tt^iEess 
 
 LIBRARY 
 
 OF THE 
 
 University of California. 
 
 GIFT OF 
 
 Ibe 
 
 Bby 
 ner, 
 
 Mr^. James L-deFreherv 
 
 Class 
 
 as to give no onense lo any person, nor xo pieBeni an nnpui>mesB-iiKo uppearance. 
 
 4, To proceed quietly and promptly to his seat, place his hat in its itroper place, and 
 pursue his ^vork. 
 
 P. To be polite, neat, orderly, quiet, prompt, energetic and Bystematic in all things and 
 at all times. 
 
 G. To give his undivided attention to Boll<call, and during Its entire time refrain from 
 doing anything else. 
 
 7. To hold no communication with any student at any time, or in any place in the Col- 
 lege Kooms, without first obtaining the consent of a teacher. 
 
 8. To refrain from stopping at the entrance to the College Building, or on the sidewalk 
 on Post Street^^uywhere between Kearny and Montgomery Streets, when going to or from 
 School. 
 
 9. To bring a written note of excuse from parent or guardian for all tardiness or absence 
 as explained in the instructions to students. 
 
 10. To bring a written request from parent or guardian, if obliged to leave before the 
 close of any scliool session. 
 
 11. To present a written notice from parent or guardian, in advance, for all intended 
 absence from school. 
 
 12. Not to leave his seat without first obtaining written permission from a teacher, except 
 tu go into a class or speak to a teacher. 
 
 l.-i. To keep in good order the desk, seat and drawer appropriated to his use, and to put 
 all waste paper into tho basket proviUed for that purpose. 
 
 14. To abstain from smoking, or from tho use of tobacco in any form while in or about 
 the College Building. 
 
 15. To engage only in bis regular studies, except b.7 special permission, and do nothing 
 to interfere with a feliow-btudent in any way, or in any manner idle away his own time. 
 
 IG. To call only on his teachers for instruction, and not to copy, or borrow for exam- 
 ination, the work or exercises of any other pupil. 
 
 17. To show in every action and movement that he is determined to acquire every neces- 
 sary qualification for a firBt-class, honest and industrious business man. 
 
 18. To observe all oral or written regulations, (not herein specified) made by the pro- 
 prietors or teachers, Irom time to time, for securing good order and rapid advancement. 
 
 ©:©F©RTMBWT BOOK. 
 
 A Deportment Book w 11 be kept, in which the names of pupils neglecting to perform 
 any of their Duties will be recorded, stating the facts in the case, which will be open to the 
 inspection of parents, guardian and visitors; and upon four entries being recorded against 
 tho same student ho will bo reported to his parents or guar 'ian, if accountable to either, if 
 not, ho will bo required to give some guarantee of a faithful attendance to his duties in tJie 
 future, or bo required to withdraw from the school. 
 
L-,U-. ^^\\\ A'rr.'b ^ :^OQC?fS' 
 
 THEORETICAL 
 
 AND 
 
 PRACTICAL 
 
 BOOK-KEEPING, 
 
 BY 
 
 DOUBLE AND SINGLE ENTRY, 
 
 FOR USE IN 
 
 Business Colleges, 
 
 COMMON SCHOOLS, HIGH SCHOOLS AND ACADEMIES, AND 
 
 FOR SELF-INSTRUCTION. 
 
 
 SI3£:TIETI3: TI3:OTTS-A.lSr3D_ I^EIVISEIID- 
 
 1887. 
 
V- ^^ 
 
 Entered according to Act of Congress, in the year ISifi, 
 
 By WILLIAMS & EOGEES, 
 
 In the office of the Librarian of Congress, at Washington, B.C. 
 
 E. E. Andrews, Printer and Boolsbinder, Itorhoster, N. V, 
 
 # 
 
 
PREFACE. 
 
 WE do not claim that we have eumiciatecl any new principles in the course of stndy in the science and practice 
 of book-keeping contained in this work. We do claim, however, that we have arranged those already 
 established in such a manner, and accompanied that arrangement with such clear and complete explana- 
 tions, as will insure the pupil a knowledge of the subject, practically independent of the instructor. 
 
 While we have studiously avoided imnecessary thedrizing, we have endeavored to give a competent reason for 
 every step to be taken, believing that the pupil, if he have the ability to master the subject under any circum- 
 stances, will be able to secure, from the reasons and illustrations siven, a thorough knowledge of the science of 
 accounts. 
 
 We desire that the student's mind shall be constantly directed to the matter m hand — that of learning practical 
 book-keeping — and not become confused by abstruse theories that can be oi no possible use to him in pursuing 
 the course of study, nor of the least value to him in after life. 
 
 The claim of this work to superiority over all other publications of its character is based, particvilarly, upon 
 
 the manner in which the transactions selected as a basis of the student's work have been graded, the fullness of 
 
 explanation of every step to be taken, the placing of such explanations in immediate proximity to the transactions, 
 
 the system of references to the illustrations adopted, the encouragement to progress in penmanship afforded by 
 
 the engraved pages, the ability of the pupil to rely upon himself, and the material lessening of the labor of the 
 
 teacher. 
 
 THE AUTHOES. 
 
 235965 
 
DOUBLE ENTRY BOOK-KEEPING. 
 
 • Book-keeping is a record of business transactions. ' The object of such record is to enable the 
 proprietor to determine, at any time, the true condition of the business. 
 
 ' There are two metliods of book-keeping in general use, * termed Single Entry and Double Entry. 
 The following explanations refer to the Double Entry method. 
 
 * The principal books used are the Day Book, Journal and Ledger. 
 
 ' The Day Book, or Blotter as it is sometimes called, contains a statement of the business transac- 
 tions in detail. ' The record should be made as soon as the transaction takes place, ' to guard against 
 errors which might be occasioned by delay in making the entry. 
 
 'The Journal contains the Debits and Credits, taken from the Day Book, and arranged in a form 
 convenient for transferring to the Ledger. '" Deciding upon and arranging the debits and credits in 
 the Journal is called Journalizing. " In every journal entry the debits and^ credits must be equal. 
 " The Day Book and Journal may be combined, " by writing the particulars regarding the transactions 
 in the Journal, in connection with the journal entry. 
 
 " The Ledger contains the final results, '* which are exhibited by collecting all debits and credits 
 having the same name under one heading. "Such a collection of debits and credits is called an 
 Account. "An account has two sides, "the left side being called the Debit and "the right side the 
 Credit. ^ Transferring the debits and credits from the Journal to the Ledger is called Posting. 
 
 "The terms Debit or Debtor, and Credit or Creditor, may be abbreviated: as, Dr. anfl Cr. 
 
 Other books, as the Cash Book, Bill Book, Order Book, Invoice Book, Sales Book, etc., will be 
 explained hereafter. 
 
 " In Double Entry book-keeping there are three kinds of accounts aside from an account with the 
 Proprietor: accounts with Persons, accounts with Property, and accounts representing Allowances 
 made by ns, or to us, for Interest, Discount, Exchange, Premium, Storage, Commission, Exjjenses, 
 etc., by which we sustain Losses or realize Gains. 
 
 Note.— While it will be necessary, in due time, for the Student to become thoroughly familiar with the principles 
 involved in the rules given on the following pages, he can do so much more easily and quickly, and with a better 
 understanding of their application, if he learn them as he has occasion to apply them, than he can by committing 
 them to memory in advance. 
 
 The Student, therefore, after reading carefully the following rules, examples and explanations, may proceed with 
 the work upon his books, as instructed in the foot notes from page to page. Each step is go carefully explained, and 
 'ie references so fully given, that he sliould have little difficulty in performing the work correctly and understandingly. 
 
 The debits and credits in any business transaction may be determined by tlie following 
 
TJIKOKKTIOAL AND PliACTIOAL BOOK-KKEPIKO. 
 
 GENERAL RULES FOR JOURNALIZING. 
 " Pkrsoxs are Debited, 
 • "Wlieii they get into our debt, and 
 ' When we get out of tlieir debt. 
 
 "Property is Debited, 
 Under an appropriate title, as Mdsc, Real Estate, 
 Cash, etc., wheii it comes into our i)ossession. 
 
 "Allom'ances are Debited, 
 Under api)ropriate titles, as Interest, Exchange, 
 Commission, etc., when made by us. 
 
 The ;hree kinds of accounts mentioned above are divided into "two general classes, one class 
 showing Gains and Losses, and the other Resources and Liabilities. 
 
 " Persox.s are Credited, 
 •When we get into their debt, and 
 ' When they get out of our debt. 
 
 * Property is Credited, 
 Under its appropriate title, when it goes out of 
 our possession. 
 
 ''Allowakces are Credited, 
 Under their appropriate titles, when nuide to us. 
 
 "^ Losses. 
 An account exhibits a Loss, if the thing it rep- 
 resents has cost us more than it has produced. 
 
 " Resources. 
 An account exhibits a Resource, if it represents 
 property on hand, or a debt owing to us. 
 
 " Gains. 
 An account exhibits a Gain, if the thing it rep- 
 resents has produced us more than it has cost. 
 
 '' Liabilities. 
 An account exhibits a Liability, if it represents 
 a debt owing by us. 
 
 " The excess in an account showing either a Resource or a Loss will be on the debit side, and " the 
 excess in an account showing either a Liability or a Gain will be on the credit side. 
 
 SPECIAL RULES FOR JOURNALIZING. 
 
 The following additional rules, definitions and explanations are given to supplement and empha- 
 size the foregoing general rules, as a further aid to the student in llie work of journalizing. 
 
 THE PROPRIETOR. 
 
 Dr. 
 
 "The Proprietor is debited for his liabilities 
 assumed by the business, for all amounts drawn 
 by liim from the business for his private use, and 
 for his net loss. 
 
 Cr 
 
 " The Proprietor is credited for the amount of 
 his investment on commencing business, for all. 
 .subsequent investments, and for his net gain. 
 
 "The title "Stock" is sometimes used in place of the proprietor's name. The explanation for a 
 co-partnership will be givci- ^lereaftcr. 
 
 CASH. 
 
 Dr. 
 
 ' Cash is debited when it is received. 
 
 Cr. 
 
 ' Cash is credited when it is paid out. 
 
 "Under the title "Cash" we include Currency, Bank Checks, Postal Orders, Sight Drafts, and 
 usually all kinds of paper payable on demand. " The Dr. side of cash account will always be greater, 
 when there is any difference, "because we cannot i)ay out more than we have received, "and the 
 difference will show the cash on hand, '^ which difference is a Resource. " When all the cash has been 
 paid out, the account will balance. 
 
 MERCHANDISE 
 Dr. j Cr. 
 
 "Mdsc. is d('bited for its cost, wlion bought. | *'Mdsc. is (•r('(lii;cd for its i)roceo(ls, wlicn sold. 
 
 "Under the title "Mdse." we generally include all goods the proprietor is dealing in as a business. 
 "Sometimes, however, for the purpose of exhibiting results in detail, separate accounts are opened, 
 as "Flour," "Pork," "Beef," etc., instead of including all under the general heading "Mdse." 
 " Since tlie Dr. side of Mdse. account shows the cost of tlie goods, and the ^'r jide tlie jiroceeds, the 
 
THEOKKTIOAL AND PRACTICAL HOOK-KKEPINO. < 
 
 difEerence will show the gum or loss, providing tlie goods luivo all been sold. "If there is an Inventory 
 (goods unsold), its value must first be added to the proceeds from sales, and the difference will then 
 show the gain or loss. ^ The above rule and explanations will also apply to other property, as Keal 
 Estate (houses and lands), Bank Stock, Railroad Stock, etc., excepting that an account should be 
 opened with each, under its api)r()priate title. 
 
 EXPENSE. 
 
 Dr. 
 
 " Expense is debited with any outlay for carry- 
 ing on the business. 
 
 Or. 
 
 '* Expense is credited when anything of value 
 is disposed of, which was previously debited to 
 Expense. 
 
 "Under the title "Expense" we generally include such items as Rent, Salaries, Office Books, 
 Office Furniture, Fuel, Light, etc. "If, as in the case of Mdse., it is desired to show results in detail, 
 separate accounts may be opened with "Rent," "Salaries," "Office Furniture," etc., instead of 
 including aU these items under the general heading "Expense." "* Expense account usually shows 
 a loss. 
 
 BILLS RECEIVABLE. 
 Dr. Cr. 
 
 " Bills Receivable is debited for the written 
 promises to pay, of other parties, when received. 
 
 *" Bills Receivable is credited for the written 
 promises to pay, of other parties, when paid or 
 otherwise disposed of. 
 
 " Under the title " Bills Receivable " we include, generally. Notes and Time Drafts. "'The Dr. 
 side of the account will always be larger, when there is any difference, " because we cannot dispose of 
 a greater amount than we have received. "The difference in the account will show the Bills Receiv- 
 able on hand, ** which difference is a Resource. * The account will balance when the Bills Receivable 
 have all been disposed of, because such bills are always debited and credited at their face value. 
 
 BILLS PAYABLE. 
 
 Dr. 
 
 " Bills Payable is debited for our written prom- 
 ises to pay, when redeemed (that is paid). 
 
 Cr. 
 
 •* Bills Payable is credited for our written prom- 
 ises to pay, when issued (that is given). 
 
 •^ Under the title " Bills Payable " we include, generally, Notes and Accepted Time Drafts. ™ The 
 Cr. side of the account will always be larger, when there is any difference, " because we cannot redeem 
 a greater amount than we have issued. " The difference in the account will show the Bills Payable 
 outstanding, "which difference is a Liability. "The account will balance when all the Bills Payable 
 have been redeemed, because such bills are always debited and credited at their face value. 
 
 INTEREST AND DISCOUNT. 
 
 Dr. 
 
 " Interest and Discount are debited when allowed 
 to others. 
 
 Cr. 
 
 " Interest and Discount are credited when al- 
 lowed to us. 
 
 " Interest is the compensation allowed for the use of money. 
 
 " Discount is the allowance made for the payment of a debt before it is due. 
 
 "When the Dr. side of Interest and Discount account is the greater, the difference shows a loss; 
 when the Cr. side is greater, the difference shows a gain. *• The above rule will apply also to such 
 accounts as Exchange, Premium, Collection, Storage, Commission, etc. 
 
 Additional rules and explanations will be given when required, in connection with the work to be 
 performed. 
 
 EXAMPLES IN JOURNALIZING. 
 
 Note.— The following twenty-nine Examples, representing a series of business transactions, are designed to illus- 
 trate the application of the principles embodied in the foregoing General and Special Rules, and to serve as references 
 to aid the student in the work of journalizing. These examples are not to be written up by the student, but should be 
 carefully studied as follows: He should first read the Day Book Record for the transaction, then observe how it is 
 Journalized, and also study the explanations which follow, consulting the rules to which references are made. After 
 reading all of the examples, the student may commence the work upon his books, as instructed in note on page 13. 
 
THEORETICAL AND PRACTICAL SOOK-KEEpING. 
 EXAMPLE No. 1. 
 
 DAT BOOK KECOED. 
 
 rriEHg. TOTAIi. 
 
 JOURNAL ENTRY FOR SAME. 
 
 DR. 
 
 J. T. Smith commenced 
 business this day, and 
 invested Cash, 
 
 5000 
 
 Cash, Dr. 
 
 To J. T. Smith, Cr. 
 
 5000 
 
 5000 
 
 Why is Cash Dr. in above journal entry? Because Cash is received (see 39, page 6). 
 Why is J. T. Smith Cr. ? Because the proprietor should have credit for his investment (see 37, 
 page 6). 
 
 EXAMPLE No. 2. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SA-ME. 
 
 J. T. Smith owes C. B. 
 Hall, on account, which 
 is to be paid from the 
 biisiness. 
 
 500 
 
 J. T. Smith, Dr. 
 
 To C. B. Hall. Cr. 
 
 500 
 
 500 
 
 Why is Smith Dr. ? Because the proprietor is Dr. for liabilities assumed by the business (see 30, 
 page 6). 
 
 Why is Hall Cr. ? Because the proprietor is in his debt (see 24, page 6). 
 
 EXAMPLE No. 3. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Bought of J. E. Morse, 
 
 for Cash, 
 200 bbls. Flour, at 6.00, 
 
 1200 
 
 Mdse., Dr. 
 
 To Cash, Cr. 
 
 1200 
 
 1200 
 
 Why is Mdse. Dr. ? Because it is bought (see 47, page 6). Why is Cash Cr. ? Because it is paid 
 out (see 40, page 6). 
 
 EXAMPLE No. 4. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Sold Geo. Andrews, for 
 
 Cash, 
 50 bbls. Floui-, at 6.75, 
 
 337 
 
 50 
 
 Cash, Dr. 
 
 To Mdse., Cr. 
 
 33^ 
 
 50 
 
 337 
 
 50 
 
 Why is Cash Dr. ? Because it is received (see 39, page 6). Why is Mdse. Cr. ? Because it is 
 sold (see 48, page 6). 
 
 EXAMPLE No. 5. 
 
 DAT BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Bought of E. N. French, 
 
 on account, 
 100 bbls. Beef, at 14.50, 
 
 1450 
 
 Mdse., Dr. 
 
 To E. N. French, Cr. 
 
 1450 
 
 1450 
 
 Mdse. is Dr. because it is bought (see 47, page 6). Why is E. N. French Cr. ? Because we have 
 bought property of him on account ("on account" means that we do not pay him for it at time of 
 purchase), and we therefore get into his debt (see 24, page 6). 
 
 EXAMPLE No. 6. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Sold Reed & Mills, on 
 
 account, 
 50 bbls. Flour, at 7.00, 
 50 " Beef, 16.00, 
 
 350 
 800 
 
 1150 
 
 Reed & Mills, Dr. 
 
 To Mdse., Cr. 
 
 1150 
 
 1150 
 
 Why are Reed & Mills Dr. ? Because they have bought property of us on account (that is, they 
 do not pay us for it at the time of purchase), and therefore get into our debt (see 23, page 6). Why 
 is Mdse. Cr.? Because it is sold (see 48, page C). Since Flour and Beef were both journalized as 
 Mdse. when bought, we now credit Mdse. tw one amount for the sale. 
 
MEOBteTtCAL AND t-RACTlCAt BOOK-liEEPIK(i. 
 
 EXAMPLE No. 7. 
 
 DAT BOOK RECORD. 
 
 JOURNAL KNTRY FOR SAME. 
 
 I>B. 
 
 Paid rent of store in 
 Ciisb, 
 
 50 
 
 Expense, Dr. 
 
 To Cash, Cr. 
 
 50 
 
 50 
 
 Why is Expense Dr.? Because rent is an item of cost in carrying on the business (see 54, page 7). 
 Cash is Cr. because it is paid out (40, page 6). 
 
 EXAMPLE No, 8, 
 
 DAY BOOK RECORD. 
 
 .TOURNAL ENTRY FOR SAME. 
 
 Paid E. N. French, cash 
 to apply on account, 
 
 450 
 
 E. N. French, Dr. 
 
 To Cash, Cr. 
 
 450 
 
 450 
 
 Why is E. N. French Dr. ? Because we get out of his debt, to the extent of $450 (see 23, page 6). 
 Since we gave him Cr. Jan. 5 (see Ex. No. 5) for $1450, we must now make him Di-. $450, the amount 
 we pay him, in order that his account may show the exact amount we still owe him. Cash is Cr. 
 because it is paid out (40, page 6). 
 
 EXAMPLE No. 9. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Eeceived cash of Eeed 
 & Mills, to apply on 
 account, 
 
 200 
 
 Cash, Dr. 
 
 To Reed & Mills, Cr. 
 
 200 
 
 200 
 
 Cash is Dr. because it is received (39, page 0). Reed & Mills are Cr. because they get out of our 
 debt to the extent of $300 (24, page 6). Since we made them Dr. (see Ex. No. 6) for $1150, we must 
 now give them Cr. $300, in order that their account may show the exact amount they still owe us. 
 
 EXAMPLE No. 10. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Bought of E. D. Harris, 
 J00bbls.Pork,atl3.00, 
 
 Gave my note at 10 days 
 in payment. 
 
 
 
 1200 
 
 
 
 
 Mdse., Dr. 
 
 To Bills Pay., Cr. 
 
 1200 
 
 1200 
 
 Mdse. is Dr. because it is bought (47, page 6). Bills Payable is Cr. because our written promise 
 to pay has been issued (see 68, page 7). 
 
 EXAMPLE No. 11. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Received of Reed & Mills, 
 their note at ten days, 
 to apply on account, 
 
 
 
 600 
 
 
 
 
 Bills Eec'v, Dr. 
 
 To Reed & Mills, Cr. 
 
 GOO 
 
 600 
 
 Bills Receivable is Dr. because the written promise of another party has been received (59, page 
 7'. Reed & Mills are Cr. because they get out of our debt to the extent of $600, our claim for that 
 sum now being in the form of Bills Receivable (24, page 6). 
 
 EXAMPLE No. 12. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Gave E. N. French my 
 note at ten days, with 
 interest, to apply on 
 account. 
 
 500 
 
 E. N. French, Dr. 
 
 To Bills Pay., Cr. 
 
 500 
 
 500 
 
 E. N. French is Dr. because we get out of his debt to the extent of $500 (23, page 6), our liability 
 now being in the foriii of Bills Payable for that amount. Bills Payable is Cr. because our written 
 promise to pay has been issued (68, page 7). 
 
10 
 
 THEORETICAL ANT) PRACTICAL BOOK-KEEPING. 
 EXAMPLE No. 13. 
 
 DAY BOOK RECORD. 
 
 ITEMS. TOTAL. 
 
 .lOURNAL EKTKY EOK SAME. • 
 
 DR. 
 
 Sold Chas. Hamlin, 
 50 bbls. Flour, at 7.00, 
 50 " Pork, 14.00, 
 
 Rec'd payment by his 
 note at ten days, with 
 interest, 
 
 350 
 
 700 
 
 1050! 
 
 Bills Eec'v, Dr. 
 
 To Mdse., Cr. 
 
 1050 
 
 1050 
 
 Bills Receivable is Dr. because the written promise of another party is received (59, page 7). Mdse. 
 is Cr. because it is sold (48, page 6). 
 
 EXAMPLE No. 14. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Sold F. E. Clark, 
 
 25 bbls. Beef, at 16.00, 
 Rec'd in payment. Cash, 
 Balance on account. 
 
 
 
 400 
 
 
 1^ 
 
 
 150 
 250 
 
 
 
 
 
 
 Cash, Dr. 
 
 F. E. Clark, Dr 
 
 To Mdse., Cr. 
 
 150 
 250 
 
 ' 
 
 400 
 
 Cash is Dr. because received (39, page 6). F. E. Clark is Dr. because he gets into our debt (23, 
 page 6). Mdse. is Cr. because sold (48, page 6). The above form is equivalent to making Clark Dr. 
 400 and Mdse. Cr. 400 in one entry, and then making a second entry, Cash Dr. 150, Clark Cr. 150. 
 The above form saves one entry. 
 
 EXAMPLE No. 15 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Bought of Milo Sage, 
 
 SOObbls. Flour, at 6.50, 
 Paid him Cash, 
 Balance on account, 
 
 950 
 1000 
 
 1950 
 
 OS 
 C o 
 
 Mdse., Dr. 
 
 To Cash, Cr. 
 " M. Sage, Cr. 
 
 1950 
 
 950 
 1000 
 
 Mdse. is Dr. because bought (47, page 6). Cash is Cr. because paid out (40, page 6). Sage is Cr. be- 
 cause we get into his debt (24, page 6). This form saves one entry, as explained in the preceding example. 
 
 EXAMPLE No. 16. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Bought of 0. F. Wilson, 
 House and Lot, for 
 Cash, 
 
 
 
 1500 
 
 
 
 
 Real Estate, Dr. 
 
 To Cash, Cr. 
 
 1500 
 
 i 
 
 1500 
 
 Real Estate is Dr. because bought (see 53, page 7). Cash is Cr. because paid out (40, page 6). 
 
 EXAMPLE No, 17. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Bought of W. E. Holt, 
 200 bbls. Beef, at 16.00, 
 
 Paid him Cash, 
 
 My note at 15 days for 
 balance. 
 
 600 
 2000 
 
 
 2600 
 
 
 
 
 Mdse., Dr. 
 
 To Cash, Cr. 
 " Bills Pay., Cr. 
 
 2600 
 
 600 
 2000 
 
 Mdse. is Dr. because bought (47, page 6). Cash is Cr. because paid out (40, page 6). Bills Payable 
 is Cr. because we issue our written promise to pay (68, page 7). 
 
 EXAMPLE No. 18, 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Bought Safe for Office, 
 and paid for same in 
 Cash, 
 
 
 
 200 
 
 
 
 1 
 
 Expense, Dr. 
 
 To Cash, Or. 
 
 200 
 
 200 
 
 Expense is Dr. because the Safe is an item of cost in carrying on the business (54, page 7). Cash 
 is Cr. because paid out (40, page 6). 
 
 Note. — In cases like the above, where part payment is made at the time of purchase, the transactions may, if desired, 
 be journalized as follows: debit or credit the person, as the case may be, with Ihe/uU amount in one entry, and in another 
 entry credit or debit him with the payment. 
 
THEORETICAL AND PRACTICAL BOOK KEEPING. 
 
 n 
 
 EXAMPLE No. 19. 
 
 DAT BOOK RECORD. 
 
 Sold A. D. Larkin, 
 
 50 bbls. Flour, at 7.50, 
 
 25 " Beef, 16.00, 
 
 Rec'd in payment. Cash, 
 
 His note at two months 
 
 for balance, 
 
 ITEMS. 
 
 TOTAL. 
 
 
 
 375 
 400 
 275 
 
 
 775 
 
 
 
 
 500 
 
 
 
 
 
 
 JOURNAL ENTRY FOR SAME. 
 
 DB. 
 
 Cash, Dr. 
 Bills Rec'v, Dr. 
 
 To Mdse., Cr. 
 
 275 
 500 
 
 775 
 
 Cash is Dr. because received (30, page 6). Bills Receivable is Dr. because received (59, page 7). 
 Mdse. is Cr. because sold (48, page 6). 
 
 EXAMPLE No. 20. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOR SAME. 
 
 J. T. Smith drew cash 
 from the business for 
 private use. 
 
 350 
 
 J. T. Smith, Dr. 
 
 To Cash, Cr. 
 
 350 
 
 
 350 
 
 Smith is Dr. because he is the proprietor and draws this money for private use (36, page 6). Cash 
 is Cr. because paid out (40, page 6). 
 
 EXAMPLE No. 21. 
 
 DAY BOOK RF.CORD. 
 
 JOURNAL ENTRY FOB SAME. 
 
 Rec'd of F. E. Clark, to 
 
 balance account. 
 Cash, 
 His note at 45 days for 
 
 100 
 150 
 
 
 250 
 
 
 
 
 Cash, Dr. 
 Bills Rec'v, Dr. 
 
 To F. E. Clark, Cr. 
 
 100 
 150 
 
 250 
 
 Cash is Dr. because received (39, page 6). Bills Receivable is Dr. because received (59, page 7). 
 Clark is Cr. because he gets out af our debt (24, page 6). 
 
 EXAMPLE No. 22. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Paid M. Sage, to apply 
 on account. Cash, 
 
 My note at 30 days, with 
 interest. 
 
 250 
 500 
 
 
 750 
 
 
 
 
 M. Sage, Dr. 
 
 To Cash, Cr. 
 " Bills Pay., Cr. 
 
 750 
 
 250 
 500 
 
 Sage is Dr. because we get out of his debt, in part (^3, page 6). Cash is Cr. because paid out (40, 
 page 6). Bills Payable is Cr. because we issue our written promise to pay (68, page 7). 
 
 EXAMPLE No. 23. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Paid my note of the 10th 
 inst., in favor of E. D. 
 Harris, in Cash', 
 
 1200 
 
 Bills Pay., Dr. 
 
 To Cash, Cr. 
 
 1200 
 
 1200 
 
 Bills Payable is Dr. because our written promise to pay is redeemed (07, page 7). Cash is Cr. 
 because paid out (40, page 6). 
 
 EXAMPLE No. 24. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Rec'd Cash of Reed & 
 Mills, for their note of 
 11th inst., due to-day. 
 
 600 
 
 Cash, Dr. 
 
 To Bills Rec'v, Cr. 
 
 600 
 
 600 
 
 Cash is Dr. because re^ceived (39, page 6). Biils Receivable is Cr. because the written promise to 
 pay of another is disposed of (60, page 7). 
 
THEORETICAL AND PRACTICAL »OOK KEEWNG. 
 
 EXAMPLE No. 25. 
 
 DAY BOOK RECORD. 
 
 ITEM.'!. 
 
 TOTAL. 
 
 
 
 
 
 501 
 
 OS 
 
 
 
 500 
 
 
 
 
 
 
 1 
 
 08 
 
 
 
 
 
 JOURNAL ENTRY FOR SAME. 
 
 DR. 
 
 Paid my note of 12th inst. 
 in favor of French, due 
 to-day, with interest, 
 in Casli, 
 
 Face of note, 
 
 Interest to date, 13 days, 
 
 Bills Pay., Dr. 
 Interest, Dr. 
 
 To Cash, Cr. 
 
 500 
 1 
 
 08 
 
 501 
 
 08 
 
 Bills Payable is Dr. because our written promise is redeemed (G7, page 7). Interest is Dr. because 
 it is allowed to others (75, page 7). Cash is Cr. because paid out (40, page 6). 
 
 EXAMPLE No. 26. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Kec'd cash of Chas. Ham- 
 lin, for his note of 13th 
 inst., due to-day, with 
 interest. 
 
 Face of note. 
 
 Interest to date, 13 days. 
 
 
 
 1052 
 
 28 
 
 
 
 1050 
 
 
 
 
 
 
 2 
 
 28 
 
 
 
 
 
 Cash, Dr. 
 
 To Bills Rec'v, Cr. 
 " Interest, Cr. 
 
 1052 
 
 1050 
 2 
 
 28 
 
 Cash is Dr. because received (39, page 6). Bill Receivable is Cr. because disposed of (60, page 7). 
 Interest is Cr. because it is allowed to us (76, page 7). 
 
 EXAMPLE No. 27. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ilNTRY FOR SAME. 
 
 Prepaid my note of 17th 
 inst., in favor of W. E. 
 Holt, 
 Discount off. 8 days. 
 Paid balance in Cash, 
 
 2 67 
 199733 
 
 2000 
 
 Bills Pay., Dr. 
 
 To Discount, Cr. 
 " Cash, Cr. 
 
 2000 
 
 2 
 1997 
 
 67 
 33 
 
 Bills Payable is Dr. because our written promise has been redeemed (07, page 7). Discount is Cr. 
 because it is allowed to us (76, page 7). Cash is Cr. because paid out (40, page 6). 
 
 EXAMPLE No. 28. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 A. D. Larkin prepaid his 
 note of 19th inst.. 
 
 Discount off, 1 mo. 22 
 days, 
 
 Rec'd balance in Cash, 
 
 4 
 495 
 
 500 
 
 Discount. Dr. 
 Cash. Dr. 
 
 To Bills Rec'v, Cr. 
 
 i 
 
 4 
 
 33 
 
 
 495 
 
 67 
 
 500 
 
 Discount is Dr. because it is allowed to others (75, page 7). Cash is Dr. because received (39, 
 page 6). Bills Receivable is Cr. because the written promise to pay of another party is disposed of 
 (60, page 7). 
 
 EXAMPLE No. 29. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Paid Clerks' Salaries to 
 date, in Cash, 
 
 100 
 
 Expense, Dr. 
 
 To Cash, Cr. 
 
 100 
 
 100 
 
 Expense is Dr. because Salaries is an item of cost in carrying on the business (54, page 7). Cash 
 is Cr. because paid out (40, page 6). 
 
 Note to Stvdent. — Having carefully read the preceding pages, you miiy now begin the work upon your book.s. 
 First copy into your Day Book tlie busincs.s tran.sa(tion.s for January, a.s given on the following pages. A.s you are sup- 
 posed to be the proprietor of the business, you will write your name in the blank lines in the first two transactions on the 
 next page. In copying you may omit from your Day Book the ligures ut the left of the tran.sactions, as they are simply 
 reference figures, to assist in journalizing. The explanations for their use will be given hereafter. You should make your 
 pages as nearly as possible like the following, in substance, penmanship and arrangement. Read foot notes carefully, as 
 all are important to an understanding of the work. Should the tran.sactions given on a page in the text book not fill a page 
 in your Day Book, add a sufficient numl)er from the following page to do so, but do not in any ca.se divide a transaction. 
 
THEORETICAL AND PRACTICAL l«)OK-KEEPING. 
 
 13 
 
 L. No. I 
 p. 8. 
 
 Ex. No. 2, 
 p.! 
 
 v/ 
 
 / 
 
 Ex. No. 3 
 p.». 
 
 Ex. No. 
 p. 8. 
 
 Ex. No.l 
 p. 8. 
 
 Bx.No.e 
 p. 8. 
 
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 Ex. No. 8 
 p.9. 
 
 Ex. No. 9, 
 p.9. 
 
 i.No.4, 
 p. 8. 
 
 Ex.No.8, 
 p.9. 
 
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 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 El. No. 5, 
 page 8. 
 
 Ex. No. 3, 
 pages. 
 
 Bz. No. 9, 
 paged. 
 
 Ex. No. 6, 
 page 8. 
 
 Ex. 
 No 20, 
 page II. 
 
 Ex. No. 4, 
 pages. 
 
 Ex. No. 8, 
 pages. 
 
 Ex. No 3, 
 pages. 
 
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THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 15 
 
 ^^J/J'/'- 
 
 Ex. No. 6, 
 pages. 
 
 Ex. 
 No. 18, 
 page 10. 
 
 Et. No. 3, 
 page 9. 
 
 Ex. No. 8. 
 paged. 
 
 See 
 Prin. 39, 
 page 6. 
 
 See 
 
 Prin. 47, 
 
 page 6. 
 
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 page?. 
 
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 See 
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 page 6. 
 
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16 
 
 THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 DIRECTIONS FOR JOURNALIZING. 
 
 Having completed the work of copying the foregoing transactions into your Day Book, you may 
 now journalize them. As explained in 9 and 10, on page 5, journalizing i.s deciding uj)on the proper 
 debits and credits of the business transactions recorded in the Day Book, and arranging them m the 
 Journal in a form convenient for transferring (posting) to the Ledger. In journalizing, therefore, vou 
 will need your Day Book and Journal before you. 
 
 The Examples commencing on page 8 are designed to assist you in the work of journalizing. 
 To illustrate: Ecad the first transaction in your Day Book; then turn to page 8 and compare 
 it with the Day Book Eecord of Example No. 1. As you will see, tliey read substantially alike, 
 and precisely the same principles are involved in each. If, therefore. Example No. 1 be journalized 
 
 To J. T. Smith Cr. 5000 ^^^^ journal entry for Example No. 1, page 8), it follows that the 
 
 first transaction in your Day Book should be journalized ^^ ',„ ^cm. ^ ^ r, .„„^ 
 
 •' •' •" io Student, Cr. 4000 
 
 Turn to your Journal, therefore, and make the journal entry as shown in the engraved form below. 
 iTou will observe that the debits are entered on the left side and the credits on the right side of the 
 dividing line. The abbreviations Dr. and Cr. are omitted from the Journal. The sign " To" indicates 
 that the item before which it is placed is a credit. After you have made the entry in your Journal, turn 
 at once to your Day Book, and, in the column at the left, check the transaction thus v/, to prevent 
 omissions. 
 
 Next proceed to journalize the second transaction in your Day Book. By reference to page 13 of 
 the text book, you will see that the small reference figures at the left of this transaction indicate that 
 you are to consult Example No. 2, on page 8, for assistance in making the journal entry. Again, the 
 reference figures for transaction of January 2, page 13, refer you to Example No. 3, page 8; for 
 transaction of January 4, to Example No. 5, and so on. 
 
 By referring in this manner to an example containing the same conditions as the transaction you 
 are journalizing, you can readily determine the proper debits and credits for all of the transactions in 
 January. In consulting these examples for assistance in making the journal entries, you should at the 
 same time study the rules and explanations given under them, that you may, as soon as possible, 
 become familiar with the principles of debit and credit. 
 
 After journalizing all of the transactions for January, present your Journal to the teacher for 
 approval. 
 
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THEOUETICAL AND PRACTICAL BOOKKEEPING. 17 
 
 DIRECTIONS FOR POSTING. 
 
 After you have journalized all of the transactions for January, and your Journal has been 
 approved by the teacher, your next work will be to post. Posting, as explained in 14 to 20, on page 5, 
 IS transferring the debits and credits from the Journal to the Ledger, placing those of the same name 
 under one heading, for the purpose of exhibiting the final results of the business. The simple process 
 of posting is not difficult; it is purely mechanical, but it requires constant watchfulness and care to 
 perform the work without making errors. 
 
 A few Ledger accounts are shown on page 19, to give you an idea of the form for opening 
 accounts in your Ledger; and you will find explicit instructions for posting given below, under " Guide 
 for posting the Journal entries for January." 
 
 You are to follow those instructions to the very letter, performing the work step by step as 
 directed. To illustrate: In the instructions for posting the first Journal entry (Jan. 1), you are told 
 to "write your own name at the top of page 1 in your Ledger." Before reading the instructions 
 further, you should turn to your Ledger and perform the work exactly as directed; then turn again 
 to the instructions and see what the next step is, and take that, and so on until you have posted the 
 entire entry. 
 
 Then take the instructions for the second entry in your Journal, and proceed in the same manner 
 as with the first entry, performing the work precisely as indicated. 
 
 After you have posted a few of the journal entries by the aid of the instructions, lay aside your 
 text book and jirocced without it if possible. 
 
 You may now place your Journal and Ledger before you, and commence posting in accordance 
 with the following 
 
 GUIDE FOR POSTING THE JOURNAL ENTRIES FOR JANUARY. 
 
 . • JANUARY 1. (See this Entry In your Journal.) 
 
 First, write youc name at the top of page 1 in your Ledger, on the upper line, in a bold, plain 
 hand. (See form of Ledger on page 19.) Next, on the riffhi hand side of the heavy line in the 
 center — Cr. side — enter, in the date column, the date, "'Jan. 1." (The explanation column will be 
 left blank for the present.) Next, in the journal page column, enter the page of your Journal, 
 "1." Next, in the amount column, enter the amount, "4000." Next turn to your Journal, and 
 place a check mark, thus "\/," opposite the student's name, to indicate that the item has been 
 posted. (See Journal form on page 10.) Before reading any further, perform the above work 
 precisely as instructed. Next write " Cash," in a bold, plain hand, at the top of page 2 in your 
 Ledger. Next, on the left hand side of the heavy line in the center — that is, on the Dr. side — 
 enter in the date column, the date, "Jan. 1." Next, in the Journal page column, enter the page of 
 your Journal, "1." Next, in the amount column, enter the amount, "4000." Next turn to your 
 Journal, and place a check mark, thus "v/," opposite Cash, to indicate that this item has been posted. 
 
 JANUARY 1, SECOND ENTRY. (See this Entry in your Journal.) 
 
 Turn to Student's account, on page 1 in your Ledger, and on the left hand side — that is the Dr. 
 side of his account — enter, in the date column, the date, "Jan. 1." Next, in the journal page column, 
 enter the page of your Journal, "1." Next, in the amount column, enter the amount, "300." Next 
 turn to your Journal and check the item thus 'W" N^ext write "J. S. Baker's" name at the top 
 of pcge S in your Ledger. Next, on the right hand side — that is the Cr. side of his account — enter, in 
 the date column, the date, "Jan. 1." Next enter in the journal page column the page of your Jour- 
 nal, "1." Next, in the amount column, enter the amount, "'300." Next turn to your Journal and 
 check the item thus "s/." 
 
 JANUARY 2. (See this Entry in your Journal.; 
 
 Open an account with "Merchandise" at the top of page 4 in your Ledger; then, on the left 
 hand side— that is the Dr. side— enter, in the date column, the date, "Jan. 2"; next enter the page 
 of your Journal, "1"; next enter the amount, "650"; next turn to your Journal and check Mdse. 
 thus "\/." Next go to Cash account, on page 2 in your Ledger, and enter, on the Cr. side— that is 
 the right hand side— the date, " Jan. 3 "; next enter the journal page, " 1 "; next enter the amo-int, 
 " 650 "; next turn to your Journal and check thus " \/," 
 
18 THEOKEI'ICAL AND PRACTICAL BOOK-KEEPING. 
 
 JANUARY 3. (See this Entry in your Journal.) 
 
 Turn to Merchandise account, on page 4 in your Ledger, and enter, on the Dr. side — le^f hand 
 side— in the date column, the date, "3," the ditto marks — thus " — being placed under Jan. to save 
 repetition; next enter the journal page, " 1 "; next enter the amount, " 750 "; next check the item i!i 
 the Journal thus, "y/-"' Next open an account with H. W. Stevens, at the top of page 5 in you;- 
 Ledger, and enter, on the Or. side of his account, the date, "Jan. 3"; the journal page, "1"; the 
 amount, " 750"; then turn to the Journal and check as before instructed. 
 
 JANUARY 4. (See the Journal Entry.) 
 
 Turn to Cash account, on page 3 in your Ledger, and enter, on the Dr. side— left hand side — of 
 the account, the date, "4," placing ditto marks under the month; next enter the journal page, 
 "1"; next enter the amount, "187.50"; next turn to your Journal and check. Next turn to Mer- 
 chandise account, on page 4, and enter, on the Cr. side, the date, "Jan. 4"; next the journal page, 
 "1"; next the amount, "187.50 "; next turn to your Journal and check. 
 
 JANUARY 5. (See the Journal Entry.) 
 
 Open an account -with "Ford ■!': Co." in the middle of page 5 in your Ledger, and enter, on the 
 Dr. side of the account, the date, '•Jan. 5"; next enter the journal page, "1"; next enter the 
 amount, "635.00"; next turn to your Journal and check. Next turn to Mdse. account, on page 4. 
 and enter, on the Cr. side, the date, "5"; next the journal page, "1"; next the amount, "625.00." 
 
 JANUARY 6. (See the Journal Entry.) 
 
 Open an Expense account at the top of page 6. Enter, on the Dr. side, the date, "Jan. 6 "; next 
 the journal page, "1"; next the amount, "25"; next check in the Journal. Next turn to Cash 
 account, on page 2, and enter, on the Cr. side, the date, "6"; the journal page, " 1"; the amount, ~ 
 "25"; then check in the journal. 
 
 JANUARY 8. (See the Journal Entry.) 
 
 Turn to H. W. Stevens' account, on page 5, and enter, on Dr. side, the date, ".Jan. 8"; journal 
 page, "1"; amount, "250"; then check in the Journal. Next turn to Cash account, on page 2, and 
 enter, on the Cr. side, the date, the journal page, the amount; then check in the Journal. 
 
 JANUARY 9. 
 
 On Dr. side of Cash account enter the date, the journal page, the amount; then check in the 
 Journal. Next, on the Cr. side of Ford & Co.'s account, enter the date, journal page, amount. 
 
 JANUARY 10. 
 
 Post on the Dr. side of Cash account, as instructed heretofore, and check in the Journal; then 
 post on the Cr. side of Mdse. account. 
 
 JANUARY 11. 
 
 Post on the Dr. side of Stevens account, and on the Cr. side of Cash account, remembering to 
 check in the Journal after each potting. 
 
 JANUARY 12. 
 
 Post on Dr. side of Mdse. account. Next open an account with James T. lloag, at the top of 
 page 7, and credit him. 
 
 Note. — You will observe that, in every journal entry, an equal amoiTnt is posted to both sides of the Ledger, thus 
 keeping it constantly in balance. This is the principle upon which Double Entry bookkeeping is based and from 
 which it takes its name. 
 
 You should now be able to proceed with the posting without further assi-stance. In case you should be unable 
 to do so, however, for additional practice apply to tlie teacher for a neparate xheet of leilgcr paper, and post the same 
 entries again. 
 
 In opening new occouuts iu your Ledger hereafter, leave cnehalf of a page spaic for each, until otherwise 
 instructed. 
 
THEOKETICAL AND PKACTICAL BOOK-KEEPING. 
 
 19 
 
 c/2^. 
 
 ^^ 
 
 Dat«. Bxpl»nattoQ^ Journal Page. Amoniit. 
 
 ^' 
 
 Explanation. Joomal Page. Amcnnt. 
 
 /irj-- 
 
 'Oi-P^ 
 
 ij 1^ a 
 
 ii-i^' / 
 
 /Aa a o 
 
 Open thifl account 
 at top of page 2. 
 
 /ff- 
 
 ^^?-Z-^ 
 
 
 j-i^y 
 
 yj'cT- 
 
 'tiio^ 
 
 _2. 
 
 / 
 
 
 Open tllfs account 
 at top of page 3. 
 
 
 LSa a 
 
 Open this account 
 at top of page 4. 
 
 
 J.. 
 
 
 
 
 6^J 
 
 <ra 
 
20 
 
 THEORETICAL AND PKACl'lOAL BOOKKEEPING. 
 
 TRIAL BALANCE. 
 
 " A Trial Balance is a test to ascertain whether the debit and credit sides of the Ledger are equal. 
 "■The Trial Balance does not prove the work absolutely correct, '"as errors may be made wliicli will 
 not affect the equality of the Ledger, "such as posting to the wrong account, errors in journalizing, 
 erroneous computations, etc. 
 
 "^ If the footings of the Trial Balance are equal, however, it is generally regarded as evidence that 
 the work upon the Ledger is correct, * although the careful book-keeper, in addition to such proof, 
 will usually go over his computations and posting the second time. 
 
 You may now proceed to take a Trial Balance for January. 
 
 INSTRUCTIONS FOR TAKING JANUARY TRIAL BALANCE. 
 Commence with the first account in your Ledger, which is Student's, and foot the Dr. side of the 
 account, *' placing the footing in small lead-pencil figures, ** close up to the line on which the last item 
 is posted, as illustrated below. 
 
 
 
 
 
 Student. 
 
 
 
 
 
 
 J 88 
 Jan. 
 
 1 
 
 
 1 
 
 300 
 
 
 188 
 Jan. 
 
 1 
 
 
 1 
 
 i 
 
 4000 
 
 ii 
 
 18 
 
 
 2 
 
 75 
 
 375 
 
 
 
 
 
 
 
 
 The above illustration shows how the Dr. side of Student's account will appear in the Ledger 
 after it has been footed for the trial balance. ** Do not draw lines under the columns to be added, as 
 the peculiar position of the footing serves to distinguish it from the other items in the account. 
 " Make your pencil footings plain and distinct, but as small as possible. When there is but one item 
 on either side of an account, no pencil figures are necessary; for example, see credit side of Student's 
 account above. Next write your name on the first line in the trial balance sheet, " placing the Dr. 
 footing of your account in the left hand column and the Cr. footing in the right hand column, as 
 illustrated in the trial balance given below. 
 
 You will then turn to the next account in your Ledger — Cash. Add both sides of the account, as 
 before instructed, placing the footings in pencil in the position described above, and then transfer 
 them, with the title of the account — Cash — to the next line in the trial balance sheet. Continue in 
 this manner, footing and carrying results to the trial balance, until the footings of all of the accounts 
 in the Ledger have been transferred. ^ When the footings of both sides of an account are equal they 
 should be omitted from the trial balance, as in the case of the account with James T. Hoag. You 
 may rule up Hoag's account in your Ledger at once. (See first .ruling of Jiis account, page 39.) "If 
 your trial balance is correct, the footings of the sides will be equal, and will correspond in all parti^-ulars 
 with the one given below. Always vsf. rod inl- in rnlivr. Write your own name in place of " Student," 
 
 ^^^^-^-^^^^g^^-^ t^/ /^V- 
 
 / 
 
 7 
 
 
THEORKTlCAlj AKD tRACTlCiVL BOOKKEEPING. 2i 
 
 ERRORS IN TRIAL BALANCES. 
 
 •• N"o rule or set of rules can be given for the certain detection of errors in trial balances, save, 
 perhaps, a careful review of the entire work. If only one error has been made, however, tlie following 
 short tests will frequently disclose it, and they should be first applied, as involving much less labor 
 tlian going over the entire work. 
 
 First.— °* If the error be exactly $1, $10, $100, $1000, etc., it is very likely in the additions, either 
 of the Ledger accounts or the columns of the trial balance. 
 
 Second. — "An error may have been made in carrying the footings of the accounts from the Ledger 
 to the trial balance, or °' an account may have been omitted entirely from the trial balance. 
 
 Third. — '"If an amount has been omitted in posting, the trial balance will be exactly that amount 
 out of balance. °° Look through the Journal or other books from which you have posted, and see if 
 you can find an item of the same amount as the error, which has been omitted in posting. 
 
 Fourth. — '""If an amoitnt has been posted to the wrong side of the Ledger, the trial balance will 
 be just twice that amount out of balance; "" therefore look through the Journal for an item of one-half 
 the amount of the error. 
 
 Fifth. — '"* If the error be divisible by 9, it is quite likely to have been caused by a transposition of 
 figures; as, $42 posted $24 would make an error of $18, which is divisible by 9; again, $345 posted 
 $453 would make an error of $108, which is divisible by 9, etc. 
 
 Sixth. — "^Should all of the foregoing tests fail to disclose the error, it will be necessary to review 
 the work, '"from the date of the last trial balance, in the following manner: ""Examine carefully 
 each journal entry, to be certain that the debits and credits are equal, and '°° then see that these debits 
 and credits have been transferred correctly to the Ledger, ""placing a check mark in pencil, thus \/, in 
 the Ledger against each item examined and found to be correctly posted. '°® If, after thus checking 
 the work, you find an amount not checked, you may conclude that the item has been posted twice. 
 "" Merely examining the posting without checking will not answer the purpose; every item must be 
 checked to locate the error. 
 
 Note. — Questions upon a few of the leading principles involved in the work of the foregoing set are given below, 
 and you should be prepared to answer them satisfactorily if called upon by the teacher at any lime to do so. Before 
 proceeding further, therefore, study carefully the answers to the following 
 
 QUESTIONS FOR REVIEW. 
 
 Pages. — 'What is book-keeping? 'What is the object of it? 'What are the principal books 
 employed in Double Entry called? 'Describe the use of the Day Book. ' Tlie Journal. "The 
 Ledger. '" What is Journalizing? *" Wliat is Posting? 
 
 Page 6. — '"When are Persons debited? "When are Persons credited? ''When is Property debited? 
 ''When is Property credited? 
 
 Page 20.— "'What is a Trial Balance? ''Why does it not prove the Ledger pbsolutely correct? 
 "When may an account be omitted from the Trial Balance? 
 
 Note. — After you have become familiar with the principles covered by the above questions, proceed to copy into 
 your Day Book the transactions for February, as given on the following pages. In all computations, if tlie fraction is 
 five mills or over, add another cent; if less than five mills, drop the fraction. Strive to make the work upon your 
 books show constant progress in penmanship, by imitating as nearly as possible the forms given you to copy. 
 
 ■/.^^ Rochester, IM.Y., :U2€^^^y^, iss-i. 
 
 %^f- 
 
 TO THE ORDER OE ^^J-^^^^^e^:^^^ .>X /cy^*?--/-:?^^^.:^ 
 
 'AFTER DATE^2:^t^^t;^<FROM;iSB TO PA.Y 
 
 
 Value received 
 
 No. ^f. DUE /j(^2f^^7:/.^"=^— y^/Ci>C^f:^i^^ >~^yc^^^t-<^-<d^i<^^i^ 
 
 -A^y^n-^^-^^^y^i 
 
22 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 See 
 Prill. S9, 
 
 .'p. 6. 
 
 *f;, 
 
 See 
 
 Prin.64, 
 
 p. 7. 
 
 M,Pk<. 
 
 No. 10, 
 p.*. 
 
 89, p. 6. 
 
 El. 
 
 No. 11, 
 
 p. 9. 
 
 47. p. ». 
 
 Ex. 
 No. 14. 
 p. 10. 
 
 38, p. 6. 
 24, p. «. 
 
 Ex. 
 
 No 13, 
 p. 10. 
 
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 p. 11. 
 
 
 
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THEOUETICAL AND PRACTICAL I'.OOKiKKEPINU. 
 
 23 
 
 Ex. Xo. 12. 
 
 Ex. No. l.">. 
 jtage lU. 
 
 For the 
 tiiinpler 
 tiunsac- 
 tions no 
 refer- 
 ences will 
 hereafter 
 be given. 
 
 Ex. No. 19, 
 page IL 
 
 Ex. No. 2!. 
 paffeli. 
 
 Ex. No. 20, 
 pacrelL 
 
 Ex. No. 28 
 l>age 12. 
 
 Ex. No. 17, 
 page 10. 
 
 /^/rJ^ 
 
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 THKOKETICAL AKD PUACTICAL BOOR-KEEPING. 
 
 '>-'i'i>^>iZ^i^ /f^ //v^ 
 
 Ex. 
 No. 21, 
 page 11. 
 
 No. 28, 
 
 Er. No. 7, 
 P6«e9. 
 
 Ex. 
 Ko. 10, 
 IMSet. 
 
 Ex. 
 No.JS, 
 page 12. 
 
 Ex. 
 No. U, 
 page 10. 
 
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TUEOKETICAL AND PKACTIUAL Ji< lOK-KKEPING. 
 
 25 
 
 ^6,/rj^ 
 
 No. 18, 
 
 Ejt. 
 
 No. 27. 
 
 Ex. No. 7, 
 
 
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 Note. — After you have completed copying the foregoing transactions into your Day Book, before proceeding to 
 journalize, draw up on foolscap paper all of the notes mentioned in the transactions for the month. (See form of not« 
 on page 21.) 
 
 Interest and Discount, in the first fifty-four pages of this ■work, are computed at 6 per cent., on a basis of 365 days, 
 and in the remainder of the book on a basis of 360 days for a year. See also No. 1, at bottom of page 46, and note 
 No. 1, bottom of page 51. 
 
 After writing the notes called for above, proceed to journalize the transactions for February as you did those of 
 January, referring when necessary to the principles and examples indicated by the figures at the left of the transactions 
 to assist you in the work. As before stated, you should, when referring to the rules and explanations, study them care- 
 fully, that j'ou may, as soon as possible, journalize independently, by 'becoming familiar with the principles of debit 
 and credit. No reference figures are given for a few of the simpler transactions in February, it being presumed that 
 you are sufficiently acquainted with the principles to enable you to journalize them without such assistance. 
 
 When you have completed the journalizing for February, present your journal, together with the forms of noter 
 called for above, to the teacher for approval. You will then be prepared to begin 
 
 POSTING FEBRUARY. 
 
 As the business for February is a continuation of that of January, it will be posted under the 
 same ledger headings, new accounts being opened, of course, as they nuiy be required. Since full 
 instructions for posting were given in January, you will probably not require any further assistance, 
 as the work of posting is always substantially the same. 
 
 Should you need further aid, however, in the work, instructions for posting a few of the first 
 journal entries in February arc given below. 
 
 GUIDE FOR POSTING FEBRUARY. 
 
 FEBRUARY 1 (See this Entry In your Journal.) 
 Turn to Wells, Johnson & Co.'s account, on page 8 in your Ledger, and enter, on the Dr. side of 
 their account, the date, "Feb. 1"; the page of your Journal, "3"; the amount. "200"; then turn 
 to jour Journal and check this item. 
 
^6 I'HEORETtCAL AND tbACTtCAL feOOk-KEEMNG. 
 
 Next turn to Cash account, on page 2, and enter, on the Cr. side, the date, "Feb. 1 "; the journal 
 page, "3"; the amount. "300"; then turn to your Journal and check. 
 
 FEBRUARY 1. (Second Entry.) 
 
 Turn to Expense account, on page 6, and enter, on the Dr. side, the date, journal page and 
 amount; then check in the Journal. Next turn to Cush account, on page 2, and enter, on the Or. 
 side, the date, journal page and amount; then check in the Journal. 
 
 FEBRUARY 2. 
 
 Turn to Mdse. account, on page 4, and post on the Dr. side. Next open an account with Bills 
 Payable at the top of page 9 in your Ledger. (Bills Payable will require one page space.) Post, on 
 the Cr. side, the date, journal page and amount. Eemember to check every item in the Journal as 
 soon as posted. 
 
 FEBRUARY 3. 
 Post on the Dr. side of Cash account, and on the Cr. side of Mdse. account. 
 
 FEBRUARY 5. 
 
 Open an account with Bills Keceivable at the top of page 10 in your Ledger. (Bills Receivable 
 will require one page space.) Post, on the Dr. side, the date, journal page and amount. Turn to 
 Moore & Collins' account, and credit them with same amount. 
 
 FEBRUARY 6. 
 
 Post on Dr. side of Mdse. account. Next open an account with David Bailey at the top of page 
 11, and credit him with same amount. 
 
 FEBRUARY 7. 
 
 Post, on the Dr. side of Cash account, "100"; on the Dr. side of Jas. T. Hoag's account, "56.25"; 
 on the Cr. side of Mdse. account, " 156.25." 
 
 Note. — Continue in tliia manner until you have posted the entire month of February. In opening new accounts 
 hereafter in tliis month, give each account one-half a page space, excepting Interest and Discount, which will require 
 one page each. 
 
 After you have completed the posting for the entire month, your next work will be the 
 
 TRIAL BALANCE FOR FEBRUARY. 
 
 Proceed to take a Trial Balance for February, in accordance with the instructions for the January 
 Trial Balance, given on page 20. In footing the accounts for February, add in the January footing 
 also. 
 
 Eemember that the footings are to be in pencil. Make small, plain figures, and place them close 
 up to the line on which the last item in the account is posted, as instructed in 88, page 20. 
 
 Ford & Co.'s account balances; it is therefore to be ruled up (see form of ruling on pages 38 and 
 39), and omitted from your Trial Balance. 
 
 When all the accounts in your Ledger have been footed and transferred to the Trial Balance, it 
 should agree in all respects with the Trial Balance given below. 
 
 Note No. 2. — If your trial balance docs not prove, turn to page 21, and apply tlie tests for finding errors in the exact 
 order given. If, after checking over the entire posting precisely as instructed in Rule 6, you do not find the error, hand 
 your trial balance and books to the teacher, who will suggest further steps to be taken. 
 
•tfifiOUEllCAL AND JPKACTIUAL iJOOK-KEfet'lNb. 
 
 2^ 
 
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 Note. — Questions upon some of the principles involved in tlie proceding set are given below, and you should he 
 prepared to answer them if called upon to do so. Before proceeding furtlier, therefore, study carefully the answers to 
 the following. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 7.— «»When are Bills Payable credited? "When debited? ''When are Bills Receivable 
 debited? *" When credited? "When are Interest, Discount, etc., debited? "When credited? "For 
 what is Expense debited? Tor what credited? "What is generally included under the title "Cash"? 
 "Under the title "Merchandise"? "Under the title "Expense"? "Under the title "Bills Receiv- 
 able "? •» Under the title " Bills Payable "? 
 
 Note. — Before proceeding with the month of March, study the following rule and explanations for the Bank 
 account, and also the examples given below illustrating the rule. 
 
 BANK. 
 
 Dr. 
 
 "" Bank is debited when a deposit is made in 
 the bank. 
 
 Cr 
 
 '" Bank is credited when a check is drawn upon 
 the bank. 
 
 "' The checks drawn by other persons, which come into your possession, should be journalized as 
 Cash. Debit Cash when you receive such checks, and credit Cash when you dispose of them. (See 
 form of check on page 28. ) 
 
 Note. —The following examples will illustrate the rule given above for journalizing the Bank account. 
 
ga 
 
 TBEOfeETlOAti AND i'RACtlCAL bOOK-lCEEPl>f(J, 
 
 EXAMPLE No. 30. 
 
 DAT BOOK KECORD. 
 
 ITEMS. TOTAL. 
 
 JOURNAL ENTRY FOR SAME. 
 
 DR. 
 
 Opened an account at City 
 Bank, and deposited, 
 Cash, 
 
 1500 
 
 City Bank, Dr. 
 
 To Cash, Cr. 
 
 1500 
 
 1500 
 
 DAT BOOK RECORD. 
 
 EXAMPLE No. 31. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Bo't of W. E. Brown, 
 25 bbls. Plour, @ 8.00, 
 
 Paid for same by check 
 on City Bank, 
 
 
 
 200 
 
 
 
 
 Mdse., Dr. 
 
 To City Bank, Cr. 
 
 200 
 
 200 
 
 DAY BOOK RECORD. 
 
 EXAMPLE No. 32. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Eeceived of H. A. Strong, 
 his check on First Na- 
 tional Bank, in settle- 
 ment of his account, 
 
 1 
 
 
 200 
 
 
 
 
 Cash, Dr. 
 
 To H. A. Strong, Cr. 
 
 200 
 
 200 
 
 DAY BOOK RECORD. 
 
 EXAMPLE No. 33. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Paid J. A. Richmond, on 
 account, H. A. Strong's 
 check on First National 
 Bank, 
 
 200 
 
 J. A. Eichmond, Dr. 
 
 To Cash, Cr. 
 
 200 
 
 200 
 
 Note. — The Bank account is sometimes kept in the Check Book instead of in the Ledger, the balance in bank 
 being considered as cash on hand. When this method is adopted, no entry is miide in tlie Cash account at the time of 
 depositing. Cash account being credited when a check is drawn upon the bank. This metliod of keeping the Bank 
 account will be illustrated in a more advanced part of the work. 
 
 You may now proceed to copy the transactions for the month of March into your Day Book. One page only is 
 written up, the remaining transactions being simply in the form of a connecled statement or liistory, from which j'ou 
 are to copy, arranging the work as heretofore. In a few cases references are made to similar transactions, to assist you 
 in the proper arrangement of the work in your Day Book. 
 
 N 
 
 O.^O^-^ 
 
 Cincinnati, O., 
 
 <f.^A^x&&y/ 
 
 Fourth National Bank, 
 
 Op Cixcinnati. 
 
 -^. .„ J^-^^^2-,^^r:?=^>^:^^^^^^^^2^^j^:^^^ or order. 
 
 DOLIvARS, 
 
 //^f. 
 
TUEORKTIOAL AND PRACTICAL BUOK-KEEPINO. 
 
 29 
 
 /^/^ 
 
 39, i>a,re 6, 
 18, pa^ 6. 
 
 S!>, page fi 
 a?, pnge fi, 
 
 Ki. paT>- 7. 
 M), page 6. 
 
 ;i4, iJaije 6, 
 
 17. iMiffe (i. 
 10, page (>. 
 
 6X, page? 
 21, page 6. 
 
 
 ^Z.^- 
 
 
 :5* 
 
 
 
 
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 -^ 
 
 / (^ ^ 
 
 
 
 
 /^%^. 
 
 
 
 
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 ijro 
 
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 ^^2-/- 
 
 
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 Cyty^^y-'^yiy:?^ <Cx r^^^'^g^^.tii^z,;^:;^/^'^:?/ .se-zi-z*^ 
 
 
 «-(^«»^ t 
 
 .^^oC- 
 
30 
 
 THEOKliTlCAL AND PRACTICAL KOOK-KEEPING. 
 
 59, pa. 7. 
 m, pa. 6. 
 
 «7, pa. 7. 
 40, pa. 6. 
 
 B7, pa. 7. 
 76, ])a. 7. 
 40, pa. 6. 
 
 47, pa. 6. 
 
 68, pa. 7. 
 24, pa. 6. 
 
 Ex. 30, p. 
 
 39, pa. 6. 
 m, pa. 7. 
 23, pa. e. 
 48, pa. 6. 
 
 89, pu. 6. 
 
 aO, pa. 7. 
 
 Ex. 31, p. 
 
 28. 
 
 76, pa. 7. 
 39, pa. 6. 
 60, pa. 7. 
 
 39, pa. 6. 
 
 60, im. 7. 
 76, pa. 7. 
 
 t MARCH 7, 188-. 
 
 Sold Clark, Sons & Bradley, on % 3750 lbs. Lard, @ 13|c. Arrange this transaction in your 
 Day Book same as Feb. 19, page 24. (See note at bottom of page.) 
 
 9. 
 Sold D. B. Martin, 20 bbls. Pork, @ 13.25; 30 bbls. Flour, @ 8.25; 15 bbls. Beef, @ 15.75. 
 Rec'd payment by note at 90 days. (See form of Day Book entry, Feb. 9. ) 
 
 )? 
 
 Paid February Gas Bill, in Cash, 4.75. (See form of Day Book entry, Jan. 6.) 
 
 10. 
 Paid my note of Feb. 36, favor of H. W. Stevens, in Cash. (For amount of this note, see 
 Day Book, Feb. 26; and for form of Day Book entry, see Feb. 11.) 
 
 11. 
 Eeo'd Cash of Clark, Sons & Bradley, on % 200.00. 
 
 12. 
 Prepaid my note of Feb. 23, favor of L. J. Peck, due Mar. 18th, 433.75. Discount to maturity, 
 6 days, 43c. Balance paid in Cash, 433.32. (See Day Book form, Feb. 28.) 
 
 13. 
 Paid David Bailey, Cash on ofc, 62.50. 
 
 Bo't of W. A. Bancroft, 600 lbs. Y. H. Tea, @ 65c.; 1600 lbs. Java Coffe, @ 28c. Gave liim, 
 in payment, my note at 10 days, with interest, 500.00; balance on "/c. (Day Book form, 
 Feb. 18.) 
 
 14. 
 
 Opened an account at College Bank, and deposited Cash, 500.00. (See example No. 30, on 
 page 28, for form of Day Book entry. ) 
 
 15. 
 Sold Ford & Co., 20 bbls. Flour, @ 8.25; 18 bbls. Beef, @ 15.75; 30 bbls. Pork, @ 13.50. 
 Rec'd in payment. Cash, 353.50; their note at 10 days, with interest, 300.00; balance on 
 <yc. (See Day Book form, March 6. ) 
 
 16. 
 Rec'd Cash of Ford & Co., for their note of Feb. 21st, due to-day. (See your Day Book, Feb. 
 21, for amount of this note.) 
 
 17. 
 
 Paid J. S. Baker, Cash in full of '^. (See his '^ in your Ledger for amount you owe him.) 
 
 18. 
 Bo't of II. W. Stevens, 100 bbls. Salt, @ 3.15, and paid for same by check on College Bank. 
 (See Example No. 31, on page 28, for form of Day Book entry, and form of check on 
 
 page 28.) 
 
 19. 
 
 D. B. Martin prepaid his note of 9th inst., due June 10th, 748.75. Discount to maturity, 83 
 days, 10.22. Rec'd Cash for balance, 738.53. (See Day Book form, Feb. 23.) 
 
 Sold D. V. Bell, for Cash, 50 bbls. Salt, @ 2.55. 
 
 20. 
 Rec'd Cash of Moore & Collins, for their note of 5tli inst., due to-day, with interest. Face of 
 note, 500.00; interest to date, 15 days, 1.23. (See Day Book form, Feb. 17.) 
 
 21. 
 Deposited Cash in College Bank, 1200.00. 
 
 22. 
 
 Sold Wardwell & Vance, for Cash, 10 bbls. Pork, @ 13.75; 10 bbls. Beef, @ 15.50. 
 
 Note. — Whenever the fiactiou is five mills or over, add another cent; when less than live mills, drop the 
 fraction. 
 
THEOKKTICAL AND PBACl'lCAL BUUKKEEPING. 
 
 81 
 
 39, pa. 6. 
 53, pn. 7. 
 
 36, pa. 6. 
 10, pa. 6. 
 
 67, pa. 7. 
 75, |iii. 7. 
 Ill, p. 37. 
 
 23, pa. 6. 
 Ill, p. 27. 
 
 23. 
 Sold Henry F. Mixer, the House and Lot No. 718 Main St., for Cash, 2300.00. 
 
 24. 
 Student ( ) drew Cash from the business, for private use, 125.00. 
 
 25. 
 Eeo'd of Moore & Collins, their note at 20 days, to balance ofc, 130.30. (See Day Book form, 
 
 Feb. 5th.) 
 
 26. 
 
 Sold Sickles, Stover & Jackson, 800 lbs. Java Coffee, @ 32c. ; 180 lbs. Y. H. Tea, @ 85c. 
 Kec'd in payment, Cash, 209.00; balance on % 
 
 ?? 
 
 Paid my note of 13th inst., favor Bancroft, due to-day, with interest, by check on College 
 
 Bank. Face of note, 500.00; interest to date, 13 days, 1.07. (See Day Book form, Feb. 
 
 25.) 
 
 27. 
 
 Gave W. A. Bancroft a check on College Bank, to apply on <yc, 500.00. 
 
 jj 
 
 Eec'd Cash of Sickles, Stover & Jackson, on "fe, 50. 00. 
 
 28. 
 Eec'd Cash of Ford & Co., for their note of loth inst., due to-day, with interest. Face of 
 note, 300.00; interest to date, 13 days, 64c. 
 
 29. 
 Paid Book-keeper's salary for the month in Cash, 75.00. 
 
 30. 
 Eec'd Cash of Clark, Sons & Bradley on "jc, 100.00. 
 
 31. 
 Deposited Cash in College Bank, 3500.00. 
 
 Paid Eent of Store, by check on College Bank, 25.00. 
 
 Note. — Copy tl)e Inventories as given below into your Day Booli, immediately following tlie Irnnsactions for 
 March. When the inventory includes a long list of goods, a separate book, called the "Inventory Book," may be 
 employed. 
 
 RESOURCE INVENTORIES, MARCH 31, 188-. 
 
 MERCHANDISE. 
 
 100 bbls. Flour, 
 50 " Salt, 
 GOO lbs. Y. H. Tea, - 
 800 " Java Coffee, 
 
 OflBce Safe, valued at 
 " Books, 
 
 EXPENSE. 
 
 7.00, 
 
 700 
 
 
 
 2.1.3, 
 
 106 
 
 50 
 
 
 65c. 
 
 390 
 
 
 
 28c. 
 
 224 
 350 
 
 
 1420 
 
 
 50 
 
 
 300 
 
 50 
 
 '"An Inventory represents, generally, property on hand, as in the case above. "*It may, however, 
 represent a debt owing to ns or owing by us, such as interest accrued on notes, unpaid rent, etc. "* An 
 Inventory may, therefore, show either a resource or a liability. 
 
 "" In business, the inventory of goods on hand is usually found by going through the store, weigh- 
 ing, measuring or counting the articles, '" tlieir value being, estimated usually at the price at which 
 they could then be purchased. "" In some kinds of wholesale business it is advantageous to keep what 
 is called a "Stock Book," from which the quantity of goods on hand can be determined af any time, 
 and with much less labor than by the method described above. 
 
32 THKORETICAL AND PirACTICAL BOOKKEEPING. 
 
 Note.— Having completed copying the Day Book for Marcli, journalize the transactions, consulting tlie examples 
 and rules to which references are made, as you may find it necessary. After you have journalized the entire month, 
 before commencing to post, write up, ou foolscap paper, the checks mentioned in the transactions of March 13 and 26 
 (see form of check on page 28), and present them, with your Journal, to the teacher for approval. 
 
 POSTING MARCH. 
 
 The business of March being a continuation of that of January and February, it will be posted 
 under the same ledger headings, opening such new accounts as may be required. 
 
 Give all new accounts in this month one-half of a page space, excepting College Bank, which will 
 require one page. 
 
 BALANCE SHEET. 
 
 After you have completed the posting for March, you may next "'make out a "Balance Sheet," 
 for the purpose of ascertaining the exact condition of the business at the present time. 
 
 '"'The Balance Sheet as illustrated on page 34 combines with the Trial Balance a statement, 
 exhibiting in a condensed and convenient form for reference, the Resources^ Liabilities, Losses and 
 Gains of the business. In performing this work, it is of the utmost importance to you that you do 
 not merely copy the form of Balance Sheet. To do the work understaudingly, securing a knowledge 
 of the relations of the various accounts to the business, it is absolutely essential that you take each 
 step in the order indicated, and perform the work precisely as directed in the instructions which follow. 
 
 GUIDE FOR MAKING BALANCE SHEET FOR MARCH. 
 
 If you have not in your Trial Balance book a form ruled to correspond with the one shown on 
 page 34, you will rule a sheet. First take a trial balance of your Ledger, precisely as instructed for 
 January and February; that is, foot the accounts in pencil, and carry the footings to the first two 
 columns of your Balance Sheet. Do not extend any amounts to the other columns until you have 
 thus drawn off into your Balance Sheet all of the ledger accounts and footed the columns, to ascertain 
 whether your Ledger is in balance. If your trial balance proves — that is, if the first two columns foot 
 equally — your next step will be to extend the Eesources, Liabilities, Losses and Gains, as shown by 
 the various accounts as follows: 
 
 CASH. 
 
 Commence with Cash, it being the first account in your Balance Sheet, following the Proprietor's 
 (Student's) account. '■"The difference between the Dr. footing. 158?!. 91— the cash received — and the 
 Cr. footing, 15530.49— the cash paid out — is 341.42, which you are to extend to the Eesource column 
 in your Balance Sheet, because it is the cash on hand. (See 33, page 6. ) 
 
 MERCHANDISE. 
 
 ™ First enter, in the Eesource column, the Mdse. on hand — that is the Inventory as shown on 
 page 31—14^0.50. (See 32, page C.) Make the entry in red ink, to distinguish it from the resources 
 shown by the ledger accounts. Next find tlie gain on Mdse. account by either of the following 
 methods, and extend into the Gain column of your Balance Sheet 803.62. (See 31, page 6.) 
 
 "'First Method. 
 
 Sales of Mdse. (Cr. footing), 9,377.62 
 
 Inventory (goods on hand, page 31), — 1,420.50 
 
 10,798.12 
 Cost of Mdse. (Dr. footing), 9,994.50 
 
 Gives the gain, 803. 62 
 
 '"Secoxd Method. 
 
 Sales of Mdse 9,377.62 
 
 Cost of Mdse. 9,994.50 
 
 Inventory " 1,420.50 
 
 8,574.00 
 Gives the gain, 803. 62 
 
 H. W. STEVENS. 
 "'The Cr. footing of his account is 1210, and the debit footing 775. You are to extend to the 
 Liability column the difference, 435, because it is the balance you owe him. (See 33, page 6.) 
 
 FORD &. CO. 
 '*> The debit footing of their account is 200, and, there being no credit, extend the 200 to the 
 Eesource column, it being the amount they owe you. (See 32, page 6. ) 
 
THEOKETKJAL AND PRACTICAL BOOKKEEPING. 33 
 
 EXPENSE. 
 
 '" First enter, in the Eesource column, the Expense Inventory, 300, given on page 31. (See 33, 
 page 6.) Enter the item in red ink, as explained for Mdse. Inventory. Next enter, in the Loss 
 column, 320.05, the loss on Expense account (sec 30, page 6). "* This you will find by deducting the 
 Expense Inventory, BOO, from the Dr. footing of Expense account, 6^0.05, because the Safe and Books, 
 when bought, were charged to Expense account, and are therefore included in the Dr. footing, 6^0.05. 
 
 JAS. T. HOAG. 
 
 The Dr. footing of his account is 133.75, and the Cr. footing 25. You are to extend to the 
 Resource column the difference, 98.75, because it is the balance he owes you (32, page G). 
 
 WELLS, JOHNSON &. CO. 
 
 The Cr. footing of their account is 908.75, and the Dr. footing 200. You are to extend to the 
 Liability column the difference, 768.75, it being the balance you owe them (33, page G). 
 
 BILLS PAYABLE. 
 
 '"The difference between the Cr. footing, 2383.75 (the notes issued), and the Dr. footing, 2083.75 
 (notes redeemed), is 300, which you are to extend to the Liability column, it being the Bills Payable 
 outstanding (33, page 6). 
 
 BILLS RECEIVABLE. 
 '"The difference between the Dr. footing, 285480 (the notes received), and the Cr. footing, 
 2724.50 (notes disposed of), is 130.30, which you are to extend to the Resource column, it being the 
 Bills Receivable on hand (33, page 6). 
 
 DAVID BAILEY and W. A. BANCROFT. 
 Same instructions and explanations for these accounts as given above for H. W. Stevens' account. 
 
 INTEREST. 
 
 "' The difference between the Cr. footing, 2.17 (the interest allowed to us), and the Dr. footing, 
 1.93 (the interest allowed by us), is 25c, which you are to extend to the Gain column (31, page 6). 
 
 DISCOUNT. 
 
 '"The difference between the Dr. footing, 16.64 (the discount allowed by us), and the Cr. footing, 
 3.16 (the discount allowed to us), is 13.48, which you are to extend to the Loss column (30, page 6). 
 
 SICKLES, STOVER &. JACKSON. 
 Same instructions and explanations as given above for Jas. T. Hoag's account. 
 
 REAL ESTATE. 
 
 "* The difference between the Cr. footing, 2300 (the returns from sales), and the Dr. footing, 2000 
 (the cost), is 300, which you are to extend to the Gain column (31, page 0). 
 
 CLARK, SONS & BRADLEY. 
 Same instructions and explanations as given above for Jas. T. Hoag's account. 
 
 COLLEGE BANK. 
 
 '"The difference between the Dr. footing, 5200 (the amount deposited), and the Cr. footing, 
 1341.07 (the amount withdrawn), is 3958.93, which you are to extend to the Resource column, it being 
 the balance on deposit in the bank (32, page 6). 
 
 You may now foot the remaining columns of your Balance Sheet, viz: the Resource, Liability, 
 Loss and Gain columns, after which make a summary of the results, as shown in the form of Balance 
 Sheet on page 34. 
 
 '"When the losses exceed the gains, the difference is called the "Net Loss." "'In such case the 
 Net Loss is to be deducted from the Net Investment, to find tlie Present Worth. 
 
 '" When the Liabilities exceed the Resources, the Proprietor is said to be "Insolvent." 
 
34 
 
 TIIEOKETICAL AND PRACTICAL UOOK-KKEPINiJ 
 
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THEORETICAL AND PK4.0TICAI. UOOK-KEKPING. ■ 35 
 
 NoTK. — You may now close your Ledger, as explained below. 
 
 First, study carefully the following "General Rules for Closing the Ledger," and then proceed with the work us 
 instructed under " Guide for Closing the Ledger for March," on page 36. 
 
 CLOSING THE LEDGER. 
 
 '**It is customary in business, once ii year at least, to cause the proprietor's account in the Ledger to 
 show its true relation to the business; -tluit is, the i)roprietor"s present worth. "'To do this, it is neces- 
 sary to close only the accounts which ghow losses and gains; because in these accounts are entered all 
 the transactions which make the jiroprietor worth more or less. The Net Gain or Net Loss found by 
 closing these accounts is entered in (lie proprietor's account, which will then show the true Present 
 Worth. 
 
 ""The remaining accounts, those showing resources and liabilities, need not be closed for this pur- 
 pose, as they simply show of what such present tvorth consists, and closing them in no way affects the 
 ])roprietor's account. They may be closed, however, to mark a period in the business, or for the pur- 
 pose of causing each account to exhibit in a single amount, convenient for inspection, its exact net 
 debit or exact net credit, as the case may be. 
 
 "^Any account may be closed at iiiiy time, without reference to a general closing of the ledger. 
 As, for instance — if the footings become very largo and unwieldy, the account may be closed and the 
 balance carried forward ; or, in the case of a jjersonal account, if an adjustment is had and the correct 
 balance determined, it is desirable to close tlie account and carry forward the balance agreed upon at 
 that time; or, if the space assigned an account becomes filled, the account may be closed and the bal- 
 ance transferred to a new account. 
 
 "^ It is not customary iu business, even at a general closing of the ledger, to close all of the per- 
 sonal accounts. The ledger of a large business house not infrequently contains personal accounts reach- 
 ing into the thousands, and to close all of these would involve a great amount of unnecessary labor. 
 Personal accounts, therefore, are, as a rule, allowed to remain open until closed by jiayment in the 
 regular course of business. 
 
 For the purpose, however, of giving the pupil practice in the work of closing the ledger, all of 
 the accounts may now be closed, as explained below. First, read carefully the General Rules for 
 Closing the Ledger, and then proceed with the work, as instructed on page 36. 
 
 GENERAL RULES FOR CLOSING THE LEDGER. 
 
 '•'Open an account with "Loss and Gain," at the top of the first blank page following the last 
 account in your Ledger, if you have not already opened such an account. 
 
 To economize time, and to avoid omissions, it is desirable to close the accounts in tlie order in 
 which they stand in the Ledger, omitting the Proprietor's account until all the other accounts in the 
 Ledger have been closed. 
 
 ACCOUNTS SHOWING LOSSES AND GAINS HAVING INVENTORIES CLOSED. 
 
 '** If an account has a Resource Inventory, enter the amount of it on the credit side of the account, 
 in red ink, using for explanation "Inventory." '*^If an account has a Liability Inventory, enter the 
 amount of it on the debit side of the account, in red ink, using for explanation "Inventory." "'Next 
 enter, on the smaller side of the account, in red ink, the difference between the sides, using for 
 explanation " Loss and Gain." "^Next rule up the account and enter the footings, carrying the Inven- 
 tory below the rulings, on the opposite side of the account, in black ink. "* Next transfer the loss and 
 gain amount to the opposite side of Loss and Gain account, in black ink, using for explanation the 
 title of the account you are closing, as "Expense" or "Merchandise." 
 
 ACCOUNTS SHOWING LOSSES AND GAINS HAVING NO INVENTORIES CLOSED. 
 
 ^^ Enter, on the smaller side, in red ink, "Loss and Gain," and the difference between the sides of 
 the account. Rule up the account, enter the footings, and transfer the loss and gain amount to the 
 opposite side of Loss and Gain account, in black ink, using for explanation the title of the account you 
 are closing, as "Mdse.," "Real Estate," etc. 
 
 ACCOUNTS SHOWING RESOURCES AND LIABILITIES CLOSED. 
 
 ^ Enter, on the smaller side of the account, in red ink, " Balance " and the difference between the 
 sides. Rule and foot the account, and carry the difference below the rulings, on the opposite side, in 
 black ink, using for explanation "Balance." 
 
36 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 '^' LOSS AND GAIN ACCOUNT CLOSED. 
 Enter on the smaller side of Loss and Gain account, in red ink, the proprietor's name and the 
 difference between the sides, which difference will be the Net Gain or Net Loss. Eule and foot the 
 account, and carry the difference to the opposite side of the proprietor's account, in black ink, using 
 "Loss and Gain" for explanation. In case of a partnership, the difference should be divided according 
 to the terms of the partnership contract, and each partner's name and share entered separately in the 
 Loss and Gain account, and afterward transferred to the opposite side of his individual account. 
 
 "'THE PROPRIETOR'S ACCOUNT CLOSED. 
 Enter on the smaller side, "Present Worth" and the difference between the sides, in red ink. 
 Rule and foot the account, and bring the difference below the rulings on the credit side of the account, 
 in bliick ink, using " Present Worth " for explanation. In case the debit side of the proprietor's account 
 is greater, the difference will be entered as ''Insolvency." In case of a i)artncrsliip, each partner's 
 account should be closed as described above. This completes the closing of the Ledger. 
 
 Note. — After you have carefully read the "General Rules for Closing the Ledger," given above, you may proceed 
 with the work of closing your Ledger. 
 
 To assist you in applying the foregoing rules, a few closed accounts are s1k)wii on pages 38 and 39, and cj:plicit 
 directions are given below for every step to be taken, and you should follow these directioiis very carefully. Take each 
 step in the exact order indicated, and perform the work nrecisely as directed. 
 
 GUIDE FOR CLOSING THE LEDGER, MARCH 31, 188-. 
 First, at the top of a new page in your Ledger, open an account with Loss and Gain. Simply 
 write the heading. No entry is to be made in the account for the present. 
 
 Then turn to the first account in your Ledger following the Proprietor's (Student's) account, 
 which is 
 
 CASH. 
 
 On the first vacant line on the Cr. side of this account say, in red ink, "Mar. 31, Balance, 341.42," 
 Next rule and foot the account. (See Cash account closed, on page 38.) 
 
 '" In ruling an account, draw the red line directly upon the blue line. In the double ruling, draw 
 the lines as close as possible and not have them run together. Rule on the same line on both sides of 
 the account, even if there be a larger number of entries upon one side than upon the other. (See 
 ruling, on page 38. ) 
 
 '"The space for Cash on page 2 having been tilled, open another Cash account at the top of a new 
 page in your Ledger, and transfer the balance, 34L43, forward to the new account, as follows: On the 
 Dr. side of the new Cash account say, in black tnk, "Apr. 1, Balance, 341.42." 
 
 '" In the page column of the old Cash account, enter the page of the new account, to show where 
 the balance was transferred to; and in the page column of the new account, enter the i^age of the old 
 account, to show where the balance Avas transferred from. 
 
 "* Red ink entries in the Ledger indicate that the amounts so entered are to be transferred to some 
 
 other place. 
 
 MERCHANDISE. 
 
 On the Cr. side of this account enter, first, the inventory. Say, w red ink, " Mar. 31, Inventory, 
 1420.50." Then, on the Dr. side, enter the gain. Say, in red ink, " Mar. 31, Loss and Gain, 803.62," 
 and enter in page column the page of the Loss and Gain account. Next rule and foot the account (see 
 Mdse. account closed, on page 38). Next transfer the gam to the Cr. side of the Loss and Gain account. 
 Say, in black ink, '• Mar. 31, Mdse., 803.62," and enter page of Mdse. account. Next transfer the inven- 
 tory below the ruling oi the Mdse. account, on the Dr. side. Say, m black ink, "Apr. 1, Inventory, 
 
 1420.50." 
 
 H. W. STEVENS. 
 
 On Dr. side of this account say, in red ink, "Mar. 31, Balance, 435." Next rule and foot the 
 
 account. Next transfer the balance below the ruling on the Cr. side. Say, in black tnk, "Apr. 1, 
 
 Balance, 435." (See Stevens' account closed, on page 38.) 
 
 FORD & CO. 
 Only one item having been posted to this account since it was balanced and ruled up, it ig 
 unnecessary now to close it, the balance, 200, being shown as it stands. 
 
 EXPENSE. 
 On the Cr. side of this account enter, first, the inventory. Say, in red ink, " Mar. 31, Inventory, 
 300." Next enter, on the same side of the account, the loss. Say, in red ink, "Mar. 31, Loss and 
 Gain, 320.05," and enter page of Loss and Gain account. Next rule and foot tlie account. Next 
 
•theoretical and practical bookkeeping. 3f 
 
 transfer the loss to the Dr. side of the Loss and Gain account. Say, in Mack ink, "Mar. 31, Expense, 
 
 320.05," and enter page of Expense account. Next transfer the inventory below the ruling of the 
 
 Expense account, on the Dr. side. Say, in black ink, "Apr. 1, Inventory, 300." (See Expense account 
 
 closed, on page 39.) 
 
 . JAS. T. HOAG. 
 
 On Or. side of this account say, in red ink, "Mar. 31, Balance, 98.75." Next rule and foot the 
 account. Next transfer the balance below the ruling, on the Dr. side. Say, in black ink, "Apr. 1, 
 Balance, 98.75." (See Hoag's account closed, on page 39.) 
 
 WELLS, JOHNSON & CO. 
 
 Take the same steps in closing this account that you did in closing H. W. Stevens' account. (See 
 directions for closing his account, on page 36.) 
 
 BILLS PAYABLE. 
 On the Dr. side of this account say, in red ink, "Mar. 31, Balance, 300." Rule and foot the 
 account, and transfer the balance below the ruling, on the Cr. side. Say, in black ink, "Apr. 1, Bal- 
 ance, 300." 
 
 BILLS RECEIVABLE. 
 
 On the Cr. side of this account say, in red ink, "Mar. 31, Balance, 130.30." Rule and foot the 
 
 account, and then transfer the balance below the ruling on the Dr. side. Say, in black ink, "Apr. 1, 
 
 Balance, 130.30." 
 
 DAVID BAILEY and W. A. BANCROFT. 
 
 Same instructions as given for closing H. W. Stevens' account. 
 
 INTEREST. 
 
 On Dr. side of this account say, in red ink, "Mar. 31, Loss and Gain, 25c," and enter page of Loss 
 
 and Gain account. Next rule and foot the account. Next transfer the gain to the Cr, side of the Loss 
 
 and Gain account. Say, in black ink, "Mar. 31, Interest, 25c," and enter page of Interest account 
 
 (See Interest account closed, i)age 39.) 
 
 DISCOUNT. 
 
 On Cr. side of this account say, in red ink, "Mar. 31, Loss and Gain, 13.48," and enter page of 
 
 Loss and Gain account. Rule and foot the account; then transfer the loss to the Dr. side of the Loss 
 
 and Gain account. Say, in black ink, "Mar. 31, Discount, 13.48." (Remember always to enter the 
 
 number of the page, when amounts are transferred to or from some other page in the Ledger. 
 
 SICKLES, STOVER & JACKSON. 
 
 Same instructions as given for closing Jas. T. Hoag's account. (See Hoag's account closed, on 
 
 page 39.) 
 
 REAL ESTATE. 
 
 On Dr. side say, in red ink, "Mar. 31, Loss and Gain, 300." Rule and foot the account, and then 
 
 transfer the gain to the Cr. side of Loss and Gain account. Say, in black ink, " Mar. 31, Real Estate, 
 
 300." 
 
 CLARK, SONS & BRADLEY. 
 
 Same instructions as given for closing Jas. T. Hoag's account. 
 
 COLLEGE BANK. 
 On Cr. side say, in red ink, " Mar. 31, Balance, 3958.93." Rule and foot the account, and transfer 
 the balance below the ruling on the Dr. side. Say, in black ink, "Apr. 1, Balance, 3958.93." 
 
 LOSS AND GAIN. 
 On Dr. side of this account say, in red ink, " Mar. 31, Student, 770.34." Rule and foot the account; 
 then transfer the Net Gain to the Cr. side of Student's account. Say, in black ink, " Mar. 31, Loss and 
 Gain, 770.34." (See account closed, on page 39.) 
 
 STUDENT. 
 On Dr. side of this account say, in red ink, "Mar. 31, Present Worth, 5170.34." Rule and foot 
 the account; then transfer the difference below the ruling, on the Cr. side. Say, in black ink, " A])r. 
 1, Present Worth, 5170.34." (See account closed, on page 38.) 
 
 Your Ledger is now closed, and the purpose of such closing has been accomplished, viz : '" The 
 Proprietor's account has been made to show his present worth, and ""the resources and liabilities rep- 
 resenting such present worth are exhibited below the rulings of the various accounts showing them. 
 
 Note. — This subject continued on page 40. 
 
38 
 
 TIIEOIJKTICAL AND PRACTICAL BOOK-KEEPING. 
 
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40 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 '" In closing the accounts, the equilibrium of the Ledger has not been disturbed, "° as, in every 
 instance where an amount was entered in an account, either upon the debit or credit side of the 
 Ledger, the same amount was immediately transferred to the opposite side of the Ledger, either in 
 some other account or below the rulings of the same account, thus keeping the Ledger constantly in 
 balance. A trial balance, to prove that your Ledger is now in balance, should be taken, and if correct 
 will correspond with the following: 
 
 TRIAL BALANCE OF LEDGER BALANCES, APRIL 1, 188-. 
 
 "'RESOURCES (Dr. Balances). 
 
 Cash, 341.42 
 
 Mdse. Inv 1,430.50 
 
 Expense Inv. 300.00 
 
 Bills Eeceivable, 130.30 
 
 College Bank, 3,958.93 
 
 Personal Accounts, 660.94 
 
 Total Resources, 6,813;09 
 
 "'LIABILITIES (Or. Balances). 
 
 Bills Payable, _ 300.00 
 
 Personal Accounts, 1,341. 75 
 
 Total Liabilities, 1,641.75 
 
 Student's Present Worth, 5,170.34 
 
 6,812.09 
 
 Note.— After you have proved your Ledger to be in balance, as above indicated, you will be ready to proceed with 
 the month of April. Before doing so, however, write out upon foolscap paper answers to the following questions, and 
 present them, with your books, to the teacher for approval. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 5.— '-'What is Book-keeping? *-* Describe the use of the Day Book. »-"The Journal. 
 '*-*' The Ledger. *" Give the three kinds of accounts used in Double Entry. 
 
 Page 6.—*^" Give the rule for journalizing Personal accounts. "-'« Property. "''Allowances. 
 " Into how many general classes are the three kinds of accounts divided? ^^ When does an account 
 show a Loss? " When a Gain? " What is a Resource? ^ Liability? ''"' Give the rule for journalizing 
 the Proprietor's account. """ Cash. ■""^* Mdse. 
 
 Page 7.—"-" Expense. "«« Bills Receivable. "'^ Bills Payable. """ Interest, Discount, etc. 
 
 Page 20.—*' What is a Trial Balance? *'-** Why does it not prove the Ledger absolutely correct? 
 " When may an account be omitted from the Trial Balance? 
 
 Page 21. — " What is the first thing to be done to locate an error in the Trial Balance? »*-" The 
 second? ''What eilect would the omission of an amount in posting have upon the Trial Balance? 
 "" What if posted to the wrong side of the Ledger? '"' What is the peculiarity of an error caused by 
 figures having been transposed? '"When all of the short tests for finding the error fail, Avhat is it 
 necessary to do as a final resort? """"" Why is it necessary to indicate by a check mark in the Ledger 
 that each item has been examined? 
 
 Page 27. — "°""' Give the rule for journalizing Bank account. '" How are the checks of other 
 parties in your hands treated? 
 
 Page 31.—'"-'" What is an Inventory? '"-'" How found usually, and at what price are the goods 
 estimated? 
 
 Page 32. — "° What are exhibited in the Balance Sheet? "'In what column are the Inventories 
 entered? "'-'" How is the gain on Mdse. found? 
 
 Page 33. — "* How is the loss on Expense found? 
 
