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A PRACTICAL SYSTEM OF BOOK-KEEPING SINGLE AND DOUBLE ENTRY: , CONTADfINO FORMS OF BOOKS AND PRACTICAL EXERCISES, ADAPTED TO THE USE OF THE FARMER, MECHANIC, MERCHANT, AND PROFESSIONAL MAN. TO WHICH IS ADDED A ariety of Useful Forms for Practical Use, viz. : Notes, BUls, Drafts, i Hecepts, d-c, d-c. ; also, a Compendium nf Rules of Evidence Applieable to Books of ^s. Account, and of Law in Reference to the Collection of Promissory Notes dc. A LEVI S. FULTON AND GEO. W. EASTMAN. FOR THE USE OF SCHOOLS IN THE BRITISH-AMERICAN PROVINCES. pSs^ V JAMK^ CAMPBELI^ AND SON, MONTREAL AND TORONTO. MDCCCLmi. • ' 1 f? ■ .,.m'! Hf 5 ids " ' F/ 3^SfZ f •■■•, I CONTENTS. { Preface, Pkkfac?: to Second Edition,... Commercial Abbheviations,... PAGE 6—8 9 10 TART FIRST. Form for Farmers— Contain- ing Examples and Explana- tions of Accounta with Per- sons of different Pursuits 13 — 28 Practical Exorcises, 29—32 Form for Mechanics, 33 Definition of the Day- Book — Ledger — Alphabet or Index — Directions for Posting Books, 32 -34 Diiy-Book, 35—42 Index and Ledger, 43 — 53 Practical Exercises, &4— 58 Form for MERCHAirrs 59 Description of Day-Book — Petty Alphabet or Index to the Day-Book, and Method of preparing it — Journal and Directions for Journal- izing — Lodger — Alphabet or Index to the Ledger — Directions for Posting and Comparing Books, and for Correcting Errors 59 — 64 Day-Book, or Blotter, 65—72 Index to Day-Book 73—76 Journal, 76—36 Index to Ledger, 97—100 Ledger, 101—105 . " -■ " PAOB Practical Exercises, 106—110 Petty Cash-Book 111—116 Account Sikles, 117 Bill-Book 118—120 Account Current, 121 Baiik-Book, 122—123 Bill of Purchase, 124—125 BUI of Book Account, 127 PART SECOND. Double Entry, 130 Debtor and Creditor- Appli- cation of Debtor and Credi- tor — Classes of Accounts, ... 130 Books used, 131 Definition of Books — Day- Book — Journal — Ledger and Index 131—132 Auxiliary Books — Definition of, iic 132 Definition and Object of Ac- counts — Fictitious — Real and Personal, 133—134 Directions for Journalizing,.. 135 Directions for Paging 136 To the Pupil, 136 General Rule for Journalizing 137 Exercises in Journalizing,.. ,.137 — 138 Examples of Day-Book Entries Joumaliaed and Posted 139 — 142 Day-Book, 143—153 Journal, 155 — lOi Index to Ledger, 166—167 Ledger, 169—188 Directions for Trial Balance,. 139— 194 iV CONTENTS. PAOE I DirocUoTiB for Balance 8heet,195— 198 liivontory-Hiok 197—198 Invoico-Book 199—200 Salcs-n(K)k 201— 20S Practical Exorcises 204 FonM FOR RETAit.KRS — Direc- tions and Definitions of Books, 205—206 Day-Book 207—211 Memoranda for Day-Book.. ..212— 214 Index and Ledger, 215—229 Monthly Ciish-Book 230—232 Merchandise Book, 233—235 Expense Book, 236—237 PART THIRD. Books OF Account 239 BiLus OF ExcnAKOE, 239 Of the Requisites of a Bill,.., 240 Of the Obligations of Parties, 240 Of Transfer 241 Of Presentment for Accept- ance, 241 Of Acceptance, 241 Of Proceedings on Non-Ao- ccptancc, 242 Of Presentment for Payment 242 Of Proceedings on Non-Pay- ment 242 Of Payment and other Dis- charges, 242 Form of a Set of Bills of £x- ch.ingo, 243 Form of a Draft or loland Bill 243 PAOI PnOMlSBORT NOTFJI, m .' 243 Consideration. 245 Of Presentment for Payment, 245 Proceedings on Non-Payment 246 Of Payment, 246 Interest 246 Forms of Notes and Receipts, 246— 247 Chattel Noteh Forms of Chattel Notes, Receipts,. BoNns, Common Form of a Bond,.... Chattel Mohtoaoes , Form of Chattel Mortgage, .. Bill of Sale Common Bill of Sole,., Power of Attorney, General Form of Power of Attorney, Revocation of Power of At- torney, Deeds, Quit-Claim Deed, Warranty Deed,.. 247 260 Checks on Banks & Bankers, 260 Form, 260 UORTOAQB^«t* •!••••••■••••••• •»*««■•«• 251 252 252 262 263 253 263 254 264 264 255 265 256 S66 p ,i ' >'■ . •. > PREFACE. Book-keeping is a mercantile term, used to denote the method of keeping accounts of all kinds, in such a man- ner that a person may at any time know the true state of his afiPairs. Every person engaged in business for himself should keep a book of some kind in which to record all his business transactions. The day-labourer, the farmer, and the mechanic, should keep an account with every person with whom they deal. No one should trust transactions of a pecuniary nature to his memory alone. The merchant who is incompetent to keep a full and accurate record of his business transactions, or neglects to do it, must abandon all claims to the confidence which he might desire others to repose in him, all hope of success in the accumulation of property, and forego all peace of mind which he might otherwise enjoy in the prosecution of his business. Book-keeping should be more extensively taught in our schools. Among the many books already published on this subject, none are well adapted to, and very few, if any, are intended for, the use of common schools. Hence this important study is almost entirely neglected PREFACE. by those wlio attend such schools only, and pursued by but few who attend those of a higher grade. Many, indeed, think that the study of Book-keeping is useless, unless pursued in the counting-room, or in con- nexion with the actual business of buying and selling. This is a great mistake. Book-keeping is one of the most important branches of study that can be pursued by those of suitable age and attainments in our schools of every grade. It is a highly important branch of female education, and shoul be ranked next in the course of study, and next in importance, to reading, writing, and arithmetic. As well might a person postpone the study of arithmetic until he has occasion to cast the interest on a note, or to use a knowledge of figures for any other purpose, as to defer the study of Book-keeping till he has the cares of actual business on his mind. In fact, while the pupil is pursuing this study, he is apply- ing the principles of arithmetic in a most practical man- ner. He is gaining discipline of mind — as much, at least, as by any other study. He is learning to spell the names of a great many articles in commerce, which would not otherwise come under his notice. He is, or may be, improving his style of penmanship, especially when, as in this work, all the items, which he is required to copy, are printed in a beautiful script type. By taking such a view of the subject, we are led unhesitatingly to assert, that the school-room is the place to study Book-keeping ; and, with a suitable teacher and text-book, a thorough know- ledge of it can be obtained there. Such a text-book the Authors confidently believe they now submit to the public. The work is divided into three parts. Part First em- braces three forms, or methods of keeping accounts. PREFACE. adapted to the use of particular classes of individuals, and suited to the different capacities of students. After each form is a practical exercise, desi«5netl to test the learner's knowledge of the form he has just passed through, and which cannot fail to give as thorough and practical a knowledge of Book-keeping as could possibly be obtained in a counting-room. ' The following are some of the advantafi^es of the " Mer- chants* Form" over that generally used by them, where the Journal is a mere copy of the Day-Book or Blotter, and where each entry, or all those on the same page of the Journal, are separately posted. It saves more than one-third of the writing in jour- nalising. It saves at least three-fourths the labour in posting. It requires but twelve lines in the Ledger to post a year's business, while in the ordinary way as many pages may be necessary. In settling with a person at the end of a year, you have only to refer back to twelve places in the Journal to show him all the items of his account, whereas in the ordinary manner of keeping books you might have to refer to five hundred. Other advantages might be named, but these are deemed sufficient to mention here. Part Second contains a clear and comprehensive ex- position of the principles of Double Entry exemplified in two sets of books, the second of which is peculiarly adapted to a retail business ; and as double entry is the only method that can be relied on for accuracy, it is con- fidently believed that this form of books, when known, will be generally adopted by that class of merchants for whom it is designed. The Third Part was prepared by a member of the ^ar, and the authorities consulted, and from v/hicii the 8 PREFACE. rules here laid down were collected, (in addition to the reports of our Supremo Courts,) are Story's, Cliitty's, and Byle's elaborate and scientific treatises upon bills and notes. This part consists of rules of evidence and general rules (of law, in relation to bills of exchange, &c., together with a large number of forms useful to all classes of business men ; such as bonds, receipts, &c., &c. Rochester, January 185L .') PREFACE TO THE REVISED EDITION. In the revision of this a )rk, such alterations have been made as were necessary \o meet more fully the wants of both teacher and p j »il. Theso alterations are confined entirely to the a? r'angeme-t ot the materials of the book — so that the new edition may be used with the old, with- out creating confusion. In making these alterations, we have endeavoured to avoid the n '^^sslty of the pupil's turning pages for references, by having examples, expla- nations, and memoranda, as far as possible, on opposite pages ; — to increase the discipline it gives the student, by changing many of the examples from the script to the memoranda form, in order that, instead of merely copying, the pupil may be compelled to apply the principles ; — to aid both teacher and pupil in the prosecution of the study, by the insertion of a large number of questions in con- nexion with each form ; — to simplify some portions of the work, as the Trial Balance, Balance Sheet, &c. These, with other changes, are such as have been suggested by those who have made practical use of the book, and have tested both its virtues and faults. It is believed that these alterations and additions, together with the new type and style of script, will add greatly to the value and efficiency of the work, thereby insuring it a warm welcome among its patrons. Trot, 1868. COMMERCIAL ABBREVIATIONS. The following is a list of the abbreviations used in this work, and those commonly used in Book-keeping : — Acct Account. Agt Agent. Amt Amount. @ At, Aug August. Bal Balance. Bbl Barrel. Vf-U B. B Bill Book. . . Bk. B Bank Book. " ^ Blk Black. '< Bot Bought. B. P Bill of Parcels. Bro Broad. Brot Brought. Bush Bushel. !'"•.• ' C. B Cash Book. ' * Co Company. Com Commission . Cr Creditor. C. S. B Commission Sales Book Cts Cents. C wt. Hundredweight. Cap Capital. Dft Draft. Disct Discount. Do. or Ditto.The Same. Doz Dozen. Dr Debtor. Ds Days. D. B Day-Book. Dec December. E. E Errors Excepted. Exch Exchange. Gall Gallon. Qro Gross. , Hdkf. Handkerchief. Hhd Hogshead. I. B Invoice Book. Inst Instant. Int Interest. i. e That is. Ins Invt . . . Insurance. ...Inventory. Jan J. F ...January. ..Journal Folio. Lab Lbs Led. ...Labour. ...Pounds. ' . i'.^; •: ...Ledger. ,,,, Manufg. . Mdse Mos . . . Manufacturing. • , , , ...Merchandise. ...Months. *-• - ■■■'"- No N. B ...Number.^ ' ' ...Take Notice. jj Oz ...Ounce. , M : ' Payt Pd Per Pr Ps P. C. B. P. &L. P Prem ...Payment. ^ •> ...Paid. . . , ...By. ^•-■' ■■■:."■'] ...Pair. • ; i. :v f- ...Pieceg. ...Petty Cash Book. ...Profit and Loss. .,; ,. ...Page. ...Premium. '-'i's Qrs ...Quarters. '" '.. Reed Recvble. Rend R.R ...Received. ...Receivable. . . . Rendered. ...Railroad. S. B Shipt. ... Sks Sps ...Sales Book. ...Shipment. ' ...Skeins. ...Spools. Thd ...Thread. Ult. ...Last Month. Viz ...Namely. Yds Yr ...Yards. ...Year. ft this .l< if"''' , BOOK-KEEPIIG. U.t"i. PART FIRST. ,-.;l: ^ -^ ^ 1^ 5^ ^ ^ "^ \ ^ » •■ '' ' ' ■' ^ !? "^ ^ S^ '^ Tib 4 ^ ^ .---.^. ^O V V i>) il^^ 1^ ^4 « t ^ » » ^ ^1 12 .} +1:1 » i FORM FOR FARMERS. :■.•(, y,l This Form requires but one book, in which two pages oppo- site each other are appropriated for each individual account. The name of the person should be written in a bold hand at the top of the page, and the letters Dr. at the right of the name on the left-hand page, and Cr. at the right of the name on the right-hand page. Each page should be divided by perpendicular lines into five spaces, the first for the month, the second for the day of the month, the third for the items, the fourth and fifth for dollars and cents. Whenever you trust the person with anything, the date, name, and value of the thing should be placed on the left-hand or debit page ; and whenever he pays or trusts you with anything, the date, name, and value in dollars and cents should be placed on the right-hand or credit page of his account. For example, if, on the first of January 1848, you sell I. H. Jameson five bushels of wheat at one dollar and twenty-five cents a bushel, and on the fifteenth day of Feb- ruary following he pays you four dollars ; on the fourth day of March you sell him twelve pounds of butter at fifteen cents per pound, eighteen pounds of cheese at eight cents per pound, and ten bushels of oats at thirty-one cents per bushel ; and on the first day of May he pays you cash five dollars ; and on the tenth day of May, you wish to close the account, and so ask him for what he still owes you, and he 14 BOOK-KEEPING. Hf^ pays you the amount in cash, i.e., three dollars and fifty-nine cents — the entries would be as on page 12. All the accounts should be kept in the above manner, and on the first day of January, or of some other month, in each year, should be settled, and the book balanced. In settling with a person, if he pays you in cash, or gives you his note to balance his account, give him credit accordingly, as in the account of I. H. Jameson, on the pre- ceding page. If you pay him cash, or give him your note to balance, charge him accordingly. If the account is not balanced by cash paid, or note given, it should be done by giving the person credit, or charging him with enough to balance it. For instance, if you find that he is owing you, give him credit for the amount " By Balance," and charge the same to him in the new account. If, on the other hand, you find that you are owing him, make him debit for the amount " To Balance," and credit him with same in the new account. ■ :it:' : Ki'TU '-;■■ . ■■} ', .,» '■■ • •• ;••■.•■ V'.t '\. .» i; ;Wj ''■-;'.•■■* f^iy..' '■'. \. •\\.' ' • '. ' ' ■ ■ ^ ■ ■ ' r ■\ \ .'^"- * ■:,.y. ■ ^'J.'; %- ' ': ■ QUESTIONS. ' '< 1 . ^ ' '■ :• t What is this form called ? How many pages are used for each ac- count ? Why should the pages be opposite ? How should each account be headed ? At which side of the name should the letters, Br. and Cr., be placed ? Into how many spaces should each page be divided ? For what is the first space used ? the second ? the third ? the fourth ? the fifth ? Whenever you trust the person with anything, on which page do you place it ? If the person trust you, on which page ? What three things must be put down in each entry ? When should accounts be settled ? What is meant by the terms " balance " — " balancing an account ?" If the account is not balanced by cash, or a note, how do you balance it ? If you credit the person with the balance, on which page of the new account do you make the entry ? If you debit bim, on which page ? BOOK-KEEPING. 15 EXAMPLES FOR PRACTICE Rule a sheet of paper as directed, and enter the following accounts in the same manner as that of I. H. Jameson. Example I. On the first day of January 1861, you sell Daniel White ten bushels of wheat at one dollar and ten cents a bushel — three bushels of potatoes at eighty cents a bushel — on the fourth day of February, he pays you ten dollars — on the fifth day of March, he sells you two dozen eggs at eighteen cents a dozen — on the eighth day of April, you sell him six pounds of butter at twenty cents a pound — and on the first day of June, he pays you four dollars and twenty-four cents to balance the account. Example II. On the second day of June 1861, you sell George Johnson a horse for one hundred and fifty dollars — on the sixth day of June, he sells you a cow for sixty dollars — on the eighth day of June, he sells you twenty bushels of oats at forty cents a bushel — on the ninth day of June, you sell him forty pounds of wool at forty-five cents a pound — on the first day of August, he gives you his note at six mouths for one huudi'ed dollars to balance the account. . 1 I« BOOE-EEEPINa INDEX. The Index is sometimes a separate book, but it usually is placed in the front part of the Account-Book. Several pages are divided into spaces, as on the opposite page ; each space is marked by a letter. The Index is used to enable us to refer the more readily to accounts in the book. For example, we enter the account of A. I. Hovey on the first page of the book. We look in the Index for the space marked by the letter H., the initial of his name, and enter his name and the number of the page. Whenever we enter any account in the book, we enter the name and number of page in the space of the Index marked by the initial of the name. In order to refer to any account, we turn to the Index, and the space marked with the initial of the name, and there find the page on which is the account, to which we can then at once turn. Sometimes, instead of one page being divided into spaces, each letter has a separate page. If the account should be transferred to another page, the number of the new page must also be placed in the Index by the name. After the learner has thoroughly studied the foregoing principles, let him prepare paper and enter the following accounts, that are explained. Let the paper be ruled with care — the writing distinct — the figures correctly made, and the balancing lines drawn perfectly straight INDEX TO FARMER'S FORM. O B C (oaiyi/' .