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LIBRARV 
 
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 University of California. 
 
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 Received YyiCU^- . tSg^. 
 
 Accession No. (p^y^l^ . Oass No. ^^Lf^'t 
 
 CV37 
 
Digitized by the Internet Archive 
 
 in 2007 with funding from 
 
 IVIicrosoft Corporation 
 
 http://www.archive.org/details/essentialsofbookOOchilrich 
 
C.W. CinUs 
 
ESSENTIALS 
 
 BOOK-KEEPING, 
 
 FOR PUBLIC SCHOOLS. 
 
 OP THR 
 
 SINGLE AND DOUBLE ENTRY, 
 
 FOBMB AND EZPLANATIOKB Or BUSOnESS PAPKM 
 
 C. W. CHILDS, 
 
 in CUlforniA Suta Nonad SohooL 
 8aa Joae. G«l. 
 
 SAN FRANCISCO: 
 
 THE BANCROFT COMPANY. 
 
 1891. 
 
r>REKACE. 
 
 It is cnstomaiy to apologize to the public when presenting a 
 new book for their consideration. The works upon Book-keeping 
 already published were made in the East Our methods of 
 doing business and our prices differ somewhat from the methods 
 and prices of the East We have consulted with book-keepers, 
 business men, and prominent teachers on this coast, and believe 
 that this manual, the product of our experience and consulta- 
 tions, will be found better suited to the wants of our public 
 schools than other similar works. 
 
 Single Entry Book-keeping is extensively used on this coast, 
 consequently, considerable space is given to this system of 
 book-keeping. Our examples and forms are taken, in many 
 instances, directly from the books of merchants m the busmess 
 centers of this State, and are, therefore, eminently practical. 
 
 More attention than usual has been given to the forms and 
 use of business papers, as many have little opportunity of 
 acquiring such knowledge except by an experience that may 
 come too late to prevent errors, and even serious loss. 
 
 Copyright by The Bancroft Company, 1888. 
 
CONTENTS. 
 
 Suggestions to Teachers 4 
 
 PART I.-SINGLE ENTRY. 
 
 Characters and Abbreviations used in Book-keeping 6 
 
 Book-keeping 7 
 
 Definitions of Single Entry Books 8 
 
 Diagram showing the Relation of the various Books to one another 9 
 
 Explanation of Terms used 10 
 
 Cash Book Accounts 11 
 
 Cash Book Examples 12 
 
 Review Questions on Cash Book 13 
 
 Ledger Accounts 14 
 
 Reviews and Suggestions 16 
 
 The Day Book 16 
 
 Day Book Accounts 17 
 
 Model Set 1 18 
 
 Instructions for Opening and Closing a Set of Single Entry Books 24 
 
 Suggestions and Reviews 25 
 
 Model S. t II ^. 26 
 
 Commercial Terms . . .*. 32 
 
 Business Paper. 34 
 
 Business Forms 34 
 
 Questions for Reviews, on Business Forms 48 
 
 General Review Questions 50 
 
 Exercises for the Student 62 
 
 Model Set III 67 
 
 Special Remarks in the Ledger 74 
 
 4 PART II.— DOUBLE ENTRY. 
 
 Double Entry. 77 
 
 Double Entry Books 78 
 
 Principles and Rules 80 
 
 Rules for J oumalizing . 88 
 
 Lost Accounts and Notes 86 
 
 Change of Single Entry to Double Entry 87 
 
 Diagram for Blackboard 89 
 
 Examples of Journalizing 90 
 
 Model Set 1 93 
 
 Model Set II ; . . . . 97 
 
 Model Set III 107 
 
 Review Questions 1 17 
 
 Exercises for the Student 120 
 
 Model Set IV 136 
 
 Balance Sheet 146 
 
 Exercises for the Student 147 
 
 KEY TO EXERCISES FOR THE STUDENT. 
 
 Key to Exercises in Part I 153 
 
 Key to Exercises in Part II 166 
 
 3 
 
SUGGESTIONS TO TEACHEES. 
 
 L Book-keeping is very simple and easy of comprehension^ 
 and my aim has been to present every point clearly and dis- 
 tinctly, while giWng the student only the essential points of the 
 subject to study. 
 
 2. A Cash Account presents the elementary ideas of the 
 office of an account; therefore, it is made the first step in the 
 student's progress. The teacher should be satisfied that his 
 class is perfectly familiar with this account before commencing 
 the study of the Ledger. 
 
 3. At first, let the student use loose paper and rule his own 
 forms; but, in order to acquire habits of accuracy and neat- 
 ness, he must copy carefully all the important part of his work 
 in proper blank books. 
 
 4. As red ink is apt to become a nuisance in the ^chool-room, 
 I suggest that a hard lead-pencil be used to rule lines and to 
 write all words or phrases usually written with red ink. Let 
 the pencil mark stand for red ink. 
 
 5. Students should not be required to memorize definitions 
 and technical terms before they are called to use them. Use 
 the review questions, and others that may suggest themselves 
 to you, at any seasonable time 
 
 6. Li order to comprehend fully how and when to use the 
 various forms of "business paper," the student should write 
 out notes, orders, receipts, bills, etc., at the time these papers 
 are mentioned in the "sef 
 
 7. Capitalization, punctuation, and business penmanship should 
 receive considerable attention, and the blackboard should be made 
 the auxiliary of the text-book in teaching book-keeping and 
 writing. 
 
PAET I. 
 
 SII^GLE EJSTTEY, 
 
CHAEACTERS AND ABBREVIATIONS USED IN 
 BOOK-KEEPING. 
 
 # At or to. 
 
 ^ Aooount. 
 
 % Percent. 
 
 ^ Namber. 
 
 V One and one^foortli. 
 
 1* One and one-hall. 
 
 OHARACTEBS. 
 
 1' One and three-fourths. 
 
 V Check Mark. 
 
 $ Dollan. 
 
 f CentB. 
 
 £ Pound Sterling. 
 
 X By, aa 8x11. 
 
 fi Ponnda, Gallons, Yards, Dozens, and Feet. 
 
 phfiB^Thta ehanetw wbucrar llabl* to b« BlaoadMatood, is rqitaotd in this 
 text-book bj lb* vmal eooToatloaAl slga.] 
 
 ABBRETIATIOMS. 
 
 A 1 First Claas. 
 
 Aec\ or <)b> •••Aooount. 
 
 Ami Amount 
 
 A^ Agent 
 
 Aitg August 
 
 Ha/ Balance. 
 
 B.B Bill Book. 
 
 BoX Bought 
 
 Brtfi Brought 
 
 B.P Bills Payable. 
 
 B.B Bills ReceivaUau 
 
 BHA Barrel 
 
 C. or CttUwm. .Hundred. 
 
 C,B Cash Book. 
 
 Co C<Mnpany. 
 
 CO, D Collect on DeliToy. 
 
 Cr Creditor. 
 
 CoPdL Colored. 
 
 JH Days. 
 
 D. B Day Book. 
 
 J>r Debtor. 
 
 Do. (DUto). . . .The Same. 
 
 Dos Dosen. 
 
 J>ft Draft 
 
 E. B Errors Excepted. 
 
 Exck Exchange. 
 
 Exp Expenses. 
 
 Pol Folio. 
 
 Fh Freight 
 
 Fwd Forward. 
 
 Qal Qalloo. 
 
 Ilhd Hogsheftd. 
 
 Hdlf Handkerchief. 
 
 Int Interest 
 
 Invt Inventory. 
 
 Ifofi Investment 
 
 In» Insurance. 
 
 Inv Invoice. 
 
 I, B Invoice Book. 
 
 Inat InsUnt (this Mo.) 
 
 Jan. January. 
 
 J, P Journal Page. 
 
 IA>» Pounds. 
 
 L.P ... Ledger Page. 
 
 Ar<i«e Merchandise. 
 
 M. B Memorandum Book. 
 
 No Number. 
 
 Pr Pair. 
 
 Pernor ^ By. 
 
 P.A L Profit and Loaa. 
 
 Rec'd Received. 
 
 R,R Railroad. 
 
 8.B Sales Book. 
 
 Sir Steamer. 
 
 Svmdt Sundries. 
 
 UU Ultimo (last Mo.) 
 
 Viz, Namely. 
 
 V$ Against 
 
 X Extra. 
 
 Tr Year. 
 
ft 
 
 BOOK-KEEPING. 
 
 1. Book-keeping is the science of accounts, and teaches ho"w 
 to record business transactions in a systematic manner. 
 
 2. Book-keeping is of two kinds — Single Entry and Double 
 Entry . 
 
 3. In Single Entry we make an entry only when a per- 
 sonal account is affected, at which time we charge or credit 
 the person — making an entry to only one account — hence single 
 entry. 
 
 4. In Double Entry every Dusmess transaction is entered 
 in two or more accounts, according to the number affected by 
 the transaction. Every time we debit an account with an item, 
 we credit some other account for the sajne amount — hence, 
 double entry. 
 
 5. An Account is a collection of items under one heading 
 in the Ledger. 
 
 6. A Personal Account is an account with a person, firm 
 or corporation. 
 
 7. A Transaction is any business operation; as, a purchase, 
 a sale, or an agreement between two or more persons. 
 
 8. An Entry is the memorandum or written statement of 
 a transaction. An original entry is the first entry of a trans- 
 action. 
 
 9. Two libids of books are used in book-keeping — Principal, 
 and Auxiliary or Aid books. 
 
 10. The Ledger, and all books containing accounts which 
 are to be transferred directly to the Ledger, may be called 
 Principal books. The Day Book or Journal, Cash Book, and 
 sometimes Sales Book and Invoice Book, contain an account 
 of transactions that are to be carried directly to the Ledger. 
 
 7 
 
DEFINITION OF SINGLE ENTRY BOOKS. 
 
 The nmuber of Books required to conduct a business in either 
 Single or Double Entry, and the particular mode of keeping 
 the accounts must depend upon the nature and extent of the 
 business. Single Entry is chiefly used when the business is 
 limited, and the transactions are of a simple character. The 
 following list of books comprises all that are usually used in 
 Single Entry: Day Book, Ledger, Cash Book, Invoice Book, 
 Sales Book. 
 
 Day Book. — ^This book usually contains statements of all 
 the transactions in our business which give rise to persons' 
 owing us, or to our owing them. The date of the transaction, 
 the name of the party, and a description of the ^^ values^' 
 received or given, must be recorded with the utmost precision. 
 
 The Ledger. — This book is the great reservoir of accounts. 
 Into it flow all the debits and credits of the business. Its con- 
 tents are usually made up from the Day Book. Some book- 
 keepers, however, post directly from the Invoice, Sales and 
 Cash Books to the Ledger. The Ledger enables us to see, at 
 one view, all that a person owes us, and all that we owe him. 
 
 Gash Book. — This book contains an account of all cash 
 received or paid. The entries should be made in it at or near 
 the time of the transaction. 
 
 LlTlrfce Book. — This book contains a minute description of 
 all the merchandise bought or received. Copies are made in 
 this book from the bills of goods purchased. The most con- 
 venient way of keeping an Invoice Book is to paste the bills 
 received into a book prepared for that purpose. The amounts 
 of each page should be added and carried forward. 
 
 Sales Book. — This book contains a description of the mer- 
 chandise we seU or pass out of our possession. As the pur- 
 chaser selects his goods, they are entered in the Sales Book, 
 from which entry his bill is made out The amounts of each 
 page should be added and carried forward. 
 
 Bill Book. — This book contains a description of all the notes, 
 drafts, and other species of negotiable paper held by or against 
 us. Negotiable paper in our favor, is classed under the head 
 of Bills Receivable, and that against us, under the head of 
 Bills Payable. 
 
 • 
 
DIAGRAM SHOWma THE RELATION OF THE 
 VARIOUS BOOKS TO ONE ANOTHER. 
 
 Some book-keepers post directly from the Invoice, Sales, and Cash Books 
 to the Ledger. If posting only from the Day Book, all business transactions 
 requiring an entry in the Ledger, must first appear in the Day Book. 
 
 DAT BOOK. 
 
 
 INVOICE BK. 
 
 V« 
 
 < 
 
 '"Sht' 
 
 M 
 
 BILL BOOK. 
 
 
 §.^ 
 
 ^<V</ 
 
 
 L.EDGKR. 
 
 '■l 
 
 li 
 
 c c 
 
 ? 
 
 •^A 
 
 \^' 
 
 V. 
 
 0^ 
 
 BALANCE SHEET. 
 
 Put all Resources 
 on the Dr. side, all 
 Liabilities on the 
 Cr. aide. 
 
 «. 
 
 %. 
 
 SALES BOOK. 
 
 CASH BOOK. 
 
 WO 
 
 E-g 
 
 
EXPLANATION OF TEEMS USED. 
 
 Whenever one person receives anjrthing from another, which 
 he does not pay for at the time, he is said to go in debt for 
 it^ and he is called a Debtor, and, in book-keeping, he is debited 
 for the amonnt. To debit means to charge with the amount 
 of the indebtedness incurred. 
 
 A person who sells property without receiving his pay at 
 the time, is said to give credit for it> and he is called a Creditor, 
 and, in book-keeping, he is credited for the amount. 
 
 The buyer on <J^ is always the Debtor, and the seller on <Jfe 
 is always the Creditor. In keeping accounts it is customary, 
 and more convenient^ to abridge and write Dr. for Debtor, and 
 Cr. for Creditor. 
 
 The word To is .used oh the Dr. side of an account, and 
 indicates indebtedness to us from the person named in the 
 aooount 
 
 The word Bjf is used on the Cr. side of an account and 
 indicates indebtedness 5y us to the person named in the account. 
 
 Any kind of value belonging to us is called a resource^ and 
 any debit owed by us is called a liability. 
 
 All written or printed obligations of whatever form — usually 
 notes and drafts — not payable at sight, in our possession, for 
 which a certain specified amount is to be received, are called 
 Bills Receivable. 
 
 All written or printed obligations of whatever kind — usually 
 notes and drafts — not payable at sight, for which a specified 
 amount is to be paid by us, are called Bills Payable. 
 
 An Invoice is a bill of merchandise in which all the articles 
 are enumerated, with the price of each article. 
 
 An Inventory is a schedule of imsold articles or goods, esti- 
 mated at their known cash value. 
 
 Cash is a term applied to coin and to all business paper pay- 
 able at sight; as Bank Notes, Checks, Drafts, P. O. Orders, etc 
 
 The Balance of an account is the excess of one money col- 
 umn over the other. 
 
 Footing Lines are the single lines, usually drawn with red 
 ink, under the money columns to be added. 
 
 Closing Lines are the double lines, usually drawn with 
 red ink under an account, when the accoimt is closed. 
 
 10 
 
CASH BOOK ACCOUNTS. 
 
 Dealers that never give any credit require but one booli; 
 and that is the Cash Book. Receiving credit is of no conse. 
 quence in book-keeping if none be given. As this book is the 
 hey book of all the others, we shall commence with it. 
 
 Business men attach much importance to the Cash Account, 
 as it is a check against improper payments, and omissions and 
 erroneous entries in other books. Every person should keep a 
 Cash Book. It is customary in actual business to balance this 
 account daily, but the student may balance weekly or monthly 
 as he chooses. 
 
 It would aid the beginner if he would look upon "Cash" as 
 a person. When money is received or paid in. Cash is debited 
 because it passes into Cash's hands; and when money is paid 
 out Cash is credited, because Cash supplies the money that 
 makes the payment. 
 
 The left-hand column is for cash received, or "Cash Dr.;" 
 the right-hand column is for cash paid out, or "Cash Cr." 
 Enter in the left-hand column the cash on hand and eVery 
 receipt of cash, and enter in the right-hand column every cash 
 payment. 
 
 When you wish to "balance'' or close your Cash Account, 
 add the money columns, subtract the total payments from the 
 total receipts, and enter the balance in red ink in the nght- 
 hand column. Draw your closing lines, and bring down under 
 the left hand column, in black ink, this balance, which is the 
 cash on hand for the continuation of business. 
 
 The following cash transactions wiU Ulustrate fully the 
 method of keeping a Single Entry Cash Book: 
 
 (John^s Cash Account.) — Jan. 1, 1883. Cash from father. 
 $3.50. Jan. 2. Paid 50^ for a slate, and 75^ for stationery. 
 Jan. 6. Received $1.50 for three days' work storing wood. 
 Jan. 8. Paid $1.25 subscription to Youth's Companion. Jan. 
 10. Received $1.25 for a doz. quail. Jan. 13. Paid $1.10 for a 
 
 hat. Jan. 15. Balanced my account and find $ on hand 
 
 Jan. 18. Received $2.75 for hauling fruit to market. Jan. 20. 
 Paid 75^ for ammunition. Jan. 22. Paid $1 for Milne's 
 arithmetic. Jan. 25. Received $2 for cleaning yard ^ 
 
 11 
 
CASH BOOK ACCOUNTS. 
 
 26. Paid $1.50 for Ldfe of Columbus. Jan. 27. Received 75^ 
 for six pigeons. Jan. 28. Paid 60^ for repairing shoes. Jan. 
 Balance on hand, $ 
 
 30. 
 
 CASH, 
 
 Db. 
 
 m 
 
 Amoant on liand . 
 
 Paid for SUt« and Stationery 
 
 61 Received for 3 da. Labor 
 
 8 Paid Sab. to YouUr* Compaaioa. . 
 
 10 ReoeiTed for a dos. Qnail 
 
 13 Paid for a Hat 
 
 lA Balance 
 
 Jaa.15 
 18 
 
 JaB.M 
 
 Amoont on 
 Reoeired for Hauling Fruit 
 Paid for Ammunition ... 
 
 Paid for an Arith 
 
 Received for Cleaning Yard . 
 Paid for Life of Colnmbna . . 
 
 Received for 6 Pigeons 
 
 Fud for Repairing Shoes. . . , 
 
 Balamee 
 
 Amount on hand , 
 
 350 
 50 
 
 625 
 
 25 
 
 286 
 276 
 
 200 
 
 75 
 
 815 
 
 430 
 
 125 
 
 25 
 
 10 
 
 £65 
 
 76 
 00 
 
 50 
 
 4 SO 
 8l6 
 
 CASH BOOK EXAMPLES. 
 
 The following sets of accounts should be written in Cash 
 Book form by the student — ^using the form on this page for the 
 first set^ and the form on pages 22 and 23 for the others: 
 
 {School Boy's Atc't.) Aug. 1. Cash on hand, $44.50. 2. Paid 
 $6.80 for set of school books. 3. Paid 75^ for stationery. 4. 
 Paid 50^ for car tickets. 5. Paid $5 for board. 8. Rec'd 
 $1..''>0 for picking fruit. 9. Paid laundry bill, 75f 10. Paid 
 for refreshments at a festival, $1.25. 12. Paid $5 for board. 
 13. Rec'd $2 for picking fruit. 14. Paid laundry bill, 90^. 
 
 15. Balanced acct and find $ on hand. 16. Paid 50^ for 
 
 stamps. 18. Paid $10.80 for clothing. 20. Paid $5 for board. 
 
 12 
 
CASH BOOK ACCOUNTS. 
 
 22. Rec'd $20 from home. 24. Paid $1.20 for laundry bilL 
 25. Paid 80^ for pleasure trip. 27. Paid $5 for board. 28. 
 Paid $1.25 for books. 29. Paid $2.75 for shoes. 31. Balance 
 the acicoimts. 
 
 (BlacUmiWs Acc'tJ Sept. 1. Cash on hand, $75.80. 2. Paid 
 for iron, $23.10. 3. Rec'd for shoeing horses, $2.50. 4. Paid 
 for stock of wood, $18.50. 5. Rec'd for repairs on wagon, $3.20. 
 6. Rec'd for repairing plow, $1.50. 8. Paid $3.25 for coal. 9. 
 Rec'd $9.50 for making harrow. 10. Paid $11.50 for groceries. 
 11. Rec'd $4.50 for shoeing horses. 12. Rec'd $10 of Ira 
 Parker on ^. 15. Paid laundry bill, $4.10. 16. Rec'd $5.50 
 /or labor. i8. Rec'd $12.50 of Calvin Webster in fuU of <^. 
 20. Rec'd $2.80 for labor. 22. Paid $10 for groceries. 23. 
 Rec'd $8.50 of J. H. Brady on ^. 24. Paid for fruit, $3.50. 
 25. Rec'd for labor, $3.25. 28. Rec'd for labor, $2.75. 30. 
 Balance on hand, $ 
 
 (Retail Merchanfs Ac&t.J Oct. 1. Cash on hand, $1,840.25. 
 2. Paid for butter, $10.20. 3. Paid for stationery, $6.25. 4. 
 Paid A. Waldteufel $12.50, for Acc't Books. 5. Rec'd for sales, 
 $125. 6. Paid for carriage hire, $4.50. 6. Paid clerk's salary, 
 $50. 8. Rec'd of J. G. Kennedy, on ^^., $16.80. 9. Paid gas 
 bill, $5.60. 10. Paid for Mdse., $240. 11. Rec'd for sales, 
 $110.40. 12. Paid for repairing store, $23.75. 13. Rec'd of 
 Ira More, on <}^, $20. 14. Paid $12.50 for coal. 16. Paid 
 clerk's salary, $50. 18. Paid for rent of store, $70. 19. Rec'd 
 for sales, $96.10. 20. Paid for clothing, $28.50. 21. Paid for 
 merchandise, $110.80. 23. Paid for dray age, $16.40. 24. Rec'd 
 of Luella Gillespie on (^, $23.80. 25. Paid Bancroft & Co. 
 for books, $10.20. 28. Paid for hay, $12. 30. Balance on 
 hand, $ 
 
 RKVTEW QUESTIONS ON CASH BOOK. 
 
 Define Cash. State reasons for keeping a Cash Book. Draw 
 a Cash Book form on the blackboard, and explain the use of 
 the various columns. On which side are Cash receipts entered, 
 and whyt What is meant by "balancing the Cash Book?" 
 When and why is the Cash Book balanced? State the use of 
 red ink in balancing. Why is red ink used? 
 
 13 
 
LEDGER ACCOUNTS. 
 
 As has been stated, the Ledger is the principal book. When 
 business transactions are few and simple, as with the farmer 
 and tiie mechanic, the Ledger may be made the only book of 
 accounts. 
 
 Each page, or folio, of the Ledger is divided into two parts 
 from top to bottom. The left-hand division is always the debit 
 side, and the right-hand division the credit side of the account. 
 When the Ledger is the only book kept) it is best to use a 
 double-page Ledger, in which the left-hand page is the Dr. 
 side, and the right-hand one the Or. side of the account. 
 
 Study the following examples and forms carefully, and then 
 write the examples on pages 15 and 16 in Ledger form, — using 
 single folio for the first, and double folio for the others. 
 
 (A Farmer's Act^i with a Hired Man.) May 1st, 1883. John 
 Edwanls has worked one month, @ $30 per month. 10th. Paid 
 Edwards $12. 11th. Let him have 4 centals wheat, @ $1.40 
 per C. 14th. Paid him $10. 15th. Credit him with two weeks' 
 work, $15. 
 
 (An Acct with a ^Yheat FieidJ Jan. 1st, '83. Debit the field 
 with 9 days' plowing, @ $3 per day. 5th. 3 days' harrowing, 
 (^ $2.25 per day. 8ih. 22 centals of seed wheat, @ $1.60 per 
 C. 13th. 2 days' work sowing, @ $2 per day. 18th. Harrow- 
 ing 4 days, @ $3. June 20th. Expense of harvesting and 
 threshing, $70. 28th. Expense of marketing, $15.50. 28th. 
 Credit the field with cash for 324 centals of wheat, @ $1.70 
 per C. 30th. Sold the straw and stubble for $35. July 1st. 
 Debit the field witli the interest on value of 18 acres, $1800 
 at 7%, $ What has been my profit on the field! 
 
 JORy EBWAMBS. 
 
 1883 
 Mmy 
 
 DMh 
 
 4 a Wheat, @ $1.40. 
 
 Cash 
 
 Balcmee 
 
 1883 
 Blay 
 
 500 
 
 10 
 1740 
 
 46 
 
 1 Month's Work. 
 1 <« ** . 
 
 Mayjiai Balance. 
 
 30 
 15 
 
 45 
 
 1740 
 
 14 
 
LEDGER ACCOUNTS. 
 
 WHEAT FIELD, (is Acres.) 
 
 1883 
 Jan. 
 
 Jnn. 
 
 July 
 
 9 Days* Plowing 
 
 3 " Harrowing 
 
 22 C. Wheat 
 
 Sowing Wheat 
 
 Harrowing 
 
 Expense of Harvesting and 
 Threshing 
 
 Expense of Marketing. . 
 
 Interest on Land 
 
 Balimce {Gakum FUd).. 
 
 Il883 
 OOlJun. 
 
 35201 
 
 400(1 
 
 12000 
 
 Gash 
 
 55080 
 3500 
 
 58580 
 
 (An Acdt with a Barley Field.) Jan. 30, '82. Plowed the 
 field of 40 acres at a cost of $1.75 per acre. Feb. 15. Fur- 
 nished 4,800 lbs. seed barley, @ $1.50 per C. 16th. Sowed the 
 field at a cost of $6. 18th. Paid 40^ an acre for harrowing. 
 July 2. Harvested the barley at a cost of $1.50 per acre. 25th. 
 Paid 18^ per C. for threshing and sacking 1,050 centals. Aug. 
 1. Stored the barley until Oct. 1, at a cost of 2^ per C. per 
 month; cost of hauling barley to warehouse, $15. Oct. 1. Sold 
 the barley for $1.80 per C. Value of the straw and stubble, $45. 
 
 Interest on value of 40 acres at $75 per acre, @ 8%,$ 
 
 What has been my profit on the field! 
 
 (A Carpenter's Ac(?t tcith a Farmer.) June 30, '82. Worked 
 for the farmer, Henry A. Gordon, 6 days @ $2.50 per day. 
 10th. Rec'd cash $8.50. 16th. Repaired bam and charged $16 
 20th. Rec'd 300 lbs. potatoes,® IJ^ per lb. 28th. Repaired 
 fence and charged $8.75. July 8th. Rec'd cash, $10. 15th. 
 Rec'd vegetables valued at $2.75. 30th. Repaired tools and 
 charged $7.75. Aug. 10. Rec'd cash, $15. 20th. Worked on 
 fence 5 days, @ $2.50 per day. 22d. Rec'd cash, $10.50. 24th. 
 Rec'd 20 lbs. bacon, @ 15^ per lb. 28th. Charged him with 5 
 days' work on house, @ $3 per day. Sept. 5. Worked 3J days 
 on barn, @ $3 per day. 12th. Rec'd cash, $6.50. 13th. Rec'd 
 18 lbs. ham, @ 20^ per lb. 20th. Worked three days repair- 
 ing gates, @ $2.50 per day. 26th. Rec'd cash, $5.50. Balance 
 the account Sept. 30th, and bring down the balance. 
 
 X5 
 
LEDGER ACCOUNTS. 
 
 (A Farmer's Ac&t with a Laborer.) March 5, '83. Peter B 
 Cooper worked for me 3 days, plowing, @ $1.50 per day. 
 10. Sold him 25 f/i bacon, @ 16^. 12. He has plowed for me 
 8 days, @ $1.50 per day. 13. Paid him cash, $5.50. 14. 
 Let him have 200 ;^ potatoes, @ 14^. 15. He has ditched for 
 me 3 days, @ $1.75 per day. 20. BaL $ 
 
 BJEVUCWB Am> SUOGSSnOllS. 
 
 Prepare similar accounts and let students assist in making 
 them. Require the students to draw a Ledger form on the 
 blackboard and explain tlie use of the various columns. What is 
 meant by opening an account? By closing an account? What 
 18 an account! What is shown by the Dr. side of an acc'tT 
 The Or. side of an acc'tf What is the difference between the 
 Dr. and the Cr. side called? On which side is the difference 
 placed, and why? When and why is an acc*t closed? When 
 and why is the balance brought down ? What use is made of 
 red ink in closing? 
 
 THE DAY BOOK. 
 
 If you do an extensive credit business, a book of consecutive 
 record, giving a plain and simple account of the business as 
 it progresses day by day, will be of essential service; and 
 merchants usually keep a Day Book or " Blotter," as it is some- 
 times called, in which are entered transactions as they occur. 
 These transactions are then transferred to the Ledger. This 
 is called posting. 
 
 The date in the Day Book is kept in the middle of the page, 
 and the left-hand columns are used for '^checking," and for 
 entering the number of the Ledger page to which the entry 
 is posted. 
 
 Remember that if you post only from the Day Book, all busi- 
 ness transactions requiring an entry in the Ledger must first 
 appear in the Day Book; such as cash paid or received on 
 account; notes or other business paper given or received on 
 aooount; Mdse. bought or sold on account, or partly paid for 
 at the time. 
 
 ib 
 
OP tTiF 
 
 '^^CAUFORH\^ ' 
 
 DAY BOOK ACCOUNTS. 
 
 The following Day Book form should be carefully examined 
 by the student, and the examples given be written in proper 
 form: 
 
 San Jose, Jan. 1, 1883. Sold Horace Crocker, on ^, 20 j!ff 
 bacon, @ 16^; 25;^ sugar, @ 13^; 50 ^ potatoes, @ IJf 
 Jan. 2. Sold Geo. S. Wells, on % 300;^ of flour, @ $3 per 
 C; 50;!^ dried peaches, @ 15^ j rec'd cash, on <%, $10. Jan. 
 5. Rec'd cash on acc't of Horace Crocker, $5.50. Jan. 6. Bo^t 
 of Farmers' Union, on ^, 148 jj^ sugar, @ 12f^ ; paid cash on 
 acc^, $15. Jan. 10. Credit Henry Bailey with five days' work, 
 @ $2. Jan. 15. Bo't of W. 0. Blodget, on % 150 ]jC dried 
 prunes, @ 10^; 200;^ dried apples, @ 6^j paid him cash, on 
 acc't, $10. 
 
 SAK JOSE, January 1, 188S. 
 
 Horace Cbockkb, 
 20 y Bacon, 
 25 ^ Sugar, 
 50 fj: Potatoes, 
 
 Geo. S. Wklls, 
 300 ff Flour, 
 60 ;f? Dried Peaches, 
 
 Dr. 
 
 16^. 
 
 Dr. 
 
 $3perC. 
 \5f 
 
 Cash. 
 
 Cr. 
 5. 
 
 Horace Crocker, 
 Cash 
 
 Cr. 
 
 Farmers' Union, 
 148 ff Sugar, 
 
 Cr. 
 
 @l2f. 
 
 Cash. 
 
 Henry Bailey, 
 5 ds.. Work, 
 
 W. 0. Blodget, 
 
 150 y Dried Prunes, 
 200 y •• Apples, 
 
 Cash 
 
 Dr, 
 10. 
 
 15. 
 
 Dr. 
 
 Cr. 
 
 @|2. 
 
 Cr. 
 
 10^ 
 
 5C 
 
 20 
 
 1650 
 10 
 
 550 
 
 17 7C 
 16 
 
 10 
 
 27 
 10 
 
 17 
 
DAY BOOK ACCOUNTS. 
 
 Sacramento, Oct. Ist, 1882. Sold (use the name of a student), 
 on <Jfr, 28;^ of sheeting, ® 8i^j 2 pr. shoes, @ $1.40; 15 ;fr 
 cambric, @ 10^. Oct 2d. Bought of (student), on % 20 fjl but- 
 ter, @ 30^; 124 ;Jf cheese, @ 20^. 3d. Rec»d cash on acc't of 
 (student), $5.00. 4th. Sold (student), on <5fe, 4 j^ eggs, @ 30^ j 
 10 # lard, @ 20^; 12 # coflfee, ® 25f; rec^d cash, $2.50. 5th. 
 Bought of (student), on <)fc, 300 ;Jf dried apples, 6^; 200 /f dried 
 prunes, @ 10v*j paid cash, $20. 6th. Sold (student) 50;ff flour, 
 % $4.50, and received his note at 60 ds., for $125; balance on 
 acc^ 8th. Loaned (student) $20. 9th. Gave our clerk (student) 
 an order on (student of 6th inst.) for $25. 10th. Rec'd an order 
 from (student of 2d inst) requesting us to let (student No. 4) 
 have $20 worth of Mdse. (write the order; for form, see p. 42, 
 No. 24). In the 9th, debit our clerk and credit student; and 
 in 10th, debit student of 2d inst. Give reasons for these debits 
 and credits. 
 
 MODEL SET L 
 
 San Francisco, Aug. 1, 1883. Frank Whitby commenced 
 business this day with the following resources and liabilities: 
 Mdse.y as per Invt., $750; cashj $850.50. He owes Nathan Frank, 
 $150 OH acf't 
 
 Aug. 2. Sold Frank Merrill, on % 3 gal. N. O. molasses, 
 @ 85^; 2 gaL linseed oil, @ 60^. Aug. 3. Bo't of Essie Smith, 
 on <Jf:, 200# dried prunes, @ 10?; 75 # dried apples, @ 6?; 
 sold Essie Smith, on <}f;, 50 ;Jf sugar, @ 12i?. Aug. 4. Paid 
 Nathan Frank cash, on % $50. Aug. 5. Sold Wm. Roberts, 
 on % 300 /^ flour, @ $3.50 per C; 150^ potatoes, @ IJ?; 
 rec'd cash, on <5fc, $5. Aug. 6. Sold Calvin Webster, on <Jfe, 
 iWO centals wheat, @ $1.60; rec'd his note at 30 ds., for $300; 
 balance on acc't. Aug. 7. Charged Frank Whitby, on private 
 acc^t, for groceries to date, $42.50. Aug. 8. Rec'd of Calvin 
 Webster cash, on <)fc, $50. Aug. 9. Sold William Roberts, on 
 «^, 140 ;Jf sugar, @ 11^?. Aug. 10. Accepted Nathan Frank's 
 draft, at 10 ds., for balance due him to date. Aug. 12. Took 
 Invt; Mdse. unsold, $275. 
 
 18 
 
Set L] 
 
 DAY BOOK. 
 
 SAN FRANCISCO, August U 188S. 
 
 Frank Whitby, Cr. 
 
 • Cash, invested 
 
 Mdse., •♦ 
 
 Dr. 
 
 Amt. due Nathan Frank 
 
 // 
 Nathan Frank, Cr. 
 Balance due him 
 
 2. 
 
 Frank Merrill, Ih-. 
 
 3 ;^ N. O. Molaaset, @ 85^ 
 
 2 ff Linseed Oil, 60< 
 
 3. 
 
 Essie Smith, Cr. 
 
 200 ff Dried Prunes, @ 10^ 
 
 Ibfji " Apples, tf 
 
 Dr. 
 50;^: Sugar, ® 12J^ 
 
 4. 
 Nathan Frank, Dr. 
 Cash, on <% 
 
 5. 
 
 William Roberts, Dr. 
 
 300 ff Flour, @ $3.60 per C . . 
 
 \5Qff Potetoes, li^ 
 
 Cr. 
 Cash, on ^ 
 
 6. 
 
 Calvin Webster, Dr. 
 
 300 Centals Wheat, @ $1.60 
 
 Cr. 
 Note, at 30 ds 
 
 7. 
 
 Frank Whitby, Dr. 
 Groceries, to date 
 
 8. 
 
 Calvin Webster, Cr. 
 Cash, on ^ 
 
 9. 
 
 William Roberts, Dr. 
 140 ;K Sugar, @ 11^^ 
 
 10. 
 
 Nathan Frank, Dr. 
 Accepted his draft, at 10 ds, 
 
 19 
 
 20 
 
 20 
 20 
 
 20 
 20 
 
 20 
 20 
 
 20 
 
 20 
 20 
 
 20 
 20 
 
 20 
 
 20 
 
 20 
 
 85050 
 750 
 
 255 
 120 
 
 20 
 4501 
 
 1050 
 
 25 
 
 160050 
 150 
 
 150 
 
 37& 
 
 2450 
 626 
 
 50 
 
 1275 
 5 
 
 480 
 300 
 
 4250 
 
 50 
 
 1610 
 
 100 
 
8nl.] 
 
 LEDGER. 
 FRANK WHITBY, 
 
 1883 
 Aug 
 
 ToN. Fnmk 
 OrooeriM 
 Net Cap. 
 
 150 
 
 4250 
 
 146985 
 
 1062 U 
 
 18831 
 Aug 
 
 /* 
 
 By Invt. .... 
 Nei Oain. 
 
 10 
 
 160050 
 61 85 
 
 IfATHAN FRANK, 
 
 1883 
 Aug 
 
 ToCbrfj 
 
 Aooeptanoe, 10 da. 
 
 18831 
 Aag 
 
 By Balance 
 
 IQ 
 
 150 
 
 Iso 
 
 FRANK MERRILL. 
 
 1883 
 
 A;^ 
 
 2 To Mdae. 
 
 ■Iigl l ^jp^i iBy 
 
 Balance. 
 
 S76 
 
 E88IE SMITE. 
 
 1883 
 Aug 
 
 J£ 
 
 To MdMi.. 
 Baltmce 
 
 19 
 
 24 50 
 
 1883 
 6125 Ang 
 1SS6 
 
 3 By Mdae. 
 
 IS 
 
 24^ 
 
 2450 
 
 WILLIAM ROBERTS. 
 
 6 To Mdae. 
 9 
 
 1883 
 12t75lAug 
 
 16 
 
 By Caah... 
 Balance 
 
 19 
 
 85 
 
 2885 
 
 CALVIN WEBSTER. 
 
 1883 
 Ang 
 
 6 To Mdae. 
 
 19 
 
 480 
 
 
 1883 
 Aug 
 
 480 
 
 
 By Note, 30 da. 
 
 Caah 
 
 Balance .... 
 
 19 
 
 300 
 
 19 
 
 50 
 
 
 ISO 
 480 
 
 20 
 
S«T 1.] 
 
 CASH BOOK, 
 
 [Single Page Form.] 
 
 1883 
 
 Amt. on hand 
 
 Paid N. Frank on <% 
 
 Rec'd of Wm. Roberts on ojfc . . 
 
 " •' Calvin Webster on <% 
 
 Balance 
 
 850501 
 
 5 
 50 
 
 90550 
 
 50, 
 
 85550 
 
 90550 
 
 BALANCE SHEET (or Statement). 
 
 Dr. Cb. 
 
 Frank Merrill 
 
 Essie Smith 
 
 Wm. Roberts 
 
 Calvin Webster 
 
 Cash 
 
 Bills Receivable. (See B. B., on pp. 22 and 23) 
 Bills Payable. (See B. B., on pp. 22 and 23) . . 
 
 Mdse. on hand, as per Invt., Aug. 12 
 
 Present Worth (or Net Cap.)'. , . 
 
 375 
 
 2385 
 
 85550 
 
 130 
 855 
 300 
 
 275 
 
 1825 
 
 100 
 
 1469 SS 
 1588 101 1588 10 
 
 Another form for a Statement is the following : — 
 
 BALANCE SHEET (or Statement), 
 
 Resources. 
 
 Frank Merrill 
 
 Wm. Roberts 
 
 Calvin Webster 
 
 Cash 
 
 Bills Receivable 
 
 Inventory of Mdse. on hand. 
 
 Liabilities. 
 31751 Essie Smith 
 2386 BUls Payable 
 130 F. Whitby's Net Investment. 
 855501 Net Gain, 
 
 300 
 275 
 1588 10 
 
 1825 
 100 
 1408 
 6185 
 
 158810 
 
 Note.— Some book-keepers do uot enter the proprietor's accouut in the Day Book and Ledger, bat 
 keep a Memorandam Book, in which a statement showing the condition of busineM at oommencios, 
 is made. Agreements, contracts, etc., are also entered in this book. 
 
 21 
 
BILL 
 BILLS 
 
 CASH 
 CASH RECEIVED. 
 
 [Set 
 
 9m. 
 
 WlMB 
 
 PATSm. 
 
 Patib. 
 
 Date of 
 Note. 
 
 Time to 
 Run. 
 
 1 
 
 1883 
 
 fl 
 
 QjTiB W«baier 
 
 Frank Whitby 
 
 1883 
 Aug 
 
 6 
 
 90 d«. 
 
 
 
 
 
 BILLS 
 
 
 
 [Sit 
 
 9m, 
 
 WbtB 
 
 laoed. 
 
 Patbe. 
 
 Patbb. 
 
 Data of 
 
 Time to 
 Bud. 
 
 1 
 
 1883 
 Aag 
 
 10 
 
 Frank Whitby 
 
 Nathan Frank 
 
 1883 
 Aug 
 
 10 
 
 10 da. 
 
 [Double 
 [Set 
 
 18831 
 Aug 
 
 Amt invoatad by Frank Whitby 
 
 Rac'd of Wm. Roberta, on oj^ ... 
 
 •* ** OilTin Webster, on ^ . 
 
 850 6C 
 
 5 
 
 50 
 
 90550 
 
 90550 
 
 BILL 
 BILLS 
 
 [Set 
 
 Bec'd. 
 
 lan. 
 
 Patsb. 
 
 Patcb. 
 
 Date of 
 Note. 
 
 Time to 
 Rao. 
 
 Febi 
 
 12 
 
 Geo. & Wella 
 Cornelia Walker 
 
 Sage ft Co. 
 Sage & Co. 
 
 Jan. 25 
 
 Feb. 
 
 12 
 
 30 dB. 
 30 ds. 
 
 
 
 
 BILLS 
 
 
 
 [Set 
 
 Mtt. 
 
 WbM 
 
 Patbb. 
 
 Patbb. 
 
 Date of 
 Note. 
 
 Timet© 
 Run. 
 
