•'* r^ Digitized by the Internet Archive in 2007 with funding from ^^ lyiicrosoft Corporation http://www.archive.org/details/childsbookeepOOchilrich ESSENTIALS Olr BOOK-KEEPING, FOR PUBLIC SCHOOLS. SINGLE AND DOUBLE ENTRY, mcLvmvQ Forms asj> Explanations op Business Papebs ^ C. W. CHILDS, iMcber in California State Normal SchooL tea Jow, GaL SAN FRANCISCO: THE BANCROFT COMPANY. 1893. EDUCATION DEPI. F>RE;FAC)3. It is customary 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 opportimity 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. fj9^ CONTENTS, Suggestions to Teachers * PART I.— SINGLE ENTRY. Characters and Abbreviations used in Book-keeping 6 Book-keeping 7 Definitions of Single Entry Books 8 Diagram showing the Kelation 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 Set 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 52 Model Set III 67 Special Remarks in the Ledger 74 PART II.— DOUBLE ENTRY. Double Entry 77 Double Entry Books 78 Principles and Rules 80 Rules for Journalizing 83 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 117 Ebcercises for the Student 120 Model Set IV 135 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 156 M118282 SUGGESTIONS TO TEACHERS. 1. Book-keeping is very simple and easy of comprehension, and my aim has been to present every point clearly and dis- tinctly, while giving 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 fitudent^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 J 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 school-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. In 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 "set." 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. SINGLE EJSTTET. CHAEACTEES AND ABBREVIATIONS USED Df BOOK-KEEPma. CBIAKACTEBS. @ At or to. o{c Account. % Percent. ^ Number. 1* One and one-fourth. 1' One and one-half. 1' One and three-fourths. l/ Check Mark. $ Dollars. ^ Cents. £ Pound Sterling. X By, as 8x 11. ]^ Pounds, Gallons, Yards, Dozens, and Feet. [Note. — This character whenever liable to be misunderstood, is replaced in thLi text-book by the usual conventional sign.] ABBREVIATIONS. A 1 First Class. Acc\ or <%. ...Account. Amt Amount. Agt r , . . .Agent. Aug August. Bed Balance. B.B Bill Book. Bo't Bought. BroH Brought. B.P Bills Payable. B.R Bills Receivable. Bhl Barrel. C. or Ce«. BILL. BOOK, 14 9^ <^: r^^' stf 0^' / BALANCE SHEET. Put all Resoorces on the Dr. aide, all Liabilities on the Cr. aide. ^^ CASH BOOK. 2^ EXPLANATION OF TERMS USED. Whenever one person receives anything 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 amount. 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, bft i> ^redH'?d f^^^ ^h^ am-a imL The buyer on ^ is always the Debtor, and the seller on <^ 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 on the Dr. side of an account, and indicates indebt edness to us from the person named in the account. The word By is used on the Cr. side of an account and indicates indebtedness hi/ 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 Eeceivable. AH 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 unsold 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 bool^ and that is the Cash Book. Receiving credit is of no conse* qnence in book-keepmf if"none be given. As this book is the Jcey 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 cr edited j because Cash supplies the money that makes the payment. The left-hand column is for cash received, or "Cash Dr.j" 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 right- 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 illustrate 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'« arithmetic. Jan. 25. Received $2 for cleaning yard 11 CASH BOOK ACCOUNTS. Paid $1.50 for Life of Columbus. Jan. 27. 26. for six pigeons. Jan. 28 30. Balance on hand, $ Received 75^ Paid 60 i J REMARKS. San 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 Bay Book, or Memorandum Book, with his Resources, and debit him with his LiabilitiesVv If it is a partnership business, credit and debit each partner^n a similar manner. Take an inventory of aU 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 Closing 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 balance 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 stin 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 Statement wiU now show all the Resources, and the other side aU of the Liabilities of the business. By closing 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. 24 SUGGESTIONS AND EEYIEWS. 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 transf en-ed to the Ledger ? What is this process of trans- ferring called ? Draw a I>ay Book form on the board, and write, at the upper left-hand corner 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 corner 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? 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 ovvti name), on acc'f, 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), on ac&t, 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? ('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 j and money columns.) Prepare an example of selling 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 Cth.) 25 MODEL SET 11. [This Set illustrates the use of the Sales Book and Invoice Book as prin- cipal books. (See p. 7; No. 10.) Accounts, in the Sales Book and Invoice Book, which, ordinarily, ought to be entered on the Day Book, to be thence transferreid to the Ledger, are, in this Set, directly posted from these, other- wise, auxiliary books; thereby obviating the necessity of entering these accounts in the Day Book. Merchants, however, in order to post from the Day Book onltj, generally prefer to enter on this book all accounts that would have to appear there in case a Sales Book and an Invoice Book were not kept. Students, therefore, should be required to write the Day Book of this Set, additionally, in that full form which shows all accounts that must be trans- fen-ed to the 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.) Cash, $800 J jQt note, dated Jan. 25, 1883, at 30 ds., for $150, against Geo. S. Wells; F. M. Righter owes this firm $120, on o/c. Liahilities. 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 ^, 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 ^. 7. Bo't of Pacific Mf g Co., on ^, 24 wash-stands, @ $4; 12 rosewood center tables, @ $18. 9. Sold Geo. S. Wells, on <%, 1 mahogany sofa, $30. 10. Rec'd cash, on <^, of F. M. Righter, $50. 11. Sold D. T. Bateman, on O^, 1 single bedstead, $6; 1 "Sleepy Hollow" chair, $10. 12. Sold Cornelia Walker, on note at 30 ds., 1 easy rocker, $16; 1 library book- case7$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 Mf'g 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. NoTB. — The Notes mentioned in this Set are in tlie Bill Book on pages 22 and 23. 2G DAY BOOK. (AccoutUs are posted directly from Sales Booh and Invoice Book.) Sr 2.] SAN JOSE, February 1, 1883. Sage & Co., Investment, M. B. Liabilities. M. B. Dr. F. M. RiGHTEB, Amt. due the firm D. T. Bateman, Bal. due him. 10. F. M. RiGHTER, Cash, on o^ . 15. Pacific Mf'g Co., Draft 17. F. M. Righter, Cash, on ojc • Cr. Dr. Gr. Cr. Dr. Cr. 2670 175 120 75 50 145 25 3160 Srp2.] INVOICE BOOK. SAN JOSE, February 2, 1883. C.B. L. Pacific Mf'g Co., San Francisco. 10 Hair Mattresses, 20 Cane Bottom Chairs, @ $12 120 42 162 2.10 30 29 Cash. 7. Pacific Mf'o Co., San Francisco. 24 Wash-stands, 12 Rosewood Center Tables, On Off.. @ $ 4 90 216 - 312 474 18 :9 27 Set 2.] SALES BOOK. SAN JOSE, February 1, 1883. C.B. 30 29 29 29 29 29 B.B, 29 H. B. Norton, Wright's Station. 1 Extension Dining Table , 6 Gothic Chairs, @ $3.50 On a/c. D. E. BUSHNELL, 4 Library Chairs, 1 Office Desk Rec'd Cash, on ^c, $20. Geo. S. Wells, 1 Mahogany Sofa On <%. San Jose. @ $4.50. -6 Mt. View. 11. D. T. Bateman, 1 Single Bedstead 1 "Sleepy Hollow" Chair On «/c. 12. Cornelia Walker, 1 Easy Rocker 1 Library Book-case 3 Parlor Chairs, Note at 30 ds. Dixon. San Jose. @ 18. H. B. Norton, 1 Piano Stool. . . 8 Dining Chairs, On <%. Wright's Station. @ $L75 18 21 18 2250 16 40 18 39 4050 30 16 74 22 221 50 Set 2.] LEDGER. SAGE & CO. 1883 Feb. To Liabilities.. . Net Loss BaX. {Present Net Cap.) 1 |l883 27 175 23 9 05 Feb. 1 S371 2570 By Invt. 2570 2570 28 LEDGER. F. M. RIGHTER. 1883 Feb. 1 To Bal. due 27 11883 120| iFeb, 120 By Cash..., Balance . 12C D. T. BATEMAN. 18831 Feb, To Mdse... 2(A Balance SB :i883 28 16 59 75 — Feb. 1 By Bal. due 27 75 75 PACIFIC MF'G CO. 1S83 Feb. To Draft.. . Balance 27 145 167 312 1883 Feb. By Mdse. 312 312! H. B. NORTON, 1883 Feb. 18 To Mdse. 61 1883 Feb. 20 By Balance. 61 61 D. E. BV8HNELL. 18831 Feb To Mdse 28 [1883 4050|Feb. 6 ffl_t By Cash... Balance 29 20 2050 GEO. 8. WELLS. 