^-:| J9.00 /.SO yo ys .jSS ./3 MJL /<^ 00 /6 00 £ I SO CO ^0 7^ 00 '/J 04 2~4 / 32 y^ ^3 The foregoing account is with a merchant. On the left-hand page he ia debited with everything you have let him have, and on the right- hand page he ia credited for everything you have purchaaed of him. On the 31st day of December 1848, you wish to settle this account, which is done in the following manner. In the first place you add the sums in the money columns of the debit side of the account, and find they amount to forty-six dollars and fifty-nine cents, which is the sum total of all that you have let him have. You next add the sums in the money columns of the credit Bide, and find they amount to seventy-eight dollars and eighty-three cents, which is the value of all the articles you have purchas^ of him. 18 .,M>J J. 0/U€/U, /S4^' c/a/t. 6 t^ DU. •4 / ** ^ K^tca// ■4 ^ ^ ^y,/. /•^ 0c/. /d- Mc. 4 ^ c/iino'tnJ ■/ „ //nn»n c/'C '/uon K^iu / „ v^a< „ -/O „ fOo//ee ,60 ./^ ./J 2.CC .0^ ■•7^ 3 2 ■/ 6 a/ / / /4 /c? 00 ao CO OCT /^ /a 3/ CO 40 60 <9/ /^ 60 SO of the ars and et him e credit ty-three of him. You then subtract the forty-six dollars and fifty-nine cents, the amount you have let him have, from the seventy-eight dollars and eighty-three cents, the amount purchased of him, and find the difference to be thirty -two dollars and twenty-four cents, which is the amount you owe him. You then pay him this account, and enter it on the debit side of his account, " To Cash to Balance." The debit and credit sides will now foot alike. You next draw single lines opposite each other under these columns, and after adding and placing the amount under them, you draw double lines to signify that the two sides are balanced and clotJftri, 19 s fa. a^^ncd r^a^id. 7 Wl /<^4^ 1-. . van. /3 J^S £^u4/!. W^f.a/ ¥,/3 6 ^0 M 30 / *^n ayoerf/ ^ 6' 00 ^^fti. J, « 36^ /ificej 4 '/3 MEMORANDA OF THE ABOVE ACCOUNT, Jan. 4tb, 1848. Bo't of J. Rogers, 1 pr. fine sewed boots, at *.6.00. 15th. Sold him 6 bushels of wheat, at $1.12. 29th. Sold him a ton of hay, at $8.00. Feb. 12th. Bo't of him 1 pr. of stoga boots for James, at $2.50 ; and 2 pr.?. of boots for boys, $1.75. Mar. 4th. Sold him 36 lbs. of ham, at $.07. 27th. He mended boots for James, $.75. 31st. Bo't of him 1 pr. woman's boots for Julia, $1.60. April 14th. Sold him 8 bushels of oats, at $.38. 27th. Sold him 1 cord of wood, at $1.50. May Ist. Sold him 8 lbs. of butter, at $ 15. June 19th. Bo't of him 1 pr. morocco shoes, at $1.25. 30th. Sold him 5 bushels of potatoes, at $ 38. July 8th. He mended shoes, $1.13. 24th, Bo't of him 1 pr. gaiter boots, $2.00. Aug. 16. Sold him 6 doz. eggs, at $.10. Oct. 9th, Bo't 1 pr. of fine boots for James, at $4.00, 28th, Sold him 32 lbs, of cheese, at $,07. Nov. 13th, Bo't of him 1 pr. fine brogans, at $2.00. Dec, 20th. Sold him one hide, 78 lbs., $,05. 25th. Bo't of him 1 pr, pumps for James, $1.75, SiO \ f. a77ifd oa^M. ^a %' W^^' i -: :=! Vtfu. 4 <^]y / g\. &,'ne J^^.r/c^'^^/^ 6- CO DU. /J M \ ^ so 0» /« t0 J" 60 tyf6ai. 3y M iyftfH(if/ia c/joo/j /oi c/e/»iej 7S »» 3/ M / <^i. oComat/J cJ'joo/j /(U c/u/ttt / <:o c/'tnf /() »0 / ^ tyiCatacca nj/tuej / 2S c/it/'/. 6' M t^t(:r)if/fi>^ / /3 // .24 »^ / ^]. '^M4'/ci ^ao/4 , s 00 €r/. J? S0 / „ ij"f}ie cMo-o/j ^(i'l c/anu4 4 CO jv:.u. /J M 2 / CO £^cc. 23 ** 7^ m JO *0 • 4 '/2 30 so I On comparing this memoranda with the entries in the account above, you will find that whenever I sold J. Rogers any article, I made an entry on the debit side — as in the item, 5 bush, of wheat — placing iu the first space the month — in the second, the day of the month — in the third the word " To," followed by the name of the articles, carrying out into the fourth and fifth, the total cost. On the other hand, when- ever I bought anything of him, I made the entry on the other page— observing the same order. On Dec. 30th, I wished to balance this acc't. To do this, I add up the column on the debit page, and find that it amounts to $30.50. I then add up the cokunn on the credit page, which amounts to $26.38. I then subtract the amount of credit from the amount of the debit column, and the remainder .shov/s that he still owes me $i 12. I then make the entry, " Dec. 30th, By balance $4.12;" and draw the lines, which denote that the account is balanced. I then open a new account, either on a new page, or, as in this case, on the same page, and make as the first entry — *' Dec. 30th. To balance $4.12." I charge him with $4.12 in the new account, because that is the amount I give him credit for in the old account, in order to balance it. ■5 21 I ^«y// .%,/rl. -o /S'.',^ 4 3 3 / CO ^0 ^ „ « ^n,l^ 2'^ CO Cc/. k/\ CfV. /4. CO CO CO der. 00 6^ . J3 ^oi^j Wcof/ S.OO / 4 CO CO m .?o „ ^)U xJVu/e a/ ^>if>n//iJ /o cMff/'niff ^7 ^0 ^ J^S MEMORANDA OF ABOVE ACCOUNT. 184S. Jan. 22(1. Bo't of Dwight Foster 1 brass i)latecl harness, f 30.00. Mar. 4tb. Sold him .3 yds. of gray cloth, at $.75. April 2Sth. I worked for him 2 days, with team, at $1.50 per day. Same date. Bo't of him 1 pr. of breast straps at $1, and 2 hame straps at $.25 a piece. June 8th. He repaired my harness, $2.00. Aug. 5th. I sold him 5 lbs. fine wool, $.38, and paid him $25 in cash. Aug. 19th. Bo't of him saddle, bridle, and martingals, $16. Oct. 16th. Bo't of him 1 pr. of collars, $4.00, and 1 pr. of halters, $1.75. Nov. 11th. Sold him 4 bushels of com in the ear at $.25 per bushel, and 1 load of straw, $1. Nov. 30th. Bo't of him 1 leather trunk for James, $8.00. Dec. 8th. Sold him 2 cords of wood at $2 per cord. 22 M.y// (fo^/rt. ■/^4^ c/sr>/. J2,'3 .j:^/. JS^ c/tfpte <$ .Mv. 30 * ^:: ' r » / „ crwattfid 30 f<2^ /&4^' lyfCau / m ^ ^0 *» c^/^ 7 Ji/J. /s ^^4^ ^6 at. ^7 m »» „ 3 £6 J. ^ayj^ ^.00 i9 . / ^.CO J^tf/riDif^ ana fbaucitn^ '7r'7 V S Md. J£a(f. ^6ai/c/t)>j^ ^.00 c^ip/ti an (une tS^cie oj: ^c/a/oetJ s 00 4 60 S CO / 60 2 00 / 60 6 00 ^ CO ^& 60 //J CO '■L MEMORANDA OF THE ABOVE ACCOUNT. 1848. May Ist. Oue day's labour ploughing and harrowing of potato field, $2.00. 2d. Bo't 12 bushels of potatoes for seed, at $.37^. Same day, two days' labour planting the field, at f 1. June 20th. Oue day's labour ploughing, $1.50 ; also, two days' labour, hoeing, at $1. July 7th. One day's labour ploughing, $1.50. Sept. 15th, Digging and cover- ing potatoes, $5.00 ; also, sold 12 bushels of potatoes, for cash, at $.25 per bushel ; also, sold 25 bushels of small potatoes at $.20 per bush* 1849. Mar. 17)h. Paid for 3 days' labour, marketing, at $2 per day'; also, received cash fur 300 bushels potatoes at $.35 per bushel. Besides accounts with persons, the farmer finds it not only conven- ient but useful to keep accounts with his different fields and depart- ments of labour, in order to know, accurately, the yearly gains. The above account is one kept to ascertain the profit on a potato-field for one year. It is headed "Potato -field, One Acre Lot." It is made debtor to the labour of preparing and cultivating the ground, to the cost %i ^/«/«-/^//f (^>u ^U S^cJ. fl-. 00 50 CO 60 CO 50 CO CO 50 CO /^4'S ^/ -/5 c^y ^aj^/ui '/O ^,,.^/ ^o/a/o€j ,25 a CO *> /* „ 25 M^a^/I. ^'ma// J^l/a/oe^ .20 5 CO y^4^ <^6ai. ^7 „ ^a^^ /oi 300 ^m/i. ^a/a/ccJ .35 ' /C5 i CO ■ ^^ I " //o" GO ! lay ; of the seed, to digging and covering the crop, and the cost of market- ing. It is credited with the receipts for the crop. By adding up the columns, as in foregoing account, and siubtracting the less from the greater, we find that the receipts excee.l the expenses $88.50, wliioh ia then entered on the debtor side, as "March 17th, To profit on 1 acre of potatoes, $88.50," in order to balance and close the account. By pursuing this method with all his fields, the farmer may determine with accuracy the whole profit arising from the cultivation of his farm. The for ade ;ost QUESTIONS. What is the Index ? In what part of the book is it placed ? Is it ever a separate book ? Describe its ruling and use. How would you enter A. I. Hovey's account in Index ? How does the Inrqfit. {Corn-field account.) 1848. May Ist. Manured 5 acres, at $2 per acre. May 3d. 3 days ploughing, at $2 per day. May 4th. 1 day's harrowing, $2. May 5th. 1^ day's furrowing, at $1.50 per day. May 6th. f bushel of seed corn, at $1 per bl. ; and four days' planting, at $.75 per day. June 6tii. Cultivated 4 days, $1.50 per day, and hoed 5 days, $.75 per day. July 8th. Ploughed 3 days, $1.50 per day, and hoed 5 days, $.75 per day. Sept. 5th. 4 days' cutting up the corn, $.75 per day. Nov. 1st. 16 days' husking, $.75 per day, and 2 days' drawing in, at $2.00.J/T!^ov. 1st. Stored for home use b'i bushels ears soft corn, at $.12^, and 103 bushels hard corn, at $.25 ; also corn-stalks, $10. Nov. 2d. Sold 2 loads of pumpkins, at $.75 per load, and reserved 6 loads for home use, at $.50 ])er load. Dec. 14th. 3 days' threshing and cleaning corn, at $.75 per day ; also 2 days' marketing, at $2 per day. Dec. 14th. Sold 140 bushels shelled corn, at $.50 per bushel. Dec. 15th. Interest on 5 acres at $50, at 7 per cent. = $250 x .07 = $17.50. If the above memoranda he properly entered, the account will be balanced by making the following entry ; " Dec. IGth. To profit on crop, 147.50." Memoranda of Expenditures and Receipts in cultivating 10 acres of tvhcat kept to ascertain profit. ( Wheat-field account.) 1848. June 10th. Ploughed 7 days, at $2. June 19th. Harrowed 2 days, at $2. Sept. 6th. Worked 6 days cultivating, at $2 ; also, sowed 17| bushels seedwhoat, at $1.25 ; also, worked 1 day at sowing, at $1.00, and 2 days furrowing tmiX dlLlShing, at $2. 1849. Aug. 9th. Harvested 10 acres at $1.50 per acre. Aug. 15th. Drew the wheat into thfe barn, $6. Sept. 28th. Threshed 200 bushels, at $.07 pr. bush. Oct. 5th. Took 16 bushels for family use, at $1 00 per bl, and sold 85 bushels, at $1.06. Oct. 15th. Marketed 200 bushels, at $.03 per bl, sold 100 bushels, at $1.00 ; allowed for wear of implements, $2.00 ; also interest on 10 acres, at $50, at 7 per cent. = $500 x .07 = $35. BOOK-KEEPING. 29 If the foregoing memoranda be properly entered, the account will be balanced by making the following entry : " Oct 16th. To profit on 10 acres of wheat, $70.22." PEACTICAL EXERCISES. y- • farmers' form. • The learner having carefully studied and practised upon the preceding accounts, may now enter in his blank-book the memoranda on the following pages, being careful to write distinctly, and to make all the letters and lines correctly, avoiding mistakes. In these memoranda the names are not given, but the occupation, as merchant, blacksmith, shoe- maker, tailoi*, ttc. The learner may substitute for these the names of persons with whom he is acquainted following these occupations. The price per yard, ounce, pound, ton, day, month, pair, piece, »fec,, is given, leaving the amount to be o .ended by the learner. He may also substitute the abbre- viations, wherever they can be, ia place of the whole word. The accounts to be opened in this set are with a merchant, shoemaker, blacksmith, tailor, harness-maker, hired man, neighbour, corn-field, and wheat-field; and if the transactions are properly disposed of, the balances will show that I am indebted as follows : To the shoemaker, $8.20 ; the hired man, $82.31 ; the harness-maker, $19.00 ; the blacksmith, $9.00; the merchant, $5.25. The tailor owes me $11.09; my neighbour owes me $1^5. Profit on 10 acres .of corn, $85.83 ; do. on 15 acres of wheat, $185.08. The foregoing principles are sufficient to enable any far- mer to keep accurate accounts — ascertaining what crops, «fcc., are the most profitable. It is the usual custom to keep the cash account in a separate book, called the Cash-book. A full explanation of that book is given in another part of this volume. I rff •"> SO BOOK-KEEPING. MEMORANDUM FOR 1850. JANUAUr. 6th. Sold the tailor 2 cords of wood, at $2.12^. Bought of the shoemaker 2 pair of Btoga boots, at $2.50. 14th. Bought of the tailor 1 pair of pantaloons for iny hired man, at $6.00. 1 5th. Sold the shoe- maker 3 cords of maple wood, at $2.00, and bought of him 1 pair of woman's boots, at $1.50. 19th. The tailor has cut a pair of panta- loons for me, at 25c., and a coat at 50c. 28th. Sold the harness-maker 1 ton of hay at $8.00, and bought of him 1 single hikuess at $20.00. FEBRUARY. ' 9th. Drew wood for my neighbour to-day with my team, at $1.60. 16th. Bought of the shoemaker 2 pair of children's shoes, at 75c., and had a pair mended, at 25c». 20th. Paid my hired man, cash, $5.00. 23d, Sold the shoemaker half a ton of hay, at $7.00^ and half a bushel of beans, at $1.00.,'-i25th. My hired man has lost 2 days' time, at 50c. 28th. The tailor has" made a vest for me, at $1.50. MARCH. ■ 9tlv Worked for the blacksmith 1^ days with my team, at $1.50. 16th. The blacksmith mended my hay-knife, at 25c. Bought of the merchant 30 yards of Brown Factory, afc lOt, and half a dozen spools of white thread, at 62c. 23d. Bought 1 lb. Young Hyson tea, at 75c., and sold him 1 j tons of hay, at $8.00. 25th. Sold the harness-maker 25 bundles of rye straw, at 4c., and he has repaired my harness, at $4.00. APRIL. 6th. Sold the blacksmith 9 pounds of butter, at 14c. 15th. My neighbour has ploughed for me 1 day with his team, at $1.50. The jlacksniith has ironed my whippletrees, at $1.25, and sharpened my colter, at 12c. 18th. Sold the blacksmith 6 bushels of potatoes, aifiific. 23d. The shoemaker has tapped my boots, at 50c. \ MAT. I 1st. Bought of the blacksmith 1 large device, at $1.13, and ploughed the shoemaker's garden, at $1.00. ^JL. Finished ploughing corn-field to-day, 7 days, with team, at $2.00. 5^. Planted corn 1 day for my neighbour, at 75c. 7th. Sold the tailor 4 bushels of potatoes, at 31c., and 5 lbs. of butter, at 12^c. Laboured 2 days harrowing corn-field,»^ at $2.00, and 2 days furrowing Vorn-field, at $1.50. ^. Planted in »5orn-field 2 bushels of seed corn, at $1.00, and finished planting corn- field, 8 days, at $1.00. 14th. My neighbour let me have 25 bushels of potatoes, at 30c. 15th. Bought of the merchant 3 yards of black cassimere, at $1.50, 25 lbs. of sugar, at 9c., 1 lb. of Young Hyson tea, at 75c. ; and sold him 15 lbs. of butter, at 124c., and 9 dozen of eggs, at 10c. 31st. Bought of the harness-maker 1 saddle, at $14.00, and paid him cash $10.00. $■ BOOK-KEEPING. n JUNE, 1st. Bought of the shoemaker 2 pair of morocco buskins, at $1.25. t. My neighbour has hoed corn for rae, 3 days, at 75c. SK. Culti- ed corn-field 8 days, with horse, at $1.50, and finished hoeing corn- field, 12 days, at $1.00. 9th. Blacksmith has repaired my waggon, at $3.25, and shod 2 horses, at $1.00. 15. Bought of the shoemaker 1 pair of gaiter boots, at $2.25. 21st. Sold the blacksmith 12 lbs. of butter, at 12jC. 22d. Finished ploughing wheatfield, 15 acres, 10 days, at $2.00. 25th. Sold the merchant 15 bushels of oats, at 30c., and gave my hired man an order on him for goods, $18.50, 26th, Finished harrowing wheat-field, 3 days, at $2.00, JULY. 1st. Sold the merchant 8 lbs. of butter, at 12ic., and bought of him 1 lb. of Young Hyson tea, at 75c., 2 gallons of molasses, at 44c., and 10 yards of calico, at 12^c. 2d. Bought of the shoemaker 1 pair of fine boots" for my hired Juan, at $4.50. 4th. Paid my hired man cash on account, .$10.00. Sua. Finished ploughing corn-field, 5 days, at $1.50. 15th. BoughUof th« blacksmith one hay-rake, at $8, and he has mended my pitchfork, ""at 13c. 24th. Drew hay with team for my neighbour, 1 day, at $1.50. 25th. Sold the blacksmith hatf ton of hay, at $5.00, 81st, Sold the blacksmith 1 ton of hay, at $G.00. AUGUST. 3d. The blacksmith has set my waggon tire, at $1.25, and made a linchpin, at 13c. Sold the merchant 2 tons of hay, at $6.00. 24tli. Paid the shoemaker cash, on account, $5.00, and sold him a calf skin weighing 10^ pounds, at lOo, SEPTEMBER. 2d. Bought of the blacksmith 1 pair of small device, at $1.25, and he has set 1 shoe, at 12c. 4th. Bought of the merchant 15 lbs. of nails, at 6c., and sold him 4 bushels of apples, at 2oc., and 5 lbs. of butter, ali^4c. "Hh. Sold my neighbour 8 bushels of seed wheat, at $1.25. ijl^ji. Finished cutting up corn in corn-field, 9 days, at $1.00, La- Iroured with team on wheat-field, cultivating, 10 days, at $2.00. Sowed 26lbushel8 of seed wheat, at $1.25. Labour, furrowing and ditching, $5.00. Two days' labour sowing, at $1.00. 18th. Sold the blackamith one cord of wood, at $2.00. m •1 OCTOBER. Bi^. Sold the merchant 12 bushels of corn, at 50c., and bought of him a bill of goods amounting to $1 5.94. The blacksmith has ironed a lumber waggon for me, at $22.00, and made a neck yoke, at .$1.25. My neighbour lias threshed for me two days, at 75c. Pastured the shoe- maker's cow six weeks, at 25c., and bought of him two pairs of boys' boots, at $2.00. 12th. Sold my hired man 2J yards of gray cloth, at 75c. 17th. Threshed for my neighbour two days, at 75c. 18th. Sold the tailor 36 lbs. of pork, at 8c. 19th, The tailojr has made a pair of pantaloons for my hired man, at $1.00. .4,V. 32 r BOOK-KEEPING. NOVEMBEU, / / xl. Measured out of the products of my corn-field, for home use, 74 bushels of ears of sfift corn, at 13c. ; 315 bushels of ears of sound corn, at 25c. ; corn-stalks, $25.00,- pumpkins, at $o.00i 8th. Sold the black- smith 2 bushels of turnips, at 25c. ^i. Lahouned in corn-field, husk- ing, forty days, at .^1.00 ; five days with team, drawing in, at $2.00. 13th. Bought of the merchant 1 umbrella, at $1.50, 5 pounds of coffee, at 14c., and 10 jujunds of cotton batting, at 10c. ; and sold him 15 bushels of potatoes, at 25c., anSpO bushels eais of corn, from coru-field, at 25c. 15th. Bought of neif^inour one barrel of salt, at $1.25. 22d. The blacksmith has' shod for me onapair of horses, at $2.00. Sold the tailor half a ton of hay, at .$8.00. With. Sold the blacksmith 12 bushels of ears of corn, from corn-field, at 25c. SiMi, Sold the tailor thvee bushels of wheat, at $1.25. Paid my hired man cash, $8.00. Bought of the shoemaker oue pair of fine boots, at $4.50. BECKMBER. 2d. Sold the blacksmith five barrels of cider, at $1.25. 5th. Bought of blacksmith 28 lbs. of gate hinges, at 12c. 7th, Sold the shoemaker one cord of wood, at $2.25, 11th. S<>ld the tailor 6 yards of gray cloth, at 56c., and 14 lbs. of lard, at 7c. IJv^- Laboured threshing corn, from corn-field, seven days, at $1.00. l^n. Received cash for 100 bushels of corn, at 50c. 18th. Bought of the merchant 2^ yards of cassimere for my hired man, at $1.25, and 8 lbs. of crushed sugar for myself, at 13c. Sold him two cords of body maple wood, at $2,50. .Tiie blacksmith has sharpened and set 6 shoes on my horse.s, at 12. \c. The tailor has cut for me two pairs of pantaloons, at 25c., and one vest at 250. Bought of the shoemaker one pair of stoga boots for my hired man, at $2.50. Sold the blacksmith 4 cords of wood, at $2.25, and 8 bushels of oats, at 31c. 25th. Bought of the merchant 2 gallons of molasses, at 44c,, 5 lbs. of raisins, at 13c., and 5 pounds of rice, at 6c. 39fti. Received cash for 80 bushels of corn, at 56c, ^st. Received casli for 52 bushels of corn, at 5Gc. MJ|(l-keting 232 bushels of corn, at 3c. My hired, man. has worked for me 8 mouths at $13.00, and 4 months at $10.00. on corn-field land, 10 acres, at $50.00 per acre, at 7 per cent. To close the account with wheat-field, it will be necessary to trespass a little on the year 1851. '' August 13th. Harvesting 15 acres, at $1.25. 24th, Drawing it into the barn, $10.00. October 19th. Threshing 346 bushels of wheat, at 7c. Reserved 46 bushels for home use, at $1.00. 