 1 
 
 1883 
 Fab. 
 
 1 
 
 Sage &Gow 
 
 Edward Thomas 
 
 1883 
 Feb. 
 
 1 
 
 eo da. 
 
1.] 
 
 BOOK. 
 RECEIVABLE. 
 
 
 WHEN DUE. 
 
 Amt. 
 
 
 Where Payable. 
 
 j 
 
 
 i 
 
 
 i 
 
 i 
 
 ■-a 
 
 
 _< 
 
 i 
 
 5 
 
 1 
 
 i 
 
 1 
 
 REHABKS. 
 
 San Francisco 
 
 
 300 
 
 
 1.] 
 
 
 
 
 
 
 
 PArAJSXjE?. 
 
 
 
 
 WHEN DUE. 
 
 Amt. 
 
 
 Where Payable. 
 
 1 
 
 1 
 
 1 
 
 1 
 
 5? 
 
 9 
 
 1 
 
 i 
 
 
 1 
 
 1 
 
 RKMABKS. 
 
 San Francisco 
 
 
 100 
 
 
 
 Page.] 
 
 1.] 
 
 BOOK. 
 CASH PAID OUT. 
 
 18831 
 Aug 
 
 Paid Nathan Frank, on <% 
 
 Balance on hand^. . 
 
 50 
 
 85550 
 
 90550 
 
 2.] 
 
 BOOK. 
 RECEIVABLE. 
 
 
 WHEN DUE. 
 
 Amt 
 
 
 Where Payable. 
 
 s 
 
 1 
 
 14 
 
 t 
 
 
 s 
 
 j5. 
 
 s 
 ■< 
 
 1 
 
 1 
 
 § 
 ^ 
 
 1 
 
 REMARKS. 
 
 3an Jose 
 San Jose 
 
 
 24 
 
 
 150 i 
 
 Discounted, Feb. 15. 
 Received, Feb. 19, $20 
 
 2.] 
 
 PAYABLE. 
 
 
 WHEN DUE. 
 
 
 ~ 
 
 
 Where Payable. 
 
 
 .a 
 
 
 r 
 
 a. 
 
 •< 
 
 2 
 
 S" 
 
 ^ 
 
 s 
 
 
 9 
 
 1 
 
 1 
 
 9? 
 
 1 
 
 Amt. 
 
 REMARKS. 
 
 8an JoM 
 
 
 
 
 
 100 
 
 
 
 23 
 
INSTRUCTIONS FOR OPENING AND CLOSING A 
 SET OF SINGLE ENTRY BOOKS. 
 
 For Opening a Set of Books. Credit the proprietor in the 
 Day Book, or Memorandum Book, with his Resources, and 
 debit him with his Liabilities. If it is a partnership business, 
 credit and debit each partner in a similar manner. 
 
 Take an inventory of all property on hand, classify it, and 
 enter each class of property in its proper book; cash, in the 
 Cash Book or Bank Book; notes, in the Bill Book; Mdse., in 
 the Invoice Book or Memorandum Book; etc., etc. In a part- 
 nership business an agreement should be carefully prepared and 
 signed, and recorded in the Memorandum Book. 
 
 For Clofdng a Set of Books. Prepare a '^form^ for a state- 
 ment — see page 21. Close each Ledger account, except the 
 proprietor's, and carry the l)alance to its proper place in the 
 Statement Close the Cash Book and carry its balance to the 
 Statement Examine the Bill Book and ascertain the amounts 
 still due on Notes, Drafts, etc., and enter these amounts in the 
 Statement Take an Inventory of Mdse. on hand, and all 
 other property not accounted for in the Books, and enter these 
 Inventories in the Statement 
 
 One side of the Statemeiit will now show all the Resources, 
 and the other side all of the Liabilities of the business. By 
 dosing this statement into the proprietor's account, or by clos- 
 ing the proprietor's account into this Statement, the loss or 
 gain may be ascertained. (For examples of Statements, see 
 page 21.) 
 
 Proof-Skeet If you post only from the Day Book, the sum 
 of the debit and credit footings of the several Ledger accounts, 
 should equal the total footings of the Day Book. Make the 
 proof-sheet before the accounts are closed. 
 
 Net Capital or Net Insolvency. Find the Net Capital or the 
 Net Insolvency, — ^by taking the difference between the Resources 
 and the Liabilities. 
 
 Net Gain or Loss. Find the Gain or Loss,— by taking the 
 difference between the Net Capital at commencing and the Net 
 Capital at closing. 
 
 34 
 
suaaESTioNs and reviews. 
 
 Why is a Day Book kept? What kind of transactions are 
 entered in the Day Book? When are cash items entered in the 
 Day Book ? How are, in the Day Book, the debits distinguished 
 from the credits? (See pp. 17 and 19.) Why are the Day Book 
 entries transferred to the Ledger ? What is this process of trans- 
 ferring called ? Draw a Day Book form on the board, and write, 
 at the upper left-hand comer of form, a number to represent 
 this particular page of the Day Book. Draw a Ledger form on 
 the board, and write, at the upper left-hand comer of form, a 
 number to represent this particular page of the Ledger. Point 
 out, on the board, the two sides of a Ledger account. What is 
 the left-hand division called T Why ? What use is made of the 
 column on the left side of each of the two right-hand columns? 
 What use is made of the two columns on the left side of each 
 division of a Ledger account? Head the Ledger form on the 
 board, using your own name. 
 
 Head the Day Book form on the board, using the name of 
 the place or district, where your school is located, and yester- 
 day's date. Prepare an example of selling to (use your own 
 name), on ac(ft, and make it the first entry in the Day Book 
 form on the board. Another, of buying of (use your own name 
 and the date of to-day), mi acc'tj and make it the second entry 
 in the Day Book form on the board. Post the first entry, using 
 the Ledger form on the board; and be careful not to forget to 
 enter, immediately after the posting, the Ledger page in the 
 Day Book, and the Day-Book page in the Ledger. Post the 
 second entry, and attend to the pages, as directed. Close the 
 Ledger account on the board. Point out the footing line; the 
 closing line. Which of these are single; which double lines? 
 Where, and how far, should the former extend? f Across the 
 money columns^ and on the lowest of the ruled lines on which either 
 an item has been posted, or a balance entry made.) Where, and 
 how far, should closing lines extend ? ( Under the ruled line next 
 to the footing line; and across each of the two date, folio, and 
 money columns.) Prepare an example of seUing to (use the name 
 of a student), on acc't, and of receiving at the time, a part pay- 
 ment by cash or note. Make this entry in the Day Book form 
 on the board. (See p. 19, entries of Aug. 5th and 6th.) 
 
 25 
 
MODEL SET 11. 
 
 [This Set iUustrates the use of the Sales Book and Invoice Book as prin- 
 eipal books. (See p. 7; No. 10.) Accounts, in the Sales Book and Invoice 
 Book, whioh, ordinarily, ought to be entered on the Day Book, to be thence 
 transferred to the Ledger, are. in this Set, directly posted from these, othor- 
 wise, anxiliarv books: tnereov obviating the necessitv of entering these 
 aeeoonts in tne Day Book. Merchants, however, in order to post from the 
 Day Book oniy, generally prefer to enter on this book all accounts that would 
 have to appear uiere in ease a Sales liook and an Invoice Book were not kept. 
 Studenta, therefore, should be required to write the Day Book of this Set, 
 additionallv, in that full form which shows all accounts that must be trans- 
 farred to t)xe Ledger.] 
 
 San Jose, Feb. 1, 1883. Sage & Co. commenced business as 
 follows : 
 
 Resources. Mdse.^ $1500; (In actual business an Invt. of 
 Mdse. would be entered in the I. B., or the M. B.) C'cwA, 
 $800; a note, dated Jan. 25, 1883, at 30 ds., for $150, against 
 Geo. S. WeUs; F. M. Righter owes this firm $120, on (f:. 
 
 lAMlities. D. T. Bateman has an acc't against the firm 
 for $75; Edward Thomas holds their note, dated Feb. 1, 1883, 
 at 60 ds., for $100. 
 
 Current Items. Feb. 2. Bo't of Pacific Mf g Co., for cash, 10 
 hair mattresses, (^ $12; 20 cane-bottom chairs, @ $2.10. 3 
 Sold H. B. Norton, on <jfc, 1 extension dining table, $18; 6 gothic 
 chairs, @ $3.50. 4. Paid cash for coal for the store, $12.50. 5. 
 Rec'd cash for petty sales, $21.10. 6. Sold D. E. BushneU, 4 
 library chairs, @ $4.50; 1 office desk, $22.50; Rec'd cash, $20,— 
 Bal. on ojc. 7. Bo't of Pacific Mfg Co., on ojc, 24 wash-stands, 
 ^ $4; 12 rosewood center tables, @ $18. 9. Sold Geo. S. 
 WeUs, on <^, 1 mahogany sofa, $30. 10. Rec'd cash, on % 
 of F. M. Righter, $50. 11. Sold D. T. Bateman, on ajc, 1 single 
 bedstead, $6; 1 "Sleepy HoUow'» chair, $10. 12. Sold Cornelia 
 Walker, on note at 30 ds., 1 easy rocker, $16; 1 library book- 
 case, $40; 3 parlor chairs, @ $6. 13. Paid cash for incidentals, 
 $10.25. 15. Discounted Wells^s note of Jan. 25th, at Bank of 
 San Jose, and received a draft on San Francisco for $145. 
 Sent the draft to Pacific Mfg Co., to be credited on our acc't. 
 16. Paid $75 for rent. 17. Rec'd cash, on % of F. M. Righter, 
 $25. 18. Sold H. B. Norton, on % 1 piano stool, $8; 8 dining 
 chairs, @ $1.75. 19. Rec'd $20 of Cornelia Walker, to be credited 
 on her note. 20. Took an inventory and find Mdse. on hand, 
 $1810.20. 
 
 V«TB.— Tk« NoCm BMOtioned in thk Set an in the Bill Book on p«CM 22 ftiid 23. 
 
 26 
 
DAY BOOK. 
 
 (Accounts are posted directly from Sales Book and Invoice Book. ) 
 Sit 2.] SAN JOSE, February 1, 188S. 
 
 28 
 
 28 
 
 29 
 
 29 
 
 29 
 
 Sage & Co., 
 
 Investment, M. B. 
 
 Liabilities. M. B. 
 
 Dr. 
 
 F. M. RiOHTBR, 
 
 Amt. due the firm 
 
 D. T. Batkman, 
 Bal. due him 
 
 10. 
 
 F. M. RiOHTER, 
 
 Cash, on <% . 
 
 15. 
 
 Pacific Mf'o Co., 
 Draft 
 
 17. 
 
 F. M. RiOHTER, 
 
 Cash, on ofa . 
 
 Cr. 
 
 Dr. 
 
 Cr. 
 
 Cr. 
 
 Dr. 
 
 Cr. 
 
 WO 
 175 
 
 120 
 
 75 
 
 50 
 
 145 
 
 3160 
 
 Sit 2.] 
 
 INVOICE BOOK. 
 
 SAN JOSE, February f, 1883. 
 
 30 
 
 29 
 
 Pacific Mf'o Co., 
 10 Hair Mattresses, 
 20 Cane Bottom Chairs, 
 Cash. 
 
 7. 
 
 Pacific Mf'o Co., 
 24 Wash-stands, 
 12 Rosewood Center Tables, 
 On ojc. 
 
 27 
 
 San Francisco. 
 
 @ $12 
 
 2.10 
 
 San Francisco. 
 
 @$4 
 
 18 
 
 120 
 
 42 
 
 96 
 216 
 
 162 
 
 312 
 
 474 
 
8sr 
 
 2.] 
 
 SALES BOOK. 
 
 SAN JOSE, February i, J88S. 
 
 B.B. 
 
 H. & Norton, Wright's SUtion. 
 
 1 Elxtenaion Dining Table 
 
 6 Gothic Chain. @ $3.50 
 
 On Of,, 
 
 D. £. BUSHNBLL, 
 
 4 Library Chain, 
 
 1 Office Deak 
 
 R«c'd Cash, on <^, $20. 
 
 Gko. S. Wsllb, 
 1 Mahogany Sofa 
 On % 
 
 San Jose. 
 m K60 
 
 Mt. View. 
 
 11. 
 
 D. T. Batemak, 
 
 1 Single Bedstead 
 
 1 "Sleepy Hollow *" Chair 
 On Of,, 
 
 Dixon. 
 
 12. 
 
 CO&NKUA WaLKBB, 
 
 I Easy Rocker 
 
 1 Library Book -case 
 3 Parlor Chain, 
 Note at 30 ds. 
 
 H. B. Norton, 
 
 1 Piano Stool. . . 
 
 8 Dining Chairs, 
 
 On <^. 
 
 San Jose. 
 
 @|6. 
 
 18. 
 
 Wright's SUtion. 
 @ $L75 
 
 18 
 21 
 
 18 
 22501 
 
 6 
 10 
 
 16 
 40 
 18 
 
 40160 
 
 16 
 
 74 
 
 22 
 
 221 
 
 50 
 
 S«t2.] 
 
 LEDGEE. 
 8A0E & CO. 
 
 1883 
 Feh 
 
 20 
 
 To Liabilities , 
 
 Net Loss 
 
 Bed. (PrtmU N«t Cap. 
 
 27 
 
 175 
 2395 
 
 fSTlOS 
 2570 
 
 18831 
 Feb 
 
 By Inrt. 
 
 .27 
 
 2570 
 
 2570 
 
 28 
 
LEDGER. 
 F. M. RIOHTER. 
 
 1883 
 Feb. 
 
 To Bal. due 
 
 27 
 
 120 
 
 120 
 
 1883 
 FebJlOi 
 17 
 
 \£0 
 
 By Cash... 
 << 
 
 BcUance, 
 
 50 
 25 
 
 45 
 
 120 
 
 D. T. BATEMAN. 
 
 18831 
 Feb. 
 
 90 
 
 To Mdse... 
 Baiance 
 
 281 
 
 76 
 
 1883 
 Feb. 
 
 By Bal. due. 
 
 27 
 
 75 
 
 75 
 
 PACIFIC MF'Q CO. 
 
 1883 
 Febcl5 
 
 M 
 
 To Draft... 
 Balance 
 
 27 
 
 145 
 
 /67 
 
 312 
 
 1883 
 Feb, 
 
 By Mdse 27 
 
 312 
 
 312 
 
 H. B, NORTON. 
 
 1883 
 Feb. 
 
 To Mdse. 
 
 28 
 
 61 
 
 1883 
 
 Feb. S0\ By Balance . 
 
 6t 
 
 61 
 
 D. E. BU8HNELL. 
 
 Feb. 
 
 6 To Mdse 28 
 
 1883 
 40|50 Feb, 
 
 20 
 
 ejBy Cash... 
 Balance 
 
 28 
 
 20 
 go 50 
 
 GEO. 8. WELLS. 
 
 18831 
 Feb. 
 
 9 To Mdse. 
 
 1883 
 
 Feb. SC\ By Balance , 
 
 SO 
 30' 
 
 29 
 
tor 2.] 
 
 CASH BOOK. 
 
 Dk. Ck. 
 
 Feb 
 
 Amt on hand 
 
 paid Pacific Mfg Co. 
 
 •• for CoaL 
 
 r«cM for Petty Sales 
 
 " from D. E, Buahnell 
 
 *' F. M. Righter 
 
 paid for Incidentals 
 
 *• ** Rent of Store , 
 
 rec'd from F. M. Righter 
 
 •• Cornelia Walker, on Note 
 Baiamee 
 
 800 
 
 936 
 
 10 
 
 10 
 
 162 
 
 75 
 
 676 36 
 
 93610 
 
 1250 
 
 1025 
 
 Swt 2.] 
 
 STATEMENT. 
 
 RxsouBcn. 
 
 Personal Accounts (Ledger) 
 Bills Receivable (B. B.) . . . . 
 
 Cash(C.B.) 
 
 Mdse. (Inventory) 
 
 15650 
 54 
 
 67635 
 181020 
 
 269705 
 
 LlABILITIKS. 
 
 Personal Accounts (Ledger). . 
 
 BUU Payable (B. B.) 
 
 Sage k Go's Present Net Cap. 
 
 226 
 
 100 
 
 ^S71 
 
 2607 
 
 05 
 
 06 
 
 8k« a Co*i Net InTMtment, - 12396 
 
 " Prwent Net Capful, 2371.06 
 •• Net Loa. 23.96 
 
 S«T 2.] 
 
 Dr. 
 
 PROOF-SHEET. 
 
 Cb. 
 
 175 
 120 
 16 
 145 
 61 
 40 
 30 
 
 587 
 
 50 
 
 50 
 
 .Sage ACo 
 
 .F. M. Righter 
 
 D. T. Bateman 
 
 .Pacific Mfg Co.... 
 
 .H. B. Norton 
 
 .D. E. Bushnell 
 
 .Geo. S. Wells 
 
 .Bills Receivable (B. 
 
 B.). 
 
 ToUd Debits, f 587.60 
 " CrediU, 3106 
 
 S3693.50 
 
 Total Day B., - t3160 
 
 " Sale* B., - - 221.80 
 
 " Invoice B., on acc't , 312 
 
 $3693.50 
 
 12570 
 
 75 
 
 75 
 
 312 
 
 20 
 
 54 
 
 3106 
 
COMMERCIAL TERMS. 
 
 Acceptance. The formal receiving of the terms of a draft or bill, 
 by which the acceptor binds himself to pay it when due. It 
 is signified by the acceptor writing across the face of the 
 bill the word " Accepted," and the date, and signing his name. 
 The name of the bill after it has been accepted. 
 
 Account Current. A statement in detail of a running account. 
 
 Ad Valorem. According to value at the cost, or invoice price. 
 
 Advice. Mercantile information. 
 
 Appraisement. The act of setting a value upon property. 
 
 Auditor. A person appointed to examine accounts. 
 
 Average. A medium time for the payment in one sum of 
 several items due at different times, so that neither party 
 shall lose interest. An assessment proportioned upon a vessel 
 or cargo to meet losses at sea. 
 
 Balance. To close an account. Difference between the debits 
 
 and credits. 
 Balance Sheet. A statement in condensed form showing the 
 
 condition and progress of business. 
 
 Balance of Trade. The difference between the value of the 
 exports and imports of a country. 
 
 Bankrupt. One who is unable to pay his debts. An insolvent. 
 
 Bill-head. A printed form used by merchants for their bills 
 
 and rendered accounts. 
 Bill of Entry. A list of goods entered at the Oustom-House. 
 Capital. The money or property used to carry on a business. 
 
 Clearing-House. The place where balances between banks or 
 
 business houses are adjusted. 
 Clerical Error. An error in calculation, or other accidental 
 
 error on books or documents. 
 
 Collaterals. Pledges or security for loans of money or other 
 indebtedness. 
 
 Consignee. The party to whom goods are sent to be sold. 
 Consignment. Goods sent or delivered to a consignee, for sale. 
 Contra. Against; on the other side. 
 
 31 
 
COMMERCIAL TERMS. 
 
 Counter Entry. An entry made to balance one on the oppo- 
 site side. 
 
 Customs. Taxes or revenue duties levied on goods imported. 
 
 Bays of Grace. The time usually allowed beyond the expressed 
 time for the payment of negotiable paper. This tiino varies 
 in different countries. Days of Grace are not allowed ou the 
 Pacific Coast of the United States, except on sight drafts in 
 Oregon. 
 
 DiTidend. Gain to be divided among stockholders 
 
 Drawee. The person on whom the bill is drawn. 
 
 Drawer. The party making the draft, or requesting that the 
 payment be made. 
 
 Dnty. Customs. 
 
 Endorse. To write one's name on the back of a note or bill. 
 
 Entry. A record made in an account book. 
 
 Exhibit. A transcript of Ledger balances. A written state- 
 ment of the affairs of a merchant. 
 
 Face. The amount for which a note or bill is drawn. 
 
 Favor. A term for a letter received. A note is drawn m 
 favor of the person to whom it is made payable. 
 
 Guarantee. A promise to indemnify against loss. 
 
 Gross Weight. The total weight of goods with boxes, bags, 
 or chests in which they are packed. 
 
 Hypothecate. To pledge as security. 
 
 Import. To bring goods from another country in the trans- 
 action of commerce. 
 
 Insolvent. Without means tx) pay one's debts. 
 
 Index. An alphabetical table of Ledger accounts. 
 
 Installment. The part of an amount to be paid at a particular 
 time. 
 
 Jettison or Jetsam. Goods thrown overboard to lighten a ship 
 in a storm. 
 
 License. A legal permit to do business. 
 
 Liquidation. The act of paying or settling indebtedness. 
 
 32 
 
COMMERCIAL TERMS. 
 
 Manifest. A list of the packages of a cargo, with the marks 
 on them, and the name of the person to whom sent. 
 
 Maturity. The time when a note or bill falls due. 
 
 Maximum Price. The highest price of an article. 
 
 Negotiate. To dispose of; to bargain. 
 
 Net Proceeds. The amount received from sales after all charges 
 have been deducted. 
 
 Notary Public. An officer who attests contracts, or writings 
 
 of any kind. 
 Open Account. A running or unsettled account. 
 Par. Equal. The first or nominal value. 
 Payee. The person to whom money is paid. 
 
 Port of Entry. A harbor where a Custom-House is established 
 for the collection of import duties. 
 
 Power of Attorney. A writing which gives one authority to 
 act for another. 
 
 Premium. Excess above par. The price paid for insurance 
 Banker's charge for bills. 
 
 Pro Rata. A proportional distribution. 
 
 Protest. A legal notification that a bill was not accepted 
 when presented, or that a note or bill was not paid when 
 due. 
 
 Rebate. Discount. A deduction for prompt payment. 
 
 Remittance. Funds sent from one place to another. 
 
 Sight. The time when a note or bill is presented for pay- 
 ment. 
 
 Solvent. Sound; able to pay. 
 
 Specie. Gold, silver, or copper coin used as a circulating 
 medium of commerce. 
 
 Tare. An allowance for the weight of the box, barrel, etc., 
 which contains the goods. 
 
 Voucher. A person or document serving as evidence. 
 
 Way-Bill. A document containing a list and description of 
 goods sent by a common carrier by land. 
 
BUSINESS PAPER. 
 
 Negotiable Paper is any form of business paper that can be 
 transferred from one person to another for a valuable consider- 
 ation^ either by endorsement or assignment. There are several 
 classes of negotiable paper, the most important of which, are 
 BiUs of Exchange, Bank Notes, Promissory Notes, Certificates 
 of Deposit, Checks, Bonds, Bills of Lading, Letters of Credit, 
 and Due-Bills. 
 
 Non-negotiable Paper is that which is made payable m a 
 person therein named, without authority to transfer to a third 
 party. 
 
 Negotiability. Bearer or order are the words usually used 
 to express negotiability, but any words in a legal instrument 
 by which it can be inferred that it is intended to be nego- 
 tiable will make it transferable. When payable to hearer the 
 paper may be transferred without endorsement; but when pay- 
 able to order it requires the payee's signature before it can 
 be transferred. 
 
 A Promissory Note is a written or print€<l promise by one 
 party to another, to pay a specified sum of money at a certain 
 time, with or without interest. The original parties are called 
 the maker and the paye^. 
 
 The Several Kinds of promissory notes are called Individual, 
 Joint, Joint and Several, Chattel, and Bank Notes. In the indi- 
 vidual note, but one person makes the promise to pay. In the 
 joint note, the promise is made jointly by two or more persons. 
 In the joint and several note, each signer assumes the whole 
 responsibility. 
 
 BUSINESS FORMS. 
 NOTES. 
 
 1. INDIVIDUAL. 
 
 $1200^. Vallejo, May 15, 1883. 
 
 Sixty days after date, I promise to pay to C. B. Towle or 
 order, One Thousand Two Hundred Dollars, in U. S. gold coin, 
 ▼alue received. 
 
 W. T. Wallace. 
 34 
 
BUSINESS FORMS. 
 
 2. IN1>IVII>UAI>, WITH INTEREST. 
 
 $5007%. SuisuN City, June 3, 1883. 
 
 One year after date, I promise to pay to William Wolf or 
 bearer, Five Hundred Dollars, value received, with interest at 
 the rate of one per cent, per month. 
 
 Moses Frank. 
 
 S. JODIT AND SEV£RAX. 
 
 $300/^. Sacramento, Aug. 8, 1883. 
 
 Three years from date, we jointly and severally promise to 
 pay to Henry Edgerton, Three Hundred Dollars, in U. S. gold 
 coin, value received, with interest at seven per cent, per annum. 
 
 Henry Martin, 
 Charles Jones. 
 
 4. JOINT. 
 
 $10()0TVff- San Jose, Sept. 8, 1883. 
 
 Ninety days after date, we promise to pay to T. E. Kennedy 
 
 or order, at the Bank of San Jose, One Thousand Dollars, value 
 
 received. 
 
 C. W. Childs, 
 J. G. Kennedy. 
 
 s. payable by installments. 
 
 $2mO^%%. Los Angeles, Jan. 5, 1883. 
 
 Six months after date, 1 promise to pay to Widney & Co. 
 or order, at their store in the city of Los Angeles, value 
 received, Two Thousand Dollars, with interest at one per cent, 
 per month, reserving the right t« make partial payments, in 
 sums not less than Ten Dollars. 
 
 Henry Blank. 
 
 «. chattel. 
 
 Santa Cruz, Nov. 15, 1883. 
 Three months from date, for value received, I promise to 
 pay to George Bennett or order. Four Hundred Dollars, in Red- 
 wood Lumber, the same to be dehvered as per his order, 
 within the limits of the city of Santa Cruz, and valued at the 
 market rate prevailing at the date of delivery. 
 
 Charles Allen. 
 
BUSINESS FORMS. 
 
 7. BUiNK PRINTED FORM. 
 
 $ San Jose 
 
 after date, promise to pay to 
 
 or order, the sum of 
 
 payable in gold coin of the United States, with interest thereon 
 
 in like gold coin at the rate of from 
 
 date until paid, value received. 
 
 Vvtu. — All of theM uoUt are negotiabl* except No. 3. Wben imlerml ia not mentioned, the note 
 will draw iatamt, at the cnatomAry rate, after it i« due. 
 
 EXCHANGE. 
 
 Exchange is a term employed to denote that commercial 
 usage, by which merchants and others avoid the risk and ex- 
 pense of sending money to make payments in distant places, 
 by transmitting Drafts or BiUs of Exchange. 
 
 A Bill of Exchange, or Draft, is a written order, directed 
 to a person in a distant place, for the payment of a specified 
 sum of money at a specified time. There are two classes of 
 Exchange — foreign^ and inland or domestic. 
 
 Inland Bills of Exchange are such as are both drawn and 
 paid in the same state or country. 
 
 Foreign Bills of Exchange are drawn upon persons living 
 in another state or country. They are usually drawn in sets 
 of three, one of which being honored, the others become void. 
 The separate bills are sent by different routes, or at different 
 times, in order to insure a certainty, that at least one shall be 
 received. 
 
 8. TOfCE DRAFT. 
 
 $125^. Marysville, Dec. 10, 1883. 
 
 Sixty days after date pay to Dudley C. Stone or order. 
 One Hundred and Twenty-five Dollars, value received, and 
 charge to account of 
 
 RoBT. Strong. 
 To F. A. Campbell, 
 
 San Francisco. 
 
 M 
 
BUSINESS FORMS. 
 
 9. SIGHT DRAFT. 
 
 $20(VW- San Francisco, Feb. 12, 1883. 
 
 At sight, pay to J. L. Mosher or order, Two Hundred Dol- 
 lars, value received, and charge to account of 
 
 Albert Leyser. 
 
 10. FOREIGN DRAFT. 
 
 Exchange for £500. San Francisco, July 5, 1883. 
 
 Ten days after sight of this my first Bill of Exchange, 
 (second and third of same date and tenor unpaid,) pay to John 
 Adams or order, Five Hundred Pounds Sterling, value received, 
 with or without further advice. 
 
 Wm. Chipman. 
 To Pedbody & Co,, 
 
 BankerSj Liverpool. 
 
 KoTK.— In form 8, Robt. Strong is the drtaoer, Dudley C. Stone the poigt, and F. A. Campbell the 
 drawee. Campbell is not a )>arty to this draft until he accepts; which consists in writing across the 
 face of the draft, in red ink, the word aeeepUd, and the dajr of the month and year, placing hk 
 •ignature oitdenieath : AeeepUd Dte, 6, 1883. F. A. OantpML 
 
 DUE-BILL. 
 
 A Due-Bill is a written acknowledgment of a debt. It is 
 usually given instead of a note, when a debt is to be paid in 
 a short time. 
 
 11. 
 
 $25^. Colusa, May 10, 1883. 
 
 Due Greo. P. Ahlf or order, ten days from date, Twenty- 
 five Dollars, value received. 
 
 James G. Beaty. 
 
 13. 
 
 $403<\fiy. San Jose, Aug. 10, 1883. 
 
 Due Frank Butts, on demand, Forty Dollars. 
 
 John Sullivan. 
 
 13. 
 
 $75V\fe. Modesto, Sept. 15, 1883. 
 
 Due to C. P. Evans, Seventy-five Dollars in goods from my 
 store. 
 
 Fred A. Hazzabd 
 rt 
 
BUSINESS FORMS. 
 BANK CHECKS. 
 
 A Check is an order on a Bank to pay money on demand. 
 Checks are usually printed in blank and filled up as they are 
 required. A certified check is one that has been presented to a 
 bank and certified, that is, accepted. This is done by the 
 "Teller," who writes across the face "Certified" and his sig- 
 nature. 
 
 14. 
 
 Jl 
 
 No. 45, San Jose, Aug, 5, 188S. 
 
 The Bank op San Jose, 
 
 n 
 
 Pay to J. H, Braly, or Bearer, 
 
 tF 
 
 Two Hundred and Fifty rrrrrrryrr^rrrrr:. hoiUrs. 
 
 
 ^50,^ Ruth Royce. 
 
 CERTIFICATE OF DEPOSIT. 
 
 A Certificate of Deposit is an instrument issued by a bank, 
 and certifies that a person mentioned therein, has deposited a 
 certain sum of money, payable to his order upon the surrender 
 of the certificate, properly endorsed. In nature it is the sam* 
 as a certified check. 
 
 15. 
 
 $ San Jose, 
 
 Comaiercial Bank, 
 
 has deposited in this Bank 
 
 DoUars, 
 
 payable to the Order of 
 
 on the return of this Certificate properly endorsed. 
 
 No Cashier. 
 
 38 
 
BUSINESS FORMS. 
 BILL OF LADING. 
 
 A Bill of Lading is an instminent signed by the proper officer 
 of a vessel, acknowledging the receipt of certain packages or 
 quantities of goods, and promising under certain exceptions, to 
 deliver the same "in like good order," at the place directed. 
 
 LETTER OF CREDIT. 
 
 A Letter of Credit is a letter authorizing credit to a certain 
 amount of money to be given to the bearer. 
 
 16. A LETTER OF CREDIT. 
 
 San Jose, July 10, 1883. 
 Messrs. C. H. Strong & Co., 
 
 London, England. 
 Oentlemenj 
 
 We have the pleasure of introducing to you Mr. 
 Henry C. Clayton, who desires us to open a credit with you, 
 for him, for six hundred pounds sterling. You will please 
 honor his drafts to an amount not exceeding in the aggregate 
 the above sum, and charge the same to us. 
 
 Very truly. 
 Signature of T. E. Beans. 
 
 Henry A. Clayton. 
 
 ENDORSEMENTS. 
 
 Endorsement. Anything written on the back of negotiable 
 paper, having relation to the paper itself, is an endorsement. 
 The endorsement is generally made for the purpose of trans- 
 ferring the right of tiie holder to some other person. 
 
 There are five kinds, called the Blank, Full, Conditional, 
 Qualified, and Restrictive. A blank endorsement is made by the 
 holder's simply writing his name on the back of the paper. An 
 endorsement in full mentions the name of the person iu whose 
 favor it is made. A conditional endorsement is one made sub- 
 ject to some condition which must be performed to render the 
 instrument valid. A qualified endorsement is one in which the 
 
 39 
 
 UNIVi:H. 
 
 
BUSINESS FORMS. 
 
 endorser can qualify or limit his responsibility by the terms of 
 the endorsement. A restrictive endorsement is one which re- 
 stricts the payment to some particular person. As no particular 
 form of words is necessary in the construction of negotiable paper, 
 80 no particular, form is necessary for its endorsement. But 
 custom has established certain forms which are in use among 
 business men. Following are the usual forms of endorsement: 
 
 Blank: 
 
 O. B. Kleeherger. 
 
 In FnU: 
 
 Pay to J. E. Braly or order, 
 
 Eliza B. Barnes. 
 
 Qnalifled, 1st Form: 
 
 Fay to J. E. Ellwood or order^ 
 without recourse. 
 
 M. E. WiUon. 
 
 Qualified, 2d Form: 
 
 ' Pay to Mary P. Adams or order. 
 
 L. P. Sargenty Agt. 
 
 BestrictlTo: 
 
 Pay to Chas. E. Allen only, 
 
 I. Q. Oakley. 
 
 BILLS AND INVOICES. 
 
 A Bill is an account rendered in items. There are two kinds: 
 one for services rendered, and the other for goods sold. 
 
 17. FOR SERVICES. 
 
 San Jose, March 10, 1883. 
 Eugene C. Cole, 
 
 To Elmer Brownell, Dr. 
 
 For 3 days' Work, Repairing Fence, @ $2.50 $7.50. 
 
 40 
 
BUSINESS FORMS. 
 
 18. RECEIPTED BILL. 
 
 Walnut Creek, Feb. 9, 1883. 
 Geo. E. Laekey, 
 
 To Daniel Mahoney, Dr. 
 
 For five days' Labor, Trimming Trees, @ $2 $10.00. 
 
 Rec'd Payment, 
 
 Daniel Mahoney. 
 
 Mr. Geo. Rice, 
 
 19. FOR GOODS SOLD. 
 
 Yreka, June 5, 1883. 
 Bo't of Vance & Walbridge. 
 
 150 ^ Granulated Sugar, 
 60 ff Dried Peaches, 
 
 13^ 
 15^. 
 
 1950 
 
 2850 
 
 Miss Mollie Walsh 
 
 20. FOR GOODS SOLD. 
 
 Placerville, May 15, 1883, 
 
 r 
 
 To Alderson & Co., Dr. 
 
 To 16 ff Gingham, @ 15^ 
 
 •* 10 fj: White Embroidery, Sojf 
 
 Rec'd payment, 
 
 Thos, Aldkrson. 
 
 240 
 
 540 
 
 21. ITEMS OF AN ACCOUNT. 
 
 ViSALLA, Aug. 10, 1883. 
 Messrs. Low & Parker, 
 
 In Account with James Trimble, Dr. 
 
 1883 
 Jun. 
 
 Jnly 
 Jun. 
 
 @$3. 
 
 8^, 
 12^ 
 
 To 40 ;^ Broadcloth, 
 " 50 ;ir Muslin, 
 " 60 ff Cotton Batting, 
 
 Cr. 
 By 15 fji Broadcloth, @ $2.50. (Returned damaged) 
 
 '* Cash 
 
 Balance due 
 
 Rec'd payment, 
 
 James Trimblk, 
 
 per David Snodgrass. 
 
 41 
 
 120 
 
 720 
 
 37501 
 40 
 
 13120 
 
 7750 
 
 5370 
 
BUSINESS FORMS. 
 
 22. ACCOUNT OF 8AIJB. 
 
 Sales CrjiJM on Joint Account of 
 
 R. J. SiNNOTT and Ourselves, each J. 
 
 1883 
 
 May 25 
 
 Sold Henry Petray, on <^, 60 ds., 
 
 300 bbla. Flour, @ $7 
 
 Sold A. R. Sheata, for cash, 
 
 200 bbU. Flour, @ $6.75 
 
 Charge. 
 
 Storage and Adrertiaing 
 
 Commiasion, 2^% on $3,450 
 
 Oar i net gain *. 
 
 R. J. Sinnott*8 net proceeds 
 
 Invoice, 500 bbls. Flour, @ $6 $3,000 
 
 ^ net gain 169.37 
 
 $3,169.37 
 
 Dne by Equation. 
 
 E.K. 
 
 San Diego, May 25, 1883. 
 
 2100 
 1350 
 
 25 
 86 2d 
 
 3450 
 
 28063 
 
 316937 
 
 ORDERS. 
 
 An Order is a written request to deliver money or goods. 
 It is used by the person receiving it as a voucher that the per- 
 son signing it is responsible, and that the thing or things 
 mentioned have been delivered. 
 
 23. ORDER FOR MONET. 
 
 Santa Barbara, June 1, 1883. 
 Mr. A. W. MiZE, 
 
 Please pay to John W. Stirling or order. Twenty Dollars, 
 
 on my account. 
 
 L. N. Wristen. 
 
 24. ORDER FOR GOODS. 
 
 Eureka, July 12, 1883. 
 Mr. I. S. Thompson, 
 
 Please deliver to Geo. Duncan, Thirty Dollars in goods 
 from your store, and charge to my account. 
 
 John Trimble. 
 
BUSINESS FORMS. 
 RECEIPTS. 
 
 A Receipt is an acknowledgment in writing that a sum of 
 money, or something of value, has been received. The simplest 
 form of a receipt is a signature to an itemized bill. The pur- 
 pose in exacting a receipt is that it may serve as a voucher in 
 case of a dispute as to what has occurred. As a simple evi- 
 dence of the payment of money at a particular time, a bank 
 check drawn to the order of the payee is the best. 
 
 25. MONEY ON ACCOUNT. 
 
 $100. 
 
 Received, San Jose, Oct. 1, 1883, of Frederick Baily, One 
 Hundred Dollars on account. 
 
 John Raker. 
 
 «6. IN FUIX OF AXL DEBLANI>S. 
 
 $75t%^. Colusa, March 25, 1883. 
 
 Received of W. H. Summer, Seventy-five and ^y^^ Dollars, 
 in fuU of all demands to date. 
 
 M. A. Rouse. 
 
 27. FOR ADVANCE ON CONTRACT. 
 
 $80. Santa Clara, May 30, 1883. 
 
 Received of Arthur Knox, as an advance on contract for 
 furnishing 200 cords of Live Oak Wood, Eighty Dollars. 
 
 George Edgar. 
 
 28. FOR RENT. 
 
 $60. San Jose, May 1, 1883. 
 
 Received of Carl H. Allen, Sixty Dollars, in full for one 
 quarter's rent of House No. 1524 Seventh Street, due this day. 
 
 F. G. Tyrrell. 
 
 29. TO SERVE AS AN ENDORSEMENT. 
 
 Received, July 8th, 1883, on the within note, Fifty Dollars. 
 
 Wm. E. Bacon. 
 
 30. TO APPLY TO CONTRACT. 
 
 Received, San Jose, May 9, 1883, of F. P. West, One Hun- 
 dred and Forty Dollars, the same to apply to contract for 
 building house, dated April 1, 1883. 
 
 J. R. Saunders. 
 48 
 
BUSINESS FORMS. 
 BILL OF SALE. 
 
 31. SHORT FORM. 
 
 Lakepobt, Aug. 10, 1883. 
 I hereby acknowledge the sale of (here insert a description 
 of the property), to Charles P. Adams of San Jose, Cal. 
 
 Peter A. Ames. 
 
 ARTICLES OF AGREEMENT. 
 
 An Agreement is virtually a contract, by which a certain 
 person or persons, agree to perform certain duties within a 
 specified tune. 
 
 Agreements should show that they are made for a reasonable 
 consideration, else they are void in law. 
 
 Copies of an agreement should always be prepared in dupli- 
 cate, and each party to the agreement should retain a copy. 
 
 32. GENERAL FORM. 
 
 This Agreement, made the first day of May, 1883, between 
 Chas. C. Adams, of Gait, County of Sacramento, State of Cali- 
 fornia, of the first part, and F. A. Butts, of Pacheco, County 
 of Contra Costa, State of California, of the second part, 
 
 Witnesseth, that the said Chas. C. Adams, in consideration 
 of the agreement of the party of the second part, hereinafter 
 contained, contracts, and agrees with the said F. A. Butts, to 
 (here insert specification of agreement). 
 
 And the said F. A. Butts, in consideration of the prompt 
 fulfillment of this contract, by the party of the first part, con- 
 tracts, and agrees with the said Chas. C. Adams, to pay (here 
 insert amount). 
 
 In case of failure of agreement by either of the parties hereto, 
 it is hereby stipulated and agreed that the party so failing shall 
 pay to the other (here insert amount), as fixed and settled 
 damages. 
 
 In witness whereof, we have hereunto set our hands, the day 
 and year first above written. 
 
 Chas. C. Adams. 
 F. A. Butts. 
 
 4i 
 
BUSINESS FORMS. 
 LANDLORD AND TENANT. 
 
 A Landlord is a person who leases real estate to another. 
 The person who holds a lease is known as a tenant, and in 
 law he is called the lessee. The person giving the lease — the 
 landlord — is called the lessor. No particular form of wording 
 a lease is necessary. 
 
 It is essential that the lease state all the conditions, as 
 additional verbal promises avail nothing in law. It is held, 
 generally, that a written instrument contains the details, and 
 states the bargain entire, as the contracting parties intended. 
 
 33. A LSIASE. 
 
 This Instrument, made the first day of June, 1883, Wit- 
 nesseth, that Geo. W. Koch, of San Juan, County of San 
 Benito, State of Cal., has rented from A. L. Talbot, of San 
 Juan aforesaid, the dwelling and lot No. 320 Broadway, situ- 
 ated in said town of San Juan, for three years from the above 
 date, at a yearly rental of Two Hundred and Forty Dollars, 
 payable monthly, on the first day of each month. 
 
