ © 5 *« CO "o H /5 ^ > t C/5 4> :o ?» bo CO (O 50 -2 09* 'S I bc(^^ o ? t- ^ ^ « > •c d to o © liT^ ■^og 2 -a >r 5? CO <*- G O o8 > • • » 1 1 ds as follows ; icr & Co 6 el Bently Acceptances as follow, at nonths; — & Co • o O 09 ^« ^r^S -S ? ^ -G !1^ « 'TJ O OCQ 2 "is ns 5; ^ -^ oj c -a bo CO ^ 5 o i^a >-a2--i:.aa -wP^CQkjO In -^ CO S_a P--sao>^a;a;Qga)£ -a co a a s CC gocQ^^ ^s a a a ^""eucQcgo c^ CO .^(^■a. ..,. Ai-jit^-^^»»^«J i*^. Ti fwpiii>i<,iifc.ii!,iiniinaii •Im MfaMk «..#^ ima^P'I'rj.^^^i^' ; 'J s* 16 Having entered all these various items in their proper books, as explained, I proceed to transfer them mider their respective heads in the Ledger, which is technically called. Posting. First, taking the Day Book, I post all under the date of the 1st of January ; then follows the Cash Book in the same way, and, finally, the two Bill Books, care being taken to mark the proper page of the Ledger in the columns left for that purpose in the other books, and vice versa to note in the Ledger, in Hke manner, the folio of the book from which the entry has been extracted. Thus, day by day, all the entries in the Ledger are condensed from these four books. For the Examples See page 20 for the Cash Book. See page 22 for the Day Book. See page 24 for the Bills Payable Book. See page 25 for the Bills Receivable Book. See page 26 for the Ledger. All the items contained in the Cash Book, Bills Receivable and Payable Books, and Day Book, having been properly posted in the Ledger, (with the exception of those entries into the Cash Book which have been pointed out as not requirino- posting) the next operation will be to Balance ! This is generally done on the last day of the year, at which time the value of the stock on hand is taken. By reference to the Ledger, it yll be seen how those accounts are ruled off, which balance of themselves, and in what way the balances of the others are brought down, some being amounts I owe, and others due to me. The balances which are due to me stand upon the Debtor side of each person's account, and those which I owe on the Creditor side. Having done this, I next proceed to draw up the Balance Sheet, by vvhich 1 ^tiall ascertain the amount of profit made or f .i t t 17 loss incurred upon the year's transactions, after having paid all housekeeping expences and trade charges. In order to do this properly, I must collect into one sum all I owe, and into another all I am possessed of, and the difierence between the two will be the amount I am worth. The amounts / owe are to be found in the Ledger, and the *Bills Payable Book. The amounts due to me in the Ledger, also, and the Bills Receivable Book. Besides these I have as assets. Cash in hand, as will appear by balancing the Cash Book ; and stock on hand, which must be taken at a proper valuation. On the next page will be found a General Balance Sheet, drawn up according to these instructions. My acceptance may be given and debited to the proper account before I balance although not due until afterwards, consequently it IS an amount I really owe. And on the other hand, I may hold the acceptances of others for which their accounts have been credited before the penod of balancing, although not due until afterwards, consequently, tiiese represent money due to me. The amounts of both are to be found by refemng to the two Bill Books. ^^iraH ^ illiittl>ii»*ilt ss^ , ,rfBW>»»«'«!'-'f''"<*WiW»W*l»ll«T irrs'si ^S^imM-^ Murndgm-: -'-ftx-i^smmt I 18 Dr. BALANCES. AMOUNTS DUE TO ME, OR ASSETS. Folio in the Ledger. h Accounts extracted. W. Strange Amonnt of book debts doe to me Balances as per Ledger. 