26th. Sold, for cash, 85 bushels of wheat, .at $1.25. November 15th. Sold, for cash, 100 bushels of wheat, at $1.13. 18th. Sold, for cash, 80 bushels of wheat, at $1.06. 22d. Sold, for cash, 35 bushels of wheat, at $1.00. Market- ing 300 bushels of wheat, at 3c. Interest on 15 acres of land, at $50.00 per acre, at 7 per cent. M ii » .i I .V- ■I > •' » i.- FORM FOR MECHANICS. it into [eat, at Ir cash, (h, 100 |wbeat, Jarket- ISoO.OO The books necessary in this form are the Day-book and Ledger. The cash account may be kept in a separate book — forming a Cash-book, or not, at the option of the book- keeper. The accounts might be kept, as in the Farmers' form, in one boolc, — i.e., the Ledger ; only, it would not be as con- venient, for the mechanic is constantly called away from his business to attend to the wants of his customers. And, besides, having many more accounts and entries to make than the farmer, these accounts are of a different nature, such as cannot be remembered till evening, as those of the farmer. Hence it is necessary that the mechanic should use a book, in which he can make a full record of the tran- sactions as they occur, and then at his leisure, he c^n arrange the various entries in their respective accounts in the Ledfjrer. ' ^ The Day-book is a book in which all business transactions should be recorded at the time and in the order in which they occur. It is divided by perpendicular lines into seven spaces. The month occupies thp first space ; the day of the month, the second ; the name of the person and the tran- saction, the third; tjbre value of the items, in dollars and cents, the fourth ai^d fifth : and their sum total, the sixth and seventh. If, for example, on the first day of January 1848, you c 34 BOOK-KEEPING. i sell Benjamin Hamilton the following articles : — One brass- plated single harness for thirty dollars, one pair of halters for one dollar and seventy-five cents, and one riding-bridle for one dollar and fifty cents, — your Day-book entry would be as follows : — £./..,, / /jc»jamtn crwamtr/o'n 30 CO / 7^ 1 CO S.3 S6 If you had purchased the same articles of Hamilton, all the difference in the entries would have been this : after the name on the first line, in the place of Dr. you should have written Or.; and on the next line, in the place of To you should have written By, Whenever it is necessary to repeat the date, or the word To or By, it may be done by placing two dots (thus, h) under the date or word to be repeated. One line should be left between every two entries. QUESTIONS. What is this form ? How many booka are needed in this form ? Xame them. Is a Cash-book needed ? Could the accounts be kept in one book ? Why, then, do they use two ? What is the Day-book for ? When and how should the transactions be entered ? Into how many spaces is the book divided ? For what is the first space used ? the second, third, fourth, fifth, sixth, seventh? Explain the example given ? What difference would have occurred in the entries, if you had purchased the articles of him ? Instead of repeating date, what may you write ? Instead of repeating the words To and By, what may you write ? How much space should you leave between each entry? 11 M I)AY-BOOK MECHANICS' FO RM. I I ll ^Zyuoyndj (£r€tAu€i^ti/^ ^a^t. ^d/^ '/oJ^o. <7att. ^ 7 ^ /c %f/a / %Jt/ ^ouC/e cnoaknedJ ^^ai'/fj 9'€'ai/'oi{/ Mi. J/7/ ,^. ^ ^i^j^/e ^aine^^ 2^ / OC 75 CO 50 /& / ^ ^ ^. ^a//ai4 3.50 <, / , K^ad 00 7^ <9S 00 7^ ^^ 7 00 00 7^ S6 ^/ ,35 / 3 6' '7 /5 30 ^(J* 7' 00 50 50 63 7^ 00 00 00 36 BOOK-KEEPING. 87 Let the pupil rule some paper and enter the following- memoranda, according to directions ; when he has become proficient in making the entries, he may enter them in his Day-book. * , . MEMORANDA. Lyons, 1848, Saturday, Jan. Ist. Sold Isaac H. Jameson 1 set of double harness, $26, and 1 pair of baiters, §1.75. 3d. Sold Henry B. Holbrook 1 silver-plated single harness, $35. 4t,h. Sold Daniel W. Potter 1 pair of breast straps, $1, and 2 hame straps, at 25c. 5th. Charles D. Campbell, 1 pair of collars, $3.50 ; also, sold Franklin S. Clark 4 bridles, at $1.25, 1 pair of martingala, 75c., and 1 halter, 88o. 7th. Sold Sylvester N. Nurse 1 set of single tug harness, $16, and 1 breast collar, $1.75 ; also, sold Bela Dunbar 1 saddle, $15. 8th. Sold Charles Harford 1 brass-plated single harness, $30. 10th. Sold Jamca S. Hawkins 1 set single tug harness, $10, 2 pair of collars, at $3.50, 1 pair of halters, $1.75, and 1 pair of tugs, $3.25. The pupil will please notice, carefully, each abbreviation, and the position of each entry on the opposite page. The entries should be so made, that if a straight line should be drawn down the page it would pass through the initial of each name, another through the word '* To," another through the word " Dr." Attention to these particulars will insure that neatness and precision which are absolutely necessary in book-keeping. I' 'A n I I Ml .,r-Zyii€t/yidj Me€in€ridU 111 I 1311 4 I 13 Trrr ! li 40 BOOK-KEEPING. I ifl I ) .1^ r r ,1 From the preceding explanations the pupil will be able to enter the following memoranda in his Day-book. Let them be entered in immediate connexion with the memo- randa on preceding pages, of which they are a continuation. Let the teacher, in examining the entries made by the pupil, notice every mistake, either in entering the memo- randa, or in -writing, or in figures. He should insist upon the columns of figures being so placed that figures of the same oi'der shall come under each other. ■. , .. MEMORANDA. 1848. Jan. 25th. Cleaned harness for Henry B. Holbrook, $2.50; repaired it, $1.88 ; sold him 1 halter, 87c. Also, sold Timothy N. Foster set silver-plated harness, f 42, saddle and bridle, $23, and pair halters, $1,50. 26th. Repaired harness for Sylvester N". Nurse, $2.38 ; also, covered tho dash of hia buggy, $3.50. Same day bought of Franklin S. Clark 1 wash-tub, $1.13, and 3 patent pails, at 31c. Also, sold Timothy G. Baldwin 1 set long tug harness, $26. Aaron B. Pat- terson has paid me cash on account, $10. 29th. Bought of Daniel V»,' Potter 19 lbs. veal, at 4c. 31st. Sold Charles D. Campbell 1 bra":!*- plated single harness, $30. Also, sold \Vm. Gridley 1 pair martir_,;ils, 75c., 3 hame straps, at 13c,, and 1 bum strap, 30c. -vAlso, repiiitJ harness for I. H. Jameson, $1, and sold him 1 pair tugs, $3, and 1 paii tugs, $2. VAlso, sold Tames S. Hawkins 1 brass-plated gig harness, and repaired harness, $2.75. Also, sold James H. Gillet 1 saddle, 1 bridle, $1.50, 1 pair martingals, $1, and 1 halter, $1. February 1st. Sold Henry Woodward 1 pair fine boots for self, $4. Also, Bela Dun- bar 1 pair boots for hired man, $2.50, and 1 pair buskins for wife, $1.2i», Also, sold Aaron B. Patterson 1 pair kip boots for George, $3.25, and repaired boy's boots, 13c. 3d. Sold Hiram Hawley 1 pair shoes, $1.50, 1 pair children's shoes, 75c., and 1 pair small children's shoes, ,')0c. 4th. Footed fine boots for Timothy N. Foster, $3. -/Also, tapped .icd patched boots for Sylvester N. Nurse, 50c., menc^d shoes, 13c., and sold him pair of shoes for wife, $1.50. 5th. Sold Charles Harford 2 pair small shoes, at 50c. Also, mended boots for Andrew C. Mynderse, 38c. 7th. Bought of Timothy 0. Baldwin 12 lbs. butter, 13c. lOth. BOOK-KEEPING. 41 I Sold Clark N. Fulton 1 pair gaiter boots, $2. 11th. Sold Henry B. Holbrook 1 pair fine boots, $5.50, and 1 pair boy's ditto, $1.75.^ 14th. Sold Horace 0. Bigelow 1 pair buskins for wife, $1.25. 15th. Sold William Gridley 1 pair stoga boots, ^2.50, and 1 pair women's shoes, $1, 17th. Sold Cornelius 0. Rumsey 2 pair stoga boots, at $2.50. 18th, Bought of Horatio N. Short 1 bbl, of flour, $7. Also, sold Frank- lin S. Clark 1 pair pumps, .$1.75. 21st. Sold John Lynd 3 pair buskins, at $1.25. 22d. Sold James S. Hawkins 6 pairs stoga boots, at $2.50. 25th. Sold Daniel W. Potter 1 pair fine boots for Eddy, $5.50. Same day, bought of him 27 lbs. pork, at 9c. 26th. Charles Harford has paid me cash $25. 28th. Isaac H. Jameson, 1 pair gaitens for wife, $2, and footed fine boots, $3.50)\ 29th. Sold Henry Woodward 1 pairpru- nelle shoes, $1.50, 1 pair small shoes, 75c., and mended shoe.s, 38c. March 1st. Shod horses for Daniel W. Potter, $2. 2cl. Sold William Gridley 13 lbs. gate hinges, at 13c., and 4 lbs. bolts, at 14c. / Same day, sold Sylvester N. Nurse 3 linch pins, 12c., repaired waggon for him, 50c., set waggon tire, 50c., and ironed neck yoke,$l. 3d. Mended chain for Henry B. Holbrook, 13c., and sharpened 2 shoes, 31c. Also, sharpened colter for Horatio N. Short, 13c. Also, sold James S. Haw- kins 1 large clevis, $1.13, 1 pair small clevises, $1.25, and ironed whip- pletrees, $3. 4th. Shod horse for Andrew C. Mynderse, $1. 6th. Sold Charles Harford 1 linch pin, 12c., 1 hook and staple, 13c., mended shovel, 13c., and set 2 shoes, 31c. 8th. Repaired waggon for Wood- ward, $3. 9th. Mended log chain for Bela Dunbar, 19c., and shod his horse, $1. lOth. Sold Isaac H. Jameson 17 lbs. gate hinges, at 13c., and shod his horse, $1.< 13th. Repaired sulkey for John Lynd, $3.50. Also, bought of Henry Woodward 19 lbs. pork, at 7c., 21 lbs. pork, at 6c., and 3 bushels wheat, at $1.50. 14th. Sold Hiram Hawley 1 large clevis, $1.25, and sharpened drag teeth, 93c. Also, shod horses for Timothy N. Foster, $2.^ 15th. Shod horse for Franklin S. Clark, toed and set 2 shoes, 31c., and set 2 new shoes, 50c. 17th. Sold Clark N. Fulton 3 bolts, at 13c., 2 linch pins, at 12c. 18th. Set 1 tire for Timothy G. Baldwin, 38c., and mended skein on waggon, 50c. Also, sold Daniel W. Potter 1 hook to trace chain, 13c. 20th, Sold Charles D. Campbell 1 king bolt, 75c. 21st. Bought of Hiram Hawley 5 cwt. of hay, at $8. 22d. Sold Horace O. Bigelow 2 bands for drag, 38c., mended chain, 12c., and shod horses, $2. 23d. Henry B. Holbrook has paid me cash, $15. Sold Henry Woodward 1 hook and staple, 13c. Also, shod horses for James H. Gillet, $2. 24th. Sold Cornelius 0. Rumsey 1 iron wedge, 88c., 1 linch pin, 12c., and shod horse, $1. Also, repaired drag for Timothy G. Baldwin, 75c. 27tb. Bought of .Is rii ;f Ijrll r Ml! !!m; 42 BOOK-KEEPING. Daniel W. Potter 8 dozen eggs, 10c. Also, repaired threshing machine tor Isaac H. Jameson, $4. 75. 29th. Repaired waggon for Sylvester N. Nurse, $2.50, and ironed neck yoke, 88c. 30th. Sold William Gridley 8 lbs. spikes, at 12^0., and repaired cart, $1.88. Slst. Bought of Cor< nelius 0. Rumsey 12 lbs. butter, at 13c., 8 lbs. butter, at lOc, 22 lbs. pork, at 7c., 23 lbs. pork, at 6c., and he has paid me cash, $5. Henry B. Holbrook has paid me cash to balance his account, $32. 94. Daniel W. Potter has paid me cash to balance acc't, $5.1 4. y< Charles D. Camp- bell has paid me cash to balance acc't, $34.25. Franklin S. Clark has given me his not? at 6 months, $7.13, to balance aco't. Entry should be — Franklin S. Clark Cr. By note at 6 mo's to bal. acc't, $7.13. Sylvester N. Nurse has given me his note at 3 mo's for $31.50, to balance acc't. XWilliam Gridley has paid me cash to balance acc't, $10.07. Bela Dunbar has paid me cash, $19.94. Charles Harford has given me his note at 30 days for $6.69. Henry Woodward has paid me cash, $7.18. Timothy G. Baldwin has paid me cash, $26.07. James S. Hawkins has given me his note at 6 mo's for $71.13. x-I have allowed and credited John Lynd his acc't against me, $18.75. Entry should be — John Lynd Cr. By am't of his acc't, $18 .75. j I have allowed and credited Isaac H. Jameson his acc't against me, $13.75, and he has given me his note at 3 mo's to balanoe account, $33.90. m\ ^. ing machioe lylvester N. am Gridley ght of Cor. Oc, 22 lbs. 15. Henry 4. Daniel J D. Camp- Clark has $7.13. t $31.50, to mce acc't, arford has 1 has paid 7. James '6 allowed INDEX AND LEDGER. .! $18.75, linst me, account, MECHANICS' FOR M. t i. ;■ ; Vi ill 'I it ii •i » B c tja'm^4'^c^ &/iad. ^. &tai'/i^ ijyiann'Un xy. ^uri'^a D ->• £ F G H .1 E ^'Une/j (yonn M rym'?^'naei4ej tS^^imew (a. 44 N ^^iJf^ J^/ofj/ei JY^ o Q IS ^/^ai/, 9^oia/ta .AC i .If •I •■-I fll ■H J'i » I a IW: ALPHABET, OR INDEX. The Alphabet, or Index, is a small book in which are arranged, in alphabetical order, the names of all persons having accounts in the Ledger, together with the pages on which such accounts are entered. This book was fully explained in the last set, hut to assist the pupil the names of the accounts in this set have been placed in the proper places. The pupil may copy these names into the blank index. The number of the page has been purposely omitted. Let the pupil, as soon as he opens an account in the Ledger, place the number of the page opposite the name in the Index. i ! -v*jll THE LEDGER The Ledger is a book to which each person's account is transferred from the Day-book, and arranged on a page by itself The name of such person should be written in a bold hand at the top of the page, with Br. on the left and Or. on the right. Each page of the Ledger should be divided by a double perpendicular line into two equal parts ; the one for the debtor, and the other for the creditor side of the account. Each of these parts should also be divided by perpendicular lines into six spaces ; the first space for the month, the second for the day of the moiith, the third for the items, the fourth for the page of the Day-book on which the i'!^ BOOK-KEEPING. 47 original entries were made, and the fifth and sixth for dollars and cents. The first account to be opened in the Ledger is that of the person whose name stands first in the Day-book. As soon as it is opened it should be entered in the Alphabet. Posting Books in this form is collecting and transferring each person's account from the Day-book to its appropriate page in the Ledger. The entries recorded in the Day-book should be posted in the order in which they occur j that is, the first entry should be the first posted, and the second entry next, and so on until they are all posted. Whenever there is more than one article charged or credited to an individual on the same page of the Day- book, the several sums should be added, and the amount entered in the Ledger, To, or By Sundries; but when there is but one article so charged or credited, it may bo specified in the Ledger. r I; ('' i QUESTIONS. What is the Alphabet ? What entries are made in it ? For what purpose is it used i When do you make an entry in this book ? What is the Ledger ? How are the accounts arranged in it ? How should the page in the Ledger be headed? Into how many equal parts is the Ledger page divided ? What are these for ? Into how many spaces should each of the parts be divided ? For what are the different spaces used? Whose account must be opened first in the Ledger ? What entry to be made in the Index when an account is opened in the Ledger? What is meant by "Posting Books?" How should entries in Day-book be posted ? When there is more than one item in the charge on Day-book, what must be done ? How will you enter the amount in Ledger ? If there is but one item in the charge, what may be done ? !'f| m H ■^ 5p N- ^ S> > 5? . t\ 4 ^ V ^ VJ. ^ T% C>^ 1 1 ^ ^ I ^ ^^ ^ 1 $ « « « « ^ ^ ^ ^ ^ ^ < ^b ^ s; ^r \i J 48 BOOK-KEEriNG. 40 The pupil will find on the opposite page the account of Iriaac H, Jameson, as it would appear in the Ledger, On the first page of the Day-book you will find the name of Isaac H. Jameson, the first recorded. He is there, on the first day of January 1848, made debtor for one set of double harness at twenty-six dollars, and one pair of hal- ters at one dollar and seventy-five cents ; the sum total in twenty-seven dollars seventy-five cents ; hence, we make the entry — Jan. 1 1. I To Sundries | 1 || $27 | 75 | On the second page, 13tli day of January, for one halter strap, at thirty-one cents, and mending tug, thirteen cents ; sum total, forty-four cents, and we make the entry next to the one just entered. On the fourth page, 31st day of January, for repairing harness, one dollar ; one pair of tugs, three dollars ; one pair of tugs, two dollars ; sum total, six dollars. Of this we make the third entry on debit side of account. On the sixth page, 28th day of January, for foot- ing fine boots, three dollars fifty cents ; one pair of gaiters for wife, two dollars ; sum total, five dollars fifty cents, which makes the fourth entry on debit side. On the eighth page, 10th day of March, for seventeen pounds ot gate hinges, at thirteen cents per pound, two dollars twenty- one cents ; shoeing horse, one dollar ; sum total, three dol- lars twenty-one cents. This is posted ^ the fifth entry on the debit side. On the ninth page, 2. lu day of March, for repairing threshing-machine, four dollars seventy-five cents, which is entered as last entry on debit side. And on the tenth page, 31st day of March, he is made credit for the amount of his account, thirteen dollars seventy-five cents, and his note to balance the account, thirty-three dollars and ninety cents, and should be posted as on the following page on the credit side of the account. The same method is pursued in posting the other accounts. I i I'^i im •il I t K I I li III; V^: ^ i ^ 02 V) ,^ ?. ^ ^ 1 "' * ^ ^ 'ft, v/ ,,..,., ^ • ■..',!'" ,^ 1 1 • 1 ^ >5 ■ .l. A:: ^^ \ * ^^ \ \ <^0 cb ->; "7- v** « • ^ ' §N <2 ^> v> N 4 V t ^ "<::) ^ ^ .-^; < . . ... . 1 . , ' . 1 . • *^ ' i r '.-'■. ; ■ ' i -. -^t X '' ""■ ■ ' • ■■ ; ■' ' .-'li.j - ^ C5v^ : ^- 1 ■ -' ' sj \ 1 ■' "'■ . ■■' ' ':'.'- \l' '- «b ^ < : / ' '., ' ^''.-^ V tb i a V ^ 00 BOOK-KEEPINO. 1^ On the opposite page you will find tho samo account (Isaac 11. JauK'Son'w) ])08tecl by figuros, the small figures indicating tho Day-book page, and the largo ones the amount of tho entry transferred. When tlie line is filled, these sums are added, and tho sum total extended into the money columns. This method is very simple, and needs no further ex])laiuition after the instructions given on preced- ing page. It is not as full as the first method of j)ostiag, but is adopted by some, because it occupies so much 'oss space in tho Ledger than the former. The learner, if he chooses, may practise both. By a careful study of the account given above, and the explanations accompanying it, the pupil will be enabled readily to post the remaining accounts. In order to guide the pupil in this labour, the accounts of Henry B. Holbrook, Daniel W. Potter, Charles D. Campbell, and Franklin S. Clark are given, as they will appear, if correctly posted. If the remaining accounts are properly posted by the pupil, he will find the following amounts necessaiy in order to balance them : — Sylvester N. Nurse, — ; Horace O. Bige- low, $3.75; William Gridley, — ; Bela Dunbar, — ; Charles Harford, — ; James S. Hawkins, — ; Clark N. Fulton, $46.88; Aaron B. Patterson, $15.38; Cornelius 0. Kumsoy, 72c.; Horatio N. Short, (Cr.,) $2.74; Henry Woodward, — ; John Lynd, $0.50 ; Hiram Hawley, (Cr.,) $31.32 ; Andrew C. Mynderse, $5.88; Timothy N. Foster, $71.50; Timothy G. Baldwin, — ; James H. Gillet, $23.50. !! i t '■ n Note. — The dash indicates that the accounts after which it ia placed balance. > K' 11 1 ! i : ■ 1 it' l!;^ i i ^ '^ .1 K ■^ 4 ^ 2; '^ § ^ ^^ v^- • \ 4^ ■ \ ^1 ' <;i 0 V ^ ^ ^> ^ ©< *o ^ T% "^ ^ -J H ' . • \ - ^^ ^^ ^ ^^J m^l ' 52 «b ^ S ^ -^ •o «o 1 ^ <^\ i^" "^ ^ ^b s^ V ^ \ 'J \ ^ \ 1 \ ^ \ ^0 \ ^ \ \; \ j» si ^^ X «b ^ ^ ^?