 At the expiration of said above mentioned term, the said 
 Geo. W. Koch agrees to give the said A. L. Talbot peaceable 
 possession of the said dwelling, in as good condition as when 
 taken, ordinary wear and casualties excepted. 
 
 In witness whereof, we place hereunto our hands and seals, 
 the day and year aforesaid. 
 
 Geo. W. Koch. [l. s.] 
 A. L. Talbot, [l. s.j 
 
 BUSmESS LETTERS. 
 
 Business Letters should be clear and concise. No more 
 words should be used than are necessary to state the business 
 fairly J nor should words essential to the construction be 
 omitted. Avoid interlineations and erasures; these indicate a 
 lack of interest in and attention to the subject, and greatly dis- 
 figure the letter. 
 
 The teacher should use the blackboard to develop the different 
 parts of a letter. 
 
 45 
 
BUSINESS FORMS. 
 
 34. DfCLOSINO SUBSCRIPTION. 
 
 San Luis Obispo, Cal., May 9, 1883. 
 To the Publisher of the " Pacific School Journal," 
 San Francisco. 
 
 Dear Sir: — For the inclosed Two Dollars, please 
 Bend "The Pacific School Journal" for one year, beginning 
 with the first number of the present volume. 
 
 Respectfully, 
 
 May E. Jepson. 
 
 35. APPUCATION FOR A STTUATIOlf. 
 
 Monterey, Cal., Oct. 10, 1883. 
 H. A. Mobse, 
 
 Co. Snpt. of Schools, Yreka. 
 
 Dear Sir: — Having learned that there is a vacancy 
 in the Grammar School of your city, I offer myself as a can- 
 didate for the position. 
 
 I graduated at the State Normal School in San Jose, in 1880, 
 
 and ever since have devoted myself to the work of teaching. 
 
 I have testimonials from the Trustees of several schools; 
 
 and am also permitted to refer to the Rev. John Smith and 
 
 Prof. James King, of this city. 
 
 Should a personal interview be desired, I shall be glad to 
 see you when it may be most convenient to yourself. 
 
 Yours, truly, 
 
 Annie E. Johnson. 
 
 36. INTRODUCTION. 
 
 Shasta, Jan. 1, 1883. 
 Messrs. A. L. Bancroft & Co., 
 San Francisco. 
 Gentlemen : 
 
 This will introduce to you my friend, Mr. Hamilton 
 Fiflber, who visits your city for the purpose of purchasing 
 goods. Mr. Fisher has a good paying business in this city; 
 in fact, is one of our "solid men." Any favors you may show 
 him in regard to introducing him to houses not in your line, 
 will be highly appreciated by Mr. Fisher, and by 
 
 Yours, very truly, 
 
 Levi F. Herrod. 
 
BUSINESS FORMS. 
 
 37. STATEMENT OF ACCOUNT. 
 
 SuisuN City, Oct. 9. 1883. 
 Leslie Chrysler^ 
 
 Sacramento. 
 
 Dear Sir: — Inclosed please find our usual monthly 
 statement of account. If you find it correct, we shall be glad 
 to receive an early remittance. 
 Please let us have th© amount, if you can, by the 15th, and 
 
 oblige 
 
 Yours truly, 
 
 M. DiNKELSPEiL & Sons. 
 
 M. IHCI^SINO REMITTANCE. 
 
 Sacramento, Oct. 12, 1883. 
 M. DmsELSPEiL & Sons, 
 Suisun City. 
 Gentlemen : 
 
 I herewith inclose a Draft for Eighty Dollars, in set- 
 tlement of account as per statement received. 
 Please acknowledge receipt, and oblige 
 
 Yours truly, 
 
 Leslie Chrysler. 
 
 S9. ORDER FOR GOODS. 
 
 Benicia, May 12, 1883. 
 Messrs. Bancroft & Co., 
 
 San Francisco. 
 Oentlemen : 
 
 Please send me per express, as early as possible: 
 
 2 doz. Milne's Practical Arithmetic. 
 
 3 " Harper's School Geography. 
 5 " Essentials of Book-keeping. 
 
 Yours truly, 
 
 L. WiNMAlW. 
 40. RECOMMENDATION. 
 
 Lo^ Gatos, Nov. 10, 1883. 
 To Whom It May Concern: 
 
 It affords me pleasure to testify to the personal worth and 
 educational qualifications of Miss Julia Harrington. She has 
 
 17 
 
BUSINESS FOEMS. 
 
 tanglit successfully in several schools; by her aptness in teach- 
 ing, and tact in enforcing discipline, she has made a reputation 
 as an earnest and progressive teacher. 
 I cordially recommend her to any Board of School Trustees. 
 
 Respectfully, 
 
 Silas Wright. 
 
 41. MOTICIS OF SHIPMENT OF MERCHANDISE. 
 
 San Jose, Aug. 6, 1883. 
 Messrs. Scott & Williams, 
 San Francisco. 
 Oentlemen : 
 
 According to your order, I have sent you to-day, per 
 S. P. R. R.: 
 
 100 boxes Foster Peaches. 
 50 sacks Early Rose Potatoes. 
 Trusting that these will prove satisfactory and bring a good 
 price, I am, 
 
 Respectfully yours, 
 
 Henry Ahidom. 
 
 QUESTIONS FOR REVIEWS. 
 
 Business Forms. 1. What is negotiable paper t 2. How 
 may it be transferred! 3. How many kinds are there? 4. 
 What is a promissory notet 5. Who are the original parties t 
 6. Mention the different kinds of promissory notes. 7. Ex- 
 plain the difference between an individual and joint, or a joint 
 and several note. 8. Are the words "value received" neces- 
 sary in a notet 9. What are "days of grace?" 10. What is 
 honoring a note? 11. What is it to discount a note? 12. 
 What is an indorsement? 13. For what purpose is it made? 
 14. What is the effect of indorsing a note? 15. How many 
 kinds of indorsement are there? 16. Name and define them. 
 17. What is interest? 18. How is the price paid for the use 
 of money regulated? 19. What is usury? 20. What is the 
 prevalent opinion in regard to usury laws? 21. If interest is 
 
 48 
 
BUSINESS FORMS. 
 
 not mentioned in a note, can interest be collected? 22. What 
 is a bill of exchange? 23. How many kinds? 24. Define 
 foreign and inland bills. 25. In how many ways can you pay 
 a debt in a distant part of the State without sending coin or 
 bank notes? 26. What is the difference between a bill of ex- 
 change and a draft? 27. What is an "acceptance"? 28. 
 Why and how is it made? 29. Name the parties to a bill of 
 exchange. 30. What are the benefits of drafts or bills of 
 exchange? 31. What words express negotiability in a business 
 paper? 32. What is a bank check? 33. What is the person 
 who signs a check called? 34. Why are checks usually drawn 
 to the order of a person? 35. When can payment of a check 
 be countermanded? 36. When must a check be presented for 
 payment? 37. Why? 38. What is a certified check? 39. 
 What is a due-bill? 40. Why is it given instead of a note? 
 41. What is a certificate of deposit? 42. What is a biU of 
 lading? 43. What is a letter of credit? 44. What is an order? 
 45. What is a receipt ? 46. Of what is a receipt evidence ? 47. 
 For what are receipts usually given? 48. What is a bill? 49. 
 How many kinds? 50. Who makes out a bill when goods are 
 sold, and for whose benefit? 51. What are the benefits of 
 having a bill? 52. What is an invoice? 53. What are some 
 of the characteristics of a business letter? 54. What should 
 be the style of writing? 55. How and why do business men 
 keep copies of the letters they send away? 
 
 Write out these Business Papers. 1. Gave my note, at 
 tliree months, to (use names of students in these exercises), 
 for $350 J interest at 7%. 2. Two students gave a "joint and 
 
 several'' note to for $240; time, two years from date. 
 
 3. A student gave a chattel note to , promising to de- 
 liver $300 worth of hay at the market price, three months 
 from date. 4. Write a note, payable 6 months from date, in 
 U. S. gold coin, at Commercial Bank, San Jose; interest, 1J% 
 
 per month. 5. Draw a draft at 30 days' sight, on , of 
 
 New York, in favor of for $350. 6. Write a draft 
 
 upon yourself and accept it, with name of , residing at 
 
 , as drawer, favor of for $275.50. 7. Remitted 
 
 49 
 
BdlSlNESS FORMS. 
 
 to John Oxford, in London, a set of bills of exchange for 
 £560, on Smith & Rider, at 30 days' sight. 8. Borrowed of 
 
 , forty dollars, for which I gave my due-bill, payable 
 
 in 10 days. 9 owes me fifty dollars, and I have taken 
 
 his diie-bUl, payable in goods from his store, on demand. 
 10. Draw your check on San Jose Bank, for $100, in favor of 
 
 , or order. 11. Write a letter of credit, asking 
 
 of Paris, to honor the drafts of your friend , to the 
 
 amonnt of 1500 francs. 12. Give an order to , on 
 
 , for flour from his store, to the value of $30. 13. 
 
 Oive an order on , for $40 in cash. 14. Pay a 
 
 debt due , by giving him an order in his favor, on 
 
 , for $120.50. 15. Write a receipt for $20, received 
 
 from , for one month's rent. 16. Give a receipt 
 
 for $75, paid on ace't. 17. Give a n^ceipt to , for books 
 
 and papers, which he, as a county officer, has turned over to 
 
 you, his successor. 18. Sold on ^, 10 yds. blk. silk, 
 
 @ $2.25; 5 yds. broadcloth, @ $3; 3 doz. buttons, @ 40^; 2i 
 yds. silk serge, @ $1.75 (make out the bill). 19. Worked 6^ 
 
 days for , repairing fence, @ $2.50 per day (make out 
 
 the bill). 20. Give a receipted bill for the following: Sold 
 
 for cash, 5 gals. N. O. molasses, @ 80^; 10 lbs. coffee, 
 
 @ 20f ; 3 lbs. tea, @ 75^'. 21. Write a letter to a merchant 
 in New York, ordering a bill of Mdse.; state how the goods 
 are to be sent, and the manner in which payment will be 
 made. 22. Write a letter inclosing statement of acc't, with 
 
 request for payment 23. Write a letter to , inclosing 
 
 a subscription for one year; specify when to commence, etc. 
 24. Write letters of recommendation, introduction, etc. 
 
 GENERAL REVTEW QUESTIONS. 
 
 1. Define }x)ok-keeping 2. Name the different systems of 
 book-keeping. 3. What is single entry book-keeping? 4. 
 What is an account! 5. What is a personal account? 6. 
 Define an entry; an original entry. 7. What is meant by the 
 term "debtor"? 8. What is meant by the term "creditx>r'? 
 9. In an account, how are the entries placed? 10. What 
 
 50 
 
GENERAL REVIEW QUESTIONS. 
 
 the balance of au account, and how is it found? 11. What i& 
 a transaction? 12. What does the debit side of an account 
 show; the credit side? 13. When do you debit and when do 
 you credit a person ? 14. Define principal and auxiliary books. 
 15. Name the auxiliary books. 16. What is a "set of books"? 
 17. What is meant by ''opening a set of books"? 18. State 
 the use of the various books used in book-keeping. 19. Why 
 may Dr. and Cr., To and By, be omitted from the Ledger? 20. 
 What is the meaning of the figures in the margin of Sales Book 
 and Invoice Book, pages 27 and 28? 21. What are footing lines? 
 22. What are closing lines? 23. What are resources? 24. 
 What are liabilities? 25. What is meant by the term "mer- 
 chandise"? 26. What is an invoice ? 27. What is an inventory ? 
 28. Define bills payable and bills receivable. 29. What is post- 
 ing? 30. In posting, why is the page of each book written 
 in the other? 31. When is posting done in actual business? 
 32. When, how, and why is the check mark [y/] used? 33. 
 What is a statement, or balance sheet? 34. When and why is 
 a balance sheet made out? 35. What is meant by "net capital"? 
 36. How do you find the net capital at commencing; at clos- 
 ing? 37. How do you find the net gain or loss in single entry 
 book-keeping? 38. In opening a set of books what entry do 
 you make for the proprieU^r? 39. What entry is made in the 
 Bill Book when a partial payment is made on a note? 40. 
 When and why is a Bill Book kept? 41. When a full set of 
 books is kept, and you post only -from the Day Book, what 
 entries are made in the Day Book? 42. When you post from 
 the C. B., S. B., and I. B. directly to the Ledger, what entries 
 are made in the Day Book? 43. Why are erasures not allow- 
 able in the Day Book? 44. Mention a transaction which re- 
 quires an entry in both Day and Cash Books. 45. How may 
 an error be corrected in the Day Book, and in the Ledger? 
 46. How often are accounts closed in the Ledger? 47. How 
 can you test the accuracy of the Ledger before closing? 48. 
 When is a note entered in the Day Book? 49. What books 
 may be combined and used as one book? 
 
 The following questions may be asked at the close of each 
 set: 1. In what way can you ascei*tain that you have posted 
 
 51 
 
GENERAL REVIEW QUESTIONS. 
 
 all tlie accounts t 2. What was your net capital at commencing j 
 at closing t 3. What was the amount of cash on hand at start- 
 ing; at closing T 4. Where found! 5. Mention the Ledger 
 accounts which have balances due you. 6. What are these bal- 
 ances called ! 7. Mention the Ledger accounts having balances 
 that you owe. 8. What are these balances called t 9. How 
 do you make a balance sheet, and why! 10. What will your 
 Bill Book showt 11. Your Invoice Book! 12. Your Sales 
 Bookf 13. How do you find the loss or gain! 14. What is to 
 be done with bad debts in making the- balance sheet T 
 
 In the following "sets" when the manner of the sale is not stated "on ^" 
 is understood. Notes in which time is omitted may be considered as dne 
 in one year. 
 
 EXERCISES FOR THE STUDENT. 
 
 After the completion of the first three or four of the follow- 
 ing sets, the Invoice and the Sales Book are to be kept in 
 addition to the Day Book, Cash Book, Bill Book, and Ledger. 
 It is often advisable to substitute the names of students for 
 those given in the memoranda. — Require students to prepare 
 "business papers" as indicated in the first and second sets. 
 
 Set 1. Vallejo, July 1, 1883. Wm. Megarry commenced 
 business with cash^ $1200; merchandise, $1800; an accH against 
 Wm. Crowhurst, of $106.50. 
 
 July 2. Bo't of J. Brooks, for cash, invoice of Mdse., $480. 
 3. Sold H. D. Richardson, on <5fc, 1 cheese, 28 ;ff, @ 20^; 4;^ 
 raisins, @ 25^ (make out the bill). 4. Sold James Graham, 
 on <5fc, 5;^ molasses, @ 70^; 600 J^ flour, @ $1.75 per C; and 
 bo^t of him 25 water-melons, @ 15f . 5. Paid cash for drayage, 
 $5.50. 6. Cash sales to date, $89.80. 8. Sold H. D. Richard- 
 son, bill of Mdse., $48.40, and received cash, $20. 9. Bo't of 
 Amos C. Keene, on (jhj bill of Mdse., $180. 10. Rec'd cash, on 
 ^, of Wm. Crowhurst, $50. 11. Gave Amos C. Keene, an order 
 on Wm. Crowhurst for $20 (write the order). 12. Cash sales 
 from 6th inst. to date, $63. 14. Sold Amos C. Keene, on % 
 500 }^ bacon, @ 18^; 200 J^ rice, @ 6i^. 15. Henry Allen has 
 worked for us 8J days, picking fruit, @ $2.50; he has rendered 
 
 52 
 
EXERCISES FOR THE STUDENT. 
 
 his bill and we have credited him with the amt. (write the bill). 
 16. Wm. Crowhurst has paid cash in full to balance his acc't 
 (write the receipt). 17. Debit our clerk, John Eastman, with 
 3;K tea, @ 50^; 250 ;ff flour, $7.75; 1 ham, $2.25. 18. Sold 
 James Graham, biU of Mdse., $43.80; and received of him 13 If 
 eggs, @ 28^; 120 ;ff peaches, @ 3^. 20. Cash sales from 12th 
 inst. to date, $56.90. 21. Sold Chas. Fogg, on % bill of Mdse., 
 $27.60. 22. Debit our clerk with 80 if sugar, @ 13^. 23. Paid 
 Amos C. Keene cash, on «!^, $25. 24. Sold H. D. Richardson, 
 on ojc, 70 ff dried peaches, @ 15^. Bo^t of Brooks & Co., for 
 cash, invoice of Mdse., $120. 26. Sold Henry Allen, on <5fc, 30 
 if bacon, @ 16^. 27. Sold Albert Knorp, on % 2J tons of 
 bran, @ $8; 200;^^ potatoes, @ IJ^. 28. Sold Henry Allen, 
 on ojc, biU of Mdse., $18.60; 30. Cash sales from 20th inst. to 
 date^ $68.40. Credit our clerk with one month's salary, $75. 
 Took an inventory and found Mdse. on hand, $2360. 
 
 Set 2. Eureka, Sept. 1, 1883. Student commenced business 
 with resources as follows: cashj $825; Mdse., as per inventory, 
 $1400; tools, etc., $250. He owes Philip Prior, on ojc, $325. 
 
 Sept. 2. Sold C. R. Pinkerton, on ^, 5,000;^ pine boards, 
 @ $18 per M.; 10,000 shingles, @ $2.75 per M.; 2,000 rough 
 jjickets, @ $20 per M. 3. Bo't of Smith & Co., for cash, in- 
 voice of lumber, $520. 4. Sold S. A. Reddy, on fl|6, 6,000;^ 
 redwood — rough, @ $18 per M. ; 1,500 if redwood studding, @ 
 $22 per M. 5. Sold Amos Dean, 1,850 if flooring — Oregon pine, 
 @ $38 per M.; 1,600 ;^ No. 1 rustic, @ 35 per M.; rec^d cash, 
 $20. 6. Sold David Pratt, on note at 30 ds., bill of lumber, 
 $160. (write the note). 7. Rec'd cash, on <%, of S. A. Reddy, 
 $60.. 8. Paid cash for wagon, $120. 9. Sold J. L. Randall, 
 on <^, 10,000 if redwood— surfaced, @ $32 per M.; 2,500 if shakes, 
 @ $10.50 per M. 11. Gave Philip Prior an order on C. R. 
 Pinkerton for $75 (write the order). 12. Debit our clerk, Peter 
 Careful, with cash, $20. 13. Sold Wm. Ogden, on o^, 25,000 if 
 battens, @ $40 per M.; 800 redwood posts, @ $13 per C. 14. 
 Rec'd cash of C. R. Pinkerton, to balance account (write the 
 receipt). 15. Paid Philip Prior cash, on ojc, $100. 16. Rec'd 
 of Amos Dean his note, due in six months, interest at 10% per 
 
 53 
 
EXERCISES FOR THE STUDENT. 
 
 annum, to balance account. 18. Sold T. R. Crawford, on ^fc, 
 2,000 y pine scantling, 4x4, @ $30 per M. 19. Rec'd of David 
 Pratt, (jash, $40, in part payment of his note of the 6th inst. 
 (make the proper endorsement oh the note). 20. Credit our clerk 
 for labor, $20. 21. Sold WiUiam Ogden, on <^, 15,000 laths, @ 
 $3.50 per M.; 1,800 feet rustic, @ $28 per M. 22. Paid cash 
 for drayage, $10.50. 23. Rec'd an order from Philip Prior, re- 
 questing us to let Calvin Owen have $25 in Mdse. (write the 
 order). 24. Sold T. R. Crawfonl, on % a bill of lumber, $76.80. 
 25. Took an inventory, and found Mdse. on hand, $390; tools, 
 fixtures, etc., $300; amt due on notes, $ ; cash, $ 
 
 Set 3. Petaluma, May 5, 1883. Wm. Bacon cx)mmenced 
 business witli cash^ $300; Mdse., $500. 
 
 Bo't of Buckingham & Hecht, for casli, 80 J^ sole leather, @ 
 46^; 24 prs. carpet slippers, @ 90^. Sold Fred Williams, on 
 ^y 1 pr. calf boots, $8; 1 pr. carpet slippers, $1.25. ('ash re- 
 ceived for sales, $12.50. 6. Paid Buckingham & Hecht cash, 
 for invoice of goods, $67.50. Sold Oeo. Titus, on <jh, 2 pr. boys' 
 boots, @ $2.50; 1 pr. slippers, $1.75. Sold Geo. Pease, on % 
 1 pr. ladies' glove-kid boots, $4.75. Cash sales to day, $16.25. 
 7. Bo't of Fred Williams, on ^, 1 bottle Vinegar Bitters, $1; 
 4 bars soap, @ 15^. Cash sales, $10. 8. Sold Francis Fowler, 
 on ^y 1 pr. rubber boots, $4; 1 pr. boys^ boots, $3. Debited 
 Wm. Sprowl, $1.37, for mending boots. Paid cash for freight, 
 $3.50. Cash sales, $17. 9. Repaired boots for Geo. Titus and 
 charged him 75^ on <^. Bo't of him, on % 30 jiff butter @ 
 25^; 6;ff eggs, @ 30^. Cash sales, $13.50. 10. Sold S. T. 
 Bennett, on '^, 1 pr. boots, $6; 2 pr. boys' boots, @ $5; 2 pr. 
 ladies' serge boots, @ $6. Mended boots for Geo. Pease and 
 charged him, on % $1.50. Paid cash for street sprinkling, $1.50. 
 Cash sales, $25. 12. Bo't of Joseph Hanson, on ^Ifc, 1 bbl. flour, 
 $5.75. Paid ISIrs. Trusty cash for cleaning store, $3.75. Cash 
 sales, $11.50. 13. Bo't of Fred Williams, on <56, 3 ;^ vinegar, 
 @ 60^; 5 # cider, @ 40^. Sold Geo. Titus, on fl(fc, 1 pr. brogans, 
 $2. Sold Francis Fowler, on <5fc, 1 pr. slippers, $1. Debited 
 Wm. Sprowl 75^ for mending shoes. G«o. Pease paid us cash, 
 on % $5. Cash sales, $15.75. 14. Cash sales to-day, $18.50. 
 
 54 
 
EXERCISES FOR THE STUDENT. 
 
 15. Cash sales to-day. $23. 16. Sold Joseph Hanson, on <5fc, 1 
 pr. rubbers, 85^; 1 pr. ladies' bronze kid boots, $9; 1 pr. slip- 
 pers, $1.25. Bo't of Geo. Titus, on % 180;^ potatoes, @ IJ^; 
 25 Jiff veal, @ 10^. Sold Fred Williams, on % 1 pr. rubbers, 
 $1. Paid cash for stock, $45.50. Cash sales, $20.75. 17. Sold 
 Wm. Sprowl, on <^, 1 pr. children's copper-toed shoes, $1.25; 
 1 pr. boys' boots, $3.25; 1 pr. bidies' congi*ess boots, $2.75; 1 
 pr. brogans, $2. Francis Fowler paid us cash to balance his 
 
 account, $ Cash sales, $29.75. 19. Sold' Geo. Pease, on 
 
 % 1 pr. kip boots. $7.50. Sold S. T. Bennett, on ^, 3 pr. 
 children's iiibbers, @ 65^ ; 1 pr. ladies' rubbers, 756*. Paid cash 
 for sawing wood, $3.25. Cash sales, $14.75. 20. Sold Fred 
 "Williams, on ^, 1 pr. congress gaiters, $3.25. Sold Geo. Titus, 
 on <^, 2 pr. boys' boots, @ $3.50. Bo't of him 5 chickens, @ 
 50^. Sold Francis Fowler, on ^, 1 pr. children's bronze kid 
 boots, $2.75. Paid cash for sundi'ies, $2.40. Cash sales, $17.50. 
 21. Cash sales to-day, $21.50. 22. Bo't of Joseph Hanson, on 
 % 30;ff gran, sugar, @ 13^; 5 ;ff coffee, @ 30^. Sold S. T. 
 Bennett, on ^, 1 shawl strap, 75^. Wm. Sprowl paid cash, on 
 % $5. Cash sales, $25.75. 23. Bo't of Fred Williams, on ^, 
 J ream of paper, 75(.'. Sold Francis Fowler, on ^, 1 pr. chil- 
 dren's rubbers, 65<?. Rec'd of S. T. Bennett cash, on % $20. 
 Cash sales, $19.25. 24. Sold Joseph Hanson, on <56, 1 pr. calf 
 boots, $8. Sold Geo. Pease 1 pr. cloth gaiters, $3.25. Paid 
 cash for stock, $19.30. Geo. Pease paid cash, on <^, $10. Cash 
 sales, $27. 26. Soled 1 pr. boots for Fred Williams and charged 
 him, on ^, $1.50. Paid cash for horse hire, $3.25. Cash sales, 
 $16.50. 27. Bo't of Geo. Titus, on % 100;^ beets, $1.50; 20 ff 
 beans, $1 ; b f^ <^ggs, $1.50. Sold Joseph Hanson, on ^, 1 pr. 
 ladies' serge boots, $3.25. Cash sales, $19. 28. Cash sales, $21. 
 
 29. Fred Williams paid cash, on ^, $10. Cash sales, $23.75. 
 
 30. Bo't of Joseph Hanson, on <}6, 20^ lai-d, @ 15^; 1 box 
 raisins, $1.25; 2 ff tea, $1.25. Wm. Sprowl has paid cash to 
 
 balance account, $ Paid clerk's salary, $30. Cash sales, 
 
 $15.75. Took an inventory and found Mdse. on hand, $250. 
 
 Set 4. San Jose, July 1, 1883. Martin H. Lawson com- 
 menced business this day with the following assets and liabilities: 
 
EXERCISES FOR THE STUDENT. 
 
 cash, $1500; Jftfee., as per inventory, $5000; note of Caii Allen, 
 dated June 1, 1883, at 3 months, for $500, and a note of D. T. 
 Mahoney, for $275, dated June 10, at 60 days. He owes E. C. 
 Roilwick, $125 on ^j and D. S. Snodgrass holds his note for 
 $200, dated May 1, at 4 months. 
 
 July 2. Sold Frank A. Butts, on a^, 6 firkins butter, 480 
 ;^, @ 22^; 40 tin pails, @ 45?; 2,000 broom handles, @ 50^' 
 per C. 3. Pmd cash for scales and measures, $12. Sold BlanchB 
 Krahl, on % 2(X) ;j^ sugar, @ 12J?, 150 ;^ salt, @ IJ?. 4. Sold 
 W. S. Bailey„ on note at 30 days, 50 sacks Liverpool salt, @ 
 $1.25. Rec»d cash for petty sales, $36.80. 5. Rec'd of Carl 
 Allen a cliectk on Bank of San Jose for $100, jiart payment of 
 his note of 1st inst. 6. Discounted our note, favor of D. S. 
 Snodgrass, pacing him $190 for same. Frank A. Butts returned 
 1 firkin of butter, 80 J!^, bo^t of us on the 2d inst. 8. Sold F. 
 H. Ottmer, on <5fc, 50 lilf. boxes raisins, @ $1.50; 25 boxes Los 
 Angeles lemons, @ $2.25. Rec'd c^i, on <^, of Blanche Ki-ahl, 
 $10. 9. Paid wish for chui-ch subscription, $10. Sold L. A. 
 Lehnig, 275;^ rice, @ 6Jf^; 40;^ Eastern ham, @ 16J?; 500 /:f^ 
 flour, @ $3.25 per C; rec'd in exchange, 15 ;ff eggs, @ 30^; 
 balance on f]c. 10. Paid Ciish for street sprinkling, $2.50. 11. 
 Rec'd cash for petty sales, $40. Sold W. S. Bailey, on <}fc, 5 ;f^ 
 kerosene, @ 40?; 10 cans apricots, ® 25?; 10;^ coffee, (ffi 
 16?; 5;!ff tea, @ 60?. 12. Bo't of Lake & Co., on % SOO ;j( 
 rice, @ 6?; 100;^ lai-d, @ 15?; 80;^ tobacco, @ 40?. Rec'd 
 cash on ^ of Frank A. Butts, $75. Paid cash for drayage, 
 $4.50. 13. Grave our clerk, George Hothersall, an order on 
 F. H. Ottmer for $25 in Mdse. 14. Loaned John Curtis, $40. 
 Discounted note of D. T. Mahoney of the 1st inst., at Com- 
 mercial Bank, and received $265. Bo't of Hal Needhani, on <?fc, 
 50 ^ stove wood, @ $6. 15. Bo't of Frank A. Butts, on (^, 
 25 turkeys, @ $1.10. 16. Martin H. Lawson drew out $50 
 cash, for personal use. 17. Paid E. C. Rodwick cash, on % 
 $60. 18. Sold Leon Taylor, 500 Jj^ Lima beans, @ 4?; 60 
 centals seed wheat, @ $1.60; 40 centals barley, @ $1.40; rec'd 
 his note for $100 at 30 days, balance on ^. 19. Burglars 
 broke into the store and took $100 in cash. Rec'd an order 
 from E. C. Rodwick requesting us to pay John Utter $25 in 
 
 56 
 
EXERCISES FOR THE STUDENT. 
 
 Mdse. 20. Sold L. A. Lehnig, on ojc, 200 f^ salt pork, @ 18^j 
 400 :^ dried prunes, @ 14^*. 21. Sold Henry Doubtful, on ^, 
 75 centals barley, @ $1.45. 22. Sold Peter Slowboy, on % 
 1,100 y^ sugar, @ 13^ j 180 jif^ bacon, @ 20^. 23. Sold Leon 
 Taylor, on ofc, 125 # dried peaches, @ 16^. 24. Sold Blanche 
 Krahl, on % 1 cask pickles, 80 ;ff, @ 10^. 25. Bo't of L. A. 
 Lehnig, on ^, 25 ;ff wood, @ $6. Sold Frank A. Butts 40 
 boxes cigars, @ $1.25; rec'd cash, $20, balance on o;6. Paid 
 Lake & Co. cash, on % $60. 26. Peter Slowboy has failed, 
 and we have rec'd from him, cash, 25<^ on the dollar for amt. 
 due us. Credit our clerk, Geo. Hothersall, with salary for one 
 month, $75. 27. Rec'd cash for petty sales, $48.60. 28. Henry 
 Doubtful has left the State, and we have lost the amount due 
 us. 29. Took an inventory and found Mdse. on hand, $4960,- 
 notes, $ ; cash, $ 
 
 Set 5. In this set keep the account with the bank either in 
 the Cash Book, or, if you prefer, in the Ledger. 
 
 Oakland, Oct. 1, 1883. G. W. Congdon commenced business 
 with easily $1100; Mdse., $1000; and an account against Kate 
 Montgomery of $65. He owes Field & Co., on ojc^ $120. 
 
 Put $800 in Bank of San Jose. 2. Bo't of N. Murray & 
 Co., for cash, 1 bolt Merrimack prints, 120 ff, @ 10^ ; 60 prs. 
 kid gaiters, @ $2.50. Sold Frank Graham, on ^J^, 1 pr. calf 
 boots, $7.50; 10 boxes paper collars, @ 20^. Sold Mary Har- 
 riman, 16 ;ff English prints, @ 22^; 1 pr. kid gloves, $1.75; 1 
 pr. kid gaiters, $3.25; rec'd cash, $5, balance on ^. Cash sales, 
 to-day, $21.60. 3. Sold Fred Cauch, on % S fj^ English tweed, 
 @ $1.75; 2Aff Lynn cottons, @ 12J^. Paid Field & Co., on 
 (^, $50, by check on Bank of San Jose. Cash sales, $31.25. 4. 
 Sold Mary Harriman, on ^, 20 f^ fancy linens, @ 25^; 1 silk 
 scarf, $1.25. Put $80 in Bank of San Jose. Sold Frank Graham, 
 on afc, 40 ;f^ canvas, @ 20^; 1 trunk, $5.50; 1 pr. gum boots, 
 $4.50. Bo't of Field & Co., by check on Bank of San Jose, 
 10 pieces fancy cassimeres, 220 ;^, @ 80^. Cash sales to-day, 
 $40. 5. Sold Fred Cauch, on <^, 1 doz. handkerchiefs, $2.25. 
 John Ames has worked for us 5 days repairing fence, @ $2.50 
 per day; we let him have 8 prs. socks, @ 50^, balance on <5fc. 
 
 57 
 
EXERCISES FOR THE STUDENT. 
 
 Cash sales, $24.60. 6. Paid cash for newspapers, $4. The 
 proprietor has taken 16 if Lancaster gingham, cost 10^ per ;|ffj 
 1 pr. gaiters, $3.50. Sold Lena Dranga, on ^, 10 jf crash, @ 
 20^; 1 tiible-cover, $3.25; 1 clothes-line, $1.25. Cash sales, $38.50. 
 
 8. Put $50 in Bank of San Jose. Gave Field & Co. an order 
 on Kate Montgomery for $50. Bo't of Fred Cauch, on ojc^ 80 
 if Lima beans, @ 4J^; 1 doz. quail, $1.50. Cash sales, $30. 
 
 9. Sold John Ames, on ojr., 4 shirts, @ $1.50. Rec'd cash, on <5fc, 
 of Frank Graham, $12. Paid cash for drayage, $2.50. Sold 
 Henry Artful, on <jfc, 30 ;K English broadcloth, @ $2.25. Cash 
 sales, $38.25. 10. Casli sales, $108.50. 11. Put $80 in Bank 
 of San Jose. Paid our clerk. Amy Whatmore, $40, by check 
 on Bank of San Jose. Cash sales, $88.40. 12. Rec'd Henry 
 
 Artful's note, at 60 days, to balance his acc't, $ Paid cash 
 
 for gas, $2.75. Sold Fred Hazard, on ^, 16 linen collars, @ 
 25f ; 6 white shirts, % $2.50; 6 pr. socks, @ 50^. Cash sales, 
 $40.30. 13. Put $40 in Bank of San Jose. Bo't of Jennie 
 Hale, on ojc, 6 doz. silk hkdfs., @ $4.50; 3 pes. cassimere, 150 ;f^ 
 @ 75?. Cash sales, $18.20. 14. Sold John Ames, on ojc, 25 if 
 bleached muslin, % 12?; 1 pr. slippers, $1.25. Rec'd an order 
 from Jennie Hale, requesting us to pay Virginia Calhoun cash 
 $20. Cash sales, $16.50. 15. Credit our clerk with two weeks' 
 salarj', $60. Henry Artful has failed and his note is worthless. 
 On examination of our cash we fijid $10 counterfeit. Took an 
 inventory and found Mdse. on hand, $900. 
 
 Set 6 (a). June 1, 1890. Student commenced business with 
 cash, $980; a note of James Preston, for $500; and an account 
 against Orra J. Traber of $128. Student owes Cyrus Gaddis, 
 on %, $85. 2. Deposited $925 in Garden City Bank. Bo't of 
 Holland & Co., a bill of Mdse., $800, gave them a check on G. C. 
 Bank for $500. — Bal. on %. Received an order from James 
 Preston on Cyrus Gaddis for $200, to apply on Preston's note. 
 Sold Wm. Pettit a bill of Mdse., $290, and received cash, $190.— 
 Bal. on %. Gave Cyrus Gaddis a check on G. C. Bank for $60. 
 3. Deposited $325 in G. C. Bank. Sold Charles Smartman a bill 
 of Mdse., $210, and received a check for $100.— Bal. on %. Bo't 
 a bill of Mdse. of Clyde Ray, $300, gave him our note for $200, 
 and a check on G. C. Bank for Bal. Smartman has failed, and 
 we havft received 20% of am't due us in cash. 4. Took an inven- 
 tory and found Mdse. on hand $700. 
 
 68 
 
EXERCISES FOR THE STUDENT. 
 
 Set 6(b). January 1, 1890. Student commenced business 
 with cash, $690; Mdse. $2,000. Student owes Fred Ogden, $200 
 on note. Sold Harding Kennedy a bill of Mdse., $170, and 
 received an order on Fred Ogden for $100. — Bal. on %. Sold 
 Inez Tarr a bill of Mdso., $186, and received a check for $100. 
 —Bal. on %. 2. Paid Fred Ogden $100 on note. Bo't of Chas. 
 Kirby a bill of Mdse., $216, and gave him an order on Inez Tarr 
 for $75, an order on Harding Kennedy for $70. — Bal. on %. 
 
 3. Sold Fred Ogden on %, a bill of Mdse., $163.50. Sold Henry 
 Peters on note, a bill of Mdse., $270. Paid cash for rent $65. 
 
 4. Took an inventory and found Mdse. on hand, $1,710. 
 
 Set 6 (C). May 1, 1892. Student commenced business with 
 cash, $1,260; Mdse., $1,100. Deposited $1,200 in Union Bank. 
 Bo't a bill of Mdse. of Webb & Co., $364, and gave a check on 
 Union Bank for the amt. 2. Sold Frank Whipple a bill of Mdse. 
 $295.50, and received a check on Union Bank for $200. — Bal. on 
 %. Sold Eli Harter a bill of Mdse., $340, and received a note 
 for $250. — Bal. on %. Credit Henry Jones for 5^ days' work 
 at $3.00 per day. Sold Bert McNeil a bill of Mdse., $200 
 on %. Gave Henry Jones an order on Frank Whipple for am't 
 due him. Bo't Mdse. of Webb & Co., $300, and gave a check on 
 Union Bank for $200.— Bal. on %. 3. Sold our entire stock of 
 Mdse. for $1,050 cash. 
 
 Sets (d). Sept. 1, 1891. Student commenced business with 
 cash, $3,600, and an account against John Tennant of $180. Bo't 
 a bill of Mdse., $1,760, of Rice & Co., and paid cash, $1,500.— Bal. 
 on%. Deposited $2,000 in Merchants' Bank. 2. Hired Chas. Bur- 
 rell to clerk, at a salary of $80 per month. Sold Addie Beck 
 Mdse., $190.25, and received her note for that amount. Sold 
 Ralph Burns a bill of Mdse., $210, and received cash, $175. — Bal. 
 on %. 3. Bo't a bill of Mdse. of Enid Bell, $300, and gave her 
 Addie Beck's note. — Bal. on %. Sold George May Mdse., $416, 
 and received a check on Merchants' Bank for $300. — Bal. on %. 
 4. Gave our clerk a check an Merchants' Bank for $20. Paid for 
 
 59 
 
EXERCISES FOR THE STUDENT. 
 
 advertisiDg $30, by check on Merchants' Bank. Received an 
 order from John Tennant on Ralph Burns for $100, to apply on 
 Tennant's %. 5. Credit our clerk with salary to date, $18. Took 
 an inventory and find Mdse. on hand, $1,243.75. 
 
 Set 6 (e). March 1, 1892. Student commenced business 
 with Mdse., $3,400; cash, $360. Sold Jas. Gordon Mdse., $462, 
 and received his note for $400. — Bal. on %. Sold George Little 
 Mdse., $300, and received cash, $186. — Bal. on %. Paid cash for 
 wood, $25. 2. Sold Ida Parry Mdse., $315, and received an order 
 on Jas. Gordon for $160. — Bal. on%. Bo't Mdse. of Lawton & 
 Co., $420, and gave an order on Ida Parry for $100.— Bal. on %. 
 3. Discounted Gordon's note at Bank of San Jose, and received 
 $388 iu cash for it. Sold Ida Parry Mdse., $194, on %. Little 
 has failed and we lose the am't due us. Sold Jas. Gordon, on %, 
 Mdse., $170. 4. Paid Lawton & Co. am't due them in cash. 
 Took an inventory and find Mdse. on hand, $2,400. 
 
 Set 6 (f ). Aug. 1, 1890. Student commenced business with 
 Cash, $6,000, and a note against Henry Owen, $280. 
 
 Aug. 2. Deposited $5,800 in Garden City Bank. Bo't Mdse 
 of Swan & Co., $2,800, and gave a Check on G. C. Bank for the 
 am*t. Sold Chas. Ames, Mdse., $265.50, and rec'd a Check for 
 $150. — Bal. on %. Bo't coal for store use, $85, and gave a check 
 on G. C. Bank for the am't. Sold Geo. Smaller Mdse. $70, and 
 rec'd his check for the am't. 
 
 Aug. 3. Henry Owen paid us Cash on his note, $75. Sold 
 Peter Slim, Mdse., $310, and received his note for the am't. Bo't 
 Mdse. of Ira Parker, $700, and gave Slim's note in part payment. 
 — Bal. on %. Smaller's check is worthless, and he has disap- 
 peared. Sold V. Rattan Mdse., $285, and received his note for 
 $100, an order on Henry Owen for $100.— Bal. on %. 
 
 Aug. 4. Sold Chas. Ames, Mdse, $290, and rec'd an order on 
 Henry Owen for $200. — Bal. on %. Deposited all Cash on hand 
 in G. C. Bank. Paid for incidentals by check on G. C. Bank, 
 $28.50. Took an inventory and find Mdse. on hand, $2,700, and 
 coal, $57. 
 
 60 
 
EXERCISES FOR THE STUDENT. 
 
 Set 7. San Jose, May 1, 1888. James Black com me need 
 business this day with the following Assets and Liabilities: 
 Cash, $1,750; Mdse,, $2,000; Acct. against Adam Alvarez, 
 $200. He owes one Note, dated April 10, 1888, at 6 mos., 
 favor Richard Cotter, for $250. 
 
 May 2. Paid for sets of books, $24. Deposited in Com- 
 mercial Bank, $1,650. Sold Fred Brunhouse, on ^, 1 sofa, 
 $18; 6 parlor chairs, @ $5; 1 table, $22. 
 