15 J5 4 Bills Receivable in mv hands not yet dne •— - ^^'•J^f--- c£io o' o!| *^^|?5 9 12 OH ^o- ^06 40 ol No.l07 60 Oi N«-i«8 37 10 ol JBalance of Cash in hand I III ^, Estimated value of Stock in hand ....!*.'.!! Jj 6941 19 Balance in my favour Which shews that after paying house-keeping and trade charges, rent and taxes, J have made a clear net profit of ^45 lOs. 6d. on my cc^al of ^1000. 1524! J[ 5 10 7 5 1045 10 4 ) c h :: it 19 31 St December, 1834. Cr. AMOUNTS I OWE, OR LIABILITIES. Folio in the Ledger. 1 2 8 4 5 9 Accounts extracted. Longman & Co. . . . Simpkin & Marshall John Murray Charles Pickering . , Ackerraan & Co.. .. Morgan & Co Amount of book debts due ^^ me Bills accepted by me, not yet due : — No. 105 ^26 10 No. 106 100 No. 107 96 2 No. 108 85 4 Balance carried down Balances as per Ledger. 15 15 45 11 41 43 171 10 5 3 3 5 6 4 9 2 •V ) I BiHHi ■■il i^m .1 I' *!ii«kf:- • '.-^1 Dr. CASH 1834. Jan. 1. 3. Feb. I. March 1 . To Capital lOQO Cash received for ^oods (ready money) 7 Turpin & Co. London^ received for ac- count of their house in Glasgow . . 18 W. Strange, London, received for ac- count of his house in Paisley 10 Cash received for goods (ready money) . . 3 4 10 3 1038 To Balance 8:27 April 1. 6. To Balance To Balance , , , . Bill Receivable, No. 101, received in cash, this day May 1. 82: 807 17 807 To Balance 742 18 760 2 10 6 -12_UL 657 9 10 Note. — The Amounts marked in the folio margin with a star, are not by single entry, posted into the Ledger ; the Cash Book alone, under that system, being quite sufficient for their registry. Only accounts with persons are kept,; not with things, as in Double Entry. At the same time, they may, ff vnshed, be posted under their respective heads as matters of reference, but care must be taken not to include them io the Balance, of which they form no part 20 I f BOOK. 1834. Jan. 2. 6. f Feb. 5. t March 5. Mf April 5. ^ 7. 8. $ I Cr, 1 2 3 4 By Amount paid Longman & Co. impkin & Co. . John Murray C. Pickering By Trade Charges, House Expences, and Wages to this day Balance to next month . , . , 40 60 75 31 5 14 211 827 14 2 By Bill Payable, No. 104, due this day . . . Balance * 1038 17 * * 20 807 2 6 6 6 By Bill Payable, No. 101, due this day . . . Ditto ditto 102, ditto 827 20 45 Balance 7 65 742 2 807 2 6 By Bill Payable, No. 103, due this day Ackerman & Co. for Strange 's Accep- tance, due this day, returned un- paid One Quarter's Rent, due this day King's Taxes Parish Taxes 30 15 Balance 40| lOi 12 6 103 657 6 2 760 2 9 12 8 10 21 ,er his invoice 62 94 12 13 12 37 : 25 37 15 37 53 85 41 3 3 4 16 4 16 If; 4 Bought of Charles Pickering, Goods, as ner his invoice 9 OnrI 5 ^no. Bought of Ackennan & Co. OnArla na npr fhpir invOlce ........... 2 *Ji-rl G tSro. - Sold Tnrpin & Co. Glasgow ; Half Cash, Half Three Months Bill. fiO Rrifish nia«»<;ir< af d«! • . 40 English Novelists, at 6s. 6d. 20 Annuals (assorted) at 12s Forwarded bv Steam Boat 7 Sold W. Strange, Paisley, 42 Assorted Annuals, at 12s ifh 8 'j-iii. ■ ■ — - Sold Boyd & Co.. Edinburgh, 36 Elements of Commerce, at 21s Forwarded per Mail. I Paid Ackerman & Co. Strange's Acceptance, due April 7 .... Boyd & Co.'s ditto ditto March 7 .... 9 Bought of IMorgan & Co, 100 Reams of Paper, at 17s ^ 1 9 Sold Morgan & Co. 120 Odd Volumes, all for t 1 I % i 4 23 f Folio in Ledger. s 10 November 1st. i Sold Renshaw & Co. 20 Volumes, at 10s. 11 Sold Thomas Griffiths 16 Volumes, at 12s. 12 Sold G. Berger, 400 Volumes, at 2s. 10 9 12 13 Sold W. Virtue, 600 Volumes, at 28. 