1883 Feb 9 To Md«e. SB 28 30 30 - 1883 Feb. 20 By Balance SO 30 =* Bet 2.] CASH BOOK. Db, Cb. 1883 Feb Amt. on hand paid Pacific Mf 'g Co " for Coal rec'd for Petty Sales '• from D. E. Bushnell " F. M. Righter paid for Incidentals " " Eent of Store rec'd from F. M. Righter *' " Cornelia Walker, on Note Balance 800 936 162 1250 1025 75 676 S5 936 10 Set 2.] STATEMENT. Resources. Personal Accounts (Ledger). Bills Receivable (B. B.) €ash(C. B.) Mdse. (Inventory) 156 5i 676 1810 2697 Liabilities. Personal Accounts (Ledger) . . . . Bills Payable (B. B.) Sage & Co's Present Net Cap. . . 226 100 S371 2697 05 05 Sago & Co's Net Investment, - $2395 " " Present Net Capitel, 2371.05 " " Net Loss, - - 23.95 Set 2,] Dr. PEOOF-SHEET. Cb. 175 120 16 145 61 40 30 587 50 50 . Sage & Co .F. M. Righter • D. T. Bateman . Pacific Mf 'g Co .H. B. Norton .D. E. Bushnell .Geo. S. Wells .Bills Receivable (B. B.). Total Debits, S 587.50 " Credits, 3106 $3693.50 Total Day B., - - $3160 " Sales B., - - - 221.50 " Invoice B,, on acc't , 312 $3693.50 ^70 75 75 312 20 54 3106 30 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 biU 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 prices 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 Custom-House. Capital. The money or property used to carry on a business. Clearing-House. The place where bai«,:ic 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 .oans 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. Days of Grace. The time usually allowed beyond the expressed time for the payment of negotiable paper. This time varies in different countries. Days of Grace are not allowed on the Pacific Coast of the United States, except on sight drafts in Oregon. Dividend. Gain to be divided among stockholders Drawee. The person on whom the biU is drawn. Drawer. The party making the draft, or requesting that the payment be made. Duty. Customs. Endorse. To write one's name on the back of a note or biU. 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 to 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. liicense. A legal permit to do business. Liquidation. The act of paying or setthng indebtedness. COMMERCIAL TEEMS. 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. Miiximum 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. ^JIare<. 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. 83 BUSINESS PAPEE. 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 Bills of Exchange, Bank Notes, Promissory Notes, Certificates of Deposit, Checks, Bonds, Bills of Lading, Letters of Credit, and Due-Bills. Non-negotiable Pjiper is that which is made payable jO 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 printed 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 malcer and the payee. Tlie 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. rNl>IVIDUAJL. $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, value received. W. T. Wallace. 34 BUSINESS FORMS. a. INDrVTDUAX, WITH ENTEREST. $500yV^. 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. 3. JTOLNT ANI> SEVEBAIi. $300y%- 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. $1000^' per C. 3. Paid cash for scales and measures, $12. Sold Blanche Ki-ahl, on % 200 # sugar, @ 12J^^ 150 !JC salt, @ IJf 4. Sold W. S. Bailey„ on note at 30 days, 50 sacks Liverpool salt, @ $4.25. Rec'd cash for petty sales, $36.80. 5. Rec'd of Carl Allen a check on Bank of San Jose for $100, part payment of his note of 1st inst. 6. Discounted our note, favor of D. S. Snodgi-ass, paying him $190 for same. Frank A. Butts returned 1 fii'kin of butter, 80 ;^, bo't of us on the 2d inst. 8. Sold F. H. Ottmer, on <5^, 50 hlf". boxes raisins, @ $1.50 j 25 boxes Los Angeles lemons, @ $2.25. Rec'd cash, on ^, of Blanche Ki*ahl, $10. 9. Paid cash for church subscription, $10. Sold L. A. Lehnig, 275 # rice, @ 61^,- 40/!^ Eastern ham, @ 16^^; 500 }j( flour, @ $3.25 per C.j rec'd in exchange, 15 ;if^ eggs, @ 30^; balance on ^. 10. Paid cash for street sprinkling, $2.50. 11. Rec'd cash for petty sales, $40. Sold W. S. Bailey, on «^, 5 ;j( kerosene, @ 40^/ j 10 cans apricots, @ 25^ j 10/ coffee, @ 16^; 5;!^ tea, @ 60^. 12. Bo't of Lake & Co., on % 800;jff rice, @ 6^ J 100 # lard, @ 15^,- 80 yjf^ tobacco, @ 40^. Rec'd cash on ^ of Frank A. Butts, $75. Paid cash for drayage, $4.50. 13. Gave our clerk, George HothersaU, 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 Needham, on <%, 50 ;f^ stove wood, @ $6. 15. Bo't of Frank A. Butts, on (^, 25 tui-keys, @ $1.10. 16. Martin H. Lawson di-ew out $50 cash, for personal use. 17. Paid E. C. Rodwick cash, on <]fe, $60. 18. Sold Leon Taylor, 5C0 / Lima beans, @ 4^; 60 centals seed wheat, @ $1.60; 40 centals barley, @ $1.40 j 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 EXEECISES FOR THE STUDENT. Mdse. 20. Sold L. A. Lehiiig, on ^-^ 200 ^ salt pork, @ 18^j 400 ]^ di-ied prunes, @ 14^. 21. Sold Henry Doubtful, on % 75 centals barley, @ $1.45. 22. Sold Peter Slowboy, on % 1,100 y^ sugar, @ 13^; 180 1^ bacon, @ 20f 23. Sold Leon Taylor, on % 125 j^ dried peaches, @ 16^. 24. Sold Blanche Ivrahl, on ^, 1 cask pickles, 80 ff, @ 10^. 25. Bo't of L. A. Lehnig, on <}6, 25 ;j( wood, @ $6. Sold Frank A. Butts 40 l)Oxes cigars, @ $1.25; rec^d cash, $20, balance on <%. 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 w^e have lost the amount due us. 29. Took an inventory and found Mdse. on hand, $4960 j 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 cash, $1100; Mdse.j $1000; and an account against Kate Montgomery of $05. He owes Field & Co., on ^, $120. Put $800 in Bank of San Jose. 2. Bo't of N. Murray & Co., for cash, 1 bolt Merrimack prints, 120 ^, @ 10^ ; 60 prs. kid gaiters, @ $2.50. Sold Frank Graham, on (^, 1 pr. calf boots, $7.50; 10 boxes paper coUars, @ 20^. Sold Mary Har- riman, 16;^ 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 Cauoh, on ^, 8 ;^ English tweed, @ $1.75; 24;fr Lynn cottons, @ 12 J^. Paid Field & Co., on ^'r;, $50, by check on Bank of San Jose. Cash sales, $31.25. 4. Sold Mary Harriman, on ^, 20 ^ fancy linens, @ 25^; 1 silk s(;arf, $1.25. Put $80 in Bank of San Jose. Sold Frank Graham, i>n Oj^ J 40 ;jC canvas, @ 20^; 1 trunk, $5.50; 1 pr. gum boots, -4.50. Bo't of Field & Co., by check on Bank of San Jose, U) pieces fancy cassimeres, 220 jj^, @ 80^. Cash sales to-day, $40. 5. Sold Fred Cauch, on ^, 1 doz. handkerchiefs, $2.25. John Amos has worked for us 5 days repairing fence, @ $2.50 per day; we let him have 8 prs. socks, @ 50^/, balance on c^. 57 EXERCISES FOR THE STUDENT. Cash sales, $24.60. 6. Paid cash for newspapers, $4. The proprietor has taken 16 ff Lancaster gingham, cost 10^ per if ; 1 pr. gaiters, $3.50. Sold Lena Dranga, on ^, 10 if crash, @ 20^; 1 table-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 <5fc, 80 if Lima beans, @ 4^^; 1 doz. quail, $1.50. Cash sales, $30. 9. Sold John Ames, on ^, 4 shirts, @ $1.50. Rec'd cash, on ^, of Frank Graham, $12. Paid cash for drayage, $2.50. Sold Henry Artful, on % 30 if EngHsh broadcloth, @ $2.25. Cash sales, $38.25. 10. Cash 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, @ 25^5 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 <^, 6 doz. silk hkdfs., @ $4.50; 3 pes. cassimere, 150 if @ 75^. Cash sales, $18.20. 14. Sold John Ames, on % 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' salary, $60. Henry Artful has failed and his, note is worthless. On examination of our cash we find $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. 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 Mdse., $186, and received a check for $100. —Bal. on %. 2. Paid Fred Ogden $100 on note. Bo't of Cha«<. 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 6^ 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 69 EXERCISES FOK THE STUDENT. advertising $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 in 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. Sjnaller 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 commenced business this day with the following Assets and Liabilities: Cash J $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 M'f g 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 M'f g 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 ^c. 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;.l lounge, $18; received cash, $20. — Bal. on ^/c. 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 ^c. 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't of 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 ^y6, 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 ^c. 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 ^c. May 18. Received cash on ^c 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 ^, 6 parlor chairs @ $5.50. Sold Walter Sumner, on ^, 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 ^c. 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 cash, $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. EXAMPLES FOE. STATEMENTS. Example 8. 