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Author: 
 
 Marsh, Christopher C 
 
 Title: 
 
 The science of 
 double-entry... 
 
 Place: 
 
 New York 
 
 Date: 
 
 1851 
 
MASTER NEGATIVE « 
 
 COLUMBIA UNIVERSITY LIBRARIES 
 PRESERVATION DIVISION 
 
 BIBLIOGRAPHIC MICROFORM TARGET 
 
 ORIGINAL MATERIAL AS FILMED - EXISTING BIBLIOGRAPHIC RECORD 
 
 IPM""*" 
 
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 36. 
 ONTGOMERr Marsh, C[hristopher] C. 
 
 The science of double-entry book-keeping, simplilBed by 
 the application of an infallible rule for journalizing ... 
 By C. C. Marsh ... Rewritten, enl., and improved, from 
 the 20th ed. New York, Philadelphia, Hogan & Thomp- 
 son, j3.851. 
 
 2i8 p. incl. forms. 23i*". 
 
 1. BiJoWcecfMng. 
 
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 LIBRARY 
 
 i^ctiool of ^usiintsii 
 
 IKfte iHontgomerp Hihtaxp 
 
 of 
 
 jSfttountamp 
 
DIAGRAM 
 
 liuHoaliu^ the relnlion the Bookg bear to eacli other; iuicl that tlieir reeonU.puK^ing irom um' to another.termknatein the Le<*ei* 
 
THE SCIENCE 
 
 OF 
 
 DOUBLE -ENTRY BOOK-KEEPING, 
 
 SIMPLIFIED 
 
 BY THE APPLICATION OP AN 
 
 INFALLIBLE RULE FOR JOURNALIZING: 
 
 CALCULATED TO INSURE A COMPLETE KNOWLEDGE OF 
 
 THE THEORY AND PRACTICE OP ACCOUNTS: 
 
 BEING A SERIES OF WELL-SELECTED MERCANTILE TRANSACTIONS, SO ARRANGED 
 
 AS TO FORM A COMPLETE COURSE OF PRACTICE AND INSTRUCTION. AND 
 
 DESIGNED FOR THE USE OF SCHOOLS AND COUNTING-HOUSES IN THE 
 
 UNITED STATES: INCLUDING NUMEROUS EXAMPLES OF 
 
 MERCANTILE CALCULATIONS. 
 
 By C. C. marsh, Accountant, 
 
 AUTHOR OF "SINGLE-ENTRY BOOK-KEEPING IMPROVED," kc. 
 
 REWRITTEN, ENLARGED, AND IMPROVED, FROM THE TWENTIETH EDITION, 
 
 ■WITH AN 
 
 ORIGINAL DIAGRAM. 
 
 iQ 
 
 NEW YORK: 
 
 PUBLISHED BY JOHN' C. PwIKER 
 
 315 BROADWAY. 
 
 1857. 
 
^•^y''<uxUL^ 
 
 ^-o 
 
 \; 
 
 H- 
 
 Entered according to Act of Congress, in the year 1850, 
 
 By C. C. marsh, 
 
 la the Clerk's Office of the District Court of the United States, in and for the Southern 
 
 District of New York. 
 
 
 C^A 
 
 rrKRKOTYPKD BY C. C, SAVAGE, 
 i:» CliamlnTn Street, N. Y. 
 
 
 t. 
 
 THIS VOLUME IS RESPECTFULLY 
 
 DEDICATKD 
 
 TO THE 
 
 CLERKS, 
 
 (tljp Mm S^lrrrljnnts, nf tljr Hnitrli Itntrs, 
 
 WHOSE INTEGRITY, AND ASSIDUITY IN THE PERFORMANCE OF THEIR DUTIES, 
 HAVE LONG BEEN WITNESSED AND ADMIRED 
 
 By the Author. 
 
INTEEEST AT FIVE PER CENT. PERjOTNm 
 
 :< 
 
 August 
 Sept. . . 
 
 Oct. 
 
 Nov. 
 
 LDec. 
 
 3H5 
 
 308" 
 275 
 246 
 214 
 184 
 153 
 122 
 
 337 I 365 I 31 I 
 306 I 334'! 365 
 I 376 I 30 4 I 3 'S 
 I 245 , 273 I 304 
 
 92 
 
 31 
 
 184 I 213 I 243 
 j 1541 181 ''-^ 2 I 
 I 12rn5 1 I 1H2 I 
 |_ 92 \m\ 151 I 
 1 '621 -901 121 1 
 
 3:i4 
 
 304 
 '273 . 
 242J 
 212 I 
 '181 I 
 151 I 
 
 611 92_Li23"|_153J_184_ 
 SoTei I 92 1 122 1 153 
 92 I 123 
 
 3 65 
 
 fir^l 243 l_274T30iT3^ I 3 65 | 3 1" | 62 | 
 804 1 
 273 I 
 
 '243 I 
 
 334 1 365 I 31 J_61 1 
 303_L33_1J^«.5J_3(M 
 273 I 301 I 335 | 365 | 
 
 92 
 
 "of 
 
 183 
 
 153 
 
 122 
 
 91 
 
 212 
 182 
 
 242 I 273 
 
 212 1213 
 
 304 1 3ai 
 
 274 I 304 
 
 31 
 365" 
 
 335 
 
 61 
 30 
 
 365 
 
 EXPLANATION. 
 How many days ar.' tliere from Novem- 
 ber 1 to July 1 ?"— Find November in the 
 first column, and .lulv at the head of tto 
 Table, .vnd in the :m;;le of meeting is 2«2, 
 the number of d;i vs required. But if the 
 given days he difterent, it is only adding 
 or suhtracling the difference ; .for in- 
 stance, ha<l the above example been from 
 Novtinber 1 to July 10, you must have 
 added 9 davs to the number found in the 
 Table ; and, on the other hand, had it 
 been from November 10 to J"ly,l0^J 
 must have subtracted 9 days ; an ■■'rf 
 
 every similar instance. In leap 
 February 20 is included, you 
 day to the number fouuciiu ' 
 
 PREFACE. 
 
 The increase of the trade and commerce of the United States, consequent on 
 the increase of population, manufactories, and agriculture, and the universal 
 confidence reposed in our political institutions, have called into requisition re- 
 newed efforts in every department of science and literature. Twenty years 
 ago, when the book which is the basis of this, was first published, works on 
 book-keeping were not as common, nor so much in demand, as they are at 
 present. Then, two were supplicating for public patronage ; now, more than 
 a dozen contend for public favor: then, book-keeping was little thought of as a 
 branch of education ; now, great exertions are made to render a practical as well 
 as a theoretical knowledge of the science attainable by study and instruction. 
 
 There are, perhaps, no people on the earth who have more necessity for skill 
 and method in arranging accounts, than those of the United States. Here a 
 most wonderful credit-system prevails. It is infused throughout all kinds of 
 business, from the largest commercial establishment to the smallest retail shop 
 — from the emporiums of the cities and towns to the remotest trading-house 
 on the confines of civilization. All classes of society, and people of all occupa- 
 tions, participate in it — the farmer, the mechanic, the rich man and the poor. 
 It animates the adventurer, inspires the enterprising, encourages the industri- 
 ous, and establishes the emigrant in the west. It fortifies the farmer and 
 planter for a year's toil, and transports the products of their labor :o a market. 
 Such a system of doing business is as much the offspring of confidence and 
 good will in man toward his fellow-man, as of capital. I truly believe that no 
 people buy as much, consume as much, and pay for as much, as the people of 
 these states. No one here thinks of hoarding money, and frw are satisfied to live 
 as they have lived, or to go on as they began ; but as sojn as they possess any 
 means above their immediate necessities, everything about them is improved, 
 enlarged, and even beautified. Thus it would seem that credit and capital are 
 on a par, equally active and never at rest. 
 
 Book-keeping is so extensively required, that it becomes difficult to say who 
 may not stand in need of the knowledge embraced under its name. No one, 
 however, who has even distant expectations of being engaged or interested in 
 mercantile affairs, manufactories, or in joint-stock companies, ought to omit to 
 make that science a study. By this I do not mean that all should or can be- 
 come book-keepers, but that those engaged in any kind of business, that possess 
 capital or that control it, and those who make a profession of the law, should 
 make themselves acquainted with its principles as a science, with the names 
 and purposes of the common account-books, with a systematic method of sta- 
 ting accounts, and with the various calculations belonging to them. Unless they 
 do this, they can not read an account, much less understand one. Doct. Johnson 
 says, in his preface to Rail's Dictionary of Commerce, "Let no man enter 
 into a large business while he is ignorant of regulating accounts ; never let him 
 
 % 
 
 1/ 
 
6 
 
 PREFACE. 
 
 "M 
 
 imagine that any degree of natural abilities will supply this deficiency or pre- 
 serve multiplicity of affairs from inextricable confusion." Doct. Johnson was 
 no book-keeper, but he knew enough of the nature of accounts to convince him 
 that book-keeping was a science that required to be studied before it could be 
 understood, and that the knowledge acquired by such study would be of inesti- 
 mable value to the man engaged in business. 
 
 It may not become the author to descant on the merits of other works on the 
 subject— that he thinks belongs to those who are more likely to look on all 
 with an impartial eye; but he may, he presumes, without offence to any, give 
 his views on some of the different methods of teaching book-keeping. One of 
 the more common presents the science to the student in such a form that he 
 has nothing to do but to copy and commit to memory ; it furnishes him with a 
 volume filled with account-books and general rules', and appears to take for 
 granted that to see the entries and operations, is to understand them. 
 
 Another essays to teach the science by an ingenious way of ruling the books, 
 and by designating for what purpose are the different columns. This plan 
 supposes that every one knows who are the debtors and creditors, what is to 
 be charged and what credited, and therefore furnishes no instruction in refer- 
 ence' thereto. 
 
 Another proposes to accomplish the object by teaching a theory and practice 
 separately ; by this plan, the pupil begins the study at the Leger, and goes 
 backward. In this method, I think it is asserted that you might as well head 
 accounts in the Leger with the words " Red" and '* Black," as to head them 
 with those of Dr. and Cr. ; indicating that these words have not their usual 
 significations when applied to book-keeping. 
 
 But the work of all is, that these and most other methods teach that 
 one account is debtor to some other account; meaning that the accounts 
 in the Leger owe to each other. Nothing, in my mind, can be more absurd 
 than this; for, although things may owe us, and we may owe them, they 
 can not owe each other. This is an error which relates directly to the the- 
 ory, and contributes in no small degree to render the science inaccessible. 
 Such a method of teaching leaves the party most interested entirely out of 
 the business, and substitutes incomprehensible suppositions for simple reali- 
 ties. The truth is, not the accounts, but the objects which they represent, are 
 the debtors ; and not debtors to each other, but debtors to the owner of the 
 books. It is to this common error that may be attributed the deficiency of 
 practical instruction in this branch. t 
 
 I would not say that these methods are so bad that no one can learn by them, 
 but that it is my humble opinion that the very faults and errors to which I have 
 referred, have given rise to an opinion often expressed, viz., that book-keeping 
 can not be learned at school. 
 
 Book-keeping by double-entry is undoubtedly a science, and not merely a 
 collection of forms and arbitrary rules. Every operation in it being susceptible 
 of rational exposition, there is no doubt that it can be taught with much better 
 effect by pursuing a course more in accordance with the modern methods of 
 teaching most branches. Arithmetic, for example, is much better taught now 
 
 PREFACE. 7 
 
 than formerly, because it is taught more by reasoning and less by rules. The 
 modern method of teaching, I believe, is by experiment and example, rather than 
 by rule and precept ; in it the practice and theory are united, but the theory 
 follows, not precedes, the practice. A question is proposed, the operation is 
 performed and explained, and then follow the principle and rule. This is the 
 natural way ; and in this order, if I mistake not, have originated all the scien- 
 ces — first the fact was discovered, and then a theory was made to account for 
 it. Facts originate theory, and not theory facts. 
 
 This book does not profess to be a new system of keeping accounts, but an 
 improved and more eflScacious way of teaching the theory and practice of the 
 art. Teaching book-keeping does not consist so much in explanations of the 
 forms and purposes of the account-books, as in expositions of mercantile trans- 
 actions. To know what the Cash-Book is for, and to know how to make an 
 entry in it, are very different things — quite as different as knowing what a vio- 
 lin is for, and knowing how to play on one. The object should be to teach the 
 science, and not merely a set of forms of account-books, variable at the will 
 of the book-keeper, and varying with the nature of the business to be recorded 
 in them. 
 
 Journalizing is the scientific part of book-keeping; by it is meant the cor- 
 rect determination of the objects and persons which, in business transactions, 
 may be our true debtors and creditors. Without the skill to determine these, 
 our knowledge of book-keeping amounts to nothing. No variation in the 
 number, the forms, or the ruling of the account-books, can afford any assist- 
 ance to the learner in this part of the study. It is in this part o£ the science 
 I claim to have made a great improvement, and to have reduced journalizing 
 to a simple question of indebtedness. In most of the mr.ihods used, many 
 rules are given to teach to journalize, or to distinguish tlie debtors and cred- 
 itors that result from business transactions. But it is well known that these 
 rules are all liable to exceptions, and the pupil encounters as much diffi- 
 culty in understanding when to apply a rule and whon not, as he would were 
 he to study the science without rules ; that is, these rules, from their variety 
 and exceptions, are more difficult to understand and apply than the science with 
 which they are connected. In this work, the all-important part of the science 
 (journalizing) is uniformly explained by one rule. This rule is simple in its 
 nature, invariable in its utility, and in its truth self-evident. It is a rule that 
 directs the thoughts of the pupil to the real merits of a transaction — brings into 
 action his interested feelings, invests his mind with practical ideas, and teaches 
 what will avail him in the business-world. While the method of imparting a 
 knowledge of accounts laid down in this work, and so arranged as to form a 
 course of practice for the student to pass through, must, in the author's opin- 
 ion, result in giving him a better practical knowledge, it will also be found to 
 be the easiest on which to study or to teach. 
 
 A method of teaching any branch which encumbers it unnecessarily with 
 rules, principles, and divisions, makes the head of the student that commits 
 them to memory a mere box ; while the more modern (the inductive) treats 
 the pupil as a responsible and free agent. That instruction which is addressed 
 
8 
 
 PREFACE. 
 
 to and excercises the rational faculties, will be of service even though it should 
 be erroneous ; for the man that has been taught to use and to depend on his 
 reason, is less liable to remain in error should he be in it, and less to get m 
 when he is out. 
 
 The forms of the account-books in this volume accord very well with those 
 used in the United Slates; and I consider them well calculated to exemplify 
 the practice of the science on. There are, it is true, shorter methods of keep- 
 ing books, which are sometimes used by experienced book-keepers ; but these 
 short methods can not be adopted until one is master of the subject as a science, 
 nor are they at all suitable to teach from— for, in studying, we require to sec 
 the art as a whole, and not in an abbreviated form. When the science is well 
 understood, in connection with a good system or set of forms of account-books, 
 there will be no difficulty in understanding any variations in those forms, or 
 any other system of keeping books by double-entry. 
 
 The plan of the book is this: One part consists of a set of account-books, 
 filled with mercantile transactions, embracing all the variety likely to occur in 
 the natural course of business, beginning with the simplest and advancing to 
 the more complicated. All the important papers and calculations required by 
 those transactions are preserved and explained, and bear corresponding dates, 
 in the part of the book entitled Forms and Calculations. 
 
 The number of transactions composing the five months' business embraced in 
 the account-books, is about one hundred and fifty, which, extending into all 
 kinds of business, are calculated to anticipate most, if not all, the cases likely 
 to occur, and to furnish the pupil with enough practice in keeping books to 
 develop the th^'ory and to make him a book-keeper. 
 
 The first part of the book (about sixty pages) is to serve as the teacher. In 
 this part, all the oj-erations, transactions, and entries, are fully and minutely 
 explained ; and all those explanations bear dates corresponding with the matter 
 in the account-books. These instructions conduct the student, like a teacher, 
 through a set of books— attending him while opening, keeping, balancin"-, 
 closing, and re-openmg the same, and in making his trial-balances, account- 
 sales, accounts-current, balance-sheets, &c., &;c. 
 
 My first work on this subject, written many years since, and which has 
 passed through about twenty editions, is by no means abrogated, but forms the 
 basis of this publication. It is rewritten, enl?rged, and improved, and em- 
 braces the result of the long experience of the author as an accountant and 
 teacher of book-keeping. I have preserved all tne most appropriate and useful 
 examples of business, introduced others, and omitted those deemed too com- 
 plicated to be of practical utility to the pupil. I have also given more exam- 
 ples in mercantile arithmetic, many of which have not before been published. 
 The entries under date of May 30th will furnish the practical book-keeper, as 
 well as the student, with forms for the making up of what are called monthly 
 entries. 
 
 All of which is respectfully submitted to the patronage of the public by 
 
 New York, 
 
 November 1, 1850. 
 
 THE AUTHOR. 
 
 CONTENTS. 
 
 Directions to Teachera page 10 
 
 Introduction It 
 
 Definitions of Account-Books 12 
 
 Note on the Day-Book 7'2 
 
 Note on the Journal 94 
 
 Note on tlie Leger n 
 
 Note on the Cash-Book 157 
 
 Infallible Rule for Journalizing 13 
 
 Opening Books 14 
 
 BusiNKss OF January — 
 
 Entries relating to— Entering into Part- 
 nership-Advancing Capiial— Assuming 
 Partners' Dehts— Simple Purchases and 
 Sales— Simple Receipts and Payments 
 — Loans — Loans on Notes and Interest 
 — Receiving and Delivering Notes — 
 
 Paying our Notes 14 
 
 Elucidations of the Journal Entries 14-21 
 
 Postine-PostingtheEntriesof January. 22-25 
 
 Trial-Balances — What they prove 26 
 
 Trial-Balance of January 25 
 
 Trial-Balance of February 36 
 
 Trial-Balance of March 42 
 
 Trial-Balance of April 47 
 
 BUSISKSS OF Fkbkuary — 
 
 Entries relating to — Paying Notes be- 
 fore due — Petty Expenses — Consigning 
 — Shipping for account of others — Fail- 
 ure and Compromise — Importing Gfxjds 
 — Acceplina: Drafts — Drafts or Ordera 
 at Sight — Buying Vessels — Drawing 
 Bills of Exchange — Bartering — Accom- 
 modation Notes — Discounting Notes — 
 
 Insuring Shipments and Vessels 27 
 
 Elucidations of the Journal Entries.... 27-3 5 
 
 BUSINKSS OF MaKCH 
 
 Entries relating to— Delivering per Or- 
 der — Receiving Consignments — Paying 
 Charges on Con'^ignments — Selling Con- 
 signments — Selling at Auction — Collect- 
 ing Notes and Acceptances — Receiving 
 Notes with Interest — Allowing for dam- 
 ages in Sales — Paying Acceptances — 
 Closing Consignments— Rendering Ac- 
 count-Sales — Receiving Account-Sales 
 — Buying in Joint-Account — Selling in 
 Joint Account — Receiving our Note be- 
 fore due — Paying Money to a Partner — 
 Buying Bills of Exchange — Closing Ac- 
 count of Sales in Joint-Account — Ren- 
 dering Account-Sales of Merchandise 
 in Joint- Account 36 
 
 Elucidations of the Journal Entries 36-42 
 
 BusiiNKSs OF April — 
 
 Entries relating to — Paying Rent — Re- 
 ceiving Returns — Receiving Consign- 
 ments free of Charges — Selling on Com- 
 mission — Renewing Notes — Allowing 
 to ourselves for damages — Shipping on 
 our Account — Closing Consignment — 
 Buying in Joint Account — Exchansing 
 uncurrent Money — Renewing our Notes 
 — Transferring Purchase at Auction — 
 Drawing: Prize — Receiving Account- 
 Sales with Returns — Taking a Consign- 
 ment to our account -Receiving Freights 
 of our Vessel — Drafts remitted us for 
 Collection — Buying Drafts per Order 
 
 2 
 
 and for Remittance — Investing Funds in 
 Drafts — Buying Specie — Allowing In- 
 terest on Partner's Capital — Rendering 
 Accounts-Current — Closing Accounts — 
 
 Correcting Errors, dec, &;c 4'j' 
 
 Elucidations of the Journal Entries 43-47 
 
 Balance-Slieets 48 
 
 Balance Sheet of April 30, 1850 49 
 
 Explanation of ihe I3alance-Sheet 5'i 
 
 Closing a Balance-Sheet 55 
 
 Closing the Books 55 
 
 Explanations of the closing Entries 55 
 
 O pening Books 56 
 
 BiTsiNKss OF May — 
 
 Relating to — Clerks' Salaries — Deliver- 
 ing Note for Debt due — Investing Money 
 in Stocks — Receiving Account-Sales — 
 Receiving Account-Current with balance 
 of Interest — Receiving Draft for balance 
 of Account — Delivering Note on Open 
 Policy — Shipments in Joint-Account — 
 Monthly Entry of Purchnses — Monthly 
 Entry of Sales — Monthly Entry of Cash 
 received — Monthly Entry of Cash paid 
 
 — Correcting E rrors 57 
 
 Elucidations of the Journal Entries 57-59 
 
 Explanations of the Monthly Entries .... 58 
 
 Correcting Errors 47 
 
 200 Q,UE8TioNS AND Answkrs, relating to — 
 
 Opening Books -.60, 61 
 
 Conducting Books 62-68 
 
 Closing Books 68-70 
 
 Day-Book — containing 150 Business 
 
 Transactions 71 
 
 Journal — containing 120 Ent.-ies 93 
 
 Leger — containing 40 Accounts 109 
 
 Cash-Book — containing <^v^ Entries 155 
 
 Invoice-Book — containing 4 Entries 165 
 
 Sales Book — containing 4 Entries ... 169 
 
 Commission Sales-Book — containing 25 
 
 Entries 173 
 
 Bill-B(X)k — containing 40 Entries 179 
 
 MKRCANTrLE FORMS — 
 
 Receipts — G rders — Promissory Notes — 
 
 Drafts— Bills of Exchange 186,187 
 
 Accounts of Sales 188, 189 
 
 Accounts-Current without Interest 190 
 
 Accounts-Current with Interest 192-196 
 
 Accounts-Current averaged 198 
 
 Letters — 
 
 Circular 201 
 
 On Ordering Goods 202 
 
 On Consigning Goods 203 
 
 On rendering Account-Sales 204 
 
 On d raw ingD rafts 205 
 
 On rendering Accounts-Current 205 
 
 Mercantile Calculations — 
 
 Discount and Interest 206 
 
 Common Divisor of 6000 — bow found.. 208 
 Commission and Insurance 20fc. 209 
 
 Exchanges — 
 
 English, French, &c. 209 211 
 
 Equation of Payments — 
 
 Averaging Bills 214 
 
 Averaging Account-Sales 215 
 
 Averaging Accounts 216 
 
 Averaging Balances 2U 217 
 
 Protits and Losses 219 
 
f 
 
 11 
 
 il 
 
 • » 
 
 ^* This work is published in the Spanish Laxguage in the same style. 
 
 ^> 
 
 DIRECTIONS TO TEACHERS. 
 
 It is evident, since book-keeping is the disposition of business transactions 
 in account-books, that there is no more elFectual way of teaching that science 
 than that of furnishing the pupil with a course of well-selected mercantile 
 transactions, of teaching him to maTce the entries of the same in the different 
 account-books, and dispensing the necessary instruction as the transactions 
 arise and the occasion may require. In this manner the pupil becomes famil- 
 iar with the forms and objects of all the account-books in common use in mer- 
 cantile or commercial houses, gains no insignificant idea of business affairs, 
 and eventually arrives at a just conception of the science — its theory and prac- 
 tice. Such a method of teaching book-keeping is undoubtedly the most natu- 
 ral, interesting, and practical ; and I know, from many years' experience, that 
 very beneficial results accrue to the pupil when it is pursued under the gui- 
 dance of any intelligent teacher. 
 
 In order that the pupil may enter upon the course of instruction laid down 
 in this work for him to pass through, let him have a set of five blank books — 
 Day-Book, Jo.^rnal, Leger, Cash-Book, and Bill-Book.* The first three may 
 each contain eight sheets of cap paper, ruled to correspond with those books ; 
 the other two maj contain about three sheets each, ruled, &c. Next, let the 
 pupil transcribe into his Day-Book the transactions of January, from the Day- 
 Book of this volume, inserting his own name in place of Thomas Blanchard. 
 The entries of the notes in the Bill-Book should be made at the time of copying 
 the Day-Book entries, as the notes arise in the transactions. The same in re- 
 spect to the Cash-Book ; let the pupil enter in it all the sums of money received 
 and paid, as he receives and pays them, composing his entries from the Day- 
 Book on a separate sheet, and, when correct, copying them into his Cash-Book. 
 Next, let the pupil begin to journalize : he will make his Journal entries first 
 on a separate sheet, and, when found correct, copy them into his Journal. 
 Next, he will post, or make entries in his Leger ; and, lastly, make a trial- 
 balance from the Leger. He may balance the Cash-Book one, two, or more 
 times during the month. 
 
 If one part of the science is to receive more attention than the other, it is the 
 journalizing; this is fully and constantly explained, and the explanations dated 
 to correspond with the transactions and entries. In general, the order of pro- 
 ceeding with the course of instruction is most carefully delineated in the first 
 sixty-eight pages ; and it is confidently believed that teachers will find the con- 
 tents of this book very conveniently arranged for teaching in classes or otherwise. 
 
 *A9 the Invoicp and Salrs Books includo nothinir moro tlinn descriptions of goods bought and sold, 
 it is not thought worth while to introduce tJu'in into the courise. Blank Hooka in gets (six to the set),' 
 arranged by the Author, may be bad of the I'ubliBhcr. 
 
 / ' 
 
 J' 
 
 ■■k 
 
 t 
 
 THE SCIENCE 
 
 OF 
 
 DOUBLE-ENTRY BOOErKEEPING, 
 
 
 SIMPLIFIED. 
 
 {' 
 
 V 
 
 INTRODUCTION. 
 
 .f 
 
 The ^ience of BQoW^^eeping by double-entry teagjies to record, 
 systematfcally and free from error, the various transactions of business 
 or of the ijjercantile profession, so that the merchant may know, his pecu- 
 mary situation, be»,ai)^to substantiate his claims and pr^teqt his prop- 
 erty, and at (Jissoluti^ ^may>'leave behind him such eyidence as will 
 enable his fridlids to understand his comrnercial relations aifil engage- 
 ments, and to wind up his affairs in a rqg^ncr satisfactory^to all parties 
 conceiVied. '% F 
 
 To ^s^hibit with clcsirness ,and regularity a correct and continupcji 
 record of the mercantile* transactions that occur between owrsel^lfes and 
 others, we deem it neg^ssary to introduce the following books : — 
 
 
 
 1 *^NV01CE-B00K. ^ 
 
 2 Saxes-Book. 
 
 3. Cash-Book. 
 
 • 4. Commission Sales-Book. 
 
 4 5. Bill-Book. • * 
 
 i 6 Daybook, "^ ? '^ 
 
 7. JouBXAL, > Principal. ^ 
 
 8. Leger, J 
 
 Of these books, Hie Cash-Book, Saleis-Book, Day-Book. Joun^al, and 
 Leger, appear to be indispensable in all houses ; while the others may 
 or may not be reqliired. For instance, if nq promissory notes are 
 given or received, there would Itie no occasion"*for the Bill-Book ; and 
 if the bills of purc)iases or invoices wei'e fiWd away with cate, the In- 
 voice-Book might ^e dispensed with. J 
 
 i * 
 
12 
 
 INTRODUCTION. 
 
 I- 
 
 INVOICE-BOOK. — This book should contain a minute description 
 of all the merchandise with which we are concerned — all that we buy or 
 receive. Entries in this book consist merely of copies of the bills or 
 invoices of goods bought, or received to be sold on commission. The 
 original bills and invoices should be preserved with care. 
 
 SALES-BOOK. — This book should give a description of all the mer- 
 chandise we sell or pass out of our possession. At the time the pur- 
 chaser selects his goods, they are described in the Sales-Book — quantity, 
 quality, and price; and from this book we make out his bill. In this 
 order we may render a second or third bill exactly like the first. 
 
 CASH-BOOK. — This book shows all the sums of money which we 
 pay or receive, with a short explanation relating to each sum. The 
 entries in this book are made at the time of paying or receiving the 
 money. 
 
 In a business where there are many sums received and paid, this book 
 should be balanced daily ; which is done by adding both pages (Dr. and 
 Cr.), and subtiacting the total paid from the total received, and the dif- 
 ference will be the *' balance on hand." This balance should agree with 
 the money itself. 
 
 COMMISSION SALES-BOOK.— This book shows the particulars 
 )f merchandise sold by us for others. Entries are made in this book 
 ;rom the common Sales-Book, and from it we make the Accounts of 
 Sales that we may have to remit to those for whom we have sold. 
 
 BILL-BOOK. — This book shows a description of all the notes or 
 acceptances i»i our favor or against us, with their dates, credits, when 
 due, and amounts. Those in our favor are entered under the head of 
 Receivable, and those against us under Payable. 
 
 DAY-BOOK. — This book shows a, clear, simple, complete, and brief 
 relation of all the transactions of our business. The greater part of the 
 entries in this book are taken or composed from the Invoice-Book, Sales- 
 Book, and Cash-Book. The Day-Book may be considei-ed the most 
 important of all the books, as it gi-es us a complete history of our 
 business. 
 
 JOURNAL. — This book shows the names of the debtors and credit- 
 ors of all the transactions recorded in the Day-Book, for the purpose of 
 transferring the same ftom the Day-Book to the Leger. Ali the science 
 of Book-Keeping is embraced in the Journal. 
 
 LEGER. — This book shows the accounts of all our debtors and cred- 
 itors. The entries in this book are drawn from the Journal. The great 
 and only object of this book is to show the result of our business with 
 every person, property, and object. Every sum that any individual or 
 object may owe us or we may owe him, from the beginning of the 
 business to the present time, wiil be found under its proper head in this 
 book. 
 
 JOURNALIZING. 
 
 All the explanations of business transactions, and the entries they 
 require in the Journal, will be found on the immediately following 
 pages. The reader need not look in the Day-Book, Journal, or Leger, 
 for instruction, because those books give the business that is supposed 
 to occur, and not the instruction. By this arrangement, the student will 
 derive the advantage of knowing which part of the volume is to serve 
 as his teacjier, and which part he is to learn or be taught. 
 
 INFALLIBLE RULE. 
 
 In order to render that part of the subject commonly considered diffi- 
 cult, more simple, positive, and rational, and to conduct the mind of the 
 reader or student into its true elements, securing, at every degree of 
 advancement, a clear understanding of whatever arises for his consider- 
 ation, I can not recommend a too close observance of the one and only 
 rule needful. This rule originates thus : — 
 
 Book-Keeping, or the science of accounts, is a systematic exhibition 
 of all that is owed us, and all that we owe. These are our Creditors, and 
 those our Debtors ; consequently, the science may be said to be founde^l 
 on the two words. Debtor and Creditor. Hence arises the rule — infal- 
 lible in its application, and in its truth self-evident. 
 
 THE RULE. 
 
 Whoever or whatever owes us is Debtor Di: 
 
 Whoever or whatever we owe is Creditor Cr. 
 
 Or, in other words — 
 
 Debit whatever owes us ; and 
 Credit whatever we owe. 
 
 Or, we may resolve the rule into the following simple questions ;— 
 
 What person or object owes 7is ? 
 
 For that alone is the Dr. 
 
 What person or object do we owe ? 
 
 For that alone is the Cr. 
 
 Note. — There is a discrimination in the sentences of this rule, not at once 
 
 perceived by all readers. Every mercantile transaction contains many more 
 
 debtors and creditors than Ave are directly concerned with. For instance, in 
 
 the simple transaction of buying merchandise, there are four debtors and cred- 
 
 tors from which we have to choose in making a Journal entry : 1st. Mier* 
 
!l 
 
 14 
 
 JOURNALIZING. 
 
 JOURNALIZING. 
 
 15 
 
 li 
 
 chandise is a debtor, because it owes us for its cost ; 2d. We are debtor, be- 
 cause we owe the person of whom we bought ; 3d. Merchandise is creditor, 
 because the person who sold it owes it for the value it produced him ; 4th. The 
 person we bought of is creditor, because we owe him. Here, then, we find 
 two debtors and two creditors arising out of this little transaction : but the 
 rule says that only those that owe us, and those that we owe, are to be counted 
 as debtors and creditors in our books, however many more there may be. 
 
 THE BUSLNESS OF JANUARY: 
 
 Embracing Entries of twenty-six Transactions, relating to — Entering into Partnership — Ad- 
 vancing Capital — Assuming Partners' Debts — Simple Purcbascs and Sales — Simple Re- 
 ceipts and Payments — Loans — Loans on Notes and Interest — Receiving and Delivering 
 Notes — Paying our Notes. 
 
 The Day-Book commences with a statement of the situation of tho 
 party or parties entering into partnership — what capital they possess, and 
 what it consists of; what they owe, and how they owe it. In making 
 Day-Book entries, or recording a transaction in the Day-Book, we do not 
 say who is debtor or who is creditor, because this belongs to the Journal. 
 
 The capital being advanced — that is, the money deposited in tho 
 banks and entered in the Cash-Book — the notes described in the Bill- 
 Book, the inventory of merchandise copied into the Invoice-Book, and 
 the articles of agreement signed and exchanged, we make an entry in 
 the Day-Book similar to that which appears in said book under date of 
 January 5, 1850. 
 
 The Journal commences with an entry formed from the first one in 
 the Day-Book. The entry consists of a resolution of those that owe us, 
 and those that we owe, for the purpose of conveying the same to the 
 Leger. These Journal entries are made by the application of the rule, 
 thus : Read the Day-Book entry carefully, and endeavor to find-.— 
 
 Wh^ or what owes us, and write that as Dr. 
 
 Who or what we owe, and write that as Cr, 
 
 Day-Book — January 5. 
 
 The first entry in the Day-Book gives the following entry in the 
 Journal : — 
 
 Journal — January 5. 
 
 Sundries Dr. To Sundries. 
 
 Cash $38,000 00 
 
 Bills Receivable 4,670 00 
 
 Merchandise 3,125 00 
 
 Charles Lawrence 140 00 $45,935 00 
 
 To Thomas Blanchard 28,000 00 
 
 To C. C. Marsh 17,935 00 45,935 00 
 
 Elucidation. — The words '' Su?idries Dr. To Sundries" are merely 
 a preface to the debtors and creditors, indicating that there are more 
 than one that owe us, and more than one that we owe. The first four 
 names in the above entry are called debtors. We have now to show 
 why they are so. 
 
 Cash is debtor, because that kind of property denominated Cash owes 
 us fi>r the amount of value we have in it — viz., $38,000. 
 
 Bills Receivable are debtor, because the notes which we hold against 
 different persons, owe us for the sums for which they are written or 
 drawn — viz., $4,670. Observe, it is not the persons who have given us 
 these notes that owe us, but the notes themselves ; our claim for the 
 value consists in the possession of these notes. The title of bills receiv- 
 able is applied to all paper claims in our favor, such as notes, diafts, &c. ; 
 but there is no necessity/ to give anything a titl&^ until we have deter- 
 mined whether it owes us, or we owe it. % 
 
 Merchandise is debtor, because that property owes us for the value in 
 it, which is S3, 125. ^ 
 
 Charles Lawrence is debtor, because, he owes us for the amount of a 
 claim that we have against him — $140: ^ 
 
 The creditors are — 
 
 Thomas Blanchard, who is creditor because the firpi, Blanchard & 
 Marsh, owes him individually for the amount of capital he has advanced 
 —$28,000. 
 
 C. G. Marsh, for the same reason, for his part of the capital advanced 
 —being $17,935. ♦ 
 
 The sum total of the debtors should be extended into the last 
 column, and should agree with itie amount of the creditors also ex- 
 tended. 
 
 The amount of the sums of the debtors, and that of the creditors, 
 should always be equal in every Journal entry. 
 
 When an entry in the Day-Book has been Journaliied, or entered in 
 the Journal, we place the page of the latter in the margin of the former, 
 opposite the said entry. , 
 
 Note. — We make a distinction in the position of the debtors and creditors 
 in the Journal entries, by placing the debtors close against the line on the 
 left, and the creditors about an inch further to the right. 
 
 The preposition "To" is always placed before the names of the creditors, 
 because the meaning is, that we are P^. to those creditors; we are Dr. being 
 words understood and not expressed. 
 
 Day-Book — 2d Entry op January 5. 
 
 The transaction under this date in the Day-Book gives the following 
 debtors and creditors, or Journal entry : — 
 
 Sundries Dr. .• To Bills Payable. .$2,310 00. 
 
 Thomas Blanchard v $1,080 00 
 
 C. C. Marsh 1,230 00 
 
 2,310 00 
 
 4r*- 
 
I 
 
 I 
 
 16 
 
 JOURNALIZING. 
 
 Elucidation. — In this entry, as in the first, the debtors are prefaced 
 by the word Sundries, there being more than one debtor. 
 
 Thomas Blanchard is debtor, because he individually oices us (tho 
 firm) for the amount of his note, which we have assumed. 
 
 C. C. Maj'sh is our debtor for the same reason. 
 
 The creditor in this entry is Bills Payable. It is so because we owe 
 the notes ; having assumed ihem, they now stand out against us as our own. 
 
 Bills Payable is a title given to notes and acceptances with our sig- 
 nature in favor of others. 
 
 Day-Book — January 7. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Store-Fixtures Dr. 
 
 To Cash $300 00 
 
 * 
 
 Elucidation. — The store-fixtures are a property which has cost us 
 $300, for which it Dices us, and therefore is debtor. Cash is creditor, 
 because we owe that j)roperly for paying the sum for us. For example, 
 if John Sims had paid fur the store-fixtures for us, we would then owe 
 him instead (jf Cash. 
 
 Observe, that when we write " Store-Fixtures Dr. To Cash," we do 
 not mean to say that the former owes to the latter, but that Store-Fix- 
 tures are debtor to us, and that we are debtor to Cash. If this Journal 
 entry were written in full, it would read thus: — 
 
 Store-Fixtures are Dr. to us for. 
 
 We are Dr. To Cash .for 
 
 $300 00 
 300 00 
 
 We ought never to forget that the words in italics, although never 
 expressed, are always to be understood. Omitting these words, leaves 
 the entry as it should be in the Journal. 
 
 Day-Book — January 8. 
 
 The transaction of this date in the Day-Book gives the following en 
 try in the Journal : — 
 
 Paul Harris Dr. [to u^) 
 ( We are Dr.) To Merchandise $325 00 
 
 Elucidation. — Paul Harris is debtor, because he owes %is for the 
 amount of the goods sold to him. 
 
 Merchandise is creditor, because we owe that class of property for 
 having produced us, in this case, $325. For the value that Merchandise 
 has produced us, Harris is responsible. 
 
 We never see the word Cr. (creditor) in Journal entries. It is un- 
 necessary, because the debtor being always named first in the entry, it 
 follows that the second must be the creditor. 
 
 JOURNALIZING. 
 
 17 
 
 Day-Book — January 10. ' 
 
 The transaction of this date in the Day-Book gives the following en 
 try in the Journal : — 
 
 Bills Receivable Dr. (to us) 
 ( We are Dr.) To Merchandise 8500 00 
 
 Elucidation. — The promissory note of William Blakoley, which we 
 entitle Bills Receivable, is debtor, because it owes us for the value the 
 merchandise has produced us — $500. 
 
 Merchandise is creditor, because we owe it for producing us the sum 
 of $500. If a man had produced or given us $500, we all would be 
 willing to owe him, or credit him, for it ; why not, then, acknowledge 
 ourselves indebted to merchandise for what it produces ? 
 
 Day-Book — January 12. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Cash Dr. 
 
 To Merchandise $125 00 
 
 Elucidation. — Cash is debtor, because it owes us for the value that 
 the merchandise has produced us, for that value is in the cash. Cash is 
 a property that owes us $125 more since the transaction occurred than 
 it did before. 
 
 Merchandise is creditor, because we owe it for producing us the $125. 
 
 Day-Book — January 13. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal :— 
 
 Oliver Otis & Co. Dr. 
 
 To Merchandise $2,000 00 
 
 Elucidation. — Oliver Otis & Co. are debtors, because they owe us 
 for the value of the goods we have sold them, and for which they have 
 not yet paid. 
 
 The Merchandise is creditor, because we owe it for the value it has 
 produced us, and for which Otis & Co. are responsible. 
 
 Day-Book — January 14. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — ' 
 
 Merchandise 
 
 Dii 
 
 To Henry Austin 4 $1,500 00 
 
 Elucidation. — As the merchandise has cost us $1,500, it must owe us 
 that sura ; therefore it is debtor. 
 
 3 
 
'? I 
 
 ^ 
 
 If; 
 
 
 13 
 
 JOURNALIZIJS'G. 
 
 Henry Austin is creditor, because we owe 7dm for the goods we have 
 bought of him. 
 
 Day-Book — January 14 (2d transaction of this date). 
 
 The second transaction of tliis date in the Day-Book gives the follow- 
 ing entry in the Journal : — 
 
 Merchandise Dr. {to us) 
 ( We are Dr.) To Cash $S00 00 
 
 Elucidation. — The goods we have bought are debtor, because they 
 owe us for their cost — $800. 
 
 We are debtor to Cash, because that article has paid Rogers & Bros, 
 for us ; therefore Cash is the creditor, expressed as above. 
 
 Note. — It is not exactly true to say that we paid Rogers & Bros, for the 
 merchandise in the above transaction. We could not do it of ourselves; we 
 must employ some agent ; the agent in this case was Cash. 
 
 Day-Book — January 16. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Merchandise Dr. [to us and we) To Sundries. .$3,200 00 
 
 To Cash $2,000 00 
 
 ♦* Merchandise 1.200 00 3,200 00 
 
 Elucidation. — First, we always ask ourselves, what owes us 1 And 
 we write down what we think owes us as the Dr. 
 
 The merchandise owes us, because it has cost us $3,200 ; and we owe 
 the Cash for having paid $2,000 for us toward the payment of $3,200 ; 
 and we owe to some other goods, likewise called merchandise, for hav- 
 ing paid for the balance — being $1,200., We find, -then, in this, transac- 
 tion, one debtor and two creditors. 
 
 Day-Book — January 17. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 James Truman Dr. (to us) 
 
 ( We are Dr.) To Cash $1,000 00 
 
 Elucidation. — Truman otves us for the amount we have lent him. 
 Cash is the creditor ; or, we owe to Cash for paying the amount to 
 J. Truman for us. 
 
 Day-Book — January 19. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 JOURNALIZING. 
 
 19 
 
 Sundries Dr. {to us and we) To Oliver Otis & Co. $2,000 00 
 
 Bills Receivable $1,000 00 
 
 Cash 1.000 00 2,000 00 
 
 Elucidation. — The word " Sundries," as we have before said, is 
 merely a preface to the debtors, which are placed directly under it. 
 
 Bills receivable oice vs for part of the sum that Otis & Co. have paid 
 us, and therefore are debtor. 
 
 Cash owes us, because we have received part of the sum that Otis 
 & Co. owed, in cash. 
 
 Note. — When a person pays us what he owed, of course he must pay us 
 la some class of property ; consequently, the property or thing in which he 
 pays us, owes us the sum which the person owed. In this manner, we see 
 how Bills Receivable and Cash owe us, and become debtors in place of Otis 
 & Co. 
 
 Otis & Co. are creditors, because we owe them for having paid us the 
 sum they owed, and for which we had charged them. 
 
 Note. — If we should think that we do not owe Otis & Co., because they 
 have only paid us what they owed, still we must agree in this: that, as they 
 have paid us $2,000, they ought to be credited for that sum, which amounts 
 to the same as saying we owe them ; for no one should be credited for what 
 we do not owe him. 
 
 Day-Book — January 21. 
 
 The transaction of this date in the Day-Book gives us the following 
 entry in the Journal : — 
 
 Bills Receivable Dr. {to us) 
 ( We are Dr.) To Paul Harris $325 00 
 
 Elucidation. — The sum which Harris owed us is now owed to us by 
 the note, which we call Bills Receivable. 
 
 Harris having paid us what he owed, has made us responsible to 
 him for the same sum ; for which we credit him, or for which we owe 
 him 
 
 Day-Book — January 22. 
 
 The transaction of this date in the Ikiy-Book gives us the following 
 entry in the Journal : — ^' 
 
 Cash Dr. {to us) 
 { We are Dr.) To James Truman $1,000 00 
 
 Elucidation. — Cash owes us, because in this class of property we 
 have received the sum that is paid us. Cash is always a debtor when 
 we receive it. 
 
 James Truman is a creditor, because we owe him for the sum which 
 he has paid us, or delivered to us. 
 
n 
 
 20 
 
 JOURNALIZING. 
 
 'lit 
 
 ii 
 
 i 
 
 Note. — It is very necessary to understand well the exact use and import of 
 the words debtor and creditor, because the most important part of this science 
 consists in being able to find with facility "who or what owes us," and "to 
 what or whom we owe," in all mercantile transactions. A clear understand- 
 ing of the more simple transactions will afford us great aid in disposing of 
 the more complicated. For this reason we are so particular in explaining the 
 simple entries of this month's transactions. 
 
 Day-BooK — January 22 (2d transaction of this date). 
 
 The second transaction of this date in the Day-Book gives the follow- 
 ing entry in the Journal : — 
 
 Henry Austin Dr. [to us) 
 ( We arc Dr.) To Bills Payable $1,500 00 
 
 Elucidation. — Having paid H. Austin what we owed him, he now 
 owes us for the sum we owed him, which balances his account, or makes 
 us owe each other equally. 
 
 We owe to our note (which we call Bills Payable), because it has 
 paid Austin for us; or, because our note stands out against us, holding 
 us responsible for the face of it — $1,500. 
 
 Note. — It may appear absurd to some, to say, in this transaction, that Aus- 
 tin owes us ; but he docs, nevertheless, and it may be proved thus: We owed 
 Austin $1,500, which will always appear on the credit side of his account in 
 our books ; nothing should or can obliterate the tran.saclion that made us owe 
 him. Now, then, the only way we can settle this debt, is, not by gettins: out 
 of his debt, but by getting him into our debt for the same amount ; therefore, 
 when we pay him what we owe him, he owes us for the sum paid him, which 
 makes us owe each other equally. 
 
 All the sums on the credit side of an account in our Leger, are sums 
 that we owe, and those on the debit, are sums owed to us. It is only 
 the balance, or difference, wlych is to be paid. 
 
 Day-Book — January 24. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Sundries Dr. To Merchandise. .$410 00 ♦ 
 
 S. H. Lovell $250 00 
 
 Cash 160 00 410 00 
 
 f\ 
 
 Elucidation. — The "Simdries" (Lovell and Cash) otce us, because 
 the amount that Merchandise has produced us is in them ; they are 
 therefore debtors. 
 