14 Ic^ 15 16 Sold W. Smith, 150 Volumes, at 5s — Dec. 20. Bought of Palmer & Co. I Goods, as per their invoice 1 40 60 37 10 17 18 Bought ofBall& Co. Goods, as per their iuvoice 26 10 Bought of Samuel Bently, 1 Goods, as per his invoice 100 Bought of Cochran & Co. Goods, as per their invoice 96 2 85 4 i 8 N.B. The folios (as above) as well as those in the other books, should be marked in red ink, as contradistmguish- ^^ ing them from the figures which represent dates and accounts. ..f^m^' -"^WW'Wiwwipi^.ti! ViT-ffSflfB;,, .^.,- J a i H O OJ QQ 24 o© o o O O «0 00 o o o o © O C^Tt « V 4> o ^ © © C^ ^ 00 c^ lO CO © ^ lO c< o o X CO fl c B .Si "^ 6J0 ^ • 3 in XA lA lO «C^C^ bdO a; be ?; il QQ <1> a a ■2 ^ ^ 1^ a> m CO ^ CQ a ^ ^ 0) f-^ (?^ CO rt 0000 vO O fc^ « 0000 ^ C< CO «* If) ^ K 00 0) o ^ CO 00 i \ 25 b .Si a> (0 <^ C» t5 CQ ;; --^ (?* CO © © © © t^ w ©© © ©©© © © © o-^o © © © fc^ i^ ^ »-i CO fc^ f-i ^ © CO 1—4 • © t>)> rt ^ ^^^ d 'd M ir$-a ' •c J8 CO 2 ^ ,< ^ < S '"S 1 • 03 • ^ v ■4iJ s a H a CO CO ?^ CO CO CO CO CO CO ^ rt t^ lit O' • >> pc Dat< u a a 0* V Q 00 05S c^ w a c « br tj • - QCi Ci r- C ^ ^ © K X © O © © 1-4 c^ CO Tf CO 4> bJO M -S .2 i^ 0) - $ ^ •^3 O 0) 5? d^ T3 .S r. Renshaw 1«34. Nov. 1 1 Ir o Goods 10 f X i w W^ i i .X h ,t A. A wmmmmm 29 Hnd Co. 1834. Jan. Dec. 1 ; 31 .11 By Goods By Balance brought down AND Co., Glasgow. 1834. Jan. 1 1 By Cash Paisley. 1834. Jan. h^c. 3 1 4 i 1 31 By Cash By Bill Receivable, No. 102 By Balance carried down . . Edinburgh. 1 834. Jan. By Bill Receivable, No. 103 AND Co. 1834. Jan. Df^c. 31 By Goods By Balance brought dovm AND Co. 1834. Dec. 1 (By Bill Receivable, No. 104, 94 3 3 3 2 94 • 2 41 2 Cr. 1 18 18 10 10 Lcceiva ble. No. 101 V 37 Cr. 10 15 4 15 4 40 8 Cr, 37 16 Or. 85 9 5 85 43 Cr. 10 b2 ll^ , ..^*«*^ li « I y. I ; 30 Folio 11. 1834. Nov. 1 Dr. To Goods Folio 12. 1834. Nov. 1 Dr. To Goods Folio 13. 1834. Nov. 1 1 Dr. To Goods Folio 14. 1834. Nov. 1 Dr. To Goods Folio 15. Dr. 1834. Dec. 30 1 To Bill Payable, No. 105 Folio 16. 1834. Dec. 30 Dr. To Bill Payable, No. 106 Folio 17. 1834. Dec. 30 Dr. To Bill Payable, No. 107 31 Thomas 12 () h Griffiths. 1834. Dec. I 1 1 By Bill Receivable, No. 105 George 40 60 W. W. 37 10 Palmer 26 10 V> >i Bull 100 Samuel •■•••• 92 t Folio 18. 1834. Dec. 30 1 Dr. To Bill Payable, No. 108 Cochran 85 8 ; ;^ % I <^i ■>»iw i' ^ >i i| D(»WBWH W « l 8 i » i Berger. 1834. Dec. By Bill Receivable, No. 106 40 Virtue. 1834. Dec. 1 1 By Bill Receivable, No. 107. . . . 60 Smith. 1834. Dec. |By Bill Receivable, No. 108. AND Co. 1834. Dec. 30 1 By Goods 26 AND Co. 1834. Dec. f 30 1 By (yoods 100 Bentley. 1834. Dec. 30 1 By Goods % AND Co. 1834. Dec. 30 By Goods 85 Cr. 12 Cr. Cr. Cr, 37 * 10 Cr. 10 Cr. Cr. Cr. 8 .,*«# , ./♦%* 'Jwll^Wf»:ir' ;,,*i.»4 ,'a***-— li ii ""Ml K 1 I 32 After the Ledger has been duly examined, and it is seen that the balances are struck and brought down correctly, proceed to observe if those balances are transferred properly to the general Balance Sheet at pages 18 and 19, which is the last operation of all. Beyond the preceeding statement and residts, Book- keeping by Single Entry can ^' can no further go." It is to be observed of this confined system, that its results are never demonstrated or proved. Errors of omission, of addi- tion, and of wrong posting, may frequently (and in large establishments do frequently) occur, without any means of detection, except the tiresome aixd frequently fallacious method of one person examining what another has done. But by Double Entry, provided the system be a correct one, no