 Page 34. — What does the difference between the footings of the columns of Resources and Liabili- 
 ties show? (See Summary, also 137, page 33.) What does tlie difference in the footings of the 
 columns of Losses and Gains show? (See Summary, also 135, page 33.) How is the Present Worth 
 of the proprietor ascertained? (See Summary, also 136, page 33.) 
 
 Page 35. — '^'^ How often and in what manner is the proprietor's account in the Ledger caused to 
 exhibit its true relation to the business ? '*° Wliy is it not necessary, for this purpose, to close the 
 accounts showing resources and liabilities? '*' State some of the circumstances under which an account 
 may be closed at any time. '"Why is it not customary in business to close the personal accounts, 
 even at a general closing of the Ledger ? '" In closing the Ledger, what new account is it, sometimes, 
 necessary to open ? '""'** How are accounts showing losses and gains having inventories, closed ? 
 '*'How are accounts showing losses and gains having no inventories, closed? '"How are accounts, 
 showing resources and liabilities, closed ? 
 
 Page 36. — ^^ How is the Loss and Gain account closed ? "*' How is the Proprietor's account closed ? 
 How are partners' accounts closed ? 
 
THEORETtCAL AND PRACTICAL BOOKKEEPmO. 
 
 41 
 
 Note.— Before proceeding with tlie month of April, study carefully the following explanations and examples on 
 pages 41, 42, 43 and 44. 
 
 DRAFTS. 
 
 '" A Draft is the written order of one party upon a second, requesting the payment of a sum of 
 'money to a third. '"The party drawing the draft is the "Drawer." '"The party upon whom the 
 draft is drawn is the " Drawee." "° The party to whom the draft is made payable is the " Payee." 
 
 "' The draft is employed, usually, as a medium of exchange between distant places, obviating the 
 expense and risk of sending money. 
 
 "* Drafts may be drawn with reference to time in three different ways, viz: "* At sight, "" a speci- 
 fied number of days after sight, or '" a specified number of days after date. '"Drafts drawn "at 
 sight " are presented to the Drawee for payment. '" Time drafts are presented for "acceptance." 
 
 '" Acceptance, when applied to drafts, signifies the written acknowledgement of the Drawee, that 
 he agrees to the conditions named in the draft. '" This he does by writing across the face of the draft, 
 usually in red ink, to distinguish the acceptance from the other writing, the word Accepted, the date, 
 where payable, and his signature. '" It is not necessary to date the acceptance when the draft is 
 drawn a given number of days after date. 
 
 Baltimore, Md., ^^^jj \q.b,^ 
 
 C^^C^ ^Zi^'^^^y i::?Ct;^-2^^^cd--C'i:i^^ PAY TO 
 
 OR ORDER, 
 
 C^=^i.^^^^Si<^^/ ■^;^^IDOLL ARS. 
 .AND CHARGE TO ACCOUNT OK 
 
 CA.4A^ 
 
 y- 
 
 y^^ 
 
 In the above draft, the firm of Perry & Jackson is Drawer, J. V. Wentworth is Drawee, and the 
 firm of Willitson, Burgess & Hait, is Payee. The parties sustain the following relations to each other: 
 Perry & Jackson owe Willitson, Burgess and Hait, and Wentworth owes Perry & Jackson. Perry & 
 Jackson, who reside in Baltimore, draw the draft and remit it to Willitson, Burgess & Hait, who 
 reside in Albany. Immediately upon its receipt, they present it to Wentworth, who also resides in 
 Albany, for acceptance. If accepted, Willitson, Burgess & Hait will hold Wentworth's written 
 promise to pay, which, when paid, will cancel the indebtedness of both Perry & Jackson and Wentworth. 
 
 '" The Payee has no legal claim against the Drawee until after the draft has been accepted. 
 
 '" There need necessarily be but two parties to a draft. "' The Drawer may make tlie draft pay- 
 able to himself, in which case he either sends it to the Drawee to be accepted and returned, or, if his 
 (the Drawer's) credit be unquestioned, he may dispose of it before acceptance. 
 
 ""What are termed "Bank Drafts" constitute a large proportion of the business transacted 
 through this medium of exchange. '" All banks keep money deposited with one or more of the 
 banks located at some one of the commercial centers of the country, as New York, Boston, Chicago, 
 San Francisco, New Orleans, etc., against which they draw drafts to sell to their customers for remit- 
 tance to creditors, these drafts passing everywhere current as cash. 
 
 SPECIAL INSTRUCTIONS FOR JOURNALIZING DRAFTS. 
 DRAWER'S ENTRIES. 
 
 '" When he draws a draft and remits it to the Payee, to apply 
 on account, he makes 
 
 '" When he draws a draft and disposes of it, less discount, 
 receiving cash for proceeds. 
 
 Payee, Dr. 
 
 Cash, 
 Discount, 
 
 To Drawee, 
 To Drawee, 
 
4S 
 
 tHEORETICAL AND PRACTICAL BOOK-KEEPINOf. 
 
 DRAWEE'S ENTRIES. 
 '** When lie accepts a draft drawn on him on account. 
 
 '" When he pays a sight draft drawn on him in cash. 
 
 '*' When he prepays a time draft, in cash, less discount, instead 
 of accepting it. 
 
 '" When he pays his acceptance at maturity, in cash. 
 
 PAYEE'S ENTRIES. 
 
 '" When he receives a time draft from Drawer, to apply on I Bills Receivable, 
 account, and has had it accepted. | To Drawer 
 
 Drawer, 
 Drawer, 
 
 To Bills Payable, 
 To Cash, 
 
 Drawer, 
 
 To Discount, 
 " Cash, 
 
 Bills Payable, 
 
 To Cash, 
 
 '*' When the Drawee prepays the draft in cash, less discount, 
 instead of accepting it. 
 
 "° When he buys the draft of the Drawer, instead of receiving 
 it on account, the Drawer allowing him the discount. 
 
 Cash, 
 Discount, 
 
 To Drawer, 
 
 Bills Receivable, 
 
 To Cash, 
 " Discount, 
 
 GENERAL RULE FOR JOURNALIZING DRAFTS WHEN DRAWN ON ACCOUNT. 
 
 "' Debit the person whcr draws the draft on you. ™ Credit the person on whom you draw a draft. 
 
 Note. — The following examples and explanations are given to illustrate the application of the principles embodied 
 in the foregoing special and general rules regarding drafts, and to assist you in the work of journalizing the transactions 
 in which drafts are involved in the following sets. 
 
 EXAMPLES ILLUSTRATING JOURNAL ENTRIES OF ALL PARTIES TO DRAFTS. 
 
 UNDER DIFFERENT CONDITIONS. 
 
 EXAMPLE No. 34. 
 
 1 1 1 
 
 1500.00. Detroit, Mich., Apr. 1, 188-. 
 
 fT"' 3 -^ =« 
 
 Thirty days after date, for value received, pay to Smith & Ogden, or order. 
 
 [For form of ac 
 
 see page 
 
 Accepted, paya 
 
 chants' Bai 
 
 Frost 
 
 Five Hundred Dollars, and charge the same to my account. 
 
 To Frost & Selben, R. H. DINGMAN. 
 Philadelphia, Pa. 
 
 Due May 4, 188-. 
 
 Dingman's entry, if he sends above draft to 
 Smith & Ogden to apply on account. 
 
 
 
 Smith & Ogden, 
 
 To Frost & Selden, 
 
 500 
 
 
 500 
 
 
 Frost & Selden's entry when they accept the 
 draft. 
 
 
 
 R. H. Dingman, 
 
 To Bills Pay., 
 
 500 
 
 
 500 
 
 
 Smith & Ogden's entry at time of receiving the 
 draft from Dingman on account. 
 
 
 
 Bills Rec'v, 
 
 To R. n. Dingman, 
 
 500 
 
 
 500 
 
 
I'lIEOKETiCAL AND iPKACtlCAL BOOK KEKPlNU. 
 
 EXAMPLE No. 35. 
 
 43 
 
 $200.00. 
 
 
 
 
 ElCHMOND, 
 
 Va., Apr. 
 
 6, 188-. 
 
 
 At siglitj 
 
 pay to the order 
 
 of E. 
 
 T. 
 
 Crouch, Two 
 
 Hundred 
 
 Dollars, 
 
 for 
 
 yalue received, 
 
 and charge same to 
 
 the 
 
 account of 
 
 
 
 
 To Eaton, 
 
 Clark & Co., 
 
 New York. 
 
 
 
 GOSS & 
 
 FARNSWORTH. 
 
 
 Goss & Farnsworth's entry at time of drawing 
 the draft and remitting it to Crouch, on account. 
 
 
 
 E. T. Crouch, 
 
 To Eaton, Clark & Co. 
 
 200 
 
 00 
 
 200 
 
 00 
 
 E. T. Crouch's entry at time of receiving draft 
 of Goss & Farnsworth, on account. 
 
 
 
 Cash, 
 
 To Goss & Farnsworth, 
 
 200 
 
 00 
 
 200 
 
 00 
 
 Eaton, Clark & Co.'s entry at time of paying 
 the draft, in cash. 
 
 
 
 Goss & Farnsworth, 
 
 To Cash, 
 
 200 
 
 00 
 
 200 
 
 00 
 
 EXAMPLE No. 36. 
 
 $600.00. 
 
 
 
 Burlington 
 
 , Iowa, Apr. 10, 
 
 188-. 
 
 At ninety days' 
 
 sight, pay to the 
 
 order 
 
 of A. 
 
 M. Gordon, Six 
 
 Hundred 
 
 Dollars, 
 
 value received. 
 
 and charge to ac 
 
 count 
 
 of 
 
 BIGELOW & 
 
 CO. 
 
 To 
 
 Hatch, Mills & Pardee, 
 
 
 
 
 
 
 
 Chicago, 111. 
 
 
 
 
 
 Bigelow & Co.'s entry at time of drawing the 
 draft and sending it to A. M. Gordon, on account. : 
 
 
 A. M. Gordon, 
 
 To Hatch, Mills & Pardee, 
 
 600 
 
 00 
 
 600 
 
 00 
 
 A. M. Gordon's entry if, when he presents the 
 draft. Hatch, Mills & Pardee prepay it in cash, 
 less discount 93 days, instead of accepting it. 
 
 
 
 Cash, 
 Discount, 
 
 To Bigelow & Co., 
 
 590 
 9 
 
 83 
 
 17 
 
 600 
 
 00 
 
 Hatch, Mills & Pardee's entry at time of pre- 
 paying the draft as above stated. 
 
 
 
 Bigelow & Co., 
 
 To Cash, 
 " Discount, 
 
 600 
 
 00 
 
 590 
 9 
 
 83 
 17 
 
 EXAMPLE No. 37. 
 
 DAT BOOK RECORD. 
 
 ITEMS. TOTAL. 
 
 JOURNAL ENTRY FOR SAME. 
 
 DR. 
 
 Accepted J. T. Brown's 
 draft on us, at 10 days' 
 sight,favor of D. Woods, 
 to apply on account. 
 
 400 
 
 J. T. Brown, 
 
 To Bills Payable, 
 
 400 
 
 
 400 
 
 We owe Brown the above amount. He therefore has the right to order us to pay it, either to 
 himself or to another. In accepting the draft— that is, in agreeing to its conditions in writing — we 
 issue our written promise to pay, and must therefore credit Bills Payable. We debit Brown because 
 we get out of his debt by agreeing in writing to pay this amount to another party. 
 
44 
 
 tHEORETiCAt AND PRACTICAL BOOK-KEEPtNO. 
 
 EXAMPLE No. 38. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME. 
 
 Drew a draft at 60 days 
 after date, on Marsh 
 Bro's, Kansas City, and 
 discounted it at City 
 Bank, 
 Discount for 63 days, 
 Eec'd cash for proceeds. 
 
 1 
 
 98 
 
 04 
 96 
 
 100 
 
 
 
 
 Discount, 
 Cash, 
 
 To Marsh Bro's, 
 
 1 
 
 04 
 
 
 98 
 
 96 
 
 100 
 
 Marsh Bro's owe us the above amount, due in 60 days. Having immediate use for the money, we 
 draw a draft upon them and get it discounted at City Bank. By paying the above draft. Marsh Bro's 
 will get out of our debt. We therefore give them credit. Cash and Discount being debited. Should 
 Marsh Bro's fail to honor the draft, however, we should be obliged to refund the money to the bank, 
 in which case Marsh Bro's would be debited back, thus placing their accouut as it was before the draft 
 was drawn. 
 
 EXAMPLE No. 39. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Prepaid our acceptance in 
 
 favor of Wm. Heath, 
 Discount off, 40 days. 
 Paid balance in cash. 
 
 
 
 250 
 
 
 1 
 1 
 
 
 1 
 
 64 
 
 
 
 1 
 
 
 248 
 
 36 
 
 
 
 1 
 
 
 Bills Payable, 
 
 To Discount, 
 " Cash, 
 
 250 
 
 1 
 
 248 
 
 64 
 36 
 
 At the time of accepting the al)ove draft, we issued our written promise to pay, and therefore Bills 
 Payable must have been credited. We now debit Bills Payable, because our written promise to pay 
 has been redeemed. 
 
 EXAMPLE No. 40. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Paid Geo. D. Baker's draft 
 on us, at 60 days' sigiit, 
 less discount. 
 
 Face of draft. 
 
 Discount off, 63 days, 
 
 Paid balance by check on 
 City Bank, 
 
 
 
 
 
 
 
 Geo. D. Baker, 
 
 300 
 
 
 
 
 3 
 
 11 
 
 300 
 
 
 
 
 To Discount, 
 " City Bank, 
 
 
 
 311 
 
 296 89 
 
 296 
 
 89 
 
 
 
 
 
 
 
 
 
 
 We pay the above draft drawn upon us by Baker when it is presented, instead of accepting it, and 
 therefore credit Discount and City Bank instead of crediting Bills Payable, as in Example No. 37 
 
 above. 
 
 EXAMPLE No. 41. 
 
 DAY BOOK RECORD. JOURNAL ENTRY FOR SAME. 
 
 Had C. T. Meldrum's ac- 
 ceptance discounted at 
 City Bank, 
 Discount off, 48 days. 
 Proceeds placed to our 
 credit. 
 
 
 
 175 
 
 
 
 
 1 
 
 38 
 
 
 
 
 
 173 
 
 62 
 
 
 
 
 
 City Bank, 
 Discount, 
 
 To Bills Receivable, 
 
 173 
 1 
 
 175 
 
 When- the above draft was received by us and accepted by Meldrum, we must have debited Bills 
 Receivable, because the written promise to pay of another person had come into our possession. We 
 therefore credit Bills Receivable now, because such written promise to pay is disposed of. 
 
 NoTB. — After you have carefully read the foregoing rules and explanations, you may proceed with the month of 
 April. You are to admit Mr. D. W. Leonard as an equal partner in the business, he to invest an amount of cash equal 
 to your present worth, as shown by your Balance Sheet of March 31st. 
 
 In a business conducted by a partnership, an account is usually opened in the Ledger with each partner, in which 
 he is credited with his share of the investment and also his share of the gains, or is debited with his share of the losses. 
 
 A " Stock" account is sometimes opened in a partnership business, instead of an account with each partner, which 
 is credited with the combined investment of the partners, and at stated periods is credited with the entire net gain of 
 the business, or debited with the net loss. In such case a " Stock Ledger" is kept by the partners, upon wiiich each 
 has an account showing his interest in the business. In the month of April tlie first plan will )«? adopted. The memo- 
 randa of transaction.^ for the month of April l)egin <m page 46. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 45 
 
 /yrr 
 
 
 .^U4^y^^ .-^p^^^!^<^■y^-^^^^ ■ 
 
 '.^-^7<^-■i:z■ 
 
 zA^ 
 
 /.iH:, 
 
 '.^^cr7: 
 
 
 
 ' Li-a<^ 
 
 Li<^ 
 
 
 y(3a-'^-7-S^ 
 
 
 t-c^a^iS^ytJy 
 
 /«^ 
 
 
 y^T' 
 
 U^ 
 
 / 
 
 
 / 
 
 
 
 >^ 
 
 
 
 ' ii-a-if^t.^'yiy^ 
 
 (_^2c«i- ^o-z^ircZ- .^xr^ 
 
 ef^.O- 
 
 v/7/^ 
 
 ///-3 
 
 / ^i7 
 
 
 J.d~00 
 
 ^OO 
 
 / O 
 
 ff 
 
 c^v/ 
 
 uT?' 
 
 4// 
 
 ^jTZ/'i 
 
 ///-2 
 
 jrj. 
 
 / ^i" 
 
 J'-^J' 
 
 J2/S00 
 
 Ai^a o 
 
 / a ^ 
 
 /O O 
 
 J'/ 
 
 Note. — The Day Book and Journal will hereafter be combined ; the history of the transactions being written in 
 connection -with the journal entry. In the form shown above^ both debits and credits are entered at the left side of the 
 page, the right side being reserved for the explanations. The debits are to be entered first. Tlie credits are distin- 
 guished by having the sign " To " placed before them. The explanations are to be written about one-third smaller than 
 the journal entries. If, however, the teacher prefer, the Day Book and Journal may be continued as separate books to the 
 montli of July, 'page 58. 
 
46 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 80, pa. 7. 
 75, pa. 7. 
 110, p. 27. 
 
 Ex. 37, p. 
 13. 
 
 Ex. 38, p. 
 44. 
 
 Ex. 37, p. 
 43. 
 
 185, p. 43. 
 Ul, p. 27. 
 
 Ex. 37, p. 
 43. 
 
 67, pa. 7. 
 76, pa, 7. 
 lU, p. 27. 
 
 182, p. 41. 
 
 187, p. 42. 
 
 APRIL 1, 188- 
 
 D. W. Leouard has this day been admitted as an equal jjartner, the firm name to be Student 
 & Leonard. 
 
 D. W. Leonard invests Cash equal to Student's jiresent worth. 
 
 a 
 
 Bo't of David Bailey, New York, on "fc, 40 bbls. Sugar, 10000 lbs., @ llic. 
 
 2 
 Received of Ford & Co. their note at 25 days on ofe, 100.00. 
 
 3. ^ 
 
 Sold F. W. Warren, Avon, N. Y., 10 bbls. Sugar, 2500, @ 13c. Received in payment Cash, 
 50.00. His note at 15 days, with interest, 200.00. Balance on "/c. 
 
 it 
 Deposited Cash in College Bank, 2500.00. 
 
 4. 
 Gave Wells, Johnson & Co. our note of 20 days, with interest, on °/c, 400.00. 
 
 5. 
 Paid H. W. Stevens, cash on account, 100.00. 
 
 (< 
 
 Had Ford & Co.'s note of 2d inst. discounted at College Bank. Face of note 100.00; discount, 
 25 days, 41c.; proceeds credited to our account, 99.59. 
 
 6. 
 Sold Moore & Collins, Buffalo, 50 bbls. Flour, @ 8.25. Rec'd in payment, their note at 30 
 days for 150.00; balance on cfe. 
 
 7. 
 Accepted David Bailey's draft on us, at 10 days' sight, favor E. R. Andrews, payable at College 
 Bank, to apply on % 500.00. 
 
 8. 
 Drew a draft at 30 days from date, on Ford & Co., Baltimore, and had it discounted at CJollege 
 Bank. Face of draft, 100.00; discount, 33 days, 54c.; rec'd cash, 99.46. 
 
 it 
 Accepted W. A. Bancroft's (Boston) draft on us, favor of himself, at 3 days' sight, to balance 
 a/e, 38.00. 
 
 9. 
 Bo't of W. A. Bancroft, Boston, 20 chests Y. H. Tea, 1200 lbs., @ 65c. Gave him in pfiyment, 
 check on College Bank, 500.00. Balance on "5fc. 
 
 10. 
 Paid Wells, Johnson & Co.'s sight draft on us, favor A. S. Briggs, by check on College Bank, 
 100.00. 
 
 Deposited cash in College Bank, 1500.00. 
 
 11. 
 
 Accepted H. W. Stevens' (Detroit) draft on us, at 30 days from Apr. 8th, favor Howe & Orton, 
 
 for 200.00. 
 
 12. 
 
 Sold Clark, Sons & Bradley, New York, on o/c, 10 chests Y. H. Tea, 600 lbs., @ 75c.; 6 mats 
 
 Java Coffee, 400 lbs., @ 32c. 
 
 13. 
 Prepaid note given Wells, J. & Co., Mar. 6. Face of note, 300.00; discount off to maturity, 
 
 25 days, 1.23. Paid balance by check on College Bank. 
 
 14. 
 
 Drew a draft on Clark, Sons & Bradley, New York, at sight, and remitted it to David Bailey, 
 
 on a/c, 300.00. 
 
 it 
 
 Paid our acceptance of 8th inst., favor. of W. A. Bancroft, due to-day, in cash, 38.00. 
 
 15. 
 Rec'd cash of Sickles, Stover & Jackson, on "Jfc, 50.00. 
 
THKOKETK'AL AND PRACTICAL BOOK-KEEPING. 
 
 47 
 
 188, p. 42. 
 
 Ex. 39, p. 
 14. 
 
 187, p. 42. 
 Ill, p. 37. 
 
 38, pa. H. 
 60, pa. 7. 
 
 76, pa. 7. 
 
 182, p. 41. 
 75, p. 27. 
 
 89, pa 6. 
 60, pa. 7. 
 
 47, pa. 6. 
 68, pa. 7. 
 24, pu. U. 
 
 69, pa. 7. 
 24, pa. 6. 
 
 39, pa. 6. 
 
 75, pa. 7. 
 60, pa. 7. 
 
 16. 
 
 Kee'd from Moure & Collins, Bullalo, to apply on "/c, their draft, at 3 days' sight, on L. M. 
 Horton, which Horton accepted, 300.00. 
 
 17. 
 Rec'd cash of Moore & Oollins for tiieir note of Mar. 25th, duo to-day, 130.30. 
 
 18. 
 Prepaid our acceptance of 11th inst., favor Howe & Orton. Face of acceptance, 300.00; dis- 
 count to maturity, 23 days. Paid balance in casli. (See Note No. 1, below.) 
 
 19. 
 Sold K. li. Barnard, CJity, on a/c, 50 l)bls. Salt, @ 2.55. 
 
 20. 
 Our acceptance of 7th inst., favor Andrews, due to-day, at College Bank, has been charged by 
 tlie Bank to our "jc. (See Note No. 2, below. ) ' 
 
 21. 
 F. W. Warren paid his note of 3d inst., and interest, due to-day, in cash. Face of note, 
 200.00; interest to date, 18 days. 
 
 Drew a draft at 60 days from date, on Sickles, Stover & Jackson, Detroit, and remitted it to 
 H. W. Stevens, on "{c, less discount. Face of draft, 100.00; discount off, 63 days. 
 Charged the balance to his '^c. 
 
 22. 
 
 Eec'd cash of L. M. Horton, for his acceptance of IGth inst., due to-day. 
 
 << 
 
 Paid Rent of Store in cash, 25.00. 
 
 23. 
 Rec'd of R. H. Barnard, his dote at 20 days, with interest, to apply on "jc, 50.00. 
 
 24 
 Student drew cash from the business, for his private use, 50.00. 
 
 25. 
 Drew a draft on F. W. Warren, Avon, at 30 days' sight, favor of ourselves, to balance 'Yc, and 
 sent draft to him to be accepted and returned. Amount of draft, 75.00. (This is simply 
 a memorandum; no journal entry is required until draft is returned.) 
 
 26. 
 Bo't of Beekman & Ordway, Phil'a, 20 hhds. N. O. Molasses, 1260 gals., @ 50c. Accepted 
 their draft on us, favor themselves, at 60 days' sight, 315.00. Balance on "je. 
 
 Deposited in College Bank, 1000.00. 
 
 27. 
 
 F. W. Warren returned draft accepted. Acceptance dated Apr. 26. (See Apr. 25, above. ) 
 
 Paid our note of 4th inst., favor Wells, Johnson & Co., and interest, due to-day, by check on 
 College Bank. Face of note, 400.00; interest to date, 23 days. 
 
 28. 
 Paid W. A. Bancroft, on "jc, by check on College Bank, 175.00. 
 
 29. 
 Paid Bookkeeper's Salary in cash, 75.00. 
 
 30 
 
 A fire in our store last night damaged our entire stock of Tea. No insurance. Sold the entire 
 lot to-day at auction for cash; 1300 lbs., @ 25c. 
 
 Discounted F. W. Warren's acceptance, received 37th inst., at College Bank. Face of accept- 
 ance, 75.00; discount off, 29 days. Rec'd cash for the proceeds. 
 
 Note No. 1. — Comijute Interest and Discount at 6 per cent., on a basis of 36.5 day.s for a year. 
 Note No. 2. — Since in the acceptance of this draft we made it payable at College Bank, the bunk charges 
 it to our account the same as a check. 
 
48 
 
 THEOKKTICAL AND PRACTICAL BOOKKEEPING. 
 
 INVENTORIES, APRIL 30, 188_ 
 
 Note. — Copy the Inventory in the form shown on page 31. 
 
 MDSE. 
 
 EXPENSE. 
 
 ( 50 bbls. Flour, @ 7.00; 30 bbLs. Sugar, 7500 lbs., @ llic; 
 \ 400 lbs. J. Coffee, @ 28c. ; 1260 gals. Molasses, @ 50c. 
 
 Office Safe, valued 10 ^ below cost. 250.00— 25.00=2;;5.00. 
 " Books, " 20 k '• " 50.00—10.00= 40.00. 
 
 - = Total, 1926 38 
 i = Total, 365 00 
 
 XoTE. — Before proceeding to post, draw up, on cup paper, and present to tlie teacher tor approval, the drafts referred 
 to in transiictions of April 11th, 14th, 16th and 27th. See forms of drafts, on pages 41, 42 and 4S. In posting, if an account 
 gets crowded for space, transfer it to a new page. See instructions (154, page 36) for transferring an account. Open 
 Leonard's account in tlie middle of page 1 in your Ledger. Give personal accounts hereafter one-fourtli of a page space; 
 other accoimts one-half of a page. 
 
 On May 1st Alex. Mitchell is to be admitted as a partner; yon may therefore make out Balance 
 Sheet similar to that for March. In the form of Balance' Sheet given below, only a few of tlie amounts 
 are extended, the student being required to complete the extensions, foot the columns and prove his 
 results, as indicated in the Summary below. (Refer to " Guide for making Balance Sheet for March,"' 
 on jiage 32, and also to "Trial Balance and Balance Sheet for March," on page 34.) Remember that 
 you are to foot the accounts in your Ledger in pencil, and carry the footings to the first two columns of 
 your Balance Sheet, and foot those columns, to ascertain whether your Ledger is in balance, before you 
 proceed to extend the Resources, Liabilities, Losses and Gains to the other columns. Should the first 
 two columns not foot equally — in other words, should your trial balance not prove — see note No. 2, 
 2iage 26. 
 
 BALANCE SHEET, APRIL 30, 188-. 
 
 Student, 
 
 D. W. Leonard, 
 
 Mdse. 
 
 H. AV. Stevens, 
 
 Expense, 
 
 Jas. T. Hoag, 
 
 Moore & Collins, 
 
 Wells, J. & Co. 
 
 Bills Payable, 
 
 Bills Receivable, 
 
 David Bailey, 
 
 W. A. Bancroft, 
 
 Interest, 
 
 Discount, 
 
 Sickles, S. & J. 
 
 Clark, Sons & B. 
 
 College Bank, 
 
 Cash, 
 
 R. H. Barnard, 
 
 Beekman & 0. 
 
 DB. rOOTING. CK. FOOTING. RESOURCES. LIABILITIES. 
 
 50 
 
 3943 
 398 
 400 
 
 905 
 
 96 
 
 30 
 
 51 
 
 5170 
 
 5170 
 
 1743 
 
 435 
 
 705 
 
 30 
 
 59 
 
 200 
 
 36 
 
 04 
 
 92 
 
 SUMMARY. 
 
 Total Losses, - - - - 
 '• Gains, - - - - 
 
 409 
 
 90 
 
 Student's Net Credit, 
 " ^ Net Loss, - 
 
 Present Worth, - 
 
 D. W. Leonard's Net Credit, 
 '■■ 1 Net Loss, 
 
 " Present Worth, 
 
 Present Wortli of Firm, - 
 
 5120 
 204 
 
 34 
 95 
 
 4915 
 4965 
 
 
 Net Loss, 
 
 Total Resources, - - - 
 '• Liabilities, - . - 
 
 409 
 
 11333 
 1452 
 
 90 
 
 07 
 29 
 
 5170 
 204 
 
 34 
 95 
 
 39 
 
 
 
 39 
 
 Present Worth of Firm, 
 
 9880 
 
 78 
 
 9880 
 
 78 
 
 
 
 1 
 
 ;XoTE — Only the accounts showing losses and gains and th<? partners' accounts are to be closed. See instructions on 
 next page. 
 
THKORE-nCAL AND PRACTICAL BOOK-KEEPING. 
 
 49 
 
 If tho accounts in yonr Ledger are correct, tlie difference between the Dr. and Cr. footings of tliose 
 accounts not extended in the iibove Biilanee Sheet will be as follows: Cash, 1129.51; Wells, J. & Co., 
 268.75; Bills Payable, 315; Moore & C, 02.50; Bailey, 412.50; Discount, 3Cc. ; Bank, 7083.24; Bancroft, 
 105; Clark, S. & B., 470.19; Sickles, S. & J., 20; Barnard, 77.50; Beekman & 0., 315; Hoag, 98.75. 
 
 CLOSE ONLY THE ACCOUNTS SHOWING LOSSES AND GAINS. 
 After completing your Balance Sheet for April, proceed to close in the Ledger those accounts only 
 which exhibit losses and gains, together with the Loss and Gain and Partners' accounts, in accordance 
 with the General Rules for Closing the Ledger, on pages 35 and 36. For assistance in closing Mdse., 
 see 145, page 35; Expense, 145, page 35; Interest, 148, page 35; Discount, 148, page 35; Loss and Gain 
 account (for partnership), 151, page 36; Stuient's and Leonard's accounts, 152, page 30. 
 
 Note. — Tlie debit and credit sides of your Ledger remain equal after closing the above mentioned accounts, the same 
 as though all the accounts liad been closed, since the amount entered to close an account was immediately transferred, 
 either to the opposite side of the account closed, or of some other account. The accounts which remain unclosed show 
 only Resources and Liabilities, the difference between which is the Present Worth, as exhibited by tlic partners' accounts. 
 
 Before proceeding with May, present your books to the teacher for approval, and be prepared lo answer the following 
 
 QUESTIONS FOR REVIEW. . 
 
 Page 41.—'" What is a Draft? '"-"« What are the parties to a draft called? '" How is the draft 
 employed? '*'"' State the three ways of drawing drafts in reference to time. '" What is meant by 
 "Acceptance" when applied to drafts? 
 
 Page 42. — '"'"" Give general rule for journalizing drafts when drawn on account. 
 
 54, pa. 7. 
 40, pa. 6. 
 
 47, pa. 6. 
 68, pa. 7. 
 
 MAY 1, 188-. 
 
 Alexander Mitchell has this day been admitted as a partner in the business of Student and 
 Leonard. The name of the new firm is to be Student, Leonard & Co. The gains and 
 losses are to be shared as follows: Student, f ; Leonard, |; and Mitchell, \. 
 
 Alex. Mitchell invests cash, 1000, and the store now occupied by the firm, valued at 3000. 
 
 J? 
 
 Sold Barton & Hathaway, Binghamton, 25 bbls. Flour, @ 8.40. Rec'd in payment, cash, 
 100.00. Balance on % 
 
 2. 
 Took out Policies of Insurance of 2,000.00 on store, and 5,000.00 on contents, for one year, 
 with A. S. Gatchell, agent. Paid premium on same in cash, 60.00. 
 
 ?j 
 
 Bo't of Crouse Bro's, Syracuse, 100 bbls. Salt, @ 2.15. Accepted their draft on us, at 15 
 days' sight, payable at College Bank, for same. 
 
 4. 
 Sold Gates & Sheldon, on their note at 20 days, with interest, 50 bbls. Salt, @ 2. 60. 
 
 6. 
 Paid H. W. Stevens, cash to balance "jc. (See note below.) 
 
 7. 
 Bo't of Henry D. French, Buffalo, 25 bbls. Beef, @ 14.25; 30 bbls. Pork, @ 11.50. Gave 
 him in payment, our note at 15 days, with interest, 345.00. Balance on "jc. 
 
 9. . 
 
 Rec'd cash of Moore & C, for their note of April 0, due to-day. (See note below.) 
 
 10. 
 Paid W. A. Bancroft's sight draft on us, by check on College Bank, 50.00. 
 
 Note. — Student will find it necessary, hereafter, to consult his books, to ascertain amounts left blank in 
 the record, such as balances due on personal accounts, which will be found in the Ledger if the work his 
 all been posted; also particulars regarding notes, which will be found in the Day Book record at tlie tim^ot 
 giving or receiving them. 
 
60 
 
 no, p. 27. 
 112, p. 27. 
 
 23, pa. 6. 
 
 54, pa. 7. 
 m, p. 27. 
 
 67, pa. 7. 
 76, pa. 7. 
 Ul, p. 27. 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING, 
 
 12. 
 
 Deposited in College Bank cash 100.00. 
 
 14. 
 
 Bo't a draft on New York, 200.00, at ^ ^ exchange. Paid for same by check on College Bank, 
 200.50. Kemitted draft to Beekman & Ordway, on "je. 
 
 16. 
 Eec'd cash of Sickles, Stover & Jackson, to balance "jc (see note bottom page 49). 
 
 Rec'd cash of R. H. Barnard, for his note of Apr. 23d, and interest, due to-day. 
 
 18. 
 Sold E. F. Sharpsteen, Elmira, 630 gals. N. 0. Molasses, @ COc; 2500 lbs. Sugar, @.13ic. 
 Rec'd in payment, his note at CO days, indorsed by B. W. Crossman, 378.00. Balance 
 on f^c. (See forms of Indorsement, page 159.) 
 
 20. 
 Our acceptance of 2d inst., favor Grouse Bro's, due to-day, has been charged to our "je at 
 College Bank. 
 
 Rec'd cash of Barton & Hathaway, to apply on "jc, 50.00. 
 
 21. 
 Prepaid our acceptance of Apr. 26th, favor of Beekman & 0., by check on College Bank. 
 Face of acceptance, 315. 00; discount to maturity, 38 days. 
 
 24. 
 Paid cash for permanent repairs on store, 100.00. (Debit Real Estate.) 
 
 25. 
 Paid our note of 7th inst., and interest on same, due to-day, in cash. Face of note, 345.00; 
 
 interest to date, 18 days. 
 
 • 26. 
 
 Rec'd of Jas. T. Hoag, his check on Traders' Bank, to apply on °je, 50.00. 
 
 J? 
 D. W. Leonard drew from the business, for his private use, by check on College Bank, 100.00. 
 
 27. 
 Gates & Sheldon paid their note of 4th inst., and interest, due to-day, in cash. 
 
 28. 
 Sold Moore & Collins, on % 10 bbls. Beef, @ 17.25; 10 bbls. Pork, @ 14.00. 
 
 29. 
 Paid Wells, J. & Co.'s draft on us, at 60 days' sight, 200.00, less discount, 63 days, by check 
 on College Bank. 
 
 Sold Clark, Sons & Bradley, on % 20 bbls. Sugar, 5000 lbs., @ 12ic. 
 
 30. 
 
 Bo't of David Bailey, 10 bbls. Sugar, 2500 lbs., @ ll^c. Paid him cash, 100.00; check on 
 
 College Bank, 100.00. Balance on % 
 
 31. 
 
 Paid Bookkeeper's Salary for month in cash, 75.00. 
 
 Deposited in College Bank, Iloag's check, rec'd 26th inst., 50.00; and cash, 1500.00. 
 
 Note. — You may now journalize, post and take trial balance. Should your trial balance not prove, see 
 note No. 2, page 26. In po.sting, when an account balances in your Ledger, rule it up at once. Before an 
 account becomes too mucli crowded for space, rule it up and transfer to a new account, as instructed in 154- 
 155, page 36. Foot the accounts in pencil, as instructed heretofore for taking trial balance. You need not 
 make a Balance Sheet this mouth, nor close any of the accounts in the Ledger. The difference between the Dr. 
 and Cr. .sides of a few of the principal accounts are here given: Wells, J. & Co., 68 75; Bills Payable, balances; 
 Discount, 4 04; College Bank, 7556.78; Cash, 313.13; Clark, Sons & B,, 1113.94- Mdse , 1124.63, Expense, 
 400.50; Bills Receivable, 378.00; Interest, 34c. If your trial balance proves your Ledger to be In balance, and 
 your accounts agree with the balances given above, you may proceed with .June. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 51 
 
 no, p. 27. 
 T5, pa. 7. 
 80, pa. 7. 
 
 JUNE 1, 188-. 
 
 Discounted, at College Bank, Sliarpsteen's note, rec'd May 18th. Discount off to maturity. 
 Proceeds placed to our credit. (See Note No. 1, below.) 
 
 2. 
 Sold F. W. Warren, on ^^c, 5 bbls. Sugar, 1350 lbs., @ 12|c. 
 
 Paid Henry D. French's sight draft on us, by check on College Bank, 300.00. 
 
 3. 
 Kec'd cash of Clark, Sons & Bradley, on % 400.00. 
 
 5. 
 Sold A. & D. Farwell, Canton, 10 bbls. Beef, @ 16.25; 10 bbls. Pork, @ 13.50; 10 hhds. 
 N. 0. Molasses, 630 gals., @ 60c. Kec'd in payment, their note at 10 days, with interest, 
 150.00. Balance on <^. 
 
 6. 
 Accepted David Bailey's draft at 30 days, favor Marsh & Co., to balance "fc. 
 
 7. 
 Bo't of Beekman & Ordway, on "fc, 5 hhds. N. 0. Molasses, 315 gals, @ 55c. 
 
 8. 
 Eec'd of R. H. Barnard, his check on First National Bank, to balance "^. 
 
 9. 
 Eec'd of E. F. Sharpsteen, his note at 30 days, indorsed by B. W. Crossman, on '^c, 250.00. 
 
 12. 
 Bo't of Henry D. French, 25 bbls. Beef, @ 14.25. Accepted his draft on us at 10 days, for 
 
 175.00. Balance on a/c. 
 
 13. 
 
 Deposited in College Bank Barnard's check, rec'd 8th inst. 
 
 14. 
 Sold Sickles, S. & J., 25 bbls. Flour, @ 8.25; 1250 lbs. Sugar, @ 135c. Rec'd in payment, 
 cash, 50.00; their note at 45 days, 75.00. Balance on"/c. 
 
 15. 
 Drew a draft on Barton & H., Binghamton, at 90 days, to balance their (Jc. Had the draft 
 discounted at College Bank, and rec'd credit for proceeds. 
 
 16. 
 Paid W. A. Bancroft, cash to balance "/e, 55.00. 
 
 Note No. 1. — From June 1, the day tlie above note is discounted, to July 20, its maturity, the time is 49 
 days, counting the actual number of days. The student will remember that if the time is in days, 365 days, or 
 if the time is in months, 13 months for a year, are to be taken as a basis in compulmg interest and discount, 
 unless otherwise specified. 
 
 When paper is drawn in months, the practice differs, somewhat, with places and individuals, as to 
 the manner of finding time, and compiiiing interest and disconnt. For the sake of uniformity and accu- 
 racy, the method explained below will be observed throughout (his book. To illustrate: A note of $500, 
 dated May 17, at 4 months, is discounted June 23. The time between June 33, the day the note is discounted, 
 
 , o . u oA .1, . •. f ii, . \^ mo. 20 da. ) The discount for 2 months is 5.00 
 and September 20, the matunty of the note, ig .. as " C " " " 27 davs "2 22 
 
 2 mo. 27 days = 7.23 
 
 If the note to be diacoiinted is an interest bearing note, first compute the interest upon the face of 
 the note from the date it begins to draw interest to maturity; then add the interest to the face of the note, 
 and compute discount upon the amount thus obtained, from the date of discounting the note to its rpiiturity. 
 The face, plus the interest, minus the discount, will be the proceeds of the note. 
 
52 
 
 THEOKETIOAL AND PRACTICAL BOOK-KEEPING. 
 
 59, pa. 7. 
 
 75, pa. 7. 
 
 23, pa. 6. 
 
 48, pa. 6. 
 
 23, pa. 6. 
 75, pa. 7. 
 60, pa. 7. 
 Ul, p. 27. 
 
 17. 
 
 Sold Jas. T. Hoag, 400 lbs. J. Ccflee, @ 35c.; 25 bbls. Beef, @ 16.50. Eec'd in payment, a 
 note made by Clias. II. Fisher, in Hoag's favor, dated Mar. 2otli last, at 90 ds. with 
 interest, 275.00. Accrued interest allowed him. Balance on <yc. (See note No. l,1Jelow.) 
 
 18. 
 A. & D. Farwell jmid their note of 5th inst., and interest, due to-day, in cash. 
 
 19. 
 Drew sight draft on F. W. Warren, Avon, and deposited in College Bank to our credit. 
 Amount of draft, 50.00; Bank's charges for collecTion. 25c. Balance to our credit. 
 
 20. 
 Sold E. F. Sharpsteen, on "jc, 5 hhds. N. 0. Molasses, .315 gals., @ 62 Jc. 
 
 21. 
 Student drew cash from the business, for his own use, 75.00. 
 
 22. 
 Paid Henry D. French, the note rec'd of Sickles, S. & J., 14th inst., 75.00. Discount to 
 maturity allowed him. Gave him our check on College Bank, to balance his «/c. 262.99. 
 
 23. 
 The draft drawn on Warren, 19th inst., was to-day returned protested for non-payment. Pro- 
 test fees, 1.25. Gave the Bank a check to cover draft and fees, 51.25. (See Note No. 2, 
 below. ) 
 
 24. 
 
 Accepted Beekman & Ordway's draft on us, at 30 days' sight, favor of themselves, 150.00. 
 
 25. 
 Eec'd cash of E. P. Sharpsteen, on % 131.25. 
 
 ?j 
 
 Paid our acceptance of 12th inst., favor of French, by check on College Bank. 
 
 Deposited in College Bank, cash, 500.00. 
 
 29. 
 
 Paid our acceptance of 6th inst., favor of Marsh & Co., by check on College Bank. 
 
 30. 
 Paid Bookkeeper's Salary in cash, 75.00. 
 
 Note No. 1. — As this note has been drawing interest since March 25tli, it is worth considerably more tlian 
 its face at tliis time. 
 
 Note No. 2. — The fees, under some circumstances, might properly be charged to "Warren's account; but in 
 this case we charge them to Expense account. 
 
 INVENTORIES, JUNE 30, 188-. 
 
 MDSE. 
 50 bbls. Salt, @ 2.15; 5 bbls. Beef, @ 14.25; 10 bbls. Pork, @ 11.50. Total Mdse. Invt.,.. 293 75 
 
 REAL ESTATE. 
 Store, owing to advance in Real Estate, estimated to be worth at present time 3500 00 
 
 EXPENSE. 
 
 Office Safe and Office Books, valued at- 200 00 
 
 Insurance, 10 months unearned premium, 50 00 
 
 250 00 
 
 Leonard and Mitchell propose to buy Student's interest in the business, and pay him cash, as his 
 Present Worth shall show upon closing the Ledger, they assuming all the resources and liabilities of 
 the old firm. Student agrees to the proposition, as he is desirous of engaging in the Produce and 
 Commission business on July 1st. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPINO. 
 
 53 
 
 You may therefore make out a Balance Sheet, showing the exact condition of the business, as 
 heretofore instructed. 
 
 The difference between the Dr. and Cr. sides of a few of the principal accounts in your Ledger, 
 independent of inventories, should be as follows: Bills Payable, 150.00; Discount, 41c.; Cash, 
 339.70; Mdse., 292.63; Expense, 477.00; Bills Eeceivable, 5-^5.00; Interest, 3.82; College Bank, 
 7428.83. 
 
 If correct, the results exhibited by your Balance Sheet should be as follows: 
 
 SUMMARY. 
 
 Total Gains, .... 
 " Losses, .... 
 
 98G 
 231 
 
 38 
 23 
 
 Student's Net Credit, 
 f Net Gain, 
 
 Present Worth, 
 
 D. W. Leonard's Net Credit, 
 
 f Net Gain, - 
 
 Present Worth, 
 
 Alex. Mitchell's Net Credit, 
 
 " i Net Gain, - 
 
 " Present Worth, - 
 
 Present Worth of the Firm, - 
 
 4840 
 302 
 
 39 
 06 
 
 5142 
 5167 
 4151 
 
 
 Net Gain of Firm, ... 
 
 755 
 
 15 
 
 48C5 
 302 
 
 4000 
 151 
 
 39 
 06 
 
 00 
 03 
 
 45 
 
 Total Resources, - - - 
 " Liabilities, . - - . 
 
 14817 
 357 
 
 93 
 
 00 
 
 
 Present Worth of the Firm, - 
 
 14460 
 
 93 
 
 45 
 
 
 
 
 
 
 
 03 
 
 
 14460 
 
 93 
 
 After completing Balance Sheet, balance and rule up all of the accounts in the Ledger. (See 
 General Eules for Closing the Ledger, page 35; also see closed Lodger, on pages 38 and 39). After 
 completing the work, present your books to the teacher lor inspection; also i)rcparo fur examination 
 upon all the work passed over, as outlined by the following: 
 
 QUESTIONS FOR REVIEW 
 
 Page 5. — ' What is Book-keeping? ^ The object of it? '"^ How many methods, and what are they? 
 'What are the princii)al books used? ' Describe the Day Book. ' When should the record be made in 
 the Day Book? * Why? ' Describe the Journal. '° What is journalizing? "What must be the condi- 
 tion of the debits and credits in every journal entry? "'" IIow may the Day Book and Journal be 
 combined? """ Describe the Ledger. " What is an account? """ How many sides has an account, and 
 what called? ^ What is posting? *^ How many kinds of accounts in Double Entry? 
 
 Page 6. — '^'* Give the general rules for journalizing. " Into what two general classes are the three 
 kinds of accounts divided? ™ When does an account exhibit a Loss? ''When a Gain? '* When a 
 Resource? ^ When a Liability? " Upon which side' is the excess when an account shows a Resource? 
 ** When it shows a Loss? " When it shows a Gain? '' When it shows a Liability? '*"" Give the rule 
 for journalizing the Proprietor's account. "* What title is sometimes used in place of the proprietor's 
 name? '""Give the rule for Cash. '"What is included, usually, under this title? ^MVhen there is 
 any difference in this account, Avhich side will always be greater? *"' Why? *"' What is the difference^ 
 and what does it show? ""''Give the rule for Mdse. '"What is usually included under this title? 
 " What exception to including all goods under the general heading Mdse. 
 
 Page 7. — '" To what other accounts will the rule for Mdse. apply? """ Give the rule for Expense. 
 " What is usually included under this title? " What exceptions to including all such items under the 
 general heading Expense? "'"Give the rule for Bills Eeceivable. 'MVhat is usually included under 
 this title? '* Which side of the account will always be greater, when there is any difference? " Why? 
 "-"What is the difference, and what does it show? " When will the account balance ? Why? "'** Give 
 the rule for Bills Payable. "What is included xinder this title? '"Which side of the account will 
 always be greater, when there is any difference? " Why? "-" What is the difference, and what does it 
 show? " When will the account balance? Why? """ Give the rule for Interest and Discount. " What 
 is Interest? ™ What is Discount? *» To what other accounts will the rule for Interest and Discount 
 apply? 
 
54 TflEORETICAL AND PRACTICAL BOOK KEEPING. 
 
 Page 20.—*' What is a Trial Balance? ""** Why does the trial balance not prove the work abso- 
 lutely correct? "■** Explain footing the accounts for taking a trial balance. '* When may an account 
 be omitted from tlie trial balance ? 
 
 Page 21. — " AVhat is tlie character of the error, generally, when it is an even $1, $10, $100, $1000, 
 etc. ? '*'" How could an error be made in transferring from the Ledger to the trial balance? " If an 
 amount has been omitted in posting, what effect will it have upon the trial balance? '°° What if posted 
 to tlie wrong side of the Ledger? '"* How may the error have been caused, if it is divisible by 9? 
 103-107 Explain the steps to be taken in reviewing the work, when this course is found necessary in order 
 to detect the error. "*""* In examining the posting, why is it necessary to place a check mark in the 
 Ledger? 
 
 Page 27. — '"*"'" Give the rule for journalizing Bank account. '" How should the checks of other 
 persons in your hands be treated? 
 
 Page 31. — '"What does an Inventory generally represent? "M¥hat may it represent? '"What 
 will an inventory show in each case? '" How is an inventory usually taken? '" What price is generally 
 placed upon the goods? '" In what other way may an inventory be found? 
 
 Page 32. — '" For what purpose is a Balance Sheet made? '"Describe the balance sheet. ""Into 
 which column is the difference between the Dr. and Cr. footings of Cash extended? Wliy? '^' Why is 
 the Mdse. inventory entered in the Eesource column? '-'""* Explain both methods of finding the gain 
 on Mdse. account, when there is an inventory. "^ When the Cr. side of a person's account is larger 
 than the Dr., to which column is the difference extended? Why? "'When the Dr. footing is the 
 larger? 
 
 Page 33. — '^ How is tlie actual loss on Expense account ascertained, when there is valuable prop- 
 erty on hand, whicli was originally debited to the Expense account? ™ What does tlie difference in 
 the Bills Payable account show? Why? "° In the Bills Eeceivable account? Why? '" If the Cr. side 
 of Interest or Discount is larger than the Dr., why is the difference a gain? "' If the Dr. side is larger, 
 why is the difference a loss? "^ What does the difference in Eeal Estate account show? Why? '" In 
 Bank account? Why? 
 
 Page 34. — What is tlie difference between the total gains and total losses called? (Summary; see 
 also 135, page 33.) Give the two ways of finding the Present Worth of tlie proprietor. (Summary; see" 
 also 136, page 33.) When the liabilities exceed the resources, what is the difference called? (See 137, 
 page 33.) 
 
 Page 35. — '^''^What accounts is it necessary to close to cause the proprietor's account to show its 
 true relation to the business? '*°Why is it not necessary, for this purpose, to close the remaining 
 accounts? '**In closing the Ledger, why are the personal accounts usually not closed? '""'"How are 
 accounts showing losses and gains having inventories, closed? "'How if they have no inventories? 
 "^How are accounts showing resources and liabilities closed? 
 
 Page 36. — '^' How is the Loss and Gain account to be closed? How in case of a partnership? 
 "'How is the Proprietor's account to be closed? '"In ruling, what kind of ink is to be used? 
 '"-'"When the space assigned to an account has been filled, how is the account transferred? "' What 
 do red ink entries in the Ledger indicate? 
 
 Page 37. — "'-'"After the Ledger has been closed, what is shown by the balances that have been 
 carried down below the rulings of the various accounts? 
 
 Page 40. — "'""*' In closing the accounts, why has the equality of the Ledger not been disturbed? 
 161-162 jjo^ (Jo yon prove the closed Ledger to be in balance? 
 
 Page 41.—"' What is a Draft? '"""' What are the parties called? "' What is the advantage of the 
 draft ? "*"'" How drawn with reference to time ? '" For what are Sight Drafts presented to the 
 Drawee? '"Time Drafts? """What is meant by Acceptance, and how made? '" AVhen is it not 
 necessary to date the acceptance? '" When does the Drawee become legally responsible to the Payee? 
 118-179 jjow may a draft be drawn so that one of the parties shall sustain a double relation to it? 
 180-181 Explain the use of Bank Drafts? "' Give Drawer's entry when he draws a draft and remits it to 
 Payee on account. "^ When he disposes of it for cash, less discount. 
 
 Page 42. — "* Give Drawee's entry when he accepts a draft drawn on him. "' When he pays sight 
 draft on him in cash. '*' When he prepays draft, less discount, instead of accepting it. '«' When he 
 pays his acceptance at maturity. "* Give Payee's entry when he receives time draft from Drawer on 
 account. "' When Drawee prepays draft, less discount, instead of accepting it. ""' When he buys draft 
 for cash, less discount. '"'*' Give general rule for journalizing drafts when drawn on account. 
 
THKORETICAL AND PKACTICAL BOOKKEEPING. 
 
 55 
 
 NoTK. — Before proceeding with the montli of July, study carefully the following explanations and examples. 
 
 SHIPMENTS. 
 
 Dr. 
 
 '" Shipment is debited at the time the property 
 is shipped, for its estimated value (usually its cost), 
 and for all expenses. 
 
 Cr. 
 
 '** Shipment is credited at the time of receiving 
 an account sales, for the net ])roceeds. 
 
 "' When property is shipped to bo sold on commission, the person who shijis it opens an account 
 upon his books with " Shipment," to represent the property which has passed from his possession, but 
 not from his ownership. '°° To distinguish different shipments, the name of the place or party is 
 generally used with the number of the shipment, thus: "Shiptaent to Detroit, No. 1," "Shipment 
 to Brown & Co., Baltimore, No. 3," etc. '"The person who shijjs the jiropcrty is called the "Con- 
 signor." "* After the property has been disposed of, a statement showing the sales and all the charges 
 is rendered to the Consignor. Such a statement is called an "Account Sales." "'The difference 
 between the sales and all the charges is called the "Net Proceeds." '""After the Shipment has been 
 credited with the net proceeds, it will show either a gain or a loss. '"' If a statement of the business 
 were to be made before receiving an account sales, the value of the shipment would be treated as a 
 resource inventory. 
 
 CONSIGNMENTS. 
 
 Dr. 
 
 "' Consignment is debited for all charges paid 
 when the property is received, and also for all 
 subsequent charges, and for the net proceeds at 
 the time of rendering the account sales. 
 
 Cr. 
 ^ Consignment is credited for all sales of prop- 
 erty belonging to it. 
 
 *** When property is received to be sold on commission, the party receiving it opens an account 
 upon his books with "Consignment," to represent the property which has come into his possession, 
 but not his ownership. *"' To distinguish different consignments, the name of the Consignor is gener- 
 ally used and the number of the consignment, thus: "J. D. Winslow's Consignment No. 2," etc. 
 '"' The party who receives the property is called the " Consignee." "" After the closing entry has be^n 
 made, debiting the consignment for the final charges and net proceeds, the consignment will balance. 
 '°* If a statement of the business were to be made before closing the consignment, and the charges 
 upon it to the time of the statement exceeded the sales, the difference would be a resource. "" If the 
 sales exceeded the charges, the difference would be a liability. 
 
 EXAMPLE No. 42. 
 
 DAY BOOK RECORD. 
 
 ITEMS. 
 
 TOTAI,. 
 
 
 
 2500 
 6 
 
 25 
 
 2506 
 
 25 
 
 
 
 JOURNAL ENTRY FOR SAME. 
 
 DR. 
 
 Shipped AVood & Martin, 
 Palmyra, to be sold on 
 our account and risk, 
 2000 bu. R. Wheat, @ 1.25, 
 Paid insurance in cash. 
 
 Ship't to W. & M., Palmyra, 
 No. 1, 
 
 To Mdse. 
 Cash, 
 
 2506 
 
 i 
 
 25 
 
 2500 
 6 
 
 25 
 
 Shipment is debited for the vahie of the property and also for the expense of insuring same. 
 (See 193, page 55.) 
 
 EXAMPLE No. 43. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOR SAME 
 
 Rec'd an account sales of 
 the shipment made Wood 
 & Martin, 
 
 Our net proceeds remitted 
 in cash. 
 
 2850 
 
 Cash, 
 
 To Sliip't to W. & M., 
 Palmyra, No. 1, 
 
 2850 
 
 2850 
 
 Shipment is credited for the net proceeds (see 194, page 55). In this case Shipment shows a gain, 
 the net proceeds being greater than the cost (see 200, page 55). 
 
u 
 
 THEOKETICAL AND PRACTICAL BOOKKEEPING 
 
 EXAMPLE No 44 
 
 DAT BOOK RECORD. 
 
 ITEMS. 
 
 TOTAL. 
 
 
 
 1250 
 50 
 
 
 1300 
 
 
 
 
 JOURKAL ENTRY rOR SAME. 
 
 DR. 
 
 Shipped J. D.Welch, New 
 Vernon, to be sold on 
 our account and risk, 
 50C bbls, Apples, @ 2.50, 
 Paid freight in cash. 
 
 Ship't to J D. W., New 
 Vernon, No. 1, 
 
 To Mdse. 
 Cash, 
 
 1300 
 
 1250 
 50 
 
 EXAMPLE No. 45. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOB SAME. 
 
 Eec'd an account sales of 
 the shipment made J. 
 D. Welch, 
 
 Our net proceeds credited, 
 
 1225 
 
 J. D. Welch, 
 
 To Ship't to J. D.W., New 
 Vernon, No. 1, 
 
 1225 
 
 1225 
 
 In this ease the Shipment shows a loss, the net proceeds being less than the cost. (See 200, 
 page 55.) 
 
 EXAMPLE No. 46. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Rec'd from Church & Co., 
 Toledo, to be sold on 
 their account find risk, 
 
 5000 bu. W. Oats. 
 
 Paid freiglit in cash. 
 
 1 
 
 
 200 
 
 
 
 
 Church & Co.'s Consign- 
 ment No. 1, 
 
 To Cash, 
 
 200 
 
 200 
 
 Consignment is debited for the charges paid on the jjroperty at the time it is received. (See 202, 
 page 55.) 
 
 EXAMPLE No. 47. 
 
 DAY BOOK RECORD. JOURNAL ENTRT FOR SAME. 
 
 Sold E. B. Prye, for cash, 
 from Church & Co.'s 
 Consignment No. 1, 
 
 5000 bu. Oats, @ 42c., 
 
 
 
 2100 
 
 
 
 
 Cash, 
 
 To Church & Co.'s Con. 
 No. 1, 
 
 2100 
 
 2100 
 
 Consignment is credited for all sales made from it. (See 203, page 55.) 
 
 EXAMPLE No. 48. 
 
 DAY BOOK RECORD. 
 
 JOURNAL ENTRY FOB SAME. 
 
 Closed Church & Co.'s 
 Con. No. 1, and ren- 
 dered an account sales. 
 Storage, at -Jc. per bu., 
 Commission, 2 ^ on sales, 
 Church & Co.'s net pro- 
 ceeds remitted in cash. 
 
 25 
 42 
 
 1833 
 
 
 1900 
 
 
 
 
 Church & Co.'s Consign- 
 ment No. 1, 
 
 To Storage, 
 Commission, 
 Cash, 
 
 1900 
 
 25 
 
 42 
 
 1833 
 
 Consignment is debited at the time of rendering the account sales> for the charges and the net 
 proceeds (see 202, page 55). The net proceeds of the above consignment are found by deducting all 
 charges from the sales, as follows: (Ex. No. 46) Freight, 200; (Ex. No. 48) Storage, 25; Commission, 
 42; Total charges, 267. Total sales (Ex. No. 47), 2100; leaves the Net Proceeds, 1833 (see 199, page 
 55). The above consignment will balance, because in Ex. No. 46 it is debited 200, in E.x. No. 48 1900, 
 and m Ex. No. 47 it is credited 2100 (see 207, page 55). 
 
THEORfiTlCAL AND PliACTtCAL BOOK-KEEPING. 
 
 EXAMPLE No. 49. 
 
 DAT BOOK RECORD. 
 
 ITEMS. TOTAL. 
 
 JOURKAL ENTRY FOR SAME. 
 
 DR. 
 
 fe7 
 
 Eec'd from H. G. Lyman, 
 Ovid, to be sold on his 
 account and risk, 
 
 1000 bu. S. Wheat,. 
 
 Paid freight in cash, 
 
 50 
 
 II. G. Lyman's Consign- 
 ment No. 1, 
 
 To Cash, 
 
 50 
 
 50 
 
 DAT BOOK RECORD. 
 
 EXAMPLE No. 50 
 
 JOURNAL ENTRT FOR SAME. 
 
 Sold Boyd & Son, on % at 
 30 days, from Lyman's 
 Consignment No. 1, 
 
 500 bu. S. Wheat, @ 1.40, 
 
 
 
 700 
 
 
 
 
 Boyd & Son, 
 
 To Lyman's Consignment 
 
 No. 1, 
 
 700 
 
 700 
 
 DAT BOOK RECORD. 
 
 EXAMPLE No. 51. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Paid cartage, in cash, on 
 500 bu.Wheat, sold Boyd 
 & Son, from Lyman's 
 Con. No. 1, 
 
 10 
 
 Lyman's Consignment No. 
 
 1, 
 
 To Cash, 
 
 10 
 
 10 
 
 DAT BOOK RECORD. 
 
 EXAMPLE No. 52. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Sold G. E. Seney, on his 
 note at 30 days, from 
 Lyman's Con, No. 1, 
 
 300 bu. S. Wheat, @ 1.45, 
 
 435 
 
 Bills Eec'v, 
 
 To Lyman's Consignment 
 No. 1, 
 
 435 
 
 435 
 
 DAT BOOK RECORD. 
 
 EXAMPLE No. 53. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Ee-shipped the 200 bu. 
 Wheat unsold of Ly- 
 man's Con. No. 1, per 
 his instructions, to E. 
 B. Phelps, Fairport. 
 
 Paid cartage on same in 
 cash. 
 
 
 
 3 
 
 50 
 
 
 
 Lyman's Consignment No. 
 
 1, 
 
 To Cash, 
 
 50 
 
 50 
 
 EXAMPLE No. 54. 
 
 DAT BOOK RECORD. 
 
 JOURNAL ENTRT FOR SAME. 
 
 Closed Lyman's Consign- 
 ment No. 1, and ren- 
 dered an account sales. 
 Storage, at Ic. per bu.. 
 Commission, 2 ^ on sales, 
 H. G. Lyman's net pro- 
 ceeds placed to his 
 credit. 
 
 10 
 
 
 
 
 
 
 22 
 
 70 
 
 
 
 
 
 1038 
 
 80 
 
 1071 
 
 50 
 
 
 
 Lyman's Consignment No. 
 
 To Storage, 
 Commission, 
 H. G. Lyman, 
 
 1071 
 
 50 
 
 10 
 
 22 
 
 1038 
 
 70 
 
 80 
 
 The net proceeds of the above consignment are found bv deducting all of the charges from the 
 sales, as follows: (Ex. No. 49) Freight, 50; (Ex. No. 51) Cartage, 10; (Ex. No. 53) Cartage, 3.50; 
 (Ex. No. 54) Storage, 10; Commission, 22.70; total charges, 96.20. Sales, (Ex. No. 50) 700; (Ex. No. 
 52) 435; total sales, 1135. Leaves the Net Proceeds, 1038.80. 
 
 Note. — In tlie Commission business, a book called the Sales book is usually kept, in which all entries relating to 
 Consignments are made and posted directly to the Ledger. The Sales Book is not to be used in the business o£ the two 
 following months, but will be explained and illustrated hereafter. 
 
58 
 
 THEORETICAL AND PKAOTlCAL BOOK-KEEPING. 
 
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 -i*£?i 
 
 
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*rilEORETlCAT. AND PRACTICAL SOOR-KfeEMNG. 
 
 59 
 
 Ex. <», P 
 56. 
 
 Ex. 44, p. 
 
 56. 
 
 Ex. 49, p. 
 
 57. 
 
 Ex. 52, p. 
 57. 
 
 Ex. 45, p. 
 
 56. 
 
 JULY 10, 188—. 
 
 Closed Clark's Con. No. 1 and rendered an <^ Sales. Storage, lcp?r1)H., .5.00. Com- 
 mission, 2^ on sales, 15.00. Net proceeds remitted to hiai in cash, 700.00. 
 
 Paid Dodge & Hardy's Bill for Office Books and Stationery in cash, 31.25. 
 
 11. 
 Shipped Dow & Todd, Lodi, to be sold on my account and risk, 250 bu. W. Oats, @ 45o. Paid 
 
 cartage in cash, 2.00. 
 
 12 
 
 202, p. 55. 
 205, p. 55. 
 
 303, p. 55. 
 
 Ex. 54, p. 
 
 57. 
 
 193, p. 55. 
 196, p. 55. 
 
 203, p. 55. 
 
 23, pa. 6. 
 60, pa. 7. 
 
 202, p. 55. 
 
 193, p. 55. 
 
 Bo't of Wm. B. Hoyt, on my note at 10 days, with interest, 3500 bu. Barley, @ 90c. 
 
 13. 
 Rec'd from W. J. Corning, Waterloo, to be sold on his account and risk, 1000 bu. White Wheat. 
 Paid freight in cash, 65.00. 
 
 15. 
 
 Sold N". C. Hubbard, on his note at 5 days, from Coming's Con. No. 1, 400 bu. W. Wheat, @ 
 1.40. 
 
 16. 
 Paid J. C. King cash on <f:, 300.00. 
 
 Rec'd from Dow & Todd, Lodi, an Account Sales of the shipment made them 11th inst. Net^^ 
 proceeds to my credit, 102.75. 
 
 17. 
 Sold Jno. D. Mason, Richfield, on <^, 250 bu. AV. Oats, @ 50c.; 1500 bu. Barley, @ 1.00. 
 
 18. 
 Rec'd from J. B. Clark, Clyde (2d consignment), to be sold on his account and risk, 300 bu. 
 Red Wheat. Paid Freight in cash, 18.00. 
 
 19. 
 Sold Rob't G. Laidlaw, on <yc, at 10 days, from Coming's Con. No. 1, COO bu. W. Wheat, @ 
 1.42. 
 
 Closed Coming's Con. No. 1, and rendered an Account Sales. Storage, at Ic. per bu., 10.00, 
 Commission, 2 ^ on sales, 28.24. W. J. Coming's net })roceeds placed to his credit, 
 1308.76. 
 
 21. 
 
 Shipped G. H. Wheeler, Bristol (2d shipment), to be sold on my account and risk, 500 bu. W. 
 Oats, @ 45c.; 500 bu. Barley, @ 90c. 
 
 22. 
 Sold for cash, from Clark's Con. No. 2, 100 bu. R. Wheat, @ 1.35. 
 
 23. 
 N. C. Hubbard paid his note of 15th inst. in cash. Remitted the cash to W. J. Corning on ^. 
 
 ,24. 
 Bo't of C. D. Mathews, on my note at 25 days, with interest, 3000 bu. Mixed Oats, @ 40c. 
 
 ?? 
 
 Rec'd from Morey & Co., Richmond, to be sold on their account and risk, 800 bu. Corn. Paid 
 Freight in cash, 60.00. 
 
 25. 
 Paid my note of 12th inst. in cash. 
 
 »? 
 
 Shipped M. & D. Fisher, Easton, to be sold on my account and risk, 2000 bu. Mixed Oats, @ 
 40c.; 1500 bu; Barley, @ 90c. Paid Insurance in cash, 10.75. 
 
 26. 
 Rec'd from G. H. Wheeler, Bristol, an Account Sales of the shipment made him 21st inst. 
 My net proceeds remitted in cash, 798.99. 
 
 jj ~ 
 
 Rec'd cash of Dow & Todd, in full of "fr. 
 
eo 
 
 THEORETICAL AXD PRACTICAL BOOK-KEEPING. 
 
 184, p. iS 
 
 S9, pa. 7. 
 24, pa. 6. 
 
 27. 
 Accepted W. J. Coming's draft on me at 15 days' sight, to apply on "fc, 500.00. 
 
 29. 
 Sold for cash, from Clark's Con. No. 3, 100 bu. E. Wheat, @ 1.37. 
 
 30. 
 Kec'd of R. G. Laidlaw, his note at 20 days, with interest, to balance <fc. 
 
 31. 
 Paid Eent of Warehouse for the month, 50.00, and Laborer's services in full, 25.00, in cash. 
 
 INVENTORIES, JULY 31, 188-. 
 
 M DSE.— 1000 bu. Barley, @ 90c. ; 1000 bu. :M. Oats, @ 40c. Total, 1300 00 
 
 SHIPMENT to M. & P. Fisher, Easton, No. 1, 2160 76 
 
 Note.— Journalize and post. Open a separate account for each Shipment and for each Consignment. Give Cash 
 account one page space; Mdse. one-half of a page; Bills Payable, Bills Receivable, Storage and Commis.sion, one-third of 
 a page each ; all others one-fourth of a page each. After posting the month, make a Balance Sheet, and close only the 
 accounts in the Ledger showing losses and gains. 
 
 In the Calanco Sheet given below only a few of the extensions are made, the student being required to complete the 
 extensions and prove his results. They should agree with the Summary given below. After you have performed this 
 * work, continue the same business through the month of August. 
 
 TRIAL BALANCE AND BALANCE SHEET, JULY 31, 188-. 
 
 L. F. 
 
 
 DK. FOOTING. 
 
 CB. FOOTISO. 
 
 RESOUKCES. 
 
 LIABILITIES. 
 
 LOSSES. 
 
 GAINS. 
 
 
 Student, 
 
 Cash, 
 
 Mdse. 
 
 Ship't to G. II. W., Bristol, 
 
 No. 1, 
 Storage, 
 Commission, 
 J. C. King, 
 Expense, 
 
 8408 
 455 
 
 lOG 
 
 74 
 25 
 
 6000 
 5353 
 
 485 
 15 
 43 
 
 73 
 24 
 
 
 
 
 
 
 
 30 
 15 
 43 
 
 24 
 
 
 Ship't to D. & T., Lodi, No. 1. 
 
 114 
 
 50 
 
 102 
 
 75 
 
 
 
 
 
 11 
 
 75 
 
 
 
 
 Bills Payable, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Bills Receivable, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 J. D. Mason, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Clark's Con. No. 2, 
 
 18 
 
 
 272 
 
 
 
 
 254 
 
 
 
 
 
 
 
 W. J. Corning, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Ship't to G. 11. W., Bristol, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 No. 2, 
 
 675 
 
 
 798 
 
 99 
 
 
 
 
 
 
 
 
 
 
 Morey & Co.'s Con. No. 1, 
 
 60 
 
 
 
 
 60 
 
 
 
 
 
 
 
 
 
 Interest, 
 
 6 
 
 73 
 
 
 
 
 
 
 
 
 
 
 
 
 Ship't to M. & P. F., Easton, 
 
 
 
 
 
 Inrt. 
 
 
 
 
 
 
 
 
 
 No. 1, 
 
 21G0 
 
 75 
 
 
 
 2160 
 
 75 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 SUMMARY. 
 
 Total Gains, - 
 " Losses, 
 
 Net Gain, 
 
 Total Resources, 
 " Liabilities, 
 
 Present Worth, - 
 
 374 
 
 73 
 
 124 
 
 73 
 
 250 
 
 00 
 
 9052 
 
 76 
 
 2802 
 
 76 
 
 6250 
 
 00 
 
 Student's Credit, 
 
 " Net Gain, - 
 
 " Present Worth, 
 
 6000 00 
 250 00 
 
 6250 00 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 61 
 
 193, p. 55. 
 198. p. 55. 
 
 202, p. 55. 
 
 Ex. 53, p. 
 57. 
 
 Ex. 48, p. 
 56. 
 
 23, pa. 6. 
 
 24, pa. 6. 
 40, pa. 8. 
 
 AUGUST 1. 188-. 
 
 Shipped Dow & Todd, Lodi (2d shipment), to be sold on my account and risk, 1000 bu. Barley, 
 @ 90c. Paid cartage and insurance in cash, 25.00. 
 
 3. 
 Bo't for cash, 3000 bu. White Oats, @ 520. 
 
 4. 
 Eec'd from J. B. Clark, Clyde (3d consignment), to be sold on his account and risk, 400 bu. 
 Beans. Paid freight in cash, 30.00, 
 
 5. 
 Sold Niles & Kinnie, 800 bu. Corn (Morey & Co.'s Con. No. 1), @ 65c. Rec'd cash, 120.00. 
 Balance on '^c. 
 
 3? 
 
 Closed Morey & Co.'s Con. No. 1, and rendered an Account Sales. Storage, 8.00; Commission, 
 2 ^ on sales, 10.40. Morey & Co.'s net proceeds placed to their credit. (See note below.) 
 
 6. 
 
 Bo't of 0. B. Delano, on my note at 60 days, 2500 bu. Barley, @ 90c. 
 
 Rec'd from M. & D. Fisher, Easton, an Account Sales of shipment made them July 25th. Net 
 proceeds remitted in cash, 2258.85. 
 
 8. 
 Drew a sight draft on J. D. Mason, Richfield, 600.00, and jiaid it to J. C. King, in full of "jc. 
 
 Rec'd from Benj. Beebe, Northport, to be sold on his account and risk, 1000 bu. Corn. (Mem- 
 orandum only.) 
 
 Sold R. G. Laidlaw, on "jc, at 15 days, from Clark's Con. No. 3, 100 bu. Beans, @ 3.25. 
 
 12. 
 
 Shipped to E. B. Worden, New London, to be sold on my accoiint and risk, 1000 bu. Mixed 
 Oats, @ 40c. Paid cartage and insurance in cash, 17.50. 
 
 13. 
 Re-shipped, as per instructions received from J. B. Clark, to be sold on his account and risk, 
 the 100 bu. R. Wheat belonging to Clark's Con. No. 2, to R. D. White, Smithport. Paid . 
 Cartage in cash, 2.00. 
 
 14. 
 
 Closed J. B. Clark's Con. No. 3, and rendered an Account Sales. Storage, 6.00; Commission, 
 2 ^ on sales. Clark's net proceeds remitted to him in cash. (See also explanation under 
 Ex. 54.) 
 
 Paid my acceptance of July 37th in cash. 
 
 16. 
 
 Bo't of D. Woods, 2000 bu. Mixed Oats, @ 48c. Paid him cash, 460.00, and gave him my 
 note at 10 days, with interest, for balance. 
 
 17. 
 Sold for cash, from Beebe's Con. No. 1, 300 bu. Corn, @ 68c. 
 
 J? 
 
 Rec'd of Niles & Kinnie, their note at 30 days, with interest, to balance f^, 400.00. Rcmitteo 
 the note to Morey & Co., together with cash to balance their "/c. 
 
 18, 
 Sold Milton Forbes, on his note at 30 days, 500 bu. Mixed Oats, @ 53c.; 1000 bu. White Oats, 
 @ 56c. 
 
 Rec'd from W. J. Corning, Waterloo (2d consignment), to be /iold on his account and lisb;, 
 3500 bu. W^hite Wheat. Paid Freight in cash, 280.00. 
 Note.— In finding the Net Proceeds, you must remember to deduct from the sales the freight, or any other charges 
 previously paid on the consignment, as well as the charges given above. For illustration, see Example 54, on page 57, 
 together with the explanation given below it. 
 
fi2 
 
 THEORETICAL AND PRACTICAL BUUKKEEPING. 
 
 20R, p. 55 
 
 203, p. 55. 
 
 203, p. 55. 
 
 194 p. 55. 
 
 193, p. .05. 
 196, p 55. 
 
 19. 
 
 Sold Jno. D. Mason, on % from Clark's Con. No. 3, 300 bu. Beans, @ 3.25. 
 
 Closed Clark's Con. No. 3, and rendered an Account Sales. Storage, 8.00; Commission, 3 ■; 
 on sales. J. B. Clark's net proceeds placed to his credit. 
 
 21. 
 Paid my note of July 24, and interest, due to-day, in cash. 
 
 >? 
 
 Dow & Todd, Lodi, i)er my instructions, have re-shipped to Wells Bro's, Carlisle, to be sold on 
 my account and risk, 1000 bu. Barley, shipped them 1st inst. 
 
 22. 
 Sold for cash, from Coming's Con. No. 3, 150 bu. White Wheat, @ 1.45. 
 
 Rec'd cash of R. G. Laidlaw, for his note of July 30th and interest. 
 
 23. 
 Sold for cash, from Beebe's Con. No. 1, 700 bu. Com, @ 68c. 
 
 Closed Beebe's Con. No. 1, and rendered an Account Sales. Storage, at Ic. per bu. ; Commis- 
 sion, at 2 ^ on sales. Benj. Beebe's net proceeds remitted in cash. 
 
 24. 
 Rec'd cash of R. G. Laidlaw, in full of <^c, 325.00, and remitted same to J. B. Clark, on afc. 
 
 Rec'd from E. B. Worden, New London, an Account Sales of shipment made him 12th inst. 
 My net proceeds remitted in cash, 485.80. 
 
 25. 
 Shipped to Frank Odell, Lisbon, to be sold on my account and risk, 1500 bu. Barley, @ 90c. 
 Paid cartage and insurance in cash, 18.38. 
 
 Rec'd cash of Jno. D. Mason, on <^, 1035.00. 
 
 26. 
 
 Rec'd from Morey & Co., Richmond (3d consignment), to be sold on their account and risk, 
 1000 bu. Com. Paid Freight in cash, 75.00. 
 
 Paid W. J. Corning, cash to balance "fe. 
 
 27. 
 
 Shipped to M. & D. Fisher, Easton (2d shipment), to be sold on my account and risk, 1000 bu. 
 M. Oats, @ 48c. Paid cartage in cash, 5.00. 
 
 Sold J. T). Mason, 1000 bu. White Oats, @ 55c.; 500 bu. Barley, @ 1.00. Rec'd cash, 250.00, 
 and his note at 20 days for balance. 
 
 28. 
 Milton Forbes prepaid his note of 18th inst. Face of note, 835.00; discount fb maturity. 
 Rec'd cash for the ])roceeds. 
 
 29. 
 Faid my note of 16th inst, ^nd interest, due to-day, in cash. 
 
THEOKEl'lCAL AND PRACTICAL BOOK-KEEPING. 
 
 S3 
 
 194. p. 55. 
 
 29. 
 
 Rec'd advice from M. & T). Eisher, Easton, that the 1000 bu. M. Oats sliippcrt them 37th inst. 
 were destroyed by fire while in transit. No insurance. 
 
 23, pa. 6. 
 40, pa. 6. 
 194, p. 55. 
 
 Sold R. G. Laidlaw, on % from Morey & Co.'s Con. No. 2, 600 bu. Corn, @ 70c. 
 
 30. 
 Rec'd from Wells Bro's, Carlisle, an Account Sales of the shipment made them on our account 
 by Dow & Todd. Our net proceeds, 894.25, remitted by their sight draft on J. B. Clark, 
 which we have paid to Clark, together with cash to balance his % 
 
 Rec'd from Grant & Son, Salem, to be sold on their account and risk, 500 bu. R. Wheat. Paid 
 Freight in cash, 30.00. 
 
 Rec'd cash of Jno. P. Mason, in full of "fc. 
 
 Sold for cash, from Grant & Son's Con. No. 1, 200 bu. R. Wheat, @ 1.35. 
 
 Paid Rent of Warehouse for month in cash, 50.00. 
 
 INVENTORIES, AUGUST 31, 188-. 
 
 MDSE.— 500 bu. Mixed Oats, @ 48c.; 1000 bu. White Oats, @ 52c.; 500 bu. Barley, 
 
 (oj 90c. Total, - 1210 00 
 
 SHIPMENT to Lisbon No. 1, at cost, -..- 1368 38 
 
 Note. — Journalize and post. Give new accounts one-fourth of a page space. After posting the month of August, 
 make out a Balance Slieet and close the Ledger. Bring down the Resources jind Liabilities, and prove your work. If 
 correct, it will agree with the following: 
 
 TRIAL BALANCE OF LEDGER BALANCES, AUGUST 31, 188- 
 
 RESOURCES 
 
 Cash, - _ 5050 12 
 
 Mdse. Inv _ 1210 00 
 
 Bills Receivable, 800 00 
 
 Personal Accounts, 420 00 
 
 Coming's Con. No. 2, _ . 62 50 
 
 Ship't to Lisbon No. 1, Inv. 1368 38 
 
 8911 00 
 
 LIABILITIES. 
 
 Bills Payable, _. 2250 00 
 
 Morey & Co.'s Con. No. 2, 345 00 
 
 Grant & Son's Con. No. 1, 240 00 
 
 Student's Investment, 6250 00 
 
 Net Loss, 174 00 
 
 Present Worth, 6076 00 
 
 8911 00 
 
 QUESTIONS FOR REVIEW. 
 
 Page 55. — "*"'" Give the rule for journalizing Shipments. '" Explain the meaning of shipment. 
 "'How are the the different shipments distinguished? "'What is the party called who ships the 
 property? "* What is meant by Account Sales? '"By Net Proceeds? «» What will the Shipment 
 account show after it has been credited with the net proceeds? '"' What before? ™'"*'' Give tlic rule 
 for journalizing Consignments? *" Explain the meaning of Consignment. ^^ How are the different 
 consignments distinguished? "" What is the party called who receives the property? '"' When should 
 a Consignment balance? *"""* What would a Consignment show if it were unclosed at the time of 
 making a Balance Sheet? 
 
64 
 
 THEOKPrriGAL AND PRACTICAL BOOK-KEEPING. 
 
 -2f 
 
 
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 STUDENT. 
 
 
 
 
 
 
 ■ 
 
 188 
 Sept. 
 
 1 
 
 Cash, 
 
 2 
 
 1000 
 
 
 WM. T. HOWARD. 
 
 188 
 Sept. 
 
 17 
 
 Oasli, 
 
 3 
 
 50 
 
 
 188 
 Sept. 
 
 1 
 
 Cash, 
 
 2 
 
 1000 
 
 
 
 
 
 MERCHANDISE 
 
 
 
 
 188 
 Sept. 
 
 2 
 5 
 
 Howe & Eogers, 
 James Reed & Co., 
 
 1 
 1 
 
 1030 
 
 700 
 
 
 188 
 Sept. 
 
 3 
 
 H. W. Smith, 
 
 1 
 
 300 
 
 
 HOWE &. ROGERS 
 
 188 
 Sept. 
 
 4 
 
 Cash, 
 
 o 
 
 100 
 
 
 188 
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 2 
 
 Mdse. 
 
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 ^ 
 
THKORBTICAL AND PRACTICAL 15(K)K KEEPING. 
 
 65 
 
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 H. W. SMITH. 
 
 
 
 
 
 188 
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 3 
 
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 1 
 
 300 
 
 
 1 188 
 Sept. 
 
 6 
 9 
 
 Cash, 
 Bins Eec. 
 
 2 
 1 
 
 150 
 150 
 
 - 
 
 
 
 EXPENSE. 
 
 
 
 
 
 188 
 Sept. 
 
 10 
 
 Cash, 
 
 3 
 
 25 
 
 
 
 
 
 
 
 
 
 
 BILLS RECEIVABLE. 
 
 
 
 
 
 ]88 
 Sept. 
 
 9 
 
 H. W. Smith, 
 
 1 
 
 150 
 
 • i 
 
 188 
 Sept. 
 
 22 
 
 Cash, 
 
 2 
 
 150 
 
 
 CASH. 
 
 188 
 Sept. 30 
 
 Sundries, 
 
 2 
 
 3030 
 
 54 
 
 188 
 Sept. 
 
 30 
 
 Sundries, 
 
 3 
 
 1520 
 
 
6r, 
 
 THEOKETICAL AND PRACTICAL BOOK-KEEPING. 
 
 
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THEORETICAL AND PRACTICAL BOOKKEEPING. 67 
 
 SEPTEMBER 1, 188-. (See Notes 1 and 2 at bottom of page.) 
 
 Student and Wm. T. Howard have this day formed a co-partnership, under the firm name of 
 Student & Co., for the purpose of conducting the Carpet business. The partners are to invest equal 
 amounts, and sliure equally in gains and losses. 
 
 In consideration of extra services. Student is to be paid by the firm a salary of one hundred dollars 
 per month. * 
 
 Note. — Make a memorandum of the above in your .Tournal. 
 
 Student and Wm. T. Howard have each paid in 1000.00 cash, the amount to be invested as stip- 
 ulated in the co-jwrtnership articles this day executed. (C. B. ) 
 
 Note. — Make these entries on the left side of tlie Cash Book, wliich debits Cash and credits Student and Wm. 
 T. Howard. 
 
 In opening your Cash Book, leave the first page blank and commence on the second page, so that the receipts and 
 disbursements will appear on opposite pages. See Cash Book form on pages 64 and 65. 
 
 2. 
 
 Bought of Howe & Eogers, New York, on °/c, 200 yds. Moquettes, @ 1.50; 300 yds. Body Brus- 
 sels, @ 1.35; 500 yds. Ingrain, @ 65c. (J.) 
 
 3. 
 Sold H. W. Smith, ou <^, 200 yds. Body Brussels @ 1.50. (J.) 
 
 4. 
 
 Paid Howe & Rogers, cash to apply on «/•, 100.00. (C. B.) 
 
 Note. — Make this entry on the right side of the Cash Book, which credits Cash and debits Howe & Rogers. See 
 Cash Book, on page 6.5. 
 
 5. 
 
 Bought of Jas. Reed & Co., Boston, on "fc, 500 yds. Tapestry Brussels, @ 90c.; 1000 yds. Matting, 
 @ 25c. (J.) 
 
 6. 
 
 Received cash of II. W. Smith, on o/r, 150.00. (C. B.) 
 Note.— Make this entry on the left side of the Cash Book. 
 
 8. 
 Sold Geo. R. Strong, on "/c, 200 yds. Tapestry Brussels, @ 1.00. (J.) 
 
 9. 
 
 Received of H. W. Smith, to balance «/«, his note at 10 days, payable at Traders Bank, 150.00. 
 (J. and B. B.) 
 
 Note.— Make entry also in Bill Book. See form of B. B. on page 66; also, note No. 2 below. 
 
 10. 
 Paid Scran torn & Co.'s bill for Office Books in cash, 25.00. (C. B.) 
 Note. — Make the entry on the right side of the Cash Book, which credits Cash and debits Expense. 
 
 Note No. 1 . — In this set a Cash Book (see form on pages 64 and 65) is to be kept as a principal book, that is, all cash 
 entries are to be made in the Cash Book and posted directly from that book to the Ledger witliout being carried to the 
 Journal. Whenever cash is received, enter the amount on the left or debit side of the Cash Book, giving the title of the 
 account to be credited in posting, and an appropriate explanation; whenever cash is paid out, enter the amount on the 
 right, or credit side of the Cash Book, giving the title of the account to be debited in posting, and an appropriate 
 explanation. The diiTerence between the sides of the Cash Book should exhibit at any time the cash on hand. In 
 business it is customary to prove the cash every day, that is, ascertain whether the cash on hand agrees with the balance 
 as shown by the Cash Book. 
 
 Note No. 2.— An auxiliary book, called the Bill Book, is also to be kept, to show the particulars regarding the 
 Bills Payable and Bills Receivable wliich you issue and receive. The form shown on page 66 is arranged for both 
 notes and drafts. The Drawer of a draft and the Endorstjr of a note sustain substantially the same relation to the 
 paper; both are therefore entered in one cnlumn. The same is true also of the Drawee of a draft and the Maker of a 
 note. Three days of grace are always to be added in giving the maturity of paper. As soon as you have made an 
 entry in the Journal for a Bills Payable issued or Bills Receivable received, turn at once to the Bill Book and enter it 
 there also. When a"Bill has been paid, or disposed of in any manner, state the fact in the proper column in the Bill Book, 
 
68 THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 11. 
 Gave Howe & Rogers our note at 30 days, payable at our office, to apply on % 200.00. (J and B. B. ) 
 
 12. 
 Received casli of Geo. R. Strong, on % .50.00. (C. B.) 
 
 i3. 
 Sold Perry & Powers, on «jc, 100 yds. Moquettes, @ 1.75; 200 yds. Matting, @ 30c. (J.) 
 
 15. 
 Paid Jas. Reed & Co., Gash on f^c, 2J0.00. (0. B.) 
 
 16. 
 Sold Wm. (Graves, on his note at 10 days, payable at Farmers Bank, with interest, 100 yds. Body 
 Brussels, @ 1.50; 100 yds. Tajjestry Brussels, @ 1.00. (J. and B. B.) 
 
 17. 
 Wni. T. Howard drew cash from the business for private use, 50.00. (C. B.) 
 
 18. 
 Sold for cash, 100 yds. Matting, @ 30c. (C. B.) 
 Note.— Make entry on Uft side of Cash Book, which debits Cash and credits Merchandise. 
 
 19. 
 Accepted Jas. Reed & Co.'s (Boston), draft on us, favor O. D. Harris, at 3 days' sight, payable at 
 our office, to apply on "fc, 300.00. (,T. and B. B.) 
 
 20, 
 Received cash of Geo. R. Strong, in full of "jc, 150.00. 
 
 Sold Gardner & Son, 100 yds. Tapestry Brussels, @ 1.00; 300 yds. Matting, @ 30c. Received 
 cash, 75.00. Balance on <^. (J. and C. B.) 
 
 Note.— Debit Gardner & Son with the full amount of the invoice in the Journal and credit them in the Cash Book 
 for the amount paid. • 
 
 22. 
 
 Received cash of H. W. Smith, for his note of 9th inst., due to-day, 150.00. (U. B.) 
 Note. — Mark the note paid in B. B. 
 
 23. 
 
 Bought of Howo & Rogers, on "jc, 400 yds. Body Brussels, @ 1.35; 300 yds. Moquettes, @ 1.50. 
 
 24. 
 Paid cash for Coal for use in store, 15.00. 
 
 a 
 
 Sold Geo. R. Strong, on % 300 yds. Ingrain, @ 75c.; 200 yds. Moquettes, @ 1.75; 100 yds. 
 Tapestry Brussels, @ 1.00. ^ 
 
 25. 
 Paid our acceptance of 19th inst., favor 0. D. Harris, due to-day, in cash. (C. B.) 
 
 26. 
 Received of Perry & Powers, their note at 60 days, indorsed by Henry T. French, payable at Fourth 
 National Bank, in full for invoice 13th inst., 235.00. 
 
 27 
 Paid Howe & Rogers, cash on <y«, 730.00. 
 
 * it 
 
 Sold H. W. Smith, 100 yds. Moquettes, @ 1.75; 200 yds. Body Brussels, @ 1.50. Received 
 cash, 175.00. Balance on "jc. 
 
 29. 
 
 Received cash of Wm. Graves, for his note of 16th inst., duo to-day, 250.00, and 13 days interest on 
 same, 54c. (See note ))elow.) 
 
 Note. — For tlie purpose of illustrating both methods of computing interest and discount, the one in general use in 
 business will hereafter be employed, viz: 360 days, or 12 months of 30 days each, will be considered a year, and taken 
 as a basis of computation. The Student is recommended to use the 6 per cent, or short method of working interest 
 and discount. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 69 
 
 30. 
 Gav{3 Jas. Reed & Co. our note at 10 days, with interest, payable at our office, to balance "fc, 200.00. 
 
 ii 
 
 }*ai(l (Student), his salary for extra services for month, in cash, 100.00. 
 
 INVENTORIES, SEPTEMBER 30, 188-. 
 
 RESOURCE. 
 Musk. — Goods in stock, j)pr Inventory Book, .. 650 00 
 
 LIABILITY. 
 Expense. — Rent unpaid for month of September, 100 00 
 
 , You ■v\-ill now balance your Cash Book (see Cash Book form on yiages 64 and 65), post, make 
 balance sheet, and close the accounts, showing losses and gains. 
 
 Post from the Journal, as heretofore, entering the explanations in the Ledger accounts, using for 
 explanation the opposite title in the Journal entry when there is but one, and the expression "Sundries " 
 when there is more than one,- as illustrated on pages 64 and 65. Check the posting in Journal and 
 Cash Book, by using the Ledger page instead of the check mark as heretofore. Give Merchandise, 
 Bills Receivable and Bills Payable, each one-half of a page space; all other accounts, one-fourth of a 
 page each. 
 
 In posting from the Cash Book, credit all items on the left side to the various accounts to whicli 
 they belong, and deiit Cash account with the footing of these items. To illustrate: credit Student 
 1000; credit Wm. T. Howard, 1000; credit H. W. Smith, 150; and so on until all of the items on 
 the left side of the Cash Book have been credited; then debit Cash account with the footing of these 
 items, 3030.54. Next debit all items on the right side of the Cash Book, and credit Cash with the 
 footing of these, items. To illustrate: debit Howe & Rogers, 100; debit Expense, 25; debit Jas. Reed 
 & Co., 200, and so on until all the items on this side have been debited, then credit Cash account with 
 the total, 1520. As will readily be seen, the equality of the sides of the Ledger is thus preserved. 
 The entries should be posted from the Journal and Cash Book in the order of the dates, to have them 
 appear in the proper order in the Ledger. 
 
 After the posting is completed your Ledger should exhibit the following balances: 
 
 CREDIT BALANCES. 
 Student, 1000.00; Howard, 950.00; Howe & Rogers, 990.00; Bills Payable, 400.00; Interest, 54c. 
 
 DEBIT BALANCES. 
 
 Merchandise, 365.00; H. W. Smith, 300.00; Geo. R. Strong, 675.00; Bills Receivable, 235.00; 
 Expense, 140.00; Gardner & Son, 115.00; Cash, 1510.54. 
 
 NET GAIN FOR THE MONTH, 45.54. 
 
 OCTOBER 1. 188-. 
 
 Purchased of Wm. T. Howard, his interest in the business as shown by his present worth. Gave 
 him in full payment my note at 2 mos., indorsed by C. N. Benton, 972.77. 
 
 2. 
 Sold Samuel Beach, on his note at 10 days, with interest, payable at Merchants' Bank, 100 yds. 
 Body Brussels, @ 1.50; 200 yds. Matting, @ 30c.; 100 yds. Moquettes, @ 1.75. 
 
 3. 
 
 Received casli of H. W. Smith, on ajc, 100.00. 
 
 4. 
 
 Paid note favor Howe & Rogers, due to-day, in cash. 
 