 We are debtor to Merchandise, or, which is the same thing, Merchan- 
 dise is our creditor, because we owe it for producing us 8410. 
 
 JOURNALIZING. 21 
 
 Day-Book — January 26. 
 Elucidation. — Similar to that of the 24th. 
 
 Day-Book — January 28. 
 
 The transaction of this date in the Day-Book gives the flillowing en- 
 tiv in the Journal : — 
 
 Bills Receivable Dr. To Sundries. .$2,121 00 
 
 To Cash $2,000 00 
 
 " Interest 121 00 2,121 00 
 
 Elucidation. — In this transaction we lend money on interest, and 
 receive a note for the amount that will be due at the end of the year. 
 The note is responsible to us for the amount; the note owes us, and 
 therefore it is debtor for the amount it is drawn for — $2,121. 
 
 We say " To Sundries," because we owe more than one — Cash and 
 Interest. 
 
 Cash is creditor, because it has paid to J. Truman for us the $2,000. 
 
 Interest is creditor, because we owe it for producing us the $121. 
 Interest is a branch of our business. The name our business receives 
 in our books is Profit and Loss ; therefore. Interest account is a branch 
 of the Profit and Loss account. 
 
 Note. — This science renders susceptible of responsibility things as well as 
 persons; that is, in the same manner that John Sims becomes our debtor or 
 creditor, so may a bag of coffee, or a box of sugar. Our Business, which we 
 entitle ''Profit and Loss,^^ may also become our debtor or creditor, like Sims 
 or the coffee. When it is in our favor, and produces us value, we owe it, and 
 it becor es a creditor ; when it goes against us, and costs us, or makes us lose, 
 it owes us, and it becomes a debtor. 
 
 Day-Book — January 30. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Bills Payable Dr. 
 
 To Cash $1,230 00 
 
 Elucidation. — The note, now paid and cancelled, was issued by our 
 partner, Mr. Marsh, before this partnership began, and it was assumed 
 by us as our own. 
 
 Bills Payable (the name we give to the note) is debtor, because it 
 owes us for having paid it what we owed it. Had we paid a person 
 what v/e owed him, he would be debtor : the note is to be treated as a 
 person. It was not T. P. Cope that we owed ; it was the note, in 
 vvhosevcr hands it might have been. 
 
 We are debtor to Cash, or Cash is the creditor, because we owe it f^)r 
 paying the note, or the sum of the note, for us. 
 
 
S'.-i »•*««..,.-. . -vgr- 
 
 POSTING. 
 
 23 
 
 » 
 
 1 f^l 
 
 POSTING. 
 
 The transactions of January having been Journalized — that is, pre- 
 pared for tlie Leger — we will now begin to post. Posting is a very 
 simple operation, being little more than copying from the journal into 
 the Leger. The object of posting is to enable us to find all concerning 
 one thing or person, from the beginning of the business to the present, 
 at one place in one book — the Leger. 
 
 Example. — Merchandise, we perceive, is concerned in most of our 
 transactions, from the beginning to the end of our business; therefore, 
 if we do not collect all relating to it at one place, we can not ascertain, 
 without much difficulty, the amount we have bought or sold : and should 
 we desire to know how much any person owes us, or we owe him, we 
 would be obliged to examine the Day-Book from the first page to the 
 last; but when his account is posted, we have only to turn to a certain 
 page appropriated to him in the Leger, where we shall find the result 
 ot all our transactions witn him. 
 
 By the aid of the Journal, we deduce from every transaction in the 
 Day-Book all that owes us, and all that we owe, which is all that passes 
 mto the Leger. The Journal, therefore, serves to convey the debtors 
 and creditors from the Day-Book to the Leger. 
 
 Note. — To the Leger belongs an Index, which is often a part of the book ; 
 but it is more convenient to have it separate. 
 
 We now proceed to show the operation of posting — transferring the 
 debtors and creditors, with their sums, from the Journal to the Leger, 
 beginning with the first entry in the Journal. 
 
 TouRNAL — January 5. 
 
 Sundries Dr. To Sundries. 
 
 Cash $38,000 00 
 
 Bills Receivable 4,670 00 
 
 Merchandise 3,125 00 
 
 Charles Lawrence 140 00 $45,935 00 
 
 To Thomas Blanchard 28,000 00 
 
 To C. C. Marsh 17,935 00 45,935 00 
 
 5 
 
 4 
 
 10 
 
 1 
 1 
 
 To Post the above Entry. — As " Sundries Dr. To Sundries*^ is only 
 a preface, the first thing that we see in the above entry is " Cash Dr. 
 
 $38,000." Cash, therefore, is the first account to be opened in the 
 Leger. We appropriate for it page 2, and write in the centre of the 
 book (or page) the word ♦' Cash," and on the sides, the abbreviations, 
 "Dr." and " Cr." 
 Note.— The term ** Dr." is always on the left, and the " Cr." on the right. 
 
 Cash being a debtor in the above entry, we must make the entry on 
 the debtor side of the account, thus : In the 1st and 2d columns, we 
 write the date ; in the 3d column, the preface of the other part of the 
 Journal entry, which is, " To Sundries ;" in the 4th column, the page 
 of the Journal from which we take the entry ; and in the 5th, the sum 
 that Cash owes us, being S3S,000. (See the Cash account in the Leger, 
 page 2.) This done, place the folio of the Cash account against the 
 word "Cash" in the Journal, to indicate that it is posted. Enter the 
 title "Cash" in the Index. 
 
 So far, we have only posted the first debtor ; the others, which are 
 Bills Receivable, Merchandise, and C. Lawrence, we post in the same 
 manner, in the order they come, but on separate pages. 
 
 We now pass to the creditors of the foregoing entry, the first of which 
 is '* Thomas Blanchard." For him we open an account on page 1, by 
 writln"- his name and the abbreviations "Dr." and " Cr." As he is a 
 creditor in the entry, we must make the entry on the creditor side of the 
 account ; and in the 1st and 2d columns we write the date ; in the 3d 
 column, the preface of the other part of the Journal entry, " By Sun- 
 dries ;" in the 4th, the folio of the Journal ; and in the 5th column, the 
 amount — $28,000. In the Journal, opposite his name, place the page 
 of the Leger, to show that it is posted. 
 
 The other creditor, C. C. Marsh, is posted in the same manner. 
 
 As the Journal presents only four different forms of entry, it will be 
 necessary to make only four distinct explanations to teach that part of 
 the science called Posting. Having given one explanation, we proceed 
 now to the second. 
 
 Journal — January 5 (sd Entry of this datej. 
 
 G Sundries Dr. To Bills Payable. .$2,310 00 
 
 1 Thomas Blanchard $1,080 00 
 
 I C. C. Marsh 1,230 00 2,310 00 
 
 To Post the above Entry. — Blanchard & Marsh being our debtors, 
 in this entry for the sums in front of their names, we return to their ac- 
 counts, already opened on page 1, and in the 1st and 2d columns, on the 
 debtor side, we write the date ; in the 3d column, the opposite part of 
 the Journal entry, " To Bills Payable ;" in the 4th, the folio of the 
 Journal from which we take the sum; and in the 5th column we write 
 the amounts— $1,080, and $1,230. 
 
 This done, we allot, for the account of " Bills Payable," folio 6, where 
 we open it by writing, as before, its name and the abbreviations " Dr." 
 and " Cr." Bills Payable standing as creditor in the Journal entry for 
 $2,310, we make entry on the creditor side of the account, by writing in 
 
{ .i; 
 
 ! |i 
 
 24 
 
 POSTING. 
 
 the first columns the date ; in the 3(1, the preface of the opposite part 
 of the Journal entry, " By Sundries ;" in the 4th column, the folio of the 
 Journal from which we take the sum ; and in the 5th, the amount for 
 which Bills Payable ought to be credited — $2,310. 
 
 6 Store-Fixtures 
 2 To Cash 
 
 Journal — January 7. 
 Dr. 
 
 $300 00 
 
 To Post the above Entry. — This entry varies from the others, be- 
 cause it consists of only one debtor and one creditor — the others have 
 more. We open an account for the debtor (Store-Fixtures) on folio 6, 
 and write on the debtor side the date and •' To Cash," the page of the 
 Journal, "1," and the amount— " $300." Cash, in the above entry, 
 is the creditor; therefore we turn to the Cash account, already 
 opened on folio 2, and write, on the creditor side, the date in the 
 1st and 2d columns, ♦''By Store-Fixtures" in the 3d, the page of the 
 Journal in the 4th, and the amount in the 5th — $300. This done, the 
 entry is posted. 
 
 We must never forget to place the folios of the accounts in the Lcgcr 
 against their names in the Journal, when they have passed into the 
 Leger. 
 
 The following Journal entry, the last the posting of which requires 
 explanation (all others being posted in the same manner as those al- 
 leady explained), we find in the — 
 
 Journal — January 16. 
 
 4 ^lerchandise Dr. To Sundries. .$3,200 00 
 
 2 To Cash $2,000 00 
 
 4 To Merchandise 1,200 00 3,200 00 
 
 To Post the above Entry. — Turn to the account of Merchandise, 
 folio 4, and on the debtor side write, as before, in the 1st and 2d col- 
 umns, the date ; in the 3d, the preface of the opposite jiart of the Jour- 
 nal entry, " To Sundries ;" in the 4th column, the page of the Journal; 
 and in the last columns, the amount for which Merchandise ought to be 
 charged or debited— $3,200. 
 
 The creditors in the above entry are Cash and Merchandise, which 
 
 * Note. — The word "By" does not appear in the Journal entries, because 
 the names of the debtors are always placed before the creditors. If their po- 
 sition was reversed, the Bij would appear, and not the To. If we make a 
 Journal entry v/ilh the debtor first in order, the form would be different, but 
 the tneaning would be the same. Thus, in the entry of January 7^- 
 
 Cash Cr. 
 
 By Store-Fixtures $300 00 
 
 This is the way the entry reads, when we post it into the Cash account in 
 the Leger. 
 
 TRIAL BALANCE. 
 
 25 
 
 are carried to the Leger by writing on their creditor sides— in the first 
 two columns, the dates ; in the 3d, the opposite part of the Journal en- 
 try, " By Merchandise ;" in the 4th, the page of the Journal the entry 
 comes from ; and in the last columns, the amounts for which they should 
 be credited. 
 
 In opening accounts in the Leger, we give to each a certain space, 
 according to the business that we think we may have with the person or 
 property ; and we generally leave some forty or fifty of the beginning 
 pages of the Leger, for private accounts, such as Cash, Mercliandise, 
 Bills Receivable, Bills Payable, Discount and Interest, Commission, 
 Profit and Loss, &c. 
 
 Having Journalized and Posted the transactions, or entries, of the 
 month of January, we will now proceed to make out a Trial Balance. 
 
 TRL\L BALANCE. 
 
 The Trial Balance is a collection of all tJae balances that appear in 
 the Leger, exhibited in two columns ; the <lebtor balances in one col- 
 umn, and the creditor balances in the other. 
 
 In proceeding to make the Trial Balance, first add and subtract the 
 columns of every account in the Leger. Do this with a pencil, in small 
 figures, settmg the balance, or difference, on the side that is the larger. 
 Next, we copy off the said balances of the accounts on a sheet of paper, 
 puttnig the debtor balances, with their names, on the debtor side, and 
 the creditor balances on the creditor side — in the following manner : 
 
 Dr. 
 
 Balances of January 30, 1850. 
 
 Cr. 
 
 2 
 
 4 
 5 
 6 
 10 
 11 
 12 
 13 
 
 Cash , 
 
 Merchandise 
 
 Bills Receivable 
 Store-Fixtures . , 
 
 C. Lawrence 
 
 O. Otis & Co.... 
 S. H. Lovell. . . 
 W.Blakeley..., 
 
 $33,205 
 
 00 
 00 
 
 5,515 
 
 8,61G! 00 
 300 I 00 
 140 j 00 
 200 I 00 
 250 00 
 
 200 
 
 00 
 
 48,426 : 00 
 
 1 
 1 
 6 
 
 7 
 
 T. Blanchard 
 
 C. C. Marsh...... 
 
 Bills Payable 
 
 Discount and Int'st. 
 
 $26,920 
 
 16,705 
 
 4,680 
 
 121 
 
 00 
 00 
 00 
 00 
 
 48,426 
 
 00 
 
^':Z^S^«^yb.; 
 
 !t 
 
 96 
 
 TRIAL BALANCE. 
 
 JOURNALIZING. 
 
 27 
 
 [ 
 
 If the entries in tlie Journal have been posted correctly to the Leger. 
 and the additions and subtractions have been made without errors, the 
 amounts of both cohimns will be equal. On the contrary, if the totals 
 are not equal, it is certain evidence that there are errors, which we must 
 endeavor to find and coriect. Wliatever may be the nature of the error, 
 it may be found by rtibrring to the Journal to ascertain if the Sundries^ 
 in every entry, are addcil c^^rrectly, or equal the amounts extended into 
 the last column ; because, if the sums of the debtors and creditors do 
 not equal each other in the Journal, they can not be equal in the Leger. 
 See, also, if all the sums have been posted, or carried to the Leger cor- 
 rectly ; and next, complete the examination by re-adding and re-sub- 
 tracting all the accounts or columns, to ascertain if the balances are cor- 
 rect. If the first examination does not produce the result desired, it 
 must be repeated until the debtor and creditor columns of the Trial 
 Balance come out equal. When completed, fold it up, and endorse it, 
 * Trial Balance of January 30, 1850." 
 
 Note. — It will be well not to leave the Trial Balance in the counting-room, 
 «rith the books, because, in case of fire, and the destruction of the books, it 
 would be almost as valuable to us as the books themselves. 
 
 The Trial Balance proves the three following important operations, 
 but no other, viz. : — 
 
 1st. It proves that the sums are carried from the Journal to the Leger 
 correctly 
 
 5^d. That the additions of the accounts in the Leger are correct; also 
 those in the Journal. 
 
 3d. That the balances (or differences) of the accounts in the Leger 
 have been calculated correctly. 
 
 Of course, a Tiial Balance docs not prove Journalizing. The prin- 
 ciple of the Trial Balance is this : In every Jr)urnal entry, the debtor 
 and creditor sums equal each other ; therefore, if those same sums are 
 transferred correctly to the Leger, it is evident that the debitor and 
 creditor balances taken from the Leger, ought also to be equal, there 
 being no other sums in the latter than those contained in the former, and 
 whatever is debtor in the Journal is debtor in the Leger. 
 
 BUSINESS OF FEBRUARY: 
 
 Embracing Entries of twenty four Transactions, relating to — Paying Notes before Due — Petty 
 Expenses — Consiguiui,' — Sliippiiii? for account of others — Failure and Compromise — Import- 
 ing Goods — Accepting Drafts— Drafts or Orders at Sight — Buying Vessels— Drawing Bills 
 of Exchange — Bartering — Accommodation Notes — Discounting Notes — Insuring Sliipments 
 and Vessels. 
 
 THE RULE. 
 
 Every person or object that owes us, is debtor Dr. 
 
 Every person or object that we owe, is creditor Cr. 
 
 Apply this rule, thus : Read and reiJcct well on the transaction ex- 
 pressed in the Day-Book, and then endeavor to discover the answer to 
 these questions : — 
 
 Who or what owes us ? And write the answer down as Dr. 
 
 Who or what do we owe ? And write the answer down as Cr. 
 
 Day-Book — February 2. 
 
 The transaction of this date in the Day-Book gives the followino- en- 
 try in the Journal : — 
 
 Bills Payable Dr. To Sundries. .$1,080 00 
 
 To Merchandise $550 00 
 
 " Cash 525 32 
 
 " Discount 4 68 1,080 00 
 
 Elucidation. — The note we now pay and cancel, was issued by Mr. 
 Blanchard before this partnership commenced, and is one of those debts 
 assumed by the firm ; consequently it became our note. (When we say 
 our notes, we mean notes of which we are the authors, or which we have 
 signed, and not notes belonging to us as our property.) The note, un- 
 der the name of Bills Payable, is debtor, because it owes us, we hav- 
 irig paid it what we owed it. Had we paid a person what we owed 
 him, he would be debtor ; the note is debtor for the same reason. 
 
 Merchandise and Cash are creditors, because we owe them for con- 
 tributing to pay our note for us. 
 
 We have an account called Discount and Interest, which we consider 
 a branch of our business, and which we treat as an individual — making 
 it debtor when it owes us, and creditor when we owe it. In this trans- 
 action. Discount paid a part of our note for us ; therefore we owe it, 
 and it is a creditor for $4.68 : Discount has produced us $4.68. 
 
ill' 
 
 S8 
 
 JOURNALIZING. 
 
 Note. — The transactions of February are not as simple as those of January. 
 If the reader finds it difficult to understand them, he had better rejournalize 
 January before he proceeds with February. 
 
 Day-BooK — FeiiRUARY 2 (2d entr>- of this date). 
 
 The second transaction of this date in the Day-Book gives the follow- 
 ing entry in the Journal : — 
 
 Store-Expenses Dr. 
 
 To Cash $G5 00 
 
 Elucidation. — The various incidental expenses of the store, such as 
 rent, clerk-hire, advertising, fuel, gas, &:c., form a branch of our busi- 
 ness, which we call " Store-Expenses." 
 
 Store-Expenses are debtor, because they owe us what they have cost 
 us. We are debtor to Cash for liaving paid the amount of those ex- 
 penses for us ; therefore, that branch of our business called Store-Ex- 
 penses is the debtor, and Cash is the creditor. 
 
 Day-Book — February 4. 
 
 The transaction of this date in the Day-Book gives the following en 
 try in the Journal : — 
 
 . .. Shipment to New Orleans Dr. To Sundries. .$1,822 22 
 
 ^-^ To Merchandise $1,722 22 
 
 " Cash 100 00 1,822 22 
 
 Elucidation. — The properly shipped in this transaction owes us for 
 the amount it has cost us in its jnesent situation, which is $1,822.22. 
 The consignees in New Orleans do not owe us, because we have not 
 sold the goods to them : the goods are still ours, being merely sent to 
 them to be sold for us. No one can owe us for anything which is ours ; 
 there must be a change in the ownership. 
 
 We owe to Merchandise and Cash for having contributed their sums 
 in making up the shipment. 
 
 When the property shipped belongs to us, we give it the title of 
 ** Shipment" to such a place, or " Consignment" to such a person. 
 
 Day-Book — February 9. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Sundries Dr. To William Blakeley. .$200 00 
 
 Cash $100 00 
 
 Profit and Loss 100 00 200 00 
 
 Elucidation. — " Profit and Loss" is the name which our business re- 
 ceives in our books. Our business, in this transaction, goes against us, and 
 causes our losing $100 ; therefore it owes us, and consequently is debtor. 
 
 Cash is debtor, because in it W. Blakeley has paid us half the debt he 
 owed. 
 
 JOURNALIZING. 29 
 
 W. Blakeley is creditor, because we owe him, he having paid us what 
 he owed, and we having accepted half of his debt for the whole. The 
 sum that Blakeley owed us before, Profit & Loss and Cash owe us now. 
 
 Day-Book — February 12. 
 
 The transaction of this date in the Day-Book gives the followino- en- 
 try in the Journal : — 
 
 Merchandise Dr. To Sundries. .$1,240 00 
 
 To Charles Lawrence $ 140 00 
 
 " Bills Receivable 1,000 00 
 
 " Cash 100 00 1,240 00 
 
 Elucidation.-— Merchandise has cost us $1,240, for which it owes us; 
 and therefore it is debtor. 
 
 C. Lawrence is creditor, because we owe him for havino- drawn on 
 him for $110, which he will pay; if not, the draft will be returned to 
 us, and another entry will be required. 
 
 We say nothing of the draft, because it is not in our favor, nor is it 
 against us ; we do not owe it, nor does it owe us. 
 
 The note which we held against O. Otis & Co., and which owed us, 
 has now paid us what it owed, it having paid for us part of Haven & 
 
 Smith's bill : therefore we must credit the note under its former name 
 
 *« Bills Receivable." 
 
 Cash is creditor, because we owe that species of property for paying 
 the sum of $100 for us toward this purchase. 
 
 Day-Book — February 12 (2d Entry of this date). 
 
 The second transaction of this date in the Day-Book gives the follow- 
 ing entry in the Journal : — 
 
 William Blakeley Dr. 
 
 To Bills Receivable $500 00 
 
 Elucidation. — Mr. Blakeley is debtor, because he owes us for the 
 amount of his note which we hold against him, which is due and not 
 paid. 
 
 The note is creditor, because its time having expired, it has paid us 
 by giving us a new claim on its author — W. Blakeley. 
 
 Note.— When notes become due and remain unpaid, the best way is to 
 charge their amounts to their drawers, or those who ought to pay them ; for 
 It is then that those parties owe us. Before the notes were due, we could de- 
 mand nothing of the persons ; the notes alone were responsible. 
 
 Day-Book — February 13. 
 
 The transaction of this date in the Day-Book gives the followino- en- 
 try in the Journal : — ° 
 
!'! 
 
 f 
 
 f.i;' 
 
 I I 
 
 80 JOURNALIZING. 
 
 Merchanaise Dr. To Sundries. .$6,533 11 
 
 To Walter Howard $4,888 89 
 
 " Bills Payable 1,222 22 
 
 " Cash 422 00 6,533 11 
 
 Elucidation. — Merchandise owes us for the amount it has cost us, 
 which consists of its first cost in London, the amount of duties, and the 
 freight — the last two being ])aid here. 
 
 W. Howard is creditor, because we owe him for the amount of the 
 goods he sends to us according to our request. 
 
 In changing the oei,100 sterling to dollars, the c£l is calculated at the 
 old par value — S4.44. We agree with many in thinking that a value 
 nearer the true one should be used in transactions involving English 
 money ; but it is difficult to change a custom. The present par value 
 of the pound sterling is $4.84. (See calculations at the end of this book.) 
 
 Bills Payable are creditor, because we owe our notes which we have 
 issued against us, in payment of the duties : the notes pay the duties 
 for us. 
 
 Note. — Formerly, the revenue-law allowed credit on duties, and notes or 
 bonds were taken at the customhouses; but the duty on imports is now paya- 
 ble in cash only. 
 
 To Cash we owe, because it has paid the freight and charges on the 
 goods for us. Cash, therefore, is a creditor. 
 
 Day-BooK — February 13 (2d Entry of this date). 
 
 The second transaction of this date in the Day-Book gives the follow- 
 ing entry in the Journal : — 
 
 Sundries Dr. To Sundries. 
 
 Bills Receivable $251 37 
 
 Profit and Loss 250 00 $501 37 
 
 To William Blakeley 500 00 
 
 " Interest 1 37 501 37 
 
 Elucidation. — First, read the transaction carefully, with a view to 
 find what owes you ; and whatever you think owes you, write it down 
 as Dr. Then read again, to find what you owe; and write that down 
 
 as Or. 
 
 The draft or order drawn on S. H. Lovell, and accepted (agreed to), 
 owes us for the amount it shows, including the $1.37 for interest. Our 
 claim for the $251.37 consists in the draft, which must owe us until its 
 time expires; Lovell may then owe us, but he does not now. 
 
 Our business, under the name of 'Profit and Loss, owes us, because 
 it has been the cause of the loss we have sustained in this settlement 
 with W. Blakeley. 
 
 We owe to Interest, or Interest is a creditor, because that branch of 
 our business has produced us $1.37, which sum is included in the note. 
 
 JOURNALIZING. 
 
 dt 
 
 Wm. Blakeley is creditor, because we owe him for paying us what he 
 owed — the balance of his account. He has paid us in full, although we 
 have received only half, because we have accepted that half for the 
 whole ; he therefore must be credited for what he owed us. 
 
 Day-Book — February 16. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Walter Howard Dr. 
 
 To Bills Payable $4,444 44 
 
 Elucidation. — In accepting this draft we become responsible for its 
 amount ; therefore W. Howard owes us. To draw on us is to order 
 us to pay a certain sum ; and accepting the draft is agreeing to do so. 
 
 Bills Payable, the name given to the draft that we have accepted, are 
 creditor, because we owe the draft which we have issued against us, and 
 which we shall pay at its maturity, in whosever possession it may be. 
 
 Note. — To accept a draft, is to write your name across its face. If the draft 
 reads so many days after sight, the date should be with the signature, thus: — 
 
 "Accepted, February 16, 1850. 
 
 "Blanchard & Marsh." 
 
 Day-Book — February 17. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — 
 
 Bills Payable Dr. 
 
 To Merchandise $1,500 00 
 
 Elucidation. — The note, in this transaction, was issued by us some 
 time since, and held us responsible ; now we have paid it, it owes us, 
 and becomes our debtor. 
 
 Merchandise is the property in which we paid the amount of the note ; 
 therefore we owe it for paying our note for us. 
 
 Note. — We have said, that when we pay a person a sum that we owed him, 
 he owes us, or becomes our debtor ; so, when we pay our note, for the same 
 reason it owes us, or becomes our debtor. 
 
 Day-Book — February 20. 
 
 The transaction of this date in the Day-Book gives us the foUowinor 
 entry in the Journal : — 
 
 Walter Howard Dr. To Sundries.. $2,974 29 
 
 To Merchandise $2,730 00 
 
 " Cash 160 15 
 
 " Commission 84 14 2,974 29 
 
 Elucidation. — W. Howard owes us, because the goods were shipped 
 at his request, or according to his order ; he therefore is debtor. 
 

 
 
 I i 
 
 It 
 
 32 JOURNALIZING. 
 
 To McrcliaiKlise we are inclebtetl, because we have sold it, and it lias 
 produced us $2,730, for which amount Howard owes us. 
 
 To Cash we are indebted, because it paid the amount of insurance 
 and other expenses for us. 
 
 To Commission, as a branch of our business, we are indebted, because 
 it produces us, in this transaction, $84.14. 
 
 The amount of the creditor sums in the above entry equals the debtor 
 guni — that is, the sum that Howard owes us. As we have before said, 
 the debtor and creditor sums will and must always be equal. 
 
 Day-Book — February 21. 
 
 The transaction of this date in the Day-Book gives us the following 
 entry in the Journal : — 
 
 Merchandise T>r. 
 
 To Merchandise $1»530 00 
 
 Elucidation-. — There are, in this transaction, two kinds of merchan- 
 dise ; one we have bought, and the other we have sold. That which we 
 have bouirht, owes us the value it has cost us ; and to that we have sold, 
 we owe for the value it has produced. One kind is debtor, and the 
 other is creditor. 
 
 Day-Book — February 21 (2d Entry of this date). 
 
 The transaction of this date in the Day-Book gives us the following 
 entry in the Journal : — 
 
 Bills Receivable Br. 
 
 To Bills Payable $800 00 
 
 Elucidvtion. — In this transaction, we exchange notes with Mr. Ber- 
 nard. His note is in our favor, is called Bills Receivable, and oices us 
 for the sum it is drawn for. ,, , 
 
 Our note stands out against us, is called Bills Payable, and we owe %t 
 for the sum it is drawn for. 
 
 Note.— Notes that originate in this wav, are made and exchanged for the 
 purpose of fretting endorsers and having the notes discounted. In the above, 
 we endorse for Mr. Bernard, and he endorses for us. 
 
 Day-Book — February 23. 
 
 The transaction of this date in the Day-Book gives us the following 
 entry in the Journal : — 
 
 gu^^aries Dr. To Merchandise. -$1,620 00 
 
 Bills Receivable ^ ^0^ 00 
 
 Cash 120 00 
 
 .Tame'sTrum'an • 1>QQQ OQ I'^^O 00 
 
 Elucidation. — Here, as there are more than one debtor, we head 
 them with the word ** Sundries." 
 
 JOURNALIZING. * ' 33 
 
 Bills Receivable is the title given to. the note that we hold against J. 
 Truman. This note owes us $500. 
 
 Cash owes us for the amount paid to us in that kind of property. 
 
 J. Truman owes us, because the balance of the bill of goods sold to 
 him remains unpaid. 
 
 To Merchandise we acknowledge ourselves indebted, because it has 
 produced us the sum of $1,620. 
 
 Day-Book — ^February 24. 
 
 The transaction of this date in the Day-Book gives us the followino' 
 entry in the Journal : — 
 
 Sundries , Dr. To Bills Receivable. .$2,000 00 
 
 Cash $1,969 00 
 
 Discount 31 00 2,000 00 
 
 Note. — To get a note discounted, means to obtain the money for it before it 
 as due. The bank deducts from the amount of the note a certain sum for in- 
 terest or discount, according to the time the note may have to run, and pays us 
 the balance in cash. 
 
 Elucidation. — Cash owes us, because the sum the bank has paid us, 
 is paid to us in that property. The kind of property called Cash, owes 
 us to-day $1,969 more than it owed us yesterday, because we have so 
 much more value invested in it. 
 
 Discount has cost us, in this transaction, $31 ; therefore it owes us. 
 
 The note has paid us the sum it owed ; therefore it is a creditor. Al- 
 though we do not get the face of the note, we consent to take less ; and 
 therefore the note must be credited for the whole amount it owed — 
 $2,000. 
 
 It will be seen that Cash and Discount are the objects which owe us 
 now, the amount which Bills Receivable owed us before. 
 
 Day-Book — February 25. 
 
 The transaction of this date in the Day-Book gives us the following 
 entry in the Journal : — 
 
 Schooner Josephine Dr. To Sundries. .$5,000 00 
 
 To Walter Howard $2,222 22 
 
 " Exchange 177 78 
 
 " Cash 2,600 00 5,000 00 
 
 Elucidation. — The schooner^ owes, and is debtor, because she has 
 cost us $5,000. 
 
 We are debtor to W. Howard, because we have drawn on him for 
 $2,222.22. To draw on a person, is to order him, by means of a written 
 order, to pay a certain sum for us. 
 
 Exchange is creditor, because that branch of our business denomina- 
 ted Exchange, has produced us $177.78. We sold the draft, or bill of 
 exchange, at a premium, which we consider a gain arising from the 
 
 5 
 

 I {'il-t 
 
 34 JOURNALIZING. 
 
 advantageous position of funds. The premium goes to Capt. Davis, in 
 part payment of the schooner. 
 
 Cash is creditor, because we owe it as a property for pavino- part of 
 the $5,000. i ^ ol 
 
 Note 1.— Sometimes the gain or loss, arising from the sale of drafts or bills 
 of exchange, belongs to the one who draws, and sometimes to the party drawn 
 on, or remitted to : this depends on who placed the funds to draw against, and 
 other circumstances. In this series of transactions, we shall suppose the pre- 
 mium, or discount, to be the gain or loss of the drawer, unless otherwise ex- 
 pressed. 
 
 Note 2. — It should be understood that, when we see it stated that exchange 
 on England is at 8 or 9 per cent, premium, it is really only about par. 
 The premium, being calculated on the old par value of $4.44 to the £, must 
 include, under the name of premium, the difference between the nominal value 
 (S4.44) and the true value ($4.84)— about 40 cents. 
 
 Day-Book — February 26. 
 
 The transaction of this date in the Day-Book gives the following en- 
 try in the Journal : — ^ 
 
 William Evans Dr. 
 
 To James Truman $1,000 00 
 
 Elucidation. — We receive an order at sight on Wm. Evans, who 
 accepts but does not pay it ; and the order being due, it is charged in 
 account by mutual consent. Evans owes us, because the order is due 
 and not paid. 
 
 To J. Truman we owe for the amount of the order he has given us 
 on W. Evans. 
 
 Note. — We see in this transaction, also in the one of the 25th, an impor- 
 tant paper received in one case, and delivered in the other, which makes no 
 part of the Journal entry: the reason is, that these papers do not owe us, nor 
 do we owe them. Do not, therefore, trouble yourself with any such rule as, 
 ** What you receive is debtor to what you give." 
 
 Day-Book — February 27. 
 
 The transaction of this date in the Day-Book gives the followino- en- 
 try in the Journal : — 
 
 Shipment to Port au Prince Dr. To Sundries.. S3,908 00 
 
 To Merchandise $1,200 00 
 
 " Bills Payable 2,190 00 
 
 " Charles Lawrence 288 00 
 
 " Schooner Josephine 230 00 3,908 00 
 
 Elucidation. — The shipment or consignment owes us, because it has 
 cost us the amount of the various items of which it is composed. 
 
 To the creditors, being more than one, we give the preface of " Sun- 
 dries." 
 
 H. B. Walker & Co., to whom the goods are consigned, do not owe 
 us, because the goods are still ours. 
 
 TRIAL BALANCE. 
 
 35 
 
 To Merchandise we are indebted f )r contributing toward the ship- 
 ment the sum of $1,200 — which goods are taken from our store. 
 
 To Bills Payable we owe for the amoufit of our note given to Dallet 
 & Co., in payment of our purchase of them. 
 
 To our schooner we owe for the value of the freight (calculated in ad- 
 vance) on the goods, which she has produced or saved us. 
 
 Day-Book — February 28. 
 
 The first transaction of this date in the Day-Book gives the following 
 entry in the Journal : — 
 
 Shipment to Port au Prince Dr. To Sundries. .$201 56 
 
 To Bills Payable $81 56 
 
 " Cash ' 120 00 201 56 
 
 Elucidation. — The shipment owes us, because it has cost us for the 
 insurance, and for various expenses in shipping the goods. 
 
 Bills Payable are creditor, because we owe our note, given to the in- 
 surance company in payment for the premium or cost of insurance. 
 
 Cash is creditor, because we owe it for paying for us the expenses. 
 
 Day-BooK — February 28 (2d Entry of this date). ♦ 
 
 The second transaction of this date in the Day-Book gives the follow- 
 ing entry in the Journal : — 
 
 Schooner Josephine Dr. 
 
 To Cash $26 00 
 
 Elucidation. — The insurance is an expense on the schooner, and she 
 owes us for it ; therefore she is debtor. 
 
 Cash is creditor, because it was cash that paid the insurance for us. 
 
 r? 
 
 1 
 
 
 TRIAL BALANCE. 
 
 Having Journalized the transactions of February, the pupil will now 
 proceed to post — that is, to enter in the Leger from the Journal, as ex- 
 plained at the end of January. When the posting is finished, he will 
 make a Trial Balance. In adding the accounts in the Leger, the sums 
 of January must be included. The following is the Trial Balance of 
 the Leger at this date ; — 
 
 U' 
 

 
 
 36 
 
 Db, 
 
 TRIAL BALANCE. 
 
 Balances of February 28, 1850. 
 
 Cr. 
 
 2 
 
 4 
 
 5 
 
 6 
 
 7 
 
 8 
 
 8 
 
 11 
 
 12 
 
 13 
 
 16 
 
 16 
 
 Cash 
 
 $31,120 
 
 2,905 
 
 8,987 
 
 300 
 
 4,951 
 
 65 
 
 350 
 
 200 
 
 250 
 
 307 
 
 1,822 
 4,109 
 
 53 
 89 
 37 
 00 
 00 
 09 
 00 
 00 
 00 
 62 
 
 22 
 56 
 19 
 
 1 
 1 
 6 
 7 
 9 
 9 
 10 
 14 
 
 T. Blanchard 
 
 C. C. Marsh 
 
 Bills Payable 
 
 Discount and Int'st. 
 
 Commission 
 
 Exchange 
 
 C. Lawrence 
 
 W.Evans 
 
 $26,920 
 
 16,705 
 
 10,838 
 
 96 
 
 84 
 
 177 
 
 288 
 
 260 
 
 00 
 
 00 
 00 
 
 05 
 14 
 78 
 00 
 00 
 
 19 
 
 Merchandise 
 
 Bills Receivable . . . 
 
 Store-Fixtures 
 
 Schooner Josephine 
 
 Store-Expenses — 
 
 Profit and Loss — 
 
 0. Otis & Co 
 
 S.H. Lovell 
 
 W. Howard 
 
 Shipment to New ) 
 Orleans \ 
 
 Shipment to Port } 
 au Prince ^ 
 
 • y^ 
 
 55,369 
 
 55,369 
 
 
 
 
 
 BUSINESS OF MARCH: 
 
 Embracing Entries of twenty-six Transactions, relatinpr to — Delivering per Onler— Receiving 
 Consignments — Paying Charges on Conaignments — Selling Consignments — Sellinj; at Auc- 
 tion — Collecting Notes and Acceptances — lieceiving Notes with Interest— Allowing for 
 DamageH in Sales — Paying An-eptances — Closing Consignments — Rendering Acrount Sale* 
 — Receiving Account-Sales— Buying in Joint Account— Selling in Joint-Acrount— Hereiv- 
 ing our Note before Due — Paying Money to a Partner — Buying Bills of Kxrhanf.'e — Closing 
 Account of Sales iu Joint- Account — Rendering Account Sales of Merchandise in Joint- Ac- 
 count 
 
 THE RULE. 
 
 Dr. 
 
 Cr. 
 
 Every person and thing that oives «* is 
 
 Every person and thing that we owe is 
 
 The best method of applying the above rule, is the following: — 
 First, understand well the nature of the transaction, make yourself 
 
 familiar with its details, consider yourself the person that performs it 
 
 Dr to whom it occurs, and then ask yourself — 
 
 Who or what owes me ? And write down the answer as the Dr. 
 
 Who or what do I owe 1 And write down the answer as the Cr. 
 
 The sums that belong to these answers are those that the person or 
 whing in reality owes us, and those that we owe. 
 
 JOURNALIZING. 
 Day-Book — Transaction of March 2. 
 
 37 
 
 Elucidation.-— C. Lawrence owes us in this transaction, because on 
 his order we delivered the goods to W. Blakeley. 
 
 Merchandise is creditor, or we owe to Merchandise, because it pro- 
 duces us value to the amount of $288. 
 
 When we pay a certain sum by order of any person, it is evident that 
 that act makes him owe us. The order is no more than a receipt to 
 show that we have executed it. It has not the requisites to make it a 
 note in our favor or against us ; it was not issued by us with our signa- 
 ture, as it woiild have been had it been our acceptance, nor does it 
 promise to pay us its sum at any future time. 
 
 Day-Book — 2d Transaction of March 2. 
 
 The transactions relative to which no explanations are given, are con- 
 sidered sufficiently simple not to require them, provided the pupil has 
 studied with attention those of January and February. 
 
 Day-Book — Transaction op March 3. 
 
 Elucidation. — The title of " De Nones Consignment" is given to 
 the goods that Mr. De Nones has sent to us to be sold for him, or f()r 
 his account. This consignment can owe us only for the expenses that 
 have been incurred on it since in our hands — the freight and duties. 
 
 Cash is creditor, because in it we paid the freight and duties. 
 
 We can not credit J. De Nones for the amount of the goods he con- 
 signs to us ($2,700), because we do not owe him that sum. The goods 
 are still his ; we have neither bought nor ordered them, and we can not 
 owe a person for what remains his. When we have sold the consign- 
 ment, and rendered to him an account of the sales, then we may owe 
 him the net proceeds, but not before. 
 
 Day-Book — Transaction of March 5. 
 
 Elucidation. — The acceptance which we have held until this date 
 against Otis & Co., became due this day, and is paid in cash. 
 
 Cash now owes us for the sum that heretofore the acceptance owed; 
 therefore Cash is debtor. 
 
 The acceptance having paid us what it owed us, becomes a creditor. 
 
 Day-Book — 2d Transaction of March 5. 
 
 Elucidation. — The balance of O. Otis & Co.'s account, in our favor, 
 is $700, which is considered due in cash ; therefore, in giving us a note 
 at sixty days, it should be drawn for the sum that will be due sixty days 
 hence — that is, the note should include interest correspondino- to its 
 credit or time. The note owes us for the said balance, and alscTfor the 
 amount of interest; for both of which it is drawn or written. 
 
 Interest is creditor, because we owe it for producing us $7.35. 
 
»' ■f 
 
 38 
 
 JOURNALIZING. 
 
 JOURNALIZING. 
 
 39 
 
 ii 
 
 f1 
 
 
 1 
 
 Note. — When Interest is in our favor, it is a creditor, because we owe it for 
 the value it produces. When it is against us, it is a debtor, because it owes us 
 for the sum it costs us. 
 
 To O. Otis & Co. we are indebted for the balance of their account, 
 which they liave paid us in their note ; for which balance the note is 
 now our debtor. 
 
 Day-Book — Transaction of March 7. 
 
 Elucidation. — In this transaction, we agree to an allowance in favor 
 of C. Lawrence, on a purchase of a former date. The amount of the 
 allowance we do not pay ; therefore wc owe him, and he becomes a 
 creditor for the same. 
 
 Day-Book — Transaction of March 9. 
 
 Elucidation. — The acceptance now paid received the title of " Bills 
 Payable," when we accepted it (February IG), since which time it has 
 stood out against us as our note. This acceptance now owes us, be- 
 cause we have paid it what we owed it. 
 
 W. Howard does not owe us in this transaction, because the draft, 
 now paid, was our acceptance. At the time we put our name on it, he 
 began to owe us, and then became our debtor. 
 
 Da\-Book — Transaction' of March IC. 
 
 Elucidation. — Commission owes us nothing in this transaction, be- 
 cause in reality we sell the goods for only the sum that we receive for 
 them — being the net proceeds, $1,233.27 ; for which sum Cash owes us, 
 and we owe to the consignment. 
 
 Note. — Ii is not necessary to give, in the Day-Book, the particulars of the 
 quantity, quality, and prices, of goods sold — these belong more to the Sales- 
 Book than the Day-Book ; but as it is not thought necessary to continue the 
 Sales-Book beyond a {gw examples, the former book is rendered more complete 
 by its embracing some description of the goods sold, particularly when those 
 goods are not ours. 
 
 Day-Book — 2d Transaction of March 10. 
 
 Elucidation. — To receive merchandise to our account, means that 
 we have bought it, or taken it as our own. And now, since the olives 
 are ours, we give them the title of Merchandise ; and as they owe us, 
 we call them debtor. 
 
 To the consignment we owe, because it has produced us the olives, 
 or their value. 
 
 Day-Book — Transaction of March 12. 
 
 Elucidation. — The merchandise, or olives, sold to P. Harris in this 
 entry, does not belong to the consignment of De Nones, having been 
 made ours in a previous entry. 
 
 Day-Book — Transaction of March 14. 
 
 Elucidation. — In order to ascertain the amount of the sales of this 
 consignment, and to see if it agrees with the Commission Sales-Book, it 
 is necessary to post all the sums belonging to the consignment, from the 
 Journal to the Leger, and to compare the Leger account with the ac- 
 count in the Sales-Book. 
 
 The entry under this date in the Day-Book shows that we have made 
 an ** Account-Sales" of the goods belonging to J. De Nones, for the 
 purpose of closing the account of those goods, and transftjrring the bal- 
 ance to accounts where it more properly belongs. 
 
 In Journalizing this entry, we say that we owe to the following:— 
 
 To Commission we owe, because it is a branch of our busi- 
 ness, and which has produced us $215 71 
 
 To Store-Expenses we owe, because that branch of our 
 business has produced us the amount of our charges for 
 storage, &c 52 24 
 
 To Joseph De Nones we owe for the net proceeds of the 
 
 goods we have sold for him 3,531 32 
 
 Amount that we owe 3,799 27 
 
 which makes the balance of the account. 
 
 Now, then, the consignment must owe us, and become debtor for the 
 balance that appears on its credit side, because we divide said balance, 
 and carry it to the credit of the different accounts above expressed. This 
 last entry, when posted, will close the consignment. 
 
 The "Account Sales," which we render to J. De Nones, will be found 
 among the Forms, at the end of this volume. 
 
 Day-Book — Transaction of March 16. 
 
 Elucidation. — Lockhart & Arrott owe us for the amount of the net 
 proceeds of our shipment to them, they having sent us an account of the 
 sales without remittance of funds. 
 
 " Shipment to N. Orleans" being the title we gave the goods when we 
 shipped them, we should now, in speaking of that property, use the 
 same name. Shipment to New Orleans is creditor, because we owe it 
 the sum it has produced us, and for which L. & A. are responsible. 
 
 Note. — Here we have the same transaction as that of the previous entry, 
 with the difference only, that in one case we send away an "Account-Sales," 
 and in the other we receive one. 
 
 Day-Book — Transaction of March 18. 
 
 Elucidation. — Cash owes us for the sum that P. Harris has advanced 
 to us ; and we owe him, because we have not yet used the money for the 
 object for which he gave it to us. 
 
■** i 
 
 I 
 
 I 
 
 M 
 
 11 
 
 ■ 
 
 \ 
 
 ^ • 
 
 40 
 
 JOURNALIZING. 
 Day-Book — Transaction op March 20. 
 
 Elucidation. — We give the title of "Merchandise Company 1," or 
 ** Company 1 Merchandise," to the flour which we have bought in 
 joint account with Mr. Harris — a name to distinguish it in our books 
 from goods that belong solely to us. 
 
 The flour does not owe us for its whole cost, but only for the cost of 
 our half of it— $2,000 : it is not responsible to us for Mr. Harris's half, 
 or what it costs him. 
 
 P. Harris owes us for his part of the purchase, because we paid for 
 his part of the flour. 
 
 Day-Book — Transaction op March 21. 
 
 Elucidation. — The flour costs us only half of the amount received, 
 and it can owe us no more than our interest in it — $1,187.50. We have 
 received twice that amount ; but Journalizing is not to show what we 
 receive or deliver, but what are our debtors and creditors. 
 
 Mr. Harris is creditor, because we owe him for our half of the flour : 
 he furnishes our half for us. Were we to credit Mr. Harris for all this 
 flour, we would be making the same entry as if we had bought it all of 
 hini; which is not the case, because, it being on joint account, half re- 
 mains his. It being in our store makes no difference in the proprie- 
 torship. 
 
 Day-Book — Transaction op March 23. 
 
 Elucidation. — In the transaction of this date, we receive our own 
 note in part payment for the flour ; and as the note is not due, we are 
 allowed discount for the time it wants of being due. Discount is 
 
 therefore in our favor, and must be credited for what it produces us 
 
 $9.10. 
 
 Bills Payable owes us for the amount it was drawn for — $2,100 — al- 
 though we do not give that sum for it, yet with what we give we pay' 
 the whole. 
 
 The flour, under the name of «* Company 1, Merchandise," is cred- 
 itor, because it produces us $3,000. 
 
 Note. — Accounts of merchandise in company, or in joint account, generally 
 show on the debtor side only half of the amount purchased, while on the 
 credit side they show the tota'l sales. This may appear irregular, but it is not 
 so. The property can not be debtor (that is, owe us) for more than cur inter- 
 est in it, nor can it be debtor in our books for what it may have cost the other 
 partner. But when we sell the goods, they produce into our hands the total 
 amount of the sales, and consequently we have a very good reason for credit- 
 ing them for the same. 
 
 Day-Book — Transaction op March 2G. 
 
 Elucidation. — The bill of exchange, which we have bought for the 
 purpose of making a remittance to London, owes us for its face only, 
 and not for the premium we have paid on it. 
 