- V^^ ^1 ^ ^ P «o <^ ^ tx ^\ ^ ^ ■"> ^ 4 V <>) c^ *aP 1 i s^'^ ^^^ • s^Sj,.!, s^-^sj^ V V V ^ , . ^ ^ ^ '^ ^ ^■*- ^- . ^ ^■>i -1 » s> ^ ^ N ^ "^ Si V ^ '^ •^ >5 "1 ^ « S <^o ^^ o^ ^ • ^ > "^ ^i ^0 ^ -V q^. s ^ ^^1 • ^ ^ V ^ V ^Ci tb >» I .l%.l ^f^ ^ ^ % S ^ v^ l^ , , ^ ^ ^ 1^1^ j-.l ^.t■ '■?■ i mM 53 TTl Pii 54) BOOK-KEEPING. I :. \- I PRACTICAL EXERCISES. The form on the preceding pages, although it is desig- nated as the " Mechanic's Form," is, nevertheless, well adapted to the use of profession; ^en and merchants ; and from the fact that a majority v./ merchants in the small villages throughout the country keep their books after this form, we have thought best to give a Memorandum of the business transactions of a merchant for three months, re- quiring the pupil to record them in the Day-book, post to the Ledger, and balance the accounts as in the pi'eceding. The price per ounce, pound, gallon, yard, or piece, is given, leaving the amount to be extended by the learner ; and if the above-described operation is ':orrectly performed, it will be found, on balancing the books, that the following per- sons are indebted to you for the sums opposite each name : — Hiram Mann, $39.42 ; Milton Seely, $42.71 ; Albert J. Hovey, $7.17; Charles R. Hecox, $4.49; William F. Ashley, $9,15; Ephraim B. Price, $6.43; Peter Brant, $17.63; William Walling, $7.52; Merrit Thornton, $23.03; John Messenger, $1.71 ; Alpheus Clark, $8.81 ; Samuel Weaver, $28.66 ; John Hancock, $12.63; Samuel ivioore, $17.21 ; Nathan Brittan, $5.36; and you are indebted to Myron Holmes, $2.32. MEMORANDUM. JANUARY. let. Sold Hiram Mann 2\ yds. broadcloth, at $3, 1^ yd. silk serge, at $1..50, 1 doz. large buttons, at 75c., and ^ doz. email do., at 25c. 2d. Sold Myron Holmes 10 yds. silk, at $1.50, and 5 skeins silk, at 4c.; Milton Seely, 1 cap for boy, at $1.25, and 1 pair small coarse boots, at BOOK-KEEPING. 15 $1.50 ; Albert J. Hovey, 10 lbs. Bugar at lOc, and 1 lb. tea, at $1. 3d. Sold Charles R. Hecox 5 yda. calico, at lOc, 5 lbs. coffee, at 14c., and 1 lb. tea, at $1 ; William F. Asliley, 15 lbs. sugar, at lOc, 1 oz. nutmegs, at 12c., and 1 oz. cloves, at 13c. 4th. Sold Ephraim B. Price 1 bbl. of salt, at ^1.25, 1 bbl. water lime, at $2.25, 50 lbs. coarse salt, at l|c., and 20 lbs. mackerel, at 8c.; Peter Brant, 10 yds. mu.slin de laine, at 5Cc., 15 yds. factory, at lOc, and 5 spools thread, at 5c. ; Wil- liam Walling, 20 lbs. sugar, at lOc, 10 lbs. coffee, at lOc, and 1 lb. tea, at $1. 7th. Sold Merrit Thornton 3 yds. gray cloth, at $1, 3 yds. factory, at 8c., and buttons, 6c. ; Hiram Mann, 8 lbs. sugar, at 9c., and 5 lbs. coffee, at 14c. 9th. Sold John Me.ssenger cloth and trimmings for overcoat, at $9, 6 yds. cassimer, at $2 ; and he has paid me cash on account, $20. 10th. Sold Albert J. Hovey 10 yds. calico, at 12ic., and 1 spool thread, at 5c. ; Alpheus Clark, 1 yd. silk, at $1.25, 1 cord and tassel, at $1, and 3 skeins silk, 4c. 11th. Sold Milton Seely 1 ps. factory, 30 yds., at 10c. 12th. Sold John Messenger 50 lbs. sugar, at lOc, and 1 ps. factory, 40 yds., at 8c. ; and bought of him 1 firkin butter, at $10. 14th. Sold Merrit Thornton cloth and trimmings for panta, at $6. 15th. Sold William Walling 3 yds. S. G. cloth, at 56c. 16th. Sold Peter Brant 1 lb. tea, at $1, and 10 lbs. sugar, at 10c. 17th. Sold William F. Ashley 9 yds, bed-ticking, at 12;!c., and 3 spools, at 5c. 18th. Sold Charles R. Hecox 9 yd.s. factory, at 9c., 9 yds. tick- ing, at 12jC., and 2 spools, at 5c. 19th. Sold Samuel Weaver 4 yds. light green broadcloth, at $2.50, 3^ yds. worsted goods, at 75c., and buttons, 50c. ; and bought of him 20 lbs. butter, at 15c., and 10 doz. eggs, at 10c. Sold Ephiaim B. Price, per wife, 9 yds. muslin de laine, at 25c. 21st. Sold Albert J. Hovey, 1 pair kid gloves, at $1 ; Myron Holmes, 1 pair kid gloves, at $1. 22d. John Messenger has paid me cash on account, $5. 23d. Sold Hiram ^lanu 8 yds. calico, at 12^. and 1 spool, at 5c. Peter Brant has paid me cash on account, $10. Sold John Hancock 1 lb. tea, at §1, 5 lbs. coffee, at 12jC., and 10 lbs. sugar, at 10c. 25th. Sold Milton Seely 3 yds. cassimer, at $2, 3 yds. factory, at 8c., and buttons, 6c. 26th. Sold Samuel Moore, per Emo- gene, 1 pair kid gloves, at $1, and 1 pair cotton, at 19c. ; William Walling, 10 yds. calico, at 14c., 15 yds. factory, at 10c. ; and bought of him 10 cords maple wood, at $2. 29th. Sold Peter Brant 15 lbs. sugar, at lOc, and 5 lbs. coffee, at 14c. 30th. Sold Samuel Moore cloth and trimmings for coat, at $9.80, 1 pair suspenders, at 50c., and 1 pair gloves, at 31c.; and he has paid me cash on account, $25, Sold Myron Holmes 1 pair buck.skin gloves, at $1, 1 pair black kid do., at $1, cloth and trimmings for dress coat, $15, 50 lbs. sugar, at lOc, L«!! I l 56 BOOK-KEEPINCJ. i 20 lbs. coffee, at 15c., 5 lbs. tea, at 50c.; and he baa paid me cash on account, $25. Bought of him 10 super, ploughs, at §5. Slst. Sold Nathan Brittan 1 pair cotton hose, at 25c., 1 pair worsted gloves, at 50c., and 1 doz. skeins worsted, at 13c ' ^ 1 t ■ ' ' ' ' M FEBRUART. Ist. Sold William F. Ashley 1 silk pocket handkerchief, at 50c., and 1 cravat, at $1.50. 4th. Sold Ephraim B. Price 14 yds. shirting, at 12c., 2 yds. linen, at 75c., 4 yds. calico, at 6c., and 1 doz. spools thread, 63c. 5th. Sold Samuel Moore 2 rolls white paper, at 31c., and 3 brooms, at 18c. 6th. Sold Milton Seely 1 satin vest pattern, $3.25, 1 yd. cambric, lOc, 1 white do., 13c., and -J doz. buttons., at 12c. ; Samuel Weaver, 13 yds. shirting, at 13c., 2^ yds. Irish linen, at 88c., and 3 spools thread, at 5c. 7th. Sold Alpheua Clark 10 yds. sheeting, at 10c. ; William Walling, 12 yds. calico, at 8c., and 5 lbs. batting, at 12^c. 8th. Sold Ephraim B. Price vest and trimmings, at $2.25, 1 yd. linen, 75c. ; and bought of him bill of groceries, $15.42. 9th. Sold William F. Ashley 20 yds. calico, at 12 Jc. 11th. Sold Merrit Thorn- ton 1 doz. tumblers, $1, and 8 lbs. refined sugar, at 12Jc. ; Nathan Brittan, 12 yds. barr( d mull, at 31c., and 2 pair cotton hose, at 3Sc. 13th. Sold John Hancock 1 pair rubbers, at $1, 1 pair kid gloves, at $1, and 1 pair buskins, at $1.50. 14th. Sold Hiram Mann 1 graduated robe, $3.50, 1 yd. drilling, at 13c., and thread, 6c. 15th. Sold Samuel Moore 32 yds. sheeting, at lOc, and 4 yds. Irish linen, at $1. 16th. Sold Albert J. Hovey 1 set fine blue ware, at $3.50 ; Peter Brant, 1 lb. tea, at $1, and 5 lbs. rice, at 5c. ; John Messenger, 10 yds. muslin de laine, at 25c., and 1 yd. drilliog, at 13c. 18th. Sold Myron Holmes, per son, 1 vest pattern and trimmings, at $8. 19th. Sold Charles R. Hecox 17 yds. sheeting, at 5c., and 20 yds. calico, at 12^c. 20th. Sold Samuel Moore 1 fur hat, at $4 ; Milton Seely, per wife, super, shawl, at $30 ; John Hancock, 1 gal. lamp oil, $1.50, and 2 gals, molasses, at 37^^c. 21at. Sold Samuel Weaver 2 yds. mull edge, at 31c., and 1 pftir gloves, at 75c. 22d. Sold Merrit Thornton 3 yds. cassimer, at $2, J- yd. canvas, at 19c., and 1 pair black silk gloves, at $1. 25th. Sold Alpheui Clark 10 lbs. mackerel, at 8c., 20 lbs. sugar, at- lOc, and 10 doz. eggs, at 14c. 27th. Sold Hiram Mann 1 pa. sheeting, 30 yds., at lOc, and 20 yds. calico, at 10c. 28th. Sold Samuel Moore 6 yda. alpaca, at 60c., and 1 yd. cambric, at 10c. ; Myron Holmes, 9 yds. muslin de laine, at 37^ c, 2 spools thread, at 5c., and 5 skeins silk, at 4c. : William F. Ashley, 1 yest and trimmings, $5. BOOK-KEEPINO. MARCH. Iflt. Sold Albert J. Hovey 4 lbs. cotton batting, at 124^c., and 8 yda, calico, at- 12^c. 2d. Sold Milton Seely 3 yda. edging, at 8c.; E. B. Price, 4 lbs. coffee, at 14c., and 1 lb. cinnamon, at 31c. 4th. Sold Merrit Thornton 2^ yda. linen, at $1, 9 yds. gingham, at 88c., and 1 doz. spools, 63c. 6th. Sold John Meaaenger 1 cap, at $1.60 ; Samuel Weaver, 1 pair rubbers, at $1.75. 7th. Sold Alpheua Clark 1 gal. lamp oil, at $1, and 3 lbs. nails, at 8c. 8th. Sold John Hancock 3 bbls. salt, at $1, 100 lbs. sugar, at 7ic. and he has paid mo cash on account, §10. Sold Peter Brant 2 brooms, at 13c., and 3^ yda. flannel, at 75c. 9th. Sold William Walling 6 yds. alpaca, at 50c., and 1 yd. cambric, at 10c. ; and bought of him 10 lbs. butter, at 12^c. 11th. Sold Charles R. Hecox 1 pair kid gloves, $1, 1 pair rubbers, at $1.50, 1 pair buskins, at $1.25; and bought of him 1 firkin butter, 80 lbs., at 12^c. 12th. Sold Hiram Mann 3 bbls. salt, at$l ; Merrit Thornton, 9 yds. calico, at 12?yC. ; and bought of him 100 ft. hemlock fence boards, at 7.^0. Sold Peter Brant 12 lbs. sugar, at 10c. 13th. Sold Milton Seely, per wife, 12 yds. silk, at $1.25 ; and he has paid me cash on account, $20. 14th, Sold William F. Ashley 12 yds. calico, $1 ; Myron Holmes, per wife, 1 pair kid buskins, at $1.50. 15th. Sold Samuel Moore 1 set blue ware, at $3; Samuel Waaver, 1 set fine blue tea ware, at $3.50; William Walling, 2 bed -cords, at 25c. 16th. Sold Merrit Thornton ^ bbl. mackerel, at $9. 18th. Sold Ephraim B. Price 2 yds. satinet, at 75c. 20th. Sold Peter Brant 4 yds. satinet, at $1.12, and 2 yds. cassimer, at $1.50; John Hancock, 3 linen handkerchiefs, at 44c., and 1 yd. linen, at 75c. ; Samuel Weaver, per wife, 1 yd. /taliau silk, at $1.50, 1 cord and tassel, at $1.25, and 3 skeins silk, at 4c. 21st. Sold Milton Seely 1 vest pattern, at $1.50, and trimm ngs, at 38c. 22d. Sold Albert J. Hovey 9 yds. muslin de laine, at 31t!., and 2 skeins silk, at 4c. 23d. Sold Ephraim B. Price 8 yda. gingnam, at 50c., 1 yd. cambric, at lOc, and 2 spools thread, at 5c. 25th. Sold Charles R. Hecox 10 yds. gingham, at 31c., and 1 spool thread, at 5c. ; John Hancock, 3 linen handker- chiefs, at 31c., and 1 yd. linen, at 75c. ; Peter Brant, 14 yds. sheeting, at lie, 30 yds. do., at 9c., 2 yds. Irish linen, at 75c.; and bought of him 15 lbs. butter, at 12^c. 26th. Sold William Waliing 150 lbs. sugar, at 10c. 27th. Sold Samuel Weaver 3 yds. black cassimer, at $2; Hiram Mann, cloth and trimmings for dress coat, $15 ; William F. Ashley, 2 pair small shoes, at 31c., and he haa paid me caah on account, $5. 28th. Sold John Messenger 1 set buttons, at 75c., 1 hank thread, I I ;l'iS ■'H w I ; I' 1 '^ s V-i \\l 58 BOOK-KEEPINO. at 13c., and 1 pair shoes, at $1. 29th. Sold Myron Holmes 1 shawl, at $10, 1 pair kid gloves, at $1, 2 yds. mull edging, at 40c., 1 bag clasp, at 60c., and 1 yd. silk velvet, at $3.50; Samuel Moore, 9 yds. silk warp alpaca, at 75c., 1 yd. cambric, at lOc, 1 pair kid buskins, at $1, 2 linen handkerchiefs, at 50c., 1 yd. silk, at $1.75, 1 cord and tassel, at 75c. 30th. Sold John Messenger 1 gal. lamp oil, at $1.60. Albert J. Hovey has paid me cash on account, $6, ]1 K; i| FORM FOR MERCHANTS. if The principal books of this form are the Day-book ot Blotter, the Journal, the Ledger, and Cash-book. The Day-book and the manner of keeping it are the same as described in the second form, with these excep- tions : the manner and place of dating are different, and it is ruled with single money-columns, instead of double. A Petty Alphabet or Index to the Day-book should also be kept, in which all the names entered in the Day- book during a month should be entered and alphabetically arranged. This book should be commenced on the evening of the first business day of each month, by writing in it all the names that were entered in the Day-book during the day, together with the pages on which such entries were made ; and so every evening daring the month, enter in the Alphabet all the new names that appear in the Day-book, with their pages ; and if a name appears that has already been entered in the Alphabet, enter the number of the page on which it stands opposite such name. Whenever the name occurs more than once on the same page of the Day- book, it is indicated in the Alphabet by repeating the num- ber of the page. A small cross ( + ) placed after the figure indicates that there is a credit-entry on that page in the Day-book. The Journal is a book into which all the items of each Hit :'i ■■Jf i ^1 ii i 60 BOOK-KEEPING. ])erson's account are transferred from the Day-book, and so arranged that those for each month are collected together. At the close of every month the Day-book should be iournalized, which is done in the following manner: Transfer the first entry of the month, in the Day-book, to the Journal ; then find the name thus transferred in the Alphabet, and if that has been kept as above directed, you will see on what pages of the Day-book this name again occurs ; then turn to these pages in order, and transfer to the Journal all the items entered to this name, j)lacing them under the name already entered there, with the dates, next spaces. Then if there are any credits to this account in the Journal, their sum total should be entered in the Ledger on the Cr. side in the same manner, except in the wide space write " By Cash," " By Merchandise," or " By Sundries," as the case may be. Then place two parallel oblique lines, one above and the other below the figure in the margin, to indicate that the account has been posted. Proceed in the same manner until each account in the Journal for the month has been posted. At the close of the next and the subsequent months, the Journal should be posted in the same manner as above described. Every month, immediately after the Journal has been posted, it should be compared with the Ledger, to see if any mistakes have been made in posting. In order to facilitate this, it should be done by two persons. One should take the Journal, and commencing with the first account in the mouth, give its title and the page of the ■s" i L % ■-ai ■- • •" I ill ' u t4 i I if 62 BOOK-KEEPING. ' , I Ledger upon which it is posted, as indicated by the figures in the margin of the Journal ; the other should then turn to this page in the Ledger, and see if it is correctly posted, while the iirst reads from the Journal the entry, amount, page, die. In comparing the books, if any account is found to have been overlooked, it of course should be posted immediately. If an entry has been made on the wrong side of an account in the Ledger, it should not be erased, but the same amount sliould be entered on the opposite side of this account " To" or " By Error," and then the entry made as it should have been at first. > i , ^ If an entry has been posted to the wrong acconnt, the same amount should be entered on the opposite side of this account " To" or " By Error," and it should then be posted in its proper place. When either the Day-book, Journal, or Ledger is written full, its place is supplied by a new one, and the diflferent books are usually designated by the first letters of the alphabet : the first Day-book as Day-book A ; the second. Day-book B: the first Journal as Journal A; the second, Journal B : the first Ledger as Ledger A ; the second, Ledger B ; the third, Ledger C, «fec. After writing the Day-book for the months of January, February, and March, journalizing and posting it to the Ledger, the accounts may be balanced. ' Balancing accounts is placing a sufiicient sum on the least side of an account to make it equal with the greatest, and is done by adding the Dr. and Cr. columns, subtracting the least from the greatest, and making the account Dr. <•' To," or Or. " By Balance," for the diflference. The debit and credit sides will now foot alike. Next draw single lines opposite each other under these columns, and, after addinw and placing the amount under them, draw double BOOK-KEEPINQ. C3 lines under the amount, to signify that the two sides are balanced and closed ; then bring down the baliince by making the account Dr. "To," or Cr. "By Balance" of old account. But if the Ledger is full, and you wish to trans- fer the account to a new one, let the balancing entry be " To," or " By Balance to Ledger B j" and in the new Lodger, " To," or " By Balance from Ledger A." In the following set of books, after writing the Day-book^ journalizing and by posting the three months' transactions, the books may be balanced, and the accounts transferred to a new Ledger. The same plan will be adopted in this as in the two pre- ceding forms. A portion of the accounts will be in the memoranda form, with explanations on one page, and the memoranda, as they appear when entered in the book, on the opposite page. Great care must be taken with this form, otherwise but little, if any, progress can be made in the second portion of the book. Let the teacher require the pupil to be thoroughly acquainted with the questions that follow, and, in examining the books of the pupil, rigidly enforce the principles that have been given. '• i ■ ■ 11 QUESTIONS. What is this form called? What are the principal books used t What are the Day-book and manner of keeping it like ? In what does it differ from the Day-books of the preceding forms ? What is the Index to the Day-book called ? For what is it used ? When should the names entered in the Day-book be placed in this Index ? Describe the manner of entering these names. If a name has already been entered, what do you do if it occurs again ? What do you do if a name occurs twice on one page? What indicates a credit entry? What is the Journal ? How are the accounts arranged in it ? When should the Day-book be journalized ? What is meant by journalizing ? De- scribe the manner of journalizing. AVhat do the parallel lines (//) placed opposite the Day-book entry signify? What should be done l>4 BOOK-KEKPING. !li after journalizing the aoeountg of the month ? If found correct, what do you write in the Day-book ? Where do you write it? What is the Ledger in this form ? la it like the Ledger in the preceding forms ? What line may be omitted? Is an Alphabet necessary to this Ledger? When should the Journal be posted ? What should be written first in the Ledger? What style of writing should be used ? What should be placed on the left ? What on the right ? Where should the names bo entered next? How do you page-mark the Journal ? After these pre- l»arations, what is the manner of posting ? What marks do you put in the Journal to show that the account has been posted ? After the accounts have been entered, what is to be done ? Describe the best way of reviewing the entries ? If an account has been overlooked, what is done? Should you erase a wrong entry? How can you correct it ? If an entry has been made in the wrong account, how can you correct it ? How are the new Day-books, &c., designated when a new set is used ? What is meant by balancing accounts ? Describe the method. If you open a new account in the same book^ how will tho entry read ? If in a new book } . •« «. ^N': M £ :i5'' I .:^'7/€yn4j cyfcoy?taa^/^ ua/n. S/j c/an. S/n.