 (t 
 
 Bought of Jas. Reed & Co., 400 yds. Tapestry, @ 90c.; 300 yds. Moquettes, <a 1.50; 1000 yds. 
 Lining, @ 10c. Paid casli on above, 300.00. Balance on "{c. 
 
 Note. — Credit Jas. Reed & Co. in Journal for full amount, and debit them in Cash Book for the cash paid. 
 
70 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 6. 
 Gave Howe & Rogers, my note at 30 days, to apply on "jc, 500.00. 
 
 7. 
 Sold II. AY. Smith, on "/r, 100 yds. Moquettes, @ 1.75; 500 yds. Lining, @ 13^0. 
 
 8. 
 Perry & Powers prepaid their note of 36th ult., 335.00, in cash, less discount to maturity, 51 days, 
 3.00. 
 
 Note. — On the left side of the Cash Book credit Bills Receivable 235.00, which debits Cash 235.00, and on the right 
 side of the Cash Book debit Discount, 2.00, which credits Cash 2.00; this leaves the net debit to Cash the difference 
 between the two amounts, the same as though made in the ordinary Journal entry form. 
 
 9. . 
 
 Received of Geo. R. Strong, his note at 60 days, payable at City Bank, in full of "jc, 675.00. 
 
 10. 
 Received cash of Gardner & Son, on "jc, 50.00. 
 
 11. 
 Sold Perry & Powers, on «/c, 300 yds. Tapestry Brussels, @ 1.00; 100 yds. Moquettes, @ 1.75; 
 200 yds. Lining, @ 12iSc. 
 
 13. 
 
 Paid my note, favor Jas. Reed & Co., due to-day, and interest on same, in cash. 
 
 14. 
 Bought of Clark, Medford & Co., Philadelphia, on "jc, 3i)0 yds. Moquettes, @ 1.50; 600 yds. 
 Bodv Brussels, @ 1.35. 
 
 15. 
 
 Received cash of Samuel Beach, for his note and interest due to-day. 
 
 16. 
 Paid Howe & Rogers, cash on «/c, 490.00. 
 
 17. 
 
 Received of H. W. Smith, his note at 10 days, payable at Traders Bank, to apply on <^, 200.00. 
 
 18. 
 Paid rent of store for September and October, in cash, 200,00. 
 
 20. 
 Accepted Jas. Reed & Co.'s draft at 3 dajs' siglit, favor 0. D. Harris, to apply on ^c, 300.00. 
 
 21, 
 Sold Richmond & Bro., on «/c, 300 yds. Body Brussels, @ 1.50; 200 yds. Ingrain, @ 75c. 
 
 22. 
 Received cash of Gardner & Son, in full of "jc, 65.00. 
 
 23. 
 Geo. R. Strong prepaid his note of 9th inst., in cash, less discount. 
 
 24. 
 Sold for cash, 50 yds. Body Brussels, @ 1.50. 
 
 25. 
 Bought of Jas. Reed & Co., on °jc, 200 yds. Moquettes, @ 1.50; 500 yds. Tapestry Brussels, @ 90c. 
 
 26. 
 Paid acceptance, favor 0. I). Harris, due to-day, in,cash. 
 
 28. 
 Received of Richmond & Bro. (Springville), to apply on «/«, their draft in my favor, at 30 days' 
 sight, on Chas. T. Webber, which he has accepted, payable at Corning & Co.'s Bank, 300.00. 
 
 29. 
 Sold Gardner & Son, on <^c, 350 yds. Body Brussels, @ 1.50; 200 yds. Moquettes, (S^ 1.75; 200 
 yds. Matting, @ 30c. 
 
THEORETI(5AL AND PRACTICAL BOOK-KEEPING, 
 
 71 
 
 29. 
 Paid Clark, Med ford & (~!o., casli on %:, GOO. 00. 
 
 30. 
 
 Prepaid my note fitli inst, favor Howe & Rogers, in cash, less discount- 
 
 T) 
 
 Received cash of H. W. Smith, for his note dno to-day. 
 
 31. 
 Paid clerk's salaries in cash, 100.00. 
 
 INVENTORY, OCTOBER 31, 188-. 
 
 MnsE. — Goods in stock per Inventory Book, _ laCO 00 
 
 You may now balance the Cash Book, post, make out balance sheet, and close the Ledger. 
 The Summary of your Balance Sheet should agree with the following: 
 
 SUMMARY. 
 
 Total Gains, 332 90 
 
 " Losses, 206 76 
 
 Net Gain,__ 116 14 
 
 Total Resources, ,.. 3831 68 
 
 " Liabilities, ..3692 77 
 
 Present Worth, _ 1138 91 
 
 Student's Net Credit, .1022 77 
 
 " Gain,. 116 14 
 
 Present Worth _.1138 91 
 
 CHECK BOOK. (Nov. and Dec.) 
 
 .A^ 
 
 . /, ^c/,om/c</, 
 
 
 No. 
 
 /. 
 
 
 
 Date, ©^ 
 
 ■ 4. 
 
 
 To 
 
 "wit:-a.-a.i 
 
 ^,@c 1 
 
 For 
 
 0//^. 
 
 ^/. 
 
 
 
 
 
 Am't, 
 
 4000 
 
 .4^. /■/, ^e^Mty^/, 
 
 No.^. 
 
 
 
 
 Date, (g^„. 
 
 /J". 
 
 - 
 
 Toj^^. 
 
 #■ 
 
 xS^^frV****/-/ 
 
 For 9f»i.«/- 
 
 ^/ 
 
 
 
 
 
 Am't, 
 
 225 
 300 
 
 407 5 
 
 200 
 
 38 7 5 
 
 G. (^ Qf^o.,Aa*i/^ 300 
 
 3 67 5 
 
 No. 
 
 ^i 
 
 
 
 Date, g^. /a. 
 
 
 To 
 
 ^^ 
 
 'Wa.-ytJ. 
 
 
 For 
 
 ^W^«^»n^^ 
 
 ■#* a.c 
 
 
 
 
 Am't, 
 
 200 
 
 3 3 7 4 
 
 50 
 
 50 
 
 No. y. 
 Pay to 
 
 ^ ^^6. 00. 
 
 Medina, @^. 
 FLOUR CITY BANK, 
 
 OF MEDINA. 
 
 .^.«/^.«^-^,: 
 
 ^, 188^ 
 
 or Order, 
 Dollars. 
 
 // 
 
 l^-U.cU-» 
 
 /^ ^.. 
 
 No. .t 
 Pay to 
 
 Medina, (g^^. /j, 188^ 
 FLOUR CITY BANK, 
 
 OF MEDINA. 
 
 j^«.. ^^I^/^^, or Order, 
 
 ^Joo.oo. ..©Vtwi**//- 9;„. 
 
 No. ^ 
 
 Medina, @/;^. ,/^. 188^ 
 
 FLOUR CITY BANK, 
 
 OF MEDINA. 
 
 Pay to ^i^/zT f'^ooj «««/ (^L/'L,^e /^SOr.J or Order, 
 SL^ ^^^^/.r/ tVs Dollars. 
 
n 
 
 THKORETICAL AND PRACTICAL BOOKKEEPING. 
 
 SALES BOOK. 
 
 NOVEMBER 2, 188- 
 
 
 L. F. 
 
 
 
 
 
 
 
 
 3 
 
 E. Langworthy, Marcellus. 
 
 2 doz. Carpeh Stretchers, 
 10 Grindstones, 
 
 3. 
 
 2.50 
 
 G 
 25 
 
 
 
 
 
 
 2 doz. C. S. Angers, 
 
 7.25 
 
 14 
 
 50 
 
 
 
 
 
 25 Kegs Cut Nails, 2500 lbs.. 
 
 4c. 
 
 100 
 
 
 145 
 
 50 
 
 
 3 
 
 L. B. Mason, City. 
 
 
 
 
 
 
 
 
 3 U. Clothes Wringers, 
 
 6.25 
 
 18 
 
 75 
 
 
 
 
 
 5 Grindstones, 
 
 2.50 
 
 12 
 
 50 
 
 
 
 
 
 1 doz. Steelyards, 
 
 5. 
 Barber & Swift, Georgetown. 
 
 10.50 
 
 10 
 
 50 
 
 41 
 
 75 
 
 
 4 
 
 
 
 
 
 
 
 
 10 B. Drills, 
 
 7.25 
 
 73 
 
 50 
 
 
 
 
 
 5 doz. P. G. Coal Hods, 
 
 15. 
 
 75 
 
 
 
 
 
 
 2 " C. S. Augers, 
 
 7.25 
 
 14 
 
 50 
 
 
 
 
 
 3 " W. Wrenches, 
 
 14.75 
 
 44 
 
 25 
 
 
 
 
 
 7 " Carpet Stretchers, 
 
 3.00 
 
 21 
 
 
 227 
 
 25 
 
 
 4 
 
 6 
 C. B. Shafer, Gasport. 
 
 10 Kegs Cut Nails, 1000 lbs.. 
 
 4c. 
 
 ' 40 
 
 
 
 
 
 
 2 U. Clothes Wringers, 
 
 6.25 
 
 12 
 
 50 
 
 
 
 
 
 3 doz. C. S. Augers, 
 
 7.25 
 
 21 
 
 75 
 
 
 
 
 
 7 " Carpet Stretchers, 
 
 3. 
 
 21 
 
 
 
 
 
 
 2 " W. AVrenchcs, 
 
 ' 14.75 
 
 29 
 
 50 
 
 
 
 
 
 10 " C. S. Axes, 
 
 15. 
 
 150 
 
 
 274 
 
 75 
 
 
 
 11. 
 
 
 
 
 
 
 
 3 
 
 E. Langworthy. 
 
 10 Grindstones, 
 
 2.50 
 
 25 
 
 
 
 
 
 
 3 U. Clothes Wringers, 
 
 6.25 
 
 18 
 
 75 
 
 
 
 
 
 5 doz. Carjjet Stretchers, 
 
 3. 
 
 15 
 
 
 58 
 
 75 
 
 
 
 13. 
 
 
 
 
 
 
 
 3 
 
 L. B. Mason. 
 
 8 doz. Carpet Stretchers, 
 
 10 Kegs Cut Nails, 1000 lbs., 
 
 4 doz. C. S. Augers, 
 
 3. 
 
 4c. 
 
 7.25 
 
 24 
 40 
 29 
 
 
 
 
 
 
 10 " C. S. Axes, 
 
 15. 
 
 150 
 
 
 243 
 
 
 
 4 
 
 C. B. Shafer. 
 
 30 Kegs Cut Nails, 3000 lbs., 
 5 doz. P. G. Coal Hods, 
 
 4c. 
 15. 
 
 120 
 
 75 
 
 
 
 
 
 
 5 B. Drills, 
 
 Forward, 
 
 7.25 
 
 36 
 
 25 
 
 231 
 
 25 
 
 
 1222 
 
 25 
 
 
 1 
 
 
 
 PRICE 
 
 LISTS FOR 
 
 NOVEMBER AND DECEMBER. 
 
 
 
 BuyinK^. 
 
 
 Selling. 
 
 7.25 
 
 Buylnsr. 
 
 
 Selliner. 
 
 6.00 
 
 Blacksmith Drills, 
 
 each, 
 
 4.75 
 
 Copying Presses, 
 
 each. 
 
 6.00 
 
 12^0. 
 
 Babbit Metal, 
 
 per lb. 
 
 15c. 
 
 1.60 
 
 Grindstones, 
 
 each. 
 
 2.50 
 
 2.00 
 
 Barn Door Hangers, 
 
 per pair, 
 
 2.75 
 
 7.50 
 
 Ice Cn^am Freezers, 
 
 each, 
 
 9.50 
 
 3*c. 
 
 Cut Nails, 
 
 per lb. 
 
 4c. 
 
 12.25 
 
 Plain Galv'd Coal Hods, 
 
 per doz. 
 
 15.00 
 
 5.50 
 
 Cast Steel Augers, 
 
 per doz. 
 
 7.25 i 
 
 85c. 
 
 R. H. Bread Knives, 
 
 it 
 
 1.50 
 
 2.40 
 
 Carpet Stretchers, 
 
 per doz. 
 
 3.00 
 
 8.00 
 
 Steelyards, 
 
 tt 
 
 10.50 
 
 8.10 
 
 Cow Bells, 
 
 per doz. 
 
 9.50 
 
 5.00 
 
 Universal Clothes Wring( 
 
 ;rs, each. 
 
 6.25 
 
 12.00 
 
 Cast Steel Axes, 
 
 per doz. 
 
 15.00 1 
 
 12.75 
 
 Wrought Wrenches, 
 
 per doz. 
 
 14.75 
 
 Note to the Teacher.— If desired, the months of Nov. and Dec. may be used as a primary business practice 
 set, employing representative currency, writing all business papers and documents, and actually performing the business 
 connected with the transactions as outlined in the memoranda. To secure independent work, a special discount upon 
 the above lists, either in buying or selling, or both, may he assigned to each pupil, thus producing results unlike those 
 of other pupils. 
 
Theoretical anI) practical book-keeping. 7S 
 
 NOVEMBER I, 188— 
 
 Student and Geo. D. Whitney liiive this day formed a co-partnership, under the firm name of 
 Student & Co., and have leased of H. N. Smith the store No. 1466 Main Street, at 1200.00 per year, 
 for the purpose of carrying on the Hardware business. 
 
 Geo. I). Whitney is to furnish a cash capital of 5000.00, and Student is to conduct the business. 
 The gains and losses are to be shared equally. 
 
 Receive of Geo. D. Whitney the 5000.00 cash investment as per co-partnership agreement. (C. B.) 
 
 Open an account at Flour City Bank, and deposit cash, 4000.00. (Ck. B. See note No.2 below.) 
 Note.— Make this entry only in the Check Book. See form of Check Book on page 71. In case the pupil is not 
 provided with a Check Book, the record for the stub may be kept upon a sheet of paper properly ruled. 
 
 Buy of Hemingway & Selden, City, on "^, 75 kegs Out Nails, 7500 lbs.; 50 Grindstones; 10 doz. 
 0. S. Augers; 48 U. 0. Wringers; 5 doz. Steelyards; 35 doz. Carpet Stretchers. (J.) 
 
 2 
 Sell E. Langworthy, Marcellus, on «/c, 3 doz. Carpet Stretchers; 10 Grindstones; 2 doz. 0. S. 
 Augers; 25 kegs Cut Nails, 3500 lbs. (S. B.) 
 
 Note. — Make this entry only in the Sales Book, as explained in Note No. 1 below. 
 
 Order by letter, of E. Corning & Co., Albany, on "jc, the following goods, to be shipped via N. Y. 
 C. & n. R. R. R.: 25 B. Drills; 25 doz. P. G. Coal Hods; 10 doz. Carpet Stretchers; 5 doz. C. S. 
 Augers; 20 doz. C. S. Axes; 5 doz. W. Wrenches. (Memorandum.) 
 
 Note. — Simply write the letter, ordering the goods as above. No entry is to be made until the goods are received 
 
 Give Hemingway & Selden, to ,apply on "jc, your note at 15 days, payable at F. C. Bank, with 
 
 interest, 500.00. (J. and B. B.) 
 
 J) 
 
 Sell L. B. Mason, City, on o/c, 3 U. C. Wringers; 5 Grindstones; 1 doz. Steelyards. (S. B.) 
 
 4. 
 
 Buy of Briggs & Son, a Safe for the office, and pay for same by check on P. C. Bank, 235.00. 
 (Ck. B.'andC. B.) 
 
 5. 
 Receive the goods ordered of Corning & Co., 2nd inst. (J.) 
 
 Sell Barber & Swift, Georgetown, on "jc, 10 B. Drills; 5 doz. P. G. Coal Hods; 3 doz. C. S. 
 Augers; 3 doz. W. Wrenches; 7 doz. C. Stretchers. (S. B.) 
 
 Note No. 1. — In addition to the Journal and Cash Book, a Sales Book is to be kept in this set, as a principal 
 book, all sales of merchandise being entered in the Sales Book only. 
 
 In posting from the Sales Book, each person is to bo debited with the amount of his invoice, and Merchandise 
 account is to be credited with the total sales at the end of the month. (See form of Sales Book on page 72.) 
 
 The use of the Bill Book as an auxiliary book is to be continued. 
 Note No. 2.— In this set, the bank account is not to be kept in the Ledger, but upon the stub of the 
 Check Book, and money in the bank is to be treated as cash on hand. 
 
 When moaey is deposited, therefore, an entry is not to be made in the Cash Book, only in the Check Book, adding 
 the amount of the deposit to the previous balance. 
 
 When money is paid out by check, however, the amount is not only to be deducted from the previous balance in 
 the Check Book, but an entry must also be made in the Cash Book, because our cash (or its equivalent, our bank 
 balance) has been reduced. See form of Check Book on page 71. 
 
 Note No. 3 —All of the business papers in this set, such as invoices, letters, telegrams, notes, checks, dei>osit 
 tickets, drafts, receipts, orders, etc., should be written by the pupil, as he comes to them, in the memoranda. 
 Specimens of these forms will be found on the last pages of the text book. 
 
74 TIlKOKKTIOAIi AND I'KACi'lOA'L JJOOKKEEPING. 
 
 6. 
 Receive of E. Langwortliy, to apply on "]c, his note at 20 days, payable at Commercial Bank, 
 Marcellus, 100.00. Leave the note at F. 0. Bank, for collection. (J. and B. B.) 
 
 Note.— In the Remarks column in B. B. make the following memorandum: "Left at F. 0. Bank for collection," 
 and give the date when left. 
 
 Order by telegram, of Pratt, Conway & Mills, Pittsburg, 200 kegs Cut Nails, 20,000 lbs., to be 
 shipped via AV. B. & P. \l. R. (Memorandum.) 
 
 Receive Casli of L. B. Mason, in full for invoice 2d inst. (C. B.) 
 
 Sell C. B. Shafer, Gasport, on «/c, 10 Kegs Cut Nails, 1000 lbs.; 2 U. C. Wringers; 3 doz. C. S. 
 Augers; 7 doz. Carpet Stretchers; 2 doz. W. Wrenches; 10 doz. C. S. Axes. (S.B.) 
 
 8- 
 Pay Hemingway & Selden, cash on "jr, 100.00. 
 
 9. 
 
 Accept E. Corning & Co.'s draft at 3 days sight, favor of themselves, payable at F. C. Bank, to 
 ap])]y on % 300.00. (J. & B. B.) 
 
 10. 
 Receive cash of C. B. Shafer, on "jc, 200.00. 
 
 11. 
 Receive of Barber & Swift tlieir note at 10 days, payable at Farmers' Bank, Georgetown, with 
 
 interest in full for invoice 5th inst. Leave the note at F. C. Bank for collection. 
 
 t 
 
 Sell E. Langworthy, on "fc, 10 (Jrindstones; 3 U. C. Wringers; 5 doz. C. Stretchers. 
 
 Deposit in F. C. Bank, 300.00. (Ck. B.) 
 
 12. 
 Receive the nails ordered of Pratt, Conway & Mills, Gth inst. (J.) 
 
 13 
 Pay cash for 2 tons of Coal for office, 10.80. 
 
 ?? 
 
 Geo. D. Whitney draws from the business, for his individual use, by check on F. C. Bank, 200.00. 
 
 Note. — Charge this to "Geo. D. Whitney, Private Account," and open such an account in the Ledger instead of 
 posting it to his investment account. 
 
 .*? 
 
 Sell L. B. Mason, City, 8 doz. C. Stretchers; 10 kegs Cut Nails, 1,000 lbs. ; 4 doz. C. S. Augers, 
 10 doz. C. S. Axes. Receive cash to apply on above 43.00. 
 
 Note. — Enter the sale in S. B. in the regular way, for the full amount, and credit Mason in C. B. for the cash 
 received. 
 
 Order by letter of Hart, Bliven & Mead, New York, to be shipped via. West Shore R. R.,.12 I. C. 
 Freezers; 2,500 lbs. Babbit Metal; 20 doz. Cow Bells; 15 Copying Presses; 100 pairs Barn Door 
 Hangers; 75 doz. R. H. Bread Knives (Memorandum). 
 
 15. 
 Receive cash of E. Langworthy on "jc 45.50. 
 
 Your acceptance due to-day has been paid by F. C. Bank and charged to your "jc. 
 
 18. 
 ■ Sell C. B. Shafer on % 30 kegs Cut Nails, 3,000 11)S.; 5 doz. P. G. C. Hods; 5 B. Drills. 
 
 Receive the goods ordered of Hart ]i. & M., 13 inst. 
 
THEORETICAL AND PRACTICAL BOOk-KEEPING. 75 
 
 19. 
 Buy at F. C. Bank by check, a New York draft for 200.00 at ^ •;{, Exchange, and remit it by letter 
 to E. Corning & Co. on <yc. (Ck. B. & C. B.) 
 
 Note.— Debit Corning& Co. 200.00, Excbange 50 cts. in C. B. and deduct 200.50 in (!k. B. 
 
 20. 
 Your note with interest due to-day lias been paid by V. C Bank and oliarged to your "fc. 
 
 ).♦ 
 Pay Hart, Bliven & Mead's sight draft on you, favor themselves, by check on F. C!. Bank 500.00. 
 
 j> 
 Geo. D. Whitney appropriates for his individual use, at cost i)rice, 1 pair B. D. Hangers; 1 Copying 
 Press; 1 I. C. Freezer. (S. B.) 
 
 Note. — Charge this to "Geo. D. Whitney, Private Account." 
 
 22. 
 Sell Barber & Swift 4 Copying Presses ; 25 kegs Cut Nails, 2,500 lbs. ; 10 Grindstones ; 5 doz. C. 
 Bells; 3 I. C. Freezers; 1,500 lbs. B. Metal; 20 doz. R. H. Bread Knives. Receive Cash on above 120.50. 
 
 Remit by letter to Pratt, Conway & Mills on "jc your note at 15 days with interest, payable at F. C. 
 
 Bank, 300.00. 
 
 25. 
 
 Receive credit at F. C. Bank for a note with interest, due yesterday, less collection ^ ^. 
 
 Deposit in F. C. Bank 400.00. 
 
 Pay Daily Tribune Advertising bill in cash 18.50. 
 
 26. 
 Pay E. Corning & Co.'s sight draft on you, favor themselves, by check on P. C. Bank, 100.00. 
 
 n 
 
 Receive of L. B. Mason his note at 15 days with interest 100.00, and his note at 30 days with 
 interest 100.00, payable at Trader's Bank, to balance "fc. 
 
 Tl. 
 Receive cash of Barber & Swift on '^c, 100.00. 
 
 Draw a sight draft on C. B. Shafer, Gasport, 150.00, in favor of F. C Bank and deposit the draft 
 to your credit less collection ^ ^. 
 
 Note.— Credit Shafer 150.00 debit Collection 75 cts. in C. B. and add 149.35 in Ck. B. 
 
 29. 
 
 Order by letter of E. Corning & Co. to be shipped via. N. Y. C. & H. R. R. R. 20 doz. W. Wrenches; 
 15 doz. C. S. Augers; 25 doz. C. Stretchers; 30 B. Drills; 25 doz. C. S. Axes. 
 
 Deposit in F. C. Bank 100.00. 
 
 30. 
 Receive credit at F. (3. Bank for a note due yesterday, less collection \ %. 
 
 Sell L. B. Mason on "jc 2 doz. C!. Bells; 4 Copying Presses; 25 kegs Cut Nails, 2,500 lbs.; 25 i)airs 
 B. D. Hangers; 2 doz. Steelyards; 5 doz. P. G. C. Hods. 
 
 Give Hemingway & Selden check on F. C. Bank in full of "jr. 109.38. 
 
76 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 « 
 30. 
 Accept Pratt, ('onway (S/Mills draft at 1 day sight, favor H. W. Hardy, payable at F. V,. Hank, 
 
 200.00. 
 
 J? 
 
 Pay li. N. Smith rent of Store one month by check on F. C. Bank. 
 
 J? 
 
 Pay Sundry Freight bills for the month in cash, 46.35 (Charge Mdse. a(,.). 
 
 INSTRUCTIONS. 
 
 You may now balance the Cash Book, foot the Sales Book, post the month's business, and take 
 a trial balance. 
 
 To balance the Cash Book it will require the cash in the^safe, 576.10, and the cash in the bank, 
 3038.9?, added together, this sum constituting the cash on hand, as explained in Note No. 2, page 73. 
 
 Post from the Cash Book and Journal the same as in Sept. and Oct. 
 
 In posting from the Sales Book, debit each person with the amount of his invoice and credit 
 Merchandise with the total sales, as shown by the footing of the last column of the Sales Book. This 
 footing should be $2014. 75. 
 
 As a matter of convenience, and as being less liable to make errors, you may first post all of the 
 entries from the Sales Book; then post all entries from the Journal; and last, post all entries from the 
 Cash Book. The dates will not in all cases appear in proper order in the Lodger, as they would when 
 the books are kept j)osted every day as they are in business. 
 
 The initials of the book from which the entry is posted are to be used in the Ledger, instead of a 
 complete explanation. Thus, if the entry comes from the Sales Book, enter in the explanation column, 
 S. B. ; if from the Cash Book, C. B. ; and if from the Journal, J. This plan will materially shorten 
 the work of posting and generally meet all requirements. 
 
 In posting, give Bills Receivable, Bills Payable, Expense and Merchandise each one-half a page 
 space, and give all other accounts one-fourth page each. 
 
 After completing the posting, take a Trial Balance, using the differences instead of the footings 
 of the accounts. These differences should be .ts follows: 
 
 DEBITS. 
 Merchandise, 1076.98; Bills Receivable, 200.00; Expense, 354.30; E. Langworthy, 58.75; L. B. 
 Mason, 307.75; Barber & Swift, 250.00; C. B. Shaf or, 156.00; Geo. D. Whitney, Private Account, 
 214.25; Interest, 1.01; Exchange, 50c; Collection, 2.39; Cash, 3614.07. 
 
 CREDITS. 
 Geo. B. Whitney, 5000.00; Bills Payable, 500.00; Pratt, C. & M., 125.00; Hart, B. & M., 399.50; 
 E. Corning & Co., 211.. 50. 
 
 DECEMBER 1, IBS—. 
 Receive of Barber & Swift, Georgetown, to balance account, their draft, in your favor, at 3 
 days sight, on E. R. Andrews, City, which he has accepted, payable at his office. 
 
 J) 
 Pay Gas Bill for November, in cash, 3.75. 
 
 Sell Oliver Bros. & (!o., Williamsburg, on "/c, 50 Kegs Cut Nails, 5000 lbs.; 10 B. Drills. 
 
 2. ■ . 
 
 Receive the goods ordered of Corning & Co., Albany, 29th ult. 
 
 J? 
 
 Receive of L. B. Mason, to balance account, his check on Traders' Bank, 107.75, and hi* note at 
 15 days, with interest, payable at Traders' Bank, 200.00. 
 
 3. 
 
 Receive cash of E. Langworthy, in full of "fc, 58.75. 
 
 >? 
 
 Deposit iu F. C. Bank, currency, 100.00; also, L. B. Mason's check rece'ivcd yesterday. 
 
THEORETIOAIi AND I'RACmCM, BOOK-KEKPING. 7i 
 
 Eemit bv letter to Hart, Blivea & Mead, to balance "/c, a draft on New York, 399.50, wliich you 
 purchase at F. C. Bank. Give cheek to cover the draft and exchange at ^ ^. 
 
 4. 
 
 Sell Barber & Swift, Georgetown, on % 10 doz. C. S. Axes; 3 I. G. Freezers; 500 lbs. B. Metal; 
 20 pairs B. I). Hangers. 
 
 Your acceptance due to-day has been paid by F. G. Bank and charged to your i^c. 
 
 5. 
 Buy of Hemingway & Selden, City, on "fe, 6 I. G. Freezers; 20 doz. P. 6. Goal Hods; 10 
 Copying Presses; 10 doz. Steelyards. 
 
 The draft drawn on C. B. Shafer, Gasport, 27th nit, has been returned protested for non-payment. 
 Protest fees, 1.50. Give F. G. Bank a check to cover the face of the draft and fees. 
 Note. — Debit Shafer's account for the draft and fees. 
 
 6 
 
 Sell L. B. Mason, City, on "/c, 5 Grindstones; 10 doz. G. S Augers; 12 doz. Steelyards, 30 jiairs 
 B. D. Hangers; 5 doz. Cow Bells, 3 I. G. Freezers; 50 doz. R. H. Bread Knives. 
 
 7. 
 Receive cash of E. R. Andrews for his acceptance due to-day. 
 
 8. 
 Receive a letter from Barber & Swift, Georgetown, stating that tlie Babbit Metal sold them 4th inst. 
 is of an inferior quality. They propose to keep the metal if a reduction of 4o per lb. is made. Write 
 to Hart, Bliven & Mead, of whom you purchased it, reciting the facts, and ask thei r consent t o make 
 the allowance and give you credit, or have the metal returned to them, as they may prefer. 
 (Memorandum.) 
 
 9 
 
 Receive of Oliver Bros. & Co., their note at 60 days, in your favor, payable at German-American 
 
 Bank, to apply on «/c. 150.00 
 
 )» 
 
 Receive cash of Barber & Swift, on «/c, 100.00. 
 
 10 . . 
 
 'Sell E. Langworthy, Marcellus, on "/c, '.> doz. G. S Augers; 10 Grindstones; 15 Kegs Gut Nails, 
 1500 lbs.; 5 B. Drills; 5 doz. R. H. Bread Knives.. 
 
 Your note, with mterest, favor of Pratt, Gouway & Mills, due to-day, has been paid by F. G. 
 Bank and charged to your "/c. 
 
 11 
 
 Accept Pratt, Conway & Mills draft on you, at 3 days sight, favor H. W. Hardy, payable at F. C. 
 Bank, 100.00. 
 
 12. 
 
 Order by letter, of Hart, Bhven & Mead, New Y'ork, to be shipped via W. S. R. R., 15 doz. Gow 
 Bells; 10 B. Drills; 10 doz. G. S. Axes; 20 doz. C. S. Augers. t 
 
 J? 
 
 Deposit in F. G. Bank, cash, 250.00. 
 
 13. 
 
 . Give Hemingway & Selden check on F. G. Bank, on <^, 200.00. 
 
 Hart, Bliven & Mead, in answer to your letter of 8th inst., instruct you to make the allowance 
 asked for by Barber & Swift, and charge the same to their <yc. 
 Note.— Credit Barber & Swift and debit H. B. & M. 
 
 14 
 Receive cash for note and interest in your favor, due to-day. 
 
78 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 15 
 Keceive the goods ordered of Hart, Bliveu & Mead, 12th inst. 
 
 16. 
 
 Accept E. Corning & C'o.'s draft ou you, at 3 days sight, favor of themselves, payable at F. C. 
 Bank, 211.50. 
 V 17. . • 
 
 Sell "Wm. Perrin's Sons, Frankfort, on "jc, 5 doz. C. S. Axes; 10 doz. W. Wrenches; 15 doz. C. 
 Stretchers; 24 pairs B. D. Hangers; 6 Copying Presses; 10 U C. Wringers. 
 
 Your acceptance, due to-day, has been paid and charged to your "/c by F. C. Bank 
 
 18. 
 
 C. B. Shafer has compromised with his creditors at 50 cents on the dollar. Receive cash from 
 him on that basis, in full settlement of his indebtedness. 
 
 Note. — Credit him in C. B. for the cash and make an entry in J. to close his account. 
 
 19. 
 Receive cash of Oliver Bros. & Co., in full of "jc, 123.50. 
 
 20. 
 Geo. D. Whitney drav/s from the business, for private use, by check on F. C. Bank, 250.00. 
 
 ?j 
 
 Receive cash for note and interest, in your favor, due to-day. 
 
 21. 
 Deposit cash in F. C. Bank, 500.00. 
 
 22. 
 
 Deliver to E. W. Cooper, 1 Copying Press; 1 I. C. Freezer, on H. N. Smith's order, same to apply 
 on rent. 
 
 Note. — Debit Expense in S. B. 
 
 j> 
 
 Your acceptance, due to-day, has been paid and charged to your account by F. C. Bank. 
 
 23 
 Receive cash of L. B. Mason, on "jc, 100.01). 
 
 24. 
 
 Remit by letter to E. Corning & Co., Albany, your note, their favor, at 30 days, 300.00; jour 
 note, their favor, at 60 days, 300.00; and your check on F. C. Bank, certified by W. D. Burgess, teller, 
 
 277.50, to balance "jc. 
 
 25 
 
 Sell Oliver Bros. &• Co., Williamsburg, on <^c, 16 doz. C. Stretchers; 10 doz. W. Wrenches; 9 
 Copying Presses, 20 doz. C. S. Axes; 5 B. Drills. 
 
 27. 
 Purchase, by cheek on F. C. Bank, a New York Draft, 200.00, &t \ % exchange, and remit same 
 to Hart, Bliven & Mead, to apply on «/c. 
 
 28 
 Pay sundry freight bills for the month, in cash, 25.18. 
 
 29 
 Receive cash for note and interest, in your favor, due to-day. 
 
 30 
 
 Receive cash of Wm. Perrin's Sons, in full of % 432.00; also of L. B. Mason, to apply on % 
 
 150.00. 
 
 31 
 
 Pay H. N. Smith rent for December, less amount of his order 22nd inst., by check on F. C. Bank. 
 Give Hemingway & Selden check on F. C. Bank, on <^, 100.00. 
 
THEORETICAL AND PKAOTIOAL BOOK-KEEPING. 
 
 79 
 
 31. 
 Pay clerk's salaries in full to date, in cash, 175.00. 
 
 Deposit in F. C. Bank all the cash on hand, 1289.62. 
 
 « INVENTORY, DEC. 31, 188-. 
 
 MERCHANDISE.— Goods on hand, as per Inventory Book,. 1381.93 
 
 EXPENSE.— Safe on hand, valued at 5^ below cost, .-. 213.75 
 
 ■ You may now balance the Cash Book, foot the Sales Book, post, make out Balance Sheet and close 
 the Ledger. The balance in F. 0. Bank should be 2809.44. The sales for the niontli should be 
 2252.75. Before making the Balance Sheet, close Geo. D. Whitney, Private Account, into Geo. D. 
 Whitney account. The Summary of your Balance Sheet should agree with the following: 
 
 SUMMARY. 
 
 Total Gains, -- - 836 03 
 
 " Losses, - 577 90 
 
 Net Gain of Firm, 248 12 
 
 Total Resources, 5717 87 
 
 " Liabilities, -- 934 00 
 
 Present Worth of Firm, 4783 87 
 
 Student's i Net Gain, 124 06 
 
 Present Worth, 124 06 
 
 Geo. D. Whitney's Net Credit, -.4535 75 
 i Net Gain,.. 134 06 
 
 Present AVorth, 4659 81 
 
 Present Worth of Firm, 4783 87 
 
 Note. — After you have completed the work upon your books, present them, together with all of the business 
 papers involved in the foregoing set, to the teacher for inspection. An examination will likewise be given, in which 
 you will be required to make the journal entries for all of the parties in a large variety of business transactions, together 
 with a review of the principles as outlined in the questions upon pages 53, 54 and 63, together with the following: 
 
 MISCELLANEOUS QUESTIONS. 
 
 NoTK. — Written answers are required to the following questions. 
 
 ' Prom what does Double Entry Book-keeping take its name? ^ How are you enabled to decide to 
 which of the two general classes of accounts used in double entry any jjarticular account belongs? 
 'Wliat title may be used instead of the proprietor's name? 'Mention three accounts that you can 
 always tell which side should be greater, if there is any difference? ^ To which of the two general 
 classes of accounts does a Personal account belong? * What circumstance might arise to place it in the 
 other class? ' Why is it necessary that Bills Payable and Bills Receivable should always bo debited and 
 credited with their face value? ' Mention some of the errors which will not affect the equality of the 
 Ledger. ' In case the Trial Balance does not prove, give the short tests to bo applied before proceeding 
 to examine the posting. '"Wlicn the cheek of another person is received, how is it journalized? 
 " Give an example of an inventory showing a liability. " Give the two ways of finding the Present 
 Worth in double entry. "What is meant by Insolvency? "What is the object of closing accounts 
 showing lossos and gains? '* In closing an account, why is the equality of the Lodger not affected? 
 '• What is meant by the acceptance of a draft? "Give the general rule for journalizing drafts when 
 drawn on account. '" What journal entry is made when the proprietor commences business with both 
 Resources and Liabilities? " Wliat would a Shipment account show at the time of making a Balance 
 Sheet, if no Account Sales had been received? " What would a Consignment account sliow, if tmclosed 
 at time of making a Balance Sheet? "In closing an account having a resource inventory, why is it 
 necessary to credit the account with the inventory before it can be closed? " After the account has 
 been closed, why must the inventory be carried below the rulings? ^ Why is tiie loss or gain not 
 carried below the rulings? "When are personal accounts usually closed? ** Do errors in journalizing 
 affect the equality of the Ledger? *" What advantage is obtained by using the Cash Book as a principal 
 book? "How is the work of posting from the Cash Book performed? ''What advantage is obtained 
 by using the Sales Book as a principal book? ^ How are transactions with the bank treated wlien no 
 bank account is kept in the Ledger, and how are the entries made for such transactions? ** How is the 
 Cash Book balanced when there is cash both in the safe and in the bank? 
 
80 
 
 THEOKETICAI. AND PRACTICAL BOOK KKKPING. 
 
 
 zMz^ ^^/£fcf- 
 
 
 
 J^^^TO'Z.^.d^ yV^ (yi^i>^^ 
 
 
 -J-A^ ^^^/-z^^^Z^t^.^^ -<^^<f^ -^t^-z/ ^^■^■'-z^-c-i^-z^ -^^C2>^^^'2^ ..S^^.^-i^U^ ^Z^y^^i^iii^ 
 
SINGLE ENTRY. 
 
 ■ The distinguishing feature of Single Entry book-keeping is, that only Personal accounts are 
 kept in the Ledger. 
 
 ' This system of book-keeping contemplates such a record, or the filing of such documents for 
 reference only, as will enable the proprietor to determine at any time the Kesources and Liabilities of 
 his business, which cannot be found by taking an inventory. 
 
 ' For this purpose the practice is to journalize and post personal accounts only. Cash receipts and 
 payments are entered in the Cash Book, and Bills Receivable and Bills Payable in the Bill Book. 
 
 ' It is sometimes found necessary to employ additional books of record, the number and character 
 depending upon the nature and extent of the information which it is desired to preserve: as. Order 
 Book, Livoice Book, Sales Book, etc. 
 
 ' Since no accounts showing gains and losses are kept in Single Entry, it follows that an itemized 
 statement of the gains and losses of the business cannot be obtained. 
 
 'The Net Gain or Net Loss of the business can be determined, however, in the following 
 manner: First ascertain the Present Worth, by finding the difference between the Resources and 
 Liabilities, and then compare it with the Investment. 
 
 ' If the present worth is greater than the investment, the difference shows a net gain; if less, a 
 net loss. 
 
 The following sets are designed to illustrate book-keeping by Single Entry, also changing Single 
 Entry books to Double Entry. The books to be used are Journal, Ledger, Cash Book and Bill Book. 
 The form of Journal is illustrated on page 82. The Bill Book is to be kept in the form used hereto- 
 fore, and the Cash Book as illustrated on page 89. 
 
 81 
 
82 
 
 THEORETICAL AND PKACTIC'AL BOOK-KEEPING. 
 
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THEOKETICAL AND PRACTICAL BOOK-KEEPING. 83 
 
 JANUARY 1, 188-. 
 
 Commence business with the following resources: Store and Lot valued at 2500.00; Horse and 
 Wagon valued at 235.00; Cash, 500.00. {Enter in Journal and Cash Book; see form of Journal oti 
 page 82, and form of Cash Booh on page 89.) ^^ 
 
 Buy of Smith, Perkins & Co., City, on % at 15 days, 10 bbls. A Sugar, 1250 lbs., @ 10c. ; 10 ch. 
 Japan Tea, 350 lbs., @ 60o.; 10 ch. Black Tea, 350 lbs., @ 45c.; 5 half bbls. Mackerel, @ 4.00; 10 
 mats Java Coffee, 1250 lbs., @ 22c. {Enter in J.; seepage 82.) 
 
 Note. — It is unnecessary to enter the items in tlie Journal, tlie Invoice itself being placed on file for reference. 
 
 Sell A. Thompson, Aurora, on <^c, 3 ch. J. Tea, 70 lbs., @ 70c.; 2 ch. B. Tea, 70 lbs., @ 50c. 
 {J.; see form on page 82.) 
 
 Cash sales, per Cash Drawer, 175.38. (C. B.; see 3, page 81.) 
 
 2. 
 Sell Mrs. Eliza Smith, 37 Main St., on afc, 10 lbs. A Sugar, @ lie; 1 lb. J. Tea, @ 85c.; 2 lbs. 
 J. Coffee, @ 28c. {J.) 
 
 Buy of Smith, Perkins & Co., on "je, 10 bbls. Brown Sugar, 1250 lbs., @ 9c.; 10 sacks Rio Coffee, 
 
 800 lbs., @ 18c. 
 
 J? 
 
 Sell Wm. Johnson, 144 Lyell Ave., on «/f, 4^ lbs. Mackerel, @ 12c.; 1 lb. B. Tea, 55c.; 3 lbs. Rio 
 Coffee, @ 34c. 
 
 3. 
 
 Give Smith, Perkins & Co., your note at 10 days, payable at College Bank, to apply on "jc, 300.00. 
 {J. and B- B.; see 3, page 81.) 
 
 Note. — Before entering this note, draw a red line across both pages in the Bill Book, below the last entry, to separate 
 this from the previous sets. 
 
 Receive cash of A. Thompson, on "fc, 15.00. {J. and C. B.) * 
 
 ?? 
 Buy of Smith, Perkins & Co., on "/c, 13 doz. Brooms, @ 2.35; 4 doz. Wood Pails, @ 3.00. 
 
 jj 
 
 Sell James Jamieson, 27 Broadway, on 'fc, 25 lbs. A Sugar, @ 10c. ; 4 lbs. J. Tea, @ 80c. ; 3 lbs. 
 Rio Coffee, (§) 34c. 
 
 5. 
 
 Pay Clerk cash, to apply on Salary, 5.00. {C. B.) 
 
 ?j 
 Cash sales, per Cash Drawer, 246.75. {C. B.) 
 
 6. 
 Sell Mrs. Eliza Smith, on ajc, 10 lbs. B. Sugar, @ 10c. ; 4^ lbs. M:ackerel, @ 13c. ; 2 Wood Pails, 
 @ 25c. 
 
 Receive cash of Wm. Johnson, 3.00, and of James Jamieson, 5.00, on "/c. {J. and C. B.) 
 
 7. 
 Buy of H. Gordon •& Co., City, on your note at 20 days, payable at College Bank, 2 bbls. A Sugar, 
 250 lbs., @ 10c. ; 2 bbls. Brown Sugar, 350 lbs., @ 8^c. ; 1 ch. Japan Tea, 35 lbs., @ 55c. {B. B.; 
 see S, page 81; also see note below.) 
 
 Note. — No entry is to be made in the Journal, because your indebtedness is not to Gordon & Co. personally, but ip 
 the form of Bills Payable, and is shown by the Bill Book. 
 
 Sell Mrs. Eliza Smith, on ajc, 3 Wood Pails, @ 22c. ; 1 Broom, 25c. ; 1 lb. Rio Coffee, 24c, 
 
84 V THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 7. 
 
 Cash sales for the day, per Cash Drawer, 127.64. 
 
 8. 
 Eeceiye of Alex. Thompson, his note at 3 days, payable at Traders' Bank, to apply on <^, 25.00. 
 {J.andB.B.) 
 
 Note. — A good rule for the student, who is familiar with double entry, to use in journalizing by single entry, is, first 
 to decide what journal entry would be made for the transaction by the double entry method ; then if he find in such entry 
 that a person is to be either debited or credited, the same person must be debited or credited in tlie single entry Journal, 
 otherwise no journal entry is to be made. 
 
 9. 
 
 Sell Wm. Johnson, on "jc, 50 lbs. B. Sugar, @ 9^0. ; 1 Broom, 25c. ; 5 lbs. Rio Coffee, @ 24c. ; 2 
 
 Wood Pails, @ 22c. 
 
 )? 
 
 Pay cash for ton of Coal for office use, 6.50. 
 
 10. 
 Pay Smith, Perkins & Co., cash to apply on "jc, 100.00. (/. a7id 0. B.) 
 
 )j 
 Buy of Geo. F. Doyle, Salina, on <^, at 10 days, 25 bbls. Salt, @ 1.25. 
 
 Wm. Johnson returns for credit, 4 lbs. of the Eio Coffee bought Otli Inst., the quality not being 
 satisfactory. 
 
 Sell A. Thompson, 10 bbls. Salt, @ 1.40; 2 ch. J. Tea, 70 lbs., @ 70c.; 3 bbls. B. Sugar, 375 lbs., 
 @ 10c. Eeceive in payment, cash, 25.00. Balance on "/c. (/. and C. B.) 
 
 Note. — In transactions like the above in single entry, it is customary to make an entry in the Journal debiting the 
 person with the whole bill purchased, and then make a second entry giving him credit for the amount paid. 
 
 Pay Clerk cash to apply on Salary, 10.00. 
 
 ?) 
 
 Receive cash of Mrs. Eliza Smith, to ap])ly on "jc, 1.50. 
 
 13. 
 Pay Smith, Perkins & Co., to apply on «jc, cash, 50.00, and your note at ton days, payable at 
 College Bank, 100.00. {J., 0. B. and B. B.) 
 
 Sell Wm. Johnson, on «/c, 10 lbs. A Sugar, @ 10c. ; 2 lbs. J. Tea, @ 85c. ; 5 lbs. Rio Coffee, @ 22c. 
 
 14. 
 Buy of Geo. F. Doyle, on % at 10 days, 25 bbls. Salt, @ 1.25. 
 
 J? 
 
 Receive cash of A. Thompson, for his note of 8th inst. due to-day, 25.00. (C. B. and B. B.) 
 
 Cash sales, as per Cash Drawer, 358.40. 
 
 15. 
 
 Pay Geo. F. Doyle's sight draft on you to apply on <5fc, in cash, 25.00. (/. and G. B.) 
 
 Pay Book-keeper cash, to apply on Salary, 25.00. 
 
 Receive of A. Thompson, his note at ten days, payable at Traders' Bank, to balance % 119.50. 
 
 Sell James Jamieson, on % 10 lbs. B. Sugar, @ 9^0. ; 2 lbs. J. Tea, @ SOc. ; ^ lbs. Rio Coffee, @ 24c. 
 
 16. 
 Pay your note of 3d inst., favor of Smith, Perkins & Co., in cash, 300.00. 
 
 Note.— You may now balance the Cash Book and post the foregoing transactions. Give each account one-fourth 
 of a page space. The books are to be changed to Double Entry after you have completed the posting, full instructions 
 for which are given below. You should study those instructions very carefully, and perform the work precisely as they 
 direct. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 85 
 
 INSTRUCTIONS FOR CHANGING THE BOOKS TO DOUBLE ENTRY. 
 
 1st. *An inventory is to bo taken of tlie Mdse. and other property on lianil, its value being 
 estimated at what the jiroperty coukl be purchased for at -the present time. Tlie result of such 
 inventory is as follows: 
 
 INVENTORY, JANUARY 16, 188-. 
 
 Mdse. on hand, yiov Inventory Book, 270 7:1 
 
 Horse and Wagon, valued at _ 225 00 
 
 StoreandLot, " " 2500 00 
 
 Note. — You may copy tlie above Inventory in your Journal, immediately following the last entry. 
 
 2d. 'The resources and liabilities exhibited by the various books, viz: Ledger, Cash Book and 
 Bill Book, are next to be obtained, and, with the Inventories, arranged in a convenient form, as shown 
 below, for determining the condition of the business. 
 
 STATEMENT, JANUARY 16, U 
 
 RESOURCES. 
 
 Mdse., per Inventory, 270 72 
 
 Store and Lot, per Inventory, 2500 00 
 
 Horse and Wagon, per Inventory, 225 00 
 
 Cash, per Cash Book, . 961 17 
 
 Bills Eeceivable, per Bill Book, 119 50 
 
 Personal Accounts, per Ledger, _ 16 93 
 
 4093 32 
 
 LIABILITIES. 
 Bills Payable, per Bill Book,_._ 
 Personal Accounts, per Ledger, 
 
 165 50 
 566 50 
 
 732 00 
 
 SUMMARY. 
 
 Total Eesources, 4093 32 
 
 " Liabilities, 732 00 
 
 Present Worth, 3361 32 
 
 Present Worth, 3361 32 
 
 Investment, 3225 00 
 
 Net Gain, 136 32 
 
 Note. — Make a Statement like the above in your Trial Balance or Statement book. Do not copy the above form 
 merely, but verify all of the results by your own books. 
 
 3d. '° The Present Worth is found, as shown above, by taking the difference between the Kesources 
 and Liabilities; and " the Net Gain is then found by taking the difference between tlio Present Worth 
 and the Investment. 
 
 4th. " Since in Single Entry the Ledger contains only a portion of the Resources and Liabilities, 
 viz: Personal accounts, it is apparent that, to change it to Double Entry, such additional accounts 
 must be opened as will cause the Ledger to exhibit all of the Resources and Liabilities of the business, 
 as shown by the foregoing Statement; and "the Net Gain must be credited to the Proprietor's account. 
 
 Note. — You may now proceed, in accordance with the above instructions, to open the additional accounts required 
 to place your Ledger in the Double Entry form. After you have completed this work, your accounts should correspond 
 with those given on pages 86-87. Mdse. will require one-half of a page space; all other accounts one-fourth of a page 
 each. 
 
 5th. " After the change to Double Entry has been made in accordance with the foregoing direc- 
 tions, your Ledger must be in balance, because all of the Resources appear upon the Dr. side, and all 
 of the Liabilities and the Present Worth, which is the difference between tlie Resources and Liabilities, 
 appear upon the Cr. side. 
 
86 
 
 THEOKETIOAL AND PRACTICAL BOOK KEEtlUG. 
 STUDENT. 
 
 188- 
 Jan. 
 
 IG 
 
 Present Worth, 
 
 
 3361 
 
 33 
 
 188- 
 Jan. 
 
 1 
 16 
 
 16 
 
 3361 
 
 32 
 
 
 Jan. 
 
 Investment, 
 JSTet Gain, 
 
 Present Worth, 
 
 83 
 
 3325 
 136 
 
 3361 
 
 3361 
 
 33 
 
 3^ 
 33 
 
 
 
 
 SMITH, PERKINS & CO. 
 
 City. 
 
 
 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Jan. 
 
 3 
 
 Bills Pay., 
 
 82 
 
 300 
 
 
 Jan. 
 
 1 
 
 Mdse. 
 
 82 
 
 787 
 
 50 
 
 
 10 
 
 Cash, 
 
 
 100 
 
 
 
 2 
 
 a 
 
 82 
 
 256 
 
 50 
 
 
 13 
 
 Sundries, 
 
 
 150 
 
 5 5 
 
 
 
 3 
 
 a 
 
 82 
 
 35 
 
 1 7 S 
 
 
 A. THOMPSON, Aurora. 
 
 188- 
 Jan. 
 
 Mdse. 
 
 83 
 
 84 
 100 
 
 50 
 
 188- 
 Jan. 
 
 3 
 
 8 
 
 11 
 
 13 
 
 184 
 
 50 
 
 
 
 
 Cash, 
 
 Bills Kec'v, 
 Cash, 
 Bills Rec'v, 
 
 82 
 
 15 
 
 35 
 
 35 
 
 119 
 
 184 
 
 50 
 
 50 
 
 MRS. ELIZA SMITH, 27 Main Street. 
 
 188- 
 Jan. 
 
 Mdse. 
 
 
 
 
 188- 
 
 
 82 
 
 2 
 2 
 
 t 
 
 51 
 01 
 93 
 
 45 1 
 
 Jaii. 
 
 13 
 
 Cash, 
 
 50 
 
 WM. JOHNSON, 144 Lyell Ave. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Jan. 
 
 2 
 
 Mdse. 
 
 82 
 
 1 
 
 57 
 
 Jan. 
 
 6 
 
 Cash, 
 
 
 3 
 
 
 
 9 
 
 a 
 
 
 6 
 
 64 
 
 
 9 
 
 Mdse. ret'd. 
 
 
 
 96 
 
 
 13 
 
 i( 
 
 
 3 
 
 J 3 
 
 80 
 
 01 
 
 
 
 
 
 s 
 
 »t 
 
 JAMES JAMIESON, 27 Broadway. 
 
 188- 
 Jau. 
 
 3 ! Mdse. 
 
 151 " 
 
 
 
 
 188- 
 
 
 82 
 
 6 
 3 
 
 9 
 
 18 
 
 75 
 
 93 i 
 
 Jan. 
 
 6 
 
 Cash, 
 
 GEO. F. DOYLE, Sallna. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Jan. 
 
 15 
 
 Paid Draft, 
 
 
 25 
 
 
 Jan. 
 
 10 
 14 
 
 Mdse. 
 
 
 31 
 31 
 
 35 
 
 25 
 
 5 
 
 MERCHANDISE. 
 
 188-1 
 Jan. 16 
 
 Goods, per Inv. 
 
 370 
 
 72 
 
THEORETICAL ANB PRACTICAL BOOK-KEEPING. 
 
 REAL ESTATE. 
 
 87 
 
 .188- 
 Jaii. 
 
 IG 
 
 Store and Lot, 
 
 2500 
 
 EXPENSE. 
 
 188- 
 Jan. 
 
 IG 
 
 Horse and Wagon, 
 
 235 
 
 CASH. 
 
 188- 
 Jan. 
 
 16 
 
 Bal. per C. B. 
 
 
 961 
 
 17 
 
 
 
 BILLS-RECEIVABLE. 
 
 188- 
 Jan. 
 
 IG 
 
 On hand, per B. B. 
 
 119 
 
 50 
 
 BILLS PAYABLE. 
 
 
 
 
 188- 
 Jan. 
 
 16 
 
 Outstanding, per B. B. 
 
 165 
 
 50 
 
 Note. — You may now continue the business, the books to be Itept by Double Entry. The combined Day Book and 
 Journal form, as illustrated on page 45, is to be used. Use the Double Entry form of Cash Book, and post from this 
 book as in the preceding sets. Continue the use of the Bill Book as heretofore. 
 
 JANUARY 17, 188-. 
 Buy of H. Gordon & Co., on "jc, 10 bbls. B. Sugar, 1250 lbs., @ 8c. 
 
 Cash sales, per Cash Drawer, 75.35, 
 
 18. 
 Sell Wm. Johnson, on ajc, 3 lbs. J. Tea, @ 80c.; 5 lbs. Rio Coffee, @ 35c.,- 30 lbs. A Sugar, @ lie. 
 
 Sell E. T. Miller, on his note at 15 days, payable at City Bank, 5 bbls. A Sugar, 625 lbs., @ lO^c; 
 10 bbls. B. Sugar, 1250 lbs., @ 9c.; 3 ch. J. Tea, 105 lbs., @ 65c. 
 
 19. 
 Receive cash of Mrs. Eliza Smith, to balance <^. 
 
 )j 
 Buy of H. Gordon & Co., on % 15 bbls. A Sugar, 1875 lbs., @ 9^0. 
 
 20. 
 Sell James Jamieson, on °jc, 20 lbs. A Sugar, @ lie. ; 5 lbs. Rio Coffee, @ 24c. ; 2 bbls. Salt, @ 1.50. 
 
 Cash sales, per Cash Drawer, 115.05. 
 
 21. 
 
 Give Geo. F. Doyle your note at 30 days, payable at College Bank, to balance "jc. 
 
 Buy of H. Gordon & Co., on % 5 cli. J. Tea, 175 lbs., @ GOc. 
 
 22. 
 Sell A. Thompson, 10 bbls. Salt, @ 1.40; 3 cli. J. Tea, 70 lbs., @ 70c.; 3 ch. B. Tea, 70 lbs., 
 55c. Receive cash, 50.00. Balance on «fc. 
 
88 THEORETICAL AND PRACTICAL BOOK-KEEPllJ^O. 
 
 22. 
 Pay Smith, Perkins & Co., cash on "/•, 100.00. 
 
 Cash sales, per Casli Drawer, 98.34. 
 
 23. 
 Sell Frank C. Ilcdstrom, Sardinia, 5 ch. B. Tea, 175 lbs., @ 55c.; 2 doz. W. Pails, @ 2.60; 4 doz. 
 Brooms, @ 2.G5; 2 half bbls. Mackerel, @ 4.75; 5 bbls. A-Sugar, 625 lbs., @ lOic. Receive his note 
 at 10 days, payable at First National Bank, 100.00. Balance on '^c. 
 
 Eeceive cash of Wm. Johnson on "/c, 5.00. 
 
 24. 
 
 Buy of Geo. P. Boyle, on yonr note at 20 days, 50 bbls. Salt, @ 1.25. 
 
 ?» 
 Cash sales, per Cash Drawer, 138.40. 
 
 25. 
 Pay cash for permanent improvements on store, 200.00. 
 
 Pay Gaa Bill in cash, 11.75. 
 
 Sell Wm. Johnson, on o/c, 5 lbs. J. Tea, @ 80c. ; 50 lbs. B. Sugar, @ 9^0. ; 10 lbs. Rio Coffee, @ 25c. 
 
 26. 
 Receive cash of James Jamieson, to balance ^^c, 11.33. 
 
 Pay your note of 13th inst., due to-day, in cash. 
 
 27. 
 Buy of Smith, Perkins & Co., 10 bbls. A Sugar, 1250 lbs., @ 10c. ; 10 bbls. B. Sugar, 1250 lbs., 
 @ 9c. ; 5 ch. J. Tea, 175 lbs., @ 60c.; 10 mats J. CofEec, 1250 lbs., @ 22c. Give them your note at 
 10 days, 300.00. Balance on ajc. 
 
 28. 
 Pay H. Gordon & Co. cash on ofc, 178.44. 
 
 ?? 
 
 Receive cash of A. Thompson, for his note of 15th inst., due to-day. 
 
 29. 
 Cash sales, per Cash Drawer, 216.40. 
 
 ?) 
 
 Sell the Horse and Wagon for cash, 235.00. 
 
 30. 
 Pay your note of 7th inst., due to-day, in cash. 
 
 31. 
 Pay Book-keeper 25.00, and Clerk 15.00, cash in full of services to date. 
 
 INVENTORIES, JANUARY 31, 188-. 
 
 MDSE., as per Inventory Book, 426 48 
 
 REAL ESTATE.— Store and Lot, valued at 2700 00 
 
 You may now post and make a Balance Sheet. After you have completed the Balance Sheet, 
 close the Ledger and bring down the resources and liabilities, and prove them upon a separate sheet of 
 paper, as illustrated on page 40, and present the proof, together with your Ledger, to the teacher for 
 inspection and approval. 
 
 A few results are appended: Cash on hand, 1333.79; Total Resources, 4965.58; Liabilities, 
 1346.50; Net Gain, 257.76. 
 
rMEORETlCAL AND PRAOTICAL BOOK-KEEPING. 
 FEBRUARY 1, 188-. (See Note No. 1.) 
 
 Bd 
 
 (Student's name). 
 
 Commenced business tliis day with the following resources and 
 liabilities: 
 
 Cash on hand, per Cash Book, 
 On deposit in College Bank, 
 100 bl)ls. Flour, 
 
 C. D. French's note, per Bill Book, 
 Jas. Harris, on "jc, 
 
 (Student's name). 
 
 Note favor Geo. Wells, per Bill Book, 
 Interest accrued, 80 days {see Note No. 2), 
 Due Hill & Co., on "jc, 
 
 College Bank, 
 
 Amount on deposit, as above, 
 
 Jas. Harris, 
 
 On account, as above. 
 
 Hill & Co., 
 
 On account, as above, 
 
 2. 
 White Bro's, 
 
 Bo't Mdse. on "jc, per Invoice No. 1, 
 
 Hill & Co., 
 
 Paid them, on cjc, by check on College Bank, 
 
 College Bank, 
 
 Check favor of Hill & Co., 
 
 Cr. 
 rces and 
 
 
 
 8500 
 
 @ 8.00, 
 
 3000 
 
 4000 
 
 800 
 
 200 
 
 500 
 
 
 
 Dr. 
 
 500 
 
 () 
 
 375 
 
 67 
 
 881 
 
 Dr. 
 
 
 
 4000 
 
 Dr. 
 
 
 
 500 
 
 Cr. 
 
 
 
 375 
 
 Cr. 
 
 
 
 1181 
 
 Dr. 
 
 
 
 100 
 
 Cr. 
 
 
 
 100 
 
 07 
 
 SINGLE ENTRY CASH BOOK. 
 
 188 
 
 
 
 RECEIPTS. 
 
 PAYMENTS. 
 
 Feb. 
 
 1 
 4 
 
 Invested by Student, 
 Deposited in College Bank, 
 
 3000 
 
 
 500 
 
 
 
 4 
 
 15 bbls. Beef, . @ 18.75, 
 
 281 
 
 25 
 
 
 
 
 6 
 
 C. D. French's note, 
 
 200 
 
 
 
 
 
 J? 
 
 White Bro's, on "je. 
 
 
 
 500 
 
 
 
 7 
 
 R. J. Barton, to apply on Mdso. 
 
 300 
 
 
 
 
 
 8 
 
 Office Books and Stationery, 
 
 
 
 25 
 
 
 
 9 
 
 O.W. Jones, on <f. 
 
 250 
 
 
 
 
 
 10 
 
 Deposited in College Bank, 
 
 
 
 1000 
 
 
 
 12 
 
 Jas. Harris, on «ifc. 
 
 200 
 
 
 
 
 Note No. 1. — The month of February is to be worked by Single Entry, as explained in the previous set. A few of 
 the first entries, as they should be made in your Journal, are given above. In addition to the Personal accounts, 
 however, a Bank account is to be kept in the Ledger. Use the Single Entry form of Cash Book, as illustrated above, 
 and continue the use of the Bill Book as heretofore. On March 1 the books are to be changed to Double Entry, and 
 the business continued through March by that method. 
 
&<^ •THEOREl'ICAt, AND PRACTICAL BOOK-KEEPlKft. 
 
 FEBRUARY, 188-. 
 1. Commence business this day with the following resources and liabilities: 
 
 Resources: Cash on hand, 3000.00; on deposit in College Bank, 4000.00; 100 bbls. Hour, @ 
 8.00; C. D. French's note, dated Jan. 4th last, at 30 days, :<!00.00; Jas. Harris owes on °k 
 600.00. 
 Liabilities: Your note favor of Geo. Wells, dated Nov. 13 last, at 90 days, payable at College 
 Bank, with interest, 500.00; Interest accrued 80 days on above note; due IIHl & Co., on % 
 375.00. 
 3. Buy of White Bro's, on «/c, 50 bbls. Pork, @ 15.00; 25 bbls. Beef, @ 17.25. 
 
 3. Give Hill & Co. your check on College Bank, to apply on <^c, 100.00. (,/.) 
 Sell 0. W. Jones, on ojc, 25 bbls. Flour, @ 9.00; 15 bbls. Pork, @ 1G.50. 
 
 4. Deposit cash in College Bank, 500.00. 
 Sell for cash, 15 bbls. Beef, @ 18.75. 
 
 5. Buy of Geo. J. Marsh, on your note at 15 days, 50 bbls. Beef, @ 17.25. 
 
 6. Receive cash for a note due to-day. 
 Pay White Bro's cash on % 500.00. 
 
 7. Sell R. J. Barton, 20 bbls. Beef, @ 18.50; 25 bbls. Flour, @ 9.00. Receive cash, 300.00. Balance 
 
 on 'fc. 
 
 8. Pay cash for set of Office Books and Stationery, 25.00. 
 
 9. Receive cash of 0. W. Jones, on % 250.00. 
 
 10. Deposit cash in College Bank, 1000.00. 
 
 11. Sell H. A. Strong, on his note at 60 days, 25 bbls. Pork, @ 16.25. 
 
 12. Buy a Safe for office use, and pay for same by check on College Bank, 225.00. 
 Receive cash of Jas. Harris, on ojc, 200.00. 
 
 13. Buy for cash, 25 bbls. Pork, @ 15.00. 
 
 14. Sell 0. W. Jones, 25 bbls. Beef, '@ 18.50; 25 bbls. Flour, @ 9.25. Receive his note at 10 days, 
 
 with interest, payable at City Bank, 500.00. Balance on "jc. 
 Your note and tlie interest upon it, 7.75, due to-day, has been charged to your «/c at College Bank. 
 
 15. Sell for cash, 10 bbls. Pork, @ 16.50. 
 
 16. Draw cash from the business for your private use, 50.00. 
 
 17. Sell Bcnj. C. Green, 15 bbls. Beef, @ 18.50; 10 bbls. Pork, @ 16.35. Receive cash, 150.00, and 
 
 his note at 60 days, payable at Traders' Bank, for balance. 
 
 18. Give White Bro's your check on College Bank, to apply on ^'je, 300.00. 
 
 20. Sell for cash, 10 bbls. Flour, @ 9.25; 5 bbls. Pork, @ 16.25. 
 
 21. Buy of White Bro's, on afc, 25 bbls. Beef, @ 17.25. 
 
 22. Receive cash of Jas. Harris, to balance ojc, 300.00. 
 
 23. Buy of Geo. J. Marsh, on your note at 25 days, payable at College Bank, 50 bbls. Pork, @ 15.00. 
 R. J. Barton has compromised with his creditors at 25 ^. Settle his "fc on that basis, receiving cash. 
 Pay your note die to-day in cash. 
 
 24. Receive cash of 0. W. Jones, on ofc, 222.50. 
 
 Get H. A. Strong's note, received 11th inst., discounted at College Bank, and receive cash for the 
 proceeds. (Jf.. Wniv ^.^ jujuk ji&!\ 
 
 26. Sell D. B. Oliver, on <^, 20 bbls. Pork, @ 16.25; 10 bbls. Beef, @ 18.50. 
 
 27. Receive cash for a note, with interest, due to-day. 
 
 28. Pay Salaries, 50.00, and Rent of Store, 50.00, in cash. 
 
 INVENTORIES, FEBRUARY 28, 188-. 
 
 15 bbls. Flour, @ 8.00; 40 bbls. Pork, @ 15.00; 15 bbls. Beef, @ 17.25. 
 Office Safe, valued at cost. 
 
 Balance the Cash Book. The cash on hand should be 2807. 69. In posting, give Bank account 
 one-half of a page space; other accounts one-fourth of a page. After posting, proceed to cliange the 
 books to Double Entry, according to the instructions given in the previous set on page 85. The State- 
 ment should show a Present Worth of 7534. 94. 
 
 After the necessary steps have been taken to change the Ledger to Double Futiy, take a Trial 
 Balance, to be sure that your Ledger is in balance before proceeding witu Maicn Continau tiie use 
 of the Bill Book and Cash Book in March, using the Double Entry form of Gasli Book. 
 
THteOftETiCAL AND iPKACTICAL BOOKKEEPING. &1 
 
 MARCH, 188-. 
 
 1. Admit Geo. H. Whitney and W. D. Welch as equal partners in the business. 
 
 Geo. H. Whitney invests: Cash, 6324.34; A. C. Holden's note, dated Jan. 7th last, at 60 days, 
 
 with interest, 1200.00; Interest accrued to date. 
 W. D. Welch invests: Cash, 6054.94; a note made by Bently & Gardner, dated Feb. 16th last, at 
 
 90 days, 1500.00; Discount to maturity. 
 Sell for cash, 15 bbls. Flour, @ 9.25. ' . 
 
 Deposit in College Bank, cash, 13000.00. 
 
 2. Buy of Clark & Co., 300 b])ls. Beef, @ 17.25; 50 bbls. Pork, @ 15.00. Give in payment, your 
 
 note at 10 days, 6175.00; your note at 30 days, 750.00; both notes payable at College Bank, 
 with interest. 
 Take out policy of insurance for one year on property in store, 10,000.00. Pay premium at 1^ ^ 
 in cash. 
 
 3. Keceive cash of 0. W. Jones, on o/c, 100.00. 
 
 4. Sell Redmond Bro's, Vienna, 25 bbls. Pork, @ 16.25; 25 bbls. Beef, @ 18.50. Receive in payment, 
 
 cash, 168.75; their note at 20 days, with interest, payable at First National Bank, Vienna, 
 
 400.00. Balance on «jc. 
 6. Deposit cash in College Bank, 500.00. 
 
 Buy of H. A. TrafEord, House and Lot, 344 Plymouth Ave. , for 6000. 00. Assume a mortgage on 
 
 same of 2000.00, with interest accrued from Jan. 2 last, 63 days, and pay him the balance by 
 
 check on College Bank. 
 Buy 500 bbls. Flour, @ 8. 00, and pay for same by check on College Bank. 
 8. Pay White Bro's, to apply on "jc, B. C. Green's note rec'd 17th iilt., less discount to maturity. 
 Accept a draft at 10 days' sight, drawn on W. D. Welch by W. T. Owens, for his private account, 
 
 600.00. 
 10. Pay cash for Coal for office use, l'i.80. 
 
 Receive of D. B. Oliver, to apply on "jc, his check on Merchants' National Bank, 310.00. 
 
 Sell 0. W. Jones, on ajc, 200 bbls. Flour, @ 9.25; 100 bbls. Beef, @ 18.50. 
 
 A. C. Ilolden, whose note Whitney invested and guaranteed its jiayment, has compromised with 
 
 his creditors at 50 ^. Receive cash and charge the deficiency to Whitney's account. 
 
 12. Deposit in College Bank, Oliver's check, rec'd 10th inst. 
 Pay Hill & Co. cash to balance "jc. 
 
 Receive cash of 0. W. Jones, on ojc, 3543. 75. 
 
 13. Buy of Scott, Seymour & Scott, on ojc, 250 bbls. Pork, @ 15.00. 
 
 . Exchange checks with Wm. E. Scott for Ids accommodation, 500.00. His check is dated 16th inst. 
 
 15. Your note due to-day, with interest, has been charged to your "jc at College Bank. 
 
 16. Sell for cash, 100 bbls. Beef, @ 18.50. 
 
 Wm. E. Scott being unable to provide for the check rec'd of him 13th inst., gives you his note at 
 10 days, with interest, endorsed by Morgan & Howe. 
 18. Draw a draft on Redmond Bro's at 60 days, for 200.00, and get it discounted at College Bank, 
 receiving credit for the proceeds. 
 Sell D. B. Oliver, on % 150 bbls. Pork, @ 16.25; 100 bbls. Flour, @ 9.25. 
 
 Insure the House No. 344 Plymouth Ave. for 4000.00, at 1^ ^, for one year. Pay premium in 
 cash. 
 21. Receive of 0. W. Jones, to balance '^c, his note at 60 days for 250.00. 
 
 Accept Scott, Seymour & Scott's draft on you at 5 days' sight, payable at College Bank, to apply 
 
 on afc, 2000.00. 
 Pay an acceptance due to-day in cash. 
 33. Yotir note due to-day has been charged to your ojc at College Bank. 
 
 Student and Geo. H. Whitney doubting the responsibility of 0. W. Jones, whose note the firm 
 holds, W. D. Welch offers to buy the note at 75 ^ of its face, which ofl'er is accepted. Make 
 an entry to adjust the transaction. 
 24. Pay White Bro's cash on <^c, 100.00. 
 
 26. Buy of Geo. J. Marsh, 150 bbls. Flour, @ 8.00; 50 bbls. Beef, @ 17.25. Give him your note at 60 
 
 days, payable at College Bank, for 500. 00, and check on College Bank for balance. 
 Pay cash for permanent repairs and improvements on House No. 344 Plymouth Ave., 575.00 
 
 27. Receive cash for a note due to-day. 
 
&2 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 28. Sell Eedmond Bro's, 200 bbls. Flour, @ 9.25; 165 bbls. Pork, @ 16.25. Receive their note at 30 
 
 days, 2000.00. Balance on <^c. 
 Deposit cash in College Bank, 5000.00. 
 Clark & Co., who hold your note for 750.00, given them 2d inst., offer to discount 25.00 and the 
 
 accrued interest if you will pay it to-day. Accept their proposition and give them a check on 
 
 College Bank. 
 
 29. Your acceptance due to-day has been charged to your <^e at College Bank. 
 
 Sell the House and Lot No. 344 Plymouth Ave. to Jas. W. Fonda for 6500.00. In addition to this 
 price, he allows you for tlie permanent repairs and improvements paid for the 26th inst. , and 
 also .'^7.50 on the insurance paid 18th inst. He assumes in payment the mortgage of 2000.00 
 and accrued interest; gives you his check on Mechanics' Savings Bank for 2103.83, and a 
 mortgage upon the property for the balance. 
 
 Eeceive cash for a note due to-day. 
 31. Receive cash of J). B. Oliver, to balance afc, 3563.50. 
 
 Pay Salaries and Rent of Store in cash, 100.00. 
 
 Deposit cash in College Bank, 7000.00. 
 
 INVENTORIES, MARCH 31, 188-. 
 
 MDSE.— 150 bbls. Flour, @ 8.00; 140 bbls. Beef, @ 17.25. 
 
 EXPENSE. — Insurance unearned, 137.50; Office Safe, valued at 5 % below cost. 
 
 Balance the Cash Book. Cash on hand, 1790.66. Poat and make out a Balance Sheet. Net Gain 
 for the month, 1674.95. Close the Ledger and prove the balances as heretofore instructed. Present 
 your books and proof of the balances to the teacher before proceeding with the next set. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 81. — ' What is the distinguishing feature of Single Entry book-keeping? ' To what extent 
 is it necessary to record business transactions in Single Entry? ' What books are generally used? 
 *What additional books are sometimes employed? * In Single Entry, why can you not show in detail 
 your gains and losses? ' How do you determine your Net Gain or Net Loss? 'When will the results 
 exhibit a Net Loss? 
 
 Page 85. — 'What is the first step preparatory to changing books from Single to Double Entry? 
 'The second step? "" Why must the Present Worth be found before the Net Gain or Net Loss can be 
 determined? "What additional accounts is it necessary to open to change the Ledger to Double 
 Entry? " What is the final step to place the Ledger in balance? '* Why is the Ledger then in balance? 
 
 Miscellaneous. — From what sources do you get the information necessary to make out a statement 
 of the Resources and Liabilities? Could you find your Net Gain or Net Loss if you did not know what 
 you were worth at commencing? Could you find your present worth? If in making out the statement 
 preparatory to changing to Double Entry, a resource should be omitted, how would it affect the Net 
 Gain? What entry would be made in the Double Entry books to correct such an omission? 
 
SPECIAL COLUMN JOURNAL. 
 
 • Thi! Special Column Jonriuil is a Journal provided with special or separate columns for those 
 items which occur most frequently in the business. 
 
 ^ The advantage of using this form of Journal is in the saving of time and labor by not j)08ting to 
 the accounts the separate items which are carried to the special columns, ' tlie footings only of these 
 columns being posted daily, weekly or monthly, as desired. 
 
 *A11 items for which no special columns are provided are placed in the General or Sundries 
 column, and each item posted separately, as in the ordinary Journal form. 
 
 In the form illustrated on page 94 two special columns, Cash and Mdse. , are used on each side of 
 the Journal. 'The number of special columns is not limited, however. ° Any item which occurs 
 with sufficient frequencj', either upon the debit or credit side, to make it desirable, may have a special 
 column provided for it. In many kinds of business it is desirable to i)rovide a special column for 
 Expense upon the debit side of the Journal. 
 
 ' The columns are to be footed at the bottom of each page, and proved before being carried forward 
 to the next page. * Tlio sum of the three columns ujwn the debit side of the Journal must equal the 
 sum of the three uj)on the credit side. 
 
 ' In extending the amounts, particular care must be exercised, or crror,^ will be made by extending 
 amounts to the wrong columns. '""" The Ledger would not balance if a special column item were by 
 mistake placed in the Sundries column, or a Sundries column item in a special column, because in the 
 first case the amount would be omitted, and in the second case it would be posted twice. 
 
 The transactions for the preceding month of January arc iised in ilhistraling tliis method. 
 
 The books to be used are the Special Column Journal, Bill Book and Ledger. The form of the 
 Journal is illustrated on pages 94-98. 
 
 Perform the work from the memoranda, however, consulting the illustrations only wheii necessary. 
 
 The letters J., C. B. and B. B., together with the notes given in tlie memoranda, apply to the 
 Single Entry work, and are not to be observed in working this set. 
 
 93 
 
94 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
THEORKl'ICAL AND I'UACTICAL BOOK KEEPING. 
 
 95 
 
 ^ 
 
 s.^ 
 
 
 ^ 
 
 \ 
 
 ^ 
 
 ^ 
 
 1 
 
 
 ^ 
 
 n 
 
 
 
 \ 
 
 1 
 
 •l 
 
 
 ^ 
 ^ 
 
 •^ 
 
 
 
 
 S 
 
 N 
 
96 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPINa. 
 
 JANUARY 3, 188- 
 
 1079 
 
 65 
 
 50 
 
 690 38 
 
 246 
 
 137 
 
 1144 
 
 50 
 
 1073 
 
 75 
 
 3113 
 
 25 
 
 100 
 
 3285 
 
 01 
 
 )3 
 
 64 
 
 50 
 
 34 
 
 12 
 
 15 
 
 11 
 
 11 
 
 18 
 
 14 
 
 15 
 
 10 
 
 Jas. Jamieson, To Mdse. 
 
 27 Broadway. 
 
 25 lbs. A Sugar, 10c. , 2.50 
 
 4 " J. Tea, 80c., 3.20 
 
 2 " K. Coffee, 24c., .48 
 
 5. 
 
 Expense, To Cash, 
 
 Clerk's Salary. 
 
 Cash, To Mdse. 
 
 Sales per cash drawer. 
 
 6. 
 
 Mrs. E. Smith, To Mdse. ~ 
 
 10 lbs. B. Sugar, 10c. , 1 
 
 4i " Mackerel, 12c., .51 
 
 2 Wood Pails, 25c., .50 
 
 Cash, To Wm. Johnson, 
 
 Jas. Jamieson, 
 Rec'd on account. 
 
 7. 
 
 Mdse. To Bills Payable, 
 
 Bo't of H. Gordon &"Co., on 
 note as per B. B., Invoice 
 No. 4. 
 
 Mrs. E. Smith, To Mdse. 
 
 2 Wood Pails, 22c., .44 
 
 1 Broom, .25 
 
 1 lb. R. Coffee, .24 
 
 Cash, To Mdse. 
 
 Sales per cash drawer. 
 
 8. 
 
 Bills Receivable, To A. Thompson, 
 Rec'd note on ojc, per B. B. 
 
 Wm. Johnson, To Mdse. 
 
 50 lbs. B. Sugar, 9|c., 4.75 
 
 1 Broom, .25 
 5 lbs. R. Coffee, 24c., 1.20 
 
 2 Wood Pails, 22c., .44 
 
 Expense, To Cash, 
 
 Coal for office. 
 
 10. 
 
 Smith, P. & Co., To Cash, 
 Paid on oje. 
 
 16 
 
 14 
 
 4619 
 
 65 
 
 25 
 
 50 
 
 4717150 
 
 150 
 
 100 
 
 111 
 
 50 
 
 263 
 6 
 
 46 
 18 
 
 246 
 
 75 
 
 101 
 
 03 
 
 127 
 
 G4 
 
 i64 
 
 653 
 
 61 
 
THEOBETICAL AND PRACTICAL BOOK-KEEPING. 
 
 JANUARY 10, 188-. 
 
 97 
 
 1144 
 31 
 
 50 
 35 
 
 1073 77 
 
 96 
 
 31 
 
 35 
 
 35 
 
 35 
 
 358 
 
 1307 
 
 96 
 
 1482 
 
 50 
 
 SUNDRIES. 
 
 3365 34 
 
 40 
 
 67 
 
 75 
 
 50 
 
 10 
 
 150 
 
 35 
 
 35 
 
 3554 
 
 80 
 
 64 
 
 Mdse. To Geo. F. Doyle, 
 
 Bo't on "fc, per Inv. No. 5. 
 
 Mdse. To Win. Johnson. 
 
 4 U.S. K. Coffee returned, 34c. 
 
 11. 
 
 A. Tliompson, To Mdse. 
 
 Gash, 
 
 10 bbls. Salt, 1.40, 14. 
 
 3ch.J. Tea, 701bs.,70c., 49. 
 
 3 bbls. B. Sugar, 375 lbs., 
 
 10c. , 37.50 
 
 l?ec'd cash, 
 iialance on "fc. 
 
 25. 
 
 75.50 
 
 Expense, 
 Gash, 
 
 12. 
 To Gash, 
 jj 
 To Mrs. E. Smith, 
 
 Kec'd on "fc. 
 
 13 
 
 Smith, 1'. & Co., To Cash, 
 
 Bills Payable, 
 Paid on '^., cash, 50. 
 
 Note per B. B., 100. 
 
 Wni. Johnson, To Mdse. 
 
 10 lbs. A Sugar, lOc, 1. 
 
 2 " J. Tea, 85c., 1.70 
 
 5 " K. Coffee, 32c., 1.10 
 
 14. 
 
 Mdse. To Geo. F. Doyle, 
 
 Bo't on <yc, per Inv. No. 6. 
 
 Cash, To Bills Receivable, 
 
 Rec'd of A. Thompson, for his 
 note due to-day jier B. B. 
 
 Gash, To Mdse. 
 
 Sales ])er cash drawer. 
 
 15. 
 
 Geo. F. Doyle, To Cash, 
 Paid his siarht draft. 
 
 Expense, To Cash, 
 
 Paid Book-keeper's salary. 
 
 SUNDRIES. 
 
 4717 
 31 
 
 50 
 35 
 
 96 
 
 150 
 
 •100 
 
 31 
 
 35 
 
 111 
 
 50 
 
 4907 
 
 46 
 
 10 
 
 50 
 
 G53 
 
 61 
 
 25 
 
 25 
 
 KKI 
 
 50 
 
 !80 
 
 358 
 
 40 
 
 221 
 
 50 
 
 111631 
 
d8 
 
 THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 JANUARY 15, 188-. 
 
 MDSB. 
 
 CASH. 
 
 SUNDRIES. 
 
 L.F. 
 
 15 
 16 
 
 
 L.F. 
 
 15 
 16 
 
 SUNDRIES.! 
 
 1 
 
 CASH. 
 
 MDSE. 
 
 1207 
 
 96 
 
 1482 
 
 67 
 
 3554 
 119 
 
 3 
 
 300 
 
 64 
 50 
 
 75 
 
 Bills Receivable, To A. Thompson, 
 Rec'd his note per B. B. to bal- 
 ance "jc. 
 
 )) 
 
 Jas. Jamieson, To Mdse. 
 
 10 lbs. B. Sugar, 9^0., .95 
 2 " J. Tea, 80c., 1.60 
 5 " E. Coffe, 24c., 1.20 
 
 16. 
 
 Bills Payable, To Cash, 
 
 Paid note favor Smith, P. & 
 Co. 
 
 Cash, , 
 Mdse. 
 
 4907 
 119 
 
 46 
 50 
 
 221 
 300 
 
 50 
 
 1116 
 
 3 
 
 31 
 
 75 
 
 1207 
 
 96 
 
 1482 
 
 67 
 
 3977 
 1482 
 1207 
 
 89 
 67 
 96 
 
 5026 
 
 521 
 
 1120 
 
 96 
 50 
 06 
 
 521 
 
 50 
 
 1120 
 
 06 
 
 
 6668 
 
 52 
 
 6668 
 
 52 
 
 
 " You may now balance the Journal as illustrated above, and post the foregoing transactions. 
 " Post the totals only of Casli and Mdse. , as shown by the footings of tliose columns, the footings on 
 the left side to the debit and the footings on the right side to the credit of those accounts. {See Cash 
 account below.) All items in the Sundries columns are to be posted separately, as in the ordinary 
 Journal form. You may use the Ledger Folio (Ledger page) instead of v/ to check the posting in this 
 set. See L. F. column, page 96. The items in the Sundries columns only, require checking. 
 
 CASH. 
 
 188- 
 Jan. 
 
 16 
 
 Sundries, 
 
 3 
 
 1482 
 
 e,| 
 
 188- 
 Jan. 
 
 16 
 
 Sundries, 
 
 521 50 
 
 After you have finished posting, take a Trial Balance, and then continue the same form of Journal 
 through January. At the end of January balance your Journal, as illustrated above, post, make out a 
 Balance Sheet and close the Ledger. Your results should agree with those given at the bottom of 
 page 88, except the Net Gain, which should be 394. 08. 
 
 Present jour books, with a proof of the balances, to the teacher for inspection. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 93. — ' Describe the Special Column Journal. ' What is the advantage of its use? ' How is 
 this advantage scoured? * AVhat disposition is made of items for which no special columns are provided? 
 ' Is the number of special columns limited? * LTpon what does the opening of a special column for any 
 particular item depend? ' How frequently are the items to be footed and proved? * llow are they to 
 be proved? • What error is to be particularly guarded against? '" What would be the effect upon the 
 Ledger if a special column item were extended to the Sundries column? Why? " If a Sundries column 
 item were extended to a special column? Why? 
 
 Page 98. — " How is the Journal balanced? " How is the ])osting done? 
 
METHOD OF BOOK-KEEPING 
 
 ADAPTED TO THE KEQUIREMENTS OF THE 
 
 EXECUTOR OF A WILL. 
 
 The following set is designed to illustrate the closing up of the estate of a person deceased by the 
 Executor of the Will. The Student is su])posed to be the Executor, and will act as the personal 
 representative of the deceased. He will take possession of all property of whatever character, and, 
 after discharging all liabilities, will divide the remainder of the estate among the legal representatives 
 of the deceased, in accordance with the the terms of the Will. 
 
 The books to be used are the Journal and Ledger. 
 
 99 
 
100 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
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THEORETICAL AND PRACTICAL BOOK-KEEPING. 161' 
 
 APRIL, 188-. 
 
 1. You (Student) have been appointed Executor of the. Will of the late John H. Warner. The Will 
 
 provides that the widow of deceased, Eliza St. Clair Warner, shall have one-third of all 
 property belonging to the estate, and that the children, viz: John W., Mrs. Mary Warner 
 Roberts, William H., Jennie E. and George S., shall each receive one-fifth of the remainder 
 of such property. 
 
 A schedule of the real and personal estate of the deceased, made by yourself, assisted by Cornelius 
 Crittenden and Byron Rogers, as appraisers, exhibits as follows (ttee entry on paye 100) : 
 
 125 acres of land, including buildings, constituting the Homestead, @ 90.00 per acre; 80 acres of 
 land in Michigan, @ 15.00; 100 Sheep, @ 2.50; 4 AVork Horses, 100.00 each; 2 Yearling Colts, 
 40.00 each; 6 Cows, 30.00 each; 5 Hogs, 6.00 each; Poultry, estimated at 25.00; Harness, 
 estimated at 100.00; Machinery and Utensils, estimated at 450.00; Carriage, estimated at 
 100.00; Household Furniture, estimated at 600.00; Judgment against D. Gray, dated Jan. 
 16th last, 74.89; Interest accrued 75 days on above; 12 Water Works 6 ^ Bonds, 500.00 each 
 at par; Interest accrued on sante from Jan. 1 last, 3 months; Note of W. S. Dunn, at 90 days 
 from March 1 last, with interest, 1500.00; Interest accrued 31 days on above note; Note of 
 A. B. Enoch, at 90 days from Feb. 20 last, with interest, 225.00; Interest accrued 40 days on 
 above note; John Lynch owes on "je, 40.00; William Burke owes on "jc, 23.50; Cash on hand, 
 125.00; On deposit in Citizens' Savings Bank, 980.00; Interest accrued on above deposit from 
 Jan. 1 last, 3 months, at 5 ^ per annum. 
 
 2. You have ascertained that deceased was indebted to the following persons in the sums named: 
 
 James Bryant, on account of Blacksmithing, 43.50; A. B. Enoch, Store account, 79.80; 
 Patrick Maloy, on account of Ditching, 16.25. 
 
 3. Deposit in Germania Bank, cash, 125.00. 
 
 4. Sell this day, at auction, the following personal property: 100 Sheep, @ 2.85 per head, to John 
 
 Martin, on his note at 3 mos. with interest, endorsed by Byron Devins, payable at Germania 
 Bank; 2 Work Horses, 94.00 and 140.00, to Wm. Gray, on his note at 3 mos. with interest, 
 endorsed by John H. Blj', payable at Germania Bank; 2 Work Horses, 102.50 and 110.00, to 
 Jerome B. Stevenson for cash; 2 Yearling Colts, 34.00 and 48.00, to William Fenner, on his 
 note at 3 mos. with interest, endorsed by Calvin Davis, payable at Germania Bank; 2 Cows, 
 28.50 and 31.00, to Ira McCall for cash; 4 Cows, 34.00, 33.00, 29.75 and 41.00, to William 
 Chappell, on his note at 3 mos. with interest, endorsed by Thos. Eddy, payable at Germania 
 Bank; 5 Hogs, @ 4.50 each, to Samuel N. Messner for cash; Poultry, to Anson II. Wells for 
 cash, 24.00. 
 Harness, to Patrick Murphy, on his note at 3 mos. with interest, endorsed by M. B. Flynn, payable 
 at Germania Bank, for 88.00; Carriage, to Owen Storrs for cash, 98.00; Farming Utensils, 
 bought by John W. Warner and charged to his account, 415.00; Household Furniture, bought 
 by the widow of deceased and charged to her account, 588.50. 
 
 5. Deposit in Germania Bank, cash, 410.50. 
 
 6. Pay Jas. Bryant and P. Maloy in full of account, by check on Germania Bank. 
 
 9. A. B. Enoch pays his note and interest to date in cash, after deducting the amount due him on "jc. 
 10. Pay Probate Judge's fee, 50.00, and Auctioneer's bill, 15.00, by check on Germania Bank. 
 Patrick Murphy offers to pay his note at its face, which offer you accept. 
 
 16. Sell the Water AVorks Bonds to D. W. Powers for cash at par, with accrued interest added. 
 Deposit in Germania Bank, cash, 6340.00. 
 
 17. Collect amounts due from John Lynch and Wm. Burke, in cash. 
 
 18. Wm. H. Warner desiring to purchase the 80 acres of Michigan land at the appraised valuation, it 
 
 has been deeded to him and charged to his account. 
 
 19. Have the following interest bearing notes discounted at Germania Bank, at 8 ^ discount, and have 
 
 the proceeds credited: John Martin's note, 285.00; Wm. Gray's note, 234.00; Wm. Fenner's 
 note, 82.00; Wm. Chappell's note, 137.75. 
 
 Note. — Get the interest on the face of the notes from their date to maturitj"^ at 6 per cent., and tlien discount the 
 amount at 8 per cent, for tlie time the notes have yet to run, 2 mo. 18 days. 
 
 20. Mrs. Mary Warner Roberts takes the note of Wm. S. Dunn at its face, with accrued interest, to 
 
 apply upon her share in the estate. 
 Draw amount on deposit in Citizens' Savings Bank, and deposit it, together with the accrued 
 interest, in Germania Bank. 
 
102 THEOEETICAL AND PRACTICAL BOOK-KEEPrSrO. 
 
 * . 
 
 21. Pay Jennie E. Warner cash, 50.00. 
 
 23. John W. AVarner has determined to purchase the homestead farm at the appraised valuation. You 
 
 will charge it to his account. Papers are to be executed on the 29th inst. 
 2G. Messrs. Rowley & Johnston, attorneys, have returned the amount collected on the judgment 
 
 against D. Gray, 74.89, and interest to date, less their charge for collection, 10.00, and 
 
 Sheriff's fees, 5. 75. Receive balance in cash. 
 
 27. Deposit in Germania Bank, cash, 73.89. 
 
 Note. — You may now post and take a Trial Balance (not Balance Sheet), after which close the accounts showing 
 losses and gains directly into the Warner Estate account. 
 
 28. Appropriate, by check on Germania Bank, your fee as Executor of the Will, as provided by law, 
 
 viz: 5 ^ on the first 1000.00, 2^ ^ on the next 9000.00, and 1 ^ on the balance of the net credit 
 to the estate, 23,798.98, [not counting the liabilities or expenses.] {Debit Warner Estate for 
 she fees. ) J 
 
 Noi-B. — Post the above entry and each entry hereafter as soon as it is journalized. 
 
 Having ascertained the present worth of the estate, as shown by the difference in the Warner 
 Estate account, debit the Estate and credit Mrs. Eliza S. Warner her one-third, 7721.89, 
 and the children, John W. Warner, Mrs. Mary Warner Roberts, Wm. H. Warner, Jennie E. 
 Warner and Geo. S. Warner, each one-fifth of the remainder, as provided by the Will. 
 
 29. John W. Warner has this day executed a mortgage on the homestead farm for the balance due 
 
 Mrs. Eliza S. Warner from the estate. 
 John W. Warner has executed a second mortgage on the homestead to Jennie B. Warner, for the 
 balance due from him to the estate. 
 
 30. Give Mrs. Roberts, Wm. H. Warner, Jennie E. Warner and George S. Warner checks on Germania 
 
 Bank, for amounts due them. 
 
 NoTB. — All of the accounts in your Ledger should now balance. 
 
 QUESTIONS FOR REVIEW. 
 
 What does the foregoing set illustrate? How is an Executor appointed? What are his duties? 
 How are his fees computed? How is the amount found upon which they are computed? Why will 
 every account balance at the close ? 
 
PETTY LEDGER. 
 
 ' The following set is designed to illustrate a method of book-keeping by which all fratisient 
 accounts may be kept without opening them in the principal Ledger. 
 