error of any kind can escape without detection, because everything is verified by an infalhhle rule. Nevertheless, the diligent study of the method of Single Entry is warmly recommended as a preparatory step towards acquiring a knowledge of the other. No one can keep a set of books by Double Entry who does not understand Single Entry, because the one is based upon the other. When, therefore, the learner is perfectly acquainted with what has already been laid before him, let him pass on to the following pages, where he will find precisely the same transactions registered by Double Entry ; the advantages of which will not fail to strike him forcibly the moment he obtains a clear perception of them. \ I) h ► • h t \ f i L4' A-'\^\ Boofe-itnpinfl hp mmfilt Sntrg* Double Entry means that every transaction is entered into the Ledger in two different places, or rather under two different accounts, namely to the debit of one and the credit of another. Thus, if I sell Thomas Brown, goods value of 20, I place that sum to his debit and to the credit of Trade account as well, an account being kept in the Ledger under that head for that very purpose. As, by this process, every sum on the debit side of an account has a corresponding sum on the credit side of some other account, it follows as a matter of necessity that the whole of the sums total in the Ledger on one side, will be. exactly of the same amouiit as the whole of the sums totai on the other. From this is derived the power of demonstrating correct results, because if there be any error the two sides will not agree. Let this be well remembered. We have seen, that by Single Entry the items are trans- ferred from the Cash Book, Day Book, and Bill Books, at once, into the Ledger; but in Double Entry, another book, called the Journal, is necessarily used, in which the items from all the others are first arranged in proper form, and then passed into the Ledger. Thus, posting by Single Entry is done from several books ; whereas by Double Entry is from the Journal alone. The old Italian method of keeping a Journal is fraught with so many crudities, useless repetitions^ and technical jargon, that I have long abandoned it for one a thousand fold more simple in its construction, and perfect in its re- ,*»«•■ .,^^^0 ! Off i t :} ' ll \-..t:c!'/.;?r,;'*^ ^. - ^jH 34 • suits. *^ Instead of continually entering ^^ Sundries Dr. to Cash/' "' Interest Dr. to Sundries/' ^'Commission Dr. to A. B.C./' and ''D.E.F. Dr. to Commission/' with a multitude of such anomalies, I divide my Journal into two parts (the right and left hand sides of the book,) and I call one the Debtor side and the other the Creditor side. Under the Debtor side I enter uninterruptedly every thing that is to be debited; and under the Creditor side, every thing that is to be credited; and, for the reasons I have just given, both sides must agree, if I have done my part correctly. As examples are always the readiest means of instruction, I will here give two ; one to show the Italian method of Journalizing — the other my own, BY THE ITALIAN IVIETHOD. Smith and Co. Dr, to Stock Account. Jan. 1. Goods sold as per invoice 32 6 6 Sundries Dr, to Smith and Co. Jan. 1. Cash, amount received of them 20 Jan. 2. Bills Receivable, for their acceptance dueMarchd 12 6 6 32 6 6 Stock Account Dr, to Smith and Co. Jan. 10. Goods bought of them as per their invoice . . . . • ^2 16 8 Smith and Co. Dr. to Sundries. Jan. 1 0. To Cash, amount paid them 30 To Bills Payable, my acceptance due 13 March 22 16 8 52 16 8 "^ The Italian method does not ensure correctness ; for if an error on one side be balanced by the same amount on the other (a case that has happened a thousand times) tlie books will balance just as well as if no mistake had occurred. *j*u '.'