 Exchange, as a branch of our business, owes us for what it has cost 
 
 JOURNALIZING. 
 
 41 
 
 us — being, in this case, the difference between the old par value of the 
 <£, and the amount the <£ in Liverpool, sells for here. 
 
 Note. — It should be borne in mind, that the premium here paid is only an 
 apparent premium— a premium on the £1 at $4.44. If bills on England were 
 bought or sold by the rate of $4.84 as the par value, the exchange in the above 
 transaction would be at a discount, instead of a premium. 
 
 When we buy a bill of exchange, it is for the purpose of placing 
 funds at some distant point, without the necessity of remitting specie or 
 merchandise. It is the method of remitting generally preferred, provi- 
 ded the rate of exchange be not too high. 
 
 Day-Book — Transaction of March 27. 
 
 Elucidation. — Wm. Evans owes us for the amount of the order, 
 which being at sight, and accepted, brings him immediately into our 
 debt. It is agreed that it shall be passed to his account, instead of being 
 paid in cash, because by former transactions we are owing him. 
 
 Day-Book — Transaction op March 30. 
 
 Elucidation. — Before making the closing entry under this date, all 
 the entries in the Journal, relating to the Company 1 Merchandise, must 
 be posted, and the sums on the credit side of the account examined in 
 the Day-Book, in order to see if they are actual sales, or only transfers. 
 This done, we make the following calculation, which is the origin of the 
 Day-Book entry of March 30th : — 
 
 Total sales (amount of the credit side of the account) $7,850 00 
 
 Stoiage charged by us, and any other charges against 
 
 the goods if we had them $ 39 00 
 
 Our commission for selling, at 2^ per cent 196 25 
 
 Amount of the expenses on the flour 235 25 
 
 which we subtract from the total sales, and which gives us 
 
 the amount of the net proceeds 7,614 75 
 
 Half of which belongs to Mr. Harris 3,807 37 
 
 And our half is 3,807 38 
 
 From this we take the cost of our half (found on the debtor 
 
 side of the account), which is 3,187 50 
 
 Showing our net gain in this business to be 619 88 
 
 Having explained, as above, the origin of the Day-Book entry, we 
 proceed now to show how it is to be disposed of in the Journal : — 
 
 To Commission we owe for producing us $196 25 
 
 To Store-Expenses we owe for producing us 39 00 
 
 To P. Harris we owe for his half of the net proceeds of the 
 
 flour in our hands 3,807 37 
 
 To Profit and Loss (name of our business) we owe for our 
 
 half of the net gain , 619 88 
 
 Total that we owe 4,662 50 
 
 6 ■ 
 
V i 
 
 m 
 
 
 
 42 
 
 TRIAL BALANCE. 
 
 This should be the balance of the account of Company 1 Merchandise, 
 because we can owe no more or less, after making the above calcula- 
 tion, than we did before ; but we may owe different objects. 
 
 Company 1 Merchandise is debtor, because it owes us for the amount 
 we transfer from its credit to the credit of other accounts, where it 
 more properly belongs. We ought to make this transfer of the balance, 
 because the goods have all been sold, and the preceding calculation 
 shows us that we owe that balance to others. 
 
 The " Account-Sales" of this flour, made out to be rendered to Mr. 
 Harris, will be found among the Forms at the end of the book. 
 
 ill 
 
 * 
 
 i: 
 
 TRIAL BALANCE. 
 
 The student will now, having posted all the entries in the Joarna?, 
 proceed to make out the Trial Balance of March 30, in the manner ex- 
 plained at the end of January and February. 
 
 The following is the Trial Balance, showing the balances of the ac- 
 counts at this date : — 
 
 Dr. 
 
 Balances of March 30, 1850. 
 
 Cr. 
 
 2 
 
 4 
 
 5 
 
 6 
 
 / 
 
 8 
 
 9 
 
 10 
 
 12 
 
 13 
 
 14 
 
 16 
 
 Cash..- 
 
 Merchandise 
 
 Bills Receivable... 
 
 Store-Fixtures . 
 
 Schooner Josephine 
 
 Store-Expenses 
 
 Exchange 
 
 C.Lawrence 
 
 S. H. Lovell 
 
 W. Howard 
 
 Lockhart & Arrott. 
 
 Shipment to Port \ 
 au Prince 
 
 $28,787 
 
 4,596 
 
 11,392 
 
 300 
 
 4,951 
 
 18 
 
 177 
 
 165 
 
 395 
 
 307 
 
 2,020 
 
 4,109 
 
 57,221 
 
 33 
 
 39 
 79 
 00 
 00 
 76 
 78 
 00 
 00 
 62 
 00 
 
 56 
 
 23 
 
 1 
 1 
 6 
 
 7 
 
 8 
 
 9 
 
 11 
 
 14 
 
 16 
 
 T. Blanchard 
 
 C. C. Marsh 
 
 Bills Payable.... 
 
 Discount and Int'st 
 
 Profit and Loss . . 
 
 Commission 
 
 P. Harris 
 
 J. De Nones 
 
 Shipment to New 
 Orleans 
 
 $26,920 
 
 , 16,405 
 
 4,293 
 
 112 
 
 269 
 
 496 
 
 4,994 
 
 3,531 
 
 197 
 
 00 
 00 
 78 
 50 
 88 
 10 
 87 
 32 
 
 78 
 
 57,221 
 
 23 
 
 JOURNALIZING. 
 
 BUSINESS OF APRIL: 
 
 Embracing Entries of forty Transactions, relating to — Paying Rent — Receiving Retams 
 
 Receiving Consignments free of Charges — Selling on Commission — Renevping Notes Al- 
 lowing to ourselves for Damages — Shipping on our Account — Closing Consignment — Baying 
 in Joint- Account — Exchanging Uncurrent Money — Renewing our Notes — Transfening Par- 
 chase at Auction — Drawing Prize — Receiving Account-Sales with Returns — Taking a 
 Consignment to our Account — Receiving Freights of our Vessel — Drafts remitted us for Col- 
 lection — Buying Drafts per Order and for Remittance — Investing Funds in Drafts — Buying 
 Specie— Allowing Interest on Partner's Capital— Rendering Accounts- Current-Closing Ac- 
 counts — Correcting Errors, &c., &c. 
 
 THE RULE. 
 
 Question yourself, in every transaction, thus : — 
 
 What owes us ? For that alone is Dr. 
 
 What do we owe ? For that alone is Cr. 
 
 Day-Book — Transaction op April 2. 
 
 Elucidation. — The cotton that we receive, in this transaction, owes 
 us as much for the freight as for its first cost in New Orleans. It is there- 
 fore deotor for $2,32v/. 
 
 To Lockhart & Arrott we are indebted for the amount of the cotton 
 shipped to us by our request. This invoice is returns for a shipment 
 made to Lockhart & Arrott, February 4th ; but we do not owe and credit 
 the shipment in this transaction, because it was credited when we re- 
 ceived the account-sales, March 16. 
 
 Day-Book — Transaction of April 3. 
 
 Elucidation. — In this transaction, there is neither debtor nor cred- 
 itor ; that is, nothing owes us, and we owe nothing. We can not, there- 
 fore, make any Journal entry. The coffee still belongs to Mr. Fisher. 
 We have not bought it of him, nor agreed to pay him a certain sum ; 
 therefore we can not owe him for the coffee, nor credit him for it. The 
 coffee has not cost us anything, nor is it responsible to us for any ex- 
 penses ; therefore it is not debtor. 
 
 There is no necessity for this transaction appearing in the Day-Book ; 
 but the invoice should be copied into the Invoice-Book, and Mr. Fisher 
 is entitled to a receipt for the quantity of coffee received of him on 
 commission. 
 
 Day-Book — Transaction op April 7. 
 
 Elucidation. — We say nothing of Bills Receivable in the transaction 
 of this date, because the circumstances of the note have not changed. It 
 still owes us ihe S2,000, for which we made it debtor when it began to 
 owe us — January 5th. 
 
 ;>i i 
 
V -i 
 
 I Itll' 
 
 Hi 
 
 ti 
 
 I! 
 
 44 JOURNALIZING. * 
 
 The new note should be entered in the Bill-Book, and against the old 
 one should be remarked, that it was renewed. (See Notes Nos. 1 and 
 15, in the Bill-Book.) It is customary, in renewing notes, to draw the 
 new note for the same amount as the old one, and to pay the interest on 
 the new note in advance, for the time it may have to run. 
 
 Day-Book — 2d Transaction op April 7. 
 
 Elucidation, — Mr. Fisher owes us for the sum we have paid him on 
 account of the proceeds of his coffee. We shall owe him the net pro- 
 ceeds when we render the account-sales. 
 
 To Fisher's consignment we are indebted for producing us the $1,440 
 paid to Mr. Fisher. 
 
 If we had made two entries of this transaction in the Day-Book, Cash 
 would appear as both a debtor and a creditor. 
 
 Day-Book — Transaction of April 10. 
 
 Elucidation. — Mr. De Nones owes us for the amount of the defects 
 found, and allowed, in goods sold for him. We say nothing of the con- 
 signment in the Journal entry, because that has been closed, and the net 
 proceeds transferred to his account. 
 
 Merchandise is creditor, because by that name we called the olives 
 when they became ours, and now they have produced us the amount 
 we claim as deduction in the price we took them at. 
 
 Day-Book — Transaction op April 11. 
 
 Elucidation. — Mr. Fisher owes us for the amount we have paid him 
 — that is, $1,3/50 : $1,322.33, four months before due, is equal to $1,350, 
 allowing us interest for four months and three days. 
 
 Bills Receivable, or the note of S. H. Lovell, owes us now for the 
 sum that he owed us before, because in that kind of property he has 
 paid us. 
 
 Discount is in our favor : it produces us $27.67. We discounted the 
 note for Mr. Fisher. 
 
 Day-Book — Transaction op April 16. 
 
 Elucidation. — Before we can make the Day-Book entry of this date, 
 all the sums for which the " consignment" is debtor or creditor in the 
 Journal, must be posted to the account in the Leger. 
 
 On the credit side we see the amount of the sales — $4,680 ; from 
 which subtracting all the expenses, leaves the net proceeds $4,545. By 
 this calculation, we discover that the balance of the account (which is 
 the total of the credit side in this case) is $4,680, and that we owe this 
 sum to the following, to which we must now transfer it : — 
 
 We owe to Commission for what it produces us $117 00 
 
 We owe to Store-Expenses for what they produce us 18 00 
 
 We owe to J. Fisher for the net proceeds of his coffee 4,545 00 
 
 Making the total of the Cr. side, or the balance of the acct.. 4,680 00 
 
 JOURNALIZING. 
 
 45 
 
 These now become our creditors instead of the consignment, and this 
 must be charged for the amount that we transfer, which will close the 
 account of the consignment. 
 
 Day-Book — Transaction op April 20. 
 
 Elucidation. — The merchandise bought in joint-account with Mr. 
 Austin, in this transaction, owes us for the amount it has cost us — that is, 
 for what our two thirds cost, $3,333.33 — and for no more. The mer- 
 chandise can not owe us for what it has cost Mr. Austin. 
 
 We say nothing of Mr. Austin in the Journal entry, because we have 
 paid nothing for him, nor he for us. 
 
 NoTE.--Never permit the mere circumstance of receiving or delivering' 
 merchandise to divert your attention from the true and only practical Rule. 
 By this rule alone can you prove the correctness of a Journal entry. There 
 are various other transactions, besides this, in which the object that is received 
 is not our debtor, and that which is delivered is not our creditor. See the 
 transactions of the 4th, 12th, 25th, 26th, and 27th of February, 2d, 3d, 16th, 
 20th, 21st, and 27th of March, and 3d of April. In all these cases, if the old 
 rule (" The thing received is Dr. to the thing delivered") should be applied, the 
 Journal entry would be grossly wrong. Also, the old rule never can be ap- 
 plied to interest, without making a wrong entry. 
 
 Day-Book — Transaction of April 24. 
 
 Elucidation. — To renew a note, is to pay it by giving a new note for 
 the old one ; and as the new is generally drawn for the same amount as 
 the old, it is customary to pay the interest that may arise on the new 
 note, in advance. 
 
 Day-Book — Transaction op April 28. 
 
 Elucidation.— As we receive the account-sales of our shipment to 
 Messrs. Walker & Co, at the same time we receive the returns, we owe the 
 " Shipment to Port au Prince" for the net proceeds, and not Walker, 
 because the shipment now produces us $6,000. 
 
 If these returns had not been accompanied by the account-sales, then 
 we should owe and credit Messrs. Walker & Co. for the invoice of hides. 
 
 The freight composes a f)art of the cost of the hides ; therefore they 
 are debtor for the $200 as well as the $6,000. 
 
 We owe our schooner for the value she produces us in freight. 
 
 Day-Book — 2d Transaction op April 28. 
 
 Elucidation.— The expenses on the mahogany were incurred while 
 It belonged to Messrs. Walker & Co.; therefore we deduct them from 
 the amount at which we buy the mahogany ($3,000), leaving the net 
 proceeds of $2,650, which we owe to the consignors. 
 
 The mahogany owes us for its cost, which is $3,000. 
 
 Day-Book — 3d Transaction of April 30. 
 Elucidation.— The bill of exchange that we have bought, in this 
 
 I 
 
>■ I 
 
 iii 
 
 I I 
 
 16 JOURNALIZING. 
 
 transaction, does not owe us, because we have bought it by request of, 
 and remitted to, Messrs. Walker & Co. : they owe us. 
 
 We owed Messrs. Walker & Co. $2,650, which we will suppose was 
 due them here (in New York city) ; and we have, by their order, invested 
 that sum (less our commission) in a draft drawn for as much as the funds 
 would buy. r 
 
 Day-Book — 4th Transaction of April 30. 
 
 Elucidation. — In this transaction, we buy a bill of exchange, and 
 remit it to Mr. De Nones, in payment of what we owed him — $3,469.32. 
 Let us suppose that this debt was payable to him in Cadiz : we then 
 have only to buy a draft for which he will receive that sum. If we give 
 for the draft less than that sum, the gain by exchange or discount is ours, 
 not his ; if, on the contrary, the exchange on Cadiz is at a premium, the 
 loss would be ours, not his. (It is necessary to know where the money 
 is due or payable, in order to know who gains or loses by the exchange.) 
 The draft we have bought has cost only $3,402.98 ; but Mr. De Nones 
 will receive for it $3,454.80, which sum, with the interest for 25 days 
 that it wants of being due, will make the sum that we owed him — 
 $3,469.32. < 
 
 In Journalizing this transaction — 
 
 We owe to Exchange, because it is in our favor, and produ- 
 ces us the discount on the draft $51 82 
 
 We owe to Interest, because it brings us 14 52 
 
 We owe to Cash for paying for the draft 3,402 98 
 
 Making the sum which Mr. De Nones owes us, and is 
 
 debtor for, in this transaction 3,469 32 
 
 Note. — Had this debt been due to Mr. De Nones in this city, instead of Ca- 
 diz, we could charge him only for the cost of the draft, and not for what it was 
 drawn ; and then we should have nothing to say in the Journal, of exchange, 
 because it would neither produce us nor cost us anything. 
 
 Day-Book — 5tii Transaction of April 30. 
 
 Elucidation. — In this transaction we buy, with funds in our hands 
 belonging to Mr. Ruiz, a bill of exchange on Havana ; and we pay for 
 it according to the rate of exchange, which we may suppose to be 1 J 
 per cent, discount. In this way, we receive a draft for $5,050.63, for 
 which we give only $4,974.88, which, with our commission, makes up 
 the amount of funds we held for Mr. Ruiz — $4,987.50. 
 
 Mr. Ruiz owes us, in this case, for the amount we paid for the draft, 
 and for our commission, but for no more. 
 
 Exchange costs us nothing, nor do we gain by it ; it being in favor of 
 Mr. Ruiz, who will receive a draft for a larger sum than he would have 
 received, had the exchange been at par. 
 
 Day-Book — 6th Transaction of April 30. 
 
 Elucidation. — In this transaction, we only exchange one kind of 
 money for another ; and as we pay a premium on that we receive, we 
 
 TRIAL BALANCE. 
 
 47 
 
 say Exchange owes us for what it has cost, and we owe to Cash for pay- 
 ing it for us. 
 
 Day-Book — 7th Transaction of April 30. 
 
 Elucidation. — This entry is made for the purpose of crediting each 
 partner for interest on his capital — under the supposition that it was so 
 stipulated in the articles of agreement between them. To arrive at the 
 interest that may be due a partner on his capital, we make out his " ac- 
 count-current," as we would make one for Mr. Harris, calculating inter- 
 est on both sides of the account, from the date that each sum may be 
 due. See the "Account-Current" made out for Mr. Marsh, among 
 the Forms at the end of the book. The balances of interest in this en- 
 try are obtained from the accounts-current. 
 
 In Journalizing this entry we say that we (the firm) owe to the indi- 
 viduals of the firm, and that interest owes us. 
 
 Day-Book — 8th and 9th Transactions of April 30. 
 
 Elucidation. — The sums of these entries are obtained from the accounts- 
 current, made out for Mr. Harris, and Mr. Lawrence, which will be found 
 among the Forms at the end of the book. The entry relating to Mr. Harris is 
 journalized wrong ; but the error is corrected by the "last entry in the day-book, 
 under date of May 30. This furnishes an example for the correction of errors 
 by day-book entries, which should be resorted to only when the account con- 
 taining the error has been closed ; in other cases it is better to change the fig- 
 ures to ciphers, let the words remain, and make a new entry. 
 
 Dr. 
 
 TRIAL BALANCE. 
 
 Balances of April 30, 1850. 
 
 Cr. 
 
 3 
 4 
 5 
 6 
 
 7 
 7 
 8 
 10 
 12 
 13 
 16 
 
 18 
 
 .Cash 
 
 826,274 
 11,437 
 
 6,998 
 300 
 613 
 
 4,126 
 662 
 167 
 395 
 307 
 
 3,500 
 
 3,333 
 
 07 
 14 
 35 
 00 
 27 
 00 
 76 
 07 
 00 
 62 
 00 
 
 33 
 61 
 
 1 
 1 
 6 
 8 
 9 
 9 
 10 
 
 16 
 16 
 
 T. Blanchard 
 
 C.C. Marsh 
 
 Bills Payable 
 
 Profit and Loss . . . 
 
 Commission 
 
 Exchange 
 
 P.Harris 
 
 Shipment to New > 
 Orleans ^ 
 
 Shipment to Port \ 
 au Prince \ 
 
 $26,870 
 
 16,702 
 
 4,137 
 
 2,379 
 
 794 
 
 152 
 
 4,988 
 
 197 
 1,890 
 
 96 
 69 
 11 
 88 
 85 
 70 
 20 
 
 78 
 44 
 
 61 
 
 Merchandise 
 
 Bills Receivable 
 
 Store-Fixtures 
 
 Discount and Int'st. 
 Schooner Josephine 
 Store-Expenses . . . 
 
 C.Lawrence 
 
 S.H. Lovell 
 
 W. Howard 
 
 Shipment to Boston 
 
 Company 2 Mer- / 
 chandise \ 
 
 
 58,114 
 
 58,114 
 
 
 
 
(■ » 
 
 ■r 
 
 48 
 
 BALANCE SHEET. 
 
 ! ! 
 
 BALANCE SHEET. 
 
 It is customary, in well-regulated mercantile houses, to close all the 
 accounts, or balance the books, once a year. The object of so doing is 
 to obtain a correct view of the true state and result of the business of 
 which the books give the records. Accounts, however, are closed or 
 balanced under other circumstances — upon a cessation of business, dis- 
 solution of partnership, and when the books are full and there is occa- 
 sion for new ones. ^ ... 
 
 The first object to which we direct our attention, m closmg the books, 
 is the Balance' Sheet. This sheet exhibits, under two heads, the entire re- 
 sult of our mercantile operations. Under the heading of «* Balances of 
 our Property and Debts'' (or, Assets and Liabilities), are brought to- 
 gether all that owes us, and that we possess, and all that we owe or are 
 liable for; under the heading of ''Balances of our Frojits and Losses'' 
 are shown all the balances of gain or loss that may be found in the 
 Leger ; and consequently the balance of one will be the net capital, of 
 
 the other the net gain. , 
 
 The Balance Sheet is chiefly composed from the Leger and an m- 
 
 ventory of the merchandise on hand belonging to us, which should be 
 
 taken at the cost price, or less, if the goods are depreciated in value, 
 
 but never at more than cost. , ,. . m 
 
 Take a sheet of paper, and make on it the foUowmg headmgs, similar 
 
 to the succeeding Balance Sheet : — 
 
 *' Balances of our Property and Debts," and 
 " Balances of our Profits and Losses." 
 
 {Explanation of the Balance Sheet continued on page 52.) 
 
 BALANCE SHEET 
 
 OF 
 
 APRIL 30, 1850, 
 
 Blanchard & Marsh 
 
 r 
 
Dr. 
 
 Balances of ouh 
 
 Property and Debts. 
 
 Cr. 
 
 ti 
 
 t 
 
 f'Wi 
 
 1/ 
 
 3 
 4 
 5 
 6 
 7 
 
 10 
 10 
 13 
 16 
 18 
 
 6 
 7 
 8 
 
 Cash, balance on hand 
 
 Merchandise, balance on hand per Inventory 
 
 Bills Receivable, balance on hand 
 
 Store-Fixtures, valued at 
 
 Schooner Josephine, first cost 
 
 Charles Lawrence, balance in our favor 
 
 S. H. LoveU, balance in our favor 
 
 Walter Howard, balance in our favor 
 
 Shipment to Boston, no account-sales 
 
 Comp'y 2 Merchandise, cost of our two thirds on hand 
 
 $26,274 
 
 07 
 
 15,000 
 
 00 
 
 6,998 
 
 35 
 
 270 
 
 00 
 
 5,000 
 
 00 
 
 167 
 
 07 
 
 395 
 
 00 
 
 307 
 
 62 
 
 3,500 
 
 00 
 
 3,333 
 
 33 
 
 61,245 
 
 44 
 
 Dr. 
 
 Balances of our 
 
 Store-Fixtures, loss 10 ojo on the cost 
 
 Discount and Interest, loss 
 
 Store-Expenses, loss 
 
 Thomas Blanchard's half net gain $4,273 24 
 
 C. C. Marsh's half net gain 4,273 24 
 
 Net gain 
 
 /SO 
 
 r^ 
 
 6 
 10 
 
 Bills Payable, balance outstanding 
 
 Paul Harris, balance in his favor 
 
 $ 4,137 
 4,988 
 
 52,120 
 
 11 
 
 20 
 
 Thomas Blanchard's share of capital . .$31,144 20 
 C. C. Marsh's share of capital . - 20,975 93 
 
 
 Net capital 
 
 13 
 
 .^' 
 
 
 61,245 
 
 44 
 
 
 
 
 Profits and Losses. 
 
 4 
 7 
 8 
 9 
 9 
 16 
 16 
 
 New York, April 30, 1850. 
 
 51 
 
 Cr. 
 
 Merchandise, gain on sales , 
 
 Schooner Josephine, gain 
 
 Profit and Loss, gain 
 
 Commission, gain 
 
 Exchange, gain 
 
 Shipm't to N. Orleans, gain 
 
 Shipm't to P. Prince, gain 
 
 $ 3,562 
 
 86- 
 
 874 
 
 00 
 
 2,379 
 
 88 
 
 794 
 
 85 
 
 152 
 
 70 
 
 197 
 
 78 
 
 1,890 
 
 44 
 
 9,852 
 
 51 
 
 AhS 
 
5S 
 
 BALANCE SHEET. 
 
 BALANCE SHEET. 
 
 53 
 
 11 
 
 ii' 
 
 EXPLANATION OF THE ENTRIES ON THE BALANCE SHEET. 
 
 This being clone, turn to the first account in the Leger, and, by rft' 
 fleeting on its nature, endeavor to determine on what part of the sheet 
 its balance should be placed. 
 
 The first two accounts that we find are those of the partners, from 
 which we take nothing at present, because their balances are what re- 
 mains of the old or original capital. 
 
 The Cash account (folio 3) shows on its debtor side all the money we 
 have received, and on its credit, all we have paid. It is therefore clear, 
 that the balance or difference between the debit and credit, is the money 
 on hand. Cash is a property that owes us $26,274.07, which sum we 
 will enter on the debtor side of the Balance Sheet, under the head of 
 " Property and Debts." 
 
 The account of Merchandise (folio 4) shows on its debtor side the 
 cost of all the goods we have bought, and on its credit, the product of 
 all the sales. 
 
 The cost of our merchandise on hand, according to the inventory 
 (which we now suppose), is $15,000. This property, merchandise, owes 
 us that sum, and we enter it on the debtor side, under the head of 
 ** Property and Debts." 
 
 We mxisl now calculate die gain cr loss on ihe sales, whicji is done 
 by adding the amount of the merchandise on hand to the amount of the 
 sales, thus :— 
 
 Amount of sales, total of the creditor side $24,619 47 
 
 Amount of merchandise on hand, per inventory 15,000 00 
 
 39,619 47 
 Cost of all the merchandise, total of the debtor side 36,056 61 
 
 By subtracting, we find the gain on the sales 3,562 86 
 
 This gain*re enter on the creditor side of the part of the sheet headed 
 " Profits and Losses." 
 
 Note. — There is another way of findinsr the g^in on the sales, when the ac- 
 count is in a similar s ate, which is, by subtracting the balance of the account 
 from the amount of the inventory, thus : — 
 
 Inventory $15,000 00 
 
 Balance of the account 11,437 14 
 
 Gain on the sal§s 3,562 86 
 
 If there had been no merchandise on hand, the balance of the account would 
 then be either gain or loss. 
 
 The account of Bills Receivable (f )lio 5) shows that we have in our 
 possession notes to the amount of $0,998.35. This proj^erty owes us, 
 then, this sum; and lherof)ro we enter it on the debtor side, under tho 
 head of " Property and Debts." 
 
 The account of Bills Payable (f )lio 6) shows that there arc not^s ar^ 
 acceptances out against us, to the amount of $4,137.11; and as that is a 
 
 sum we owe, we enter it on the creditor side, under the head of Prop- 
 erty and Df^bts. This balance, as well as the preceding, ought to cor- 
 respond with the notes out, and on hand, in the Bill-Book. 
 
 Tlie account of Store-Fixtures (folio 0) shows that this property has 
 cost us $300 ; from which sum we deduct 10 per cent, for the wear, and 
 place the balance ($270) on the debtor side, under the head of " Prop- 
 erty and Debts :" and the $30 loss we enter under the head of " Profits 
 and Losses," on the debtor side. 
 
 The account of Discount and Interest (folio 7) shows a gain or a loss. 
 If the creditor side exceeds the debtor, it is evident that this branch of 
 our business has ])roduced us more than it has cost, and that the balance 
 is gain. This balance is a debt owed to us; but as we never can real- 
 ize it, it is evidently a loss, and consequently we enter said balance un- 
 der the head of " Profits and Losses," on the debtor side. 
 
 Tlie account of Schooner Josephine (folio 7) shows both ])roperty and 
 profit or loss. Her first cost is $5,000, which we will take as the amount 
 of property, and enjer it on the debtor side, under the head of " Prop- 
 ertv and Debts." The creditor side of this account shows what the 
 schooner has produced »is for freight — $1,055 ; from which we deduct 
 the expenses on the debit ($181), and the result is the gain, which we 
 ent(M- on the credit, under the head of " Profits and Losses." 
 
 The account of Profit and Loss (folio 8) represents our business : if 
 the debtor side exceeds the crc^lit, the balance will be loss ; or, if the 
 credit exceeds the debit, the balance will be gain. The balance, in this 
 case is gain, which we enter under the head of " Profits and Losses," 
 on the credit side. 
 
 Store-Expenses (folio 8). This account does not show property, but 
 a branch of our business; and the balance which appears at it is either 
 gain or loss. Store-Expenses owes us, but they will never pay wha*- 
 thev owe ; therefore the balance of this account should be entered under 
 the head of " Profits and Losses." 
 
 The account of Exchatige (folio 9) shows a sum of gain, because its 
 crt!dit side exceeds the debit — that is, this branch of our business has 
 ])roducod us more than it has cost ; therefore we enter the balance on 
 the credit side, under the head of " Profits and Losses." 
 
 The account of Commission (folio 9) represents a branch of our busi- 
 ness ; consequently we enter its balance under the head of " Profits and 
 
 Losses," 
 
 Tho account of Charles, Lawrence (folio 10) shows a balance against 
 him, atul in our favor, of $167.07 ; and as we consider him solvent, we 
 place it on the debtor side of the sheet, under the head of " Property 
 and Debts." 
 
 The account of Paul Harris (fi)lio 10) shows a balance in his favor, 
 which, being a sum that we owe, we enter on the credit side, under the 
 head of *' Property and Debts." 
 
 The account of O. Otis & Co. (folio 10) shows no balance, it having 
 been balanced or closed in the course of the business. 
 
 The account of S. H. Lovell (folio 12) shows a balance in our favor, 
 and as such we enter it under the head of " Property and Debts," as 
 the debit. 
 
 « 
 
H 
 
 
 ■:*'i 
 
 f 
 Alt 
 
 f( 
 
 54 BALANCE SIJEET. 
 
 The account of Walter Howard (folio 13) exhibits a balance in our 
 favor of $307.62 ; which we enter on the debit side, under the head of 
 " Property and Debts." 
 
 The account of Shipment to Boston (f()lio 16), not having any sum on 
 its credit, shows that wo have not received an account-sales ; therefore 
 the amount of its debtor side is property which we have in Boston. Wo 
 enter this amount on the debit, under the head of ♦♦ Property and 
 Debts." * ^ 
 
 The account of Company 2 Merchandise (folio 18) shows a balance 
 due us of $3,333.33 ; which is the cost of our two thirds of the merchan- 
 dise belonging jointly to Mr. Austin and ourselves. We therefore enter 
 our part on the debit, under the head of " Property and Debts." 
 
 The account of Shipment to New Orleans (folio 16) does not now 
 show any sum of property, it having been sold, and the account-sales 
 received. On the credit side we see what the shipment has produced 
 us, and on the debit, what it has cost. The balance, in this case, is gain, 
 which we enter under the head of " Profits and Losses." 
 
 The account of Shipment to Port au Prince is in the same state as 
 the preceding. 
 
 Haying now been through the Leger, and taken from every account 
 what it contained of property and debts, and of profits and losses, and 
 disposed of the sums under their appropriate heads on the Balance 
 Sheet, we add, with pencil, its cohimns, and ascertain the balances. 
 
 The Balance Sheet exhibits two important results : Under the head 
 of Property and Debts, are seen all we possess, and all that we owe ; 
 the difference, or balance, must be our present net capital — $52,120.13. 
 All the sums of gain and those of loss, throughout the Leger, have been 
 brought on to the Balance Sheet, under the head of " Profits and Loss- 
 es;" and the balance of the two columns of this part of the sheet must 
 be the net gain of our business — $8,546.48. This can not be closed, or 
 finished, until it has been proved. 
 
 PROVIIYG THE BALANCE SHEET. 
 
 If the Balance Sheet be correct, it may be proved by adding the net 
 gain to the original, capital, which should make the net present capital; 
 thus : — 
 
 Thos. Blanchard's old capital (balance of his account) $26,870 96 
 
 C. C. Marsh's old capital (balance of his account) 16,702 69 
 
 Net old capital in the business 43,573 65 
 
 Net gain by the Balance Sheet 8,546 48 
 
 Net present capital 52,120 13 
 
 Which, being the same amount produced by subtracting all we owe from 
 all we have (property and debts), is proof that the Balance Sheet is cor- 
 rect. The proof, then, consists in finding the present capital by two 
 different methods : one, by subtracting our liabilities from our assets • 
 the other, by adding our gain to our former capital. These operations 
 should, of course, result in the same sum. 
 
 CLOSING THE BOOKS. 
 CLOSING THE BALANCE SHEET. 
 
 55 
 
 The net gain is divided equally between the partners, and the last two 
 entries are made on the debtor side of that part of the sheet headed 
 « Profits and Losses ;" which operation will close or balance that part 
 
 of the sheet. . , ^ , , jj. , • 
 
 Each partner's share of the net capital will be found by addmg his 
 half of the net gain to his old capital (balance of his account). The last 
 two entries on the credit of that part headed '* Property and Debts," 
 show each partner's share of the net capital, and close that part of the 
 
 sheet. 
 
 Place the totals at the foot of the columns, affix the date, and the 
 
 Balance Sheet is finished. ,, . /. 
 
 If for any reason it is not desired to close the books, all information 
 relative to the state of our business may be derived from Jie Balance 
 Sheet. 
 
 CLOSING THE BOOKS. 
 
 To close an account, means to make the debtor and creditor sides 
 
 Six entries in the Day-Book, composed from the contents of the Bal- 
 ance Sheet, journalized and posted, will always close a set of books. ^ 
 
 There are two motives for making these closing entries : the first is, 
 to carry the net gain of the business to the partners' accounts ; the other 
 is, that each account in the Leger may begin anew, by its balance being 
 separated from the other sums, and brought down below the totals, or 
 
 lines. 
 
 Day-Book, April 30— Last six Entries. 
 
 The last six entries in the Day-Book, under date of April 30, are 
 composed from the Balance Sheet. « , , 
 
 The object of the Jirst is, to transfer the losses from the several ac- 
 counts where they now are, to one account, viz., Profit and Loss ; there- 
 fore we make this debtor in place of the others, and the others become 
 creditors ; which entry, when posted, will close those several. 
 
 The object of the second entry is to transfer the gains, in like manner, 
 from the several accounts to one account— which is Profit and Loss 
 therefore this becomes our creditor, and those our debtors. 
 
 The object of the tJurd entry is to transfer the net gam, which now 
 stands at the Profit and Loss account, to the accounts of the partners : 
 these, therefore, become the creditors, and that the debtor ; which entry, 
 when posted, will close the Profit and Loss account. 
 
 The object of ihe fourth entry is to transfer all the balances of Prop- 
 erty and Debts, in our favor, to a new account opened in the Leger, 
 entitled " Balances of April 30, 1850." Consequently, this new account 
 becomes debtor for all the sums that the former owed us, and they be- 
 come creditors; which entry, when posted, will balance or close those 
 accounts. Post the creditors in red ink. 
 
 The object of the Jifth entry is to transfer the balances of all^^those 
 that we owe, to the account ofr " Balances of April 30, 1850 :" this, 
 
 I 
 
 
 ri 
 
 't 
 
56 
 
 OPENING NEW BOOKS. 
 
 ■I' 
 
 then, becomes the creditor, and those the debtors ; wliich will, wlie 
 posted, close the accounts of Bills Payable and P. Harris. Post these 
 two in red ink. 
 
 The sixth entry closes or balances the three only rcmainiiio- unclosed 
 accounts. The balance of the account entitled " Balances of April 30, 
 1850," is now the net present caphal — $52,120.13 ; and the balances of 
 the accounts of the partners are llieir respective shares of said capital. 
 To close these three accounts, the partners become debtors, and the 
 "Balances" creditor. Post all these in red ink. The reason of j)ostino- 
 the balances in red is, that such sums are hereafter to be brought down 
 in new accounts. 
 
 All the accounts in tho Legcr ought now to balance ; therefore rule 
 and foot them, and the books are closed. 
 
 OPENING NEW BOOKS. 
 
 If, when the books have been closed according to the directions ^iven, 
 there should be no necessity for opening new books, and the busirfess is 
 to be continued in the old ones, wo optMi the accounts by mciely bring- 
 ing down (under the old heading, and below the lines) the balances al- 
 ready written in the accounts in red ink, by writing " To Balance,'' or 
 "i>*// Balance'' as the case may be. 
 
 But if the books are full, and it should be necessary to open new 
 ones, the best method is to make an entry in the new Day-Book, com- 
 posed from the Balance Sheet, showing the state of the affairs at the 
 closing of the old books, in the following manner : — 
 
 New York, April 30, 1S50. 
 
 Inventory of the Property and Debts of the firm of 
 Blanchard & Marsh, as per Balance Sheet of this 
 date, as follows : — 
 
 Cash, balance on hand $26,274 07 
 
 Merchandise, per Inventory 15,000 00 
 
 Notes in our ftivor, as per Bill-Book 6,998 35 
 
 Store-Fixtures, valuation 270 00 
 
 Schooner Josephine, first cost 5,000 00 
 
 Charles Lawrence, balance in our favor 167 07 
 
 S. H. Lovell, balance in our fivor 395 00 
 
 Walter Howard, balance in our favor 307 62 
 
 Shipment to Boston, of April 30, 1850 3,500 00 
 
 Company 2 Merchandise, our | on hand. . . 3,333 33 
 
 Our notes outstanding, as per Bill-Book. . . 4,137 11 
 
 Paul Harris, balance in his favor 4,988 20 
 
 Net capital 
 
 Of which Thomas Blanchard*s share is $31,144 20 
 
 Of which C. C. Marsh's share is 20,975 93 
 
 
 »■■- 
 
 JOURNALIZING. 57 
 
 The Journal entry of the preccdinor Day-Book entry would be such 
 as to show several debtors and several creditors. The debtors are all 
 those properties and persons whiclj owe us, and the creditors those that 
 we owe. For the balance between these, which is the net capital, the 
 firm owes the individual partners, and they should be credited, thus :— 
 
 Sundries Dr. To Sundries. 
 
 Cash $26,274 07 
 
 Merchandise 15,000 00 
 
 Bills Receivable 6,998 35 
 
 Store-Fixtures 270 00 
 
 Schooner .Josephine 5,000 00 
 
 Charles Lawrence 167 07 
 
 S. H. Lovell : 395 00 
 
 Walter Howard 307 62 
 
 Shipment to Boston 3,500 00 
 
 Company 2 Merchandise 3,333 33'$61,245 44 
 
 To Bills Payable 4,137 11 
 
 " Paul Harris 4,988 20 
 
 " Thomas Blanchard.... 31,144 20 
 
 " C. C. Marsh 20,975 93 61,245 44 
 
 When the above entry is posted, the new books will be opened. 
 
 BUSINESS OF MAY: 
 
 Embracjna: Entries of nlwut one luindrcd Transactions, in a condenserl Form, relating to — 
 Clerks' Salaries — Delivering Note for Debt (hie — Investing Monej' in Stocks — lleceiving 
 Account-Sales— Receiving Account Current with Balance of Interest — Receiving Draft for 
 Ralance of Account — Delivering Note on Open Policy — Sliipments in Joint Account — 
 Monthly Entry of Purchases — Monthly Entry of Sales — Monthly Entiy of Cash received — 
 Monthly Entry of Cash paid — Correcting errors. 
 
 Transaction of May 16. 
 
 The Erie railroad stock, which we buy in this transaction, has cost us 
 only $4,000 ; the discount on the draft is no part of the cost of the stock. 
 The stock, therefore, owes us $4,000. When we receive any dividends 
 on this stock, we shall credit it for the interest it produces us. 
 
 Exchange costs us, in this transaction, $20.10, for which it is debtor. 
 
 We owe Messrs. Eaton & Co. for the amount we draw on them, or 
 order them to pay for us ; they are therefore creditors. 
 
 Transaction of May 23. 
 
 In the transaction of this date, we ship an invoice of goods in joint- 
 account with Mr. Austin ; we then ship half of the invoice for him, and 
 half for ourselves : therefore, he must owe us for his half of the ship- 
 ment, and the shipment owes us for what it has cost us for our half. We 
 pwe whatever contributes to make up the amount of the shipment. 
 8 . 
 
li 
 
 ^ii 
 
 58 
 
 MONTHLY ENTRIES. 
 Day-Book — The four Entries of May 31. 
 
 The entries in the Day-Book of this month are introduced for tlie 
 purpose of showinj^ a plan of makinir monthly or weekly entries, which 
 shall include all the simple transactions of the house — ^that is, the sim- 
 ple purchases and sales of merchandise, simple cash receipts, and simple 
 cash payments : such entries to be made up, at the end of each month 
 or week, from the following books, viz. : Invoice-Book, Sales-Book, and 
 Cash- Book. 
 
 The first of the four entries in the Day-Book under this date, is sup- 
 posed to have been taken or composed from the Invpice-Book. It in- 
 cludes all the purchases of merchandise, during the month, for notes or 
 on account. The purchases for cash do not come into this entry, hut 
 are included in the entry taken from the Cash-Book. 
 
 The second of the four entries in the Day-Book of this month, is sup- 
 posed to be composed from the Sales-Book. It embraces all the sales 
 of merchandise, except the cash sales : these come into the Day-Book 
 from the C ash-Book, with all other cash receipts. 
 
 The third of the four Day-Book entries of this date, is drawn from 
 the debtor side of the Cash-Bookj. It includes, in a condensed form, all 
 the sums of money received during the month. The sums received of 
 persons, and for which they should be credited, are shown separately 
 with the dates; but the other sums are brought in aggregate amounts. 
 
 The last of the four Day-Book entries of this date we will suppose is 
 composed from the creditor side of the Cash-Book. It comprises all the 
 sums of cash paid out during the month ; those paid for merchandise, 
 expenses, interest, and all other objects (except persons who owe us), in 
 aggregate amounts. 
 
 This monthly entry plan of writing up the business of a house, is much 
 admired, and possesses many advantages over the method of making 
 separate Day-Book and Journal entries of all transactions. Among its 
 advantages may be enumerated the following : — 
 
 1st. It exhibits nearly the whole of the business of the month in only 
 four Day-Book entries ; thereby affording, monthly, a very clear and 
 satisfactory view of the business. 
 
 2d. The posting is reduced, not a hundred per cent., but to a hun- 
 dredth part of what it would be on the daily or separate entry plan. 
 
 3d. Omissions or errors, in transferring sums to the Day-Book from 
 the Cash-Book, Invoice-Book, and Sales-Book, can not occur, because 
 the addition of each Day-Book entry must agree with the addition of the 
 book from which it is brought. 
 
 4th. The accounts of Merchandise, Cash, Bills Receivable, Bills Pay- 
 able, Expenses and Interest, which generally cover many folios in the 
 Leo-er, to no purpose, become, as they should, the shortest — not having 
 on them more than twelve or twenty-four sums in a year. 
 
 It must be understood and remembered, that the monthly entries can 
 embrace no transaction which does not appear in full and complete in 
 either the Cash-Book, Invoice-Book, or Sales-Book; icA. that any trans- 
 
 o 
 
 MONTHLY ENTRIES. 
 
 99 
 
 action that can not be made a purchase or sale of merchandise, or a 
 cash receipt or payment, must have a separate Day-Book entry at the 
 time it occurs, and may be journalized and posted separately. 
 
 The monthly entry plan is not as simple as the other. To adapt it 
 successfully, one must be well acquainted with the subject, and thor 
 oughly understand how to conduct a set of books on the daily or sepa- 
 rate entry method. 
 
 Day-Book — May 30 (Last Entry). 
 
 This entry is made to give a sample of a day-book entry to correct er- 
 rors which may sometimes be discovered after an account has been closed. 
 As Mr. Harris was charged for an amount for which he should have 
 been credited, it is now necessary to credit him for double that sum. 
 
 J 
 
J 
 
 i 
 
 I 4.1% 
 
 Gl) 
 
 QUESTIONS AND ANSWERS. 
 
 QUESTIONS AND ANSWERS, 
 
 RELATING TO 
 
 OPENING, CONDUCTING, AND CLOSING BOOKS. 
 
 * 
 I 
 
 >7 > 
 
 : t 
 
 OPENING BOOKS. 
 
 . Quest. What Is mcnnt by openiiii? books or accounts ? 
 Ans. Commencing the records ot'u business in a gystemalic manner. 
 i. Q. With what records or entries does a business generally com- 
 mence ? 
 A, With the circumstances of the person commencing business : with 
 a statement of his capital. 
 
 3. Q. When a person begins business without capital, what will be the 
 
 first entry in his books 1 
 A. The first transaction that occurs — a purchase or aught else. 
 
 4. Q. If a person begins business without capital, and owes to John 
 
 Sims $1,000, what will be his Journal entry 1 
 A. Supposing his name to be Thomas Blanchard, his Journal entry 
 will be — 
 Thomas Blanchard Dr. 
 
 To John Sims 31,000 00 
 
 5. Q. If the first transaction in your books should bo the purchase of 
 
 50 bakjs of cotton, of John Sims, on credit, amounting to 
 $2,000, what would be your Journal entry ] 
 
 A. Merchandise Dr. 
 
 To John Sims 32,000 00 
 
 6. Q. Why is that your Journal entry ? 
 
 A. Because it shows all the debtors and creditors of the transaction. 
 
 7. Q Why do you make Merchandise debtor, and John Sims creditor, 
 
 in that transaction ? 
 A, The Merchandise is debtor, because it owes me for what it has 
 cost me ; and Sims is creditor, because I owe him — ^not having 
 • ^aid him for the cotton. 
 
 QUESTIONS AND ANSWEKS. 61 
 
 8. Q. What would be your Journal entry, if, at the commencement of 
 
 your business, you borrow of J. Sims, cash — S3, 000 ? 
 
 A. Cash Dr. 
 
 To John Sims $3,000 00 
 
 9. Q. What would be your Journal entry, if you begin business with 
 
 a capital, in cash, of $10,000 ? 
 A, Supposing my name to be Thos. Blanchard, my entry would be-— 
 
 Cash Dr. 
 
 To Thomas Blanchard $10 000 00 
 
 10 Q. How do you explain this entry 1 
 
 A. Cash is the species of property which owes me for my capital ; 
 therefore it is debtor. Nothing can be debtor in my books, 
 unless it owes me. I am creditor, because I am possessed of 
 $10,000 capital, for which I owe no one. 
 
 11. Q. Why do you not, in opening your books, credit an account called 
 
 " Stock," for your net capital ? 
 A, By so doing, I should be calling myself ** Stock" (that being the 
 name given to the proprietor in some systems of book-keep- 
 inij), and I do not perceive any good reason for substituting 
 that name for my own. 
 
 Note. — Where there are many partners in a business, as in a bank- 
 ing or railroad company, there is kept an extra Leger, containing 
 only the accounts of the partners. In such cases, there must be an 
 account in the principal Leger to represent all those in the extra 
 Leger: that account may be called "Stock," "Stockholders," or 
 " Shareholders." 
 
 12. Q. When several persons commence a partnership in company, and 
 
 all do not advance their portions of the capital, how would be 
 your Journal entry ? 
 A. I should credit such only as advanced capital, and neither debit 
 nor credit the others. 
 
 13. Q. Will you imagine forme a Day-Book of the commencement of a 
 
 single business, supposing the party to owe and be owed, 
 and that your name is Thomas Blanchard ? 
 A, I, Thomas Blanchard, commence business under the following 
 circumstances : — 
 
 I have in cash, deposited $1,000 00 
 
 I owe to John Sims, on account 100 00 
 
 My net capital $900 00 
 
 Or thus : — 
 
 Property and Debts of Thomas Blanchard, per Inventory taken 
 this day : — 
 
 Cash, balance in bank $1,000 00 
 
 Balance due John Sims, on account 100 00 
 
 Net capital $900 00 
 
 14. Q In what manner will you Journalize these entries 1 
 
 L.t.;.>:i 
 
62 
 
 QUESTIONS AND ANSWERS. 
 