- can J^/d? 9jc/j. U6. ^e J£aine iyTiuidaaUj van. v/n.- , 30 'ivJ. ailoff/ fjuaai r. -r. /T-J" 4^^0 ^3y i .3S .3/ ./3 CO 00 00 2 3 40 34 44 (fo- /o /3 30 50 S^o BOOK-KEEPING. 67 MEMORANDA. Lyons, Monday, Jan. 3J, 1848. Bought of Pierce & Wilson mer- chandiae amounting by invoice to $173. Also bought of Sanderson & Co. an invoice of merchandi,se, §480. Also bought of Benedict & Rock- well an invoice of merchandise, $227. 4th. Sold Joseph M. Dcniniou 230 yds. brown sheeting, at 8c., 48 yds. red flannel, at 38c., and 3 doz. Coat's spool thread, at 48f. per doz. Also sold Moses Austin 17 yds. .sheeting, at 5c., and 20 yds. calico, at 13c. 5th. Sold George C. Dean 10 yds. muslin de laine, at 31c., 1 yd. drilling, 13c., and 2 do/, buttons, at 15c. per doz. Gth. Sold Nathan Brittan, per James, 2 gallons lump oil, at $1.25, and 30 lbs. loaf sugar, at 13c. This memoranda would be entered as on tlie opposite page. The method is the same as em])loyed in tlie two pre- ceding forms, with the exception, first, of the position of the date, it occupying the centre, and not the side of the page, and the day of the week, as the day oi" the month being expressed ; second, the separate amounts of the dif- ferent items in each account are placed separately in the last two spaces, and not the sum merely, as in proceding forms. The method of entering the memoranda in Day- book being so similar to the preceding forms, further explanation is deemed unnecessary. The pupil will now carefully enter in his Day-book the following memoranda in connexion wiih the foregoing. n U f M :r^ ^'H^l m M 11 MEMORANDA. Thursday, Jar 6th. Sold Rev. Ira Ingraham 5 yds. black broad- cloth, at $3.50, 1 satin vest pattern, §5.50, trimmings, $3.75, 5 lbs. of coCFee, at 15c., and 10 lbs. of sugar, at lOo. Also sold Miss May Emmonds 3 yds. of linen edging, at lt)c. 8th. S(jld Hugh Jameson merchandise and rendered bill, $8.07. Also sold John Adams 10 'yda. drab fringe, at 68c., and 3 pieces ribbon, at 31c. 10th. I'aid Horatio ^^M. n I M I*: I 68 BOOK-KEEPING. N. Taft's Older, $2. 38. Sold John M. Holley 3 yards black cassiniere, §2.25. Sold Levi S. Fulton 20 lbs. sugar, at Sc, 1 lb. tea, 8Sc,, and he took also, in cash, $8. Sold Abrani L. Beaumont 25 lbs. sugar, at 10c. ^llth. Sold Moses Austin 7 yds. alpaca, at 50c., 10 yds. cambric, at lOc, 3 skeins silk, at 4c., and 4 sheets of wadding, at 4c. Vl2tli. Sold Samuel Mt>ore 9 yds. muslin de laine, at 44c., 1 yd, cambric, at lOc, 2 yds. drilling, at 12c. Also sold Aaron D. Polhamus 1 cravat, §1.12. Also sold JuTues C. Smith 4 yds. green baize, at 50c. Also sold Levi S. Fulton 1 pair of fine boots, J^S. Bought of James Rogers 1 pair fine boots, ^5. >^ 14th. Sold George C. Youngs 3 yds. black cassiniere, at $1.75, and trimmings, 25c. Ti 15th. Sold Moses Austin 30 yds. sheeting, ' at 10c. •17th. Sold James Rogers 2 hanks linen thread, at 13c., and 4 pieces galoon, at 31c. Sold Nathan Brittan (wife) 1 pair kid gloves, $1, 1 pair inferior kid, 63c. I Sold Miss Mary Emmonds Oj'ds. muslin de laine, at 31c., and trimmings, 25c. She paid cash on account, $2.^ Sold John M. Holley (daughter) 20 skeins zephyr worsted, at Ic. Sold Thomas Rook 4 yds. sheep's gray cloth, at GSc.vlSth. Sold Moses Au.sETrPlO lbs. cotton yarn, at 19c. Sold George C. Dean (wife) Ijd. mull edging, 31c., and 1 yd. edging, 4c. 19th. Sold Ja mes MeElwain 9 yards muslin do laine, at 28c., 1 yd. cambric, 10c. Sold George C. Youngs h lb. tea, at S8c., 1 gallon molasses, at 44c., 1 lb. pepper, at 13c., and 1 lb. spice, at 13c. Bought of George C. Yot^u^s 2 bushels dried plums, at .$2.50." 20th. Sold Horatio N. Taft 1 set fine blue tea-ware, $2.50. Sold Levi S. Fulton 1 lb. tea, 88c., 5 lbs. rice, at 5c., 1 ounce nutmegs, 13c.- 21st. Sold Abram L. Beaumont 1 pair rubbers, $1. Sold Rev. Ira Ingraham 1 pair kid gloves, §1. SoldMosj^ Au in 10 lbs. of sugar, at lOc, and 5 lbs. rice, at 5c. ;\and bought of him 5 lbs. butter, at 13c. Sold Natiian Brittan 6 yds. merino, at $1.25.^ 22d. Sold Samuel Moore 1 yd. figured satin, $3, 1^ yd. twist, at 4c. , I- yd. black cambric, at lOc, 1 yd. white cambric, 13c., 3 skeins silk, at 4c., I sheet wadding, at 4c., i- doz. buttons, at 18c. /24th. Sold John Adams 185 lbs. sugar, at lOc. /y Sold Hugh-Jameson 6 yds. merino, at $1.12, 5 sheets wadduig, at 4c., 4 skeiys silk, at 4c. Sold James McElwahi 1 lb. tobacco, 25c. 25th. Sold Miss Mary Emmonds 3 yds. Irish linen, at 52c., 4 spools thread, at 4c. 2Gth. Sold Lucius S. Wood 1 cravat, 88c. Sold Horatio N. Tatt 3 yds. black cassimere, $2.\ 27th. Sold James MeElwain 9 yds. ticking, at 18c., G yds. tow cloth, at 31c., 16 yds. calico, at 8c., lOj^'ds. gingham, at 25c. N 28th. Sold George C. Dean (wife) 10 yds. calico, at 18o., 2 linen handkerchiefs, 44c. Sold John Adama 18^ yds. muslin de laine, at 18c\ Sold Samxiel Moore 1 pair rubbers, 88c., 2 papers pins, at 10c. 29th. Sold Edward Messenger 9 yds. ticking, ISc, J^ BOOK-KEEPING. 69 6 yds. tow cloth, at 81c., 11 yds. calico, at Gc, 6 yds. calico, at 5c., and 8 lbs. batting, at 13c. Sold Levi S. Fulton 10 yds. curtain calico, at 13c., 13 yds, calico, at 6c., 4 spools thread, at 5c., 11 yds. alpaca, at 7oc., and 1 lb. spice, 13c.\ 31st. Suld Nathan ririttan 3 liuon iKindkorcliicis, at 44c., and 2 A-ds. Irish linen, at 75c. Sold Aaron D. Polhamus 32 vds. shirting, at 12c., 4 yds. Irish linon, at 7i)C., and 1 doz. spools thread, 63c. Sold Joseph ^M. Deinmon 170 lbs. sugar, at lOo. »Abrani L. Beau- mont 7 yds. flannel, at 44c., and 4 yds. flannel, at C2c.-mFeb, Int. Sold Daniel Chapman 4 yds. Ijroadcloth, at $6, ^- yd. padding, at 3Sc., -J yd. canvas, at 2oc., i yd. silk soi'ge, at $1.13,!^Lfkeins silk, at 4c,, and 20 Inittons, 64c. -Sold James iJIcEhvain 1 bar'soap, 13c., and 1 cake fancy Boap, 12c. I^eught of Jonas W. Goodrich 20 lbs. mackerel, at Sc,|[ Sold Levi S, Fulton 20 lbs. mackerel, at 8o., and 8 lbs. coffee, at 12c, 2d. Sold Abram L, Beaumont (wife) 1 shawl, !57. i3d. Sold ]\[oses Austin 1 comforter, 31c.^ and bought of him S lbs. butter, at 14c., and 4 bushels potatoes, at SSc. Sold Hugh Jameson 3.V yds. flannel, at G2g. / 4th. Sold Eplyaim B. Ri'ice 4} yds. coating, at ,$2, i j-d. padding, at 3Sc., •f yd. canvas, at 25c., 1 set buttons, 75c , and 1 hank thread, 12c,\ 5th, Sold Miss Mary Emmonds 1 spool thread, 5c., and 1 thimble, 38c. »Sold George C. Dean 1 looking-glass, $3, and 1 set fine blue tea-ware, $3.50 7thg Sold John Adams 31 yds. silk warped alpaca, at 52c. Sold James Rogers 2 lbs coffee, at loc, 10 lbs. sugar, at lOc, and 2 gallons molasses, at 44c. Sold James B.Yi!ift)rd 6 t^imblers, at 12c., and 20 lbs. refined sugar, at 14c.^ 8th. Sold Abram L. Beaumont 31 yds. brown sheeting, at lOc, Sold Daniel Chapnian 1 pair rubbers, 88c., and 1 pair kid gfoves, §l.\ 9th. Sold Reuben H. Foster 1 set knives and forks. $2, and 1 gla.ss dish, $1.25, and bought of him 10 bushels potatoes, at 44e., ai(d 8'bushel8 oats, at 32c. 10th. Sold George C. Youngi |- lb. bbl. salt, $1.18..^Sold c, i lu. and 1 CO, at 6c., 10 lbs. batting, at lie, 5 lbs. cotton luead, at 5c, Sold Sauiuel Moore (daughter) cinnamon, at 38c., IJb, ginger, 12g. Thomas Rook 20 yarn, 19c., and 2 2 yds. mull edgin^Jp 40c. 11th. Sold Aaron D. Polhamus 9 yds, muslin de laine, 2Sc., 1^ yd, cambric, at lOc, and ^ yd. jean, at 16c, Sold Edmund Hopkins (wife) 1 graduated robe, $3.50, 1 vd. drilling, , ___ , , ,, .J u I „ as, $1.25, 12th. Sold Daniel Watrous 1 doz. tumblers, .$1, and 8 lbs. refined sugar, at 14c. Sold George C. Dean (Fellers) I ream fo.v'icap paper, $2.2.'>, Bought of Philip G, Altny merchandise per invo'ce, $42. jf44th. Sold Thomas Ninde ^ yd. j^lk serge, $1, and -J- yd. silk serge, at $1.12. Sold Ephraim B. Price vest and trimmings, $2. 25, and 1 yd, linen, 75c. 15th. Sold James*lloger8 31 yds, sheeting, at lOc, 2 pieces galoon, at 1* ■]; A • V ' 1 i '-i ''* 1 n 70 BOOK-KEEPIN(J. ilil::!: 31c., and 4 spools thread, at 5c. Sold Thomas Rook 5 lbs. coffee, at 14c., and 10 lbs. refined, at 14c. IGth. Sold George C. Youngs 3 yds. flannel, at 50c., 9 yds. calico, at 13c., and 4 spools thread, at 5c. Sold Nathan Brittan 9 yds. silk warped alpaca, at 75c., and 1 yd. drilling, at 12c. Bought of Moses Austin 4 lbs. butter, at 14c. yl7th. Sold Thomas Ninde (wife) 8 yds. calico, at 15c., and 4 yds. calico, at 10c. Sold James McElwain 1 lb. tobacco, 25ory^old Thomas E. Dorsey (daughter) 1 bag-clasp, 50c., and 2 linen handkerchiefs, at 44c. Sold Reuben H. Fo.ster 30 yds. brown sheeting, at 8c., and 1 doz, spools thread, 63c. Levi S. Fulton, cash for personal expenses, $15. 18th. Sold Edward Messenger 1 vest pattern, $1, 1 yd. celecia, 19c., and -J- twilled goods, 16c. Sold Thomas Rook 8 lbs. cotton batting, at lie, 3 yds. calico, at lOc, and 1 yd. cambric, lOo. 19th. Sold Abram L. Beaumont 3^ yds. black broadcloth, at $5, ^ yd. padding, at 38c., 2 canvas, at 25c., liyd.\L twist, at 4c., ^ yd. silk serge, at $1.12, 5 skeins silk, at 4c., and 1 ser ^ buttons, 75c. Sold Moses Austin 1 lb. tea, SSc, and 8 lbs. sugar, at 10c. • 21st. Sold Levi S. Fulton 10 lbs. sugar, at lOc, and 4 ibs. coffee, at 14c. Sold Edmund Hopkins 10 lbs. sugar, at 9c., and 1 gallon molasses, 44c. Sold Horatio N. Taft 30 yds. sheeting, at 10c. 22d. Sold Thomas E. Dorsey 3^ yds. broadcloth, at $3.75, 2 yds. sheeting, at lie, 10 lbs. sugar, at lOc, and 1 lb. tea, SSc. 23d. Sold James Bash- ford 33^ lbs. rehned sugar, at 14c., and bought of him 2 bush, dried plums, $2.25, and 6 bush, dried apples, at 75c. Bought of Rcmsen and Polhamus, wire, 31c. Sold Nathan Brittan 14 lbs. batting, at lie, and 16 yds, calico, at 6c. Sold Hugh Jameson -J- lb. tea, at 8Sc., 1 gallon molasses, at 44c,, and 1 lb. of ginger, 12c. Sold James McElwain 4 lbs, raisins, at 15c., 5 lbs, crushed sugar, at 14c., and 1 oz. nutmegs, at 13c, « 24th. Sold George C. Dean 10 yds. sheeting, at 8 Jc, and 203- yds. sheet- ing, at 10c. Sold Samuel Moore 17 yds. calico, at 16c., 10 yds. calico, at 12c.\Sold John M. Hoi ley 2 galls, lamp oil, at $1.12, and 1 ball wicking, 13c. Sold James Rogers (Croal) merchandise per order, $3.5(1 25th. Sold Jonas W. Goodrich 1 lb. tea, 75c., 1 lb. pepj>er, 12c., 1 lb. ' ginger, 12c., and 2 lbs. saleratus, at Gc. - 2uth. Sold Edward i^Iessenger 6 lbs. cotton yarn, at 19c., and 3 spools thread, at 5c. Sold Reuben H. Foster 7 yds. alpaca, at 50c., 10 yds. cambric, at lOc, 3 skeins silk, at 4c,, and 4 sheets wadding, at 4c. 28th. Sold George C. Dean 16 yds. calico, at 6c., 8 lbs. batting, at lie, and bought of him 100 lbs. white lead, at 8c. Sold Horatio N. Taft 1 bbl. salt, $1.13, Sold John M. HoUey (wife) 1 set knives and forks, $2. 25, 'and 8 yds, flannel, at 56o. ^29th. Sold Levi S. Fulton 2 J- yds. velvet ribbon, at 15c., and 1 pair kid gloves, SSc. Sold Joseph M. Demmon 19 yds. Canton flannel, at 40c,, -x BOOK-KEEPING. 71 and 33 jAt. shirting, at lO^c* March 1st. Sold Thomas Rook 4 lbs. cotton batting, at lie, and 7 yds. calico, at 8c. Sold Thomas E. Dorsey (daughter) 3 yds. edging, at 8c. 2d. Sold Edward Messenger 1^ doz. buttons, at 50c., 1 yd. celecia, 18c., -\ yd. twilled goods, at 18c. and -f yd. canvas, at 25c. Sold Moses Austin 4 lbs. coffee, at 14c., and \ lb. cinnamon, at 38c. 3d. Sold Daniel Chapman 2^ yds. linen, at $1, 9 yds. gingham, at 38c., and 1 doz. spools thread, at 63c. 4th. Sold Lucius S. Wood 1 pair rubbers, 88c. Sold James C. Smith 1 pair kid gloves, $1, 3 linen handkerchiefs, at 42c., and 1 linen handkerchief, 63c. 6th. Sold Miss Mary Emmonds 1 pair buskins, $1.13. Sold Abram L. Beaumont 1 pair rubbers, $1. Sold Nathan Brittan 1 gallon lamp oil, at $1.25, and 3 lbs. nails, at 6c. 7th. Sold Moses Austin ^ lb. tea, at $1, 1 bar soap, 14c., and bought of him 4} doz. eggs, at lie. 8th. Sold V James C. Smith 1 pr. kid buskins, $1.25. Sold John M. Holly 1 yd. " silk velvet, $3.50, 1 yd. sheeting, 15c., ^ yd. cambric, at lOc, 1 doz. buttons, at 19c.)s^nd 3 skeins silk, at 4cN^th. Sold Daniel "Watrous 1 lb. tea, $1, and 3 doz. eggs, at 12c. Sold Jonas W. /}oodricb\3 yds. cassimere, at 88c,, 3 yds. sheeting, at lOc, 1^ doz. buttons, at 4c., and 3 skeins silk, at 4c. Sold Hugh Jameson 1 cap, 88c. lOth. Sold Thomas Rook 3 lbs. cofifee, 14c., and 1 lb. butter, 14c. Sold Thomas Ninde ^ ream foolscap paper, $2.25, and 1 quart ink, 50c. Sold Rev. Ira Ingraham 4 linen handkerchiefs, at 44c<*:f 11th. Sold George C. Youngs I lb. tea, at 75c., } lb. pepper, 12c., and 1 gallon molasses, 44c. 13th. Sold Reuben H. Foster (Samuel) 2^ yds. cassimere, $2, 3 yds. sheeting, at lOc, and buttons, 6c. Sold James Bashford 3 bbls. salt, at $1.12, and 100 lbs. sugar, at S^c Sold Lucius S. Wood ^- yd. linen, at 75c. ''14th. Sold Aaron D. Polhamus (wife) 1 pr. buskins, $1.13, and 5 yds. muslin de laine, at 31c. | 15th. Sold Thomas E. Dorsey (wife) 9 yds. calico, at 18c., and bought 9 lbs. butter, at 14c. Sold James McElwain 1 file, lOc, 1 small file, 9c., and 4 gross screws, at 44c. IGth. Sold Horatio N. Taft 10 yds. gingham, at 31c, and 1 yd. cambric, 10c. Sold Justin W. Burnham (daughter) 8^^ yds. calico, at 12c., 6 yds. gingham, at 34c., and trimmings, 19c. 17th. Sold Samuel Moore 1 gall, molasses, 44c., 1 gall, lamp oil, $1.13, and 1 bar soap, 12c. Bought of Remsen and Polhamus 2 boxes glass, at $3, and work per Boume, $1.50. Sold George C. Dean (wife) 1 pr. kid gloves, 63c., 1 pr. rubbers, 88c. 18th. Sold Daniel Watrous 3j yds. black broadcloth, at $.5, ^ yd. padding, at 38c., -I yd. canvas, at 25c., -J yd, silk serge, at $1.12, 5 skeins silk, at 4c., and he paid me cash, $12. 20th. Sold Moses Austin 2 brooms, 13c., and 3J yds. flannel, at 62c. 2l8t. Sold Aaron D. Polhamus 6 yds. alpaca, at 60c., and 1 yd. cambric, 10c. 22d. Sold Miss Mary Emmonds m ;! - iTl Vi^ '1.1. I :t. 11 ^'n ^ 72 BOOK-KEEPING. r • fti » '11. I II 2 linen handkercUiefs, at 38c. Sold Nathan Brittan 9 yds. calico, at 12c. Sold Levi S. Fiilj(on 4 lbs. butter, 13c. Sold Daniel Chapman 14 yds. sheeting, at IScttrSO yds. sheeting, at 10c, , and 2 prs. cotton hose, at 38c. 23d. Sold ileuben H. Foster (wife) 12 yds. blue calico, at 14c. Sold Justin W. Burnhara 1 pr. gloves, 44c. Sold Thomas E. Dorsey 3\ brooms, at 13c., and 1 patent i)ail, 31c. 24th. Sold Horatio N. Taft 33 yds. sheeting, at 9c. Sold Thomas Rook 12 yds. curtain calico, at 12c., and 4 spools thread, at 5c. Sold James C. Smith 1 yd. satin vesting, $3, f yd, black cambric, at lOc, 1 yd. white cambric, 13c., 1-^ yd. twist, at 4c., ^ yd. wiggan, at 12c., 2 sheets wadding, at 4c., 4 skeins silk, at 4c., ^ doz. buttons, at 18c. V25th. Sold Aaron D. Polhamus (wife) 12 yds. Italian silk, at $1.25. ' Sold Samuel Moore (daughter) 1 pr. buskins, $1.12. 27th. Sold Thomas Ninde 1 set fine blue tea-ware, $3.50^ Sold John M. HoUey 6 yds. flannel, at 50c. 28th. Sold Nathan Brittan 1 pr. red buskins, $1.25. Sold Justin W. Burnham 9 lbs. sugar, at lOc, 4 lbs. rice, at 5c., and 2 lbs. coffee, at 15c. Sold Daniel Chapman 25 lbs. sugar, at 8c., and 10 lbs. coffee, at 15c. Sold James Eogers 32 yds. brown factory, at 9c. 30tli. Sold Abram L. Beaumont 31 yds. brown sheeting, at 9c., and 6 spools thread, at 5c. Sold Joseph M. Demmon 128 lbs. coffee, at Q^c. 31st. Sold Levi S. Fulton 9 yds. muslin de laine, at 31c., and 4 skeins silk, at 4c. Sold Lucius S. Wood 2 Hneu handkerchiefs, at 44c. Sold Horatio N. Taft 2 bed cords, at 25c. m , / i INDEX TO THE DAY-BOOK. MEKCHANTS' FORM. 'i i i i I It i INDEX TO THE DAY-BOOK. ^f r NAMES. January. February. March. fSvaronii, (^o^n y f . ' ■ 1 - . c^e)if(/(c/ ^' JjCoc/wc^ s ; :f Fcbruari'. March. The pupil will find the names and months entered in this Index ; the figures are left for him to enter according to directions. I in ii ^ 'SI rf 1 ! 'Si .1 '■: 75 m -y' n 7G BOOK-KEKPINO. r ■. JOURNALIZINQ. i4. ill- As Jonvnalizing is a process not yet familiar to the student, tlio memoranda given on tlio preceding pages are arranged in journal form on the following jiages. The student must not merely copy these entries from the Text- hook, as that would be a mere exercise in writing. It is expected that he will apply the principles given in the in- structions on journalizing in the lirst part of this form. After he has made tlio entries as well as he can in his Journal, he may compare it with the form given iu the book, and correct the error, if any have been nuide. A good method is to journalize on a slate or paper, and then, after correcting, co])y the entries into the book. It is of great importance that the teacher should insist ujion the pu])irs journalizing by the priucii)les, and on no account should he permit him to merely copy from the text-book. 1 •/ JOURNAL. MERCHANTS' rORM. Ik , 'i: \^ r rr * CA i I \ \\ I -f- iio-'iifij f (f. "u^ianli/, '/6c//^6. y. 78 / 1 //J 00 / 46' CO o j237 00 J2 (foJr/t^ ^6. Sz)eMtma?i JF^l 4 S: ^30 'f^^ ./o 3 00 /<9- „ -/O /^. ^a//an 9j^ain ./p / go 2/ ,. /O „ K/*(uai ,-/C / 00 „ 6 „ ^dx'ce .06 j96 /4 3& S (oon/ia K)i. c^^ 6 /, ^i. 6 J^ /C 9^ i \ ' i m i ' 1, .1 79 m ■h \ i* ^ .^f^C^td^ ua^. a^ittai'?. y, /^Ja<^. cf '7 24 J'Ceia/i c/a^7tcJon ci/Ji 6 i ^^"/fiitm'i .04 .04 J3^ t^(X J24 £6^ /O SO S6 /o '7 /o :2o ^ 3 ^J. ^7/^^n .3/ '/<$S 77j. yffaai ./O /^ |/«^. ,^6. 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M^r/. y^ai ./4 / 20 / ■/O 9^ /o 7^ / 40 ^S 30 ''\ '$0 3 /3 / 30 3 63 ■/5 /3 3 60 /3 o6 90 44 / 00 / /3 6' / J 4 2^3 3 7.P / 03 36 3 /3 J:z^ua^idj 'eii iaa li/y -/SJ/- o. /^ /^ ^7 /J // /6 ^s ^ 6r „ ioauca ao. r. /.CO ./o ^7 '7 22 /2 /<$ 26 6' 2/ 2S „ 2 .. /. '^' /;>! '/ Photograpliic Sciences Corporation iV # ^ N> 6^ 33 WEST MAIN STREET WEBSTER, NY. 14580 (716) 872-4503 .X. /J ,^Zyiio^i4^ ^ciUcn^ /oj^-o. /J /JS J? s yoo 3 so • " J^ " ^<»9^t^ .^3 s 43 „ / ^(^^. O^tooiS J/7tieae/ \ ^^ 23 „ /4 fJ^M. ty/ue/c4^ /c£.^c^ iS ^7 ^0 /s u J? ^ /o ^/ /^ // alOt /3 / /fij /oj^o. /S J? iS*aion Jz). c^o/ncMnud M^. U K^a KS^-m/. y^Uonan/ ^ " ^I'nanam .34 2 04 „ K^^'tnmt'Mad i ^ sa . /#.^X.•?; 'HI 1^1 I, i ft '- \-: i 1( ^ J:L^cmd^ t >l ^ Is ■A* 1 <5S K ^ ^ s N I: V "^ » ^ 5 ^ ^ $^ '^ ^ '^^ ..k'N ^ N^ ^ s ^ 4^ 102 Vii o< 1 4 (^-s X ^ ^> !