 May 3. Paid for freight, $16.25. Bo^t of San Jose MTg 
 Co., an invoice of furniture amounting to $450; gave our 
 note at 90 days for $300.— Bal. on ^. Sold Bonnie Ford, 
 1 book-case, $30; 1 rocker, $7.50; received an order on 
 Malsie Livingston for $15. — Bal. on ^. 
 
 May 4. Bo*t an invoice of Mdse. of the San Jose MTg 
 Co., $300, and gave a check on the Commercial Bank for 
 the Amt. Sold Walter Gray, 1 what-not, $13.50; 1 doz. 
 common chairs, $12; 40 yds. Brussels carpeting, @ $1.50; 
 received cash, $40. — Bal. on ^. Paid cash for advertising, 
 $12.50. 
 
 May 5. Adam Alvarez paid cash on ^, $50. Paid $100 
 on our note, held by R. Cotter, by check on Commercial 
 Bank. Fred Brunhouse paid cash for his bill, but we 
 allowed a discount of $6, on account of a defect in sofa. 
 
 May 7. Paid cash for gas, $7.50. Received cash for 
 petty sales, $10.50. Sold Mamie Lowe, 1 bureau, $30; 1 
 bracket, $4.50; 1 lounge, $18; received cash, $20. — Bal. on ^. 
 
 May 8. Adam Alvarez gave his note at 90 days to balance 
 his Acct. Sold Walter Sumner, 1 wardrobe, $32; 1 book- 
 case, $40; 4 chairs, $12, received cash, $25. — Bal. on ^. 
 
 May 9. Sold Bonnie Ford, on ^, 6 chairs, @ $2.50, 26 
 yds. carpeting, @ $1.30. Paid cash for incidentals, $8.75. 
 Received cash for petty sales, $21.10. 
 
 May 10. Bo'tof T. S. Hays, 1 light wagon, $125, gave 
 him an order on Walter Gray for $45. — Bal. on ^. Depos- 
 ited in Commercial Bank all cash in store. 
 
 May 11. Sold Walter Gray, on ^, 1 music stool, $8.50. 
 Sold T. S. Hays, on ^, 1 doz. dining chairs, @ $1.50 each. 
 Received for petty sales, $18.90. Mdse. in store at this 
 date, $2400. 
 
 61 
 
NEW FIRM. 
 
 May 12. James Black has this date associated with 
 him in business H. C. Clark. Mr. Clark deposits in Com- 
 mercial Bank, an amount equal to Mr. Black's net capital 
 on May 12, and is to share equally in gains and losses after 
 that date. (Student will close all accounts, May 12, and 
 bring down balances, — making out a Balance Sheet for 
 Mr. Clark's inspection.) 
 
 May 14. Received cash for petty sales, $22.30. Sold 
 Emma Tupper, on <^, 1 bureau, $34. Sold Adam Alvarez, 
 1 portable secretary, $35; 1 washstand, $8.50; 1 study 
 lounge, $20; received cash, $20. — Bal. on ^. 
 
 May 15. Paid $45 for rent, by check on Commercial 
 Bank, received cash for petty sales, $19.25. Sold T. S. 
 Hays, on ^, 1 rosewood tete-a-tete, $40. 
 
 May 16. Bo't an invoice of Mdse. of Rose & Co., Amt., 
 $125, and gave a check on Commercial Bank for $100, and 
 an order on Emma Tupper for $25. 
 
 May 17. Received cash for petty sales, $22.10. Paid 
 cash for incidentals, $3.25. Sold Bonnie Ford, on ^, 1 
 mantel clock, $15. Sold Walter Gray, 1 center table, 
 $14.50; 1 lot black walnut lumber, $50; and received an 
 order on F. Arbogast for $25. — Bal. on ^. 
 
 May 18. Received cash on ^ of Bonnie Ford, $10. 
 Sold Richard Cotter, on ^, 1 lot of maple lumber, $75. 
 Received cash for petty sales, $21.25. 
 
 May 19. Sold T. M. Hawkins, on note at 6 mos., a bill of 
 Mdse., $100. Sold Mamie Lowe, on ^, a bill of Mdse., 
 $45. 
 
 May 21. Paid cash for advertising, $15. Sold Walter 
 Gray, on ^Jfc, 6 parlor chairs @ $5.50. Sold Walter Sumner, 
 on 'Jfc, 1 hair mattress, $15. 
 
 May 22. Sold George Aimless, on ^, a bill of Mdse., 
 $110. Found a counterfeit five-dollar bill in cash drawer. 
 Received Cash for petty sales, $36.50. 
 
 May 23. Sold Richard Cotter, 1 cottage bedstead, $18; 
 1 set enameled furniture, $80; received cash, $25. — Bal. 
 on 'Jfe. Loaned Henry Miller, cash, $50. 
 
 May 24. Sold George Tebbe, on ^, a bill of Mdse., $74. 
 Geo. Aimless has failed and we have received 30% of Amt. 
 due us by order on Geo. Tebbe. 
 
 62 
 
NEW FIRM. 
 
 May 25. Sold Henry Miller, on ^, 220 ft. black walnut 
 lumber, @ $150 per M. Received cash for petty sales, 
 $18.70. Paid cash for incidentals, $6.20. 
 
 May 26. Sold Walter Gray, on ^, a bill of Mdse., $48.20. 
 Sold Geo. Tebbe, 1 set maple furniture, $120, received 
 an order on Amelia Meyer, for $75. — Bal. on ^. 
 
 May 27. Sold Adam Alvarez, on ^, a bill of Mdse., $50. 
 Paid cash for newspapers, $6. Received cash on ^ of 
 Henry Miller, $20. 
 
 May 28. Discounted our note, dated May 3, favor S. J. 
 MTg Co., and paid $290 by check on Commercial Bank. 
 Sold Richard Cotter, on ^, 40 yds. English carpeting, @ 
 $1.60. 
 
 May 29. Mamie Lowe returned a defective clock and we 
 credit her for value, $12. Sold Walter Sumner, on ^, 1 
 black walnut bedstead, $30. Paid cash for incidentals, $10. 
 
 May 30. Took an Inventory and find Mdse. in store, 
 $1,370. 
 
 EXAMPLES FOR STATEMENTS. 
 
 Example 1. A and B are equal partners, each investing 
 $5,500. At the end of the year they wish to take C into co- 
 partnership, upon condition that he invest equally with 
 them. The following is a statement of their business 
 previous to uniting with C: Ledger Accts., — Georgia 
 Thatcher, Dr., $800, Cr., $650; George Albee, Dr., $3,000, 
 Cr., $1,200; Carter Elliott, Dr., $1,890, Cr., $780; Rose 
 Clark, Dr., $580, Cr., $720; John Hughes, Dr., $4,000, Cr., 
 $2,100; Celia Daniels, Dr., $1,500, Cr., $1,100; L. B. Keel, 
 Dr., $870, Cr., $420; Merchandise unsold, $3,200; Notes on 
 hand, $3,000; Notes outstanding, $1,200; Cash on hand, 
 $1,650. Required, a statement showing gain or loss, and 
 net capital of each partner at closing. 
 
 Example 2. C and D enter into co-partnership, C to 
 furnish $6,000, and D to furnish $4,000; gains and losses 
 to be shared proportionately. At the end of the year they 
 have ca«h, $2,980; Personal Accts., $1,600; Merchandise, 
 $8,700; Notes, $1,875; they owe, on notes, $2,000; on per- 
 sonal Accts., $2,800. Required, gain or loss in business; 
 each partner's capital at closing. 
 
 63 
 
EXAMPLES FOR STATEMENTS. 
 
 Example 3. A, B and C are partners. A puts into the 
 concern, $7000; B, $5,000, and C, $4,000. At the close of 
 the year their booka exhibit the following results: Nellie 
 Dav, Dr., $1,650, Cr., $400; G. M. DeLameter, Dr., $1,120, 
 Cr/, $850; George Boke, Dr., $1,640, Cr., $1,810; Frank 
 Lane, Dr., $750. Cash received, $42,820.25; Cash paid out, 
 $39,870; Merchandise on hand, $2,650; Notes received, 
 $15,000; Notes disposed of, $13,500. A has drawn out, 
 $1,000; B, $800; C, $500. They have issued notes to the 
 amount of $3,500, and redeemed notes to the Amt. of $2,800. 
 Required, a statement exhibiting all these facts, also gains 
 or losses, and each partner's net capital at closing. 
 
 Set 8. Petaluma, Jan. 1, 1888. Geo. A. Tebbe com- 
 menced business as a farmer, with the following Resources 
 and Liabilities: 
 
 160 acres of land, valued at $10,0C0; Buildings and fix- 
 tures, $3,600; Implements, $300; Live-stock, $500; Hay 
 and grain on hand, $250; Cash, $400; An Acct. against 
 Willis Parker for $100. Mr. Tebbe owes W. W. Cooper, 
 on ^f $40, and O. H. Grubbs, on note at 6 mos. $150. 
 
 Jan. 2. Engaged Henry Tucker for the year, at $25 per 
 month, and paid him cash down $20. Subscribed for 
 "Rural Press", paying cash, $2.50. 
 
 Jan. 30, I am trading with W. M. Greenwell <fe Co. 
 They are to render a bill on the last day of each month. 
 Rec'd bill to-day for $75.25; I pay them cash, $25. — Bal. 
 on ^. Rec'd cash for eggs, $4.25. 
 
 Feb. 28. Willis Parker paid cash on ^, $25. Commenc- 
 ed an Acct. with Chas. Nott, blacksmith; his bill for month 
 is $15.50; I let him have 5 doz. eggs @ 40c., and cash, $5. 
 Greenwell & Co's bill for month is $65.20. My man and 
 team worked for Greenwell <fe Co. 5 days @ $3.50 per day. 
 
 March 31. Sold Jennie Mangrmn, on %, 10 lbs. butter @ 
 30c.; 6 doz. eggs, @ 25c. Greenwell & Co's bill is $81.10. Nott's 
 bill is $16.50. I paid Greenwell & Co. cash, $20; and Nott, cash, 
 $10. Deposited $340 in Commercial Bank. 
 
EXAMPLES FOR STATEMENTS. 
 
 April 30, Paid Henry Tucker $50, by check on Commercial 
 Bank. Sold Blanche Tarr, on %, 5 chickens @ 50c.; 6 lbs. butter 
 @ 30c.; 2 boxes apples, @ $1.25. Bill of Greenwell & Co., $35.20. 
 Bill of Nott, $10. Rec'd cash for eggs, $12.50. 
 
 May 31. Gave W. W. Cooper an order on Willis Parker for 
 $40. Paid cash for incidentals, $12.60. Bill of Greenwell & Co. 
 $42.10. Bill of Nott, $8.50. My team has worked for Greenwell 
 & Co. 4 days @ $3.50. Paid cash, S. J. Mercury, $4. 
 
 June 30. Sold A. B. McKean, 8 C. of wheat @ $1.75; 10 lbs. 
 butter at 40c.; received cash, $10. — Bal. on %. Bill of Greenwell 
 & Co. $54. Bill of Nott, $12.25. 
 
 July 31. Received cash for butter and eggs, $13.25. Sold 
 Mattie Powell, on %, 250 lbs. peaches @ l^c; 40 lbs. dried cher- 
 ries @ 12c. Greenwell & Co's bill, $70. Nott's bill, $17.50. Paid 
 for incidentals, $14.25. Paid interest on note held by 0. H. 
 Grubb, $7.50. 
 
 Aug. 31. Paid Henry Tucker, $50 by check on Commercial 
 Bank. Received cash for eggs, butter and vegetables, $38.50. 
 Paid cash for incidentals, $13.75. Bill of Greenwell & Co., $60 
 Nott's bill, $30.50. Sold Nott, on %, 4 pigs @ $2.50. 
 
 Sept. 30. Bill of Greenwell & Co., $84. Nott's bill, $20. Re- 
 ceived cash for butter and eggs, $12.75. Sold James Petray, 8 tons 
 of hay @ $12; and received cash, $40. — Bal. on %. Paid cash 
 for incidentals, $13.10. 
 
 Oct. 31. Paid Greenwell & Co., $50 by check on Commercial 
 Bank. Paid for incidentals, $14.75. Greenwell & Co's bill, $68.40. 
 Nott's bill, $18.20. Received cash for butter and eggs, $19.50. 
 
 Nov. 30. Nott's bill, $7.50. Bill of Greenwell & Co., $45.15. 
 Received cash for butter and eggs, $12. Sold Greenwell & Co., on 
 %, 500 C. of wheat @ $1.70. Sold for cash, 20 tons of hay @ 
 $11.50. Paid note held by 0. H. Grubbs, in hay @ 12 per ton; 
 note and interest being $155.50. 
 
 66 
 
EXAMPLES FOR STATEMENTS. 
 
 Dec. 31. Bill of Greenwell & Co., $28.30. Nott's bill, $8.20. 
 Settled with Henry Tucker and paid him balance due him in 
 cash. Took an Inventory and find value of property on hand, as 
 follows: Farm, $10,200; Buildings and Fixtures, $3,400; Imple- 
 ments, $250; Live-stock, $600; Hay, Grain and Fruit, $1,750. 
 Interest on land, etc., for the year, $800. Make out a Statement 
 showing "Resources and Liabilities, and Gain or Loss. 
 
 Set 9. Rocklin, Jan. 1, 1888. W. R. Bankhead opened 
 a blacksmith shop to-day. Cash on hand $225. Shop and 
 tools valued @ $700. 
 
 Jan. 2. Paid cash for iron, $67.50. Edward Spinks haul- 
 ed the iron and charged us $3 on ^. Shod two horses for 
 Edward Spinks and charged him $4 on ^. 
 
 Jan. 3. Mended buggy for Amy Davis and charged $7.50 
 on ^. Sharpened iron bar for L. F. Puter and charged 
 him $1.10, on ^, Paid cash for beef, 75c. 
 
 Jan. 4. Edward Spinks worked 2 days repairing shop 
 and charged $7 on ^. Bought of F. E. Whitehurst, on ^-^ 
 1 sack flour $1.50; 10 lbs. sugar, $1; 2 gals, syrup, 90c.; 
 100 lbs. potatoes, $1.25. Mended plow for J. A. Cilker and 
 charged $1.75 on ^. 
 
 Jan. 5. Paid cai?h for vegetables, 80c. Shod two horses for 
 H. A. Baggett and charged $3 on ^. Paid cash for coal, 
 $8.50. Bo't of Malsie Livingston, on ^,1 buggy, $35. Mended 
 wagon for F. E. Whitehurst, and charged $2.75 on ^, 
 
 Jan. 6. Received cash for work this week, $11.50. Mend- 
 ed harrow for Edward Spinks and charged $1.50 on ^j. 
 Shod 1 horse for E. D. Martin and charged $2 on ^. 
 
 Jan. 7. Paid Malsie Livingston, on ^, $10. Made 1 
 setofhingeg for H. A. Baggett and charged $1.00 on ^. 
 Shod 1 horse for J. A. Cilker and charged $1.75 on ^. 
 
 Jan. 9. Shod 2 horses for L. F. Puter, $3.50 and made 6 
 staples 75c., charged on ^. Paid cash for beef, $1.25. 
 
 Jan. 10. Bo't of Edward Spinks, on ^, 150 lbs. old iron, 
 @ 2c. Paid cash for insurance, $4.25. Mended harrow 
 and plow for E. M. Griswold, $4.75; charged on ^. Bo't of 
 F. E. Whithurst,on^; 50 lbs. salt, $1.25; 100 lbs. flour, 
 $2.25; 6 gals, coal oil, $1.25. 
 
 Jan. 11. Charged J. R. Mangrum for work, as follows: 
 
 66 
 
EXAMPLES FOR STATEMENTS. 
 
 Shoeing horses, $3.50; repairing reaper, $3.25; 16 bolts, 
 $1.20; 1 chain hook, 75c. Paid cash for sundries, $1.10. 
 
 Jan. 12. Sold E. C. Heintz, on note at 90 days, 1 buggy, 
 $90. Paid cash for books and paper, $3.25. Repaired cart 
 for E. D. Martin and charged $3.50 on ^. 
 
 Jan. 13. Bo't of G. M. Steele, 4 cords of wood @ $6.50, 
 gave him an order on L. F. Puter, for $5. — Bal. on ^. 
 Repaired wagon for J. R. Mangrum and charged $8 on ^. 
 
 Jan. 14. Received cash for work, $16.25. Paid cash for 
 vegetables, $1.20. Shod 2 horses for J. C. Towns, $3.50, 
 charged on ^. Received cash on ^ of J. A. Cilker, $2.50. 
 Repaired wagon for E. M. Griswold and charged $6 on ^. 
 Paid cash for iron, $11.50. Received from J. R. Mangrum, 
 cash, on ^, $3. Repaired buggy for G. M. Steele, $7 
 charged on ^. 
 
 Jan. 16. Repaired garden tools for Amy Davis, $2.20 
 charged on ^. Paid cash for old iron, $1.75. 
 
 Jan. 17. Sold our shop and tools to F. M. May, for $750, 
 received cash, $350 and note at 60 days for balance. Make 
 out a Statement showing Gain or Loss, and Net Capital at 
 closing. 
 
 MODEL SET III. 
 
 In the following set, we have presented a method of keeping 
 accounts, which is used by several large provision merchants 
 in this State. The Day Book, in this set, is a combination of 
 Day Book, Order Book, and Sales Book; some small invoices, 
 also, are entered in it. As in the Day Book models of the 
 preceding sets, To and By have been omitted in the entries, 
 because the terms I>r. and Or., wiitten directly after the party's 
 name, are suflftciently explicit. 
 
 The Ledger of this set, as shown on pp. 72 and 73, has wider 
 pages, which permit us to carry the different items of each Day 
 Book entry on account, in full to the Ledger, where the total 
 cost of each item is placed, in smaller figures, above each of the 
 different items. 
 
 This method of entering the items in fuU on the face of the 
 Ledger, has the advantage that an itemized bill may be made 
 out without referring to the Day Book. 
 
 67 
 
MODEL SET m. 
 
 An Invoice Book, a Memorandum Book, and a Bill Book are 
 also kept Paste the invoices in the Invoice Book, and post 
 those charged to acc^t, directly to the Ledger. 
 
 San Jose, Jan. 1, 1884. Henry Norton and Carl Allen com- 
 mence business with the following resources and liabilities; 
 gains and losses to be divided equally: 
 
 Carl Allen invests, cashj $800; merchandisej $800; personal 
 accounts, as follows: Mamie Murray, $150; Wm. Bacon, $250. 
 G. W. Congdon holds Carl Allen^s note for $100, dated Dec. 
 1, »83, at 90 ds. 
 
 Henry Norton invests, cash^ $1000; merchandise^ $700; note 
 against Blanche Krahl for $300, dated, Nov. 1, ^83, at 60 ds. 
 Henry Norton owes Mattie Trimble $100, on acc^t. 
 
 Jan. 2. Sold Wm. Bacon, on <jfc, 50;^ rice, @ 8^; 5;^ ker- 
 osene, @ 45^; 4# tea, @ 60^. Bo't of W. S. Bailey, for 
 cash, 500 f/^ Lima beans, @ 5^; 400 ;^ salt, @ 2^; 400 ;K sugar, 
 @ 10^. Paid cash for stationery, $2.25. Sold Mamie Murray, 
 50;ff pickles, @ 8^; 80;^ sugar, @ 13^; rec'd 10;^ eggs, @ 
 aO^—balance on acc't Cash sales, $35. 3. Sold Mattie Trimble, 
 on ojc, lOfi vinegar, @ 30^; 8# coffee, @ 20^; 5 ;^ tea, @ 
 50f Bo^t of W. S. Bailey, on <5fc, 100 bbls. flour, @ $5; 300;^ 
 bacon, @ 15f ; 120 ff coffee, @ 15^. Paid cash for insurance, 
 $13.25. Rec^d cash, on ^ of Wm. Bacon, $100. Sold Mattie 
 Trimble, on <^, 2 boxes soap, @ $1.25; 1 sk. flour, $1.50; 1 
 box crackers, $2.10. Rec^d from Mamie Murray, an order on 
 Cora Lee for $50 cash. Cash sales, $25.80. 4. Sold Wm. Bacon, 
 on % 2 sks. flour, @ $1.50; 4;^ tea, @ 75^; 20 # rice, @ 7f 
 Discounted our note held by G. W. Congdon, paying her cash, 
 $95. Rec*d from Blanche Erahl, cash, $100, to be credited on 
 her note. Cash sales, $38.50. 5. Sold C. N. Mills, for cash, 
 \01f starch, @ 12 Jf; 6 chickens, @ 50^; 120 yjK potatoes, @ 
 2^; b ^ syrup, @ 60^. Rec'd from Wm. Bacon, his note at 
 30 ds., to balance acc't. Sold Mamie Murray 50 bbls. flour, @ 
 $6; rec'd her note at 60 ds., for $200 — balance on acc't. Bo't 
 of Mattie Trimble, on % 1,500 ;K dried prunes, @ 10^. Cash 
 sales, $40.80. 6. Debit Carl Allen with Mdse. to date, $58.50. 
 Debit Henry Norton with Mdse. to date, $75. Took an inven- 
 tory and find Mdse. on hand, $2100. 
 
 68 
 
8sT 3.] 
 
 DAY BOOK. 
 
 SAN JOSE, January i, I884. 
 
 Carl Allkn, Cr. 
 
 For Investment as follows: 
 
 Cash 
 
 Mdse 
 
 Mamie Murray's account 
 
 Wm. Bacon's account 
 
 Dr. 
 Note, per B. B 
 
 /# 
 
 Henry Norton, Or. 
 
 For Investment as follows: 
 
 Cash 
 
 Mdse 
 
 Note, per B. B 
 
 Dr. 
 Mattie Trimble, on ojc 
 
 Mamis Murray, Dr, 
 Balance, favor C. Allen. 
 
 // 
 
 Wm. Bacon, Dr. 
 Balance, favor C. Allen 
 
 // 
 
 Mattik Trimble, Or. 
 Balance, due from H. Norton 
 
 2. 
 
 Wm. Bacon, Dr. 
 
 50;Jf Rice, @ 8^ 
 
 5 j^ Kerosene, 45^ 
 
 4;J^Tea. 00^ 
 
 00 
 
 Mamie Murray, Dr. 
 
 60}^ Pickles, @ 8^ 
 
 80;^ Sugar, 13i^ 
 
 Or. 
 
 10 ^ Eggs, @ 30^ 
 
 69 
 
 72 
 
 800 
 800 
 150 
 250 
 
 1000 
 700 
 300 
 
 4 
 
 225 
 
 240 
 
 4 
 10401 
 
 2000' 
 
 100 
 
 2000 
 
 100 
 
 150 
 
 250 
 
 10(1 
 
 865 
 
 14 40 
 
8bt3.] 
 
 DAY BOOK. 
 
 SAX JOSS, Jatituuy S, 1884. 
 
 Mattii T&imbije, Dr, 
 
 10 ]^ Vinegar, @ 30^ 
 
 8 f/i Coffee, 20^ 
 
 5;^Te«, 60^ 
 
 Wm. Baoon, Cr, 
 Cash 
 
 Maitie Trimble, Dr, 
 
 2 boxes Soap, % $1.25 
 
 1 sk. Flour, 1.60 
 
 1 box Crackers, 2.10 
 
 Mamie Muriut, O. 
 Order on Cora Lee 
 
 Wm. Bacon, Dr. 
 
 2 sks. Floor, % $1.60 
 
 4;^Tea, Ibf 
 
 20;ffRice, *Jf 
 
 «. 
 
 C. N. Miu^ Dr. 
 
 10 f/i Starch, @ 12^^ 
 
 6 Chickens, 60^ 
 
 120 ff PoUtoes, 2^ 
 
 5/rSyrup, 60^ 
 
 Wm. Baoon, Cr. 
 Note, to balance accoont 
 
 Mamie Mdrrat, Dr. 
 50 bbls. Floor, @ $6 
 
 Cr. 
 
 Note at 60 ds 
 
 Cakl Allen, i>r. 
 Mdse. to date 
 
 /^ 
 Hkkbt Nobtok, Dr. 
 Mdse. to date 
 
 70 
 
 73 
 
 73 
 73 
 
 72 
 78 
 
 25C 
 
 10 
 
 IOC 
 
 25C 
 150 
 210 
 
 10 
 
 5C 
 
 40 
 
 740 
 
 125) 
 3 
 
 240| 
 3 
 
 S65 
 
 166 05 
 
 300 
 200 
 
 5860 
 
 76 
 
S^r 3.] 
 
 INVOICE BOOK. (Bills Jested in.) 
 
 
 Allkn & Norton, 
 
 San Francisco, Jan. 2, 1884. 
 Bought of W. S. Bailst. 
 
 73 
 
 563 
 150 
 
 
 I 
 
 500 f/i Lima Beans, 
 400 :/f Salt, 
 400 y Sugar, 
 
 Allen & Norton, 
 
 @ 6^ $25. 
 
 2f 8. 
 
 10^ 40. 
 
 $73. 
 Rec'd Payment, — Cash. 
 
 W. S. Bailky. 
 
 
 73 
 
 San Francisco, January 3, 1884. 
 BouglUofVs. S. Bailey. 
 
 
 
 100 bbls. Flour. 
 .300 y Bacon, 
 120 ff Ck)flFee, 
 
 Allkn & Norton, 
 
 @$5 $500. 
 
 15^ 45. 
 
 15^ 18. 
 
 $563. 
 Ch'd to acc't. 
 
 
 73 
 
 San Josk, Jan. 5, 1884. 
 Bought of Mattie Trimble. 
 
 
 
 1,600 ff Dried Prunes, 
 
 @ 10^ $150. 
 
 Ch'd to acc't. 
 
 
 Set 3.] 
 
 CASH BOOK. 
 
 Dr. 
 
 1884 
 Jan. 
 
 Amt. on hand 
 
 Paid W. S. Bailey, Mdse 
 
 Paid for Stationery 
 
 Rec'd for Sales 
 
 Paid for Insurance 
 
 Rec'd of Wm. Bacon, on o^fc 
 
 Rec'd of Cora Lee, per order M. Murray. 
 
 Rec'd for Sales 
 
 Paid G. N. Congdon, on note 
 
 Rec'd of Blanche Krahl, on note 
 
 Rec'd for Sales 
 
 Rec'd of C. N. Mills, Mdse 
 
 Rec'd for Sales 
 
 Balance 
 
 1800 
 
 35 
 
 100 
 50 
 25 
 
 100 
 38 
 
 40 
 
 2199 
 
 80 
 
 965 
 
 71 
 

 O I o 
 
 ^ 
 
 S 
 
 8| 
 
 
 ■=-w 
 
 ¥ 
 
 ^ 
 
 S. 
 
 O I o 
 
 ■^ — ^ 
 
 •i 
 
 
 .1 
 
 
 
 g 
 •n 
 
 H 
 
 s s 
 
 3S 
 
 ■g" 
 
 JJJ. 
 
 Si 
 
 2 o g 
 
 J 
 
 «PQ 
 
 2I5I 
 
 (N W ^ ^ o 
 
 F^ 
 
 
 11^- 
 
 72 
 

 I 
 
 a 
 
 
 o 
 
 oi 
 
 ^ 
 
 fH 
 
 i 
 
 s 
 
 ^ 
 
 
 II 
 
 <rt 
 
 
 
 11 
 
 = 
 
 
 
 T 
 
 "^"^ 
 
 g 
 
 1 
 
 06 
 
 t^ 
 
 i 
 
 s 
 
 JL 
 
 ? 1: 
 
 5^ .5 
 
 8 ^^ a^ 
 
 73 O ^; 
 
 -=; — 5r 
 
 I 
 
 I 
 3 
 
 "35 ^ 
 
 _S2 £2. 
 
 :- -I 
 
 — (N 
 
 ^ « »■ 
 
 i a = § 
 
 f: — <6 S "ST — 
 
 fc t2 
 
 
 
 II 
 
 i 
 
 M 
 
 ^ 
 
 il 
 
 
 1 
 
 eo 
 
 II - 
 
 li 
 
 i 
 
 
 1 
 
 § 
 
 
 
 r~ 
 
 
 
 «o 
 
 1 
 
 il 
 
 
 73 
 
S«T 3.] 
 
 BALANCE SHEET. 
 
 RxsouBcn. 
 
 CMh 
 
 laTentory 
 
 Notes 
 
 Mamie Murray 
 
 C. Alien (Private Acc't) . . , 
 U. Norton (Private Aoc*t) 
 
 2016251 
 
 2100| 
 
 66606 
 
 21140 
 
 5850 
 
 75 
 
 502720 
 
 Liabilities. 
 
 Mattic Trimble 
 
 W. S.Bailey 
 
 C. Allen's Net Investment. . 
 
 H. Norton's Net Investment 
 
 Xet Oain 
 
 23680 
 
 563 
 1900 
 1900 
 
 4£740 
 
 5027 20 
 
 SPECIAL REMARKS ON THE LEDGER. 
 
 Index the Ledger accounts in actual business. This is done 
 by arranging in alphabetical order the account-titles with the 
 Ledger-page of each. This index is usually kept in the begin- 
 ning of the Ledger, but it is often convenient in posting, to 
 have it written on card-board and placed before the book- 
 keeper. In an extensive business the index may be kept in 
 book form, with several pages reserved for each letter of the 
 alphabet The leaves are cut so as to make an offset on which 
 the letters of the alphabet are pasted. Then by placing the 
 thumb on a letter, the book can be thrown open to find any 
 name beginning with that letter. 
 
 Errors in posting may be corrected by drawing a line in 
 red inky or with a pencilj through the error and then posting 
 the entr}' to the proper place. Never erase, as the paper is 
 injured by the operation, and in case the books are brought 
 into Court, it may be difficult to explain the erasure. 
 
 A red ink entry in the Ledger, denotes that the amount 
 thus written is to be transferred, either to some other account, 
 or to another position under the same account. "It also shows 
 that the entry is first made in the Ledger, not having passed 
 through the usual preliminary books of entry. Red ink entries 
 are always transferred to the opposite side from where they 
 are first written, for the reason that they express the excess of 
 that side.'' 
 
 74 
 
PAET II. 
 
 DOUBLE ENTEY, 
 
DOUBLE ENTRY. 
 
 Double Entry is a system of book-keeping in whicli every 
 transaction is tmce entered; first on the debtor side of one or 
 more accounts, and then on the creditor side of one or more 
 other accounts, to which it also belongs. The principle which 
 underlies double entry book-keeping may be pertinently stated 
 thus, — Every debit has its credit — every amount that is charged 
 to one account must be placed to the credit of another. 
 
 For example: a man purchases a bill of merchandise from a 
 merchant; the merchant enters the amount of the merchandise 
 on his books to the debit of the purchaser and to the credit of 
 Mdse. account, one entry thus balancing the other. 
 
 Book-keeping by single entry embraces only the accounts of 
 persons; but in double entry persons and things are alike debited 
 and credited, and accounts are kept not only with individuals, 
 but also with the different species of property in your posses- 
 sion, and with the different branches of your gains and losses. 
 Double Entry enables you, — by thus keeping an account with 
 property — to know the condition of any department of your 
 business at a glance, and gains or losses may be determined 
 by examining only two or three accounts. 
 
 It is a beautiful system — a science in fact, based upon true 
 mathematical principles, aU the elements composing it being so 
 interwoven that a derangement of one can be traced by the 
 efect upon the others; — a perfect, mathematical, and evenly- 
 balanced system of checks and counter-checks, every detail be- 
 ing adjusted with that nicety and precision which produces 
 absolute correctness in results. 
 
 There is a genuine beauty in a mathematical problem, for 
 when it is worked out the solution is susceptible of proof 
 within itself. And so in double entry book-keeping, the cor- 
 rectness of the work can be clearly demonstrated, — the existence 
 of the slightest error being readily detected and the error easily 
 traced. 
 
 MoTK.— In Part II., the period alter common abbroriationa and contractiona, in the follj 
 worked-oQt Model Sets, is omitted. Thia omiasion of the period ia in accordance with the prae* 
 tioe of boaineaa men. 
 
 77 
 
DOUBLE ENTRY BOOKS. 
 
 Accounts in double entry are usiially kept in a '^ set of books* 
 known as Day Book, Journal, Ledger, and Cash Book. In an 
 extensive business, several additional books are needed, such as 
 Invoice Book, Sales Book, Bill Book, Order Book, and others, 
 according to the nature of the transactions. 
 
 The Bay Book contains a plain history of your business 
 transactiouH, ¥rritten in the order of their occurrence. It is 
 customary to open the Day Book by giving a statement of 
 your Assets and Liabilities at the commencement of business, 
 making the entry in history fonn-, and complete, in as few words 
 as possible. 
 
 The Jonmal is used for arranging under Ledger titles the 
 entries that have been previously made in the Day Book, and 
 for affixing to each Ledger title the correct amount of debit 
 or credit ; this is called joumalmng. 
 
 Business men have alMmdoned the use of the Day Book and 
 Jonmal as sepjirate books. The two are usually combined and 
 may be called a Jmtrnal-Day-Book. When combined, the Jour- 
 nal entty is made first, and the Day Book explanation written 
 as briefly as possible either under or at the right of the Jour- 
 nal entry. 
 
 It is true that in practice, the use of the Journal is becoming 
 obsolete, for it only entails additional labor without compen- 
 sating benefits. But when we teach our juniors, we must first 
 let them grasp the system of the Italians, — using Day Book 
 and Journal as separate books — and make them understand its 
 theory, before they can use our short cuts and labor-saving 
 contrivances. It is customary, in journalizing, to write the 
 journal entry as follows: 
 
 Cash J>r. 
 
 To Mdse. 
 
 As the debit account is always above and to the left of 
 the credit, the mere position of the names indicates which is 
 "Dr." and which is "Cr." of the accounts j therefore, "Dr." and 
 ''To'' may be omitted, and the entry made in the following 
 
 manner: 
 
 Cash 
 Mdse, 
 78 
 
DOUBLE ENTRY BOOKS. 
 
 The Journal should have two extra columns, — one for Mdse. 
 Dr., and the other for Mdse. Cr.j by the use of these extra 
 columns, it is unnecessary to post the merchandise oftener than 
 once a month, — crediting Mdse. account in the Ledger at the 
 end of the month for total sales on account, as shown by the 
 Mdse. Cr. column, and debiting it for purchases on account as 
 shown by Mdse. Dr. column. 
 
 The Ledger is the most important book of the series. Its 
 principal use is to collect under one head all sums belonging 
 to the same account. The form and mode of entry in a Double 
 Entry Ledger is similar to Single Entry. The principal differ- 
 ence in the use of the Ledger in the two systems is this: The 
 Single Entry Ledger contains accounts with individuals only, 
 while the Double Entry Ledger contains accounts not only 
 with persons J but with every species of property in which we 
 deal. On the debit side we find Resources and Losses; on the 
 credit side. Liabilities and Gains. 
 
 The Cash Book, as in single entr^-, contains a record of 
 cash transactions; but it may profitably be used as a book of 
 original entry, and the posting done directly therefrom to the 
 Ledger. In making entries in this book sufficient explanation 
 should accompany the entries to make them plain. It is un- 
 necessary to keep a cash account in the Ledger; but, instead, 
 enter on the Trial Balance, when it is taken, the balance or 
 totals of the Cash Book. 
 
 The Sales Book contains a record of Mdse. sales. It is not 
 often used in small establishments, as the sales are generally 
 recorded in the Joumal-Day-Book. When a Sales Book is 
 kept, you may post directly from it to the Ledger, — ^posting 
 the debits to the personal accounts therein charged, and cajry- 
 ing the total sales forward till the end of the month, when 
 Mdse. account is credited in one entry for the total sales of 
 the month. 
 
 The Invoice Book contains a record of Mdse. bought. The 
 following plan of keeping an Invoice Book is simple and 
 I'c.onomical: Get a scrap-book of proper width of page, and 
 rule a single dollar-and-cent column at the right side of each 
 page. Index the book and paste the biUs in alphabetical order, 
 
 79 
 
DOUBLE ENTEY BOOKS. 
 
 according to firm names. Carry the amount of each bill to 
 the money column at the right Post directly from this book to 
 the Ledger,— <srediting the proper account in the Ledger with 
 the amt. of the biU in the Invoice Book, and carrying foi'w^ard 
 tJie totals of the money colimin till the end of the month, when 
 Hdse. account may be debited in one entry for the total pur- 
 chases of the month. 
 
 The Bill Book contains a record of Notes and Time Drafts 
 received and given. The form on page 23, in single entry, 
 will answer for double entry. By changing the ruling of this 
 book, — adding a column or two at the right — all accounts ^vith 
 notes and time drafts may be kept in the Bill Book. Bills 
 Receivable and Bills Payable accounts may then be omitted 
 in the Ledger, but in ma^ng a Trial Balance the same course 
 most be pursued as with the cash account 
 
 PRINCIPLES AND RULES. 
 
 In Double Entry book-keeping, there are three kinds of ac- 
 eounts aside from an account with the proprietor: accounts 
 with persons, accounts with property, and accounts represent- 
 ing allowances made by us, or to us, for interest, discount, 
 eoLchange, premium, storage, commission, expenses, etc., by 
 which we sustain losses or realize gains. 
 
 Accounts may be divided into two classes: one of which is 
 used to designate the Resources and Liabilities, and the other the 
 Losses and Gains. The first may be called Real or Balance ac- 
 counts, and the second, Representative or Loss and Gain accounts. 
 
 When the debit side of an account in the Ledger is the larger, 
 the difference between the two sides is always either a Resource 
 or a Loss. If this difference be anything of value belonging to 
 us, or any note or personal account owing to usj it is a Re- 
 source; if not, it is a Loss. 
 
 When the credit side of an account in the Ledger is the 
 larger, the difference between the two sides is always either a 
 
 80 
 
PRINCIPLES AND RULES. 
 
 Liability or a Grain. If this difference be any note or personal 
 account we owe, it is a Liability; if not, it is a Gain. 
 
 OPENING A SET OF BOOKS. 
 
 As in Single Entry, the proprietor must be credited, in com- 
 mencing business, with his Resources, and debited with his 
 Liabilities. In a partnership business each member of the firm 
 is credited and debited in a similar manner. 
 
 In the Italian system, you make a plain statement in the 
 Day Book, of the condition of the business at commencing, giv- 
 ing a list of the Resources and Liabilities. (See Model Set 1.) 
 
 If you use the Joumal-Day-Book, make the Journal entry 
 first: List of Resources Dr. To Proprietor, and Proprietor Dr. 
 To List of Liabilities J and then make the proper Day Book 
 explanation. (See Model Set 2.) If there are partners, make a 
 similar entry for each one. After making the proper entries in the 
 Day Book, cash on hand should be entered in the Cash Book, 
 notes in the BiU Book, and merchandise in the Invoice Book. 
 
 CLOSING A SET OF BOOKS. 
 
 It is customary in business to close the books once a year, 
 at least. It is usually convenient to close all the accounts at 
 this time, but the results of the year's work may be known 
 by closing only the Loss and Gain accounts. 
 
 First Step. After all the items have been posted, take a 
 Trial Balance of the Ledger accounts, to test the accuracy of 
 the posting. Every debit must have its credit. Hence, if no 
 mistake has been made, the sum of the debits in the Ledger 
 will equal the sum of the credits, and the total footing of 
 either side will equal the footing of the Journal. A Trial Bal- 
 ance is the test of this. In actual business it should be "taken 
 off" at the close of each month. 
 
 A Trial Balance is made by writing the name of each ac- 
 coimt with corresponding aggregate debit and credit amounts. 
 Find the sum of the debits and also of the credits. If the 
 footings agree the Ledger is probably correct. If they do not 
 agree, the error must he found. The first step in the search 
 for the error, is to examine the footings of the Ledger and of 
 
 81 
 
PRINCIPLES AND RULES. 
 
 the Trial Balance, to see if an error lias been made in adding. 
 An error is frequently made by posting an amount to the 
 yroHg side of an account. If this discrepancy is an et^en n umbers 
 take lialf of i*, and examine the books from which you posted 
 to see if such an amount can be found. Correct the error be- 
 fore proceeding further. A shorter Trial Balance may be made 
 by omitting all accounts that balance. 
 
 Second Step. Open an account in the Ledger with "Loss 
 and Oain," and another witli ** Balance;" the former to contain 
 the balances of the Loss and Gain accounts^ and the latter 
 the balances of the accounts showing Resources and Liabilities. 
 
 Third Step. Make out an inventory of all property unsold.. 
 In business, tliis process is called ''taking an account of stock," 
 and consists in actually enumerating the articles, estimating 
 each at its cash value. 
 
 Credit each account for which such property was originally 
 debited, with the value of that unsold, making the entry in 
 red inky using the term ''Balance." Debit Balance account also 
 >vitli this inventor\% making the entrj' in black ink, using the 
 term Merchandise, Real Estate, Expense, etc., as the case may be. 
 
 Fourth Step. Close the accounts in the order in which they 
 occur in the Ledger, omitting the proprietor's or partners' ac- 
 count until all the other accounts have been closed. 
 
 Close a "Representative" account by entering on the smaller 
 side, in red inky the difference between the two sides, using as 
 the closing term, — Loss and Oain. Then rule up the account and 
 bring down the footings, carrying the Balance entry of the Inven- 
 tory, if any, below the rulings on the debit side of the account, — 
 *' Balance," in black ink. Transfer the Loss and Qbih amount to 
 the opposite side of Loss and Gain account, writing, in black ink, 
 the name of the account from which the transfer was made. 
 