 'An auxiliary Ledger, called the Petty Ledger, is employed, in which all accounts are opened that 
 are not likely to be permanent, actiye accounts; and in the principal or main Ledger an account called 
 Petty Accounts is opened, to represent these transient accounts and to keep the main Ledger in 
 balance. 
 
 ' This method saves space in, and facilitates taking a trial balance of, the main Ledger. 
 
 The books to be used are the Journal, Bill Book, Petty Ledger and Main Ledger. 
 
 10.3 
 
104 
 
 THEOliKTICAL AND PRACTICAL BOoKliKEPlNG. 
 
 MAY 1, 188-. 
 
 Commenced the Book and Stationery business, with the 
 following Eesources: 
 
 Cash, 
 
 Expense, 
 E. W. Hoag, 
 
 To Student, 
 
 Mdse. 
 
 To Fletcher & Co. 
 
 11. C. Sidway, 
 To Mdse. 
 
 Petty Accounts, 
 To Mdse. 
 
 Cash, 
 
 To E. W. Hoag, 
 
 Bills Keceivable, 
 To Mdse. 
 
 Cash, 
 To P. A. 
 
 Cash, 
 To Mdse. 
 
 Fletcher & Co. 
 To Bills Payable, 
 
 P. A. 
 
 To Mdse. 
 
 Mdse. 
 
 To Barnes & Co. 
 
 Atkinson & Boyd, 
 To Mdse. 
 
 Cash, 
 
 To R. C. Sidway, 
 
 City Bank, 
 To Cash, 
 
 Fletcher & Co. 
 To City Bank, 
 
 (Jash, 
 
 To Mdse. 
 
 On hand. 
 
 Furniture and Fixtures, 
 Owes on account. 
 Investment as above. 
 
 Bought on account, per Invoice, 
 No. 1, on file, 
 
 3 doz. Rob. Arithmetics, 10.00-20.00, 
 li doz. K. Grammars, 9.00-13.50, 
 
 3. 
 Sold G. W. Getman, on <^c, per P. T.. 
 
 To apply on account, 
 
 5. 
 Sold Brown, per B. B., . 
 20 H. S. Dictionaries, 2.25, 
 
 Rec'd of G. W. Getman, on acct., 
 
 6. 
 Sales, per Ciish Drawer, 
 
 7. 
 Gave them note to apply on account, 
 per B. B., 
 
 Sold Marsh & Grant, on account, 
 per P. L., 
 
 9. 
 Bought on account, as per Invoice 
 No. 2, 
 
 10. 
 10 reams Foolscap, 2.35-25.50, 
 35 M. Buflf Envelopes, 1.00-40.00, 
 
 To apply on account, 
 
 11. 
 Deposited, 
 
 12. 
 Check to apply on account, 
 
 13. 
 Cash Sales for tlic day, 
 
 Forward, 
 
 CASH 
 RECEIPTS. 
 
 1000 
 
 100 
 
 BUNDKIES 
 DR. 
 
 SUNDRIES 
 
 CR. i 
 
 MDSE. 
 SALES. 
 
 200 
 
 350 
 
 1550 
 
 28 
 
 648 
 
 33 
 
 80 
 
 50 
 
 648 
 
 80 
 
 ;40 
 
 100 
 
 45 
 
 12 
 
 15 
 
 36 
 
 1184 
 
 04 
 
 175 
 
 175 
 
 24 
 
 75 
 
 520 
 
 62 
 
 25 
 
 50 
 
 536 
 
 25 
 
 500 
 
 350 
 
 15 
 
 500 
 
 350 
 
 33 
 
 50 
 
 140 
 
 45 
 
 28 
 
 13 
 
 24 
 
 75 
 
 63 
 
 50 
 
 16 
 
 3924 
 
 30 
 
 3870 
 
 05 
 
 36 
 
 338 
 
 04 
 
 31 
 
•rHEOKETIOAL AND I'KACTlOAL IJOOK-KJiKl'lNG. lOo 
 
 MAY, 188-. 
 
 Note. — * The form of Journal illustrated on page 104, you will observe, is provided with additional columns, in 
 which the sales of Mdse. and the receipts of Cash only are to be entered, the object being to facilitate posting. The 
 footings of these columns are to be carried forward from page to page until the end of the month, and the totals then 
 posted to their respective accounts. Post the footing of tlie Cash Receipts column to the debit of Cash account, and 
 the footing of the Mdse. Sales column to the credit of Mdse. account. Rule the additional columns in your Journal, if 
 they are lacking. 
 
 1. Commence the Book and Stationery business with the following Resources : Cash on hand, 
 
 1000.00; Furniture and Fixtures, valued at 200.00; E. W. Hoag, City (M. L.), owes on % 
 350.00. 
 
 Note. — Accounts which are to be opened in the Petty Ledger will be indicated in tlie memoranda by the letters 
 P. L., and those to be opened in the Main Ledger by the letters M. L. 
 
 2. Receive from Fletcher & Co., New York {M. L.), a bill of Mdse. bought on "{c, as \wi- Invoice No. 
 
 1, 648.80. 
 Sell R. C. Sidway, Lakeville (if. L.), 2 doz. Robinson Arithmetic, @ 10.00 doz. ; U doz. Kerl's 
 Grammar, @ 9.00. 
 
 3. Sell G. W. Getman, City {P. L.), 6 R. Arithmetic, @ 90c.; 3 Civil Government, @ 1.00. {J. ana 
 
 P.L.) 
 
 Note. — Open an account with Qetman in the Petty Ledger before making the journal entry. See form on page 106. 
 As a matter of convenience the items are entered in the Petty Ledger and omitted from the Journal. 
 
 4. Receive cash of E. W. Hoag on "jc, 100.00. 
 
 5. Sell R. D. Brown, on his note at 10 days, 20 High School Dictionary, @ 2.25. 
 Receive cash of G. W. Getman, to apply on "jc, 5.00. {J., and P. L.) 
 
 6. Cash sales, as per Cash Drawer, 28.12. 
 
 1. Give Fletcher & Co. your note at 15 days, to apply on "jc, 175.00. 
 
 Sell Marsh & Grant, Fairport {P. L.), 10 R. Arithmetic, @ 90c.; 10 K. Grammar, @ 75c.; 3 
 Knight's Commercial Law, @ 2.75. 
 
 Note. — Make the entry first in the P. L. Give eacli account in the Petty Ledger onefourtli of a page space. 
 
 9. Receive of Barnes & Co., Boston [M. L.), a bill of Mdse. bought on "/;, as per Invoice No. 2, 
 526.25. 
 
 10. Sell Atkinson & Boyd, Eastport {M. L.), 10 reams Foolscap, @ 2.25; 25 M. Bufi Envelopes, @ 1.60. 
 Receive cash of R. C. Sidway on <yc, 15.00. 
 
 11. Open an account at City Bank and deposit cash, 500.00. 
 
 12. Give Fletcher & Co. your check on City Bank, to apply on "je, 350.00. 
 
 13. Cash sales of Mdse., as per Cash Drawer, 36.04. 
 
 15. Give Barnes & Co. your check on City Bank, to apply on cjc, 100.00. 
 
 17. Receive cash of Marsh & Grant, to apply on "fc, 10.00. 
 
 Sell R. C. Sidway, 15 Civ. Gov., @ 1.00; 10 H. S. Dictionary, @ 2.25; 25 gro. D. Pencils, @ 1.75. 
 
 18. Receive cash for a note due to-day. 
 
 20. Accept Fletcher & Co.'s draft on you at 10 days, to apply on "fc, 50.00. 
 
 21. Sell L. Ayrault, Nunda (P. L.), 20 reams Foolscap, @ 2.25; 25 M. White Envelopes, @ 1.75. 
 
 22. Buy for cash a draft of 200. 00 on Ninth National Bank, Boston, at ^ ^ exchange. Remit the 
 
 draft to Barnes & Co., to apply on "jc. 
 
 23. Receive of Atkinson & Boyd, to apply on "jc, their draft at 1 day's sight on Marcus Greenfield, 
 
 which Greenfield has accepted, 35.00. 
 
 24. Sell L. & G. Freeman, City (P. L.), 25 M. B. Envelopes, @ 1.60; 10 reams Foolscap, @ 2.25. 
 
 25. Pay your note due to-day in cash. 
 
 36. Draw a draft at sight on L. Ayrault, Nunda, to apply on "fc, 50.00, and deposit the draft in City 
 Bank to your credit, less cost of collection, 25c. (J. and P. L. ) 
 Buy of Walker, Clinch & Co., City {M. L.), Mdse. as per Invoice No. 3, 462.38. Give them your 
 check on City Bank, 62.38. Balance on "jc. 
 
 27. Receive cash for an acceptance due to-day. 
 
 28. Sell Atkinson & Boyd, 10 K. Commercial Law, @ 2.75; 20 R. Arithmetic, @ ItOc. ; 15 H. S. 
 
 Dictionary, @ 2.25. Receive in payment, their note at 15 days, 50.00. Balance on ojc. 
 
 29. Receive cash of Marsh & Grant, to balance "jc. 
 
 30. Deposit in City Bank, cash, 300.00. 
 
 Sell J. J. Sidway, Canton {P. L.), 40 gro. Steel Pens, @ 1.45; 25 gro. D. Pencils, @ 1.75. 
 
 31. Credit D. W. Clark, Book-keeper (P. L.), his salary for the month, 50.00. 
 
106 
 
 »rafiOftEtlCAL AND PRACTICAL BOOKKEEPmG. 
 
 FORM OF PETTY LEDGER ACCOUNTS. 
 G. W. GETMAN, City. 
 
 188- 
 
 
 
 
 
 z:^ 
 
 
 188- 
 
 1 
 [ 
 
 
 
 
 May 
 
 3 
 
 C Rob. Arith., 
 3 Civ. Gov't, 
 
 90c. 
 1.00 
 
 
 5 
 3 
 
 s 
 
 40 
 
 40 
 
 May 
 
 5 
 
 Cash, 
 
 
 5 
 
 
 MARSH & GRANT, Fairport. 
 
 188- 
 May 
 
 10 Rob. Arith., 90c. 
 
 10 K. Grammar, 75c. 
 
 3 K. Com'l Law, 2.75 
 
 
 
 
 188- 
 
 
 
 9 
 
 
 May 
 
 17 
 
 
 7 
 
 50 
 
 
 29 
 
 
 8 
 
 25 
 
 
 
 24 
 
 75 
 
 
 
 
 
 
 Cash, 
 
 L AYRAULT, Nunda. 
 
 L & G. FREEMAN, City. 
 
 10 
 14 
 
 24 
 
 75 
 
 75 
 
 188- 
 
 f 
 
 1 
 
 
 188-1 
 
 
 
 
 
 May 
 
 21 ; 20 rms. Foolscap, 
 25M.W. Env., 
 
 2.25 
 1.75 
 
 
 45 
 43 
 
 • s 
 
 May 
 
 75 
 
 75 
 
 27 
 
 Draft, 
 
 
 50 
 
 
 188- 
 May 
 
 24 
 
 20 M. B. Env., 
 10 rms. Foolscap, 
 
 1.60 
 
 
 40 
 
 
 
 
 2.25 
 
 
 22 
 
 6 2 
 
 50 
 
 50 
 
 
 
 INVENTORIES, MAY 31, 188-. 
 
 MERCHANDISE.— Per Inventory Book, 1203 88 
 
 EXPENSE.— Furniture and Fixtures, 200 00 
 
 You may now rule and foot tlie Journal and post the month's business, giving each account one- 
 fourth of a page space, except Petty Accounts, which will require one-half of a i)age. Post the footing 
 only of the Cash Receipts column to the debit of Cash account, and the footing of the Mdse. Sales 
 column to the credit of Mdse. account, and omit the debit items of Cash and the credit items of Mdse. 
 in posting from the Journal. 
 
 After you have completed the posting, prove first the Petty Ledger, as explained and illustrated 
 below. 
 
 The Petty Ledger does not balance, but may be proved as follows: ' Find the difference between 
 the sides of the Petty Ledger, and compare it with the difference between the sides of the account 
 with Petty Accounts, in the Main Ledger; the two differences should agree. 
 
 • The reason of this is obvious, since for every entry made in the Petty Ledger a corresponding 
 amount was entered to the same side of the account with Petty Accounts in the Main Ledger. 
 
 PETTY LEDGER, MAY 31, 188-. 
 
 G. W. Getman, 
 L. Ayrault, 
 L. & G. Freeman, 
 J. J. Sidway, - 
 D. W. Clark, 
 
 8 
 
 40 
 
 5 
 
 88 
 
 75 
 
 50 
 
 62 
 
 50 
 
 
 101 
 
 75 
 
 50 
 
 261 
 
 40 
 
 105 
 
 
 
 PROOF. 
 
 Petty Account,s, Dr. 286 15 
 
 Cr. 129 75 
 
 Balance, 156 40 
 
 Petty Ledger, Dr ----- 261 40 
 
 " " Cr. -.- 105 00 
 
 Balance,.- 156 40 
 
THEORETICAL AND PRACTICAL BOOK-KEfiPfKO. 107 
 
 After jiroving the Petty Ledger, make out a Balance Sheet from the Main Ledger, and close the 
 accounts showing losses and gains, preparatory to takmg a partner June 1st. Tlie results sliown by 
 your Balance Sheet should be as follows: 
 
 Total Resources, 2467 56 
 
 " -Liabilities, 750 05 
 
 SUMMARY, MAY 31, 188-. 
 
 Total Gains, 218 26 
 
 " Losses, 50 75 
 
 Present Worth, _._ 1717 51 
 
 Net Gain, 167 51 
 
 JUNE, 188-. 
 
 1. Admit F. E. Craigie as a partner, with a cash investnient equal to your present worth. 
 
 2. Sell Baker Bro's, Eidgeway (P. L.) 5 Eob. Arithmetic, @ 90c.; 10 K. Grammar, @ 75c.; 5 reams 
 
 Foolscap, @ 2.25. 
 Deposit in City Bank, cash, 1500.00. 
 Pay your acceptance due to-day in cash. 
 
 3. Receive R. C. Sidway's clieck on Farmers' Bank, Lakeville, to balance his "fc. 
 
 4. Sell W. & E. Palmer, Havana {P. L.), 25 M. White Envelopes, @ 1.75; 25 Civ. Government, @ 
 
 1.00; 20 gro. D. Pencils, @ 1.75. 
 Deposit Sidway's check rec'd 3d inst. in City Bank, less collection, 25c. 
 
 5. Receive cash of L. & G. Freeman in full of 'yc. 
 
 6. Pay D. W. Clark, Book-keeper, cash to apply on last month's salary, 25.00. 
 Note. — Debit Petty Accounts instead of Expense. Sec entry May 31. 
 
 7. Sell G. W. Getman, 20 M. Buff Envelopes, @ 1.60; 15 H. S. Dictionary, @ 2.25; 10 Com. Law, 
 
 @ 2.75. 
 
 8. Receive from Fletcher & Co., New York, a bill of Mdse. bought on <yc per Inv. No. 4, 268.60. 
 
 9. Cash sales, per Cash Drawer, 52.94. 
 
 10. The draft drawn on L. Ayrault, May 26, has been returned unpaid. Protest fees, 1.25. Give 
 
 City Bank your check to take up the draft, 51.25. 
 Note.— Charge the fees to Ayrault, it having been agreed that you should draw upon liim at tliat time. 
 
 11. Receive cash of E. W. Hoag on % 150.00. 
 
 Give Walker, Clincli & Co., your note at 10 days, payable at City Bank, to apply on <^, 200.00. 
 
 13. Sell R. C. Sidwuy, 500 gro. Crayon, @ lie; 50 reams Letter Paper, @ 2.10. 
 Deposit cash in City Bank, 250.00. 
 
 14. Receive cash of G. W. Getman on a(., 25.00. 
 
 Sell R. W. Howard, Bluff Point {P. L.), 10 Com. Law, @ 2.75; 15 M. Buff Envelopes, @ 1.60; 
 12 K. Grammar, @ 75c. 
 
 15. Receive cash for a note due to-day. 
 Cash sales, per Cash Drawer, 21.50. 
 
 16. Sell G. W. Getman, 10 reams Letter Paper, @ 2.10; 200 gro. Crayon, @ lie. 
 
 Buy of Walker, Clinch & Co., Mdse. per Invoice No. 5, 689.32. Give them in payment, check on 
 City Bank, 289.32: your note at 60 days for balance, payable at City Bank. 
 
 17. Receive from Baker Bro's, a Postal Money Order, to apply on "/c, 10.00. 
 
 18. Buy at City Bank, by check, a draft on the Ninth National Bank of Boston, 226.25, at i ^ 
 
 exchange, and remit the draft to Barnes & Co., to balance °/c. 
 
 19. Transfer G. W. Getman's account to the Main Ledger, it having jjroyed to be a permanent and 
 
 active account. 
 
 Note.—' Close the account in the P. L. Say, on the credit side, Bal. to M. L. Then malie an entry in tlie Journal : 
 G. W. Getman, To Petty Accounts. 
 
 20. Receive of Atkinson & Boyd, their note at 45 days, to balance "fc, 56. 75. 
 Buy of Stein & Co., City (/". L.), one Show Case for Store, 35.00. 
 
 21. Receive from W. & E. Palmer, to apply on "fc, their sight draft for 50.00 on Farley & Ferguson, 
 
 which F. & F. pay by tlieir check on Commercial Bank. 
 Sell Findley & Morris, Groveland {P. L.), 5 gro. Steel Pens, @ 1.45; 10 R. Arithmetic, @ 90c. 
 
 22. Student draws cash for private use, 50. 00. 
 
108 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 22. 
 23. 
 24. 
 
 25. 
 
 26. 
 27. 
 28. 
 29. 
 30. 
 
 Sell Atkinson & Boyd, 25 K. Com. Law, @ 2.75. 
 
 Receive cash of L. Ayrault to balance «ifc, 90.00. 
 
 Your note due to-day at City Bank has been charged to your account. 
 
 D. W. Clark draws balance of last month's salary in cash, 25.00. 
 
 Receive from Barnes & Co., a bill of Mdse bought on ojc, per Invoice No. 6, 822.48. 
 
 Sell Alfred Carter, Newport (P. L.), 20 reams Letter Paper, @ 2.10; 25 M. White Envelopes, 
 
 1.75. Receive in payment, cash, 45.00. Balance on "jc. 
 Receive cash of J. J. Sid way on <5fc, 58.00. 
 
 Sell Frank Siddons, City {P. L.), 1 Com. Law, 3.00; 1 R. Arithmetic, 1.00. 
 Pay Fletcher & Co.'s sight draft on you by check ou City Bank, 73.80. 
 Sell G. W. Uetman {M. L.), 25 Civ. Government, @ 1.00; 10 Com. Law, @ 3.75. 
 F. E. Craigie draws for private use, by check on City Bank, 50.00. 
 Give D. W. Clark credit for his month's 'salary, 50.00. 
 
 INVENTORIES, JUNE 30, 188-. 
 
 MERCHANDISE.— Per Inventory Book, 2453 38 
 
 EXPENSE,— Furniture and Fixtures, 235 GO 
 
 Rule and foot the Journal and post the month's business. Remember that the footings only of 
 the Cash Receipts and Mdse. Sales columns need be 2)osted. After you have completed the lasting, 
 prove the Potty Ledger, as instructed for last month. The accounts in the Petty Ledger need not be 
 closed. Make out a Balance Sheet and close the accounts in the Main Ledger. 
 
 Net Gain for the month, ' 202 72 
 
 Balance of Petty Accounts, 147 25 
 
 * Another method of keejiing transient accounts is to open in the Main Ledger an account called 
 " Miscellaneous Accounts," or some other appropriate title, under which all accounts not likely to be 
 permanent, active accounts may be placed, instead of keeping them in a Petty Ledger, as illustrated 
 below. 
 
 MISCELLANEOUS ACCOUNTS. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 Mav 
 
 3 
 
 G. W. Getman, 
 
 
 8 
 
 40 
 
 May 
 
 5 
 
 
 7 
 
 Marsh & Grant, 
 
 
 24 
 
 75 
 
 a 
 
 17 
 
 
 21 
 
 L. Avrault, 
 
 
 88 
 
 75 
 
 ({ 
 
 27 
 
 
 24 
 
 L. & G. Freeman, 
 
 
 62 
 
 50 
 
 
 
 
 27 
 
 L. Ayrault, Bal. 
 
 
 38 
 
 75 
 
 
 
 
 30 
 
 J. J. Sidway, 
 
 
 101 
 
 75 
 
 June 
 
 26 
 
 Cash, ,5. 
 
 Cash. 10; May 29, 14.75 
 
 Draft, 50; Bal. 38.75 
 
 Cash, 
 
 24 
 
 88 
 
 58 
 
 75 
 75 
 
 • You will observe by the above form that the space occupied by each account is one line only. 
 '° When an account is settled, the credit is entered on the line directly opposite the debit, thus showing 
 the account balanced. " When an account is not paid in full at one payment, the account may be 
 closed and the balance unpaid transferred to a new line, or the payments may be short extended, as 
 shown above. It is sometimes desirable to keep "Misc. Accounts Receivable" and " Misc. Accounts 
 Payable." 
 
 Hand to the teacher, on a slip of paper, a proof of the balances brought down in closing the 
 Ledger; also present your books for inspection. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 103. — ' AVhat docs the Petty Ledger set illustrate? 'Describe the method. 'What are the 
 advantages to bo derived from its use? 
 
 Page 105. — ' What advantage is derived in this set from using an additional column for Mdse. sales? 
 
 Page 106. — ' How is the Petty Ledger proved? ' Explain the reason for it. 
 
 Pago 107. — ' What entry is made to transfer an account from the Petty Ledger to the Main Ledger.'' 
 
 Page 108. — 'What other form may be used for keeping transient accounts to save space in the 
 Main Ledger? " By this form, how much space does each transient account occupy? '° When an account 
 is settled, where is the credit entry made? " If an account is not paid in full at one payment, how is 
 the entry made? 
 
CASH METHOD. 
 
 ' The method illustrated in tlio following set combines tlie Day Book, Journal and Cash Book in 
 one book, called tlie Cash Journal, or simply Journal, in which book all entries are to be made, whether 
 cash forms any part of the transaction or not. 
 
 ' This form of book-keeping is best adapted to a business in which the transactions are mainly for 
 cash. 
 
 " The principal advantages of the method are, that it employs a less number of books, and saves 
 time and labor in posting cash. 
 
 RULES FOR CASH METHOD. 
 
 Decide what the journal entry would be for the transaction in the ordinary form, then: 
 First. — * If Cash be tlie only debit, enter all of the credit items on the left side, which debits 
 Cash. 
 
 Second. — *lf Cash be the only credit, enter all of the debit items on the right side, which credits 
 Cash. 
 
 Third. — "If the entry consists of several debits and credits, one of whicli is Cash, leaving out the 
 Cash, enter all the debits (m the right side, which credits Cash, and enter all the credits on tlie left 
 side, which debits Cash. The difEerenco will show the cash received or paid out. 
 
 Fourth. — ' If no Cash is involved in the transaction, enter the credits on the left side and the 
 debits on the right side. The footings of the two sides will thus be increased ecjually, and the balance 
 of cash will remain unchanged. 
 
 The books to be used in this set are the Cash Journal and Ledger. 
 
 109 
 
110 
 
 THEORETICAL AND PUACTICAL JiOOK-KEEPING. 
 
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THEORETICAL AND PitACTICAL BOOKKEEPING. 
 
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112 
 
 THEOKETICAL AND PRACTICAL BOOK- KEEPING. 
 
 MONDAY, JULY 5, 188-. 
 
 Student and E. A. Wooden form a copartncrsliip to engage in business as private Bankers and 
 Brokers, in accordance witli cojjartnership articles executed this day. The gains and losses are to b« 
 shared in jiroportion to the investment. • 
 
 Student invests cash, 30,000. 
 
 Make the entry on the left side of the Journal, which credits Student and debits Cash. See form on page 110. 
 
 E. A. Wooden invests cash, 30,000. {Same as previous entry.) 
 
 Remit by express, to Bank of Commerce, New York, for your credit, cash, 15,000. 
 
 Make the entry on the Hght side of the Journal, wliich debits Bank of Commerce and credits Cash. 
 
 Receive cash of H. E. Sankey on deposit, 2000. 
 
 Make the entry on the Uft side, which credits Sankey and debits Cash. 
 
 Remit by express, to Merchants' Bank, Boston, for your credit, cash, 10,000. 
 Entry on rigU side of Journal. 
 
 Pay H. E. Sankey's check on you in cash, 500. 
 Entry on right side, which debits Sankey and Credits Cash. 
 Receive cash of J. W. Gardner on deposit, 3000.00. 
 
 Discount for C. G. Teall a note made by R. N. Smith, 3500.00. Discount, 9.60. Pay him the 
 proceeds in cash, 2490.40. 
 
 Enter Bills Receivable, 2500, on the right side of the Journal, which debits Bills Receivable and credits Cash 2500. 
 Then enter Discount, 9.60, on the left side, which credits Discount and debits Cash 9.60. Cash having been thus credited 
 2500 and debited 9.60, the net credit to Cash is 2490.40, as shown by the difference, the actual amount of cash paid out. 
 
 Pay J. W. Gardner's check on you in cash, 300.00. 
 
 Pay express charges on remittances to New York and Boston in cash, 3.50. 
 
 The Journal is now to be balanced for the day, as shown on pages 110-111. ' It will be apparent 
 that the footings of the Journal cannot exhibit the actual amount of cash received and disbursed, since 
 in many of the entries a part' only is cash, and in others no cash whatever is involved. 
 
 ' The footing of the left side of the Journal represents the total credits of the business, except the 
 credit of cash; "the footing of the right side the total debits of the business, except the debit of cash; 
 " the difference between these footings must therefore exliibit the excess of cash received or paid out 
 during the day. " The balance for the previous day being added to the footing of the left side of the 
 Journal, the difference between the sides will then show the cash on hand. 
 
 After balancing the Journal, post the day's business. Give each account one-fourth of a page 
 space. " In posting, credit all of the items upon the left side, and debit cash with the total of these 
 items. The debit and credit sides of the Ledger are thus kept equal. Debit all of the items upon 
 the right side, and credit Cash with the total of these items. Here again equal debits and credits are 
 posted to the Ledger. , 
 
 You may omit the explanations from the Ledger in posting this set. The work of Monday and 
 Tuesday is posted in full below. 
 
 STUDENT. 
 
 
 
 
 188- 
 July 
 
 5 
 
 110 
 
 20000 
 
 E. A. WOODEN. 
 
 188- 
 July 
 
 111 
 
 500 
 
 
 II 188- 
 
 5 
 
 110 
 
 30000 
 
 
 
 
 
 H. 
 
 E. SANKEY. 
 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 Julv 
 
 6 
 
 
 111 
 
 500 
 
 
 July 
 
 
 
 
 
 6 
 
 
 111 
 
 356 
 
 45 
 
 
 6 
 
 
 110 
 110 
 
 3000 
 994 
 
 35 
 
THEORETICAL AND PKAOTIOAL BOOK-KEEPING. 
 
 J. W. GARDNER. 
 
 113 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 ~ ' 
 
 July 
 
 5 
 
 
 111 
 
 300 
 
 
 July 
 
 5 
 6 
 
 - 
 
 iiol 
 
 110 
 
 3000 
 600 
 
 
 DISCOUNT. 
 
 
 
 
 
 f 
 
 188- 
 
 
 
 
 1 
 
 
 
 
 
 
 July 
 
 5 
 6 
 
 
 110 
 110 
 
 9 
 5 
 
 60 
 
 75 
 
 CASH. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Jiily 
 
 5 
 
 
 110 
 
 55009 
 
 60 
 
 July 
 
 5 
 
 
 111 
 
 28302 
 
 50 
 
 
 6 
 
 
 110 
 
 13955 
 
 
 
 6 
 
 
 111 
 
 9106 
 
 45 
 
 BANK OF COMMERCE, 
 
 188- 
 July 
 
 111 
 
 15000 
 
 
 188- 
 July 
 
 6 
 
 110 
 
 2000 
 
 MERCHANTS' BANK. 
 
 188- 
 Jnly 
 
 111 
 
 10000 
 
 188- 
 July 
 
 110 
 
 6250 
 
 BILLS RECEIVABLE. 
 
 188- 
 July 
 
 111 
 111 
 
 2500 
 2000 
 
 
 
 
 EXPENSE. 
 
 188- 
 July 
 
 111 
 
 50 
 
 EXCHANGE. 
 
 
 
 
 188- 
 Jiily 
 
 6 
 
 110 
 
 BILLS PAYABLE. 
 
 I 188- 
 
 110 500 
 
 N. Y. C. & H. R. R. R, STOCK. 
 
 188- 
 July 
 
 111 
 
 6250 
 
 188- 
 July 
 
 110 
 
 2600 
 
114 
 
 THEORETICAL AND PRACTICAL BOOK KEEPING^ 
 
 TUESDAY, JULY 6, 188-. 
 Pay H. E. Sankey's check in cash, 356.45. 
 
 Sell M. r. Eoynolds your sight draft on Bank of Commerce, 2000, at i^ exchange, 5.00. Eeceive 
 cash, 2005.00. 
 
 Credit Bank of Commerce and Exchange on tlie left side of the Journal, whicli debits Cash. 
 
 Buy of Cook & Co., 50 shares N. Y. C. & H. K. E. R. Stock, @ 125.00 per share. Pay for same 
 by check on Merchants' Bank. 
 
 Dcl)it K. Y. C. & H. R. R. R. Stock on the right side of the Journal, which credits Cash. Credit Merchants' Bank 
 on the left side, which debits Cash. The amount of 0250 having thus been entered on each side of the Journal, the 
 balance of Cash remains unchanged by this entry. 
 
 Receive cash of J. W. Gardner on deposit, 600.00. 
 
 Discount, for H. E. Sankey, Benj. W. Craig's acceptance, 2000.00. Discount off, 5.75. Pay him 
 cash, 1000.00, and place the balance to his credit. {See Rule Third, on paije 109.) 
 
 Accept 11. Sibley's draft on E. A. Wooden, for private <^c, 500.00. {See liule Fourth, page 109.) 
 Sell 20 shares K Y. C. & II. R. R. R. Stock, @ 130.00 per share, and receive cash. 
 
 You may now balance the Journal and post the day's work, as instructed for yesterday. " You 
 will observe that the cash on hand for Monday is carried to the second column of the Journal in 
 bringing the balance down on Tuesday, "so as to avoid including it in the footing of the items of 
 Tuesday's business; otherwise Cash account would be again debited for the net receipts of the previous 
 day. 
 
 WEDNESDAY, JULY 7, 188-. 
 
 Remit cash to Bank of Commerce, New York, by express, 10,000. {Rule Second, page 109.) 
 
 Receive cash of H. E. Sankey, on deposit, 375.00. {Rule First, page 109.) 
 
 Pay J. W. Gardner's check in cash, 76.25. {Rule Second, page 109.) 
 
 Sell 10 shares N. Y. C. & H. R. R. R. Stock for cash, @ 136.00. {Rule First, page 109.) ■ 
 
 Discount, for Rob't C. Foy, Wells Bro's note, 800.00. Discount off, 3.27. Pay proceeds in cash, 
 796.73. {Rule Thira, ])age 109.) 
 
 Buy for cash, 25 shares Park Bank Stock, @ 145.00. (Rule Second, page 109.) 
 
 Receive cash of H. C. Griffiths, on deposit, 1500.00. 
 
 Sell Geo. Archer your sight draft on Bank of Commerce, 1000.00. Exchange \ ^, 2.50. Receive 
 cash, 1002.50. {Rule First, page 109.) 
 
 Discount, for J. W. Gardner, Caring & Reed's note, 600.00. Discount off, 1.51. Proceeds placed 
 to his credit, 598.49. {Rule Fourth, page 109.) 
 
 Pay Express charges on remittance to Bank of Commerce in cash, 1.75. 
 
 You may now balance your Journal. There should be eight entries on the left side and six on the 
 right side. The balance of cash on hand should be 20,293.42. Post the day's business, and then take 
 u Trial Balance. If correct, it should correspond with the following: 
 
 TRIAL BALANCE, JULY 7, 188- 
 
 Student, . . - - 
 E. A. Wooden, 
 H. E. Sankey, - - - 
 J. W. Gardner, - - - 
 Discount, - - - - 
 
 Cash, 
 
 Bank of Commerce, - 
 Merchants' Bank, - - - 
 Bills Receivable, - - - 
 
 Expense, 
 
 Exchange, - - - - 
 Bills Payable, - - - - 
 N. Y. C. & H. R. R. R. Stock, 
 H. C. Griffiths, ■ ' - 
 Park Bank Stock, ■ - 
 
 
 
 20000 
 
 500 
 
 
 30000 
 
 856 
 
 45 
 
 3369 
 
 376 
 
 25 
 
 4198 
 20 
 
 72805 
 
 37 
 
 52511 
 
 25000 
 
 
 3000 
 
 10000 
 
 
 6250 
 
 5900 
 
 
 
 4 
 
 25 
 
 7 
 500 
 
 6250 
 
 
 3960 
 1500 
 
 3625 
 
 
 
 125317 
 
 32 
 
 I25317J 
 
 25 
 49 
 13 
 95 
 
 50 
 
THEORETICAL AND PKACTICAIi BOOK-KEEPINU. 115 
 
 THURSDAY. JULY 8, 188-. 
 
 Sell 10 shares Park Bank Stock for cash, @ 150.00. 
 
 Pay H. C. Griffitlis' draft on you, 500.00, less discount, 2.25, by check on Merchants' Bank, 497.75. 
 {Rule Fourth, page 109.) 
 
 Eeceive cash on deposit of E. J. Howard & Co., 1275.00. 
 
 Buy of Reed & Hill, 60 shares N. Y. C. & II. R. R. R. Stock, @ 124^. Pay for same by check on 
 Merchants' Bank, 3000.00. Balance in cash. {Riile Third, page 109.) 
 
 Student appropriates cash for private use, 500. 00. 
 
 Sell J. W. Gardner your sight draft on Bank of Commerce, New York, 3500.00, nt ^^ exchange. 
 Receive his check on you in payment. {Rule Fourth, page 109.) 
 
 Pay sundry items of Telegraphing in cash, 1.45. 
 
 Receive cash on deposit of H. E. Sankey, 2350.00. 
 
 Pay your acceptance of 6th inst. in cash, 500.00. 
 
 Draw a sight draft on Bank of Commerce, 7500.00, and remit it to Merchants' Bank for your 
 credit. {Rule Fourth, page 109.) 
 
 Pay Howard & Co.'s check in cash, 100.00. 
 
 Discount for J. W. Gardner his accommodation note, endorsed by Lee & Parker, payable at Bank 
 of Commerce, New York, 1500.00. Discount off, 15.75. Proceeds to his credit. 
 
 Sell 20 shares N. Y. C. & II. R. R. R. Stock to Morgan & Reeves, @ 126^. Receive in payment, 
 their check on Fourth National Bank, New York, and remit same to Bank of Commerce, for your 
 credit. 
 
 Balance your Journal, and post tlio day's business. There should be twelve entries on the left 
 side, and ten on the riglit side. The cash on hand should be 19861.97. 
 
 FRIDAY, JULY 9, 188-. 
 
 Receive cash of R. N. Smith, for his note, 2500.00. 
 
 Accept E. J. Howard & Co.'s draft, in favor of H. C. Griffiths, to apply on % 850.00. 
 
 Sell II. C. Griffiths, your sight draft on Bank of Commerce, 1500.00, at i ^ exchange. Receive in 
 payment, cash, 800.00; his check on you for the balance. 
 
 Receive cash of J. W. Gardner, on deposit, 205.50. 
 
 Sell Wm. Smith, 15 shares Park Bank Stock, @ 150.00. Receive cash, 550.00, and his note for 
 the balance. 
 
 Pay H. E. Sankey's check in cash, 876.44. 
 
 Receive on deposit, of 0. B. Welch, cash, 500.00, and issue him a Certificate of Deposit. {Credit 
 Certificate of Deposit instead of 0. B. Welch.) 
 
 Have J. W. Gardner's note for 1500.00, rec'd yesterday, re-discounted at Bank of Commerce. 
 Discount off, 10.25. Proceeds to your credit. 
 
 Receive cash of H. C. Griffiths, on deposit, 200.00. 
 
 Protest Caring & Reed's note, 600.00, rec"d 7tli inst., for non-payment. Pay the Notary Public's 
 fees in cash, 1.35. {Debit Protested Paper, 601.35. and credit Bills Receivable, 600.00.) 
 
 Sell- H. E. Sankey 40 shares N. Y. C. & H. R. R. R. Stock, @ 138. Receive his check on you, 
 3120.00, and his check on Chemical National Bank, New York, for the balance. 
 
 Receive cash of E. J. Howard & Co., on deposit, 2500.00. 
 
 Receive cash of Wells Bro's, for their note, 800.00, and interest on same, 4.25. 
 
 Balance your Journal and post the day's business. Cash on hand, 29103.93. 
 
 SATURDAY, JULY 10, 188-. 
 
 Eeceive cash on deposit of E. J. Howard & Co., 275.00. 
 
 Discount, for L. D. Briggs, Alonzo Stebbins' note, 890.00. Discount off, 17.80. Give him draft 
 on Bank of Commerce for 500.00, at :|^^ exchange, and pay liim the balance of the proceeds in cash. 
 
 Pay H. E. Sankey's check in cash, 317.28. 
 
 Buy 100 shares Western Union Telegraph Stock, @ 98i. Give in payment, Wm. Smith's note, 
 rec'd yesterday, 1700.00, less discount, 12.75; your check on Merchants' Bank, 6000.00, and cash for 
 the balance. 
 
 J. W. Gardner, for whom you discounted Caring & Reed's note, protested yesterday, takes up th^ 
 note by his check on you, 601.35. 
 
116 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 Receive cash of IT. E. Sankey, on deposit, 2000.00. Issue him a Certificate of Deposit for 1000.00, 
 and place the bahince to his credit. 
 
 Sell H. C. Griffiths, 50 shares W. U. Telegraph Stock, @ lOl^J. Eeceive in payment, your 
 acceptance of yesterday in his favor, 850.00, less discount, 11.83; a sight draft on Importers and 
 Traders' Bank, New York, 1648.84; his check on you, 496.25; and currency for the balance. 
 
 Eeceive cash of J. W. Gardner, on deposit, 1750.00. 
 
 Remit to Bank of Commerce, for your credit, the check on Chemical National Bank rec'd yester- 
 day, 2000.00, and the draft on Importers and Traders' Bank rec'd to-day, 1648.84. 
 
 Sell for cash, 25 shares W. U. Telegraph Stock, @ lOOi 
 
 Benj. W. Craig pays his acceptance rec'd 6th inst., 2000.00, and interest on same, 6.00, as follows: 
 His check on Monroe Savings Bank, 1000.00; your Certificate of Deposit issued yesterday to 0. B. 
 Welch, 500.00; and currency for the balance. 
 
 Balance your Journal. Cash on hand, 34350. 69. After posting the day's business, make a Balance 
 Slieet and close the Ledger. 
 
 INVENTORIES, JULY 10, 188-. 
 
 20 shares N. Y. C. & H. R. R. R. Stock, @ 134^ 
 
 25 " W. U. Telegraph " @ 98| 
 
 Net Gain of Firm, 754.31. Present Worth of Firm, 49,754.31. 
 
 Note. — Remember, in making the Summary and in closing tlie Loss and Gain account, that the Net Gain is to be 
 shared by the proprietors in proportion to tlieir investments. Hand to the teacher a proof of the balances brought down 
 in closing the Ledger. Also present your books for inspection, and be prepared upon the following. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 109. — ' Define the Cash Method. ' To what kind of business is it best adapted? ' What are 
 its principal advantages? * For transactions in which Cash is the only debit, how is the entry to be 
 made in the Cash Journal? 'How if Cash is the only credit? 'How if there are several debits and 
 credits, one of which is Cash? ' How if no Cash enters into the transaction? 
 
 Page 112. — * Why do not the footings of the Journal show the cash received and disbursed? 'What 
 does the fooling of the loft side represent? "The right side? " What will the difEerence between 
 these footings represent? "How is the balance of cash on hand found? "Explain the manner of 
 posting and how tlie Ledger is kept in balance. 
 
 Page 114. — " In bringing down the balance of the previous day, to which column is it carried? 
 " Why? 
 
SHIPPING AND COMMISSION. 
 
 ' This set is designed to illustrate a general business in shipping property to and rcceiTing property 
 from other parties, to be sold on commission. The same principles are involved as explained and illus- 
 trated on pages 55-57. 
 
 ' In addition to the Journal, a Commission Sales Book and Cash Book are to be kept as ' principal 
 books. * Those entries only which pertain to consignments are to be made in the Sales Book. ' Entries 
 involving cash are to be made in the Cash Book. "All other entries are to be made in the Journal. 
 
 The simpler forms only of Commission Sales Book and Cash Book are illustrated in this set. 
 
 Special columns may sometimes be profitably introduced in these books, and when found advan- 
 tageous, they can easily be added to meet the requirements of any particular branch of the Commission 
 business. 
 
 117 
 
118 
 
 THfiOliKriCAL AND PKAUl'lUAL BOOK-KEEPING. 
 
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THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 119 
 
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 THEORETICAL AND PRACTICAL BOOK gEEPli^^. 
 
 CASH BOOK. 
 
 SEPTEMBER, 188-. 
 
 Sept. 
 
 1 
 8 
 9 
 
 n/ 
 
 CASH TO 8UNDRIK8. 
 
 Student, Investment, 
 Mdse. 50 bbls. Apples, 
 M. B. Steele, On account, 
 Foster Bro's Consignment, 200 bu. K. Wheat, 
 
 Sept. 
 
 11 
 
 -3 
 
 Balance, 
 
 2.35 
 
 3500 
 
 
 
 
 112 
 
 50 
 
 
 
 80 
 
 
 
 
 274 
 
 50 
 
 3967 
 
 
 
 
 3967 
 
 
 
 
 3628 
 
 25 
 
 JOURNAL 
 SEPTEMBER 3, 188- 
 
 n/ 
 
 Mdse. 
 
 To Bills Payable, 
 Welch Bro's, 
 
 Ship't to L. Coleman, 
 
 Bay View. 
 To Mdse. 
 Cash, 
 
 Bo't of Welch Bro's, 
 
 500 bbls. Apples, 2. 
 
 Gave them note at 10 days. 
 Balance on account, 
 
 Shipped him, to be sold on my 
 
 account, 
 350 bbls. Apples, 2. 
 
 Cartage on same. 
 
 1000 
 
 505 
 
 600 
 400 
 
 500 
 5 
 
 LEDGER. 
 
 STUDENT. 
 
 188- 
 Sept. 
 
 Cash, 
 
 3500 
 
 188- 
 Sept. 
 
 Sundries, 
 
 MERCHANDISE. 
 
 1000 
 
 188- 
 , Sept. 
 
 Cash, 
 
 Ship't to L. C. 
 
 112 
 500 
 
 at 3 
 
 50 
 
 M. B, STEELE. 
 
 188- 
 Sept. 
 
 3 Hamlin's Con. 
 10 
 
 
 180 
 
 775 
 
 188- 
 Sept. 
 
 9 
 
 Cash, 
 
 80 
 
 
 188- 
 Sept. 
 
 Cash, 
 
 EXPENSE. 
 
 18 
 
 75 
 
MEOEETICAL ANb PRACTICAL B00K;-KEEP1N&. 
 
 m 
 
 CASH BOOK. 
 
 SEPTEMBER, 18i 
 
 188- 
 Sept. 
 
 2 
 3 
 5 
 6 
 10 
 
 
 Hamlin's Consignment, 
 
 Expense, 
 
 Shi})'t to L. Coleman, 
 
 Foster Bro's Consignment, 
 
 Welch Bro's, 
 
 Balance, 
 
 Freight, 
 Office Books, 
 Cartage, 
 Freight, 
 On account. 
 
 On hand. 
 
 C5 
 
 18 
 
 5 
 
 50 
 
 200 
 
 70 
 
 338 
 3638 
 
 3967 
 
 75 
 25 
 
 LEDGER. 
 
 WELCH BROS. 
 
 188- 
 Sept. 
 
 10 
 
 Cash, 
 
 
 200 
 
 
 188- 
 Sept. 
 
 3 
 
 Mdse. 
 
 400 
 
 STORAGE. 
 
 188- 
 Sept. 
 
 Hamlin's Con. 
 
 10 
 
 COMMISSION. 
 
 1 
 
 
 
 1 188- 
 Sept. 
 
 6 
 
 Hamlin's Con. 
 
 24 
 
 WM. D. HAMLIN. 
 
 
 
 1 
 
 
 1 188- 
 Sept. 
 
 / 
 
 Hamlin's Con. 
 
 
 377 
 
 76 
 
 
 / 
 
 HOYT & EATON. 
 
 188- 
 Sept. 
 
 6 
 
 Hamlin's Con. 
 
 282 
 
 
 
 
 
 
 
 BILLS PAYABLE. 
 
 188- 
 Sept. 
 
 Mdse. 
 
 .600 
 
 SHIPMENT TO L. COLEMAN, Bay View. 
 
 188- 
 Sept. 
 
 Sundries, 
 
 505 
 
122 THEORETICAL AND PRACTICAL UOOK-KEfiPING. 
 
 SEPTEMBER, 188-. 
 
 1. Commence a general Shipping and Commission Business, inresting cash, 3500.00. (C. B.) 
 
 2. Receive from Wm. D. Hamlin, Laporte, to sell on his account, 1000 bu. White Oats. Pay Freight 
 
 on same in cash, 65.00. 
 
 Note. — Enter in Sales Book and Cash Book, and check the entries. See form of Sales Book on pages 118-119, form 
 of Cash Book on pages 120-121. Give each Consignment one-third of a page space in the Sales Book. Cash is 
 chec^ked in the Sales Book and omitted in posting, because the entry in the Cash Book credits Cash; and 
 Hamlin's Consignment is checked in the Cash Book and omitted in posting, because the entry in the Sales Book 
 debits Hamlin's Consignment; otherwise these amounts would be posted twice. » 
 
 3. Sell M. B. Steele, on <^c, from Hamlin's Consignment, 400 bu. W. Oats, @ 45c. (^S". B.) 
 
 Note. — Making this entry on the right hand side of the Sales Book credits Hamlin's Consignment and debits M. B. 
 Steele, same as in the Cash Method. 
 
 Buy of Welch Bro's, 500 bbls. Apples, @ 3.00. Give them in payment, your note at 10 days, 
 
 600.00. Balance on (^c. (/.) 
 Pay cash tor set of Office Books, 18.75. {C. B.) 
 
 5. Ship L. Coleman, Bay View, to be sold on your account, 250 bbls. Apples, @ 2.00. Pay Cartage 
 
 on same in cash, 5.00. {J. and C. B.) 
 
 Note. — Check Cash in the Journal and Ship't to L. Colemau !" the Ca.sh Book. For explanation see note under 
 Sept. 2d, above. 
 
 6. Receive from Foster Bro's, Carthage, to sell on their account, 500 bu. Red Wheat. Pay Freight 
 
 on same in cash, 50.00. (<S. B. and C. B., and check the entries.) 
 Sell Hoyt & Eaton, on «/c, from Hamlin's Consignment, 600 bu. W. Oats, @ 47c. {S. B.) 
 Close Wm. D. Hamlin's Consignment, and render an account of same. Storage, Ic. per bu., 10.00; 
 
 Commission, 2 ^ on sales, 9.24. Wm. D. Hamlin's net proceeds to his credit, 377.76. {R B. 
 
 See form of Account Sales, j)age 80.) 
 
 Note. — Rule a sheet of foolscap paper, and write up the form of this Account of Sales. See illustration on page 2- 6*7 
 an. Rule up the Consignments in the Sales Book as soon as they are closed. 
 
 8. Sell for cash, 50 bbls. Apples, @ 2.25. {C. B.) 
 
 Receive from Harding & Lee, Salem, to sell on their account, 400 bbls. Flour. (^S*. B.) 
 
 9. Receive cash of M. B. Steele, on oifc, 80.00. (C. B.) 
 
 Sell Geo. Gould, for cash, from Foster Bro's Consignment, 200 bu. R. Wheat, @ 1.37i. ('S'. B. 
 and (J. B.) 
 10. Pay Welch Bro's, cash on afe, 200.00. {C. B.) 
 
 Sell M. B. Steele, on % at 10 days, from Harding & Lee's Consignment, 100 bbls. Flour, @ 7.75. 
 {S. B.) 
 
 You may now balance your Cash Book, after which post the foregoing entries. Post from the 
 Journal as heretofore. "Post from the Cash Book and Sales Book as instructed for the Cash Method; 
 that is, all items on the left side are to be credited, and all on the right side debited. You need not in 
 this set, however, open in the Ledger a Cash account nor accounts with Consignments. ' When 
 taking a Trial Balance, carry to it the balance of cash on hand, as shown by the Cash Book, and the 
 balances of all unclosed Consignments, as shown by the Sales Book. All items tliat are checked are 
 not to be posted. In posting the items not checked, use the Ledger folio as a check mark. Give each 
 account one-fourth of a page space. 
 
 Commence with the Cash Book, and complete the posting from that book; then follow with the 
 Sales Bogk in same manner, and then with the Journal. The dates will not come in regular order in 
 the Ledger by this method of posting, but this is not material. After you have finished posting from 
 all of the books, your Ledger accounts should agree with those given on pages 120-121. 
 
 Take a Trial Balance, and it should agree with the one given on next page. The debits and 
 credits in Foster Bro's Consignment and Harding & Lee's Consignment being une([ual, as shown by 
 your. Sales Book, it becomes necessary to enter them in the Trial Balance; also enter in the Trial 
 Balance the balance of cash on hand, as shown by the Cash Book. 
 
tllEORETiCAL AND PRACTICAL BOOK-KEEPING. 
 
 123 
 
 TRIAL BALANCE, SEPTEMBER 10, 188- 
 
 Student, 
 
 Mdse. 
 
 M. B. Steele, - - - - 
 Expense, . . - - 
 Welch Bro's, - . - - 
 Storage, . - . - 
 
 Commission, . - . - 
 Wm. D. Hamlin, - - - 
 Hoyt & Eaton, - - - - 
 Bills Payable, . . - 
 
 Sliip't to L. Coleman, Bay View, 
 Foster Bro's Con. - - - 
 Harding & Lee's Con. 
 Cash, ----- 
 
 
 
 3500 
 
 
 1000 
 
 
 Gt2 
 
 50 
 
 955 
 
 
 80 
 
 
 18 
 
 75 
 
 
 
 300 
 
 
 400 
 10 
 
 
 
 
 9 
 
 24 
 
 
 
 377 
 
 76 
 
 282 
 
 
 GOO 
 
 
 505 
 
 
 
 
 j 
 
 
 224 
 
 50 
 
 
 
 775 
 
 
 3G28 
 
 25 
 
 
 
 6589 
 
 00 
 
 6589 
 
 00 
 
 After completing the Trial Balance, continue the business, making the entries for the following 
 transactions in the various books as heretofore instructed. 
 
 SEPTEMBER, 188-. 
 
 11. Receive cash of Hoyt & Eaton, on "{c, 182.00. 
 
 Buy of Jas. P. King, on "jc, 300 bu. Potatoes, @ 65c. (/.) 
 
 Pay cash for Cooperage on Flour belonging to Harding & Lee's Consignment, 3.75. {S. B. and 
 C. B., and check the entries.) 
 
 12. Sell P. J. Gibson, for cash, from Foster Bro's Consignment, 300 bu. R. AVheat, @ 1.37i. {S. B. 
 
 and C. B., and check.) 
 Close Foster Bro's Consignment, and render an account of same. Storage, 2^c. per bu., 12.50; 
 Commission, 2^ on sales, 13.73. Net proceeds lemitted in cash, 610.02. (S. B. and C. B.; 
 check 610.02.) 
 
 13. Receive from L. Coleman an account of the shipment made him 5th inst., with cash for your net 
 
 proceeds, 634.50. (C. B.) 
 Student draws cash for private use, 50.00. 
 Sell J no. Howe, from Harding & Lee's Consignment, 100 bbls. Flour, @ 8.00. Receive cash, 
 
 300.00. Balance on ajc at 15 days. {S. B. and 0. B.; check 300.00.) 
 
 15. Ship A. G. Niles, Evansville, to be sold on your account, 200 bu. Potatoes, @ 65c. Pay Cartage 
 
 in cash, 3.25. (/. and V. B.j check 3.25.) 
 Note. — Write up on foolscap paper the form for this Invoice of Shipment. See Business Forms, on last pages of 
 the text book, for illusliation. 
 
 Pay Book-keeper cash, to apply on Salary, 25.00. 
 
 Remit Harding & Lee, for cash sale made from their Con. 13 inst., 300.00. {S. B., 0. B. and check.) 
 
 16. Pay your note due to-day in cash, 600.00. 
 
 18. Receive from Henry Benson, Seneca, to sell on his account, 500 doz. Eggs. Pay Express charges 
 
 in cash, 6.25. 
 
 Note. — The letters indicating the books will hereafter be omitted. Remember to check Cash whenever it is debited 
 or credited elsewhere than in the Cash Book, and to check Consignments if debited or credited elsewhere than 
 in the Sales Book. 
 
 19. Remit Wm. D. Hamlin cash in full for his net proceeds, as per Account Sales 6tli inst., 377.76. 
 Sell for cash, 50 bu. Potatoes, @ 75c. 
 
 Pay J. P. King cash on «/«, 50.00. 
 
 Sell to Geo. Lacy, tor cash, from Benson's Consignment, 200 doz. Eggs, @ 18c. 
 
 20. Sell W. D. Vance, on his note at 30 days, from Harding & Leo's Consignment, 200 bbls. Flour, 
 
 @ 8.00. 
 Close Harding & Lee's Consignment, and render an account of same. Storage, 8c. j)er bbl. ; 
 
 Commission, 2 ^ of sales. Balance to Harding & Lee's credit due by equation Oct. 10th. 
 Note. — You are required to work this equation to verify the result as given above. See your Arithmetic for 
 instruction m Equation of Accounts. 
 
 Receive cash of M. B. Steele, in full of % 875.00. 
 
124 
 
 THEORETICAL AND PRACTICAL BOOK-KEKPING. 
 
 You may now balance your Cash Book. Cash on hand, 4078.97. Next post the foregoing entries 
 from the various books, as instructed on page 123, after which take a Trial Balance. Eemember that 
 Cash and all unclosed Consignments must be entered in the Trial Balance before it will prove. 
 
 Iir the Trial Balance given below, a portion only of the amounts are extended, the student being 
 required to complete the extensions, as well as to verify those which are given, from his own books. 
 After completing the Trial Balance, continue the business to the end of September, when you will 
 make out a Balance Sheet and close the Ledger. 
 
 TRIAL BALANCE, SEPTEMBER 20, 188-. 
 
 Student, - - - - 
 
 Mdse. 
 
 Expense, - . . . . 
 
 Welch Bro's, - . . . 
 Storage, ------ 
 
 Commission, - - - . 
 Hoyt & Eaton, - - . . 
 Ship't to L: Coleman, Bay View, 
 J. P. King, - - - - - 
 
 Harding & Lee, - - - - 
 
 J. Howe, - - - . - 
 Bills Keceivable, - - - 
 Ship't to A. G. Niles, Evansville, - 
 Henry Benson's Con. - - - 
 Cash, 
 
 50 
 1195 
 
 505 
 
 133 
 
 35 
 
 4078 97 
 
 8637 
 
 97 
 
 3500 
 
 780 
 
 54 
 
 80 
 
 634 
 
 8637 
 
 50 
 
 47 
 
 50 
 
 97 
 
 3L 
 33. 
 
 33. 
 
 24. 
 
 25. 
 
 36. 
 
 37. 
 
 28. 
 
 SEPTEMBER, 188-. 
 Ship Wells & Co., Argyle, to be sold on your account, 100 bbls. Apples, @ 2.00. 
 Receive from Lester, Hall & Co., Brantford, to sell on their account, 300 bu. Clover Seed. Pay 
 
 Freight in cash, 15.00. 
 Receive from A. G. Niles an account of the shipment made him 15th inst. Net proceeds placed 
 
 to your credit, 131.75. 
 Receive cash of Jno. Howe, on '^c, 300.00. 
 Remit Harding & Lee cash, for balance due them on their Consignment, 2775.75, less discount to 
 
 equated time of payment, Oct. 10. 
 Receive from Wm. D. Hamlin, to sell on his account (3d Consignment), 3000 bu. White Wheat. 
 
 Pay Freight in cash, 330.00. 
 Buy of Thos. C. Jennings, on your note at 60 days, 800 bu. Corn, @ 70c. 
 Pay Welch Bro's cash, in full of % 300.00. 
 Sell French & Sweet, for casli, from Lester, Hall & Co.'s Consignment, 100 bu. Clover Seed, 
 
 @ 5.00. 
 Close Lester, Hall & Co.'s Consignment (100 bu. Clover Seed remaining unsold), and render an 
 
 account of same. Storage, 2^0. per bu., 5.00; Commission, 3 j^ of sales. Net proceeds 
 
 remitted in cash, 470.00. 
 
 Note. — Make a memorandum simply, on the credit side of the Consignment, of the 100 bu. unsold. Next close 
 and rule up the Consignment, and then enter, below the ruling on the debit side, the memorandum of the 100 
 bu. unsold. 
 
 Sell for cash, 50 bu. Potatoes, @ 78c. 
 
 Ship 0. W. Sears, Branchport, to be sold on your account, 800 bu. Corn, @ 70c. Pay Insurance 
 
 5.00, and Labor on same, 3.10 in cash. 
 A. G. Niles remits you cash, to balance his ^, 121.75. 
 
 Pay cash for re-packing 300 doz. Eggs belonging to Benson's Consignment, 1.35. 
 Pay J. P. King cash on cfc, 45.00. 
 
 Sell Jas. Barger, for cash, 385 doz. Eggs, from Benson's Consignment, @ 17c. 
 15 doz. Eggs belonging to Benson's Consignment were broken. 
 Close Benson's Consignment, and render an account of same. Commission, 2^ ot sales. Net 
 
 proceeds remitted in cash. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 125 
 
 28. Sell M. B. Steele, on "jc, 100 bbls. Apples, @ 2.40. 
 
 Prepay your note of 26th inst., favor of Thos. C. Jenniijgs, in cash, less discount. 
 39. Sell Scott & Trevor, on their note at 15 days, from Hamlin's Con. No. 2, 250 bu. W. Wheat, 
 
 @ 1.25. 
 30. Eeceive from Wells & Co. an account of the shipment made them 21st inst. Net proceeds 
 remitted in cash, 224.50. 
 AV. D. Vance prepays his note of 20th inst. in cash, less discount. 
 Sell Chas. G. Nixon, from Lester, Hall & Co.'s Consignment, 100 bu. Clover Seed, @ 5.00. Receive 
 
 his check on Bank of Republic, 300.00. Balance on "fc. 
 Close Lester, Hall & Co.'s Consignment, and render an account of same. Storage, 2Jc. per bu., 
 2.50; Commission, 2^ of sales. Remit cash to Lester, Hall & Co. 200.00, and place the 
 balance of the net proceeds to their credit. 
 Pay Book-keeper balance due on month's salary, 25.00, and Warehouse Rent, 50.00, in cash. 
 Receive cash of Hoyt & Eaton, to balance "jc, 100.00. 
 
 INVENTORY, SEPTEMBER 30, 188-. 
 Shipment to 0. W. S., Branchport, 568 10 
 
 You may now balance your Cash Book. Cash on hand, 2464.18. Post and make out a Balance 
 Sheet and close the Ledger. Your Summary should exhibit as follows: 
 
 SUMMARY, SEPTEMBER 30, 188-. 
 
 Total Resources, 4102 28 
 
 " Liabilities, 387 50 
 
 Present Woi-th, ___ 3714 78 
 
 Total Gains, 395 03 
 
 " Losses, - . _ 130 25 
 
 NetGain, 264 78 
 
 After closing the Ledger and proving your balances, present your books, witli a proof of the Ledger 
 balances, to the teacher for inspection. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 117.— 'What does this set illustrate? 'What books are employed? 'Are they us^d as 
 principal or auxiliary books? * What entries are made in the Sales Book? ' In the Cash Book? « In 
 
 the Journal? 
 
 Page 123.—' Why are Cash and Consignments checked and omitted in posting when they appear 
 in any other books than the Cash Book and Sales Book? « In posting from the Ca.sh Book and Sales 
 Book, how is the work to be performed? » Why must unclosed Consignments and the balance of cash 
 on hand be entered in the Trial Balance? 
 
 NoTB. — Review also the questions given on page 63. 
 
WHOLESALE. 
 
 ' This set is designed to illustrate, in a general way, a method for keeping the books of a Wholesale 
 or Jobbing Business, '•'by combining and extending the short methods of book-keeping explained and 
 illustrated in previous sets, so that much time and labor may be saved in performing the work. 
 
 Since in almost every business of any magnitude there will be features peculiar to that particular 
 business, there must of necessity be required other forms and books than those here given, and which 
 it would be quite impossible to illustrate within the scope of an ordinary text book. 
 
 ' The principal books and forms, however, together with their uses and advantages, are so fully 
 illustrated and explained, that any modifications of or additions to them, necessary to meet the require- 
 ments of any particular business, may readily be devised and employed. 
 
 The books to be used are the Journal, Sales Book, Check Book, Cash Book, Bill Book and Ledger. 
 
 136 
 
THEORETICAL AND PRACTICAL BOOK-ia':EPING. 127 
 
 EXPLANATIONS OF BOOKS USED. 
 
 JOURNAL. 
 * The Journal, as used in this set (see form on page 138), combines with it the Invoice Book, 
 sometimes kept as a separate book, "by the addition of an extra column (headed "Mdse. Dr." in the 
 form), in which the purchases of Mdse. only are to be entered. 'This column is to be added and the 
 footmg carried forward from page to page until the end of the day or week or month, as desired, ' at which 
 time the total footing is to be posted to the debit of Mdse. account. ' The items in the columns 
 headed "Sunds. Dr." and '■ Suuds. Cr." are to be posted separately, as in the ordinary Journal. 
 These columns may be footed, so as to prove with the Check Sheets explained on page 134. 
 •The Invoices themselves may either be filed away in packages, or pasted in a large book made 
 especially for that purpose. '" This may be used as a principal book if desired, by " posting from it 
 directly to the Ledger, without making the entries in the Journal. 
 
 SALES BOOK. 
 " The Sales Book (see form on page 129) is designed to contain sales of Mdse. only. " The net 
 amount of each bill is to be extended to tlie last column, and debited to the person wlio purchased it. 
 " The last column is to be added and the footing carried forward from page to page until the end of the 
 day, week or month, as desired, " the total being then posted to the credit of Mdse. account. " An 
 additional advantage may be secured by using for a Sales Book a large Copying Book, in. which 
 impressions of all of the bills may be made and posted directly to the Ledger. 
 
 CHECK BOOK. 
 " In the Check Book (the form given on page 130 shows the stub only) is to be kept a record of all 
 transactions with the bank, ''and a Bank account is not to be opened in the Ledger. " When a deposit 
 is made, the Bank is debited for the amount of the deposit by entering it in tlie Check Book, with the 
 proper explanation, and " adding the amount to the previous balance. " When a cheek is drawn, the 
 bank is credited, by " deducting the amount of the check from the previous balance. '" No entry is to 
 be made in the Cash Book when cash is deposited, "the balance in bank being treated as cash on 
 hand. ''When a payment is made by check, therefore, the amount must be entered to the credit of 
 cash in the Cash Book, in addition to crediting the bank in the Check Book, because reducing the 
 bank balance reduces the cash balance at the same time. 
 
 CASH BOOK. 
 
 " The Cash Book (see form on pages 130-131) is designed to contain cash entries only. " It is 
 arranged with special columns, ** in order to classify to some extent the receipts and payments of cash, 
 and to facilitate the work of posting. " The footings only of the special columns are to be posted 
 daily, weekly or monthly, as desired, those on the left side being credited, and those on the 
 right debited. '"The. items in the Sundries columns are to be posted separately, those on the 
 left side credited, and those on the right debited. " In posting to the Cash account in the 
 Ledger, the diSerence in the cash balances only is to be posted. " If the balance of cash on hand 
 is less than at the last posting, Cash account is to be credited with the difference; "if more, 
 IS to be debited. To prove the cash, "add together the footings of all of the columns on the left side 
 of the Cash Book, and the amount will be the total debit of Cash; ""then add together the footings of 
 all of the columns on the right side, and and the amount will be the total credit of Cash. ** The 
 difference between these two amounts will lie tho balance of cash on hand, " which is found by adding 
 the cash in safe and the balance in bank together. 
 
 BILL BOOK. 
 
 " The Bill Book is to be kept as an auxiliary book, the same as heretofore. " It may ]>e kejjt as a 
 principal book; but as a rule the entries in it are so few, comparatively, that most book-keepers- 
 prefer to journalize such entries. 
 
 TRIAL BALANCE. 
 
 " The form of Trial Balance shown on page 134 is called a Continued Trial Balance, and " is 
 designed to save the time and labor consumed in re-copying the titles of the various accounts whenever 
 a Trial Balance is to be taken. 
 
 LEDGER INDEX. 
 
 A common form of Ledger Index is illustrated on page 131. " A convenient plan for such an 
 Index, if the number of accounts is not too great, is to arrange the names alphabetically, as shown in 
 the form on page 131, written upon a stiff card of suitable size, which can stand in front of the person 
 who is posting, making it much easier to be referred to than the ordinary form of Index. " When the 
 number of accounts is very large, a Vowel Index is generally employed. 
 
128 
 
 THEORETICAL AND PRACTICAL BOOK KEEPING. 
 JOURNAL. 
 
 OCTOBER, 188-. 
 
 DATE. 
 
 FoUo. 
 
 
 MDSE. DR. 
 
 8DNDS. DR. 
 
 BUNDS. CR. 
 
 Oct. 
 
 1 
 
 H. G. Fuller and Student form a co-partnersliip 
 
 
 
 
 
 
 
 
 
 
 this day, under the firm name of Fuller & Stu- 
 
 
 
 
 
 
 
 
 
 
 dent, to engage in the Wholesale Business of 
 
 
 
 
 
 
 
 
 
 
 Wooden Ware and Grocers' Sundries. 
 
 
 
 
 
 
 
 
 
 
 The partners are to invest equally, and share 
 
 
 
 
 
 
 
 
 
 
 equally in gains and losses. An interest ac- 
 
 
 
 
 
 
 
 
 
 
 count is to be kept between the partners. 
 
 
 
 
 
 
 
 
 J? 
 
 61 
 
 61 
 61 
 61 
 62 
 
 Sundries, To H. G. Fuller, 
 
 Invested as follows : 
 Bills Receivable, Carter's note, per B. B. 
 
 Hawley & Co. 's note, per B. B. 
 Interest, On above to date, 
 Cowles & Hutchings, On account, 
 Olean. 
 
 
 
 300 
 
 500 
 
 7 
 
 3556 
 
 33 
 
 14 
 
 3363 
 
 47 
 
 
 ?s 
 
 61 
 61 
 63 
 63 
 
 61 
 62 
 63 
 
 63 
 
 61 
 
 Sundries, To Sundries, 
 
 Student invested as follows: 
 Bills Receivable, Leighton's note, per B. B. 
 Interest, On above to date, 
 W.& E.Morgan, City, On account, 
 To Bills Payable, Note to Fulton, per B. B., 
 assumed by the firm. 
 Interest, On above to date, 
 S.W.Siddons,City, On account, 
 Lorrain Mfg. Co., " 
 
 New York, 
 Brown Bro's & Sea-^ 
 
 ver, Eastport, *" " 
 Student, Net Investment, 
 
 
 
 3000 
 
 30 
 
 2014 
 
 66 
 
 600 
 
 8 
 307 
 490 
 
 275 
 3363 
 
 50 
 44 
 35 
 
 47 
 
 
 2 
 
 63 
 
 To Byron Vaile, Inv. Oct. 1, 60 days, 
 Toronto. 
 
 612 
 
 25 
 
 
 
 613 
 
 25 
 
 
 3 
 
 61 
 62 
 
 Bills Receivable, Rec'd note to apply on "/c. 
 To W. & E. Morgan, per B. B. 
 
 
 
 500 
 
 
 500 
 
 
 
 4 
 
 63 
 
 To Scovell, Hodges & 
 
 Co., New York, Inv. Oct. 2, 15 days. 
 
 812 
 
 34 
 
 
 
 813 
 
 34 
 
 
 » 
 
 63 
 62 
 
 Brown Bro's & Seaver, Gave them note per B. B. on 
 To Bills Payable, account. 
 
 
 
 100 
 
 
 100 
 
 
 
 5 
 
 64 
 
 To F.M. Reed, Boston, Inv. Oct. 3, 90 days. 
 
 1540 
 
 71 
 
 
 
 1540 
 
 71 
 
 
 ?) 
 
 61 
 65 
 
 Bills Receivable, " Rec'd note per B. B., for 
 To B. N. Achard, Mdse. as per S. B. 
 
 
 
 81 
 
 75 
 
 81 
 
 75 
 
 
 7 
 
 64 
 
 To Hopkins & Weeks, Inv. Oct. 4, 60 days, 
 Baltimore. 
 
 1316 
 
 70 
 
 
 
 1316 
 
 70 
 
 
 8 
 
 63 
 62 
 
 Scovell,Hodges& Co. Gave them note in full for 
 To Bills Payable, Inv. Oct. 2, 
 
 
 
 812 
 
 34 
 
 812 
 
 34 
 
 
 9 
 
 64 
 
 To Geo. P. Osgood, Inv. Oct. 7, 30 days, 
 
 Chicago. 
 Brown Bro's & Seaver, Remitted them, on "/c, draft 
 
 216 
 
 50 
 
 
 
 216 
 
 50 
 
 
 )? 
 
 63 
 
 
 
 100 
 
 
 
 
 
 
 62 
 
 To Cowles & Hutch- at 30 days on C. & H. 
 
 
 
 
 
 100 
 
 
 
 10 
 
 63 
 
 ings. 
 To Byron Vaile, Inv. Oct 7, 60 days, 
 
 376 
 
 88 
 
 
 
 376 
 
 88 
 
 
 ;? 
 
 61 
 62 
 
 64 
 
 Bills Receivable, Rec'd note to apply on "/c, 
 To W. & E. Morgan, per B. B. 
 
 
 
 300 
 
 
 300 
 
 
 
 4875 
 
 38 
 
 10303 
 
 23 
 
 15177 
 
 60 
 
 
 
 
 
 
 
THBOKETIOAL AND PRACTICAL BOOK-KEEPING. 
 
 SALES BOOK. 
 
 OCTOBER. 188-. 
 
 129 
 
 Oct. 
 
 65 
 
 G5 
 
 65 
 
 65 
 
 65 
 
 66 
 
 65 
 
 66 
 
 64 
 
 Frank Goodspeed, Waverly. 
 
 
 
 
 
 
 
 
 1 doz. No. 1 0. Chop. Trays, 
 
 5. 
 
 
 
 5 
 
 
 
 
 2 Glass Cheese Safes, 
 
 4.50 
 
 
 
 9 
 
 
 
 
 10 Nests P. Pails, 
 
 1.25 
 
 
 
 13 
 
 -50. 
 
 26 
 
 5( 
 
 F. E. Warren, New Kochelle. 
 
 
 
 
 
 
 
 
 3 doz. N. D. Z. Wash Boards, 
 
 3.50 
 
 
 
 7 
 
 50 
 
 
 j 
 
 5 " E. S. Z. 
 
 1.75 
 
 
 
 8 
 
 75 
 
 
 
 5 M No. 4 Paper Bags, 
 
 1.75 
 
 8 
 
 75 
 
 
 
 
 
 
 10^ 
 
 
 88 
 
 7 
 
 87 
 
 
 
 3 doz. 12-in. B. Bowls, 
 
 1.75 
 
 
 
 5 
 
 25 
 
 
 
 4 " Cov. W. D. Baskets, 
 
 2.50 
 
 
 
 10 
 
 
 
 
 2 " 0. C. Trays, No. 2, 
 
 5. 
 
 
 
 10 
 
 
 
 
 1* " No. 10 Feather Dusters, 
 
 20. 
 
 30 
 
 
 
 
 
 
 1 " No. 12 
 
 26.50 
 
 26 
 
 50 
 
 
 
 
 
 56 
 
 50 
 
 
 25 and 10 i 
 
 18 
 
 36 
 
 
 
 
 
 
 
 
 
 38 
 
 27 
 
 14 
 
 
 
 10 gro. Gates' Matches, 
 
 2.70 
 
 
 
 
 
 6 Broom Racks, 
 
 2.50 
 
 
 
 _ 15 
 
 
 
 129 
 
 5] 
 
 Larkin & Sprong, Groveland. 
 
 30 days. 
 
 
 
 
 
 
 
 2 doz. Wood Shovels, 
 
 7.50 
 
 
 
 15 
 
 
 
 
 25 lbs. Cotton Twine, 
 
 .24 
 
 
 
 6 
 
 
 
 
 2 doz. No. 3 Wood Scoops, ■ 
 
 4.50 
 
 
 
 9 
 
 
 30 
 
 
 B. N. Achard, Scipio. Note 
 
 per B. B. 
 
 
 
 
 
 
 
 10 doz. 2-hoop Pails, 
 
 2. 
 
 
 
 30 
 
 
 
 
 3 " H. H. Tubs, 
 
 8.75 
 
 
 
 26 
 
 35 
 
 
 
 2 " Com. H. Tubs, 
 
 8.50 
 
 
 
 17 
 
 
 
 
 3 " Clothes Pounders, 
 
 3. 
 
 
 
 6 
 
 
 
 
 10 " Rolling Pins, 
 
 1.25 
 
 
 
 12 
 
 50 
 
 81 
 
 75 
 
 Larkin & Sprong, 
 
 30 days. 
 
 
 
 
 
 
 
 13 doz. Royal S. Dressing, 
 
 1. 
 
 
 
 13 
 
 
 
 
 4 gro. Dixon S. Polish, 
 
 6.00 
 
 
 
 24 
 
 
 
 
 3 doz. qts. University Ink, 
 
 6.00 
 
 18 
 
 
 
 
 
 
 
 10^ 
 
 1 
 
 80 
 
 16 
 
 20 
 
 52 
 
 20 
 
 Welch & Dow, Fairport. 
 
 Cash. 
 
 
 
 
 
 
 
 6 gro. W. Crystal, 
 
 2.75 
 
 
 
 16 
 
 50 
 
 
 
 50 boxes Crayon, 
 25 gro. K. Wicks, 
 
 .07 
 
 
 
 3 
 
 50 
 
 
 
 .40 
 
 
 
 10 
 
 
 30 
 
 
 Frank Goodsjjeed. 
 
 45 days. 
 
 
 
 
 
 
 
 2 doz. N. C. Wringers, 
 
 45. 
 
 
 . 
 
 90 
 
 
 
 
 3 " W. Shovels, 
 
 7.50 
 
 
 
 23 
 
 50 
 
 
 
 5 " H. H. Tubs, 
 
 8.75 
 
 
 
 43 
 
 75 
 
 
 
 2 Oil Tanks, 
 
 16. 
 
 25^ 
 
 33 
 
 8 
 
 
 24 
 
 
 
 
 4 doz. B. Baskets, 
 
 7.50 
 
 
 
 30 
 
 
 
 
 3 " 11. Brushes, 
 
 6. 
 
 
 
 18 
 
 
 
 
 5 gro. Kinning's Bluing, 
 
 8. 
 
 
 
 40 
 
 
 268 
 
 25 
 
 Welch & Dow. 
 
 
 
 
 
 
 
 
 4 doz. U. Ink, 
 
 6. 
 
 24 
 
 
 
 
 
 
 
 -10^ 
 
 2 
 
 40 
 
 21 
 
 60 
 
 
 
 4 " H. H. Tubs, 
 
 8.75 
 
 
 
 35 
 
 
 1 
 
 
 5 " W. 'Shovels, 
 
 7.50 
 
 
 
 37 
 
 50 
 
 94 
 
 IC 
 
 712 
 
 31 
 
 
 
 
 
 
 
 
 
130 
 
 THEORETICAL AND PRACTICAL BOOK KEEPING. 
 
 ■ CASH BOOK. 
 
 OCTOBER, 188-. 
 
 DATS. 
 
 Folio. 
 61 
 
 CASH 
 
 TO SUNDRIES. 
 
 SUNDRIES. 
 
 HDSE. 
 
 BILLS RKC. 
 
 DISCOUNT. 
 
 0.!t. 
 
 1 
 
 H. G. Fuller, 
 
 Cash paid in. 
 
 2636 
 
 53 
 
 
 
 
 
 
 
 
 
 61 
 
 Student, 
 
 On deposit in C. Bank, 
 
 2636 
 
 53 
 
 
 
 
 
 
 
 
 2 
 
 
 Mdse. 
 
 Drawer sales, 
 
 
 
 95 
 
 48 
 
 
 
 
 
 
 3 
 
 
 Discount, 
 
 B. Vaile, 
 
 
 
 
 
 
 
 30 
 
 61 
 
 
 4 
 
 
 Bills Eeceivable, 
 
 Leigh ton's note paid. 
 
 
 
 
 
 3000 
 
 
 
 
 
 ?? 
 
 61 
 
 Interest, 
 
 On above note. 
 
 31 
 
 50 
 
 
 
 
 
 
 
 
 J? 
 
 
 Mdse. 
 
 Drawer sales, 
 
 
 
 21 
 
 19 
 
 
 
 
 
 
 5 
 
 
 <( 
 
 a it 
 
 
 
 62 
 
 10 
 
 
 
 
 
 
 jy 
 
 66 
 
 Welch & Dow, 
 
 Cash sale per S. B. 
 
 30 
 
 
 
 
 
 
 
 
 
 6 
 
 * 
 
 Bills Eeceivable, 
 
 Hawlev & Co. 's note paid. 
 
 
 
 
 
 500 
 
 
 
 
 
 ?J 
 
 61 
 
 Interest, 
 
 On above note. 
 
 7 
 
 75 
 
 
 
 
 
 
 
 
 8 
 
 65 
 
 Frank Goodspeed, 
 
 Inv. 3d inst. 
 
 26 
 
 50 
 
 
 
 
 
 
 
 
 >f 
 
 
 Mdse. 
 
 Drawer sales. 
 
 
 
 52 
 
 12 
 
 
 
 
 
 
 JJ 
 
 
 Bills Receivable, 
 
 Carter's note paid. 
 
 
 
 
 
 300 
 
 
 
 
 
 10 
 
 65 
 
 Larkin & Sprong, 
 
 Inv. Oct. 3, 
 
 30 
 
 
 
 
 
 
 
 
 
 J> 
 
 
 Discount, 
 
 F. M. Eeed, 
 
 
 
 
 
 
 
 38 
 
 52 
 
 
 
 
 
 
 939 S 
 
 8 1 
 
 2 3 
 
 8 » 
 
 3 8 
 
 
 6» 
 
 1 3 
 
 
 
 64 
 
 
 Mdse. 
 
 230 
 
 89 
 
 
 
 
 
 
 
 
 
 61 
 
 
 Bills Receivable, 
 
 3800 
 
 
 
 
 
 
 
 
 
 
 66 
 
 Balance, 
 
 Discount. 
 
 • 
 
 69 
 
 13 
 
 
 
 
 
 
 
 
 
 9408 
 
 83 
 05 
 
 
 Oct. 
 
 11 
 
 6149 
 
 
 
 
 FIRST PAGE. 
 
 Oct. 1. Balance, 
 " 2. Deposited, 
 
 No.....}-. 
 
 Date Oct.3, 188-. 
 
 2^0 \Vm. Strong. 
 
 for Rent for October. 
 Amount 
 
 No .?•....... 
 
 Date..^^^- 3; 
 
 fo College Bank. 
 
 fof^ Draft remitted to Vaile. 
 Amount 
 
 CHECK BOOK STUB. 
 
 2636 
 
 2000 
 
 4 «3« 
 
 125 
 
 4911 
 
 583 
 
 3>38 
 
 53 
 
 09 
 
 4 4 
 
 SECOND PAGE, 
 
 Oct. 4. Deposited, 
 " 9. Note favor of Fulton paid, 
 " 10. Deposited, 
 
 No. 3: 
 
 Date Oct:..lOA 
 
 fo F. M. Reed. 
 
 Por ^n account. 
 
 A mount... 
 
 3 928 
 
 4 4 
 
 2500 
 
 e4a8 
 
 4 4 
 
 609 
 
 30 
 
 58 19 
 
 1 4 
 
 500 
 
 
 1502 
 
 4 8 16 
 
 19 
 
 9S 
 
THKORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 CASH BOOK. 
 
 OCTOBER, 188-. 
 
 131 
 
 DATB. 
 
 Folio. 
 
 03 
 63 
 
 62 
 
 62 
 61 
 
 64 
 
 66 
 
 66 I 
 
 66 
 
 SUNDRIKS TO CASH. 
 
 SUNDRIES. 
 
 EXPENSE. 
 
 DISCOUNT. 
 
 Oct. 
 
 2 
 3 
 
 » 
 
 4 
 8 
 9 
 
 10 
 
 Expense, Office Safe, 200; Books, 37.50 
 
 Lorrain Mfg. Co. On account, 
 
 Ex5)ense, Rent for October, 
 
 Byron Vaile, Inv. Oct. 1, 
 
 Expense, Exch. on draft, 
 
 S. W. Siddons, On account. 
 
 Discount, F. Goodspeed, 
 
 Bills Payable, Note favor Fulton, 
 
 Interest, On above note. 
 
 Discount, Larkin & Sprong, 
 
 F. M. Reed, Inv. Oct. 3, 
 
 Expense, Coal for office. 
 
 Expense, 
 Discount, 
 
 Balance, In Bank, 4816.05 
 '•• Sale, 1332.10 
 
 100 
 
 612 
 
 107 
 
 600 
 
 9 
 
 1540 
 
 aggg 
 379 
 
 25 
 44 
 
 30 
 
 71 
 
 70 
 
 25 
 
 83 
 
 237 
 
 125 
 1 
 
 15 
 
 370 
 
 50 
 
 45 
 
 30 
 as 
 
 
 53 
 
 30 
 
 8 3 
 
 
 3349 
 
 6149 
 
 78 
 05 
 
 
 
 9498 
 
 83 
 
 
 
 
 
 
 
 
 LEDGER INDEX. 
 
 Achard, B. N., 65. 
 
 B 
 
 Bills Receivable, 61. 
 Bills Payable, 62. 
 Brown Bro's & S., 63. 
 
 Cowles & Hutchings, 62. 
 Cash, 66. 
 
 Discount, 66. 
 
 Expense, 66. 
 Eaton, M. M., 67. 
 
 Fuller, H. G., 61. 
 
 Goodspeed, Frank, 65. 
 Gardner, Wm., 67. 
 
 Hopkins & Weeks, 64. 
 Hackett & Brisbain, 66. 
 
 I, J 
 
 Interest, 61. 
 
 Lorrain Mfg. Co., 63. 
 Larkin & Sprong, 65. 
 
 LEDGER INDEX. 
 
 M 
 
 
 S 
 
 Morgan, W. & E. 
 Merchandise, 04. 
 
 , 62. 
 
 Student, 61. 
 Siddons, S. W., 62. 
 Scovell, H. & Co., 63. 
 
 N 
 
 
 T 
 Tildeu & Breme, 67. 
 
 
 
 
 U 
 
 Osgood, Geo. P., 
 
 64. 
 
 V 
 
 P 
 
 
 Vaile, Byron, 63. 
 
 W 
 
 Q 
 
 
 Warren, F. E., 65. 
 Welch & Dow, 66. 
 
 R 
 
 Reed, F. M., 64. 
 Richardson, R., 67. 
 
 X, Y, Z 
 
132 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 LEDGER. 
 
 H. G. FULLER. 
 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 
 
 
 
 
 
 Oct. 
 
 1 
 
 J. 
 C. B. 
 
 50 
 30 
 
 3363 
 
 2636 
 
 6 
 
 47 
 53 
 
 
 
 STUDENT. 
 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 
 
 
 
 
 
 Oct. 
 
 1 
 
 J. 
 C. B. 
 
 50 
 30 
 
 3363 
 
 2636 
 
 6 
 
 47 
 53 
 
 
 
 
 
 
 
 BILLS 
 
 RECEIVABLE 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Oct. 
 
 1 
 
 ?? 
 
 3 
 5 
 
 10 
 
 J. 
 « 
 
 50 
 
 a 
 it 
 
 51 
 
 £( 
 {t 
 
 300 
 500 
 3000 
 500 
 81 
 300 
 
 4«81 
 
 75 
 
 7S 
 
 Oct. 
 
 10 
 
 C. B. 
 
 30 
 
 3800 
 
 
 INTEREST. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Oct. 
 
 1 
 
 J. 
 
 50 
 
 7 
 
 33 
 
 Oct. 
 
 1 
 
 J. 
 
 50 
 
 8 
 
 50 
 
 
 99 
 
 <i 
 
 ii 
 
 30 
 
 
 
 4 
 
 C. B. 
 
 30 
 
 81 
 
 50 
 
 
 9 
 
 C. B. 
 
 30 
 
 9 
 
 40 
 
 30 
 
 13 
 
 
 
 
 (( 
 
 it 
 
 7 
 
 * 7 
 
 75 
 
 ,5 
 
 COWLES & HUTCHINGS, Olean. 
 
 188- 
 Oct. 
 
 J. 
 
 50 
 
 _ 2556 
 
 14 
 
 188- 
 Oct. 
 
 i 
 
 9 
 
 51 
 
 100 
 
 
 
 
 W. & E, 
 
 MORGAN 
 
 , c 
 
 ty- 
 
 
 
 
 
 188- 
 Oct. 
 
 1 
 
 J. 
 
 50 
 
 2014 
 
 66 
 
 188- 
 Oct. 
 
 3 
 
 10 
 
 
 J. 
 
 51 
 
 500 
 
 300 
 
 8 
 
 
 BILLS PAYABLE. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Oct. 
 
 9 
 
 C. B. 
 
 30 
 
 000 
 
 
 Oct. 
 
 1 
 4 
 
 8 
 
 J. 
 
 (( 
 6( 
 
 50 
 51 
 
 600 
 100 
 812 
 
 1513 
 
 34 
 
 34 
 
 S. W, SID DONS, City. 
 
 188- 
 Oct. 
 
 C. B. 
 
 30 
 
 107 
 
 44 
 
 188- 
 Oct. 
 
 1 
 
 50 
 
 307 
 
 44 
 
 LORRAIN MFG. CO., NewYoik. 
 
 188- 
 Oct. 
 
 0. B. 
 
 30 
 
 100 
 
 
 188- 
 Oct. 
 
 1 
 
 J. 
 
 50 
 
 490 
 
 25 
 
THEOKETIOAL ANB PEACTICAL BOOK-KEEPING. 
 
 BROWN BRO'S & SEAVER, Eastport. 
 
 133 
 
 188- 
 Oct. 
 
 
 
 
 
 188- 
 
 
 J. 
 
 51 
 
 100 
 
 
 Oct. 
 
 1 
 
 a 
 
 ii 
 
 100 
 
 300 
 
 
 
 
 50 
 
 275 
 
 BYRON VAILE, Toromo. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 
 Oct. 
 
 3 
 
 0. B. 
 
 30 
 
 G12 
 
 25 
 
 Oct. 
 
 2 
 10 
 
 Inv. Oct. 1, 60 ds. 
 
 '•• " 7, " 
 
 J. 
 
 ii 
 
 51 
 
 ii 
 
 612 
 376 
 »»» 
 
 25 
 
 88 
 
 13 
 
 SCOVELL, HODGES & CO., New York. 
 
 188- 
 Oct. 
 
 J. 
 
 51 
 
 812 
 
 34 
 
 188- 
 Oct. 
 
 4 
 
 Iiiv. Oct. 2, 15 ds. J. 
 
 51 
 
 812 
 
 34 
 
 F. M. REED, Boston. 
 
 188- 
 Oct. 
 
 10 
 
 C. B. 
 
 30 
 
 1540 
 
 71 
 
 188- 
 Oct. 
 
 5 
 
 Inv. Oct. 3, 90 ds. J. 
 
 51 
 
 1540 
 
 71 
 
 B. N. ACHARD, Scipio. 
 
 188- 
 Oct. 
 
 S. B. 21 
 
 81 
 
 75 
 
 188- 
 Oct. 
 
 J. 
 
 51 
 
 81 
 
 75 
 
 HOPKINS & WEEKS, Baltimore. 
 
 
 
 
 188- 
 Oct. 
 
 i 
 
 luv. Oct. 4, 60 ds. J. 
 
 51 
 
 1316 
 
 70 
 
 GEO. P. OSGOOD, Chicago. 
 
 
 
 
 188- 
 Oct. 
 
 9 
 
 Inv. Oct. 7, 30 ds. J. 
 
 51 
 
 216 50 
 
 MERCHANDISE. 
 
 188- 
 
 
 
 
 
 
 188- 
 
 
 
 Oct. 
 
 10 
 
 J. 
 
 51 
 
 4875 
 
 38 
 
 Oct. 
 
 10 
 
 
 S. B. 
 
 22 
 
 712 
 
 31 
 
 C. B. 
 
 30 
 
 230 
 
 89 
 
 
 
 g 4 3 
 
 30 
 
 FRANK GOODSPEED. Waverly. 
 
 188- 
 Oct. 
 
 45 ds. 
 
 
 
 
 1 
 
 188- 
 
 
 S. B. 
 
 20 
 
 26 
 
 50 
 
 Oct. 
 
 8 
 
 ii 
 
 21 
 
 268 
 
 30 4 
 
 25 
 
 7 5 
 
 
 
 C. B. 
 
 30 
 
 26 
 
 50 
 
 F. E. WARREN, New Rochelle. 
 
 188- 
 Oct. 
 
 S. B. 
 
 20 
 
 129 
 
 51 
 
 
 
 LARKIN &. SPRONG, Groveland. 
 
 188- 
 Oct. 
 
 30 ds. 
 
 
 
 
 
 188- 
 
 
 S. B. 
 
 20 
 
 30 
 
 
 Oct. 
 
 10 
 
 ii 
 
 21 
 
 52 
 
 83 
 
 20 
 
 3 
 
 
 
 C. B. 
 
 30 
 
 30 
 
134 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 WELCH & DOW, Fairport. 
 
 188- 
 Oct. 
 
 
 
 
 
 188- 
 
 
 S. B. 
 
 22 
 
 30 
 
 
 Oct. 
 
 5 
 
 a 
 
 ii 
 
 94 
 
 124 
 
 10 
 1 
 
 
 
 C. B. 
 
 30 
 
 30 
 
 DISCOUNT. 
 
 188- 
 Oct. 
 
 10 
 
 C. B. 
 
 30 
 
 188- 
 83 II Oct. 
 
 EXPENSE. 
 
 10 
 
 C. B. 
 
 30 
 
 69 
 
 13 
 
 188- 
 Oct. 
 
 10 
 
 C. B. 
 
 30 
 
 379 
 
 25 
 CASH. 
 
 188- 
 Oct. 
 
 10 
 
 C. B. 
 
 30 
 
 6149 
 
 05 
 
 It is customary in business to post the items from the various books every day, and after posting 
 to review the work, re-examining and re-checking every entry, to detect any error which may have 
 been made in the work, and to avoid if possible a "refractory" trial balance at the end of the month. 
 
 The following plan is sometimes substituted for the re-checking process, and proves very effective, 
 especially where the book-keeper is provided with an assistant: 
 
 A sheet of paper or card, called a "Check Sheet," or "Check Card," of about foolscap size, ruled 
 in narrow columns, is provided for each book from which posting is to be done. Before the work of 
 posting begins, the assistant enters from the Index the Ledger folio against each amount which is to 
 be posted. He then finds the account in the Ledger, and the book-keeper, after observing that he has 
 turned to the rights account, ])osts the entry, checking it thus \/ in the book from which it was posted. 
 After checking the entry, he takes a second look at the amount as it stands in the Ledger, and, while 
 the assistant is finding the next account, he enters it upon the Check Sheet corresponding with the 
 book from which it was posted. At the end of the day the footings of the several sheets and the 
 footings of the corresponding books must of course agree. 
 
 The above plan is almost an absolute check upon omissions, upon a triiiisposition of figures and 
 upon posting to the wrong account. 
 
 The illustrations given below represent the Check Sheets of the Journal, Sales Book and Cash 
 Book for the previous ten days' posting. 
 
 JOURNAL DEBIT 
 
 1 
 
 JOURNAL 
 
 CREDIT 1 
 
 CHECK SHEET. 
 
 CHECK SHEET. 
 
 300 
 
 
 
 
 3363 
 
 47 
 
 15177 
 
 eo 
 
 500 
 
 
 
 
 600 
 
 
 
 
 7 
 
 33 
 
 
 
 8 
 
 50 
 
 
 
 2556 
 
 14 
 
 
 
 307 
 
 44 
 
 
 
 3000 
 
 
 
 
 490 
 
 25 
 
 
 
 30 
 
 
 
 
 275 
 
 
 
 
 2014 
 
 66 
 
 
 
 3363 
 
 47 
 
 
 
 500 
 
 
 
 
 612 
 
 25 
 
 
 
 100 
 
 
 
 
 500 
 
 
 
 
 81 
 
 75 
 
 
 
 812 
 
 34 
 
 
 
 812 
 
 34 
 
 
 
 100 
 
 
 
 
 100 
 
 
 
 
 1540 
 
 71 
 
 
 
 300 
 
 
 
 
 81 
 
 75 
 
 
 
 10 303 
 
 39 
 
 
 
 1316 
 812 
 216 
 100 
 376 
 300 
 
 70 
 34 
 50 
 
 88 
 <• 
 
 
 
 SALES BOOK DEBIT 
 CHECK SHEET. 
 