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 books exhibit the following results: Nellie Day, 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. Kequired, 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 Kesources and Liabilities: IGO 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 ^Cj $40, and O. H. Grubbs, on note at 6 mos. $150. Jan. 2. Engaged LEenry 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 & 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 ^. Kec'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 & Co. 5 days @ $3.50 per day. March 31. Sold Jennie Mangrum, 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. 64 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 & Go'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 O. 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 ^Ic Sharpened iron bar for L. F. Puter and charged him $1.10, on ^c. Paid cash for beef, 75c. Jan. 4. Edward Spinks worked 2 days repairing shop and charged $7 on ^c. 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 ^c. Jan. 5. Paid cash 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 ^c,l buggy, $35. Mended wagon for F. E. Whitehurst, and charged $2.75 on ^. Jan. 6. Receivedcashforwork this week, $11.50. Mend- ed harrow for Edward Spinks and charged $1.50 on ^. Shod 1 horse for E. D. Martin and charged $2 on^c, Jan. 7. Paid Malsie Livingston, on ^, $10. Made 1 set of hinges for H. A. Baggett and charged $1.00 on ^. Shod 1 horse for J. A. Cilker and charged $1.75 on ^c. 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 ^c, Bo^t of F. E. Whithurst,on^c; 50 lbs. salt, $1.25; 100 lbs. flour, $2.25; 5 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. Kepaired cart for E. D. Martin and charged $3.50 on ^. Jan. 13. Bo'tof 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 IIL In the following set, we have presented a method of keeping accounts, which is used by several large provision merchauta 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 Dr. and Or., written directly after the party's name, are suificiently 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 full on the face of the Ledger, has the advantage that an itemized bill may be nsftde out without referring to the Day Book. 67 MODEL SET IH. 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 AUen com- mence business with the following resources and liabilities j gains and losses to be divided equally: Carl Allen invests, cash, $800 j merchandise^ $800; personal accounts, as foUows: Mamie Murray, $150; Wm. Bacon, $250. G. W. Congdon holds Carl AUen'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 % 50/!^ rice, @ 8^; b 1^ ker- osene, @ 45^; 4# tea, @ 60f Bo't of W. S. Bailey, for cash, 500 ]^ Lima beans, @ 5^; 400 7/' salt, @ 2^; 400 ff sugar, % 10^. Paid cash for stationery, $2.25. Sold Mamie Murray, 50;^ pickles, @ 8^; 80 # sugar, @ 13^; rec'd 10^ eggs, @ 30^ — ^balance on acc't. Cash sales, $35. • 3. Sold Mattie Trimble, on ^, 10 # vinegar, @ 30^; ^ 1^ coflfee, @ 20^; 5;^ tea, @ 50^. Bo't of W. S. Bailey, on ^, 100 bbls. flour, @ $5; 300;iff bacon, @ 15^; 120^ coffee, @ 15^. Paid cash for insurance, $13.25. Eec'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, @ Kf, Discounted our note held by G. W. Congdon, paying her cash, $95. Rec'd from Blanche Krahl, cash, $100, to be credited on her note. Cash sales, $38.50. 5. Sold C. N. MiUs, for cash, 10]^ starch, @ 12^^; 6 chickens, @ 50^; 120 ;if potatoes, @ 2^; b f^ 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 ]^ dried prunes, @ lOf Cash sales, $40.80. 6. Debit Carl AUen 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 Set 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 K B // Henry Norton, Cr. For Investment as follows: Cash Mdse Note, per B. B Dr. Mattie Trimble, on (^ // Mamie Murray, Dr. Balance, favor C. Allen. // Wm. Bacon, Dr. Balance, favor C. Allen // Mattie Trimble, Cr. Balance, due from H. Norton 2. Wm. Bacon, Dr. 50;^ Rice, @ 8^ 5 ^ Kerosene, 450 4;^ Tea, 60^ Mamie Murray, Dr. 60 ;^ Pickles, @ 80 80;^ Sugar. 130 Cr. 10 /f Egg«, @ 300 72 72 72 73 73 73 72 72 800 800 150 250 2000^ 100 1000 700 300 2000 100 150 25C lOff 40 885 14 40 3.] DAY BOOK. SAN JOSE, January 3, ISS4. Mattie Trimble, Dr. 10 ]^ Vinegar, @ 30?l 8 ^ Coffee, 20^5 5j^ Tea, SOjf // Wm. Bacon, Cr. Cash // Mattie Trimble, Dr. 2 boxes Soap, @ $1.25 1 sk. Flour, 1.50 1 box Crackers, 2.10 // Mamie Murray, Cr. Order on Cora Lee 4. Wm. Bacon, Dr. 2 sks. Flour, @ $1.50 4;^Tea, 75j5 20;!f^Eice, 7|^ 5. C. N. Mills, Dr. 10 ^ Starch, @ 12^^ 6 Chickens, 50^ 120 fj^ Potatoes, 20 5 j!^ Syrup, 60jJ // Wm. Bacon, Cr. Note, to balance account Mamie Murray, Dr. 50 bbls. Flour, @ $6 Cr. Note at 60 ds 6. Carl Allen, Dr. Mdse. to date Henry Norton, Dr. Mdse. to date 70 73 73 73 72 T3 60 50 10 IOC 50 50 10 610 50 40 40 25 40 965 166 05 300 ; 200 5850 75 S«T 3.] INVOICE BOOK. (Bills pasted in.) AlI^KN k NOBTOX, Sax Fkaxcisco, Jan. 2, 1884. BmiglU of W. S. Bailey. 73 563 150 t 500 }^ Lima Beans, 400 / Salt, 400 ^ Sugar, AlUCN k NOBTOK, @ 5?{ $25. 2^1 8. 10?f 40. $73. Rec'd Payment, — Cash. W. S. Bailky. 73 Sax Francisco, January 3, 1884. Bought of \Y. S. Bailey. 100 bbls. Flour, 300 ;^ Bacon, 120 / Coffee, AlUSN & NOBTOX, @$5 $500. 15'/ 45. l^ 18. $563. Ch'd to acc't. 73 Sax Jose, Jan. 5, 1884, Bought of Mattie Trimble. 1,500 J^ Dried Prunes, @10^ $150. Ch'd to acc't. Set 3.] CASH BOOK. Dn. Cr. 1884 Jan. 1 2 2 2 3 3 3 4 4 4 5 5 C Amt. on hand 1800 35 100 50 25 100 38 9 40 2199 80 50 65 80 73 2 13 95 201G 2199 Paid W. S. Bailey, Mdse Paid for Stationery •?5 Rec'd for Sales Paid for Insurance ?5 Rec'd of Wm. Bacon, on <% 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. MilU, Mdse Rec'd for Sales Balance ?*r 75 71 la (^ w S O CO 'O o o 13 ^ ;ls II 11^ Si^l 8^^ DISCOUNT. Debit when allowed to others. | Credit when allowed to us. Interest is the compensation allowed for the use of money; 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 receive^ and credit Cash for the cash we give 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. 85 PEINCIPLES AND EXILES. BJSAIi ESTATE. 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. PEKSONAI. ACCOUNTS. Debit, at commencement, for what they owe usj and debit for everything 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 account is the larger, the difference between the two sides is a Resource. If the credit side is the larger, the difference is a Liabihty. IiOST ACCOUNTS AXD 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 by per- sons failing in business, mak- ing assignments, etc. •Close this account into Loss and Gain. This account is not nsuaUy opened in the Ledger; but it will pay to keep it for the information it furnishes in a condensed fonn. 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 entirely worthless, credit it in red ink, — "Lost Accounts and Notes," for the balance of the account, and caiTy this balance to the debit side of Loss and Gain account, writing the name of the account from which it was transferred. Posting is caiTying accotmts to the Ledger. An account is opened in the Ledger with every debit and credit item found in the Journal. 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. SG PRINCIPLES AND EULES. In posting debit items, write as an explanation in the Ledger account, the name of the credit itemj 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, BiUs Receivable, Personal accounts, etc. Change Single Entry to Double Entry in the following manner : First. — Take an inventory of Mdse., and all other property on hand not at present represented in the Ledger; open an ac- count m the Ledger for each kind of property, — Merchandise, BlUs Payable, BiUs 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 wiU bo the Present Worth, and by comparing it with the Net Capital at commencing, the loss or gain will bo found. Enter this amt. as "Loss and Gain" in the Ledger, on the proper side of the Proprietor's account — if it is a Grain, on the credit side, if a Loss, on the debit side. 87 PEINCIPLES 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. When 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, wiU 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, 'jo right of explanation column; thus: (March 10). 88 89 PEINCIPLES AND EULES. EXAMPLES OF JOURNALIZING. DAT BOOK RECORD. 1200 2050 2000 530 1200 800 75 500 220 40 100 JOURNAI. ENTRY. 1200 700 300 150 900 900 500 400 200 530 1200 800 75 500 220 40 100 1. Cash this day, with Cash C. P.Evans l?00 2 C T* T^lvans p.nmTnpTip.pfl hnsinpsa 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 ^c 150 Mdse., perl. B 900 C. P. Evans 2050 3. C. P. Evans commenced business 3. Mdse with Resources and Liabilities as Cash follows: Resoiirces. Mdse., perl. B $900 Cash, per C. B 500 Notes, per B. B 400 Frank Graham owes on c^c. • 200 Liabilities. Jas. Nunnelly, due him on <% 180 Bills Payable, per B. B 350 Bills Rec Frank Graham C. P. Evans // C. P. Evans Jas. Nnnnelly . . . Bills Pay 2000 180 350 4- T^ri'f. of TiiiPinQ Allpn "fnr pjiqIi 4. Mdse 200 bbls. Flour, @ $6 Cash 1200 5. Sold H. Witherspoon, for cash, 100 bbls. Beef, @ $8 5. Cash Mdse 800 6. Bo't of R. D. Sinnott, on a^c, 500 y 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 Mdse 500 10 bbls. Beef, @ $20 200 8. Bo't of Frank Canch, on note at 8. Mdse 60 ds., 200 ^ Lima Beans, @ 5$J . . .