 Close an account showing Resources and Liabilities, by en- 
 tering on the smaller side, in red ink, the difference between 
 the two sides, using the term "Balance." Rule and foot the 
 account-, and carry the balance below the rulings, in black ink, 
 placing it on the opposite side from its position above. Trans- 
 fer the red ink entry, — "Balance," to the proper side of Balance 
 account. 
 
 tt 
 
PRINCIPLES AND RULES. 
 
 The Loss and Gain account will now show on the debit 
 side all the losses, and on the credit side aU the gains, — the 
 difference between the two sides being the net losSy or the nei 
 gain. 
 
 The Balance account wUl now show on the debit side aU 
 the Resources, and on the credit side aU the Liabilities, — the 
 difference between the two sides being the net capital or the 
 net insolvency of the proprietor. 
 
 Fifth Step. Close Loss and Gain account into the Proprie- 
 tor's account, or if it be a partnership business, into the 
 partners' accounts, dividing the profits or losses according to 
 agreement. The difference between the two sides will be 
 entered on the smaller side, in red inky — the closing term being 
 the Proprietor's name or "Stock." 
 
 The difference between the two sides of the Proprietor's 
 account will now show the same result as Balance account, — 
 net capital at closing. 
 
 Sixth Step. Close Balance account into the Proprietor's, or 
 the Proprietor's account into Balance, as you please; in either 
 case, the account which is closed last should exactly balance. 
 ^See diagram, page 89; or model, page 96.) 
 
 RULES FOR JOURNALIZING. 
 
 "There is no infallible rule for journalizing — no single state- 
 ment that wiU apply logically and with equal force to the record 
 of all transactions;" but the student wiU find the following form- 
 ulas valuable: 
 
 Debit what we receive ) 
 what costs us value. 
 
 LIST OF DEBITS. 
 
 Cash received. 
 Others' notes received. 
 Our notes redeemed. 
 What others owe us. 
 Capital withdrawn. 
 Outlay or loss. 
 
 or 
 
 Credit what we give, 
 what produces us value. 
 
 LIST OF CREDITS 
 
 Cash paid. 
 
 Others' notes disposed of. 
 Our notes issued. 
 What we owe others. 
 Capital invested. 
 Returns or gains. 
 
 or 
 
 83 
 
PRINCIPLES AND RULES. 
 
 TH£ PROPRIETOR. 
 
 Debit the Proprietor for his 
 liabilities assumed by the busi- 
 neeSy for all cash, Mdse., etc.^ 
 withdrawn for private use. In 
 a firm, debit each partner in a 
 similar manner. 
 
 Credit the Proprietor for what 
 he invests at commencement of 
 business, and for all subsequent 
 investments. In a firm, credit 
 each partner in a similar man- 
 ner. 
 
 The title "Stock" is sometimes used in place of the Pro- 
 prietor's name. 
 
 Debit for amt on hand at 
 commencing, for all we buy, 
 and for any returned to us. 
 
 MEBCHANDISK. 
 
 Credit for all we sell, and 
 for any that we return. At 
 closing, credit for amt. on hand. 
 
 Under the title "Mdae.," we include all goods in which the 
 proprietor is dealing. If we wish to exhibit results in detail, 
 we may open accounts with flour, clothing, etc., instead of unit- 
 ing these various articles' under the general head. 
 
 Debit with any outlay for 
 carrying on the business. 
 
 Credit for anything disposed 
 of, which was previously del)- 
 ited to Expense. At closing, 
 credit for amt. on hand. 
 
 Under the title, "Expense," we generally include such items 
 as rent, salaries, fuel, light, office books, office furniture, insur- 
 ance, repairs, etc. 
 
 BIIX8 RECEIVABLE. 
 
 Debit for all written prom- 
 ises to pay, of other parties, 
 when received. 
 
 Credit for the written prom- 
 ises to pay, of other parties, 
 when paid or otherwise dis- 
 posed of. 
 
 Under the title, "Bills Receivable," we include. Time Notes, 
 and Drafts. Drafts are sometimes called Acceptances. Debit 
 and credit Bills Receivable, for the face value of notes and drafts. 
 The difference between the two sides will show BiUs Receiv- 
 able on hand. 
 
 84 
 
PRINCIPLES' AND RULES, 
 
 Debit whenever we pay notes 
 and drafts we owe. 
 
 BUXS PAYABLE. 
 
 Credit for our notes when 
 issued, and for drafts we ac- 
 cept. 
 
 Under the title, "Bills Payable," we include notes and ac- 
 cepted drafts, due at some future time. The difference between 
 the two sides will show the Bills Payable outstanding. 
 
 CASH. 
 
 Debit when received. | Credit when paid out. 
 
 Under the title, "Cash," we include currency, checks, postal 
 orders, sight drafts, and, generally, all kinds of paper payable 
 on demand. A cash account should not be kept in the Ledger, 
 as the Cash Book gives aU the information needed. It is un- 
 necessary' labor to keep a bank account in the Ledger. You 
 may consider the amount on deposit as so much cash on hand, 
 and keep an account with the bank in the check book. 
 
 INTEREST AND DISCOUNT. 
 
 Debit when allowed t-o others. | Credit when allowed to us. 
 
 Interest is the compensation allowed for the use of money j 
 and discount is the allowance made for the payment of a debt 
 before it is due. "When we allow or pay for the use of money, 
 we debit Interest for the use of the money which we receivef 
 and credit Cash for the cash we gwe for the use of that money. 
 When we are paid for the use of money which we have loaned, 
 we debit Cash for the cash we receive^ and credit Interest for 
 the use of the money we give. 
 
 "When we need money, we sometimes take the notes which 
 we hold against others to a bank and get them ^ discounted.^ 
 If the notes are not drawing interest, the banker deducts a 
 certain amount from the face of the note, and gives us the 
 balance in cash. The amount which he deducts is the 'dis- 
 count,' or the sum we pay him for the use of the money for 
 the unexpired time of the note." 
 
 The above rules will apply also to such accounts as Storage, 
 Commission, Exchange, etc 
 
PRINCIPLES AND RULES. 
 
 RKAI. KSTATK. 
 
 Debit for cost | Credit for returns. 
 
 Under the title, " Real Estate," we include, farms, lots, houses, 
 etc. In practice we usually keep a separate account with each 
 kind of real estate, and the general term — Real Estate — is not 
 needed. 
 
 PERSONAI. ACCOnXTS. 
 
 Debit, at commencement^ for 
 what they owe us; and debit 
 for everj'thing we let them have 
 on account. 
 
 Credit, at commencement, for 
 what we owe them; and credit 
 them for all we receive on ac- 
 count. 
 
 Under this heading we include persons, firms, and corpora- 
 tions. If the debit side of a personal ticcount is the larger, the 
 difference between the two sides is a Resource. If the credit 
 side is the larger, the difference is a Liability. 
 
 I^OflT ACCOUlfTS AND NOTES. 
 
 Credit for amounts that are 
 afterwards paid on accounts 
 and notes, which we had deb- 
 ited to this account. 
 
 Debit for amounts we lose 
 on accounts and notes )>y per- 
 sons failing in business, mak- 
 ing assignments, etc. 
 
 Close this account into Loss and Gain. This account is not 
 usually opened in the Ledger; but it will pay to keep it for 
 the infonnadon it furnishes in a condensed form. If not kept, 
 the worthless personal accounts should be separately (closed into 
 Loss and Gain, and the amounts lost on notes and drafts be 
 charged to the same account. In closing an account which is 
 e$Uirely worthUss^ credit it in red ink, — ''Lost Accounts and 
 Notes," for the balance of the account, and carry this balance 
 to the debit side of Loss and Gain account, writing the name 
 of the account from which it was transferred. 
 
 Posting is carrying accounts to the Ledger. An account is 
 opened in the Ledger with everj' debit and credit item found in the 
 JoumaL Every debit item in the Journal must be placed on the 
 debit side of its account in the Ledger, and every credit in the 
 Journal on the credit side of its account in the Ledger. The 
 date of the item in the Journal is carried with it to the Ledger. 
 
PRINCIPLES AND RULES. 
 
 In posting debit items, write as an explanation in the Ledger 
 account, the name of the credit item; and in posting credit 
 items, write as an explanation in the Ledger account, the name 
 of the debit item. The page of the Ledger is entered in the 
 Journal, and the page of the Journal, in the Ledger. 
 
 Sundries is a technical term frequently used in book-keeping. 
 It simply means various accounts, and is convenient as a 
 Journal expression, to avoid the necessity of enumerating the 
 items which comprise the totals carried to the Ledger accounts. 
 It need not be written in the Journal, but may be understood 
 when posting the totals. (See Model, page 93.) 
 
 Loss and Gain account generally receives the balance of 
 the following accounts, for they are usually speculative in 
 character and show losses or gains: Merchandise, Expense, 
 Interest and Discount, Real Estate, Commission, etc. 
 
 Balance account generally receives the balances of the fol- 
 lowing accounts, for they usually show resources or liabilities: 
 Cash, Bills Payable, Bills Receivable, Personal accounts, etc. 
 
 Change Single Entry to Double Entry in the following manner : 
 
 First. — Take an inventory of Mdse., and aU other property on 
 hand not at present represented in the Ledger j open an ac- 
 count in the Ledger for each kind of property, — Merchandise, 
 Bills Payable, Bills Receivable, Cash, Expense, Interest and 
 
 Discount, Real Estate, etc and debit these accounts for the 
 
 total value of each as represented in the inventory. Also, 
 credit the parties from whom we received notes, with the 
 amount of such notes, if they were not credited with the notes 
 at the time received; and debit the parties to whom we gave 
 notes, with the amount of such notes, if they were not debited 
 at the time the notes were issued. 
 
 Second. — Make out a "statement" in the usual manner — placing 
 all the Resources on one side and the Liabilities on the other. 
 The difference between the two sides of the Statement will be 
 the Present Worth, and by comparing it with the Net Capital 
 at commencing, the lois or gain will be found. Enter this 
 amt. as "Loss and Grain" in the Ledger, on the proper side of 
 the Proprietor's account — ^if it is a G^ain, on the credit side, if 
 a Loss, on the debit side. 
 
 87 
 
PRINCIPLES AND RULES. 
 
 Third. — Take a Trial Balance of the Ledger, for after the 
 change to Double Entry has been made, your Ledger must 
 balance, because all your Resources appear upon the debit 
 side, and all your Liabilities and the Present Worth appear 
 upon the credit side. 
 
 Partnership Change. In taking a new partner into the busi 
 ness, it is usually best to close the books at the time the 
 change is made, and to make out a Balance Sheet, in order 
 that the present condition of the business may be shown in a 
 condensed form. Wlien this is done, the Ledger exhibits 
 on its face nothing but those accounts which are either Re- 
 sources or Liabilities; it also shows the "present net worth" of 
 the proprietor, or of each of the old partners. The new partner 
 may now be credited with his net investment. 
 
 A Balance Sheet or Statement is usually made out once a 
 month, in order that the proprietor may know how his busi- 
 ness is progressing. At the close of the month, after the Trial 
 Balance has been taken, it is the best time for preparing this 
 Statement. The forms in use are various, according to the 
 necessities of the occasion and the ingenuity of the accountant. 
 The process of showing results is precisely similar in its order, 
 and the results the same as in "closing the Ledger," which 
 latter operation has already been fully explained. A Form, 
 showing a combined Trial Balance and Balance Sheet, will be 
 found on page 106. 
 
 Correcting Errors. When an entry is posted to the wrong 
 side of an account, draw a red line through the amount of 
 such error, and then post the amount as it should have been 
 posted. 
 
 Errors in the Journal can be, in- many cases, corrected by 
 canceling one or two figures with a pencil, and writing the 
 correct ones above. 
 
 When a Journal entry has not been posted at the proper 
 time, do not make the date column of your Ledger show dates 
 improperly, as, for example, that March comes after April, but 
 post the entry under the date of • the last entry, giving the 
 proper date, in parentheses, 'x) right of explanation column; 
 thus: (March 10). 
 
 88 
 
> 
 
 o 
 w 
 
 w 
 w 
 o 
 
PRINCIPLES AND RULES. 
 EXAMPLES OF JOURNALIZING. 
 
 DAY BOOK RECORD. 
 
 1200 
 2050 
 
 2000 
 
 530 
 
 1200 
 
 800 
 
 75 
 
 500 
 
 220 
 40 
 
 100 
 
 JOURNAL ENTRY. 
 
 1200 
 
 700 
 300 
 150 
 900 
 
 900 
 600 
 400 
 200 
 
 530 
 
 1200 
 
 800 
 
 75 
 
 600 
 
 220 
 
 40 
 100 
 
 
 
 1. Cash 
 
 
 this day, with Cash 
 
 C. P. Evans 
 
 1700 
 
 
 
 9 f! T* T<!\r&na r>ntnirtpnfv>(1 KiiainAfut 
 
 2. Cash 
 
 
 with Resources as follows : 
 
 Cash, per C.B $700 
 
 Notes, per B. B 300 
 
 Bills Rec 
 
 J. F. Utter 
 
 Mdse 
 
 
 J. F. Utter owes on <^ 150 
 
 Md8e.,perl. B 900 
 
 C. P. Evans 
 
 2060 
 
 3. C. P. Evans commenced business 
 
 3. Mdse 
 
 
 with Resources and Liabilities as 
 
 Cash 
 
 
 follows: 
 
 Bttources. 
 
 Mdse., perl. B $900 
 
 Cash,p«rC.B 500 
 
 Notes, per B.B 400 
 
 Frank Graham owes on «^ . . 200 
 
 LiabUUU«. 
 Jas. Nnnnelly, due him on ^ 180 
 Bills Payable, per B. B 350 
 
 Bills Rec 
 
 Frank Graham 
 
 C. P. Evans 
 
 C. P. Evans 
 
 Jas. Nunnelly . . . 
 Bills Pay 
 
 2000 
 
 180 
 360 
 
 A T^^*f nf T.n^iiis Allpn for r^ojiVi 
 
 4. Mdse 
 
 
 200bbl8. Flour, @ $6 
 
 Cash 
 
 1200 
 
 
 
 5. Sold H. Witherspoon, for cash, 
 100bbl8.Beef, @$8 
 
 6. Cash 
 
 
 Mdse 
 
 800 
 
 
 
 6. Bo't of R. D. Sinnott, on <^, 
 500 J^ Dried Prunes, @ 15< 
 
 6. Mdse 
 
 
 R. D. Sinnott .... 
 
 75 
 
 7. Sold Ida Jones, on note at 90 ds. , 
 
 7. Bills Rec 
 
 
 50 bbls. Flour, @ $6 $300 
 
 10 bbls. Beef, @ $20 200 
 
 Mdse 
 
 600 
 
 
 
 8. Bo't of Frank Canch, on note at 
 
 8. Mdse 
 
 
 60 ds., 
 
 200 jl^ lima Beans, @5^..$ 10 
 
 1,400 ^ Dried Peaches, @ 15^ 210 
 
 Bills Pay 
 
 220 
 
 9. Paid rent for store, in cash 
 
 
 
 
 Cash 
 
 40 
 
 
 
 
 10. Reed of G. W. Koch, cash on 
 
 10. Cash 
 
 
 OL 
 
 G. W. Koch 
 
 100 
 
 
 
 90 
 
PRINCIPLES AND EXILES. 
 
 DAY BOOK RECORD. 
 
 500 
 125 
 
 150 
 300 
 
 100 
 200 
 
 250 
 
 100 
 200 
 
 300 
 280 
 312 
 250 
 
 11. 
 
 JOURNAL. ENTRY. 
 
 150 
 350 
 
 125 
 
 150 
 300 
 300 
 
 2.')0 
 
 100 
 200 
 
 290 
 10 
 
 280 
 
 
 11. Sold Marine Gage, 
 
 25 bbls. Beef, @ $20 
 
 Cash 
 
 
 Marine Gage 
 
 
 Rec'd in payment, cash. . . .$150 
 Balance on account 350 
 
 Mdse 
 
 500 
 
 
 
 12. Bo't of Kate Bromley, 
 
 500 fl Raisins, @ 25^ 
 
 12. 
 
 Mdse 
 
 
 Bills Pay 
 
 Kate Bromley .... 
 
 100 
 
 Gave my note for $100 
 
 Balance on (% 25 
 
 25 
 
 13. Paid my note of the 5th inst., 
 favor of Fanny Stockton, in cash 
 
 13. 
 
 Bills Pay 
 
 
 Cash 
 
 ino 
 
 
 
 14. Bo't safe for office, and paid cash 
 
 14. 
 
 Expense 
 
 
 Cash 
 
 300 
 
 
 
 
 15. Paid Arthur Braly, to apply on 
 account, caflh 
 
 15. 
 
 Arthur Braly 
 
 
 Cash 
 
 100 
 
 My note at 30 ds 
 
 Bills Pay 
 
 •TOO 
 
 
 
 16. Sold my office safe to W. B. 
 Zimmerman, and received his 
 note at 60 ds 
 
 16. 
 
 Bills Rec 
 
 
 Expanse 
 
 250 
 
 
 
 17. Rec'd of Martha Bradley, to bal- 
 ance account. 
 
 17. 
 
 Cash 
 
 
 Bills Rec 
 
 
 Cash 
 
 Martha Bradley . . 
 
 :^oo 
 
 Note at 60 da 
 
 
 
 
 18. Paid my note of lOth inst., favor 
 of Mary Young, with interest, 
 in cash ........ .... . ^ , , , 
 
 18. 
 
 Bills Pay 
 
 
 Interest 
 
 
 Cash 
 
 ?oo 
 
 Face of Note $290 
 
 Interest to date 10 
 
 
 
 
 
 19. Prepaid my note of 8th inst., 
 favor Agues Spatz 
 
 19. 
 
 Bills Pay 
 
 
 Discount 
 
 6 
 
 Discount off, 20 ds $ 6 
 
 Paid balance in cash 274 
 
 Cash 
 
 274 
 
 
 
 20. Mary Harriman prepaid her note 
 
 20. 
 
 Discount 
 
 12 
 300 
 
 
 Cash 
 
 
 Discount off, 1 mo $ 12 
 
 Rec'd balance in cash 300 
 
 Bills Rec 
 
 312 
 
 21. Accepted Dora Perry's draft on 
 me for 
 
 21. 
 
 Dora Perry 
 
 2.501 
 
 Bills Pay 
 
 1 250 
 
 
 
 . 
 
 91 
 
PRINCIPLES AND RULES. 
 
 DAT BOOK RECORD. 
 
 22. 
 
 We hold a note against John 
 Doe, and we learn that he died 
 on the 5th inst., insolvent. 
 Face of Note 
 
 23. Richard Roe has failed in busi- 
 ness, and we have lost his acc't. 
 Amt 
 
 24. Sold Carrie Claypool, 
 
 100 if Sugar, @ 12^ 
 
 Rec'd 10 ff Eggs, @ 30< $3 
 
 Cash for balance 
 
 25. 
 
 Exchanged Notes M-ith John A. 
 Price for mutual accommodation. 
 Face of each Note 
 
 26. Gave Rol>ert Adcock an onler 
 on A. M. Falkner, for Mdse 
 
 27. Rec'd an order, signed by W. 
 H. Bailey, requesting lis to let 
 Frank Porter have Mdse . .' 
 
 28. Bo't a bill of Mdse. of H. W. 
 Prouse, and sent him a sight 
 draft on Braly & Co. for the amt. 
 
 29. Rec'd from John Bull, a Bill of 
 Exchange, at 30 ds. to balance 
 his acc't. Amt. of Bill 
 
 30. Paid Clerk's salary by check on 
 Bank of San Jose 
 
 31. Accepted W. B. Zimmerman's 
 draft on us at 10 days' sight, 
 favor of F..S. Conn 
 
 32. Prepaid our acceptance in favor 
 
 F. S. Conn 
 
 Discount oflf, 10 ds | 3 
 
 Cash for balance 97 
 
 33. Debit the person who draws the 
 draft on you 
 
 200 
 
 100 
 
 12 
 
 200 
 
 7m 
 
 500 
 
 80 
 
 100 
 
 100 
 
 JOURNAL, ENTRY. 
 
 22. Loss and Gain . 
 Bills Rec . 
 
 NoTf..— When we have several 
 bad nute« and accounts, open an 
 account with "Ijost Notes and 
 Accouuta," and charge that acc't 
 w ith the 22d and 23d, instead uf 
 Ia^hh and Cain. 
 
 23. 
 
 1 .oss and ( iain . . . 
 Richard Roe 
 
 24. Mdse. ... 
 
 Cash 
 
 Mdse. 
 
 25. BilU Rec ... . 
 Bills Pay 
 
 26. Robt. Adcock 
 
 A. M. Falkner 
 
 27. W. H. Bailey 
 Mdse . . . . 
 
 28. Mdse 
 
 Braly & Co. . 
 8ight Draft. 
 
 29. Bills Rec 
 
 John Bull 
 
 .30. Expense 
 
 Bank San Jose 
 
 31. W. B. Zimmerman 
 Bills Pay 
 
 32. Bills Pay . . . . 
 Discount 
 Cash .... 
 
 33. Credit the person on 
 whom you dra\i' a draft. 
 
 200 
 
 200 
 
 100 
 
 200 
 
 25 
 
 30 
 
 300 
 
 500 
 
 80 
 
 100 
 
 100 
 
 100 
 
 12 
 
 200 
 
 25 
 30 
 
 .300 
 
 500 
 
 80 
 100 
 
 3 
 
 97 
 
 92 
 
DAY BOOK. 
 
 Set 1.] SITKA, May 1, J884. 
 
 Herbert Bushnell commenced business by investing as follows: 
 
 Merchandise, per I. B 
 
 Cash 
 
 Note, per B. B 
 
 2. 
 
 Bo't of Oliver Webb, 
 
 40 pre. Blankets, @ $6 
 
 100 J^ Sheeting, @ 15^ 
 
 Paid cash $80. 
 
 Balance on ojfe 175. 
 
 Sold Loyd Childs, on ajc, 
 
 1 Otter Cap 
 
 5 Seal Skins, @ $5.50 
 
 // 
 SoKl James Low, on note, at 60 days, 
 
 6 pre. Blankets, @ $10 
 
 1 Beaver Robe 
 
 // 
 Cash sales to-day 
 
 3. 
 
 Paid cash for insurance 
 
 // 
 
 Rec'd cash of Loyd Childs, on ^ 
 
 / 
 Rec'd Cash of Arthur Knox, part payment of his note of Ist inst 
 
 Sold Loyd Childs, on <%, 
 
 4 Bear. Skins, @ $18 
 
 Sold Oliver Webb, on ^, 
 
 1 case Salmon 
 
 // 
 Cash sales to-day 
 
 4. 
 
 Paid Oliver Webb, cash on ojc 
 
 // 
 Bo't of Whale & Co. , on our note at 30 days, 
 
 Invoice of Mdse 
 
 Laventory.— Mdse., $1,190. 
 
 93 
 
 1000 
 800 
 200 
 
 240 
 15 
 
 2000 
 
 255 
 
 350 
 2750 
 
 60 
 
 40 
 
 50 
 
 31 
 
 100 
 
 45 
 
 12 
 10 
 
 50 
 
 72 
 
 75 
 60 
 
 70 
 
 200 
 1298050 
 
Set 1.] 
 
 JOUENAL. 
 
 SITKA, May 1, 1884. 
 
 Db. Ct. 
 
 Mdse . . . . 
 
 Cash 
 
 fiilU Rec 
 
 Herbert Bashnell. 
 
 2. 
 
 Mdse 
 
 C««h 
 
 Oliver Webb. 
 
 Loyd Childs. 
 Bills Rec ... 
 Cash 
 
 Mdse 
 
 Mdse 
 
 Mdae. 
 
 3. 
 
 Expense . 
 
 Cash. 
 
 Cash, 
 
 Loyd Childs. 
 
 Cash 
 
 Loyd Childs. 
 Oliver Webb. 
 Cash 
 
 Bills Rec. 
 
 Mdse 
 
 Mdse 
 
 Mdse. 
 
 Oliver Webb. 
 Mdae 
 
 Cash 
 
 Bills Payable 
 
 1000 
 800 
 200 
 
 255 
 
 31 
 
 100 
 
 45 
 
 12501 
 
 10 
 
 50 
 
 72 
 
 75 
 
 60 
 
 70 
 200 
 
 2uO0 
 
 80 
 175 
 
 31 
 
 100 
 
 45 
 
 50 
 72 
 76 
 
 70 
 
 200 
 
 1250 
 
 10 
 
 94 
 
Set 1.] 
 
 LEDOER. 
 HERBERT BUSHNELL. 
 
 1884 
 May 
 
 6 Balance, 
 
 210550 M 
 
 210550 
 
 1884 
 ay 1 
 
 Sundries 
 
 Loss and Gain 
 
 94 
 
 2000 
 10550 
 
 2105 
 
 50 
 
 MERGHAKDISE. 
 
 1884 
 May 
 
 Herbert Bushnell. 
 
 Sundries. 
 
 Bills Pay 
 
 5] Lofts and Gain. . . . 
 
 1000 
 255 
 200 
 
 lis 
 
 1673 
 
 1884 
 May 
 
 Loyd Childs. 
 
 BUlsRec 
 
 Cash 
 
 Loyd Childs. 
 Oliver Webb. 
 
 Cash 
 
 Balance. , 
 
 94 
 
 31 
 
 94 
 
 100 
 
 94 
 
 45 
 
 94 
 
 72 
 
 94 
 
 75 
 
 94 
 
 60 
 
 
 1190 
 
 
 1673 
 
 CASH. 
 
 1884 
 May 
 
 Herbert Bushnell. 
 
 Mdse 
 
 Loyd Childs 
 
 3 Bills Rec. 
 
 Mdse 
 
 800 
 45 
 10 
 50 
 
 965 
 
 1884 
 May 
 
 Mdse 
 
 i| Expense 
 
 Oliver Webb. 
 Balance . . 
 
 1250 
 70 
 
 802 
 
 965 
 
 BILLS RECEIVABLE, 
 
 1884 
 May 
 
 Herbert Bushnell 
 
 Mdse 
 
 
 
 
 1884 
 
 
 94 
 
 200 
 
 
 May 
 
 3 
 
 94 
 
 100 
 
 
 (< 
 
 5 
 
 300 
 
 
 Cash 
 
 Balance. 
 
 H 
 
 50 
 
 £50 
 
 300 
 
 OLIVER WEBB, 
 
 1884 
 May 
 
 Mdse 
 
 Cash , 
 
 Balance 
 
 
 
 
 1884 
 
 
 94 
 
 75 
 70 
 
 
 May 
 
 2 
 
 
 SO 
 175 
 
 _ 
 
 
 
 Mdse 
 
 94 
 
 175 
 
 175 
 
 95 
 
8rr 1.] 
 
 LEDGER. 
 LOYD CHILDS. 
 
 18841 
 Mav 
 
 Mdse 
 Mdse 
 
 31 
 
 103 
 
 May 
 
 I8S4 
 
 3 Cash 
 
 Balance. 
 
 94 
 
 101 
 
 9Si 
 
 103 
 
 BILLS PAYABLE, 
 
 1884 J 
 
 May _S\ Balance , 
 
 £00 
 
 11884 
 [May 
 
 4 Mdse 
 
 •H 
 
 200 
 
 EXPENSE. 
 
 1884 
 
 May SiCash |94{ 
 
 yI884 I 
 May] ^ 
 
 Lori/) oTui (7ain. 
 
 ifk? 
 
 XOiS-Sf AND OAIK, 
 
 1884 
 May 
 
 5 Expense 
 
 Herbert Bushnell. 
 
 118 
 
 1884 
 12150 May 
 10550 
 
 Mdse 
 
 118 
 T18 
 
 BALANCE. 
 
 18841 
 May 
 
 51 Mdse 
 
 Cash 
 
 Bills Rec... 
 Loyd Childs. 
 
 1190 
 802501 
 250 
 93 
 
 233550 
 
 1884 
 May 
 
 5 Oliver Webb . 
 
 Bills Pay 
 
 Herbert Bashnell. 
 
 30 
 
 200 
 
 210550 
 
 233550 
 
 TRIAL BALANCE. 
 
 Face of the Ledger. 
 
 Dr. Cr. 
 
 Herbert Bnslmell . 
 
 Mdse 
 
 Cash 
 
 BillsRec.... 
 
 Oliver Webb 
 
 Loyd Childs 
 
 Bills Pay 
 
 Expense 
 
 1455 
 965 
 300 
 145 
 103 
 
 298050 
 
 1250 
 
 12000 
 383 
 .16250 
 
 50 
 175 
 
 10 
 200 
 
 298050 
 
 96 
 
MODEL SET 11. 
 
 The books of this set are the Journal-Day Book, the Ledger, 
 Cash Book, and Bill Book. Methods of combining Day Book 
 and Journal are shown on p. 98, and on pp. 99 and 100. On p. 
 100, a third column is added, for the Sales Book. 
 
 San Francisco, Jan. 2, 1884. Marine Gage and C. W. Mills 
 commenced business as partners, under the firm name of G^age 
 & Mills. 
 
 Marine Gage invests Mdse., $1500; cash, $1000 j his liabilities, 
 which the firm agrees to assume, consist of a note, favor of Clara 
 Shaw, dated Dec. 1, '83, at 60 ds., amt. $200. 
 
 C. W. MiUs invests cash, $2000 j note for $300, against C. F. 
 Neil, dated Jan. 2, '84, at 30 ds. 
 
 Jan. 2. Bo't of H. D. HoUingsworth, for cash, a biU of 
 Mdse., $900. Sold Mabel Field, on ^, 1 shawl, $10; IS J^ 
 Parsee cloth, @ 90^; 1 pr. gloves, $1.75. Sold H. R. Bailey, on 
 note at 60 ds., bill of Mdse., $175. Cash sales to-day, $70. 3. 
 Paid cash for insurance, $15.25. Sold Eva Hasty, on ^, biU of 
 Mdse., $60. Sold Hiram Pawley a bill of Mdse., $120; rec'd 
 cash, $80; — ^balance on ^. Paid cash for stationery and stamps, 
 $6.25. Cash sales to-day, $65.50. 4. Sold Eva Hasty, on % 1 
 pr. gaiters, $3.25; 18 ^f Pacific lawns, @ 50f Sold Henry 
 Hardcase, on <^, a bill of Mdse., $75. Rec'd of C. F. Neil, in 
 part payment of her note of 1st inst, $200. Cash sales to-day, 
 $40. 5. Sold Peter Tramp, on note at 60 ds., bill of Mdse., 
 $100. Deposited $2000 in Commercial Bank. Paid clerk's 
 salary, $70, by check on Commercial Bank. Cash sales to-day, 
 $60. 6. Bo't of Frank Porter, a bill of Mdse., $150; gave him, 
 in part payment, C. F. Neil's note, — amt. still due on it, $100; — 
 balance on ^. Paid rent for store, $40, by check on Commer- 
 cial Bank. Deposited in the bank, $80. Cash sales to-day, $35. 
 8. Rec'd cash on ^, of Mabel Field, $12. Discounted Gage's 
 note, favor Clara Shaw, and paid for same by check on Com- 
 mercial Bank, $192. Sold Hiram Pawley, on ^, a bill of Mdse., 
 $80. Cash sales to-day, $61.10. 9. Henry Hardcase died, in- 
 solvent, on the 6th inst., and Peter Tramp absconded on the 
 7th. Sold Eva Hasty, on <jh, a bill of Mdse., $30. Cash sales 
 to-day, $58. 10. Sold Mabel Field, on ^, a bill of Mdse., $40 
 Tr^lr an inventory, and found Mdse. on hand, $1480 
 
 97 
 
JOURNAL-DAY BOOK. 
 
 S»i2.] 
 
 SAN FRANCISCO, January f, 188J^ 
 
 Dit 
 
 
 C«. 
 
 
 101 
 101 
 
 Commenced business as per agreement in M. B. 
 Cash, On hand, 
 Mdse., In store, 
 Marine Gage, Investment, 
 
 1000 
 1600 
 
 
 2500 
 
 r* 
 
 
 101 
 102 
 
 Marine Gage, Note, favor Clara Shaw, dated 
 Bills Payable, [Dec. 1, '83, at 60 ds. 
 
 200 
 
 
 200 
 
 
 
 102 
 101 
 
 Cash, 
 
 Bills Receivable, 
 
 C.N. Millie 
 
 On hand, 
 
 Note, as per B. B. 
 
 , Investment, 
 
 2000 
 300 
 
 
 2300 
 
 
 
 101 
 
 Mdse., 
 
 Cash. 
 
 Bo't of H. D. Hollingsworth, 
 [as per I. B. 
 
 900 
 
 
 900 
 
 
 
 102 
 101 
 
 102 
 101 
 
 Mabel Field, 
 
 MdM., 
 
 Bills Receivable, 
 Mdae., 
 
 1 Shawl, . $10. 
 18 # Parsee cloth, @ 90< 16.20 
 1 pr. Gloves, - • 1.76 
 
 27 
 175 
 
 95 
 
 27 
 175 
 
 95 
 
 
 // 
 
 Sold H. R. BaUey on note, 
 [as per B. R 
 
 
 
 101 
 
 Cash. 
 
 Md.e.. 
 
 Cash sales. 
 
 70 
 
 
 70 
 
 
 
 102 
 
 Expense, 
 
 CMh, • 
 
 8. 
 
 Ptdd for Intnrance, 
 
 0* 
 
 BOlof Mdse., 
 
 15 
 
 25 
 
 15 
 
 25 
 
 
 102 
 101 
 
 Eva Hasty, 
 
 Mdse., 
 
 60 
 
 
 60 
 
 
 
 103 
 101 
 
 Cash, 
 
 Hiram Pawley, 
 MdM)., 
 
 Sold H. Pawley, Mdse, and 
 [received part payment. 
 
 80 
 40 
 
 
 120 
 
 
 
 102 
 
 Expense, 
 
 C-ih. 
 
 Paid fen* stationery and stamps. 
 
 6 
 
 25 
 
 6 
 
 25 
 
 
 101 
 
 Cash. 
 
 Mdse., 
 
 Cash sales, 
 Amt. forward, 
 
 65 
 643^ 
 
 50 
 95 
 
 65 
 6439 
 
 50 
 95 
 
 9S 
 
Set 2.] 
 
 JOUENAL-DAY BOOK. 
 
 8AN FRANCISCO, January 4, I884. 
 
 Forward 
 
 Eva Hasty 
 
 Mdse. 
 
 1 pr. Gaiters $3.25 
 
 18 ;^ Pacific Lawns, @ 60^ 9. 
 
 // 
 
 Henry Hardcase 
 
 Mdse 
 
 Bill of Mdse. 
 
 // 
 
 Cash 
 
 Bills Receivable 
 
 Rec'd of C. F. Neil in part pay't of her acc't. 
 // 
 
 Cash ; 
 
 Mdse 
 
 Cash sales. 
 
 5. 
 
 Bills Receivable 
 
 Mdse 
 
 Sold Peter Tramp on note at 60 ds. 
 // 
 
 Commercial Bank 
 
 Cash 
 
 Deposited in bank. 
 
 Expense 
 
 Commercial Bank 
 
 Paid clerk's salary, by check. 
 
 Cash 
 
 Mdse 
 
 Cash sales. 
 
 6. 
 
 Mdse 
 
 Bills Receivable 
 
 Frank Porter 
 
 Bo't Mdse. of L. Porter, and gave him C. F. Neil's 
 note, — amt. still due on it, $100; — bal. on ^. 
 ff 
 
 Expense 
 
 Commercial Bank 
 
 Paid rent of store, by check. 
 
 Amt. forward 
 
 Da. Cr. 
 
 1021 
 101 
 
 103 
 101 
 
 \02\ 
 
 101 
 
 1021 
 101 
 
 102 
 
 V 
 
 102 
 102 
 
 101 
 
 101 
 102 
 103 
 
 102 
 102 
 
 1643995 
 1225 
 
 75 
 
 200 
 
 40 
 
 100 
 
 2000 
 
 70 
 
 150 
 
 40 
 
 643995 
 
 1225 
 
 918720 9187 » 
 
 75 
 
 200 
 
 4€ 
 
 100 
 
 2000 
 
 70 
 
 60 
 
 100 
 50 
 
 4€ 
 
JOUKNAL-DAY BOOK. 
 
 Sr 2.] 
 
 MdM. 
 
 SAN FRANCISCO, Jan. 6, I884. jy^ Cr. Sdea.* 
 
 102 
 
 V 
 
 101 
 
 101 
 
 101 
 
 102 
 
 103 
 102 
 
 1031 
 101 
 
 V 
 
 101 
 
 102} 
 101 
 
 101 
 
 101 
 101 
 
 Forward, 
 
 Commercial Bank 
 
 Cash 
 
 Deposited in bank. 
 
 Cash. 
 
 MdM. 
 
 Cash 
 
 Cash 
 
 Mabel Field. 
 Rec'd on <^. 
 
 Bills Payable 
 
 Discount 
 
 Commercial Bank • 
 
 Discounted Gage's note, favor Clara Shaw, 
 and gave check on bank. 
 
 9187201 
 80 
 
 35 
 
 12 
 
 200 
 
 Hiram Pawley 
 
 Mdse . . . . 
 Sold him on oj^. 
 
 Cash. 
 
 Mdse. 
 Cash sales. 
 
 9. 
 
 Eva Hasty 
 
 Mdse . . . . 
 Sold her on o^. 
 
 Cash. 
 
 Mdse. 
 Cash sales. 
 
 10. 
 
 Mabel Field 
 
 Mdse... 
 Sold her on % 
 
 80 
 
 61 
 
 30 
 
 58 
 
 40 
 
 ma 30 
 
 10 
 
 ^18720 
 80 
 
 35 
 12 
 
 192 
 
 61 
 
 30 
 
 58 
 
 40 
 
 10 
 
 9783)30 
 
 35 
 
 80 
 
 61 
 
 30 
 
 58 
 
 40 
 
 30410 
 
 10 
 
 100 
 
SsT 2.] 
 
 LEDGER. 
 MARINE OAOE, 
 
 1884 
 Jan. 
 
 Bills Payable. . . 
 
 ^ Loss and Gain 
 
 Balance 
 
 200 
 l|103| 12935 
 Ll03 ^70 65 
 
 2500 
 
 18841 
 Jan. 
 
 2 Investment. 
 
 98 2500 
 
 2500 
 
 C, N. MILLS. 
 
 18841 
 Jan. 
 
 \ Loss and Gain . . 
 Balance l 
 
 103 
 103 
 
 2300 
 
 1884| 
 129|.35'[Jan.| 2| Investment 
 217065 
 
 98 
 
 MD8E. 
 
 18841 
 Jan. 
 
 11 
 
 Marine Gage 
 
 Cash 
 
 Sundries 
 
 Loss and Oain u 
 
 99 
 103 
 
 1500 
 900 
 150 
 
 S980 
 
 18841 
 Jan, 
 
 258980 
 
 Mabel Field... 
 Bills Receivable 
 Cash 
 
 a' Eva Hasty 
 3i Sundries . . 
 
 3' Cash 
 
 4' Eva Hasty 
 
 4! H. Hardcase . . . 
 
 4 Cash 
 
 5J Bills Receivable 
 
 5: Cash 
 
 6 Cash 
 
 8'h. Pawley 
 
 8| Cash 
 
 9|Eva Hasty., 
 9. Cash 
 
 10 Mabel Field 
 
 11 Balance 
 
 981 
 
 98 
 99 
 99 
 99 
 99 
 99 
 100 
 100 
 100 
 100 
 1 
 
 Ll 
 
 iOO 
 
 2795 
 175 
 
 70 
 
 60 
 120 
 
 6550 
 
 1226 
 
 75 
 
 40 
 100 
 
 60 
 
 35 
 
 80 
 
 6110 
 
 581 
 \i48C 
 
 BILLS PAYABLE, 
 
 .[98J[_20o|_ 
 
 1884 
 
 Jan. 
 
 8 Sundries. 
 
 11884 
 |100||200| jjan. 2| Marine Gage 
 
 101 
 
Set 2.] 
 
 LEDGER. 
 BILLS RECEIVABLE, 
 
 1884 
 
 Jsn 
 
 2 
 2 
 5 
 
 C.N.Milli 
 
 Mdse 
 
 98 
 98 
 99 
 
 300 
 173 
 100 
 
 
 1884 
 
 Jan. 
 t< 
 
 4 
 
 6 
 
 11 
 
 11 
 
 Cash 
 
 99 
 
 99 
 
 103 
 
 103 
 
 ?00 
 
 
 
 Mdae 
 
 100 
 100 
 175 
 576 
 
 
 <( 
 
 (< 
 
 Balance. l 
 
 
 
 
 
 
 675 
 
 
 
 EXPENSE. 
 
 18841 
 Jan 
 
 3Q«h 
 
 3 •• 
 
 6 Commercial Bank 
 
 13150 
 
 18841 
 15|25 Jan 
 625 
 70 
 40 
 
 11 
 
 LoM and Oain 
 
 Ll03 
 
 13150 
 
 13150 
 
 MABEL FIELD. 
 
 18841 
 Jan 
 
 10 
 
 Mdae. 
 
 100 
 
 1884J 
 95 Jan 
 
 95 
 
 Ca«h... 
 Balance 
 
 100 
 LI103 
 
 6795 
 
 12 
 
 5596 
 
 EVA HASTY. 
 
 1884 
 Jan 
 
 Mdse. 
 
 Balance. L 103 
 
 10225 
 
 10225 
 
 COMMERCIAL BANK. 
 
 18841 
 Jan 
 
 Cash 
 
 
 
 
 1884 
 
 
 99 
 
 2000 
 
 
 Jan. 
 