**•*'■ 4) >, ? y $ ^r \ Q O a PQ *: CO 00 a a ^ 35 C* O 00 I ^ ^ 00 (O CO S Id 00 (O X to (D o- (?^ o S § a t3 > o < o H 03 o " 6 C S3 0) I ? O (o M u O BO ns o o o o Q 03 .9 ^ a o a OS a PU o CO «i CD O r-( CZ3 ^ -^ 5_CJ ^ oSpQ « CO 00 CO CO CO 00 o c^ CO O X CO O CO (?^ o c^ CO 00 ^ c;> o a* CO o s CO o T3 > ^ a- 09 gOCJpQ ^5 XO a> =s o p o • >-* a ««« o bO ^ s =» ■a^ o 1^ O ■^^ ,^ — -- a H o o o B 3 o b.sl blD fl "^ o a> i 2 « H cti O ci; S xa s O "-; •f-4 ^ be bD o ^ a § .s o* o ^ .2 CO JO •«- c ^ O ?= *- O CO 0) o Il»&teja:r' »i( t f ' 36 Independently of the simplicily of this latter an/n|^m-^ht there are other advantages which may not be overlooked! In the first place, all the entries on one side of the Journal are posted upon the same side in the Ledger, a convenience which every book-keeper m\] know how to prize. Next, all the items for each account in a month are consolidated in' one entry previously to posth.g, which reduces that labour immeasurably, and offers the phenomenon of a Ledger wherein no account for one year can have more than twetve Imes, one for each month; and, finally, the totals of each month m the Journal added together must correspond with the gross amount of all the totals in the Ledger, the last and surest demonstration of correctness which figures can offer. I shall now proceed to Journalize according to this method all the entries contained in the preceding Day Book, Cash Book, Bills Payable Book, and Bills Receivable' Book, (for which see pages 20 to 25 ) begging the learner mean- while, to recollect the following rules:— lat. When Goods are sold, the buyers must be debited and Trade Account credited with the amount. 2nd. When goods are bovgJil Trade Account must be debited and the sellers credited for the amount. 3rd. When Cash is paid, the parties receiving it must be debited and Cash Account credited, and when it is received the Account must be debited and the payers credited. 4th. When Acceptances are given, the persons on whose account they are drawn must be debited, and Bills Payable credited ; and when tliey are received Bills Recer'able must be debited and the parties on whose account they are received must be credited. l1 h f. 37 5th. When Accepted Bills become due and are paid, Bills Payable must be debited and Cash credited ; and when 5 Bills to be received become due and are paid, Cash jHi^iM^^ be debited with the amount, and Bills Re- ceivable credited. Finally. No Entry can be made in the Ledger unless it be vfr extracted from the Journal, consequently every thing must go into the Journal first. By attending strictly to these rules. Book-keeping by Double Entry will be rapidly acquired. t '#■ >^ { tmtmmitfKi^^^nf^^'!'' 4:;f;«#4,;.a6i:- m I i- M ':i i 38 £>r. journal: Turpin & Co., 3. Goods sold, as per invoice W. Strange. 3. ditto ?oyd & Co. 4. ditto Ackerman Sc Co. 4. Paid them Bill Receiv- able, No. 102 .,.. 15 4 Idem 103 .... 37 16 Morgan & Co. 4. Goods, as per invoice. Longman & Co. 2. Bill Payable, No. 101 Cash paid them . •...•• 20 40 37 25 37 Simpkin & Co. John Murray. 2. Bill Payable, No. 102 45 Cash paid them 60 2. Bill Payable, No. 103 30 Cash paid him 75 Chas. Pickering. 2. Bill Payable, No. 104 20 Cash paid him 31 Bills Receivable. 