 A. I should Journalize them both thus : — 
 
 Cash Dr. To Sundries. 
 
 To John Sims $100 00 
 
 Thomas Blanchard 900 00 $1,000 00 
 
 <( 
 
 I 
 
 15. Q. 
 A. 
 
 16. Q. 
 A. 
 
 17. Q. 
 
 A. 
 
 18. Q. 
 A. 
 
 19. 
 
 Q. 
 
 
 A. 
 
 20. 
 
 q. 
 
 
 A. 
 
 21. 
 
 Q. 
 
 
 A. 
 
 22 
 
 A. 
 
 CONDUCTING OR KEEPING ACCOUNTS. 
 
 Which is the most important book of a set of account books 1 
 
 The Day-Book ; because it gives a complete history of our busi- 
 ness, which we do not expect to find in the others. In some 
 systems, the Day-Book is a mere blotter, and the transactions 
 entered therein are repeated, with explanations, in the Jour- 
 nal ; in that case, the Journal is the most important. 
 
 How, or in what manner, should Day-Book entries be written t 
 
 Day-Book entries should be written in clear and simple sen- 
 tences : the different parts of a transaction should be stated in 
 the order in which they occur. I do not think the words debtor 
 and creditor should be used in Day-Book entries, but merely a 
 simple record of the transaction. 
 
 From what sources do you get the Day-Book entries ? 
 
 Few transactions appear first in the Day-Book, although it is 
 often called the book of original entry. Entries in the Day- 
 Book are drawn from various sources — generally from the In- 
 voice-Book, Sales-Book, Cash-Book, and Bill-Book. 
 
 What do you consider to be the object of the Journal ? 
 
 To exhibit the debtors and creditors, which arise from mercantile 
 transactions, separated from the sentences of explanation con- 
 tained in the Day-Book, that they may be more easily and 
 correctly transferred to the Leger. 
 
 By what principle or rule do you distinguish debtors and cred- 
 itors, or make Journal entries ? 
 
 The rule I use is this : All those persons and things which I 
 think owe me, I call Debtors ; and all those which I owe, I 
 call Creditors. 
 
 In a transaction where there are many sums, how do you know 
 which sum to affix to the name of a debtor ? 
 
 After reflecting well on the transaction, I ;affix the sum which I 
 can demand of him or it. 
 
 Will you explain to me how things or objects can owe us when 
 we have them ? 
 
 Perhaps we had better begin with the definition of the word 
 dollar. 
 
 Very well ; how do you define the word dollar ? 
 
 Dollar is both the name of a coin, and the name of a measure of 
 a quantity of value. As a measure, it conveys the same idea 
 of value as yard does of space, pound of weight. A pound is 
 a measure of weight, and a dollar is a measure of value. We 
 may have ten yards of cloth, ten Jeet of land, ten pounds of 
 
 it 
 
 QUESTIONS AND ANSWERS. 
 
 63 
 
 iron or gold : we may have ten dollars in either of these arti- 
 cles, as well as in cash or money. 
 
 23. Q. Well, if I have $1,000, how can there be any debt, when I have 
 
 the sum 1 
 A. If you have $1,000, you must have that amount of value in some 
 kind of property, because that sum is only a quantity of value 
 (unless you speak of a thousand pieces of coin) ; therefore, 
 finish your question, and tell me what you have the $1,000 in. 
 
 24. Q. If I have $1,000 in money, how does anything owe me ? 
 
 A. Money and cash are only names of property : if you had $1,000 
 in land or merchandise, could not these owe you for the value 
 invested in them 1 Why, then, does not the money owe you 
 for that sum ? 
 
 25. Q. But, is not that imagination t 
 
 A. No, sir ; not unless the law is so. The law makes prooerty and 
 things liable for debts. The law that supports your claim on 
 a person for $1,000, supports it belter on a property, because 
 it maintains you in your authority over and possession of the 
 property, until your claim is satisfied. 
 
 26. Q. You understand, then, that a thousand dollars means a quantity 
 
 of value; and if that value be in merchandise, the merchan- 
 dise must owe for that value ; if it be invested in houses and 
 lands, those, or real estate, must owe for that value ; and if it 
 be in cash or money, it must owe 1 
 A. Yes, sir ; if it is not so, the science of book-keeping is wrong, 
 and we can never more use the word debtor as applied to things. 
 
 27. Q. The science is right ; and you will do well, whenever you pay 
 
 out any sum, to ascertain, with care, what, as well as who, you 
 can charge for it. 
 Why do you, in the first entry of the Journal of this book, carry 
 out into the last column the two amounts 1 
 A, Merely to show that the sums of the debtors, and the sums of 
 the creditors, form two equal amounts. 
 
 28. Q. Why ought the debtor and creditor sums equal each other 1 
 
 A. When a person owes us, we must of necessity owe some thing 
 for the sum that he owes us. This is the case in every trans- 
 action ; therefore the debtor and creditor sum or sums are 
 always equal in a correct Journal entry. 
 
 29. Q. How do you Journalize this — A friend makes you a present of 
 
 S1,000 in cash 1 And how explain it ? 
 A. Supposing my name to be Thos. Blanchard, my entry would be— 
 
 Cash Dr. 
 
 To Thomas Blanchard $1,000 00 
 
 Cash is debtor, because it owes me the value it contains, or that 
 1 have in it ; and I, myself, become creditor, because I owe 
 nobody for this value : it augments my capital. 
 
 30. Q. I have seen systems of book-keeping in which " Profit and Loss" 
 
 is credited, in such a transaction. Is it wrong, and why ? 
 
 
 : It 
 
I i 
 
 II 
 
 i^K ^i 
 
 !^ i 
 
 } 1 
 
 64 QUESTIONS AND ANSWERS. 
 
 A, It is wrong, because •♦ Profit and Loss" is the account which 
 represents our business : it should show only the gains and 
 losses that result from the business. In this transaction, wo 
 do not owe our business for the $1,000, because our business 
 did not produce the sum. If, therefore, we carry such sums 
 to the Profit and Loss account, the purpose for which it is 
 opened will be completely frustrated. 
 
 Which do you place first in a Journal entry, the debtors or the 
 creditors ? 
 
 The names of the debtors. I do not know why they are always 
 placed before the creditors, unless it be that people generally 
 tliink more of their debtors than they do of their creditors. 
 
 Very well thouo;^ht of ! Can you inform me why we never see 
 
 the word creditor (Cr.) in the Journal ? 
 Because the word debtor (Dr.) distinguishes the debtors ; and 
 
 there being only two kinds, one being shown, the others must 
 
 of course be the creditors. 
 
 To whom do the " Sundries'* owe, in the Journal entry of Janu- 
 ary 19 1 
 They owe the owners of the books — Blanchard & Marsh. 
 
 That entry reads — ♦• Sundries Dr. to Oliver Otis & Co.'* "Why 
 
 do you say, '• to Blanchard & Marsh V* 
 Because there are certain words always understood to follow the 
 
 word '• Dr.," and certain others understood to precede the 
 
 names of the creditors, in every entry in the Journal. 
 What are those words ] 
 Those which follow the term " Dr." are, **to us;** and those that 
 
 precede the creditors are, " We are debtor." 
 Why are not those words used in Journal entries ? 
 Those words are superfluous ; because the mere act of writing 
 
 in our books any person or thing Dr., indicates that that person 
 
 or thing is debtor to us, or is our debtor. 
 
 What relation does the Journal bear to the Day-Book and Lecher ? 
 An intermediate relation — serving to convey the debtors and 
 creditors from the former to the latter. 
 
 In Journalizing, do you make it a rule to extend the same sura 
 in the Journal that you extend into the outer column in the 
 Day-Book ? 
 A. By no means : the position that sums occupy in the Day-Book 
 should be no guide for their position in the Journal. 
 
 39. Q. Have you heard of a rule for Journalizing,founded on the worda 
 
 ^^ receive" and ''deliver?" 
 A. Yes, sir — in these words : — 
 
 " By Journal laws, what T receive, 
 Is debtor made to what I give,** 
 
 40. Q. How does this rule apply, and how not ? 
 
 A. This rule originates in the coincidence that things are often 
 
 QUESTIONS AND ANSWERS. 
 
 65 
 
 31. Q. 
 A. 
 
 32. Q. 
 A. 
 
 33. Q. 
 
 A. 
 
 34. Q. 
 
 A, 
 
 35. Q. 
 A. 
 
 36. Q. 
 A. 
 
 37. Q. 
 
 38. Q. 
 
 41. Q. 
 A. 
 
 42. Q. 
 A. 
 
 43. Q. 
 A. 
 
 44. Q. 
 A, 
 
 45. a 
 
 46. Q. 
 A. 
 
 47. Q. 
 A. 
 
 48. Q. 
 A. 
 
 49. Q. 
 
 A. 
 
 50. Q. 
 
 debtor and received at the same time. But this is far from 
 being always the case : a striking instance may be found in the 
 transaction of 3d of April in this volume. But if the things 
 received were always debtors, and those delivered, creditors, 
 such a rule would be unworthy of science, because, to admit 
 this rule, one must admit that the word receive means debtor, 
 and that deliver signifies creditor. 
 
 For what purpose is the Leger ? 
 
 To show the accounts of all those that owe us, and of all those 
 that we owe. 
 
 What do you understand by posting or legerizing ? 
 
 Transferring the sums from the Journal to the teger. Posting 
 sometimes includes Journalizing. 
 
 How often should books be posted ? 
 
 Daily, weekly, or monthly, according to the nature of the busi- 
 ness. 
 
 What are the names of the auxiliary books ? 
 
 Cash-Book, Invoice-Book, Sales-Book, and Bill-Book. These 
 
 are the principal, and appear indispensable in every business. 
 What is the use of the Cash-Book ? 
 It shows every sum of cash or money which we receive or pay. 
 
 It serves as a check on that kind of property ; far the balance 
 
 between its debtor and creditor sides, should agree with the 
 
 money on hand. 
 
 When do you balance the Cash-Book, and how ? 
 
 Daily — when the business of the day is over. The book is bal- 
 anced thus : Obtain the difference between the debtor and 
 creditor pages, see that the difference agrees with the money 
 we have on hand, and make an entry on the credit side by 
 writing " Balance on hand" with the difference ; and when the 
 account is ruled and footed, it will be balanced. 
 
 When should entries be made in the Invoice-Book ? 
 
 At the time the goods are received, the invoice, or bill of them, 
 should be copied in the book. 
 
 When are entries to be made in the Sales-Book ? 
 
 At the time the goods are selected, or ordered by the purchaser, 
 
 they should be described — quantity, quality, and price — in the 
 
 Sales-Book. 
 
 When, and how, do you take entries from the Invoice and Sales 
 Books to the Day-Book ? 
 
 Single purchases and sales may be carried from the Invoice and 
 Sales-Books to the Day-Book separately, if they are of large 
 amounts ; or, we may with propriety convey the purchases of 
 a month or week, from the Invoice-Book to the Day-Book, in 
 only one entry ; and the sales may be taken into the Day-Book 
 in the same manner. 
 
 What advantage is there in making monthly entries from the 
 Invoice and Sales-Books into the Day-Book, over that of car- 
 •7 
 
'. 
 
 I ;' 
 
 66 QUESTIONS AND ANSWERS. 
 
 rylng the purchases and sales into the Day-Book in separate 
 entries ] 
 A. Considerable time and space are saved ; for, by the monthly 
 method, the sales and purchases go to the merchandise account 
 in totals. 
 
 51. Q. When should entries be made in the Bill-Book 1 
 
 A. When notes are issued or received, and when they are paid or 
 negotiated. 
 
 52. Q. We know many book-keepers who post directly from the Invoice, 
 
 Sales, and Cash Books, to the Leger. What is there objection- 
 able in that method 1 
 A. When that method is pursued, there will be no book of the set 
 that will show a complete history of the business, or a record 
 of the transactions as they occuiTcd ; and if at any period the 
 books should not balance, the trouble of finding the errors 
 would be greatly augmented. 
 
 Note. — There are some houses in which the transactions, particularly 
 the sales, are so numerous that it is necessary to adopt the most 
 abbreviated system, or the book-keeper would soon be far in the rear 
 of the business. By the method referred to, no book called Journal 
 is used ; but, nevertheless, all the knowledge which that book em- 
 braces, is required, even in a greater ratio, because that system 
 makes the Cash, Invoice, and Sales-Books, serve the double purpose 
 of Journals. 
 
 53. Q. What is a Trial Balance 1 
 
 A. It is a sheet which shows the balances of all the accounts in the 
 Leger, arranged in two columns — one of debtors, and one of 
 creditors. 
 
 54. Q. What is the object of the Trial Balance 1 
 
 A. To prove the books, and to exhibit the balances. If the posting, 
 additions, and subtractions, are correct, the two columns will 
 add up alike. 
 
 55. Q. Should they not equal, how would you proceed to find the errors 1 
 A. 1st. By examining the Journal entries, to see if the debtors and 
 
 creditors in each entry equal each other. 2d. By examining 
 the posting from the Journal to the Leger, and by re-adding 
 and re-subtracting the accounts in the Leger. I would repeat 
 these, until I had found the error or errors. 
 
 56. Q. How often is it necessary to make a Trial Balance 1 
 
 A. Monthly, or quarterly. Sometimes it is left until the end of a 
 year, when it rarely balances. 
 
 57. Q. If you buy merchandise for cash, in what books do you make 
 
 entries 1 
 A, In the Cash, Invoice, and Day Books. 
 
 58. Q. If you buy merchandise on credit 1 
 A. In the Invoice and Day Books. 
 
 59. Q. If you buy merchandise on your note t 
 A. In the Invoice, Bill, and Day Books. 
 
 QUESTIONS AND ANSWERS. 67 
 
 60. Q. If you merely exchange merchandise 1 
 ^. In the Invoice and Sales Books. 
 
 61. Q. If you sell merchandise on credit ] 
 A. In the Sales and Day Books. 
 
 62. Q. If you sell merchandise for cash 1 / 
 ' ^. In the Sales, Cash, and Day Books. 
 
 63 Q If you sell merchandise to John Sims on his note t 
 
 * A. In the Sales, Bill, and Day Books. 
 64. Q. If you receive money of John Sims ? 
 
 ' ^! In the Cash and Day Books. 
 65 Q If John Sims pays a note you hold against him t 
 
 ' I. In the Cash, Bill, and Day Books. 
 66. Q. If you pay for postages V 
 
 A. In a petty Cash-Book. 
 67 Q. If you pay rent of your store ? 
 A In the Cash-Book and Day-Book. 
 
 68. Q* If there is to-day due J. Sims, for services as clerk in your em 
 
 ployment, $500 ] 
 A. In the Day-Book. 
 
 69. Q. Will you make the Day-Book entry ? 
 
 A. Amount of salary due John Sims for services as clerk, ^^ 
 
 up to this date **" 
 
 70 Q. What is your Journal entry ? 
 
 'X. Store^x^^e^n^se^s^^^ Dr. ^^^^ ^^ 
 
 71 O Suppose, after posting the above, the balance of J. Sims' account 
 
 ^* i^^$200, and that you pay it : what will be your JoumaLentry 1 
 
 A, John Sims I^r. 
 
 ToCash ^^"" "" 
 
 72. Q. If you pay the rent of your dwelling-house, in what books do 
 
 you enter ] 
 A. In the Cash-Book and Day-Book. 
 
 73. Q. What would be your Journal entry 1 
 
 A. Thos. Blanchard (my name) Dr. *9.a nn 
 
 ToCash ^^^^ "^ 
 
 74. Q. If you pay your note, now due, in what books do you make 
 
 entries ? 
 A. In the Cash, Bill, and Day Books. 
 
 75. Q. If you deliver your note to P. Harris for balance of account T 
 * A. In the Bill and Day Books. 
 
 76. Q. If P. Harris gives you his note for balance of account! 
 ' A. In the Bill and Day Books. 
 
 77. Q. What difference is there between those notes 1 
 
 A One is in my favor ; the other agamst me. I call one Bills Re- 
 ceivable;" the other, "Bills Payable." 
 
 \l 
 
cs 
 
 78. Q. 
 
 A. 
 
 79. Q. 
 A. 
 
 80. Q. 
 A. 
 
 QUESTIONS AND ANSWERS. 
 
 ^^ ^' ^^^^"«'^"o^e in your favor is due, and remains unpaid in 
 what books do you make entries 1 unpaid, m 
 
 In the Bill-Book and Day-Book. ' 
 
 What will be your Journal entry t 
 P. Harris ^ j)j. 
 
 To Bills Receivable '. jj^ooq oo 
 
 Z^TZ" "'l',,^'"'- ^^"'" "" ^^^'°^' ^='«" y°" ^'i'l hold the 
 
 I tWnt nn7^ ^^u" ""'^ ""^^ y°" """'• «^ "'«" "^ « did before ? 
 
 dead R J" .1. "^ '""' °^ '^^ "°'^ "-^^ expired-it is now 
 
 "the?«wnli " V « |« due, our claim begins on its author: 
 the law allows it, and the court awards it." 
 
 ^?rj;7^'* "'■5 '"','""? •''^' "'»''y 6ook-keepers do not charge the nnr- 
 
 way t°o"d"oso'^''Tl'" "T""'' ^'"^" '•"^= "•" " i^ the mSre regSlar 
 way to do so. The party to a note over due, undoubtedly owes (he 
 
 '^tl/:^'' «^y;;:ilf-./rarr^V. ;,^^e (or acceptance) w due and 
 
 paid,'' what kmd of a note is spoken of? 
 " Harris's note'' means a note that Harris wrote or siffned-a 
 
 note agamst him, and not a note belonging to him. 
 
 If Mr James owes you $100, and you accept $98 for it, what 
 will be your Journal entry ? f ^ lui u, wnai 
 
 fr^''^' Dr. To J. James. 
 
 Profit and Loss 2 00 $100 00 
 
 If you draw on a person, does he become your debtor or cred- 
 itor, and in what books do you make entries ? 
 
 ""L^She JraTisTi^rW ^ ^^^■^°°''' ^"^ ■" '"« ^"■- 
 Why your creditor ? 
 
 Because I owe him the sum for which I have drawn : drawing 
 on him IS drawing from him. ^wiug 
 
 Should the draft be returned, in what books will you make 
 
 In the Day-Book and Bill-Book. 
 
 What is accepting a draft ? 
 
 Writing one's name across the face of it, by which one agrees to 
 pay It when due. 5 ^o tu 
 
 CLOSING ACCOUNTS. 
 
 87. Q. What do you understand by closing accounts, or balancing books ? 
 A. By closing accounts, we mean the act of rendering the debtor and 
 creditor sides of every account equal. This is done by trans- 
 lernng the balances from the many accounts to only two ac- 
 counts, and there showing the result of the business in a form 
 80 condensed as to be seen at one view. 
 
 81. Q. 
 A. 
 
 82. Q. 
 A. 
 
 83. Q. 
 A. 
 
 84. Q. 
 A. 
 
 85. Q. 
 
 A. 
 
 86. Q. 
 A. 
 
 I) 
 
 QUESTIONS AND ANSWERS. 
 
 69 
 
 88. Q. 
 
 A. 
 
 89. Q. 
 A. 
 
 90. Q. 
 A. 
 
 91. Q. 
 A. 
 
 92. Q. 
 A. 
 
 93. Q. 
 A. 
 
 94. Q. 
 
 
 A. 
 
 95. 
 
 Q- 
 
 
 A. 
 
 90. 
 
 Q. 
 
 
 A. 
 
 97. 
 
 A. 
 
 98. 
 
 A. 
 
 99. 
 
 Q. 
 
 
 A. 
 
 To what do we first direct our attention, in balancing or closing 
 books 1 
 
 To the Trial Balance. 
 
 After that, what next claims our attention ? 
 
 The Balance Sheet ; by which we show the result of our busi- 
 ness — our assets and liabilities, our gains and losses. 
 
 Why is it necessary to close the books, when the Balance Sheet 
 exhibits the situation of the affairs ] 
 
 The Balance Sheet may suffice for thQ closing, when the books 
 are not to be changed ; but when the gain or loss is to be divi- 
 ded and carried to the partners* accounts, or when new books 
 are to be brought into use, the closing entries in the Day-Book, 
 Journal, and Leger, become necessary. 
 
 What follows the Balance Sheet, in closing the books 1 
 
 We proceed then to make entries in the Day-Book, composed 
 
 from the contents of the Balance Sheet, which we Journalize 
 
 and post. 
 
 Which side of the Cash account can exceed the other ? 
 
 The debtor side. The creditor side can never exceed the debtor, 
 
 and be correct. 
 Why is the debtor side of the Cash account generally more in 
 
 amount than the creditor ? 
 Because that kind of property called cash is of an unvarying 
 
 value : it comes in and goes out of our possession, or is bought 
 
 and sold, at the same price ; because we can not pay out more 
 
 money than we have received. 
 
 To what account do you transfer the balances of property and 
 
 debts, at the closing of the books ? 
 To an account called " Balances," opened for that purpose. 
 
 To what account do you transfer the balances of gains and losses, 
 
 at the closing ? 
 To the " Profit and Loss" account. 
 
 To where do you transfer the balance of the " Profit and Loss" 
 
 account ? 
 To the accounts of the partners, or to that of the owner of the 
 
 books. 
 
 Which side of the account of Bills Receivahle can exceed ? 
 The debtor. The excess ought to agree with the notes on hand, 
 as appears by the Bill-Book. 
 
 Which side of the account of Bills Payable can exceed ? 
 The creditor. The excess should agree with the amount of notes 
 out against us, as appears by the Bill-Book. 
 
 Is there more than one method of making an Account-Cur- 
 rent ? 
 
 There are three methods : 1st, without interest ; 2d, with in- 
 terest ; and 3d, by averaging, to find when the balance is 
 due. 
 
 ( . 
 
 
 hi 
 
 ifi 
 
70 
 
 QUESTIONS AND ANSWERS. 
 
 LOO. Q. Which part of book-keeping embraces most of the science ? 
 A. That part called Journalizing. 
 
 101. Q. When a set of books is kept by double-entry, and the book- 
 keeper dispenses with the Journal, does he dispense with 
 Journalizing % 
 A. No, sir. The Journalizing must be done somewhere : the 
 principle of the Journal must regulate or govern all his 
 entries. 
 
 I 
 
 1* I 
 
 
 
 r. 
 
 * .'X 
 
 t f 
 
 „ I 
 
 \y 
 
 \ 
 

 
 I 
 
 
 f, 
 
 f 
 
 
 ii 
 
 V 
 
 NOTE. 
 
 This book is designed to contain a complete history of the business. 
 
 Entries in this book are made up from various sources ; those embracing 
 «»ies are taken from the sales-book ; those embracing purchases of goods are 
 taken from the invoice-book ; cash sums come from the cash-book ; notes 
 given or received come from the bill-book; while others, of a different or 
 various nature, appear first in the day-book. 
 
 The only rule I can give for making or composing entries in the day-book is 
 this ; adhere to the truth, state the transaction with its parts in the order that 
 tliey occur, use as few words as possible, and let them be to the point or pur- 
 pose. 
 
 From this book the transactions pass in a journalized form, into the journal. 
 
 1 
 
 New York, January 5, 1850. 
 
 , Thomas Blanchard and Christopher C. Marsh having, 
 as per articles of agreement dated 1st instant, entered 
 into partnership, advance the following capital : — 
 
 Thomas Blanchard advances — 
 
 Cash, deposited S26,000 00 
 
 Note No. 1, as per Bill-Book 2,000 00 
 
 C. C. Marsh advances — 
 
 Cash, deposited $12,000 00 
 
 Note No. 2, as per Bill-Book 2,670 00 
 
 Merchandise, as per Invoice-Book, fol. 1 3,125 00 
 
 Charles Lawrence, balance of account 140 00 
 
 it 
 
 Thomas Blanchard and Christr. C. Marsh are indebted 
 to Notes in favor of sundry persons, as per Bill-Book, 
 which are assumed, viz. : — 
 
 No. 1, on Thos. Blanchard, for $1,080 00 
 
 No. 2, on C. C. Marsh, for 1,230 00 
 
 Paid Cash for sundry Store-Fixtures bought of W. 
 Wharton, amounting to .° 
 
 8 
 
 Sold Merchandise to Paul Harris, at sixty days, as per 
 Sales-Book, folio 1 
 
 10 
 
 Sold Merchandise to William Blakeley, on his Note, 
 No. 3, at thirty days, as per Sales-Book, folio- 1 
 
 2,310 
 
 300 
 
 325 
 
 12 
 
 Sold Merchandise to S. H. Lovell, for Cash, as per 
 Sales-Book, fol. 1, amounting to 
 
 13 
 
 500 
 
 125 
 
 Sold Merchandise to Oliver Otis & Co., to be paid for 
 
 on 19th inst., as follows : — 
 
 Half in Cash, and half in Note at thirty days, as per 
 
 Sales-Book : j 2,000 
 
 14 
 
 Bought Merchandise of Henry Austin, at thirty days, 
 as per Invoice-Book, fol. 1 
 
 10 
 
 73 
 
 00 
 
 00 
 
 00 
 
 00 
 
 00 
 
 00 
 
 1,500 i 00 
 
 I 
 
I 
 
 i 
 
 I 
 
 ;;!! 
 
 ''I 
 
 'r, 
 f 
 
 New York, January 14, 1850. 
 
 Bought Merchandise of Rogers & Brothers for Cash, as 
 per Invoice-Book, fol. 2 
 
 16 
 
 Bought Merchandise of Rogers & Brothers, on our 
 Note, No. 3, at ninety days, as per Invoice-Book 
 
 (I 
 
 2 i 
 
 2 
 
 Bought of Christopher Bernard an invoice of Rice, 
 amounting to, per Invoice-Book, $3,200 ; and paid him 
 as foUow^s : — 
 
 In Cash, amounting to $2,000 00 
 
 In Merchandise, as per Sales-Book 1,200 00 
 
 17 ._ _ 
 
 Lent Cash to James Truman, until 22d inst 
 
 19 
 
 Received of Oliver Otis & Co., for balance of account, 
 as follows : — 
 
 Their Note, No. 4, at thirty days, for $1,000 00 
 
 In Cash, amounting to 1,000 00 
 
 20 _ 
 
 Sold Merchandise for Cash, to sundry persons, as per 
 Sales-Book 
 
 .21 :^ 
 
 Received of Paul Harris his Note, No. 5, at sixty days, 
 dated 8th inst., for bill of that date 
 
 22 
 
 Received Cash of James Truman in full for loan of 
 17th inst 
 
 <i 
 
 Delivered to Henry Austin our Note, No. 4, at thirty 
 days, for bill of 14th inst 
 
 24 .___ 
 
 Sold Merchandise this day, as follows : — 
 To S. H. Lovell, on account, as per Sales- 
 Book $250 00 
 
 For Cash to sundry persons 160 00 
 
 $ 800 i 00 
 
 74 
 
 2,100 
 
 250 
 
 00 
 
 3,200 , 00 
 
 1,000 00 
 
 2,000 CO 
 
 410 
 
 CO 
 
 325 00 
 
 1,000 ! 00 
 
 1,500 00 
 
 CO 
 
 New York, January 26, 1850. 
 
 Sold Merchandise as follows, as per Sales-Book : — 
 
 To Oliver Otis & Co., on account $200 00 
 
 To William Blakeley, on account 200 00 $ 400 00 
 
 28 
 
 Lent Cash to James Truman, on his Note, No. 6, at 
 
 twelve months, endorsed by Paul Harris $2,000 00 
 
 Interest for one year, at 6 ®|q, added 121 00 
 
 30 
 
 Paid Cash for our Note, No. 2, in favor of T. P. Cope 
 & Sons, now due 
 
 February 2. 
 
 Paid Henry Austin for our acceptance, No. 1, for $1,080, 
 as follows : — 
 
 In Merchandise, as per Sales-Book $550 00 
 
 " Cash, amounting to 525 32 
 
 " Discount, 26 days allowed, at 6 °|o 4 68 
 
 « 
 
 Paid Cash for sundry expenses of Store last month, as 
 per petty Cash-Book 
 
 Shipped per Brig Franklin, Kay, and consigned to 
 Lockhart & Arrott, New Orleans, to be sold for our 
 
 account, an Invoice of Hardware $1,722 22 
 
 Paid Cash for Insurance and shipping ex- 
 penses 100 00 
 
 Sold to Christopher Bernard, on his Note, No. 7, at six 
 months, the remainder of Hardware, as per Sales-Book 
 
 9 
 
 William Blakeley has failed ; the balance of his account 
 in our favor is $200, for which we have received, in 
 
 ^ash ^100 00 
 
 The Balance is lost XOO 00 
 
 75 
 
 2,121 00 
 
 1,230 00 
 
 1,080 . 00 
 
 65 00 
 
 1,822 22 
 
 320 00 
 
 i 
 
 200 00 
 
t 1 
 
 I 
 
 
 r 
 
 t, 
 
 ,1 fc 
 
 ^1 J 
 
 |. mi 
 
 r 
 
 New York, February 12, 1850. 
 
 Bought Merchandise of Haven & Smith, as per Invoice- 
 Book, $1,240; delivered to them in payment, as fol- 
 lows :— 
 
 Our order at sight on Charles Lawrenr.e, for. $ 140 00 
 Oliver Otis & Co.'s Note, No. 4, duo 21st 
 
 inst.,for 1,000 00 
 
 And Cash for the balance 100 00 
 
 12 
 
 William Blakeley's Note, No. 3, is due and not paid . . 
 
 13 
 
 Received per Steamer Washington, Floyd, consigned to 
 us by Walter Howard, London, pursuant to our order 
 and for our account, an Invoice of Dry Goods, amount- 
 ing to oei,100 sterling $4,888 89 
 
 Signed Bonds, Nos. 5, 6, and 7, to the Cus- 
 tomhouse for Duties 1,222 22 
 
 Paid Cash for Freight 422 00 
 
 $ 1,240 00 
 
 500 00 
 
 (< 
 
 Received of William Blakeley, for balance of his ac- 
 count of $500, as follows : 
 His Draft on S. H. Lovell, accepted at thirty days, 
 
 for $250 00 
 
 Interest added for 33 days 1 37 
 
 Face of the acceptance. No. 8 - 251 37 
 
 William Blakeley having failed, the balance is 
 
 lost 250 00 
 
 16 
 
 Accepted Draft at twenty days' sight. No. 8, drawn by 
 Walter Howard, London, in favor of Lewis Clapier, 
 for 
 
 17 
 
 Delivered Merchandise to Henry Austin, in payment 
 of our Note, No. 4, due 16th inst., as per Sales-Book . . 
 
 20.- 
 
 Shipped per Steamer Atlantic, West, consigned to Wal- 
 ter Howard, London, pursuant to his order, dated Jan- 
 uary 2, as follows : — 
 
 Forward. 
 
 n 
 
 6,533 11 
 
 501 37 
 
 4,444 44 
 
 1500 
 
 00 
 
 New York, February 20, 1850. 
 
 4 
 
 Brought. 
 
 120 tierces Rice, 420 cwt., at $3.50 $1,470 00 
 
 280 barrels Flour, at 4.50 1,260 00 
 
 Paid Cash for shipping expenses 75 00 
 
 Paid Cash to Pha3tiix Insurance Co., for 3 ^|o 
 
 premium on $2,805, and for policy $1 85 15 
 
 Our Commission for shipping $70 12 
 
 Commission for Insuring, at J o|o 14 02 84 14 
 
 I! 
 
 20 
 
 Bought of William Evans, on acccount, 280 barrels 
 Flour, as per Invoice-Book 
 
 21 
 
 Bartered with Christopher Bernard an Invoice of Dry- 
 Goods for the same amount in Rice, as per Invoice- 
 Book . ^ 
 
 <i 
 
 Exchanged our Note, No. 9, at sixty days, with Chris- 
 topher Bernard, for his Note, No. 9, for same amount 
 and time 
 
 >3 
 
 Sold Merchandise to James Truman, as per Sales- 
 Book ; received payment as follows : — 
 
 His Note, No. 10, at sixty days, for $500 00 
 
 In Cash 12O 00 
 
 The balance he is to pay on the 26th inst., by 
 
 an acceptance for 1,000 00 
 
 24 
 
 Sold Merchandise to Strang, Adriance, & Co., on their 
 Note, No. 11, at ninety days, as per Sales-Book 
 
 It 
 
 Discounted, at the Commercial Bank, Strang, Adriance, 
 
 & Co.'s Note, No. 11, for $2,000 00 
 
 Discount for 93 days, at 6 o|q 31 qO 
 
 Cash received ' 
 
 25 
 
 Bought the Schooner Josephine, of Captain C. Da- 
 vis, at $5,000 ; delivered to him in payment as fol- 
 lows : — 
 
 Forward. 
 
 77 
 
 $2,974 
 
 1,260 
 
 29 
 
 1,530 
 
 800 
 
 00 
 
 00 
 
 1,620 
 
 00 
 
 00 
 
 2,000 00 
 
 1,969 
 
 00 
 
 PI 
 
3' 
 
 I 
 
 New York, February 25, 1850. 
 
 Brought. 
 
 Our Bill of Excbange, at sixty days' sight, on Walter 
 
 Howard, for dCoOO sterling $2,222 22 
 
 Exchange allowed us, at 8 ®|o premium 177 78 
 
 And Cash for the balance 2,G00 00 
 
 26 
 
 Received of James Truman his Draft, at sight, on Wil- 
 liam Evans, which is accepted and passed to account, 
 for 
 
 « 
 
 Paid Cash for sundry Bills of Rigging and repairs for 
 our Schooner Josephine 
 
 27 
 
 Shipped per Schooner Josephine, Whipple, consigned 
 to H. B. Walker & Co., Port au Prince, to be sold for 
 our account, as follows : — 
 
 An Invoice of Domestic Goods, received of Irvine 
 Fisher, in exchange for same amount in Imported 
 
 Goods $1'200 00 
 
 200 boxes Soap, 4,000 lbs $ 300 00 
 
 200 " Sperm Candles 1,890 00 2,190 00 
 
 Which we have bougiit of J. R. — 
 
 Dallett & Co., on our Note, No. 10, at sixty 
 days. 
 
 144 boxes Cheese, bought of Charles Law- 
 rence on account 288 00 
 
 Amount of Freight on the above, per our 
 Schooner Josephine 230 00 
 
 28 
 
 $ 5,000 
 
 Insured, at the Phoenix Insurance office, our Shipment 
 to Port au Prince of 27th inst. ; passed our Note, No. 
 
 11, for 2 o|o prem. on $4,028, and policy $ 81 56 
 
 Paid Cash for Shipping expenses 120 00 
 
 it 
 
 Effected Insurance with the Atlantic Insurance Co., on 
 our Schooner Josephine, for $5,000, nt ^ % premium, 
 which we have paid in Cash (policy $1) 
 
 78 
 
 00 
 
 1,000 00 
 
 155 
 
 00 
 
 3,908 
 
 00 
 
 201 
 
 56 
 
 26 00 
 
 New York, March 2, 1850. 
 
 Sold Merchandise as per Sales-Book, as follows : — 
 
 To Oliver Otis & Co., on account $500 00 
 
 To William Blakeley, and received of him in 
 payment, Charles Lawrence's order on us for 
 the same amount 288 00 
 
 M 
 
 Paid Cash for sundry expenses of Store, as per petty 
 Cash-Book 
 
 Received per Brig Clio, Kirk, consigned to us by Jo- 
 seph De Nones, Cadiz, to be sold for his account, an 
 Invoice of Fruit, amounting to $2,700. 
 
 Paid Cash for Freight and Duties. 
 
 (( 
 
 Sold for Cash, as per Sales-Book, as follows : — 
 152 boxes of De Nones' Consignment 
 
 Sold of De Nones' Consignment, as per Sales-Book, as 
 
 follows : — 
 
 To Charles Lawrence, on account — 
 
 25 boxes Oranges, at $3 $75 00 
 
 200 jars Olives, at .50 100 00 
 
 175 00 
 To Thomas Milton, for Cash — 
 100 boxes Oranges, at $3 300 00 
 
 Received Casn for Oliver Otis & Co.'s acceptance. 
 No. 2, at sixty days, now due 
 
 it 
 
 $ 788 , 00 
 
 Received of Oliver Otis & Co., their Note, No. 12, at 
 
 sixty days, for balance of account $700 00 I ■ 
 
 Interest for 63 days added, at 6 ®|o 7 35 
 
 Paid Cash to sundry persons for damages found in Sales 
 for account of J. De Nones, of 3d and 4th inst. $45 00 
 Made allowance to Charles Lawrence, on ac- 
 count, on same Sales 10 00 
 
 79 
 
 45 
 
 00 
 
 460 00 
 
 456 
 
 00 
 
 475 
 
 00 
 
 2,670 00 
 
 707 1 35 
 
 55 
 
 00 
 
 
 ^' I' 
 
 m 
 

 •I 
 
 i ! 
 
 
 |i 
 
 8 
 
 New York, March 9, 1850. 
 
 Sold to S. H. Lovell on account, as per Sales-Bo k, as 
 follows : — 
 
 20 tierces Rice, amounting to $245 00 
 
 /)0 boxes of De Nones* Fruit, at $3 150 00 
 
 Paid Cash for our acceptance, No. 8, in favor of Lewis 
 Clapier, being Walter Howard's Draft, for 
 
 ti 
 
 Received Cash of S. H. Lovell, for balance of account 
 of January 24th 
 
 10 
 
 Sold per L. M. Hoffman & Co., for Cash, De Nones* 
 Consignment, as follows : — 
 
 150 boxes Lemons, at $5 $750 00 
 
 110 " Oranges, at 3.80 418 00 
 
 220 jars Olives, at .50 110 00 
 
 1,278 00 
 
 Auctioneers* Commission, at 3^ °|o 44 73 
 
 Net amount received 
 
 41 
 
 Received to our account the remainder of De Nones' 
 Invoice of Fruit, being 4,000 jars Olives, at market 
 price — S .50 
 
 -^ 12 
 
 Received Cash of Paul Harris, as follows : — 
 
 For his Note, No. 5, now due $325 00 
 
 For 1,000 jars Olives, sold him at $ .52^ 525 00 
 
 14 
 
 Rendered to Joseph De Nones, Cadiz, account-sales of 
 Invoice of Fruit, received per Brig Clio, from which 
 we obtain the following : — 
 Our Commission on total Sales, $4,314.27, at 5 ®|o, 
 
 is $215 71 
 
 Storage, Advertising, and Labor 52 24 
 
 Net proceeds, due May 25 | 50 3,531 32 
 
 16 
 
 Received from Lockhart & Arrott, N. Orleans, account- 
 sales of our Shipment to them of Feb. 4 : Net proceeds 
 
 80 
 
 $ 395 00 
 
 4,444 
 
 44 
 
 250 : 00 
 
 1,233 27 
 
 2,000 00 
 
 850 00 
 
 3,799 27 
 
 2,020 ' 00 
 
 I 
 
 I 
 
 New York, March 16, 1850. 
 
 Received Cash for S. H. Lovell's acceptance, No. 8, 
 being William Blakeley's Draft 
 
 18 
 
 Received Cash of Paul Harris, to be applied for him in 
 buying Merchandise on joint account with us, as per 
 agreement 
 
 20 
 
 Bought of Bunker & Stan- for Cash, in joint account 
 with Paul Harris, 800 barrels Flour, as per Invoice- 
 Book, $4,000. 
 
 Of which Paul Harris's half is $2,000 00 
 
 Our half is 2,000 00 
 
 21 
 
 Received of Paul Harris, to be sold in joint account, 
 500 barrels Flour, at $4.75, amounting, per Invoice- 
 Book, to $2,375; of which our half is 
 
 23 
 
 Sold to E. K. Collins 500 barrels Flour in joint account 
 
 with P. Harris, at $6 
 
 Received payment as follows : — 
 
 Our Note, No. 3, in favor of Rogers & Brothers, due 
 
 April 19th, for $2,100 00 
 
 Interest allowed us for 26 days, at 6 ^'Iq 9 10 
 
 2,090 90 
 Received the balance in Cash 909 10 
 
 25 
 Paid Cash to C. C. Marsh, on account. 
 
 26 
 
 8 
 
 Bought of Brown Brothers & Co. their Bill of Ex- 
 change on Brown, Shipley, & Co., Liverpool, at twenty 
 
 days* sight, for <£1,000 sterling $4,444 44 
 
 Exchange, at 8 ''Iq prem. on $4,444.44 355 56 
 
 Delivered to them in payment — 
 
 400 barrels Flour in joint account with Paul Harris, 
 
 at $6 $2,400 00 
 
 And Cash for the balance 2,400 00 
 
 11 
 
 81 
 
 $ 251 37 
 
 2,000 00 
 
 4,000 00 
 
 1,187 50 
 
 3,000 00 
 
 3,000 00 
 
 300 00 
 
 4,800 00 
 
 4,800 00 
 
 (. 
 
 ■ii i 
 
 i 
 
W P fW i Mff ■ ! ^■ilWB^^igWgTff"' 
 
 K'% 
 
 l|l 
 
 if 
 
 r 
 
 10 
 
 8 
 
 8 
 
 8 
 
 8 
 
 New York, March 27, 1850. 
 
 Sold to Oliver Otis & Co. 200 barrels Flour in joint ac- 
 count with P. Harris, at $6, as per Sales-Book 
 
 Received of them in payment — 
 
 Their Draft at sight, on Wm. Evans, which is accepted' 
 
 in account, for $260 00 
 
 Their Note, No. 14, at sixty days, for 500 00 
 
 And Cash for the balance 440 00 
 
 28 ■■ 
 
 Bartered with Haven & Smith the balance of Flour in 
 joint account with Paul Harris — 200 barrels, at $6.25.. 
 Received of them in exchange — 
 
 227 barrels Mackerel, at $5.50 Si, 248 50 
 
 And Cash 1 50 
 
 30 
 
 Rendered to Paul Harris account-sales of Flour in 
 joint account, showing the following result : — 
 Our Commission on total Sales, $7,850, at 
 
 2i-0|o ^196 25 
 
 Storage on 1,300 barrels 1 mo., at 3 cts 39 00 
 
 Net proceeds, $7,614.75 — 
 
 Of which P. Harris's half is due May 3 | 50. . 3.807 37 
 
 Our half net proceeds is $3,807 38 
 
 Our half cost is 3,18 7 50 
 
 Our net gain is 619 88 
 
 April 1. 
 
 Paid Cash as follows : — 
 
 For sundry expenses of Store last month, as per petty 
 
 Cash-Book $162 00 
 
 To George Loder, for three months* rent of 
 Warehouse 300 00 
 
 ^ 2 umi 
 
 Received per Steamer Crescent City, from Lockhart & 
 Arrott, New Orleans, pursuant to our order, in full for 
 proceeds of our Shipment to them of 4th Feb., Invoice 
 
 of 230 bales Cotton, amounting to $2,020 00 
 
 Paid Cash for Freight and expenses 300 00 
 
 ft 
 
 82 
 
 $ 1,200 
 
 00 
 
 1,200 00 
 
 1,250 ! 00 
 
 1,250 ,00 
 
 4,662 
 
 462 
 
 50 
 
 00 
 
 2,320 00 
 
 8 
 
 8 
 
 8 
 
 New York, April 3, 1850. 
 
 Received of Irvine Fisher, to be sold for his account, 
 Invoice of 300 bags of Laguayra Coffee, amounting 
 to 
 
 Sold Fisher's Coffee as follows : — 
 To S. H. Lovell, at 4 months, 75 bags, as per Sales- 
 Book $1,350 00 
 
 To Oliver Otis & Co., on account, 50 bags, as 
 
 per Sales-Book 810 00 
 
 Renewed C. Bernard's Note, No. 1, for $2,000, now due. 
 Received his Note, No. 15, for same amount, and Cash 
 for 63 days' interest 
 
 8 
 
 Sold to H. Burrell & Co., for cash, 100 bags Fisher's 
 Coffee, as per Sales-Book, $1,440 ; which amount we 
 have paid over to Irvine Fisher on account 
 
 -10 
 
 Paid Cash to sundry persons for damages found in Sales 
 of Fruit on account of Joseph De Nones, amounting 
 
 to $22 00 
 
 Allowed to ourselves for defects, &c., in 4,000 
 
 jars Olives, taken to our account March 10 .. 40 00 
 
 11 
 
 Received of S. H. Lovell, for bill of 6th inst., his Note, 
 
 No. 16, at 4 months, for 
 
 Discounted the above Note for Irvine Fisher, and paid 
 
 him in Cash $1,322 33 
 
 In Discount, allowed us 27 67 
 
 13 
 
 Shipped per Brig Pilot, Milton, and consigned to Jo- 
 seph Eaton, Boston, to be sold for our account, as fol- 
 lows : — 
 
 115 bales Louisiana Cotton $2,160 00 
 
 1000 jars Olives, at .50 500 00 
 
 50 bags Coffee of Fisher's Consignment 
 
 taken to our account 720 00 
 
 Paid Cash for Insurance and Shipping ex- 
 penses 120 00 
 
 83 
 
 1,350 
 
 1,350 
 
 11 
 
 $3,375 00 
 
 2,160 00 
 
 21 00 
 
 1,440 00 
 
 62 00 
 
 00 
 
 00 
 
 3,500 
 
 00 
 
* 
 
 H ( ! I 
 
 m 
 
 If i 
 
 ill 
 
 I 
 
 12 
 
 New York, April 14, 1850. 
 
 10 
 
 Received of Oliver Otis & Co., for sale of 6th inst, as 
 
 follows : — 
 
 Their order at sight on Irvine Fisher, which is accepted 
 
 in account, for $310 00 
 
 Cash, amounting to 500 00; 
 
 15 
 
 Delivered to Thomas Blanchard, on account — 
 
 Cash, amounting to $500 00 
 
 3 bags Fisher's Coffee, per Sales-Book 43 20 
 
 16 
 
 Sold to Paul Harris, for Cash, the balance of Fisher's 
 Coffee — 22 bags, as per Sales-Book 
 
 10 
 
 Rendered to Irvine Fisher account-sales of his consign- 
 ment of Coffee, showing the following result : — 
 Total Sales, $4,680 ; on which our Commission, at 
 
 2^o|^^is $117 00 
 
 Storage, Advertising, and Labor 18 00 
 
 Net proceeds 4,545 00 
 
 18 
 
 Sold to Thomas Owen & Son, 150 tierces Rice, as per 
 Sales-Book 
 
 Received of them in payment as follows : — 
 
 Irvine Fisher's Note to them, No 17, for $1,^00 00 
 
 And Cash, amounting to 637 50 
 
 (( 
 
 Delivered to Irvine Fisher, for balance of his account, 
 as follows : — 
 
 His Note, No. 17, due 20th inst $1,200 00 
 
 And Cash, amounting to 245 00 
 
 20 : 
 
 Bought at auction of Wilmerdings & Mount, in joint 
 account with Henry Austin, 500 doz. Madeira Wine, 
 at $10 
 
 Delivered in payment, as follows : — 
 
 Our Note, No. 12, at 4 months, for $2,033 33 
 
 C. Bernard's Note, No. 9, for $800 00 
 
 J. Truman's Note, No. 10, for 500 00 1,300 00 
 
 Amount of our J interest 3,333 33 
 
 Henry Austin paid W. & M. for his ^, amount- 
 ing to 1,666 67 
 
 84 
 
 $ 810 
 
 00 
 
 543 
 
 20 
 
 316 
 
 80 
 
 4,680 
 
 00 
 
 1,837 
 
 50 
 
 1,837 
 
 50 
 
 1,445 
 
 00 
 
 5,000 
 
 00 
 
 5,000 
 
 00 
 
 
 
 10 
 
 10 
 
 10 
 
 10 
 
 10 
 
 11 
 
 New York, April 21, 1850. 
 