« s ^ ^ Vi ^ 1 ^ ^> V Si Ms ■>; ^ 1 ^ <;i V) -:^ «i "^i V 'si ^ • ■ '" "— -— r 1 1 ^ 1 4 c ^ 1 ^>^ ^ ^ ^> . S ^H "vi ^ N ^^ ^i , "^ \i ^ X ^ ■« t ^ . i!' « 1 'S^ ^ ^ ^ 1^ '^ s 1 i " s; '^^ ^ r S l^\^ ,•« 1 H = ■ ^ ^ ->; iira H ■ 1 W i?i': ij 103 (^ ^ \J [ ^ ^ ^ ^ V ^ ;^ <^ ^ i . 31 §N — ^ V c. ^ ^ ■ r 1 §i i .1^ * * i4i^ ^ s ^ '^ ts ^ :v ^> ^^ ^ ^ ^ ^ 0^ "^ V ^^ C5\ ^ n .t^ ^^ J I = 1 l-sf <.^ ^ * "^^^ Vi ^i V ^ X «.j ^^ ^^ >( 4 « 1"^^ n| l^ , , ^ . ^ f4^1 104 BOOK-KEEPING. 105 The pupil will perceive at once that the principles of posting are the same as in the two preceding forms. The accounts are posted from the Journal, and as in accounts on opposite page : First, the name is written, with Dr. on the left hand, and Gr. on the right ; second, the date, year, and month, is placed in first space ; the article in the second space, the page of the Journal in the third space, and the sum, or amount of the month's dealings, as per Journal, in the fourth and fifth spaces. The student will notice that the account of Pierce & Wilson is balanced, " Mar. To Bai. Ledger B, page 1, $173." This entry is made on the sup- position that the accounts are to be transferred from this Ledger to another j this Ledger, as the first, is Ledger A, and the second would be called Ledger B. The accounts of Piei'ce & Wilson ; Magie, Sanderson, & Co. ; Benedict -■- . vi (I 106 BOOK-KEEPING. ' PRACTICAL EXERCISES. merchants' form. For the purpose of giving a more practical knowledge of the foregoing form of books, we have given on the following pages a Memorandum of the transactions as they occurred, for the months of April, May, and June, giving the price per yard, pound, ounce, gallon, or piece, leaving the amount to be extended by the learner. ' • Before commencing the Day-Book, transfer the balances from the last Ledger to the new one, making the persons that are indebted to you debtor " To Balance from Ledger A," and the persons to whom you are indebted credit " By Balance from Ledger A," placing the number of the page from whence the account was transferred in the column appropriated for that purpose, so that, in case of necessity, the old account may be more readily referred to. The transactions on the following pages may now be re- corded in the blank Day-Book in the same manner as in the preceding form. After writing one month, journalize and post it, according to the directions previously given. If the balances of the accounts in Ledger A are properly transferred to Ledger B, and the transactions on the follow- ing pages correctly recorded, journalized, and posted, the accounts in Ledger B will, with the exception of the ac- count of Levi S. Fulton, all balance. The learner may, if he chooses, substitute his own name for that of Levi S. Fulton ; and instead of Lyons, at the top of the page in the Bay-Book and Journal, he may insert his own place of residence. \i -\ MEMORANDUM. APRIL. 1st. Bought of Rerasen & Polhamus 4 lbs. wrought nails, at 16c. Sold Horatio N. Taft, per wife, 10 yds. giugham^ at 31o. 8d. Sold BOOK-KEEPING. 107 % Ephraim B. Price 2 yds. satinet, at 75c.; Rev. Ira Ingraham, per daughter, 3 linen handkerchiefs, at 44c,, and 1 yd. linen, at 75c. 4th. Sold George C. Dean, per wife, 8 yds. gingham, at 31c., 1 yd. camhric, at lOc, and 2 spools thread, at 5c. 5th. Sold Moses Austin 1 oz. nut- megs, at 13c., and 3 yds. sheeting, at 10c. ; James McElwain, 4 yds. satinet, at ^1.12, and 2 yds. cassimere, at $1.50. 6th. Sold Daniel Watrous 4 lbs. butter, at 14c.; Abram L. Beaumont, 2 pair small shoes, at 56c.; Thomas E. Dorsey, 14 yds. sheeting at lie, 30 yds. sheeting, at 9c., and 2 yds. Irish linen, at 75c. Bought of Thomas E. Dorsey 14 lbs. butter, at 14c. 7th. Sold John Adams 150 lbs. sugar, at 9c. 8th. Sold Samuel Moore 9 yds. flannel, at 50c. ; Miss Mary 'P'.raraonds, 3 yds. velvet ribbon, at l-Sc, and 1 pair silk gloves, at 63c., and she has paid me $6.67 to balance her account. 10th. Sold Thomas Rook 1 set buttons, at 75c., 1 hank thread, at 13c., 1 pair buskins, at $1.13, 9 yds. calico, at 12c., and 3 skeins silk, at 4c. 11th. Sold Horatio N. Taft 1 looking-glass, at $8 ; Thomas E. Dorsey, 2 yds. calico, at 8c., 7 lbs. coffee, at lOc, 2 lbs. refined sugar, at 14c., and 1 lb. Young Hyson tea, at 88c. 12th. Sold Ephraim B. Price 9 yds. cahco, at 19c., and 3 yds. calico, at lOc. ; Jonas W. Goodrich, 3 yds. black cassimere, at $2; John M. HoUey, per wife, 10 yds. calico, at 15c., 2 linen handkerchiefs, at 40c., and 8 window glass, at 5c. 13th. Bought of Remson & Polhamus a bill of goods amounting to $13.10. Sold James McElwain, per Newson, 12 yds. calico, at 12c. 14th. Sold Nathan Brittan 1 gallon lamp oil, at $1.25. Bought of Moses Austin 10 lbs. butter, at 14c., 4 doz. eggs, at 10c. Sold Levi S. Fulton 6 lbs. butter, at 14c.; Rev. Ira Ingraham, per wife, 4 yds. ribbon, at 20c., and 4 skeins silk, at 4c. 15th. Sold Justin W. Burnham 3 yds. cam- bric, at lOc, and 2 yds. green baize, at 50c. ; John Adams, 26 yds. muslin de laine, at 25c. 17th. Sold George C. Dean 6 yds. cambric, at lOc, and 3 yds. drilling, at 12c. 18th. Sold Daniel Watrous 2 sheets pasteboard, at lOc, and 5 yds. ribbon, at 15c.; Abram Lh Beaumont, per wife, 3 yds. bonnet ribbon, at 55c., and 4 skeins silk, at 4c. 19th. Sold James Rogers 5 lbs. butter, at 14c. Bought of James Rogers 1 pair gaiter boots, at $2. Sold Horatio N. Taft 1 pair kid gloves, at $1, and 2 linen handkerchiefs, at 44c. Bought of John Adams a bill of goods for L. S. Wood, $3.75. 20th. Sold John M. Holley ^ lb. cinnamon, at 38c., 5 lbs. raisins, at ISc, and 1 oz. nut- megs, at 12c. Sold Rev. Ira Ingraham 7 yds. carpeting, at 85c. 2l8t. Sold George C. Dean 2| yds. cassimere, at $1.50, and 1 yd. sheeting, at 10c. Sold Jonas W. Goodrich 12 yds. calico, at 20c., and 1 hank thread, at 15c. 22d. Sold James McElwain 12 lbs. sugar, at 9c., 5 lbs. old Java coffee, at 15c., and 2 lbs. tea, at 75c. Paid Lucius S. Wood, cash, $25. 24th. Sold Samuel Moore 1 set knives and forks, at $2.75. Samuel Moore has paid me cash, on account, $12. Sold Thomas E. Dorsey 2 gals, molasses, at 50c. Bought of Thomas E. Dorsey, 8 lbs. butter, at 13c.; and he has paid me cash on account, $5. Sold Aaron D. Polhamus 7 lbs. cotton yarn, at 20c., and 11 yds. calico, at 15c. 26th. Sold Daniel Watrous 16 yds. shirting, at 12c., and 1^ yd. Irish linen, at 75c.; Abram L. Beaumont, 11 yds. gingham, at 28c., and 2 yds. drilling, at lie. 27th. Sold Nathan Brittan 1 patent jjail, at 31c., 1 washtub, at $1.25, 6 brooms, at 13c., and he has paid me ca.sh, on accoimt, $8. 28th. Sold James C. Smith 3 yds. black cassimere, at if ' iff 108 BOOK-KEEPING. 'p't:'. $2.25, 1 yd. sheeting, at 12c., and buttons, at 6c.; Reuben H. Foster, 1 lb. Young Hyson tea, at 88c. 29th. Sold Thomas Rook 27 yds. sheeting, at 10c. Bought of Thomas Rook 12 lbs. butter, at 13c., and 4 doz. eggs, at 9c. Sold Levi S. Fulton 5 lbs. butter, at 13c., and 2 doz. eggs, at 9c.; Horatio N. Taft, 9 yds. ticking, at 19c., 1 hank thread, at 12c. ; and he has paid me cash, on account, $10. 29th. Sold Justin W. Burnham 6 yds. merino, at §1.25, 8 yds. cambric, at lOc, 4 sheets wadding, at 4c., and 4 skeins silk, at 4c. Sent Pierce & Wilson, New York, draft at sight on H. Dwight, jr., for $173 ; Magie, Sanderson, & Co., New York, a draft at 10 days' sight, on H. Dwight, jr., for $480 ; Benedict & Rockwell, New York, a draft at sight on H. Dwight, jr., for $227. ij • MAY. 1st. Sold Justin W. Burnham 3^ yds. bonnet ribbon, at 44c.; and he has paid me cash, to balance his account, $16.55. 2d. Sold Daniel Watrous 1 gross screws, at 44c. ; John M. HoUey, 1 pair kid gloves, at $1 ; Thos. Ninde, 3^ yds. calico, at 15c., 2^ yds. do., at 18c., 1 paper pins, at lOc, 10 lbs. sugar, at 10c. ; and he has paid me cash, to balance his account, $9.34. 3d. Sold John M. Holley, per wife, 6 yds. alpaca, at 75c., and 1 pair gloves, at 44c. ; Daniel Ciiapman, 2f yds. linen, at 75c., 3 yds. flannel, at 62c., and one pair gloves, at 44c. ; Moses Austin, SO yds. sheeting, at 10c. 4th. Sold Remsen & Polhamus 31^ yds. satinet, at $1 ; Edward Messenger, 2^ yds. cambric, at lOc, 3 lbs. batting, at lie, and 1^ doz. buttons, at 25c. 5th. Sold Thomas E. Dorsey 8 yds. sheeting, at lOc, 9 yds. do., at 15c., 1^ yds. silk, at $1, 3 yds. ribbon, at 25c., 2 oz. indigo, at 13c., and 1 whitewash brush, at 63c. Edward Messenger has paid me cash, to balance his account, $10.08. 6th. Sold Edmund Hopkins, per wife, 10 yds. calico, at 15c., and 6 yds. do. at 10c. 8th, Sold Reuben H. Foster 17 yds. sheeting, at lie; Jonas W. Goodrich, 12 yds. calico, at 8c., and 6^ lbs. batting, at 12c. 9th. Sold Ephraim B. Price 4 yds. cambric, at lOc, and 2 yds. drilling, at 13c. Bought of Ephraim B, Price 8 lbs. codfish, at ^o. Sold Levi S. Fulton 8 lbs. codfish, at 4^o. Paid him cash, for personal expenses, $14.75. 10th. Sold John M. Holley, per daughter, 1 dress handkerchief, at $1.25, 1 linen handkerchief, at 40c., and 4 yds. cambric, at 10c. 11th. Sold Samuel Moore, per daughter, 1 parasol, at $2.50, and 1 paper pins, at 10c. ; Horatio N. Taft, 1 lb. Young Hyson tea, at 88c. 12th. Sold Abram L. Beaumont, per Ellen, 1 yd. ribbon, at 25c., 5 yds. do., at 8c., and 5 yds. edging, at 15c. ; John M. Holley, per wife, 4 yds. black silk edging, at 44c. ; Edmund Hopkins, 4 yds. shirting, at 12c. ; and he has paid me cash, to balance his account, $6.36. 13th. Sold Thomas E. Dorsey, per daughter, 1 China hat, at $3.75; and bought of him 8 lbs. butter, at 13c. 16th. Sold James McElwain 14 lbs. butter, at 13c., and 2 lbs. Young Hyson tea, at 88c. 17th. Sold Reuben H. Foster, per Susan, 1 parasol, at $2; Moses Austin, per wife, 4 lbs. batting, at lie, IJ doz. buttons, at 25c., 3 yds. ril)bon, at 15c.; and bought of him 16 lbs. butter, at 13c. 18th. Sold Jonas W. Good- rich, per Jlelville, 1 vest pattern, at 88c., and trimmings, at 38c. 19th. Sold Samuel Moore 10 lbs. nails, at 6c.; J.ames Rogers, per wife, 4 yds. towelling, at lOc, 9 yds. shirliug at 15c.. 3 yds driHing, at 12c„ /c, BOOK-KEEPING. 109 3 spools thread, at 5c„ and 3 skeins silk, at 4c. 20th. Sold Abram L. Beaumont 1 roll window paper, at 31c., 1 roll tape, at 6c., 6 yds. French calico, at 25c., and 2 yds. ribbon, at 5c.; John Adams, per son, 26 yds. gingham, at 30c. ; George C. Dean, 10 lbs. cotton yarn, at 20c. 22d. Sold Nathan Brittan 1 paper black tea, at 44c.; Levi S. Fulton, 9 yds. ticking, at 15c. ; Ephraira B. Price, 10 yds. French calico, at 25c. 23d. Sold James McElwain, per wife, 1 parasol, at $2.25, 2 linen handkerchiefs, at 38c., 2 pair cotton hose, at 20c., and 2 papers pins, at 10c. 24th. Sold James C. Smith 8 lbs. rice, at 5c., 2 lbs. tea, at 88c., 8 lbs. old Java coffee, at 15c., and 4 lbs. refined sugar, at 14c. 25th. Sold Daniel Watrous 1 pair kid gloves, at $1 ^ Lucius S. Wood, 1 pair kid gloves, at 88c. ; Levi S. Fulton, 2 linen handkerchiefs, at 44c. 26th. Sold Daniel Chapman 1 cravat, at $1.13, and 3 linen handker- chiefs, at 88c. 27th. Sold Ephraim B. Price 6 yds. merino, at §1 .25, and 7 skeins silk, at 4c. 30th. Sold Nathan Brittan 2^ yds. cassimere, at $2 ; Joseph M. Demmon, 20 lbs. cotton batting, at 9^c. 31st. Sold James Rogers 8 yds, jean, at 16c,; George C. Dean, 6 yds. flannel, at 44c., and 2 yds. Irish linen, at 75c. 12c„ . . - , :', , JUNE. - "• • 1st. Sold Abram L. Beaumont 7 yds. blue calico, at 12c., 12^^ yds. summer goods, at 23c., 6 yds. factory, at lOc, 10 lbs. cotton yarn, at 20c., \\ doz. buttons, at 4c., and 1 hank linen thread, at 13c. ; Nathan Brittan, 2 pair cotton hose, at 38c. 2d. Sold Moses Austin 2 rolls window paper, at 31c., and 2 palm-leaf hats, at 20c. ; and he has given me his note at 30 days, to balance his account, for $17.61. Sold John Adams 4 bbls. salt, at $1, 32 lbs. refined sugar, at 13c.; and he has paid me cash, to balance his account, $77.80. 3d. Sold James Rogers 4 yds. gimp, at 25c. ; John M. HoUey, 11 yds. lawn, at 31c., 1 yd. drilling, at 13c., and 2 pair whalebones, at 4c. 5th. Sold Thomas Rook 1 vest pattern, at 75c., 2^ yds. cassimere, at $1, 5 yds. lawn, at 20c., 1 pair walking shoes, at $1, 1 bonnet, at $3, 2 spools thread, at 6c., and 4 lbs. coffee, at 10c. Bought of him 37^ lbs. butter, at 13c., 8 doz. eggs, at 10c. ; and he has paid me cash, to balance his account, $19.55. 6th. Bought of George C. Youngs 20 lbs, ham, at 8Jc., 31 lbs. do., at 8c.; and he has paid me cash, to balance his account, $2.66. Sold Lucius S. Wood 5 yds. brown linen, at 31c., and thread, at Gc, 7th. Sold James Rogers 10 yds. linen gingham, at 38c., 6 yds. sheeting, at lie, 2 yds. edging, at 15c., and 2 skeins silk, at 4c. ; Ephraim B. Price, per wife, 1 parasol, at .$2.25. 8th. Sold James McElwain 1 bar soap, at 16c. ; Daniel Watrous, 4 yds. linen goods, at 31o., button.s, at 6c. ; and he has paid me cash, to balance his account, $17.14. 9th. Sold I'homas E. Dorsey, per Juliet, purse twist, 75c., and steel beads, 75c. ; George C, Dean, 2^ yds, gingham, at 31c, 10th. Sold Nathan Brittan 12 yds. barred mull, at 31c., 2 pair cotton hose, at 38c.; and he has given me his note at 3 months, to balance his account, for $;j8.25. 12th. Sold Abram L. Beaumont 8 lbs. nails, at 6c. ; John M. HoUey, 3 yds. edging, at 8c., 3 spools thread, at 5c., and 2 skeins (silk, at 4c. James Bashford has paid me cash, to balance his account, $11.82. 13th. Sold Daniel Chapman 10 yds. alpaca, at 75c., lOJ yds. calico, at 7c., 1 yd. cambric, at lOc, and 1 yd. drilling, at ISo. Paid Levi S» k7:i ill 1:1 u 110 BOOK-KEEPING. Fulton cash, for personal expenses, $25. 1 4th. Sold James C. Smith 13 yds. shirting, at 13c., 2^ yds. Irish linen, at 88c., 5^ yds. calico, at 7c., 3 spools thread, at 5c., and 4 skeins silk, at 4c. George C. Deaa has paid me cash, to balance his account, $27.14. 15th. Sold lleuben H. Foster 2 gals, molasses, at 44c., and 1 gal. lamp oil, at $1. 16th. James McElwain has given me his note at 3 months, to balance his account, for $33.61. Sold Aaron D. Polhamus 1 yd. satin vesting, at $3.25, 1 yd. black cambric, at lOc, 1 yd. white do., at 13c., and ^ doz. buttons, at 25c. 17th. Sold Thomas E. Dorsey 8 yds. blue calico, at 13c., 4 yds. sheeting, at 8c., 8 lbs. batting, at 12c. Bought of him 18^ lbs. butter, at 13c.; and he has paid me cash, to balance his account, $27.24. 19th. Reuben H. Foster has given me his note at 3 months, to balance his account, for $17.77. Sold Samuel Moore 2 rolls window paper, at 31c., 3 brooms, at 18c. ; and he has given me his note at 30 days, to balance his account, for $16.03. 20th. Sold Ephraim B. Price 14 yds. shirting, at 12c., 2 yds. linen, at 75c., 4 yds. calico, at 6c., and 1 doz. spools thread, at 63c. 21st. Sold Abram L. Beaumont 11 yds. Oregon plaid, at 31c., 1 yd. drilling, at 13c., -J yd. cambric, at lOc, 1 spool thread, at 5c. ; and he has given me his note at 60 days, to balance his account, for $62.63. 22d. Daniel Chapman has paid me cash, to balance his account, $59.62. Sold Jonas W. Goodrich 9 yds. gingham, at 28c., trimmings, at 31c.; and he has paid me cash, to balance his account, $16.88. 23d. John M. Holley has given me his note at 6 months, to balance his account, for $40.74. Sold Bev. Ira Ingraham 4 pair cotton hose, at 40c.; and he has paid me cash, to balance his account, $41.84. 24th. Sold Hugh Jameson 3 yds. satinet, at 75c. 27th. Credited Aaron D. Polhamus for the balance of his account, charged to Eemsen & Polhamus, $38.82 ; and charged Remsen & Polhamus for the balance of A. D. Polhamus's account, $38.82. Bemsen & Polhamus have paid me cash, to balance their account, $20.77. 28th. Sold James C. Smith 30 yds. sheeting, at 10c. ; and he has given me his note at 3 months, to balance his account, $28.26. 29th. Hugh Jameson has paid me cash, to balance his account, $21.45. Sold Horatio N. Taft 3 yds. black cassimere, at $2, 2^ yds. sheeting, at lOc, 1 spool thread, at 6c. ; and he has given me his note at 60 days, to balance his account, for $34.67. 30th. Sold Ephraim B. Price 18 yds. brown factory, at 10c. ; and he has given me his note at 4 months, to balance his account, for $35.44. Credited Lucius S. Wood for 6 months' services as clerk, at $20. Paid him, cash, $35.74, and given my note at 4 months, to balance his account, for $50. Gave Philip G. Almy my note at 30 days, to balance his account, for $42. James Rogers has paid me cash, to balance his account, $17.14. Joseph M. Demmou has paid me cash* to balance Lis account, $80.21. isen .82. mt, he .26. .45. at lys, 18 ths. G. les m \'mm ! %i r I! 4 ,,'i I :» 112 BOOK-KEEPINO. Petty Cash-Book. This book is intended for the cash account, so that by- referring to it we may at any time ascertain the amount of cash on hand, and, furthermore, by comparing the amount, as represented by the book, with the amount actually on hand, we may detect any error in expenditure. This book should be ruled like the Journal, as in the form on the following pages. The word Cash should be written in a bold hand at the top of the page, near the centre, with Dr. over the left-hand money columns, and Cr. over the right. The receipts of cash should be entered in the debit columns, and the disbursements in the credit columns, and balanced every night. For example, see the opposite page. This book may be written on the last three or four pages of the Journal. In order fully to illustrate this account, I have given a memoranda of cash receipts and expenditures for January. In order to make the method perfectly plain to the pupil, I have given on the opposite page the form of entry, as far as January 7th. The pupil will, after carefully studying the explanation, enter the following memoranda : — MEMOHANDA. Jan. 3d. Invested in business, $2000 ; paid expenses to New York, Jf^ $37; bought merchandise, $1805 ; paid freight on merchandise, $124. /J. Bought wood of Westfall, $8 ; paid postage, 37c. ; received for mer- chandise sold this day, $5.84. 5th. Paid for sundries, $1.57 ; paid for sawing wood, $3; paid for cartage, $1.75 ; received for sales this day, $4.92. 6th. Paid for advertising in Western Whiy, $3 ; paid for adver- tising in Wayne Co. Herald, ^i. 50 ; paid for postage, 25c.; received for sales of merchandise this day, $10.27. v^, n. aiy. I as the ''ork, 5124. mer- dfor day, dver- jived m^ r^. c/an. 3 «J^o Ky/acK 2,CCC 00 ty^eicA o^iyune/ c^idoMj tJ^'ie^aA/ on ty€6eicnaneu Vi <2) I <2> Vi >si Vi VO hi tv '-J ^> ^^ ^ I ^ ^ ^1^ ^ -:?!» ^ •Si !(5 c\ I v|. I \ 1%^ "S5 «>. ^ ^ ■ ^ ^ ^ Vi ^ i^ ^ «3 §N ^ ^ ^1 ^ '^ 116 ^ 1 ^ *r> ^ BOOK-KEEPING. 117 Account Sales. An Account Sales is a statement of goods sold on com- mission, drawn up by the agent to whom they were con- signed, to be transmitted to the person who made the consignment. For example, a person in New York having a quantity of goods to dispose of, sends them to a person in a section of the country where they are likely to find ready sale. The one to whom they are sent is called the agent ; the goods, the consignment; and the amount received by t ) agent for selling, the commission. Form OP Account Sales. • ,S/cc^o^^, J\/?