31. Amount received this month, as per Bill Receivable Book Cash. 31. Amount received this month, as per Cash Book Trade Account. Goods bought this month : 1. Of Longman 8c Co 75 10 1. Simpkin & Co 120 5 John Murray 150 Charles Pickering . . 62 3 Ackerman & Co. ... 94 3 Morgan & Co 85 Cash paid charges, as per Cash Book • • 5 14 1. 1. 4. 4. *6. 53 41 60 105 105 51 71 1038 4 16 592 15 10 17 a' 17 2218 19 3 3 * As Trade Account is to shew the Amount of profit made, all charges and expenses must be carried to its debit. February, Bills Payable. 6. Cash paid, No. 104 20 ») h f ^ t ^ r I i^- t 39 January, 1834, Cr. Longman & Co. Simpkin & Co. John Murray. Chas. Pickering. Ackerman & Co. Morgan & Co. Bills Payable. Turpin & Co. 1. Goods, as per invoice 1. ditto 1. ditto 1. ditto ' •• • • 2. ditto 4. ditto 31 . Amount of Bills accepted this month, as per Bill Book 3. Bill Receivable, No. 101 18 10 Cash Received 18 10 W. Strange. Boyd & Co. Trade Account, 4. Bill Receivable^ No. 102 15 4 3. Cash Received 10 4. Bill Receivable, No. 103 L Capital invested this day 1000 Goods sold this month :— 3. To Turpin & Co 37 3. Strange 25 4 3. Boyd & Co 37 16 4. Morgan & Co 41 15 1. Cash received 7 4 4. Ditto 3 3 Oaali. 31. Amount paid this month, as per Cash Book Bills Receivable. 4. No. 102, paid Ackerman 15 4 No. 103 ditto 37 16 75 10 120 5 150 62 3 94 3 85 115 37 25 37 1152 211 53 2218 1834. Cash. 29. Amount paid this month, as per Cash Book 20 4 16 14 6 4 9 19 3 ■immmitmmswitlfDHIIII^SZ. ii M w ii ^ I 40 Dr. Bills Payable. 5. Cash paid. No. 102 Ditto No.101 March, 45 20 65 1 Bills Payable. 5. Cash paid. No. 103 W. Strange. 7. His Bill returned unpaid Charges onTrade 8. Cash for Rent 40 King's Taxes 10 12 6 Parish Taxes 7 6 2 Cash. 30. Amount received this month, as per Cash Book April, 30 15 1 4 57 18 8 18 10 121 12 8 RenshawSc Rash. 1. Goods sold them Thos. GriflBths. 1. Goods sold him G. Berger. 1. Goods sold bim W. Virtue, 1. Goods sold him W. Smith. 1. Goods sold him November, 10 9 12 40 60 37 10 157 2 Trade Account. 20. Goods bought this month : Of Palmer & Co 26 Bdl& Co 100 S. Bently 96 Cochran & Co. ... 85 10 2 4 6 8 December, Palmer & Co. .30. Bill Payable, No. 105 Bull & Co. 30. Idem No. 106 Samuel Bently. 30. Idem No. 107 Cochran & Co. 30. Idem No. 108 .* Bills Receivable. 31. Amount received this month, as per Bill Book 307 26 100 96 85 157 17 10 2 4 2 6 8 772 16 ll ^ X / . 4 t <^ . I 4 41 1834. Cr. Cash: u I: 31. Amount paid this month, as per Cash Book Tl i 65 65 '1834. Cash. 30. Amount paid this month, as per Cash Book Bills Receivable. 6. Cash received, No. 101 1834. Trade Account. Goods sold this month ; — 1. To Renshaw & Rush . . 1. Thomas Griffiths . . . 1. G. Berger 1, W. Virtue 1. W. Smith. •••••... 10 9 12 40 60 37 10 157 2 2 157 ••••••* 26 100 96 85 307 10 9 40 60 37 10 2 4 17 12 10 16 103 2 8 18 10 121 12 8 1834. Palmer & Co. 20. Goods bought of them . Bull %c Co. 20. Idem Samuel Bently. 20. Idem Cochran & Co. 20. Idem Bills Payable. 30. Bills accepted this month, as per Bill Book Renshaw & Co. 1 . Bill Receivable, No. 104 . Thos. Griffiths. 1. Idem No. 105. G. Berger. 1. Idem No. 106. W. Virtue. 1. Idem No. 107. W. Smith. 1. Idem No. 108. 6 8 2 ■.■mmffmfmm^*. ^ns^^eii **':#if 4 i>' # THE Wherein the contents of the •* Dr. Tu«pin 1834. Jan. 3. ToGoods 37 Dr. W. Jan. 3. ToGoods 25 4 i April 7. To Bill -eturned 15 4 '^> 40 8 To Balance 15 4 ^ Dr. Boyd Jan. 4. To Goods 37 16 ^ _________ /< Dr. Ackerman Jan. 4. To Sundries 53 To Balance 41 3 2 94 3 2 Dr. * Morgan w Jan.4. ToGoods 4115 To Balance 43 5 85 ' Dr. Longman Jan. 2. To Sundries , 60 To Balance 15 10 6 / 75 10 6 Dr, Simpkin Jan. 2. To Sandriet «♦ ] 05 To Balance , , , , , 15 5 4 j. 120 5 4 I t i 4 43 ;^ LEDGER. 