 5 
 
 100 
 
 80 
 
 
 
 6 
 
 8 
 11 
 
 \2im\ 
 
 
 Expense, 
 
 Bills Payable. 
 Balance 
 
 99 
 
 99 
 
 100 
 
 103 
 
 70 
 
 40 
 
 192 
 
 1778 
 2080 
 
 102 
 
Srr 2.] 
 
 LEDGER. 
 EIRAM PAWLEY. 
 
 1884 
 Jan 
 
 3 
 
 8 
 
 Mdse 
 
 98 
 100 
 
 40 
 
 80 
 
 120 
 
 
 1884 
 Jan, 11 
 
 Balance L 
 
 103 
 
 ISO 
 
 
 <« 
 
 It 
 
 
 
 
 
 
 120 
 
 
 DISCOUNT AND INTEREST. 
 
 1884 
 Jan. 
 
 11 
 
 Loss and Oain. 
 
 103 
 
 |1884| 
 |jan. 
 
 BiU8 Payable. 
 
 100 
 
 HENRY EARDCASE. 
 
 18841 
 Jan 
 
 Mdse. 
 
 iLk 
 
 1884 
 an. ll\ Loss and Oain 
 
 L 103 75 
 
 FRANK PORTER. 
 
 l|i03| | 60 |ji 
 
 1884] 
 Jan. 
 
 11 
 
 Balance . 
 
 |1884{ 
 Fan 
 
 6 Mdse. 
 
 99 50 
 
 LOSS AND OAIN. 
 
 1884 
 Jan. 
 
 Expense 
 
 H. Hardcase l 
 
 Bills Receivable . . . l 
 
 102 
 103 
 102 
 
 18841 
 13l|50Uan. 
 75 
 100 
 30650 
 
 Mdse 
 
 Disct. and Int. 
 Oage d: Mills . . 
 
 101 
 
 1031 
 
 LllOl 
 
 3980 
 
 8 
 
 26870 
 
 30650 
 
 BALANCE. 
 
 1884 
 
 
 Jan. 
 
 
 " 
 
 
 ii 
 
 
 <( 
 
 
 *' 
 
 
 " 
 
 
 <4 
 
 
 Mdse LlOl 
 
 Bills Receivable . . .l 102 
 
 Mabel Field l102 
 
 Eva Hasty l102 
 
 H. Pawley l 103 
 
 Commercial Bank . . 1 102 
 Cash c. B106 
 
 1480 
 
 175 
 5595 
 
 10225 
 
 120 
 1778 
 
 68010' 
 1439130 
 
 18841 
 Jan 
 
 Frank Porter l 
 
 M. Gage's Net Cap . l 
 Mills's Net Cap ... L 
 
 1031 
 101 
 101 
 
 50 
 217065 
 217065 
 
 103 
 
BILL 
 BILLS 
 
 [Set 
 
 No. 
 
 When 
 Kec'd. 
 
 Drawbb 
 
 OB 
 
 Endobsbb. 
 
 Bbawbb 
 
 OB 
 
 Makbb. 
 
 In Whosb Fatob. 
 
 Date of 
 Note. 
 
 Time to 
 Run. 
 
 1 
 2 
 3 
 
 1884 
 
 Jan. 
 (< 
 
 2 
 2 
 5 
 
 C. W. Mills. 
 Gage k Mills. 
 Gage k Mills. 
 
 C. r. Neil. 
 H. R. Bailey. 
 Peter Tramp. 
 
 C. W. Mills. 
 Gage k Mills. 
 Gage k MilU. 
 
 1884 
 Jan. 
 
 •2 30 ds. 
 2 60 ds. 
 5 60 ds. 
 
 
 
 
 
 BILLS 
 
 
 
 
 [Set 
 
 No. 
 
 When 
 Iwned. 
 
 Dbawbb 
 ok 
 
 EMDOBttB. 
 
 I>SA«BB 
 
 OB 
 
 Makbb. 
 
 In Whosb Fatob. 
 
 Date of 
 Note. 
 
 Time to 
 Run. 
 
 1 
 
 1883 
 Dec. 
 
 1 
 
 Clara Shaw. 
 
 Marine Gage. 
 
 Clara Shaw. 
 
 1883 
 Dec. 
 
 1 
 
 60 ds. 
 
 BILL 
 BILLS 
 
 [Set 
 
 No. 
 
 When 
 Rec'd. 
 
 Dbawbb 
 
 OB 
 
 Ehdobsbk. 
 
 Dbawbb 
 
 OB 
 
 Makbb. 
 
 Im Whosb Fatob. 
 
 Date of 
 Note. 
 
 Timet© 
 Ran. 
 
 1 
 2 
 3 
 
 1884 
 
 July 
 
 It 
 
 1 
 2 
 4 
 
 H. Witherspoon. 
 W. k Locke. 
 W. k Locke. 
 
 W. Zimmerman. 
 Annie Girdner. 
 Simon Crafty. 
 
 H. Witherspoon. 
 W. k Locke. 
 W. k Locke. 
 
 1884 
 Jun. 
 July 
 
 2 
 4 
 
 3 mos. 
 60 ds. 
 60 ds. 
 
 BILLS 
 
 [Sffr 
 
 No. 
 
 When 
 Issued. 
 
 Drawbr 
 
 OB 
 
 EitDoiuncR. 
 
 Dbaweb 
 
 OB 
 
 Maker. 
 
 Ik Wbocb Fatob- 
 
 Date of 
 Note. 
 
 Time to 
 Run. 
 
 1 
 2 
 
 1884 
 Jun. 
 July 
 
 15 
 3 
 
 John Van Eaton. 
 John Van Eaton. 
 
 W. W. Locke. 
 W. k Locke. 
 
 John Van Eaton. 
 John Van Eaton. 
 
 1884 
 Jun. 
 July 
 
 'I 
 
 90 ds. 
 30 da. 
 
 104 
 
«.] 
 
 BOOK. 
 RECEIVABLE. 
 
 
 WHEN DUE. 
 
 
 n 
 
 When and How 
 
 Where Payable. 
 
 Yr. 
 
 4 
 
 1 
 
 i 
 
 7^ 
 
 i 
 
 
 i 
 
 
 9 
 < 
 
 i 
 
 i 
 
 > 
 
 1 
 
 Amt. 
 
 DiBposed of. 
 
 San Francisco. 
 San Francisco. 
 San Francisco. 
 
 1884 
 1884 
 1884 
 
 
 1 
 
 2 
 6 
 
 
 
 
 
 
 
 
 
 300 
 
 175 
 100 
 
 
 Paid. 
 Lost. 
 
 2.] 
 
 PAYABLE. 
 
 
 WHEN DUE. 
 
 
 
 When and How 
 
 Where Payable. 
 
 Yr. 
 
 1 
 
 i 
 
 i 
 
 t 
 
 < 
 
 i 
 
 i 
 
 a 
 
 *•> 
 
 < 
 
 i 
 
 i 
 
 > 
 
 s. 
 
 1 
 
 Amt 
 
 Di«po«Kl of. 
 
 San Francisco. 
 
 1884 
 
 30 
 
 
 
 
 
 
 
 
 
 
 
 
 200 
 
 
 Paid. 
 
 3.] 
 
 BOOK. 
 RECEIVABLE. 
 
 
 WHEN DUE. 
 
 
 
 When and How 
 
 Where Payable. 
 
 Yr. 
 
 a 
 
 i 
 
 ^ 
 
 s 
 
 1 
 
 -< 
 
 
 6 
 a 
 
 
 < 
 
 
 
 1 
 
 Amt. 
 
 Dlapoeed of. 
 
 San Francisco. 
 San Francisco. 
 San Francisco. 
 
 1884 
 1884 
 1884 
 
 
 
 
 
 
 
 
 31 
 
 1 
 2 
 
 
 
 
 300 
 127 
 14^ 
 
 50 
 
 Paid. 
 Lost. 
 
 3.] 
 
 PAYABLE. 
 
 
 WHEN DUK 
 
 
 
 When and How 
 
 Where Payable. 
 
 Yr. 
 
 1 
 
 1 
 
 1 
 
 i 
 
 1 
 
 i 
 
 a 
 
 >> 
 
 ^ 
 
 < 
 
 1 
 
 i 
 
 1 
 
 1 
 
 Amt. 
 
 Dispoeed of. 
 
 San Francisco. 
 San Francisco. 
 
 1884 
 1884 
 
 
 
 
 
 
 
 2 
 
 13 
 
 
 
 
 350 
 140 
 
 
 Paid. 
 
 105 
 
CASH BOOK. 
 
 Sbt 2.] 
 
 Dr. Cr. 
 
 1884] 
 Jan 
 
 Amount on hand 
 
 Paid H. D. HoUingsworth for Mdse 
 
 Received for Mdse 
 
 Paid for Insurance 
 
 Received of H. Pawley, on <^ 
 
 Paid for Stationery and Stamps . . . . 
 
 Received for Mdse 
 
 Received of C. F. Neil, on Note. . . 
 
 Received for Mdse 
 
 Deposited in Commercial Bank 
 
 Received for Mdse 
 
 Deposited in Bank 
 
 Received for Mdse 
 
 Received of Mabel Field, on <^ . . . . 
 
 Received for Mdse 
 
 Received for Mdse 
 
 Balance 
 
 3000 
 70 
 80 
 
 200 
 40 
 
 60 
 
 35 
 12 
 61 
 
 58 
 
 3681 
 
 10 
 
 60 
 
 900 
 1525 
 625 
 
 ^2000 
 80 
 
 680 
 
 3681 
 
 10 
 
 Sr2.] 
 
 TRIAL BALANCE. 
 
 Jan. 11. 1884. 
 
 Facx or Lbdoek. 
 
 Db. 
 
 Cr. 
 
 Balancbb. 
 
 Dr. 
 
 Cb. 
 
 Marine Gage 
 
 C. W. MUls 
 
 Mdse 
 
 Bills Payable 
 
 Bills Receivable 
 
 Expense 
 
 Mabel Field 
 
 Eva Hasty 
 
 Hiram Pawley 
 
 Discount and Interest 
 Commercial Bank . . . . 
 
 H. Hardcase '. . . 
 
 Frank Porter 
 
 Cash 
 
 106 
 
 20C 
 
 12550 
 200 
 575 
 13150 
 6795 
 10225 
 120 
 
 2080 
 75 
 
 $681 
 
 978330 
 
 2500 
 2300 
 1109801 
 
 200 
 
 300 
 
 12 
 
 8 
 302 
 
 50 
 
 60 3001 
 
 978330 
 
 J300 
 S300 
 
 50 
 
 50 
 
 4658 
 
 144020 
 
 50 
 
 95 
 
 275 
 131 
 559/ 
 102 
 120 
 
 1778 
 75 
 
 68010 
 
 4658 
 
MODEL SET IH. 
 
 In this set a Journal-Day Book, a Cash Book, Bill Book, In- 
 voice Book, and Ledger wiQ be kept. We shall post from the 
 Jonmal and Cash Book. 
 
 The Journal, in this set, has four columns. It is readily- 
 apparent that this plan of increasing the number of columns 
 in the Journal may be extended so as to make six, eight, ten, 
 or even more of these special columns available for three, four, 
 five, or more repeatedly occurring species of Mdse. or other 
 principal items of exchange. 
 
 Many book-keepers use six columns, and keep an account with 
 Cash in the Journal; but as we are, in this set, to post from the 
 Cash Book, it will be a saving of time to omit Cash from the 
 Journal. The advantage of using this form of the Journal is 
 in the saving of time and labor in posting, as only the footings 
 of these columns are posted — daily, weekly, or monthly, as de- 
 sired. All items for which no special columns have been pro- 
 vided, are placed in the General or Sundries colimui, and each 
 of these items is separately transferred to the Ledger, as in 
 posting from the ordinary Journal. 
 
 All bills of Mdse. bought are pasted in the Invoice Book, as 
 in Set III, p. 71, of Single Entry. The debit column of Mdse. 
 in the Journal contains the same amoimts as the Invoice Book ; 
 consequently, we need not post from the Invoice Book. The 
 Sales Book is seldom kept, except in wholesale or large retail 
 establishments. 
 
 San Francisco, July 1, 1884. Henry Witherspoon and W. W. 
 Locke commenced business as partners, under the firm name of 
 Witherspoon & Locke. Gains and losses to be equally divided. 
 
 Henry Witherspoon invests cash, $3500; Wm. B. Zunmerman's 
 note, his favor, dated June 1, ^84, at 3 mos., for $300; balance 
 due on % from Frank Herbert, $200. 
 
 W. W. Locke invests cash, $1500; Mdse, $1000; and the firm 
 agrees to assume the following liabilities of W. W. Locke: twte 
 held by John Van Eaton for $350, dated Juhe 15, '84, at 90 ds.; a 
 personal account due Oliver Webb, amt. $150. 
 
 July 2. Deposited $4800 in Commercial Bank. Bo't of Votaw 
 & Co., a bill of Mdse., as per invoice, $1450; gave check on Com- 
 
 107 
 
MODEL SET lU. 
 
 mercial Bank for $950; — balance on ojc. Sold Mary Kelsey, on fl|fc, 
 20;!ff black velvets, @ 75^; 50 J!^ linen lawns, @ 25^; 1 shawl, 
 $30; 6 prs. ladies' kid gloves, @ 95^; 2 prs. ladies' French kid 
 shoes, @ $4.50. Paid cash for account books, $12.50. Rec'd cash, 
 on ojcy of Prank Herbert, $60. Sold Annie Girdner, on note at 60 
 ds., 20;^ French silk, @ $3; 25 # polonaise suitings, @ 75^; 1 
 Thibet shawl, $25; 30 ;^ Rhadama cloth, @ 45^; 50 iff calico, @ 
 6}^; 2 ladies' hats, @ $3.25. Cash sales, $90. In counting the 
 cash we found a $20 counterfeit bill. 3. Discounted W. W. 
 Locke's note, favor of J. Van Eaton, paying cash, $200, and giv- 
 ing the firm's note, at 30 ds., for the balance, $140. Bo't a safe 
 for the store and paid for it, by check on Commercial Bank, 
 $500. (>ave Oliver Webb an order on Mary Kelsey for $30. Cash 
 sales, $85.50. 4. Sold Simon Crafty, on his note at 60 ds., 50 
 # Brussels carpet, @ $2.25; 10;^ broadcloth, @ $2.50; 1 pr. 
 boots, $5. Sold Geo. Aimless, on <^, 1 pr. alligator boots, $16; 
 9 f^ broadcloth, @ $2.50; 6 prs. hose, ® 45^; 1 hat, $3. Loaned 
 V. Domberger, cash, $25. Cash sales, $81.10. 5. Deposited in 
 Commercial Bank, cash, $125. Sold Pet^r Nasby, 50 prs. Oxford 
 shoes, @ $3.50; 25 prs. French ties, @ $3; 25 prs. slippers, @ 
 50^; rec'd cash $100; — balance on <^. Paid clerk's salary by 
 check on Commercial Bank, $75. Cash sales, $73.50. 6. Biu-glars 
 broke into the store and took from the till, cash, $90. Sold 
 Oliver Webb, on <^, 2 prs. kip brogans, @ $3.50; 1 hat, $3.75; 
 5 t/^ broadcloth, @ $2.50; 1 rubber coat, $6.50; J doz. linen hdkfs., 
 @ $4.80; 1 neck-tie, 50^. Discounted Wm. B. Zimmerman's note 
 at Odd-Fellows' Bank, and rec'd cash, $285. Cash sales, $97. 8. 
 Bo't of Votaw & Co., on <^, a bill of Mdse., as per invoice, $150. 
 Bo't of Jones & Co., for cash, 5 tons of coal, @ $14. Cash sales, 
 $128. 9. John Carpenter has worked 2^ days, @ $3, repairing 
 store, and we have paid him in Mdse. Henry Witherspoon has 
 taken Mdse. to date, valued at $88. Simon Crafty has failed, 
 and we have lost the amount of his note. Geo. Aimless has 
 absconded and we have lost his account. Cash sales, $86.80. 10. 
 Sold Peter Nasby, on % 120 l/f Merrimack cambric, @ 15^; 50 ;!^ 
 Ky. jean, @ 30^; 25;^ cashmere, @ $1; 50;ff gingham, @ 8^. 
 Paid cash for rent of store, $60. Took an inventory, and found 
 Mdse. on hand. $1791 : office safe valued at $475, and coal, $40. 
 
 108 
 
8 
 
 U 
 
 -w 
 
 TT 
 
 8 
 
 i 
 
 "W 
 
 e»r^ 
 
 g 
 
 
 d 3 « 
 
 OS M 
 
 
 ts 
 
 11 
 
 02 
 
 2L 
 
 a 
 
 a 
 
 38S^ 
 
 e e 
 
 ^ 
 
 
 
 l5 
 
 109 
 
1^ 
 
 ^ 
 
 -fT 
 
 <=> I 
 
 -J. 
 
 Q 8 
 
 ■i 
 
 Si; 
 
 5 
 
 -B5 W 
 
 CO C4 «d 
 
 |2a 
 
 CO 
 
 ^o5 2 
 
 ^ .. 
 
 1 
 e 
 
 11 
 
 
 5 
 
 « .• 
 
 6-§ 
 I 
 
 I 
 
 if ^ 
 
 ^^ 
 
 g 
 
 I 
 
 o 
 
 :§ 
 
 ?1 S 
 
 IT 
 
 
 !!• 
 
g g. 
 
 t 
 
 g. 
 
 isr 
 
 "W 
 
 TT 
 
 
 as 
 
 «dcic4eo 
 
 
 ^ 
 
 M 
 
 •J 
 < 
 
 0: 
 
 ^5 
 
 t^ CO cj «o c4 
 
 
 ••- g fci « • rs 
 
 -PT 
 
 K5 SS 
 
 A 
 
 
 J. 
 
 ui 
 
 V 
 
 UNIVERSITY 
 
M 
 O 
 O 
 
 PQ 
 
 I 
 
 O 
 Ha 
 
 ^ 
 
 1^ 
 
 i 
 
 _j 
 
 5 
 
 
 
 
 
 
 B 
 
 1 
 
 
 S 
 
 
 ^ 
 
 % 
 
 1" 
 
 
 
 
 
 
 
 »ft 
 
 
 
 
 
 
 
 W5 
 
 ^ s 
 
 
 
 
 
 S e? 
 
 s 
 
 
 
 
 
 
 
 §* 
 
 § 
 
 
 ^ 
 
 c4 
 
 rt 
 
 
 R 
 
 
 
 
 
 
 
 
 ^ 
 
 *i 
 
 ^^ 
 
 ^N 
 
 riH 
 
 
 m4 
 
 »^ 
 
 • 
 
 
 
 i 
 
 
 
 JB 
 
 
 212^- 
 
 
 i 
 
 • 
 
 
 
 1 
 
 
 
 
 
 : : : : 
 
 
 
 • 
 
 
 
 S 
 
 
 
 1 
 
 
 »i'» 
 ® ^ 
 
 
 
 1 ^ 
 
 
 s 
 
 
 
 
 
 
 
 
 
 ^ AJ 
 
 'i 
 
 2 
 
 1 
 
 J 
 
 
 .9 
 
 2 S 
 
 i 
 
 J 
 
 
 > 
 
 Sg. 
 
 ^1 
 
 1-^ 
 
 ^1 
 
 '^^ 
 
 p5 
 
 1 
 1 
 
 
 • a 
 
 i i i s 
 
 
 1^ 
 
 1 
 
 8^ 
 
 
 "^ Uj o o 
 
 
 S5 
 
 >:2==^^=5^ 
 
 
 3 
 
 ^s 
 
 1^ 
 
 ^ s 
 
 |§SSS 
 
 
 
 
 * s 
 
 1^ 
 
 J2; 
 
 
 s 
 
 a. 
 
 H 
 
 
 1 
 
 
 p^ 
 
 « 
 
 ifl 
 
 w 
 
 
 kd 
 
 W 
 
 l4 
 
 — 
 
 - 
 
 ^ 
 
 
 '^ 
 
 - 
 
 b 
 
 g 
 
 S 
 
 
 
 
 « 
 
 g| 
 
 « 
 
 r- 
 
 §8 
 
 
 g 
 
 o 8 
 
 O 
 
 1 
 
 t^ 
 
 
 
 
 
 SS 
 
 § 
 
 la 
 
 
 
 s§ g 
 
 
 
 
 
 S 1 
 
 s 
 
 
 
 
 
 
 
 
 
 ^ 1 
 
 i 
 
 
 112 
 
Set 3.] 
 
 LEDGEE. 
 HENRY WITMERSFOON. 
 
 1S84 
 July 
 
 Mdse. . . 
 Balance 
 
 .112 
 h\U\3991 
 
 81 
 
 407987 
 
 1884 
 ^uly 
 
 10 
 
 Investment . . . 
 Loss and Gain . 
 
 109 40001 
 114 
 
 407987 
 
 7987 
 
 W. W. LOCKE, 
 
 1884 
 July 
 
 Sundries , 
 Balance. 
 
 109 
 114 
 
 500 
 
 em 
 
 5578 
 
 1884 
 July 
 
 '07988 
 7988 
 
 10 
 
 Investment . . . 
 Loss and Gain , 
 
 ..109 
 
 .Lll4 
 
 12500 
 7988 
 
 257988 
 
 MERCHANDISE. 
 
 1884 
 July 
 
 Sundries 
 
 Loss d: Gain . 
 
 112 
 114 
 
 2600 
 671 
 
 3271|45 
 
 4S 
 
 1884 
 LTuly 
 
 Sundries . 
 Cash.... 
 Balance. . 
 
 .c. B 
 . . .L 
 
 112 
 116 
 114 
 
 83856 
 
 641 
 
 1791 
 
 327145 
 
 90 
 
 BILLS RECEIVABLE. 
 
 1884 
 
 July 
 
 H. Witherspoon 1109 
 
 Mdse 110 
 
 111 
 
 300 
 127 
 142501 
 
 56950 
 
 1884 
 July 
 
 I 
 
 » Sundries 
 
 10, Loss and Gain l 
 
 'i 
 
 Balance. 
 
 Ill 
 
 114 
 
 l|114 
 
 300 
 14250 
 
 127 
 
 56950 
 
 BILLS PAYABLE. 
 
 18841 
 July 
 
 Sundries 
 
 Balance l 
 
 110 
 114 
 
 350 
 140 
 490 
 
 1884 
 July 
 
 W. W. Locke 
 Bills Payable.. 
 
 109 
 110 
 
 350 
 140 
 
 490 
 
 FRANK HERBERT. 
 
 1884 
 July 
 
 H. Witherspoon. 
 
 109 
 
 200 
 
 200 
 
 1884 
 July 
 
 10 
 
 Cash ... 
 Balance 
 
 .c. B 
 ...L 
 
 116 
 114 
 
 113 
 
8n 3.] 
 
 LEDGER. 
 V. DORNBERQER. 
 
 July 4 Cash c b116 
 
 11884 
 
 25 J/tt/yiO 
 
 Balance l114 25 
 
 LOSS AND GAIN. 
 
 1884 
 
 
 July 
 
 2 
 
 
 6 
 
 
 10 
 
 
 10 
 
 
 10 
 
 
 IC 
 
 
 10 
 
 Cash c. b116 
 
 " c.Blie 
 
 Bills Receivable ... l 1 13 
 
 Disci, and Int L 115 
 
 Geo. Aimless l 115 
 
 Expense 
 Stock... 
 
 LJ115 
 113 
 
 20 
 90 
 142501 
 
 671 
 
 4420 
 210 
 
 1597^ 
 
 45 
 
 1884 
 July 10 
 
 Mdae. 
 
 113 
 
 67145 
 
 67145 
 
 BALANCE. 
 
 1884 
 Julyl 
 
 Cash 
 
 Mdse 
 
 Bills Receivable . 
 
 Frank Herbert . . 
 
 Commercial Bank 
 
 Mary Kelsey 
 
 Peter Nasby 
 
 101 Expense 
 
 id V. Domberger. . . 
 
 c. B 
 
 Lll5 
 
 Lll5 
 LJllS 
 14 
 
 16 
 
 l!113 
 
 l|i13 
 
 113 
 
 lI115 134001 
 
 68440 
 1791 
 12 
 1401 
 
 694910 
 
 4220 
 224 5<^ 
 515 
 
 25 
 
 1884 
 July 
 
 Bills Payable l113 
 
 OUverWebb l114 
 
 Votaw&Co L114 
 
 H. Witherspoon ... L 113 
 W. W. Locke L113 
 
 140 
 
 87 
 
 650 
 
 ^991 
 
 207988 
 
 694910 
 
 87 
 
 OLIVER WEBB. 
 
 1884 
 July 
 
 10 
 
 Mary Kelsey 
 
 Mdse 
 
 Balance. L 
 
 not 
 
 111 
 114, 
 
 150 
 
 30 
 32661 
 
 8? 
 
 1884 
 
 July 2| W. W. Locke 
 
 SS 
 
 109 
 
 150 
 
 150 
 
 VOTAW & CO. 
 
 1884 
 July 10 
 
 Balance ill4 
 
 650 
 
 650 
 
 1884 
 July 
 
 114 
 
 2 Mdse. 
 8 " . 
 
 109 
 112 
 
 500 
 150 
 950 
 
Srr 3.] 
 
 LEDGER. 
 COMMERCIAL BANK. 
 
 1884 
 July 
 
 Cash. 
 
 Bll6 
 Bll6 
 
 [4800 
 125 
 
 4925 
 
 1884 
 July 
 
 2lMd8e... 
 Elxpenae, 
 
 Balance. 
 
 109 
 110 
 HI 
 114 
 
 950 
 
 500 
 
 75 
 
 3400 
 
 4925 
 
 MAEY KEL8EY. 
 
 1884 
 July 
 
 2 Mdae 
 
 109 
 
 1884 
 72|20lJuly 
 
 7220 
 
 Oliver Webb 
 Balance 
 
 110 
 114 
 
 30 
 
 4£S0 
 
 7220 
 
 DISCOUNT AND INTEREST. 
 
 1884 
 July 
 
 6 Bills Receivable 
 
 
 
 
 1884 
 
 
 111 
 
 15 
 
 
 July 
 
 3 
 
 W 
 
 15 
 
 
 Bills Payable. 
 Lost and Oain . 
 
 .110 
 
 Lll4 
 
 GEO. AIMLESS. 
 
 1884] 
 July 
 
 Mdae. 
 
 11 
 
 LP 
 
 20|A 
 
 11884 
 44\2XmJuly 10\ Loss and Oain 
 
 M 
 
 44^0 
 
 PETER NASBY. 
 
 1884 
 July 
 
 Mdse. 
 
 Ill 
 115 
 
 22450 
 
 \i 
 
 162|60|/Wy|iO| Balance l 
 
 62 
 
 114 
 
 S2450 
 
 22450 
 
 EXPENSE. 
 
 18841 
 July 
 
 3 Commercial Bank . . . 
 5 
 Mdse 
 
 10 Cash c.b'116 
 
 115 
 111 
 
 112 
 
 500 
 75 
 
 50 
 14250 
 725 
 
 1884 
 
 July ICk Balance. 
 
 10 Loss and Oain 
 
 Lll4 
 
 Lll4 
 
 616 
 fSlO 
 
 726 
 
 115 
 
"g~l" 
 
 s I ^ § s 
 
 5 
 
 
 J 
 
 i 
 
 ■a <§) 
 
 i s 
 
 s s 
 
 s S. 
 
 6 (3 
 
 i 
 
 J 
 
 $ .2 
 
 I i 
 
 a 
 
 I 
 
 3 
 
 I 
 
 V 
 
 3 
 I 
 
 II 
 1^ 
 
 M 
 o 
 o 
 
 » 
 
 "KT 
 
 ■51 — 51 — sr 
 
 i -^ 
 
 T 
 
 88 
 
 s s s 
 
 wr^ 
 
 s 
 
 ¥" 
 
 T 
 
 ¥ 
 
 S 
 
 s; 
 
 I 
 
 # 
 
 1 1 I 
 
 «< £ a 
 
 -;:5 — sr 
 
 S I S 
 
 - CO " 
 
 95 ^ ® 
 
 tJ ^ '« 
 
 s '^ s 
 
 I 1 
 
 -«- 
 
 "W 
 
 116 
 
TRIAL BALANCE AND BALANCE SHEET, 
 
 Set 3.] July 10, IS84. 
 
 Jvly 1 to July 10, I884. 
 
 Henry Witherspoon . . 
 
 VV. W. Locke 
 
 Merchandise 
 
 Bills Receivable 
 
 Bills Payable 
 
 V. Domberger 
 
 Oliver Webb 
 
 Frank Herbert 
 
 Votaw & Co 
 
 Commercial Bank . . . . 
 
 Mary Kelsey 
 
 Discount and Interest 
 
 <«eo. Aimless 
 
 Loss and Gain 
 
 Peter Nasby 
 
 Expense 
 
 Cash 
 
 Trial Balance. 
 Face or Ledger. 
 
 Db. 
 
 88 
 
 600 
 
 2600 
 
 569501 
 
 3r)0 
 
 25 
 
 62651 
 200 
 
 4925 
 
 72201 
 
 15 
 
 44201 
 110 
 224 
 725 
 684401 
 
 50 
 
 Cr. 
 
 4000 
 250d 
 14804^ 
 
 300 
 
 490 
 
 150 
 
 60 
 
 650 
 
 1525 
 
 30 
 
 10 
 
 \1791 
 127 
 
 25 
 
 140 
 
 3400 
 42201 
 
 224501 
 515 
 684 401 
 
 19545 11 195145 694910 87735 51170 67145 
 
 K)2 
 
 140 
 873^ 
 650 
 
 L0S8E8. 
 
 14250 
 
 20 
 
 GAHfa. 
 
 67145 
 
 REVIEW QUESTIONS. 
 
 1. Define DouTble Entrj- Book-keeping. 2. State the main 
 differences between Double and Single Entry Book-keeping. 3. 
 What are the advantages of Double Entry compared with Single 
 Entry? 4. What is meant by a "Set of books?" 5. State the 
 differences between the Double and the Single Entry Day Books. 
 6. What statement is usually made the first entry in the Double 
 Entry Day Book? 7. What is the Italian system of book-keep- 
 ing ? 8. Define the Journal. 9. What is a Journal-Day Book ? 
 10. What is journalizing? 11. Where are debit items in the 
 Journal placed? 12. Wliere are credit it^ms in the Journal 
 placed? 13. Why may "Dr." and "To" be omitted from the 
 Journal? 14. How do you make the Day Book explanation in 
 the Journal-Day Book ? 15. What Is the value of extra columns 
 
 117 
 
REVIEW QUESTIONS. 
 
 in the Journal t 16. What is the principal use of the Ledger? 
 17. What is the diflference between the Single and the Double 
 Entry Ledger? 18. What are found on the debit side of the 
 Ledger; on the credit side ? 19. In posting debit items from the 
 Journal, what explanation is used in the Ledger? 20. In posting 
 credit items, what explanation is used? 21. State the use of the 
 Cash Book. 22. Why is it not necessary to keep a cash account 
 in the Ledger? 23. Why should the "cash balance" be entered 
 in the Trial Balance? 24. Define the Sales Book. 25. Why is 
 it seldom used? 26. What is an Invoice Book? 27. State a 
 simple plan of keeping this book. 28. Why must an Invoice 
 Book be kept? 29. What is a Bill Book? 30. From what 
 books may transactions be posted directly to the Ledger? 31. 
 What is the advantage in posting from the C. B., I. B., and 
 S. B. ? 32. How many kinds of accounts in Double Entry ? 33. 
 Name and define the classes of accounts. 34. Why do we call 
 one class a Representative or Loss and Gain account? 35. Why 
 is the other class called a Real or Balance account ? 36. How do 
 you determine that an account is a Representative account ? 37. 
 How do you determine that an account is a Real or Balance ac- 
 count? 38. When does a Balance account show a Resource; 
 when a Liability? 39. When does a Representative account show 
 a Gain; when a Loss? 40. Name the accounts that are usually 
 Balance accounts. 41. Name the accounts that are usually Loss 
 and Gain accounts. 42. What is meant by "Opening a set of 
 books?" and with what is the proprietor debited; with what 
 credited ? 43. How is the opening entry made in the Day Book ; 
 in the Journal-Day Book ? 44. When and why is a " Set of books " 
 closed? 45. Is it necessary to close aU the Ledger accounts in 
 order to know the condition of business? 46. What does the 
 ^ebit side of Mdse. account show? 47. What does the credit 
 side show, after the Inventory is entered? 48. What does the 
 debit side of Bills Receivable show; the credit side? 49. What 
 does the debit side of Bills Payable show; the credit side? 50. 
 What is found on the debit side of Expense account; on the credit 
 side? 51. What is a Trial Balance, and why is it taken? 52. 
 How is a Trial Balance made? 53. How is an account in the 
 Ledger closed ? 54. Give a statement of the manner of closing 
 
 118 
 
REVIEW QUESTIONS. 
 
 n '^Set of books," mentioning the various steps in their order. 55. 
 Why is the Mdse. Inventory entered on the credit side o{ the 
 Jtldse. account? 56. What other accounts may have an Inven- 
 tory credit f 57. State the use of red ink in Double Entry. 58. 
 ^7hy are the various Inventories placed on the debit side of Bal- 
 r,nce account! 59. When a Representative account is closed, 
 what is brought down under the ruHngs T 60. When a Balance 
 recount is closed, what is brought down under the rulings? 61. 
 "Why are these items brought down, and on which side? 62. 
 When and why is a Loss and Gain account opened ? 63. Which 
 ride of this account shows gains; which side losses? 64. After 
 closing Loss and Gain account into "Stock," what wiU the dif- 
 ierence between the two sides of Stock account show ? 65. When 
 and why is a Balance account opened ? 66. What does the debit 
 ride of Balance account represent; the credit side? 67. What 
 does the difference between the two sides of Balance account 
 fhow? 68. Why will Stock account balance after "Loss and 
 Gain " and " Balance" have been closed into it? 69. What term is 
 used to represent the difference between the two sides of an ac-. 
 count when you close the account ? 70. Dlustrate by giving the 
 lerm generally used in closing BiUs Pay., Mdse., Loss and Gain and 
 Balance accounts. 71. Why is it not necessary to open a Balance 
 account at the time of closing the Ledger accounts? 72. What 
 is a Balance Sheet; and when and why is it made out? 73. Why 
 do entries change sides when transferred? 74. Is the proprietor's 
 investment usually considered a Resource, or a Liability to the 
 concern? 75. Give a rule for debiting. 76. Give a rule for 
 crediting. 77. What is the fundamental rule on Double Entry ? 
 78. How do you mark the Day Book entries when they have been 
 transferred to the Journal? 79. How do you mark Journal 
 entries when they have been transferred to the Ledger? 80. 
 Give a list of debits; of credits. 81. Define Mdse. 82. What 
 items are generally included under the term "Expense?" 83. 
 Define the term " Stock." 84. Why is a Bank account not usually 
 kept in the Ledger ? 85. What is meant by " discounting a note ?" 
 86. When and why do we debit Discount and Interest? 87. 
 When and why do we credit this account? 88. Why is an ac- 
 count, termed "Lost Accounts and Notes," sometimes opened in 
 
 119 
 
REVIEW QUESTIONS. 
 
 the Ledger! 89. If not kept, what is done with worthless per- 
 sonal accounts, and bad notes ? 90. Define " Sundries." 91. Why 
 may it be omitted from the Journal t 92. How, and wlien, is it 
 convenient to use it in the Ledger! 93. Is it ever used as a 
 Ledger heading! 94. Give a fuU statement of the manner of 
 changing a set of Single Entry books to Double Entry. 95. 
 What is usually done when a new partner is taken into the busi- 
 ness! 96. How do you correct errors in the Day Bookj in the 
 Journal; in the Ledger! 97. What is an Index! 98. Where, 
 und how, is an Index usually kept ! 99. Examine Model Set II, 
 last page of the Journal, and state the benefit of using three 
 columns in the Journal. 100. Examine Model Set HI, and state 
 the benefits arising from the use of four columns in the Journal. 
 101. What is done with the cash transactions in this set! 102. 
 Why does the term "cash" appear at all in the Journal-Day Book 
 of this set! 103. Examine the Cash Book of this set and explain 
 the manner of posting. 104. How many columns may be used in 
 A Journal! 105. Compare the methods of finding Losses and 
 Gains in Single and in Double Entrj-. 106. Compare the methods 
 <^ finding the Net Capital at closing in these two systems. 
 
 EXERCISES FOR THE STUDENT. 
 
 Set 1. Write this set in the Italian form, using Day Book, 
 Journal, Cash Book, and Ledger. Give special attention, so 
 that the check-marks in the Day Book, the Journal pages in the 
 Ledger, and the Ledger pages in the Journal, are set down 
 immediately after the journalizing and posting are done. 
 
 Student commenced business Jan. 1, 1884, by investing as fol- 
 lows: Mdse.j $850 J cashj $700. 
 
 Jan. 2. Sold D. T. Seeley, on <}6, 5 ;^ tea, @ 40^; 10 ;^ coffee, 
 @ 20^j 240 ;ff potatoes, @ IJ^. Paid cash for a set of account 
 books, $7.50. Bo't of L. M. Dranga, for cash, 140 C. of wheat, @ 
 $1.80 per C. Cash sales to-day, $48.50. 3. Sold C. A. Lee, on 
 note at 60 ds., 50 C. wheat, @ $1.90 per C.j 125 ;ff sugar, @ 12 J^. 
 
 120 
 
EXERCISES FOR THE STUDENT. 
 
 Sold A. R. Sheats, 4 boxes soap, @ $1.50; 5 ^ syrup, @ 80^f 
 600]^ flour, @ $3.25 per C.j rec^d cash, $15 j — ^balance on acc't. 
 Paid cash, for insurance, $10.50. Cash sales, $61. 4. Sold D. T. 
 Seeley, on ^, a bOl of Mdse., $42. Sold Ida Thomas, 4 ;ff vinegar, 
 @ 50^; 60;!^ sugar, @ 13^} 1 keg pickles, $2.25; recVl, in ex- 
 change, 8 }^ eggs, @ 35^ J — ^balance on acc't. Bo't of S. W. Smith, 
 on Ojhj 400 }^ sweet potatoes, @ 3^. Cash sales, $38.50. Rec'd cash, 
 on % of D. T. Seeley, $20. Sold Ida Thomas, on ^, 1 ham, 20 ^, 
 @ 20^. Bo't of F. M, Young, for cash, 16 }j( eggs, @ 30^. Rec'd 
 cash, $25, from C. A. Lee, to apply on note of 3d inst. Sold A. 
 R. Shcats, on % a bill of Mdse., $30. Cash sales, $42. 6. Sold 
 D. T. Seeley, on <5fe, 40 ;^ sweet potatoes, @ 4^; 80 j!^ sugar, @ 
 13^. Rec'd casli, in full of «/:, of Ida Thomas. Sold F. M. Young, 
 a bill of Mdse., $68, and rec'd cash, $40. Paid cash, for stationery, 
 $4.25. Sold W. H. Bailey, on note at 30 ds., a bill of Mdse., $110. 
 Bo't of A. E. Sheats, on ^{fc, 120 C. ground bai-ley, @ $1.85 per C. 
 Cash saJes, $65. 8. Rec'd cash in full, of C. A. Lee, for balance 
 due on note Sold M. F. Young, on ^r, 300 J^ flour, @ $3 per C; 
 80 ^ fcfweer potatoes, @ UC, Casli sales, $25. 9. Bo't of S. W. 
 Smith, on <^, 600 iff dried peaches, @ 15?. Sold A. R. Sheats, 
 8 bbls. floa** ® $6.25 j rec'd check for $40; — balance on acc't. 
 James Trimble has worked for us 5 dajs, i^epairing sidewalk, @ 
 $2 50; <vnd we have paid him in cash. Cash sales, $47. 10. Sold 
 Peter Cooper, on % 450 j6^ wheat, $1.90 per C. ; 10 ;^ vinegar, @ 
 60<^; 40 J^ bacon, @ 18?. Chas. Jones has worked for us 8 ds. in 
 store. @ $2; we let him have Mdse. for that amt. Cash sales, 
 6&^i Tco^. an inventory and found Mdse. on hand, $575. 
 
 Set 2J. Write this set in Journal-Day Book form, placing the 
 Day-Book explanation below the Journal entry. 
 
 Student commenced business, May 1, '83, with resources and 
 liabilities as foUows: 
 
 Resources: Cas^, $4000; Jtfifse., $5000 ; Davis W. Hunter's w{>^, 
 at 60 ds., favor of student, dated April 1, '83, for $370; Edward 
 Sheldon owes him, on <56, $310. 
 
 Liabilities: KofCj favor C. H. Osborn, dated March 1, '83, for 
 $450; balance due R. A. Cohnan, on % $300. 
 
 May 2 Bo't of Fletcher & Co., on ^, silks as per invoice. 
 
 121 
 
EXERCISES FOR THE STUDENT. 
 