^. /(J^^C? tAVar^ ss 36^ ./ifd. 6^ //j. J^aU. .. ., 6^5 ^ (?/ <. 30 S^/ ^ ^5 „ sp *, m ■/34S ^ ^/^—ZS^/Z^J. .C4\ X/c/U6<:^e4 /• r«. ^ Recced ^eac^ed 7^ ^33 ^4. /^ — 6^6' /<^. .// y6 66- %/3S M m /o ^^iat'(/Xy//^€< c^ne /674, /^4^. S. ^ (P. Sccce^/fC^. ■^ ]'^ %.' '' if :i at a a o <0 I ^ P d V v\ ^ (s^l q:^ i3:j^ <>) ^ i > 3 a- o V ■^ 1 V ^. .\ 1 s¥ ^1 s^ >«: ^ l^^^^^ci^^^ V <^ CV) ^ *o No t\^ O^ 118 BOOK-KEEPING. 119 Bills Receivable, All written obligations for the payment of money, which you hold against other individuals, are called Bills Receiv- able, and should be entered in the Bill-book when taken. By referring to this book, the time that notes become due can be ascertained without referring to or examining your package of notes. Notes received are usually labelled and put away in a safe place, so that constant reference to them would be inconvenient : hence the utilitv of this book. When the business is so large as to involve many notes, they are usually arranged so that notes falling due in the same month are in one package, — the notes of each month forming a separate package. The page of the book should be divided into twelve spaces, as on the opposite page. Eacli space should then be labelled as on opposite page. The first note received was that of Moses Austin, dated June 2, 1848, for $17.61, for thirty days. It being the first note, we place its number (1) in fii"st space, the name of maker in the second, the one to whom it is payable in third, the amount in fourth and fifth, the date of note in sixth and seventh, the time it has to run in eighth; then, comput- ing I flirty days from June 2d, and adding in the usual three days of grace, we find it becomes due on July 5th, and so inter that date in ninth and tenth spaces. If it had been made payable at any particular place, we would have put the name of that place in the eleventh space, and any particulars as to payment, tkc, in the twelfth space. The other notes were entered in the same way. li II r I a I u ^ ^ a Q a a O o o "o 6 O ^'^ ^ ^ s \i O ^ J to ^^ t^ ^ ^ ^ ^ §^ ^ «b ^ "^ ^ ^ 2b vi ^ ■^ &. ^2 ^ '^ ^ ^ 4 ^ V ^ o o 1 V <5^ Ot) v>^ »0 NQ) 120 n a =3 q 9 ■d fl ^ q 9S u C3 . 0) -^ o bo © OQ © © © -ta -*a .4 ■^ .2 -d © © ^ a t^ © m © .2 © «'=' aj © op II SI, S ** 3 •pi 'o 3 , ^ §^ o fS 2 fl ^ -^ i ?^ V? "^ N 'o N^ ^ ■ ^^ ^ % : • . ^ ^^^ , i Vo ^i cv, ev) ^ ®5 M * * ' ' ^ '^ * 5 ^ ^ ^ 1^ ' i ' 4 121 < * § § K « e e3 -8 g «3 43 *tH .rt "3 O ^ 2 »-i <1> 2 ,• «3 .S 15 -=1 00 ^ •1°- a 03 OQ d 3 CS rd CtH c3 o oa j^ QQ ^4 -e ^ a> o fl e8 -tJ u 60 0) •s anil's el « ^ te c/U'^^ 6 2/ 24 / (7^ ^c iatance ■Cinua/i/ acwn . ^a,/i3e/^. ^ ^ Jf J^^^« ao. ,=^eA. ^9/ Jz,. %y. i/(/ooa . c/o. ^. ^ ^. ^ m.//o,> $625.00 o/fi! cSa'Utnce 'Cio€(a/i/ aown :i.i. ^SO SO S20 S2C 400 60 60 S4^ CO 00 00 00 00 00 00 00 00 00 /^.S 60 Bank-Book. This is a book usually given by banks to persons depo- siting money with them. On the Br. side is entered all sums deposited, with the date, and name of the individual by whom deposited : this is done by the receiving clerk. 122 «. St fpo- all lual Irk. 'ulm. r^. (27. -4^ CO • •- ♦ . ' -• *-' '.* *" ^ '■- . ,-",'; '' ",; ■■ . - / ■/ ./■ 1 At the close of the month, the amount drawn out should be placed on the Cr. side, and the book balanced. The sum total of the deposits for the month should be transferred to the Dr.y and the amount checked out during the month to the Cr. side of the bank account in the Ledger. 123 1:1 n? t I i cq inr, * »»<. ^ ^ 5i ^ I Si Vi ^^ >* 4» ^ "^ ^ ^ ^ 5 Vi ^ «^ 124 s ^ \ \ 9f \: BOOK-KJEEPINO. Bill of Purchase 125 Is a statement of goods bought at one time, containing the items and prices. If paid at the time, it should be receipted and signed, as in the form on the opposite page ; but if charged, in the place of Received Payment^ write Charged in Account. Bills of Purchase, or more properly Invoices, should be carefully examined, folded of a uniform width, and filed away ; and as merchants generally purchase goods periodi- cally, the date of purchase may be written on the band en- closing them. On the first day of January in each year, or at the time of balancing the books, the Invoices for the past year should be put into one package, and the year in which the purchases were made written on the band enclosing them. All orders should be filed away in monthly packages, with the month written on the band enclosing them, so that when settling with an individual whom you have charged with goods per order, if he dispute your book, you can imme- diately refer to the order. Care should be taken to have all papers, intended to be filed away, folded of a uniform width, for the simple reason that they thus form neater packages. #' ■^ V iS> 1^ c^ \:$ ?N^ ? ^ ^ ^^ ^ ^ ^ ^ «b ^ b* ^ ^ ^ V ^ -^ ^^ H(J» «I(N ^ S §^ \ S? ^ \ ^ S^ ^ ^ \ Is I vb I ^ .^ ^ :^ ^ ^ ^ s> ^ ^ ^ ^ * « » « » * 1^ V ^ ^ ^ V ^ «b ^ ^ '1 126 f BOOK-KEEPING. 127 Bill op Account Is an accurate statement of an individual account, copied from the Day-book, containing a list of the items, the prices, and the date of each purchase. It is sometimes drawn off by the merchant, and sent to the customer, and often at his request. If paid, it should be receipted and signed by the merchant, as in form on opposite page. Note. — The teacher should enforce these principles, and make the pupil proficient by directing him to draw up specimens of the different accounts, &c., that have been explained. GENERAL QUESTIONS. What is Book-keeping? How many forms have been given in single entry? Explain Form Ist. Form 2d. Form 3d. What is the Cash- book? What is its use? What does the balance in the Cash-book show ? What is the word Cash derived from ? How many forms of ruling the Cash-book are there ? How often should it be balanced ? What should be entered in the debit column of Cash-book ? What in the credit column? What are Bills Receivable? What is a "Bills Receivable-book?" For what is it used ? Describe its ruling. What do the numbers in the first column of Bills Receivable-book indicate ? Name in the second, &c. ? What are Bills Payable ? Describe the " Bills Pavable-book." What is a Bank-book ? What is entered on debit side of it ? By whom are these entries made? When is the amount drawn out en- tered ? Why is this book used ? What is an Account Current ? When is it drawn off? What is it for? What is an Account Sales? What is the person called to whom the goods are sent ? Describe an Account Sales, its ruling, entries, &c. What is a Bill of Purchase ? If paid, what should be done ? If the goods are charged, what should be done ? What are " Bills of Purchase " more properly called ? What should be done with these ? What use may be made of them ? How can you form neat packages of them ? Why should you have the packages neat ? Are neatness and precision very necessary in Book-keeping transactions i What is a " Bill of Account ? '* What is stated in it ? Ik il 1 1 r i) 1 i i 1 BOOK-KEEPING. PART SPXOND. Ill ' ' i^M f , M ■^i DOUBLE ENTRY BOOK-KEEPING. DOUBLE ENTRY. This term is derived from the fact that every business traiiHaction recorded in the Day-book is entered twice in tlie Ledger — once on the debtor and once ou the creditor side. DEBTOR AND CREDITOR. • Th(ise terms are correlative ; the one implies and involves the otl\ei*. Wlierever there is a debtor, there must neces- sarily be a creditor of an equal amount ; and wherever there is a creditor, there must be a debtor, &c. APPLICATION OP DEBTOR AND CREDITOR. In single entry these terras are (with the exception of cash) only applied to persons, but in double entry they ar(! ap])licd alike to persori and property, the persons beincj made debtor for wlat you have trusted them, and creditor for what they havo i; aid or trusted you ; and the property accounts being made debtor for the value or cost of the property, and creditor for what it produces when disposed of. CLASSES OF ACCOUNTS. There are three classes of accounts in Book-keeping, styled Personal, Real, and Fictitious. Personal accounts are the accounts of the persons with whom the merchant deals ; Real accounts are the accounts of his property ; and Fictitious accounts are titles invented to represent the mer- chant and his gains or losses in business. to pla pos^ BOOK-KEEPING. 131 *\l BOOKS USED. The priiK i|.;il bonks used nre the Day-book, Journal, and Ledi:jer. The auxiliary books vary accordincf to tlio nature of the business, and are the Cash-book, lilU-book, Invoice- book, Sales-book, Account-Current-book, Book of Shipments, Letter-book, Keceipt-book, tkc, &o. DEFINITION OF BOOKa DAY-BOOK. * ' '" '""■' ' '■ ' ' This book should contain a concise and coni])rehonsive history of the merchant's business transactions; connnencing with an inventory of his effects, and the debts due him, also of the debts due by him to others. After this, his business transactions should be recorded at the time and in the order in which they occur ; they should contain the date, the name of the person, the condition of the baigain, and price of the goods. In writing this book, every thing should be clearly expi'essed in as uniform a style as possible, and the use of ambiguous words and phrases carefully avoided. JOURNAL. This is a book in which the business transactions recorded in the Day-book are prepared to be entered in the Ledger, by ascertaining the proper debits and credits of each trans- action. This process is callGd Journalizmg, LEDGER. ■ ■ ■ i"';^!;"' ■• "■'"' »' ' • ■ This is a book in which a page, or portion of one, is al- lowed for every account found in the Journal, with the name of the account written over the space so a])propriated, to which the accounts are transferred from the Journal and placed under their respective heads. This process is called posting. I % i : -I'i 132 BOOK-KEEPma ALPHABET OR INDEX. In order that the accounts in the Ledger may be more conveniently referred to, an alphabet or index is made by arranging the names of the accounts alphabetically, and placing opposite the name the number of tie page on wliich the account may be found in the Ledger. I ■ -i'ii AUXILIARY BOOKS. A merchant's accounts may all be kept in the Day-boolc, Journal, and Lodger ; but in most kinds of business, for the sake of abrid^inj; these books, it is found convenient to have other books. These vary in number according to the nature of the business, and are termed auxiliary books, and are as follows : — « Cash-book. — For definition and manner of keeping this book, see pages 115 and IIG. Bill-book. — For definition, &:c., see page 120. Bank-book. — For definition, (fee, see pages 122 and 123. Account- Current- book. — For definition of Account- Current, see page 121. The Account-Current-book contains simply copies of these accounts. Account-Sales-eook. — For definition of Account-Sales, see page 117 The Account-Sales-book contains copies of these accounts. Sales-book. — This is a book in which all sales of goods are entered at the time they are sold. After a purchaser has made his selection of goods, they should be entered in this book, from which his bill is coined. His name and the sum total of the sale are transferred to the Dav-book. Invoice-book. — This is a book in which are copied all bills of goods purchased. It is sometimes made of coarse paper and the original invoices pasted into it. Letter-book. — This book contains copies of all business- letters. Jgll BOOK-KEEPING. 133 DEFINITIOX AND OBJECT OF ACCOUNTS.. of ds ^er I ill Ihe ill pse |ss- . . . FICTITIOUS ACCOUNTS. ,....> :, Stock Account rcprosonts the mercluint, and is made Dr. for wliat lie owes Avlieu he commences busine.ss, and Cr. for wliat he carries into business. Tlie difl'erence between the Dr, and Cr. of this account is his net capital. Profit and Loss Account is kept to sliow the fin'm or Ajy.s arisiiiij iVom businc.'^s, and is made Dr. for all losses and Cr. for all chains. The ditrcrence between the Dr. and Cr. is the ncfc gain. • - : ' ' ' ' Interest Account is kept to show the gain or loss on interest. It is made Dr. fca- all sums paid for interest, and Cr. foi' all sums received for interest. The difference be- tween the Dr. and Cr. sliow^s the gain or loss on interest. Expense Account is kept to show liow much has been [)aid for store ex})enses, such as clerk hire, store rent, freight, cartage, ])orterage, postage, kc. For all such expenses this account is made Dr. ; the Cr. side contains nothing until the books are baliuiced. ' ^f / - . . ■ HEAL accounts. Merchandise Account. — This account is kept to show the gain or loss on goods bought and sold. It is made Dr. for the value of men /I •. ndi.se on hand commencing business, and for the am> n\ fall subsequent })urchases ; and Cr. for the amoun*; .;' all .ales. If the merchiandise is all sold, the dilference ' 'it^ een the Dr. and Cr. will be t'le gain or loss on merchrntfise. If the goods are not all sold, the value of the balance r/iiKiiuing unsold .should be ' 1 on the Cr. side, and the 'iillerence will tlien be the gain or loss. Keal Estave Account is kept to show the gain or loss on real estate. It is made Dr. for its cost — as ])urchase-money, repairs, taxes, ttc, and Cr. for wh.ib it pioduces, either in rent or sales. If it is not all sold, tli" value of what rem:iins unsold should be placed on the C'/ . side o( the account. The diilereu';.-} between the Dr. Vixd Cr. .v'.ii !>e the gain or loss on reid estate. Shipment or Co:;sign.\ien': 'vCCOj? r is kept to show the gain or h)ss on property cons'gu ju hy the merchaut to some fe^, s 184 BOOK-KEEPING. person to sell on his account and risk. It is made Dr. for what the consignment costs him, that is, the value of the goods, freight, insurance, &c., and is made Cr. for the net proceeds of the sales. The difference between the Dr. and Cr. of this account is the gain or loss. James Holmes' Consignment Account is kept wl.on goods are consigned by him to the merchant to be sold on his account and risk. It is made Dr. for all expenses you incur on account of the consignment, and Cr. for the amount of all sales. The difference between the Dr. and Cr. of this account is the net proceeds, and should be placed to the Cr. of Holmes' personal account. Wheat Account is kept to show the gain or lo-^ on wheat as a separate branch of business. It is made Dr. for all sums paid for wheat, and Cr. for all sums received for wheat. The Dr. side of this account showing the cost, and the Cr. side what it has sold for, the difference between tlie two sides will of course show the gain or loss on vvrheat. Cash Account is kept to show the receipts and disburse- ments of cash. It is made Dr. for all receipts of cash, and Cr. for all disbursements. The difference between the Dr. and Cr. of this account is the amount of cash on hand. Bank Account is kept to show what money is deposited in the bank. It is made Dr. for all sums deposited, and Cr. for all sums drawn out. The difference between the Dr. and Cr. of this account is the sum you have remaining in the bank. Bills Receivable Account is kept to show the amount of written obligations which you hold against other persons for the payment of money. It is made Dr. for all such bills when they are received, and Cr. for all that have been re- deemed. The difference between the Dr. and Cr. of this account shows the amount of Bills you hold against other persons. ' •' ■ ' ' ' ■• -• ■■ ■''■■.,; Bills Payabll, Account is kept to show the amount of written obligations given for the payment of money that have not been redeemed. It is made Dr. for the amount of all such bills when they are redeemed, and Cr. when they are jriven. The difference between the Dr. and Cr. of this account is the amount of your Bills that remain unpaid. ! !^1 of ley Ilia BOOK-KEEPING. DIRECTIONS FOR JOURNALIZING. 135 Journalizing is ascertaining the proper Drs. and Grs. of every business transaction recorded in the Day-book, and writing them in the Journal. This requires a little thought. Whenever a transaction occurs, the book-keeper should reflect for a moment, and see what part of the property is affected by that transaction, and then the accounts that represent that property are the accounts to be made Dr. and Cr. Every Dr. must have a corresijonding Or. of equal amount, and every Cr. must have a corresponding Dr. of equal amount. If the transaction takes from one part of your property and adds to another, the account from which it is taken is made Cr., and the one to which it is added is made Dr. Whenever you buy property, the account re})resenting that property is made Dr. to what you give in payment for it ; or, if you buy it on trust, it is Dr. to the person that trusted you ; and when you sell that proi)erty, it is made Cr. by what you receive in payment for it -, or, if it is sold on credit, it is Cr. by the person trusted. For example, if you buy merchandise of Lee, Judson, & Lee, on account, $500, Merchandise would be Dr. to Lee, Judson, & Lee, $500, and Lee, Judson, & Lee Cr. by Mer- chandise, $500. If you pay them cash for it, Cash would be Cr.; if your note. Bills Payable would be Cr. Or if you sell merchandise on account to J. M. Demmon, he would be made Dr. to Merchandise, and Merchandise Cr. by J. M. Demmon. If he paid you cash, Cash would be Dr , or gave you his note, Bills Receivable would be Dr. If you gave your note to Lee, Judson, & Lee on account, they would bo made Dr. to Bills Payable, and Bills Payable Cr. by Lee, Judson, «fe Lee. When you redeem that note with casli, Bills Payable would be Dr. to Cash, and Cash Cr. by Bills Payable. If J. M. Demmon gives you his note on account, Bills Receivable would be made Dr, to J. M, Demmon, and J. M. Demmon Cr. by Bills Receivable. When he redeems that note with cash. Cash would be Dr. to Bills Receivable, and Bills Receivable Cr. by Cash, 11 ;t,i ^■A 13G BOOK-KEEPING. DIEECTIONS FOR POSTING. PosTiXG is transferring the business transactions from the Jonnial and jtlacing them under their respective heads ia the Led'^'cr, Commence with tlie first transaction recorded in tlie -Journal : suppose, for example, it is Jose[)h M. Dem- mon Dr. to Merchandise. You will first turn to Joseph M. Deniniou's account in the Ledger, and enter on the Dr. side of his account, To merchandise (entering the date, journal page, A amount, as directed on page 61), then make a dieck-'> ' ^nposite the name in the Journal, to signify that it has bce»' ^tosted ; then turn to the Merchandise Account, and enter ou ^uQ Cr. side, By Joseph M. Demmon, entering the date, journal page, and amount, and making the check- mark as in the preceding entry. It will be observed, in making an entry in the Ledger, that the account to be deb- ited is made Dr. to the account that is to be credited for the same amount, and the account to be credited is made Cr. by the account debited. Where there is more than one Dr. or Cr. in the same transaction, the expression used in posting is To or By Sundries. • TO THE PUPIL. After becoming familiar with the instructions given on the preceding pages, and tracing through the examples on the five following pages, you may copy the Day-book, commencing on page 144, in your blank Day-book ; then lay aside the printed book, and on a sheet of waste paper journalize the Day-book entries according to the directions pre- viouslj' given ; then compare with the printed Journal to see if you have journalized correctly ; then post to the Ledger as above directed, independent of the printed book, and make out your Trial Balance and Balance Sheet as directed on pages 191 and 197 BOOK-KEEriNG. l.ST GENERAL RULE FOR JOURNALIZING. The thing received, oi* ])eison trusted, is made Dr. "To" the thing parted with, or i)erson wlio tru.