 26 
 129 
 30 
 81 
 52 
 30 
 268 
 94 
 
 71 3 
 
 CASH DEBIT 
 CHECK SHEET. 
 
 2636 
 
 2636 
 
 31 
 
 30 
 
 7 
 26 
 30 
 
 5398 
 
 CASH CREDIT 
 CHECK SHEET. 
 
 100 
 612 
 107 
 600 
 9 
 1540 
 
 39 69 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 CONTINUED TRIAL BALANCE. 
 
 135 
 
 Folio. 
 
 
 October 10. 
 
 October 20. 
 
 October 31. 
 
 01 
 
 H. G. Fuller, 
 
 
 
 6000 
 
 
 300 
 
 
 7000 
 
 
 
 
 
 
 
 01 
 
 Student, 
 
 
 
 6000 
 
 
 500 
 
 
 6000 
 
 
 
 — 
 
 
 
 01 
 
 Bills Keceivable, 
 
 4681 
 
 75 
 
 3800 
 
 
 5417 
 
 25 
 
 4381 
 
 75 
 
 6917 
 
 25 
 
 5667 
 
 25 
 
 01 
 
 Interest, 
 
 40 
 
 03 
 
 47 
 
 75 
 
 46 
 
 63 
 
 47 
 
 75 
 
 53 
 
 63 
 
 50 
 
 08 
 
 62 
 
 Cowles & Hutchings, 
 
 2550 
 
 14 
 
 100 
 
 
 2556 
 
 14 
 
 700 
 
 
 
 
 
 
 03 
 
 W. & E. Morgan, 
 
 2014 
 
 60 
 
 800 
 
 
 2014 
 
 66 
 
 • 800 
 
 
 
 
 
 
 62 
 
 Bills Payable, 
 S. W. Siddons, 
 
 000 
 
 
 1512 
 
 34 
 
 700 
 
 
 1612 
 
 34 
 
 
 
 
 
 02 
 
 107 
 
 44 
 
 307 
 
 44 
 
 107 
 
 44 
 
 307 
 
 44 
 
 
 — 
 
 
 . — 
 
 
 Lorrain Mfg. Co. 
 
 100 
 
 
 490 
 
 25 
 
 290 
 
 25 
 
 490 
 
 25 
 
 
 
 
 
 
 Brown Bro's & Seaver, 
 
 200 
 
 
 275 
 
 
 200 
 
 
 275 
 
 
 
 
 
 
 
 Byron Vaile, 
 
 012 
 
 25 
 
 989 
 
 13 
 
 
 
 
 
 
 — • 
 
 
 — 
 
 
 Scovell, Hodges & Co. 
 
 
 
 
 
 812 
 
 34 
 
 948 
 
 61 
 
 
 
 
 
 
 P. M. Keed, 
 
 
 
 
 
 1540 
 
 71 
 
 2781 
 
 65 
 
 
 
 
 
 
 Hopkins & Weeks, 
 
 
 
 1316 
 
 70 
 
 
 
 
 
 
 — ■ 
 
 
 .._ 
 
 
 Geo. P. Osgood, 
 
 
 
 216 
 
 50 
 
 216 
 
 50 
 
 677 
 
 25 
 
 
 — 
 
 
 — 
 
 
 Merchandise, 
 
 4875 
 
 38 
 
 943 
 
 20 
 
 7390 
 
 39 
 
 2475 
 
 89 
 
 11503 
 
 22 
 
 4490 
 
 64 
 
 
 Frank Goodspoed, 
 
 294 
 
 75 
 
 26 
 
 50 
 
 386 
 
 
 294 
 
 75 
 
 
 — 
 
 
 
 
 F. E. Warren, 
 
 129 
 
 51 
 
 
 
 217 
 
 01 
 
 129 
 
 51 
 
 
 
 
 
 
 Larkin & Sprong, 
 
 82 
 
 20 
 
 30 
 
 
 197 
 
 95 
 
 82 
 
 20 
 
 
 — 
 
 
 — ■ 
 
 
 B. N. Achard, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Welch & Dow, 
 
 124 
 
 10 
 
 30 
 
 
 
 
 
 
 
 
 
 
 
 Discount, 
 
 
 83 
 
 69 
 
 13 
 
 8 
 
 90 
 
 136 
 
 32 
 
 28 
 
 78 
 
 331 
 
 88 
 
 
 Expense, 
 
 379 
 
 25 
 
 
 
 479 
 
 
 
 
 577 
 
 96 
 
 
 
 
 Cash, 
 
 6149 
 
 05 
 
 
 
 6149 
 
 05 
 
 262 
 
 86 
 
 6661 
 
 32 
 
 202 
 
 86 
 
 
 Hood & Meyers, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 S. M. Smith, 
 
 
 
 
 
 82 
 
 
 
 
 
 — 
 
 
 
 
 Hackett & Brisbain, 
 
 
 
 
 
 218 
 
 75 
 
 
 
 
 — 
 
 
 — 
 
 
 R. Richardson, 
 
 
 
 
 
 121 
 
 
 50 
 
 
 
 
 
 
 
 Tildeu & Breme, 
 
 
 
 
 
 
 
 498 
 
 40 
 
 
 
 
 
 
 M. M. Eaton, 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Wm. Gardner, 
 
 
 
 
 
 
 
 
 
 
 — 
 
 
 — 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 STATEMENT OCTOBER 31, 188- 
 
 RESOURCES. 
 
 Bills Receivable, ,- 1250 00 
 
 Mdse. Inventory, 7968 33 
 
 Expense " 200 00 
 
 Cash, 6398 46 
 
 Personal Accounts, _ 640 80 
 
 16457 59 
 
 LIABILITIES. 
 
 Personal Accounts, 3474 41 
 
 Fuller's Net Investment, 6701 42 
 
 " i Net Gain, 39167 
 
 " Present Worth, 7093 09 
 
 Student's Net Investment, 5498 43 
 
 i Net Gain, 391 67 
 
 " Present Wortli, 5890 09 
 
 16457 59 
 
136 THEORETICAL AND PRACTICAL BOOK-KEEPIKG. 
 
 OCTOBER, 188-. 
 
 1. H. G. Fuller and Student form a co-partnorship this day, under the firm name of Fuller & Student, 
 
 to engage in the wholesale business of Wooden Ware and Grocers' Sundries. 
 The Co-jjartnership articles this day executed, provide that each partner shall devote his entire 
 time to the business; that the gains and losses shall be divided equally, and that an Interest 
 account shall be kept between the partners. 
 
 Note. — Make the above as a memorandum in your Journal. 
 
 H. G. Fuller's investment: Cash paid in, 3636.53 (C B.); D. G. Carter's note, dated September 
 5 last, at 30 days, payable at City Bank, 300.00 {J. and B. B.); Hawley & Co.'s note dated July 
 5 last, at 90 days, payable at First National Bank, with interest, 500.00 {J. and B. B.); Interest 
 accrued to date on H. & Co.'s note (/.); Cowles & Hutchings, Glean, owe on account, 
 2556.14 {J.). 
 
 Note. — While it is expected that you will be obliged to refer occasionally to the forms as Indicated in the transac- 
 tions by the initial letters: J. Journal, 8. B. Sales Book, Ck. B. Check Book, C. B. Cash Book, and B. B. Bill 
 Book, it is desirable that you do so only when necessary, performing the work as much as possible from the 
 memoranda, aided by the explanations for the various books given on page 137. In every case decide how you 
 think the entry should be made before consulting the forms. 
 
 Student's investment: On deposit in College Bank, to the credit of the firm, 2636.53 (C B. and 
 Ck. B. See note Mow) ; E. B. Leighton's note dated August 2nd last, at 60 days, indorsed 
 by W. D. Soules, payable at Traders' Bank, with interest, 3000. OO {J. and B. B.); Interest 
 accrued to date on above note (J.); W. & E. Morgan, city, owe on account, 2014.66 (/.). 
 
 Note. — In the absence of a Check Book, a form for the Check Book Stub may be ruled on a sheet of foolscap paper. 
 
 Student's liabilities: Note favor Giles P. Fulton, dated July 8 last, at 90 days, payable at College 
 Bank, with interest, 600.00 {J. and B. B.); Interest accrued to date (/.); due the following 
 firms on account: S. W. Siddons, city, 307.44; Lorrain Manufacturing Co., New York, 
 490.25; Brown Bros. & Seaver, Eastport, 275.00 (J.). • 
 
 2. Buy for cash. Office Safe, 200.00; Office Books, 37.50. (C. B.) 
 Deposit in College Bank, cash, 2000.00. {Ck. B.) 
 
 Note. — No entry is made in the Cash Book for the reason explained 23-34 page 127. ' 
 
 Eeceive Mdse. from Byron Vaile, Toronto, as per Invoice October 1, on 60 days, 5^ off in 10 days, 
 612.25. {J.) 
 
 Note. — See Business Forms on last pages of text book, for illustration of letter ordering the above invoice, also see 
 explanations 4-7, page 127. 
 
 Sales for cash, per drawer, 95.48. (C. E.) 
 
 3. Pay Lorrain Mfg. Co. cash on ajc, 100.00. {C. B.^ 
 
 Pay Wm. Strong rent of store one month in advance, by your check on College Bank, 125.00. ( C. 
 B.andCk.B.) 
 Note. — See expiations 25, page 127. 
 
 Sell Frank Goodspeed, Waverly, 1 doz. No. 1 Oval Chopping Trays, @ 5.00; 2 Glass Cheese Safes, 
 @ 4.50; 10 nests F. Pails, @ 1.25. [S. B.) 
 
 Note. — All sales on 60 days time unless otherwise noted. 
 
 Sell F. E. Warren, New Eochelle, 3 doz. Novelty D. Z. Washboards, @ 2.50; 5 doz. Eagle S. Z. 
 Washboards, @ 1.75; 5 M No. 4 Paper Bags, @ 1.75, less 10^; 3 doz. 13 inch Butter Bowls, 
 @ 1.75; 4 doz. Cov. W. D. Baskets, @ 2.50; 2 doz. 0. C. Trays No. 2, @ 5.00; 1^ doz. No. 
 10 Featlier Dusters, @ 20.00 and 1 doz. No. 12, @ 26.50, less 25 and 10^; 10 gro. Gates' 
 Matches, @ 2.70; 6 Broom Racks, @ 2.50. (*S'. B.) 
 
 Note. — See Business Forms on last pages of the text book for illustration of above invoice. 
 
 Receive of W. & E. Morgan their note at 10 days, payable at Traders' Bank, on "jc, 500.00. {J. and 
 B. B.) 
 
 Note. — Care must be exercised in making the entries in the Journal and Cash Book, or errors will be made by 
 placing amounts in the wrong columns. 
 
*rHEOBETICAL AND PKACTIOAL BOOK-KEEPIN(J, l^T 
 
 3. Buy a New York draft at i^ exchange, and remit to Byron Vaile for Invoice September 30, 612.25, 
 
 less 5^. Give your check on*College Bank to cover the draft and exchange. (C. B. and 
 Ck. B.) 
 
 Note. — See Business Forms on last pages of the text book for illustration of letter accompanying tlie above remit- 
 tance. 
 
 Sell Larkin & Sprong, Groveland, 30 days, 2 doz. Wood Shovels, @ 7.50; 25 lbs. Cotton Twine, 
 @ 24c.; 2 doz. No. 3 Wood Scoops, @ 4.50. {S. B.) 
 
 4. Pay S. W. Siddons, cash on ojc, 107.44. {C. B.) 
 
 Eeceive Mdse. from Scovell, Ilodges & Co., New York, per Invoice, October 2. on 15 days. 
 
 812.34. [J.) 
 Eeceive cash for a note due to-day. (C. B. and B. B. ) 
 Deposit cash in College Bank, 2500.00. {Ck. B.) 
 Sales for cash, per drawer, 21.19. (0. B.f 
 Give Brown Bros. & Seaver your note at 10 days, payable at College Bank, on '^c, 100.00. (<7. and 
 
 B.B.) 
 
 5. Receive Mdse. from P. M. Reed, Boston, per Invoice October 3, on 90 days, 1540.71. (/.) 
 Sales for cash, per drawer, 62.10. (C. B.) 
 
 Sell B. N. Achard, Scipio, on his note at 10 days, payable at College Bank, 10 doz. 2-Hoop Pails, 
 @ 2.00; 3 doz. Heavy Hoop Tubs, @ 8.75; 2 doz. Com. Hoop Tubs, @ 8.50; 3 doz. Clothes 
 Pounders, @ 2.00; 10 doz. Rolling Pins, @ 1.25. {S. B., J. and B. B.) 
 
 Note. — Bills Receivable instead of Achard might have been debited in the Sales Book, and then no Journal entry 
 would have been required. As now made the entries could be cliecked in both Sales Book and Journal 
 to obviate the necessity of opening an account with Achard in the Ledger. If. as in this case, however, 
 it is desired to know at the end of the year the amount of goods sold to a customer, it is better to open an 
 account with him and post all bills, even though paid for at the time of purchase. 
 
 Sell Larkin & Sprong, 30 days, 12 doz. Royal Shoe Dressing, @ 1.00; 4 gro. Dixon's Stove Polish, 
 
 @ 6.00; 3 doz. qts. University Ink. @ 6.00, 10^ off. {S. B.) 
 Sell Welch & Dow, Fairport, for cash, 6 gro. Washing Crystal, @ 2.75; 50 boxes Crayon, @ 7c.; 
 
 25 gro. No. 2 Kerosene Wick, @ 40c. {8. B. and C. B.) 
 
 Note. — See note under sale to B. N. Achard, above. 
 
 6. Eeceive cash for a note due to-day. {0. B. and B. B.) 
 
 7. Eeceive Mdse. from Hopkins & Weeks, Baltimore, per Invoice October 4, on 60 days, 1316.70. (J.) 
 
 8. Eeceive from Frank Goodspeed, a draft on New York for Invoice 3d inst., 26.50, less 2^. (C. B.) 
 Sales for cash, jier drawer, 52.12. {C. B.) 
 
 Eeceive cash for a note due to-day. (C. B. and B. B.) 
 
 Sell Frank Goodspeed, on 45 days, 3 doz. N. C. Wringers, @ 45.00; 3 doz. Wood Shovels, @ 7.50; 
 5 doz. H. H. Tubs, @ 8.75; 2 Oil Tanks, @ 16.00, less 25<^; 4 doz. Bushel Baskets, Oak, @ 
 7.50; 3 doz. Horse Brushes, @ 6.00; 5 gro. Kinning's Bluing, @ 8.00. 
 
 Note. — Write up this invoice on foolscap paper. See Business Forms on last pages of text book for illustration. 
 
 Give Scovell, Hodges & Co. your note at 10 days, payable at College Bank, for Invoice October 2, 
 812.34. 
 
 9. Eeceive Mdse. from Geo. P. Osgood, Chicago, per Invoice October 7, 30 days, 216.50. 
 
 Your note due at College Bank, has been charged to your account. (C. B., B. B and Ck. B.) 
 Sell Welch & Dow, 4 doz. qts. University Ink, @ 6.00, less 10 ^; 4 doz. II. H. Tubs, @ 8.75; 5 
 
 doz. W. Shovels, @ 7.50. 
 Draw a draft on Cowles & Hutchings, Eastport, at 30 days sight, and remit it to Brown Bros. & 
 
 Seaver, on % 100.00. (J.) 
 10. Eeceive from Larkin & Sprong, cash for Invoice October 3d, 30.00, less 1%. {C. B.) 
 Deposit cash in College Bank, 500.00. (Ck. B.) 
 
 Eeceive Mdse. from Byron Vaile, per Invoice October 7, on 60 days, 376.88. 
 Give F. M. Reed your check on College Bank for Invoice October 3, 1540.71, loss 2^;^. (6'. B. 
 
 and Ck. B.) 
 Pay cash for Coal, for Office use, 15.30. 
 Eeceive of W. & E. Morgan, their note at 10 days, payable at Traders' Bank, to apply on ^, 
 
 300.00. (J. and B. B.) 
 
138 THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 You may now post the entries for the foregoing ten days' business. See explanations and illustra- 
 tions on page 134 for using check sheets. Give each accouni^one-fourth of a page space. First post 
 from the Journal. See 4 to 8, page 127, for instructions. See also the Journal form on page 128, 
 showing the columns footed and ruled. Use the Ledger folio to check the posting. The pages of 
 your books will not, of course, correspond with those given in the forms. After opening an account in 
 the Ledger, place the title in the index, together with the number of the page iipon which it is opened. 
 See illustration on page 131, also see explanations on page 127. Next post from the Sales Book; see 
 13-15, page 127. See also form of Sales Book on page 129, showing the Mdse. column footed and ruled. 
 
 Balance and prove the cash before commencing to post from the Cash Book. For instructions, see 
 34-37 page 127. See form of Cash Book on pages 130 and 131, showing the manner of footing 
 and ruling the columns, and bringing down the balance of cash on hand. Cash in Safe, 1332.10; 
 Balance in Bank, shown by Check Book Stub, page 130, 4816.95. 
 
 After you have completed the posting, your Ledger should correspond with the one given on pages 
 132-3-4. Next take a trial balance, using the Continued Trial Balance form as illustrated on page 
 135. See 40-41 page 127. If no such form is provided in your Trial Balance book, you may rule 
 one. The Ledger titles are all to be entered in the trial balance; but those which balance need not be 
 extended. The footings of the columns are not given in the form; you are to foot and prove 
 them, however, as heretofore. You need not rule up any of the personal accounts, even when 
 settled in full, but continue the pencil footings until the end of the month, in order that the footing 
 of each person's account in the Ledger may show the entire amount of goods bought of or sold to him 
 during that period. Business men frequently carry out this plan through an entire year's business. 
 
 After completing the trial balance, continue the work in the same manner as in the preceding ten 
 days' business. 
 
 Write up the business forms wherever called for by the Memoranda, and take particular pains with 
 the penmanship, spelling and general appearance of these documents. 
 
 OCTOBER 1 se- 
 ll. Sales for cash per drawer, 65.30. 
 
 Deposit cash in College Bank, 400.00. 
 
 12. Sell M. M. Eaton, Seneca, on his note at 15 days, payable at Farmers' Bank, G doz. C. Brooms, @ 
 
 3.00; 2 doz. C. Trays, @ 5.00; 2 doz. N. D. Z. Washboards, @ 2.-50; 10 doz. U. Ink, @ G.OO 
 less 12^^. (,S'. B., J. and B. B.) 
 
 13. Student draws for private use by check on College Bank, 500.00. (C. B. atui Ok. B.) 
 
 14. Received from Frank Goodspeed cash for Invoice Oct. 8, 268.25, less 1^^. 
 Leave M. M. Eaton's note at College Bank for collection. {B. B.) 
 
 Note. — In the column in the Bill Book headed " When and How Disposed of," say " Oct. 14, left at College Bank 
 for collection." 
 
 Receive from Scovell, Hodges & Co. Mdse. per Invoice Oct. 9, at 15 days, 136.27. 
 
 Sell F. E. Warren 3 doz. Willow Clothes Baskets, @ 9.00; 4 doz. Willow Market Baskets, @ 3.50: 
 
 5 doz. Cherry Knife Trays, @ 4.50; 3 M Crown Butter Dishes, @ 10.00, less 20 ^. 
 Sell Frank Goodspeed 5 doz. H. H. Tubs, @ 8.75; 3 doz. Bush. Baskets, Oak, @ 7.50; 20 Nests 
 
 F. Pails, @ 1.25. 
 
 15. Give Lorrain Mfg. Co. your check on College Bank, on °jc, 90.25. 
 
 Accept Lorrain Mfg. Co.'s draft on you at 10 days sight, payable at College Bank, favor of D. 
 
 Leary, to apply on °jc, 100. {J. and B. B. ) 
 Pay cash for Postage, 2. 75. 
 Buy of Hood & Meyers, City, on 60 days, Mdse. per Invoice Oct. 15, 178.65. 
 
 16. Sales for cash per drawer, 136.15. 
 
 Give Hopkins & Weeks your check on College Bank, for Invoice Oct- 7, 1316.70, less 2^5^. 
 Sell S. M. Smith, City, on ten days, 10 gro. Lead Pencils, @ 1.00; 5 doz. Cotton Clothes Lines, 
 @ 2.00; 10 doz. P. B. Dishes, @ 5.50, less 20;;^; 1^ doz. Feather Dusters, @ 20.00, less 40^. 
 Receive from Geo. P. Osgood, Mdse. per Invoice Oct. 12, 30 days, 460.75. 
 Receive of Larkin & Sprong, cash for Invoice Oct. 5, 52.20, less 1$^. 
 Receive cash for a note due to-day. 
 Deposit cash in College Bank, 1500.00. 
 H. G. Fuller draws for private use by check on College Bank, 300.00. 
 
*rHEOKETlCAL AND PRACTICAL BOOK-KEKPtNG. 139 
 
 17. Remit Geo. P. Osgood your certified check on College Bank, for Invoice Oct. 7, 216.50, less 3^. 
 KoTE. — Write up this clieck on foolscap paper. See Business Forms, on last pages of text book, for certified check. 
 
 Sell Larkin & Sprong 2 doz. No. 10 F. Dusters, @ 20.00, less 3.") and 10^; 5 doz. H. H. Tubs, @ 
 
 8.75; G doz. B. Baskets, @ 7.50. 
 Sales per cash drawer, 162.50. 
 Receive from Cowles & Hutchings their note at 5 days, payable at Exchange Bank, to apply on "jc. 
 
 600.00. 
 Sell Hackett & Brisbain, Clinton, 3 doz. N. D. Z. Washboards, @ 2.60; 5 doz. C. K. Trays, @ 
 
 4.50; 10 doz. B. Brooms, @ 2.00; 5 doz. II. H. Tubs, @ 8.75; 10 gro. U. Ink, @ 6.00, less 
 
 10^; 6 doz. B. Baskets, @ 7.50; 2 doz. No. 10 F. Dusters, @ 20.00, less 35<^. 
 Receive from F. E. Warren a draft on New York for Invoice Oct. 3, 129.51, less 2^^. 
 Your note due to-day at College Bank, charged to your ofc. 
 
 18. Pay Clerks' salaries in full to date, in cash, 87.75. 
 Deposit in College Bank, cash, 400.00. 
 
 Give Hood & Meyers your check on College Bank for Invoice Oct. 15, 178.65, less 5^. 
 
 H. G. Fuller makes an additional cash investment of 1000.00. 
 
 Receive Mdse. from F. M. Reed per Invoice Oct. 14, on 90 days, 1240.04. 
 
 Sell Ralph Richardson, Oneida, 20 gro. G. Matches, @ 2.70; 4 doz. 12 inch B. Bowls, @ 1.75; 6 
 doz. N. D. Z. Washboards, @ 2.50; 2 doz. No. 1 0. C. Trays, @ 5.00; 4 doz. 11. II. Tubs, @ 
 8.75. Receive his note at 10 days, payable at College Bank, 50.00; balance on ^c, 60 days. 
 {S. B., J. and B. B.) 
 
 Note. — Richardson being debited in the Sales Book 131.00, and credited in the Journal .50.00, when these entries shall 
 have been posted, the difference in his account will show the balance still due. 
 
 Receive cash for a note due to-day. 
 Sales per cash drawer, 228. 79. 
 
 19. Receive cash from Welch & Dow for Invoice Oct. 9, 94.10, less 1^. 
 
 Sell Wm. Gardner, for casli, 3i doz. Maud S. Halters, @ 7.50; 4 doz. Curry Combs, @ 1.50; 2 
 I doz. Gurry Cards, @ 1.25; 2J doz. Horse Brushes, @ 6.00. 
 
 30. Receive Mdse. from Tilden & Breme, Oswego, per Invoice Oct. 17, on 60 days, 498.40. 
 
 Deposit Cash in College Bank, 1000.00. 
 
 Sales per cash drawer, 88.45. 
 
 Buy for cash, a New York draft at \^ exchange, and remit to Byron Vaile for Invoice Oct. 7, 
 376.88, less 5^. 
 
 Pay cash for cartage, 8.35. 
 
 You may now balance the Cash Book. The footings of the columns on the debit side of the Cash 
 Book should be as follows: Sundries, 7742.86; Mdse., 681.19; Bills Receivable, 581.75; Discount, 
 67.19. On the credit side Sundries, 3078.98; Expense, 99.75; Discount, 8.07. Prove the cash; see 
 34-37, page 127. In Safe, 422.99; in Bank, as shown by Check Book, 5463.20. 
 
 Next post and take a trial balance, in accordance with the directions given at the end of the first 
 ten days' business on pages 134 and 138. In posting to Cash account, enter on the credit side 262.86, the 
 payments of cash having exceeded the receipts by that amount since the last posting. See 31-33, 
 page 127. 
 
 Remember to place all new accounts in the Index as soon as opened in the Ledger. Add new 
 accounts to the trial balance, as shown on page 135. 
 
 After completing the trial balance, continue the work as before. 
 
 OCTOBER, 188-. 
 
 21. Accept Lorrain Manufacturing Co.'s draft on you in favor of themselves, at 1 day sight, payable 
 at College Bank, 100.00. 
 Deposit cash in College Bank, 200.00. 
 Sell Frank Goodspeed, 1 gro. Tytler's Axle Grease, @ 9.00; 3 gro. K. Bluing, @ 8.00; lOc Grain 
 
 Bags, @ 22c. ea. ; 2 M No. 4 Paper B. Dishes, @ 5.50, less 30^. 
 Your note due to-day charged in at College Bank. 
 
140 THEORETICAL AND PKAOTICAL BOOK-KEEPING. 
 
 22. Receive Mdse from Byron Vaile per Invoice Oct. 19th, on 90 days, 975.00. 
 
 Receive of W. & E. Morgan their note at GO days, endorsed by Thos Field, payable at Traders' 
 Bank, on % 600.00. 
 
 Note. — Draw up this note on foolscap paper. See Business Forms on last pages, for illustration of note with 
 Endorser. 
 
 Receive of S. M. Smith, his cheek on Flower City Bank, in payment of Invoice Oct. 10, 82.00. 
 Sales for cash, per drawer, 209. 14. 
 
 23. Sell S. M. Smith, 4 doz. Mouse Traps, @ 50c.; 6 doz. Taylor Mops, @ 1.50; ^ doz. Novelty C. 
 
 Wringers, @ 45.00; ^ doz. No. 14 F. Dusters, @ 30.00, less 25 and 10^. 
 Receive cash for a note due to-day. 
 Receive F. E. Warren's check on Farmers' Bank, New Rochelle, for Invoice Oct. 14, 87.50, less 
 
 2^. 
 Hackott & Brisbain return for credit 2 doz. F. Dusters from Invoice 17th inst. 
 
 24. Remit Scovell, Hodges & Co. a New York draft, which you will purchase by check on College 
 
 Bank, ?it\^ exchange, in payment of Invoice Oct. 9, 136.27, less 2^^. 
 
 Note. — Write the above draft on foolscap paper, and procure from the teacher blank letter sheet and envelope, and 
 write to Scovell, Hodges & Co., enclosing the above remittance. See page 77, also Business Forms on last pages 
 of text book for illustrations. In folding the letter, fold it first from the bottom to one-half its length, or as 
 far as is necessary to fit the length of the envelope, and then fold from the side to one-third its width, or as far as 
 is necessary to fit the width of the envelope. 
 
 Sales for cash, per drawer, 115.00. 
 
 Deposit in College Bank Currency, 500.00 and Warren's check, 85.75. The bank deducts 25c. 
 for collection of check. 
 
 25. Sell F. E. Warren 10 doz. C. Brooms, @ 3.50; 5 doz. H. II. Tubs, @ 8.75; 8 doz. C. K. Trays, 
 
 @ 4.50; 10 doz. qts. University Ink, @ 6.00, less 12^^; 5 doz. C. 0. Lines, @ 2.00; 10 doz. 
 
 B. Baskets, @ 7.50; 200 Grain Bags, @ 20 c. ea.; 1^ doz. No. 14 F. Dusters, @ 30.00, less 
 25 and 10^; 25 Nests F. Pails, @ 1.25; 5 doz. W. C. Baskets, @ 9.00. 
 
 Your acceptance due to-day, charged in at College Bank. 
 
 Receive Mdse. from Hopkins & Weeks per Invoice Oct. 20th, on 60 days, 1863.66. 
 Receive of Cowles & Hutchings their check on Exchange Bank, 200. QO, for payment on their note 
 of 600.00, due to-day. They renew the balance by giving a note at 30 days, with interest. 
 
 Note. — Credit Bills Receivable in Cash Book, 200. Enter the new note of 400.00 in Bill Book, and opposite old 
 note in Bill Book state how it was disposed of. 
 
 Memorandum : Procure from the teacher letter sheet and envelope, and write to Tilden & Breme, 
 Oswego, ordering the following Mdse. : 25 doz. No. 1 0. C. Trays, 25 doz. B. Baskets, 15 
 doz. Barrel Covers, 20 doz. H. H. Tubs, 20 doz. Com. II. Tubs, 5 doz. Novelty C. Wringers, 
 50 doz. "Gem" Paper Pails, 30 doz. "Queen" Paper Pails. {See Business Forms on last 
 pages for illustrations.) 
 
 27. Receive from F. Goodspeed cash for Invoice Oct. 14, 91.25, less 2^. 
 
 W. & E. Morgan present Lorrain Mfg. Co.'s sight draft on you for 100.00, which you pass to the 
 
 credit of their account. 
 Sales for cash, per drawer, 227.09. 
 Sell Italph Richardson 5 doz. N. D. Z. Washboards, @ 2.50; 10 doz. B. Brooms, % 2.00; 5 doz. 
 
 C. H. Tubs, @ 7.42; 1^ doz. No. 12 F. Dusters, @ 26.50, less 30 and 5^; 1 doz. Novelty C. 
 Wringers, @ 45.00; 50 Grain Bags, @ 22c. 
 
 Give S. W. Siddons your check on College Bank, to apply on '^c, 100.00. 
 
 Get W. & E. Morgan's note of 500.00, received 22d inst., discounted at College Bank; proceeds 
 placed to your credit. (C. B., Gk. B. and B. B.) 
 
 Note. — Debit Interest Account for the discount on the above note to avoid entering it in the discount column, which 
 is intended for the discount on prepayment of Invoices of Mdse. only. 
 
 Pay Gas Bill to date in cash, 5.40. 
 
 Receive Mdse. from Tilden & Breme per Invoice Oct. 26, on 60 days, 1248.17. 
 
 28. Receive from F. E. Warren a draft on New York for Invoice Oct. 25, 398.87, less 2^. 
 Sales for cash, per drawer, 74.25. 
 
THEOBETIOAL AND PBACTIOAL BOOK-KEKPING. 141 
 
 28. Deposit cash in College Bank, 1000.00. 
 
 Ecmit F. M. Rood a draft on Boston, which you will purchase at College Bank by check, at ^^ 
 
 exchange, in payment of Invoice Oct. 14, 1240.94, less 2^^. 
 Receive of Cowles & Hutchings to apply on their note of Oct. 35, cash, 200.00. 
 
 Note. — Draw up this note on foolscap paper, and make the proper indorsement. See Business Forms on last pages 
 for illustration of note with indorsement. 
 
 Your acceptancte due to-day, charged in at College Bank. 
 
 29. Sell Hackctt & Brisbain, 4 gro. D."S. Polish, @ 6.00; 3 doz. U. Ink, @ 6.00, less 10^; 12 doz. 
 
 R. S. Dressing, & 1.00. 
 Receive of Ralph Richardson cash for balance due on Invoices of Oct. 18 and Oct. 27, 223.03, 
 less 2 ^. 
 
 30. Sales for cash, per drawer, 319.32. 
 Deposit cash in College Bank, 450.00. 
 
 Sell Larkin & Sjiroug 10 doz. Paper Pails, @'5.50; 360 lbs. |-inch Manilla Rope, @ 16c.; 10 
 doz. Potato Mashers, @ 75c.; 5 Oil Tanks, @ 16.00, less 25^; 10 doz. Barrel Covers,® 
 5.00; 5 doz. Bush. Baskets, @ 7.50; 3 M Crown Butter Dishes, @ 6.00, less 20^; 4 doz. No. 
 10 F. Dusters, @ 20.00, less 35 and 10 and 5 ^. 
 
 31. Remit Tilden & Breme a draft on New York, which you will purchase at pollege Bank by check, 
 
 at :J-^ exchange, in payment of Invoices Oct. 17 and Oct. 26, 1746.57, less 3^ J^. 
 College Bank has collected Eaton's note due yesterday, and placed same to your credit less cost of 
 
 collection, 25c. 
 Receive of Cowles & Hutchings, to balance °fc, cash 856.14 and their note endorsed by D. W. 
 
 Powers, at 4 months, payable at Exchange Bank; with interest, 1000.00. 
 Receive cash of Hackett & Bnsbain for Invoice Oct. 17, 218.75, less Mdse. returned for credit 
 
 Oct. 23, 26.00, and 2 ^ of balance. 
 Receive cash of W. & E. Morgan, to balance °fc, 614.66. 
 Sell Wm. Garaner, 30 days, 3 doz. Curry Combs, @ 1.50; 4 doz. H. Brushes, @ 6.00; 2 doz. 
 
 Maud S. Halters, @ 7.50. 
 Pay clerks' salaries in full to date, 85.50. 
 Deposit cash in College Bank, 2000.00. 
 Make an entry for the interest upon the following transactions as provided for in the copartnership 
 
 agreement: H. G. Fuller drew for private use, Oct. 16, 300.00. Student drew for private 
 
 use, Oct. 12, 500.00. H. G. Fuller made an additional investment, Oct. 18, 1000.00. (/.)' 
 
 Note, — *• Debit each partner interest upon amounts drawn out by him from the time of such withdrawal to the time 
 of settlement, and credit him interest upon amounts invested by him from the time of such investment to the 
 time of settlement. " It is unneces.sary to compute interest upon the original investments when they are equal, 
 as in this case, because the interest balance to each partner's account would not be ailected thereby. 
 
 INVENTORIES, OCTOBER 31, 188-.. 
 
 MERCHANDISE— per Inventory Book, 7968 33 
 
 EXPENSE— Office Safe,.... 200 00 
 
 You may now prove the cash and balance the Cash Book. In Safe, 207.46; In Bank, 6131.00. 
 The* footings of the columns on the debit side of the Cash Book should be as follows: Sundries, 
 8432.39; Mdse, 944.80; Bills Receivable, 1285.50; Discount, 95.56. On the credit side. Sundries, 
 4240.95; Expense, 98.90; Discount, 19.88. 
 
 " It is customary, in business, to prove the cash every day, *hiot necessarily closing the Cash Book, 
 as the columns may be footed in pencil, and the proof taken upon a separate sheet. 
 
 After posting take a trial balance and make a statement giving the results of the business, as 
 shown in the form on page 135, after which close and rule up all the Ledger accounts. Before closing 
 the Mdse. account close Discount account into it. Discount is only kept here as a separate account to 
 enable us to determine the amount of allowances upon invoices prepaid. If this information were not 
 desired, Mdse. might be debited and credited for the allowances at the time of making them. 
 
142 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 126. — 'What is this set designed to illustrate? 'What advantages are derived from the 
 methods illustrated, and how obtained? 'For what purpose might it be necessary to change the forms 
 of books as here used, and how could the change be made? 
 
 Page 137. — 'What is the peculiar feature of the Journal as used in this set? ' In what way is 
 the combination of the two books effected? "Explain the use of the extra column. 'How is 
 it posted? *How are the items in the Sundries column posted? 'What disposition is made of the 
 Invoices? '»-"If pasted in an Invoice Book, how may this book be used? "Explain the use of the 
 Sales book. " AVhat disposition is made of the net amount of each sale? "What course is pursued 
 with the last column? ''How posted? "How may an additional advantage be secured from the 
 •Sales Book? "Explain the use of the Check Book. "Is it necessary to open a bank account in the 
 Ledger? ''What entry is made for a deposit? ™How does this debit the bank? "What entry is 
 made when a check is drawn? " IIow does this credit the bank? " Is an entry to be made in the Cash 
 Book when cash is deposited? " Why not? '^ When checks are drawn upon the bank, in what other 
 book beside the Check Book is the entry made? Why? "Explain the use of the Cash Book. " How 
 arranged? "^For what purpose? "How are the special columns posted? '"How are the items in the 
 Sundries columns posted? " How is the cash posted? " How posted if the balance of cash is less than 
 at the last posting? "How if more? "How is the total debit of cash found? ''The total credit? 
 '"What will the diilererice show? "How is the cash on hand found? ""How is the Bill Book to be 
 kept in this set? "Can it be kept as a principal book? Why is it not usually so kept? "What name is 
 given to the trial balance used in this set? *' What advantage is derived from its use? "Describe a 
 convenient form for a Ledger Index. " When the number of accounts is large, what form of Index i| 
 generally used? 
 
 Page 141. — "How frequently is the cash proved in business? ** How may it be proved without 
 closing the Cash Book? "How is the interest account between the partners adjusted? "When the 
 original investments are equal why is it unnecessary to compute interest upon them? 
 
 Note. — Should the teacher consider it desirable the student may be required to draw up all of the papers ana forms 
 m the foregoing memoranda. In the absence of an actual business department especially, it would be best to make such 
 a requirement. 
 
 Excellent drill for the student could also be secured by requiring him to continue the foregoing business for ten or 
 twenty days longer, originating his own tra)isae,iions. if this plan were pursued, an amount would have to be eissumed for % 
 Mdse. inventory at the time of closing the books. 
 
RETAILER'S BOOKS, 
 
 (DOUBLE ENTRY,) 
 
 DESIGNED FOR RETAIL GROCERIES, MARKETS, SHOPS, ETC. 
 
 ^ The following arrangement of books and records is designed to illustrate a popular system of 
 book-keeping for a retail business. While it does not strictly conform to the principles of Double 
 Entry book-keeping, inasmuch as the Merchandise account is not made to show all of the purchases 
 and sales, yet the final results are just as accurate, and are obtained at a great saving of time and labor. 
 
 ' The books required are an Order Book, Cash Book, Journal, Personal Ledger and Ledger. The 
 Order Book and Personal Ledger are used as auxiliary books; the others as principal. 
 
 The ' Order Book is a cheap, coarse boOk, made usually with a page about twelve inches long and 
 five inches wide, and lies upon the counter. In it are entered the orders as they are received during 
 the day. * Goods to be delivered, that are paid for when ordered, are entered regularly in the Order 
 Book, and the word " Paid " written across the order. ' If not paid, the items are entered in the 
 purchaser's account in the Personal Ledger at the close of the day's business. 
 
 " The Cash Book does not differ from the form already illustrated, and is used as a principal book. 
 It need not be closed oftener than once a week, or once a month The first column on the debit sid<} 
 is devoted to cash sales of Mdse. 
 
 ' The Journal contains all entries excepting those made in the Cash Book. ' The Journal may he 
 dispensed with by using the Cash Book as illustrated in the Cash Method, on pages 110-111. 
 
 ' The Personal Ledger contains accounts with customers only, and is entirely an auxiliary book. 
 '" Sales on account are regarded as merchandise on hand until the accounts are paid, at which time 
 Merchandise is credited with such payments. " The ordinary Journal ruling is considered preferable 
 for a Personal Ledger of this character, as it affords more room for items. " All statements may be 
 made out from the Personal Ledger without referring to any other book. 
 
 " The Ledger is used as in any other business. 
 
 The student will be expected to post and take a Trial Balance at the end of the first week, and 
 close the Ledger at the end of the second week. "The accounts in tlie Personal Ledger will liave to be 
 included in the inventory in closing the Merchandise account. " No Bank account will be kept in 
 the Ledger. '*The Cash Book will exhibit all cash in bank and on hand, as illustrated ir. the 
 Wholesale Business on page 1-31. " You will credit Cash when a check is given, and make no entry 
 for deposits, except in the Check Book, 
 
 143 
 
144 
 
 TIIEOKKTICAL AND PKACTICAL BOOKKEEPING. 
 
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 13 
 
 10 lt)s. A. C. Sugar, 95; 4J C. Fish, 36 
 2 J. Coffee, ™; 5 gal. K. Oil, ^ 
 
 Cash, 
 
 4 lbs. Crackers, «; 4 l)ii. Potatoes, 2«' 
 
 1 bag Salt, 20; 3 IJaisins, 36 
 
 1 box Starch, <0; 2 cans Oysters, ^ 
 
 1 bbl. Apples, 200; 1 cake 'Chocolate, 33 
 
 Cash, 
 
 2 has. Peaches, 2«'; 10 B. Sugar, 95; i j,k. S. Potatoes, «• 
 
 W. L. WOOD, 26 State Street. 
 
 1 
 
 31 
 
 
 1 
 
 45 
 
 
 2 
 
 76 
 
 2 
 
 3 
 
 80 
 56 
 
 
 1 
 
 
 
 2 
 
 35 
 
 
 e 
 
 7 1 
 
 5 
 
 3 
 
 95 
 
 
 76 
 
 188- 
 l>Iov. 
 
 2 
 4 
 
 5 
 
 8 
 
 11 
 
 13 
 
 3 doz. Eggs, »>; 10 lbs. B. Sugar, ^ 
 
 5 bu. E. 11. Potatoes, 30O; 2 W. Pails, «» 
 
 10 lbs. Butter, 250; 5 Chicken, 6O; ] A. C. Sugar, 95 
 
 10 G. Sugar, 105; 5 k. Oil, r=; 5 C. Fish, ■'O; 3 lbs. Crackers, so 
 
 Cash, 
 
 1 box Soaj), 415; 1 pt. s. Potatoes, sO; 3 doz. Eggs, eo 
 
 2 J. Coffee, 70; 1 lb. J. Tea, »); 1 N. P. Flour, S'JS 
 
 Cash, 
 
 1 
 
 3 
 
 50 
 40 
 
 
 4 
 
 05 
 
 
 2 
 
 50 
 
 
 1 1 
 
 4 5 
 
 10 
 
 5 
 
 25 
 
 
 9 
 
 95 
 
 
 3e 
 
 5 
 
 10 
 
 99 
 
THEORETICAL AND PRACTICAL BOOK-KBEPING. 
 
 145 
 
 ORDER BOOK. 
 
 NOVEMBER 1, 188- 
 
 W. L. Wood, 26 State St. 
 
 § doz. Eggs, 20, .00 
 
 i 10 lbs. B. Sugar, 9, .90 
 
 5 bu. E. K. Potatoes, CO, 3.00 
 
 2 W. Pails, 20, .40 
 
 Mrs. J, H. Smith, 18 Brown St. 
 1 lb. Jap. Tea, .50 
 
 10 " <Jran. Sugar, 10^, 1.05 
 
 l^al-. N. 0. Molasses, .45 
 
 John Wilson, 119 Fourth St. 
 
 10 lbs. A. C. Sugar, 9^, .95 
 
 4i " C. Fish, 8, .30 
 
 2 " J. Coffee, 35, .70 
 
 5 gal. K. Oil, 15, .75 
 
 A. C. Davis, 126 Tremont St. 
 15 lbs. G. Sugar, 10 J, 1.58 
 
 10 "' B. " 9, .90 
 
 S bu. Potatoes, 00, 3. 
 
 5 lbs. L. Raisins, 13, .65 
 
 B. J. Brown, 38 St. Paul St. 
 
 1 lb. Y. H. Tea, .48 
 
 15 lbs. A. C. Sugar, 9i, 1.43 
 
 5 " C. Fish, 8, .40 
 
 1 gal. S. H. Syrup, .68 
 
 F. G. Ransom, 98 Spring St. 
 
 10 lbs. A. C. Sugar, 9^, .95 
 
 5 bu. Potatoes, 60, 3. 
 
 1 lb. Jap. Tea, .50 
 
 2 lbs. J. Coffee, 35, .70 
 
 NOVEMBER 2, 188-. 
 
 W. L. Wood, 20 State St. 
 
 10 lbs. Butter, 25, 2.50 
 
 5 •' Chicken, 12, .60 
 
 10 " A. C. Sugar, 9i, .95 
 
 Mrs. J. H. Smith, 18 Brown St. 
 5 bu. Potatoes, 60, 3. 
 
 3 doz. Eggs, 18, .54 
 
 5 lbs. Butter, 25, 1.25 
 
 D. Lucas, 10 Jones St. 
 
 10 lbs. B. Sugar, 9, .90 
 
 5 bu. Potatoes, 60, 3. 
 
 10 lbs. Butter, 25, 2.50 
 
 A. C. Davis, 126 Tremont St. 
 
 10 lbs. Butter, 25, 2.50 
 
 10 " A. C. Sugar, 9^, .95 
 
 1 " Jap. Tea, .50 
 
 NOVEMBER 3, 188-. 
 
 F. G. Ransom, 98 Spring St. 
 
 10 lbs. Butter, 25, 2,50 
 
 5 " Chicken, 12, ,60 
 
 Igal. K. Oil, ,15 
 
 90 
 
 70 
 
 13 
 
 99 
 
 15 
 
 05 
 
 79 
 
 40 
 
 95 
 
 25 
 
 ORDER BOOK. 
 NOVEMBER 3, 188-. 
 
 Mrs. J. H. Smith, 18 Brown St. 
 5iS^lbs. Chicken, 12, .00 
 
 10 " B. Sugar, 9, .90 
 
 5 " Mackerel, 8, .40 
 
 D. Lucas, 10 Jones St. 
 lbs. Chicken, 12, 
 
 5 doz. Eggs, 18, 
 
 2 Brooms, 35, 
 
 3 W. Pails, 25, 
 
 .72 
 .90 
 .50 
 .50 
 
 B. J. Brown, 38 St. Paul St. 
 
 1 Broom, .25 
 
 6 lbs. Chicken, 12, .72 
 
 10 " Gran. Sugar, lOJ, 1.05 
 
 NOVEMBER 4, 188-. 
 
 W. L. Wood, 26 State St. 
 
 10 lbs. Gran. Sugar, 10^, 1.05 
 
 6 gals. K. Oil, 15, .75 
 
 5 lbs. C. Fish, 8, .40 
 
 3 " Crackers, 10, .30 
 
 John Wilson, 119 Fourth St. 
 4 lbs. Crackers, 10, .40 
 
 4bu. Potatoes, '60, 2.40 
 
 1 bag Salt, 10 lbs., .20 
 
 3 lbs. Raisins, 
 
 12, 
 
 .30 
 
 A. C. Davis, 126 Tremont St. 
 
 1 box Pepper, 
 
 
 .25 
 
 1 Ex. Lemon, 
 
 
 .20 
 
 5 K. Oil, 
 
 15, 
 
 .75 
 
 3} lbs. Chicken, 
 
 12, 
 
 .42 
 
 D. Lucas, 10 Jones St. 
 
 
 3 lbs. Crackers, 
 
 10, 
 
 .30 
 
 2 " J. Coffee, 
 
 35, 
 
 .70 
 
 2 gals. K. Oil, 
 
 15, 
 
 .30 
 
 10 lbs. G. Sugar, 
 
 lOJ, 
 
 1.05 
 
 NOVEMBER 
 
 5, 188-. 
 
 
 Mrs. J. H. Smith, 
 
 18 Brown St. 
 
 3 lbs. Crackers, 
 
 10, 
 
 .30 
 
 1 Lem. Extract, 
 
 
 .20 
 
 1 box Pepper, 
 
 
 .25 
 
 2 gals. K. Oil, 
 
 15, 
 
 .30 
 
 3 lbs. C. Fish, 
 
 8, 
 
 .24 
 
 10 " A. C. Sugar, 
 
 10, 
 
 1. 
 
 B. J. Brown, 38 St. Paul St. 
 
 5 bu. Potatoes, 
 
 60, 
 
 3. 
 
 3 lbs. J. Coffee, 
 
 35, 
 
 1.05 
 
 5 " Butter, 
 
 25, 
 
 1.25 
 
 F. G. Ransom, 98 Spring St. 
 
 1 box Pej>per, .25 
 10 lbs. G. Sugar, 10^, 1.05 
 
 2 Brooms, 25, .50 
 2 W. Pails, 20, .40 
 
 90 
 
 02 
 
 02 
 
 50 
 
 30 
 
 02 
 
 35 
 
 29 
 
 30 
 
 20 
 
146 
 
 l\o\. 
 
 1 
 
 Student, 
 
 JJ 
 
 Mdsc. 
 
 2 
 
 a 
 
 3 
 
 (( 
 
 4 
 
 (t 
 
 5 
 
 it 
 
 6 
 
 a 
 
 Nov. I 7 J'alance, 
 
 THEORETICAL AND PRACTICAL BOOKKEEPING 
 
 CASH BOOK. 
 NOVEMBER, 188-. 
 
 Investment, 
 
 
 
 2500 
 
 
 Cash sales, 
 
 28 
 
 45 
 
 
 • 
 
 li a 
 
 27 
 
 90 
 
 
 
 a a 
 
 is 
 
 90 
 
 
 
 i6 t( 
 
 92 
 
 32 
 
 
 
 t< (( 
 
 9i 
 
 25 
 
 
 
 « « 
 
 105 
 
 95 
 
 395 
 
 1 1 
 
 
 
 
 2895 
 
 77 
 
 
 
 
 1C23 
 
 75 
 
 JOURNAL. 
 
 NOVEMBER 1, 188- 
 
 
 
 Mdse. 
 
 To H. A. Brewster, 
 Invoice due i;i IJ days. 
 
 1087 
 
 50 
 
 1087 
 
 5C 
 
 
 
 Mdse. 
 
 2. 
 
 To Geo. C. Buell & Co. 
 l.ivoice due ia 30 days. 
 
 327 
 
 50 
 
 ': 327 
 
 i 
 
 f.O 
 
 
 
 Student, 
 
 3. 
 
 To Mdse. 
 Private use. 
 
 G 
 
 50 
 
 1 
 
 6 
 
 50 
 
 
 
 Mdse. 
 
 5. 
 
 To Geo. C. Bucll & Co. 
 Invoice due iu 30 days. 
 
 117 
 
 50 
 
 117 
 
 50 
 
 
 
 Mdse. 
 
 To H. A. Brewster & Co. 
 Invoice due in 10 days. 
 
 G3 
 
 18 
 
 63 
 
 18 
 
 
 
 Student, 
 
 6. 
 
 To Mdse. 
 Private use. 
 
 9 
 
 i 
 
 80 
 
 9 
 
 80 
 
XiUiyiiBTlCAl, Ai\D I'liACi'lOAL BOOK-KEEPING. 
 
 CASH BOOK. 
 
 NOVEMBER, 188-. 
 
 U^ 
 
 Nov. 
 
 1 
 
 Ex])ense, 
 
 Iron Safe, 
 
 100 
 
 
 
 
 
 ?J 
 
 (( 
 
 Horse, 125; Harness, 13, 
 
 137 
 
 
 
 
 
 )> 
 
 ti 
 
 Wagon, 
 
 GO 
 
 
 
 
 
 >J 
 
 a 
 
 P. Scales, 35; C. Scales, 3C, 
 
 61 
 
 
 
 
 
 ;j 
 
 a 
 
 Office Books, 
 
 7 
 
 
 
 
 
 ?) 
 
 Mdse. 
 
 Invoice of S. P. & Co. 
 
 072 
 
 37 
 
 
 
 
 3 
 
 it 
 
 Vegetables, Poultry, etc. 
 
 39 
 
 84 
 
 
 
 
 ?> 
 
 Student, 
 
 Private use. 
 
 10 
 
 
 
 
 
 4 
 
 Mdse. 
 
 Vegetables, Poultry, etc. 
 Crackers, etc., J. Howe & Son, 
 
 36 
 
 24 
 
 
 
 
 TJ 
 
 tj 
 
 38 
 
 92 
 
 
 
 
 5) 
 
 Expense, 
 
 Hay, Oats, etc. 
 
 28 
 
 75 
 
 
 
 
 5 
 
 a 
 
 Insurance, 
 
 15 
 
 
 
 
 
 » 
 
 a 
 
 Horseshoeing, 
 
 2 
 
 50 
 
 
 
 
 6 
 
 i( 
 
 Stuart & Co., Carpenter Work, 
 
 36 
 
 50 
 
 
 
 
 )) 
 
 Student, 
 
 Private use. 
 
 15 
 
 
 
 
 
 >> 
 
 Expense, 
 
 J. Dunn, 10; K. H. King, 12, 
 
 32 
 
 
 
 
 
 
 
 
 
 
 1373 
 1633 
 
 0'> 
 
 
 
 Balance, 
 
 
 
 
 75 
 
 
 3895 
 
 77 
 
 
 
 
 
 
 
 MEMORANDA OF TRANSACTIONS. 
 
 NOVEMBER 1, 188-. 
 
 T have commenced a Retail Grocery and Provision Business this day, in the store No. 294 Main 
 Street, leased of J. A. lieed for five years, at $600.00 per year. 
 
 Appropriated sis capital 3500.00, as shown by a pass book containing a credit to my account at 
 First National Bank. (C B., pages H6-lJf7.) 
 
 At the close of the first day's business I find upon the desk memoranda of business transacted, 
 as follows: 
 
 Receipted bills for an Iron Safe, 100.00; Horse, 125.00; Harness, 12.00; Wagon, 60.00; Flatfoi. 
 Scales, 35.00; Counter Scales, 36.00; and Office Books, 7.00; purchased by check. (C. B.) 
 
 An invoice of Groceries, Wooden Ware, etc., purchased of Smith, Perkins & Co., City, amounting 
 to 725.80. The terms of purchase are 6 months, or 5 and 2 J off for cash. Paid by check. (C. B.) 
 
 An invoice of Groceries, Provisions, Canned Goods, etc., purchased of H. A. Brewster & Co., Citj 
 amounting to 1087.50. Terms, 10 days. {./., page 146.) 
 
 Note. — In a business of this character considerable mercliandise in the form of fruit, vegetables, etc., is daily 
 purchased of gardeners, and paid for out of the cash drawer. In such case no entry is necessary, as the merchandise 
 purchased replaces other goods .sold, for which this cash was received. 
 
 An exchange of goods from the store for fruit, vegetables, etc., a balance being paid or received in cash, is also a 
 common transaction, and requires no entry, for the reason indicated above. A balance received would increase the 
 drawer cash and be entered as a sale at the end of the day, and a balance paid would reduce the amount of drawer sales, 
 in effect showing a purchase of goods. 
 
 The following charges are found on the Order Book: Mrs. J. II. Smith, 18 Brown St., 1 lb. Japan 
 Tea, 50c.; 10 lbs. Gran. Sugar, @ 10|c.; 1 gal. N. 0. Molasses, 45c. W. L. Wood, 26 State St., 3 doz. 
 Eggs, @ 20c. ; 10 lbs. B. Sugar, @ 9c. ; 5 bu. E. R. Potatoes, @ 60c. ; 2 W. Pails, @ 20c. John Wilson, 
 119 Fourth St., 10 lbs. A. C. Sugar, @ die; 4|- lbs. C. Fish, @ 8c.; 2 lbs. Java Coffee, @ 35c.; 5 gals. 
 K. Oil, @ 15c. A. C. Davis, 126 Tremont St., 15 lbs. Gran. Sugar, @ lO^c; 10 lbs. B. Sugar, @ 9c.; 
 5 bu. Potatoes, @ 60c.; 5 lbs. L. Raisins, @ 13c. B. J. Brown, 38 St. Paul St., 1 lb. Y. H. Tea, 48c.; 
 15 lbs. A. C. Sugar, @ g^c. ; 5 lbs. C. Fish, @ 8c. ; 1 gal. S. H. Syrup, 68c. F. G. Ransom, 98 Spring 
 
 St., 10 lbs. A. C. Sugar, @ 9ic.; 5 bu. Potatoes, @ 60c.; 
 35c. (0. B. and P. L., pages lli.li. and lli5.) 
 
 Note. — Give each account in the Personal Ledger a whole page. 
 
 Cash sales, shown by cash in drawer, 28.45, (C. B.) 
 
 1 lb. Jap. Tea, 50c. ; 2 lbs. Java Coffee, @ 
 
14S THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 NOVEMBER 2, 188-. 
 
 At the close of this day's business I find the following memoranda upon the desk: 
 
 Invoice of Provisions, Wooden Ware, etc., bought of Geo. 0. Buell & Co., at 30 days, amounting 
 to 327.50. (J.) 
 
 I also find upon the Order Book the following: W. L. Wood, 26 State St., 10 lbs. Butter, @ 25c.; 
 5 lbs. Chickens, @ 12c.; 10 lbs. A. C. Sugar, @ 9^c. Mrs. J. H. Smith, 18 Brown St., 5 bu. Potatoes, 
 @ 60c.; 3 doz. Eggs, @ 18c.; 5 lbs. Butter, @ 25c. D. Lucas, 10 Jones St., 10 lbs. B. Sugar, @ 9c.; 
 5 bu. Potatoes, @ 60c.; 10 lbs. Butter, @ 25c. A. C. Davis, 126 Tremont St., 10 lbs. Butter, @ 25c.; 
 10 lbs. A. C. Sugar, @ 9^0.; 1 lb. Jap. Tea, 50c. (0. B. and P. L.) 
 
 Cash sales for the day, 27.90. {C. B.) 
 
 NOVEMBER 3. 188-. 
 
 At the close of business this day I find the following memoranda upon the desk: 
 Slip on a spindle showing^that I have purchased Vegetables, Poultry, Butter, etc., of a farmer, by 
 check, to the amount of 39.84. (C. B.) 
 
 Note. — An entry should be made of this transaction, as omitting it would cause a deficiency in cash. Only such 
 merchandise as is paid for out of the drawer with the proceeds of current sales should be omitted. 
 
 The following orders are found upon the Order Book: F. G. Rmsom, 98 Spring St., 10 lbs. But- 
 ter, @ 25c.; 5 lbs. Chickens, @ 12c.; 1 gal. K. Oil, 15c. Mrs. J. H. Smith, 18 Brown St., 5^ lbs. 
 Chickens, @ 12c.; 10 lbs. B. Sugar, @ 9c. ; 5 lbs. Mackerel, @ 8c. D. Lucas, 10 Jones St., 6 lbs. 
 Chickens, @ 12c. ; 5 doz. Eggs, @ 18c. ; 2 Brooms, @ 25c. ; 2 W. Pails, @ 25c. B. J. Brown, 38 
 St. Paul St., 1 Broom, 25c.; 6 lbs. Chickens, @ 12c.; 10 lbs. G. Sugar, @ lO^c. (0. B. and P. L.) 
 J^ The cash sales for the day have been 48. 90, which includes amounts paid in on account by Mrs. 
 
 J. H. Smith, 5.00; John Wilson, to balance % 2.76; and A. C. Davis, 5.00. (C. B. and P. L.) 
 
 Note. — Foot Wilson's account and rule it up. See Mrs. J. H. Smith's account, page 144. 
 
 I have appropriated 10.00 cash, and goods from the store amounting to 6.50, to my private use. 
 (C.B.andJ.) 
 
 NOVEMBER 4. 188-. 
 
 The following memoranda was found upon the desk at the close of this day: A slip showing that 
 I have bought Vegetables, Poultry, Butter, etc., of farmers, by checks, amounting to 36.24. An invoice 
 of Crackers from J. Howe & Son, 38.92; paid by check. A bill of 28.75 for Hay, Oats and Straw, 
 for horse; paid by check. (C. B.) 
 
 I find the following upon the Order Book: W. L. Wood, 26 State St., 10 lbs. G. Sugar, @ lOJc.; 
 5 gals. K. Oil, @ 15c.; 5 lbs. C. Fish, @ 8c.; 3 lbs. Crackers, @ 10c. John Wilson, 119 Fourth St., 
 
 4 lbs. Crackers, @ 10c. ; 4 bu. Potatoes, @ 60c.; 1 bag Salt, 10 lbs., 20c.; 3 lbs. Raisins, @ 12c. 
 A. C. Davis, 126 Tremont St., 1 box Pepper, 25c.; 1 Lemon Ext., 20c.; 5 gals. K. Oil, @ 15c.; 3^ 
 lbs. Chicken, @ 12c. D. Lucas, 10 Jones St., 3 lbs. Crackers, @ 10c. ; 2 lbs. J. CofEee, @ 35c.; 2 gals. 
 K. Oil, @ 15c.; 10 lbs. G. Sugar, @ lO^c. (0. B. and P. L.) 
 
 Received payments from the following customers on '^c, shown by slips on a spindle: D. Lucas, 
 10.00; F. G. Ransom, in full, 8.40 (rule up his account); A. C. Davis, 6.00. 
 
 Cash sales for the'day, 67.92, which, added to payments on «ifc, make the entire credit to Mdse. 
 for the day, 92.32. {C. B. and P. L.) 
 
 NOVEMBER 5, 188- 
 
 At the close of this day I find the following memoranda on the desk: Invoice of Groceries, from 
 Geo. C. Buell & Co., 117.50; terms, 30 days. (J.) Invoice of Groceries, from H. A. Brewster & Co., 
 63.18; terms, 10 days. {J.) A Policy of Insurance on stock and fixtures of 1500.00; Premium, 1%, 
 paid by check. (C. B.) Receipted bill for Shoeing Horse, 2.50. (C. B.) 
 
 The following is found on the Order Book: Mrs. J. H. Smith, 18 Brown St., 3 lbs. Crackers, 
 @ 10c. ; 1 Lem. Ext., 20c.; 1 pkg. Pepper, 25c.; 2 gals. K. Oil, @ 15c.; 3 lbs. 0. Fish, @ Be; 10 lbs. 
 A. C. Sugar, @ 10c. B. J. Brown, 38 St. Paul St., 5 bu. Potatoes, @ COc; 3 lbs. J. Coffee, @ 35c.; 
 
 5 lbs. Butter, @ 25c. F. G. Ransom, 98 Spring St., 1 pkg. Pepper, 25c.; 10 lbs. Gran. Sugar, @ 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 149 
 
 lOic; 2 Brooms, @ 25c.; 2 W. Pails, @ 20c. P. J. Warner, 19 Wood St., 1 lb. Jap. Tea, 00c. ; 10 
 lbs. G. Sugar, @ lO^c; 1 gal. K. Oil, 15c.; 5 lbs. Crackers, @ 10c. ; 5 bu. Potatoes, @ 60c. {0. 
 B. and P. L.) 
 
 The following customers paid on «(;: Mrs. J. H. Smith, 5.00, and W. L. Wood, 10.00. Cash 
 sales, per drawer, 77.25, with payments on "fc added make entire credit to Mdse. 92.25. (6'. B. and 
 P.L.) 
 
 NOVEMBER 6, 188-. 
 
 The following memoranda is found upon the desk at the close of this day's business: Receipted 
 bill of Stuart & Co., for carpenter work on counters and bins, of 26.50; paid by check. (C. B.) 
 
 Slips in the cash di'awer showing that I have appropriated 15.00 cash and 9.80 in goods from the 
 store, and that I have paid J. Dunn and E. H. King, clerks, 10.00 and 12.00 respectively, for salaries 
 for week. (C. B. and J.) 
 
 Cash sales, shown by cash and slips in drawer, 105. 95. 
 
 I find the following unpaid orders upon the Order Book: John Wilson, 119 4th St., 1 box Starch, 
 G lbs., 40c.; 2 cans Oysters, @ 30c.; 1 bbl. Apfiles, 2.00; 1 cake 'Chocolate, 35c. D. Lucas, 10 Jones 
 St., I lb. Pepper, @ 30c., 15c.; 1 pk. Sweet Potatoes, 50c.; 5^ lbs. 0. Fish, @ 8c. 1 Lem. Ext., 20c.; 
 1 10-lb. bag Salt, 20e. L. J. Seymour, 19 Beach St., 3 doz. Eggs, @ 18c.; 2 cans Oysters, @ 30c.; 4 
 lbs. Crackers, @ 10c. ; 2 bu. Potatoes, @ 60c. F. Woodbury, 16 Locust St., 2 Brooms, @ 25c.; 3 
 bu. Potatoes, @ 60c.; 5^ lbs. Chicken, @ 12c.; 4 lbs. Crackers, @ 10c. ; 1 bbl. Apples, 2.00. (0. B. 
 and P. L. ) 
 
 Note. — You will now close the Cash Book, post and lake a Trial Balance. Give each account one-fourth of a page 
 space. Balance of cash, as shown by Cash Book, 1623.75. 
 
 NOVEMBER 8, 188-. 
 
 The following memoranda appear upon the desk at the close of this day: Receipted bill for a ton 
 of Coal for use of store, 5.75; paid by check. Bill of W. Moran for Stove, Coal Hod, etc., bought on 
 "jc, 41.50. Livoice of goods bought of H. A. Brewster & Co., at 10 days, amounting to 217.50. Horse 
 bought for use of store, by check, 85. 00. 
 
 The following appear upon the Order Book: Mrs. J. IL Smith, 18 Brown St., 1 pk. S. Potatoes, 
 50c.; 1 10-lb. bag Salt, 20c.; 1 W. Tub, 80c.; 1 bbl. Apples, 2.00. W. L. Wood, 36 State St., 1 box 
 Soap, 4.15; 1 pk. S. Potatoes, 50c.; 3 doz. Eggs, @ 20c. B. J. Brown, 38 St. Paul St., 5 lbs. L. 
 Raisins, @ 13c.; 1 bbl. Apples, 2.00; 1 lb. Jap. Tea, 50c.; 1 Lem. Ext., 20c. A. C. Davis, 126 Tre- 
 niont St., 1 W. Tub, 80c.; 10 lbs. A. C. Sugar, @ 10c. 
 
 The following amounts were paid on "jc: Mrs. J. H. Smith, in full, 4.54; John Wilson, 5.00; 
 B. J. Brown, 10.00. Cash sales, including payments on "jc, 93.82. 
 
 NOVEMBER 9. 188-. 
 
 Paid for new Harness by check, 24.00. Paid cash for building Coal Bin, 2.00, and for Lumber for 
 same, 1.75. 
 
 Order Book: D. Lucas, 10 Jones St., 3 doz. Eggs, @ 20c.; 10 lbs. B Sugar, @ 9c. ; 1 box Soap, 
 4.15; 2 lbs. L. Raisins, @ 12c. P. J. Warner, 19 Wood St., 1 pk. S. Potatoes, 50c.; 1 W. Tub, 80c.; 
 10 lbs. B Sugar, @ 9c.; 6 lbs. Chickens, @ 12c.; 1 bbl. Apples, 2.00. L. J. Seymour, 19 Beach St., 
 1 bbl. N. C. Flour, 8.75; 1 pk. S. Potatoes, 50c.; 1 box Soap, 4.15. F. Woodbury, 16 Locust St., 3 
 lbs. L. Raisins, @ 13c.; 1 W. Tub., 80c.; 1 gal. N. 0. Molasses, 45c.; 10 lbs. Gran. Sugar, @ lO^c. 
 Mrs. J. H. Smith, 18 Brown St., 10 lbs. G. Sugar, @ lOJc. ; 4 lbs. Chicken, @ 12c.; 2 cans Oysters, 
 @ 30c. 
 
 Cash Sales, 93.18. 
 
 NOVEMBER, 10, 188-. 
 
 Drew 15.00 cash, for private use, and ajjpropriated 14.60 in goods. 
 
 Order Book: P. G. Ransom, 98 Spring St., 1 box Soap, 4.15; 2 lbs. Coffee, @ 32c.; 1 W. Tub, 
 80c.; P. J. Warner, 19 Wood St., 1 Lem. Ext., 20c.; 10 lbs. A. C. Sugar, @ 10c. ; 1 gal. N. 0. Molasses, 
 45c.; 1 bbl. N. P. Flour, 8.75. B. J. Brown, 28 St. Paul St., 1 bbl. N. P. Flour, 8.75; 2 W. Pails, 
 @ 30; 1 Basket, 18c. L. J. Seymour, 19 Beach St., 2 cans Oysters, @ 30c.; 1 Lem. Ext., 20c.; 4^ 
 Jbs. Chickens, @ 12c.; 10 lbs. G. Sugar, @ lO^c. 
 
 Payments on account, L. J. Seymour, 15.00; F. Woodbury, in full, 8.05; D. Lucas, 7.00; P. J. 
 Warner, 20.00. Cash sales, including payments on account, 136.27. 
 
150 THEOBETICAL AND PKACl'ICAL BOOK KEEPiSG. 
 
 NOVEMBER 11, 188-. 
 
 I find upon the desk the following: A receipted statement from H. A. Brewster & Co., of Invoice 
 of 1st inst., paid by check, 1087.50. 
 
 Order Book: P. Woodbury, IG Locust St., 1 bbl. N. P. Flour, 8.75; 1 pk. S. Potatoes, 50c.; 2 
 W. Pails, @ 20c. L. J. Seymour, 10 Beach St., 10 lbs. B. Sugar, @ 9^0. ; 3 doz. Eggs, @ 20c.; 2 W. 
 Tubs, @ 80c.; 1 bbl. Apples, 2.00. Mrs. J. H. Smith, 18 Brown St., 1 bbl. N. P. Flour, 8.75; 2 lbs. 
 R. Coffee, @ 32c. W. L. Wood, 26 State St., 2 lbs. J. Coffee, @ 35c.; 1 lb. Jap. Tea, 50c.; 1 bbl. K 
 P. Flour, 8.75. 
 
 Payments on account, B. J. Brown, 10.00; F. G. Ransom, 5.00. Cash sales, including payments 
 on accounts, 141.23. 
 
 NOVEMBER, 12, 188-. 
 
 Paid casli for graining counters and bins, 11.75. Bought Fruit, Poultry, &c., by check, 32.15. 
 
 Order Book: P. J. Warner, 19 Wood St., 1 bbl. Apples, 2.00; 1 basket Peaches, 1.50; 10 lbs. 
 Concord Grapes, @ 4c.; 10 Ujs. Gran. Sugar, @ lO^c. D. Lucas, 10 Jones St., 10 bu. ' Potatoes, @ 
 60c.; i bu. S. Potatoes, 1.20; 2 cans Oysters, @ 30c.; 4} lbs. Chickeens, @ 12c. John Wilson, 
 119 4th St., 2 baskets Peaches, @*1.20; 10 lbs. B. Sugar, @ 9ie.; 1 pk. S. Potatoes, 60c. A. C. 
 Davis, 126 Tremont St. , 5 ll)s. Chickens, @ 12c. ; 2 cans Oysters, @ 30c. ; 2 lbs. Crackers, @ 12c. ; 2 
 baskets Peaches, @ 1.20; 2 bu. Potatoes, @ 60c. 
 
 Payment on account, Mrs. J. H. Smith, 10.00. Cash Sales, including payment, 168.83. 
 
 NOVEMBER 13, 188-. 
 
 Paid cash for Horseshoeing, 2.50; clerks' salaries for week, 10.00 and 12.00; Letter Heads and 
 Envelopes, 2.00; and Postage, 30c. 
 
 Order Book: A. C. Davis, 126 Tremont St., 1 bbl. N. P. Flour, 8.75; 1 pk. S. potatoes, 60c.; 
 4i lbs. C. Fish, @ 8c. F. G. Ransom, 98 Spring St., 6 lbs. Mackerel, @ 6-Jc. ; 2 cans Oysters, @ 30c.; 
 1 bbl. Apples, 2.00; 3 lbs. L. Raisins, @ 13c. John Mead, 103 Smith St., 1 bbl. N. P. Flour, 8.75; 
 4 bu. Potatoes, @ 60c. ; 1 can Oysters, 30c. ; 2 lbs. Java Coffee, @ 36c. ; 1 lb. Japan Tea, 60c. ; 1 box 
 Soap, 4.15; 1 bbl. Apples, 2.00. 
 
 Payments on account, A. C. Davis, 10.00; W. L. Wood, 10.00; John Mead, 15.00; B. J. Brown, 
 in full, 2.99. Cash sales, including payments, 163.19. 
 
 Having now conducted the business two weeks, I have determined to close the accounts showing 
 gains and losses,* and ascertain the result of the venture. 
 
 RESOURCE INVENTORIES. 
 
 Note. — Since the sales of merchandise on account are not credited to Mdse. account when made, it is apparent 
 that the balance of all the accounts in the Personal Ledger should be included in the Inventory. 
 
 MERCHANDISE— in Store, .-. 1640 85 
 
 " Personal Ledger:— F. Woodbury, 9.L5; L. J. Seymour, 8.68; 
 
 Mrs. J. II. Smith, 1.52; W. L. Wood, 6.65; John Wilson, 5.66; A. C. Davis, 
 7.25; F. G. Ransom, 6.17; D. Lucas, 10.09; P. J. Warner, 5.57; John Mead, 
 
 3.92, - * - - C5 16 
 
 1706 01 
 
 EXPENSE— 2 Horses, 310.00; 1 Wagon, 66.00; P. Scales, 35.00; C. Scales, 26.00; 2 Har- 
 nesses, 30.00; Hay, Oats, &c., 20.00, -_ 487 00 
 
 LIABILITY INVENTORY. 
 
 EX PE N SE— One-half Month's Rent unpaid, to be debited to Expense, 25 00 
 
 Net Gain, 100.30; Balance of Cash, 11;;8.57. 
 
 QUESTIONS FOR REVIEW. 
 
 Page 143. — 'To what kind of business is this arrangement of books adapted? 'What books arc 
 required? ' Describe the Order Book. * How are goods marked in the Order Book that are paid for 
 when pitrchased? 'When are the entries in the Order Book posted? 'Describe the Cash Book. 
 ' What does the Journal contain? ' How may the Journal be dispensed with? * Describe the Person:;! 
 Ledger. '"How are sales on account regarded? ".Why is the ordinary Journal ruling preferable for 
 a Personal Ledger? " From what book will statements of customers' accounts be made? " How is the 
 Ledger used? " How are the accounts in the Personal Ledger treated in closing the Ledger? " Why 
 is no Bank account in the Ledger necessary? '° What will the Cash Book exhibit if no Bank account 
 is kept? " How are deposits and checks entered? 
 
MANUFACTURING. 
 
 The following arrangement of hooks is similar in all essential particulars to that of one of the 
 most extensive furniture manufacturing firms in America, and was selected on account of its exceeding 
 simplicity and completeness. 
 
 ' The books required are a Sales Book, Cash Book, Journal and Ledger as principal hooks, and a 
 Hands Eegister and Bill Book as auxiliaries. 
 
 In an extensive business a book called a Tickler is sometimes kept to record the maturity of bills 
 purchased on time on account. This book, as ordinarily used, contains columns for the date of the 
 invoice, the purchaser's name, his address, the terms, the day of maturity, the amount and remarks. 
 A number of pages are set aside for each month of the year, and all bills falling due in any month are 
 entered in the space provided for that particular month. 
 
 * The Sales Book contains all sales on account, giving the articles, terms of sale and amounts. 
 ' The purchasers are debited direct from the Sales Book with the amount of each sale, * and Mdse. 
 account is credited with the daily, weekly or monthly footing. 
 
 ' The Cash Book does not vary from the ordinary form, excepting that the debit column on the left 
 hand page is devoted to the cash sales of merchandise. ' All " Eegular " bills described in the Mem- 
 oranda, have four months to run; but if the purchaser chooses to settle within thirty days, he is 
 allowed a discount. ' Instead of crediting the purchaser's account in the Cash Book with the net 
 amount of cash received, and in the Journal with the discount, the purchaser is credited in the Cash 
 Book for the entire amount of the settlement and Discount account is debited for the discount, on the 
 other side of the Cash Book. See Cash Book, pages 153-3. ' Mdse. account is credited with the 
 footing of the Mdse. column in the Cash Book, whenever the Cash Book is balanced. " The cash 
 should be proved every day in pencil, but the Cash Book need not be balanced oftener than once each 
 week. 
 
 '° The Journal contains only entries that cannot properly be made in the other books. 
 
 " The Hands Eegister contains the weekly earnings of, and payments to, all employees. A column 
 is ruled at the extreme left of the left hand page for the names of the hands, and the remainder of the 
 page is divided into as many double money columns. Dr. and Cr., as the size of the book will permit, 
 similar to the Continued Trial Balance. The employees' time is " made up "from the Foreman's 
 time-book, and the amount due each is entered in the first vacant Cr. Column opposite his name. 
 When they have been paid, the amount each has received is placed in the first Dr. column opposite his 
 name, thus balancing the column. The footing of the H. E. is entered to Labor account on the right 
 hand side of the Cash Book. 
 
 In this set the entire investment is credited to Stock, as explained in the note at the bottom oi 
 page 44. 
 
 i51 
 
152 
 
 THEOKETIOAL AMD PRACTICAL BOOKKEKPIlfG. 
 
 CASH BOOK. 
 
 DECEMBER, 188-. 
 
 DATE. 
 
 Folio. 
 50 
 
 
 HDSB. 
 
 SUNDRIES. 
 
 Dec. 
 
 1 
 
 stock, 
 
 Cash in Safe, 
 
 
 
 311 
 
 14 
 
 
 
 
 
 Bill to J. Smith, Chamber Suit, 
 
 36 
 
 
 
 
 
 
 
 
 " Mrs. Wood, Pat. Rocker, 
 
 33 
 
 
 
 
 
 
 
 
 " AV. Brown, Parlor Suit, 
 
 144 
 
 
 
 
 
 2 
 
 51 
 
 C. A. Graves, 
 
 Reg. bill of Nov. 3, less disct. 
 Bill to B. Jones, Pat. Rocker, 
 
 Wal't H. Rack, 
 Bunch of Cane, 
 
 23 
 
 38 
 
 953 
 
 80 
 8 
 
 1430 
 
 85 
 
 JOURNAL. 
 
 DECEMBER 1, 188- 
 
 Folio. 
 
 Resources of C. J. Huntington & Co. 
 
 To Stock, 
 
 Sundries, 
 Real Estate, 
 
 Merchandise, 
 
 Manufactory, 18000; Warehouse, 34000. 
 
 Machinery and Tools, 
 Office Fixtures, 
 First National Bank, 
 Bills Receivable, 
 
 Manufactured, 47,500; Lumber, 38,000; 
 Hardware, 1400; Fabrics, etc., 1700; 
 Varnishes, Oils, etc., 350. 
 
 Safe, Desks, etc. 
 On deposit, 
 
 J. L. Brown's note, with int. per B. B., 805. 
 
 S. II. Parker's " " " 950. 
 
 D. M.Willard's" •" " 1744.50 
 
 J.B.Andrews' " " " 428.15 
 Interest, On above notes to date, 
 
 C. A. (i raves. Bill of Nov. 3, R. 
 E. S. Smith, " " 5, 
 
 E. S. Smith, " " 5, Net. 
 
 Note. — You will complete this entry and continue the Journal entries as illustrated above. 
 
 
 
 148137 
 
 43000 
 
 
 
 78950 
 
 
 
 9000 
 
 
 
 850 
 
 
 
 448G 
 
 84 
 
 
 3987 
 
 65 
 
 
 39 
 
 79 
 
 
 1436 
 
 85 
 
 
 1153 
 
 85 
 
 
 217 
 
 43 
 
 
 13 
 
 HANDS REGISTER. 
 
 
 DECKMBEK 6. 
 
 DECEMBER 13. 
 
 DECEMBER 20. 
 
 
 DR. 
 
 CR. 
 
 DB. 
 
 Cll. 
 
 DR. 
 
 CR. 
 
 Neir, 
 
 10 
 
 50 
 
 10 
 
 50 
 
 
 
 
 
 
 
 
 
 Brown, 
 
 11 
 
 75 
 
 11 
 
 75 
 
 
 
 
 
 
 
 
 
 Wilson, J. 
 
 13 
 
 80 
 
 13 
 
 80 
 
 
 
 
 
 
 
 
 
 Wilson, D. 
 
 6 
 
 50 
 
 G 
 
 50 
 
 
 
 
 
 
 
 
 
 Meyer, 
 Johnson, 
 
 16 
 5 
 
 90 
 
 16 
 5 
 
 90 
 
 
 
 
 
 
 
 
 
 Lyman, 
 Mosier, 
 
 8 
 
 30 
 
 8 
 
 30 
 
 
 
 
 
 
 
 
 
 14 
 
 50 
 
 14 
 
 50 
 
 
 
 
 
 
 
 
 
 Thayer, 
 Pease, 
 
 14 
 
 12 
 
 50 
 25 
 
 14 
 12 
 
 50 
 25 
 
 
 
 
 
 
 
 
 
 Bartlett, Foreman, 
 
 35 
 
 
 25 
 
 
 
 
 
 
 
 
 
 
 Hyatt, Book-keeper, 
 Morey, Ass't Book-keeper, 
 Hackett, Salesman, 
 
 30 
 
 8 
 18 
 
 
 30 
 
 8 
 18 
 
 
 
 
 
 
 
 
 
 
 Pomeroy, " 
 
 20 
 
 
 20 
 
 
 
 
 ^ 
 
 
 
 
 
 
 
 314 
 
 
 314 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 ■ 
 
THEOKETICAL AND PRACTICAL BOOKKEEPING. 
 
 ihB 
 
 CASH BOOK. 
 
 DECEMBER, 188-. 
 
 DATE. 
 
 Folio. 
 53 
 
 
 SUNDRIES. 
 
 TOTAL. 
 
 Dec. 
 
 8 
 
 Discount, C. A. Graves, o% on 1436.85, 
 
 71 
 
 84 
 
 
 
 
 jj 
 
 54 
 
 Mdse. 3500 ft. Wal't, (a) 70, 
 
 Note.— Continue the entries in the Cash Book as liere illustrated. 
 
 245 
 
 
 
 
 SALES BOOK. 
 
 DECEMBER 1, 188 
 
 Folio, 
 
 Holdridge & Gray, Medina. 
 1 No. 33 Wal't Bed, 
 
 1 No. 33 " Wood Top Dresser, 
 
 2 " Towel Hacks, 
 
 2 No. 80 Chairs, 
 12 No. 49^ " 
 12 No. 57 " 
 
 John H. King, City. 
 
 6 No. 36 Chairs, Maple, 
 
 Geo. C. Lyon, Fair Haven. 
 
 3 Best S. B. Beds, 
 3 High H. D. Cott, 
 
 3 Low do. 
 
 1 Imp. Congress Chair, 
 24 No. 72 Light Chair, 
 12 No. 72 Dark 
 
 4 No. 61 
 
 E. 
 
 it 
 (t 
 
 Net. 
 
 i i 
 Si 
 
 Net. 
 Net. 
 
 10 
 
 50 
 
 
 17 
 
 
 
 1 
 
 65 
 92 
 
 29 
 
 15 
 
 
 
 9 
 
 
 24 
 
 10 
 
 6 
 
 30 
 
 
 7 
 
 65 
 
 
 7 
 
 20 
 
 
 2 
 
 85 
 
 
 11 
 
 
 
 5 
 
 50 
 
 
 1 
 
 92 
 
 42 
 
 15 
 92 
 80 
 
 42 
 
 LEDGER. 
 
 C. A. GRAVES, Brockport. 
 
 188- 
 
 
 ft '- ■- 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Nov. 
 
 3 
 
 J. 
 
 K. 
 
 
 1436 
 
 85 
 
 Dec. 
 
 2 
 
 C. B., bi ofE, 
 
 
 1436 
 
 85 
 
 Dec. 
 
 3 
 5 
 
 S. B. 
 
 a 
 (( 
 
 it 
 
 Net. 
 
 (6 
 
 
 54 
 
 3 
 
 19 
 
 50 
 08 
 35 
 
 
 
 
 
 
 
 
 
 E. S. SMITH, North Wilson. 
 
 188- 
 
 
 
 
 
 
 
 188- 
 
 
 
 
 i 
 
 
 Nov. 
 
 5 
 
 5 
 
 J. 
 
 R. 
 
 Net. 
 
 
 1153 
 217 
 
 85 
 43 
 
 Dec. 
 
 4 
 
 C. B., 5^ off, 
 
 
 1371 
 
 28 
 
 
 
 WARREN & FRANCIS, Jamestown 
 
 188- 
 
 
 
 
 
 
 
 188- 
 
 
 
 
 
 
 Nov. 
 
 7 
 
 J. 
 
 • Net. 
 
 
 216 
 
 40 
 
 Dec. 
 
 6 
 
 C. B. 
 
 
 216 
 
 40 
 
 Dec. 
 
 3 
 5 
 
 S. B. 
 
 (i 
 it 
 
 R. 
 
 Net. 
 
 E. 
 
 Net. 
 
 
 12 
 13 
 48 
 34 
 
 50 
 50 
 
 
 
 
 
 
 
154 THEORETICAl, AND PRACTICAL BOOK-KEEPING. 
 
 DECEMBER 1, 188-. 
 Eesourccs of C. J. Huntington & Co., Furniture Manufacturers: 
 
 Rkal Estate: Manufactory, 18000.00; Warehouse, 24000.00. Total, 42000.00. (J.) 
 Mekchandise: Manufactured, 47500.00; Lumber, 28000.00; Hardware, 1400.00; Fahrios, &c., 
 
 irOO. 00; Varnishes, Oil &c., 350.00. Total, 78950.00. (J.) 
 
 Machinery and Tools, 9000.00. (J.) Office Fixtures, Desks &c., 850.00. (J.) First National 
 
 Bank, on deposit, 4480.84. (/. The Bank account is here kept in the Ledger, hut may he kept in the 
 
 Check Book if preferred.) Cash in Safe, 211.14. (C. B.) 
 
 Bills Receivable: Note of J. L. Brown, Tonawanda, at 3 mos. from Sept. 1st, witli interest, 
 
 865.00. Note of S. H. Parker, Great Bend, at 3 mos. from Sept. Gth, with interest, 950.00, Note 
 
 of D. M. Willard, Grand Haven, at 2 mos. from Oct. 19th, with interest, 1744.50. Note of J. 
 
 B. Andrews, Salem, at 3 mos. from Nov. 15th, with interest, 428.15. Total, 3987.65. (.7. and B. B.) 
 
 Interest accrued on above notes, 39.79. (</.) 
 
 Personal Accounts {See Note below): C. A. Graves, Brockport, Mdse. bought on Regular 
 
 terms, Nov. 3, 1436.85. E. S. Smith, North Wilson, Mdse. bought Nov. 5. Regular, 1153.85; 
 
 Net, 217.43. Warren & Francis, Jamestown, Mdse. bought Nov. 7; Net, 216.40. John. H. King, 
 
 City, Mdse. bought Nov. 10; R., 184.30; Net, 195.10. Covert Bros., Oxford, Mdse. bought Nov. 13; 
 
 R., 1423.00. Geo. C. Lyon, Fair Haven, Mdse. bought Nov. 16; R., 83.18; Net, 41.12. Holdridge & 
 
 Gray, Medina, Mdse. bought Nov. 19; R., 234.50; Net, 1117.95. W. J. Thompson, Barclay, Mdse. 
 
 bought Nov. 21; R., 1143.25; Net, 73.11. Daniel Paine, Bridgeport, Mdse. bought Nov. 23; R., 118.45; 
 
 Net, 61.17. J. H. Arnold, Geneva, Mdse. bought Nov. 25; Net, 1123.18. (/.) 
 
 Note. — All goods are sold for Cash, Net Cash, or on "Regular" Terms. When sold for cash no entry is made 
 excepting in the Cash Book, and that at the close of the day. If thought best, such sales may be described. See C. 
 B., page 152. Such cash receipts should agree with the Salesman's memoranda. When sold for Net Ciish, the goods 
 are entered in the Sales Book with the word " Net" after each item, and the aggregate is posted to the debit of the pur- 
 chaser's account in the Leflger. Mdse. account should be credited with the daily, weekly or monthly footing of 
 the Sales Book. When sold for "Net Cash" it is understood the bill is to be paid within 30 days. The terms are 
 indicated by " Net" in the Sales Book. At the expiration of the time the bill has to run it will be subject to draft at 
 sight. When goods are sold on " Regular terras," they are entered in the Sales Book and posted precisely as when sold 
 for "Net Cash," excepting that the initial letter "R" is written after each item. Bills sold on "Regular" terms have 
 four months to run, and if paid within 30 days are subject to a discount of 5 per cent. If allowed to run beyond the four 
 months they are subject to draft at sight. The terms on which bills are sold should be indicated in the Ledger as well 
 as in the Sales Book. See accounts given on page 153, for illustration. 
 
 Sold Holdridge & Gray, Medina, 1 No. 33 Wal't Bed, 10.50; 1 No. 33 Wal't Wood Top Dresser, 
 17.00; 1 No. 2 Wal't Towel Rick, 1.65, Regular. 2 No. 80 Chairs, 92c.; 12 No. 49^ Chairs, 15.00 
 12 No. 67 Ch., 9.00, -Net. {See Sales Book, page 153.) 
 
 John H. King, City, 6 No. 36 Maple Chairs, 10.80, Net. {S. B.) 
 
 Geo. C. Lyon, Fair Haven, 3 Best Side-Board Beds, 6.30; 3 High H. D. Cots, 7.65; 3 Low 
 do., 7.20; 1 Imp. Cong. Ch., 2.85; 24 No. 72 Light Ch., 11.00; 12 No. 73 Dark Ch., 5.50; 4 No. 61 
 Ch., 1.92, Net. {S. B.) 
 
 Cash sales, J. Smith, C. Suit, 36.00. Mrs. Wood, Pat. Rocker, 32.00. W. Brown, Parlor Suit, 
 144. {C. B., see page 152. ) 
 
 DECEMBER 2, 188- 
 
 Sold Daniel Paine, Bridgeport, 6 No. 25 Ch., 7.20; 12 No. 72 Ch. Sing. Round Light, 5.25; 
 6 No. 57 Ch., 4.50, Net. {S. B.) . 
 
 Covert Bros., Oxford, 1 No. 33 Wal't Wood Top Suit, 34.75; 1 Tete in Jute, 32.00; 1 Ford 
 Rocker, 11.00, Regular. 1 Arm Chair, 5.00, 'Net. {S. B.) 
 
 J. H. Arnold, Geneva, 2 No. 4 Sof i^ Wood Beds, 6.50; 2 No. 25^ Ch., 8.00; 2 No. 24 Ash and 
 Wal't Beds, 9.00; 18 No. 57 Chairs in White (unfinished), 27.00; 3 No. 33 Asli and Wal't Beds, 18.00; 
 4 No. 309 Ch., 4.00, Net. {S. B.) 
 
 Received check from C. A. Graves for the amount of his bill of Nov. 3, 1436.85, less the regular 
 discount, 5^. (C. B.) 
 
 Bought, for cash, 3500 ft. Wal't Lumber, @ 70.00 per M. (C. B.) 
 
 Cash Sales: B. Jones, 1 Pat. Rocker, 22.00. 1 Wal't Hat Rack, 28.00; Bunch of Cane, 80c. {C B.) 
 
IllEOKETlCAL AND PBACl'iCAL BOOK-Jf RRPtifb 155 
 
 • DECEMBER 3, 188-. 
 
 Sold C. A. Graves, Brockport, 2 No. 42 Ash Beds, 18.00; 2 No. 42 Ash Dressers, 31.00; 1 No. 42 
 Ash W. Stand, 5.50, Regular; and 2 No. 8:5 Ch., 3.08, Net. (.V. B.) 
 
 Sold W. J. Thompson, Barclay, 6 No. G Maple Ch. in the Wliite, 10.80; 4 No. 38 do.. 4.80, Net. - 
 
 {S. B.) 
 
 Sold Warren & Francis, Jamestown, 6 Lounges, White, 7.50; 4 14 x 24 Glasses, 5.00, Regular. 
 24 No. 57 Ch., 13.50, Net. (;S'. B.) 
 
 Holdridge & Gray, Medina, Repairing Bed and Bureau, 8.00; 1 Hair Soft Mattress, 4.50, Regular. 
 [S. B.) 
 
 Cash sales: Mrs. W. Price, Ash Dining Tahle and 6 No. 33 Ch., 2U.00; 1 Wal't Washstand, 4.00 
 (C. B.) 
 
 DECEMBER 4, 188-. 
 
 Sold John H. King, City, 24 No. 87 Ch., 13.00; 36 No. 89 Ch. Dark, 19.50; 12 No. 89 Light- 
 18.00, Net. (& B.) 
 
 Sold Geo. C. Lyon, Fairhaven, 4 Lounges, White, 5.00; 1 Nc. 42 Ash and Wal't Suit, 21.25, 
 Regular. 2 No. 42 Ch., Light, 4.08, Net. {S. B.) 
 
 J. L. Brown paid his note of 8G5.00, and interest, due to-day. 
 
 E. S. Smith pays his bill of Nov. 5th, 1371.28, less discount, 5 ^ on the Regular jwrtion of it. 
 [C. B.) 
 
 Cash sales: 1 Cong. Office Chair, 18.00; 1 Office Desk, 45.00. (C. B.) 
 
 DECEMBER 5, 188-. 
 
 Sold C. A. Graves, Brockport, 2 No. 48 Oak Ch., 2. GO; 24 No. 89 Ch., 13.00; 1 Wal't Cor. Stand, 
 3.75, Net. (*S'. B.) 
 
 Sold Warren & Francis, Jamestown, 1 No. 33 Wal't Wood Top Suit, 36.00; G Com. S. B..Beds, 
 12.00, Regular. 2 No. 33 Wal't W. T. Dressers. 31.00, Net. {S. B.) 
 
 Sold W. J. Thompson, Barclay, 1 No. 33 Wal't W. T. Suit, 30. 00; 1 No. 33 Wal't W. T. Wash- 
 stand, 7.50, Regular. 24 No. 87 Ch., 13.00, Net. {S. B.) 
 