'preceding Journal are posted^ =============^ Cr. &^ Co. 1834. 37 Jan.31. BySundnes -3 . - — - ^^ Strange. 25 4 Jan.31. BySundnes '.!..... 15 4 By Balance . .^ 40 8 _ ___ . — & ^0. ^ 37 16 Jan.4. By Bill Receivable — ""' : " ar~ & Co. . . 94 3 2 Jan. 2. By Goods 94 3 2 41 3 2 By Balance _^ _— -_ Cr. & Co. . . 85 Jan. 4. By Goods 85 43 5 By Balance — Cr. & Co. .... 75 10 6 Jan. 1. By Sundries 75 10 6 „ „ , 15 10 6 By Balance 'J^ Or. & Co- ^ ^ 120 5 4 Jan. 4. By Goods • * • ' 120 5 4 „ „ , 15 5 4 By Balance • • • • ••....•••••••••• !'.C»a5«;; 1, I f I!' '! f 44 Dr. ,v, John Jan.2. ToSnndries 105 To Balance 45 150 Dr. Charles Jan. 2. ToSnndries 51 To Balance II 3 9 62 3 9 *''**'*^ — I -r- II Di\ Bills Jan. 31. To Sundries 71 10 Dec. 31. Idem 157 2 228 12 To Balance . . , . • 157 2 ^- . Cash Jan. 31. To Sundries 1038 17 April 30. Idem 18 10 1057 7 To Balance "657 9 10 ^^' Trade Jan. 31. To Sundries koo 17 « April 30. Idem ! ! ! * 57 1 S 8 Dec. 31. Idem ! ! .* . 307 17 9 J. , 958 13 1 ^^^^^^ 350 10 n 1309 4 i 45 Murray. ^'^•O %\ k / i^^^* ByGoods 150 K^ 150 By Balance 45 Pickering. C'r. X ■_ Jan. 1. ByGood? 62 3 9 ^l# 62 3 9 ByCalance 11 3 9 4 Receivable. C^^. Jan. 31. BvSundries 53 AprilSO.ldcm 18 10 X ■ J^ r 71 10 Balance 157 2 228 12 Account. Cr, Jan. 31. By Sundries 211 14 6 y- I 1( Feb.29. Idem 20 March31.1dera 65 April 30. Idem 103 2 8 399 17 2 Balance 657 9 10 1057 7 Account. Cr. Jan. 81. By Sundries 1152 2 Nov. 30. Idem 157 2 » j I i 1309 4 By Balance 350 10 W 1 m '''i^*»ifiaeisiw^mimmvi'^: . :.: ' '?!P*^**^'^'"" -^m- .^»fe* .#• :i I! t i 46 Feb. 28. To Sundries Marh.31. Idem April 30. Idem . , Balance Dr. Nov. 1. To Goods Dr. Nov. I. To Goods Dr. Nov. 1. To Goods Dr. Nov. 1. To Goods Dr. Nov. 1. To Goods Dr. Dec. SO. To Bill Payable, No. 105 Dr, Dec. 30. To Bill Payable, No. 106 Dr. Dec. 30. To Bill Payable, No. 107 Bills 20 65 30 115 307 17 2 422 17 2 Renshaw 10 Thomas 9 12 gT 40 w. 60 w. 37 10 Dr. Dec. 80. To Bill Payable, No. 108 • • • • Palmer 26 10 Bull 100 Samuel 96 2 6 Cochran 85 4 8 ) 47 ^ Payable. T Jan. 31. By Sundries Dee. 31. Idem • • Cr. 115 307 17 2 f>\* \ A V .1 i^ f I ^ 422 17 2 By Balance 307 17 2 & Rush. Dec. 1. By Bill Receivable, No. 104 . . Cr. 10 « — , Griffiths. Dec. I. By Bill Receivable, No. IOj .. Cr. 9 12 _ - — ■ Berger. Dec. 1. By Bill Receivable, No. 106 . . Cr. 40 ^1, Virtue. Dec 1 By Bill Receivable, No. 107 . . Cr. 60 ' Smitii. Dec. 1. By Bill Receivable, No. 108 . . Cr. 37 10 — _ &Co. Dec. 20. By Goods Cr. 26 10 — _ &Co. Dec. 20. By Goods .. Cr. 100 Bently. Dec. 20. By Goods Cr. 96 2 6 &Co. Dec. 20. By Goods Cr. 85 4 8 i wmmmmmf^mmtmKt'^'" . Mi •J ''* 4 /.■ 1 H i I 48 In the preceding Ledger,, I have posted under the head of Trade Account all goods bought and charges incurred (as well domestic as those which relate to business) to the Debit ; and to the Credit, the amount of my capital and goods sold, consequently, the balance of this account added to the amount of stock on hand will always shew the profit on my business, nor do I need any other for that purpose. For instance ; — Balance of the account .. .. 350 10 11 Value of Stock on hand, as estimated in the Balance Sheet by Single Entry (see page 18) .. .. 