 Paid Cash as follows : — 
 
 For 12 lottery Tickets $120 00 
 
 For Discount on $475 uncurrent money, 1 J °lo • 8 31 
 
 24 
 
 Sold Brown Brothers & Co.'s Bill of Exchange (No. 13) 
 on Brown, Shipley, & Co., Liverpool, drawn for 061,000 
 sterling $4,444 44 
 
 Exchange, at 8J o|^ premium ... 377 78 $4,822 22 
 
 Brokerage, J ^\q 
 
 Received in payment as follows : — 
 
 Our Note, No. 10, in favor of J. R. Dallett & Co., due 
 
 May 1st, for $2,190 00 
 
 Interest for 7 days allowed us 2 55 
 
 Allowed for the Note 2,187 45 
 
 Cash for the balance 2,622 71 
 
 Premium on the Bill, as above 377 78 
 
 Paid Brokerage, " 12 06 
 
 u 
 
 Renewed our Note, No. 9, in favor of C. Bernard, for 
 $800, by our Note No. 13, for same amount and time, 
 and paid Cash for 63 days' interest on new Note 
 
 27 
 
 Bought at auction of Gerard & Belts, 50 chests Tea, 
 amounting to $4,725 ; and transferred the same to J. 
 Percival for 3 ^\q advance, which is received in Cash. . 
 
 «< 
 
 .Q Received Cash for proceeds of tickets in Lottery, 
 bought on 21st inst 
 
 41 
 
 Received Cash enclosed in an anonymous letter ad- 
 dressed to us 
 
 28 
 
 Received per Schooner Josephine, Whipple, from H. B. 
 Walker & Co., Port au Prince, an invoice of 37 tons 
 St. Domingo Hides, being net proceeds of our Consign- 
 ment to them of Feb. 28, account-sales now received, 
 
 amounting to $6,000 00 
 
 Value of the Freight per our Schooner 200 00 
 
 85 
 
 141 
 
 13 
 
 128 31 
 
 530 
 
 12 06 4,810 16 
 
 4,810 16 
 
 365 72 
 
 8 . 40 
 
 75 
 
 1,700 00 
 
 00 
 
 6,200 jOO 
 
 ! 
 

 M 
 
 \^' 
 
 
 14 
 
 11 
 
 11 
 
 11 
 
 11 
 
 11 
 
 11 
 
 New York, April 28, 1850. 
 
 Received per Schooner Josephine, Whipple, consigned 
 to us by H. B. Walker & Co., Port au Prince, to be sold 
 for their account, an invoice of 20,000 feet Mahogany, 
 amounting to $2,400 ; which we have taken to our ac- 
 count at the market price, 15 cts. per fV $3,000 00 
 
 Charges : — 
 
 Freight per our Schooner $125 00 
 
 Expenses paid in Cash 75 00 
 
 Our Commission on $3,000, at 5 ^Iq 150 00 350 00 
 
 Net proceeds due H. B. Walker & Co 
 
 29 
 
 Received Cash of Capt. Whipple for freight per Schr. 
 Josephine, on her voyage to Port au Prince 
 
 30 
 
 Paid Cash for sundry expenses of Store this month, as 
 per petty Cash-Book 
 
 << 
 
 Received Cash of Harmony's Nephews Sc Co., for 
 amount of Draft on them at sight, remitted to us by[| 
 Joseph Ruiz, P. Principe, for collection $5,000 00 
 
 Our Commission, at \ 
 
 1 
 
 0- • 
 
 {( 
 
 Bought for Cash of A. Belmont, his Bill of Exchange, 
 No. 18, at sixty days' sight, on Rothschild & Co., Paris, 
 per order of H. B. Walker & Co., Port au Prince, 
 to whom we have remitted the same : 
 Bill for 14,062.73 francs, exchange at fr. 5.32 per dollar, 
 
 amounting to $2,643 37 
 
 Our Commission on $2,650, at i « | q 6 63 
 
 ({ 
 
 Bought for Cash of B. Blanco, his Draft, No. 19, at 15 
 days' sight, on Francia ^ Co., Cadiz, and remitted the 
 same to Joseph De Nones, Cadiz, for balance of account 
 due him in Cadiz— $3,469.32. 
 
 Face of the Draft $3,454 80 
 
 Exchange, at IJ °|o discount 51 82 
 
 Paid for the Draft 
 
 Interest for 25 days in our favor on $3,469.32, due J. 
 De Nones May 25 1 50 
 
 86 
 
 n 
 
 2,650 
 
 500 
 
 200 
 
 00 
 
 00 
 
 00 
 
 12 50 I i 4,987 ! 50 
 
 2,650 
 
 00 
 
 3,402 I 98 
 
 14 
 
 52 
 
 11 
 
 11 
 
 12 
 
 12 
 
 12 
 
 12 
 
 12 
 
 New York, April 30, 1850. 
 
 Bought for Cash of Moses Taylor & Co., their Bill of 
 Exchange, No. 20, at 30 days' sight, on Drake Brothers 
 & Co., Havana, on account of Joseph Ruiz, Puerto 
 Principe, to whom we have remitted the same : 
 
 Face of the Bill $5,050 63 
 
 Exchange, at 11 o|o discount, favor J. Ruiz, 75 75 
 
 Paid for the Bill 4,974 88 
 
 Our Commission on $5,050.63, at J o|^ 12 62 
 
 « 
 
 Bought for Cash of Jacob Little & Co. — 
 
 10,500 Spanish Dollars $10,500 00 
 
 78 75 
 
 At Premmm of f o,q 
 
 « 
 
 Balances of Interest in favor of the following, as per 
 accounts-current rendered to this date : — 
 
 Thomas Blanchard, partner $494 16 
 
 C. C. Marsh, " 297 69 
 
 « 
 
 Balance of Interest in our favor, as per account-current 
 rendered to C. Lawrence, to this date 
 
 <« 
 
 Balance of Interest in favor of Paul Harris, as per ac- 
 count-current rendered him to this date 
 
 « 
 
 CLOSING ENTRIES. 
 
 Profit and Loss account must be debited for the follow- 
 ing balances, being losses, as per Balance-Sheet : — 
 
 Store-Fixtures, loss $ 30 00 
 
 Store-Expenses, loss 662 76 
 
 Discount and Interest, loss 613 27 
 
 « 
 
 Profit and Loss account must be credited for the follow- 
 ing balances, being gains as per Balance-Sheet : — 
 
 Merchandise, ^ gain $3,562 86 
 
 Schooner Josephine, gain 874 00 
 
 Commission, gain 794 85 
 
 Exchange, gain 152 70 
 
 Shipment to New Orleans, gain 197 73 
 
 Shipment to P. au Prince, gain 1,890 44 
 
 791 
 
 15 
 
 $ 4,987 50 
 
 10,578 ' 75 
 
 85 
 
 07 
 
 67 
 
 1,306 03 
 
 7,472 63 
 
 11 
 
it! 
 
 n 
 
 .:.! 
 
 
 16 
 
 12 
 
 12 
 
 13 
 
 13 
 
 New York, April 30, 1850. 
 
 The net gain accruing from the business the last four 
 months, as appears by the Profit and Loss account, 
 is $8,546.48— 
 
 Of which Thomas Blanchard's half is $4,273 24 
 
 Of which C. C. Marsh's half is 4,273 24 
 
 « 
 
 Balances of Property and Debts in our favor, as per 
 Balance-Sheet, as follows :— 
 
 Cash, balance on hand $26,274 07 
 
 Merchandise, balance on hand 15,000 00 
 
 Bills Receivable, balance on hand 6,998 35 
 
 Store-Fixtures, valued at 270 00 
 
 Schr. Josephine, first cost 5,000 00 
 
 Charles Lawrence, balance in our favor 167 07 
 
 S. H. Lovell, balance in our favor . . . 395 00 
 
 Walter Howard, balance in our favor . . . 307 62 
 
 Shipment to Boston, no account-sales .... 3,500 00 
 
 Comp. 2 Merchandise, our § on hand 3,333 33 
 
 - ' (( 
 
 Balances in favor of Sundries, as per Balance-Sheet :— 
 
 Bills Payable, Notes outstanding $4,137 11 
 
 Paul Harris, balance in his favor 4,988 20 
 
 <( _ 
 
 The Balance recount of April 30, 1850, shows the 
 amount of our net capital — 852,120.13; of which — 
 Thomas Blanchard's share, as appears by his account, 
 
 is $31,144 20 
 
 C. C. Marsh's share, as appears by his ac- 
 count, is 20,975 93 
 
 I! 
 
 $8,546 4S 
 
 61,245 
 
 44 
 
 9,125 
 
 31 
 
 52,120 13 
 
 .t 
 
 14 
 
 14 
 
 14 
 
 14 
 
 14 
 
 14 
 
 New York, May 10, 1850. 
 
 17 
 
 Amount of Salaries due the following Clerks in our 
 employment : — 
 
 C. J. Martin, from January 5 to 5th inst $300 00 
 
 John Sims, from February 1 to 1st inst 200 00 
 
 $ 500 00 
 
 15 
 
 Delivered to Paul Harris our Note, No. 16, at three I 
 months, dated 1st inst., for part of balance of ac- 
 count $1,988 20 
 
 Interest added, 93 days 30 81 
 
 16 r 
 
 BtMight of Strang, Adriance, & Co., 50 shares Erie 
 
 Railroad Stock, at $80 per share $4,000 00 
 
 Delivered to them in payment, our Draft on 
 Joseph Eaton & Co., Boston, at three days* 
 
 sight, for 4,020 10 
 
 Exchange allowed, at ^ ^L discount 
 
 20 10 
 
 18 
 
 Received from Joseph Eaton & Co., Boston, account- 
 sales of our Consignment to them of April 13th : Net 
 proceeds 
 
 << 
 
 Received from Joseph Eaton & Co., Boston, account- 
 current showing a balance of Interest in their favor 
 
 of $ 25 00 
 
 Also, their Draft, No. 21, at 60 days, on Eagle 
 
 & Hazard, accepted, for balance due us 554 90 
 
 20 ~" 
 
 Delivered our Note, No. 17, at seven months, to the 
 Atlantic Mutual Insurance Co., for 2 °|q premium on !!" 
 $20,000 in open policy 
 
 23 
 
 Shipped per Steamer Panama, Bailey, consigned to 
 Simmons, Hutchinson, & Co., San Francisco, to be sold 
 for the joint account of Henry Austin and ourselves, as 
 follows : — 
 
 100 boxes refined Sugar $1,150 00 
 
 80 M. Havana Segars 1,440 00 
 
 10,500 Spanish Dollars $10,500 00 
 
 At 1 ''io premium 105 00 10,605 00 
 
 11 
 
 12 
 
 Forward 13,195 00 
 
 89 
 
 i; 
 
 2,019 0] 
 
 4,000 00 
 
 4,600 00 
 
 579 90 
 
 401 25 
 
 11 
 
!i; 
 
 lilt 
 
 iiti 
 
 18 
 
 New York, May 23, 1850. 
 
 14 
 
 Brought S13,105 00 
 
 Paid Cash for Shipping expenses 125 00 
 
 Insured at the Athmtic Mutual Insurance Co., 
 
 $14,654, at 2 o|o prem. entered on our Policy 293 04 $13,G13 04 
 
 Of which our half is 6,80G 52 
 
 Of which Henry Austin's half is 6,806 52 13,613 04 
 
 30 
 
 15 
 
 Bought Merchandise during this month, as per Invoice- 
 Book, as follows : — 
 
 On our Notes, viz. : — 
 
 No. 14 to T. Owen & Son 4th, S300 00 
 
 " 15 to " " 6th, 200 00 
 
 " 18 to Trujillo & Barreiras. .25th, 320 00 
 " 19 to Harmony's Nephews 
 
 & Co 26th, 630 00 
 
 " 20 to Spofford, Tileston, 
 
 & Co 28th, 270 00 1,720 00 
 
 »• 
 
 On Account — 
 
 Of Henry Austin 5th, $200 00 
 
 16th, 100 00 $300 00 
 
 Of James Truman 10th, 212 00 
 
 I Of Edward G. Fail & Co 13th, 375 00 
 
 i Of William Evans 18th, 1 10 00 
 
 " 25th, 175 00 
 
 I " " " 30th, 135 00 420 00 
 
 Of Barclay & Livingston 22d 550 00 
 
 00 
 
 
 3,577 00 
 
 15 
 
 15 
 
 New York, May 30, 1850. 
 
 19 
 
 II 
 
 Sold Merchandise during this month, as per Sales-Book, 
 as follows : — 
 
 For Notes, viz. : — 
 
 No. 22, on A. G. Beck 15th, $352 00 
 
 " 23, on W. F. Mott, Jr 20th, 415 00 
 
 ♦* 24, on A. Aranguran 27th, 611 00 1,378 00 
 
 On Account — 
 
 To S. H. Lovell 12th, $310 00 
 
 " 17th, 190 00 $500 00 
 
 it 
 
 To Paul Harris 18th, $150 00 
 
 « 28th, 150 00 
 
 " 30th, 255 00 $555 00 
 
 it 
 
 To Oliver Otis & Co 20th, 562 50 
 
 " Henry Austin 22d, 337 50 
 
 " Barclay & Livingston 29th, 175 00 $ 3,508 
 
 00 
 
 (I 
 
 Received Cash during this month, as per Cash-Book, as 
 follows : — 
 
 For Merchandise, amount of cash sales — 
 
 this month $1,266 00 
 
 For Notes due and discounted this month, 
 
 viz.:— No. 12 for $707 35 
 
 " 14 for 500 001,207 35 
 
 10 50 
 350 00 
 
 For Discount and Interest, amount 
 
 Of Oliver Otis & Co 23d, $200 00 
 
 30th, 150 00 
 
 It 
 
 <( 
 
 Of Henry Austin 28th, 
 
 Of Charles Lawrence 28th 
 
 Of S. H. Lovell 30th 
 
 150 00 
 167 07 
 300 00 
 
 3,450 92 
 
 91 
 
■; 
 
 ■Vi' 
 
 \i\ 
 
 f 
 
 IMI 
 
 
 
 fi.li 
 
 j: t 
 
 It' i 
 
 i5 S 
 
 1'^" 
 
 
 20 
 
 15 
 
 New York, May 30, 1850. 
 
 ■— —I -l|^■ ■! !■ .11 M ■■ ■ ■lU i lM ■ ■■■I. ■ ■ .1 ■ ■ M l. .- .. MM W .^ ^ ■! I ■ _ 11 I I M.l— M- ^ ■■.!■ >^l « ■ ■! ^ !■ I.I— ■■»■ 
 
 Paid Cash during this month, as per Cash-Book, as 
 follows : — 
 
 For Merchandise, cash purchases this month.. $610 50 
 For our Notes, due this month, viz. — 
 
 No. 14 for $300 00 
 
 " 15 for 200 00 500 00 
 
 For Discount and Interest, amount 12 75 
 
 For Store-Expenses, amount 75 95 
 
 To Thomas Blanchard 15th, $ 98 23 
 
 30th, 100 00 198 23 
 
 To Paul Harris, his Draft at sight — 
 
 5th, for $2,500 00 
 " " " 10th, 500 003,000 00 
 
 To C. C. Marsh 15th, 200 00 
 
 30th, 100 00 300 00 
 
 To William Evans 12th 200 00 
 
 • C. J. Martin IGth 150 00 
 
 *« John Sims 16th 100 00 
 
 « 
 
 An error occurred in a journal entry of April 30 (page 
 12), in which Paul Harris was charged for a balance 
 of interest of $6.67 when he should have been credited 
 
 y 
 
 $5,147 43 
 
 13 34 
 
 ]H 
 
 9ii 
 
M 
 
 1 1- i 
 
 ;i 
 
 ili 
 
 NOTE. 
 
 In this book consists the science of book-keeping — its entries are composed 
 from those of the day-book, and embrace only our debtors and creditors, ar- 
 ranged to facilitate our posting or transferring them to the Icger. This method, 
 having the day-book and journal entries separate, relieves the book-keeper of 
 a double task ; for when they are united, he has not only to point out the 
 debtors and creditors of a transaction, but has also, and at the same moment, 
 to state all the circumstances, which must of necessity be done in broken sen- 
 tences. But by this plan or arrangement the book-keeper may give a pure and 
 simple relation of any transaction and leave the debtors and creditors for a 
 separate entry and futurq consideration. 
 
 In examining an account in the leger, we need not go through this book to 
 the day-book, but we may refer, for any explanation?, from the leger (by the 
 dates), directly to the day-book entries 
 
 2 
 
 5 
 
 4 
 
 10 
 
 1 
 1 
 
 G 
 1 
 1 
 
 6 
 2 
 
 10 
 4 
 
 5 
 
 4 
 
 2 
 4 
 
 11 
 4 
 
 4 
 
 11 
 
 4 
 2 
 
 4 
 6 
 
 New York, January 5, 1850. 
 
 1 
 
 Sundries Dr. To Sundries. 
 
 Cash $38,000 00 
 
 Bills Receivable 4,670 00 
 
 Merchandise 3,125 Or* 
 
 Charles Lawrence 140 00 , $ 15,935 
 
 To Thomas Blanchard 28,000 00 
 
 " C.C. Marsh 17,935 00 45,935 
 
 00 
 
 00 
 
 « 
 
 Sundries Dr. To Bills Payable. 
 
 Thomas Blanchard $1,080 00 
 
 C. C. Marsh 1,230 00 
 
 2,310 00 
 
 Store-Fixtures 
 
 To Cash 
 
 Dr. 
 
 8 
 
 Paul Harris Dr. 
 To Merchandise 
 
 10 
 
 Bills Receivable Dr. 
 
 To Merchandise .... 
 
 12 
 
 Cash Dr. 
 To Merchandise 
 
 13 
 
 Olive: Otis & Co. Dr. 
 To Merchandise 
 
 14 
 
 Merchandise Dr. 
 
 To Henry Austin . . . 
 
 « 
 
 Merchandise 
 
 To Cash, 
 
 Dr. 
 
 16 
 
 300 00 
 
 325 00 
 
 500 00 
 
 125 00 
 
 2,000 00 
 
 1,500 00 
 
 800 00 
 
 Merchandise Dr. 
 
 To Bills Payable 2,100 
 
 05 
 
 ! ■" ' ■ 
 
I 
 
 Hi a. 
 
 12 
 
 11 
 5 
 2 
 
 2 
 4 
 
 5 
 
 10 
 
 
 11 
 
 c 
 
 4 
 
 12 
 
 2 
 
 4 
 11 
 13 
 
 5 
 2 
 
 7 
 
 New York, January 16, 1850. 
 
 4 Merchandise Dr. To Sundries. 
 
 2 To Cash $2,000 00 
 
 4 " Merchandise 1,200 00 ! 
 
 17 
 
 James Truman 
 To Cash 
 
 Dr. 
 
 $ 3,200 ! 00 
 
 19 
 
 Sundries Dr. To Oliver Otis & Co. 
 
 Bills Receivable Sl,000 00 
 
 Cash 1,000 00 
 
 Cash 
 
 20 
 Dr. 
 
 To Merchandise 
 
 21 
 
 Bills Receivable Dr. 
 To Paul Harris 
 
 2^ 
 
 Cash Dr. 
 
 To James Truman . . . 
 
 (( 
 
 Henry Austin Dr. 
 To Bills Payable 
 
 24 - 
 
 Sundries Dr. To Merchandise. 
 
 S. H. Lovell $250 00 
 
 Cash 160 00 
 
 2G 
 
 Sundries Dr. To Merchandise. 
 
 Oliver Otis & Co $200 00 
 
 William Blakeley 200 00 
 
 28 
 
 Bills Receivable Dr. • To Sundries. 
 
 To Cash $2,000 00 
 
 *♦ Interest .' 12100 
 
 96 
 
 1,000 00 
 
 2,000 00 
 
 250 00 
 
 325 00 
 
 1,000 00 
 
 1,500 00 
 
 410 00 
 
 400 00 
 
 2,121 00 
 
 New York, January 30, 1850. 
 
 3 
 
 6 
 it 
 
 Bills Payable 
 
 To Cash 
 
 Dr. 
 
 February 2. 
 
 G 
 4 
 2 
 
 7 
 
 8 
 2 
 
 IG 
 4 
 2 
 
 5 
 
 4 
 
 13 
 2 
 
 S 
 
 4 
 
 10 
 5 
 2 
 
 Bills Payable Dr. To Sundries. 
 
 To Merchandise $550 00 
 
 " Cash 525 32 
 
 " Discount 4 68 
 
 I 
 $ 1,230 i 00 
 
 I 
 
 I 
 
 « 
 
 Store-Expenses 
 To Cash 
 
 Dr. 
 
 Shipment to New Orleans Dr. To Sundries. 
 
 To Merchandise $1,722 22 
 
 " Cash 100 00 
 
 Bills Receivable Dr. 
 To Merchandise 
 
 Sundries Dr. To William Blakeley. 
 
 Cash $100 00 
 
 Profit and Loss 100 00 
 
 12 
 
 Merchandise Dr. To Sundries. 
 
 To Charles Lavirrence $ 140 00 
 
 " Bills Receivable 1,000 00 
 
 « Cash 100 00 
 
 13 
 5 
 
 4 
 
 13 
 
 G I 
 
 2 
 
 1 
 
 William Blakeley Dr. 
 
 To Bills Receivable . 
 
 13 
 
 Merchandise Dr. To Sundries. 
 
 To Walter Howard $4,888 89 
 
 " Bills Payable 1,222 22 
 
 « Cash 422 00 
 
 13 
 
 97 
 
 1,080 ; 00 
 
 Go 00 
 
 1,822 22 
 
 320 00 
 
 200 ' 00 
 
 l,Ii»40 00 
 
 500 00 
 
 C,533 11 
 
 til 
 
 Hi 
 
 i 
 
H 
 
 it 'i 
 
 fti" 
 
 N' 
 
 
 New York, February 13, 1850. 
 
 5 
 
 s 
 
 I 
 
 !l3 
 
 I 7 
 
 1.3 
 
 G 
 
 Sundries Dr. To Sundries. 
 
 Bills Receivable $251 37 
 
 Profit and Loss 250 00 " $ 501 37 
 
 To William Blakeley 500 00 
 
 " Interest 1 37 
 
 ■\\ 
 
 I 
 501 37 
 
 16 
 
 G 
 4 
 
 113 
 
 ' 4 
 
 2 
 
 9 
 
 i 4 
 14 
 
 4 
 
 4 
 
 5 
 
 G 
 
 5 
 
 2 
 
 12 
 
 5 
 4 
 
 5 
 . 2 
 
 i "^ 
 I 
 
 Walter Howard Dr. 
 To Bills Payable 
 
 17 
 
 Bills Payable Dr. 
 To Merchandise 
 
 4,444 44 
 
 1,500 00 
 
 20 
 
 Walter Howard Dr. To Sundries. 
 
 To Merchandise $2,730 00 
 
 Cash 160 15 
 
 84 14 
 
 (( 
 
 " Commission 
 
 « 
 
 Merchandise Dr. 
 
 To William Evans . . . 
 
 2,974 29 
 
 1,2C0 00 
 
 Merchandise 
 
 To Merchandise 
 
 21 
 Dr. 
 
 1,530 00 
 
 <i 
 
 Bills Receivable Dr. 
 To Bills Payable 
 
 23 - 
 
 Sundries Dr. To Merchandise. 
 
 Bills Receivable $ 500 00 
 
 Cash 120 00 
 
 .Tames Truman 1,000 00 
 
 800 00 
 
 1,C20 
 
 -24 
 
 Bills Receivable Dr 
 To Merchandise 
 
 00 
 
 2,000 *00 
 
 t€ 
 
 Sundries Dr. To Bills Receivable. 
 
 Cash $1,9G9 00 
 
 Discount 31 00 
 
 2,000 00 
 
 .1 
 
 98 
 
 New York, February 25, 1850. 
 
 7 ! 
 13 ' 
 9 
 2 
 
 14 
 12 
 
 1 
 Schooner Josephine Dr. To Sundries, i 
 
 To Walter Howard $2,222 22 
 
 " Exchange 177 73 i 
 
 " Cash 2,G00 00 $5,000 
 
 00 
 
 26 
 
 William Evans Dr. 
 
 To James Truman . . . 
 
 7 
 2 
 
 16 
 4 
 G 
 
 10 
 7 
 
 16 
 G 
 2 
 
 7 
 2 
 
 Schooner Josephine 
 To Cash 
 
 it 
 
 Dr. 
 
 il 
 
 1,000 00 
 
 155 00 
 
 27 
 
 Shipment to Port au Prince Dr. To Sundries. 
 
 To Merchandise $1,200 00 
 
 " Bills Payable 2,190 00 
 
 " Charles Lawrence 288 00 
 
 ** Schooner Josephine 230 00 
 
 28 
 
 Shipment to Port au Prince Dr. To Sundries. 
 
 To Bills Payable $ 81 5G 
 
 " Cash 120 00 
 
 it 
 
 Schooner Josephine 
 To Cash... 
 
 Dr. 
 
 March 2. 
 
 4 
 
 11 
 
 10 
 
 Sundries Dr. To Merchandise. 
 
 Oliver Otis & Co ^500 00 
 
 Charles Lawrence 238 00 
 
 u 
 
 8 Store-Expenses 
 2 To Cash 
 
 Di 
 
 ; t 
 
 ! t 
 I 
 
 99 
 
 2G 
 
 45 
 
 3,908 00 
 
 201 56 
 
 00 
 
 788 00 
 
 03 
 
 i 
 
 I lit 
 
 »! 
 
 I 
 
 ml 
 ill 
 
 ■It I 
 
'•Mi«H««MMMiaAiii 
 
 Hi 
 
 
 I 
 
 • f 
 
 1 u 
 
 I ''I 
 
 p 
 
 ii 
 
 iiii 
 
 
 6 
 
 New York, March 3, 1850. 
 
 I 
 
 17 j De Nones' Consignment Dr. 
 2 To Cash 
 
 <( 
 
 2 
 17 
 
 17 
 10 
 
 2 
 
 Cash Dr. 
 
 To De Nones* Consignment, 
 
 4 _ 
 
 Sundries Dr. To De Nones' Consign't. 
 
 Charles Lawrence $175 00 i 
 
 Cash 300 00 
 
 5 
 
 6 
 
 Cash Dr. 
 
 To Bills Receivable . . 
 
 ii 
 
 11 
 
 7 
 
 17 
 
 2 
 
 10 
 
 12 
 
 4 
 
 17 
 
 6 
 
 2 
 
 12 
 
 2 
 17 
 
 4 
 17 
 
 Bills Receivable Dr. To Sundries. 
 
 To Oliver Otis & Co $700 00 
 
 " Interest 7 35 
 
 S. H. Lovell Dr. To Sundries. 
 
 To Merchandise $245 00 
 
 " De Nones* Consignment 150 00 
 
 t< 
 
 Bill? Payable 
 
 To Cash 
 
 Dr. 
 
 Ii 
 
 Cash Dr. 
 ToS.H. Lovell 
 
 10 
 
 ; Cash Dr. 
 
 To De Nones* Consignment. 
 
 Merchandise Dr. 
 
 To De Nones* Consignment. 
 
 $ 460 
 
 De Nones' Consignment Dr. To Sundries. 
 
 To Cash $45 00 ! 
 
 *• Charles Lawrence 10 00 ! 
 
 100 
 
 456 
 
 00 
 
 00 
 
 475 00 
 
 2,G70 00 
 
 707 35 
 
 55 00 
 
 395 00 
 
 4,444 
 
 44 
 
 250 00 
 
 1,233 27 
 
 2,000 00 
 
 2 
 5 
 4 
 
 14 
 
 16 
 
 5 
 
 2 
 10 
 
 10 
 
 New York, March 12, 1850. 
 
 ^^sh . ^^' To Sundries. 
 
 To Bills Receivable $325 00 
 
 *' Merchandise 525 00 $ 850 00 
 
 14 
 
 17 De Nones' Consignment Dr. To Sundries. 
 
 9 To Commission $ 215 71 
 
 ® ■ " Store-Expenses 52 24 
 
 " Joseph De Nones 3,531 32 3,799 27 
 
 16 
 
 14 Lockhart & Arrott 
 
 Dr. 
 
 To Shipment to New Orleans 2,020 00 
 
 tt 
 
 2 Cash Dr. 
 
 To Bills Receivable . . 
 
 18 
 
 251 37 
 
 Cash Dr. 
 To Paul Harris 
 
 2,000 00 
 
 - 20 
 
 2 Sundries Dr. To Cash. 
 
 18 Company 1 Merchandise $2,000 00 
 
 10 Paul Harris 2',000 00 
 
 4,000 00 
 
 21 
 
 18 Company 1 Merchandise Dr. 
 
 To Paul Harris, 
 
 23 
 
 -Sundries Dr. To Sundries. 
 6 Bills Payable $2,100 00 
 
 909 10 
 
 Cash. 
 
 1,187 50 
 
 3,009 : 10 
 
 18 
 7 
 
 To Company 1 Merchandise 3,000 00 
 
 " Interest 9 jq 
 
 1 C. C. Marsh 
 
 *i 
 
 To Cash 
 
 25 
 
 Dr. 
 
 3,009 10 
 
 I 
 
 300 00 
 
 101 
 
 ii! 
 
 
 
 ii 
 
I 
 
 « J 
 
 i if 
 
 i 
 
 8 
 
 IS 
 2 
 
 18 
 
 ' 14 
 
 I _ 
 
 2 
 
 18 
 9 
 
 8 
 
 10 
 
 8 
 
 
 8 
 2 
 
 4 
 
 14 
 
 2 
 
 17 
 12 
 11 
 
 New York, March 26, 1850. 
 
 } 
 
 - Sundries Dr. To Sundries. 
 
 5 Bills Receivable S4,444 44 
 
 9 Exchange 355 66 $4,800 00 
 
 To Company 1 Merchandise 2,400 00 
 
 " Cash 2,400 00 
 
 27 
 
 Sundries Dr. To Comp. 1 Merchandise. 
 
 William Evans $260 00 
 
 Bills Receivable />00 00 
 
 Cash 440 00 
 
 28 
 
 18 Sundries Dr. To Comp. 1 Merchandise. 
 
 4 J Merchandise $1,248 50 
 
 2 Cash 150 
 
 30 
 
 Company 1 Merchandise Dr. To Sundries. 
 
 To Commission $ 196 25 
 
 " Store-Expenses 39 00 
 
 " Paul Harris 3,807 37 
 
 " Profit and Loss 619 88 
 
 April 1. 
 
 Store-Expenses Dr. 
 
 To Cash 
 
 2 ^ 
 
 Merchandise Dr. To Sundries. 
 
 To Lfjckhart & Arrott $2,020 00 
 
 " Cash 300 00 
 
 G 
 
 • 
 
 Sundries Dr. To Fisher's Consigii't. 
 
 S. H. Lovell $1,350 00 
 
 Oliver Otis & Co 810 00 
 
 102 
 
 4,800 00 
 
 1,200 00 
 
 1,250 00 
 
 4,662 : 50 
 
 402 , 00 
 
 2,320 00 
 
 2,160 00 
 
 2 
 
 7 
 
 15 
 17 
 
 14 
 2 
 4 
 
 5 
 15 
 
 12 
 2 
 7 
 
 16 
 4 
 
 17 
 2 
 
 11 
 15 
 
 New York, April 7, 1850. 
 
 Cash 
 
 Dr. 
 
 To Interest 
 
 8 
 
 Irvine Fisher 
 
 Dr. 
 
 To Fisher's Consignment. 
 
 ™-10 
 
 Joseph Dc Nones Dr. To Sundries. 
 
 To Cash $ 22 00 
 
 " Merchandise 40 00 
 
 11 
 
 Sundries Dr. To Sundries. 
 
 Bills Receivable $1,350 00 
 
 Irvine Fisher 1,350 00 
 
 To S. H. Lovell 1,350 00 
 
 Cash 1,322 33 
 
 *i 
 
 " Discount 
 
 27 67 
 
 13 
 
 Shipment to Boston Dr. To Sundries. 
 
 To Merchandise $2,660 00 
 
 " Fisher's Consignment 720 00 
 
 " Cash 120 00 
 
 14 
 
 Sundries ' Dr. To Oliver Otis & Co. 
 
 Irvine Fisher $310 00 
 
 Cash 500 00 
 
 1 
 
 2 
 
 17 
 
 2 
 17 
 
 17 
 9 
 8 
 
 16 
 
 15 
 
 Thomas Blanchard Dr. To Sundries. 
 
 To Cash $500 00 
 
 " Fisher's Consignment 43 20 
 
 16 ZZZZ 
 
 Cash Dr. 
 
 To Fisher's Consignment. 
 
 << 
 
 Fisher's Consignment Dr. To Sundries. 
 
 To Commission $ 117 00 
 
 " Store-Expenses 18 00 
 
 " Irvine Fisher 4,545 00 
 
 103 
 
 il 
 
 ! 
 
 $ 21 ' 00 
 
 1,440 00 
 
 62 ' 00 
 
 2,700 00 
 
 2,700 00 
 
 1 • 
 3,500 00 
 
 810 00 
 
 543 
 
 316 
 
 20 
 
 80 
 
 4,680 . OC 
 

 *i 
 
 ■fc 
 
 
 ifr"" 
 
 if ii 
 
 IS 
 
 m 
 
 10 
 
 4 
 5 
 2 
 
 i o 
 
 ]S 
 (5 
 o 
 
 •1 
 
 s 
 
 
 
 6 
 3 
 
 ;1 
 • 9 
 
 7 
 
 3 
 
 3 
 4 
 
 3 
 
 8 
 
 New York, April 18, 1850. 
 
 Sundries Dr. To Merchandise. 
 
 Bills Receivable $1,200 00 
 
 Cash 637 50 $ 1.837 
 
 8 
 
 4 
 16 
 7 
 1 i 
 
 «< 
 
 Irvine Fisher Dr. To Sundries. 
 
 To Bills Receivable $1,200 00 
 
 Cash 245 00 
 
 (( 
 
 20 
 
 Company 2 Merchandise Dr. To Sundries. 
 
 To Bills Payable $2,033 33 
 
 " Bills.'Receivable 1,300 00 
 
 21 
 
 Sundries • Dr. To Cash. 
 
 Profit and Loss .C j. ...^ $120 00 
 
 Exchange s 31 
 
 24 
 
 Sundries Pr. . To Sundries. 
 
 Bills Payable ' $2,190 00 
 
 Cash , 2,622 71 
 
 To Bills Receivable 4,444 44 
 
 " Exchange 3GS 73 
 
 " Interest 
 
 2 55 
 
 « 
 
 ' 7 Interest 
 
 To Cash 
 
 Dr. 
 
 27 
 
 Cash Dr. 
 
 To Merchandise .... 
 
 tt 
 
 Cash Dr. 
 
 To Profit and Loss. . 
 
 li 
 
 Cash Dr'. 
 
 To Profit and Loss . . 
 
 28 
 
 Merchandise Dr. To Sundries. 
 To Shipment to Port'au Prince . .$6,000 00 
 " Schooner Josephine 200 00 
 
 5C 
 
 1,445 00 
 
 3000 
 ,000 
 
 33 
 
 128 
 
 4,812 71 
 
 f 
 
 4.812 71 
 
 40 
 
 141 75 
 
 1,700 00 
 
 530 00 
 
 104 
 
 6,200 00 
 
 i 
 
 New York, April 28, 1850. 
 
 4 
 
 15 
 7 
 3 
 9 
 
 3 
 
 7 
 
 8 
 3 
 
 Merchandise ^ Dr. To Sundries. 
 
 1 o H B. Walker & Co $2,650 00 
 
 ** fcchooner Josephine 125 00 
 
 ^ash y^ QQ 
 
 "Commission 150 00 $3,000 ! 00 
 
 29 
 
 3 
 
 15 
 9 
 
 15 
 3 
 
 9 
 
 14 
 3 
 9 
 7 
 
 15 
 3 
 9 
 
 Cash Dr. 
 
 To Schooner Josephine 
 
 -30 — 
 
 Store-Expenses Dr. 
 To Cash 
 
 500 ; 00 
 
 « 
 
 Cash 
 
 Ut, ^ To Sundries 
 To Joseph Ruiz. .i^..M li 0,97 /^'n 
 
 Commissioa ^ 12*50 
 
 200 
 
 00 
 
 (( 
 
 ^r 
 
 H. B. Walker & Co. ^r. ^ To ^Sundries. 
 
 10 Cash . . . . . . .^, ^2,643 37 
 
 Commission /?. /-o 
 
 5>D00 
 
 it 
 
 6*63 
 
 2,650 
 
 00 
 
 00 
 
 — — - .Dr. 
 ToCash jji -^ 
 
 Joseph De Nones ".Dr. . To Sundfies. 
 
 T. , . i S3,402 98 
 
 " Exchange../. >....... 51 82 
 
 " Interest 14 ''52 
 
 3,469 32 
 
 «« 
 
 
 9 
 3 
 
 
 7 
 1 
 
 1 
 
 
 10 
 7 
 
 
 • 
 
 I Dr. 
 
 Joseph Ruiz , i^r. To Sundries. 
 
 u n '•"' •^- -'-^4,974 88 
 
 Commission X2 'Q2 
 
 4,987 i 50 
 
 (( 
 
 Exchange 
 
 ToCash 
 
 Dr. 
 
 M 
 
 78 
 
 Interest 
 
 T^ Tu r>i ' P^'T ' ^^ Sundries. 
 
 « n Til ^^f "Chard $494 iq 
 
 C C Marsh 297 69 
 
 75 
 
 M V 
 
 Charles Lawrence 
 To Interest, 
 
 Dr^ 
 
 14 
 
 105 
 
 791 85 
 
 07 
 
 LI 
 
 fji 
 
12 
 
 New York, April 30, 1850. 
 
 10 
 7 
 
 8 
 6 
 
 7 
 8 
 
 8 
 4 
 7 
 9 
 9 
 16 
 16 
 
 8 
 1 
 1 
 
 19 
 
 o 
 o 
 
 4 
 
 5 
 
 6 
 
 7 
 
 10 
 
 12 
 
 13 
 
 16 
 
 18 
 
 19 
 
 6 
 
 10 
 
 19 
 1 
 
 Paul Harris 
 
 To Interest. 
 
 Dr. 
 
 ti 
 
 I Profit and Loss Dr. To Sundries. 
 
 To Store-Fixtures $ 30 00 
 
 " Discount and Interest 613 27 
 
 Store-Expenses 662 76 
 
 4( 
 
 it 
 
 Sund 
 
 ries 
 
 Dr. To Profit and Loss. 
 
 Merchandise $3,562 
 
 Schooner Josephine §74 
 
 Commission 794 
 
 Exchange 
 
 152 
 
 Shipment to New Orleans 197 
 
 Shipment to Port au Prince 1,890 
 
 86 
 00 
 85 
 70 
 78 
 44 
 
 it 
 
 Profit and Loss Dr. To Sundries. 
 
 To Thomas Blanchard $4,273 24 
 
 " C. C. Marsh 4,273 24 
 
 << 
 
 Balances of April 30, 1850 Dr. To Sundries. 
 
 To Cash $26,274 07 
 
 " Merchandise 15,000 00 
 
 Bills Receivable 6,998 35 
 
 Store-Fixtures 270 00 
 
 Schooner Josephine 5,000 00 
 
 Charles Lawrence 167 07 
 
 S. H. Lovell 395 00 
 
 Walter Howard 307 62 
 
 Shipment to Boston 3,500 00 
 
 Company 2 Merchandise 3,333 33 
 
 <( 
 
 <» 
 
 it 
 
 It 
 
 it 
 
 tt 
 
 it 
 
 tt 
 
 I 
 
 a 
 
 Sundries Dr. To Balance of April 30, 1850. 
 
 Bills Payable $4,137 11 
 
 Paul Harris 4^938 20 
 
 u 
 
 s 
 
 9,125 
 
 Sundries Dr. To Balance of April 30, 1850. 
 
 Thomas Blanchard $31,144 20* 
 
 C. C. Marsh 2o',975 93 52,120 
 
 67 
 
 1,306 , 03 
 
 7,472 63 
 
 8,546 48 
 
 61,245 ' 44 
 
 31 
 
 13 
 
 106 
 
 8 
 20 
 
 20 
 
 6 
 
 10 
 7 
 
 20 
 
 21 
 
 9 
 
 20 
 16 
 
 20 
 7 
 5 
 
 21 
 6 
 
 21 
 
 11 
 
 4 
 
 3 
 
 21 
 
 9 
 
 4 
 6 
 11 
 12 
 18 
 14 
 19 
 
 New York, May 10, 1850. 
 
 13 
 
 Store-Experises Dr. To Sundries. 
 
 lo C.J. Martm $300 00 
 
 " John Sims 2OO 00 
 
 15 
 
 Sundnes Dr. To Bills Payable 
 
 Jraul Harris ^1 qqo c 
 
 Interest 
 
 •II 
 
 $1,988 20 
 30 81 
 
 16 
 
 I"" S^ M . ., ^^- To Joseph Eaton & Co. 
 
 l.rie Railroad Stock ^4,000 00 
 
 -Exchange ^0 10 
 
 (■ 
 
 18 
 Dr. 
 
 Joseph Eaton & Co. 
 
 To Shipment to Boston 4 qqq 
 
 « 
 
 Sundries Dr. To Joseph Eaton & Co. 
 
 Interest ^25 OO 
 
 Bills Receivable 554 qq 
 
 *€ 
 
 Insurance 
 
 To Bills Payable, 
 
 Dr. 
 
 23 - 
 
 Sundries Dr. To Sundries. 
 
 Shipment to San Francisco (joint) $6,806 52 
 
 Henry Austin ^§06 52 
 
 To Merchandise 2,590 00 
 
 S^^^ 10,625 00 
 
 Exchange io5 00 
 
 Insurance 293 04 
 
 30 
 
 tt 
 
 tt 
 
 It 
 
 Merchandise Dr. To Sundries 
 To Bills Payable $1,720 00 
 
 300 00 
 212 00 
 375 00 
 420 00 
 550 00 
 
 Henry Austin I6th, 
 
 " James Truman lOth 
 
 *' E.G. Fail & Co isth] 
 
 " William Evans 30th,' 
 
 " Barclay & Livingston ...22d,' 
 
 3,577 
 
 $ 500 00 
 
 2,019 iOl 
 
 4,020 '10 
 
 00 
 
 579 90 
 
 401 25 
 
 13,613 04 
 
 13,613 04 
 
 00 
 
 107 
 
 n- 
 
u 
 
 New York, May 30, 1850. 
 
 4 
 5 
 12 
 10 
 11 
 11 
 19 
 
 3 
 
 4 
 
 5 
 
 7 
 
 11 
 
 11 
 
 10 
 
 12 
 
 3 
 4 
 6 
 7 
 S 
 1 
 10 
 
 1 
 
 14 
 
 20 
 20 
 
 7 
 10 
 
 InifTJ"' • ^.l ^^'- To Merchandise. 
 Bills Receivable g^^g^g oo 
 
 500 00 
 30th, 555 00 
 562 50 
 337 50 
 175 00 
 
 S. H. Lovell ' * 17^'}^* 
 
 Paul Harris oofU * 
 
 Oliver Otis &co....;:;::;;:;;;;;*^olh 
 
 Henry Austin ! ". *. .22(1 ' 
 
 Barclay & Livingston 29th 
 
 << 
 
 _( 
 
 Cash 
 
 •p^ AT T- T ■'^^* To Sundries. 
 
 \? ^^r^^"^^^^ S1.266 00 
 
 -tJills Keceivable 1,207 35 
 
 Discount and Interest ' ' 10 50 
 
 Oliver Otis & Co 36th, 350 00 
 
 Henry Austin 2Sth, 150 00 
 
 Charles Lawrence 28th, 167 07 
 
 b. H. Lovell 30th, 3OO 00 
 
 (( 
 
 (( 
 
 (< 
 
 <( 
 
 ti 
 
 Sundries Tiy t* >-, , 
 
 Merchandise _ l"" nn\ 
 
 Bills Payable y,/,: 500 00 
 
 Discount and Interest 12 7'' 
 
 Store-Expenses 75 95 
 
 Thomas Blanchard ::;:;: 30th, 198 23 
 
 Paul Harris .q.' ^ ^^^^ ^^ 
 
 C. C. Marsh i^ ! inn nn 
 
 iTT-iT -r. oOth, 300 00 
 
 W>lham Evans ig,,,, 
 
 C J Martm jg^^ 
 
 •^°''"^™^ • 16th, 100 00 
 
 (( 
 
 Interest 
 
 To Paul Harris 
 
 Dr. 
 
 108 
 
 w 
 
 3,508 I 00 
 
 3,450 
 
 92 
 
 5,147 
 
 13 
 
 43 
 
 34 
 
r* * 
 
 III 
 
 'I 
 
 / 
 
 v^ 
 
 NOTE. 
 
 This is the Book of Accounts ; the book that shows the results of all our 
 mercantile transactions, condensed and brought together under their different 
 heads. On one folio we raay see what our merchandise cost and what it sold 
 for ; on another, the amount of our notes issued and redeemed ; on another, 
 the amounts a person owes us and those we owe him. Thus we raay turn 
 over its pages and see at one view the amounts that all persons, properties, or 
 objects, and branches of our business, owe to us or have cost us, and all that 
 we owe to them or that they have produced us. 
 
 The balance sheet (designed to show the state of our affairs), exhibiting our 
 assets and liabilities, our gains and losses, and our net capital, is made out 
 from this book. 
 
 The trial balance (a paper made to prove the postings, additions, and subtrac- 
 tions in this book), is made out from this book, monthly or quarterly. 
 
 The entries in this book are brought froih the journal, daily, weekly, or 
 monthly, as occasions require 
 
 Accounts-current are made from this book with reference from the accounts 
 (by dates) direct to the day-book for explanations. 
 