 Cash Sales: John Wagner, 1 W. T. Suit, 30.00; 1 Ash Din. Table, 18.00. (C. B.) 
 
 Bought Damask, Jute, &c. of A. S. Mann & Co., by check, 118.44; Invoice filed. {J.) 
 
 Deposited 2500.00. {C. B.) 
 
 DECEMBER 6, 188-. 
 
 Sold Covert Bros., Oxford, 2 No. 33 Wal't W. T. Suits, 69.50, Regular. 6 No. 59 Ch., 13.00, 
 N'et. {S. B.) 
 
 J. H. Arnold, Geneva, 1 No. 3 Couch in Carpet, 9.00; G Lounges, White, 12.90, Reg. 12 No. 
 D. R. Ch., White, 4.35, Net. (.S". B.) 
 
 Daniel Paine, Bridgeport, 2 No. 42 Ash Beds, 18.00; 2 No. 42 Ash Dressers, 31.00; 1 No. 42 W. 
 Stand, 5.50, Reg. 6 No. 83 Ch., 9.00, Net. {S. B.) 
 
 Cash Sales: Parlor Suit, Wal't, 72.00; Chamber riuit, Wal't, 55.00. (C. B.) 
 Warren & Francis pay their net bill of Nov. 7, by check, 21G.40. (C. B.) 
 
 The Foreman in the Cabinet Shop has handed in tne time of, and amount due to tlie following 
 hands: Nier, 10.50; Brown, 11.75; J. Wilson, 12.80; D. Wilson, 6.50; Meyer, 16.90; Johnson, 5.00; 
 Lyman, 8.30; Mosier, 14.50. Thayer, 14.50; Pease 12.25; Bartlett, foreman, 25.00. From the Ware- 
 house are added Hyatt, Book-keeper, 30.00; Mory, Ass't Book-keeper, 8.00; Hacket, Salesman, 18.00; 
 Pomeroy, Salesman, 20.00. {Credit Col. II. R. See form, page 152.) 
 
 Note. — The pupil will rule a sheet for a Hands Register similar to the form given on page 152. 
 
 Paid in full all whose names appear on the Hands Register, in cash. (Debit Col. If. R. and C. B.) 
 
 Balance Cash Book and bring down balance. Cash on hand, 1552.35. Post Journal, Sales Book 
 and Cash Book, and take a Trial Balance. Give each account one-fourth of a page space. In posting 
 the Personal Accounts, enter the terms given in the Memoranda. See Ledger form on page 153. 
 
156 THEOEETICAL AND PRACTICAL BOOK-KEEPINO. 
 
 DECEMBER 8, 188- ■» 
 
 Sold Geo. C. Lyon, Fair Haven, 2 No. 33 Wal't W. T. Dressers, 34.00; 2 No. 33 Wal't W. T. W. 
 Stands, 15.00, Reg. 
 
 Holdridge & dray, Medina, 1 No. 35^ Ash Suit, 2455; 1 No. 50 Shelf Side Stand, 3.75, Reg. 4 
 No. 44 Ch., 3.67; 2 No. 37 Ch., 1.70; 12 No. 87 Ch., 6.50, Net. 
 
 John H. King, City, 2 No. 33 Wal't W. T. Suits, 50.00, Reg. 10 Spindle H'd and F't Beds, 
 24.00, Net. 
 
 Sent check on First National Bank to Bancroft & Co., Pittsburg, for bill of Hardware, 318.45. 
 
 Cash sales: 1 Wal't M. T. Chamber Suit, 118.00; 1 Wal't Parlor Suit in Rep, 85.00. 
 
 Bought new Planer, by check, 875.00. 
 
 DECEMBER 9, 188-. 
 
 Sold E. S. Smith, North Wilson, 1 Book Case, in White, 18.00, Reg. 36 No. 48 Oak Ch., 54.00, 
 Net. 
 
 Warren & Francis, Jamestown, 24 No. 87 Ch., 13.00; 24 No. 89 Ch., 14.00; 12 No. 89 Ch., 6.75, 
 Net. 
 
 W. J. Thompson, Barclay, 1 No. 43 Ash and Wal't Suit, White, 21.25, Reg. 2 No. 80 Ch., 1.08; 
 12 No. 98 Ch., 32.00, Net. 
 
 Cash sales: 6 Dining Ch., 9.00; 1 Book Case, Wal't, 45.00. 
 
 Gave check for 6850 ft. Cherry Lumber, @ 48.00 per M. 
 
 Deposited 1500.00. 
 
 S. H. Parker pays his note of 950.00, with interest, in cash. 
 
 DECEMBER 10, 188-. 
 
 Sold Covert Bros., Oxford, 6 Lounges, White, 7.50; 2 No. 1 Couches in Carpet, 17.50, Reg. 6 
 No. 25 Ch., 7.20; 13 No. 57 Ch., 9.00, Net. 
 
 C. A. Graves, Brockport, 2 No. 42 Ash Beds, 18.00; 2 No. 43 Ash Dressers, 31.00, Reg. 4 No. 
 309 Ch., 4.00, Net. 
 
 Daniel Paine, Bridgeport, 6 14 X 24 Glasses, 8.35; 3 No. 33 Wal't W. T. Suits, 75.00; 1 Buncli 
 Cane, 80c., Reg. 10 No. 309 Ch., 10.00, Net. 
 
 Cash Sales: 1 Tete in Jute. 16.00; 1 Ford Rocker, 8.00; 1 Arm Ch., 6.00, 
 
 J. H. King pays his R. bill, 184.30, and his Net bill of 195.10, of Mov. lOth, less discount, 
 5 ^ on the R. bill. 
 
 DECEMBER 11, 188-. 
 
 Sold Holdridge & Gray, Medina, 6 Ash and Wal't Beds. 36.00, Reg. 18 No. 57. 0., in White, 
 15.50; 24 No. 25^ Ch., 30.00, Net. 
 
 Geo. C. Lyon, Fair Haven, 12 No. 4 W. T. Cent. Tables, 42.00, Reg. 24 No. 59 Ch., 14.50, Net. 
 
 John H. King, City, 2 No. 1 Book Cases, in White, 37.00; 2 No. 33 Ash and Wal't Suite, 68.60; 
 2 No. 98 Ch., 5.50, Net. 
 
 Cash Sales: 1 W. T. Wash Stand, 4.50; 1 M. T. Suit, 56.00; 1 Office Desk, 34.00; 1 Office Chair, 
 15.00. 
 
 Deposited, 1000.00. 
 
 DECEMBER 12, 188-. 
 
 Sold E. S. Smith, North Wilson, 3 No. 42 Ash and Wal't Suits, 63.00; 8 S. W. Beds, 34.00, Reg. 
 4 No. 43 hght Ch., 4.50; 4 No. 35 dark Ch., 4.80, Net. 
 
 W. J. Thompson, Barclay, 3 No. 33 Wal't Beds, 21.00; 2 No. 33 W. T. Dressers, 34.00, Reg. 24 
 No. 72. Ch., light, 11.00; 12 No. 72 Ch., dark, 5.50, Net. 
 
 Cash sales: 1 M. T. Wal't Side Board, 48.00; 1 Wal't D. Table, 34.00; 9 D. Ch., 13.50. 
 
 DECEMBER 13, 188-. 
 
 Sold J. H. King, City, 3 M. T. Wal't Side Bords, 58.00; 3 Wal't D. Tables, 38.00, Reg. 18 No. 
 36 Ch., 34.00, Net. 
 
 J. H. Arnold Geneva, 2 No. 33 Ash and Wal't Suits, 64.00; 3 No. 4 S. W. Beds, 8.00; 8 Com. 
 Wash Stands, 13.00, Reg. 12 No. 80 Ch., 13.00, Net. 
 
 Daniel Paine, Bridgeport, 2 No. 35 Ash Suits, 51.00; 3 Wal't D. Tables, 38.00, Reg. 24 No. 44 
 Ch., 28.00, Net. 
 
 Sales for cash: 1 Couch in Carpet, 18.00; 1 Pat. Kocker, m.w; 3 Office Stools, 3.60. 
 
THEORETICAL AND PRAOTIOAL BOOK-KEEPING. 151 
 
 Covert Bros, pay their R. bill of Nov. 13, less discount, in cash. 
 
 Deposit in First National Bank, 1500.00. 
 
 Bartlett, foreman, has loft his Time Book in the office, from which the Pay Roll will be made up. 
 The hands have earned during the week, as follows: Neir, 11.75; Brown, 11.50; J. Wilson, 14.30; D. 
 Wilson, 8.75; Meyer, 15.50; Johnson, 6.75; Lyman, 9.80; Hosier, 13.20; Thayer, 16.25; Pease, 12.50; 
 Bartlett, Foreman, 25.00. Added from the Office and Warehouse: Hyatt, Book-keeper, 30.00; Morey, 
 Ass't Book-keeper, 8.00; Hackett, Salesman, 18.00; Pomeroy, Salesman, 30.00. Entered on Hands 
 Register and paid in full, in cash. 
 
 INVENTORIES, DECEMBER 13, 188-. 
 
 REAL EST ATE— Manufactory, 18000.00; Warehouse, 34000.00, 42000 00 
 
 M E RC H AN D I SE— Manufactured Stock and Raw Material, 78164 90 
 
 MACHINERY AND TOOLS— At Cost, 9875 00 
 
 OFFICE FIXTURES— At Cost, _.. 850 00 
 
 INTEREST— Accumulated on D. M. W.'s Note, 
 
 " " " J. B. A.'s Note, 
 
 Balance the Cash Book. Cash on hand, 543.51. Post, make a Balance LJheet, and clcse the 
 Ledger. Net gain, OUO.oU. 
 
 QUESTIONS FOR REVIEW. 
 
 " What books are required? Which are used as principal books, and which as auxiliaries? 'Describe 
 tne Sales Book. 'From which book are customers debited for purchases on account? *To what 
 account is the footing of the Sales Book posted? "In what respect does the Cash Book used in this 
 business differ from the ordinary Cash Book? "What do you understand by "Regular" bills? 'How 
 are purckasers' discounted bills entered in the Cash Book? ' How are the entries of merchandise in 
 the Cash Book posted? ' How often should the cash be proved? '" What does the Journal contain? 
 Describe the Hands Register. 
 
BANKING. 
 
 The following arrangement of books, series of transactions and entries, are designed to impart to 
 the learner a knowledge of the nature and scoi)e of the duties that ordinarily devolve upon the book- 
 keeper in a bank. 
 
 The organization of a bank is explained elsewhere in this connection, but it is not illustrated, the 
 authors believing that only those things that will inevitably confront the pupil when he assumes a 
 position as book keeper in a bank siiould be taught. More than this, it is feared, will tend to confuse 
 the learner, and will be of comparatively little value to him. 
 
 The work embraced in this set begins with the balances of the accounts as exhibited by the 
 Ledgers at the close of business June 15th, and includes tlie transactions developed by two weeks' 
 continuous business. A Jjalance sheet is to be made, a dividend declared, and the books are to be 
 closed June 29th. 
 
 ORGANIZATION OF BANKS. 
 
 There are three ways in which banks are established: First, by an association of individuals, 
 called stockholders, constituting a corporation, whose powers to conduct a banking business are con- 
 ferred by the National Banking Act, and whose affairs are at all times open to the inspection of the 
 proper officer of the United States Treasury; second, by an association of individuals, called stock- 
 holders, also constituting a corporation, whose powers to conduct a banking business are conferred by 
 the statutes of the State in which the bank is located, and whose affairs are, in a measure, under the 
 supervision of the Banking Department of the State; and, third, by an individual or partnership, whose 
 affairs generally are controlled by no public official. In some of the States of the Union, however, and 
 in the Dominion of Canada, the Banking Department has the supervision, in a measure, of every bank 
 conducted by an individual or a partnorshi]). {For explanation of Corporations, see page 202.) 
 
 TO ORGANIZE A NATIONAL BANK. 
 
 National Banks alone issue circulating notes, and they are required to assign in trust to the 
 Treasurer of the United States, bonds of the .government, as security for such circulation. Circulating 
 notes are supplied by tlie government to the amount of ninety jier cent, of the par value of the bonds 
 so assigned. 
 
 The first step to be taken in the organization of a National Bank is to open a subscription list. 
 After the necessary stock has been subscribed, the subscribers meet, adopt articles of association and a 
 name, select a Board of Directors, and elect tlie officers of the bank. The books are then opened, 
 bonds of the United States purchased and transferred to the Treasurer of the United States. Within a 
 reasonable time the proper amount of currency is received from the Treasury Department, and the 
 bank is jirepared to do a banking business, subject to the restrictions and limitations of the National 
 Banking Act. 
 
 TO ORGANIZE A STATE BANK. 
 
 The preliminary steps in organizing a bank under the banking law of the State are much the same 
 as those to be taken in organizing a National Bank. The subscription list is opened, articles of asso- 
 ciation and a name are adopted, a Board of Directors and officers are elected, just as in the case of a 
 National Bank. In addition to the steps mentioned, it is necessary that a copy of the articles of 
 association be filed with the Bank Suiierintendent of the State, where there is such an officer, or with 
 the Comptroller, and another copy in the office of the clerk of the county ]n which the bank is to be 
 located. " ■ • 
 
 TO ORGANIZE A PRIVATE BANK, 
 
 In opening a bank Ijy an individual no formality is required, unless restricted by statute; nor in 
 opening one by a partnershij), further than is necessary in any partnership formed for business pur- 
 poses; simply a partnership contract, signed by the partners, setting forth the nature of the business 
 to be transacted, the amount of capital each partner is to furnish, the duties of each partner, the 
 duration of the partnership, and such restrictions upon the acts of the officers as it is thought wise to 
 
 impose. 
 
 158 
 
TIIEOKETICAL AND PRACTICAL BOOK-KEEPING. 159 
 
 DESCRIPTION OF THE 300KS. 
 
 A larger number of books are required in a bank than in most other kinds of business, yet tlie 
 bookkeeping is of the most simple character. There is so little variety in the business of a bank — the 
 bookkeeping of one day is so like that of every other day — that the duties of the bookkeeper are little 
 more than mechanical, and are very easily learned. The chief qualifications are accuracy and rapidity. 
 
 In banks doing a large business the bookkeeping is divided, sO' that a number of men may be 
 engaged upon the books, as explained elsewhere, but the arrangement of books will not differ materi- 
 ally from that illustrated. 
 
 What is known among bankers as the Balance Ledger is exhibited and explained on pages 199, 
 200 and 201. This form of ledger possesses many advantages, but it is thought best to require the 
 pupil to use the ordinary form of Deposit Ledger, believing the true sphere of instruction in this 
 connection to be to teach book-keeping as it is practiced in the largest number of Banks, instead of 
 teaching innovations and radical departures from established forms and customs. 
 
 The books used in this set are the Journal, General Ledger, Deposit Ledger, New York Draft 
 Eegister, Discount Eegister, Collection Register, Discount Tickler and Collection Tickler. 
 
 JOURNAL. 
 
 The Journal does not differ essentially from the Cash Book as illustrated in the Cash Method on 
 pages 110 and 111. The left-hand page is divided into three cash columns, devoted to Collection and 
 Exchange, Deposits, and General, in the order in which they stand. The Collection and Exchange 
 column contains all the items to be credited to Collection & Exchange account, and the footing of 
 the column is carried into the General column at the close of each day, and posted to the credit of 
 Collection & Exchange in the General Ledger. The Deposits column contains the deposits made by 
 customers during the day, which are posted to the credit of the Depositors' accounts in the Deposit 
 Ledger, and the footing is carried to the General column at the close of the day, and posted to the 
 credit of Deposits account in the General Ledger. The General column contains, in addition to the 
 footings of the Collection & Exchange and Deposits columns, all other entries that are to be posted 
 from this book to the credit side of the General Ledger. The footing of the General column is posted 
 to the debit of Cash in the General Ledger. 
 
 The right-hand page of the Journal is provided with two money columns, designated Deposits and 
 General. The first, or Deposits column, is designed to contain checks drawn by our customers. In case 
 two or more checks, drawn by one depositor, are paid during the day, they are "short extended" on one 
 line, and the aggregate is carried into the Deposits column at the close of the day. The footing of the 
 Doposits column is carried into the General column, and posted to the debit of Deposits account in the 
 General Ledger. Each depositor is debited in the Deposit Ledger for the aggregate of his checks, and 
 all items in the General column are posted to the debit of the proper accounts in the General Ledger. 
 Cash account is credited with the footing of the General column. 
 
 When the business is of such magnitude as to necessitate the employment of two men ujwn the 
 Journal, it is divided into two books, one called Debit Journal, which is the same as the right-hand 
 page in this Journal, and the other called Credit Journal, which is the same as the left-hand page. 
 
 GENERAL LEDGER. 
 The General Ledger contains all of the accounts of the business excepting those with depositors. 
 Certificates of Deposit and Certified Checks. Deposit account in the General Ledger represents the 
 accounts in the Deposit Ledger. 
 
 DEPOSIT LEDGER. 
 
 This book contains accounts with depositors, Certificates of Deposits and Certified Cheeks, and those 
 only. Several forms of Deposit Ledger are explained and illustrated on pages 198, 199, 200 and 201. 
 
 NEW YORK DRAFT REGISTER. 
 In this book is kept, in detail, our account with our New York correspondent. On the left-hand page 
 are entered all remittances made to Chemical National Bank for our credit, giving the number of the dnif t 
 or check, the bank or person by whom drawn, the bank or person on whom drawn, and the amount. 
 On the right-hand page are recorded all drafts drawn on Chemical National Bank, giving the number, 
 the i)erson, firm or bank in whose favor made, the amount of collection and exchange, and the face of 
 the drafts. This book is balanced every day, and the balance brought down. The aggregate of the 
 remittances to Chemical National Bank for the day is charged to that bank on the right-hand side of 
 the Journal, and the aggregate of the drafts made on Chemical National Bank is credited to that bank 
 
160 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 on the left-hand side of the Journal. The footing of the Collection & Exchange column in this book 
 is credited to Collection & Exchange account, on the left-hand side of the Journal. If it is deemed 
 desirable, this book may also be divided into two books, as in the case of the Journal, one being 
 devoted to remittances made to our correspondent in New York city (or other commercial center), 
 and the other to the drafts drawn by us upon such correspondent. 
 
 DISCOUNT REGISTER. 
 
 This book is designed to contain a complete record of all paper discounted by the bank. The 
 Amount, Discount, Collection & Exchange and Proceeds columns are footed each day, and ruled 
 as illustrated. {See Discount Register, pages 190 and 191.) The footing of the "Amount" column 
 is posted direct to the debit of Bills Discounted in the General Ledger, and checked thus \/ in 
 the Discount Eegister; the footings of the "Discount" and "Collection & Exchange" columns to 
 the credit of Discount and Collection & Exchange accounts in the General Ledger, and checked 
 in the Discount Eegister; and the footing of the "Proceeds" column to the credit of Deposits 
 account in the General Lodger, and checked in the Discount Eegister. Each j)crson whose name 
 appears in the "For Whom Discounted " column is credited in the Deposit Ledger for the amount 
 that appears opjjosite his name in the Proceeds column in tlic Discount Register, and checked, using 
 as a check mark the page of the depositor's account in the Deposit Ledger. 
 
 In case the proceeds are paid in cash, the word "Cash" is written after the party's name in the 
 " For Whom Discounted " column and checked as if it were posted, and the party for whom the paper was 
 discounted will be debited in the Deposit column on the right-hand side of the Journal, and this entry 
 also checked. Discounted bills are entered first in the Discount Eegister, and from there transferred 
 to the Discount Tickler, under the date of maturity. When so transferred, a cheek mark, thus \/ , is 
 placed in the Tickler Check column in the Discount Eegister opposite each item. In case a note is 
 dishonored, " Protested " is written opposite the record of it in the " Eemarks " column in the Discount 
 Eegister, and such other particulars regarding the matter as may be important. 
 
 DISCOUNT TICKLER. 
 In this book are recorded all the discounted bills, arranged with reference to their maturity. The 
 sphere of the Tickler is to insure the presentation of paper for payment at the proper time. 
 
 COLLECTION REGISTER. 
 This book is designed^ to contain a record of all paper left with us for collection, that received by 
 us from abroad for collection, and of all sight paper received by us as cash. {See Collection Register, 
 on pages 19^ and 195.) All time i^aper received for collection is also entered in the Collection 
 Tickler, and when so entered is checked thus \/ in the "Tickler and Cr. Check" column in the Col- 
 lection Eegister. All sight jjaper received from abroad is presented at once for payment, and if paid is 
 checked in the " Paid " column in the Collection Eegister. If the paper is received from one of our 
 regular correspondents, we place the amount collected to the credit of such bank in the Journal, and 
 check thus v' in the "Tickler and Cr. Check" column in the Collection Eegister. The proceeds of 
 all paper received from others than regular correspondents are remitted in draft on Chemical National 
 Bank, and when so remitted the paper is checked thus \/ in the "Tickler and Cr. Check" column in 
 the Collection Eegister, and the draft entered in the New York Draft Eegister. All checks and sight 
 drafts payable abroad, received as cash, are entered in this book, and charged in the Journal to the 
 accounts of the banks to which they are sent for collection. When so charged they are checked thus y/ 
 in the " T. and Cr. Check " column. 
 
 COLLECTION TICKLER, 
 
 This book contains a record of all time paper received for collection, such paper being arranged 
 with reference to its date of maturity. The utmost care should be exercised in entering paper in the 
 Ticklers, as grave consequences may follow erroneous entries in these books. 
 
 INDIVIDUAL LIABILITIES. 
 This book is designed to show, in convenient form, the amount of discounted paper carried by the 
 bank for each customer. It gives the date, date of maturity, amount of each note, the parties, collat- 
 eral security if any, and the date when paid. It is not regarded necessary for the pupil to use this 
 book in performing the following work. 
 
 STOCK LEDGER. 
 This book contains an account with every stockholder, in which he is credited with the amount of 
 stock paid for, and debited with all stock transferred to other parties. This book is not used in this 
 connection, but the form of a Stock Ledger is illustrated on pages 303 and 304. 
 
THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 161 
 
 RESOURCES AND LIABILITIES 
 
 OF THE 
 
 SECOND NATIONAL BANK, 
 
 Tlie General Ledger of the Second National Bank exhibits the following balances of accounts at 
 the close of business, Saturday, June 15, 18 — . 
 
 DEBIT BALANCES. 
 
 CREDIT BALANCES. 
 
 Cash, 2 
 
 United States Bonds, 3 
 
 Keal Estate, 5 
 
 Furniture and Fixtures, 6 
 
 Expense, 7 
 
 National Park Bank, New York, 
 
 (approved i-escrve agent), 8 
 
 Chemical National Bank, NewYork, 13 
 Bills Discounted, lo 
 
 Wayne Co. National Bank, Lyons, la 
 Geo. K. Warren & Co., Bankers, Bath, u 
 First National Bank, Rockford, is 
 Norwich National Bank, Norwich, 23 
 Farmers' Bank, Canton, i" 
 
 Third National Bank, Newport, is 
 Exchange National Bank, Bristol, 19 
 Traders' National Bank, Kingston, 20 
 Eedemption Fund with XJ. S. Treas- 
 urer (5 ^ on circulation), 22 
 
 62348 
 
 92 
 
 100000 
 
 
 24500 
 
 
 2500 
 
 
 2683 
 
 19 
 
 26523 
 
 85 
 
 96275 
 
 13 
 
 234873 
 
 54 
 
 3846 
 
 11 
 
 1786 
 
 51 
 
 2870 
 
 97 
 
 814 
 
 02 
 
 386 
 
 07 
 
 1287 
 
 19 
 
 3876 
 
 24 
 
 883 
 
 77 
 
 4500 
 
 
 560955 
 
 51 
 
 Capital Stock, 
 
 Circulation, 
 
 Deposits, 
 
 Discount, 
 
 Collection and Exchange, 
 
 Surplus Fund, 
 
 Undivided Profits, 
 
 200000 
 
 90000 
 
 233783 
 
 6483 
 
 2219 
 
 31750 
 
 5718 
 
 57 
 71 
 18 
 63 
 42 
 
 569955 51 
 
 G. L. 
 
 Note. — Open accounts in the General Ledger with the above balances, as you would if you were opening a new 
 Ledger in any other bu.siness, and open them in the oi-der indicated by the number placed before each amount, giving 
 each account oue-half of a page. 
 
 Tlie following are the balances of depositors' accounts, as shown by the Deposit Ledger. It will 
 be observed that the aggregate of these credits is the same as the amount credited to Dejjosits account 
 in the General Ledger. 
 
 Note. — Open an account with each depositor in the Deposit Ledger, and credit him with the amount opposite his 
 name. Give each account one-half of a page. The order in which they appear is unimportant. 
 
 W. F. Jameson, 
 
 17486 
 
 18 
 
 Forward, 
 
 146662 
 
 42 
 
 Chas. J. Burke, 
 
 32173 
 
 11 
 
 Wm. Ravniond, 
 
 4103 
 
 29 
 
 R. L. Mason, 
 
 18452 
 
 09 
 
 Maxwell Day, 
 
 8946 
 
 25 
 
 D. J. Slecum, 
 
 2483 
 
 74 
 
 Samuel Wilder, 
 
 11216 
 
 07 
 
 Stillman & Moore, 
 
 16293 
 
 81 
 
 L. J. Farnsworth, 
 
 6388 
 
 28 
 
 Jas. Angle, 
 
 9817 
 
 04 
 
 Bingham, Field & Ward, 
 
 16343 
 
 86 
 
 Thomas H. Wilson, 
 
 12117 
 
 93 
 
 Benj. Thomas & Son, 
 
 13963 
 
 26 
 
 R;iv Brothers, 
 
 11483 
 
 54 
 
 Lord & Bennett, 
 
 11861 
 
 98 
 
 Meyer & KaufEman, 
 
 9411 
 
 31 
 
 T. J. & W. E. Upton, 
 
 14298 
 
 16 
 
 Johnson Manufacturing Company, 
 
 16943 
 
 67 
 
 
 
 
 Forward, 
 
 146662 
 
 42 
 
 233783 
 
 57 
 
 D. L. 
 
 The following discounted paper, aggregating the amount debited to Bills Discounted account in 
 the General Ledger, is in possession of the bank at this date, as shown by the Discount Tickler. i^See 
 form of Discount Tickler, on page 196.) 
 
 Note. — This discounted paper should be entered in the Discount Tickler, each item under its date of maturity. 
 Since there is no entry or check mark to be made in the Discount Register at the maturity of paper, it is not necessary 
 to enter paper on hand at this date in that book. All paper discounted on this date, and hereafter, must be entered in 
 the Discount Register as well as the Discount Tickler when received. Write the dates in order in the Discount and 
 Collection Ticklers, omitting Sundays and holidays. All paper maturing on either of the days mentioned should be 
 entered under the previous date. 
 
162 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 No. 182. Note of H. Whitaker, at 30 days from May 15th, indorsed by D. J. Slocum, payaole at 
 Second National Bank, Lyons, for 1500.00. Sent to Wayne County National. 
 
 No. 483. Note of H. C. Decker, at 90 days from March 16th, indorsed by Wm. Kaymond, payable 
 at Exchange Bank, City, for 8750.00. 
 
 No. 484. Note of W. S. Cliapin, indorsed by W. W. Wheeler, at 2 months from April 14th, pay- 
 able at Woodruff's Bank, Livonia, for 500.00. Sent to Woodruff's. 
 
 No. 485. Note of Maxwell Day, indorsed by Burt, Brace & Co., at 1 month from May 15th, pay- 
 able at our bank, for 10000.00. 
 
 No. 486. Note of A. 0. Bunnell, indorsed by Joseph Cone, at 3 months from Marcli 15th, payable 
 at Exchange Bank, Dansville, for 10500.00. Sent to Exchange. 
 
 No. 487. Note of A. M. Hastings, indorsed by Samuel Wilder, at C months from December 16th, 
 payable at Union Bank, City, for 5000. 
 
 No. 488. Note of W. T. Tinsley, indorsed by J. A. Munson and Meyer & Kauffman, at 30 days 
 from May 17th, payable at Wayne Co. National Bank, Lyons, for 7500.00. Sent to Wayne Co. Nat'l. 
 
 No. 489. Note of H. Bancroft, indorsed by Samuel Wilder, at 3 months from March ] 6th, payable 
 at our bank, for 9000.00. 
 
 No. 490. Note of J. Wilson & Co., indorsed by Lord & Bennett, at 60 days from April 17th, pay- 
 able at our bank, for 15000.00. 
 
 No, 49L Note of P. J. Smith, indorsed by Eay Bros., at 4 months from February 17th, payable 
 at Third National Bank, Newport, for 7200.00. Sent to Third National. 
 
 No. 492. Note of Johnson Mfg. Co., indorsed by Freeman Clarke, at 90 days from March 19th, 
 payable at our bank, for 3000.00. 
 
 No. 493. Note of E. L. Mason, indorsed by P. J. Moore, at 1 month from May 18th, payable at 
 our bank, for 5000.00. 
 
 No. 494. Note of D. W. Smith & Co., indorsed by Jas. Angle, at 6 months from December 18th, 
 payable at Union Bank, City, for 2876.90. 
 
 No. 495. Note of L. J, Pratt & Co., indorsed by Jas. Angle, at 30 days from May 19th, payable 
 at Exchange Bank, City, for 1500.00. 
 
 No. 496. Note of Bingham, Field & Ward, indorsed by 0. D. Cox, at 90 days from March 21st, 
 payable at our bank, for 2150.00. 
 
 No. 497. Accepted draft of P. Wise & Son, indorsed by Bingham, Field & Ward, at 10 days from 
 June 9th, payable at Second National Bank, Palmyra, for 1800.00. Sent to Second National. 
 
 No. 498. Note of Creed & Wilson, indorsed by Ray Bros., at 3 months from March 19th, payable 
 at Union Bank, City, for 2500.00. 
 
 ■ No. 499. Note of Brown & Wood, indorsed by Benj. Thomas & Son, at 60 days from April 20th, 
 payable at Third National Bank, Newport, for 1750.00. Sent to Third National. 
 
 No. 500. Note of W. F. Jameson, indorsed by James Brackett, at 30 days from May 22d, payable 
 at our bank, for 12000.00. 
 
 No. 501. Note of Robert Vaughan, indorsed by Lord & Bennett, at 2 months from April 21st, 
 payable at Union Bank, City, for 2540.18. 
 
 No. 502. Note of H. W. Glass, indorsed by Wm. Raymond, at 2 months from April 22d, payable 
 at Brown & Co.'s Bank, Canton, for 785.00. Sent to Farmers'. 
 
 No. 503. Note of L. W. Davis, indorsed by Thos. H. Wilson, at 4 months from February 22d, 
 payable at Exchange Bank, City, for 3250.00. 
 
 No. 504. Note of Meyer & Kauffman, indorsed by Nelson James, at 2 months from April 23d, 
 payable at our bank, for 4500.00. 
 
 No. 505. Note of Knajip & Peck, favor of Meyer & Kauffman, at 60 days from April 24th, payable 
 at First National Bank, Auburn, for 3879.60. Sent to First National. 
 
 No. 506. Note of L. W. Brigham, indorsed by Samuel Wilder, at 3 months from March 24th, 
 payable at Farmers' Bank, Canton, for 1285.42. Sent to Farmers'. 
 
 No. 507. Note of Maxwell Day, indorsed by Burt, Brace & Co., at 1 month from May 24th, pay- 
 able at our bank, for 5000.00. 
 
 No. 508. Note of Bingham, Field & Ward, indorsed by C. D. Cox, at 30 days from May 25th, 
 payable at our bank, for 3750.00. 
 
 No. 509. Note of K. T. Snyder, indorsed by Maxwell Day, at 4 months from February 25th, 
 payable at Union Bank, City, for 2463.21. 
 
 No. 510. Note of Amos Tracy, indorsed by Meyer & Kauffman, at 1 month from May 25th, pay- 
 able at Geo. K. Warren & Co.'s Bank, Bath, for 7340.00. Sent to Geo. K. Warren & Co.'s. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 163 
 
 No. 511. Note of Yates & Bell, indorsed by Kay Brothers, at 90 days from March 28th, payable 
 at Exchange Bank, City, for 8500.00. 
 
 No. 513. Note of Weaver & Co., indorsed by T. J. & W. E. Upton, at 3 months from March 
 2Cth, payable at Ninth National Bank, New York, for 6250.00, Sent to Chemical. 
 
 No. 513. Note of Page & Co., indorsed by Thos. 11. Wilson, at 2 months from April 2Ctli, payable 
 at Union Bank, City, for 7300.00. 
 
 No. 514. Note of A. W. Dunlap & Bro., indorsed by Samuel Wilder, at 60 days from April 28th, 
 payable at Norwich National Bank, for 6833.75. Sent to Norwich National. 
 
 No. 515. Note of Stillman & JMoore, indorsed by H. Sibley, at 1 month from May 28tli, jjayable 
 at our bank, for 1500.00. 
 
 No. 516. -Note of Cox & Walker, indorsed by Mej'or & KaufFman, at 2 months from April 20th, 
 payable at Farmers' Bank, Canton, for 3850.00. Sent to Farmers'. 
 
 No. 517. Note of Curr & Carson, indorsed by Meyer & KaiiSman, at 10 days from June 21st, 
 payable at Exchange Bank, Bristol, for 6785.35. Sent to Exchange National. 
 
 No. 518. Note of Carroll & Ward, indorsed by W. F. Jameson, at 30 days from June 1st, payable 
 at Traders' National Bank, Kingston, for 8342.11. Sent to Traders' National. 
 
 No. 519. Note of B. J. Clark & Son, indorsed by Johnson Mfg. Co., at 60 days from May 3d, 
 payable at First Nati<mal Bank, Rockford, for 783.20. Sent to First National. 
 
 No. 520. Note of R. L. Mason, indorsed l)y A. S. Hamilton, at 2 months from May 6th, payable 
 at Geo. K. Warren & Co.'s Bank, Bath, for 600o".00. Sent to Geo. K. Warren & Co.'s. 
 
 No. 521. Note of Clinton Rogers & Co., indorsed by Thos. H. Wilson, at 3 months from Ai)ril 
 7th, payable at Union Bank, City, for 4283.50. 
 
 No. 522. Note of De Witt Clarke, indorsed by L. J. Famsworth, at CO days from May 12th, pay- 
 able at Exchange Bank, City, for 3592. 18. 
 
 No. 523. Note of T. W. Whittlesey, indorsed by Lord & Bennett, at 2 months from May 12th, 
 payable at Farmers' Bank, Canton, for 6583.14. Sent to Farmers'. 
 
 No. 524. Accepted draft of J. B. Meech, indorsed by D. J. Slocum, at 60 days from May 14th, 
 payable at Union Bank, City, for 6380.00. 
 
 No. 525. Note of Meyer & KaufEman, indorsed by Nelson James, at 3 montlis from April 15th, 
 payable at our bank, for 5000.00. 
 
 No. 526. Note of R. II. Atwood, indoi'sed by Chas. J. Burke, at 6 months from January 16th, 
 payable at Exchange Bank, City, for 4350.00. 
 
 No. 527. Note of Maxwell Day, indorsed by Burt, Brace & Co., at 3 months from April 17th, 
 l)ayable at our bank, for 6220.00. 
 
 The following paper is in possession of tlio bank at this date for collection tor other j)arties, as 
 shown by the Collection Tickler. {See form of Collection Tickler, on page 197.) 
 
 Note. — All of this paper must be entered in the Collection Tickler, each item under its date of maturity. Since 
 there is no entry to he made in tlie C!ollection Register when tlie paper matures, excepting to check sight paper wlien it 
 is paid and credited, this paper need not be entered in that book. 
 
 No. 819. For R; L. Mason, accepted draft at 10 days from June 4th, on J. 11. Wing, Lyons, for 
 584.75. Sent to Wayne County National. 
 
 No. 820. For Stillman & Moore, accepted draft at 3 dajs from June 11th, on Porter Farley, Can- 
 ton, for 1250.00. Sent to Farmers'. 
 
 No. 821. For Thos. II. Wilson, John B. Sage's note, at 30 days from May 16th, payable at Geo. 
 K. Warren & Co.'s Bank, Bath, for 817.00, with interest. Sent to Geo. K. Warren & Co.'s. 
 
 Note. — Write Interest over the amount in C. T. 
 
 No. 822. For Meyer & Kauflman, Henry A. Strong's note, at 2 months from April 15th, payable 
 at Union Bank, City, for 215.00. 
 
 No. 823. For Wm. Raymond, accepted draft on W. D. McGuire, at 10 days from June 5th, i)ay- 
 able at Norwich, for 368.90. Sent to Norwich National. 
 
 No. 824. For Samuel Wilder, accepted draft on E. F. Woodbury, Newport, at 60 days from April 
 17th, for 03.92. Sent to Third National. 
 
 No. 825. For Bingham, F. & W., J. E. Booth's note, at 1 month from May 16th iiayable at 
 Canton Savings Bank, for 216.25. Sent to Farmers'. 
 
164 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 No. 826. For Eay Brothers, P. Ford's note at 30 days from May 17th, jiayablc at Eockford 
 County Bank, with interest, for 1483.50. Sent to First National. 
 Note. — Write Interest over the amount in C. T. 
 
 No. 837. For Lord & Bennett, J. M. Harrison s note, at 3 months from Marcli 17th, payable in 
 Bristol, for 1500.00. Sent to Exchange National. 
 
 No. 828. For Chas. J. Burke, accepted draft on R. S. Kenyon, at 2 montlis from April 17th. 
 payable in New York, for 957.65. Sent to Chemical. 
 
 No. 829. For D. J. Slocum, A. L. ]\Iabbett's note, at 3 months from March 17th -)ayable at 
 Lyons, for 88.40. Sent to Wayne County National. 
 
 No. 830. For Jas. Angle, J. L. Townsend's note, at 60 days from Ajjril 18th, i)ayable at Bath, 
 for 396.15. Sent to Geo. K. Warren & Co. 's. 
 
 No. 831. For Johnson Manufacturing Co., accepted draft ou F. AV. Clark, Norwich, at 3 days 
 from June 15th, for 911.13. Sent to Norwich National. 
 
 No. 832. For Maxwell Daj^ Ward Kelly's note, at 6 months from December 18th, payable at 
 Union Bank, City, for 1350.00. 
 
 No. 833. For L. J. Farnsworth, accepted draft on Arthur Eanncy, at 1 month from May 19th, 
 payable in Canton, for 1215.00. Sent to Farmers'. 
 
 No. 834. For S. H. Lowe, Jacob Hoekstra's note, at 6 months from December 19th, payable at 
 Exchange Bank, City, for 918.30. 
 
 No. 835. For W. F. Jameson, accepted draft on A. M. Hastings, Yonkers, at 10 days from June 
 9th, for 856.62. Sent to Chemical. 
 
 No. 836. For R. L. Mason, L. S. Fulton's note, at 2 months from April 20th, payable in Lyons, 
 for 126. 90. Sent to Wayne County National. 
 
 No. 837. For Stillman & Moore, Chas. F. Ham's note, at 3 mouths from March 21st, payable at 
 Union Bank, City, for 318.20. 
 
 No. 838. For Thos. H. Wilson, R. L. Wayte's note, at 30 days from May 24th, payable in Rock- 
 ford, for 792.53. Sent to First National 
 
 No. 839. For Meyer & Kauffman, accepted draft on Jas. Graham, Norwich, at 30 days from May 
 26th, for 1239.16. Sent to Norwich National. 
 
 No. 840. For Wm. Raymond, Geo. W. Gordon's note, at 2 months from April 27th, payable at 
 Union Bank, City, for 189.38. 
 
 No. 841. For Samuel Wilder, E. M. Sjjaulding's note, at 60 days from April 28th, payable at 
 Exchange Bank, City, for 573.20. 
 
 No. 842. For Bingham, Field & Ward, Jvinius Judson's note, at 5 montlis from January 28th, 
 payable in Kingston, for 375.00. Sent to Traders' National. 
 
 No. 843. For Chas. J. Burke, Raleigh Farrar's note, at 2 months from April 30tli, jjayable in 
 Jersey City, for 432.57. Sent to First National. 
 
 No. 844. For D. J. Slocum, accepted draft at 10 days from June 21st, on Geo. II. Lajiham, 
 Lyons, for 87.50. Sent to Wayne County National. "* 
 
 No. 845. For Jas. Angle, F. W. Warren's note, at 3 months from Aj)ril 1st, payable in Rockford, 
 for 717.90. Sent to First National. 
 
 No. 846. For Ray Brothers, J. M. Cook's note, at CO days from May 5th, payable at Union Bank, 
 City, for 1123.80. 
 
 No. 847. For Johnson Mfg. Co., P. J. Reynolds' note, at 90 days from April Cth, payable in 
 Norwich, for 293.60. Sent to Norwich National. 
 
 No. 848. For Maxwell Day, Carlton Bowen's note, at 3 months from April 7th, payable in Can- 
 ton, for 783.19. Sent to Farmers'. 
 
 No. 849. For L. J. Farnsworth, A. C. Allen's note, at 2 months from May 8tli, 2iayable at 
 Exchange Bank, City, for 318.00. 
 
 No. 850. For Benj. Thomas & Son, note of Geo. W. Eastman, at one month from Juno 13th, 
 payable in Bristol, for 500.00. Sent to Exchange National. 
 
 No. 851. For D. D. T. Moore, note of Robert Boyd, at 2 months from May 13th, i)ayablo at Union 
 Bank, City, for 375.00. 
 
 No. 852. For R. P. Rice, note of J. B. Winnans, at 3 months from April 14th, payaljlc at First 
 National Bank, Bath, for 118.90. Sent to Geo. K. Warren & Co.'s. 
 
 No. 853. For W. F. Jameson, note of K. P. Shedd, at 30 days from Juno 15th, payable at Nor- 
 wich National Bank, for 615.00. Sent to Norwich National. 
 
THEORETICAL AND PRACTICAL BOOKKEEPING. 165 
 
 MEMORANDA OF BUSINESS. 
 
 JUNE 17, 18—. 
 Discount No. 483, note of H. C. Decker of 8750.00, has been paid. 
 Note.— Mark this Paid & Entered, or P. & E., in tlie Discount Tickler, and credit Bills Discounted in the Journal. 
 
 Keceived the following paper for collection : 
 
 No. 854. For E. L. Mason, sight draft on L. W. Wooden, Nyack, for 432.50. Sent it to Chem- 
 ical Bank. ( C. R. See note below. ) 
 
 No. 855. For Stillman & Moore, note of L. F. Chappell, at 3 months from April 1st, for 1250.00, 
 payable at Second National Bank of Lyons. Sentto Wayne Co. National Bank, Lyons. (C.R.and C. T.) 
 
 No. 856. For G. H. Perkins, sight draft on W. B. Murdock, Canton, for 926.18. Sent to Farmers 
 Bank, Canton. {C. R.) 
 
 No. 857. For Jas. Angle, note of David A. Welles, at 30 days from May 18th, for 750.00, with 
 interest, payable at Union Bank, City. ( C. R. and C. T. ) 
 
 No. 858. For T. J. & W. E. Upton, sight draft on Daniel Boody, Hoboken, for 119.75. Sent to 
 Chemical Bank. {C. R.) 
 
 No. 859. For Samuel Wilder, accepted draft on Wm. Haynes, Norwich, at 10 days from June 
 13th, for 1842.11. Sent to Norwich National Bank. (C. R. and C. T.) 
 
 No. 860. For Wm. Raymond, sight draft on Peter Bradley, Eockford, for 143.90. Sent to First 
 National Bank, Eockford. (C. R.) 
 
 Note. — All sight paper, whether received on deposit or only for collection, should be entered in the Collection 
 Register, and all time paper should also be entered in the Collection Tickler, under date of maturity. 
 
 Discounted the following i)aper: 
 
 No. 528. For Chas. J. Burke, note of J. D. Winslow, at 30 days from this date, payable at 
 Exchange Bank, City, for 858. 90. Proceeds credited. {Discount Registei: D. T. See form on pages 
 190 and 191.) 
 
 No. 529. For D. J. Slocum, note of H. Whitaker, at 1 month from June 15th, payable at First 
 National Bank, Lyons, for 1250.00. Proceeds credited and note sent to Wayne County National Bank 
 for collection. Discount, 6.46; Collection, 1.00; Exchange, 1.56. {D. R., D. T.) 
 
 Note. — A charge is made for Exchange as well as Collection on all discoimted paper payable abroad. The proceeds 
 of each note must be remitted to us, if the note was collected by a bank not a regular correspondent, and the cost of 
 Exchange will be deducted; and a like charge for Exchange would be made by our correspondents were it not for the 
 reciprocal arrangement with them mentioned on page 167. Hence our charge for Exchange. 
 
 No. 530. For Samuel Wilder, note of A. M. Hastings, at 10 days from this date, payable at L^nion 
 Bank, City, for 3875.00. Proceeds credited. {D. R., D. T.) 
 
 No. 531. For Johnson Mfg. Co., their note at 30 days from this date, indorsed by Freeman 
 Clarke, payable at our bank, for 5000.00. Proceeds credited. [D. R., D. T.) 
 
 The following drafts on New York were received among the deposits, and have been sent to Chemi- 
 cal Bank, New York, for our credit: No. 234, First National of Dayton, on Shoe & Leather, 2875.00; 
 No. 1851, Commercial of Corning, on Metropolitan, 542.75; No. 753, City Bank of Holley, on Broad- 
 way, 37.20; No. 115, Seward's of Auburn, on Chemical, 1123.14; No. 1321, Exchange of Geneva, on 
 Third National, 2475.00; No. 4, Steele & Avery, City, on D. Slote & Co., 375.00. {N. Y. D. R.) 
 
 Note. — See form of New York Draft Register on page 193, and description of it on page 1.59. 
 
 Drew the following drafts on Chemical Bank: No. 585, favor Lord & Bennett, 325.10; Exch., 50c. 
 No. 586, favor Samuel Wilder, 1200.00; Exch., 1.50. No. 587, favor G. W. Cook, 56.15; Exch., 15c. 
 No. 588, favor Meyer & KaufEman, 2500.00; Exch., 3.13. No. 589, favor Stillman & Moore, 300.00; 
 Exch., 50c. No. 590, favor Thos. H. Wilson, 10000.00; Exch., 12.50. No. 591, favor W. F. Jame- 
 son, 2000.00; Exch., 2.50. {N. Y. D. R. See form on page 193.) 
 
 Eeceived the following deposits: Lord & Bennett, 1285.50; Samuel Wilder, 976.00; Johnson 
 Manufacturing Co., 2875.00; Stillman & Moore, 1872.25; Chas. J. Burke, 5460.00; James Angle, 
 
166 ' THEORETICAL AND PKACTICAL BOOK-KEEPING. 
 
 375.00; W. F. Jameson, 926.14; D. J. Slocum, 432.12; Ray Bros., 856.11; Wm. Raymond, 1756.23; 
 L. J. Parnsworth, 493.92; Benj. Thomas & Son, 1250.00; T. J. & W. E. Upton, 2115.00. (J.) 
 
 Note. — Enter the above deposits on the left-hand side of the Journal, and the following checks on the right-hand 
 side, as they would be in the Cash Method. Enter all deposits and checks in the Journal short extended, and make the 
 final extensions at the close of business for the day. See form of Journal on pages 184 and 185, and the explanation of 
 the manner of tising the special columns on page 159. 
 
 Paid the following checks: Bingham, Pield & Ward, 375.00, 926.50, 1000.00; Lord & Bennett, 
 2118.00, 325. GO, 92.15; Samuel Wilder, 2025.00, 37.50, 325.00, 150.00; Wm. Raymond, 200.00, 480.00, 
 3115.00; Meyer & Kauffrtian, 4275.00, 85.00; Thos. H. Wilson, 10000.00; Stillman & Moore, 2500.00; 
 187.50; 300.00; R. L. Mason, 3250.00, 132.00, 247.18; W. P. Jameson, 2000.00, 342.25, 1175.00. {J.) 
 
 Collection and Exchange, from Teller's Memorandum, 7.25. (/.) 
 
 Note. — The items of Collection and Exchange on sight drafts and foreign checks received on deposit are entered in 
 the Teller's Memorandum at the time the deposits are made, and are either paid in cash by the depositors or deducted 
 from the deposit tickets. Collection and Exchange is credited in the Journal at the end of the day for the sum of such 
 items 
 
 The pupil will now balance the New York Draft Register, and carry the aggregate of the drafts 
 drawn on Chemical National Bank to the credit of that bank on the left-hand side of the Journal, the 
 footing of the Collection & Exchange column to the Collection & Exchange column on the left-hand 
 side of the Journal, and the aggregate of remittances to Chemical National Bank to the debit of that 
 bank on the right-liand side of the Journal. Add and rule the columns in the Discount Register, and 
 post the footing of the column containing the amount of jiaper discounted direct to tlie debit of Bills 
 Discounted in the General Ledger, the footings of the Discount and Collection & Exchange columns to 
 the credit of those accounts m the General Ledger, and tlie footing of the Proceeds column to the 
 credit of Deposits in the General Ledger. The items in the Proceeds column should be credited to the 
 persons for whom discounted, in the Dejiosit Ledger. Check each posting thus y/ in the Discount 
 Register. 
 
 You will also add and rule the Journal, carrying the footings of the Collection & Exchange and 
 Deposits columns into the General column. {See form of Journal on pages 18^. and 185.) Post all of 
 the items in the Deposit column, on the left-hand page, to the credit of the depositors named, in the 
 Deposit Ledger, and the footing of that column to the credit of Deposits account in the General Ledger; 
 and post the items in the Deposit column, on the right-hand page, to the debit of the depositors named, 
 in the Deposit Ledger, and the footing of that column to the debit of Deposits account in the General 
 Ledger. Post all the otlier items in the General column on the left-hand i^age to the credit of the 
 respective accounts in the General Ledger, and those in the General column on the right-hand page to 
 the debit of the respective accounts. Debit Cash account in the General Ledger with the footing of 
 the left-hand page of the Journal, and credit it with the footing of the right-hand page. 
 
 JUNE 18, 18—. 
 
 Received advice from Wayne County National Bank, Lyons, that collection No. 819 has been paid 
 and placed to our credit {J. ) 
 
 Charge W. C. N. Bank, 584.75, and credit R. L. Mason & Co., 584.25, and Coll. & Exch., 50c. Check Paid and 
 Entered, or P. & E., in the Collection Tickler. 
 
 Also from Farmers' Bank, Canton, that collection No. 820 has been paid and placed to our 
 credit. (/. ) 
 
 Charge Farmers' Bank, 1250.00, and credit Stillman & Moore, 1249.00, and Coll. & Exch., 1.00. Check P. & E. in 
 C. T. 
 
 Collection No. 822 has been paid. {J. ) 
 
 Credit Meyer & K., 215.00, and check P. & E. in C. T. No charge is made for collecting paper payable in the city. 
 
 Discount No. 485 has been i)laced among the checks, and will be charged to the account of the 
 maker, Maxwell Day, at the close of business for the day. {J. ) 
 
 Note. — Since this note was made by one of our depositors, and his account is good for the amount, it is only 
 necessary to credit Bills Discounted, 10000.00, at this time, and place the note among the vouchers thnt <"-e to be charged 
 to depositors. See list of checks paid, below. 
 
THKORETICAL AND PRACTICAL BOOK-KEEPING. 167 
 
 Receiyed advice from Wayne County National Bank, that discount No. 482 has been paid and 
 placed to our credit. (J.) 
 
 Credit Bills Discounted and debit W. C. N. Banli 1500.00, and check Paid and Entered, or P. & E., in the 
 Discount Tickler. 
 
 Received draft No. IGl, on Sixth National Bank, New York, from Woodruff's Bank, Livonia, for 
 proceeds of discount No. 484, less 35c. collection and 25c. exchange. (J.) 
 
 Credit Bills Discounted, 500.00, and debit Coll. & Exch., 50c. The draft received will be charged to Chemical 
 National Bank, in the N. Y. Draft Register, later in the day, with other drafts received during the day. 
 
 Received the paper described below, from the following banks, for collection and credit: From 
 Norwich National Bank, H. B. Cook & Co.'s sight draft for 4150.00, on N. Fisher & Co. Presented, 
 collected and credited. (C JL, J.) 
 
 Credit N. N. Bank, 4150.00, and check thus y' in both check columns in the Collection Register. 
 
 Note No. 1.— All paper received for collection from abroad is entered in the Collection Register. If it is time 
 paper, it is also entered in the Collection Tickler and checked thus /in the "Tickler Check" column in the Collection 
 Register. CaaA^ i-t^uvu*,, ifol-Jiit^ . 
 
 Note No. 2. — If payable at sight, it is collected and checked thus / in the " Paid " column in the Collection Regis- 
 ter, and credited to the bank from whom we received it in the Journal, and again checked in the " Tickler Check" 
 column in the Collection Register. The " Tickler Check " column thus serves the double purpose of checking sight 
 pape.r when credited and time paper when entered in the Tickler. ^ 
 
 * 
 
 Note No. .*?. — All paper received for collection, payable abroad, is also entered in the Collection Register. If time 
 paper,it'should also be entered in the Collection Tickler, and checked thus / in the " Tickler Check" column, and sent 
 forward for collection. iVoc--«h-fet— j ^f^ i' •-■^t-W^Cri- ^ "^ Mu^y*^. 7i*^ ^/^^"'^ 
 
 Note No. 4. — If sight paper, receivoa on deposit, or as cash, it should be entered in the Collection Register, charged 
 in the Journal to the bank to whom sent, and checked in the "Tickler and Cr. Check " column in the Collection Register 
 In case of the dishonor of sight paper received as cash, the party from whom it was received would be required to take 
 it up, and the bank to whom it was sent and charged would be credited back. If sight paper, received for collection for 
 others, enter it in the Collection Register and send forward for collection. 
 
 Note No. 5. — No charge is made for collecting paper payable in the city received from banks with whom we have 
 regular dealings, nor do such banks make a charge to us in similar cases. The accommodation is reciprocal. The fee 
 for collecting is paid by the party for whom the collection is made, and retained by the bank that received the paper for 
 collection. In case, however, that one bank were required to do an amount of collecting greatly in excess of its corre- 
 spondent, an equitable compensation would be allowed by the bank that received the paper to the bank that collected it. 
 This is a matter of agreement between banks. 
 
 From Exchange National Bank, Bristol, D. J. Loomis' check on Union Bank, City, for 493.18. 
 Collected. {C. R., J.) 
 
 Credit Exchange N. Bank, Bristol, 493.18. See Note No. 2, above. 
 
 From Traders' National Bank, Kingston, A. B. Wilson's sight draft on Johnson Mfg. Co., for 
 573.90. Presented, accepted and placed among the checks. (C. R., J.) 
 
 Credit Traders' N. Bank, Kingston, 573.90. 
 
 Note. — Since Johnson Mfg. Co. have an account with us, it is only necessary, if their account is good for the 
 amount of this draft, for them to accept it, payable at our bank. We then place it among the checks, and charge it up 
 at the close of business. See list of checks for this date. 
 
 Received remittances in drafts on New York from the following banks, on account: No. 943, First 
 National of Rockford, on Broadway Bank, for 2500.00; No. 341, Geo. K. Warren & Co., Bath, on 
 Union Trust Co., for 1500.00. 
 
 Credit the banks from whom the drafts are received at once, in the Journal, and enter the drafts on the left-hand 
 side of the N. Y. Draft Register, with other drafts, later in the day. 
 
 The- following sight drafts, dated this day, on individuals and firms, received on deposit from our 
 customers, and included in deposits enumerated below, have been sent to our correspondents for our 
 credit: 
 
 W. F. Jameson, on D. B. Hill, Lyons, for 225.00. Sent to Wayne Co. National, and charged to 
 their account. [V. R., J.) 
 
 Johnson Mfg. Co., on P. G. Warren, Bristol, for 2800.00. Sent and charged to Excliango National 
 Bank, Bristol. {C. R., J.) 
 
168 THEORETICAL AWD PRACTICAL BOOKKEEPING. 
 
 Maxwell Day, on D. L. Price & Co., Kingston, for 340.00. Sent and charged to Traders' National 
 Bank, Kingston. {C. R., J.) 
 
 Jas. Angle, on A. A. Wildman, Rockford, for 1350.00. Sent and charged to First National Bank, 
 Rockford. (C. Ji., J.) 
 
 Discounted the following paper: For Johnson Mfg. Co., P. L. Paine's accepted draft, at 30 days 
 from June 15th, payable at First National Bank, Lyons, for 4325.00. Discount, 21.63; Collection, 
 4.00; Exchange, 5.41. Sent to W. C. N. Bank. {£>. R., D. T.) 
 
 For Maxwell Day, D. H. Davis' note, at 3 months from April loth, payable at Woodruff's Bank, 
 Livonia, for 1500.00. Discount, 7.50; Collection, 1.00; Exchange, 1.88. Sent Woodruff's Bank. 
 (D. R., D. T.) 
 
 For Samuel Wilder, Isaac Willis' note, at 60 days from May 10th, payable at Farmers' Bank, Can- 
 ton, for 2394.80. Discount, 9.58; Collection, 3.00; Exchange, 2.98. Sent Farmers' Bank. {D. R., 
 D. T.) 
 
 For Thos. H. Wilson, J. D. Slinltz' note, at 1 month from date, payable at Coming's Bank, Rich- 
 mond, for 398.50. Discount, 2.19; Collection, 50c.; Exchange, 50c. Sent Coming's Bank. {D. R., 
 D. T.) 
 
 For R. L. Mason, T. G. Lord's note, at 4 months from March 9th, payable at Norwich National 
 Bank, for 960.00. Discount, 3.84; Collection, 50c.; Exchange, 1.30. Sent Norwich National Bank. 
 {Z>. R., D. T.) 
 
 Received the following paper for collection: From W. F. Jameson, draft at 10 days from date, on 
 W. L. Peters & Co., Hoboken, for 918.75. Sent Chemical Bank. {C. R., C. T.) 
 
 From Jas. Angle, note of W. F. Burroughs, at 3 months from May 1st, payable at Exchange Bank, 
 City, for 1390.00. {C. R., C. T.) 
 
 From Ray Bros., note of Miller & Co., at 3 months from April 30th, payable at First National 
 Bank, Kingston, with interest, for 483.60. Sent Traders' National, Kingston. (C. R., C. T.) 
 
 From Meyer & Kauffman, draft at 15 days from date on Wendell & Holmes, Canton, for 1194.83. 
 Sent Farmers' Bank, Canton. {C. R., C. T.) 
 
 Drew the following drafts on Chemical Bank: No. 593, favor Lord & Bennett, 1141.80; Exch., 
 1.00. No. 593, favor Bingham, F. & W., 132.30; Exch., 35c. No. 594, favor Wm. Raymond, 437.00; 
 Exch., 50c. No. 595,. favor Johnson Mfg. Co., 6444.00; Exch., 6.00. No. 596, favor Ray Bros., 
 4496.00; Exch., 4.00. No. 597, favor R. L. Mason, 4346.00; Exch., 4.00. {N. Y. D. R.) 
 
 The following drafts on New York, received during the course of to-day's business, have been 
 remitted to Chemical Bank for our credit: No. 161, Woodruff's Bank of Livonia, on Sixth National, 
 499.50; No. 943, First National of Rockford, on Broadway Bank, 3500.00; No. 341, Geo. K. Warren 
 & Co., Bath, on Union Trust Co., 1500.00; No. 108, Ward's Bank of Union, on Third National, 86.90; 
 No. 347, First National of Butler, on Chemical, 583.11; No. 4043, Second National of Byron, on 
 Broadway Bank, 3586.74; No. 48, Clark's Bank of Warsaw, on Sixth National, 138.18. {N. Y. D. R. 
 See form on page 192. ) 
 
 Received the following deposits: T. J. & W. E. Upton, 1175.00; Benj. Thomas & Son, 435.57; 
 Bingham, Field & Ward, 2850.00; Samuel Wilder, 894.13; Maxwell Day, 948.75; Johnson Mfg. Co., 
 3480.00; Meyer & Kauffman, 550.00; Thos. H. Wilson, 3294.18; Jas. Angle, 1840.00; D. J. Slocum, 
 486.78; W. F. Jameson, 1500.00. (/.) 
 
 Paid the following checks: Lord & Bennett, 3500.00, 1143.80, 177.14; Bingham. Field & Ward, 
 133.40, 1893.18, 450.00; Wm. Raymond, 1000.00, 437.50, 140.00; Johnson Mfg. Co., 6450.00, 573.90; 
 Maxwell Day, 10000.00; Ray Bros., 115.00, 973.63, 4500.00; Thos. H. Wilson, 56.75, 1394.11, 250.00; 
 Stillman & Moore, 7500.00; R. L. Mason, 4250.00, 3400.00. (/.) 
 
 Collection and Exchange, from Teller's Memorandum, 6.94. (/.) 
 
 Paid cash for Office Stationery, Postage, etc., 13.18. (/.) 
 
 Balance the New York Draft Register, and carry the footing of the debits and credits for the day 
 to the Journal, the aggregate of drafts drawn on Chemical Bank to the credit of that bank, the footing 
 of Exchange column to the credit of Collection & Exchange, and remittances to Chemical Bank to the 
 debit of that bank. Also rule, foot and post tlie Discount Register and the Journal, as directed on 
 page 166. 
 
THEORETICAL AND PBAOTICAI, BOOK-KEEPING. 169 
 
 JUNE 19, 18—. 
 
 Received advice from Chemical National Bank, New York, that collection No. 858 has been paid. 
 Charge Chemical Bank in N. T. D. R., 119.75. Credit T. J. & W. E. Upton, 119.25; Coll. & Exch., 50c., in J. 
 Also that collection No. 854 has been paid. 
 
 Charge Chemical Bank, 432.50, N. Y. D. R.; and credit R. L. Mason, 432.00, and Coll. & Exch., 50c., J. 
 Received advice from First National, Rockford, that collection No. 860 has been paid. 
 Charge First National, Rockford, 143.90. Credit Wm. Raymond, 143,40; Coll. & Exch., 50c. J. 
 Received advice from Geo. K. Warren & Co., Bath, that collection No. 821 has been paid. 
 Charge Geo. K. W. & Co., 817.00, and 33 days interest, 4.49; total, 821.49. Credit Thos. II. Wilson, 820.99, and 
 Coll. & Exch., 50c. J. 
 
 From Norwich National Bank, that collection No. 833 has been paid and credited. 
 Credit Wm. Raymond, 368.40, and Coll. & Exch., 50c.; and charge Norwich National, 368.90. J. 
 
 From Farmers' Bank, Canton, that collection No. 856 has been paid. 
 
 Credit 6. H. Perkins, in Transient Accounts, 925.68; and Coll. & Exch., 50c. ; and charge Farmers' Bank, 926.18. J. 
 
 Note. — The " Transient Accounts " account, in the Deposit Ledger, is used instead of opening a separate account 
 with each person, not a regular depositor, who leaves a single note or draft for collection, or who deposits money to meet 
 a note or a draft falling due at our hank. We credit the person for whom we make the collection, or from whom we 
 receive the deposit, in the Journal, and post the item to the credit of Tran.sient Accounts, using the person's name in 
 explanation. When the amount is drawn out, we charge the person in the Journal, and post it to the debit side of 
 Transient Accounts, making the entry on the same line in the Ledger as that containing the credit to the party. 
 
 Received from Exchange National Bank, Dansville, their draft; No. 1486, on Bowery Bank, New 
 York, for 10494.75, proceeds of discount No. 486, less their charge for collection, 5.25. (/. Check 
 P. & E. inD. T.) . 
 
 Note. — The Exchange National Bank of Dansville, not being a regular correspondent, charges us one-twentieth 
 .per cent, for collecting paper sent them. This charge is about one-half of that made by us to the customer for whom 
 we discounted the note, the difference showing our profit in that transaction from collection alone. Credit Bills Dis- 
 counted, 10500.00, and debit Coll. & Exch., 5.25, in the Journal. The difference represents the draft received, which will 
 be sent and charged to Chemical Bank with others at the close of the day. 
 
 Discounts Nos. 487, 489 and 490, payable in the city, have been paid. {J. ) 
 
 Received the paper described below, from the following banks, for collection and credit: From 
 Geo. K. Warren & Co., Bath, A. L. Underbill's draft on Harvey Brown, at 2 days' sight, 942.17. The 
 drawee accepts the draft upon presentation, payable at Union Bank, City. [G, R., G. T.) 
 
 From First National, Rockford, Brooks & Smith's sight draft on 0. W. Lansing, 1455.00. Col- 
 lected and credited to First National Bank, Rockford, 1455.00. (C. R., J.) 
 
 From Farmers', Canton, S. P. Stevens' sight draft on M. M. Ward, 32.18. Collected and credited 
 to Farmers', Canton, 32.18. (C. R., J.) 
 
 From First National, Belleville, B. T. Jones & Co.'s sight draft on Yeoman & Blake, 411.75. 
 Collected and remitted draft No. 598 on Chemical Bank for 411.50. Collection, 25c. 
 
 Note. — This draft will be credited to Chemical Bank, with others, at close of banking hours. Since the First 
 National Bank of Belleville is not a regular correspondent, we make a charge for collecting the foregoing draft, but only 
 one-half of the charge we would make to an individual. No charge for exchange. See list of drafts drawn on Chemi- 
 cal Bank. 
 
 Received remittances from our correspondents, on account, as follows: From Wayne Co. National, 
 draft No. 4142, on Fifth National, New York, for 5000.00. From Third National, Newport, draft 
 No. 372, on Bowery Bank, New York, for 1287.19. (J. Credit the banks making these remittances.) 
 
 Note. — These drafts, with others received during to-day's business, will be remitted to Chemical Bank at the close 
 of banking hours, and at that time will be charged to Chemical Bank in the N. Y. D. R. 
 
 Remitted our draft. No. 599, on Chemical Bank, for 3000.00, to Norwich National Bank, on 
 account. (J. ) 
 
 Note.— This will be credited to Chemical Bank, with others, at the close of business. Debit Norwich Bank. This 
 could be entered in the N. Y. D. R. at once, but these drafts are usually torn from a stub when issued, and are entered 
 in the N. Y. D. R. from the stubs at the close of the day. 
 
170 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 The following sight drafts on individuals and firms, received on deposit, have been sent forward for 
 collection and credit: Lord & Bennett, on W. H. Atwater, Lyons, 311.50; sent and charged to Wayne 
 Co. National. Wm. Kaymond, on W. Dunn, Corning, 275.50; sent Livingston's Bank, and charged to 
 Livingston's Bank in Sundry Banks and Bankers account. ( C. E.) 
 
 Note. — Livingston's Bank not being a regular correspondent, we do not wish to open a separate account with it. 
 We therefore open an account with Sundry Bank.s and Bankers, and debit that account for the amount of the draft sent 
 Livingston's Bank. Debit Livingston's Bank in the Journal, and place S. B., the initials for Sundry Banks and Bankers, 
 after the entry, and post the item to Sundry Banks and Bankers account in the General Ledger. When the proceeds are 
 received, credit Livingston's Bank for the face of tlie draft, and post it to the credit of Sundry Banks and Bankers 
 account, on the same line with the debit to Livingston's Bank, and debit Coll. & Exch. in the Journal for the collection. 
 
 Discounted the following paper: For D. J. Slocum, Ward & Cobb's note, at 30 days from date, 
 for 3000.00, indorsed by Jas. Jackson, Jr., payable at Second National Bank, Lyons; sent Wayne Co. 
 National for collection. Discount, 16.50; Collection, 3.00; Exchange, 3.75. 
 
 For Jas. Angle, Young & Baldwin's note for 380.00, at 15 days from date, payable at Union Bank, 
 City. Discount, 1.14. 
 
 For L. J. Farnsworth, T. K. Scott's note for 1800.00, at 1 month from 15th inst., payable at 
 Exchange Bank, City. Discount, 8.70. 
 
 For Bingham, Field & Ward, Wm. Eaymond's note for 1450.00, at 5 days from this date, payable 
 at our bank. Discount, 1.93. 
 
 For Meyer & Kauffman, their note at 20 days from this date, for 2000.00, indorsed by W. M. Bond, 
 payable at our bank. Discount, 7.67. {D. R., D. T.) 
 
 Received the following paper for collection; From D. J. Slocum, his sight draft on Ward & 
 Holmes, Lyons, for 149.44; sent Wayne County National. 
 
 From Samuel Wilder, his sight draft on King & Co., Canton, for 856.90; sent Farmers' Bank, 
 Canton. 
 
 From Chas. J. Burke, his sight draft on Warren & Co., Belfast, for 1492.00; sent First National 
 Bank, Belfast. 
 
 From L. W. Perry, his sight draft on Wilson & Caldwell, Newport, for 364.87; sent Third National, 
 Newport. 
 
 From Thos. H. Wilson, his sight draft on Nellis & Knox, Rockford, for 182.50; sent First National, 
 Rockford. {G. R.) 
 
 Drew the following drafts on Chemical Bank: No. 598, favor First National, Belleville, 411.50; 
 Esch., 25c. No. 599, favor Norwich National, 3000.00. No. 600, favor T. J. & W. E. Upton, 400.00; 
 Exch., 50c. No. 601, favor Lord & Bennett, 52.25; Exch., 15c. No. 602, favor Samuel Wilder, 
 1790.26; Exch., 2.24. No. 603, favor Johnson Mfg. Co., 5992.50; Exch., 7.50. No. 604, favor D. J. 
 Slocum, 74.75; Exch., 15c. 
 
 Remitted to Chemical Bank, for our credit, the following drafts on New York, received during 
 the day: No. 1486, Exchange National Bank, Dansville, on Bowery Bank, 10494.75; No. 4142, Wayne 
 County National, on Fifth National, 5000.00; No. 372, Third National, Newport, on Bowery Bank, 
 1287.19; No. 1009, First National, Memphis, on Broadway, 63.94; No. 416, Wheeler's Bank, Belleville, 
 on Second National, 489.43; No. 3142, Richmond's Bank, Batavia, on Chemical, 6300.00; No. 113, 
 Ray Bros., on Cook & Lane, New York, 987.00. {N. Y. D. R.) 
 
 Received the following deposits, as shown by deposit tickets filed: Lord & Bennett, 3000.00; Benj. 
 Thomas & Son, 1790.00; L. J. Farnsworth, 315.00; Wm. Raymond, 775.00; Johnson Mfg. Co., 5275.00; 
 Ray Bros., 2910.00; Thos. H. Wilson, 1800.00; Stillman & Moore, 6150.00; R. L. Mason, 8219.40; Chas. 
 J. Burke, 3926.42. 
 
 Paid the following checks: T. J. & W. E. Upton, 242.69, 400.00; Lord & Bennett, 52.75, 146.90, 
 2234.46; Bingham, Field & Ward, 824.50, 640.00, 1138.55; Samuel Wilder. 2134.30, 86.25; Johnson 
 Mfg. Co., 896.81, 27.50, 6000.00; Ray Bros., 4500.00; Jas. Angle, 1690.00, 47.25; D. J. Slocum, 75.00, 
 1792.63, 250.00. {J.) 
 
 Collection and Exchange, from Teller's Memorandum, 16.92. 
 
 Rule and foot the New York Draft Register, and carry tlie results to the Journal. Rule, foot and 
 post the Discount Register and the Journal, as directed on page 166. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 171 
 
 JUNE 20, 18—. 
 
 Received adTiee that the following collections have been paid: No. 824; Coll. & Exch., 35c. No. 
 835; Coll. & Exch., 50c. No. 826; Interest, 8.16; Coll. & Exch., 1.00. (J.) 
 Collection No. 857 has been paid. 
 
 Credit Jas. Angle, 750.00, and 33 days interest, 4.13; total, 754.13. J. Be careful to make tlie proper check mark 
 in the C. T. 
 
 Received advice from Wayne County National Bank that discount No. 488 has been paid, 7500.00. 
 {J.) 
 
 Discount No. 493, payable at our bank, has been charged to the account of the maker. (</.) 
 
 Note. — This note was made by one of our depositors, and made payable at our bank. It is only necessary, there- 
 fore, since the maker's account is good for the amount, to place the note among the checks and charge it up at the 
 close of business, as a check would be charged. See list of checks for this date. All the entry necessary at this time 
 is to credit Bills Discounted in the Journal. 
 
 Received 3000.00 on deposit from W. G. Snyder. Issued him a Certificate of Deposit, No. 703. 
 Credit Certificates of Deposit in the Journal, and extend the amount in the " Deposit" column. 
 
 Note. — W. G. Snyder is not a customer, and instead of crediting him for his deposit, we, at his request, issue him 
 a Certificate of Deposit, and credit Certificates of Deposit account. A Certificate of Deposit is a paper headed with the 
 
 name and location of the bank, and the date, stating that Mr. — . has deposited dollars in this institution, 
 
 payable to himself, or order, upon return of this certificate properly indorsed, and is signed by the president or cashier, 
 or both. 
 
 Received the paper described below, from the banks named, for collection and credit: 
 
 From Farmers', Canton, P. G. White's sight draft, dated 19th, on Jas Angle, for 94.16. Presented, 
 
 accepted and pbiced among the checks. (6'. R., J. Cvedit Farmers^ Canton, 94..16.) 
 
 From D. G. Lamson's Bank, Belfast, C. A. Stone's sight draft, datedlSth, on Hart & Shepard, for 
 
 298.75. Collected. Remitted our draft on Chemical Bank for the amount, less 35c. for collection. 
 
 {C. R.) 
 
 This draft will be entered in the N. Y. D. R. at the close of business hours. No entry at this time excepting in the 
 C. R., for the reasons explained on page 169. 
 
 From Wayne County National, Weaver & Jane's sight draft on Peter Wallace & Co., for 873.35, 
 dated 19th. Collected. {Credit Wayne Co. National, 873.26. G. R., J.) 
 
 From Traders' National, Kingston, Jas. Angle's note, at 3 months from March 33d, indorsed by 
 E. H. Mott & Co., for 1400.00, payable at our bank. {C. R., C. T.) 
 
 From Wisner & Clark's Bank,"^Clyde, W. A. Hood's note, indorsed by C. A. Parry & Co., for 375.00, 
 at 30 days from May 35tli, payable at Exchange Bank, City. ( C. R., C. T. ) 
 
 From Norwich National, Warren & Sharjj's siglit draft on L. W. Gage for 163.11, dated June 19th. 
 Collected. {Credit Norwich National Bank, 162.11. C. R., J.) 
 
 The following described paper, received on deposit, has been sent to the banks named, for collec- 
 tion, and charged to their resjiective accounts: Samuel Wilder's sight draft on Tubbs «& Co., Kingston, 
 for 194.50; to Traders' National, Kingston. Thomas H. Wilson's sight draft on Norman Lacy, 
 Rockford, for 34.17; to First Ntitional, Rockford. Johnson Mfg. Co.'s sight draft on B. A. Cole, 
 Livonia, for 86.40; sent to Woodruff's Bank, Livonia. 
 
 Charge Woodruff's Bank in Sundry Banks and Bankers account. See note on page 169. 
 
 Lord & Bennett's sight draft on M. F. Burgess, Newport, for 346.94; sent Third National, New- 
 port. W. F. Jamieson's sight draft on L. M. Newton, Bath, for 733.81; sent Geo. K. Warren & Co., 
 Bath. Bingham, Field & Ward's sight draft on Newman & Gregg, Bristol, for 17.39; sent Exchange 
 National, Bristol. (C. R., J.) 
 
 Received the following paper from our customers and others for collection: From Ray Bros., sight 
 draft on G. H. Wilson & Co., Holley, for 183.90; sent City Bank, Holley. From Dunn k Cole, sight 
 draft on D. F. Coates, Geneva, for 863.50; sent Exchange, Geneva. From Thos. H. Wilson, Hadley 
 & Holmes' note, at 3 months from March 36th, for 918.92, payable at First National, Lyons; sent 
 Wayne County National, Lyons. (C. R. , C. T.) 
 
 Discounted the following paper: For R. L. Mason, Havens & Co.'s note for 450.00, at 30 days 
 from this date, payable at Union Bank, City. Discount, 2.48. 
 
172 • THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 For Samuel Wilder, his note for 1500.00, indorsed by J. A. Lindsay, at 1 month from tlie 19th inst., 
 payable at our bank. Discount, 8.00. 
 
 For Meyer & KaufPman, Robert Moore's note for 2200.00, at 20 days from this date, jiayable at First 
 National, Lyons. Discount, 8.43; Coll., 2.00; Exch., 2.75. Sent to Wayne County Ivational. 
 
 For J. A. Bush, Pliilip Warner's note for 500.00, indorsed by John Rice, at 30 days from this date, 
 payable at Union Bank, City. Proceeds paid in cash. Discount, 2.75. {D. R., D. T., J.) 
 
 Note. — J. A. Bush not being a regular depositor, we pay him the amount of the proceeds of this note in cash. 
 Write "Cash " after his name in the " For Whom Discounted " column in the Discount Register, and check it so that it 
 will not be posted. 
 
 In transactions of this kind the discount clerk draws a check for the amount of the proceeds, and gives it to the 
 person for whom the note was discounted, who signs it and checks out the amount. The check is placed among tlie 
 checks {see checks below) and charged to the maker in the Journal at the close of the day, and the entry checked as in 
 the Discount Register. 
 
 Another way, and the one pursued In the last half of this set, is to furnish the person for whom the paper was 
 discounted a check signed by the cashier, called a "cashier's check," which is cashed by the paying teller and placed 
 among the checks. This check is charged to Cashier account in the Journal, and checked where the ordinary form of 
 Journal is used, or entered in the "Checks in Detail " column where the Balance Ledger is used. 
 
 In the latter case, that is, where the Balance Ledger is used, the amount in the Discount Register would have to be 
 posted to the credit of Cashier account, by entering it in the "Deposits" column, and this would balance the account. 
 
 For Wyman & Fisher, their note, indorsed by J. H. Price, at 1 month from the 16th instant, for 
 600.00, payable at Fanners', Canton. Proceeds paid in cash. Discount, 2.90. Sent Farmers' Bank. 
 i^See note above. D. R., D. T., J.) 
 
 For Johnson Mfg. Co., Darwin & Kent's note for 1500.00, at 30 days from the 16tli inst., payable 
 at Norwich National, Norwich. Discount, 7.25; Coll., 1.00; Exch., 1.88. Sent to Norwich National. 
 
 Drew the following drafts on Chemical Bank: No. 605, favor Johnson Mfg. Co., 998.75; Exch., 
 1.25. No. 606, favor D. C. Allison, 17.00; Exch., 15c. No. 607, favor W. F. Jameson, 244.50; Exch., 
 50c. No. 608, favor L. S. Lansing, 116.00; Exch., 25c. No. 609, favor D. J. Slocum, 4993.75; Exch., 
 6.24. No. 610, favor P. J. Dudley, 73.50; Exch., 15c. No. 611, favor Meyer & Kauifman, 2496.87; 
 Exch., 3.12. No. 612, favor W. B. Sage, 1000.00; Exch., 1.25. No. 613, favor Lord & Bennett, 1598.00; 
 Exch., 2.00. No. 614, favor D. G. Lamson's Bank, 298.50; Exch., 25c. 
 
 Remitted to Chemical Bank, for our credit, the following drafts on New York, received during the 
 day: No. 1042, First National, Princeton, on Bowery Bank, 192.83; No. 213, Woodrufi's, Livonia, on 
 Sixth National, 1482.90; No. 194, Ward's Bank, Union, on Third National, 18.25; No. 1516, Exchange 
 National, Dansville, on Bowery, 411.07; No. 2104, Commercial, Corning, on Metropolitan, 1242.16; No. 
 13492, First National, Waverly, on Union Trust Co., 27.90; No. 826, City Bank, Holley, on Broadway, 
 146.83; No. 1513, Exchange, Geneva, on Third National, 875.00; No. 482, First National, Butler, on 
 Chemical, 218.11. 
 
 Received the following deposits: W. F. Jameson, 584.00; D. J. Slocum, 1395.18; Jas. Angle, 
 2873.00; Thos. H. Wilson, 843.10; Meyer & Kauflman, 4200.00; Johnson Mfg. Co., 5125.00; Samuel 
 Wilder, 943.92; Bingham, Field & Ward, 550.00; Benj. Thomas & Son, 1975.00; Lord & Bennett, 2400.00. 
 
 Opened an account with J. H. Wentworth & Co., and received a depiosit of 1250.00. 
 
 Paid tlie following checks: Johnson Mfg. Co., 1000.00, 396.00, 2584.00, 3000.00; T. J. & W. E. 
 Upton, 985.00, 146.32, 75.00, 843.90; W. F. Jameson, 245.00, 2940.00, 133.25; D. J. Slocum, 5000.00; 
 Jas. Angle, 3500.00, 200.00, 75.00, 186.90, 94.16; Thos. H. Wilson, 3000.00, 2735.50. Meyer & Kauff- 
 man, 2500.00, 1500.00, 49.26; Lord & Bennett, 85.00, 242.50, 1600.00; G. H. Perkins {T. A.), 925.68; 
 J. A. Bush, 497.25 {check tins and the following entry as explained in note above) ; Wyman & Fisher, 597. 10. 
 
 Collection and Exchange, from Teller's Memorandum, 27.85. 
 
 Rule, foot and post, as heretofore instructed. 
 
 JUNE 21, 18-. 
 
 Received advices that the following collections have been paid: No. 878; Coll. & Excli., 50c. 
 No. 879; Coll. & Exch., 50c. 
 
 Received from First National Bank of Belfast a draft. No. 8040, on Ninth National Bank, for pro- 
 ceeds of No. 880, less 50c. for collection. 
 
 Credit Coll. & Exch., 50c., the difference between o-ur charge and that of Belfast Bank; and credit Clias, .T. Burke, 
 1491.00. 
 
 No. 881; CoU. & Exch., 50c. No. 882; Coll & Exch., 50c. 
 
 Credit L. W. Perry, in Transient Accounts, for the proceeds of collection No. 881. 
 
 Collection No. 832 has also been paid. (cT.) 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 173 
 
 Discounts Nos. 493, 494 and 495 have been paid. (/. ) 
 
 No. 493 was made by one of our depositors, and since his account is good for the amount, we place the note among 
 the checks and charge it up with the cliecks, at the close of the day. At this time credit Bills Discounted only. 
 
 Received the following described paper, from the banks named, for collection. All of the sight 
 drafts were paid upon presentation. 
 
 From Third National, Newport, Clark & Co.'s sight draft, dated 19th, on J. H. Rich, for 197.46. 
 
 From Exchange National, Bristol, L. M. DePuy's sight draft, dated 30tli, on M. W. Cheney, City, 
 for 388.19. 
 
 From Wayne County National, J. F. Osgood's note at 90 days from April 19tli, indorsed by W. P. 
 Follett, payable at Union Bank, City, for 1385.00. 
 
 From Cascade Bank, Portage, Norman Seymour's sight draft, dated 19th, on W. F. Lawrence, City, 
 for 843.90. Remitted draft No. G15, on Chemical Bank, for tlie proceeds, less 25c. for collection. 
 
 From Traders' National, Kingston, Duncan Jones' sight draft, dated 19th, on H. P. Randall, for 
 246.83. (C. R.,J.) 
 
 The following paper, received on deposit, has been sent to the banks named for our credit: D. J. 
 Slocum's sight draft, dated 20th, on Frank W. Brown, Corning, for 382.00; sent Livingston's Bank, 
 Corning. 
 
 Charge Livingston's Bank, in Sundry Banks and Bankers account, for the draft. 
 
 Maxwell Day's sight draft, dated 21st, on Wing & Walker, Rockford, for 181.40; sent and charged 
 to First National Bank, Rockford. J. H. Wentworth & Co.'s sight draft, dated 30th, on Holmes & 
 Co., Geneva,, for 23.82; sent Excliange Bank, Geneva. 
 
 Charge Sundry Banks for the draft sent Exchange Bank. 
 
 Wm. Raymond's sight draft, dated 21st, on H. A. Miller, Lyons, for 392.50; sent Wayne County 
 National. R. L. Mason's sight draft, dated, 31st on M. F'. Griffith, Canton, for 49.80; sent Farmers', 
 Canton. 
 
 Discounted the following paper: For H. W. Phillips, his note, indorsed by H. Chase and Andrew 
 Springer, for 1000.00, at 30 days from this date, payable at Wayne County National, Lyons. Discount, 
 5.50; Coll., 1.00; Exch., 1.25. Proceeds paid in cash. {See note on page 172.) 
 
 For R. L. Mason, Shelby & Co.'s note, at 30 days from the 19th, payable at Norwich National, 
 for 575.00. Discount, 2.97; Coll.,^50c.; Exch., 73c. 
 
 For Samuel Wilder, Jones & Hardy's note, at 30 days from the 20th, payable at Union Bank, City, 
 for 173.91. Discount, 93c. 
 
 For Morgan & Seelye, H. A. Wood's note, indorsed by L. M. Lay, at 30 days from this date, pay- 
 able at Exchange Bank, City, for 1485.00. Discount, 5.69. Proceeds paid in cash. 
 
 Drew the following drafts on Chemical Bank, No. 615, favor Cascade Bank, Portage, for 843.65; 
 Exch., 25c. No. 616, favor Chas. J. Burke, for 9990.00; Exch.^ 13.50. No. 617, favor R. L. Mason, 
 for 3188.00; Exch., 3.74. No. 618, favor R. W. Bush, for 18.50; Exch., 15c. No. 619, favor A. B. 
 Ward, for 143.00; Exch., 35c. No. 620, favor Jerome Sackett, for 83.19; Exch., 15c. 
 
 Remitted Chemical Bank the following drafts and cheeks on New York, received during the course 
 of to-day's business: No. 8046, First National, Belfast, on Ninth National, 1491.50; No. 1143, Second 
 National, Westboro, on Bowery, 188.63; No. 896, Grangers' Bank, Jackson, on Metropolitan, 864.50; 
 No. 693, Exchange Bank, Norwich, on Sixth National, 92.18; No. 13483, Manufacturers' Bank, Middle- 
 town, on Ninth National, 1143.75; No. 132, F. W. Richmond, Goshen, Check on Chemical, 945.00. 
 
 Received the following deposits: D. J. Slocum, 1294.11; Wm. Raymond, 3250.00; Maxwell Day, 
 3960.12; L. J. Farnsworth, 3118.07; Lord & Bennett, 6190.83; T. J. & W. E. Upton, 4114.60; J. H. 
 Wentworth & Co., 8673.95; R. L. Mason, 5000.00. 
 
 Paid the following checks: Chas. J. Burke, 10000.00, 546.50, 1850.00; R. L. Mason, 134.65 (note), 
 5000.00; Jas. Angle, 314.98, 1165.00, 123.16, 85.00; Stillman & Moore, 3500.00, 1492.50; Johnson Mfg. 
 Co., 1122.50, 97.00, 2452.75; Samuel Wilder, 186.42, 1729.03; Bingham, Field & Ward, 916.40, 2433.76; 
 Benjamin Thomas & Son, 10000.00; H. W. Phillips, 993.25 (/); Morgan & Seelye, 1479.31 {\/). 
 
 Collection and Exchange, from Teller's Memorandum, 11.96. 
 Add, rule and post, as heretofore directed. 
 
174 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 JUNE 22, 18—. 
 
 Eeceived advices that the following collections have been ])aid: No. 827; Coll. & Exch., 1.00. 
 No. 828; Coll. & Exch., 50c. No. 829; Coll. & Exch., 25c. No. 830; Coll. & Exch., 50c. 
 
 Received from Exchange Bank, Geneva, their draft No. 910, on First National Bank, New York, 
 for proceeds of Collection No. 896. Amount of draft, 803.25; Collection, 25c. 
 
 Credit Dunn & Cole, in Transient Accounts account, 863.00; and credit Collection & Exchange account, 25c. Be 
 careful to make the proper check mark in tlie C. R. Charge Chemical Bank in N. Y. D. R. for Collection No. 828. 
 
 Collection No. 834, payable in the city has been paid. 
 Credit S. H. Lowe, in Transient Accounts, 918.30. 
 
 Received from Woodruff's Bank, Livonia, draft No. 317, on Sixth National, for proceeds of Collec- 
 tion No. 891, less their charges for collection. 
 
 Credit Woodruff's Bank in Sundry Banks account for 86.40, and debit Collection & Exchange, 13c. The draft on 
 New York will be entered with others in the N. Y. D. R. at the close of the day. 
 
 Collection No. 876 has been returned protested, and the drawers, Lord & Bennett, to whom it was 
 credited, have given us their check for its face, 311.50, and the cost of protest, 1.35. 
 
 Credit the bank to which it was sent for the total amount, 212.85. L. & B.'s check for the same amount will be 
 charged up with others at close of the day. Mark the collection " Protested " m the " Remarks " column in the C. R. 
 
 Collection No. 895 has been returned dishonored. 
 
 No entry is required. The paper was received for collection, hence it is only necessary to return it to the drawers, 
 Ray Bros. It is not customary to make a charge for our trouble unless the collection is made. Mark it "Returned*" or 
 " Ret." in the " Remarks '' column in the C. R. 
 
 Note. — When sight drafts are left for collection, it is customary for the owner to request the bank not to protest 
 it if It is not paid. In such a case a " No Protest " is pinned to the draft, and if not paid it is returned to us and we 
 return it to the owner. When we receive a draft on deposit, we protest it if not paid, to hold the drawer. 
 
 Discount No. 496 has been paid. 
 
 Discount No. 498, not having been paid, has been protested. 
 
 No entry. Mark the note "Protested" in the "Remarks" column in the D. T. 
 
 Note. — Many banks have an account with Protested Paper, debiting Protested Paper and crediting Bills Dis- 
 counted for dishonored Bills Discounted; but the custom is becoming general to leave all discounted paper in the Bills 
 Discounted account until it is either paid, a judgment obtained, or it is found to be worthless. In case judgment is 
 obtained, Judgment Account is debited for the entire amount, face of note, interest and costs, and Bills Discounted is 
 credited for face of note, and Interest for the interest upon it. In case the judgment proves to be worthless, Loss and 
 Gain is debited and Judgment credited. 
 
 Received advice that Discount No. 491 has been paid. 
 
 Received the following described paper, from other banks, for collection and credit, all of which 
 was paid upon presentation: From Wayne County National, W. L. Coot's sight draft on Myron G. 
 Peck, dated 21st, for 934.18, and Henry J. Lansing's sight draft on Maxwell Day, dated 20th, for 
 74.75. Presented the latter to drawee, who has accepted it, payable at our bank. The draft was placed 
 among the checks. {See list of checks paid.) 
 
 From Norwich National, Jacob Sterling's sight draft on Newman & Barry, dated 20th, for 13.40. 
 
 From First National, Rockford, Dwight Weaver's sight draft on Colton & Manning, dated 21st, 
 for 97.80. 
 
 From First National Bank, Jefferson, Homer Sprague's sight draft on Wm. H. Lyon, dated 20th 
 Inst., for 114.93. Collected, and remitted our draft No. 621, on dhemical Bank, for 114.78. Collec- 
 tion, 15c. (C. E. No entry at this time in N. Y. D. R.) 
 
 The following paper received on deposit, payable abroad, has been sent to the banks named for 
 collection: Samuel Wilder's sight draft, dated to-day, on W. D. Jones, Newport, for 136.92; sent to 
 Third National, Newport. James Angle's sight draft, dated to-day, on L W. Woolson, Bristol, for 
 23.44; sent Exchange National, Bristol. James Angle's sight draft, dated to-day, on Hurd & Thomas, 
 Canton, for 61.27; sent Farmers' Bank, Canton. (C. R., J.) 
 
 Received the following paper for collection: From T. J. & W. E. Upton, Warren Lee's note, at 
 90 days from April 3d, for 500.00, payable at Union Bank, City. From Johnson Mfg. Co., H. Burt's 
 note, at 30 days from June 7th, for 873.40, jiayable at Lansing's Bank, Lyons; sent Wayne County 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 175 
 
 National. From David Gray, his sight draft on Geo. H. Newell, Chester, dated this day, for 94.50; 
 sent First National, Chester. 
 
 Discounted the following paper. For Henry Sears, Thomas Brooks' note, indorsed by Frank 
 Woodbury & Son, at 30 days from date, payable at Union Bank, City, for 525.00. Discount, 3.89. 
 Paid cash for proceeds. 
 
 For Stillman & Moore, Fanning & Peck's note, at 20 days from date, payable at Exchange Bank, 
 City, for 1500.00. Discount, 5.75. 
 
 For Wm. Eaymond, Ellis & Hayden's note, at 30 days from the 18th inst., payable at First 
 National, Lyons, for 2650.00. Discount, 12.81; Coll., 2.00; Exch., 3.31. Sent Wayne Co. National. 
 
 Drew the following drafts on Chemical Bank: No. 621, favor First National, Jefferson, 114.78; 
 Exch., 15c. No. 622, favor D. J. Slocum, 200.00; Exch., 50c. No. G23, favor Johnson Mfg. Co., 
 3500.00; Exch., 4.38. No. 624, favor J. H. Wentworth & Co., 100.00; Exch., 35c. No. 635, favor 
 L. J. Farnsworth, 3000.00; Exch., 3.75. 
 
 Kemitted Chemical Bank the following di'afts on New York, received among the deposits: No. 
 1009, Howard's Bank, Dundee, on Bowery, 446.94; No. 464, First National, Preston, on Manufacturers 
 and Traders, 133.39; No. 104, J. H. Clark's Bank, Woodville, on Croton, 373.91; No. 1264, Second 
 National, Plainville, on Ninth National, 3500.00; No. 749, Lamont & Thomas, Morrisville, on Sixth 
 National, 383.46; No. 6891, First National, Williamstown, on Chemical, 11.18; No. 317, Woodruff's 
 Bank, Livonia, on Sixth National, 86.28; No. 910, Exchange Bank, Geneva, on First National, 863.35. 
 