$ 10 1,400 ff^ Dried Peaches, @ \^ 210 Bills Pay 220 9. "Paid rent for store, in cash 9. Expense Cash 40 10. Rec'd of G. W. Koch, cash on 10. Cash ajc G. W. Koch 100 90 PRINCIPLES AND RULES. DAY BOOK RECORD. 500 125 150 300 100 200 250 100 200 300 280 312 250 11. JOURNAI. ENTRY. 150 350 125 150 300 300 250 100 200 290 10 280 12 300 250 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, 12. Mdse 500 Hi Raisins, @ 255!5 Bills Pay Kate Bromley .... 100 Gave my note for $100 Balance on <% 25 25 13. Paid my note of the 5th inst.. 13. Bills Pay favor of Fanny Stockton, in cash Cash 150 14. Bo't safe for office, and paid cash 14. Expense Cash 300 16. Paid Arthur Braly, to apply on account, cash 15. Arthur Braly Cash 100 My note at 30 ds Bills Pay '>00 16. Sold my office safe to W. B. Zimmerman, and received his 16. Bills Rec Expense, ?50 note at 60 ds 17. Rec'd of Martha Bradley, to bal- ance account, 17. Cash Bills Rec Cash Martha Bradley.. 300 Note at 60 ds 18. Paid my note of 10th inst., favor of Mary Young, with interest, in cash 18. Bills Pay Interest Cash 300 Face of Note $290 Interest to date 10 19. Prepaid my note of 8th inst., favor Agnes Spatz ... 19. Bills Pay Discount 6 Discount off, 20 ds $ 6 Paid balance in cash 274 Cash ?74 20. Mary Harriman prepaid her note of Ist inst ,20. 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 Bills Pay 250 01 PRINCIPLES AND RULES. DAY BOOK RECORD. 200 100 12 200 25 30 300 500 80 100 100 22. ^ bad ace Ace wit Los JOURNAX ENTRY. 2O0 100 3 200 25 30 300 500 80 100 100 22. We hold a note against John Doe, and we learn that he died on the 5th inst., insolvent. Face of Note Loss and Gain Bills Rec OTE. — When we have several notes ami accounts, open an ouiit vith "Lost Notes and omits," and charge that acc't h the 22d and 23d, instead of 3 and Gain. 200 23. Richard Roe has failed in busi- ness, and we have lost his acc't. Amt 23. Loss and Gain Richard Roe 100 24. Sold Carrie Claypool, 100 il Suffar. (cbj\2c an inventory, and found Mdse. on hand, $1480 97 JOUENAL-DAY BOOK. Sbt 2.] SAN FRANCISCO, January 2, I884. Dr, Cr. 101 101 Commenced business as per agreement in M. B. Cash, On hand, Mdse., In store, Marine Gage, Investment, 1000 1500 2500 - 101 102 Marine Gage, Note, favor Clara Shaw, dated Bills Payable, [Dec. 1, '83, at 60 ds. 200 200 1/ 102 101 Cash, Bills Receivable, C. N. Mills On hand. Note, as per B. B. , Investment, 2000 300 2300 101 1/ Mdse., Cash, Bo't of H. D. Hollingsworth, [as per I. B. 900 900 102 101 102 101 Mabel Field, Mdse., Bills Receivable, Mdse., 1 Shawl, . - . $10. 18 ff Parsee cloth, @ QOjzJ 16.20 1 pr. Gloves, - - 1.75 27 175 95 27 175 95 Sold H. R. Bailey on note, [as per B. B. ^/ 101 Cash, Mdse., Cash sales. 70 70 102 1/ Expense, Cash. 3. Paid for Insurance, 15 25 15 25 102 101 Eva Hasty, Mdse., BiUof Mdse., 60 60 1/ 103 101 Cash, Hiram Pawley, Mdse., Sold H. Pawley, Mdse, and [received part payment, 80 40 120 102 Expense, Cash, Paid for stationery and stamps. 6 25 6 25 V 101 Cash, Mdse., Cash sales, Amt. forward. 65 6439 50 95 65 50 6439 95 98 Set 2.] JOUENAL-DAY BOOK. SAJV FRANCISCO, January 4, IS84. Forward Eva Hasty Mdse. 1 pr. Gaiters $3.25 18 ;jC Pacific Lawns, @ 50^ _9^ // Henry Hardcaae 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 <%. // Expense Commercial Bank Paid rent of store, by check. Amt. forward 90 Db. Cr. 102! 101 103 101 102 V 101 102 101 102 V 102 102 V 101 101 102 103 102 102 643995 1225 75 200 40 100 2000 70 60 150 40 918720 643995 1225 75 200 40 100 2000 70 60 100 50 40 918720 Set 2.] JOUENAL-DAY BOOK. SAN FRANCISCO, Jan. 6, I884. jy^ Cr. Sales. 102 V 101 101 101 102 103 102 103 101 V 101 102 101 101 101 101 Forward . Commercial Bank Cash Deposited in bank. Cash Mdse. Cash sales. Cash. Mabel Field. Rec'd on afc- Bills Payable Discount Commercial Bank Discounted Gage's note, favor Clara Shaw, and gave check on bank. Hiram Pawley Mdse Sold him on <%. Cash. Mdse. Cash sales. Eva Hasty Mdse . . . Sold her on <%. Cash. Mdse, Cash sales. 10. Mabel Field Mdse Sold her on 1%. 19187 80 35 12 200 80 61 30 58 40 20 10 9783 30 19187 2(^ 80 35 12 8 192 80 61 30 58 40 10 |978^|30 35 80 61 30 68 40 304 10 10 100 Set 2.] LEDOER. MARINE GAGE, 1884 Jan. 2 << 11 «< 11 Bills Payable i Loss and Gain . . . l Balance L 103 200 129 103 '2170 2500 1884 Jan. Investment. 2500 2500 C. N. MILLS. 1884J Jan i Loss and Gain . . . l Balance l 129 S17065 2300 1884 35 Jan Investment. 98 2300 2300 MBSE. 1884i Jan. Marine Gage Cash Sundries Loss and Oain l 98' 98| 99 103 1500 900 150 39M 1884 Jan. 258980 2 Mabel Field 2 Bills Receivable . . . . 2 Cash 3| Eva Hasty Sundries Cash Eva Hasty H. Hardcase Cash Bills Receivable 5! Cash 6 Cash 8 H. Pawley Cash Eva Hasty. . Cash Mabel Field. Balance 98 98 99 99 99 99 99 100 100 100 100 100 100 lI103 2795 175 70 60 120 6550 1225 75 40 100 10 I4SO 258980 BILLS PAYABLE. 1884 Jan. Sundries . 200 Il884 Jjan. Marine Gage 98 200 101 SBT2.] LEDGER. BILLS RECEIVABLE, 1884 Jan. 2 (( 2 «( 5 C. N. Mills Mdse 1884 98 300 Jan. 4 98 175 11 6 99 100 << 11 <( 11 575 Cash Mdse , L. d: G., [Trmmp'i NoU.] . . L Balance l 99 200 99 100 103 100 103 175 575 EXPENSE. 1884 Jan Cash Commercial Bank. 1884 98 15 25 Jan. 11 98 6 25 99 70 99 40 131 5^^ Loss and Gain 103 13150 131 50 MABEL FIELD. 1884 Jan. Mdse. 98 100 1884 Jan. 11 Cash . . . Balance ,. 100 Ll03 67 12 5595 95 EVA BASTY. 1884 Jan. Mdse. |1884 98 60 \jan. 11 99 12 25 100 30 102 25 Balance. 103 10225 10225 COMMERCIAL BANK. 1884 Jan, Cash '1884 99 2000 Jan. 5 100 80 1" It 6 8 11 2080 Expense . Bills Payable Balance 99 99 100 L103 70 40 192 1778 2080 102 Set 2.] LEDGER. HIRAM PAWLEY. 18841 Jan. Mdse 100 J 1884 Jan. 11 Balance L 1C3 120 120 DISCOUNT AND INTEREST, 1884 Jan. 11 Loss and Gain l 103 |1884 |Jan. Bills Payable. 100 HENRY HARDGASE. 1884 Jan Mdse. 99 LI 75 fJan. !l884 I; 11 Loss and Gain 103 75 FRANK PORTER. 1884 Jan. 11 Balance iJl03 60 1884 Jan. .yi_5oi_ LOSS AND GAIN. 1884 Expense H. Hardcase l Bills Receivable . . . L 102 103 102 13150 75 100 30650! 1884 iJan. Mdse Disct. and Int. Gage dk Mills . . 101 103 101 3980 8 £5870 30650 BALANCE. 1884 Jan. (( << 5 9 p f 1 1 1 Amt. Dtepooed of. San Francisco. San Francisco. San Francisco. 1884 1884 1884 31 1 2 300 127 14^ 50 Paid. Lost. 3.] PAYABLE, WHEN DUE. 1 Where Payable. Yr. i 1 S "a J2. p ■< •s. 1 1 1 Amt. DiBposedot San Francisco. San Francisco. 1884 1884 2 13 350 140 Paid. 105 Set 2.] CASH BOOK. 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 65 200 40 60 35 12 61 58 3681 50 60 900 15 625 2000 80 680 368160 25 10 Set 2.] TRIAL BALANCE. Jan. 11. 1884. Marine Gage C. W. Mills Mdse BiUs Payable Bills Receivable Expense Mabel Field Eva Hasty Hiram Pawley Discount and Interest Commercial Bank . . . . , H. Hardcase Frank Porter Gash Fack of Ledger. Dr. 200 2550 200 575 131 67 10225 120 2080 75 3681 978330 00 2500| 23001 110980 200 300 12 8 302 50| 13001 50 9783p'>0 2300 2300 Balances. 50 4658 Cr. 144020 275 131 55 102 120 1778 75 ||4658 10 106 MODEL SET III. In this set a Journal-Day Book, a Cash Book, Bill Book, In- voice Book, and Ledger will be kept. We shall post from the Journal 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 column, and each of these items is separately transferred to the Ledger, as in posting from the ordinary Journal. All bUls of Mdse. bought are pasted in the Invoice Book, as in Set m, p. 71, of Single Entrj^-. The debit column of Mdse. in the Journal contains the same Jimounts 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. Zimmerman's noUy 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 : note held by John Van Eaton for $350, dated June 15, '84, at 90 ds.; a personal account due Oliver Webb, amt. $150. July 2. Deposited $4600 in Commercial Bank. Bo't of Votaw & Co., a bill of Mdse., as per invoice, $1450; gave check on Com- 107 MODEL SET III. mercial Bank for $950; — balance on ^. Sold Mary Kelsey, on ^Jfe, 20 f^ black velvets, @ 75^; 50 # linen lawns, @ 25^ j 1 shawl, $30; 6 prs. ladies' kid gloves, @ 95^; 2 prs. ladies' Frencb kid sboes, @ $4.50. Paid cash for account books, $12.50, Rec'd cash, on «6, of Frank Herbert, $60. Sold Annie Girdner, on note at 60 ds., 20 ;f^ French silk, @ $3; 2^]^ polonaise suitings, @ 75^; 1 Thibet shawl, $25; 30 f^ Rhadama cloth, @ 45^; 50 ^ calico, @ 6J^; 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. Gave Oliver Webb an order on Mary Kelsey for $30. Cash sales, $85.50. 4. Sold Simon Crafty, on his note at 60 ds., 50 :ff Brussels carpet, @ $2.25; 10;^ broadcloth, @ $2.50; 1 pr. boots, $5. Sold Geo. Aimless, on ^, 1 pr. alligator boots, $16; 9 1^ broadcloth, @ $2.50; 6 prs. hose, @ 45^; 1 hat, $3. Loaned Y. Domberger, cash, $25. Cash sales, $81.10. 