 I 
 
 Index. 
 
 A. 
 
 Austin, Henry 11 
 
 B 
 
 Bills Receivable 5 
 
 Blanchard, Thomas 1 
 
 Bills Payable 6 
 
 Blakeley, William 13 
 
 Balance of April 30, 1850 19 
 
 Barclay & Livingston 19 
 
 Cash 3, 2 
 
 Commission 9 
 
 Company 1 Merchandise 18 
 
 Company 2 Merchandise 18 
 
 I) 
 
 Discount and Interest 7 
 
 De Nones' Consignment 17 
 
 De Nones, Joseph 14 
 
 111 
 
 Evans, William 14 
 
 Exchange 9 
 
 Erie Railroad Stock 21 
 
 Eaton & Co., Joseph 20 
 
 Fisher's Consignment 17 ' 
 
 Fisher, Irvine 15 > 
 
 Fail & Co., E. G 18 
 
 G. 
 
 H 
 
 Harris, Paul 10 
 
 Howard, Walter 13 
 
Index. 
 
 Index. 
 
 ' ii 
 
 ! 
 
 I. J. 
 
 1 Interest 7 
 
 * 
 
 Insurance 21 
 
 K. 
 
 O. 
 
 Otis & Co., Oliver 11 
 
 Lawrence, Charles lOi 
 
 Lovell, S. H 12 
 
 Lockhart & Arrott 14 
 
 P. 
 
 Profit and Loss ......•..••••• 8 
 
 
 M, 
 
 Merchandise 4 
 
 Marsh, C.C 1 
 
 ; Martin, C.J 20 
 
 q,. 
 
 1 
 
 112 
 
 K. 
 
 Ruiz, Joseph 
 
 15 
 
 S. 
 
 Store-Fixtures 6 
 
 Store-Expenses 8 
 
 Shipment to New Orleans 16 
 
 Schooner Josephine 7 
 
 Shipment to Port au Prince 16 
 
 Shipment to Boston 16 
 
 Sims, John 20 
 
 Shipment to San Francisco 21 
 
 T. 
 
 Truman, James 12 
 
 Walker & Co., H. B. 
 
 15 
 
 Y. 
 
 IT. 
 
 Z. 
 
 15 
 
 III 
 
,1" 
 ■,'4 
 
 I 
 
 Dr. 
 
 Thomas 
 
 18S0. 
 
 Jan. 
 
 April 
 (I 
 
 1650. 
 
 May 
 
 5 
 15 
 
 30 
 
 To Bills Payable ' i 
 
 " Sundries 9 
 
 j 
 
 " Balance 13 
 
 $ 1,080 00 
 
 30 i To Cash 
 
 Dr. 
 
 1850. 
 
 Jan. 5 To Bills Payable | 1 $1,230 00 
 
 March 25 " Cash 7 300 , 00 
 
 April 
 
 uaiiuc 
 
 18MK 
 
 May 30 To Cash 
 
 543 
 
 1,114 
 
 32,767 
 
 20 
 
 20 
 
 40 
 
 15 .' $ 198 23 
 
 I 
 
 Christopher 
 
 ?0.975 
 
 93 
 
 22,505 93 
 
 15 $ 300 00 
 
 ill 
 
 Blanchard. 
 
 Cb. 
 
 18&0. 
 
 Jan. I 5 By Sundries 1 
 
 April I 30 " Interest I 12 
 
 30 " Profit and Loss I 12 
 
 1850. 
 
 April 30 
 
 By Balance, 
 
 $28,000 00 
 
 494 16 
 
 4,273 24 
 
 32,767 40 
 
 C. Marsh. 
 
 Cr. 
 
 1850. 
 
 Jan. 5 By Sundries, 
 
 April 30 
 
 «< 
 
 30 
 
 1850. 
 
 " Interest 12 
 
 " Profit and Loss 12 
 
 April 30 : By Balance. 
 
 115 
 
 31,144 20 
 
 1 $17,935 ; 00 
 
 297 69 
 
 4,273 24 
 
 22,505 , 93 
 
 20,975 93 
 
2 
 
 ! 
 
 I i 
 
 ! 
 
 1850. 
 
 Jan. 
 
 5 
 
 it 
 
 12 
 
 u 
 
 19 
 
 u 
 
 20 
 
 tt 
 
 22 
 
 u 
 
 24 
 
 Feb. 
 
 9 
 
 tt 
 
 23 
 
 it 
 
 24 
 
 March 
 
 3 
 
 tt 
 
 4 
 
 tt 
 
 5 
 
 tt 
 
 9 
 
 tt 
 
 10 
 
 tt 
 
 12 
 
 «« 
 
 16 
 
 tt 
 
 18 
 
 tt 
 
 23 
 
 tt 
 
 27 
 
 tt 
 
 28 
 
 April 
 
 7 
 
 tt 
 
 14 
 
 tt 
 
 16 
 
 u 
 
 18 
 
 Dr. 
 
 To Sundries 
 
 " Merchandise 
 
 " Oliver Otis & Co 
 
 " Merchandise » 
 
 " James Truman 
 
 " Merchandise 
 
 " William Blakeley 
 
 " Merchandise 
 
 " Bills Receivable 
 
 " De Nones' Consignment 
 
 " De Nones' Consignment. . . 
 
 ** Bills Receivable 
 
 " S. H. Lovell 
 
 " De Nones' Consignment — 
 
 " Sundries 
 
 " Bills Receivable 
 
 " Paul Harris 
 
 " Sundries 
 
 " Company 1 Merchandise . - 
 " Company 1 Merchandise . . 
 
 " Interest 
 
 " Oliver Otis & Co 
 
 " Fisher's Consignment 
 
 " Merchandise 
 
 Cash. 
 
 Cr. 
 
 Carried forward. . 
 
 116 
 
 
 1 
 
 1 
 
 ) 
 
 2 
 2 
 
 2 : 
 
 2 
 3 
 
 4 ! 
 
 6 
 6 
 
 6 1 
 6 
 
 6| 
 
 7J 
 
 7 
 
 7 
 
 7 
 
 8 
 
 8 
 
 8 
 
 9 
 
 9 
 
 1 
 
 $38,000 
 
 00 
 
 
 125 
 
 00 
 
 
 1 1,000 i 00 
 
 
 1 ' 
 
 250 00 
 
 
 1,000 
 
 160 
 
 j 100 
 
 I 120 
 
 1,969 
 
 456 
 
 300 
 
 2,070 
 
 250 
 
 1,233 
 
 ' 850 
 
 251 
 
 2,000 
 
 ! 909 
 
 440 
 
 j 1 
 
 00 
 
 
 00 
 
 40A'» 00 
 
 00 
 
 
 00 
 
 
 00 
 
 43,7-24 00 
 
 00 
 
 
 00 
 
 
 00 
 
 • 
 
 00 
 
 
 27 
 
 
 00 
 
 
 37 
 
 
 00 
 
 
 10 
 
 
 00 
 
 
 50 
 
 52,086 34 
 
 21^ 00 
 
 
 500 00 
 
 
 316 SO 
 
 
 1 } 
 
 637 . 50 
 
 •d 
 
 53,560 
 
 1 
 
 i 
 
 54 
 
 1 
 
 1850. 
 
 Jan. 
 tt 
 II 
 tt 
 tt 
 tt 
 
 Feb. 
 tt 
 
 <( 
 
 tt 
 
 It 
 
 tt 
 
 tt 
 
 tt 
 
 tt 
 
 it 
 
 March 
 (( 
 
 « 
 tt 
 
 it 
 << 
 
 April 
 tt 
 
 tt 
 
 tt 
 
 tt 
 
 i< 
 
 tt 
 
 7 
 14 
 16 
 17 
 28 
 30 
 2 
 2 
 4 
 12 
 13 
 20 
 
 25 
 
 26 
 
 28 
 
 28 
 2 
 3 
 7 
 9 
 
 20 
 
 25 
 
 26 
 2 
 2 
 
 10 
 
 11 
 
 13 
 
 15 
 
 18 
 
 By Store-Fixtures . 
 " Merchandise . . , 
 " Merchandise . . . 
 " James Truman . 
 " Bills Receivable 
 " Bills Payable . . . 
 
 9 
 
 1 
 
 1 
 o 
 
 2 
 2 
 3 
 
 « -PMI -n 11 7,330 00 i 
 
 i)ills Payable i 3 
 
 3 
 3 
 .3 
 3 
 
 11,603 47 
 
 { 
 
 '* Store-Expenses 
 
 *' Shipment to New Orleans 
 
 " Merchandise 
 
 " Merchandise 
 
 " Walter Howard j 4 
 
 " Schooner Josephine 5 
 
 " Scb>oner Josephine 5 
 
 " Shipment to Port au Prince ! 5 
 
 " Schooner Josephine I 5 
 
 " Store-Expenses 
 
 " De Nones* Consignment, 
 " De Nones' Consiirnment. 
 
 " Bills Payable 
 
 ** Sundries 
 
 " C.C. Marsh 
 
 " Sundries 
 
 " Store-Expenses 
 
 " Merchandise 
 
 " Joseph De Nones 
 
 " Sundries '. 
 
 " Shipment ^o Boston 
 
 " Thomas Blanchard 
 
 " Irvine Fisher 
 
 23,297 91 
 
 Carried forward 
 
 i.7 
 
 5 
 
 6 
 
 6 
 
 6 
 
 7 
 
 7 
 
 8 
 
 8 
 
 8 
 
 9 
 
 9 
 
 9 
 
 9 
 
 10 
 
 $ 300 
 800 
 2,000 
 1,000 
 2,000 
 1,230 
 525 
 65 
 100 
 100 
 422 
 160 
 2,600 
 155 
 120 
 26 
 45 
 460 
 45 
 4,444 
 4,000 
 300 
 2,400 
 462 
 300 
 22 
 1,322 
 120 
 500 
 245 
 
 00 
 00 
 00 
 00 
 00 
 00 
 32 
 00 
 00 
 00 
 00 
 > 15 
 00 
 00 
 
 oc 
 
 00 
 
 00 
 
 00 • 
 
 00 
 
 44 
 
 00 
 
 00 
 
 00 
 
 00 
 
 00 
 
 00 
 
 33 
 
 00 
 
 00 
 
 00 
 
 
 26,269 24 
 
 It 
 
 iin 
 
Dr. 
 
 Cash. 
 
 1850. 
 
 April 
 
 1S50. 
 
 24 
 27 
 27 
 27 
 29 
 30 
 
 Brought forward 
 
 To Sundries 
 
 " Merchandise 
 
 " Profit and Loss 
 
 " Profit and Loss 
 
 " Schooner Josephine 
 
 " Sundries 
 
 April 30 I To Balance 
 May 30 " Sundries 
 
 lis 
 
 3,450 . 92 
 
 Cr. 
 
 i850. 
 
 April 
 
 <• 
 
 u 
 
 M 
 
 ti 
 
 it 
 
 tt 
 
 « 
 
 tf 
 
 1850. 
 
 May 
 
 21 
 24 
 28 
 30 
 30 
 30 
 30 
 
 30 
 
 30 
 
 23 
 30 
 
 37,780 93 
 
 By Sundries 
 
 " Sundries 
 
 •••••••• 
 
 :i9 
 
 Brought forward, 
 
 By Sundries lo 
 
 " Interest i iq 
 
 " Merchandise 
 
 "* Store-Expenses 
 
 *' H. B. Walker & Co 
 
 " Joseph De Nones 
 
 " J. Ruiz 
 
 " Exchange 
 
 *' Balance 
 
 11 
 11 
 11 
 U 
 11 
 11 
 12 
 
 
 13 $10,625 
 
 14 5,147 
 
 826,269 
 
 24 
 
 128 
 
 31 
 
 8 
 
 40 
 
 75 
 
 00 
 
 200 
 
 00 
 
 2,643 
 
 37 
 
 3,402 
 
 98 
 
 4,974 
 
 88 
 
 78 
 
 75 
 
 26,274 
 
 07 
 
 64,055 00 
 
 00 
 43 
 
 si?-. 
 
il'ij 
 
 IW' 
 
 i 
 
 i I 
 
 'ii 
 
 t" i 
 
 I i4 
 
 I 
 
 Dr. 
 
 Merchandise. 
 
 1850. 
 
 Jan. 
 
 
 Feb. 
 
 (< 
 
 <( 
 
 « 
 
 March 
 
 ft 
 
 April 
 
 M 
 «l 
 
 1850. 
 
 April 
 May 
 
 it 
 
 5 
 
 14 
 14 
 
 16 
 16 
 
 12 ; 
 
 13 j 
 20 
 21 
 10 
 28 
 
 2 
 28 
 28 
 30 
 
 30 
 30 
 30 
 
 To 
 
 (I 
 
 i( 
 
 (I 
 
 <( 
 
 (( 
 
 tt 
 
 it 
 
 It 
 tt 
 tt 
 tt 
 tt 
 tt 
 
 Sundries 
 
 Henry Austin 
 
 Cash 
 
 Bills Payable 
 
 Sundries 
 
 10,726 00 
 
 Sundries 
 
 Sundries 
 
 William Evans 
 
 Merchandise 
 
 si^sM n 
 De Nones* Consignment 
 
 Company 1 Merchandise 
 
 S4,fi36 01 
 
 Sundries 
 
 Sundries 
 
 Sundries 
 
 36,056 01 
 
 Profit and Loss 
 
 Dollars 
 
 To Balance 
 " Sundries 
 " Cash 
 
 120 
 
 1 
 
 $3,125 
 
 1 
 
 1,500 \ 
 
 1 
 
 800 ; 
 
 1 
 
 2,100 1 
 
 2 
 
 3,200 
 
 3 
 
 1,240 
 
 3 
 
 6,533 ' 
 
 4 
 
 1,260 1 
 
 4 
 
 1,530 ' 
 
 6 
 
 2,000 
 
 7 
 
 1,248 
 
 8 
 
 2,320 
 
 11 
 
 6,200 I 
 
 11 
 
 3,000 , 
 
 
 3,562 
 
 V 
 
 * 
 
 39,619 
 
 $15,000 
 
 13 
 
 3,577 : 
 
 14 
 
 610 
 
 
 
 00 
 00 
 00 
 00 
 00 
 00 
 
 11 
 
 00 
 00 
 00 
 50 
 00 
 00 
 00 
 86 
 
 47 
 
 50 
 
 itso. 
 
 Jan. 
 
 it 
 « 
 M 
 M 
 «l 
 M 
 «« 
 
 Feb. 
 <i 
 
 u 
 
 M 
 « 
 If 
 M 
 M 
 « 
 
 March 
 « 
 
 «i 
 
 April 
 «« 
 
 M 
 l< 
 
 (I 
 
 1850. 
 
 May 
 
 (( 
 
 « 
 
 8 
 
 10 
 
 12 
 
 13 
 
 16 
 
 20 
 
 24 
 
 26 
 
 2 
 
 4 
 
 6 
 
 17 
 
 20 
 
 21 
 
 23 
 
 24 
 
 27 
 
 2 
 
 9 
 
 12 
 
 10 
 
 13 
 
 18 
 
 27 
 
 30 
 
 23 
 
 30 
 30 
 
 16 
 
 By Paul Harris 
 
 Bills Receivable 
 
 Cash , 
 
 Oliver Otis & Co 
 
 Merchandise 
 
 Cash 
 
 Sundries , 
 
 Sundries 
 
 Bills Payable 
 
 Shipment to New Orleans . 
 
 Bills Receivable , 
 
 Bills Payable 
 
 Walter Howard , 
 
 Merchandise , 
 
 Sundries 
 
 Bills Receivable 
 
 Shipment to Port au Prince , 
 
 Sundries , 
 
 S. H. Lovell , 
 
 Cash , 
 
 Joseph De Nones 
 
 Shipment to Boston 
 
 Sundries 
 
 Cash 
 
 Balance 
 
 6,310 00 
 
 18,383 23 
 
 19,940 23 
 
 34,619 47 
 
 By Sundries , 
 " Sundries 
 " Cash . . . 
 
 121 
 
 Cr. 
 
 1 
 1 
 1 
 1 
 2 
 2 
 2 
 2 
 3 
 3 
 3 
 4 
 4 
 4 
 4 
 4 
 5 
 5 
 6 
 7 
 9 
 9 
 10 
 10 
 
 12 
 
 13 
 14 
 14 
 
 325 
 
 500 
 
 125 
 
 2,000 
 
 1,200 
 
 250 
 
 410 
 
 400 
 
 550 
 
 1,722 
 
 320 
 
 1,620 
 
 2,000 
 
 1,200 
 
 788 
 
 245 
 
 525 
 
 40 
 
 2,660 
 
 1,837 
 
 141 
 
 15,000 
 
 39,619 
 
 00 
 
 00 
 00 
 00 
 00 
 00 
 00 
 00 
 00 
 22 
 00 
 
 1,500 j 00 
 2,730 loo 
 1,530 00 
 
 I 00 
 00 
 I 00 
 i 00 
 00 
 00 
 00 
 00 
 50 
 75 
 
 00 
 
 I7 
 
 $ 2,590 00 
 
 i 
 
 3,508 00 
 1,266 ! 00 
 
 'ii ii 
 
* 
 
 
 Dr. 
 
 Bills 
 
 1850. 
 
 Jan. 
 
 (I 
 It 
 « 
 
 PeK 
 
 <( 
 
 « 
 
 <« 
 
 it 
 March 
 
 
 April 
 
 41 
 
 1850. 
 
 April 
 May 
 
 M 
 
 5 
 10 
 19 
 21 
 28 
 
 6 
 13 
 21 
 23 
 24 
 
 5 
 26 
 27 
 11 
 18 
 
 To Sundries 
 
 " Merchandise 
 
 *' Oliver Otis & Co 
 
 " Paul Harris 
 
 ** Sundries 
 
 " Merchandise 
 
 " Sundries 
 
 " Bills Payable 
 
 " Merchandise 
 
 " Merchandise 
 
 " Sundries 
 
 " Sundries 
 
 " Company 1 Merchandise 
 
 " Sundries 
 
 " Merchandise 
 
 8^18 00 
 
 19,487 37 
 
 18,139 16 
 
 1 
 1 
 
 2 
 
 I 
 2! 
 
 2 
 
 3| 
 41 
 4} 
 
 ^\ 
 4 
 
 6| 
 
 8 
 
 8! 
 
 5 
 10 
 
 90,889 16 
 
 30 To Balance 
 
 18 " J.Eaton & Co. 
 30 " Merchandise 
 
 13 
 14 
 
 $ 4,670 
 500 
 
 1,000 
 325 
 
 2,121 
 320 
 251 
 800 
 500 
 
 2,000 
 707 
 
 4,444 
 500 
 
 1,350 
 
 1,200 
 
 00 
 00 
 00 
 00 
 00 
 00 
 37 
 00 
 00 
 00 
 35 
 44 
 00 
 00 
 00 
 
 20,689 16 
 
 6,998 
 
 35 
 
 554 
 
 90 
 
 1,378 
 
 00 
 
 Receivable. 
 
 Cr. 
 
 1S«}. 
 
 Feb. 
 
 « I 24 
 Marclij 5: 
 121 
 16 
 18, 
 20 
 23 
 30 
 
 *t 
 
 April 
 
 <i 
 
 M 
 
 12 By Merchandise 
 
 12 " William Blakeley 
 
 " Sundries 
 
 " Cash 
 
 " Cash 
 
 " Cash 
 
 " Irvine Fisher 
 
 " Company 2 Merchandise 
 
 " Sundries 
 
 " Balance 
 
 3,600 00 
 
 6,7«37| 
 
 13.600 81 
 
 3 
 7; 
 
 lol 
 id 
 
 IQ 
 
 i 
 
 12 
 
 ^ 1,000 
 
 500 
 
 2,000 
 
 2,670 
 
 325 
 
 251 
 
 1,200 
 
 1,300 
 
 4,444 
 
 30 By Cash 
 
 ISS 
 
 119 
 
 00 
 00 
 00 
 00 
 00 
 37 
 00 
 00 
 44 
 
 6,99S 35 
 
 14 $1,207 35 
 
!i 
 
 i| 
 
 
 1850. 
 
 Jan. 
 
 Feb. 
 tt 
 
 March 
 « 
 
 April 
 
 1850. 
 
 Tan. 
 
 18S0. 
 
 30 
 2 
 17 
 9 
 23 
 24 
 30 
 
 Dr. 
 
 To Cash 
 
 " Sundries.... 
 " Merchandise, 
 
 " Cash 
 
 " Sundries . 
 
 Bills 
 
 3^10 00 
 
 3 
 3 
 4 
 6 
 
 ! 7 
 
 10,364 44 , 
 
 " Sundries j 10 
 
 I>,M4 44 
 
 '^ E:il.:..;> 
 
 |! 
 
 1850. { 
 
 May 30 ! To Cash 
 
 Dr. 
 
 To Cash 
 
 April > 30 To Balance 
 
 m 
 
 1,230 
 1,080 
 1,500 
 4,444 
 2,100 
 2,190 
 4,137 
 
 Store 
 
 00 
 00 
 00 
 44 
 00 
 00 
 
 11 
 
 6,681 55 
 
 14 $ 500 00 
 
 I 
 300 i 00 
 
 300 
 
 $ 270 
 
 00 
 
 00 
 
 Payable. 
 
 Cr. 
 
 6 
 
 1850. 
 
 Jan. 
 
 « 
 
 Feb. 
 
 tt 
 
 u 
 
 tt 
 
 M 
 
 April 
 
 5 
 16 
 22 
 13 
 16 
 21 
 27 
 28 
 20 
 
 1850. 
 
 April ; 30 
 May 16 
 
 By Sundries 
 
 " Merchandise 
 
 " Henry Austin 
 
 " Merchandise 
 
 " Walter Howard 
 
 " Bills Receivable , 
 
 " Shipment to Port au Prince. 
 " Shipment to Port au Prince . 
 " Company 2 Merchandise . . . 
 
 6,910 X) 
 
 1 
 1 
 
 2 
 3 
 4 
 4 
 5 
 5 
 
 14,648 23 j 
 16,681 56 
 
 tt 
 tt 
 
 By Balance 
 
 " Sundries i 13 
 
 " Insurance ] 13 
 
 $2,310 
 2,100 
 1,500 
 1,222 
 4,444 
 800 
 2,190 
 81 
 2,033 
 
 00 
 00 
 00 
 22 
 44 
 00 
 00 
 56 
 33 
 
 16,681 55 
 
 " Merchandise. 
 
 13 
 
 $4,137 11 
 
 2,019 01 
 
 401 I 25 
 
 1,720 00 
 
 Fixtures. 
 
 Cr. 
 
 1880. 
 
 April 
 tt 
 
 30 , By Profit and Loss 
 
 ** Balance 
 
 125 
 
-I 1 
 
 I 
 
 1850. 
 
 Feb. 
 
 M 
 
 « 
 
 April 
 
 Dr. 
 
 Discount and 
 
 Dr. 
 
 Schooner 
 
 25 ! To Sundries, 
 
 26 " Cash.... 
 28 " Cash.... 
 
 " Profit and Loss, 
 
 6,181 00 
 
 Dollars 
 
 1«M. 
 
 April 30 To Balance 
 
 1 I 
 
 126 
 
 5 $5,000 00 ■ 
 5 
 5 
 12 
 
 155 
 
 00 
 
 26 
 
 00 
 
 874 
 
 00 
 
 6,055 
 
 00 
 
 $ 5,000 00 
 
 |i 
 
 ll 
 
 Interest. 
 
 Cr. 
 
 1850. 
 
 Jan. 
 Feb. 
 
 March 
 « 
 
 April 
 If 
 
 it 
 
 It 
 
 It 
 II 
 
 28 i By Bills Receivable 
 
 1850. 
 
 2 
 13 
 
 5 
 23 
 
 7 
 11 
 24 
 30 
 30 
 30 
 30 
 
 127 06 
 
 143 60 
 
 2 
 3 
 
 4 
 6 
 
 7 
 8 
 
 « Bills Payable 
 
 " Sundries 
 
 ' " Bills Receivable 
 
 " Sundries 
 
 " Cash , 
 
 " Sundries j'g 
 
 " Sundries \iq 
 
 " Joseph De Nones ill 
 
 ** Charles Lawrence Il2 
 
 " Paul Harris 12 
 
 817 98 
 
 " Profit and Loss ,12 
 
 Dollars 
 
 May 
 
 30 By Cash 
 
 14 
 
 Josephine. 
 
 Cr. 
 
 , 27 By Shipment to Port au Prince 
 
 28 ; " Merchandise 
 
 " Merchandise 
 
 " Cash 
 
 Ifi66 00 
 
 " Balance 
 
 121 
 4 
 1 
 7 
 9 
 
 2 
 
 14 
 
 2 
 
 6 
 613 
 
 127 
 
 100 
 
 j 
 
 168 
 
 |37 
 
 35 
 
 10 
 
 21 00 
 
 27 67 
 
 55 
 
 52 
 j07 
 67 
 27 
 
 I 
 
 831 25 
 
 10 50 
 
f 'I if 
 
 111 
 
 III 
 
 8 
 
 Dr. 
 
 1850. 
 
 Feb. 
 
 i< 
 
 April 
 
 it 
 
 it 
 
 Dr. 
 
 9 
 13 
 21 
 30 
 30 
 
 I 
 
 128 
 
 Store 
 
 Profit 
 
 To William Blakeley 
 
 " Sundries 
 
 " Cash 
 
 '* Sundries 
 
 *• Sundries 
 
 3 
 
 10} 
 
 12 
 
 12 
 
 t 100! 00 
 
 250 I 00 
 
 120 j 00 
 
 1,306 } 03 
 
 8,546 48 
 
 10,322 51 
 
 Expenses. 
 
 Cr. 
 
 8 
 
 I860. 
 
 March 
 
 it 
 
 April 
 
 1850. 
 
 March 30 
 27 
 
 April 
 
 M 
 M 
 
 27 
 30 
 
 17 
 
 14 j By De Nones' Consignment 
 
 30 j " Company 1 Merchandise 
 
 16 " Fisher's Consignment 
 
 30 " Profit and Loss 
 
 8 52 24 
 39 j 00 
 
 AND Loss. 
 
 Cr. 
 
 By Company 1 Merchandise 8 
 
 " Cash 10 
 
 " Cash ■ xo 
 
 " Sundries 
 
 619 88 
 1,700 ; 00 
 
 530 
 
 7,472 
 
 00 
 63 
 
 10,322 151 
 
 129 
 
 I 
 
 I 
 
 •^ :.1 
 
Dr. 
 
 1650. 
 
 •( 
 
 « 
 
 1850. 
 
 May 
 
 Dr. 
 
 March 26 To Sundries. 
 
 April 21 " Cash 
 
 30 " Cash . . . 
 
 30 " Profit and Loss 
 
 16 To J. Eaton & Co. 
 
 Commission. 
 
 1850. 
 
 April 
 
 30 
 
 !To Profit and Loss 
 
 12 
 
 1 
 
 % 794 
 
 1 
 
 85 
 
 
 I 
 
 
 • y' 
 
 
 
 794 
 
 85 
 
 
 
 
 
 Exchange. 
 
 II 
 
 8 $ 355 56 
 
 10 
 11 
 12 
 
 8 
 
 78 
 
 13 
 
 130 
 
 31 
 75 
 
 152 70 
 
 595 32 
 
 I 20 10 
 
 1850. 
 
 Feb. 
 
 March 
 « 
 
 April 
 
 u 
 it 
 tt 
 u 
 
 1850. 
 
 Feb. 
 April 
 
 20 
 14 
 30 
 16 
 38 
 30 
 30 
 30 
 
 Cr. 
 
 t 
 
 y Walter Howard 
 
 " De Nones* Consignment 
 
 ** Company 1 Merchandise 
 
 ** Fisher's Consignment 
 
 " Merchandise 
 
 " Cash ill 
 
 « H. B. Walker & Co Ill 
 
 " Joseph Ruiz Ill 
 
 V 
 
 4 
 7 
 8 
 9 
 1 
 
 84 
 215 
 196 
 117 
 150 
 
 12 
 6 
 
 12 
 
 |14 
 71 
 25 
 00 
 00 
 50 
 63 
 62 
 
 794 85 
 
 Or. 
 
 25 By Schooner Josephine i i 5 
 
 24 " Sundries ilO 
 
 ** Joseph De Nones 11 
 
 f 177 
 
 I 365 
 51 
 
 78 
 72 
 82 
 
 595 32 
 
 May 23 py Sundries 13 
 
 L 
 
 131 
 
 105 00 
 
I 
 
 10 
 
 Dr. 
 
 Dr. 
 
 Jan. 8 
 
 March 20 
 April : 30 
 
 30 
 
 (I 
 
 May 
 
 15 To Bills Payable 
 
 Charles 
 
 1850. 
 
 Jan. 
 
 t 
 
 5 
 
 2 
 
 4 
 
 30 
 
 30 
 
 To Sundries 
 
 1 
 
 5 
 
 6 
 
 12 
 
 1 
 
 $ 140 
 
 288 
 
 175 
 
 2 
 
 00 
 00 
 00 
 07 
 
 Marcli 
 
 " Merchandise 
 
 April 
 
 " De Nones* Consignment 
 
 " Interest 
 
 
 
 
 605 
 
 07 
 
 I860. 
 
 April 
 
 To Balance 
 
 t 167 
 
 07 
 
 
 • 
 
 Paul 
 
 To Merchandise 
 
 " Cash 
 
 ** Interest .... 
 
 " Balance .... 
 
 •••*•*.••. 
 
 « 
 
 M 
 
 30 
 30 
 
 " Merchandise 
 
 ** riflAh 
 
 li I 
 
 1 $ 325 00 
 
 7 
 12 
 
 12 
 
 132 
 
 14 
 14 
 
 2,000 00 
 6 67 
 
 4,988 20 
 
 7,319 87 
 
 $ 1,988 20 
 
 555 00 
 
 3,000 ! 00 
 
 Lawrence. 
 
 1850. 
 
 Feb. 
 
 « 
 
 March 
 
 April 
 
 1850. 
 
 12 By Merchandise 
 
 27 " Shipment to Port au Prince , 
 7 *' De Nones* Consignment.... 
 
 30 
 
 " Balance 
 
 May 28 By Cash 
 
 Harris. 
 
 1850. 
 
 Jan. 
 
 March 
 (I 
 
 it 
 
 21 I By Bills Receivable 
 18 " Cash 
 
 21 
 30 
 
 1850. 
 
 April 
 May 
 
 " Company 1 Merchandise 
 " Company 1 Merchandise 
 
 30 j By Balance 
 
 30 
 
 ** Interest, 
 
 133 
 
 Cr. 
 
 10 
 
 3 
 
 5 
 
 6 
 
 12 
 
 140 
 
 288 
 
 10 
 
 167 
 
 00 
 00 
 00 
 
 07 
 
 605 07 
 
 14 
 
 $ 167 07 
 
 Cr. 
 
 14 
 
 $ 325 00 
 
 2,000 00 
 
 1,187 50 
 
 3,807 1 37 
 
 7,319 87 
 
 8 4,988 20 
 13 34 
 
 I 
 
 1 
 
 ; tt'i 
 
;^; 
 
 w 
 
 ■4' 
 
 
 i 
 
 «>h| 
 
 11 
 
 Dr. 
 
 Oljver 
 
 1850. 
 
 
 Jan. 
 
 13 
 
 K 
 
 26 
 
 March 
 
 2 
 
 April 
 
 6 
 
 1 
 
 1850. 
 
 
 May 
 
 20 
 
 1850. 
 
 1850. 
 
 May 
 
 To Merchandise 
 
 " Merchandise 
 
 " Merchandise 
 
 " Fisher*8 Consignment 
 
 To Merchandise 
 
 Dr. 
 
 Jan. 22 To Bills Payable. 
 
 23 To Sundries 
 
 22 ** Merchandise 
 
 184 
 
 Henry 
 
 $ 6,806 52 
 33t 50 
 
 Otis & Co. 
 
 Cr. 
 
 11 
 
 1850. I ! 
 
 Jan. 19 By Sundries 
 
 March 5 " Bills Receivable 
 
 April 14 « Sundries 
 
 185C* 
 
 May 30 By Cash 
 
 2 
 9j 
 
 2,000 00 
 700 00 
 810 00 
 
 3,510 00 
 
 I' 
 
 14 S 350 00 
 
 Austin. 
 
 Cr. 
 
 ISSO. 
 
 Jan. 14 i By Merchandise 
 
 1850. 
 
 1 $ 1,500 00 
 
 May 16 By Merchandise ! 13 ^ g^Q ^^ 
 
 2^ "C^«^ I 14 150 00 
 
 1 
 
 135 
 
Kt 
 
 IH 
 
 ! rl 
 
 12 
 
 Dr. 
 
 James 
 
 1850. 
 
 Jan. 
 Feb. 
 
 17 
 23 
 
 « 
 
 To Cash 
 
 ** Merchandise 
 
 • • •--• •••••■••••• 
 
 2 $1,000 00 
 4 , 1,000 , 00 
 
 136 
 
 2»000 00 
 
 S. H. 
 
 t 395 00 
 
 Truman. 
 
 Cr, 
 
 12 
 
 1850. 
 
 I 
 
 Jan. j22 By Cash jg ^ i,000 00 
 
 Feb. 26 " William Evans , 5 1,000 00 
 
 1850. 
 
 May 10 By Merchandise 
 
 14 
 
 2,000 00 
 
 f 212 00 
 
 LOVELL. 
 
 Cr. 
 
 ISM. 
 
 ! 
 
 March 9 By Cash- g k 850 'oo 
 
 April n .. Sundries 9 • 1,350 00 
 
 1850. 
 
 30 
 
 Balance 
 
 12 
 
 395 
 
 00 
 1,995 ,00 
 
 May 30 ByCash 14 
 
 $ 300 00 
 
 18 
 
 137 
 
ts 
 
 Dr. 
 
 '^1 
 
 1650. 
 
 
 Jan. 
 
 26 
 
 Peo. 
 
 12 
 
 
 1 
 
 To Merchandise . . . 
 " Bills Receivable 
 
 Dr. 
 
 1850. 
 
 Feb, 16 To Bills Payable *. 
 
 " 20 " Sundries 
 
 i 1 
 
 ( ( 
 
 ! j 
 
 1850. 
 
 April 30 ToBalance 
 
 i I 
 
 138 
 
 William 
 
 2 $ 200 
 
 500 
 
 00 
 00 
 
 700 
 
 00 
 
 Walter 
 
 II 
 
 4 $ 4,444 44 
 4 ; 2,974 29 
 
 7,418 71 
 
 t 307 62 
 
 Blakeley. 
 
 Cr. 
 
 1850. 
 
 Feb. 
 
 9 By Sundries ! 3 
 
 13 " Sundries 4 
 
 Howard, London. 
 
 13 
 
 200 00 
 500 00 
 
 700 00 
 
 By Merchandise 3 $ 4^888 
 
 " Schooner Josephine 5 2,222 
 
 ** Balance 
 
 T3tt 
 
 {■ :,:«: 
 

 
 If fit! 
 
 n 
 
 h 
 
 f: 
 
 t 
 
 I 
 
 .1 
 
 III 
 
 Hi 
 
 14 
 
 Dr. 
 
 William 
 
 1850. 
 
 Feb. 26 To James Truman 
 
 March 27 « Company 1 Merchandise 
 
 1850. 
 
 I! I 
 
 6 j; 11,000 00 
 
 I 
 
 8 M 260 00 
 1,260 00 
 
 May 12 To Cash 14 , $ 
 
 200 
 
 00 
 
 Dr. 
 
 LOCKHART 
 
 1850. 
 
 March 16 To Shipment to New Orleans 
 
 7 $2,020 00 
 
 I 
 
 Dr. 
 
 Joseph 
 
 1850 
 
 I! 
 
 April : 10 To Sundries j 9; $ 62 00 
 
 3»469 , 32 
 
 3,531 32 
 
 30 
 
 " Sundries. 
 
 11 
 
 440 
 
 Evans. 
 
 Cr. 
 
 14 
 
 I860. ' I 
 
 Feb. 20 By Merchandise. 
 
 4 $1,260 ' 00 
 
 May 30 By Merchandise 
 
 & A R R O T T. 
 
 NewOrleni. 
 
 1850. 
 
 I 
 
 April 2 By Merchandise 
 
 De Nones. c«di.. 
 
 1850. j 
 
 March 14 By De Nones* Consignment 
 
 141 
 
 Cr. 
 
 8 ' $2,020 00 
 
 Cr. 
 
 7 $3,531 32 
 
 3,531 32 
 
I l\ 
 
 ft 
 
 •I. ! 
 
 t s 
 
 ^ 
 
 
 15 
 
 Dr. 
 
 Irvine 
 
 185). I 
 
 April I 8 I To Fisher's Consignment ' 9 $ 1,440 ■ OO 
 
 " I 1^ " Sundries 9 1^350 qq 
 
 " ! 16 
 
 " Oliver Otis & Co I 9!! 310^00 
 
 " Sundries 10 ' 1,445 qO 
 
 4,545 ' 00 
 
 Dr. 
 
 H. B. Walker 
 
 lAiO. 
 
 April I 30 To Sundries u 
 
 Dr. 
 
 Joseph 
 
 April 30 To Sundries n $4,987 '50 
 
 142 
 
 11 
 
 1 
 $ 2,650 
 
 00 1 
 
 
 Fisher. 
 
 Cr. 
 
 15 
 
 18A0. 
 
 . 1 I! I 
 
 April 16 By Fisher's Consignment | 9 $ 4,545 oO 
 
 & C M P., Port au Prince. 
 
 Cr 
 
 1850. I 
 
 April 28 By Merchandise |u ''tS.eSO |oO 
 
 Ruiz, Puerto Principe. 
 
 Cr. 
 
 1S0O. ! ! 
 
 April 30 By Cash 
 
 143 
 
 jl 
 11 $4,987 
 
 -- . I' 
 
 50 
 
 m 
 
if 
 
 16 
 
 De. 
 
 Shipment to 
 
 I860. ' 
 
 Feb. 4; To Sundries 
 
 April 30 " Profit and Loss 
 
 3 $1,822 
 
 12 1 1 197 
 
 22 
 
 78 
 
 2,020 00 
 
 Dr. 
 
 Shipment to 
 
 Feb. ; 27; To Sundries 
 
 " 28 "Sundries i 5 
 
 April 30 " Profit and Loss 12 
 
 $ 3,908 00 
 201 56 
 1,890, 44 
 
 Dr. 
 
 Shipment to 
 
 I860. || } 
 
 April, 13 ToSundries I 0' $3,500 00 
 
 I860. 
 
 April 30 To Balance 
 
 144 
 
 3,500 00 
 
 New Orleans. 
 
 Cr. 
 
 16 
 
 I860. 
 
 March 16 
 
 By Lockhart & Arrott ;..,. ' 7 ''$2,020 
 
 Port au Prince. 
 
 Cr. 
 
 ifeo. 
 
 April 28 By Merchandise in ^6,000 00 
 
 6,000 
 
 00 
 
 Boston. 
 
 Cr 
 
 u- 
 
 
 April 
 
 • 
 
 30 
 18 
 
 May 
 
 
 19 
 
 Hy Balance 
 
 By J. Eaton & Co 13 
 
 145 
 
 4,600 00 
 
'.11 
 
 ITF 
 
 i 
 
 17 
 
 Dr. 
 
 1850. 
 
 March 3 
 
 7 
 
 14 
 
 To Cash . . . 
 " Sundries. 
 " Sundries. 
 
 Dr. 
 
 I860- 
 
 i46 
 
 De Nones* 
 
 ) !l 
 
 Dollars 
 
 Fisher's 
 
 Dollars 
 
 4,680 
 
 6 $ 460 00 
 
 6 !| 55 00 
 
 7 3,799 27 
 
 4,314 27 
 
 April 16 To Sundries 9 $ 4,680 00 
 
 00 
 
 Consignment. 
 
 Cr. 
 
 1850. 
 
 March 
 
 3 
 4 
 
 9 
 10 
 10 
 
 By Cash , | q 
 
 " Sundries ! g 
 
 « S.H.Lovell 6 
 
 " Cash ^ Q 
 
 " Merchandise ' q 
 
 456 
 
 475 
 
 150 
 
 1,233 
 
 2,000 
 
 Consignment. 
 
 Cr. 
 
 1850. 
 
 April 
 
 M 
 
 II 
 
 <{ 
 
 By Sundries /,, 3 
 
 " Irvine Fisher ; i 9 
 
 " Shipment to Boston ....^ 9 
 
 " Thomas Blanchard 9 
 
 " Cash ; 9 
 
 $ 2,160 
 
 1,440 
 
 720 
 
 43 
 
 316 
 
 17 
 
 
 4,314 * 
 
 
 00 
 00 
 00 
 27 
 00 
 
 27 
 
 00 
 00 
 00 
 20 
 80 
 
 4,680 00 
 
 147 
 
Wi 
 
 i 
 
 18 
 
 Dr. 
 
 Company 1 
 
 1850. 
 
 March 20 To Cash ' 7 
 
 21 "PaulHarris yli 
 
 " 30 " Sundries 3 
 
 1850. 
 
 2,000 00 
 1,187 50 
 4,662 50 
 
 7,850 00 
 
 Dr. 
 
 Company 2 
 
 1850. I I II I 
 
 April 20 To Sundries j lo $3,333 33 
 
 April 30 To Balance 
 
 $ 3,333 33 
 
 Dr. 
 
 Edward G. 
 
 148 
 
 Merchandise. 
 
 Cr. 
 
 18 
 
 IBSO. 
 
 w 
 
 March 23 By Sundries j 7 33,000 00 
 
 i26 "Sundries.... | 3 2,400 00 
 
 (27 " Sundries...*. 3 , 1,200 00 
 
 1,250 00 
 
 7,850 ,00 
 
 « 
 
 « 
 
 « 
 
 " Sundries , I 3 
 
 Merchandise. 
 
 Cr. 
 
 Fail & Co. 
 
 Cr. 
 
 1850. 
 
 I 
 
 May 
 
 13 
 
 By Merchandise 13 3 375 qO 
 
 149 
 

 I i 
 
 i 
 
 19 
 
 1850. 
 
 April 30 
 
 Dr. 
 
 Balances op 
 
 it 
 
 30 
 
 u 
 
 30 
 
 *t 
 
 30 
 
 « 
 
 30 
 
 tl 
 
 30 
 
 u 
 
 30 
 
 « 
 
 30 
 
 i 
 
 30 
 
 1 
 
 30 
 
 To Cash 12 
 
 " Merchandise 12 
 
 " Bills Receivable ! 12 
 
 " Store-Fixtures 12 
 
 ** Schooner Josephine ! 12 
 
 " Charles Lawrence 12 
 
 " S.H.Lovell 12 
 
 '« Walter Howard ' 12' 
 
 " Shipment to Boston 12 
 
 " Company 2 Merchandise 12 
 
 $26,274 
 15,000 
 
 6,998 
 270 
 
 5,000 
 167 
 395 
 307 
 
 3,500 
 
 3,333 
 
 61,245 
 
 Dr. 
 
 Barclay & 
 
 xbo 
 
 07 
 00 
 35 
 00 
 00 
 07 
 00 
 62 
 00 
 33 
 
 44 
 
 1850. i I II { 
 
 May 29 To Merchandise i 14 $ 175 OO 
 
 April 30, 1850. 
 
 1850. { 
 
 « 
 
 « 
 
 Livingston. 
 
 1650. 
 
 May 22 By Merchandise 
 
 Ml 
 
 Cr. 
 
 19 
 
 April 30 By Bills Payable ' 13 
 
 30 " PaulHarris 13 • 
 
 30 j '• Thnmns Bl.a'tichard ! 1 •• 
 
 I 
 4,137 11 
 4,988 20 
 
 ,93 
 
 01,245 44 
 
 Cr. 
 
 13 $ 550 00 
 
20 
 
 Dr. 
 
 1850. 
 
 May 16 To Cash 
 
 a J. 
 
 14 $ 150 00 
 
 Dr 
 
 John 
 
 luo. -I I II I 
 
 May 16 To Cash 14 t 100 00 
 
 Dr. Joseph 
 
 1850. I l! 
 
 May 18 To Shipment to Boston 13 $ 4,600 00 
 
 4,600 00 
 
 152 
 
 Martin. 
 
 Cr. 
 
 20 
 
 I860. { ! '- ~ I 
 
 May ( 10 j By Store-Expenses ' 13 '' $ 300 ' 00 
 
 Sims. 
 
 Eaton & Co., Boston. 
 
 1850. 
 
 May 
 
 « 
 
 By Sundries 
 
 153 
 
 Cr. 
 
 Cr. 
 
 13 $4,020 10 
 
 " Sundries i^ 
 
 579 90 
 
 4,600 00 
 
21 
 
 1850. 
 
 M 
 
 ay 
 
 1850. 
 
 1850. 
 
 May 
 
 Dr. 
 
 Erie Rail 
 
 16 
 
 To J. Eaton & Co. 
 
 13 $4,000 00 
 
 Dr. 
 
 Insurance. 
 
 May 18 To Bills Payable 13 
 
 401 25 
 
 Dr. 
 
 Shipment to 
 
 23 To Sundries 
 
 13 $ 6,806 52 
 
 154 
 
 Road Stoc 
 
 K. 
 
 1850. 
 
 May 
 
 23 By Sundries 
 
 San Francisco (Joint). 
 
 155 
 
 Cr. 
 
 21 
 
 Cr. 
 
 13 8 293 
 
 01 
 
 Cr. 
 
v\ 
 
 V 
 
 CASH-BOOK. 
 
 B. & M. 
 
 1850. 
 
 NoTE.-In this book first appear all the sums of money which we receive 
 and pay ; the entries arc made immediately on receiving or paying the sums. 
 
 This book gives us an exact idea of the state of our Cash funds; showin- 
 from what source we have received, how we have applied them, and wha" 
 amount we ought to have on hand. From this book entries pass into the day- 
 book daily, weekly, or monthly; if weekly or monthly, the forms of the emries 
 are shown in the day-book under date of May 30th. As this book involves 
 a knowledge of journalizing, the following rules may aid the student in ma- 
 king entries m the cash-book. 
 
 Rule 1. The first word or name that we enter on the Dr. side, when we 
 receive any sum, should be the name of the creditor (person or object) that we 
 owe, or ought to credit, for the sum we receive. ' 
 
 Rule 2. The first name or w(frd that we enter on the Cr. side, when we 
 pay any sura, should be the name of the debtor that owes us, or that we ouffht 
 to debit, for the sum we pay. 
 

 I 
 
 1 
 
 i 
 
 II 
 
 Dr. 
 
 Cash. 
 