 $287.40. Paid for insurance, $18. Paid cash for acc't books, $10. 
 Sold T. R. Foster, on of:, 425 ;^ blk. velvets, @ 75^ j 120 fj^ Foulard 
 silk, @ 63?. Sold R. S. Otis, on his note at 30 ds., 50 doz. 
 English hose, $2.50; 300 f^ spring chintzes, @ 6?; 200 j^ bourette 
 suitings, @ 75?. Bo't of L. W. Toland, for cash, an invoice of 
 cassimeres, $219.35. 3. Sold R. H. Taylor, for cash, 200 ff lace 
 bunting, @ 85? 4. Sold T. R. Foster, on % 300 f^ linen lawns, 
 % 25?. Sold D. Williams & Son, on <56, 450 doz. children's 
 stockings, @ $1.80. 5. Sold Geo. H. Stevens, for cash, 275 ;ff 
 jashmere, (§) 60?. Paid cash for an invoice of Mohairs, $147.30. 
 5. Paid for shelving, $6.25. Sold R. S. Otis, receiving in pay- 
 ment his check, 3 doz. Thibet shawls, @ $60; 2 doz. long shawls, 
 @ $90. 8. Sold W. H. Curtis, for cash, 360 fj^ blk. tamise, @ 65?. 
 9. Rec'd from T. R Foster, cash on <56, $467.50. Discounted 
 Davis W. Hunter's note, and received cash, $360. 10. Paid for an 
 invoice of shawls and gloves, $214.75. Paid express charges on 
 this invoice, $4.50. 11. Rec'd from Edward Sheldon, cash on 
 Jjfe, $250 12. Sold T. R Foster, on % 240 f^ shepherd's plaids, 
 ^35?; 160;^ tilliard cashmere, @ $2.30. 13. Paid for adver- 
 tismg in San Jose Mercury, $7.25. 15. Paid note, favor C. H 
 Osbom, less discount, $438. 16. Sold Edward Sheldon, on % 3 
 doz. Paisley shawls, @ $30; 320;^ Parsee cloth, @ 7?; 128;^ 
 debege, @ 35?. 17. Paid for an invoice of silks, bo't of Dunn & 
 Co., $285. Bo't of Fletcher & Co., on ^, an invoice of blk. silks, 
 $542.25. 18. Sold C. R Gibson, for cash, 245 :^ spring gingham, 
 @ ^?. Paid San Jose Times, for advertising, $8.50. 19. Rec'd 
 of r. R Poster, cash in full of acc't. 20. Bo't of Fletcher & Co., 
 on our note at 3 mos., 300 i^ check silks, @ 63?. 21. Sold M. H. 
 Hill, for cash, 275 i^ linen lawns, @ 20?; 120 j^ satin hemani, @ 
 45?. 22. Accepted Fletcher & Co.'s draft on us at 30 ds., favor 
 R W. Ford, in payment for silks purchased on 17th inst. 23. 
 Student drew out cash for private use, $225. 24. Bo't of Fletcher 
 & Co., on <5fe, an invoice of Mdse., $1895.45. 25. Rec'd of Edward 
 Sheldon, cash in settlement of his acc't. 26. Paid Fletcher & 
 Co., in full of acc't. 28. Sold R. A. Colman, on % 120 ;^ cam- 
 brics, @ 8?. 29. Rec'd of R. S. Otis, on ^ of his note, $50. 
 30. Paid B. A. Colman balance due him. Paid clerk's salary and 
 rent of store to date, $125. Inventory of Mdse. on hand, $7625.50. 
 
 122 
 
EXERCISES FOR THE STUDENT. 
 
 In the following set, let the student use the Journal-Day 
 Book form. 
 
 Set 3. A. Cochrane commences business, Aug. 1, 1883, with 
 the following resources and liabilities. Resources : Cash, $800; 
 Mdse.j $900 J and a note against A. Taylor for $250. Liabilities: 
 He owes F. M. Mills, on <^, $200. 
 
 Aug. 2. Sold H. V. Martin, on % 20 j^ silk, @ $2.50 j 5 ;K lace, 
 @ 25^; 6 j^ ribbon, @ 25^. Sold L. A. Bride, on <^, 50 )jC grena- 
 dine, @ 75^ ; 20 iji cassimere, @ $1.12J. Rec'd cash on (^, $50. 
 Rec^d for cash sales, $50. 3. Bo't of E. Asmus, 250 ^ plush, @ 
 $1.50, and gave in payment, my note at 30 ds., for $100, and 
 cash to balance acc't. Paid for sundry expenses, $15. 4. Sold 
 Miss I. C. Nichols, on ^, trimmings, $40; 20 jj^ sheeting, @ 12 J^; 
 40 jj( muslin @ $1.25; she gave us an order on H. V. Martin for 
 $42.50, which Martin paid. A. Coc^hrane takes out Mdse., $100, 
 cash, $100. Rec^d cash sales, $75. 3. Sold M. A. Parks, on note 
 at 30 ds., my collection of remnants, $250. Bo't of A. Stowell, 
 on % 2 Jersey jackets, @ $5; 25;^ linen, @ 20^. Gave A. 
 Stowell an order on L. A. Bride for $25. Found a purse contain- 
 ing $20; no one claimed it. 6. Paid F. M. Mills cash, on (^, $150. 
 H. V. Martin has failed ; we accept a compromise at 20 ^ on 
 the dollar. Rec'd, for cash sales, $100. 7. Found $10 missing 
 from the cash drawer. Sold F. M. Hayes my entire stock of 
 silks, $500; rec'd cash on % $250. Rec'd for cash sales, $100. 
 
 8. A. Stowell paid cash in full of ^^, $ Sold T. Cheeney, 
 
 for cash, 25;^ merino, @ $1.25; 90 ;ff linen lace, @ 12J^; 10;ff 
 satin, @ $2.50. Paid for paper, $5, pens, $1. A. Taylor paid 
 his note in full, $250. 9. Gave $50 to a charitable institution. 
 Bo't of D. Anderson, 400;^ linen, @ 25^; 1000 ;K calico, @ 
 12i^; 400;^ silk plush, @ $3.50. Paid $250, and gave him 
 note, at 30 ds., for balance due. 10. Deposited in the Bank of 
 San Jose, $800. Rec'd an order from A. StoweU, requesting 
 us to pay John Smith $50. Paid store rent, $75. Closed busi-. 
 ness, with Mdse. on hand, $1750. 
 
 Write this set in Journal-Day Book form, placing the Day 
 Book explanation at the right of the Journal entries. Use an 
 I. B. and a C. B.; do not keep a cash account in the Ledger. 
 
 123 
 
EXERCISES FOR THE STUDENT. 
 
 Set 4. Sacramento, Aug. 1, 1884. Student commenced busi- 
 ness with resources and liabilities as follows: Resources: Cashf 
 $3500; Mdsf. $1800 J an acc't against J. W. Webster for $325. 
 Liabilities: Henry Fish holds Student's note for $300, dated 
 July 1, 1884, at 60 ds. 
 
 Aug. 2. Bo't of John Fry, on ^, 100 kegs nails, $450; 4 
 doz. door locks, $32; 10 gate hinges, $7.50; 4 tons bar iron, 
 $200; 60 kegs Jay's pat'd horseslioes, @ $10. 3. Bo't of Travis 
 & Adams, 10 doz. nail hammers, @ $7.50; 50 doz. shovels, @ 
 $6.50; 8 doz. picks, @ $9; 6 doz. wheelbarrows, @ $22; gave 
 in payment our note at 30 ds., for $300; — cash for balance. 
 Cash sales, $102. 4. Sold J. Bishop, on (^, 50 kegs nails, @ 
 $5; 10 kegs pat'd horseshoes, @ $12.50; 4 doz. door locks, @ 
 $8.75. Pmd cash for stationer>' and stamps, $8.75. 5. Bo't of 
 Henry Diston, 2 doz. handsaws, @ $18; 1 crosscut-saw, 
 
 $25; 8 doz. butcher's bow-saws, @ $13.50; paid cash, $50; — 
 balance, on acc't. 6. Sold J. W. Lawrence, 50 doz. shovels, @ 
 $7.25; 4 doz. wheelbarrows, @ $23; rec'd in payment an order 
 on Henry Parker for the amt. 8. Rec'd of J. Bishop, cash in 
 full of acc't. 9. Bo't of J. W. Hubbard, on % 200 kegs nails, 
 @ $4.75; 2 doz. framing chisels, @ $8; 4 doz. chisel handles, 
 @ 75^. 10. Sold H. G. Bourne, 4 doz. butcher's bow-saws, @ 
 $14; 2 doz. nail hammers, @ $7.75; 3 doz. coal picks, @ $9; 
 1 ton bar iron, $55; rec'd in payment order on J. W. Webster 
 for $100; — cash for balance. 11. Paid John Fry, cash on ^, 
 $543.50. 12. Student has withdrawn $175, for private use. 13. 
 Sold J. Bishop, 2 doz. picks, @ $10; 1 doz. framing chisels, 
 $9; 2 doz. gate hinges, @ $8; 2 doz. chisel handles, @ 80^; 
 1 crosscut-saw, $30; rec'd in payment cash, $25; — ^balance on 
 acc't. 15. Paid J. W. Hubbard, on c^, cash, $125; order on 
 Henry Parker for $300. 16. Gave Henry Diston our note at 
 30 ds., to balance acc't. 17. Paid Travis & Adams, cash for 
 our note, their favor; face of note, $300, less interest for 16 
 ds., $2.40. 18. Sold J. Brown, 8 doz. hammers, @ $8; 30 kegs 
 pat'd horseshoes, @ .$15; rec'd his note, at 10 ds., for $200; 
 cash, $150;— balance on acc't. 19. Bo't of J. T. Hayward, 50 
 gross wardrobe hooks, @ $2.40; 75 gross screws, @ $2.25; 
 3 doz. pnming knives, @ $7.25; 10 doz. handsaws, @ $18; 3 
 
 124 
 
EXERCISES FOR THE STUDENT. 
 
 doz. inch framing cMsels, @ $15; gave in payment, J. Brown's 
 note of the 18th inst., for $200; our note, at 60 ds., for $200, 
 and cash for the balance. 20. Paid J. W. Hubbard, cash on 
 acc% $75. 21. Bo't of Welland & Co., for cash, 3 tons of coal, 
 @ $13, for use of store. 22. J. Brown having failed (after 
 redeeming his note of the 18th inst., which we had given in 
 pajonent to J. T. Harward), has compounded with us at 40 %, 
 paying cash for that amt.; — balance lost. 23. Paid clerks for 
 services to date, $125. 24. Sold J. W. Lawrence, on <^, 4 doz. 
 handsaws, @ $16.50. 25. Took an inventory and found Mdse. 
 on hand, $4106; coal, $26. 
 
 In this set use a four-column Journal-Day Book, as shown 
 in Model Set 3. 
 
 Set 6. Los Angeles, Feb. 1, 1884. P. G. TyrreU and Fred 
 Cauch commenced business to-day with resources and liabilities 
 as f oUows, gains and losses to be divided equally : F. G. Tyrrell 
 invests cash, $1800; Mdse., $2000; a 7w(e against G. W. Martiu 
 for $200, dated Jan. 1, 1884, at 90 ds. Fred Cauch invests cashj 
 $4500; and Frank Porter holds his notey at 4 months, for $500, 
 dated, Dec. 1, 1883. The firm agrees to assume this note. 
 
 Feb. 2. Paid, in advance, cash for rent of store, $100. De- 
 posited $5000 in Union Bank. 3. Bo't of Hamlin & Co., a 
 bill of Mdse., $1800; gave our note at 30 ds. for $600; a check 
 on Union Bank for $750; — balance on acc't. Bo't of PHeld & 
 Co., a bill of Mdse., $1146; gave in payment our note at 60 
 ds. 4. Cash sales to-day, $38. 5. Sold L. Andrews on fl|6, 20 
 1^ sheeting, @ 11^; 10;^ Irish poplin, @ 80f Paid cash for 
 repairing lock on store, $1.80. Cash sales, $100. 6. Sold Mrs. 
 R. Watson, 4S ;^ sheeting, @ 10^; 3 table-cloths, @ $1.25; 15 
 ^ alpaca, @ 60^; rec'd cash, $12; — balance on ^. Paid cash 
 for stationery and stamps, $2.50. Cash sales, $45. 8. Sold S. 
 Brown, on ^, 1 lace shawl, $60. Rec'd of Mrs. R. Watson, 
 cash on ^56, $4. Bo't of Mallory & Co., a bill of Mdse., $198; 
 gave our note, at 30 ds., for $100; — balance on ^. Cash sales, 
 $50. Discovered a $10 bogus coin in our cash. 9. Sold S. 
 Jones, on <^, 1 doz. spools thread, 75^; 4 papers pins, @ 20^; 
 15 j!^ black lace, @ 80^. Rec'd of L. Andrews, on ^, his order 
 
 125 
 
EXERCISES FOR THE STUDENT. 
 
 on R. Johnson for $10.20. Cash sales, $68. 10. Sold A. Buck- 
 minster, 16 a^ silk, @ $3.50; rec'd his sight draft, on Hamlin 
 & Co., for $50, and cash for balance. Fred Cauch drew out, 
 cash, $75, for personal use. Cash sales, $112. 11. Paid cash 
 for painting front of store, $38. Deposited $200 in Union 
 Bank. Sold B. R. Styles, 56;^ muslin, @ 10^; 2 doz. hair 
 nets, $4.50; 2 doz. hdkfs., $3.50; rec'd cash, $10; — balance on 
 acc't. Cash sales, $72. 12. Paid cash for window brush, $2; 
 one pane of glass, $2.50. Bo't of Dempster & Co., a bill of 
 Mdse., $395; gave a check on Union Bank for $295, and note, 
 at 60 ds., for balance. Sold Wm. Goodrich, on <}(;, 20 ff black 
 alpaca, @ $1; 10 ;ff black lace, @ $1.25. Cash sales, $89. 13. 
 F. G. Tyrrell drew out $80, for personal use. Bo't of S. J. 
 Klein, on ^, a bill of Mdse., $381. Sold C. V. Smith, 75 ff 
 cambric, @ 15^; \%1f linen, @ 18^^; 2 rubber combs @ 30^; 
 rec'd cash, $5; — balance on acc't. Cash sales, $24. 15. Rec'd 
 of W. Goodrich, cash on % $25. Sold C. C. ColUns, on ajc, 30 
 # black braid @ 15?; 12 # Scotch plaid, @ 50?. Sold W. 
 Barber, on ^, ^ if muslin, @ 10?; 3 window-shades, @ $1. 
 Paid S. J. Klein, on ajc, $100. Cash sales, $110. 16. Dis- 
 counted note held by Frank Porter, paying for same, $486, by 
 check on Union Bank. Sold J. R, Deaton, 28 ff calico, @ 10?; 
 38;ff delaine, @ 15?; rec'd casli, $5; — balance on acc't. Bo't of 
 Hamlin & Co., by check on Union Bank, a bill of Mdse., $218. 
 Paid cash for whitewashing, $8. Paid S. J. Klein, on fl|fc, $50. 
 17. Sold W. Barber, on ^Jfc, 50 ;ff alpaca @ 25?. 18. Sold W. 
 Goodrich, on ^, 40 ;ff delaine, @ 16?. Paid clerk's salary^ by 
 check on Union Bank, $60. Cash sales, $40. 19. Paid Hamlin 
 & Co., cash for our note of 3d inst.: face of note, $600; discount 
 on same, in our favor, $4.50. 20. Took an inventory and found 
 Mdse. on hand, $5388. 
 
 Set 6. The partners in this business are A. S. WiUiams 
 and J. E. Gibson. Gains and losses are to be divided in pro- 
 portion to the amount invested by each. Commenced business 
 Sept. 1, 1883. A. S. Williams invests Mdse., $1400; cos/i, $500, 
 and an account against M. A. Treat for $200. J. E. Gibson 
 invests caah^ $2400; a iioie against James Pearl, dated Aug. 1, 
 1883, at 90 ds., for $400. 
 
 ;a6 
 
EXERCISES FOR THE STUDENT. 
 
 Sept. 2. Deposited $2600 in Farmers' Bank. Paid, in ad- 
 vance, cash for rent, $80. Sold E. P. Heald, on ojc, 1 case 
 American prints, 1410;!^, @ 10^ j 2 cases Union gingham, 1785 
 ;^, @ lljf. Cash sales, $70. 3. Sold Geo. Bybee, for cash, 
 875 ]^ Scotch gingham, @ 15^^. Sold Peter Ament, on ^, 50 
 f^ Union gingham, @ 12^^; 25 f^ French cassimere, @ $1.25. 
 Sold John Elder, on % 20 1^ white flannel, @ 90^; 40 ;^ woolen 
 tweeds, @ 55^. Bo't of James Nunnelly, by check on Farmers' 
 Bank, a bill of Mdse., $900. Cash sales, $88. 4. Bo't of W. 
 A. Miller, on 60 ds/ credit, 10 pieces French broadcloth, 200 ff 
 @ $3.75. Sold Geo. Bybee, on note at 4 months, a bill of 
 Mdse., $150. Rec'd of M. A. Treat, on <^, $50. Cash sales. 
 $78. 5. Sold John Elder 100 ;f^ French broadcloth, @ $4.25; 
 rec'd his note, at 60 ds., for $200 j — balance on acc't. Paid for 
 3 tons of coal, for the store, by check on Farmers' Bank, $28; 
 John Owen has worked for us 5 ds., @ $2.50, and we have 
 credited him for that amount. Cash sales, $41.25. 6. Dis- 
 counted Geo. Bybee's note at Farmers' Bank and rec'd cash, 
 $132.50. Bo't of Chas. Curtis, on our note at 90 ds., a bdl of 
 Mdse., $200. Rec'd of James Pearl a check on Farmers' Bank 
 for $200, in part payment of his note; deposited check in the 
 bank. Cash sales, $80. 8. Sold James Nunnelly, on <56, 50 ff 
 Valencia, @ 40^; 120;^ alpaca, @ 30?. Deposited $100 in 
 Farmers' Bank. Paid W. A. Miller $100 on <56, by check on 
 Farmers' Bank. Paid cash for stationery, $4.75. Rec'd of E. 
 
 P. Heald, to balance acc't, his note at 60 ds., for $ Gave 
 
 W. A. Miller an order on John Elder for $100. 9. Burglars 
 broke into our store and stole $150, cash; we paid a detective 
 $50 to arrest the burglars, and we recovered $75. Sold Peter 
 Ament, on <^, 50 f^ Merrimack prints, @ 15?. Cash sales, 
 $102. 10. Accepted W. A. Miller's draft on us, at 30 ds., for 
 $200. Sold James Nunnelly, on <^, 10 ff broadcloth, at $3.80; 
 20 y Eng. prints, @ 10?. Discounted our note of the 6th inst., 
 favor Chas. Curtis, and gave a check on Farmers' Bank for 
 the proceeds, $188. 11. Rec'd of M. A. Treat, cash to balance 
 
 acc't., $ Peter Ament has failed and we have lost his 
 
 acc't. Paid clerk's salary in cash, $60. Sold John Owen, on 
 ff-, 4 white shirts, @ $175. Cash sales, $60. 12. Deposited 
 
 127 
 
EXERCISES FOR THE STUDENT. 
 
 $75 in Farmers* Bank. Sold James Nunnelly, on ofc, 6 white 
 shirts, @ $1.50; 8 pr. socks, @ 25^; 1 umbrella, $1.50. Cash 
 sales, $50. 13. Cash sales, $42. 15. Sold John Owen 25 j^ 
 cassimere, @ 75^. Donated cash, $15, to free library fund. 
 Took an inventory and found unsold Mdse. on hand, $1860. 
 Coal, $18. 
 
 Set 7. G. A. Mills commenced business Aug. 1, 1883, witli 
 resources and liabilities as follows: Resou^ce^: Cashj $1775; 
 Mdse., $250; due from Frank Porter, on ^, $150; due from 
 J. E. Raker, on ^, $175; a note against G. W. Koch, dated 
 July 17, 1883, at 2 mos., for $150. Liabilities: G. A. Mills 
 owes W. H. Bailey on acc% $107.50; a note, dated July 15, 
 1883, at 3 mos., favor W. O. Blodget, for $375. 
 
 Aug. 2. Sold E. Zummalt, 1 pr. boots, $7.50; 1 suit clothes, 
 $42 J rec'd his note, at 60 ds., for $45; — balance on acc't. Rec'd 
 from H. Everett an invoice of Mdse. on 2 months' credit, $250. 
 Cash sales, $48.25. 3. Bo't of Wm. Locke, 20 overcoats, @ 
 $20; 100 gents' neck-ties, @ 75^; 25 doz. hdkfs, @ $2.20; 25 dress 
 hats, @ $3.50; gave him E. Zummalt's note in part payment; 
 — ^balance on acc't. Paid cash for advertising, $6.50. Lent 
 Marine Gage, cash, $15. Cash sales, $150. 4. Sold Frank Canch, 
 for cash, 1 pr. calf boots, $7; 2 prs. shoes, @ $5; 5 prs. gents' 
 hose, @ 75f ; 1 suit clothes, $42. Bo't of Frank Graham, an 
 assortment of gents' fancy goods, $200; gave him an order on J. 
 E. Raker for $100; — ^balance on acc't. Accepted W. H. Bailey's 
 draft on us at 30 ds.' sight, favor of John Sullivan, for $100. 
 Cash sales, $175. 5. Sold Ben Cory, on his note at 30 ds., 50 
 ^ extra fine cloth, @ $5.50. Sold Robt. Adcock, 1 hat, $6; 2 
 prs. boots, @ $7.50; 2 neck-ties, @ $1.50; 3 fine white shirts 
 @ $2; rec'd cash, $15; — balance on acc't. Cash sales, $80. 6 
 Rec'd of G. W. Koch, cash in full for his note. Sold W. H 
 Bailey, on <^, 3 doz. buttons, @ 75^; 25;^ trimming, @ 20^ 
 2 caps, @ $1.50; 3 prs. cuffs, @ 75^; 5 silk hdkfs., @ $2 
 Bo^t of J. Zielan, on our note at 90 ds., 300 prs. pants, @ $5 
 Cash sales, $100. 8. Sold Ben Cory, 1 suit clothes, $40; 2 prs 
 boots, @ $7; 9 prs. silk hose, @ $1.25; 6 white shirts, @ $2; 
 rec'd his note, at 60 ds., for $50; — balance in cash. Rec'd cash 
 
 128 
 
EXEECISES FOR THE STUDENT. 
 
 in full of acc't, of Robt. Adcock. Paid our note of July 15th, 
 in full; face of uote, $375, — interest on same, in our favor, 
 $3.75. Rec'd of Marine Gage, cash on ^, $15. Cash sales, 
 $125. 9. Bo't of Bancroft & Co., on 0/0, stationery for the 
 business, $27.50. Sold James Buchanan, Ben Cory's note of 
 the 8th inst. for $45 cash. Paid H. Everett, cash on ^, $200. 
 Rec'd a $10 counterfeit bill in exchange for Mdse. Cash sales, 
 $87. 10. Paid J. Trimble $400 cash, for a uote against V. 
 Domberger, due in 30 ds.; face of the note, $415. Cash sales, 
 $40. Sold E. Zummalt, 1 suit clothes, $28.50; 1 hat, $4.50; 
 rec'd an order on S. Grant for the amt. 11. Paid clerk's sal- 
 ary, $40. Sold J. J. Agostine, on his note at 90 ds., our as- 
 sortment of clothing, amounting to $950. Cash sales, $108. 
 12. Rec'd of V. Domberger, for his note, cash $412. Bo't hi 
 J. E. Gibson, on our note at 6 mos., a bill of Mdse., $1150. 
 Took an inventory, and found unsold Mdse. on hand, $1735. 
 Stationery, $12.50. 
 
 Set 8. Suisun City, Oct. 1, 1884. Moses Frank and Ed. 
 Dinkelspiel engage in a general merchandise business — losses 
 and gains to be equally divided — with resources and liabilities 
 as foUows: Moses Frank invests cash^ $1500; Mdse.^ $3000. 
 Ed. Dinkelspiel invests cash, $4500, and an account against 
 Wm. Kennedy for $300. Ira Parker holds Ed. DinkelspiePs 
 noU, dated Sept. 1, 1884, at 3 mos., for $300. 
 
 Oct. 2. Deposited, $5500 in Suisun Bank. Paid H. Crocker 
 $7, for a set of account books. Sold Emma Keeney, on ^^fc, 1 
 pr. shoes, $3.25; 16 ff blue silk, @ $1.75. Sold Luella Gillespie, 
 on ^, 1 Ottoman shawl, $15; 1 doz. damask towels, $2.50; 
 20 ]^ blue denim, @ 20^. Loaned Harry Edwards, $20. Cash 
 sales, $61. 3. Bo't of A. T. Stewart, N. Y., on o/c, 2 pes. Irish 
 linen, 110 ff, @ 40^; 10 doz. linen napkins, @ $1.25; 2 pes. 
 gingham, 120 ff, @ 15^ ; 5 doz. ladies' merino vests, @ $8. 
 Sold Willie Losh, 1 pr. boots, $3.50; 1 suit clothes, $16; rec'd 
 cash, $10; — balance on acc't. Paid for horse and wagon for 
 the business, by check on Suisun Bank, $220. Cash sales, $68.50. 
 4. Bo't of Henry Beck, the store in which we are doing busi- 
 ness, and gave check on Suisun Bank, $1500, and our note, at 
 
 129 
 
EXERCISES FOR THE STUDENT. 
 
 3 mos., for $500. Sold Calviu Webster, on <^, 1 suit clothes, 
 $38. Sold Emma Keeney, on <^, 2 prs. linen cuffs, 60^; 1 pr. 
 gloves, $1.75; 5;ff ribbons, $1.25. Rec'd from W. Keimcdy, 
 on <^, an order on H. McEwen for $40. Bo't of Henr>' Pang- 
 bum, for cash, 500 ff prunes, @ 12J^*. Rec'd cash on o^, of 
 Luella Gillespie, $10. C^ash sales, $41.80. 5. Sold Chas. O'NeU, 
 on his note at 90 ds., a bill of Mdse., $90. Accepted A. T. 
 Stewart's draft on us, at 30 ds.' sight, favor of John Henry, 
 for $100. Bo't of Jones & Co., on our note at 4 mos., an in- 
 voice of grfH'eries, $800. Deposited $190, in Suisun Bank. 
 Cash sales. $89. (>. Sold Horace Crocker, on ^, 2 bbls. flour, 
 @ $6.50: 25 /^ bac<m, @ 20c*; 1 pr. boots, $6.50. Rented H. 
 Hubbard a room in our store for an office, and rec'd one month's 
 rent in advance, $20. Cash sales, $56. 8. Sold Willie Losli, 
 on <^, a bill of Mdse., $18.50. Paid Mrs. Tidy, for washing 
 windows, $3.50. Sold Horace Crocker a bill of groceries, $27.50; 
 rec'd cash, $20;— balance on acc't. Sold Thos. Short, on <^, 
 220;^ sugar, @ 13<^. Ed. Dtnkelspiel drew out cash, $75, for 
 personal use. Cash siUes, $88. 9. Moses Frank has had gro- 
 ceries to the amount of $58. Sold Luella Gillespie, on ^, a 
 bill of groceries, $15.25. Sold J. W. Price, on ^, 1 keg powder, 
 $6.50; 1 bag shot, $2.75; caps and wads, $1.75. Willie Losh 
 returned 1 bx. crackers, $2.25. Discounted Ed. Dinkelspiel's 
 note, favor Ira Parker, and paid $288 for it, by check on 
 Suisun Bank. Cash sales, $108. 10. Wm. Kennedy paid us, 
 cash on <5fc, $50. Chas. Barnes repaired the sidewalk in front 
 of our store; charged $10, and took groceries for that amt. 
 Sold J. W. Price a bill of groceries, $16.50; rec'd cash, $10;— 
 balance on acc't. Thos. Short absconded, and we have lost his 
 acc't. Cash sales, $71.50. 11. Discounted our note of the 4th 
 inst., and paid $480, by check on Suisun Bank. Cash sales, 
 $100. 12. Took an inventory and found Mdse. in store, $3310; 
 store, valued at $2000; horse and wagon, $220. 
 
 Set 9. Fresno, Nov. 1, 1884. Student commences business 
 with cashj $5000, and a 7wte against W. J. Black, dated Aug. 
 1, 1884, at 90 ds., for $350. 
 
 Deposited in City Bank, $4700. ^ 
 
 130 
 
EXERCISES FOR THE STUDENT. 
 
 The usual way is to consider the money in the bank as cash on hancL 
 and to keep the account with the bank by means of the Bank Book ana 
 Check Book. Some prefer, however, to keep an account with the bank in 
 their Ledger, in the same manner as accounts with persons, debiting the 
 bank for deposits made, and crediting it for checks drawn on the same. 
 
 Bo't of Cook & Co., of N. Y., an invoice of groceries, $4000; 
 gave our check on City Bank for $2000 j — ^balance on acc't. 
 
 2. Rented a store of H. Witherspoon at $100 per month, and 
 paid, cash, $25 in advance. 
 
 Bo't of Geo. Duncan, on onr note at 3 mos., 2J tons dried 
 prunes, @ $220; 2 tons diied apples, @ $100. 
 
 Shipped by S. P. R. R., and consigned to Adams & Co., San 
 
 Francisco, to be sold on our account and risk, 2 tons dried 
 
 prunes, @ $220; IJ tons dried apples, @ $100; — paid cash for 
 
 drayage and freight, $15. 
 
 Goods sent abroad, to be sold for your account, must not be debited to 
 the consignee, but must liave a specifio title, under which to keep an ac- 
 count of them, just as goods at home have the title of " Mdse." The title 
 usually given is " Shipment," or " Adventure," to such a place or such a 
 party. You may call this "Shipment to San Francisco, No. 1." 
 
 Cash sales, $125. 
 
 3. Sold Eva Hasty, on ^, 100 ;ff dried prunes, @ 15^; 120;^ 
 sugar @ 13^. 
 
 Sold J. W. Sullivan 5 bbls. salt, 9S0 ;f^, @ 2<'; 200 ;f^ salt 
 pork, @ 18^; 75;^ cheese, @ 20^; rec'd, cash, $25; — balance 
 on acc't. 
 
 Accepted Cook & Co.^s draft on us, at 30 ds.' sight, favor J. 
 W. Price, for $500. 
 
 Paid $180, for a horse and wagon for the business, by check 
 on City Bank. 
 
 Cash sales, $160. 
 
 4. Deposited $200 in City Bank. 
 
 Sold Marine Gage, on his note at 30 ds., a bill of Mdse., 
 $160. 
 
 Paid for advertising, cash, $8.50. 
 
 Bo't of H. F. Clark, 500 C. of wheat, @ $1.70; gave in part 
 payment, Marine Gage's note at $150; our note for $300, at 
 90 ds.; — balance on acc't. 
 
 In this transaction we have discounted Marine Gage's note, 
 
 Rec'd of Eva Hasty, on ^, 10 ;^ egg, @ 35^. 
 
 131 
 
EXERCISES FOR THE STUDENT. 
 
 Sold A. M. Gray, on <5fe, 150 ilK rice, @ 6^j 50 C. wheat, @ 
 $1.85. 
 Cash sales, $117. 
 
 5. Rec*d an Account Sales from Adams & Co., of the dried 
 fruit, sent them on the 2d inst.j net proceeds, $625. Adams 
 St Co. sent a sight draft, on Bancroft & Co., for $500; — balance 
 on acc^ 
 
 The debits in this transaction are Cash aud Adams & Co.; credit Ship* 
 ment to San Francisco, No. 1. 
 
 Rec'd from Frank & Sons, Suisun City, 500 sks. potatoes, 
 @ $1 per sk., to be sold on commission at 5%. They to pay 
 freight, drayage, et<5. 
 
 We paid drayage on this shipment, $4.50. 
 
 In this transaction make a memorandum, stating that the goods were re-> 
 eeived, but make no Journal entry. Afterwards debit Fra^ & Sons to* 
 mU eoets to ns, and credit them for sales. 
 
 Cash sales, $210. 
 
 6. Sold 100 sks. of Frank & Son's potatoes for cash, @ $1.40 
 per sk. 
 
 Discounted our note, favor Geo. Duncan, and paid for same 
 by check on City Bank, $742. 
 
 Deposited the sight draft for $500, rec'd on the 5th inst., in 
 City Bank. 
 
 Sold the balance of Frank & Sons' potatoes, 400 sks., to 
 John Cary, on his note, at 60 ds., for $560. 
 
 Rendered an Account Sales to Frank & Sons; our commis- 
 flon, which we have deducted in cash, is $35; drayage, $4.50; 
 total, $39.50. Sent Frank & Sons our check, on City Bank, for 
 $100.50, and John Cary's note for $560. 
 
 Cash sales, $89. 
 
 8. Sold Greo. Duncan, on <}fc, a bill of groceries, $87.50. 
 
 Sold Peter Crank, 10 bbls. flour, @ $6.50; 5 sks. potatoes, 
 @ $1.40; rec'd cash, $30; — ^balance on acc't. 
 
 Deposited $250 in City Bank. 
 
 W. J. Black paid, cash, for his note and interest on same: 
 face of note, $350; interest, $7.50. 
 
 Bo't of Chas. Owen, by check on City Bank, an invoice of 
 groceries, $500. 
 
 132 
 
EXERCISES FOR THE STUDENT. 
 
 Student withdrew, for private use, by check on City Bank, $150. 
 Peter Crank died insolvent, and we have lost his account. 
 Sold H. F. Clark, on % a biU of Mdse., $70. 
 Sold Eva Hasty, on <j6, a bill of groceries, $18.25. 
 City Bank failed, and we rec'd, cash, 40 % of amt. on deposit. 
 Took an inventory and found Mdse. on hand, $4460; horse 
 and wagon, $175. 
 
 Set 10. Fresno, Nov. 15, 1884. Student has this day asso- 
 ciated with him in a general merchandise business, Fred Childs, 
 who is to invest, in cash, an amount equal to Students net in- 
 vestment, as determined at close of preceding set. Gains and 
 losses to be shared equally. 
 
 Deposited $4000 in Bank of Fresno. 
 
 Paid Cook & Co., $500, by check on Bank of Fresno. 
 
 Rec'd of J. W. SuUivan, $30 on Qjc, 
 
 Accepted H. F. Clark's draft on us, 30 ds.' sight, favor J. 
 B. Atchinson, for $200. 
 
 Cash sales, $78. 
 
 16. Sold A. M. Gray, on ^jfc, 500;J^ ground barley, @ $1.80 
 per C. 
 
 Sold Eva Hasty, on ^, 1 keg syrup, $3.75 j 1 case kerosene, 
 $3.50. 
 
 Bo't of Cook & Co., by check on Bank of Fresno, a bill of 
 Mdse., $1175. 
 
 Rec'd from Geo. S. Wells, San Jose, 8 tons of flour, @ $70, 
 to be sold on commission at 4J%. 
 
 Rec'd from Geo. Duncan, on ^jfc, an order on Ira Parker for 
 $40. 
 
 Cash sales, $116. 
 
 17. Sold Florence Childs, on of,, 10 ff silk velvet, @ $1.50,- 
 8 ff cashmere, @ 75^; 6 prs. hose, @ 50^. 
 
 Sold Thos. Hardie, on ^, a bill of groceries, $28.75. 
 
 Sold John Adams, fo/ cash, 600 ;f^ Wells's flour, @ $3.75 
 per C. 
 
 Shipped to Farmers' Union, San Jose, to be sold on our ac- 
 count, 4^ tons dried prunes, @ $200. 
 
 Sold J. W. Sullivan, 180 ;ff sugar, @ 14^ j 50;^ rice, @ 6^; 
 
 133 
 
EXEKC18ES FOR THE STUDENT. 
 
 600 ;K flour, @ $3.80 per C; rec'd cash, $20;— balance on 
 acc^t. 
 
 Deposited $160 in Bank of Fresno 
 
 Sold Loyd Childs, on his note @ 60 ds., 1} tons of prunes, 
 @ $240. 
 
 C^ash sales, $68. 
 
 18. Sold, for cash, li tons Wells's flour, @ $80. 
 Paid cadi for a set of acc't books, $9.50. 
 
 Sold Florence Childs, on <^, 1 cloak, $12; 1 pr. shoes, $3.25. 
 Sold Thos. Hardie, on ^, 800 ;^ wheat, @ $1.65 per C. 
 Cash sales, $160. 
 
 19. Deposited $250 in Bank of Fresno. 
 Rec'd, cash on ^, of Florence Childs, $15. 
 
 Loyd Childs has returned 500 ;^ dried prunes, @ 12^. 
 Paid cash for stationery, $3.75. 
 
 Bo't of John Adams, on our note at 3 mos., a bill of Mdse., $240. 
 Cash sales, $108. 
 
 20. Paid for advertising, by check on Bank of Fresno, $10.50. 
 Sold J. F. Ogden, on ^, 50 ;^ cheese, @ 20^; 25;^ codfish, 
 
 @ 8^; 50 /^ dried peaches, @ 16?. 
 
 Sold the remainder of Wells's flour, for $500, cash. 
 
 Sold Thos. Hardie IJ tons dried prunes, $340; rec'd check 
 on Grangers* Bank for $140; note at 30 ds. for $160; — ^balance 
 on acc't. 
 
 Sold Geo. Duncan, on ^jfc, 4 boxes soap, @ $1.25; 1 keg 
 syrup, $3.75. 
 
 Traded horses, and gave cash $25, to boot. Deposited $600 
 in Bank of Fresno. 
 
 Rendered an Account Sales to Geo. S. Wells for the flour 
 shipped us on the 16th inst. Our commission is $28.90; sent 
 Wells our check, on Bank of Fresno, for the balance. 
 
 Cash sales, $78. 
 
 21. Rec'd of A. M. Gray a draft on the Commercial Bank, 
 San Francisco, for balance due us on acc't. 
 
 Gave Cook & Co. an order on Thos. Hardie for $75. 
 
 Donated $20 to the Ladies' Aid Society. 
 
 Paid clerk's salary, $75. 
 
 Rec'd $75 from Loyd Childs, to apply to his note of 17th inst. 
 
 134 
 
EXERCISES FOR THE STUDENT. 
 
 Sold J. F. Ogden, on ojc^ 120 ;K mess pork, @ 20^j 5 ;K vin- 
 egar, @ 40^. 
 
 Bo't of Moss & Co., a bill of Mdse., $1200; gave our check 
 on Bank of Fresno for $500; — balance on acc't. 
 
 Cash sales, $116 
 
 22. Sold J. F. Perez a bill of Mdse., $85; rec'd cash, $50;— 
 balance on acc't. 
 
 Sold Geo. Duncan, on <^, 5 bbls. flour, @ $7.25. 
 
 Sold Florence Childs, on % 1 shawl, $9; 1 pr. shoes, $3.25. 
 
 Cash sales, $68.50. 
 
 23. Sold Thos. Hardie, on ^, a bill of Mdse., $48. 
 Deposited $125 in Bank of Fresno. 
 
 Gave Moss & Co., on ojc, Thos. Hardie's note of the 20th inst. 
 
 Rec'd an Account Sales from Farmers' Union, of prunes 
 shipped them on 17th inst. Our net proceeds are $1065; we 
 rec'd a draft on Hibemia Bank, San Francisco, for that amt. 
 Deposited this draft in Bank of Fresno. 
 
 Cash sales, $78. 
 
 24. Sold J. F. Perez, on <^, 1 pr. boots, $7.50; 4 white shirts, 
 @ $1.75. 
 
 Student drew out cash for private use, $120. 
 Fred Childs has taken groceries to date, $67.50. 
 Cash sales, $100. 
 
 25. Rec'd from J. F. Perez, on <56, 24 ;K eggs, @ 35^. 
 Sold J. F. Ogden, on ojc, 28 C. of wheat, @ $1.80. 
 
 Took an inventory and found Mdse. on hand, $4130; horse 
 and wagon, $190. 
 
 MODEL SET IV. 
 
 This set illustrates a method of posting from three books of 
 original entry — the Journal-Day Book, Cash Book, and Sales 
 Book. The Bill Book, Check Book, and Ledger complete the 
 books used in the set. 
 
 By the addition of an extra column, headed " Mdse. Dr.," in 
 which only purchases of merchandise are entered, the Joumal- 
 
 135 
 
MODEL SET IV. 
 
 Day Book serves also as Invoice Book, in a condensed form. 
 The bills of purchases are posted in a blank book, as in pre- 
 ceeding sets. 
 
 The items entered in the columns headed "Sunds. Dr./^ and 
 "Siinds. Cr./' of the Journal-Day Book, are posted, aS from an 
 ordinar}' Journal, separately to the Ledger. The totals of 
 Mdse. column are brought forward from page to pagej the 
 total footing — covering either a day, week, or month, as may 
 best accord with the business — being finally carried to the debit 
 of Mdse. account in the Ledger. 
 
 The Sales Book contains sales of Mdse. only. The net amount 
 of each sale is carried to the right-hand column, and the foot- 
 ing of this column is brought forwjird from page to page, un- 
 til the end of the day, week, or month, as desired j the total 
 footing being then posted to the credit of Mdse. account. The 
 debits, in the Sales Book, are separately posted, in the usual 
 way. 
 
 The Check Book contains a record of all transactions with 
 the bank. The bank is debited for deposits, by entering tho 
 amounts, with the proper explanation, in the Check Book, and 
 credited for the amounts withdrawn by check. No account is 
 kept with the bank in the Ledger; the amount in bank being 
 treated as cash on hand. 
 
 The Cash Book contains a record of all cash transactions. 
 Special columns are used in order to facilitate the work of 
 posting. The footings of the special columns are posted daily, 
 weekly, or monthly. No cash account is kept in the Ledger. 
 The sum of the debit columns, "Sunds.'' and "Mdse.," shows 
 the amount of cash received; the sum of the credit columns, 
 "Sunds." and "Expense," the amount of cash paid out. The 
 difference between these sums is equal to the amount of cash 
 in the safe or drawer. Cash in drawer, plus amount in bank, 
 shows the total of cash on hand. 
 