5. Deposited in Commercial Bank, cash, $125. Sold Peter 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. Burglars 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 :^ broadcloth, @ $2.50; 1 rubber coat, $6.50; ^ 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 # Merrimack cambric, @ 15^; 50 ]^ Ky. jean, @ 30^; 25 ;f^ cashmere, @ $1; 50;^ 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 s IS CO >-H § a H '-i^ ^ W O 3 H- iS^g'^ IS t3£ PQ S '5 « ^-^ H^ ^ S^=^^ I CO CO CO- ■pj- s« ¥ S5 03 109 o 1 ¥ (N ■ l-" CN l-H S« o o o o o go s pH O rl< o CO .pH "^ ^ §S§ to • o 00 »r5 CO CO i;£ > '5b TS • -^i- i § ;§• s-ss*": g ^ ^ l< ^ ^ (N M s • «: 1 1 (4 < ft*' 1 8 (§) Q h4 ::)0 W >« i nnie Girdner, note at 60 ds. )j( French Silk, )j( Polonaise Suitings, rhibet Shawl, }j( Rhadama Cloth, ^ Calico, Ladies' Hats. 3. Discount an Cash Bills Payab s note, payin 0. II § IS 1 to a i 2 5 II o o fa' O '^S^ ^^§c^ E? H o a> ^ ^ w ■TJ ■.d 2'^ rr -^^ « S p2 1^ S H ^ w M H O Ph* CO CO ^ Ti« i-t ^4 ^ •^ -' - ii o ^ ^ 5o 8 8 " ,_, s.- i*r CO !^« a c» w 1 110 s -e^ s (^ 3 C3 ^- >» ",2 O ei c4 CO ^ »«o ooo l>. lO O 'I* o t^ CC (N «o ©i g 5|"l Alligator Broadcloth . Hose, t, 1 ' m 1 1 12 1 ll 1 > s gin (N ^ ITS > W -^^ ^ g ^ g ^ ft d "W «5 »6 i-H ?*i rH V 8 UX 1 Is s _l > J S It 28 s CO 1. . IS S s g !^^ ?5 CO CO s rn CO CQ CO CO l-H h) '"' '"' r-i (— t ^ m • 1 1 : 2 i2 s ^" . ^ : : : : • bO .s 1 2 2g «" • t @ ^ 1 3 u ^ « "S 03 & ^ pi JO :3 X ^ cT ^ o Q 'a V Q 5 Stp 2 « -S i> ^^ ^1 ll ^ i ^ 1 i fl o ri4 ri fs "S-s ■UtI 2 J3 O-^ ^ . -a to ►H -2 ll O t3 02^ ^^ii II ■*3 -t-» g-2=%%y.^A S (N Q >0 O ^ ^ S o eo Kl ^ r-4 •-* '"' 1— 1 i gas »o o JO >ft _o_ o >o — eo~ ^ c> CO Eft CD o o 1 t>. 00 (N 1 u ^ s . B w g 8 S 1 g S O ►— H . »c 'd n o ~^ lO Tf< hi '^ "" •— ' '"' !— I c^ Cv (M « ^ »o -ffi oo 1 1 s -^ > ^ ft >— < I-: "* " "* " " '* ^ '* H ■ ~ g 2 1 IT "g" ^|— 1 S "C ,_ cc !>• 00 CO 1 a OC t- CS CA 00 o i 1 81 SI §1 § 8 1 S i IC C.-5 # ^- CO •1 g ^ C^ ^ ■S S ^ : 1 o 'V3 -< ?f i S 1 ■■ > fl p^ a 1? "1 'l « » 1 - ^ H ^ 1 § aT .i«i fl (1 ^ w c " o a E f^ ■73 S 2 s .k 2 :; «• ■< P^ IS ^ :s PQ cr w -«- p^ h4 •^ '"' fr c^ T< lA -e: o -«£ 06 Oi i| -• § s -^ ■> ^ Q 00 f • " " - » >• «• ^ «• r-l H, i-a 1 116 TRIAL BALANCE AND BALANCE SHEET, Set 3.] July 10, I884. July 1 to July 10, I884. Henry Witherspoon . . W. W. Locke Merchandise Bills Receivable Bills Payable V. Domberger Oliver Webb Frank Herbert Votaw & Co Commercial Bank.. . . . Mary Kelsey Discount and Interest Geo. Aimless Loes and Gain Peter Nasby Expe Cash Trial Balance. Face of Ledger. De, 500 2600 569501 350 25 6263 200 20 20 4925 72 15 . 44 110 224501 725 68440 1119545 Cb. 41 251 148045 300 490 150 60 650 1525 30 10 11954.^ \1791 127 25 140 3400 42 224 684 6949 20 50 40 10 140 87 650 877 35 35 Losses. 14250 5 44201 110 210 511 70 GAim. 671 45 67145 EEVIEW QUESTIONS. 1. Define Double Entry 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 T 8. Define the Journal. 9. What is a Journal-Day Book? 10. What is journalizing t 11. Where are debit items in the Journal placed! 12. Where are credit items 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 EEVIEW QUESTIONS. in the Journal ? 16. What is the principal use of the Ledger ? 17. What is the difference 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 Mnds of accounts in Double Entry ? 33. Name and define the classes of accounts. 34. Why do we call one class a Eepresentative 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 all the Ledger accounts in order to know the condition of business? 46. What does the debit 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. c "Set of books," mentioning the various steps in their order. 55. Why is the Mdse. Inventory entered on the credit side ol the Hdse. account? 56. What other accounts may have an Inven- tory credit 1 57. State the use of red ink in Double Entry. 58. AVTiy are the various Inventories placed on the debit side of Bal- ance account? 59. When a Representative account is closed, "what is brought down under the rulings ? 60. When a Balance account is closed, what is brought down under the rulings ? 61. Why are these items brought down, and on which side? 62. Wlien and why is a Loss and Gain account opened ? 63. Which fide of this account shows gains; which side losses? 64. After closing Loss and Gain account into "Stock," what will the dif- ference between the two sides of Stock account show ? 65. When and why is a Balance account opened? 66. What does the debit side of Balance account represent; the credit side? 67. What does the difference between the two sides of Balance account fihow? 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. Illustrate by giving the term generally used in closing Bills 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 js 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 "discountiiig 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 . EEVIEW 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 ? 92. How, and when, 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 Book; in the Journal; in the Ledger? 97. What is an Index? 98. Where, (ind 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 III, 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. Wby does the term "cash" appear at aU 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 Oains in Single and in Double Entry. 106. Compare the methods ^"t finding the Net Capital at closing in these two systems. EXEECISES 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: ifcZse., $850; cash, $700. Jan. 2. Sold D. T. Seeley, on ^c, 5 }j( tea, @ 40^; 10 /^ coffee, @, 20^; 240 ^ 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; 125 ;K sugar, @ 12 J^. 120 EXERCISES FOE THE STUDENT. Sold A. R. Sheats, 4 boxes soap, @ $1.50; 5 if syrup, @ 80^ j 600;^ flour, @ $3.25 per C; rec'd cash, $15; — ^balance on acc't. Paid cash, for insurance, $10.50. Cash sales, $61. 4. Sold D. T. Seeley, on % a bill of Mdse., $42. Sold Ida Thomas, 4 # vinegar, @ 50^; 60/^ sugar, @ 13?; 1 keg pickles, $2.25; rec'd, in ex- change, 8 If eggs, @ 35?; — ^balance on acc't. Bo^t of S. W. Smith, on ojc^ 400 if sweet potatoes, @ 3?. Cash sales, $38.50. Rec'd cash, on ^, of D. T. Seeley, $20. Sold Ida Thomas, on % 1 ham, 20 if, @ 20?. Bo't of F. M. Young, for cash, 16 if eggs, @ 30?. Rec'd cash, $25, from C. A- Lee, to apply on note of 3d inst. Sold A. R. Sheats, on % a bill of Mdse,, $30. Cash sales, $42. 6. Sold D. T. Seeley, on % 40 / sweet potatoes, @ 4?; m if sugar, @ 13?. Rec'd cash, in full of ofc^ of Ida Thomas. Sold F. M. Young, a bill of Mdse., %^'^^ and rec'd cash, $40. Paid cash, for stationery, $4.25. Sold W. H. Bailey, on note at 30 ds., a biU of Mdse., $110. Bo't of A. R. Sheats, on % 120 C. ground barley, @ $1.85 per C. Cash sales, $65. 8. Rec'd cash in fuU, of C. A. Lee, for balance due on note. Sold M. F. Young, on «6, 300 if flour, @ $3 per C; 80 if eweet potatoes, % 4J?. Cash sales, $25. 9. Bo't of S. W. SraitJi, on 4, 500 i^ dried peaches, % 15?. Sold A. R. Sheats, S bbls. flottf; % $6.25; rec'd check for $40; — ^balance on acc't. James Trimble has worked for us 5 days, repairing sidewalk, @ $2.50; and we have paid him in cash. Cash sales, $47. 10. Sold Peter Cooper, on <^, 450 if wheat, $1.90 per C; 10 # vinegar, @ 60?; ^ If bacon, @ 18?. Chas. Jones has worked for us 8 ds. in store. @ $2; we let him have Mdse. for that amt. Cash sales, i^u Took au inventory and found Mdse. on hand, $575. Set Sf. 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 follows: Resources: Cas/j, $4000; 3f(cf5e.,$5000; Davis W. Hunter's nofe, at 60 ds., favor of student, dated April 1, '83, for $370; Edward Sheldon owes him, on <5fc, $310. Liabilities: Ifote^ favor C. H. Osbom, dated March 1, '83, for $450; balance due R. A. CoLman, on f^, $300. May 2 Bo't of Fletcher & Co., on fjh, 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 ^, 425 ;^ blk. velvets, @ 75^; 120 ]ff Foulard silk, @ 63^. Sold R. S. Otis, on Ms note at 30 ds., 50 doz. English hose, $2.50; 300 ]^ spring chintzes, @ 6^; 200 # 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 jf^ lace bunting, @ 85? 4. Sold T. R. Foster, on % 300 ff linen lawns, <© 25?. Sold D. WiUiams & Son, on ^, 450 doz. children's stockings, @ $1.80. 5. Sold Geo. H. Stevens, for cash, 275;^ cashmere, @ 60?. Paid cash for an invoice of Mohairs, $147.30. S. 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 f^ blk. tamise, @ 65?. 9, Rec'd from T. R. Foster, cash on <^, $467.50. Discounted Davis Wo 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 ^, $250. 12. Sold T. R. Foster, on % 240 ^ shepherd's plaids, @ 35?; 160;!?^ tilliard cashmere, @ $2.30. 13. Paid for adver- tising m 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 ;fr debege, @ 35?. 17. Paid for an invoice of silks, bo't of Dunn & Cooj $285. Bo't of Fletcher & Co., on ^, an invoice of blk. silks, $542.25. 18. Sold C. R. Gibson, for cash, 245 ;^ spring gingham, @ 9?. Paid San Jose Times, for advertising, $8.50. 