 1850. 
 
 an. 
 It 
 
 t* 
 
 u 
 If 
 u 
 
 5 
 
 5 
 
 12 
 
 19 
 20 
 
 22 
 
 24 
 
 850. 
 
 fan. i 30 
 
 Feb. 9 
 
 <f 
 
 M 
 
 23 
 24 
 
 To Thos. Blanchard, received of him as capital 26,000 
 
 C. C. Marsh, received of him as capital 12,000 
 
 " Merchandise, received of S. H. Lovell for bill 
 
 of this date 125 
 
 Oliver Otis & Co., received of them on account . . . 1,000 
 " Merchandise, received for sundry sales of this 
 
 date 250 
 
 " James Truman, received of him for loan of 17th ' 
 
 inst J 000 
 
 " Merchandise, received for sundry sales of this : 
 
 <3ate 160 
 
 40,535 
 
 I 
 
 Balance on hand ' 33,205 
 
 To William Blakeley, received of him in full for bal- 
 ance of account of $200 
 
 " Merchandise, received of J. Truman on bill of 
 
 81,620 of this date 
 
 " Bills Receivable, received for Strang, Adriance, & 
 
 Co.'s Note, No. 11, discounted. . 
 
 100 
 
 120 
 
 2,000 
 
 OC 
 00 
 
 ^00 
 00 
 
 00 
 
 .00 
 
 00 
 
 I 
 
 00 
 
 I 
 
 I 
 
 I 
 
 00 
 00 
 00 
 00 
 
 35,425 00 
 
 158 
 
 Forward. 
 
 » I 
 
 UK. 
 
 Jan. I 7 
 14 
 
 €t 
 
 U 
 
 tl 
 
 it 
 
 (( 
 
 1850. 
 
 Feb. 
 
 16 
 
 17 
 
 28 
 
 30 
 
 10 
 
 Cr. 
 
 By Store-Fixtures, paid W. Wharton's bill 
 
 " Merchandise, paid Rogers & Brothers for bill 
 
 it 
 
 $ 300 00 
 800 , 00 
 
 of this date 
 Merchandise, paid C. Bernard balance of bill 
 
 of $3,200 of this date 
 
 " James Truman, paid him as a loan 
 
 " Bills Receivable, paid J. Truman as a loan on his 
 
 Note, No. 6, at 12 months 
 
 " Bills Payable, paid our Note, No. 2, in favor 
 
 of T. P. Cope & Son ' 1,230 ( 00 
 
 Balance on hand 
 
 2,000 ' 00 
 1,000 00 
 
 i 
 2,000 00 
 
 « 
 
 « 
 
 2 
 2 
 
 4 
 
 « 
 
 (( 
 
 M 
 
 tt 
 
 tt 
 
 tt 
 
 It 
 tt 
 
 tt 
 
 <5 
 
 (< 
 
 12 
 13 
 
 20 
 ! 
 '20 
 
 24 
 
 25 
 
 I 
 
 26 
 
 28 
 
 28 
 
 2S 
 
 tt 
 tt 
 
 tt 
 
 tt 
 
 ft 
 tt 
 
 tt 
 
 tt 
 
 tt 
 
 Merchandise, 
 Merchandise, 
 
 By Store-Expenses, paid sundry expenses, as per 
 
 petty Cash-Book 
 
 Bills Payable, paid balance of our Note, No. 1, 
 
 „, . for $1,080, favor H. Austin. . . . 
 
 Shipment to New Orleans, paid insurance and 
 
 shipping expenses on Invoice 
 consigned to Lockhart & Arrott, 
 
 per Brig Franklin 
 
 paid Haven & Smith balance of 
 
 bill of $1,240, of this date 
 
 paid freight and charges on In- 
 voice received from W. Howard, 
 London, per "Washington" . . . 
 
 Walter Howard, paid shipping expenses on In- 
 voice per "Atlantic,'* to his order 
 
 Walter Howard, paid Insurance on $2,805, at 
 
 3 o|q, Invoice per "Atlantic" . . 
 
 Discount, paid on Note No. 11, discounted 
 
 Schr. Josephine, paid Capt. C. Davis balance of 
 
 bill of $5,000, her cost 
 
 SchF Josephine, paid Wm. Smith's bill for sun- 
 dry articles for her 
 
 Shipment to Port au Prince, paid expenses on In- 
 voice consigned to H. B. Walker 
 & Co., per "Josephine" 
 
 Schr. Josephine, paid Atlantic Insurance Comp. 
 
 ^ ° 1 premium on $5,000 
 
 $ 65 00 
 
 525 
 
 100 
 100 
 
 422 
 
 75 
 
 85 
 31 
 
 32 
 
 00 
 00 
 
 00 
 
 00 
 
 15 
 00 
 
 2,600 00 
 
 Balance on hand 
 
 159 
 
 155 
 
 00 
 
 
 
 120 
 
 00 
 
 26 
 
 00 
 
 ;ji,l:iO 
 
 53 
 
 35,425 
 
 00 
 
 1 
 
 
 
A' 
 
 3, 
 
 Dr. 
 
 Cash. 
 
 I 'I 
 
 m ' 
 
 11 
 
 ;, 
 
 'sip* 
 
 Mi 
 
 (( 
 
 <( 
 
 tt 
 
 i( 
 
 (( 
 
 it 
 
 tt 
 
 u 
 
 5 I 
 
 1850. I 
 
 Feb.j 28 I Balance on hand 
 
 Mar. 3 ^ To De Nones' Consignment, received for sundry sales 
 I of this date 
 
 * De Nones' Consignment, received of Thomas Mil- 
 ton for bill of this date 
 
 ' Bills Receivable, received for Oliver Otis & Co/s 
 
 acceptance No. 2 
 
 * S. H. Lovell, received of him for balance of 
 
 account of January 
 
 * De Nones' Consignment, received of L. M. Hoff- 
 man & Co. proceeds of sale at 
 auction 
 
 ' Bills Receivable, received for P. Harris's Note 
 
 No, 5 
 
 * Merchandise, received of P. Harris for bill of 
 
 this date 
 
 * Bills Receivable, received for S. H. Lovell's ac- 
 ceptance, No, 8 
 
 * Paul Harris, received of him for purchases 
 
 in joint account 
 
 * Comp. 1 Merchandise, received of E. K. Collins 
 
 balance of bill of $3,000, of this 
 date 
 
 ' Comp. 1 Merchandise, received of Haven & Smith 
 
 balance of bill of $1,250 
 
 ' Comp. 1 Merchandise, received of O. Otis & Co. 
 
 balance of bill of $1,200 
 
 1850. 
 
 Mar. 
 Apr. 
 
 9] 
 I 
 10 
 
 12 
 
 12: 
 
 16 
 18 
 23 
 
 28 
 27 
 
 I 
 
 31,120 
 
 456 
 
 300 
 
 2,670 
 
 250 
 
 1,233 
 
 53 
 00 
 00 
 00 
 00 
 
 27 
 
 325 i 00 
 
 I 
 525 00 
 
 251 37 
 
 2,000 00 
 
 909 
 
 1 
 
 440 
 
 
 30^ 
 
 7 j To Interest, 
 
 it 
 
 tt 
 tt 
 
 tt 
 
 8 
 
 14 
 16 
 
 18 
 
 2i 
 
 Balance on hand 
 
 received on C. Bernard's Note, 
 No. 15, renew^al of No. 1 
 
 " Fisher's Consignment, received of H. Burrell & 
 
 Co. for bill of this date 
 
 " Oliver Otis & Co., received of them on account . . . 
 
 " Fisher's Consignment, received of P. Harris for 
 
 bill of this date 
 
 " Merchandise, received of T. Owen & Son 
 
 on bill of $1,837.50, of this 
 date 
 
 " Bills Receivable, received balance of Brown Bros. 
 
 & Co.'s Bill of Exch., No. 13, 
 for «ei,000, sold 
 
 40,481 
 
 28,787 
 21 
 
 Forward. 
 
 10 
 50 
 
 00 
 
 77 
 
 33 
 00 
 
 160 
 
 1,440 
 500 
 
 00 
 00 
 
 316 
 
 80 
 
 637 
 
 50 
 
 2,622 
 
 71 
 34 
 
 34,325 
 
 ^ 
 
 
 II 
 
 II 
 
 20 
 
 20 
 
 25 
 26 
 
 1SS6. 
 
 Apr. 
 
 «i 
 
 II 
 
 <i 
 it 
 
 tt 
 «i 
 
 1 
 1 
 
 2 
 
 8 
 10 
 
 11 
 13 
 
 Cr. 
 
 1850. 
 
 
 Mar. 
 
 2 
 
 II 
 
 3 
 
 11 
 
 7 
 
 II 
 
 9 
 
 
 
 By Store-Expenses, paid sundry expenses, as per 
 
 petty Cash-Book 
 
 " De Nones' Consignment, paid for Freight and Du- 
 ties on Invoice received from J. 
 De Nones, Cadiz, per Brig Clio 
 
 " De Nones' Consignment, paid for damages in sales 
 
 of 3d and 4th inst 
 
 " Bills Payable, paid our acceptance, No. 8, in 
 
 favor of Lewis Clapier 
 
 " Comp. 1 Merchandise, paid Bunker & Starr for 
 
 our ^ bill in joint account with 
 P. Harris 
 
 " Paul Harris, paid Bunker & Starr for his J 
 
 bill of Flour in joint account 
 
 * with us 
 
 C. C. Marsh, paid him on account 
 
 " Bills Receivable, paid Brown Brothers & Co. bal- 
 ance of their Bill of Exchange 
 of dei,000=$4,S00 
 
 Balance on hand 
 
 By Store-Expenses, paid sundry expenses as per 
 
 petty Cash-Book 
 
 " Store-Expenses, paid G90. Loder three months 
 
 rent o^ Store 
 
 " Merchandise, paid Freight and charges on In- 
 voice received from Lockhart & 
 Arrott, N. Orleans 
 
 " Irvine Fisher, paid him on account 
 
 " Joseph De Nones, paid for damages in sales on his 
 
 account 
 
 " Irvine Fisher, paid him on account 
 
 " Shipment to Boston, paid expenses on Invoice 
 
 consigned to J. Eaton & Co., 
 per Brig Pilot 
 
 Forward. 
 
 $ 45 
 
 460 
 
 45 
 
 4,444 
 
 2,000 
 
 2,000 
 
 00 
 
 00 
 00 
 44 
 
 00 
 
 
 
 300 jOO 
 
 2,400 
 28,787 
 
 00 
 33 
 
 21 
 
 161 
 
 ii 
 
 40.481 
 
 77 
 
 $ 162 
 
 00 
 
 300 
 
 00 
 
 300 
 1,440 
 
 00 
 00 
 
 22 
 1,322 
 
 00 
 33 
 
 120 
 
 GO 
 
 3,666 
 
 33 
 
Ml 
 
 Dr. 
 
 '-t 
 
 if 
 
 1850. 
 
 Apr. 27 
 
 « 
 
 <i 
 
 « 
 
 it 
 
 u 
 
 27 
 27 
 
 29 
 
 30 
 
 I 
 30 
 
 If!60. 
 
 Apr^ 3C 
 
 Cash. 
 
 i 
 
 34,325 ; 34 
 
 Brought 
 
 To Merchandise, received of J. Percival for trans- 
 fer to him of purchase at auc- 
 tion 141 
 
 " Profit and Loss, received for proceeds of lottery 
 
 tickets !■ 1,700 
 
 " Profit and Loss, received in an anonymous letter ''■ 
 
 addressed to us 530 
 
 ** Schr. Josephine, received for Freight, proceeds 
 
 of last voyage 500 
 
 " Joseph Ruiz, received for his draft on P. Har- 
 mony's Nephews, at sight, for 
 $5,000 I' 4,987 
 
 " Commission, received on draft of S5,000, col- 
 lected for account of J. Ruiz . . • 
 
 75 
 00 
 00 
 00 
 
 ' 4,987 
 
 50 
 
 ! 12 
 
 j 
 1 
 
 50 
 
 i 
 
 1 
 
 42,197 
 
 09 
 
 Balance on hand 20,274 07 
 
 (6 
 
 Cr. 
 
 1850. 
 
 Apr.! 15 
 ' 18' 
 21* 
 
 21 ; 
 
 24 1 
 
 it 
 
 (( 
 
 « 
 
 u 
 
 M 
 
 28 
 
 '30' 
 
 30 I 
 
 ! I 
 
 30. 
 
 By 
 
 (( 
 
 <( 
 <( 
 
 (( 
 
 (( 
 
 tt 
 
 Brought 
 
 Thos. Blanchard, paid him on account 
 
 Irvine Fisher, paid him balance of account 
 Profit and Loss, paid for 12 lottery tickets . . 
 Exchancre, 
 
 T ° 
 
 Interest, 
 
 Merchandise, 
 
 paid on $475 uncurrent money, 
 paid on our Note No. 13, re- 
 newal of No. 9 
 
 paid expenses on Invoice re- 
 ceived from H. B. Walker & Co. 
 
 Store-Expenses, paid expenses this month, as per 
 
 petty Cash-Book 
 
 H. B. Walker & Co., paid A. Belmont for Bill of 
 
 Exchange, No. 18, for 14,062.72 
 francs remitted to them 
 
 Joseph De Nones, paid B. Blanco for Bill of Ex- 
 change, No. 19, on Francia & Co., 
 for $3,454.80, remitted to him- . 
 paid M. Taylor for Bill of Ex- 
 change, No. 20, on Drake Bros. 
 & Co., for $5,050, remitted to 
 
 him 
 
 paid premium on 10,500 Span- 
 ish dollars, at f ^|o 
 
 :in hand 
 
 30 " Joseph Ruiz, 
 
 30 j " Exchange, 
 
 
 r 
 
 $3,666 
 
 33 
 
 500 
 
 00 
 
 245 
 
 00 
 
 120 
 
 00 
 
 8 
 
 31 
 
 8 
 
 40 
 
 75 
 
 00 
 
 200 
 
 00 
 
 2,643 
 
 37 
 
 3,402 
 
 1 
 
 98 
 
 4,974 88 
 
 78 
 36,274 
 
 I 
 
 75 
 
 07 
 
 42,197 09 
 
 J-OS 
 
•voj 
 
 w 1 i 
 
 
 Ji 
 
 J 
 
 IIYOICE-BOOK. 
 
 B. & M. 
 
 1850. 
 
 Note.— In this book are copied all bills of goo^s bought and all invoices of 
 goods received into our possession. From this book the entries pass into the 
 day-book, either daily, weekly, or monthly. If weekly or monthly the word- 
 ing or form of the day-book entries is shown under date of May, in the day- 
 book. 
 
 A 
 
New York, January 5, 1850. 
 
 1 
 
 t 
 f 
 
 t 
 
 ' 'i 
 
 ni 
 
 In ■ 
 
 i ( 
 
 E. 
 
 Inventory of Merchandise advanced by C. C. Marsh, as 11 
 Capital:— jj 
 
 T,'' 
 
 20 doz. Snyder's Shovels at 
 
 20 " Spades 
 
 50 boxes Derby Scythe-Stones 
 
 40 doz. Grass Scythes 
 
 20 " Corn " 
 
 60 " Porter's Patent Balances . . 
 200 common Curry-Combs 
 
 25 gross Britannia Tablespoons 
 
 10 " " Teaspoons 
 
 20 6 ft. Mill Saws 
 
 20 61 ft. Cross-Cut Saws 
 
 30 Razor Strops 
 
 100 pr. Waffle Irons 
 
 50 doz. Patent Coffee-Mills 
 
 2000 qr.-in. Steel Augers 
 
 20 doz. Collins' Axes 
 
 1^ reams Hardware Paper 
 
 New York, January 1, 1850. 
 
 Signed 
 
 $7.50 
 
 7.50 
 
 3.25 
 
 12.00 
 
 13.00 
 
 10.00 
 
 .62i 
 
 5.00 
 
 2.00 
 
 4.75 
 
 3.00 
 
 2.00 
 
 .62^ 
 5.00 
 .06 
 20.00 
 
 $150 00 
 150 00 
 162 50 
 480 00 
 260 00 
 600 00 
 125 00 
 125 00 
 
 20 00 
 
 95 00 
 
 60 00 
 
 60 00 
 
 62 50 j, 
 250 00 ii 
 120 00 I 
 400 00 !i 
 
 5 00 $3,125 00 
 
 C3 
 
 
 C. C. Marsh. 
 
 E. 
 
 New York, January 14, 1850. 
 
 Messrs. Blan chard & Marsh 
 
 Bought of Henry Austin, 
 
 1 crate common Curry-Combs — 
 
 100 doz at 
 
 1 crate patent Curry-Combs, 100 doz. 
 20 doz. Goodyear's patent Pitchforks. 
 10 
 
 5 
 15 
 
 6 
 
 6 
 40 
 
 tt 
 
 (( 
 
 tt 
 
 i( 
 
 .621 
 .87| 
 
 5.50 
 
 9.50 
 
 7.50 
 
 Manure 
 Long Shovels 
 
 Madeira Straw-Knives 14.00 
 
 real Steyre Scythes 10.00 
 
 common German Scythes 5.00 
 
 Jack-Saws 2.75 
 
 20 boxes Iron Mills 6.00 
 
 1 cask, 50 pieces, Waffle Irons 7.50 
 
 1 " Cutlery 
 
 (( 
 
 $62 
 
 50 
 
 87 
 
 50 
 
 110 
 
 00 
 
 95 
 
 00 
 
 37 
 
 50 
 
 210 
 
 00 
 
 60 
 
 00 
 
 30 
 
 00 
 
 110 
 
 00 
 
 120 
 
 00 
 
 37 
 
 50 
 
 540- 
 
 00 
 
 1,500 00 
 
 Note at 30 days. 
 
 166 
 
 ii 
 
 New York, January 15, 1850. 
 
 New York, January 15, 1850. 
 
 Messrs. Blanch ard & Marsh 
 
 Bought of Rogers & Brothers, 
 
 10 boxes Cotton Cards, 4 doz. each. . .at $5.50 $220 00 
 
 5 « Wool " 4 « ... 4.00 80 00 
 20 " best Ink 2.00 40 00 
 
 6 cwt. American Blister Steel 6.50 39 00 
 
 250 lbs. German Steel 15 37 50 
 
 100 « " " 14 14 00 
 
 3 Mousehole Anvils, wt. 600 lbs 12^ 75 00 
 
 3 Birmingham " " 500 " 07 35 00 
 
 20 gross Gilt Vest Buttons 75 15 00 
 
 40 " Gilt Coat " 1.50 60 00 
 
 10 " Steel Coat « 4.50 45 00 
 
 10 " Steel Vest « 2.OO 20 00 
 
 3 " Braces and Bitts 10.00 30 00 
 
 2 doz. Knives and Forks 11.25 22 50 
 
 6 " Rogers' Penknives 5.00 30 00 
 
 1 " Knob Locks 10.00 10 00 
 
 2 " 32-inch Grass Scythes 13.50 27 00 
 
 Received Payment, 
 
 Rogers & Brothers, 
 ^^^^ pr. John Sims. 
 
 $ 800 00 
 
 /«7 
 
t >i 
 
 I. ^ 
 
 B&DI 
 
 No. I. 
 No. 2. 
 No. 2. 
 
 No. 3. 
 No. 4. 
 No. 5. 
 
 E. 
 
 New York, February 13, 1850. 
 
 Invoice of Merchandise shipped per steamer Washing, 
 ton, Capt Floyd, consigned to Blanchard & Marsh, 
 INew York, pursuant to their order and for their ac 
 count, VIZ. : — 
 
 5 Cases. 
 
 12 ps. 210 yds. Super Blue Cloth, at 20s... 06210 00 00 
 
 11 " 325 " Black Cloth 30s... 487 10 00 
 
 9 " 275 " Brown and Drab 
 
 Cassime/es lOs... 137 10 00 
 
 75 " 2500 
 24 " 244 
 20 *' 300 
 
 « 
 
 (( 
 
 i( 
 
 Ginfjharas 
 
 Is... 125 00 00 
 
 6-4 Muslin ig. 2d. 14 04 08 
 
 4-4 Muslin Is... 15 qo 00 
 
 Charges. 
 
 989 04 08 
 
 Packing Cases £ 3 15 q2 
 
 Duty and entry jg j^ qq 
 
 Cartage and litterage 19 jo qqi 
 
 Insurance and policy 22 04 06 
 
 Commission 52 07 07J 110 15 04 
 
 London, December 31, 1849. 
 
 dCllOO 00 00 
 
 (Signed) Walter Howard. 
 
 Equal to, at the rate of 4s. 6d. per 
 
 I6d 
 
 \ 
 
 SALES-BOOK. 
 
 B. & M. 
 
 1850. 
 
 $4,888 
 
 S9 
 
 Note. — In this book first appears a full description of all goods sold or 
 passed from our hands, or out of our possession. From this book the amounts 
 go 10 the day-book, either daily, weekly, or monthly: if weekly or monthly, 
 the form of the entry in the day-book is shown under date of May in that book. 
 
 At the time the purchaser selects his goods, we make an entry in this book, 
 showing the quantity, quality, and price of the same ; and from this entry we 
 make the bill which we give the purchaser. 
 
 22 
 
H' 
 
 \l 
 
 1 
 
 K. 
 
 CO 
 
 d 
 
 o 
 o 
 
 <v 
 
 
 CA 
 
 w 
 
 o 
 
 New York, January 8, 1850. 
 
 Sold to Paul Harris, at 60 days 
 
 250 doz. common Curry-Combs at $ .08 $170 00 
 
 10 gro. Allison's Britannia Teaspoons 2.12\ 2125' 
 
 30 doz. Duff Razor Strops 2.121 63 75 
 
 1000 qr.-in. Can's Steel Augers 07 70 00 $ 325 DO 
 
 10 
 
 Sold to William Blakeley, at 30 days— 
 
 1000 qr.-in. Augers at $ .07 
 
 100 doz. Curry-Combs 87i 
 
 20 " Pitchforks ^ 5*50^ 
 
 10 " Manure Forks 9.50 
 
 5 " Long Shovels 7,50 
 
 20 « Wool Cards 4.00 
 
 10 gross Gilt Vest Buttons .73 
 
 S70 
 87 
 
 110 
 
 95 
 
 37 
 
 80 
 
 7 
 
 00 
 50 
 00 
 00 
 50 
 00 
 80 
 
 2 J per cent, advance, 
 
 487 
 12 
 
 SO 
 20 
 
 11 
 
 Sold to S. H. Lovell— 
 
 Cash 
 
 3 Patent Balances at $10.00 $30 00 
 
 6 doz. Coffee-Mills 5.00 30 00 
 
 2 doz. Collins' Axes 2O.OO 40 00 
 
 3 " Britannia Tablespoons 5.00 15 00 
 
 Teaspoons 2.00 1 00 
 
 « 
 
 170 
 
 500 .10 
 
 125 
 
 New York, February 4, 1850. 
 
 Invoice of Hardware shipped per Brig Franklin, Kay, 
 consigned to Lockhart & Arrott, New Orleans, to be 
 sold on our account, viz. : — 
 
 15 Boxes. 
 
 N.O. 
 
 am 
 
 E. 
 
 20 doz. Shovels at $7.50 $150 00 
 
 20 " Spades 7 59 
 
 50 boxes Scythe-Stones 3.25 
 
 40 doz. Grass Scythes 12.00 
 
 ^0 " Corn " 6*30 
 
 30 patent Balances 10.00 
 
 20 Mill Saws 4*75 
 
 20 Cross-Cut Saws 3,00 
 
 20 doz. Pitchforks '. . 5*50 
 
 10 '« Coffee-Mills 5.0O 
 
 55 pr. Waffle-Irons 53^ 
 
 1 ream Hardware Paper 
 
 150 00 
 
 162 50 
 
 480 00 
 
 126 00 
 
 300 00 
 
 95 00 
 
 60 00 
 
 110 00 
 
 50 00 
 
 34 47 
 
 4 25 
 
 Charges. • 
 
 1,722 22 
 
 Cartage and labor <g20 33 
 
 Packing Boxes 25 63 
 
 Insurance on $1,768, at 3 per cent., 
 
 and policy 54 q^ ^j^qq qq 
 
 New York, February 4, 1850. 
 
 
 $1,822 22 
 
m 
 
 II I 
 
 COMMISSION SALES-BOOK. 
 
 B. & M. 
 
 1850. 
 
 Note. — This book contains a minute description of the merchandise soio 
 for account of others. The entries in it are drawn from the sales-book. 
 
 From this book we make the account-sales that we may have to render to 
 those persons for whom we have sold goods. 
 
I 
 
 
 f ; 
 
 Dr. 
 
 Sales of Fruit for Acco 
 
 UNT 
 
 3 To Cash, 
 
 i 
 
 ti 
 
 n 
 
 « 
 
 14 
 14 
 14 
 
 paid Duty and permit 
 
 paid Freight and primage 
 
 paid Cartage and labor 
 
 C. Lawrence, paid him for damages 
 
 Cash, paid sundries for damages 
 
 Store-Expenses, Storage, and Advertising 
 
 " Commission on $4,314.27, at 5 o|o 
 
 " Joseph De Nones, for amount of net proceeds 
 
 due May •SS, 1850, 
 
 « 
 
 <( 
 
 4( 
 
 $ 340 
 
 108 
 
 12 
 
 10 
 
 45 
 
 52 
 
 215 
 
 00 
 
 f 
 
 loo 
 
 00 
 00 
 
 00 
 
 1 24 
 
 71 
 
 3,531 32 
 
 4,314 .27 
 
 • The Account-sales which we render to Mr. Do Nones made 
 oat from the above, and the calculation for averaging this a Z, 
 oa,eerta,n when the net p„.eeds are due, wilf he'foand aTon' 
 the Forms and Calculations at the end of the book. ° 
 
 ii 
 
 174 
 
 OF Joseph De Nones, cadiz. 
 
 Cr. 
 
 1 
 
 isso. 
 M^r. 
 
 u 
 
 « 
 
 3 i By Cash, 
 4 
 
 4 
 9 
 
 10 
 
 100 boxes Lemons at $3 
 
 52 boxes Oranges 3 
 
 " C.Lawrence, 25 boxes Oranges, 60 ds. 3 
 
 200 jars Olives 
 
 " Cash, 100 boxes Oranges 3 
 
 " S. H. Lovell, 25 boxes Lemons, 90 ds. 3 
 
 . 25 boxes Oranges 3 
 
 *' Cash, at Auction — 
 
 150 boxes Lemons at $5.00 $750 
 
 110 boxes Oranges 3.80 418 
 
 220 jars Olives 50 110 
 
 00 . $ 
 
 00 
 
 00 
 
 50 
 
 00 
 
 00 
 
 00 
 
 00 
 00 
 00 
 
 175 
 
 aoo DC 
 
 156 ioo 
 
 75 1 00 
 
 100 1 00 
 
 300 00 
 
 75 00 
 
 75 loo 
 
 1,278 00 i- 
 
 I Auctioneer's Commission 2^^\o 44 73 1,233 27 
 
 10 By Merchandise, 4,000 jars Olives, 4 mos. . . at .50 2,000 00 
 
 I' 4,314 27 
 
1850. 
 
 Mar. 
 
 «i 
 
 tt 
 
 u 
 
 it 
 
 41 
 
 Dr. 
 
 Sales of Merchandise in Joint 
 
 Note.— The Acrount-siiles made out from the above, for render- 
 ing to Mr. Harris, is among the Forms, at the end of the book. 
 
 • The calculation for averaging this accoant, to ascertain when 
 the net proceeds are due, will be found among the Calculations, I 
 at the end of the book. 
 
 OC 
 
 20 ; To Cash, paid for 800 barrels Flour, at $5 
 
 =$4,000. Our one half i 82,000 
 
 21 " Paul Harris, received of him 500 bbls. Flour, 
 
 at $4.75 = $2,375. Our one half , 1,187 50 
 30 *' Storage, on 1,300 barrels, at 3 cts. per 
 
 month 
 
 30 i "Commission, on $7,850, at 2 J oJq iqq 25 
 
 30 " Paul Harris, his half of net proceeds, due 
 
 due May 5, 1850* 3,807 ' 37 
 
 30 " Profit and Loss, our half net gain 619,88 
 
 39 
 
 00 
 
 7,850 
 
 00 
 
 IM 
 
 X 
 
 Account with Paul Harris. 
 
 Cr. 
 
 1850. i 
 
 Mar. 23 By Cash, 
 
 500 bbls. Flour at $6 00 : $3,000 00 
 
 " Bills Receivable, 400 bbls. Flour 60 ds. 6 00 j 2,400 00 
 " Sundries, 200 bbls. Flour 6 00 j 1,200 1 00 
 
 «« 
 
 26 
 27 
 
 28 " Merchandise. 200 bbls. Flour 3 mos. 6 25 
 
 25 
 
 177 
 
BILL-BOOK. 
 
 B. & M. 
 
 1850. 
 
 NoTE.-In this book all notes, drafts, acceptances, and bills of exchan-e in • 
 our favor or against us, are first entered. This book supplies us with the ! 
 dates, the names, the time or credit, the time when due, and amounts of all 
 paper-claims against us or in our favor, without referring to the documents 
 themselves. 
 

 Bills 
 
 N<" DRAWN AT 
 
 DATES. 
 
 DRAWN BY 
 
 1 
 
 N.York 
 
 Jan. 4, 1850 
 
 
 Boston 
 
 Dec.31,1849 
 
 3 
 
 N.York 
 
 Jan. 10,1 850 
 
 4 
 
 do. 
 
 " 19, *' 
 
 5 
 
 do. 
 
 " 8, ♦' 
 
 6 
 
 do. 
 
 " 28, " 
 
 7 
 
 do. 
 
 Feb. 4, " 
 
 8 
 
 do. 
 
 " 13, " 
 
 9 
 
 do. 
 
 " 21, " 
 
 10 
 
 do. 
 
 " 23, " 
 
 11 
 
 do. 
 
 *♦ 24, " 
 
 12 
 
 do. 
 
 Mar. 5, " 
 
 13 
 
 do. 
 
 " 26, " 
 
 It 
 
 do. 
 
 " 27, " 
 
 i5 
 
 do. 
 
 Apr. 7, " 
 
 16 
 
 do. 
 
 " 11, " 
 
 17 
 
 do. 
 
 Jan. 17, " 
 
 IS 
 
 do. 
 
 Apr. 30, " 
 
 19 
 
 , do. 
 
 " 30, " 
 
 20 
 
 do. 
 
 ♦• 30, " 
 
 21 Boston ' May 16, " 
 
 22 N.York " 15, " 
 
 23 do. I " 20, " 
 
 24 do. " 27, " 
 
 ON WHOM. 
 
 Oliver Otis & Co. 
 
 S. H. Lovell 
 
 Christopher Bernard . 
 
 T.Perkins & Co 
 
 William Blakeley 
 
 Oliver Otis & Co 
 
 Paul Harris 
 
 James Truman 
 
 Christopher Bernard . 
 
 William Blakeley 
 
 Christopher Bernard - , 
 
 James Truman 
 
 Strang, Adriance,& Co 
 
 Oliver Otis & Co 
 
 Brown Brothers & Co Brown, Shipley, & Co. 
 
 Oliver Otis «fe Co 
 
 Christopher Bernard 
 
 S. H. Lovell 
 
 Irvine Fisher 
 
 A. Belmont 
 
 B. Blanco Francia & Co 
 
 Moses Taylor Drake Brothers & Co. 
 
 J. Eaton & Co.. 
 A. G. Beck . . . . 
 W. F. Mott, Jr. 
 A. Aranguran. . 
 
 Eagle & Hazard . 
 
 180 
 
 Receivable. 
 
 WHOSE FAVOR. 
 
 TIME. 
 
 DUE. 
 
 i' 
 
 \\ AMOUAT. 
 
 , 1 
 1 , 
 
 REMARKS. 
 
 Thomas Blanchard . . . 
 
 90 days. 
 
 ' April 7, 1850 
 
 $2000 
 
 i 
 00 
 
 Re'wedbyNo.ir). 
 
 C. C. Marsh 
 
 60 days. ' Mar. 4, " 
 
 2670 
 
 00 
 
 Paid Mar. 5, 1850. 
 
 Blanchard & Marsh. . . 
 
 30 days. Feb. 12, " 
 
 500 
 
 00 
 
 Charged to Win. 
 
 do. 
 
 30 days. Feb. 21, " 
 
 1000 
 
 00 
 
 Klakeley Pel) I'J.T.d. 
 Passed to Haven 
 
 do. 
 
 60 days. Mar. 12, " 
 
 325 
 
 00 
 
 ifePmitli, Feb. la.Txi. 
 Paid Mar. 12, '50. 
 
 Paul Harris 
 
 12 mos. Jan. 31,1851 
 6 mos. Aug. 7,1850 
 
 2121 
 320 
 
 on M 
 
 Blanchard & Marsh. . . 
 
 00 
 
 1 
 
 do. 
 
 30 days. Mar. 18, " 
 
 251 
 
 37 
 
 Paid Mar. 16, '50. 
 
 do. 
 
 60 days Apl. 25y " 
 
 800 
 
 00 
 
 Pass'd Wilmerd'g 
 
 do. 
 
 60 days. Apl. 27, " 
 
 500 
 
 00 
 
 & Mount Apl. 20, '50. 
 Pass'd Wilmerd'g 
 
 do. 
 
 90 days. May 28, " 
 
 2000 
 
 00 
 
 <fe Mount Apl. y(X T)!). 
 Discounted Febr 
 
 24, 1850. 
 
 do. 
 
 60 days. May 7, " 
 
 707 
 
 35 
 
 Paid May 7, 1850. 
 
 do. 
 
 20ds.s't 
 
 4444 
 
 44 
 
 Sold Apl. 24, '50. 
 
 do. 
 
 60 days. May 29, 1850 
 
 500 
 
 00 
 
 Paid May 29, '50. 
 
 do. 
 
 60 days. June 9, " 
 
 2000 
 
 00 
 
 
 do. i 
 
 4 mos. Aug. 14, *; 
 
 1350 
 
 00 
 
 
 T Owen & Son 
 
 3 mos. Apl. 20, " 
 
 1200 
 
 00 
 
 Pass'd Apl. 20, '50. 
 
 H. B.Walker & Co... 
 
 60ds.s't Pr. 
 
 ' 14062 
 
 73 
 
 Remitted to H. B. 
 
 Blanchard & Marsh . . 
 
 ISds.s't 
 
 
 $3454 
 
 80 
 
 Walker & Co. Apl. ;«j 
 Remitted to J. de 
 
 Joseph Ruiz 
 
 SOds.s't 
 
 
 5050 
 
 03 
 
 Nonee, Apl. 30, la^O. 
 Remit'd to J. Ruiz 
 
 t 
 
 i 
 
 i 
 
 1 
 90 
 
 April 30, 1850. 
 
 Blanchard &'Marsh. . . 
 
 60 days. July IS, 1850 
 
 554 ; 
 
 i 
 
 
 do. 
 
 4 mos. Aug. 18, " 
 
 352 
 
 00 
 
 1 
 
 
 do. 
 
 3 mos. Aug. 23, " 
 
 415 
 
 00 i 
 
 
 do. 
 
 1 
 
 i 
 
 I 
 
 6 mos. 
 
 i 
 
 Nov. 30, " 
 
 j 
 
 I 
 1 
 
 611 
 
 i 
 
 1 
 
 00 : 
 
 i 
 
 i 
 
 1 
 1 
 
 
 181 
 
Bills 
 
 Pay 
 
 N"* 
 
 1 
 2 
 3 
 4 
 
 5 
 
 6 
 
 7 
 8 
 9 
 10 
 11 
 12 
 13 
 
 14 
 15 
 16 
 17 
 18 
 19 
 20 
 
 DRAWN AT 
 
 J J ATI 
 
 I'flAWN UY 
 
 ON WHOM. 
 
 Boston 
 N. York 
 
 do. 
 
 do. 
 
 do. 
 
 do. 
 
 do. 
 London 
 N. York 
 
 do. 
 
 do. 
 
 do. 
 
 do. 
 
 Dec. 27, '49 J. Eaton & Co 
 
 Oct. 29, " C. C. Marsh 
 
 Jan. 16, '50 Blanchard &; Marsh 
 
 Thomas Blanchard . . . 
 
 (( 
 
 (( 
 
 14, « 
 Feb. 13, " 
 " 13, " 
 " 13, *♦ 
 " 16, 
 " 21, ♦* 
 " 27, " 
 " 28, " 
 Apr. 20, " 
 " 24, " 
 
 do. 
 
 do. 
 
 do. 
 
 do. 
 
 Walter Howard 
 
 Blanchard & Marsh 
 
 do. 
 
 do. 
 
 do. 
 
 do. 
 
 Blanchard & Marsh, 
 
 N.York . May 4, '50 ; Blanchard & Marsh 
 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 
 <( 
 
 (( 
 
 6, 
 15, 
 " 20, 
 " 25, 
 " 26, 
 " 28, 
 
 do. 
 do. 
 do. 
 do. 
 do. 
 do. 
 
 !82 
 
 WHOSE FAVOR. 
 
 Henry Austin 
 
 T. P. Cope & Son 
 
 Rogers & Brothers . . , 
 
 Henry Austin 
 
 United States 
 
 do. 
 do. 
 
 Lrwis Clapier 
 
 Cliristopher Bernard . . 
 
 .T. R. Dallett & Co 
 
 Phoenix Insurance Co. 
 Wilmerding & Mount 
 Christopher Bernard. . 
 
 ABLE. 
 
 TIME. 
 
 DUE. 
 
 AMOUNT. 
 
 REMARKS. 
 
 T. Owen & Son 
 
 do. 
 
 Paul Harris 
 
 Atlantic Mutual Ins. Co. 
 Trujillo & Barreiras.. 
 Harmony's Nephews . . 
 Spofrord,Ti 'eston, & Co 
 
 ; 60 days. 
 i 90 days. 
 \ 90 days. 
 : 30 days. 
 I 8 mos. 
 
 10 mos. 
 
 12 mos. 
 
 20ds.s't 
 
 60 days. 
 
 60 days. 
 
 90 days 
 
 4 mos. 
 
 60 days. 
 
 Feb. 28, 1850 
 
 Jan. 30, " 
 
 Apl. 19, « 
 
 Feb. 16, " 
 
 Oct. 16, " 
 
 Dec. 16, " 
 
 Feb. 16, " 
 
 Mar. 11, " 
 
 Apl. 25, " 
 
 ■ May 1, " 
 
 June 1, ** 
 
 Aug. 23, " 
 
 June 26, " 
 
 20 days. 
 20 days 
 
 3 mos. 
 7 mos. 
 
 4 mos. 
 6 mos. 
 3 mos 
 
 May 27, " 
 
 May 29, " 
 
 Aug. IS, " 
 
 Dec. 23, " 
 
 Sept. 28, " 
 
 Nov. 29, " 
 
 Aug. 31, " 
 
 183 
 
 $1080 00 
 1230 00 
 2100 00 
 1500 OC 
 407 1 40 
 407 41 
 407 1 41 
 4444 44 
 800 00 
 2190 1 00 
 81 {56 
 2033 33 
 800 00 
 
 1500 
 
 00 
 
 j 407 
 
 40 1 
 
 407 
 
 41 1 
 
 1 
 
 1 ''' 
 
 UU 
 
 41 1 
 
 44 
 
 800 
 
 00 
 
 , 2190 . 
 
 00 
 
 81 
 
 56 I 
 
 1 
 
 Paid Feb. 2, 1850 
 Paid Jan. 30, '50 
 Paid Mar. 23, '50 
 Paid Feb. 17, '.50 
 
 Paid Mar. 9, 1850 
 Re'wedbyNo.ia 
 Paid Apr. 24, '50 
 
 300 00 
 
 200 
 2019 
 
 00 
 01 
 
 , Paid May 27, '50 
 'Paid May 29, '50 
 
 401 125 
 320 1 00 
 030 00 
 270 00 
 
 i 
 
* 
 
 MERCANTILE 
 
 FORMS AND CALCULATIOIS, 
 
 VIZ.: 
 
 Receipts. 
 Orders. 
 
 Promissory Notes. 
 
 Endorsed Notes. 
 
 Drafts. 
 
 Bills of Exchange. 
 
 Accounts-Sales. 
 
 Accounts-Current. 
 
 Letters. 
 
 Discount and Interest, 
 Commission. 
 Insurance. 
 Exchanges — 
 
 French, 
 
 English, &c. 
 Equation of Payments. 
 Averaging Balances. 
 Profits and Losses. 
 
 24 
 
[Ii 
 
 ^11 
 
 186 
 
 MERCANTILE FORMS. 
 
 pCETPT FOR PAVMKNT hv A PfTJ. 
 From transaction cf Jan. : ) ■ -kt -xr 
 
 New York, January 7, 1850. 
 
 Received of Messrs. Blanchard & Marsh, three hundred dollars, in 
 full for bill of store-fixtures, of this date. 
 
 Geo. W. Wharton. 
 
 SUOO o|io. 
 
 ElVT FOR A \OTi:. 
 
 (From ,jn uf Jrui, 2C.) 
 
 New York, January 22, 1850. 
 Received of Messrs. Blanchard & Marsh, their note at thirty days, 
 dated 14th inst., for one thousand five hundred dollars. 
 
 Henry Austin. 
 
 PROMISS(H{Y NOTF — ,.V nr., ,^-p, 
 
 AiAn 01 (From tranf^^r'i-r. of Jan. 5.) 
 
 '1^0 1 100 New York, January 4, 1850 
 
 On demand, I promise to pay to the order of C. C. Marsh, oup 
 hundred and forty dollars : Value received. 
 
 Charles Lawrence 
 
 PR0\fI«2>'ORy VOTP 
 
 '500 I J 00 New York, January 10, 1850. 
 
 Thirty days afler date, I promise to pay to the order of Blanchard 
 & Marsh, five hundred dollars : value received. 
 
 1%. r. u ,« lom William Blakeley. 
 
 Due Feb. 12, 185a 
 
 ENT)On.SEl) NO'J'E— AviTfi ivrrnr'^T. 
 ^ -'1 tronfnrfion of Jm. 2«.) 
 
 «2,121 00. New York, January 28, 1850. 
 
 Twelve months after date, I promise to pay to the order of Paul 
 Harris, two thousand one hundred and twenty-one dollars : value re 
 ceived. 
 
 Due Jan. 31, 1851. JamES TruMAN. 
 
 Note— As P. Harris is the endorser in tliis note, his name should be on the back of it. He 
 may endorse specially or eim ply— specially by writing •' Pay to the order of Blanchard & 
 Marsh ;" simply, by merely writing his name. 
 
 MERCANTILE FORMS. 
 
 PKO.MissoRY .\ori:. 
 
 187 
 
 81,500 o|ioo New York, January 14, 1850. 
 
 Thirty days after date, we promise to pay to the order of Henry 
 Austin, one thousand and five hundred dollars : value received. 
 
 Blanchard & Marsh. 
 
 Due Feb. 16, 185a 
 
 -> 
 
 [No.l.] BILL OF F'''''^^'V'-^f^ 
 
 (FrciT! trnMr.c-t-fjn cf FcV. ^Z.'i 
 
 Exch. for 66500 stg. New York, Februar*£5, 1850. 
 
 ^ixty days after sight of this our first of exchange (second, third, 
 and fourth, of same tenor and date, unpaid), pay to the order of Capt. 
 Caleb Davis five hundred pounds sterling, value received, and charge 
 the same to our account. 
 
 To Walter Howard, London. 
 
 Blanchard & Marsh. 
 
 NoTB —The above is one of the set. A bill of exchange consists of four drafts, in order to 
 expedite the forwarding and collecting ; one being paid, the others become null. 
 
 DR '^X'^^ 
 
 «1,080 00. ^ c4 Boston, December 25, 1849. 
 
 Sixty days after sight, pay to the order of Henry Austin, one thou- 
 sand and eighty dollars, value received, and charge the same to our 
 account. J^ .-^ T. Perkins & Co. 
 
 To Thos. Blanchard, New York. 
 
 DlLVFl .\r 8IGHi 
 A^..^ ni action cl Apl. 11) 
 
 •310 oijQ^ ^. New York, April 14, 1850. 
 
 At sight, without grace, pay to the order of Blanchard & Marsh, 
 three hundred dollars, value received, and charge the same to our ac- 
 count, p Oliver Otis & Co. 
 To Irvine Fisher, Esq., New York. 
 
 AN 0R15eR. 
 
 S288 0|ioo New York, March 2,^ 185a 
 
 Messrs. Blanchard & Marsh will please deliver to the order of 
 W. Blakeley such goods as he may choose, to the amount of two hun- 
 dred and eighty-eight dollars, and charge the same to 
 
 Charles Lawrence. 
 
»l 
 
 188 
 
 MERCANTILE FORMS. 
 
 Account-Sales of Invoice of Fruit received per Brig " Clio," sold 
 by order and for account of Joseph De Nones, Cadiz. 
 
 18SC. 
 
 Mar. 
 
 ti 
 
 it 
 
 it 
 
 it 
 tt 
 
 3 
 3 
 
 4 
 
 4 
 
 4 
 9 
 9 
 
 10 
 10 
 10 
 
 100 boxes Lemons, at $3.00, cash $300 00 
 
 52 boxes Oranges, 3.00 " 156 00 
 
 $ 456 ' 00 
 
 25 boxes Oranges, 
 ^Oji 
 
 jars Olives, 
 
 100 boxes Oranges, 
 25 boxes Lemons, 
 25 boxes Oranges, 
 
 150 boxes Lemons, 
 110 boxes Oranges, 
 220 jars Olives, 
 
 3.00, 60 days. 
 .50 60 " 
 
 3.00, cash 
 
 3.00, 90 days. 
 3.00 90 " . 
 
 5.00, cash 750 00 ; 
 
 3.80 " 418 00 
 
 .50 " 110 00 
 
 . 75 
 
 00 
 
 . 100 
 
 00 
 
 
 « 
 
 . 75 
 
 00 
 
 . 75 
 
 00 
 
 Sold at auction 1,278 00 
 
 Auctioneer's commission 3^ °|o 44 73 
 
 175 GO 
 
 300 , 00 
 
 I 
 150 00 
 
 10 4000 jars Olives at .50, 4 mos. 
 
 Charges. 
 
 Duties and permit $340 00 
 
 Freight and primage 108 00 
 
 Cartage and labor 12 00 
 
 Refunded for damages 55 00 
 
 Storage and advertising 52 24 
 
 Commission on $4,314.27, at 5 o|o 215 71 
 
 Net proceeds, due May 25, '50 
 
 1,233 27 
 2,000 00 
 4,314 27 
 
 782 
 
 96 
 
 3,531 32 
 
 • - 
 
 E.E. 
 
 New York, March 14, 1850. 
 
 Blanchard & Marsh, 
 Per John Sims. 
 
 • Note. — The sales in this account being made on different temu 
 and at different times, a calculation is necessary in order to ascertain 
 when the net proceeds will be due : the account must be averaged. 
 I The calculation will be found among those under the head of Equa- 
 tion of Paymenttf at the end of the book— example 5. 
 
 li 
 
 MERCANTILE FORMS. 
 