 Eeceived the following deposits: Samuel Wilder, 1947.80; D. J. Slocum, 375.00; E. L. Mason, 
 1300.00; Stillman & Moore, 900.00; Jas. Angle, 1349.63; Lord & Bennett, 4480.00; Bingham, Field & 
 Ward, 683.11; J. H. Wentworth & Co., 3963.43; Benj. Thomas & Son, 1646.92. 
 
 Paid the following chfecks: D. J. Slocum, 183.41, 943.86, 100.00, 200.00; L. J. Farnsworth, 3000.00; 
 Wm. Eaymond, 163.50; 394 05, 873.13; Lord & Bennett, 4000.00, 1263.44, 212.85; Johnson Mfg. Co., 
 3500.00, 150.00, 150.00; J. H. Wentworth & Co., 1839.38, 163.90, 100.00; T. J. & W. E. Upton, 113.73, 
 986.09, 350.00; Bingham, F. & W., 3150.00; Maxwell Day, 74.75; Henry Sears, 533.11. 
 
 Collection and Exchange, from Teller's Memorandum, 23.45. 
 
 Add, rule and post, as heretofore directed, after which take trial balance of the Ledgers; of the 
 General Ledger to ascertain whether it is in balance, and of the Deposit Ledger to ascertain wliether 
 the difference corresponds with the difference between the sides of the Deposits account in the General 
 Ledger. If correct, your results will agree with those on page 183. 
 
 Note. — The Deposit Ledger and the Deposit column in the Journal will hereafter be dispensed with, and the Balance 
 Ledger, explained and illustrated on pages 198-201, will be used instead. 
 
 Close the accounts in the Deposit Ledger and open them in the Balance Ledger, as explained in 1 
 and 2, page 199. {See illustration on payes 200 and 201.) 
 
 JUNE 24, 18—. 
 
 Received the following paper, from the banks named, for collection: From Wayne County National 
 Bank, J. E. Hill's sight draft, dated 23d inst., on Samuel Wilder, for 211.93. The drawee accepts the 
 draft upon presentation, payable at our bank. ( C. R. and J. ) 
 
 The draft was placed among the checks. See checks below. Credit Wayne County National Bank. 
 
 From Norwich National Bank, D. B. Jones' check, dated 21st, on Union Bank, City, for 865.70. 
 {C. R. and J.) 
 
 Credit Norwich National with face of check. 
 
 From Farmers', Canton, Maxwell Day's note, indorsed by Jas. Brackett, for 1350.00, at 30 days 
 from May 35th, payable at our bank, with interest. (C. R. and C. T.) 
 Write "Int." small, over the amount in each book. 
 
 From Darrow's Bank, Peoria, Johnson Mfg. Co.'s check, dated 21st, on our bank, indorsed by 
 Klein & Co., for 4500.00. Placed the check among the checks, and remitted Darrow's Bank draft No 
 636, on Chemical National Bank, for the amount, less 2.81. {C R.) 
 
 Draft on Chemical National Bank will be entered in N. Y. D. R. with other drafts. 
 
 The following sight paper, received on deposit, has been sent to tlie banks named for our credit: 
 Johnson Mfg. Co.'s sight draft, dated to-day, on J. W. Mead, Lyons, for 423.34; sent Wayne County 
 National. D. J. Slocum's sight draft, dated to-day, on W. G. Shaver, Canton, for 193.42; sent Far- 
 
176 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 mers', Canton. J. H.Wentworth & Co.'s sight draft, dated to-day, on P. A.Wood, Kingston, for 345.23; 
 sent Traders' National, Kingston. Case & Weaver's check, dated 22d, on First National, Newport, 
 indorsed by Maxwell Day, for 583.75; sent Third National, Newport. (C R. and J.) 
 
 Eeceived the following paper, payable abroad, for collection: From E. L. Mason, J. L. White's 
 note for 285.00, at 3 months from April 26th, payable at Second National Bank, Rockford; sent to First 
 National Bank, Eockford. {0. R. and G. T.) 
 
 From Meyer & KaufEman, their sight draft, dated to-day, on D. J. Dudley, Bath, for 332.15. 
 
 Eeceired advice from Norwich National Bank that collection No. 831 has been paid. 
 
 Credit Johnson Mfg. Co., 910.63, in "Deposits" column in B. L. (write the letter C against the amount, to indicate 
 that it is a collection), and Coll. &Exch., 50c., in '■Coll. & Exch. "column in .1. (see J., pages 200-301); and debit Norwich 
 National, 911.13. 
 
 Eeceived advice from Farmers' Bank that collection No. 833 has been paid. Coll. & Excli., 1.00. 
 
 Collections Nos. 837 and 872 have been paid. 
 
 Credit Stillman & Moore, 318.20, in B. L., and Geo. K. Warren & Co., 942.17, in J. 
 
 Discount No. 498, which was protested on the 22d, has been paid, with 83c. interest and 1.35 
 protest charges. 
 
 Credit Bills Discounted, 2500.00; Discount, 88c.; and Coll. & Exch., 35c. The remaining 1.00 was paid to the 
 Notary Public for protesting, and requires no entry. Check "P. & E." in the D. T., placing the date over such checli. 
 
 Discounts Nos. 500 and 501 have been paid. 
 
 No. 500 was made by one of our ctistomers and has been placed among the checks. See checks. 
 
 Discounted the following paper: For W. F. Jameson, Hardy & Davis' note, at 15 days from date, 
 payable at Union Bank, City, for 2000.00. Discount, 6.00. 
 
 For Johnson Mfg. Co., Healy & King's note, at 10 days from date, payable at Woodruff's Bank, 
 Livonia, for 1750.00. Discount, 3.79; Coll., 1.00; Exch., 2.19. Sent to Woodruff's Bank. 
 
 Drew the following drafts on Chemical National Bank: No. 626, favor Darrow's Bank, Peoria, for 
 4497.19; Exch., 2.81. No. 627, favor Johnson Mfg. Co., for 4500.00; Exch., 5.63. No. 628, favor Jas. 
 Angle, for 397.84; Exch., 50c. No. 629, favor Samuel Wilder, for 450.00; Exch., 50c. No. 630, favor 
 Byron Day, for 117.92; Exch., 25c. 
 
 Sent the following paper, received during the day, to Chemical National Bank, for our credit: 
 No. 3043, First National, Fort Scott, on Park Bank, 1450.00; No. 1682, Traders' National, Oakland, on 
 Ninth National, 1942.16; No. 1142, Third National, Bancroft, on Metropolitan, 234.91; No. 877, Ex- 
 change Bank, Mt. Morris, on Bowery, 116.27; Miners' Bank, Coalburg, No. 229, on Ciiemical, 386.34. 
 
 Eeceived the following deposits: Johnson Mfg. Co., 3118.56; D. J. Slocum, 376.18; Lord & Bennett, 
 1750.00; J. n. Wentworth & Co., 945.23; T. J. & W. E. Upton, 2115.00; Maxwell Day, 1846.75; Chas. 
 J. Burke, 3500.00. {B. L. See 6, page 199.) 
 
 Paid the following checks: Samuel Wilder, 450.00, 211.92, 1500.00; Jas. Angle, 397.84, 500.00, 
 673.60; Bingham, Field & Ward, 6000.00; Stillman & Moore, 725.00, 1293.20, 65.00; Lord & Bennett, 
 93.42, 846.18; Johnson Mfg. Co., 4500.00; W. F. Jameson, 12000.00; L. W. Perry {T. A.), 364.37; 
 Dunn & Cole {T. A.), 863.00. {B. L. See 3 and 4, liage 199.) 
 
 Collection & Exchange, from Teller's Memorandum, 7.92. 
 
 Rule and foot the Discount Eegister, as heretofore, and post as instructed in 7 and 18, page 199. 
 Write the letter D against the amounts from the Discount Eegister, in the " Deposits" column, B. L., 
 to distinguish them from the other credits. Extend, foot and prove the Balance Ledger, as instructed 
 9-18, page 199; then foot and rule the other books as heretofore; after which post the Journal. 
 
 JUNE 25, 18—. 
 Certified Ray Bros, check for 1500.00. 
 
 Note. — The teller certifies a check presented for certification, provided the maker's account is good for the amount, 
 and places a slip memorandum on a spindle, giving the name of the maker and tlie amount of the check. Tlie book-keeper 
 debits the depositor for such check from this slip, and credits Certified Checks account. In posting, it will be necessary 
 to open an account with Certified Checks in the Balance Ledger; see page 200. Debit Certified Checks when a certified 
 check is paid (" Checks in Detail" column, B. L.). 
 
 Certificate of Deposit No. 703 has been paid. 
 
 Eeceived the following paper, from the banks named, for collection: From Ninth National, New 
 York, A. S. Barnes & Co.'s sight draft on Meyer & Kauffman, dated 22d, for 681.23. Accepted by 
 Meyer & Kauffman and placed among the checks. Remitted Ninth National draft No. 631, on Chemi- 
 cal National, for 680.98. Collection, 25c. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 177 
 
 From Norwich National, Avery Childs' check on Union Bank, City, dated a4th, for 318 75. 
 Collected. 
 
 From Fanners', Canton, Harvey Miller's sight draft on James Clark & Son, dated 33d, for 464.33. 
 Collected. 
 
 Prom Exchange National, Bristol, Lewis Jenkins' note, indorsed by Hiram Bennett, i)ayable at 
 Union Bank, City, for 931.83, at 30 days from May 3.5th. 
 
 From Manufacturers' Bank, Norwalk, E. L. Mason's note, indorsed by Wm. Phillips, payable at 
 our bank, for 1350.00, at 90 days from March 38th. 
 
 Tlie following sight paper, received on deposit, lias been sent to the banks named for collection 
 and credit: Samuel Wilder's sight draft on Wellman & Co., Canton, dated to-day, for 336.43; sent 
 Farmers', Canton. Horace Maynard's check on First National Bank, Bath, dated 33d, indorsed by 
 Stillnian & Moore, for 311.75; sent to Geo. K. Warren & Co. Eay Brothers' sight draft on Hill & Co., 
 Rockford, dated to-day, for 147.30; sent to First National, Rockford. 
 
 Received the following paper, payable abroad, for collection : From T. J. & W. E. Upton, Pomeroy 
 & Wolcott's note, at 30 days from May 30th, for 650.00, jwiyable at National Park Bank, New York; 
 senj; Chemical National. From J. H. Wentworth & Co., King & Griffith's note, at 60 days from May 
 33d, for 871.45, payable at Second National, Lyons; sent Wayne County National, From D. J. Pease, 
 S. B. Bryan's note, at 90 days from A\)n\ 11th, for 378.75, payable at First National, Newport; sent 
 Third National, Newport. 
 
 Received the following drafts, from the banks named, on account: No. 961, Exchange National, 
 Bristol, on Broadway Bank, for 5330.00; No. 3301, Geo. K. Warren & Co., Bath, on Union Trust Co., 
 for 1375.00; No. 487, Third National, Newport, on "Bowery Bank, for 3915.00. 
 
 Received draft No. 3143, on National Park Bank, New York, from First National, Chester, for 
 proceeds of (collection No. 918. Amount of draft, 94.37. 
 
 Enter draft in N. Y. D. R. with others at the close of business. Credit David Gray, under "Transient Accounts," 
 94.25 (B. L.); Coll. & Exch., 12c. (J.) 
 
 Charged collection No. 835 to Chemical National, in N. Y. 1). R., at its face, and credited W. F. 
 Jameson for the amount, less 50c. collection. 
 
 Received advice from Wayne Co. National that collection No. 836 has been paid and credited. 
 
 Credit R. L. Mason for tlie amount, less 25c. collection. 
 
 Collection No. 886, payable at our bank, and which was made by one of our depositors, has been 
 placed among the checks. 
 
 Received from Second National, Palmyra, their draft No. 1873, on Bowery Bank, for 1799.50, i)ro- 
 ceeds of Discount No. 497. 
 
 Received advice from Third National, Newport, that Discount No. 499 has been paid. 
 
 Discount No. 503 has been paid. 
 
 Discounted the following paper: For J. H. Wentworth & Co., L. W. Gage's note for 500.00, at 15 
 days from date, payable at Second National Lyons. Discount, 1.50; Coll., 50c.; Exch., 63c. 
 
 For Maxwell Day, Payne & Harris' note for 1630.00, at 10 days from tlie 34th inst., payable at 
 Union Bank, City. Discount, 3.34. 
 
 For Henry L. Fish, his note for 450.00, indorsed by H. Sibley, at 30 days from the 34th inst, 
 payable at our bank. Discount, 1.65. Proceeds paid in cash. 
 
 Enter this note in D. R. , same as you did similar ones heretofore, only do not check it, and credit ' ' Cashier Account," 
 bi "Deposits " colimin, B, L., at the close of the day. 
 
 Drew the following drafts on Chemical National Bank: No. 631, favor Ninth National Bank, for 
 680.98; Exch., 35c. No. 633, favor Chas. J. Burke, for 900.00; Exch., 1.13. No. 633, favor T. J. & 
 W. E. Upton, for 1300.00; Exch., 1.50. No. 634, favor Lord & Bennett, for 1318.09; Exch., 1.65. 
 No. 635, favor L. J. Famsworth, for 4350.00; Exch., 5.31. No. 636, favor Maxwell Day, for 93.18; 
 Exch., 15c. 
 
 Remitted the following drafts on New York to Chemical National, for our credit: No. 961, 
 Exchange National Bank, Bristol, on Broadway Bank, 5330.00; No. 3301, Geo. K. Warren & Co.'s 
 Bank, Bath, on Union Trust Co., 1375.00; No. 487, Third National Bank, Newport, on Bowery Bank, 
 3915.00; No. 3143, First National Bank, Chester, on National Park Bank, 94.37; No. 1873, Second 
 National Bank, Palmyra, on Bowery Bank, 1799.50; No. 3344, Chapin's Bank, Newark, on Metropoli- 
 tan, 693.84; No. 7403, Fourth National Bank, Monroe, on Ninth National, 5000.00; No. 973, Hamilton 
 & Co.'s Bank, Livonia, on Chemical, 344.73. 
 
178 THEORETICAL AND PEACTICAL BOOKKEEPING. 
 
 Received the following deposits: Samuel Wilder, 3341.18; W. F. Jameson, 5163.93; Stillman & 
 Moore, 846.38, Ray Brothers, 1191.71; Meyer & Kauffman, 450.00; Johnson Mfg. Co., 3360.00; Max- 
 well Day, 1500.00; J. H. Went worth & Co., 761.50. {See 5, page 199.) 
 
 Paid the following checks: Benj. Thomas & Son, 10000.00; Chas. J. Burke, 1941.83, 3463.71, 
 900.C0; S. II. Lowe (7". A.), 918.30; T. J. & W. E. Upton, 1639.73, 1300.00, 383.61; Lord & Bennett, 
 693.30, 1318.09, L. J. Parnsworth, 4350.00, 1153.37; Meyer & Kauffman, 681.33; Maxwell Day, 835.00, 
 113.50, 93.18: Jas. Angle, 1400.00; Thos. H. Wilson, 300.00; Ray Bros., 1500.00; Cashier, 448.35. 
 {See 3 and 4, page 199.) 
 
 Collecbion and Exchange, from Teller's Memorandum, 16.85. 
 
 Add, rule and post, as directed on page 176. 
 
 JUNE 26, 18—. 
 
 Received the following paper, from the Ijanks named, for collection : 
 
 From First National, Rockford, Garrett, Wilson & Co.'s sight draft on Thos. H. Wilson, dated 35th 
 inst., for 517.35. The drawee accepts it upon presentation, payable at our bank, and we place it 
 among the checks. 
 
 From National Exchange Bank, Warsaw, H. A. Strong's check on Union, City, dated 34th, for 
 643.50. Collected, and remitted draft No. 637, on Chemical, for 643.10. Collection, 40c. (C. R.) 
 
 From Traders' National, Kingston, F. J. Hinman's sight draft on E. T. Woodford, City, dated 
 35th, for 17.03. Collected. . 
 
 The following sight jiaper, received on deposit, has been sent forward for collection and credit 
 R. L. Mason's sight draft on P. W. Leach, LyoHS, dated to-day, for 63.18. T. J. & AV. E. Upton's 
 sight draft on Henry D. Warren, Bristol, dated 35th inst., for 143.37. Clark & Hoadley's check on 
 Second National, Bath, dated 34th inst., for 587.61, and indorsed by Jas. Angle. R. L. Mason's sight 
 draft on Benton & Ward, Lebanon, dated to-day, for 1643.18. Sent to First I^ational Lebanon. 
 
 Received the following paper, payable abroad, for collection: From Maxwell Day, Bellows & Co.'s 
 note, for 375.00, at 3 months from April 3d, payable at First National, Lyons, with interest. From 
 Johnson Mfg. ('o., P. L. Sill's note, for 1300.00, at 3 months from May 4th, payable at First National, 
 Rockford, with interest. From Samuel Wilder, Alex. Weaver's accepted draft, at 10 days from 33d 
 inst., for 43.12, j^ayable at First National Bank, Canton, and indorsed by Byron Hill. 
 
 Received advice that Collection No. 938 has been paid. Collection, 50c. 
 
 Discount No. 504 has been charged to the account of the makers. 
 
 Certified Chas. J. Burke's check for 1000.00. {Cr. Cerhfied Checks tii B. L.) 
 
 Ray Brothers' check, certified by us on the 35th, has been paid. {See note on 2}age 176.) 
 
 Issued Certificate of Deposit No. 704 to Wm. P. Simpson, for 1500.00. 
 
 Discounted the following paper: For Thos. H. Wilson, his note, dated to-day, indorsed by Walker 
 & Eaton, payable at our bank 10 days from date, for 1000.00. 
 
 For A¥. F. Jameson, Barry & Co.'s note, at 40 days from 13th inst., for 3683.40, payable at First 
 National, Lyons. Colh, 2.00; Exch., 3.35. 
 
 For R. L. Mason, his note, indorsed by F. R. Sickles and N. M. French, at 30 days from the 8th , 
 for 3500.00, payable at our bank. 
 
 For B. J. Blake, his note at 15 days from date, indorsed by J. D. Cox, payable at our bank, for 
 1800.00. Proceeds paid in cash. 
 
 For Benj. Tliomas & Son, Horace Bly's note for 943.18, at 10 days from 33d, payable at First 
 National, Canton. Coll., 50c.; Exch., 1.18. 
 
 Drew the following drafts on Chemical National Bank: No. 637, favor National Exchange Bank, 
 Warsaw, 642.10; Excli., 40c. No. 638, favor B. H. Clark, 450.00; Exch., 50c. No. 639, favor Johnson 
 Mfg. Co., 1500.00; Exch., 1.88. No. 640, favor T. J. & W. E. Upton, 379.40; Exch., 50c. No. 641, 
 favor Maxwell Day, 633.13; Exch., 75c. No. 643, favor Ray Bros., 313.96; Exch., 50c. 
 
 Remitted the following drafts on New York, received during the day, to Chemical National Bank: 
 No. 613, drawn by Third National of Covington, on Ninth National, for 713.43; No. 1046, drawn by 
 Exchange National of Norwich, on Broadway, for 1011.76; No. 4639, drawn by Merchants' National of 
 .Harwood, on Bowery, for 13.14; No. 146, drawn by Union National of Greenville, on Chemical, for 
 319.35; No. 13344, drawn by Cascade Bank, Portage, on Sixth National, for 1320.00. 
 
THEOKETICAL AND PRACTICAL BOOK-KEEPING. 179 
 
 Received the following deposits: T. J. & W. E. Upton, 1843.19; 11. L. Mason, 2876.75; D. J. 
 Slocum, 983.20; Jas. Angle, 1171.55; L. J. Farnsworth, 550.00; Johnson Mfg. Co., 4325.00; Wm. 
 Raymond, 1000; Benj. Thomas & Son, 628.00; Thos. H. Wilson, 652.75. 
 
 Paid the following checks: Johnson Mfg. Co., 1500.00, 1074.83, 300.00; Chas. J. Burke, 603.42, 
 2500.00, 1000.00; T. J. & W. E. Upton, 83.79, 279.40, 500.00; Meyer & Kauffman, 1200.00, 4500.00; 
 Maxwell Day, 622.12, 1741.96; Ray Bros., 160.00, 286.80, 212.96; Bingham, Field & Ward, 3000.00; 
 Thos. H. Wilson, 517.35. ; Cashier, 1794.60. 
 
 Collection and Exchange, from Teller's Memorandum, 21.65. 
 
 JUNE 27, 18—. 
 
 Received the following paper, from the ))auks named, for collection: 
 
 From W^ayne County National, C. J. Burke's check on our bank, dated 24th, favor Lewis & Co., 
 for 675.00. 
 
 From American Exchange Bank, New York, H. B. Claflin & Co.'s sight draft, dated 25th, on T. J. 
 & W. E. Upton, for 526.83. Accepted by drawee upon presentation. Remitted American Exchange 
 Bank our draft. No. 643, on Chemical Bank, for the face of the Collection, less 33c. collection. 
 
 From Farmers', Canton, Wood, Winslow & Co.'s sight draft, dated 24th, on Jas. McMahon, City, 
 for 34.47. Paid. 
 
 From Commercial Bank, Frankfort, Wm. King & Co.'s note, at 3 montlis from April 19th, favor 
 John Young, payable at our bank, for 114.50, with interest. 
 
 The following sight paper, received on deposit, has been sent forward for collection and credit: 
 H. S. Ball's check, dated 22d inst., on Exchange Bank, Lyons, for 136.25. AV. P. Reed's check, dated 
 20th mst., on Third National Bank, Newj)ort, for 19.42. R. L. Mason's sight draft, dated to-day, on 
 Walker & Davis, Bristol, for 291.20. Johnson Mfg. Co.'s sight draft, dated to-day, on James Turner, 
 Bath, for 644.05. 
 
 Received the following paper, payable abroad, for collection : From W. F. Jameson, note of L. J. 
 Weaver, at 2 months from May 21st, for 350.00, with interest, payable at First National Bank, Lyons. 
 From Johnson Mfg. Co., draft, at 10 days from date, for 372.41, on Daniel Bates & Co., Jefferson; 
 sent First National Bank, Jefferson. From II. L. Smith, his sight draft, dated to-day, on E. H. San- 
 derson, Warsaw, for 27.70; sent Second National Bank, Warsaw. 
 
 Collections Nos. 887, 921 and 932, payable in the city, have been paid. Remitted Wisner & Clark's 
 Bank, draft No. 649, on Chemical, for Collection No. 887, less 25c. collection. 
 
 Received advice from First National, Rockford, that collection No. 838 has been paid. Coll., 50c. 
 
 Discounts Nos. 507, 508 and 540 have been placed among the checks and charged to the accounts 
 of the makers. {See list of checks, below.) ^ 
 
 Received advice that Discount No. 502 has been paid. 
 
 Discounted the following paper: For Ray Bros., Darwin Cook's note, for 320.00, at 10 days from 
 date, payable at Union Bank, City. 
 
 For Meyer & Kauffman, L. M. Holman's note, for 1750.00, at 15 days from date, payable at 
 Exchange Bank, City. 
 
 For W. F. Jameson, Howard Hart's note, for 5000.00, at 30 days from 3rd inst., payable at Wayne 
 County National Bank. Coll., 5.00; Exch., 6.25. 
 
 Drew the following drafts on Chemical Bank : No. 643, favor American Exchange Bank, New 
 York, 526.50; Exch., 33c. No. 644, favor C. J. Burke, 1762.90; Exch., 2.20. No. 645, favor R. L. 
 Mason, 500.00; Exch., 63c. No. 646, favor Johnson Mfg. Co., 2845.00; Exch., 3.56. No. 647, favor 
 Maxwell Day, 92.65; Exch., 25c. No. 648, favor L. W. Manning, 161.00; Exch., 50c. No. 649, favor 
 Wisner & Clark's Bank, 374.75; Exch., 25c. 
 
 Remitted the following drafts on New York, received during the day, to Chemical Bank: No. 
 10042, drawn by First National, Georgetown, on Shoe and Leather, 218.41; No. 1683, drawn by Brown's 
 Bank, Ottawa, on Bowery, 1423.55; No. 7306, drawn by Third National, Newport, on Bowery, 949.83; 
 No. 867, drawn by Clark's Bank, Natchez, on Ninth National, 110.00; No. 14061, drawn by First 
 National, Hastmgs, on Chemical, 3681.75. 
 
180 
 
 TIIEOKE-IICAL AND PRACTICAL BOOK-KEEPING. 
 
 Eeceivcd tlie following ileirosits: Johnson Mfg. Co., 1900.00; Maxwell Day, 575.00; C. J. Burke, 
 2260.00; E. L. Mason, 843.25; AV. F. Jameson, 710.00; Meyer & Kauifman, 1500.00; Thos. H. Wilson, 
 1486.70; Bingham, Field & Ward, 4831.15. 
 
 Paid the following checks: T. J. & W. E. Upton, 1291.22, 75.00, 526.83; Johnson Mfg. Co., 
 1000.00, 86.40, 175.00; Jas. Angle, '1250.00, 63.84, 211.61; Benj. Thomas & Son, 2000.00; D. J. 
 Slocum, 941.09, 750.00; Maxwell Day, 5000.00, 1256.88; Bingham, F. & W., 3750.00; Wm. Raymond, 
 1450.00;' Chas. J. Burke, 675.00. 
 
 Collection and Exchange, from Teller's Memorandum, 17.20. 
 
 JUNE 28, 18—. 
 
 Received the following \)npoT, from the banks named, for collection: 
 
 From Smith & Walker's Bank, Salem, J. W. Lewis' sight draft, dated 25th, on L. 11. Parker, for 
 168.16. Collected. Remitted draft No. 650, on Chemical Bank, for the amount, less 12c. collection. 
 
 From Exchange National, Bristol, Chas. J. Burke's check, dated 24th inst., favor Henry Wood, 
 for 365.00; and Bardwell & Green's sight draft, dated 27tli inst., on BenJ. Simpson, for" 217.15. 
 Collected. 
 
 From Farmers', Canton, John Mead's sight draft, dated 26th inst., on Wm. Raymond, for 619.05. 
 Accejited, payable at our bank. 
 
 The following sight ])a])er, received on deposit, has been sent forward for ev^Ilection and credit: 
 W. F. Manning's check, dated 24th inst., on Second National, Rockford, favor J. B. Glass, for 369.44. 
 Chas. J. Burke's sight draft on D. W. Buckley, Lyons, for 1642.18. Johnson Mfg. Co.'s sight draft 
 on M. S. Little & Co., Bath, for 993.72. 
 
 Received the following paper, payable abroad, for collection: From D. B. Clark, Lansing Wetmore's 
 note, at 3 months from April 6th, for 500.00, with interest, payable at First National, Lyons. From 
 R. L. Mason, Julius Townsend's note, at 2 months from May 9th, for 163.50, with interest, payable at 
 Ninth National, New York. From Jas. Angle, his draft, at 10 days from date, on Willard Hodges, 
 Belleville, for 300.00. 
 
 Received advice from Norwich National, that Collection No. 859 has been ])aid. Coll. & Exch., 1.00. 
 
 Discount No. 509 has been paid. 
 
 Received from First National, Auburn, their draft No. 1794, on Fifth National, New York, for the 
 proceeds of Discount No. 505. Face of draft, 3877.43. 
 
 Discounted the following paper: For Geo. W. Holmes, Brown & Co.'s note, indorsed by Hiram 
 Sibley, at 10 days from date, for 750.00, payq,ble at Union Bank, City. Discount, 1.63. Proceeds 
 paid in cash. 
 
 For W. F. Jameson, Peter Waterman's note, at 12 days from 25th inst., for 3750.00, payable at 
 Exchange Bank, Lyons. Discount, 7.50; Coll., 3.00; Exch., 4.69. 
 
 For Johnson Mfg. Co., Wilson & Barry's note, at 45 days from May 24th, for 2461.90, payable at 
 Third National, Rockford. Discount, 4.10; Coll., 2.00; Exch., 3.08. 
 
 Drew the following drafts on Chemical Bank: No. 650, favor Smith & Walker's Bank, Salem, 
 168.04; Exch., 12c. No. 651, favor C. J. Burke, 1823.19; Exch., 2.28. No. 652, favor L. P. Walters, 
 375.00; Exch., 50c. No. 653, favor Johnson Mfg. Co., 5000.00; Exch., 6.25. No. 654, favor R. L. 
 Mason, 1475; Exch., 1.84. 
 
 Remitted the following drafts on New York to Chemical Bank, for our credit: No. 914, drawn by 
 First National Bank, Peru, on Bowery, 692.40; No. 3027, drawn by Livingston's, Corning, on American 
 Exchange, 1945.00; No. 1346, drawn by Cook's Bank, Havana, on Metropolitan, 4921.16; No. 14064, 
 drawn by First National, Albion, on Broadway, 1200.00; No. 871, drawn by Warner's Bank, Holley, on 
 Third National, 750.00; No. 1795, drawn by First National, Auburn, on Fifth National, 3877.43. 
 
 Received the following deposits: T. J. & W. E. Upton, 1800.00; Benj. Thomas & Son, 1394.20; 
 Johnson Mfg. Co., 3500.00; D. J. Slocum, 891.14; Bingham, Field & Ward, 1640.72; Maxwell Day, 
 4000.00; L. J. Farnsworth, 174.80; Chas. J. Burke, 2187.55. 
 
THEORETICAL AND PRACTICAL SOOK-KEEPING. ISl 
 
 Paid the following checks: Johnson Mfg. Co., 162.35, 794.18, 1500.00; L. J. Farnsworth, 563.82; 
 
 C. J. Burke, 675.00, 183.71, 2000.00, 365.00; Meyer & Kauffman, 1628.50, 445.00; K. L. Mason, 942.61; 
 W. F. Jameson, 500.00, 63.44; Thos. H. Wilson, 2463.21, 185.00, 50.00; Wm. Raymond, 619.05. 
 Cashier, 748.37. 
 
 Collection and Exchange, from Teller's Memorandum, 84.65. 
 
 JUNE 29, 18—. 
 
 Received from Livingston's Bank, Corning, drafts Nos. 4131 and 4122, on American Exchange, for 
 amount due on collections Nos. 877 and 903, less 25c. collection on each. Also, from Exchange Bank, 
 Geneva, draft No. 1105, on First National, New York, for amount of collection No. 905, 23.83, less 
 13c. collection. 
 
 Received the following paper, from the banks named, for collection : From Wayne County National, 
 
 D. W. Hatch & Son's sight draft on T. J. & W. E. Upton, dated 28th inst., for 293.41; accepted. From 
 Farmers', Canton, Maxwell Day's check on our bank, dated 25th inst., favor H. S. Jones, for 476.62. 
 From Wheeler's Bank, Livonia, Chas. J. Burke's note, at 6 months from January 5th, favor Henry 
 Damon, payable at our bank, for 5000.00. From Geo. K. Warren & Co., Loren Simj)son's sight draft 
 on Ward & Davis, dated 37th inst., for 609.30; paid. 
 
 The following sight paper, received on deposit, has been sent forward for collection and credit: 
 Carroll & Son's check on First National Bank, Bath, favor Johnson Mfg. Co., for 648.11. Meyer & 
 Kauffnian's sight draft on H. S. Lawrence, Rockford, for 34.18. Wm. Raymond's sight draft on Noble 
 & Savage, Lyons, for 563.64. Homer Baldwin's sight draft on King & Boyd, Bristol, for 439.75. 
 
 Received the following paper, payable abroad, for collection : From W. F. Jameson, Hiram Short's 
 note, at 30 days from Juno 13th, payable at First National, Lyons, for 575.35. From Maxwell Day, his 
 sight draft on Ranney & Co., Belmont, for 133.91. From Johnson Mfg. Co., their sight draft on Perry 
 Mead, New York, for 747.42. 
 
 Collections Nos. 840, 841 and 933, payable in the city, have been paid. 
 
 Remitted our draft No. 660, on Cliemical Bank, to Manufacturers' Bank, Norwalk, for collection 
 No. 933, less 1.28 for collection. 
 
 Discounts Nos. 511, 513 and 530, payable in the city, have been paid. 
 
 Received advice from Farmers', Canton, that Discount No. 506 has been paid. 
 
 Discounted the following paper: For C. J. Burke, H. S. Day's note, at 10 days from 38th inst., 
 payable at Union Bank, City, for 3250.00. Discount, 6.50. 
 
 For Maxwell Day, Slocum & Heald's note, at 15 days from date, payable at Exchange Bank, City, 
 for 1846.92. Discount, 5.54. 
 
 For Johnson Mfg. Co., Hoadley & Cain's note, at 30 days from 26th inst., payable at First National, 
 Bath, for 4825.00. Discount, 24.13; Coll., 4.00; Exch., 6.03. 
 
 For L. J. Farnsworth, Mulligan & Foley's note, at 60 days from May 35th, payable at First National, 
 Canton, for 1286.16. Discount, 6.00; Coll., 1.00; Exch., 1.61. 
 
 Drew the following drafts on Chemical National Bank: No. 655, favor Johnson Mfg. Co., 1000.00; 
 Exch., 1.35. No. 656, favor LeRoy Brown, 843.43; Exch., 1.05. No. 657, favor W. F. Jameson, 
 938.61; Exch., 1.16. No. 658, favor Chas. Cook, 31.19; Exch., 15c. No. 659, favor R. L. Mason, 
 325.00; Exch., 50c. No. 660, favor Manufacturers' Bank, Norwalk, 1248.72; Exch., 1.28. 
 
 Remitted the following drafts on New York to Chemical Bank, for our credit: Nos. 4121 and 
 4122, drawn by Livingston's, Corning, on American Exchange, for 381.75 and 275.25; No. 1105, drawn 
 by Exchange, Geneva, on First National, for 23.69; No. 8303, drawn by First National, Homer, on 
 Metropolitan, for 116.92; No. 1226, drawn by Clark's Bank, Benton, on Bowery, for 1048.62; No. 3491, 
 drawn by First National, Millport, on National Park, for 2689. 70. 
 
 Received the following deposits: Johnson Mfg. Co., 4943.11; W. F. Jameson, 660.00; Meyer & 
 Kauffman, 1043.20; Thos. H. Wilson, 3581.10; Wm. Raymond, 1500.00; Bingham, Field & Ward, 
 4000.00; Chas. J. Burke, 651.71. 
 
182 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 Paid the following checks: L. J. Farnsworth, 84.16, 327.93; Chas. J. Burke, 1500.00; Johnson 
 Mfg. Co., 189G.17, 500.00, 118.50; Maxwell Day, 476.G2, 69.35; D. J. Slociim, 032.56, 85.00; Bingham, 
 Field & Ward, 1000.00; T. J. & W. E. Upton, 100.00, 83.50, 1220.00, 293.41; R. L. Mason, 1350.00; 
 David Gray {T. A.), 94.25; Benj. Thomas & Son, 750.00, 845.06, 430.00. {See 11, page 199.) 
 
 Remitted National Park Bank, currency, 50000.00. 
 
 Paid Salaries for the month, as follows: Oashier, 200.00; Teller, 150.00; Bookkeeper, 100.00; 
 Assistant Bookkeepers, 75.00, 50.00; Messenger, 25.00; Janitor, 25.00. 
 
 Collection and Exchange, from Teller's Memorandum, 26.20. 
 
 After posting the work of this day, you will take a trial balance of the General Ledger, and also 
 ascertain whether tlie footing of the " Balance" column in the Balance Ledger for this day (deducting 
 overdrafts, as explained in 15, page 199) corresponds with the difference between the sides of the 
 Deposits account in the General Ledger. In addition to the trial balance mentioned, a statement of 
 the condition of the bank should be made from your books, which should agree with the following: 
 
 STATEMENT OF SECOND NATIONAL BANK, 
 
 AT CLOSE OF BUSINESS, SATURDAY, JUNE 29, 18- 
 
 Cash, 
 
 
 84083 
 
 25 
 
 Capital Stock, 
 
 200000 
 
 
 United States Bonds, 
 
 
 100000 
 
 
 Circulation, 
 
 90000 
 
 
 Real Estate, 
 
 
 24500 
 
 
 Discount, 
 
 6794 
 
 32 
 
 Furniture and Fixtures, 
 
 
 2500 
 
 
 Collection and Exchange, 
 
 2664 
 
 38 
 
 Expense, 
 
 
 3320 
 
 37 
 
 Surplus Fund, 
 
 31750 
 
 63 
 
 Loans and Discounts, 
 
 
 163105 
 
 90 
 
 Undivided Profits, 
 
 5718 
 
 42 
 
 Redemption Fund, 
 
 
 4500 
 
 
 Due Depositors, 
 
 235806 
 
 39 
 
 Due from other Banks, 
 
 
 191199 
 
 48 
 
 Due Traders' National, Kingston, 
 
 474 
 
 86 
 
 National Park Bank, N. Y., 
 
 76523.85 
 
 
 
 , 
 
 
 
 Chemical National, N. Y., 
 
 84280.29 
 
 
 
 X 
 
 
 
 Wayne Co. National, Lyons, 
 
 9177.83 
 
 
 
 X 
 
 
 
 Geo. K. Warren & Co., bath. 
 
 2817.98 
 
 
 
 y 
 
 
 
 First National, Rockford, 
 
 3027.80 
 
 
 
 y/ 
 
 
 
 Norwich National, Norwich, 
 
 1426.20 
 
 
 
 X 
 
 
 
 Farmers', Canton, 
 
 4574.05 
 
 
 
 / 
 
 
 
 Third National, Newport, 
 
 6353.36 
 
 
 
 X 
 
 
 
 Exchange National, Bristol, 
 
 1375.94 
 
 
 
 X 
 
 
 
 First National, Lebanon, 
 
 1642.18 
 
 
 
 / 
 
 
 
 
 
 
 
 573209 
 
 
 573209 
 
 
 You will next close all accounts exhibiting gains and losses into the Loss and Gain account, except 
 Real Estate and Furniture and Fixtures, which are inventoried at cost. 
 
 The net profit in a business conducted by a corporation is of course the property of the stock- 
 holders; but the laws governing National Banks require that ten per cent, of the profits shall be 
 carried to the Surplus Fund, till such fund shall amount to twenty per cent, of the capital stock of 
 the bank. And it is usual to divide such a part of the remainder as will make an even per cent, upon 
 the amount of the capital stock, making tlie per cent, large enough to nearly consume the amount of 
 jn-ofit, and carrying the balance to the credit of Undivided Profits account. Such amount to be 
 divided among the stockholders is called a Dividend. Each stockholder receives such a share of the 
 dividend as his stock is of the entire capital stock. 
 
 Yon will therefore, as illustrated below, close the Loss and Gain account into Suri^lus Fund 
 account. Dividend account and Undivided Profits account, by a Journal enti-y, crediting Surplus 
 Fund account 613 83, and Dividend account 5000.00, which will amount to 2^ per cent, upon the 
 capital stock, and crediting Undivided Profits account for 524.50, the remainder of the net profit, as 
 shown by the balance of Loss and Gain account. 
 
THEORETICAL AND PRACrlCAL BOOK-KEEPING. 
 
 183 
 
 Tlie following table contains the names of stockholders and the amount of their stock; 
 
 Chas. J. Burke, 
 
 300 shares of 100.00 each. 
 
 30000.00. 
 
 W. F. Jameson, 
 
 250 
 
 100.00 
 
 
 25000.00 
 
 R. L. Mason, 
 
 250 
 
 100.00 
 
 
 25000.00 
 
 D. J. Slocum, 
 
 200 
 
 100.00 
 
 
 20000.00. 
 
 Jas. Angle, 
 
 200 ' 
 
 100.00 
 
 
 20000.00 
 
 Thos. II. Wilson, 
 
 175 
 
 100.00 
 
 
 17500.00 
 
 Wm. Euymond, 
 
 175 
 
 100.00 
 
 
 17500.00 
 
 Maxwell Day, 
 
 150 
 
 100.00 
 
 
 15000.00 
 
 Samuel Wilder, 
 
 150 
 
 100.00 
 
 
 15000.00 
 
 L. J. Farnsworth, 
 
 150 
 
 ' 100.00 
 
 
 15000.00 
 
 Since all of the stockholders are depositors, the dividend of each may be posted to his account in 
 the Balance Ledger on the next business day. 
 
 The proper Journal entries for closing the Loss and Gain account, and also for dividing the dividend 
 among the stockholders, are given below. They should be made under date of June 29th, and immedi- 
 ately following the work already entered under that date, added and posted, and the Journal again ruled. 
 
 SATURDAY, 
 
 
 
 
 JUNE 29, 18- 
 
 
 
 
 
 Surplus Fund, 
 Dividend, 
 Undivided Profits, 
 
 
 
 ■613 
 
 5000 
 
 524 
 
 83 
 50 
 
 Loss and Gain, 
 
 
 
 6138 
 
 33 
 
 
 6138 
 
 33 
 
 6138 
 
 33 
 
 
 
 
 
 
 
 
 
 KoTB. — When the dividend is credited to the stockholders or paid to them in cash, Dividend account should he cred- 
 ited in the Journal for the amount thus credited or paid. 
 
 BALANCES, GENERAL LEDGER, JUNE 22. 
 
 BALANCES, DEPOSIT LEDGER, JUNE 22. 
 
 
 
 Capital Stock, . . - 
 
 200000 
 
 00 
 
 112240 
 
 45 
 
 Cash, - - - - 
 
 
 
 100000 
 
 00 
 
 U. S. Bonds, - - - 
 
 
 
 
 
 Circulation, - - - 
 
 90000 
 
 00 
 
 24500 
 
 00 
 
 Real Estate, . - - 
 
 
 
 2500 
 
 00 
 
 Furniture and Fixtures, 
 
 
 
 2695 
 
 37 
 
 Expense, - - - - 
 
 
 
 26523 
 
 85 
 
 National Park, 
 
 
 
 
 
 Deposits, - - - - 
 
 232206 
 
 37 
 
 189247 
 
 75 
 
 Bil s Discounted, - 
 
 
 
 
 
 Interest and Discount, 
 
 6679 
 
 82 
 
 
 
 Collection and Exchange, 
 
 2452 
 
 17 
 
 74751 
 
 27 
 
 Chemical National, - 
 
 
 
 2236 
 
 96 
 
 G. K. Warren & Co., - 
 
 
 
 2201 
 
 80 
 
 First National, Rockford, - 
 
 
 
 7402 
 
 67 
 
 Wayne Co. National, - 
 
 
 
 3620 
 
 13 
 
 Farmers' National, - 
 
 
 
 7915 
 
 19 
 
 Third National, Newport, 
 
 
 
 7335 
 
 70 
 
 Exchange National, Bristol, 
 
 
 
 597 
 
 54 
 
 Traders' Nat'l, Kingston, 
 
 
 
 
 
 Surplus Fund, - - - 
 
 31750 
 
 63 
 
 4500 
 
 00 
 
 Redemption Fund, 
 
 
 
 
 
 Norwich National, - 
 
 142 
 
 59 
 
 
 
 Undivided Profits, 
 
 5718 
 
 42 
 
 681 
 
 32 
 
 Sundry Banks and Bankers, 
 
 
 
 6835 
 12396 
 16413 
 
 8543 
 15480 
 
 7481 
 17436 
 10088 
 
 8409 
 28410 
 
 6802 
 10074 
 
 6673 
 
 3000 
 12868 
 10000 
 16193 
 
 4041 
 925 
 
 2093 28 
 
 W. F. Jameson, 
 Chas. J. Burke, - 
 R. L. Mason, - 
 D. J. Slocum, 
 Stillman & Moore, - 
 James Angle, 
 Thomas H. Wilson, 
 Ray Brothers, - 
 Meyer & Kauffman, 
 Johnson Mfg. Co., - 
 Wm. Raymond, - 
 Maxwell Day, - 
 Samuel Wilder, - 
 L. J. Farnsworth, - 
 Bingham, F. & W., 
 Benj. Thomas & Son, 
 Lord & Bennett, 
 T. J. & W. E. Upton, 
 Transient Accounts, 
 Certificates of Dep't, 
 J. H. Wentworth, - 
 
 20496 
 
 32 
 
 13660 
 
 44861 
 
 86 
 
 32465 
 
 35860 
 
 53 
 
 19446 
 
 10921 
 
 75 
 
 2377 
 
 27959 
 
 31 
 
 12479 
 
 17783 
 
 30 
 
 10301 
 
 18453 
 
 51 
 
 1017 
 
 16740 
 
 31 
 
 6651 
 
 18555 
 
 46 
 
 10146 
 
 44455 
 
 00 
 
 16044 
 
 12028 
 
 20 
 
 5226 
 
 16694 
 
 74 
 
 6619 
 
 24809 
 
 81 
 
 18136 
 
 12106 
 
 57 
 
 9106 
 
 22089 
 
 79 
 
 9221 
 
 21060 
 
 75 
 
 11060 
 
 30717 
 
 31 
 
 14523 
 
 21822 
 
 01 
 
 17780 
 
 3071 
 
 35 
 
 2145 
 
 3000 
 
 00 
 
 3000 
 
 12887 
 
 37 
 
 10794 
 
 182 
 136 
 170 
 '85 
 131 
 .85 
 15 
 69 
 i20 
 
 :54 
 
 102 
 199 
 ;31 
 
 157 
 50 
 >75 
 172 
 (28 
 >67 
 )00 
 
 :09 
 
 After you have completed the work upon your books, present them to the teacher for inspection, 
 and prepare for a written examination in book-keeping, questions for which will be furnished by the 
 teacher — selected froni the questions for review given throughout the book. You will also bo recpiired 
 to make the Journal entries for a variety of transactions, and to draw forms of business paj)er, as Letter, 
 Bill, Invoice of Shipment, Account of Sales, Note, Draft, Check, Certificate of Deposit, etc. 
 
184 
 
 THKOKEl'XOAL AND PRACTICAL BOOK-KKEPING. 
 JOURNAL 
 
 MONDAY, 
 
 Bills Discounted, 
 
 8750, 
 
 fjord & Bcuuett, 
 
 1285«», 
 
 Samuel Wilder, 
 
 970, 
 
 Johnson Mfg. Co., 
 
 2875, 
 
 Stillnian & Moore, 
 
 1872='5. 
 
 Chas. J. Burke, 
 
 5460, 
 
 James Angle, 
 
 375, 
 
 W. F. Jameson. 
 
 926>^ 
 
 D. J. Slocum, 
 
 432' S 
 
 Ray Brothers, 
 
 850". 
 
 Wm. Raymond, 
 
 1750". 
 
 L. J. Farnsworth. 
 
 493'a. 
 
 Benj. Thomas & Son, 
 
 1250, 
 
 T. J. & W. E. Upton, 
 
 2115, 
 
 Chemical Nat. Bank, 
 
 16381»», 
 
 Coll. & Exch., 
 
 
 Deposits, 
 
 
 COLL. & KXCH. 
 
 DIJPOSITS. 
 
 QENEKAL. 
 
 
 
 
 
 8750 
 
 
 
 
 1285 
 
 50 
 
 
 
 
 
 976 
 
 
 
 
 
 
 2875 
 
 
 
 
 
 
 1872 
 
 25 
 
 
 
 
 
 5460 
 
 
 
 
 
 
 375 
 
 A 
 
 
 
 
 926 
 
 14 
 
 
 
 
 
 432 
 
 12 
 
 
 
 
 
 856 
 
 11 
 
 
 - 
 
 
 
 1756 
 
 23 
 
 
 
 
 
 493 
 
 92 
 
 
 
 
 
 1250 
 
 
 
 
 
 
 2115 
 
 
 
 
 20 
 
 78 
 
 
 
 10381 
 
 25 
 
 7 
 
 25 
 
 
 
 28 
 
 03 
 
 28 
 
 03 
 
 
 
 20673 
 
 
 
 
 20673 
 
 27 
 
 
 27 
 
 
 
 
 45832 
 
 55 
 
 
 
 
 
 
 
 
 
 
 TUESDAY, 
 
 
 
 
 
 
 
 
 
 R. L. Mason, 
 
 584»5, 
 
 COLL. i BXCH. 
 
 DEPOSITS. 
 
 GENERAL. 
 
 
 
 50 
 
 584 
 
 25 
 
 
 
 
 
 Sti'.lman & Moore, 
 
 1249, 
 
 1 
 
 
 1249 
 
 
 
 
 
 
 Meyer & Kaullman, 
 
 550] 215, 
 
 
 
 705 
 
 
 
 
 
 
 Bills Discounted, 
 
 10000. 1.500, 500, 
 
 
 
 
 
 12000 
 
 
 
 
 Norwich Nat. Bank, 
 
 4150. 
 
 
 
 
 
 4150 
 
 
 
 
 Exch. Nat., Bristol, 
 
 493", 
 
 
 
 
 
 493 
 
 18 
 
 
 
 Traders' N., Kingston 
 
 , 573»», 
 
 
 
 
 
 573 
 
 90 
 
 
 
 First Nat., Rockford, 
 
 2500, 
 
 
 
 
 
 2500 
 
 
 
 
 Geo. K. Warren & Go. 
 
 , 1500, 
 
 
 
 
 
 1500 
 
 
 
 
 T. J. & W. E. Upton, 
 
 1175, 
 
 
 
 1175 
 
 
 
 
 
 
 Benj. Thomas & Son, 
 
 435", 
 
 
 
 435 
 
 57 
 
 
 
 
 
 Bingham, Field & W. 
 
 2850, 
 
 
 
 2850 
 
 
 
 
 
 
 Samuel Wilder, 
 
 894". 
 
 
 
 894 
 
 13 
 
 
 
 
 
 Maxwell Day, 
 
 948-". 
 
 
 
 948 
 
 75 
 
 
 
 
 
 Johnson Mfg. Co., 
 
 3480. 
 
 
 
 3480 
 
 
 
 
 
 
 Thos. H. Wilson, 
 
 2294' «. 
 
 
 
 2294 
 
 18 
 
 
 
 
 
 James Angle, 
 
 1840. 
 
 
 
 1840 
 
 
 
 
 
 
 D. J. Slocum, 
 
 480' «, 
 
 
 
 486 
 
 78 
 
 
 
 
 
 W. F. Jameson, 
 
 1500, 
 
 
 
 1500 
 
 
 
 
 
 
 Chemical Nat. Bank, 
 
 16897, 
 
 15 
 
 75 
 
 
 
 16897 
 
 
 
 
 Coll. & Exch., 
 Deposits, 
 
 
 6 
 
 94 
 
 
 
 24 
 18502 
 
 
 
 24 
 
 19 
 
 19 
 
 
 
 18502 
 
 66 
 
 66 
 
 
 ■ 
 
 
 56640 
 
 93 
 
THEORETICAL AND PKACTICAL BOOK-KEEPING. 
 JOURNAL. 
 
 JUNE 17. 18—. 
 
 185 
 
 Bingham, Field & Ward, 
 Lord & Bennett, 
 Samuel Wilder, 
 Wm. Raymond, 
 Meyer & KaufEman, 
 Thos. H. Wilson, 
 Stillman & Moore, 
 R. L. Mason, 
 W. P. Jameson, 
 Ciiemical National Bank, 
 
 Deposits, 
 
 375, 92G»«, 1000, 
 
 2118, 325«°, 92", 
 
 2025, 37" % 325, 150, 
 
 200, 480, 3115, 
 
 4375, 85, 
 
 10000, 
 
 2500, 187»», 300, 
 
 3250, 132, 247", 
 
 2000, 342»S 1175, 
 
 7428«», 
 
 2301 
 2535 
 
 2537 
 3795 
 43 GO 
 10000 
 2987 
 3629 
 3517 
 
 35G63 
 
 50 
 
 75 
 50 
 
 50 
 18 
 25 
 
 68 
 
 GENERAL. 
 
 7428 
 
 09 
 
 35603 
 
 68 
 
 43091 
 
 77 
 
 JUNE 18, 18—. 
 
 Wayne Co. Nat. Bank, 
 
 Farmers' Bank, Canton, 
 
 Collection & Exchange, 
 
 Exchange National, Bristol, 
 
 Traders' National, Kingston, 
 
 First National, Kockford, 
 
 Lord & Bennett, 
 
 Bingham, Field & Ward, 
 
 Wm. Raymond, 
 
 .Johnson Mannfacturing Co., 
 
 Maxwell Day, 
 
 Ray Brothers, 
 
 Thomas H. Wilson, 
 
 Stillman & Moore, 
 
 R. L. Mason, 
 
 Expense, 
 
 Chemical National Bank, 
 
 Deposits, 
 
 584'", 1500, 225, 
 1250, 
 
 5 
 
 2800, 
 
 340, 
 
 1350, 
 
 2500, 1142«», 177' < 
 
 132«»,1892'«, 450, 
 
 1000, 437»«, 140, 
 
 6450, 573»», 
 
 10000, 
 
 115, 973«», 4500, 
 
 56", 1394", 250, 
 
 7500, 
 
 4250, 3400, 
 
 12'«, 
 
 7894* », 
 
 DEPOSITS, 
 
 3819 
 2474 
 1577 
 7023 
 10000 
 5588 
 1700 
 7500 
 7650 
 
 47335 
 
 94 
 58 
 50 
 90 
 
 02 
 80 
 
 40 
 
 GENERAL. 
 
 2309 
 1250 
 
 2800 
 
 340 
 
 1350 
 
 75 
 50 
 
 12 
 7894 
 
 18 
 43 
 
 47335 
 
 40 
 
 63292 
 
 26 
 
186 
 
 THKORETiCAl. AND PRACTICAL BOOlt-K.EEPIKG. 
 
 JOURNAL. 
 
 WEDNESDAY, 
 
 
 
 T., J. &. W. E. Upton 
 
 , 119=". 
 
 COLL. & EXCH. 
 
 bKPOBITS. 
 
 GENERAL. 
 
 
 
 60 
 
 119 
 
 25 
 
 
 
 
 
 R. L. Mason, 
 
 8319«», 432, 
 
 
 50 
 
 8651 
 
 40 
 
 
 
 
 
 Wm. Raymond, 
 
 368* », 775, 1AH*\ 
 
 
 50 
 
 1286 
 
 80 
 
 
 
 
 
 Thos. H. Wilson, 
 
 1800, 820 •», 
 
 
 50 
 
 2620 
 
 99 
 
 
 
 
 
 G. H. Perkins (T. A.), 
 
 925«», 
 
 
 50 
 
 925 
 
 68 
 
 
 
 
 
 Bills Discounted, 
 
 9000, 10500, 15000, 5000, 
 
 
 50 
 
 
 
 39500 
 
 
 
 
 First Nat.. Rockford, 
 
 1455, 
 
 
 
 
 
 1455 
 
 
 
 
 Farmers' Bank, 
 
 32'», 
 
 
 
 
 
 32 
 
 18 
 
 
 
 Wavne Co. N. Bank., 
 
 5000, 
 
 
 
 
 
 5000 
 
 
 
 
 Third Nat., Newport, 
 
 1287' ». 
 
 
 
 
 
 1287 
 
 IJ 
 
 
 
 Lord & Bennett, 
 
 3000, 
 
 
 
 3000 
 
 
 
 
 
 • 
 
 Benj. Tliomas & Son, 
 L. J. Farnswortli, 
 Johnson Mfg. Co., 
 Ray Brothers, 
 Stillman & Moore, 
 Chas. J. Burke, 
 
 1790, 
 
 315, 
 
 5275, 
 
 2910. 
 
 0150, 
 
 3926*«, 
 
 
 
 1790 
 315 
 
 5275 
 2910 
 6150 
 3926 
 
 42 
 
 
 
 
 
 Chemical Nat. Bank, 
 
 11721»», 
 
 10 
 
 79 
 
 
 
 11721 
 
 26 
 
 
 
 Coll. & Exch., 
 Deposits, 
 
 
 16 
 
 92 
 
 
 
 30 
 36970 
 
 
 
 30 
 
 71 
 
 71 
 
 
 
 30970 
 
 54 
 
 54 
 
 
 
 
 95996 
 
 88 
 
 
 
 
 
 
 
 « 
 
 
 
 
 THURSDAY, 
 
 
 
 Samuel Wilder, 
 
 943»^ 63", 
 
 COLL. & EXCH. 
 
 DEPOSITS. 
 
 GENERAL. 
 
 
 
 25 
 
 1007 
 
 59 
 
 
 
 
 
 Bingham, Field & W., 
 
 215", 550, 
 
 
 50 
 
 765 
 
 75 
 
 
 
 
 
 May Brothers, 
 
 1490»«, 
 
 1 
 
 
 1490 
 
 66 
 
 
 
 
 
 Jas. Angle, 
 
 754", 2873, 
 
 
 
 3627 
 
 13 
 
 
 
 
 
 Bills Discounted, 
 
 7500, 3000, 
 
 
 
 
 
 10500 
 
 
 
 
 Certificates of Deposit 
 
 3000, 
 
 
 
 3000 
 
 
 
 
 
 
 Farmers' Bank, 
 
 94i«, 
 
 
 . 
 
 
 
 94 
 
 16 
 
 
 
 Wayne Co. National, 
 
 873^*, 
 
 
 
 
 
 873 
 
 25 
 
 
 
 Norwich National, 
 
 1621', 
 
 
 
 
 
 163 
 
 11 
 
 
 
 W. F. Jameson, 
 
 584, 
 
 
 
 584 
 
 
 
 
 
 
 D. J. Slocum, 
 
 13951 8 
 
 
 
 1395 
 
 18 
 
 
 
 
 
 Thos. H. WMlson, 
 
 843' ». 
 
 
 
 843 
 
 10 
 
 
 
 
 
 Meyer & Kauffman, 
 
 4200, 
 
 
 
 4200 
 
 
 
 
 
 
 Johnson Mfg. Co., 
 
 5125, 
 
 
 
 5125 
 
 
 
 
 
 
 Benj. Thomas & S(m, 
 
 1975, 
 
 
 
 1975 
 
 
 
 
 
 
 Lord & Bennett, 
 
 2400, 
 
 
 
 2400 
 
 
 
 
 
 
 J. H.Wentworth&Co. 
 
 , 1250, 
 
 
 
 1250 
 
 
 
 
 
 
 Chemical Nat. Bank, 
 
 11836", 
 
 15 
 
 27 
 
 16 
 85 
 
 
 
 118.36 
 
 87 
 
 
 
 Coll. & Exch., 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Deposits, 
 
 
 44 
 
 76 
 
 
 
 44 
 27663 
 
 76 
 
 
 
 27663 
 
 41 
 
 41 
 
 
 
 
 51174 
 
 56 
 
 
 
 
 
 
 
 
 
 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 JOURNAL. 
 
 JUNE 19, 18— . 
 
 187 
 
 
 
 First National, Rockford, 
 
 143»», 
 
 DEPOSITS. 
 
 OENERAL. 
 
 
 
 
 143 
 
 90 
 
 
 
 Geo. K. Warren & Co., 
 
 821«», 
 
 
 
 831 
 
 49 
 
 
 
 Norwich National, 
 
 368«»,3000, 
 
 
 
 3368 
 
 90 
 
 
 
 Farmers' Bank, 
 
 926", 
 
 
 
 926 
 
 18 
 
 
 
 Collection & Exchange, 
 
 5»», 
 
 
 
 5 
 
 25 
 
 
 
 Wayne Co. National, 
 
 211''«, 
 
 
 
 211 
 
 50 
 
 
 
 Livingston's Bank (S. B.), 
 
 275»», 
 
 
 
 375 
 
 50 
 
 
 
 T. J. & W. E. Upton, 
 
 243«», 400, 
 
 642 
 
 69 
 
 
 
 
 
 Lord & Bennett, 
 
 52", 146»», 2234«", 
 
 2434 
 
 11 
 
 
 
 
 
 Bingham, Field & Ward, 
 
 824", 640, 1138'% 
 
 2603 
 
 05 
 
 
 
 
 
 Samuel Wilder, 
 
 2134'% 86"% 
 
 2220 
 
 55 
 
 
 
 
 
 Johnson Mfg. Co., 
 
 896", 27»«, 6000, 
 
 6934 
 
 31 
 
 
 
 
 
 Ray Brothers, 
 
 4500, 
 
 4500 
 
 
 
 
 
 
 Jas. Angle, 
 
 1690, 47"% 
 
 1737 
 
 35 
 
 
 
 
 
 D. J. Slocum, 
 
 75, 1793'% 350, 
 
 3117 
 
 63 
 
 
 
 
 
 Chemical National Bank, 
 
 35174*', 
 
 
 
 35174 
 
 56 
 
 
 
 Deposits, 
 
 
 23179 
 
 59 
 
 33179 
 
 59 
 
 
 
 
 54106 
 
 87 
 
 
 
 
 
 
 
 
 
 JUNE 20, 18- 
 
 
 if 
 
 Third National, Newport, 63»% 346' «, 
 
 Farmers', Canton, 3163% 
 
 First National, Rockford, 1491«% 34>% 
 
 Wayne Co. National, 7500, 
 
 Traders' Nat., Kingston, 194"% 
 
 Woodruff's Bank (S. B.), 86«% 
 
 Geo. K. Warren & Co. 732", 
 
 Exchange Nat., Bristol, 17»% 
 
 J. A. Bush, 497"% 
 
 Wyman & Fisher, 597 »% 
 
 Johnson Mfg. Co., 1000, 396, 2584, 3000, 
 
 T. J. & W. E. Upton, 985, 146»% 75, 843'% 
 
 W: F. Jameson, 345, 3940, 1333% 
 
 D. J. Slocuui, 5000, 
 
 Jas. Angle, 3500, 300, 75, 186»% 94>% 
 
 Thos. H. Wilson, 3000, 2735=% 
 
 Meyer & Kauflman, 2500, 1500, 49*% 
 
 Lord & Bennett, 85, 342*% 1600, 
 
 G. H. Perkins (T. A.), 925 »% 
 
 Chemical National Bank, 4615°% 
 
 Deposits, 
 
 DEPOSITS. 
 
 OENEKAL. 
 
 
 497 
 597 
 6980 
 2050 
 3318 
 5000 
 4056 
 5735 
 4049 
 1927 
 935 
 
 25 
 10 
 
 i% 
 
 35 
 
 06 
 50 
 36 
 50 
 
 68 
 
 410 
 
 316 
 
 1525 
 
 7500 
 
 194 
 
 86 
 
 732 
 
 17 
 
 4615 
 35136 
 
 86 
 35 
 83 
 
 50 
 40 
 81 
 39 
 
 04 
 
 
 35136 
 
 82 
 
 82 
 
 
 
 
 50435 
 
 90 
 
 
 
 
188 
 
 THteORETtOAL ANt) PRACTtCAt BOOK-KEEPtNG. 
 
 JOURNAL. 
 
 FRIDAY, 
 
 
 
 D. J. Slocum, 
 
 148»«, 1294", 
 
 OOLI,. & EXCH. 
 
 DKPOSITS. 
 
 GENERAL. 
 
 
 
 50 
 
 1443 
 
 05 
 
 
 
 
 
 Samuel Wilder, 
 
 856<», 
 
 
 50 
 
 856 
 
 40 
 
 
 
 
 
 Chas. J. Burke, 
 
 1491, 
 
 
 50 
 
 1491 
 
 
 
 
 
 
 L. AV. Perry (T. A.), 
 
 3643', 
 
 
 50 
 
 364 
 
 37 
 
 
 
 
 
 Thos. H. Wilson, 
 
 183, 
 
 
 50 
 
 182 
 
 
 
 
 
 
 Bills Discounted, 
 
 1500, 5000, 287C»», 
 
 
 
 
 
 9376 
 
 90 
 
 
 
 Third Nat., Newport, 
 
 197'", 
 
 
 
 
 
 197 
 
 46 
 
 
 
 Excli. Nat., Bristol, 
 
 388' », 
 
 
 
 
 
 388 
 
 19 
 
 
 
 Traders' N., Kingston, 
 
 2468 3, 
 
 
 
 
 
 246 
 
 83 
 
 
 
 Wm. Kaymond, 
 
 2250, 
 
 
 
 2250 
 
 
 
 
 
 
 Maxwell Day, 
 
 1350, 3000' 3, 
 
 
 
 5310 
 
 12 
 
 
 
 
 
 L. J. Farnsworth, 
 
 3118'". 
 
 
 
 3118 
 
 07 
 
 
 
 
 
 Lord & Bennett, 
 
 6190»3, 
 
 
 
 6190 
 
 83 
 
 
 
 
 
 T. J. & W. E. Upton, 
 
 4114««, 
 
 
 
 4114 
 
 60 
 
 
 
 
 
 J. H. Wentworth & Co. 
 
 ,8673»», 
 
 
 
 8673 
 
 95 
 
 
 
 
 
 E. L. Mason, 
 
 5000, 
 
 
 
 5000 
 
 
 
 
 
 
 Chemical Nat. Bank. 
 
 132643*, 
 
 16 
 
 04 
 
 
 
 13264 
 
 34 
 
 
 
 Coll. & Exch., 
 Deposits, 
 
 e 
 
 11 
 
 96 
 
 
 
 30 
 38994 
 
 
 
 30 
 
 50 
 
 50 
 
 
 
 38994 
 
 39 
 
 39 
 
 
 
 
 62498 
 
 61 
 
 
 
 
 SATURDAY. 
 
 Lord & Bennett, 
 
 1499, 4480, 
 
 Chas. J. Burke, 
 
 957'*, 
 
 D. J. Slocum, 
 
 88", 375, 
 
 Jas. Angle, 
 
 395" ^ 1349' % 
 
 Dunn & Cole (T. A.), 
 S. H. Lowe (T. A.), 
 
 863, 
 
 9183", 
 
 Woodruff's Bank (S.B. 
 
 )86*», 
 
 Wayne Co. N., Lyons, 
 
 212", 74' », 9; 
 
 Bills Discounted, 
 
 2150, 7200, 
 
 Norwich National, 
 
 13«», 
 
 First Nat., Rockford, 
 
 97»'', 
 
 Samuel Wilder, 
 
 1947' », 
 
 R. L. Mason, 
 
 1200, 
 
 Stillman & Moore, 
 
 900. 
 
 Bingham, Field & W. 
 J. H. Wentworth & Co. 
 
 682", 
 
 ,2963'"'. 
 
 Benj. Thomas & Son, 
 
 1646«2. 
 
 Chemical Bank, 
 
 6914", 
 
 Coll. & Exch., 
 
 
 Deposits, 
 
 
 934' », 
 
 COLI,. & EXCH. 
 
 9 
 23 
 
 34 
 
 50 
 25 
 50 
 25 
 
 03 
 45 
 
 98 
 
 5979 
 957 
 463 
 
 1745 
 863 
 918 
 
 1947 
 1200 
 900 
 682 
 2963 
 1646 
 
 20266 
 
 15 
 15 
 
 27 
 
 30 
 
 80 
 
 11 
 42 
 92 
 
 12- 
 
 GENERAL. 
 
 86 
 
 1221 
 
 9350 
 
 13 
 
 97 
 
 6914 
 
 34 
 20266 
 37985 
 
 40 
 
 78 
 
 40 
 80 
 
 78 
 
 98 
 12 
 26 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 JOURNAL 
 
 JUNE 21, 18—. 
 
 189 
 
 V 
 V 
 
 Wayne Co. National, Lyons, 
 Farmers' Bank, Canton, 
 Third Nat., Newjiort, 
 First National, Kockford, 
 Livingston's Bank (S. B.), 
 Exch. Bank, Geneva (S. B. ), 
 Clias. J. Burke, 
 R. L. Mason, 
 Jas. Angle, 
 Stillman & Moore, 
 Johnson Mfg. Co., 
 Samuel Wilder, 
 Bingham, Field & W'ard, 
 Benj. Thomas & Sou, 
 Chemical National Bank, 
 H. W. Phillips, 
 Morgan & Seelye, 
 
 Deposits, 
 
 149* «, 393' •, 
 
 856" », 49" », 
 
 364»', 
 
 181<», 183»», 
 
 382, 
 
 23° " 
 
 10000, 546 »«, 1850, 
 
 134«s, 5000, 
 
 3149», 1165, 123' «, 85, 
 
 3500, 14925°, 
 
 11225% 97^ 2463' », 
 
 186''», 1729»', 
 
 916<», 2422'", 
 
 10000, 
 
 47355% 
 
 992=", 
 
 1479=", 
 
 DEPOSITS. 
 
 GENERAI 
 
 
 
 641 
 
 
 
 906 
 
 
 
 364 
 
 
 
 363 
 
 
 
 382 
 
 
 
 23 
 
 13396 
 
 50 
 
 
 5134 
 
 65 
 
 
 1688 
 
 14 
 
 
 4992 
 
 50 
 
 
 3682 
 
 25 
 
 
 1915 
 
 45 
 
 
 3339 
 
 16 
 
 
 10000 
 
 
 4725 
 
 992 
 
 25 
 
 
 1479 
 
 31 
 
 
 45620 
 
 21 
 
 45620 
 
 
 
 53929 
 
 
 94 
 
 70 
 87 
 90 
 
 82 
 
 56 
 
 21 
 
 JUNE 22, 18—. 
 
 
 
 Exch. National, Bristol, 
 
 1500, 33<% 
 
 DEPOSITS. 
 
 GENERAL. 
 
 
 
 
 1533 
 
 44 
 
 
 
 Wayne Co. Nat., Lyons, 
 
 88«», 
 
 
 
 88 
 
 40 
 
 
 
 Geo. K. Warren & Co., 
 
 3961% 
 
 
 
 396 
 
 15 
 
 
 
 Collection «&. Exch., 
 
 I 3 
 
 
 
 
 12 
 
 
 
 ThirdNational, Newport, 
 
 136»% 7300, 
 
 
 
 7336 
 
 93 
 
 
 
 Farmers', Canton, 
 
 6P% 
 
 
 
 fil 
 
 37 
 
 
 
 D. J. Slocum, 
 
 183", M3'% 100, 300, 
 
 1426 
 
 37 
 
 
 
 
 
 L. J. Farnsvvorth, 
 
 3000, 
 
 3000 
 
 
 
 
 
 
 Wm. Raymond, 
 
 1635% 39405^ 873'% 
 
 1439 
 
 68 
 
 
 
 
 
 Lord & Bennett, 
 
 4000, 1363<% 312<'5, 
 
 5476 
 
 39 
 
 
 
 
 
 Johnson Mfg. Co., 
 
 3500, 150, 150, 
 
 3800 
 
 
 
 
 
 
 J. IL W^entworth & Co., 
 
 1829^% 163»% 100, 
 
 2093 
 
 38 
 
 
 
 
 
 T. J. & W. E. Upton, 
 
 112'% 986»% 250, 
 
 1348 
 
 83 
 
 
 
 
 
 Bingham, Field & Ward, 
 
 2150, 
 
 3150 
 
 
 
 
 
 
 Maxwell Day, 
 
 74' 5, 
 
 74 
 
 75 
 
 
 
 
 \/ 
 
 Henry Sears, 
 
 5231% 
 
 532 
 
 11 
 
 
 
 
 
 Chemical National Bank, 
 
 5653»% 
 
 
 
 5653 
 
 96 
 
 
 
 Deposits, 
 
 
 31331 
 
 30 
 
 31331 
 
 20 
 
 
 , 
 
 
 36381 
 
 46 
 
 
 
 
190 
 
 THEORETICAL AND PKACTICAL BOOK-KEEPING. 
 
 DISCOUNT REGISTER. 
 
 When Disc'd. 
 
 No. 
 
 June 
 
 17 
 
 528 
 529 
 530 
 
 - 
 
 
 531 
 
 
 18 
 
 532 
 533 
 534 
 535 
 536 
 
 
 19 
 
 537 
 538 
 539 
 
 540 
 541 
 
 
 30 
 
 542 
 543 
 544 
 545 
 546 
 547 
 
 
 21 
 
 548 
 549 
 550 
 551 
 
 
 22 
 
 552 
 553 
 554 
 
 J. D. Winslow. 
 H. Wliitaker. 
 A. M. Ilastiugs. 
 Johnson Mfg. Co. 
 
 P. L. Paine. 
 D. n. Davis. 
 Isaac Willis. 
 J. D. Shultz. 
 T. G. Lord. 
 
 Ward & Cobb. 
 Young & Baldwin. 
 T. K. Scott. 
 Wm. Kaymond. 
 Meyer & KaufEman. 
 
 Havens & Co. 
 Samuel Wilder. 
 Eobert Moore. 
 Philip Warner. 
 Wynian & Fisher. 
 Darwin & Kent. 
 
 H. W. Phillips. 
 Shelby & Co. 
 Jones & Hardy. 
 H. A. Wood. 
 
 Thomas Brooks. 
 Fanning & Peck. 
 Ellis & Ilayden. 
 
 ENDORSERS. 
 
 Chas. J. Burke. 
 D. J. Slocum. 
 Samuel Wilder. 
 Freeman Clarke. 
 
 Johnson Mfg. Co. 
 Maxwell Day. 
 Samuel Wilder. 
 Thos. H. AVilson. 
 R. L. Mason. 
 
 J. Jackson,Jr., D. J. Slocum, 
 Jas. Angle. 
 L. J. Farnsworth. 
 Bingham, Field & Ward. 
 W. M. Bond. 
 
 R. L. Mason. 
 J. A. Lindsay. 
 Meyer & KaufEman. 
 J. A. Bush, John Rice. 
 J. H. Price. 
 Johnson Mfg. Co. 
 
 Henry Chase, A. Springer. 
 
 R. L. Mason. 
 
 Samuel Wilder. 
 
 L. M. Lay, Morgan Seelye. 
 
 H. Sears, F. Woodbury & Son. 
 Stillman & Moore. 
 Wm. Raymond. 
 
 ofB. B. 
 
 WHERE PAYABLE. 
 
 Exch'ge, City. 
 1st N., Lyons. 
 Union, City 
 Our Bank. 
 
 1st N., Lyons. 
 Woodr'il's, Liv. 
 Farmers', Cant. 
 C's B'k, Rich. 
 Norwich Nat. 
 
 2d Nat. , Lyons. 
 Union, City. 
 Exch'ge, City. 
 Our Bank. 
 Our Bank. 
 
 Union, City. 
 Our Bank. 
 1st N., Lyons. 
 Union, City. 
 Farmers', Cant. 
 Norwich Nat. 
 
 W.C.N. Lyons. 
 Norwich Nat. 
 Union, City. 
 Exch'ge, City. 
 
 Union, City. 
 Exch'ge, City. 
 1st N., Lyons. 
 
 June 
 
 April 
 May 
 June 
 M'ch 
 
 June 
 
 June 
 
 June 
 
 June 
 
 17 
 15 
 
 17 
 17 
 
 15 
 15 
 10 
 18 
 9 
 
 19 
 19 
 15 
 19 
 19 
 
 20 
 19 
 20 
 20 
 16 
 16 
 
 21 
 19 
 20 
 21 
 
 23 
 
 23 
 18 
 
THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 191 
 
 DISCOUNT REGISTER. 
 
 TIME. 
 
 WHEN PUE. 
 
 PACE OF PAPER.I 
 
 DISCOUNT. 1 
 
 COLt. & EX. 
 
 PROCEEDS. 
 
 II 
 
 FOR WHOM DISCOUNTED. 
 
 
 REM'KS. 
 
 
 
 
 
 
 
 
 
 E-O 
 
 
 ».o 
 
 
 30 da. 
 
 July 
 
 20 
 
 858 
 
 90 
 
 4 
 
 72 
 
 
 
 854 
 
 18 
 
 Chas. J. Burke. 
 
 
 1 mo. 
 
 
 18 
 
 1350 
 
 
 6 
 
 46 
 
 3 
 
 56 
 
 1340 
 
 98 
 
 
 D. J. Sloeum. 
 
 
 
 10 da. 
 
 June 
 
 30 
 
 3875 
 
 
 8 
 
 40 
 
 
 
 3866 
 
 60 
 
 
 Samuel Wilder. 
 
 
 y 
 
 30 da. 
 
 July 
 July 
 
 20 
 18 
 
 5000 
 
 
 37 
 
 50 
 
 
 
 4973 
 
 50 
 
 
 Johnson Mfg. Co. 
 Johnson Mfg. Co. 
 
 
 
 
 10983 
 
 90 
 
 47 
 21 
 
 08 
 63 
 
 2 
 
 56 
 
 10934 
 
 36 
 
 96 
 
 
 30 da. 
 
 4335 
 
 9 
 
 41 
 
 4393 
 
 
 3 mo. 
 
 
 18 
 
 1500 
 
 
 7 
 
 50 
 
 2 
 
 88 
 
 1489 
 
 63 
 
 
 Maxwell Day. 
 
 
 
 60 da. 
 
 
 13 
 
 3394 
 
 80 
 
 9 
 
 58 
 
 4 
 
 98 
 
 3380 
 
 34 
 
 
 Samuel Wilder. 
 
 
 
 1 ino. 
 
 
 31 
 
 398 
 
 50 
 
 2 
 
 19 
 
 1 
 
 
 395 
 
 31 
 
 
 Thos. H. Wilson. 
 
 
 
 4 mo. 
 
 July 
 
 13 
 23 
 
 960 
 
 
 3 
 
 84 
 
 1 
 
 70 
 
 954 
 
 46 
 
 
 E. L. Mason. 
 D. J. Sloeum. 
 
 
 
 
 9578 
 
 30 
 
 44 
 16 
 
 74 
 50 
 
 19 
 
 97 
 
 9513 
 
 59 
 75 
 
 
 30 da. 
 
 3000 
 
 6 
 
 75 
 
 2976 
 
 
 15 da. 
 
 
 7 
 
 380 
 
 
 1 
 
 14 
 
 
 
 378 
 
 86 
 
 
 Jas. Angle. 
 
 
 
 1 mo. 
 
 
 18 
 
 1800 
 
 
 8 
 
 70 
 
 
 
 1791 
 
 30 
 
 
 L. J. Farnsworth. 
 
 
 
 5 da. 
 
 June 
 
 37 
 
 1450 
 
 
 1 
 
 93 
 
 
 
 1448 
 
 07 
 
 
 Bingham, ¥. & W. 
 
 
 
 20 da. 
 
 July 
 July 
 
 13 
 33 
 
 3000 
 
 
 7 
 
 67 
 
 
 
 1992 
 
 33 
 
 
 Meyer & K. 
 R. L. Mason. 
 
 
 
 
 8630 
 
 
 35 
 
 2 
 
 94 
 
 48 
 
 6 
 
 75 
 
 8587 
 
 31 
 
 52 
 
 
 30 da. 
 
 450 
 
 447 
 
 
 1 mo. 
 
 
 23 
 
 1500 
 
 
 8 
 
 
 
 
 1493 
 
 
 
 Samuel Wilder. 
 
 
 
 20 da. 
 
 
 13 
 
 2300 
 
 
 8 
 
 43 
 
 4 
 
 75 
 
 3186 
 
 83 
 
 
 Meyer & K. 
 
 
 
 30 da. 
 
 
 33 
 
 500 
 
 
 2 
 
 75 
 
 
 
 497 
 
 25 
 
 
 J. A. Bush, Cash. 
 
 V 
 
 
 1 mo. 
 
 
 19 
 
 600 
 
 
 2 
 
 90 
 
 
 
 597 
 
 10 
 
 
 ,W. & P., Cash. 
 
 V 
 
 
 30 da. 
 
 July 
 
 19 
 24 
 
 1500 
 
 
 7 
 
 25 
 
 3 
 
 88 
 
 1489 
 
 87 
 
 
 Johnson Mfg. Co. 
 H.W.Phillips, Cash 
 
 w' 
 
 
 
 6750 
 
 
 31 
 5 
 
 81 
 50 
 
 7 
 
 .63 
 
 6710 
 
 56 
 25 
 
 
 30 da. 
 
 1000 
 
 3 
 
 35 
 
 993 
 
 
 30 da. 
 
 
 33 
 
 575 
 
 
 2 
 
 97 
 
 1 
 
 23 
 
 570 
 
 81 
 
 
 R. L. Mason. 
 
 
 
 30 da. 
 
 
 33 
 
 173 
 
 91 
 
 
 93 
 
 
 
 173 
 
 98 
 
 
 Samuel Wilder. 
 
 
 
 20 da. 
 
 July 
 
 14 
 
 35 
 
 1485 
 
 
 5 
 
 69 
 
 
 
 1479 
 
 31 
 
 
 M. Seelye, Cash. 
 H. Sears, Cash. 
 
 
 
 
 3333 
 
 91 
 
 15 
 3 
 
 09 
 89 
 
 3 
 
 47 
 
 3215 
 
 35 
 11 
 
 
 30 da. 
 
 535 
 
 522 
 
 
 20 da. 
 
 
 15 
 
 1500 
 
 
 5 
 
 75 
 
 
 
 1494 
 
 25 
 
 
 Stillman & Moore. 
 
 
 
 30 da. 
 
 
 31 
 
 2650 
 
 
 13 
 
 81 
 
 5 
 
 31 
 
 2631 
 
 88 
 
 
 Wm. Raymond. 
 
 
 
 
 4675 
 
 
 
 
 31 
 
 45 
 
 5 
 
 31 
 
 4648 
 
 34 
 
 
192 
 
 Dr. 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 NEW YORK DRAFT REGISTER. 
 
 SECOND NATIONAL COLLEGE BANK, 
 MONDAY, 
 
 NO. 
 
 BY WHOM DRAWN. 
 
 OF WHAT PLACE. 
 
 ON WHAT BANK. 
 
 FACE. 
 
 
 
 Balance, 
 
 
 
 
 
 96375 
 
 13 
 
 234 
 
 First NationaL 
 
 Dayton. 
 
 Shoe & Leather. 
 
 2875 
 
 
 
 
 1851 
 
 Commercial. 
 
 Corning. 
 
 Metropolitan. 
 
 542 
 
 75 
 
 
 
 753 
 
 City Bank. 
 
 Holley. 
 
 Broadway. 
 
 37 
 
 20 
 
 
 
 115 
 
 Seward's. 
 
 Auburn. 
 
 Chemical. 
 
 1123 
 
 U 
 
 
 
 1331 
 
 Exchange. 
 
 Geneva. 
 
 Third National. 
 
 2475 
 
 
 
 
 4 
 
 Steele & Avery. 
 
 City. 
 
 TUES 
 
 D. Slote & Co. 
 DAY, 
 
 375 
 
 
 7428 
 
 09 
 
 
 
 
 103703 
 
 22 
 
 
 
 
 
 
 
 Balance, 
 
 
 
 
 
 87321 
 
 97 
 
 161 
 
 Woodruff's. 
 
 Livonia. 
 
 Sixth National. 
 
 499 
 
 50 
 
 
 
 943 
 
 First National. 
 
 Rockford. 
 
 Broadway. 
 
 2500 
 
 
 
 
 341 
 
 Geo. K. Warren c% Co. 
 
 Bath. 
 
 Union Trust Co. 
 
 1500 
 
 
 
 
 108 
 
 Ward's. 
 
 Union. 
 
 Third National. 
 
 86 
 
 90 
 
 
 
 347 
 
 First National. 
 
 Butler. 
 
 Chemical. 
 
 583 
 
 11 
 
 
 
 4043 
 
 Second National. 
 
 Byron. 
 Warsaw. 
 
 WEDNES 
 
 Broadway. 
 
 2586 
 
 74 
 
 
 
 48 
 
 Clark's. 
 
 Sixth National. 
 DAY, 
 
 138 
 
 18 
 
 7894 
 
 43 
 
 
 
 
 95216 
 
 40 
 
 
 
 
 
 
 
 Balance, 
 
 
 
 
 
 78319 
 
 40 
 
 858 
 
 T. J. & W. E. Upton, 
 
 Collection. 
 
 
 119 
 
 75 
 
 
 
 854 
 
 R. L. Mason. 
 
 a 
 
 
 432 
 
 50 
 
 
 
 1486 
 
 Exchange National. 
 
 Dansville. 
 
 Bowery. 
 
 Fifth National. 
 
 10494 
 
 75 
 
 
 
 4142 
 
 Wayne Co. National. 
 
 Lyons. 
 
 5000 
 
 
 
 
 372 
 
 Third National. 
 
 Newijort. 
 
 Bowery. 
 
 1287 
 
 19 
 
 
 
 1009 
 
 First National. 
 
 Memphis. 
 
 Broadway. 
 
 63 
 
 94 
 
 
 
 416 
 
 Wheeler's. i 
 Richmond's. 
 
 Belleville. 
 
 Second National. 
 
 489 
 
 43 
 
 
 
 3142 
 
 Batavia. 
 
 Chemical. 
 
 6300 
 
 
 
 
 113 
 
 Ray Brothers. 
 
 City. 
 
 THURS 
 
 Cook & Lane. 
 DAY, 
 
 987 
 
 
 25174 
 
 66 
 
 
 
 
 103493 
 
 96 
 
 
 
 
 
 
 
 Balance, 
 
 
 
 
 
 91773 
 
 70 
 
 1042 
 
 First National. 
 
 Princeton. 
 
 Bowery. 
 
 193 
 
 82 
 
 
 
 213 
 
 Woodruff's. 
 
 Livonia. 
 
 Sixth National. 
 
 1482 
 
 90 
 
 
 
 194 
 
 Ward's. 
 
 Union. 
 
 Third National. 
 
 - 18 
 
 25 
 
 
 
 1516 
 
 Exchange National. 
 
 Dansville. 
 
 Bowery. 
 
 411 
 
 07 
 
 
 
 2104 
 
 Commercial. 
 
 Corning. 
 
 Metropolitan. 
 
 1242 
 
 16 
 
 
 
 13492 
 
 First National. 
 
 Waverly. 
 
 Union Trust Co. 
 
 27 
 
 90 
 
 
 
 826 
 
 City Bank. 
 
 Holley. 
 
 Broadway. 
 
 146 
 
 83 
 
 
 
 1513 
 
 Exchange. 
 
 Geneva. 
 
 Third National. 
 
 875 
 
 
 
 
 482 
 
 First NationaL 
 
 Butler. 
 
 FRI 
 
 Chemical. 
 DAY. 
 
 218 
 
 11 
 
 4615 
 
 04 
 
 
 
 . 
 
 96387 
 
 74 
 
 
 
 
 
 
 
 Balance, 
 
 
 
 
 
 84550 
 
 87 
 
 8046 
 
 First National. 
 
 Belfast. 
 
 Ninth National. 
 
 1491 
 
 50 
 
 
 
 1143 
 
 Second National. 
 
 Westboro. 
 
 Bowery. 
 
 188 
 
 63 
 
 
 
 896 
 
 Grangers' 
 
 Jackson. 
 
 Metropolitan. 
 
 864 
 
 50 
 
 
 
 693 
 
 Exchange. 
 
 Norwich. 
 
 Sixth National. 
 
 92 
 
 18 
 
 
 
 13482 
 
 Manufacturers' 
 
 Middletown. 
 
 Ninth National. 
 
 1143 
 
 75 
 
 
 
 132 
 
 F. W. Richmond. 
 
 Goshen. 
 
 Chemical. 
 
 945 
 
 
 4735 
 
 56 
 
 
 
 
 89276 
 
 43 
 
 
 
 
 
 
 
 
 
THEOKETICAL AND PKACTICAL BOOK-KEKPING. 
 
 NEW YORK DRAFT REGISTER. 
 
 In Account with CHEMICAL NATIONAL BANK, NEW YORK. 
 JUNE 17, 18—. 
 
 ly;^ 
 
 NO. 
 
 IN WHOSE FAVOR DRAWN. 
 
 EXCHANGE. 
 
 FACE. 
 
 
 
 585 
 
 Lord & Bennett, 
 
 
 50 
 
 325 
 
 10 
 
 
 
 586 
 
 Samuel Wilder, 
 
 1 
 
 50 
 
 1200 
 
 . 
 
 
 
 587 
 
 G. W. Cook, 
 
 
 15 
 
 56 
 
 15 
 
 
 
 588 
 
 Mever & Kauffman, 
 
 3 
 
 13 
 
 2500 
 
 
 
 
 589 
 
 Stillman & Moore, 
 
 
 50 
 
 300 
 
 
 
 
 590 
 
 Thos. H. Wilson, 
 
 13 
 
 50 
 
 10000 
 
 
 
 
 591 
 
 W. F. Jameson, 
 
 Balance (Red Ink), 
 
 JUNE IS. 
 
 3 
 
 50 
 
 2000 
 
 
 16381 
 87321 
 
 25 
 97 
 
 
 20 
 
 78 
 
 
 
 103703 
 
 33 
 
 
 
 
 
 
 
 
 593 
 
 Lord & Bennett, 
 
 1 
 
 
 1141 
 
 80 
 
 
 
 593 
 
 Bingham, Field & Ward, 
 
 
 25 
 
 133 
 
 30 
 
 
 
 594 
 
 Win. Raymond, 
 
 
 50 
 
 437 
 
 
 
 
 595 
 
 Johnson Manufacturing Co., 
 
 6 
 
 
 G444 
 
 
 
 
 596 
 
 Ray Brothers, 
 
 4 
 
 
 4496 
 
 
 
 
 597 
 
 R. L. Mason, 
 Balance, 
 
 JUNE 19. 
 
 4 
 
 
 4246 
 
 
 16897 
 78319 
 
 40 
 
 
 15 
 
 75 
 
 
 
 95316 
 
 40 
 
 
 
 
 
 
 
 598 
 
 First National, Belleville, 
 
 
 25 
 
 411 
 
 50 
 
 
 
 599 
 
 Norwicli National, 
 
 
 
 3000 
 
 
 
 
 600 
 
 T. J. & W. E. Ui^ton, 
 
 
 50 
 
 400 
 
 
 
 
 601 
 
 Lord & Bennett, 
 
 
 15 
 
 52 
 
 35 
 
 
 
 602 
 
 Samuel Wilder, 
 
 3 
 
 34 
 
 1790 
 
 26 
 
 
 
 603 
 
 Johnson Manufacturing Co., 
 
 7 
 
 50 
 
 59V/2 
 
 50 
 
 
 
 604 
 
 D. J. Slocum, 
 
 
 15 
 
 74 
 
 75 
 
 11721 
 
 26 
 
 
 Balance, 
 
 
 
 
 
 91772 
 
 70 
 
 
 JUNE 20. 
 
 10 
 
 79 
 
 
 
 103493 
 
 96 
 
 
 
 
 
 
 
 605 
 
 Johnson Manufacturing Co., 
 
 1 
 
 35 
 
 998 
 
 75 
 
 
 
 606 
 
 D. C. Allison, 
 
 
 15 
 
 17 
 
 
 
 
 607 
 
 W. F. Jameson, 
 
 
 50 
 
 244 
 
 50 
 
 
 
 608 
 
 L. S. Liinsing, 
 
 
 35 
 
 116 
 
 
 
 
 609 
 
 D. J. Slocum, 
 
 6 
 
 34 
 
 4993 
 
 75 
 
 
 
 610 
 
 P. J. Dudley, 
 
 
 15 
 
 73 
 
 50 
 
 
 
 611 
 
 Meyer & Kauifman, 
 
 3 
 
 13 
 
 3496 
 
 87 
 
 
 
 613 
 
 W. B. Sage, 
 
 1 
 
 35 
 
 1000 
 
 
 
 
 613 
 
 Lord & Bennett, 
 
 2 
 
 
 1598 
 
 
 
 
 614 
 
 D. G. Lamson's Bank, 
 Balance, 
 
 JUNE 21. 
 
 
 35 
 
 398 
 
 50 
 
 11836 
 84550 
 
 87 
 87 
 
 
 15 
 
 16 
 
 
 
 96387 
 
 U 
 
 
 
 
 
 
 
 615 
 
 Cascade Bank, Portage, 
 
 
 35 
 
 843 
 
 65 
 
 
 
 616 
 
 Chas. J. Burke, 
 
 13 
 
 50 
 
 9990 
 
 
 
 
 617 
 
 R. L. Mason, 
 
 2 
 
 74 
 
 2188 
 
 
 
 
 618 
 
 R. W. Bush, 
 
 
 15 
 
 18 
 
 50 
 
 
 
 619 
 
 A. B. Ward, 
 
 
 25 
 
 143 
 
 
 
 
 630 
 
 Jerome Sackett, 
 Balance, 
 
 
 15 
 
 82 
 
 19 
 
 13264 
 76012 
 
 34 
 09 
 
 
 18 
 
 04 
 
 
 
 89376 
 
 43 
 
 ' 
 
 
 
 
 
 
 
 
194 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 Dr 
 
 NEW YORK DRAFT REGISTER. 
 
 SECOND NATIONAL COLLEGE BANK, 
 SATURDAY, 
 
 NO. 
 
 BY WHOM DRAWN. 
 
 OF WHAT PLACE. 
 
 ON WHAT BANK. 
 
 FACE. 
 
 
 
 Balance, 
 
 
 
 
 
 76012 
 
 09 
 
 828 
 
 Chas. J. Burke, 
 
 Collection, 
 
 
 957 
 
 65 
 
 
 
 1009 
 
 Howard's, 
 
 Dundee, 
 
 Bowery, 
 
 440 
 
 94 
 
 
 
 464 
 
 First National, 
 
 Preston, 
 
 Mfg. & Traders', 
 
 132 
 
 29 
 
 
 
 104 
 
 J. H. Clark's, 
 
 Woodville, 
 
 Croton, 
 
 273 
 
 91 
 
 
 
 1264 
 
 Second National, 
 
 Plainville, 
 
 Ninth National, 
 
 2500 
 
 
 
 
 749 
 
 Lament & Thomas, 
 
 Morrisville, 
 
 Sixth National, 
 
 382 
 
 46 
 
 
 
 6891 
 
 First National, 
 
 Williamstown, 
 
 Chemical, 
 
 11 
 
 18 
 
 
 
 317 
 
 Woodruff's, 
 
 Livonia, 
 
 Sixth National, 
 
 86 
 
 28 
 
 
 
 910 
 
 Exchange, 
 
 Geneva, 
 
 First National, 
 
 863 
 
 25 
 
 5653 
 
 36 
 
 
 
 
 81666 
 
 05 
 
 
 
 
 
 COLLECTION REGISTER. 
 