 Oakland, March 1, 1884. Student commenced business with 
 cash, $10000, and a 7iote against Geo. Oberholtzer, dated Feb. 1, 
 ^884, at 60 ds., for $500. Student owes F. M. Righter, on % $200. 
 
 Deposited in City Bank, cash, $9500. 
 
 136 
 
. UNIVERSITY 
 
 MODEL SET lY. 
 
 2. Bo't of Jayne & Son, ou «!6, 100 bxs. raisins, @ $3.25, 
 40 doz. 2 if cove oysters, @ $5; 100 doz. '^ff canned peaches^. 
 @ $5j 300 bbls. floui- @ $8. 
 
 Sold S. Thompson, on «|6, 20 doz. "Iff cove oysters, @ $6; 
 30 bxs. raisins, @ $4.25; 10 bbls. flour, @ $9. 
 Cash sales, $38. 
 
 3. Sold Jas. CampbeU, for cash, 20 bbls. flour, @ $9j 20 
 bxs. raisins, @ $5; 10 doz. Iff cove oysters, @ $5.50. 
 
 Sold Ira More, on his note at 90 ds., 10 bxs. raisins, @ $5j 
 5 doz. Ilf cove oysters, @ $6j 20 doz. Zif canned peaches, 
 @ $G; 50 bbls. flour, @ $9. 
 
 Bo't of Wm. Smith, on our note at 30 ds., 150 bbls. Gikoy 
 flour, @ $7 J 150 doz. 1 ff cove oysters, % $2.50 j 3,000 ff cheese, 
 % 10^; 100 bbls. apples, @ $3j 20 sks. Rio coffee, 3,000 ff, % 15^. 
 
 Paid for 2 tons coal for the store, cash, $24. 
 
 Cash sales, $40. 
 
 4. Bo't of Joseph Baker, by check on City Bank, 10 hhds. 
 N. O. sugar, 1,200 ;Jf, % 10<Z!; 12 bbls. mess beef, @ $20; 12 
 bbls. prime pork, @ $15. 
 
 Rec'd of S. Thompson, on f^, $200. 
 
 Deposited $500 in City Bank. 
 
 Bo't of Geo. Underwood, a horse and wagon for the store; 
 paid, check on City Bank, $200. 
 
 Sold J. L. Mosher, on % 10 bbls. prime pork, @ $17; 10 
 bbls. mess beef, @ $21; 5 hhds. N. O. sugar, 6,000;^, @ 11^; 
 10 sks. Rio coffee, 1,000 ;K, % 14^; 50 bbls. apples, @ $4. 
 
 Exchanged notes with Geo. Mai-tin, for our mutual accom- 
 modation, each note drawn at 30 ds., for $600. 
 
 Discounted Geo. Martin's note at London Bank, and received, 
 cash, $590. 
 
 5. Accepted Jayne & Son's draft on us, at 30 ds.' sight, favor 
 Geo. P. Anderson, for $1200. 
 
 Sold Ira More, 20 bbls. Gilroy flour, @ $8; 100 bbls. family 
 flour, @ $9; 20 doz. 1 ff cove oysters, % $2.75; 10 bbls. ap- 
 pies, @ $4; rec'd, cash, $200, his note at 60 ds. for $500; — 
 balance on (^. 
 
 Bo't of H. F. Clark, 50 bbls. white fish, @ $9; 50 bbls. No. 
 1 ma<}kerel, @ $10; 40 bbls. S. I. sugar, 8,000 ;f^. @ 10^; gave 
 
 137 
 
MODEL SET IV. 
 
 in payment Ira Mere's note for $490 (face of note, $500) ^ check 
 on Cit}' Bank for $900; — ^balance on acc't. 
 
 Sold John Utter, for cash, 25 bbls. white fish, @ $10; 20 
 bbls. S. I. sugar, 4,000 If, @ 12^. 
 
 Deposited in City Bank, cash, $600. 
 
 6. Sold Agnes Parsons, on ^jfc, 1,500 i^ cheese, @ 15^. 
 
 Paid for repairing wagon, cash, $12. 
 
 Rec'd from J. L. Mosher, on <jfc, a sight draft on Ames & 
 Co., for $400. 
 
 Gave F. M. Righter an order, on Agnes Parsons, for $150. 
 
 Sold John Utter, on <)fe, 10 bbls. mess beef, @ $21; 10 bbls. 
 prime pork, @ $15. 
 
 8. Sold Wynn Reeves, on % 20 bbls. flour, @ $8.50. 
 
 Sold Wm. Kinloch, for cash, 20 cases kerosene, @ $2.50; 4 
 doz. parlor lamps, @ $15. 
 
 Deposited sight draft, rec*d on 6th inst., in City Bank. 
 
 Discounted our acceptance of the 5th inst., favor Geo. P. 
 Anderson, and paid, cash, $1185. 
 
 9. Took an inventory and found Mdse. on hand, $2900; 
 horse and wagon, $190. 
 
 8bt 4.] 
 
 CHECK BOOK STUBS. 
 
 f 
 
 •I: 
 
 \ 
 
 rs'?? 
 
 S S s 
 
 V 
 
 March 
 No. 
 Date, 
 To 
 For 
 Amt 
 
 March 
 No. 
 Date, 
 To 
 For 
 Amt . 
 
 4. Depouted 
 
 2. 
 
 Martsh 4. 
 
 Geo. Underwood. 
 
 Honie and wagon. 
 
 1, 1884, Deposited. . 
 1. 
 
 March 4. 
 Joseph Baker. 
 Mdse. 
 
 il 
 
 138 
 
Set 4.] 
 
 JOURNAL-DAY BOOK. 
 
 OAKLAND, March i, 1884^ 
 
 L.P. 
 
 T 
 
 141 
 141 
 
 141 
 141 
 
 141 
 1431 
 
 141 
 143 
 
 141 
 
 V 
 
 142 
 
 V 
 
 141 
 1421 
 
 143 
 142 
 
 141 
 142 
 141 
 141 
 
 V 
 
 141 
 1421 
 
 Cash 
 
 Bills Receivable 
 
 Student 
 
 For Investment. 
 
 Student 
 
 F. M. Righter 
 
 Due on <^. 
 
 2. 
 
 Mdse 
 
 Jayne & Son 
 
 Per Invoice Book. 
 3. 
 
 Mdse 
 
 Bills Payable 
 
 Bo't by note at 30 ds., as per I. B. 
 4. 
 
 Mdse 
 
 City Bank 
 
 Bo't by check, as per I. B. 
 
 Expense 
 
 City Bank 
 
 Paid for horse and wagon, by check. 
 
 Bills Receivable 
 
 Bills Payable 
 
 Exchgd. notes for mutual accommod'n. 
 5. 
 Jayne & Son 
 
 Bills Payable 
 
 Accepted draft on us, favor Geo. P. 
 Anderson, 30 ds. 
 
 Mdse \\ 
 
 Discount and Interest 
 
 H. F. Clark 
 
 Bills Receivable 
 
 City Bank 
 
 Bo't, as per I. B., and gave Ira More's 
 note for $490 (face of note $500); 
 check on bank ; — balance on ^. 
 
 6. 
 
 F. M. Righter 
 
 Agnes Parsons 
 
 Gave an order on A. Parsons. 
 
 139 
 
 Md6k. Dr. 
 
 3425 
 
 2475 
 
 C40 
 
 1760 
 
 8190 
 
 SUNDS. DB. 
 
 10000 
 500 
 
 200 
 
 200 
 
 600 
 
 1200 
 
 10 
 
 150 
 
 12860 
 
 SUNDS. Gb. 
 
Srr4.] 
 
 SALES BOOK. 
 
 OAKLAND, March Jf, I884. 
 
 L.P. 
 
 142 
 
 141 
 
 142 J 
 
 141 
 141 
 
 142 
 
 143 
 
 143 
 
 S. Thompsok, Smi Jom. 
 
 20 dot. 2 « Cove Oysters, @ |6. . . .$120. 
 
 30 bxs. Busins, 4.25... 127.50 
 
 10 bbU. Flour, 9. . . . 90. 
 3. 
 Ca.su, Jas. Caxfbkll. 
 
 20 bbls. Flour. ^ |0. . 
 
 20 bxs. Rjuains 5. . 
 
 10 doB. 2 /^ Cove Oysters, 5.50. 
 
 $180. 
 . 100. 
 . 65. 
 
 Bills Rktrtvablb, Ira Mokb, Note, 90 ds. 
 
 10 bx& Kaiains, @ $5. . . .$ 5a 
 
 5 doz. 2i/i Cove Oysters, 6. ... 30. 
 
 20 dos. 3 ;<r Csnned Pesohes, 6. ... 120. 
 50 bbls. Flour. 9. ... 450. 
 
 4. 
 
 <i$17. 
 21. 
 
 .11. 
 .14. 
 
 L. MOSHKR, 
 
 10 bbls. Prime Pork. 
 
 10 ** Mean H««f. 
 
 5 lihda. N. O. Sugar. 600 ff, 
 
 10 aks. Rio Coffee. 1000 fi, 
 
 50 bbla. Apples, 
 
 5. 
 
 Ira Mors 
 
 Cash 
 
 Bills Rsckivablk. 
 
 20 bhls, Gilroy Flour, 
 
 100 bbls. Family Flour 
 
 20 doz. 1 f/i Cove Oysters, 
 
 10 bhls. Apples. 
 
 Rec'd note, at 60 da.. $500 ; Cash, $200 ; 
 
 Cash, Jom.n Uttbr. 
 
 25 bbls White Fiah, @ $10. . 
 
 20 •' S. I. Sugar, 4000 ;^, .12. 
 
 6. 
 
 Agnes Parsons. 
 
 1500 f/i Prunes, @ 16# 
 
 /* 
 JoHX Utter, 
 
 10 bbls. Mess Beef. 
 
 10 ♦• Prime Pork. 
 
 OakUnd. 
 $170. 
 . 210. 
 
 140. 
 200. 
 
 @$8. .. 
 9. .. 
 2.75.. 
 4. .. 
 
 1160. 
 
 900. 
 
 55. 
 
 40. 
 
 bal. on ojc- 
 
 .$250. 
 . 480. 
 
 Sacramento. 
 @$21. ...$210. 
 15. ... UiO. 
 
 Wtnh Rbbvbs, 
 
 20 bbls. Flour, @ $8.50. 
 // 
 Cash, Wm. Kixloch. 
 
 20 Cases Kerosene. 
 
 40 doz. Parlor Lamps, 
 
 Suisun City. 
 
 $2.50. 
 15. . 
 
 140 
 
 $ 50. 
 
 , 60. 
 
 33750 
 
 660 
 
 dSSQ 
 
 455 
 
 500 
 
 225 
 
 360 
 
 170 
 
 407750 
 
 Total*. 
 
 33750 
 
 335 
 
 650 
 
 1380 
 
 200 
 
 730 
 
 110 
 
 1156 
 
 730 
 225 
 360 
 
 ro 
 
 110 
 
 1375 
 
 545250 
 
Set 4.] 
 
 LEDGEE. 
 STUDENT. 
 
 1884 
 Mar 
 
 F. M. Righter... 
 Balance i 
 
 139 
 143 
 
 200 
 
 1048D50 
 50 
 
 10689 
 
 18841 
 Mar 
 
 Sundries 
 
 Loss and Gain l 
 
 139,10500 
 143 18950 
 
 1068950 
 
 BILLS RECEIVABLE. 
 
 1884 
 Mar 
 
 Student 
 
 Mdse 
 
 Bills Payable. 
 Mdse 
 
 S. B 
 
 139 
 140 
 139 
 140 
 
 500 
 650 
 600 
 500 
 
 2250 
 
 1884] 
 IMar 
 
 Cash . . . . 
 Sundries . 
 Balance, 
 
 B144 
 .. 139 
 ,Ll43 
 
 600 
 
 500 
 
 1150 
 
 2250 
 
 J^. M. RIGHTER. 
 
 1884J 
 Mar 
 
 Agnes Parsons . . . 
 Balance l 
 
 139 
 143 
 
 150 
 
 60 
 
 200 
 
 1884 
 Mar 
 
 Student . 
 
 139 
 
 200 
 
 200 
 
 MERCHANDISE. 
 
 18841 
 Mar 
 
 Jayne & Son. . . 
 Bills Payable. . 
 City Bank . . . . 
 
 Sundries 
 
 9 Loss and Oain. 
 
 
 
 
 1884 
 
 139 
 
 3425 
 
 
 Mar 9 
 
 lt9 
 
 2475 
 
 
 ' (( 
 
 9 
 
 139 
 
 540 
 
 
 ** 
 
 9 
 
 139 
 
 1750 
 
 
 
 
 143 
 
 S40 
 
 50 
 
 
 
 8430 
 
 50 
 
 Cash . . . . 
 Sundries, 
 Balance. . 
 
 144 
 140 
 143 
 
 1453 
 
 407750 
 
 2900 
 
 843050 
 
 H. F. CLARK. 
 
 1884 
 Mar 
 
 9 Balance. l143 
 
 360 
 
 1884 
 [Mar 
 
 Sundries . 
 
 139 
 
 {60| 
 
 IRA MORE. 
 
 1884 
 Mar 
 
 5 Mdse s. Bl40 
 
 455 
 
 1884 
 Mari 
 
 Balance l143 
 
 l [i43 
 
 141 
 
 455 
 
Sr 4.] 
 
 LEDGER. 
 BILLS PAYABLE. 
 
 1884 
 Mar 
 
 Cub c.Bl4£ 
 
 S Baianee, 
 
 Li4a 
 
 1200 
 S073 
 
 4275 
 
 1884 
 Mar 
 
 3 MdM 
 
 4 Bills Recetvable. .. 
 
 5 Jayne k Son 
 
 139 
 139 
 139 
 
 2475 
 
 GOO 
 
 1200 
 
 4276 
 
 EXPENSE. 
 
 200 
 96 
 
 236 
 
 1884; 
 Mar 9 
 9 
 
 Balcutcf L 
 
 Lo»$ and Oain 
 
 143 
 
 Ll43 
 
 190 
 46 
 
 236 
 
 DISCOUNT AND INTEREST, 
 
 1884 
 Mar 
 
 4. Cash ... 
 
 5, SnndriM . 
 
 Bil45 
 139 
 
 20 
 
 1884 
 Mar 
 
 Caah c. 
 
 LoM and Oain ... 
 
 144 
 l|143 
 
 '^ 
 
 S. THOMPSON. 
 
 J. L. MOSHER, 
 
 1884 
 Mar 
 
 4 Mdse 
 
 140 
 
 1380 
 
 
 1884 
 
 Mar 
 
 « 
 
 
 1380 
 
 
 Cash c. B 
 
 Balance l 
 
 144 
 143 
 
 400 
 
 980 
 
 1380 
 
 AGNES PARSONS. 
 
 1884 
 Mar 
 
 6 Mdae .s. b 
 
 
 i 
 
 1884' 1 
 
 140 
 
 225 
 
 Mar 
 
 6 
 
 
 
 
 (t 
 
 9 
 
 F. M. Righter 
 
 Balance , 
 
 139 
 
 L143 
 
 — ^ 
 225! 
 
 142 
 
Set. 4.] 
 
 LEDaER. 
 JAYIfE & SOK 
 
 1884 
 Mar 
 
 Bills Payable 
 Balance 
 
 139 
 143 
 
 1200 
 
 3425 
 
 !l884 
 Mar 
 
 2 Mdse. 
 
 139 
 
 3425 
 
 3425 
 
 JOSy UTTER. 
 
 1884 
 Mar 
 
 6| Mdse 
 
 s. B^140 
 
 360 
 
 11884 
 Mai\ ^ Ba 
 
 lance L:143 S6C 
 
 WYNN REEVES. 
 
 1884 
 Mar 
 
 8 Mdse. 
 
 b|i4^ 
 
 11884 
 1701 IMar 
 
 9\ Balance . 
 
 l[i43[| J7(\ 
 
 LOSS AND GAIN. 
 
 1884J 
 Mar ^ 
 
 Expense 
 
 Disct. and Int . 
 Student 
 
 142 
 142 
 141 
 
 46 
 
 6 
 
 18950 
 
 240501 
 
 1884' 
 Mar 9 
 
 Mdse. 
 
 141 
 
 24050 
 
 24050 
 
 BALANCE. 
 
 1884 
 Mar 
 
 Bills Receivable 
 
 Mdse. luvt L 
 
 Expense, Invt 
 S. Thompson. 
 
 J. L. Mosher l 
 
 Agnes Parsons 
 
 John Utter L 
 
 Ira More l 
 
 Wynn Reeves l 
 
 Cash c. B 
 
 City Bank. ...CK 
 
 L141 
 
 141, 
 142 
 
 142| 
 142' 
 
 Ll4! 
 
 143 
 
 141 
 143 
 145 
 138 
 
 1150 
 2900 
 190 
 137 
 980 
 75 
 360 
 455 
 170 
 422 
 
 50 
 
 1619950 
 
 1884 
 Mar 
 
 9 F. M. Righter....L|141 
 
 9 Jayne k Son l 143, 
 
 91 Bills Payable l142; 
 
 H. F. Clark l 141 
 
 91 Student il41 
 
 50 
 
 2225 
 
 3075 
 
 360 
 
 1048950 
 
 1619950 
 
 14S 
 
BILL 
 BILLS 
 
 [Set 
 
 Mo. 
 
 When 
 
 DaAMTUl 
 
 OB 
 
 EMDOBaU. 
 
 Dkawu 
 
 oa 
 Makkb. 
 
 Ix Whocb Fatob. 
 
 Date of 
 Note. 
 
 Tlmefo 
 Bun. 
 
 1 
 2 
 3 
 
 4 
 
 1884 
 Mar 
 
 << 
 
 1 
 3 
 4 
 
 j Student 
 
 Student 
 
 1 Student 
 
 1 Student 
 
 G. Oberholtrer. 
 Ira More. 
 Geo. Martin. 
 Ira More. 
 
 Student 
 Student. 
 Student. 
 Student 
 
 1884 
 Feb. 
 Mar 
 
 1" 
 
 1 60 da. 
 
 3 90 da. 
 
 4 30 da. 
 6 60 da. 
 
 BILLS 
 
 [Set 
 
 No. 
 
 Wb«n 
 Im«d. 
 
 Dbawbb 
 
 OB 
 
 Emdobsbb. 
 
 Dbawbs 
 
 OB 
 
 Kakbb. 
 
 In Wbobb Fatob. 
 
 IMaof 
 Not«. 
 
 Time to 
 Rod. 
 
 1 
 2 
 3 
 
 1884 
 Mar 
 
 i< 
 •« 
 
 3 
 4 
 
 5 
 
 Wm. Smith. 
 Geo. Martin. 
 Jayne k Son. 
 
 Student 
 Student. 
 Student 
 
 Wm. Smith. 
 Geo. Martin. 
 G. P. Anderaon. 
 
 1884 
 
 Mar 
 
 •( 
 
 3 
 5 
 
 30 da. 
 30 da. 
 30 da. 
 
 CASH 
 
 Dr. 
 
 
 
 
 
 
 
 
 
 [Snr 
 
 Datb. 
 
 L.P. 
 
 CASH TO SUND8. 
 
 SUNDS. 
 
 Mmb. 
 
 Bills 
 Bco. 
 
 0»CT. 
 
 1884 
 Mar 
 
 2 
 3 
 4 
 4 
 6 
 8 
 9 
 9 
 
 13S 
 
 142 
 141 
 142 
 142 
 140 
 141 
 
 Student Amt. Invested 
 
 10000 
 
 200 
 590 
 400 
 
 1453 
 
 
 38 
 40 
 
 1375 
 1453 
 
 
 600 
 
 
 15 
 
 
 
 Mdae., Dmwer Sales 
 
 
 
 Mdae., Drawer Sales 
 
 
 
 
 
 
 Billa Bjtc , Diactd. G. Martin'a note. 
 
 J. L. Moeher, Sight draft 
 
 Diact and Int , Draft favor G. P. A. 
 Mdae., Salea, per S. B 
 
 
 
 Mdse 
 
 
 
 Balance 
 
 
 
 12643 
 
 
 
 Mat 
 
 10 
 
 ^ 
 
 422 
 
 
 
 
 
 
 
 
 
 
 
 144 
 
4.3 
 
 BOOK 
 RECEIVABLE. 
 
 
 WHEN DUE. 
 
 
 "I 
 
 When aud How 
 
 Where Payable. 
 
 Tr. 
 
 a 
 
 1 
 
 
 t 
 
 1 
 3 
 
 ^ 
 
 S 
 
 i 
 
 
 1 
 
 1 
 
 1 
 
 o 
 
 is, 
 
 1 
 
 Amt. 
 
 Diiiposed of. 
 
 Oakland. 
 Oakland. 
 Oakland. 
 Oakland. 
 
 1884 
 1884 
 1884 
 1884 
 
 
 
 
 4 
 
 
 1 
 
 
 
 
 
 
 500 
 650 
 600 
 500 
 
 
 Diactd., Mar. 4, '84. 
 Di8ctd.,Mar. 6, '84. 
 
 4.] 
 
 PAYABLE. 
 
 
 WHEN DUE. 
 
 
 1 
 
 When and Bow 
 
 Where Payable. 
 
 Yr. 
 
 I 
 
 1 
 
 ^ 
 
 S 
 
 1 
 
 < 
 
 ST 
 
 « 
 
 a 
 a 
 
 
 -< 
 
 i 
 
 i 
 
 1 
 
 1 
 
 Ami. 
 
 DiBpoMdof. 
 
 Oakland. 
 Oakland. 
 Oakland. 
 
 1884 
 1884 
 1884 
 
 
 
 
 2 
 3 
 4 
 
 . 
 
 
 
 
 
 
 
 
 2475 
 
 600 
 
 1200 
 
 
 Paid, Mar. 9, '84. 
 
 BOOK. 
 
 4.] 
 
 
 
 
 
 
 
 
 
 
 Cr. 
 
 
 Datk. 
 
 L.P. 
 
 8UND8. TO CASH. 
 
 SUKM. 
 
 Ex- 
 
 PXN8E. 
 
 Bills 
 Pay. 
 
 DWCT. 
 
 1884 
 Mar 
 
 1 
 3 
 4 
 4 
 
 5 
 6 
 8 
 8 
 9 
 9 
 
 138 
 142 
 138 
 142 
 
 :s 
 
 138 
 142 
 142 
 143 
 
 City Bank, Deposited ck. b 
 
 Expense, 2 tons Coal 
 
 9500 
 
 500 
 
 600 
 
 400 
 
 1185 
 
 36 
 
 4^2 
 
 
 24 
 
 12 
 ~36 
 
 
 1200 
 
 
 10 
 
 
 •• 
 
 City Bank, Deposited ck. b 
 
 Disct. and Int., G. Martin's note. . . 
 
 City Bank, Deposited ck. b 
 
 Expense, Repairing Wagon 
 
 City Bank, Depostd. sight dft. ck. b 
 Bills Pay. , Disctd. draft of 5th inst. 
 Kxpense 
 
 
 .. 
 
 Balance 
 
 
 
 
 12643 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 145 
 
MODEL SET IV. 
 
EXERCISES FOR THE STUDENT, 
 
 Set 11. Portland, Aug. 1, 1884. Student commenced busi- 
 ness with cash, $4000, and a note against L. Washburn, for 
 $350, on interest at one per cent, per month, dated July 6, 
 1884, at 90 ds. 
 
 2. Deposited $3500 in Bank of Oregon. Paid cash for a set 
 of acc't books, $16. 
 
 Bo't of Reed & Co., by check on Bank of Oregon, an invoice 
 of Mdse., amounting to $2800. 
 
 Sold J. W. StirUng, on fl|6, 5 bbls. white fish, @ $8; 10 bbls. 
 mess pork, @ $18. 
 
 Cash sales, $75. 
 
 3. Bo't of W. H. Sumner, on our note at 60 ds., an invoice 
 of Mdse., amounting to $300. 
 
 Loaned H. C. Petray, $100. 
 Deposited $350 in Bank of Oregon. 
 
 4. Sold A. F. Wakeman 250;^ coffee, @ 18^; 10 boxes 
 Malaga raisins, @ $2.75; 25 bbls. flour, @ $7; rec'd in pay- 
 ment, note at 90 ds., for $200 j — balance on acc't. 
 
 Sold M. A. Rouse, 60 boxes No. 1 herring, @ 25^; 800;^ 
 bacon, @ 18^; 30 bbls. flour, @ $7; rec'd in payment, our note 
 of 3d inst., favor W. H. Sumner, for $288 (face of note, $300), 
 and an order on K. F. Watkins, for balance. 
 
 Paid cash for drayage, $3.75. 
 
 Sold E. M. Purinton 10 ;ff tea, @ 70^ j 500 ;K flour, @ $3.50 
 per C; 200;^ potatoes, @ IJ^; 10;^ syrup, @ 80^; rec'd in 
 payment, 16;^ eggs, @ 40^; — cash for balance. 
 
 Cash sales, $76. 
 
 5. Sold J. J. Zielian, on <^, 20 doz. 2 j^ canned pears, @ $3j 
 25 doz. 3 Ji^ canned tomatoes, @ $2.75. 
 
 Returned to W. H. Sumner, 5 bbls. white fish, @ $9, and 
 rec'd cash for same. 
 
 Sold A. K. BaUou, on <^, 500;^ beans, @ 4^j 50 Iff rice, @ 
 6i^; 100;^ salt, @ 2f 
 
 A. F. Wakeman returned 3 bbls. flour, @ $7. 
 
 Cash sales, $86.50. 
 
 6. Deposited in Bank of Oregon, cash, $100. 
 
 Bo't of V. Domberger, on ^, an invoice of Mdse. amount- 
 ing to $275. 
 
 147 
 
EXERCISES FOR THE STUDENT. 
 
 Sold E. M. Purinton, on <]^, 20 cases French mustard, @ $2; 
 20 doz. pint pickles, @ $2.25. 
 
 Eec'd from L. Washburn a draft on Bank of Oregon for 
 $103.50,— $3.50 for interest, and $100 in part payment of her 
 note of 1st inst 
 
 Deposited this draft in the bank. 
 
 Cash sales, $65. 
 
 8. Sold J. W. Stirling, on <^, 40 boxes soap, @ $1.50j 25 
 kegs pickled onions, @ $4. 
 
 Rec'd from A. F. Wakeman, a draft on Commercial Bank, 
 to balance her account. 
 Paid for insurance, by check on Bank of Oregon, $16. 
 Accepted V. Domberger's draft on us, at 30 ds., for $175. 
 Cash sales, $89. 
 
 9. Discounted note received on 4th inst., from A. V. Wake- 
 man, and rec'd cash, $190. 
 
 Sold J. J. Zielian, on % 2 casks Zante currants, 540 #, @ 
 10^ J 5 boxes Fresno raisins, @ $2.75. 
 
 Gave our clerk, in payment of salary due, an order on £. 
 M. Purinton for $20. 
 
 Deposited $250 in Bank of Oregon. 
 
 Cash sales, $46. 
 
 10. Sold Henry Lawless, on ^jfc, 40 bbls. flour, @ $7. 
 
 Rec'd from A. K. Ballon a postal note for $20, to apply to 
 aec't. 
 
 Bo't of E. M. AiJiiUh, by check on Bank of Oregon, 1,100 ^ 
 dried prunes, @ 10^. 
 
 Sold C. F. Donnelly, 10 kegs syrup, @ $3.75; 160 # vinegar, 
 @ 40<?; 40 hams, 500 ;^, @ 18?; rec'd in payment, note at 60 
 ds. for $100; — cash for balance. 
 
 11. Rec*d from J. W. Stirling, on <jfc, an order on Chas. 
 Smith for $75. 
 
 Paid, for stamps and expressage, $4.80. 
 
 Sold A. K. Ballow, on <5fr, 50 bottles tomato catsup, @ 25?; 
 40 bottles chow chow, @ 20?. 
 
 Bo't of C. F. Donnelly, 800 J^ dried peaches, @ 15?; gave in 
 part payment, her note of 10th inst., for $94 (face of note, 
 $100); — ^balance on aec't. 
 
 148 
 
EXERCISES FOR THE STUDENT. 
 
 Cash sales, $77. 
 
 12. Henry Lawless has failed, and we have rec'd a draft on. 
 Commercial Bank, for 40% ot amount due us. 
 
 Deposited this draft, and $75 in coin, in Bank of Oregon. 
 
 Sold E. M. Purinton, on <%, 40 stone jars, @ $1.20 j 120 ;ff 
 Java coffee, @ 20^; 10 cases kerosene, @ $3; 200 j!f^ cheese, 
 @ 16f 
 
 Sold V. Domberger, on ^Jfc, 1 set dishes, $18. 
 
 Donated cash, $10, for church purposes. 
 
 Bo't 3 tickets to a ball, benefit of firemen's fund, and paid 
 cash, $6. 
 
 13. Sold M. A. Rouse, on ^, 100 sacks, 25 }^ each, corn meal, 
 @ $1.20 per sack. 
 
 Sold C. F. DonneUy, on % SOO J^ wheat, @ $1.75 per C; 
 400 J^ potatoes, @ 2^. 
 
 Sold A. K. BaUou SQO J^ sugar, @ 12i^j rec'd cash, $75;— 
 balance on acc't. 
 
 Cash sales, $105. 
 
 14. E. M. Purinton reports some of the jars, bo't of us on 
 12th inst., to be of an inferior quahty, and we have allowed 
 her a discount of 15% on amt. of bill for jars. 
 
 Deposited, in Bank of Oregon, cash, $100. 
 Rec'd from A. K. Ballou a P. 0. order to balance her acc't. 
 Student has taken groceries for private use, amounting to 
 $67.50. 
 
 15. Took an inventory and found Mdse. on hand amounting 
 to $1400. 
 
KEY 
 
 TO 
 
 EXEECISES FOR THE STUDENT. 
 
KEY TO EXEECISE8 FOB THE STUDENT. 
 Pabt L 
 
 [No«.->A " Key" to the exercises has been added, in order to afford the student reliable check* 
 OQ the outcome of his work. These " Closing Statements," also, will relieve the teacher from the 
 task of verifying the purely arithmetical part of the work, permitting his time to be given, 
 wholly, to the book-keeping proper of his class. In these statements the amounts drawn out by 
 the proprietors during the time of business are to be counted in reducing net capital at com* 
 ■lenoement.) 
 
 CLOSING STATEMENT, Set 1. 
 
 Resources. 
 Personal Acc'ts. (Ledger), 
 
 Cash 
 
 Mdse. (Inventory) 
 
 145061 
 954 
 2360 
 
 345916 
 
 Liabilities. 
 Personal Acc'ts. (Ledger).. . . 
 lOl W. Megarry's Present Net Cap. 
 
 8560 
 
 SS73 
 
 3459 
 
 56 
 
 16 
 
 Wm. Megarry's Present Net Capital, S3S73.56 
 
 •• " Net Investment, 3106.50 
 
 Net Gain, <267.06 
 
 CLOSING STATEMENT, Set 2. 
 
 Resources. 
 Personal Acc'ts. (Ledger), 
 
 Bills Receivable 
 
 Cash 
 
 Mdse. (Inventory) 
 
 Tools, etc. (Inventory) . . . 
 
 177095 
 
 294426 
 
 Liabilities. 
 Personal Acc'ts. (Ledger).. 
 
 226 30| Student's Present Net Capital 
 
 257 
 
 390 
 
 300 
 
 125 
 
 2819 SS 
 
 2944 
 
 25 
 
 Student's Present Net Capital, $2819.25 
 " Net Investment, 2150. 
 
 " Net Gain, % 669.25 
 
 CLOSING STATEMENT, Set 3. 
 
 Resources. 
 Personal Acc'ts. (Ledger) . . . 
 
 Cash 
 
 Mdse. (Inventory) 
 
 2255 
 56207 
 250 
 
 83462 
 
 Liabilities. 
 Personal Acc'ts. (Ledger). . . . 
 Wm. Bacon's Present Net Cap, 
 
 565 
 
 82897 
 
 83462 
 
 Wm. Bacon's Present Net Capital, $828,97 
 " " Net Investment, 800. 
 
 Net Gain, >28.gT 
 
 IfiS 
 
KEY TO EXEBCI8ES FOR THE STUDENT. 
 
 CLOSING STATEMENT, Set 4. 
 
 Kbsoubcb. 
 
 Aoo*ti. (Ledser) . 
 Bilk R«eeivable . . 
 
 Cub 
 
 Mdte. (Inrentory) 
 
 1611 
 4900 
 
 759976 
 
 15 
 
 31610 
 
 71250 M.H, 
 
 LlABILITIBS. 
 
 PenonAl Aco'U. (Ledger) 
 
 *# Frt; Net Cap. 
 
 44746 
 
 716ft9 
 
 759976 
 
 Mwtiii R. Lawwn'a rr««*Bt N>t Cftpftal. ttllAM 
 
 * - - s«t OidB, f a6a.» 
 
 CLOSING STATEMENT, Set 5. 
 
 Penooel Aoc*ta. (Ledger). 
 
 CMh , 
 
 BMik 
 
 MdM. (iBTCBtory) 
 
 8467 
 36166 
 764 
 900 
 
 2130)55 
 
 LiABiunn. 
 Perwud Aoc'U. (Ledger) . 
 O. W. Congdon't Prt». Net Cap. 
 
 15960 
 
 1971 
 
 Ot 
 
 213052 
 
 G. W. OM^doD'a Net InTertnMDt, t90M.9O 
 
 •• PrMcnt Net C«pital. 1971.02 
 
 Net LoM. I 06^ 
 
 CLOSING STATEMENT, Set G. 
 
 RXSOUBOBS. 
 
 PeiMiMl Aec'te. (Ledger). 
 
 i^eah 
 
 Bille Receivable 
 
 Mdee. (Inventory) 
 
 Real EeUte, Store 
 
 925150 
 2109|l3 
 
 866 
 5400 
 4000 
 
 1329963 
 
 Liabilities. 
 Persoual Acc'ta. (Ledger) . 
 CMpmand:Sear9' Prt». Net Cap. 
 
 426750 
 
 9032 IS 
 
 1329963 
 
 ■ }4 M«t Gain, 
 N«t iBTcatment, 
 
 (liipoMii A Se&n' Preaent Net CapiUl, t9032.13 
 Net Inrertment, 8621. 
 
 •• " Net Gain, I 411.ia 
 
 t i06.57 Wn. H. Smr* 14 Net Gain, t ^206^ 
 
 4296,26 •• " •• Net InTertment, 4326.76 
 
 PreMnt Net CapiUl, $«a00J2 
 
 PrMtDt Net Capital, >4631.31 
 
 l.M 
 
KEY TO EXERCISES FOR THE STUDENT, 
 Part II. 
 
 CLOSING STATEMENT, Set 1. 
 
 RESOURrKS. 
 
 Cash on hand 
 
 Bills Receivable 
 
 Mdse., as per Inventory 
 
 LlABILITIKS. 
 
 Personal Accounts 
 
 Student's Capital at Commencement. 
 Student's Net Gain 
 
 1028331 
 110 
 675 
 
 150551 
 1550 
 
 1S78\ 
 
 171333 
 
 171 
 
 m 
 
 CLOSING STATEMENT, Set 2. 
 
 Resources. 
 
 Cash on hand 
 
 Bills Receivable 
 
 Personal Accounts 
 
 Mdse., as per Inventory 
 
 Liabilities. 
 
 Bills Payable *. . . 
 
 Student's Capital at Commencement. 
 Student's Net Gain 
 
 2876|46 
 
 lIlS 
 ff62rig0i 
 
 I 
 
 7312^ 
 8705 
 19187a 
 
 1135495 
 
 1135495 
 
 CLOSING STATEMENT, Set 3. 
 
 Resources. 
 
 Cash on hand 
 
 Bills Receivable 
 
 Personal Accounts 
 
 Mdse. , as per Inventory 
 
 Liabilities. 
 
 Bills Payable 
 
 A. Cochrane's Capital at Commencement. 
 A. Cochrane's Net Gain 
 
 84415 
 250 
 285 
 1750 
 
 1476 
 1550 
 
 10466 
 
 312955 
 
 312955 
 
 155 
 
KEY TO EXERCISES FOR THE STUDENT. 
 CLOSING STATEMENT, Set 4. 
 
 Rboubcis. 
 
 Caah on hand 
 
 MdM., u per Inventory 
 
 CoaU •• •• 
 
 LiAmi.rriwi. 
 
 Personal Acoonnta 
 
 Billa Payable 
 
 Stadent's Capital at Commenoement. 
 Stmdenft Net Gain 
 
 2427 
 
 4106 
 
 26 
 
 6179(^ 
 610 
 5150 
 
 CLOSING STATEMENT, Set 5. 
 
 RnoumcBB. 
 
 Caah on hand 
 
 Bills Receivable. 
 
 Mdse., as per Inventory 
 
 Liabilities. 
 
 Personal Aooounta 
 
 Billa Payable 
 
 Tyrrell & Co.'s Capital at Commencement 
 TrrrtU A Co:$ Ktt Gain 
 
 4240701 
 200 
 
 582521 
 1346 
 7845 
 
 551^ 
 
 CLOSING STATEMENT, Set 6. 
 
 RESOCRCE.S. 
 
 Cash on hand 
 
 Bills Receivable 
 
 Mdae., as per Inventory 
 
 Coal, " " 
 
 LlABIUTIKS. 
 
 Penonal Accoonts 
 
 Bills Payable 
 
 Williams k, Gibson's Capital at Commencement. 
 
 A. S. WiUiams'8 Net Gain 
 
 /. E. Gibson's Net Gain 
 
 156 
 
 267863 
 74628 
 1860 
 18 
 
 63251 
 200 
 4900 
 69 
 
 86 
 
 7981 
 
 5302 91 
 
KEY TO EXEECISES FOR THE STUDENT 
 CLOSING STATEMENT, Set 7. 
 
 Resources. 
 
 Cash on hand 
 
 Bills Receirable , 
 
 Mdse., as per Inventory , 
 
 Stationery, as per Inventory 
 
 Liabilities. 
 
 Personal Accounts 
 
 Bills Payable 
 
 6. A. Mills's Capital at Commencement. 
 G. A. MiOs'a Net Gain 
 
 239750 
 
 1225 
 
 1735 
 
 12501 
 
 472501 
 2750 
 2017 
 
 1S0\ 
 
 50 
 
 5370 
 
 5370 
 
 CLOSING STATEMENT, Set 8. 
 
 Resources. 
 
 Cash on hand 
 
 Personal Accounts 
 
 Bills Receivable 
 
 Mdse. , as per Inventory 
 
 Store (Real Estate) 
 
 Horse and Wagon 
 
 Liabilities. 
 
 Bills Payable 
 
 Frank & Co's Cash Capital at Commencement 
 
 Moses Frank's i Net Gain 
 
 Ed. DinkelsjpieVs \ Net Gain 
 
 kis: 
 
 16( 
 
 90 
 
 3310 
 
 2000 
 
 220 
 
 900 
 19167 
 
 5557 
 5S58 
 
 10174 
 
 10174 
 
 15 
 
 15 
 
 CLOSING STATEMENT, Set 9. 
 
 Resource!. 
 
 Cash on hand 
 
 Mdse. , as per Inventory 
 
 Horse and Wagon , 
 
 Liabilities. 
 
 Personal Accounts 
 
 Bills Payable 
 
 Student's Capital at Commencement. 
 
 Less Student's Net Loss 
 
 1£7 
 
 1841501 
 4460 
 176 
 
 1425061 
 800 
 5200 
 
 742505 
 
 94855 
 
 647650 
 
 647e 
 
KEY TO EXEECISE8 FOR THE STUDENT. 
 CLOSING STATEMENT, Set 10. 
 
 Rbodbcis. 
 
 Cash oo hand 
 
 • " in Unk.. 
 
 BUk Receivable 
 
 Mdae., as per Inventory 
 
 Hone and Wagon, as per Inventory . . . 
 
 LlABUJTIKS. 
 
 Personal Acoounta 
 
 Bills Payable 
 
 Stadedt's Capital at Commwictinant.... 
 Fred. Child's Capital at Commencement. 
 
 Stmdenfi i Net Gain 
 
 Fred. OkUtTi ^ Ntt 0am 
 
 275820 
 340090 
 
 226 
 4130 
 
 190 
 
 II 
 
 m' 839|35i 
 
 ,1240 
 
 413146 
 
 4183 96 
 
 15468 
 
 15462 
 
 10704 
 
 10 
 
 10704 
 
 10 
 
 CLOSING STATEMENT, Set 1L 
 
 Rbsourcis. 
 
 Cash on hand 
 
 " in bank 
 
 Bills Beoeivable 
 
 Personal Accounts 
 
 Mdae. , as per Inventory 
 
 LlABIUTUa. 
 
 Bills Payable 
 
 Student's Capital at Commencement. 
 StMden^t Net 0am 
 
 63180 
 166450 
 
 250 
 
 983301 
 1400 
 
 175 
 
 1428250 
 
 47£10 
 
 4029 BO 
 
 4929 BO 
 
UNIVERSITY OF CALIFOUNIA LIHRARY 
 BEHKELEY 
 
 THIS BOOK IS DUT^ THE LAST DATE 
 STAMPED BELOW 
 
 ^^ „„< r,...rn..l o„ ,,hno .re .».W-V«i„« «-i„»i 
 SOc i»fr Tol '..sixth d»>. Book* not m 
 
 to IIOO v annlictttion i» made before 
 
 demand in;> 
 «xpir>tion of I'"" "ri-a 
 
 .^301^-^'' 
 
 RrCT 
 
 r'M 
 
 50Tn-7,'16 
 
YB I236G