 189 
 
 Account-Sales of 1,300 barrels Flour, sold by Blanchard & Marsh, 
 
 in joint account with PaulHarris. " 
 
 1880.' i 
 
 Mar. 23 500 barrels Flour, 
 " 26 400 
 
 " 27 200 " 
 
 it 
 tt 
 
 28 
 
 fl ? • 
 
 at $6.00, cash S3,000 00 
 
 6.00, 60 days 2,400. 00 
 
 6.00, 60 " ..$500 00 i 
 
 Cash 700 00^ 1,200 00 
 
 200 
 
 « 
 
 « 
 
 3 months 
 
 1,250 00 
 
 Charges. 
 
 7,850 00 
 
 I 
 
 Storage on 1,300 bbls. 1 mo., at 3 cts $ 39 00 
 
 Commission on $7,850, at 21 o|o 196 25 235 25 
 
 Net proceeds, due May 3, '50 7,614 75 
 
 ■ I ' 
 
 Of which your half is (due May 3, '50) 3,807 37 
 
 E. E. t 
 
 New York, March 30, 1850. 
 
 Blanchard & Marsh, 
 Per John Sims. 
 
 Note — ♦The calculation required to average this Account-sales,! 
 to ascertain at what date the net proceeds will fall due, will be found, 
 among the "Calculations," at the end of the book — example 4. 
 t Errors excepted. 
 
 I. i 
 
 i' i 
 
I '< 
 
 ■I 
 
 190 
 
 1850. 
 
 Jan. 
 March 
 
 u 
 
 Dr. 
 
 MERCANTILE FORMS. 
 
 Charles Lawrence in Account 
 
 5 To Balance due C. C. Marsh 
 
 2 To your draft at sight, in favor of William 
 
 Blakeley 
 
 To Merchandise, per bill rendered 
 
 I 
 
 S 140' 00 
 
 1850. 
 
 April iO To Balance 
 
 Note.— The above is an Account-curpent of the most dmplei 
 claas, being withoat interest It is made out from the Leger,| 
 referring by the dates to the entries in the Day-Book, for such I 
 explanations of the snms as may be thonght necessary. 
 
 388 
 
 00 
 
 175 00 
 
 603 OC 
 
 $ 165 00 
 
 MERCANTILE FORMS. 
 
 t 
 
 ClT/tRENT WITH BlANCHARD & MaRSH. 
 
 191 
 
 Cr. 
 
 A,... 
 
 1850. 
 
 Feb. 12 : By our draft at sight, in favor of Haven & Smith $ 140 00 
 
 " 27 ! By Merchandise, per bill rendered 288 00 
 
 March 7 By allowance on bill of 4th inst ^ 10 00 
 
 JJy JJaiuliCC - 
 
 ^ 603 00 
 
 E.E. 
 
 New York, Apl. 30, 1850. 
 
In 
 If 
 
 r'l 
 
 ^1 
 
 ii 
 t-l 
 
 'id 
 
 192 
 
 D&. 
 
 MERCANTILE FORMS. 
 
 Charles Lawrence in Account 
 
 I- ' 
 
 I 
 
 1850. 
 
 Jan. 
 
 09 
 
 Q 
 
 .T»r'^' 
 
 INT ST. 1 1 AMOrNTS. 
 
 5 
 
 Mar. 2, 
 
 •*' 
 
 Apl. 
 
 To Balance due C. C. Marsh 115 $ 2 68 $ 140 00 
 
 To Merchandise, per your draft atj ii , j| 
 
 sight, in favor of W. Blakeley . . 59 2 83 
 
 To Merchandise, per bill rendered.. ' 57 1, 42 
 
 30 To Balance of Interest, at 6 ^|o 
 
 1850. 
 
 Apl. 30 To Balance 
 
 Note. — The purchases and sales of merchani 
 disc in the above account-current are supposed 
 to be without credit or time; consequently w0 
 count the days from the dates of the purchased 
 and sales up to the day on which we make thd 
 account (April 30). Great care must be takea 
 not to calculate interest where it is not owed. 
 If a sum is not due on the date of the entry, th9 
 explanation should show when it is due. 
 
 Error in the above intrest of 24 cts. 
 
 288 00 
 1751 00 
 2, 07 
 
 6 93 
 
 605 07 
 
 $ 167 07 
 
 ( 
 
 MERCANTILE FORMS. 
 
 Current with Blanchard & Marsh. 
 
 193 
 
 Cr. 
 
 ^ 
 
 DATllS. 
 
 Vi 
 < 
 
 INT ST. 
 
 AMOUNTS. 
 
 issof 
 
 Feb.i li\ By our draft at sight, in favor of Ha 
 
 ven& Smith 77 $ 1 80 $ 14( 
 
 ( 
 
 ^7 By Merchandise, per bill j 62 
 
 t. 7 By allowance on bill of 4th inst ' 54 
 
 Apl JO By Balance of Interest. 
 
 Ma 
 
 Apl. 
 
 By Balance due lini udle 
 
 E. E. 
 
 New York, Apl. 30, 1850. 
 
 25 
 
 2 9 
 
 2 07 
 
 1 
 
 6 93 
 
 2Si 
 1( 
 
 1G7 
 
 60( 07 
 
 00 
 00 
 00 
 
 07 
 
IM 
 
 
 W 
 
 
 1 ''■ 
 
 I 
 
 Da, 
 
 MERCANTILE FORMS. 
 
 Cheist*- C. Marsh in Account 
 
 j;ATr.«. 
 
 It60. 
 
 I 
 
 Jan. 1 5 To your Note in favor of T. P. Cope 
 
 j & Son, due Jan. 30, 1850 
 
 Mar.^ 25 To Cash 
 
 Apl. 30 To Balance of Interest 
 
 <i 
 
 
 
 To Bdance 
 
 New York, Apl. 30, 1850. 
 
 Note. — An Account-current is a statement 
 which we often have occasion to render to per- 
 Bons with whom we have heen doing business. 
 It is intended to explain to the person to whom 
 it is rendered, how his account stands in our 
 books, and to show what balance is due him or u. 
 
 
 Ji\T ST. 
 
 AMotiNTS. 
 
 90 ' 18 45 
 36 1 80 
 297 69 
 
 ,230 00 
 
 MERCANTILE FORMS. 
 
 CUKRENT WITH BlaNCHARD & MaRSH. 
 
 195 
 
 Cr. 
 
 DATES. 
 
 1850. 
 
 Jan.; 5j By Cash. 
 
 
 M 
 
 tt 
 
 115 
 
 yvT c 
 
 230' 00 '$12000 00 
 
 57' 25 
 
 37 2,670 00 
 
 Apl.' 30 
 
 5 By Oliver Otis & Co.'s acceptance, 
 
 due March 4, 1850 
 
 By Merchandise 115 59 89 3,125 00 
 
 5 By Charles Lawrence's balance of 
 
 account 
 
 By Balance of Interest at 6 ®|q 
 
 115 
 
 68 
 
 *I8C I 
 
 ApL 30| By Balance 
 
 317 
 
 140 00 
 
 297 69 
 
 9^ 
 
 There are three ways of making out these ac- 
 counts, which are used according to circumstan- 
 ces: — 
 
 1st A simple statement of the account, toitkout 
 
 interest. 
 2d. A statement of the account, with interest 
 
 calculated on each sum. 
 3d. A statement of the account, showing by aV' 
 
 erage when the balance was or will be due. 
 
 The above account belongs to the second clasa 
 It is made out for one of the partners, in order to 
 ascertain the amount of interest on his capital, 
 under the supposition that the partners were to 
 be allowed interest on their respective capitals. 
 
 The balance of interest in this account ($297.69) 
 is carried to the Day-Book (Apl. 30), journalized, 
 and posted to the accounts in the Leger. The 
 account of the other partner, when made out, will 
 •how a balance of interest of $493.66. 
 
 18,232i. 69 
 
 16,7021 69 
 
 I 
 
( 
 
 .96 
 
 Dr. 
 
 MERCANTILE FORMS. 
 
 Paul Harris in Account 
 
 Ji^A'frS. i 
 
 1S90. 
 
 Jan. 8 To Merchandise, at 60 days, per bill 
 rendered, due March 12, '50 .... 
 
 Mar. 20 To Cash, paid your J bill of Flour in 
 joint account 
 
 Apl. 30 To Balance of Interest in red 
 
 •« i 30 To Balance of Interest 
 
 , 30 ' To Balaiico due tliis t]nu- 
 
 E. E. 
 
 New York, Apl. 30, 1850. 
 
 NoTK. — Tlie above balance of interest (fe.eT) 
 ia carried into the DayBook, but journalized and 
 posted wrong in order to afford an exami>lc of 
 correcting a class of erron that recjuire Day 
 Book and Journal entries to correct them. The 
 correction in this case is made by tlie last entrj 
 under date of May. 
 
 en 
 
 49 
 
 41 
 
 int'st. 
 
 .^MOUNIS. 
 
 $ 2 65 $ 325 00 
 
 13 67 
 
 1 90,: 
 
 6 67 
 
 2,000 00 
 
 24 89 
 
 7 32(>: M 
 
 I I 
 
 MERCANTILE FORMS. 
 
 Current with Blanchard & Marsh. 
 
 197 
 
 Cr. 
 
 
 TIATES 
 1890. I 
 
 Jan. 21 By your Note, at 60 days from 8th, 
 
 due March 12, 1850 
 
 Mar. 18 By Cash ; 43 
 
 By our J bill of Flour in joint ac- I 
 count with you ! 40 
 
 By your ^ net proceeds of sales in \ 
 
 joint account, due May 3, '50 j ;j 
 
 By Balance of Interest, at 6 °|o 
 
 IXT ST. 
 
 AMOUNTS. 
 
 4< 
 
 4« 
 
 21 
 
 30 
 
 49 $ 2 i65 $ 325 
 
 4 33 2,000 
 
 il 
 91 1,187 
 
 Apl. 30 
 
 1850. 
 
 Apl. 30 By Balance 
 
 Note. — The above account shows a sum on 
 the credit ($3,807..37) which is not due until 
 May 3d, being 3 days after the date on which 
 we make the account — April 30; the interest 
 on which, therefore, must belong to the debtor 
 side. When such is the case, we must calculate 
 the interest from now until the time the sam if 
 die, and write the days and interest in red ink; 
 and before adding the interest columns, we must 
 make an entry, on the debtor side, of the red-ink 
 interest. 
 
 24 
 
 90 
 
 3,807 
 6 
 
 89 
 
 00 
 00 
 
 50 
 
 37 
 67 
 
 7,326 54 
 
 S5,001 54 
 
i 
 
 J 
 i 
 
 *-ii 
 
 i 
 
 h 
 
 i 
 
 fl 
 
 198 
 
 Dr. 
 
 MERCANTILE FORMS. 
 
 Paul Harris in Account 
 
 1850. 
 
 Jan. 
 
 I ■ w \ 
 
 8 To Merchandise, at 60 days, per bill rendered. . $ 325 00 
 
 March 20 To Cash, paid for your J bill in joint account . . '' 2,000 00 
 
 ^^ ■ ■ ijalance due Apni zz^ icjou . . . 4,91)4 67 
 
 7,S19 
 
 E. E. 
 
 New York, April 30, 1850. 
 
 87, 
 
 Note.— The above is an Account-current averaged. The one 
 TO the two preceding pat^es ia the same account made up with 
 interegt. 
 
 MERCANTILE FORMS. 
 
 Current with Blanchard & Marsh. 
 
 199 
 
 Cr. 
 
 1850. 
 
 Jan. 
 
 3*.- 
 
 I 
 121 By your Note, due March 12, 1850 $ 325 00 
 
 March 18 j By Cash '12,000 09 
 
 " 21 By our ^ bill in joint account with you 1,187 50 
 
 M 
 
 1R50. 
 
 it 
 
 30 By your J net proceeds of sales in joint account 
 due May 3, 1850 
 
 ! 
 
 3,807 37 
 7,319 j37 
 
 April 30 By Balance due April 22, 1850 , i4,994 87 
 
 30 By Interest from April 22 to date — 8 days , 
 
 Note. — The above account, and the preceding, are accounts, 
 current made out for the same person, with a view to exemplify 
 two of the common methods of drawing off an account-current, 
 viz. : one with interest calculated on each sum, and the other by 
 averaging to find ichen its balance is due. The one averaged 
 shows a balance due April 22 ; now calculate and allow interest 
 on this balance from April 22 to the 30th (the date to which the 
 other account is made up), and the balances of the two accounts 
 will agree — both showing a sum due Mr. Harris, at 30th April, 
 of $5,001.54. 
 
 The calculation of averaging this account will be found under 
 the head of Equation of Paymentg — example 8. 
 
 6 j67 
 5,001 ^4 
 
 ^ 
 
Il 
 
 i ' 
 
 
 m 
 
 I 
 
 :^'i 
 
 f 
 
 li 
 
 LETTERS. 
 
 Note. — It is necessary to preserve copies of all our business letters ; for this 
 purpose a letter-book is kept. 
 
 Subjects of the following letters : — 
 
 No. 1. — Circular on commencing business. 
 
 " 2. — On ordering Goods. 
 
 ** 3. — On consigning Goods. 
 
 " 4. — On rendering Account-Sales. 
 
 " 5. — On drawing a Draft. 
 
 " 6. — On rendering Account-Current, and requesting remittance. 
 
 MERCANTILE FORMS. 
 
 201 
 
 [CIRCULAR.] 
 
 No. 1. 
 
 New York, January 5, 1850. 
 Sir : — 
 
 We, the subscribers, respectfully announce to you that we have 
 formed a copartnership under the firm of Blanchard & Marsh, for 
 the prosecution of a general commission and wholesale business ; and 
 we take the liberty of assuring you that all business intrusted to our 
 care, shall receive from us, personally, prompt and faithful attention. 
 Having friends and correspondents at numerous commercial points, we 
 possess facilities not often enjoyed by new establishments. We ar© 
 prepared to make liberal advances on consignments. 
 
 Very respectfully. 
 
 Your obedient servants, 
 
 Blanchard & Marsh 
 
 Thomas Blanchard will sign— 
 Christr. C. Marsh will sign — 
 
 Reperences: — 
 
 Messrs. Moses Taylor & Co New York. 
 
 ** Thomas Owen & Son " " 
 
 *• Trujillo & Barreiras " « 
 
 ** Penasco Brothers Havana. 
 
 ** Brown, Shipley, & Co. -.Liverpool. » 
 
 ** Hargos Brothers Vera Cruz. 
 
 Ell 
 
 26 
 
1 Pi 
 
 
 202 
 
 MERCANTILE FORMS. 
 
 No. 2 
 
 New York, January 5, 1850 
 
 Mr. Walter Howard, 
 
 London. 
 
 Dear Sir : Please accept our order for forwarding to us per 
 first vessel, the annexed list of dry goods of various patterns and of 
 good quality ; for the amount of which you may draw at thirty or sixty 
 days* sight. 
 
 We contemplate consigning to you, about 'the 1st of February, an 
 invoice of rice and pearl ashes, relative to which we solicit advice. 
 
 Having commenced a general commission business (per our circular), 
 we beg leave to solicit your favors, and pledge our honors as merchants 
 for the strict observance of your commands, and faithful performance 
 of our duty. 
 
 Very respectfully, 
 
 Your obedient servants, 
 
 Blanchard & Marsb. 
 
 MERCANTILE FORMS. 
 
 203 
 
 No. 3. 
 
 Messrs. Lockhart & Arrott, 
 
 New Orleans. 
 
 New York, February 4, 1850. 
 
 Gentn. : Enclosed we remit to you bill of lading and invoice 
 of hardware, amounting to $1,822.22, which we consign to you per 
 Brig Franklin, to be sold for our account. You will do us the favor to 
 use all possible despatch in making sales and rendering account. 
 
 "We wish you to make returns for the above in sea-islands Cotton; 
 you will therefore, without further advice, invest the net proceeds aj 
 soon as realized in that article, selected with your accustomed intelli- 
 gence, and at the lowest market price. 
 
 Keep us well informed of the state of your market ; we expect much 
 business in that direction, and from the high esteem in which we hold 
 your house, shall place as much as possible under your care, expecting 
 no less from you 
 
 Very respectfully, 
 
 Your obedient servants, 
 
 Blanchard & Marsh. 
 
Iillj 
 
 I 
 
 ill 
 
 204 
 
 MERCANTILE FORMS. 
 
 No. 4 
 
 New York, March 14, 1850. 
 
 Mr. Joseph De Nones, 
 
 Cadiz. 
 
 Dear Sir : Enclosed you will find account-sales of your con- 
 signment of Fruit, per Brig Clio: Net proceeds due May 25, 1850, 
 $3,531.32. When your Fruit arrived, prices were very low, as appears 
 by the first sales ; but a sudden demand arose, and we think we studied 
 your interest by disposing of the remainder at auction. 
 
 We await your further orders, grateful for those received, and 
 remain 
 
 Very respectfully, 
 
 Your obedient servants, 
 
 Blanchard & Marsh. 
 
 MERCANTILE FORMS. 
 
 205 
 
 No. 5. 
 
 New York, February 25, 1850. 
 
 Mr. Walter Howard, 
 
 London. 
 
 Dear Sir : We have, under this date, drawn a bill on you, at 
 twenty days' sight, in favor of Capt. Caleb Davis, for five hundred 
 pounds sterling (c£500 stg.), which you will please accept, and oblige 
 
 Your obedient servants, 
 
 Blanchard & Marsh. 
 
 Mr. Charles Lawrence, 
 
 Philadelphia. 
 
 ^^ 
 
 No. 6. 
 
 New York, April 30, 1850. 
 
 Dear Sir : Annexed we present your account-current, with in- 
 terest calculated to this date, showing a balance in our favor of $167.07; 
 for which amount, if you find correct, please remit us a sight draft. 
 
 Very respectfully, 
 
 Your obedient servants, 
 
 Blanchard & Marsh. 
 
V 
 
 206 
 
 MERCANTILE CALCULATIONS. 
 
 DISCOUNT AND INTEREST. 
 
 Interest is a certain sum charged for the use of money ; it is always 
 calculated by the 100. Six per cent. (6 o|o) signifies $6 for the use of 
 $100 for one year (or one month, if so agreed). Seven per cent. (7 °|o) 
 means $7 for the use of $100 during one year, or 7 cents for the use 
 of 100 cents for a year. Therefore, by multiplying any sum by the rate 
 per cent., and dividing the product by 100, v^e obtain the interest on that 
 sum for one year. And, having the interest for one year, we may take 
 of it — 
 
 for 6 months. 
 
 for 4 months. 
 
 J for 3 months. 
 
 J for 2 months. 
 
 1^1 for 1 month. 
 
 Example 1. 
 
 What is the interest on $2,000 for one year and three days (the grace), 
 
 at 6 1 per annum ] ^,^^ transaction of Jan. 28.) 
 
 Note. — To find the interest on any number of dollars for a year is 
 the same simple calculation as to find the amount of any number of 
 things at 6 or 7 cents each : 2,000 books, at 6 cents each, would amount 
 to $120 ; so the interest on 2,000 dollars for one year, at 6 cents each, 
 would amount to $120. 
 
 Rule (for years). Multiply the sum by the rate per cent, (here it is 6), 
 and divide by 100 ; the quotient will be the interest in dollars, if the 
 original sum be dollars, but if the original sum be dollars and cents, the 
 quotient will be the interest in cents. 
 
 $2,000 
 
 6 
 
 - 
 
 $120,00 Interest for one year, one hun- 
 dred and twenty dollars. 
 
 Rule (for days). Multiply the sum by the number of days, and divide 
 the product by 6 ; the quotient will be the interest in mills, or in hun- 
 dredths of mills if the sum be dollars and cents. 
 
 $2,000 
 3 
 
 Divisor 6)6,000 
 
 $1>00,0 Interest for 3 days, 1 dollar. 
 
 Cut off one figure for mills, and two for cents ; the rest will be dollars. 
 The interest, then, on $2,000 for 3 days is $1.00, and for one year and 
 3 days $121.00. 
 
 1! 
 
 m 
 
 I . 
 
 MERCANTILE CALCULATIONS. 
 
 2fyr 
 
 * 
 
 Example 2. 
 What is the interest on $1,080 for 26 days, at 6 o|o per annum ? 
 
 (From tranaaction of Feb. 2.) 
 
 $1,080 
 26 
 
 6480 
 2160 
 
 Divisor 6)28080 
 
 4,68,0 Interest for 26 days, $4.68. 
 
 Example 3. 
 What is the interest on $250 for 33 days, at 6 °\q per annum ? 
 
 (From transaction of Feb. 13.) 
 
 $250 
 33 
 
 750 
 750 
 
 Divisor 6)8250 
 
 1,37,5 Interest for 33 days, $1.37J. 
 
 Example 4. • 
 
 What is the interest on $3,469.32 for 25 days, at 6 o|o per annum ? 
 
 (From 4th transaction of Apl. 30.) 
 
 $3,469.32 
 25 
 
 1734660 
 693864 
 
 Divisor 6 )8673300 
 
 14,45,5,50 Interest in hundredths of mills— 
 equal to $14.45. 
 
 Although the rate of interest may vary from 6 ^l^, this method can 
 still be used. First find the interest at 6 per cent., as in the preceding 
 examples, and then — 
 
 Add ^ of itself for 7 per cent. 
 
 1 
 -•5 
 
 (< 
 
 <( 
 
 (( 
 
 (( 
 
 Thus— 
 
 Add 
 Add 
 
 Add....|- 
 Subtract i 
 Subtract J 
 
 Divide by 6) $14.45 Interest at 6 o|o— (Example 4.) 
 2.41 " at 1 ojo 
 
 • 16.86 " at7»lo 
 
 8 per cent. 
 
 9 per cent. 
 10 per cent. 
 
 5 per cent. 
 4 per cent. 
 
 Note. — This method, of multiplying by the days and dividing by 6, 
 although generally used, is not exactly correct ; it gives y^j part more 
 than the exact interest, because the rule supposes a year to be 360 days. 
 
i;i t I 
 
 208 
 
 MERCANTILE CALCULATIONS. 
 
 The error is corrected by deducting ^\ (about U cents on each dollar 
 ot interest) of the interest so found, from itself. Thus, in Example 2— 
 
 The interest is 
 Which divide by 73 
 
 $4.68 
 6 
 
 4.62 exact interest. 
 
 Note 2.— The divisor "6000," or "6," is used in calculating interest 
 tor days at 6 per cent., on account of the facility it gives in dividing by 
 so simple a number; but it does not follow that 7 is the divisor for in- 
 terest at 7 per cent., nor 5 for 5 per cent. 
 
 The divisor 6000 is found thus : When we compute interest for one 
 year at 6 per cent., we always multiply by 6 and divide by 100: there- 
 fore, dividing by 360 times 100 (36000) will give the interest for one 
 day ; and in order to save multiplying by 6, we divide by 1 of 36000. 
 which IS 6000— multiplying by 6, and dividing by 36000, produces the 
 same result as dividing by 6000. If we divide any sum by 6000 we 
 obtain the interest on it for one day at the rate of 6 per cent, per annum 
 and that interest multiplied by any number of days, will be the interest 
 tor that number of days; but to avoid a loss in fractions, we multiply 
 nrst and divide after. ^ "^ 
 
 COMMISSION. 
 
 Commission is a sum charged by a person for doing business for 
 another—for buying or selling goods, collecting or paying money. 
 
 Commission is always calculated by the 100, and has no reference 
 whatever to time. 5 per cent, signifies $5 for every 100, or 5 cents on 
 every 100 cents, or 5 cents for every dollar. The calculation is the 
 same that is required to find the amount of any number of articles at 
 
 2^ or 5 cents each. 
 
 Example 1. 
 
 What is the commission on S2,S05, at 2 J per cent. ? (Or, what will 
 
 2,805 books amount to, at 2 J CtS. each ?) (From transaction of Feb. 20.) 
 
 Rule. Multiply the sum by the rate per cent., and divide the product 
 by 100— that is, if the sum be dollars, cut off two right-hand figures; if 
 the sum be dollars and cents, cut off four. 
 
 $2805 
 2i 
 
 5610 
 1402 J. 
 
 $70.12 j Commission on $2,805, at 2J 
 
 MERCANTILE CALCULATIONS. 
 Example 2. 
 
 209 
 
 What is the commission on $4,314.27, at 5 per cent. ? 
 
 (From transaction of March 14j 
 
 $4314.27 
 5 
 
 215,73,35 Commission, $215.73. 
 
 • INSURANCE. 
 
 Insurance is a sum charged for guarantying the safety of property 
 from the dangers of sea or of fire. In case the property insured is lost, 
 the insurers pay the value that it was insured for, to the holder of the 
 policy. 
 
 A policy of insurance is a certificate or agreement which one receives 
 from an insurance company, when he gets property insured. 
 
 Insurance is calculated by the 100, in the same m^anner as commission. 
 
 Example 1. 
 What is the insurance on (or the premium for insuring) $2,805, at 
 
 3 per cent. ? 
 
 $2,805 
 3 
 
 (From transaction of Feb. 20.) 
 
 84.15 Premium of insurance, $84.15 
 =^^ Charge for the policy, 1.00 
 
 85.15 
 
 It is customary, in insuring shipments, to insure for 10 per cent, more 
 than the cost of the goods at the place where they are shipped. 
 
 What are called ojjcn policies are given by insurance companies to 
 those who have frequently to get shipments insured. An open policy is 
 a policy larger than the common, on which entries of property insured 
 are made from day to day. A note is given to the insurance company 
 for a supposed amount of premiums, and when the note becomes due, 
 the amount of premiums is ascertained and deducted from the amount 
 paid for the note, and the balance returned to the holder of the policy. 
 
 EXCHANGE. 
 
 Exchange treats of the values of different moneys, and of changing 
 sums of one kind of money to another kind without altering their values. 
 
 In some cases, foreign money should be calculated at its par or in- 
 trinsic value ; in others, at a premium, or at a discount. 
 
 The importer of an invoice of goods changes the amount of the in- 
 27 
 
 4 
 
210 MERCANTILE CALCULATIONS. 
 
 voice into his money at flie par value, and credits the person from whom 
 he received the goods for the same. But if he buys a draft, or bill of 
 exchange, by which to make a remittance, he may then pay more or 
 less than the par value of the sum for which the bill is drawn : this more 
 or less is the premium or discount, which varies according to the trade 
 between the two places. This. premium or discount is called the rate 
 of exchange, 
 
 TABLE. 
 
 Nominal value. Intrinsic value. 
 
 dCl stg. (20 s. or 40 sixpences) equals $4.44,4 S4.84-|- 
 
 1 shilling " .22,2 24+ 
 
 6 pence " .11,1 12 
 
 4 8. 6 d. (or 9 sixpences) " 1.00,0 1.09 
 
 Example 1. 
 
 What is the par value, in dollars and cents, of dGl.lOO stg. ? 
 
 • (From transaction of Feb. 13.) 
 
 Rule. Multiply the pounds by 40, to reduce them to sixpences, annex 
 two ciphers, and divide by 9 — the number of sixpences in a dollar; the 
 result will be dollars and cents. 
 
 c£1100 
 40 
 
 9 )44000.00 
 
 $4 ,888.89 — value of «£ 1,1 00 stg., at the 
 — nominal par value. 
 
 Note. — The present true or intrinsic value of dCl stg. is nearly $4.84; 
 but the old or former par value ($4.44) is generally used in accounts. 
 The $4.44 was the par value of a pound sterling previous to the adul- 
 teration of the gold coin of the United States (1834), and that nominal 
 value continues in use, the difference being made up under the name 
 of exchange or premium. When exchange on England is said to be at 
 8 or 9 per cent, premium in New York, it is in reality only about par — 
 the premium being calculated on the $4.44, the former value, instead 
 of the present. 
 
 Example 2. 
 
 What is the value of ^£20.. 10.. 6, in dollars and cents, at par I 
 
 Rule. Reduce the sum to sixpences, add two ciphers, and divide 
 by 9. Thus— 
 
 oe20 .. 10 .. 6 
 40 
 
 800 — sixpences in c£20. 
 
 20— " in 10 s. 
 
 1 — " in 6d. 
 
 9)821.00 ♦ 
 
 $91.22 
 
 i x 
 
 MERCANTILE CALCULATIONS. ti\ 
 
 Example 3. 
 
 What is the amount of a bill of exchange drawn for <£500 stg., at 
 
 8 1 premium % ^,^^ transaction of Feb. 25.) 
 
 Rule. Calculate the value at par, as in example 1, and then add the 
 premium. 
 
 oCSOO 
 40 
 
 W 
 
 9 )20000.00 
 
 ^i^'^^.'i^ Value at par. .$2222.22 
 177.78 Premium. 8 
 
 $2400.00 Ans. 
 
 117,17.76 
 
 Example 4. 
 
 I wish to invest exactly $3,650, funds in my hands belonging to a cor- 
 respondent, in a draft on New Orleans ; for what amount sliould the 
 draft be drawn, supposing the exchange at 3 per cent, discount, to cost 
 that sum 1 
 
 Rule. Multiply the sum to be invested by 100, and divide by the 
 number of cents you allow for $1. 
 
 $3650 
 100 
 
 97) 365000 ($3762.88 Amount of the draft. 
 112.88 Discount, 3 ^L off". 
 
 3,650.00 Cost of the draft. 
 
 Example 5. 
 
 The party that sold the above draft on New Orleans for $3,762 SS, at 
 3 per cent, discount, made merely this calculation: — 
 
 $3762.88 
 
 3 per cent, discount. 
 
 Dis. on the draft $112.88. 
 
 112,88,64 discount. 
 
 Example 6 
 
 I wish to invest exactly $5,000 in a bill of exchange on Liverpool ; 
 for what amount will the bill be drawn, to cost that sum — exchange at 
 9 ®|o premium ? 
 
 Rule. Multiply the sum to be invested by 100, and divide by 100 
 with the premium, annexing two ciphers to obtain cents; or, divide by 
 the amount which you give for $1. 
 
 100 $5000 
 9 • 100 
 
 109 ) 500000 ($4,587.15 ^»*. in dollars and cents. 
 
 i 
 
.j4 
 
 1. 
 
 t 
 
 9i 
 
 212 
 
 MERCANTILE CALCULATIONS. 
 
 Now change the $4,587.15 to sterling : Multiply by 9 and divide by 4w 
 
 $4587.15 
 9 
 
 40)41284.35 
 
 dG 1032, 11 Pounds and hundredtns. 
 20 
 
 dei032..2..2. Ans. 
 
 8. 2,20 Shillings and hundredths, 
 12 
 
 d. 2,40 Pence and hundredths. 
 
 Example 7. 
 
 Imported invoice of goods from Havre, amounting to 12,750 francs ; 
 for what amount shall I credit the shipper in dollars and cents ? 
 
 Rule. Multiply the francs by the par value of a franc — 18f cents. 
 
 Fr. 12,750 
 
 18| 
 
 102000 
 12750 
 
 2295.00 
 76.50 
 
 Fr. 12,750 
 3 
 
 5 )38250 
 76.50 
 
 $2,371.50 Ans, 
 
 Example 8. 
 
 Bought a bill of exchange on Havre for the amount of ihe above in- 
 voice (12,750 francs), 'exchange at fr. 5.30 ; what shall I pay for the bill, 
 in dollars and cents ? 
 
 Rule. Divide the amount of the bill by the number or francs and 
 hundredths allowed for $1, annexing ciphers to obtain cents. 
 
 5.30) 12,750.00,00 ($2,405.66 Ans. 
 
 Note. — Tt will be seen, by comparing this with the preceding ques- 
 tion, that when the exchange on France is at fr. 5.30, it is at a premium; 
 
 because— i2,750 francs, at fr. 5.30, make $2,405 66 
 
 12,750 " atpar(18f) " 2,371 50 
 
 Loss by exchange 34 16 
 
 Example 9. 
 
 Bought a bill of exchange on Paris, drawn for 14,062.73 francs — ex 
 
 change at fr. 5.32 per dollar ; what will it cost ? 
 
 (From transaction of April 30.) 
 
 Rule. Divide the amount of the bill by the amount of French money 
 
 allowed for $1, which, in this question, is ^^5^ fr. 
 
 5.32 ) 14,062.73.00 ( $2,643.58 Ans. 
 
 MERCANTILE CALCULATIONS. 213 
 
 Example 10. 
 
 I wish to invest $4,987.50 in a bill of exchange on Havana — exchange 
 at li per cent, discount ; what amount will the bill be drawn for, allow- 
 ing me } per cent, commission for buying the bill ? 
 
 (From transaction of April 30.) 
 
 Instruction. Divide the amount to be invested by the number of 
 cents allowed for $1 (98^ cts. are allowed for a dollar). If the exchange 
 be li o|o discount, for every 98^ cents we get a dollar in the bill. 
 
 But as we charge i per ct. commission, we add that to the 98 J, which 
 makes the divisor 98J. 
 
 .98.75 ) 4,987.50,00,00 ( $5,050.63 
 
 The bill will be drawn for $5,050 63— which, 
 
 At li per cent, discount 75 75 
 
 Will cost 4,974 88 
 
 Add our commission, at |- °|o 12 62 
 
 Making the sum we wished to invest 4,987 50 
 
 EQUATION OF PAYMENTS. 
 
 Equation of payments, or averaging, is a calculation to ascertain at 
 what date several sums, due at differeut dates, maybe paid in one payment, 
 so that neither payer nor receiver may gain or lose in time or interest. 
 
 An equation of payments is proved by a calculation of interest; for 
 the interest on the sums due before the average date, should equal the 
 interest on the sums due after. 
 
 The following examples, it is believed, embrace all the different cases 
 of averaging — beginning with the simplest. 
 
 Example 1. 
 Sold merchandise to Mr. Austin as follows ; when is the amount due 1 
 
 Ans. May 21. 
 
 May 6, bill of $50 00 
 
 " 9 " 75 00 
 
 " 15 ' 80 00 
 
 " 27 « 120 00 
 
 " 30 " 150 00 
 
 Rule 1. To find the average date of the preceding bills : Multiply 
 each sum hy the number of days from its date to the date of the first 
 sum, and divide the amount of the products hy the amount of the sums. 
 
 Thus — 
 
 $50 X = 
 
 75 X 3 = 225 
 
 80 X 9 = 720 
 
 120 X 21 = 2520 
 
 150 X 24 = 3600 
 
 475 -r- )7065(15daysafter May 6. 
 
 i 
 
 I 
 
 i 
 
1*1 '. 
 
 214 
 
 MERCANTILE CALCULATIONS. 
 
 If these sales to Mr. Austin were at 6 or 4 months* credit, the 4 months' 
 credit on the total would begin at May 21. 
 
 Example 2. 
 
 Sold merchandise to Mr. Harris as follows ; when is the total due t 
 
 Calculation. 
 May 10, bill of $40 00 x = 
 
 5 = 
 
 " lo 
 
 
 " 27 
 
 
 " 30 
 
 
 June 6 
 
 
 " 20 
 
 
 " 25 
 
 
 
 
 65 38 X 5 = 325 
 
 90 50 X 17 = 1,530 
 
 120 40 X 20 = 2,400 
 
 50 20 X 26 = 1,300 
 
 110 90 X 40 = 4,400 
 
 148 00 X 45 = 6,6(50 
 
 S25 38 
 
 625 ) 16,615 ( 26 ds. after 
 
 May 10. 
 
 The total falls due June 6, that being 26 days after May 10. BiU if 
 there had hcen a credit of i or Q months on these bills of goods, then the 
 credit would begin on June 6, and the amount be due 4 or 6 months after 
 that date. 
 
 Example 3. 
 
 Sold merchandise to Mr. Sims on the following dates and credits; 
 when will the amount be due ? 
 
 July 1, bill at 3 months, 
 
 <( 
 
 5 
 10 
 
 20 
 
 Aug. 10 
 
 " 20 
 
 Sept. 15 
 
 <( 
 
 It 
 
 a 
 
 (( 
 
 (< 
 
 << 
 
 <( 
 
 it 
 
 it 
 
 4 
 4 
 6 
 3 
 
 60 days, 
 90 
 
 It 
 
 It 
 
 it 
 
 it 
 
 500 
 500 
 1500 
 200 
 100 
 250 
 
 3450 
 
 Calculation. 
 
 X 94 = 37,600 
 
 X 128 = 64,000 
 
 X 133 = 66,500 
 
 X 203 =304,500 
 
 X 133 = 26,600 
 
 X 113 = 11,300 
 
 X 168 = 42,000 
 
 ^ 55 2,500 ( 160 ds. after 
 = == July 1. 
 
 This case differs materially from Examples 1 and 2, because the 
 sales are on different terms — one being at 4 months, another at 3 
 months, &c. 
 
 Rule. Multiply each sum by the number of days that it will be due, 
 counting from July 1 (the date of the first sum), and divide by the 
 amount of the original sums ; the quotient will be the number of days 
 after July 1, that the amount will be due. The multiplier (128) in the 
 above calculation is obtained thus : — 
 
 From July 1 to the 5th call 5 days. 
 
 4 months call - . , 120 
 
 Grace call 3 
 
 (< 
 
 «( 
 
 that the S500 has to run before due. 
 
 128 days from July 1, 
 
 MERCANTILE CALCULATIONS. 215 
 
 Example 4. 
 
 Calculation of averaging the account-sales rendered to Mr. Harris, 
 March 30, copied from page 189 : — 
 
 Terms. Calculation. 
 
 March 23 . ^ cash, $3,000 x = 
 
 " 26 60 days, 2,400 x 66 = 158.400 
 
 " 27 60 days, 500 X 67 = 33.500 
 
 " 27 cash, 700 X 4 = 2.800 
 
 • " 28 3 mos., 1,250 X 98 = 122.500 
 
 7,850 ^ 
 
 Less charges 235 
 
 Divide by net proceeds . 7,615 ~ ) 317.200 (41 days af- 
 
 ter March 23— equal to May 3. • 
 
 Rule. Multiply each sum by the number of days that it wants of be 
 mg due, countmg from the first date (March 23), and divide by the net 
 proceeds ; the quotient will be the number of days that the proceeds 
 will fall due after the date averaged from — March 23. 
 
 Example 5. 
 
 Calculation of averaging the account-sales rendered to Mr. De Nones 
 — copied on page 188 : — 
 
 __ Terms. Calculation. 
 
 March 3 cash, S 456 x = 
 
 " 4 60 days, 175 X 64 = 11.200 
 
 " 4 cash, 300 X 1 = .300 
 
 " 9 90 days, 150 X 99 = 14.850 
 
 " 10 cash, 1,233 x 7 = 8.631 
 
 " 10 4 month s, 2,000 xl30 =260.000 
 
 4,314 ^ 
 
 Less charges 783 ^ 
 
 Divide by net proceeds . 3,531 -^ ) 294.931 ( 84 days af- 
 ter March 3 — equal to May 25. 
 
 .Ti^'^'f •ox^''^^!P^y,^^^^ ^""^ ^y ^^^ number of days from the first date 
 (March 3) to the date when it will be due, and divide by the net pro- 
 ceeds ; the quotient will be the number of days after the first date 
 (March 3) that the net proceeds will be due. 
 
 Note.— Dividing by the net proceeds, as above, extends the time in 
 proportion to the charges which we consider due March 3— the date we 
 average from. But supposing the charges due much before or after 
 that date, we should then multiply them by the number before or after, 
 and add the product to, or deduct it from, the dividend to be divided by 
 the net proceeds. If the charges were due before the date we average 
 from (March 3), the said dividend should be increased ; if after, de- 
 creased. 
 
 If we divide by the total sales, we must put another item among the 
 Charges, viz. : interest on the amount of the charges from the date they 
 
 
216 
 
 MERCANTILE CALCULATIONS. 
 
 average due up to the time the total sales average due ; wrhich method 
 is not truly averaging the account, but averaging a part of it and char 
 ging interest on tlie rest. *» 
 
 Example 6. 
 
 When is the balance of the follovvinsr account due ? 
 
 Dr. 
 
 John Sims. 
 
 Cr. 
 
 1850. 
 
 June 
 
 To amount due us this 
 date 
 
 S700 00 
 
 700 00 
 
 ia5o. 
 May 
 
 By amount due him this 
 
 date 
 
 By Balance due Aug. 17 
 
 $500 
 200 
 
 700 
 
 00 
 00 
 
 00 
 
 Rir\E. [Always calculate from the date of the larger side, calling that 
 the debt and the other side the yayment on account of it.) Multiply the 
 sum of the smaller side by the number of days that intervene between 
 its date'and the date of the larger .side, and divide by the balance of the 
 account; the result will be the number of days before or after the date 
 of the larger side, that the balance will be due. 
 
 31 days from May 1 to June 1. 
 500 fiom credit side. 
 
 Balance. .200) 15,500(77 days after June 1 ; equal to Aug. 17. 
 
 For the reason that the $500 was paid 31 days before the debt was 
 due (June 1), the balance (200) does not become due until 77 days after 
 June 1. Or thus : If one pays $500, 31 days before it is due, how long 
 ought that to extend his credit on $200 ? 
 
 Ans. |gj of 31 days, which is 77 days. 
 
 9 
 
 Example 7. 
 
 When is the balance of the following account due ? 
 
 Dr. Cr. 
 
 1850. 
 
 Jan. 
 Feb. 
 Mar. 
 Apr. 
 
 15 
 20 
 30 
 20 
 
 To Merchandise, at 6 mos. 
 To " ate " 
 To « ate " 
 To « ate « 
 
 Amount due Sept. 2 ; . 
 
 S500 
 300 
 400 
 300 
 
 1500 
 
 00 
 00 
 
 oo; 
 
 OOi 
 
 7o\ 
 
 18.50. 
 
 Mar. 
 Apr. 
 June 
 
 10 
 
 30 
 
 1 
 
 Bv Cash 
 
 f200 
 300 
 500 
 
 1000 
 500 
 
 1500 
 
 00 
 
 Bv Cash 
 
 00 
 
 By Note due Aug. 1 . . 
 
 Amount due June 5 . . 
 Bala7ice due Feb.^7\ 51 
 
 00 
 
 00 
 00 
 
 00 
 
 Average each side of the account separately (as shown in example 2), 
 to find when the total of each is due; the account will then be in situ- 
 ation of example 6. 
 
 MERCANTILE CALCULATIONS. 
 
 217 
 
 Rule. Multiply the amount of the smaller side by the number of days 
 that intervene between the day on which it is due and the day on which 
 the larger side is due, and divide the product by the balance of the ac- 
 count ; the qu«tient will be the number of days that the balance will be 
 due cfter or be/ore the date of the larger side. 
 
 89 days fr.^m June 5 to Sept. 2. 
 1,000 amount of credit side. 
 
 Balance . . 500 ) 89,000 ( 178 days after Sept. 2 ; equal to Feb. 27. 
 
 The amount of the debtor side is due Sept. 2 ; the $1,000 on the 
 credit side was paid on account of the $1,500, 89 days before it was due; 
 therefore the balance of $500 will fall due 179 days after Sept. 2. Or, 
 if $1,000 is paid 89 days before the debt was due, how long ought that 
 to extend the credit on the $500 still owing ? 
 
 ^«*- ¥oV (or V) ^^ 89 days— equal to 178 days 
 
 Example 8. 
 When is the balance of the following account due ? 
 Dr. Paul Harris. 
 
 Cr. 
 
 1850. 
 
 Jan. 
 Mar. 
 
 Apr. 
 
 8 
 20 
 
 30 
 
 To Mdse. due March 12 . 
 
 To Cash 
 
 Ans. 
 
 To Balance due Apl. 22, 
 1850 
 
 
 
 1850. 
 
 
 t325 
 
 00 
 
 Jan. 
 
 22 
 
 2000 
 
 00 
 
 Mar. 
 
 18 
 
 
 
 « 
 
 21 
 
 
 
 « 
 
 30 
 
 4994 
 
 87 
 
 
 
 7319 
 
 87 
 
 
 — 
 
 
 By Note due March 12 . 
 
 By Cash 
 
 By Merchandise 
 
 By. net proceeds due 
 Ma^ 3 
 
 #325 
 2000 
 1187 
 
 3807 
 
 7319 
 
 00 
 00 
 50 
 
 37 
 
 87 
 
 Average, separately, both sides of the account, in manner of Exam- 
 ple 5. The debtor side ($2,325) will be due March 19 ; the credit side 
 ($7,319) will be due April 11. Thus, then, we owe Mr. Harris $7,319, 
 due April 11 ; on which we have paid him $2,325, due March 19 — leav 
 ing a balance in his favor of $4,994. Now, as we paid him $2,325 
 23 days before what we owed him was ducj it follows that our credit on 
 the balance should be extended in proportion as the amount paid is to 
 the balance owed; that is — ||U of 23 days after April 11= Apl. 22. 
 
 PROFITS AND LOSSES. 
 Example 1. 
 
 Bought an article for $5, and sold it for $6 ; at what rate per cent, 
 was the gain ? 
 
 Rule. Multiply the gain or loss by 100, and divide the product by 
 the cost. 
 
 28 
 
 1 
 
218 MERCANTILE CALCULATIONS. 
 
 Gain $1 
 
 100 
 
 Cost 5) 100 (20 percent. Ans, 
 
 10 
 
 Example 2. 
 
 Bought 50 chests tea for $4,725, and sold the same for S4,866.75 • at 
 what rate per cent, was the p-nin ? ^ ' 
 
 ^ X.X.IIV. waa ixio ^din i (Prom transaction of ApL Z i 
 
 Sold for $4,866.75 
 
 Cost 4,72 5.00 ^ 
 
 Gain 141.75 / 
 
 100 
 
 4,725.00) 14175.00(3 per cent, ^jjin^ Ant. 
 
 Example 3. ^ 
 
 Sales of merchandise the last four months amount to $24,619; the 
 cost $21,056 ; what per cent, is the profit ? 
 
 Sales $24,619 •• 
 
 Cost 21,056 • 
 
 Gain 3,563 
 
 100 
 
 21,056)3563.00(16.92 
 
 Ans. Sixteen and ^^^ per cent. 
 
 Example 4. 
 
 Sales of merchandise this year amount to $55,660; supposing the 
 profits average 12 per cent., how much is the gain ? 
 
 Rule. Multiply the amount of sales by 100, and divide the product 
 oy 100 with the rate per cent, added ; the quotient will be the cost 
 which deducted from the sales will give the gain. 
 
 $55,660 
 
 100 $55,660.00 sales. 
 
 112)55,66000 ( 49,696.43 cost. 
 
 ivV v i ' ^ 
 
 - 5.963.57 gain. 
 
 feci 
 
 ^ii 'si 
 
COLUMBIA UNIVERSITY LIBRARIES 
 
 0044258038 
 
 Al^H Oli^ll 
 
 MAY 3 3i994 
 
 m 4 1925 
 
END OF 
 TITLE