19. Rec'd of r. R. Foster, cash in full of acc't. 20. Bo't of Fletcher & Co., on OUT note at 3 mos., 300 # check silks, @ 63?. 21. Sold M. H. Hill, for cash, 275 # linen lawns, @ 20?; 120 ^ satin hernani, @ 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 % an invoice of Mdse., $1895.45. 25. Rec'd of Edward Sheldon, cash in settlement of his acc't. 26. Paid Fletcher & Co., in fuU of acc't. 28. Sold R. A. Cohnan, on % 120 ff cam- brics, @ 8?. 29. Rec'd of R. S. Otis, on ^ of his note, $50. 30. Paid R. 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., $900; and a note against A. Taylor for $250. LiaMlities: He owes F. M. Mills, on o^, $200. Aug. 2. Sold H. V. Martin, on ^, 20 fj^ silk, @ $2.50; 5 j!^ lace, @ 25^; 6 ;f^ ribbon, @ 25^. Sold L. A. Bride, on ^, 50 /^^ grena- dine, @ 75^ ; 20 :ff cassimere, @ $1.12^. Rec'd cash on % $50. Rec'd for cash sales, $50. 3. Bo't of E. Asmug, 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 ojc, trimmings, $40; 20 # sheeting, @ 12 J^; 40 if muslin @ $1.25; she gave us an order on H. V. Martin for $42.50, which Martin paid. A. Cochrane 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. StoweU, on ojc, 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. MiUs cash, on ^, $150. H. V. Martin has failed; we accept a compromise at 20 C 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. StoweU paid cash in fuU of ^, $ Sold T. Cheeney, for cash, 25;^ merino, @ $1.25; 90;^ linen lace, @ 12^^; 10 ff satin, @ $2.50. Paid for paper, $5, pens, $1. A. Taylor paid his note in fuU, $250. 9. Gave $50 to a charitable institution. Bo't of D. Anderson, 400 ;ff linen, @ 25^; 1000 /^f^ cdico, @ 12i^; 400 ;ff 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. Stowell, 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: Cash, $3500; Mdse. $1800 j an acc't against J. W. Webster for $325. LiaUlities: Henry Fisb 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 horseshoes, @ $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 ojc, 50 kegs nails, @ $5; 10 kegs pat'd horseshoes, @ $12.50; 4 doz. door locks, @ $8.75. Paid cash for stationery 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 Hemy Parker for the amt. 8. Rec'd of J. Bishop, cash in fuU of acc't. 9. Bo't of J. W. Hubbard, on ^c, 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 <^, 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. pruning knives, @ $7.25; 10 doz. handsaws, @ $18; 3 124 EXERCISES FOR THE STUDENT. doz. incli framing chisels, @ $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't, $75. 21. Bo't of Welland & Co., for cash, 3 tons of coal, @ $13, for use of store. 22. J. Brown having faUed (after redeeming his note of the 18th inst., which we had given in payment 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 5. Los Angeles, Feb. 1, 1884. F. G. TyrreU and Fred Cauch commenced business to-day with resources and liabilities as follows, gains and losses to be divided equally : F. G. Tyrrell invests cash, $1800; Mdse., $2000; a note against G. W. Martin for $200, dated Jan. 1, 1884, at 90 ds. Fred Cauch invests cashj $4500; and Frank Porter holds his note, 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 Field & Co., a bin of Mdse., $1146; gave in payment our note at 60 ds. 4. Cash sales to-day, $38. 5. Sold L. Andrews on <^, 20 f gheeting, @ 11^; 10 ;ff Irish popUn, @ 80^. Paid cash for repairing lock on store, $1.80. Cash sales, $100. 6. Sold Mrs. R. Watson, 48 ;j( sheeting, @ 10^; 3 table-cloths, @ $1.25; 15 J^ 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 ^, $4. Bo't of MaUory & Co., a biU 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 ^ 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 # silk, @ $3.50 j rec'd his sight draft, on Hamlin & Co., for $50, and cash for balance. Fred Canch 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 yif^ muslin, @ 10^; 2 doz. hair nets, $4.50 J 2 doz. hdkfs., $3.50 j 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 biU of Mdse., $395; gave a check on Union Bank for $295, and note, at 60 ds., for balance. Sold Wm. Goodrich, on ^, 20 fjf black alpaca, @ $1; 10 # 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^; 18 f^ linen, @ ISJ^; 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 % 30 :^ black braid @ 15^; 12^ Scotch plaid, @ 50^. Sold W. Barber, on ^, 40 # muslin, @ 10^; 3 window-shades, @ $1. Paid S. J. Klein, on ^, $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;^ delaine, @ 15^; rec'd cash, $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 ^, $50. 17. Sold W. Barber, on ojc, 50 # 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. WilUams 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. WiUiams invests Mdse., $1400; cash, $500, and an account against M. A. Treat for $200. J. E. Gibson invests cash, $2400; a note against James Pearl, dated Aug. 1, 1883, at 90 ds., for $400. 126 EXERCISES FOR THE STUDENT. Sept. 2. Deposited $2600 in Farmers' Bank. Paid, in ad- vance, cash for rent, $80. Sold E. P. Heald, on <5fc, 1 case American prints, 1410 ff, @ 10^ ; 2 cases Union gingham, 1785 f^, @ 11^^. Cash sales, $70. 3. Sold Geo. Bybee, for cash, 875 if. Scotch gingham, @ 15J^. Sold Peter Ament, on ^, 50 if Union gingham, @ 12^^; 25 if French cassimere, @ $1.25. Sold John Elder, on % 20 if white flannel, @ 90^; 40 if woolen tweeds, @ 55^. Bo't of James Nunnelly, by check on Farmers' Bank, a biU of Mdse., $900. Cash sales, $88. 4. Bo't of W. A. Miller, on 60 ds.' credit, 10 pieces French broadcloth, 200 if @ $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;^ French broadcloth, @ $4.25; rec'd his note, at 60 ds., for $200; — ^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 biU 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 NunneUy, on <^, 50 ^ Valencia, @ 40^; 120 j!?^ alpaca, @ 30^. Deposited $100 in Farmers' Bank. Paid W. A. Miller $100 on ^, 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 (jhj 50 ;f Merrimack prints, @ 15^. Cash sales, $102. 10. Accepted W. A. Miner's draft on us, at 30 ds., for $200. Sold James Nunnelly, on <^, 10 }f broadcloth, at $3.80; 20 ^ 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 <5fc, 4 white shirts, @ $175. Cash sales, $60, 12. Deposited 127 EXERCISES FOR THE STUDENT. $75 in Farmers' Bank. Sold James Nunnelly, on ojc, 6 white shirts, @ $1,505 8 pr. socks, @ 25^; 1 umbrella, $1.50. Cash sales, $50. 13. , Cash sales, $42. 15. Sold John Owen 25 ^ 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, with l-esources and liabilities as follows: Resow^ces: Cash, $1775 j Mdse., $250; due from Frank Porter, on <%, $150; due from J. E. Raker, on ^, $175; a note against Gr. W. Koch, dated July 17, 1883, at 2 mos., for $150. LiaUlities: G. A. Mills oives W. H. Bailey on acc't, $107.50; a notSj 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,- rec'd his note, at CO 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, @ 75^'; 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 ff 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 fuU for his note. Sold W. H. Bailey, on ^, 3 doz. buttons, @ 75^^; 25 f^ trimming, @ 20^; 2 caps, @ $1.50; 3 prs. cufPs, @ 75^; 5 silk hdkfs., @ $2. Bo't of J. Zielan, on our note at 90 ds., COO prs. panfs, @ $5. Cash sales, $100. 8. Sold Ben Cory, 1 suit clothes, $40; 2 prs. boots, @ $7; 9 prs. silk hose, @ $1.1-5; 6 white shirts, @ $2; rec'd his note, at 60 ds., for $50; — balance in cash. Rec'd cash 128 EXERCISES FOR THE STUDENT. in full of acc't, of Robt. Adcock. Paid our note of July 15tli, in full; face of note, $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 ^, 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. Eec'd a $10 counterfeit bill in exchange for Mdse. Cash sales, $87. 10. Paid J. Trimble $400 cash, for a note against V. Domberger, due in 30 ds.; face of the note, $415. Cash sales, $40. Sold E. Zummalt, 1 suit clothes, $28.50 j 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. R^c'd of V. Domberger, for his note, cash $412. Bo't of 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 follows: Moses Frank invests cash^ $1500; Mdse., $3000. Ed. Dinkelspiel invests cashj $4500, and an account against Wm. Kennedy for $300. Ira Parker holds Ed. Dinkelspiel's note, 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 <%, 1 pr. shoes, $3.25; 16 f^ blue silk, @ $1.75. Sold Luella GiUespie, 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 ojc, 2 pes. Irish linen, 170;^, @ 40^; 10 doz. linen napkins, @ $1.25; 2 pes. gingham, 120;^, @ 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 FOB THE STUDENT. 3 mos., for $500. Sold Calvin Webster, on ^, 1 suit clothes, $38. Sold Emma Keeney, on ^, 2 prs. linen cuffs, 60^} 1 pr. gloves, $1.75 J bjff ribbons, $1.25. Rec'd from W. Kennedy, on «i6, an order on H. McEwen for $40. Bo't of Henry Pang- burn, for cash, 500 # prunes, @ 12^^. Rec'd cash on ^, of LueUa GiUespie, $10. Cash sales, $41.80. 