694 19 7 Total Balance in my favour, as shewn in the Balance Sheet by Single Entry 1045 10 6 But in partnership accounts, such a plan would not do, because my own domestic expences cannot be put to the charge of trade, neither should those of my partners; nor should our respective capitals be included in it. In such a case, a separate account must be opened for each individual in the firm, which must be credited with their separate capitals, and debited with their relative charges. And at the end of the year, when the balance is struck and the profit or loss determined, the sum total must be divided into the proper proportions, and then transferred from the general Trade, or Profit and Loss Account, to each separate individual's debit or credit, according as the case may be. N. B. A Profit and Loss Account is merely another name for a Trade Account. AH bad debts must be charged to that A ccount which shews the Profit and Loss (whatever the name may be) and the bud Accounts themselves closed by the transfer. Let us now see if the Ledger is correct. To determine this, I must first extract all the totals, Dr, and Cr, fbefor** J' 1 t. \ ^ /) l") i ^ ^ (3 4 49 the balances are struck) which must not only agree with each other, but correspond as well with the sums total in the Jounial. If I prove this to be the fact, I demonstrate that every thing in the Journal has been posted into the Ledger. IftQ-' PROOF SHEET. r AMOUNTS AT 1 DEBIT. AMOUNTS AT CREDIT Turpin & Co. 37 .. 37 W. Strange 40 8 .. 25 4 Boyd & Co. . . 37 16 .. 37 16 Ackerman & Co. 53 .. 94 3 2 Morgan & Co. 41 15 .. 85 Longman & Co. 60 .. 75 10 6 Simpkin & Co. 105 .. 120 5 4 John Murray . . 105 .. 150 r Charles Pickering 51 .. 62 3 9 Bills Receivable .. 228 12 .. 71 10 Cash . . . . .. 1057 7 .. 399 17 2 Trade Account .. 958 13 I .. 1309 4 Bills Payable 115 .. 422 17 2 Renshaw & Rush 10 .. 10 Thomas Griffiths 9 12 .. 9 12 r G. Berger 40 .. 40 W. Virtue . . 60 .. 60 --* W. Smith 37 10 .. 37 10 ^. Palmer & Co. 26 10 .. 26 10 ^F * Bull & Co. . . 100 .. 100 Samuel Bently 96 2 6 .. 96 2 6 Cochran & Co. 85 4 8 .. 85 4 8 3355 10 3 3355 10 3 TOTALS IN THE JOURNAL. For January . , /•'or February For March For April For November For December • • 2218 19 3 20 65 121 12 8 157 2 772 16 4 3355 10 3 Having thus seen that the totals on both sides of the Ledger not only agree with each other, but correspond as well with those of fha Journal, which is proof msitive that ,^f>-..'mmmimmm ,my ^ _^^,.if»»p'^= WiVm-f i«Ii*^ H_-wti#"i; » I»sii0e!i;:i 50 the books are correct, our next and last care will be to see that the balances are properly struck and brought down, which is done by extracting them as follows, and observing that both sides are alike. t t ; D r, W. Strange . . Bills Receivable Cash . . . . BALANCES. 15 157 657 4 2 9 10 829 15 10 Ackerman & Co. Morgan & Co. Longman & Co. Simpkin & Co. John Murray , . Charles Pickering Trade Account Bills Payable Cr. 41 3 43 5 15 10 15 5 45 11 8 350 10 11 307 17 2 829 15 10 2 6 4 9 This is the final operation at the end of a year ; and the Journal of the next should have for its first entries Debtor and Creditor, an exact copy of the Balance Sheet, registered in the same way as all other items and included in the monthly total. I A! 'A >1'1 FINIS. 1 i* 'A Ssls'^ *'«^ 44^**#Sra»- ^-Nsfts*!^ ' ; ij • J I COLUMBIA UNIVERSITY LIBRARIES This book is due on the date indicated below, or at the expiration of a definite period after the date of borrowing as provided by the library rules or by special arrangement with the Librarian in charge. DATE eORROWCD DATE DUE DATE BORROWED DATE DUE 1 i 1 1 1 1 i 1 1 • 1 1 1 • 1 1 C2a ( 10-53) lOOM i X i I • f n 'J^ \ D42C P41 '^wffilfliniKfJSITY LIBRARIES 0041405064 D420 Percival, r. The trsd..sBian»s complete booJ keeper, by single and double en try , —- - — -— — MAR 2 4 1994 BOUND I AUG 2 3 1954 ..m/»*iiM***** ^^.