 WHEN I.EIT. 
 
 June 
 
 17 
 
 18 
 
 19 
 
 20 
 
 854 
 855 
 856 
 
 857 
 858 
 859 
 860 
 861 
 863 
 863 
 864 
 865 
 866 
 867 
 868 
 869 
 870 
 871 
 872 
 873 
 874 
 875 
 876 
 877 
 878 
 879 
 880 
 881 
 882 
 883 
 884 
 885 
 886 
 887 
 888 
 889 
 890 
 
 L. W. Wooden, 
 L. F. Chappell, 
 W. B. Murdock, 
 
 D. A. Welles, 
 Daniel Boody, 
 W. Haynes, 
 Peter liradley, 
 N. Fisher & Co., 
 Union Bank, 
 Johnson Mfg. Co., 
 D. B. Hill, 
 P. G. Warren, 
 D. L. Price & Co., 
 A. A. Wildman, 
 W. L. Peters, 
 W. F. Burrows, 
 Miller & Co., 
 Wendell & Hone, 
 Harvey Brown, 
 0. W. Lansing, 
 M. M. Ward, 
 Yeoman & Blake, 
 W. H. Atwater, 
 W. Dunn, 
 Ward & Holmes, 
 King & Co., 
 Warren & Co., 
 Wilson & Caldwell, 
 Nellis & Knox, 
 Jas. Angle, 
 Hart & Shepard, 
 Peter Wallace & Co. , 
 Jas. Angle, 
 W. A. Hood, 
 L. W. Gage, 
 Tubhs & Co., 
 Norman Lacy, 
 
 ENDORSER. 
 
 R. L. Mason, 
 Stillman & Moore, 
 G. H. Perkins, 
 
 James Angle, 
 T. J. & W. E. Upton, 
 Samuel Wilder, 
 Wm. Raymond, 
 H. B. Cook& Co., 
 D. J. Loomis, 
 A. B. Wilson, 
 W. F. Jameson, 
 Johnson Mfg. Co., 
 Maxwell Day, 
 James Angle, 
 W. F. Jameson, 
 James Angle, 
 Ray Brothers, 
 Meyer & Kauffman, 
 
 A. L. Underbill, 
 Brooks & Smith, 
 S. P. Stevens, 
 
 B. T. Jones & Co., 
 Lord & Bennett, 
 Wm. Raymond, 
 
 D. J. Slocum, 
 Samuel Wilder, 
 Chas. J. Burke, 
 L. W. Perry, 
 Thos. H. Wilson, 
 P. G. White, 
 
 C. A. Stone, 
 Weaver & Jones, 
 
 E. H, Mott & Co., 
 C. A. Parry & Co., 
 Warren & Sharp, 
 Samuel Wilder, 
 
 T. J. & W. E. Upt o n , 
 
 WHERE PAYABLE. 
 
 Nyack, 
 
 
 Chemical, 
 
 Second Nat'l, 
 
 Lyons, 
 
 Wayne Co. Nat'l, 
 
 Canton, 
 
 
 Farmers', 
 
 Union, City, 
 
 
 
 Hoboken, 
 
 
 Chemical, 
 
 Norwich, 
 
 
 Norwich Nat'l, 
 
 Rockford, 
 
 
 First National, 
 
 City, 
 
 
 
 Union Bank, 
 
 City, 
 
 
 City, 
 
 
 
 Lyons, 
 
 
 Wayne Co. Nat'l, 
 
 Bristol, 
 
 
 Exchange Nat'l, 
 
 Kingston, 
 
 
 Traders', 
 
 Rockford, 
 
 
 First National, 
 
 Hoboken, 
 
 
 Chemical, 
 
 Exchange, C 
 
 ty. 
 
 
 First Nat'l, K 
 
 ingston. 
 
 Traders' Nat'l, 
 
 Canton, 
 
 
 Farmers' Bank, 
 
 L'nion, City, 
 
 
 
 City, 
 
 
 
 City, 
 
 
 
 City, 
 
 
 
 Lyons, 
 
 
 Wayne Co. Nat'l, 
 
 Corning, 
 
 
 Livingston's, 
 
 Lyons, 
 
 
 Wayne Co. Nat'l, 
 
 Canton, 
 
 
 Farmers', 
 
 Belfast, 
 
 
 First National, 
 
 Newport, 
 
 
 Third National, 
 
 Rockford, 
 
 
 First National, 
 
 City, 
 
 
 
 City, 
 
 
 
 City, 
 
 
 
 City, 
 
 
 
 Exchange, Ci 
 
 ty. 
 
 
 City, 
 
 
 
 Kingston, 
 
 
 Traders' Nat'l, 
 
 Rockford, 
 
 
 First National, 
 
 TO WHOM SENT. 
 
THKOKETICAL AND PRACTICAL BOOK-KEEPING. 
 
 195 
 
 NEW YORK DRAFT REGISTER. 
 
 In Account with CHEMICAL NATIONAL BANK, NEW YORK. 
 JUNE 22, 18—. 
 
 Cr. 
 
 NO. 
 
 IN WHOSE FAVOR DBAWN. 
 
 EXCHANGE. 
 
 FACE. 
 
 
 621 
 
 F. N. Jefferson, 
 
 
 15 
 
 114 
 
 78 
 
 
 
 622 
 
 D. J. Slocum, 
 
 
 50 
 
 200 
 
 
 
 
 623 
 
 Johnson Manufacturing Co., 
 
 4 
 
 38 
 
 3500 
 
 
 
 
 624 
 
 J. H. Wentworth & Co., 
 
 
 25 
 
 100 
 
 
 
 
 625 
 
 L. J. Farnsworth, 
 Balance, 
 
 3 
 
 75 
 
 3000 
 
 
 6914 
 
 74751 
 
 78 
 
 27 
 
 
 
 9 
 
 03 
 
 
 
 81666 
 
 05 
 
 
 
 
 
 
 
 
 
 COLLECTION REGISTER. 
 
 DATE 
 
 
 TIME. 
 
 WHEN DUE. 
 
 June 
 
 17 
 
 Sight, 
 
 
 
 April 
 
 1 
 
 3 mo. 
 
 July 
 
 4 
 
 June 
 
 17 
 
 Sight, 
 
 
 
 May 
 
 18 
 
 30 da. 
 
 June 
 
 20 
 
 June 
 
 17 
 
 Sight, 
 
 
 
 
 13 
 
 10 da. 
 
 
 26 
 
 
 17 
 
 Sight, 
 
 
 
 
 17 
 
 Sight, 
 
 
 
 
 17 
 
 Sight, 
 
 
 
 
 17 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 18 
 
 10 da. 
 
 July 
 
 1 
 
 May 
 
 1 
 
 2 mo. 
 
 
 3 
 
 April 
 
 30 
 
 2 mo. 
 
 
 3 
 
 June 
 
 18 
 
 15 da. 
 
 
 G 
 
 
 19 
 
 2 da. 
 
 Juno 
 
 24 
 
 
 18 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 
 18 
 
 Sight, 
 
 
 
 
 19 
 
 Sight, 
 
 
 
 Mch. 
 
 22 
 
 3 mo. 
 
 June 
 
 25 
 
 May 
 
 25 
 
 30 da. 
 
 
 27 
 
 June 
 
 19 
 20 
 20 
 
 Sight, 
 Sight, 
 Sight, 
 
 
 
 FOR WHOM COLLiECTEU. 
 
 K. L. Mason, 
 Stillman & Moore, 
 0. H. Perkins, 
 
 James Angle, 
 T. J. & W. E. Upton, 
 Samuel Wilder, 
 Wm. Raymond, 
 Norwich National, 
 Exch. National, Bristol, 
 Tniders' Nat'l, Kingston, 
 Ourselves, 
 Ourselves, 
 Ourselves, 
 Ourselves, 
 AV. F. Jameson, 
 James Angle, 
 Ray Broth e''s, 
 Meyer & KaufEman, 
 Geo. K. Warren & Co., 
 First National, Rockford, 
 Farmers', Canton, 
 First National, Belleville, 
 Ourselves, 
 Ourselves, 
 D. J. Slocum, 
 Samuel Wilder, 
 •Chas. J. Burke, 
 L. W. Perry, 
 Thos. H. Wilson, 
 Farmers' Bank, 
 D. G. Lamson's Bank, 
 Wayne Co. National Bank, 
 Traders' National, 
 Wisner & Clark's Bank, 
 Norwich National, 
 Ourselves, 
 Ourselves, 
 
 
 
 CHECK. 1 
 
 
 T.otCr. 
 
 Paid. 
 
 432 
 
 50 
 
 1250 
 
 
 ^/ 
 
 
 926 
 
 18 
 
 
 
 Int. 
 
 
 
 
 750 
 
 
 
 
 119 
 
 75 
 
 V 
 
 V 
 
 1842 
 
 11 
 
 
 
 143 
 
 90 
 
 
 
 4150 
 
 
 
 
 493 
 
 18 
 
 
 
 573 
 
 90 
 
 
 
 225 
 
 
 
 
 2800 
 
 
 
 
 340 
 
 
 
 
 1350 
 
 
 
 
 918 
 
 75 
 
 
 
 1290 
 
 
 
 
 482 
 
 60 
 
 
 
 1194 
 
 83 
 
 
 
 942 
 
 17 
 
 
 
 1455 
 
 
 
 
 32 
 
 18 
 
 
 
 411 
 
 75 
 
 
 V 
 
 211 
 
 50 
 
 
 
 275 
 
 50 
 
 
 
 149 
 
 44 
 
 
 
 856 
 
 90 
 
 
 
 1492 
 
 
 
 
 364 
 
 87 
 
 
 
 182 
 
 50 
 
 
 
 94 
 
 16 
 
 
 
 298 
 
 75 
 
 
 ^ 
 
 873 
 
 25 
 
 
 
 1400 
 
 
 
 
 375 
 
 
 
 
 162 
 
 11 
 
 
 
 194 
 
 50 
 
 
 
 34 
 
 17 
 
 
 
 KBMAKKS. 
 
 Proceeds by N. Y. draft. 
 Protested. 
 
 Proceeds by N. Y. draft. 
 
196 
 
 THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 DISCOUNT TICKLER. 
 
 JUNE 17, 18—. 
 
 NO. 
 
 PAYEK. 
 
 ENDORSER. 
 
 WHERE PAYABLE. 
 
 TO WHOM SENT. 
 
 AMOUNT. 
 
 CK 
 
 REMARKS. 
 
 •482 
 483 
 484 
 
 H. Whitaker, 
 H. C. Decker, 
 W. S. Chapiu, 
 
 D. J. Slocum, 
 Wm. Eaymond, 
 W. W. Wheeler, 
 
 2d Nat'l, Lyons, 
 Exchange, City, 
 Woodruff, Livonia, 
 
 Wayne Co. Lyons 
 Same, 
 
 1500 
 
 8750 
 
 500 
 
 
 P. & E. 
 
 18. 
 
 485 
 486 
 
 Maxwell Day, 
 A. 0. Bunnell, 
 
 Burt, Brace & Co. 
 Joseph Cone, 
 
 Our Bank, 
 Exch., Dansvillc, 
 
 Same, 
 
 10000 
 10500 
 
 19. 
 
 487 
 
 488 
 489 
 490 
 
 A. M. Hastings, 
 
 W. T. Tinsley, 
 H. Bancroft, 
 J. Wilson & Co., 
 
 Samuel Wilder, 
 Mover & Kauffman 
 J. A. Munson, 
 Samuel Wilder, 
 Lord & Bennett, 
 
 Union, City, 
 
 Wayne Co., Lyons, 
 Our Bank, 
 Our Bank, 
 
 Same, 
 
 5000 
 
 7500 
 
 9000 
 
 15000 
 
 20, 
 
 491 
 492 
 
 P. J. Smith, 
 Johnson Mfg. Co. 
 
 Ray Brothers, 
 Freeman Clarke, 
 
 3d Nat'l, III ew port. 
 Our Bank, 
 
 Same, 
 
 7200 
 3000 
 
 21, 
 
 493 
 494 
 495 
 
 R. L. Mason, 
 D.W. Smith & Co. 
 L. J. Pratt & Co., 
 
 P. J. Moore, 
 James Angle, 
 James Angle, 
 
 Our Bank, 
 Union, City, 
 Exchange, City, 
 
 5000 
 
 2876 
 1500 
 
 90 
 
 22. 
 
 496 
 497 
 498 
 499 
 
 Bingham, F. & AV. 
 P. Wise & Son, 
 Creed & Wilson, 
 Brown & Wood, 
 
 C. D. Cox, 
 Bingham, F.&W., 
 R;iy Brothers, 
 B. Thomas & Son, 
 
 Our Bank, 
 
 2d Nat'l, Palmyra. 
 
 Union, City, 
 
 3d Nat'l, New])ort, 
 
 Same, 
 Same, 
 
 2150 
 1800 
 2500 
 1750 
 
 v 
 
 Protested. 
 P. & E. 24th. 
 
 24. 
 
 500 
 501 
 
 W. F. Jameson, 
 Robert Vaughn, 
 
 James Brackett, 
 Lord & Bennett, 
 
 Our Bank, 
 Union, City, 
 
 12000 
 2540 
 
 18 
 
 25. 
 
 502 
 503 
 
 H. W. Glass, 
 L. W. Davis, 
 
 Wm. Raymond, 
 Thos. n. Wilson, 
 
 Brown & Co., Can- 
 ton, 
 Exchange, City, 
 
 Farmers', Canton 
 
 785 
 3250 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 COLLECTION TICKLER. 
 
 JUNE 17, 18—. 
 
 197 
 
 NO. 
 
 PAYER. 
 
 WHERR PAYABLE. 
 
 TO WHOM SENT. 
 
 FOR WHOM coi,m:ctkd. 
 
 AMOUNT. 
 
 OK 
 
 REMARKS. 
 
 819 
 820 
 
 J. H. Wing, 
 Porter Far ey, 
 
 Lyons, 
 Canton, 
 
 Wayne Co., Lyons, 
 Farmers', Canton, 
 
 R. L. Mason, 
 Stillman & Moore, 
 
 584 
 1250 
 
 75 
 
 V 
 
 P. & K. 
 
 18. 
 
 831 
 
 822 
 823 
 
 Jolin B. Sage, 
 
 Henrv A. Strong, 
 W. D. McGuire, 
 
 Geo. K. Warren & 
 
 Co., Batli, 
 Union, City, 
 Norwich, 
 
 Same, 
 
 Norwich National, 
 
 Thos. H. Wilson, 
 
 Meyer & Kauflman 
 Wm. Raymond, 
 
 Int. 
 
 817 
 
 215 
 
 368 
 
 90 
 
 
 
 19. 
 
 824 
 825 
 
 820 
 
 ■ »— 
 
 E. F. Woodbury, 
 .J. E. Booth, 
 
 P. Ford, 
 
 Newport, 
 Canton, 
 
 Rockford Co. Bank 
 
 3d Nat'l, Newport, 
 Farmers', Canton, 
 
 1st Nat'l, Rockford 
 
 Samuel Wilder, 
 Bingham, F. & W. 
 
 Ray Brothers, 
 
 63 
 216 
 
 Int. 
 
 1483 
 
 92 
 25 
 
 50 
 
 
 
 20. 
 
 827 
 828 
 829 
 830 
 
 857 
 
 J. M. Harrison, 
 R. S. Kenyon, 
 A. L. Mabhett, 
 J. L. Townsend, 
 
 D. A. Welles, 
 
 Bristol, 
 New York, 
 Lyons, 
 Bath, 
 
 Union, City, 
 
 Exchange National 
 Chemical, 
 Wayne Co. Nat'l, 
 Geo. K. Warren & 
 Co., Bath, 
 
 Lord & Bennett, 
 Chas. J. Burke, 
 D. J. Slocum, 
 James Angle, 
 
 James Angle, 
 
 : 1500 
 
 957 
 
 88 
 
 396 
 
 Int. 
 
 750 
 
 65 
 40 
 15 
 
 
 
 21, 
 
 831 
 
 832 
 
 F. W. Clark, 
 Ward Kelly, 
 
 Norwich, 
 Union, City, 
 
 Norwich National, 
 
 Johnson Mfg. Co., 
 Maxwell Day, 
 
 911 
 1350 
 
 13 
 
 
 
 22. 
 
 833 
 834 
 835 
 836 
 
 Arthur Ranney, 
 Jacob Hoekstra, 
 A. M. Hastings, 
 L. S. Fulton, 
 
 Canton, 
 
 Exchange, City, 
 Yonkers, 
 Lyons, 
 
 Farmers' Bank, 
 
 Chemical, 
 Wayne Co. Nat'l, 
 
 L. J. Farnsworth, 
 S. H. Lowe, 
 W. F. Jameson, 
 R. L. Mason, 
 
 1215 
 918 
 856 
 126 
 
 30 
 62 
 90 
 
 
 
 24. 
 
 837 
 
 872 
 
 Chas. F. Ham, 
 Harvey Brown, 
 
 Union, City, 
 Union, City, 
 
 
 Stillman & Moore, 
 Geo. K. Warren & 
 Co., 
 
 318 
 942 
 
 20 
 17 
 
 9 
 
 
 
 
 25. 
 
 
 886 James Angle, 
 
 Our Bank, 
 
 Traders' National. 
 
 1400 
 
198 
 
 THEORETICAL AND PRACTICAL BOOK-KEEPlNft. 
 
 DEPOSIT LEDGER. 
 
 We give below three forms of Deposit Ledger, and following those the form of what is called the 
 Balance Ledger. The first form illustrated does not differ from the ordinary Ledger, excepting that an 
 extra column is provided on the right side for balances. In case of an over-draft, the amount of it 
 should be entered in the balance column in red ink. 
 
 The second form differs from the first in having the credit amounts placed next to the debit amounts, 
 and the folio and date and explanation to the left and right of these. Computations are greatly facili- 
 tated by bringing the money columns in immediate proximity. 
 
 The third form contemplates doubling the capacity of the page, by providing two distinct sets of 
 columns, omitting the explanation column. The daily balances are here shown, the same as in the 
 other forms. If found desirable, two accounts may be opened on the same page, one on each side of 
 the double ruling. 
 
 CHAS. J. BURKE. 
 
 DATE. 
 
 ITEM. 
 
 Folio. 
 
 AMOUNT. 
 
 DATE. 
 
 ITEM. 
 
 Folio. 
 
 BAI.ANCE. 
 
 AMOUNT. 
 
 June 
 
 21 
 
 
 J. 
 
 12396 
 
 50 
 
 June 
 
 15 
 
 
 
 32173 
 
 11 
 
 
 
 
 25 
 
 
 
 6305 
 
 53 
 
 
 17 
 
 
 K. 
 
 
 
 854 
 
 18 
 
 
 36 
 
 
 
 4103 
 
 42 
 
 
 17 
 
 
 J. 
 
 38487 
 
 29 
 
 5460 
 
 
 
 27 
 
 
 
 675 
 
 
 
 19 
 
 
 
 42413 
 
 71 
 
 3926 
 
 42 
 
 
 28 
 
 
 
 3223 
 
 71 
 
 
 21 
 22 
 24 
 25 
 26 
 27 
 28 
 
 
 
 31608 
 32465 
 35965 
 29659 
 25556 
 27131 
 26095 
 
 21 
 36 
 36 
 83 
 41 
 41 
 25 
 
 1491 
 
 957 
 
 3500 
 
 2250 
 2187 
 
 15 
 55 
 
 CHAS. J. BURKE. 
 
 DATE 
 
 
 Folio. 
 J. 
 
 AMOUNT. 
 
 AMOUNT. 
 
 BAL.ANCE. 
 
 Folio. 
 
 DATE 
 
 
 June 
 
 21 
 
 12396 
 
 50 
 
 
 
 32173 
 
 11 
 
 
 June 
 
 15 
 
 
 25 
 
 
 6305 
 
 53 
 
 854 
 
 18 
 
 
 
 R. 
 
 
 17 
 
 
 26 
 
 
 4103 
 
 42 
 
 5460 
 3926 
 1491 
 957 
 3500 
 
 42 
 15 
 
 38487 
 42413 
 31508 
 32465 
 35965 
 29659 
 25556 
 
 29 
 71 
 21 
 36 
 36 
 83 
 41 
 
 J. 
 J. 
 
 
 17 
 19 
 21 
 22 
 24 
 25 
 26 
 
 CHAS. J. BURKE. 
 
 DATE. 
 
 POLIO. 
 
 DEBIT. 
 
 CREDIT. 
 
 BALANCE. 
 
 DATE. 
 
 FOLIO. 
 
 DEBIT. 
 
 CREDIT. 
 
 BALANCE. 
 
 June 
 
 15 
 
 
 
 
 
 
 32173 
 
 11 
 
 June 
 
 21 
 
 J. 
 
 12396 
 
 50 
 
 
 
 31508 
 
 21 
 
 
 17 
 
 R. 
 
 
 
 854 
 
 18 
 
 33027 
 
 29 
 
 
 22 
 
 
 
 
 957 
 
 15 
 
 32465 
 
 36 
 
 
 17 
 
 J. 
 
 
 
 5460 
 
 
 38487 
 
 29 
 
 
 24 
 
 
 
 
 3500 
 
 
 35965 
 
 36 
 
 
 19 
 
 
 
 
 3926 
 
 42 
 
 42413 
 
 71 
 
 
 35 
 
 
 6305 
 
 53 
 
 
 
 29659 
 
 83 
 
 
 21 
 
 
 
 
 1491 
 
 
 43904 
 
 71 
 
 
 26 
 
 
 4103 
 
 42 
 
 
 
 25556 
 
 41 
 
 BALANCE LEDGER. 
 
 The Balance Ledger is made with a very large page — 18 x 23 inches not being an unusual size — large 
 enough to contain the accounts of forty or more depositors on a page. The left hand page is ruled with 
 a column for the names of depositors, and another for the balances of depositor's accounts, on the extreme 
 left; and the remainder of the page is divided into three sets of money columns, each set containing four 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 199 
 
 columns. The left hand column in each set is devoted to "Checks in Detail," the second to "Total 
 Checks," the third to "Deposits," and the fourth to "Balances." 
 
 The riglit liand page is precisely the same as the other, excepting that the column for the depositor's 
 names is placed upon the extreme right. The same depositor's names are written on both pages, and 
 one line across the page is designed to contain all of the facts regarding the account of the depositoi 
 whose name appears upon that line for a week or six consecutive days. 
 
 At the close of banking hours each day, every customer's deposit for the day is added to his balance 
 of the day previous, and from this sum the aggregate of his checks is deducted, and the new balance is 
 extended into the " Balance " column. All of the columns are then footed, excepting that devoted to 
 the " Checks in Detail," and in case there are several pages of accounts, the footings are carried forward, 
 so that the final footings shall exhibit the total amount of the checks paid and the total amount of 
 deposits received for the day, as well as the aggregate of the balances of depositor's accounts. The 
 footing of the column of "Total Checks" is carried to the debit of Deposits, on the right hand side of 
 the Journal, and the footing of the column of "Deposits" to the credit of Deposits, on the left hand 
 side of the Journal. 
 
 At the end of each week every depositor's balance must be carried forward to a new page. In case 
 of very active accounts, it is often necessary to leave two or three lines in the Ledger to accommodate 
 the Checks in Detail. 
 
 ADVANTAGES OF THE BALANCE LEDGER. 
 
 The advantages possessed by this form of Ledger are: first, the paying teller can more readily ascer- 
 tain the condition of a depositor's account; second, the necessity of writing the deposits on both sides 
 of the Journal every day checks are paid and deposits received is obviated; and, third, the book-keeper 
 lias forty or more accounts before him at once, instead of being required to consume a large part of the 
 time turning from one account to another. 
 
 EMPLOYMENT OF THE BALANCE LEDGER IN THE FOREGOING SET. 
 
 ' Write the names of the depositors in alphabetical order, and Certificates of Deposit, Certified 
 Checks, Cashier and the transient accounts beneath, on the extreme left of the left hand page and on 
 the extreme right of the right hand page, being particular to get each name on the same line on each 
 page. 'Enter the balance of each account in the "Balance" column, opposite the depositor's name. 
 ' Enter each customer's checks paid during the day in the " Checks in Detail " column, opposite his 
 name, *and extend the aggregate of such checks to the "Total Checks" column. 'Enter each cus- 
 tomer's deposit in the "Deposits" column, 'and also any collection made for him, from the Collection 
 Register or Collection Tickler, 'and the proceeds of paper discounted for him, not paid in cash, from 
 the Discount Register. * Enter the proceeds of discounted paper that was paid in cash also in the 
 " Deposits" column, opposite "Cashier Account." 'Add each customer's deposit for the day to the 
 last balance of his account, and from that sum deduct the amount of his checks. '" The difference will 
 show the present balance of his account, and will be extended into the next " Balance " column, opposite 
 his name. " When the account is overdrawn, enter the amount of the " overdraft " in red inh. 
 
 'MVhen the balances of all the accounts have been entered as directed, add the "Total Checks," 
 "Deposits" and "Balance" columns. 
 
 " To prove the correctness of this work, find the difference between the total checks and deposits 
 for the day. " This difference will equal the difference between the total balances of the day and the 
 total balances of the day previous. '* If the " Balance " column contains both black and red ink entries, 
 foot first the black and then the red ink amounts, and place the footings at the bottom of the column 
 in corresponding ink, and exhibit the difference beneath; which difference will be tlie amount due 
 depositors. 
 
 " The footing of the " Total Checks "' column is debited to deposits in the Journal, and the footing 
 of the " Deposits " column is credited to deposits in the Journal. Since there is only one entry of 
 Deposits on each side of the Journal, the special columns for deposits are not required. 
 
 " As dejiositors are credited in the Balance Ledger with the proceeds of paper discounted for them, 
 and Deposits account is credited in the Journal for the amount with the deposits, the necessity of carry- 
 ing the other results of the Discount Register to the Journal as well, instead of posting them direct to the 
 Ledger, will be apparent. " Bills Discounted should therefore be debited and Collection and Exchange 
 and Discount credited in the Journal each day for the footings of those columns in the Discount Regis- 
 ter, in order that the Journal shall show the correct balance of cash. 
 
600 
 
 THEOKETICAL AND PRACTICAL BOOK-KEEPING. 
 
 BALANCE LEDGER. 
 
 NAME. 
 
 
 
 MONDAY, JUNE 24, 18- 
 
 TUESDAY, JUNE 25, 18—. 
 
 WEDNESDAY, JUNE 28, 18-. 
 
 Balance. 
 
 Checks 
 in Detail 
 
 Total 
 Checks. 
 
 Deposits 
 
 Balance. 
 
 Checks 
 in Detail 
 
 Total 
 Checks. 
 
 Deposits 
 
 Balance. 
 
 Checks 
 in Detail 
 
 Total 
 Checks. 
 
 Deposits 
 
 Balance. 
 
 An^lo, James, 
 
 10301 
 
 K) 
 
 673 
 500 
 397 
 
 00 
 84 
 
 37 
 
 1571 
 
 44 
 37 
 
 
 75 
 
 8730 
 
 41 
 
 1400 
 
 71 
 
 82 
 
 1400 
 
 6305 
 
 53 
 
 68 
 27 
 
 
 76 
 
 92 
 12 
 
 7330 
 
 41 
 
 1000 
 2500 
 
 6o;t 
 
 3000 
 
 1741 
 622 
 
 42 
 
 96 
 12 
 
 4103 
 
 42 
 08 
 
 83 
 
 1171 
 
 55 
 
 850196 
 
 Burke, Clias. J. 
 
 33465 
 
 36 
 
 6000 
 
 
 3500 
 
 35965 
 
 36 
 
 900 
 3463 
 1941 
 
 dl616 
 1500 
 
 5162 
 
 c856 
 
 29659 
 
 83 
 .50 
 82 
 
 25556 
 
 41 
 
 Bingham, Field & W. 
 
 9231 
 
 6000 
 
 
 3221 
 
 50 
 
 
 3231 
 
 3000 
 2364 
 
 221 
 
 50 
 
 Day, Maxwell, 
 
 fi619 
 
 99 
 57 
 82 
 
 
 1846 
 
 8466 
 
 74 
 
 93 
 112 
 
 835 
 
 18 
 50 
 
 1030 
 5403 
 
 10552 
 
 
 63 
 
 8188 
 5467 
 
 74 
 
 Farnsworth, L. J. 
 
 9106 
 
 1214 
 
 
 10320 
 
 57 
 82 
 75 
 
 1153 
 
 42.50 
 
 27 
 
 35 
 30 
 
 4917 
 
 30 
 
 
 550 
 
 30 
 
 Jameson, W. F. 
 
 13660 
 
 12000 
 
 13000 
 
 dl994 
 
 dl743 
 3118 
 910 
 
 02 
 36 
 63 
 
 57 
 
 3654 
 
 9673 
 
 86 
 
 75 
 
 300 
 1074 
 1500 
 
 83 
 
 2874 
 
 d36e4 
 4325 
 
 12338 
 
 49 
 
 Johnson Mfg. Co. 
 
 16044 
 
 ,54 
 
 4500 
 
 4500 
 
 17316 
 
 
 
 2380 
 
 
 19576 
 
 21036 
 
 92 
 
 * 
 Certificates of Deposit, 
 
 3000 
 
 
 
 
 3000 
 
 3000 
 
 3000 
 
 35 
 
 30 
 09 
 
 1500 
 
 35 
 
 25 
 09 
 
 
 
 1500 
 
 
 1600 
 
 
 Certified Checks, 
 
 
 37 
 30 
 
 364 
 
 
 
 
 - 
 
 
 
 1.500 
 
 1.500 
 
 80 
 
 1500 
 
 CO 
 
 1000 
 
 60 
 
 1000 
 
 
 Cashier Account, 
 
 
 
 
 
 448 
 
 448 
 
 d448 
 
 
 1794 
 
 1794 
 
 dl794 
 
 
 Tkansiknt Accounts. 
 Perry & Co., L. W. 
 
 364 
 
 364 
 
 
 
 
 
 - 
 
 
 
 
 a 
 
 
 Dunn & Cole, 
 
 863 
 918 
 
 863 
 
 863 
 
 
 
 30 
 
 918 
 
 
 
 
 
 
 Lowe, S. H. 
 
 
 
 
 918 
 
 918 
 
 94 
 20&53 
 
 
 25 
 
 
 - 
 
 
 
 
 
 Gray, David, 
 
 
 37 
 
 
 30483 
 
 
 
 
 94 
 
 ^177 
 
 
 99 
 
 94 
 
 25 
 
 
 233306 
 
 
 19831 
 
 221554 
 
 41 
 
 36111 
 
 205996 
 
 41 
 
 - — 
 
 25742 
 
 208362 
 
 17 
 
 
 
 
 
 
 
 
 
 
 
 "^1 
 
 
 
 
 1 
 
 
 * Several accounts are here omitted, but the footings at the bottom include the results of the accounts omitted as well as those 
 Illustrated. 
 
 JOURNAL. 
 MONDAY, 
 
 
 
 Wayne County National, Lyons, 211^ 
 
 Norwich National, 865™ 
 
 George K. Warren & Co., Bath, 942" 
 
 Bills Discounted, 2500, 12000, 254018 
 
 Discount, 83c 979 
 
 Chemical National, 
 
 Deposits, 
 
 Collection and Exchange, 
 
 COLL. & KXCH. 
 
 GKNEUAL. 
 
 
 1 
 
 . 7 
 3 
 9 
 
 50 
 
 35 
 92 
 19 
 69 
 
 211 
 
 865 
 
 942 
 
 17040 
 
 10 
 
 9962 
 
 19831 
 
 22 
 
 92 
 
 70 
 17 
 18 
 62 
 95 
 57 
 
 
 22 
 
 65 
 
 05 
 
 
 
 
 48887 
 
 76 
 
 
 
 
THEORETICAL ANB tHACTIOATj BOOK-KEEPING. 
 
 BALANCE LEDGER. 
 
 501 
 
 THURSDAY, JUNE 2T, 18-. 
 
 FRIDAY, JUNE 28, 18—. 
 
 SATURDAY, JUNE 29, 18—. 
 
 NAME. 
 
 Cheeks 
 liilk-tai 
 
 Total 
 . Cheeks. 
 
 Deposit* 
 
 I, Balance. 
 
 Checks 
 In Detail 
 
 Total 
 . Chocks 
 
 Deposits. 
 
 Balance 
 
 Checks 
 In Dotal 
 
 Total 
 . Checks 
 
 Deposits. 
 
 Balance 
 
 2116 
 
 (KiH 
 1850 
 
 1 
 4 
 
 1525 4. 
 
 5 
 
 6976 
 
 51 
 
 
 
 
 
 6978 5 
 
 1 
 
 1500 
 
 
 
 6976 5 
 
 1 Angle, James. 
 
 675 
 
 675 
 
 2250 
 
 27131 
 
 41 
 
 365 
 2000 
 183 7 
 675 
 
 1 
 
 32237 
 
 1 2187 
 
 55 
 
 26095 2. 
 
 i 1500 
 
 d3243 
 651 
 
 50 
 71 
 
 28490 4( 
 
 3 Burke, Chas. J. 
 
 3750 
 
 3750 
 
 4831 1 
 
 i 1302 
 
 65 
 86 
 
 
 
 1640 
 
 72 
 
 2943 3' 
 
 ■ 1000 
 
 1000 
 
 4000 
 
 
 59433 
 
 r Bingham, Field & W. 
 
 1358 81 
 5000 
 
 i 
 
 6256 81 
 
 i 575 
 
 2506 
 
 
 
 4000 
 
 
 6506 8( 
 
 89 3f 
 > 476 8, 
 
 ! 5459" 
 
 r dl841 
 
 38 
 
 7802 2' 
 
 Day, Maxwell. 
 
 
 
 5487 
 
 30 
 
 74 
 52 
 
 562 85 
 
 ! 562» 
 
 ■ 174 
 
 80 
 
 6079 2* 
 
 327 91 
 84 If 
 
 i 412 0! 
 
 dl277 
 
 55 
 
 84 
 11 
 
 5944 7J 
 
 Famsworth, L. J. 
 
 
 
 d4981& 
 710 
 
 18029 
 
 63 41 
 500 
 
 563 44 
 
 d3734 
 
 81 
 72 
 
 2120111 
 
 
 
 660 
 
 21861 11 
 
 Jameson, W. F. 
 
 175 
 86« 
 1000 
 
 ) 
 
 128141 
 
 1900 
 
 21665 
 
 1500 
 794 If 
 162 3J 
 
 2456 K 
 
 d2452 
 
 3500 
 
 2.5161 71 
 
 118 5( 
 
 500 
 1896 n 
 
 2514 67 
 
 d4790 
 4942 
 
 32379 9S 
 
 Johnson Mfg. Co. 
 
 
 
 
 1500 
 
 
 
 
 
 1500 
 
 
 
 
 - 
 
 1500 
 
 Certificates of Deposit. 
 
 
 
 
 1000 
 
 - 
 
 
 
 
 37 
 
 1000 
 
 
 
 
 1000 
 
 Certified Checks. 
 
 
 
 
 
 748 37 
 
 748 37 
 
 d748 
 
 
 
 
 Cashier Account. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Transient Accounts. 
 Perry & Co., L. W. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Dunn * Cole, 
 
 
 
 
 
 i5 
 
 
 
 
 - 
 
 
 
 
 
 
 
 liOwe, S. H. 
 
 
 
 
 94 
 
 
 
 
 94 25 
 
 94 2J 
 
 94 2c 
 
 
 97 
 
 
 Gray, David. 
 
 
 20502 87 
 
 21933 44 
 
 309792 
 
 74 
 
 
 13888 24 
 
 24365 
 
 ^ 
 
 220389 92 
 
 
 11756 51 
 
 27292 
 
 235808 41 
 
 
 
 
 
 
 
 
 
 
 
 
 
 20S 
 
 Overdrafts in red ink. 
 
 
 
 1 
 
 
 
 
 
 
 
 
 
 
 
 JOURNAL 
 
 JUNE 24, 18—. 
 
 
 
 Wayne County National, Lyons, 423 3* 
 
 genera li. 
 
 
 423 
 
 34 
 
 
 
 Farmers' National, Canton, 193*2 i;>i5 
 
 1408 
 
 42 
 
 
 
 Traders' National, Kingston. 345^ 
 
 345 
 
 23 
 
 
 
 Third National Newport, 583 ''^ 
 
 583 
 
 75 
 
 
 
 Norwich National, 91113 
 
 911 
 
 13 
 
 
 
 Chemical National, 
 
 4129 
 
 68 
 
 
 
 Deposits, 
 
 30483 
 
 53 
 
 
 
 Bills Discounted, 
 
 3750 
 
 
 
 42035 
 
 08 
 
 
 
 
CORPORATIONS. 
 
 The following description of Corporations and explanation of the books of record and of account 
 ordinarily required in a business conducted by a Corporation, are regarded sufficient to enable the 
 learner to comprehend the requirements of such a concern. It is not deemed necessary for the pupil 
 to work through a series of transactions, as has been the practice throughout this work, but the 
 explanations should be carefully studied, to enable him to pass an examination upon the subject. 
 
 DESCRIPTION OF CORPORATIONS. 
 
 A Corporation is an artificial person, created either by statutory enactment or by conforming with 
 existing statutes. 
 
 It is composed of individuals, competent to contract, united under a corporate name. The 
 members of such bodies succeed each other, so that notwithstanding the change of the individuals who 
 compose it, the body or Corporation remains the same; and for certain purposes within the limit of its 
 charter, is considered as a natural person. A Corporation is like a partnership both in the association 
 for the aggregation of capital, and in division of gains and losses; but differs from a partnership in that 
 while a partnershij) is purely individual, not requiring charter authority, a Corporation cannot exist 
 without the special sanction, nor carry its purposes into effect without the special authority of the laws 
 of the land. As the laws governing Corporations differ in different States, prior to the formation of a 
 Cor])oration the statutes of the State in which such Corjioration seeks to do business should be 
 consulted. 
 
 The principal classes of Corporations to be treated commercially are aggregate, and either public, 
 as counties, cities, towns and villages, or private, as bank, railroad and manufacturing corj)orations. 
 
 A Corporation is formed by the agreement of three or more persons, who file and have recorded 
 with the Secretary of State and with the County Clerk, a certificate setting forth the names of the 
 incorporators, the name of the incorporation, amount of capital stock which must be paid in money, 
 the character of the enterprise, time of continuance, and business location; this done, the body is 
 incorporated. Or a charter may, on application, be granted by the Legislature, which when filed with 
 the Secretary of State constitutes incorporation. 
 
 While the laws of different States and countries widely differ, in nearly all cases the rights that 
 inhere in Corporations are to elect offcers; to fill vacancies, thereby ensuring perpetuity within the limit 
 of their appointed existence; to make by-laws; to remove officers and members; to receive and convey 
 real property; to sue and be sued, and to hold property as trustees. 
 
 On all matters of contract for the acts of agents and for taxes,_ the liabilities of Corporations and 
 of individuals are essentially alike. The tendency of later statutes is to increase the individual 
 responsibility of members of Corporations, although for the exact measure of such individual responsi- 
 bility in any instance, the local statutes should be consulted. 
 
 Books of account and of stock must be kept open for inspection, and reports made according to 
 law; and in case of increase or decrease of capital stock, or change of location, a certificate setting forth 
 the change must bo filed, accompanied by a statement of the resources and liabilities of the Corporation. 
 
 The law making power in creating a corporation, usually reserves the right of modifying its 
 charter, or of terminating its existence. If a charter be repealed, is surrendered, or by loss of integral 
 parts is forfeited, the Corporation becomes extinct, and its capital and debts constitute a trust fund and 
 pledge for the payment of creditors, and a court of equity will enforce such jiayment. The obligations 
 of corporate contracts are no more impaired by the extinguishment of the Corporation, than are those 
 of an individual by the death of that individual. 
 
TttEORETJCAL AND PRACTICAL BOOK-KEEPING. 
 
 203 
 
 RECORDS OF A CORPORATION. 
 
 The books of account of a Corporation do not differ materially from those which would be kept by 
 an individual or partnership, conducting the same kind of business as that carried on Ijy the Corpora- 
 tion, except that, generally, four additional auxiliary books are required. These are called the Sub- 
 scription Book, the Minute Book, the Stock Ledger and the Stock Transfer Book. 
 
 The following brief explanations and illustrations of these books will, it is thought, be found 
 sufficient: 
 
 THE SUBSCRIPTION BOOK. 
 
 This is simply a blank book, ruled with special reference to receiving the subscriptions of those 
 parties desiring to become share holders in the Corporation. It contains generally the signature 
 of the subscriber, his address, and the number of shares he agrees to take. The form given below 
 will illustrate its priiici])al features. 
 
 SUBSCRIPTION BOOK OF THE HOPKINS MANUFACTURING CO., OF CEDARVILLE, N. Y. 
 Cajiital Stock, 200,000.00. In 2000 Shares of 100.00 each. 
 
 We, the undersigned, by affixing our signatures hereto, subscribe for and agree to take the number 
 of shares of the Capital Stock of the Hopkins Manufacturing Co. placed opposite our respective 
 names, at their par value, and to pay for the same in such installments as may be called for by the 
 Board of Directors, and uj)on such conditions as are defined in the By-Laws of said Corporation: 
 
 
 
 
 No. of 
 
 Par- 
 
 
 DATE. 
 
 SIGNATURE OP SUBSCKIBER. 
 
 ADDKESS. 
 
 Shares. 
 
 Value. 
 
 TOTAL. 
 
 188- 
 
 
 
 
 
 
 
 Jau. 
 
 
 
 Wm. F. Hopkins. 
 
 Cedarville. 
 
 300 
 
 100 
 
 30000 
 
 
 C 
 
 Orrin F. Hart. 
 
 a 
 
 350 
 
 
 35000 
 
 
 8 
 
 Chas. Gorres. 
 
 a 
 
 150 
 
 
 15000 
 
 
 8 
 
 Alfred Wriglit. 
 
 C( 
 
 200 
 
 
 20000 
 
 
 8 
 
 Samuel B. Stephens. 
 
 it 
 
 200 
 
 
 20000 
 
 
 8 
 
 Geo. Ilartwell. 
 
 a 
 
 175 
 
 
 17500 
 
 
 8 
 
 Frank C. Hopkins. 
 
 Oak hind. 
 
 175 
 
 
 17500 
 
 
 11 
 
 Jas. W. Laphani. 
 
 Cedarville. 
 
 150 
 
 
 15000 
 
 
 12 
 
 Wm. T. Graves. 
 
 it 
 
 150 
 
 
 15000 
 
 
 12 
 
 Harley B. Eaton. 
 
 a 
 
 150 
 
 
 15000 
 
 THE MINUTE BOOK. 
 
 This is simply a record book in which is entered a complete history of the proceedings of the 
 Stockholders and of the Board of Directors at all of their official meetings. 
 
 It should contain the date of the meeting, the names of the members present, and an explicit and 
 accurate report of all business transacted. The record should be signed by the Secretary and attested 
 by the President. 
 
 THE STOCK LEDGER. 
 
 This book exhibits the shares of Capital Stock held Ijy each stockholder, showing the install- 
 ments paid u])on them, and any transfers of stock which may have taken ])lace. The payments 
 of installments upon subscrij>tions are posted from the Cash Book and the transfers from the 
 Transfer Book to the Stock Ledger. The following will indicate the usual form for the entries in the 
 Stock Ledger: 
 
 WILLIAM F. HOPKINS. 
 
 188- 
 
 
 Mar. 
 
 10 
 
 June 
 
 30 
 
 
 
 II. B. Eaton, 50 Sh, 
 Balance, 250 Sh. 
 
 1 
 
 5000 
 25000 
 
 
 188- 
 Jan. 
 Feb. 
 
 13 
 
 1 
 
 30000 
 
 
 
 July 
 
 1 
 
 1st In., 50^. .300 Sh. 
 2d In., 50^. 300 Sh, 
 
 250 Shares. 
 
 1 
 20 
 
204 
 
 THKORETICAL AND PRACTICAL BOOK-KEKPING. 
 HARLEY B. EATON. 
 
 
 
 
 188- 
 
 
 
 
 
 Jan. 
 
 12 
 
 
 
 
 Feb. 
 
 4 
 
 
 
 
 Mar. 
 
 10 
 
 Jnly 
 
 1 
 
 1st In., 50^ 150 Sh. 
 2iidIu.,50^150Sh. 
 W.F.Hop'ns, 50Sh. 
 
 200 Shares. 
 
 30000 
 
 In some instances the payment of subscriptions is made in numerous installments and not 
 infrequently a considerable length of time elapses before the entire subscription is paid. Transfers 
 of stock may in the meantime take place, of which a record sliould lie made ujion tlie l)ooks of the 
 company. 
 
 The following form of Stock Ledger lias been found under sucli circumstances to be both concise 
 and convenient. 
 
 JOHN M. SMITH. 
 
 188- 
 Jan. 
 
 Feb. 
 
 March 
 
 12 
 
 19 
 10 
 25 
 1 
 15 
 
 Cash, 15 ^ on 300 Sh., 1st Call, 
 
 Transferred to Wm. 11. Brown 50 Sh., less 15 ^ paid on 1st Call, 
 
 Cash, 20^ on 250 Sh., 2nd Call, 
 
 Cash, 25^ on 250 Sh., 3rd Call, 
 
 Transferred to \V. II. Brown 50 Sh., less CO ^ pd. on 1st, 2d, & 3d Calls, 
 
 Cash, 40 ^ on 200 Sh., 4th Call, 
 
 200 Shares, 
 
 1 
 
 4500 
 4250 
 5000 
 6250 
 2000 
 8000 
 
 
 
 30000 
 
 
 July 
 
 1 
 
 20000 
 
 
 WILLIAM H. BROWN. 
 
 188- 
 
 
 
 
 
 
 
 Jan. 
 
 12 
 
 Cash, 15 ^ on 150 Sh., 1st Call, 
 
 
 
 2250 
 
 
 
 19 
 
 From Jno. M. Smith, 50 Shares with 
 
 15 fo of 1st Call ])aid. 
 
 
 750 
 
 
 Feb. 
 
 11 
 25 
 
 Cash, 20^ on 200 Sh., 2nd Call, 
 Cash, 25 ^ on 200 Sh., 3d Call, 
 
 
 
 4000 
 5000 
 
 
 March 
 
 2 
 15 
 
 1 
 
 From Jno. M. Smith, 50 Shares with 
 Cash, 40^ on 250 Sh., 4th Call, 
 
 250 Shares, 
 
 C0<^ of 1st, 2nd & 3d (Jails ])d., 
 
 
 3000 
 10000 
 
 
 
 25000 
 
 
 July 
 
 25000 
 
 
 Where the payment of subscriptions is made in several installments, the custom is generally to 
 issue what is called " Installment Scrip," to be exchanged eventually for Certificates of Stock. 
 The following will illustrate the forms of Installment Scrip and Certificate of Stock. 
 
 INSTALLMENT SCRIP. 
 
 . /. 
 
 
 pSaOC. Shate^ iOO, 
 
 Of $ioo Each. 
 
 Hopkins Manufacturing Company, 
 
 OF CEDBRVIUE, N. Y. 
 
 SO ^^ ««*»/ 
 
 *«* ^^««Jci'y*.« ^«»J 
 
 oi tf«*^*z-*. 
 
 '^^^. .^. ^^.i^.-*. 
 
 \apitai ^^iwk o/ ihe 'Safikmi "^manufmlutin^ Wo. 
 
 i^^^a 
 
 (i^tt-tr^^ ^'fi'^-ieii^ ■eti't' ■I'e4^if9\ 
 
 ?<»*K^-i?Jff** -i^et^ 'H-» o* -fA'e^ 
 
 €^ i;t.-yv€t d e^i ■€^/ir€i^'l ^v-i. -/t-P-y^i- -at -/itti- ft,iJ-t-a,^ 
 
 't'H-e- ■t€i^'yi4 -o- 
 
 rf**^rf( 
 
 <i-e4^/i'Ji^*t. 
 
 •■ *<** ■#***»*•»*. 
 
 '^AoA. Y. -^^-fffi-. Secretary. &ltt'>t ^^f J^at/, Preaidtnt. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 
 
 205 
 
 SBUkRES, 3va. 
 01OO K£tob. 
 
 Hopkins Manufacturing Company, 
 
 
 
 ■'ffrn. .^. .jf//„AAtnA. \ '^/tai. .^aiiei, Secretary. 
 
 Diltn c::^: .:3^t^; PresldOBt. 
 
 THE TRANSFER BOOK. 
 
 This book is used in transferring Stock Ccrtiflciites from one sliareholder to another. 
 
 It generally consists of printed forms which are filled out in accordance with the conditions of the 
 transaction. It is customary to have these certificates so worded as to be transferable only on the 
 books of the Compfiny, the object being to know at all times who the shareholders are. The following 
 will serve to illustrate the form of the Transfer Book. 
 
 LF, 
 
 
 SO WihateL 
 
 
 
 &^ii<Ut^ 
 
 ^at^anj tt^C litiA i.t-a./i^f' itC'lc- ^t'^vt^ i^nt&te4l t^^l^ V^tJ.ft^ 
 
 Ba^itul Stntk of the Mopkini J(taniif<iduiin§ iBomfianij, 
 
 WITNESS, 
 
 
 In opening the books of a Stock Company, each stockholder should be credited in the Stock 
 Ledger for the amount of stock ho has actually jiaid for, and Capital Stock account should be credited 
 in the main books for the aggregate of such payments. Cash account, of course, being debited for the 
 same amount. The only record of stock subscriptions is contained in the Subscription Book. 
 
 When stock is transferred, the party making the transfer is debited in the Stock Ledger for the 
 par value of the stock transferred, and the party to whom it has been transferred is credited for the 
 same amount, no entry being required in the main books. 
 
 The jirofits of the business are divided among the stockholders in the form of a dividend. All 
 accounts showing profits and losses are closed into Loss and Gain account, and that account closed 
 into Dividend account and Undivided Profits account. 
 
 The Board of Directors determine the amount of the profit to be divided among the stockholders, 
 usually such an amount as will make an even per cent, upon the Capital Stock. Such amount is 
 charged to Loss and Gain account, and credited to Dividend account. The balance of the profit is 
 charged to Loss and Gain account and credited to Undivided Profits account. When the dividend is 
 paid to the shareholders. Dividend account is charged and Cash account credited. 
 
 In all other particulars the books of a Stock Company need not difEer from those of au individual 
 or a partnership. 
 
OOn THEORKTIGAL AND PRACTICAL BOOK KKEPING. 
 
 BUSINESS FORMS. 
 
 LETTER INCLOSING REMITTANCE. 
 
 FULLER & HENDERSON, 
 
 ■WI3:01_.ES-A.XiE 
 
 GROCERS SUNDRIES. 
 
 les UAIH STBSZT. 
 
 aoeaisTiB, 6U.j//>^- 
 
 
 
 ^^-u^ 
 
 LETTER OF RECOMMENDATION. 
 
 Cakbondale, Aug. 31, 188-. 
 To whom it may Concern: 
 
 We take pleasure in stating that the bearer, Mr. Ralph E. Rogers, who has been employed by 
 US during the past year, is in all respects a competent and faithful book-keeper, and a young man 
 of the highest qualities of head and heart. 
 
 Mr. Rogers severs his connection with our house to seek a more congenial climate, and leaves 
 
 bearing with him the highest regard of all with whom he has been associated. 
 
 Respectfully, 
 
 BEDELL & LU8K. 
 
 4 
 
 LETTER ORDERING GOODS. 
 
 ROCHESTEK, Oct. 4, 188-. 
 
 Mk. Geo. P. Osgood, 
 
 Chicago. 
 
 Dear Sir: Please ship us as soon as possible, per L. S. & M. S. R. R. and 
 
 N. Y. C. & II. R. R. R., the following: 
 
 20 doz. 2-hoop Pails; 15 doz. C. Pounders; 35 doz. R. Pins; 10 doz. N. D. Z. Wash Boards; 15 
 
 doz. 13-in. B. Bowls; 5 doz. No. 3 Wood Scoops; 25 Nests P. Pails; 5 doz. W. Shovels. 
 
 Resi)ectfully, 
 
 FULLER & STUDENT. 
 
THEORETICAL AND PRACTICAL BOOK-KEEPING. 9,07 
 
 BUSINESS FORMS. 
 
 INVOICE OF SHIPMENT. 
 Invoice of Merchandise shipped to A. G. Niles, Evansville, to be sold on our account and ri'sk. 
 
 200 bu. Potatoes, 
 Paid Cartage, 
 
 Galesburg, Sept. 15, 188-. 
 
 @ 65c. 
 
 charges: 
 
 ACCOUNT OF SALES. 
 Sales of 600 bu. Ked Wheat, on «/<; of Foster Bros. 
 
 188- 
 Sopt. 
 
 
 12 
 
 6 
 12 
 
 Sold for cash, 
 
 200 bu. Ked Wheat, 
 Sold for cash, 
 
 300 bu. Red Wheat, 
 
 Paid Freight, 
 Storage, 2|c. per bu., 
 Commission, 2 ^ of Sales, 
 
 Foster Bro's Net Proceeds, 
 E. E. 
 
 GrALESBURG, Sept. 12, 188-. 
 
 charges: 
 
 HERBERT G. 
 
 @ 1.37i 
 @ 1.37i 
 
 50. 
 
 12.50 
 
 13.73 
 
 274 
 411 
 
 50 
 
 75 
 
 
 G86 
 76 
 
 25 
 23 
 
 b- 
 
 WILLIAMS. 
 
 
 610 
 
 02 
 
 g".|^ g No. 1867. 
 
 ft) O C i' . ^^ 
 
 ^ a a> 5(J ^ r' 
 
 xdj^i 'B '^ I'o Hkoadway Bank, \ 
 
 l-S-g « New York, f 
 
 BANK DRAFT. 
 MANUFACTURERS AND TRADERS BANK, 
 
 or MINNEAPOLIS. 
 
 $96.38. Minneapolis, April 12, 188--. 
 
 Pay to the order of Erastus W. Cleveland, Ninety-six and ^y^ Dollars. 
 
 J. K. COMPTON, 
 
 Casiiii ; 
 
 
 
 
 FORMS OF 
 
 INDORSEMENT. 
 
 
 
 
 -■4-. 
 
 
 <M 
 
 in 
 
 ^ ts 1 
 
 
 
 .43 
 
 
 
 o 
 
 m 
 
 <i> rij 
 
 1 « 
 
 
 
 ?1 
 
 %l 
 
 
 it 
 
 o !? 
 
 H 
 ^ 
 
 1 
 
 o 
 
 
 
 
 
 oj 1-5 do* 
 
 
 i 
 
 i 
 
 OS 
 
 C 
 
 ^ 
 
 ^ 
 
 Q 
 
 < 
 
 P. 
 O 
 
 «ement in Full acres 
 k Dratt sent to S.H. 
 Oct. 24, pag-r 140.] 
 
 order of Scovel 
 FULLER & ST 
 
 lent Indorsed across 
 note of Oct. 28, page 
 
 ived on the wi 
 188-, Two Hun 
 
 
 1 
 
 o 
 
 'o 
 
 
 "^ 
 
 
 1 
 
 -fJ o 
 
 
 
 
 a 
 
 
 
 M 01 
 
 o ^ 
 
 ^" 15 S 
 
 
 1 
 
 
 ^ 
 
 ^ =« 
 
 i o O ^ 
 
 
 ^ 
 
 2^ 
 
 
 
 ^ 
 
 o o 
 
 
 ?;> 
 
 
 
 ^ 
 
 ^ 
 
 i g 
 
 
 
 tS 
 
 
208 
 
 THEORETICAL AND PRAOl'ICAL BOOKKEEPING. 
 
 BUSINESS FORMS. 
 
 BILL. 
 
 FULLER & HENDERS9X, 
 
 A-ISTD 
 
 GROCERS' SUNDRIES, 
 
 165 UAIH STREET. 
 
 SQCHiSTEB," 
 
 ://v^ 
 
 ^OUI 
 
 FOLIO 
 
 SALESMAN 
 
 (^{■■7'7'if^i^-c-e'^ 
 
 FULLER & HENDERSON. 
 
 
 / ^ 
 
 /7^ 
 
 ^/.Z 
 
 6 
 
 
 ^Jy^cf ^/^ ^ 
 
 ^^^ 
 ^'^''- 
 
 
 c? ^ 
 
 / 
 
 
 / ^ 
 
 Tfc4 ■?< 
 
 W - 
 
 ^ $1475.54. 
 
 O 
 
 CERTIFIED CHECK. 
 
 Syracuse, July 10, 188-. 
 
 CENTRAL CITY BANK, 
 
 Pay to Bliss, Goodrich & Co., or order, Fourteen Hundred Seventy-five and ^ 
 
 Dollars. 
 
 No. 602. EVANS & KINGSBURY. 
 
 CERTIFICATE OF DEPOSIT. 
 1500.00. Detroit, May 9, 188-. 
 
 SECOND NATIONAL BANK. • 
 Samuel Roberts, Jr., has deposited in this Bank Five Hundred Dollars, payable 
 
 to himself, or order, on return of this Certificate. „,„»,» xt 
 
 GEO. HINMAN, 
 
 Cashier- 
 
THEORETICAL AND PKACTICAL BOOKKEEPING. 
 
 309 
 
 BUSINESS FORMS. 
 
 JOINT NOTE. 
 1275. Cedar Falls, Iowa, Oct. 1, 188-. 
 
 Sixty days after date, we promise to pay Orlando 
 Stevens, or order. Two Hundred and Seventy-five 
 Dollars, for value received, ct Farmers' Bank. 
 
 E. F. HAYDEN. 
 GEO. N. BROWN. 
 
 JOINT AND SEVERAL NOTE. 
 $1500. Beightojt, III., June 4, 188-. 
 
 One year from date, for value received, we, or 
 either of us, promise to pay to the order of Henry 
 H. MofEatt, Fifteen Hundred Dollars. 
 
 FRANK S. nORTON. 
 M. BORTELLE. 
 
 NON-NEGOTIABLE NOTE. 
 $100. Trentok, K J., May 15, 188-. 
 
 On demand, I promise to pay Lyman S. Barber, 
 One Hundred Dollars, for value received, with 
 interest. 
 
 C. C. BARNARD. 
 
 DRAFT (Time from Sight). 
 * (See enerraved form on page 41.) 
 
 ^2000. Baltimore, Oct. 28, 188-. 
 
 At ten days' sight, pay to Eric Hunter, or order, 
 Two Thousand Dollars, value received, and charge 
 the same to my account. 
 
 To J. y. rrKSTWORT!!, SIMON DUNCAN. 
 
 Albany, N. Y. 
 
 DRAFT (Time from Date). 
 $300. Hamilton, Sept. 5, 188-. 
 
 Thirty days after date, pay to J. C. Goodrich, 
 or order. Three Hundred Dollars, value received, 
 and charge the same to my account. 
 To Crowley & Leayitt, ALFRED W. HOLLEY. 
 Evaasville, Pa. 
 
 DRAFT (At Sight). 
 $100. Oleax, Feb. 17, 188-. 
 
 At sight, pay to the order of Orrin Greenleaf, 
 One Hundred Dollars, value received, and charge 
 the same to our account. 
 
 To Park Bank, 
 
 New York. 
 
 WELLSLEY, HOYT & CO. 
 
 BUSINESS 
 
 RECEIPT (To Apply on Account). 
 $175.25. Philadelphia, Jan. 6, 188-. 
 
 Received of Wm. De Long, One Hundred and 
 Seventy-five -fj^ Dollars, to apply on account. 
 
 CHAS. G. APGAR 
 
 RECEIPT (In Full of Account). 
 $200. CoBURG, 0., Mar. IG, 188-. 
 
 Received of Walter Williams, Two Hundred 
 Dollars, in full of account to date. 
 
 SMITH & WEIGHTMAN. 
 
 RECEIPT (Payment on Note). 
 $160. Richfield, Pa., Sept. 27, 188-. 
 
 Received of Elihu Biddlecom, One Hnndrcd 
 and Fifty Dollars, to apply on his note, in our 
 favor, dated Mar. 27, 188-. 
 
 GEO. T. CREED & CO. 
 
 DUE BILL (Payable in Goods). 
 $25. Sardinia, N. Y., Aug. 1, 188-. 
 
 Due R. F. Bainbridge, Twenty-five Dollars, pay- 
 able in goods from our store. 
 
 EATON. CROSS & CO. 
 
 FORMS. 
 
 DUE BILL (Payable in Money). 
 $47.64. Smith's Hollow, Dec. 9, 188-. 
 
 Due Cha's Parker, or order, on demand, Forty-' 
 seven and ^„V Dollars. W. II. GORDON. 
 
 ORDER (To Apply on Account). 
 $50. Chelsea, Mich, Apr. 10, 188-. 
 
 French & Hagerman, 149 Lagrange Street, will 
 jjlease pay the bearer Fifty Dollars, and charge 
 the same to my account. D. W. EVEREST. 
 
 ORDER (Payable in Goods). 
 
 Burlington, Kas., Dec. 6, 188-. 
 E. & S. Campbell will please deliver to bearer 
 groceries, not exceeding in amount Twenty-five 
 Dollars, and charge the same to me. 
 
 RALPH BARTON. 
 
 INDIVIDUAL NOTE. 
 
 (See engraved form, on page 21.) 
 
 $350. Rochester, X. Y., Feb. 2, 188-. 
 
 Six days after date I promise to pay W. C. 
 Cooper, or order. Three Hundred and Fifty Dol- 
 lars, value received. 
 
 Due Feb. 11. 188-. STUDENT. 
 
210 
 
 THJEOitETICAL AND PRACTICAL BOOK-KEEPlNO. 
 
 BUSINESS FORMS. 
 
 BILL 
 
 ^ 
 
 J^-^M^^^j^jZ^ 
 
 ^^^y^^ 
 
 -^^^^^r^:^..^^ y^yS. 
 
 
 =2^^ 
 
 
 
 C,i*i?-^<?-Z-2t<S^ 
 
 -i^-Z^ 
 
 )^J& 
 
 VUk, 
 
 1 
 
 J^' 
 
 Af 
 
 
 ACCOUNT SALES 
 
 /J"^ 
 
 J^ 
 
 ^ a ^ C> -^^i^C^ 
 
 A/ 
 
 J2-4^ 
 
 ^^^Z 
 
 f/- 
 
 
 S' % .^Z^T-^ 
 
 ^^2^^!Z-1^^.^ 
 
 '/ ..''T^'Z^e^ '^^i'^'^'tl.'d.^t:^' 
 
 =^-^v<^^- 
 
INDEX. 
 
 Account Sales, explanation of 55, 56, 57 
 
 forms of --- 207 
 
 Bonk, rule for journalizing 27 
 
 examples in 28 
 
 checks, form of- 28, 208 
 
 draft, form of 207 
 
 Balance Sheet, guide for 32 
 
 form of 34 
 
 Bill Book, explanation of. . - 67 
 
 form of 66 
 
 Bill, forms of _ 208, 210 
 
 Commission, explanations and examples 55-57 
 
 Sales Book, Cash Book and Journal as principal 
 
 books _. 117-125 
 
 Consignments, rules for journalizing 55 
 
 examples in journalizing _ 56-57 
 
 Cash Book, explanation of 67 
 
 form of 64-65 
 
 posting from — 69 
 
 Cash Method, explanation of 109-112 
 
 form of Cash Book.. 110-111 
 
 Check Sheets, explanation of and form for 134 
 
 Certificate of Deposit, form of 208 
 
 Draft, explanation of 41 
 
 forms of 41, 79 
 
 rules for journalizing 41-42 
 
 examples in journalizing .42-44 
 
 Due Bill, payable in goods... 161 
 
 payable in money 161 
 
 Errors in Trial Balance, how found 21 
 
 Envelope, form of 80 
 
 Executor of a Will, books of 99 
 
 Inventory, explanation of ^ 31 
 
 liability 67 
 
 Interest, how computed, 365 days basis 25 
 
 how computed, 360 days basis 68 
 
 time for, how found 51 
 
 on partners' accounts 141 
 
 Indorsement, forms of 207 
 
 Journalizing, general rules for 6 
 
 special rules for. 6 
 
 examples in 7-12 
 
 directions for 16 
 
 Journal, combined with Day Book, form of 45 
 
 explanation of 45 
 
 Ledger, rules for closing 35 
 
 guide for closing 36 
 
 closed form of 88 
 
 partially closed 48-49 
 
 closed directly to proprietor's account 70 
 
 Letters, forms of 80, 206 
 
 Miscellaneous Accounts, form of 108 
 
 Manufacturing, explanation of books used 151 
 
 forms of books used 152-153 
 
 Note, ordinary promissory, form of 21 
 
 joint 209 
 
 joint and several 209 
 
 non-negotiable 209 
 
 Order, payable in money. 209 
 
 payable in goods 209 
 
 Posting, explanation of 17 
 
 guide for 17-18 
 
 with Ledger explanations 64-65, 69 
 
 Partnership, explanation of 44 
 
 profits, division of 48 
 
 interest on partners' accounts 141 
 
 Protest Fees, how charged. 52 
 
 Petty Ledger, explanation of 103 
 
 form of 106 
 
 Receipt for payment on accotmt 209 
 
 for payment on note 209 
 
 Retail Business, explanation of books used 143 
 
 forms of books used 144-147 
 
 inventories, how treated 150 
 
 Shipments, rules for journalizing 55 
 
 examples in journalizing 55-56 
 
 inventory of 60 
 
 invoice of 207 . 
 
 Single Entry, explanation of 81 
 
 changing to Double Entry 85 
 
 CashBook 89 
 
 Special Column Journal, explanation of 93 
 
 form of 94-98 
 
 Trial Balance, explanation of 20 
 
 errors in 21 
 
 Ledger balances 40 
 
 continued form . 185 
 
 Wholesale Business, explanation of books used 128 
 
 forms of books used 128-132 
 
 INDEX TO BANKING AND CORPORATIONS. 
 
 Banking Books, description of 159-160 
 
 Balance Ledger, description of 199 
 
 advantages of... 199 
 
 form of 200-201 
 
 Collection Register, form of 195-196 
 
 Collection Tickler, form of 197 
 
 Corporations, description of 202 
 
 records of 203 
 
 forms of books used 203-205 
 
 Division of Profits. 182-183,205 
 
 Discount Register, form of 190-191 
 
 Deposit Ledger, balances, Jvme 15. 161 
 
 how proved. 182 
 
 forms of 198, 200, 201 
 
 Discount Tickler, form of 196 
 
 General Ledger, balances, June 15 161 
 
 how proved... 182 
 
 Journal, form of. 184-189 
 
 Memoranda of Business.. 165-183 
 
 New York Draft Register, form of 192-193 
 
 Organization of Banks 158 
 
 Statement, June 29 182 
 
APPENDIX. 
 
 SUPPLEMENTARY EXERCISES. 
 
 The following transactions are designed, primarily, to afford additional drill in determining the 
 proper debits and credits in recording business transactions, and may bo performed npon pajjcr or used 
 as exercises for class drill in the elements of bookkeeping. The latter plan will be found productive of 
 most excellent results, and is recommended by t!ie authors, as it adds the aid of tlie teacher to tlie effort 
 of the pupil, thus securing to the pupil thorough knowledge in the shortest possible time. It is 
 advised that those pupils who are engaged upon a particular part of the work in bookkeeping — initiatory, 
 intermediate or advanced — be taken in classes into a recitation room and required to give the debits and 
 credits of all parties in the transactions in this work that are of tlie same general character as those 
 upon which they are engaged at their desks. In addition to the entries of all parties, it is recom- 
 mended that the pupils be required to give the forms of all commercial paper introduced, with their 
 proper indorsements. It is believed that this class drill will rivet the principles of debit and credit, 
 and the forms and requisites of commercial paper upon the mind of tlie jjupil as no other process can 
 do, and will effect a great saving of time and labor upon the part of the teacher 
 
 Such class work should closely resemble the following: 
 
 January 8. Bought of H, C. Franklin, Chicago, on "/c, at 30 days, 200 bbls. Pork, @ 13.00, 
 2400.00. 
 
 Ques. What should be your debit and credit for this transaction, and why ? 
 
 Ans. Mdse. should Ijc debited because merchandise has been bought — comes into my possession; 
 and H. C. Franklin should be credited, because I have become indebted to him. 
 
 Ques. What debit and credit will Franklin make, and why ? 
 
 Ans. He will debit me, the purchaser, because I have become indebted to him, and will credit 
 Mdse. because he lias disposed of merchandise. 
 
 Ques. What entries will you make thirty days hence, upon payment in cash of the amount due H. 
 C. Franklin, and why ? 
 
 Ans. Debit H. C. Franklin, because I have got out of his debt, and credit Cash because I lyivc 
 paid out cash. 
 
 Ques. What entries will H. C. Franklin make upon receiving from you cash, in settlement of 
 your account, and why ? 
 
 Ans. He will debit Cash, because he has received cash, and credit me, because I have got out of 
 his debt. 
 
 Again, April 3, bought of Granger & Co., Minneapolis, 2000 bbls. Flour, @ 5.25 per bbl., 
 10500.00. Gave in payment our clieck on German-American Bank for 4000.00. J. C. Keid's note, 
 5000.00, discount to maturity allowed Granger & Co., 72.50, and cash for balance, 1572.50. 
 
 Ques. What debits and credits will you make for this transaction, and why ? 
 
 Ans. Debit Flour, because flour has been purchased; debit Discount, because discount has been 
 allowed Granger & Co.; credit Bills Eeceivable, because J. C. Reid's note has gone out of our posses- 
 sion; and credit Cash for the amount of the cash, because we have paid out cash; and credit German- 
 American Bank, because we have drawn a check on them. 
 
 Ques. What entries will Granger & Co. make, and why ? 
 
 Ans. Debit Bills Receivable, because J. C. Reid's note has been received; debit cash for the 
 amount of the check and currency, because so much cash has been received; credit Flour, because flour 
 has been sold; and credit Discount because discount has been allowed them. 
 
 Ques. What entry will the German-American Bank make when the check is paid, and why ? 
 
 Debit Preston & Co., makers of the check, because the check is drawn by them — lessening their 
 deposit that amount — and credit Cash because cash has been paid out. 
 
11 THEORETIOAL AND PRACTICAL BOOK-KEEPING. 
 
 Ques. Give the form of J. (J. Keid's note as originally received by B. F. Preston. 
 Ans. 
 
 5000.00. , Mnrch 1, 18-. 
 
 July 1, after date, I promise to pay B. F. Preston, or order. Five Thousand Dol- 
 ■ lars, at First National Bunk, value received. 
 
 J. C. REID. 
 Ques. What will be necessary for B. F. Preston to do upon investing that note in the business of 
 Preston & Co. ? 
 
 Ans. Write his name on the back of the note, or write. Pay Preston & Co., or order, and sign 
 his name. 
 
 Ques. In case the latter form is adopted how will the firm of Preston & Co. transfer it to Granger 
 S; Co. ? 
 
 Ans. They will write on the back, under the present indorsement, the firm name, or Pay Granger 
 & Co., or order, and add the firm's signature. 
 
 • Ques. Give the form of the check on German-American Bank on April 3. 
 Ans. 
 
 4000.00. ■ ., , Aprils, 18— . 
 
 German-American Bank. 
 Pay to Granger & Co., or order, Four Thousand Dollars. 
 
 No. PRESTON & CO. 
 
 JANUARY. 
 
 1. The Student commenced business this day, and invested cash, 5000.00. 
 
 2. Bought for cash of E. H. Fellows; Albany, 100 bbls. Flour, @ 8, 800.00. 
 
 3. Sold W. H. Stern, Baltimore, on afc, 25 bbls. of Flour, @ 10, 250.00. 
 
 4. Sold for cash to S. B. Alverson, New York, 50 bbls. of Flour, @ 9.50, 475.00. 
 
 7. Received cash of W. H. Stern, to apply on a/c, 100.00. 
 
 8. Bought of II. C. Franklin, Chicago, on "/c, at 30 days, 200 bbls. Pork, (^ 12, 2400.00. 
 
 9. Bought of P. Armour & Co., for cash, 100 bbls. Lard, @ 25, 2500.00. 
 12. Sold Jas. Garrison, on % 50 bbls. Pork, @ 15.00, 750.00. 
 
 17. Sold H. D. Jones, on % 50 bbls. Lard, @ 27, 1350.00. 
 
 19. Bought of A. P. Barnes, on "fe, 200 bbls. Flour, @ 7.50, 1500.00. 
 
 21. Sold for cash, 50 bbls. Lard, @ 26.75, 1337.50. 
 
 23. Sold W. H. Stern, on o/c, 100 bbls. Flour, @ 8.25, 825.00, 
 
 25. Received cash of II. D. Jones, on «/c, 1000.00. 
 
 27. Sold for cash, 75 bbls. Flour, @ 8.10, fi07.50. 
 
 29. Bought for cash, 200 bbls. Flour, @ 7.25, 1450.00. 
 
 31. Paid A. P. Barnes 1000.00, on «/c. 
 
 Inventory— 250 bbls. Flour, 7.25 - - 1812.50 
 
 150 " Pork, 12.00 - ....... 1800.00 
 
 3612.50 
 
 Cash ... - 2700.00 
 
 Net Gain 557.50 
 
 FEBRUARY. 
 
 1. Increased my capital by an additional investment of 3000.00. 
 
 2. Bought of Johnson & Co., on my note at 15 days, 100 bbls. Salt, @ 1.25, 125.00. 
 4. Sold D. B. Davis, on his note at 10 days, 50 bbls. Pork, @ 13.50, 675.00. 
 
 6. Received of W. H. Stern his note, at 10 days in full of "/c, 975.00. 
 
 7. Paid H. C. Franklin 2400.00, in full of account. 
 
THEORETICAL AND PUACTICAL BOOK-KEKPING. Ill 
 
 8. Sold for cash, 50 bbls. Suit, @ 1.60, 75.00. 
 
 10. Sold Jas. Garrison, on "jc, 50 bbls. Pork, 13.75, 687.50. 
 
 12. Bought of P. Armour & Co., for cash, 50 bbls. Lard, @ 24.00, 1200.00. 
 
 14. Eeccived cash of Jas. Garrison, 1000.00 on "/c. 
 
 17. D. B. Davis has paid his note of 4th instant in cash, 675.00. 
 
 18. Sold Jas. Garrison, on "jc, 25 bbls. Lard, @ 26.00, G50.00. 
 
 19. W. II. Stern has paid his note of 6th inst. in cash, 975.00. 
 
 20. Paid our note of 2d inst. in cash, 125.00. 
 
 22. Sold James Payne, on his note at 10 days, 50 bbls. Pork, @ 13.25, 662.50. 
 24. Bought of E. B. Ashley & Co., on my note at 30 days, with interest, 100 bbls. Pork, @ 11.50, 
 1150.00. 
 
 26. Sold for cash, 25 bbls. Lard, @ 27.00, 675.00. 
 
 28. Bought of P. Armour & Co., on my note at 30 days, 100 bbls. Lard, @ 23.50, 2350.00. 
 
 Inventory— 250 bbls. Flour, @ 7.25, 1812.50 
 
 100 " Pork, @ 11.50, 1150.00 
 
 100 " Lard, @ 23.50, 2350.00 
 
 50 " Salt, @ 1.25, 62.50 
 
 5375.00 
 
 Net Gain, 362.50 
 
 Cash, 5445.00 
 
 MARCH. 
 1. Paid two months' rent of store in cash, 200.00. 
 
 3. Sold Jas. Garrison, on his note at 10 days, with interest, 200 bbls. Flour, @ 8.00, 1600.00. 
 5. Paid clerk's salary for two months, in cash, 100.00. 
 7. James Payne has paid his note in cash, 662.50. 
 
 9. Bought of James Willis ou our acceptance at 30 days, payable at German-American Bank, 500 
 bbls. Flour, @ 7.00, 3500.00. 
 
 11. Sold C. JI. Benton, on his acceptance at 10 days, payable at Third National Bank, 200 bbls. 
 Flour, @ 7.75, 1550.00. 
 
 13. Bought of J. "W. Whitney, on our note at 30 days, payable at German -American Bank, with 
 interest, ^00 bbls. Salt, @ 1.25, 250.00. 
 
 15. Sold H. L. Haskins, on his check on First National Bank, 200 bbls Flour, @ 7.80, 1560.00. 
 
 16. James Garrison has paid his note of 1600.00, due to-day, with interest, 3.47. 
 
 18. Paid our acceptance due April 11th, 3500.00, in cash, less discount for time it has yet to run. 
 Discount, 24 days, 14.00. 
 
 20. Sold S. G. Davis, on his note at 30 days, payable at Merchants' Bank, 75 bbls. Lard, (S 24.50, 
 1837.50. 
 
 22. Sold M. J. Iliggs, ou his check on Merchants' Bank, 50 bbls. Pork, @ 12.25, 612.50. 
 
 24. G. M. Barton has paid his acceptance of lltli inst., 1550.00, by his check on Third Niitional 
 Bank. 
 
 26. S. G. Davis has paid his note of 20th inst., 1837.50, less discount to maturity — 27 days — by his 
 check on Merchants' Bank. Discount, 8.27; amount of check, 1829.23. 
 
 28. Bought of P. Armour & Co., on our acceptance at 30 days, payable at German-American 
 Bank, 100 bbls. Lard, @ 22.75, 2275.00. 
 
 29. Paid our note, favor R. B. Ashley & Co., 1150.00, with interest for 33 days, in cash. 
 Interest, 6.33. 
 
IV THEORETrCAL ANB PKACTICAL KOOK-KEEPlNG. 
 
 31. Sold Mason & Brown, on their note at 10 days, payable at First National Hank, 150 bbls Salt, 
 @ 1.40, 210.00. 
 
 Inventory — 150 bbls. Flour, @ 7.00, - 1050.00 
 
 50 " Pork, @ 11.50, 575.00 
 
 125 " Lard, @ 22.75, 2843.85 
 
 100 " Salt, (a 1.25, • - 125.00 
 
 4593.75 
 
 t 
 
 Cash, 8320.38 
 
 Net Gain, 260.88 
 
 APRIL 
 
 1. Student and B. F. Preston have this day formed a copartnership for the purpose of conduci ing 
 a General Produce business, under the firm name of Preston & Co., each to invest 20000.00. Student's 
 investment consists of Warehouse and Lot, valued at 15000. 00, upon which there is a mortgage of 5000. 00, 
 having two years yet to run from this date; an account against B. H. Manning, St. Louis, 2963.50, 
 due April 15th ; a note against Samuel Drake, Chicago, for 5800.00, payable at Live Stock National 
 Bank, at one month, from Marcli 4th, with interest, now worth 27.35, in addition to its face, and 
 horses, wagons, harnesses, scales, trucks, etc., for use of warehouse, valued at 1149.15. 
 
 B. F. Preston invests cash, 14400.00, J. C. Rcid's note for 5000.00, dated March 1st and payable 
 at First National Bank, due June 30th, without interest. Discount allowed, 75.00; an account against 
 C. W. Norton, New York, due May 7th, 1792.87. 
 
 B. F. Preston owes W. S. B:incroft, Cincinnati, on his note, payable at Third National Bank, 
 due May 9th, without interest, 1125.00. Discount to maturity, 7.13. 
 
 1. Deposited cash in German- American Bank, 5000.00. 
 
 2. Bought for cash, 6 carloads No. 1 Red Wheat, 2375 bush., @ 85c., 2018.75, and 10 carloads 
 Canada Barley, 3960 bushels, @ 66c., 2613.60. Total 4632.35. 
 
 Note. — Instead of keeping a general Merchandise account, you will keep an account with each kind of produce, 
 as Wheat, Corn, Barley, etc. 
 
 3. Bought of Granger & Co., Minneapolis, 2000 bbls. Flour, @ 5.25 per bbl. Gave in payment 
 our check on German-American Bank for 4000.00. J. C. Reid's note, 5000.00, discount to maturity, 
 allowed G. & Co., 73.33, and currency for balance, 1573.33. 
 
 5. B. H. Manning, St. Louis, has failed, and, in common with other creditors, we have decided 
 to accept 80 per cent, of our claim, for which a draft on New York has been received. Student having 
 guaranteed the account, he must bear the loss. Account, 2963.50, discount, 592.70, amount of 
 draft, 2370.80. 
 
 7. Sold Guernsey & Co., Brooklyn, on their acceptance at 30 days, 500 bbls. Flour, @ 5.75, 
 2875.00. 
 
 9. Received draft on New York, from Live Stock National Bank of Chicago, for jiroeecds of 
 Samuel Drake's note of 5860.00, due on the 7t]i inst. Interest collected, 32.23, Bank charges 5.00 for 
 collection and 5.00 for exchange on draft. Amount of draft, 5882.23. 
 
 11. Sold Prescott & Smith, Newark, 2 carloads Red Wheat, 1152 bushels, @ 92c., 1059.84, and 3 
 carloads Canada Barley, 1180 bushels, @ 72c., 849.60. Total, 1909.44. Received Ballard & Jones' 
 'note, favor P. & S., and indorsed by them for 1500.00, dated March 17th, at two months, payable at 
 Manufacturer's Bank, Newark, less discount to maturity, and their check on Newark National Bank, 
 for balance. Discount, 9.75, check, 419.19. 
 
 14. Bought for cash, 8 carloads Oats, 3864 bushels, @ 41c., 1584.24. 
 
 16. Sold Nichols & Co., Boston, at 60 days, 1000 bbls. Flour, @ 5.90, 5900.00. 
 
 18. Wishing to pay the mortgage on the warehouse, which will not mature until two years from 
 the 1st inst., we offer 50.00 in addition to the face and interest to date, which is accepted. Interest, 
 15.00, Cash payment, 5065.00. 
 
 22. Received from Wilson & Rockwell, Monroe, 5 carloads, 1964 bush. Wheat to be sold on 
 commission. Paid freight, 61.65, drayage, 25.00 in cash. 
 
THEORETICAL AND PBAOTICAL BOOKKEEPING. V 
 
 29. Stiuleufc invests 593.70 in cash, the amount of the discount on B. H. Manning's account. 
 
 Inventory— 1223 bu. Wheat, @ 85c., - 1039.55" 
 
 2780 bu. Barley, @ C6c., 1834.80 
 
 500 bbls. Flour, @ 5.25, 2625.00 
 
 3864 bu. Oats, @ 41c., 1484.24 
 
 Horses, Wagons, Scales, etc., 1149.15 
 
 Warehouse, ---■-. 15000.00 
 
 Cash on hand, 5723.35 
 
 Cash in bank, 1000.00 
 
 Net Gain, 985.61 
 
 MAY. 
 
 1. Mr. F. E. Thomas is this day received as partner in the business, giving each of the present 
 proprietors his note at six months, with interest, for such an amount as will equalize the investments; 
 to Student, 6830.94, and to B. F. Preston, 6830.93. 
 
 3. Sold for cash, the 5 carloads, 1964 bushels, Wheat, received from Wilson & Rockwell, @ 93c. 
 per bush., 1826.52. 
 
 5. Deposited cash in German- American Bank, 4500.00. 
 
 6. C. W. Norton, being unable to pay his account, 1792.87, due to-morrow, sends us a joint and 
 several note, made with interest at two months, payable at Ninth National Bank, Philadelphia, signed 
 by himself and VV. S. Newcomb, which we receive in settlement. 
 
 8. Remitted by our check on German-American Bank, for amount due to-morrow on B. F. 
 Preston's note, favor W. S. Bancroft, 1125.00. 
 
 10. Received cash for Guernsey & Co.'s acceptance, due to-day, 2875.00. 
 
 13. Shipped Randall & Reed, New York, to be sold on our account, 4 carloads Red Wheat, 1333 
 bush., invoiced, @ 85c., 1039.55. Paid insurance in cash, 5.00. 
 
 15. Rendered Wilson & Rockwell an account sales of the 5 carloads Wheat, received from them to be 
 sold on commission. In addition to freight, 61.65, and drayage, 35.00, paid when the Wheat was 
 received, we charge 3 i)er cent. Commission, 36.53, Storage, 35.00, and Insui-ance, 9.00. Remitted 
 consignors our check on German-American Bank for net proceeds, 1669.34. 
 
 18. Sold Strong &Wood, Fairport, 4 carloads Barley, 1539 bush., @ 77c., 1186.03, on their accept- 
 ance at 60 days, indorsed by W. L. Pinson, payable at DeLand National Bank, Fairport. 
 
 20. Ballard & Jones' note due to-day has been protested for non-payment. Protest fees, 1.60, paid 
 by us in cash. 
 
 23. Ballard & Jones ha^'e paid their note due the 20th, 1500.00, protest charges, 1.60, and three 
 days interest, 75c., by new note at GO days, with interest, payable at Manufacturer's Bank, Newark, for 
 750.00, balance in cash, 752.33. 
 
 27. Sold Jones & Co., on their check on Trader's Bank, 4 carloads Oats, 1931 bushels, @ 45|c., 
 874.06. 
 
 30. Received from Randall & Reed, New York, an account sales of wheat shipped them on com- 
 mission, on the 13th inst. Our net proceeds, 1224.15, due by equation. June 15th. 
 
 Inventory— 1241 bu. Barley, @ 66c, 819.06 
 
 500 bbls. Flour, @ 5.25, 2625.00 
 
 1943 bu. Oats, @ 41c, - 796.03 
 
 Warehouse, ■ 15000.00 
 
 Horses, Wagons, Scales, etc., ------- 1149.15 
 
 Cash on hand, 7544.68 
 
 Cash in bank, - 2705.66 
 
 Net Gain, 506.63 
 
VI THEORETICAL AND PRACTICAL BOOKKEEPING. 
 
 JUNE. 
 
 1. B. F. Preston, wisliing to retire from the business, proposes to sell his interest to the other two 
 partners, receiving one half cash and note for balance, which is accepted. The note for such balance 
 will be signed by the new firm; the style of which is, Thomas & Co. Cash, 6915.38; Note, 6915.37. 
 
 4. Nichols & Co., propose to pay their account, 5900.00, due 15th, providing we will allow them 
 one-quarter per cent, discount on its face, which is accepted. Discount, 14.75, cash, 5885.35. 
 
 7. Paid insurance for one year from April 1st, on warehouse, valued at 11000.00, in cash. 
 Premium 1 j^er cent., 110.00. Also paid premium for one year, obtained April 1st on an open policy 
 of insurance on contents of warehouse. Policy, 10000, Premium, 100. 
 
 10. Received from Pillsbury-& Co., 1000 bbls. Flour, invoiced at 5.10, to be sold on their "jc, and 
 risk. Paid freight in cash, 213.00; our cartage, 30.00. 
 
 13. Bought of Cook & Co., on our acceptance at 30 days, payable at German-American Bank, 5 
 carloads Eed Wheat, 3116 bushels, @ 93c., 1967.88. 
 
 15. Eeceived from Randall & Reed, cash for proceeds of shipment due to-day, 1334.15. 
 
 18. Owing to the unfavorable appearance of the wheat market, we have determined to sell the 
 2116 bushels, now on hand, at present price, 89c., for which we receive cash, 1883.34, 
 
 21. Messrs. Pillsbury & Co., being in need of funds, notify us that they liave drawn on us for 
 3500.00, at 14 days from the 18th inst., on account of the invoice of Flour received from them on the 
 10th inst. Accepted the draft, payable at German-American Bank. 
 
 23. Sell D. Collins, Winchester, for cash, 3 carloads Barley, 813 bushels, @ 77c., 636.01 
 
 26. Sold, for cash, 500 bbls. Flour, Pillsbury & Co.'s consignment, @ 5.90, 3950.00. 
 
 30. The warehouse and contents were last night, totally destroyed by fire. The insurance compa- 
 nies have this day adjusted the losses which were paid in cash, as follows: Warehouse, 11000.00; Scales, 
 Trucks, etc., 200.00; Contents, 6763.63—3600.00 of which was on ajc of 500 bbls. Flour, belonging 
 to Pillsbury & Co., which were stored in the warehouse, and covered by the open policy of insurance; 
 and the remaining 4163.63 was ai)portioned as follows: Flour, 2950.00; Oats, 884.07, Barley, 339.50. 
 
 30. Deposited in German- American Bank, 10000.00. 
 
 30. Closed Pillsbury & Co.'s consignment, and rendered consignors an account of sales. Our 
 charges, in addition to freight and cartage already entered, are: Commission, 3 per cent, on 500 bbls. 
 sold, 59.00; Storage, 5.00; Insurance, 13.75. Pillsbury & Co.'s net proceeds, 3741.35, remitted by our 
 check on German-American Bank. 
 
 The books will now be closed, preparatory to closing out the business. 
 
 Inventory — Warehouse Lot, valued at, 4000.00 
 
 Horses, Wagons, etc., valued at, 900.00 
 
 Net Gain, - - 367.18 
 
 Students present worth, 13964.32 
 
 B. F. Thomas present worth, 13904.33 
 
 Cash in bank, 9964.41 
 
 Cash on hand, - - 20719.58 
 
RETURN CIRCULATION DEPARTMENT 
 
 TO— ► 202 Main Library 
 
 LOAN PERIOD 1 
 — HOME USE 
 
 2 3 
 
 4 
 
 5 6 
 
 1 
 
 All BOOKS AAAY BE RECALLED AFTER 7 DAYS 
 
 1 -month loans moy be renewed by calling 642-3405 
 
 6-month loons may be recharged by bringing books to Circulation Desk 
 
 Renewals and recharges may be made 4 days prior to due dale 
 
 DUE AS STAMPED BELOW 
 
 MAR 2 5 1983 
 
 .... 
 
 
 
 
 
 rec'd arc. MAR V 
 
 1963 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 UNIVERSITY OF CALIFORNIA, BERKELEY 
 FORM NO. DD6, 60m, 12/80 BERKELEY, CA 94720 
 
rE 
 
 02756 
 
 
 INSTRUCTIONS TO STUDENTS. 
 
 % 
 
 I. The rooms will be 
 A. M. to 4 P. M. 
 
 2 Students should 
 Street, between Kearnr 
 
 3. i tie d'tors 
 foIIowA : :a ■►'oloi 
 
 udy every week day, except Saturday, from 8J o'clock 
 
 iir time as not ti) be present at the College or on Post 
 icry Streets, before tlie opening' o! the school-rooms. 
 
 1 be closed at the commencement of each session, as 
 . M. 
 
 after the dodrs are closed. 
 
 5. Recitatioi)- 
 ing until 12 o'cly 
 
 6. Pupi)-' 
 will observV 
 
 reach 
 ilird ' 
 
 235965 
 
 ciliately after roll-call, and will continue in the morn- 
 I until 4 o'clock P. M. 
 
 •■nn-call, either at the forenoon or afternoon sessions, 
 lerence to deportment, as after roll-call. 
 
 , iiiu' by boat or rail, when it is impossible for them to 
 .)il r;ill at the morning session, will' have appointed a spec- 
 A at time, they will not be considered tardy. After that 
 
 tlir» --''-■' ut)t present they will be marked tardy. 
 
 ,. ith his parents or guardian, or within reach of them, shall be 
 lie allowed until the following morning to present his excuse if 
 . I'f being tardy. 
 
 ,vith parents or guardians, or within reach of them, if absent any one 
 t,-, must brinjf written note or excuse for such absence from them before 
 ame their stuiiies. 
 
 ■ivinu- parents or guardians, but not residing with them, if absent from any 
 - ..c tardy at any session, must write out their excuse in proper form, forward it 
 TO parent or j^uardian to be countersigned, and return it to their teacher at the earliest possi- 
 ble moment. 
 
 11. Pupils having no parents, or being in charge of no person, will be held personally 
 responsible, and U absent or tardy at any session, must write out their own excuse in proper 
 form, and present it to their teacher before resuming work. 
 
 12. If pupils are absent from school at any time without having given a written notice 
 of such intended absence, the time they are thus out of school will be their own loss. 
 
 13. Absence from bchoul for two consecutive days will subject the student to the loss of 
 his seat, unless an excuse is sent to the College within that time. 
 
 14. A pupil when writing an excuse to leave his seat, will write it in ink, and give the 
 date and time of day, state where he wishes to go, and give the number of minutes he wishes 
 to be out of his seat. 
 
 15. Apunil when writing an excuse to communicate, will write it in ink, and give the 
 date, time of day. the number of minutes he wishes to communicate, to whom, and for what 
 purpose ; and during such communicatiun, he must refrain from all loud talking. 
 
 16. Pupils ai e required to be orderly and prompt in passing to and from classes. 
 
 17. Students are requested, as far as possible, to procure books and stationery in the 
 morning before the commencement of school, at noontime, or at the close of school. 
 
 18. Any student cutting, or in any way disfiguring, any article ot furniture belonging to the 
 College, njarking (>r writing on the desks, walla, or woodwork, in any of the rooms or passages 
 of the institution, will be subject to expulsion. 
 
 19. Ignorance of the rules and regulations of the institution will in no case serve as an 
 excuse for non-observance. 
 
 20. Pupils are particularly reminded that the school-rooms are open for work only, this 
 being for their best interests; therefore, pupils not at work, are out of their line of duty, and 
 must expect correction for their own good. 
 
 Note. — The word "guardian," as used in all rules and regulations of the College, is un- 
 derstood to mean any person who may, directly or indirectly, have charge of any pupil.