5. Sold Chas. O'Neil, on liis 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 groceries, $800. Deposited $190, in Suisun Bank. Cash sales, $89. 6. Sold Horace Crocker, on ^, 2 bbls. flour, @ $6.50 J 2^f^ bacon, @ 20^; 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 Losh, on ojc, a bill of Mdse., $18.50. Paid Mrs. Tidy, for washing windows, $3.50. Sold Horace Crocker a bill of groceries, $27.50 j rec'd cash, $20; — balance on acc't. Sold Thos. Short, on ^, 220^ sugar, @ 13^. Ed. Dinkelspiel drew out cash, $75, for personal use. Cash sales, $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 ^, $50. Chas. Barnes repaired the sidewalk in front of our store; charged $10, and took groceries for that amt. Sold J. W. Price a biU 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 note 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 hand, and to keep the account with the bank by means of the Bank Book and 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, $4000f gave our check on City Bank for $2000 j — ^balance on acc't. 2. Rented a store of H. Witherspoon at $100 per montli, and paid, cash, $25 in advance. Bo't of Geo. Duncan, on our note at 3 mos., 2J tons dried prunes, @ $220; 2 tons dried 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 have a specific 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 of,y 100 fj^ dried prunes, @ 15^; 120 ffi sugar @ 13^. Sold J. W. SuUivan 5 bbls. salt, 980;^, @ 2^; 200 ;!ff salt pork, @ 18^; 75;^ cheese, @ 20^; rec'd, cash, $25;— balance CD 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 discoimted Marine Gage's note. Rec'd of Eva Hasty, on % 10 ]^ e^^, @ 35^. 131 EXEECISES FOR THE STUDENT. Sold A. M. Gray, on <^, 150;^ 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.; net proceeds, $625. Adams & Co. sent a sight draft, on Bancroft & Co., for $500; — balance on ace't. The debits in tMs transaction are Cashi and 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, etc. We paid drayage on this shipment, $4.50. In this transaction make a memorandum, stating that the goods were re* ceived, but make no Journal entry. Afterwards debit Frank & Sons fos all costs to us, 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- sion, 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 Geo. Duncan, on ^j a biU 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 c:has. Owen, by check on City Bank, an invoice of groceries, $500. 132 EXERCISES FOE 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 ^, 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 j 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 StMdenfs 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 ^. 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 % 500;!^ 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 «|6, an order on Ira Parker for $40. Cash sales, $116. 17. Sold Florence Childs, on <5fc, 10 J^ silk velvet, @ $1.50 j 8 J^ cashmere, @ 75^; 6 prs. hose, @ 50^. Sold Thos. Hardie, on ^, a bill of groceries, $28.75. Sold John Adams, fcxr cash, 600 ;j( Wells's flour, @ $3.75 per C. Shipped to Farmers' Union, San Jose, to be sold on our ac- count, 4J tons dried prunes, @ $200. Sold J. W. Sullivan, 180;^ sugar, @ 14^ j 50;^ rice, @ 6^; 133 EXEECISES FOR THE STUDENT. 600;!ff flour, @ $3.80 per C.j rec'd cash, $20 j— balance on ace't. Deposited $160 in Bank of Fresno Sold Loyd Childs, on Ids note @ 60 ds., IJ tons of prunes, @ $240. Cash sales, $68. 18. Sold, for cash, 1^ tons WeUs's flour, @ $80. Paid cash for a set of ace't books, $9.50. Sold Florence Childs, on ^, 1 cloak, $12; 1 pr. shoes, $3.25. Sold Thos. Hardie, on ^, 800 if wheat, @ $1.65 per C. Cash sales, $160. 19. Deposited $250 in Bank of Fresno. Bec'd, cash on <^, of Florence Childs, $15. Loyd Childs has returned 500 jf 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 y!^ codfish, @ 8^; 50;^ dried peaches, @ 16f Sold the remainder of "Wells's flour, for $500, cash. Sold Thos. Hardie 1^ 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 ^, 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. Eec'd $75 from Loyd Childs, to apply to his note of 17th inst. 134 EXERCISES FOR THE STUDENT. Sold J. F. OgdeD, on % 120;?^ mess pork, @ 20^j 5 j^ vin- egar, @ 40C5. Bo't of Moss & Co., a bill of Mdse., $1200; gave otir check on Bank of Fresno for $500 j — 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 Uibemia Bank, San Francisco, for that amt. Deposited this draft in Bank of Fresno. Cash sales, $78. 24. Sold J. F. Perez, on oj^^ 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 ^, 24 f/^ eggs, @ 35^. Sold J. F. Ogden, on % 28 C. of wheat, @ $1.80. Took an inventory and found Mdse. on hand, $4130; horse and wagon, $190. MODEL SET TV. 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- 136 MODEL SET lY. Day Book serves also as Invoice Book, in a condensed form. The hills of purchases are posted in a blank book, as in pre- ceeding sets. The items entered in the columns headed "Sunds. Dr./' and ''Sunds. Cr./' of the Journal-Day Book, are posted, as from an ordinary Journal, separately to the Ledger. The totals of Mdse. column are brought forward from page to page; 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 light-hand column, and the foot- ing of this column is brought forward from page to page, un- til the end of the day, week, or month, as desired; 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 the 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 note against Geo. Oberholtzer, dated Feb. 1, 1884, at 60 ds., for $500. Student owes F. M. Righter, on % $200. Deposited in City Bank, cash, $9500. 13G MODEL SET lY. 2. Bo't of Jayne & Son, on ^, 100 bxs. raisins, © $3.25, 40 doz. 2 if cove oysters, @ $5j 100 doz. 3 ff canned peaches^ @ $5; 300 bbls. flour @ $8. Sold S. Thompson, on ^ cove oysters, @ $6; 30 bxs. raisins, @ $4.25 j 10 bbls. flour, @ $9. Cash sales, $38. 3. Sold Jas. Campbell, for cash, 20 bbls. flour, @ $9j 20 bxs. raisins, @ $5j 10 doz. 2 ff cove oysters, % $5.50. Sold Ira More, on his note at 90 ds., 10 bxs. raisins, @ $5; 5 doz. 2 if cove oysters, @ $6j 20 doz. 3 if canned peaches, @ $6; 50 bbls. flour, @ $9. Bo't of Wm. Smith, on our note at 30 ds., 150 bbls. Gilroy flour, @ $7 J 150 doz. 1 if cove oysters, @ $2.50 j 3,000 if cheese, @ 10^; 100 bbls. apples, @ $3; 20 sks. Rio coffee, 3,000 j^, @ 15f 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 ;ff, @ lO^j 12 bbls. mess beef, @ $20j 12 bbls. prime pork, @ $15. Rec'd of S. Thompson, on % $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 j 10 bbls. mess beef, @ $21j 5 hhds. N. O. sugar, 6,000;!^, @ 11^; 10 sks. Rio coffee, 1,000 if, @ 14^ j 50 bbls. apples, @ $4. Exchanged notes with Geo. Martin, for our mutual accom- modation, each note drawn at 30 ds., for $600. Discoimted 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, @ $9j 20 doz. 1 /i^ cove oysters, @ $2.75} 10 bbls. ap- ples, @ $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 mackerel, @ $10; 40 bbls. S. I. sugar, 8,000 jiK. @ 10^; gave m MODEL SET TV. in payment Ira More's note for $490 (face of note, $500) ; check on City Bank for $900; — ^balance on acc't. Sold John Utter, for cash, 25 bbls. white fish, @ $10 j 20 hbls. S. I. sugar, 4,000 j!^, @ 12^. Deposited in City Bank, cash, $600. 6. Sold Agnes Parsons, on ^, 1,500 ^^ cheese, @ 15^. Paid for repairing wagon, cash, $12. Rec^d from J. L. Mosher, on ^, a sight draft on Ames & Co., for $400. Gave F. M, Righter an order, on Agnes Parsons, for $150. Sold John Utter, on «|6, 10 bbls. mess beef, @ $21 j 10 bbls. prime pork, @ $15. 8. Sold Wynn Reeves, on (jh, 20 bbls. flour, @ $8.50. Sold "Wm. Kinloch, for cash, 20 cases kerosene, @ $2.50 j 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. Set 4.] CHECK BOOK STUBS. > >rri H W tz! > !^ H « fej 1 > J^ H O !2; ^ B ^ O ^ p 3 H o 1 .o g a ^ ' 1 -^ r 3 J5 tr CT* SJ' OO tn 4^ l_l ^ W g ." W O g •** u^ g ^ s .- ' ^ I r\ 1 1884, arch >seph dse. o n 'i Q .^ 1 1 1" a> • "~^ • 0. «o u tP- -c Oi CO O *.0«
    O • O D 8 1 138 Sbt 4.] JOUENAL-DAY BOOK. OAKLAND, March 1, I884. L.P T 141 141 141 141 141 1431 141 143 141 V 142 / 141 142 143 142 141 142 141 141 • 141 142 Cash Bills Eeceivable Student For Investment Student F. M. Righter Due on ojfc. 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 Mere's note for $490 (face of note $500); check on bank ; — balance on ^. 6. F. M. Righter Agnea Parsons Oaye an order on A. Parsons. Mdse. Dr. 3425 2475 C40 1750 8190 10000 500 200 200 600 1200 10 150 12860 SUJJDS. CSb. 10500 200 3425 2475 540 200 600 1200 360 500 900 150 21050 WJ Set 4.] SALES BOOK. OAKLAND, March 2, I884. L.P. 142 141 142 141 141 142 143 143 S. Thompson, San Jose. 20 doz. 2 iff Cove Oysters, @ $6. . . .$120. 30 bxs. Raisins, 4.25... 127.50 10 bbls. Flour, 9. . . . 90. 3. Cash, Jas. Campbell. 20 bbls. Flour, @ $9. . . .$180. 20 bxs. Raisins 5. ... 100. 10 doz. 2 f/. Cove Oysters, 5.50. . . 55. // Bills Receivable, Ira More, Note, 90 ds. 10 bxs. Raisins, @ $5. . . .$ 50. 5 doz. 2 ;^ Cove Oysters, 6. ... 30. 20 doz. 3 f^ Canned Peaches, 6. ... 120. 60 bbls. Flour, 9. . . . 450. 4. J. L. MosHER, Oakland. 10 bbls. Prime Pork, @ $17. ...$170. 10 " Mess Beef, 21. ... 210. 5 hhds. N. 0. Sugar, 600 ;^, .11... 660. 10 sks. Rio Coffee, 1000 ff, .14. . . 140. 50 bbls. Apples, 4. . . . 200. 5. Ira More Cash Bills Receivable 20 bbls. Gilroy Flour, @ $8. . . .$160. 100 bbls. Family Flour 9. ... 900. 20 doz. 1 fjl. Cove Oysters, 2.75. . . 55. 10 bbls. Apples, 4. . . . 40. Rec'd note, at 60 ds., $500; Cash, $200 ;— bal. on <%• Cash, John Utter. 25 bbls White Fish, @ $10. . . .$250. 20 '« S. I. Sugar, 4000 ;Jf, .12... 480. 6. Agnes Parsons. 1500 ff Prunes, @ 15^ , // John Utter, Sacramento. 10 bbls. Mess Beef, @ $21. . . .$210. 10 *' Prime Pork, 15. ... 150. 8. Wynn Reeves, Suisun City. 20 bbls. Flour, @ $8.50 Cash, Wm. Kinloch. 20 Cases Kerosene, @ $ 2.50. . .$ 50. 40 doz. Parlor Lamps, 15. . . . 60. 140 Cash. Totals. 337 50 337 50 335 650 1380 455 500 335 650 1380 200 730 225 360 170 4077 50 110 1375 1155 730 225 360 VQ 110 545250 Sirr4.] LEDGEE. STUDENT. 1884] Mar F. M. Righter... Balance L 200 10489 sd 10689 50' 1884 Mar Sundries.. . ...-.-. Loss and Gain .-. . . L 139 10500 id I 189 10689 BILLS RECEIVABLE: 1884 Mar Student 3 Mdse s. ] 4 Bills Payable 5 Mdse s. ] 139 140 139 140 500 650 600 500 2250 1884 Mar Cash c. Bl44 5 Sundries 139 9 Balance l 143 600 500 1150 2250 F. M. RIGHTER. 1884J Mar Agnes Parsons Balance ..139 ,Ll43 150 60 200 1884 Mar Student . 139 200 200 MERCHANDISE. 1884 Mar Jayne & Son.. Bills Payable. City Bank . . . Sundries 9 Loss and Gain . 139 139 139 139 143 3425 2475 540 1750 24050 8430 1884 Mar Cash . . . . Sundries . Balance. , Bl44 Bl40 .1143 1453 4077 2900{ 50 843050 H. F. CLARK. 18841 Ma Balance. Ll43 360 1884 Mar Sundries . 139 IRA MORE. 1884 Mar 5 Mdse R. B 1 40l 455 I il884 3/arj Balance l143 i 455 141 Set 4.] 1 LEDGEE. BILLS PAYABLE. 1884 Ma,r 8 9 Cash Balance. . . 4 C. B L 145 143 1200 3075 1884 Mar (( 3 4 5 Mdse 139 139 139 2475 600 1200 (( Bills Receivable. .. Jayne & Son 4275 4275 EXPENSE. 1884 Mar r 4 9 City Bank Cash C. B 139 145 200 36 1884 Mar 9 9 Balance i Loss and Gain . . . . L 143 143 d 236 236 DISCOUNT AND INTEREST. 1884 Mar 4 5 Cash Sundries . . C. B 145 139 10 10 1884 Mar 9 9 Cash C.B144 Loss and Gain 1 143 15 20 20 S. THOMPSON. 1884 Mar 2 Mdse S. B 140 337 50 1884 Mar 4 9 Cash c. B Balance l 144 143 200 137 50 337 50 337 50 J. L. MOSHEB. 1884 Ma,r 4 Mdse 140 1380 1884 Mar 6 9 Cash c. B Balance l 144 143 400 980 1380 1380 AGNES PARSONS. 1884 Mar 6 Mdse S. B 140 225 1884 Mar 6 9 _ F. M. Righter Balance l 139 143 150 75 225 — 142 Set. 4.] LEDaER. jAT^^u & son: 1884 MTir 5 9 Bills Payable Balance i 139 143 1200 2225 1884 Mar 2 Mdse 139 3425 '• _J 3425 1 3425 JOHN UTTER. 1884 Mar ^Mdse s. B 140 360 |1884 JMar 9 Balance l 143 360 = WYNW BEEVES. 18841 Mar Mdse . 140 170 1884 Mar Balance iJl43 170 LOSS AND GAIN-. 1884- Mar Expense l142 Disct. and Int iJl42 Student l141 Mdse. 141 24050 24050 BALANCE. 1884 Mar Bills Receivable . Mdse. Invt l Expense, Invt . . . S. Thompson l J. L. Mosher l Agnes Parsons . , 9 John Utter l|143 9 Ira More Wynn Reeves i Cash c. City Bank. .. .CK. 141 141 142 142 142 142 141 143 B|146 138 1150 2900 190 13750 980 76 360 455 170 422 9360 16199 50 1884 Mar F. M. Ptighter Jayne 1 i t -< 1 c o "5 •-> 9 -< ^ S 1 1 Amt. Disposed of. Oakland. Oakland. Oakland. 1884 1884 1884 2 3 4 2475 600 1200 Paid, Mar. 9, '84. BOOK. 4.1 Cb. Datb. L.P. 8UNDS. TO CASH. SCNDB. Ex- PEN8K. BiLtS Pay. Disc*. 1884 Mar «< 1 3 4 4 6 6 8 8 9 B 138 142 138 142 138 142 138 142 142 143 City Bank, Deposited ck. B Expense, 2 tons Coal 9500 500 600 400 1185 36 J^2 24 12 "~36 . 1200 10 • • 1* 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 Billfl .Pay. , Disctd. draft of 5th Inst. Expense Balance 12643 145 MODEL SET IV. 1 <= 1 10 . > 10 d> §^^ . ^ (S 00 CO o> •S S CO CO J iS M ^ 1—1 1 8 - : uTl §8 8 ^^^Slg^^g OS 1 rH Oi 1— t ■-< OS CO Tl< 1-1 •«* CO CO «5 euB =™" -*-r-=- =3=1 10 \Ci ^44 • . • . 01 OS « 6 w 00 2 qO iH 21 H p l-H ~~~ . ■~~~ . "~~" ■^~" '^~" . , •TT Ci & K5 10 . . . . OS W ^ 1 f "^ M-iT- • P^ K 1 =r= ■g J 3 i s ' P4 1 1 H 1 : s u ^ «5 § i OQ li w 1 § M e* 1 ^ p a '€- ^8- j_q 88^8§i^ "00000 Ci ^ «3 ^ »0 F-t (N ■»*< ^ ,_„^rweCC^(N u ' § ^ • & 3 u A : eo % -XJ bOCO ^ «1 l-S 2^ „• s . M § 1 1 140 EXEECISES FOR THE STUDENT. Set 11. Portland, Aug. 1, 1884. Student commenced busi- ness with cashj $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 % 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, @ 18f; 10 boxes Malaga raisins, @ $2.75; 25 bbls. flour, @ $7j rec'd in pay- ment, note at 90 ds., for $200; — ^balance on acc't. Sold M. A. Rouse, 60 boxes No. 1 herring, @ 25^; 800j!ff 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^; 500;^ 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 !ff wheat, @ $1.75 per C; 400 ff potatoes, @ 2^. Sold A. K. Ballon 800j!ff sugar, @ 12J^j rec'd cash, $75 j— 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 quality, 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. O. 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. iA^^ KEY TO EXEECISES FOR THE STUDENT, KEY TO EXEECISES FOR THE STUDENT. Paet L [Hon.— A " Key " to the exercises has been added, in order to afford the student reliable check* •B the outcome of his work. These " Closing Statements," also, will relieve the teacher from the tesk of verifying the purely arithmetical mrt of the work, permitting bis time to be given, wholly, to the book-keepmg 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< it.1 CLOSING STATEMENT, Set 1. Resources. • Personal Acc'ts. (Ledger)., Cash , lidse. (Inventory) , 14506 954 2360 345916 Liabilities. Personal Acc'ts. (Ledger).. . . 10|fr, Megarry's Present Net Cap. 85i60 S37t 3459 56 16 Wm. Megarry's Present Net Capital, $3373.56 " " Net Investment, 3106.50 •• « Net Gain, $267.06 CLOSING STATEMENT, Set 2. Resources. Personal Acc'ts. (Ledger) . . , Bills Receivable , Cash lildse. (Inventory) , Tools, etc. (Inventory) 177095 226 257 390 300 2944 30 25 Liabilities. Personal Acc'ts. (Ledger)... Student's Present Net Capital 125 281925 2944 25 Student's Present Net Capital, $2819.25 " Net Investment, 2150. * Net Gain, $ 669.25 CLOSING STATEMENT, Set 3. Resources. Personal Aco'ts. (Ledger)... CMh (Inventory) , 2256 56207 250 834 62 Liabilities. Personal Acc'ts. (Ledger) Wm. Bacon's Present Net Cap. 6 828 834 Wm. Bacon's Present Net CaplUl, $828.07 " « Net Investment, 800. - - Net Gain, $28.97 KEY TO EXERCISES FOR THE STUDENT. CLOSING STATEMENT, Set 4. Besoubcss. Personal Aec'ts. (Ledger). Bills Receivable Cash Mdse. (Inventory) 31610 71250 161116 4960 7599 75| Liabilities. Personal Aec'ts. (Ledger) . . . . M. H. Laioson'a Fres, Net Cap. 44716 716^99 759975 Martin H. Lawson'a Present Net Capital, $7152.29 •' " " Net InTCBtment, 6900. " •« "Net Gain, CLOSING STATEMENT, Set 5. Resoubces. Personal Aec'ts. (Ledger) . . . . Cash Bank Mdse. (Inventory) 84 361 784 900 2130 Liabilities. 671 Personal Aec'ts. (Ledger) . . . G. W. Congdon'aFres.NetCap. 159 1971 213052 G. "W. Congdon'8 Net Investment, f2039.90 • « Present Net Capital, 1971.02 " •• Net Loss. 9 68.88 CLOSING STATEMENT, Set 6. Eesources. Personal Aec'ts. (Ledger) Cash Bills Receivable Mdse. (Inventory) Real Estate, Store 92550 2109 865 6400 4000 1329963 13 Liabilities. Personal Aec'ts. (Ledger) . . . Ghipmand: Sears' Pres. NetCap 4267 1329963 Chipman it Sears' Present Net Capital, $9032.13 *• "Net Investment, 8621. •• " Net Gain, 8 411.13 Wm, Chipman'B \i Net Gain, I 205.67 Wm. H. Sears' J^ Net Gain, $ 205.6* •• •♦ Net Investment, 4295.25 " " •• Net Investment, 4325.75 •• * Pnwent Net Capital, $4500.82 •• •• « Present Net Capital, $4531.31 .1M KEY TO EXEECISES FOR THE STUDENT. Part II. CLOSING STATEMENT, Set 1, Resources. Cash on hand Bills Receivable Mdse., as per Inventory Liabilities. Personal Accounts Student's Capital at Commencement. StudenVa Net Gain 102833 110 575 150 5g 1550 127S[ 171333 1713K CLOSING STATEMENT, Set 2 Resources. Cash on hand Bills Receivable Personal Accounts Mdse., as per Inventory Liabilities. BUls Payable Student's Capital at Commencement Student's Net Gain 267646 243 810 762550! 73125, 8705 i9m(A 1135495 1135495 CLOSING STATEMENT, Set 3 Resources. Cash on hand Bills Receivable Personal Accounts Mdse., as per Inventory LlABILITIXS. Bills Payable A Cochrane's Capital at Commencement A. Cochrane's Net Oain 155 844^5 250 285 1750 1475 1650 10456 312955 312955 KEY TO EXERCISES FOR THE STUDENT. CLOSING STATEMENT, Set 4. Resoubces. Cash on hand Mdse., as per Inventory , Coal. '♦ " Liabilities. Personal Accounts Bills Payable Student's Capital at Commencement. StvderU's Net Gain 2427 4106 26 517 619 15150 I 1 75 9C 655975 655976 CLOSING STATEMENT, Set 5. Resources. Cash on hand Bills Receivable Mdse., as per Inventory Liabilities. Personal Accounts Bills Payable Tyrrell & Co.'s Capital at Commencement. Tyrrell