^t.s yon ; and the thing parted with, or person who trnsts you, is made Cr. "By" the tiling received, or person trusted. Profit and Loss is made Dr. for all losses, and Cr. for all gains. Every Dr. must have a Cr. of equal amount, and every Cr. must have a Br. of equal amouut. EXERCISES IN JO URNALTZING. i"g ;ea, ink liste )re- ive led, bee Transactions. Sold D. W. Clark, on acct., nierch., $200. Boh of D. W. Clark, on acct., niercli., Sl'OO. D. W. Clark lias paid mo cash, on acct., §200. raid D. W. Clark ca.sh, on acct., $200. Sold W. W. Iliirt, on liis note, 30 days, niercli., §175. Bot. of W. W. nart, on my note, CO days, nierch., $'-'50. W. W. Hart has paid his note, in cash, §175. Paid my note to W. W. Hart, in casl;, S2.J0. Sold J. n. Holmes, morch.. $150. Re- ceived in jiayinont his note lor $200, and cash tor the balance, §200. Bot. of J. H. Holmes, merch., $500. Gave in payment my note tor §20i, and cash for the balance, §250. E.Kchaugedthcabovc notes with Holmes, §250. Bot. of J. Dimning his house ar.d lot on ^Ill-ill/ Street, §2000. Gave in pay- ment, cash, §1000, mcrch., §500, ami my note for the balance, §500. Sold my house .and lot on Spi'inor Street for §2500. Ilccoived in payment S. !S. Clark's note, 15 months, §1000, cash §1000, and mcrch. for the balance, §500. The Commercial Bank has discounted S. Sb. Clark's note lor §l(i00. Discount, (17.50; cash received, $982.60. Journalized. D. W. Clark, Dr., $200. Merch., Cr.,$200. Jlorch., Dr., §::00. D. W. Clark, Cr., §200. Casli, Dr., §200. D. AV. Clark, Cr., $200. D. W. Clark, Dr., §200. Cash, Cr., $200, Bills Receivable, Dr., §175. Mcrch., Cr , §J75. Mcrch., Dr., §250. Bills Payable, Cr., §250. Ca'sh, Dr., §175. Bills Receivable, Cr., §175. Bills Payable, Dr., §250. Cash, Cr., §250. Bills Receivable, Dr., $250. Cash, Dr., H'KH). Mcieii., Cr., §150. Mcrch., Dr., §500. Bills Payable, Cr., §250. Cash, Cr., §250. Bills Parable, Dr., §250. Bills Receiv- able, (.'r., !r250. Rcid Estate. Dr., §2000. Cash, Cr., ylOOO. .^Icrcli., Cr., §500. Bills jiay- able, Cr., §JtiO. Bills Receivable, Dr., $1000. Cash. Dr., §1000. Motch.,Dr.,.^500. Real Estate, Cr., §2500. Cash. Dr., §082.50. Interest, Dr., $17.60. Bills Roccivablo, Cr., §1000. r||» p I 138 BOOK-KEEPING. Transactions. Holmes & Co,, New York, consigned an invoice of goods to mo, to be sold on their account, §575. I have paid for freight and charges, in cash, $34. I have consigned goods to Holmes & Co., New York, to be sold on my account, invoiced §645. Paid freight and cart- a},'0 on do. in cash, $36.50, and gave my note for insurance on do., §19.35. Sold Holmes & Co.'s goods for $659. Re- ceived in payment P. Almy's note for §300, and cash for balance, §350. Received an accoimt sales of goods con- sitfiied to Holmes & Co., New York. Net proceeds amount to §716. P. Aim V has paid his note, with interest. Note; '=>3^0; interest, §5.25 = §305. 25. Holr. d o Co., New Yoi-k, have remit- ted mo a Bill of Exchange on James Anderson, lor $716. Bot. c' ' Jon - ;; Co., for cash, a draft on No. .. "fork tor§583.50, at a premium of J of 1 per cent., §2.92, wliich I have remitted to Holmes & Co. , Now York. Dean Tisdale has made a draft on mo at 30 days' sight, which I have accepted, for §125. Paid D. Tisdale's draft on me as follows : iu merchandise, .$75, and gave him an order on W. W. Uai't for ^50. John Doe has failed, and I have sold the note I hold against him, of §?50, for $10i). Received in payment cash. Bot. a quantity of broadcIotVi, in com- pany with B. Hartford, §250. Paid cash for my half, §125. P'^t. of W. W. Ely, for cash, 100 bbls. of flour for §650, which I immediately sold for §750. Bot. of F. Cate, for cash, 2000 lbs. of tallow, for §160, which I immediately sold for §140. Commenced business with cash, $2000. Commenced business with cash, §1000, niercii., §1000, and notes against sun- dry persons, §500. Commenced business with cash, §500, merch., §500, notes against sundry Sersons, §500, real estnte, vahicd at 1000; and owe D. Hood, on acct., $250, sundry persons on notes, §500. Commenced business with ca.sh, $800, merch.. which I bought as follows — of Stewart & Co., on account, $1700; of Bowen & M'Namee, on my note at eo days, $1500. Journalized. Holmes & Co.'s consignment, Dr., 934. Cash, Cr., §34. Consignment to Now York, Dr., $700.85. Alerch., Cr., .§645. Cash, Cr., §36.60. Bills Receivable, Cr., $19.35. Bills Receivable, Dr., $300. Ca.sh, Dr., §350. Holmes & Co.'s consignment, Cr., -- Holmes & Co., Dr., $716. Consignment to New York, Cr., §716. Cash, Dr., $305.25. Bills Receivable, Cr., $300. Interest, Cr., $5.25. Bills Receivable, Dr., $716. Holmes & Co., Cr., §716. Holmes & Co., Dr., $583.50. Interest, Dr., $2.92. Cash, Cr., §586.42. Dean Tisdale, Dr., $125. Bills Payable, Cr., $125. Bills Payable, Dr., §125. Merch., Cr., $75. W. W. Hart, Cr., $50. Ca.sh, Dr., $100. Profit and Loss, Dr., §150. Bills Receivable, Cr., §250. Merch. Co. A., Dr., $125. Cash, Cr., $125. Cash, Dr., $100. Profit and Loss, Cr., $100. Profit and Loss, Dr., $20. Cash, Cr., $20. Cash, Dr.,S2000. Stock, Cr., $2000. Cash, Dr., §1000. M.rch., Dr., §1000. Jiills Receivable, Dr., $500. Stock, Cr., §2500. Cash, Dr, §500. Merch., Dr., §.500. Bills Receivable, Dr., §500. Real Estate, Dr., $1000. Stock, Cr., §2.500. Stock, Dr., §750. D. Hood, Cr., $250. Bills Payable, Cr., §500. Cash, Dr.. §800. Merch., Dr., §3290. Stock, Cr., §4000. Stock, Dr.. §3200. Stewart & Co., Cr., §1700. Bills Pay. able, Cr., $1500. ii- Bills ttate, ItOL'k, 1 Bills I32OO. I32OO. EXAMPLES. Day-book Entry. ^yc^/a ^yijaac cru). cyainc<^on an tS^fc/. (yWeic/i. /tit ly. d^. /t«ue / soo 00 £^a/. o/cf. 9'€amtY/on ^/6tic/i. ^ici J. £/3. ^iaj^e / %6^00 ^ave ■t}i /ii-(f///}ieA/ '>}if^ -!?!» •fHU90 •s'.n:[Ioci "oiJiiJ iiui.inof* ' J . ■ ■■ . ■ > .3 3 ». 1^ •^rci •qiuore B^UOO ^ <^ •sjunog V ■oS'id |i?aatiof ^ ^ *3 a s; H ^ -N* Vo 1 ^ ; . ■ •Ava 1^ •q^uoK ^ Ci ^ ^ <^ ^ V -:^ .^ « K -^ ^ v> ^ ^ «o V i ^ s: -^ -■■ ■? ' f f ; V) 1 ' • ..^ ^ V ','■ ' ~ , «_ ■ :; . ' :-■-.■". i ,!"■■'-.■,, ■ =■. ■ ." $^ 1 ^ -::^ ^ ^ ^ ^ ^ v >> ^ ■ ■ ) s . i^' ^ •S '' ' ,('■.-' ^ 1 ' ^ ^ '^ V S^ ^ 1 ^'1 . .' , " - .•; ■• ■ - ,- • ,..-„', .-.'■-: ■ . •■ ^ ill 141 142 BOOK-KEEPING. 1 ! I GENERAL QUESTIONS. Of what doeg Part Second treat? From what is the term Double Entry derived? What kind of terms are "Debtor and Creditor?" What is meant by correlative terms ? To what are these terms ap- plied in Single Entry? To what are they applied in Double Entry? What are persons made debtor to? For what are they made creditor? For what are jiroperty accounts made debtor? For what, creditor? How many classes of accounts ? Name them. What are Persouai accounts? What are Fictitious accounts? What are Ileal accounts? What Books are used? How many principal ones? Name them. Name the auxiliary books. What should the Day-book contain? What should it commence with? What should be entered next? In what order? What four things should each entry contain ? Name them. What style of writing should be used in this book? What should be avoided? What is the Journal ? What acc(junts are entered in it? What is the use of this book ? How are accounts prepared for the Ledger ? What is the pro- cess of transferring accounts from Day-book to Journal called? What is the Ledger ? How much space is allowed for each account? What is written at the head of the page ? How do we transfer accounts from tlie Journal to this book? What is the process called? What book is used with the Ledger, to enablo the book-keeper to find the accounts more rapidly? Describe it. CouM a merchant's account be kept in these three books? Why use auxiliary books? What is the C^sh-book? What is the Bill-book? What is the Bank-book ? AVhat is the Account-Current-book ? What is the " Account-Sales-book ?" What is the " Sales-book ?" Describe method of using this book? What is the Invoice-book? What is the Letter-book? What does the Stock account represent? What is entered on the Debit side of this account ? What is entered on the Credit side? AVliat does the difTerence between the Dr. and Cr. of this account show ? For what is Profit and Loss account kept ? For what For what is it made Cr. ? What does the difference and CV. of this account show? For what is the Interest Fur what is it made Di'.? For what is it made Cr.? What does the difference between the Dr. and Cr. of this account show? For what is the Expense account kept ? What does the Dr. side of this account contain? What does the Cr. side of this account contain? When is the entry made on the Cr. side ? What is the Merchandise account ? Explain it. What is the Real Estate account? What is the Consignment account ? Explain the Consignment account of James Holmes. What is the Wheat account? What is the Cash account ? What is the Bank account ? What is the Bills Receivable account? W^hat is the Bills Payable account? W^hat is Journalizing ? Explain the process. What ia Posting i Explain the process. is it made Dr. ? between the Dr. account kept? :!- ■) \ \ #; le Real lin the bount ? [hat 18 Ijount ? Isting i DAY-BOOK, OE BLOTTER. DOUBLE ENTRY. t\ { : .:=^fian4j r^fcaHc/tt?/^ zJy/ulC a^c/^ ■/6J^0. y cotnttirnCf oe«-Jt»rjj W4//1 /Ac /o^ /owtna f//tc/j.- '^6cic/i(aic/tJc /if/ k/Vo/cJ ftnntnj/ rjt<>i(/ii/ ^(iJo/tJ c^oftatfitM (bone cwd inc on kS^/cc/ ly owe aj /o^owyoA/ c/'^Jr/tA t^K). Jjilycmnion on tS^ccoetn/ t^6eirA. /id ^y. cJS. /'(fj^c / KS^//iit'//3//?.— ^you/ c/umr-^onj oO-t/AJiu/, ^ oJo. on ,yYn/r a/ 6 ^zo. xy(6cic/i. /ici Jy oO. ^icrne / -— — -^S^/iit//4//>. yc/e/cf ^<^mj f Xn /oi iajA ty/i^cic/i. Act X cJb. A"7^ / U4 6^J2/4 ^50 4 7^ j2:Sy 36 oc oc or so GO /C,^64 7 €s 36 00 64/ 634 ^3p SO/ 2^/ 30 96 /^ 43 ^<9 /c? 4^ S^S J^'UO^iid^ cy/u^na/nj (c^ondtanea /(■ ^ie -^/^ 3^(o. ^^©. lymt/Aj /a 'Oc lYcu/ on /ttJ tS^cc/.j fS^»iocn/i6c//^ on tS^cc/. / ^ade J/^/e'nc/d, (foO „ .(f^h tS^/iit'/30/^. tS^ccf/i/ea ^cr^ (yttcj^on, ^ .=£(<:* d c^iof/f o7i ■^Jie -fn /avotd o<^ t^-td- aa/e a/ -/O (/a?/d' dfn/i/ /ai kYcu/ (7. tS^c/amd ^ tYon -Ai &adA <&adn ^Ja/cj o^ (^fSeicn. /Aid ■nion/n e^ate/ &adA Joi ty/oie Sa-Acndcd '/Atd ^non//i ^iei Ci^r/icnde cMoaA J^f/iodt/ea (oad/i tn oOann ojf ^e'ne-v(r 146 j3,C00 ^05 00 SiJ-i 60 00 24 2,206 44^ 4/6 ■f64 600 7^ -^,T 60 60 60 63 00 00 ;i ' 60 SO \00 \oo J:z.'ua7td, ^tiMaa^/.^ ^y^ay. ^^ '/o^^. (oo. on tS^cc/. ■/o72, 6000 /^J. Woo/ a/ .Q 6c. = %/360.C0. Sac A /a <^ed, ^c. /3S3.2'5 %j\f/ Y^atn t^/K?/ Aiff/ c/ wAtcA 40 9 ?/2'.J25 -(^6au '/a/A- jSOO ^/'^. &^A<4i a/4.2'5—J)50.00 j ''^ave in c^^jif/men/ a Jz)i(f// on cyjfnt. 0one /oi \wad/i /ai me ^afynce 148 77 /o^ S50 /OO S5 50 4/0 4^y /,56C 4*^ 00 00 500 ^50 js.y ^50 5C 00 00 7- CO CO 25 00 1'1 1 'U 1 . /I CC 2S 00 J^Z.'Ua^td^ ^^Coytvaayu^ fi^W^x^ 2/(i-€^ /o=^^ &adA Oil fS^ccotcn/ ^0 ^a. J^ B: B'r/Ui 6.60 -tyfvi (19, 7 ^"4//- ^a/(/ ^ai^/cn Sf &^io/A*'n^Aanfii Mia/^ on ^le a. / ,iti fjif/^d/oi oece-fva 'i-man a» eeet y. $^7/ io- 6.00 (o/tecK on an, J\/^^. a/ 6. 60 = /}f/tJe /ai %^6C.0O ane/'tmmee/ta/t^ ijcM-t/ /ai 'SCO. 00 /^•4p, a/ 15* 'man/M, /ci lyn/eid/ 3 /mon/Zia anc/ ^ t/at/a 'Ktad/ei, ana (bon^fivvee/ /o S^. J/. <^oj^ue^ ^Mny, /CO c^/^. y *y. .^eacn on 'W'/y. xySQ/e a/ 30 e/at^d, '5.60 c^'a'ta xJ^iC'tgA/ ane/ &ai/. « ty^K)€icnanc^ ^'tiand^ lf/tje M^. «_5^ ^^. ^^. ijrmi/A 2/3 /4 c/oJr/iA <^6, Mewtnon Mi. '/34 46 t_/«j Kyf(oacAa)i(/(de /i^4 46 rv/v,.y'<3/7/y' c^jann n/ Qfcnt'ita M-i. 2^000 oc ■ /^ so 2,000 00 Ml kJ^g iy^6cicnanat4e /^ 60 , ^A^r'/ r?)/;//' .(2,CC0 oc ^/ao w^^C'icMnc/cde 24 1 7^ , ^z..,'/ mn>// 3,2C5 25 &onnc'n/ /a %yVtw ^c^iA Mi. ^ B^/aui 2 COO 00 „ &a. o^fw^.^ &ondt'i/tnnien/ lymiaM «3 <^Aa0 t^/6etcna?i(Mde- «V^ ^'lo/t/ ana ,=Z^OiiJ -U6a?^ if^//^.- &/ai. ^aui Mi. „ ioaj/i ■^6ai/ ^/d/. &a^u J2)i t^e KyWeicAancujf y/6au jSjSe/ &aJn ^ f. U6. M cmmcn Ml ^^ 600 S230 7'^ 00 00 jS//' jSo ^so oo YOO 00 (fo 00 00 \m 'iy// cd\ 77 ^o 60 600/00 260 CO /0'$ 6'J3 ■/0& 63 ^60 00 YOO 00 22 '/OO ^J77 (f6 00 00 \oo ^5 CO 00 \6g ,}zy2d^o/nd-^ ^mU■*. 4p6 ^.//.J ^03 V' ti s.cco S60 /,ccc /J-^ /,ooc 7-7^^ 00 00 60 ^^ 7^ oc 00 00 s 4p6 S.776 /OS ^,C00 jSSO /,000 /24 /,000 00 CO 60 ^2 7^ 00 00 00 ^7 161 ( I ■; f. I ■'i 7 .^Z^o^nd^ ^Uucc'u^ (A(/ne ^4/^ ^oJ^^- ^^. £B. ^o-^ioa^ ^4 t>/o J%, a'&. Ky^ii/^d .ya Wa,iA crane ^/n.- 'fv)€'icnanai7 SO ^^7 /p^ 36 6^ /63 S5 /SS 00 3S0 634 96 ^6 cc 35 3/5 00 00 ■/33 3.^0^ 4C • . If ^ ■ ^ 1 -:?5^ ^ ^ ^ ^ ^ 't ®5 J\ *o Nj.\ 55; f*.^ - - • ?l5^ ^ ^ 1 « ^ ^ •^ V 170 ^ -^ «« ^ ^?^ ^ ^ s- i? ,^ 1>^ '^ "^ >? ^ K ^' ^ ^ ^ \c> ^ :? V 4 "4 V ^ ^ i2 > i^ 1 S. V V V ®(Q^^®j«b^*b^^h"^ ^ \ SS N* a. fe^ ii ^ s| ^ ^ ^ ^ ^ \ ^•| ^ , -o ^ ^ Vi ^ ^ V}. Ci •o *o «o ^ <25 1$^ ^ Ki '^ ,'<' .^ ^ ^ J;? "^j ^ is; V § ^ V §! H M V fib ®< ^ ^ ^ ^ 1^ ^ 172 VI' ^: D -^ ^ ^ ^ ^ ^ '2» «;i ^ -O ^ ^ '>0 Vi "1 K '^ Vi ^i vi ^ vi ^> *>i *3 ^ *Ci • tfe t^j C^^ C>^ (^^ Os^ 1 l§^ » « * » » 4 ^ < 1 y V ^ ^ ^ «;J^ S sx H >;i «b ""^ " '<:> ^ "vi ^ v:i V K 50 ^ s >» ^ ^ ^ ^ ^ « « « « « • ^ ^ ;^^ ^ ^ 173 ^ 5i ^ § S) •>i *o ^5 ^ 1 ^ \ ^ ^j ?^ ^ ^ Si '^^ .^ ^ N "<>i V ®§ A s, , § 1 ^ i ^ ^ ^ ^^ / t v^ ^ ^ V ^ ^ ^ ^^ V. If # tl5 >*■ "I-' rl| 1' N ^ ^ ^ ^ ^ ^^^^ ^ <^ 1^ «o ^ ^ * V ^ NJ. 176 1 i ^ ^ • ^^^ ■ WU-IJ ill) I ' *'A«L'»"- ipWWif T- .ffTj^ r^Er *■ ^ ^ i -o * \ i ^ ^ ^ X V y^s ^ ^1^ i <&i Vi -so 'o I TV, *0 ;n, (5^ ^Si , ^ <^i ©> ;o 1 ^ :|^'s V GVj V-}. is^ 1 si r: •' s: V| Ng ^ %| l^ * ^ ' : ^^^^^ ^ ^ 177 V* ^i ^ V <.^ 'o ^ Xi ^ ^^ N ^ X ^ V ^ ^ C\ ^( ^ V M n^ % Q\ ^ ^ <;:^ § ■vi Vi Vi >0 'si Vj 'O ^ ^ ^ ^ ^ ^ V; ■C) *o ^ 0^ ^ ^ ^ ^ M \. ■^ t^^^ 5\ *o o/ V s^ ^ f xx ^ %^ ^ ^^^ <;i -^i ^ I ^ '^1 ^ ^ i "^ ^ ^ > <^ ©3 p^ ^ 5K ^ 9 4 178 ^ '^:> «o ^ '^ ^^i 1 ^^ Vi> *<•:) *o N^ ^ ^ J ^ ^ ^ ^1 ^t' ^ v> '^ V 3^ ^ /-^ ji. *o (;:> -o , <^^ vj. b^ ^ ^ 3 ^ ^ * * «b ^ ^ ^HR wmm^ :myi y iD ^ ^ ^ Ji> ^ ^ *<:> ^^ 'o «^S ^^> • ^ ^?- t\ iN V ^^v^ $ ^1H No 1 1 ^ N l^ 0( ^^ IP 179 s ^ o Vi V ^ 5^ r "ci ^11 «o f1 ^ ^ -^ 1.^ ^ .^ ■^ f vS^"^ '5'»l ?! II I wwaiw»)a ^ v:^ .Si •^ ^ «o 1 <^ II 1 ^ 1^ II *>i Vi ^ "O ^ ^ 1 'o K ■^ \ ^ \ 51 \ s \, ;^ \ ^ \ ^-. \ ^x \ ®^ \ V .§\^^ ^^ <^ b'^ ^ "^ !? ^ ^, «o ^ ^i V}. 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.<''■ % v?^ '1? ^ l^ w. ss ^ ■^ "C> ^ 1 ^ v^ 1 ^ v:j Vo ^< ^N ^ ^ ^ ^ ^ ^ ^ i ^ -!?!> I .^ ^ 186 5^ -^» ^ <5> '5> ;^ 15^ 1 ^ 4 ^ * ^ H ^ ^j- ^^ cv 1 • >^ V3 «o \i Ki Cs CS^ ^ 1 1 1-1 i§^ « « » t » » » » » -• l^^^^^N^'^^^^ » 1^ •> . , ,^ , . , « ^v 'i^i ^ 5i c\ ^ ^ Kj \<^^c>^ 1^1^ .^ .1.^.1 ..^ '<« ^ ^ ^ ^ \ ^ ^ ^ vl ^ ^ ^ ^ >! -I "^ -I ^4 J >§ ^ ^ V V €J cs( <^) 1^ ^ ^5^' "^a 188 mmamtM m BOOK-KEEPING. 189 Mi Trial Balance. The Trial Balance is taken to ascertain whether the Journal entries have been correctly transferred to the Ledger, and may be made as follows: — 1st. Rule a sheet of paper with double money columns, and head it " Trial Balance," with Dr. over the left, and Cr. over the right- hand money columns. 2d. Write the names of the Ledger accounts in the open space at the left, and, also on the same line in the open space on the right, and after adding the two sides of each account, place the amount of the Dr. side in the Dr. column, and the Cr. side in the Cr. column opposite the name thus written. 3d. Add the Dr. and Cr. columns of the Trial Balance, and if they foot alike, the books are supposed to be correctly posted. This proof should be taken as often as once a month. Note. — The student must examine carefully the Trial Balance that is found on the two following pages. By noticing how the above rules have been applied he will be able to understand the purpose of this sheet. It is customary, after drawing off or making the " Trial Bal- ance," to label them, and, folding them neatly, to place them in a pack- age together, so that they may be readily referred to. In order to familiarize himself with the "Trial Balance," let the pupil draw up a "Trial Balance" of the preceding accounts, and then compare it with the one found on the next page. On the following pages three methods are given — all, however, involving the same principle, and obtaining the same result. 7'l I', I ^ ^ <9<«>3 ^"oKi N,^t% "^"^^^ v:^< V ^ 1 I ^ *5»%« «>.' ■^^ 0^ 1 >s V ^ "^^ tb N;^ Vi "o ^ «o "o «o Vi "S^ t\ "S^^ ^< ^ v^ ?? °b ^ ^13 ^ V5 ^ CN -.-5 'v^ ®D 0< (J^^ 1 V ^ «Sl3 >^ >Q) ^ K^ ^ "^ ^ ^ s: ^ l^ X- ^ ? 1^ \ \: a. vS ^. Is 1^^ 1^1 ^ 1^ s c>i I '^ -^^^ ■> I V ^ ^ ^ ^ ^ .k: v>; >^ ■>: •? •>: J ^?s ^ '^ ^ N^ 'S^ :^ ^ ^ I 1^ v>S 5^ ^ s i ^ 3?l4^^%^is^S^^^^^.v§^ 190 ^ ^ ^^ V •^ O^ ^i> ^ •.^^ o; ^ ^h ^ C^ v^ v^ V, V, X K K X vi ^ ^ S N^ V 1^ s^' <^ K ^ \ sx^ .> :^ >5: N^ ^ J SI ^ ^ ^ ^^'^^ ^ ^ V ■^ ^ Si ^ ?D '^ vi I V ?1 1 ^ "Vi "Vi "^ |o ^ ^ \3 ^ W ^ ;> ^^ =S ^ "^ ^ ^ 1- ^5 1 I 1 1 •^ss >«: ^ s: 191 ^ ^ ^ >Q ^ .l^'^ >s ^ ^ 1 ^ ^ ^^^ ^ Rl^.^ ^.1^ ^ S ;'\ ^ ri ^\^ I ^t I \ ^- s^t^^^l^sl'^s^^^^ N. *0 -q^ ©3 vj. (s^ ;;i <:, «0 Si J^ ^ ^ C\ ©) \i ^ ^) >Ci *o VCi -q, ^ Qi ^ ^> "^ K ^, ^^ ^ ^ ^1 Vi s N. ^ X, >» 192 ^ ; ^ Vi ••:> C\ "o ^, ^> ^> 3 5 ?:, 'si 1 ^> ••3 1 1^ ^ § t! !o ^ ^ ^ ^ ^ vj. vj> *<:) ^vS ^ R •o ©< ^ GV, GVj G^3 Oj P tv NJ. CVJ s> ^? "^^ > ^ 4 ^ ? ?^ 'si S 'S< C)3 vj. SQ) -y^-^-T^--qf ~'^~^~ '§" Y "^~ "f" . is 2^s, >ci ^ ^ 1 ^ ^ \ s ^ >;§ ^5-l^i 1^ ^ 1 193 N l« % f 1; ^ ^ N • K !^ ^ ^ Nl >.i ?3 ^ ^ i:^ 13^ ■% ^ ^ Vi ^ ' ^7> ^ v> v^ =s ^ ^ ^ ^ ^ > ^ ^ V 194 BOOK-KEEPING. 195 Balance Sheet. Merchants as often as once, and sometimes twice, iv year Diilance their Ledi^ors, and make out what is termed a Hulance Sheet. Tiiis sheet exhihits, in a condensed form, 1 statement of tlieir mercantile aflidrs, and forms tlie mate- rials for ojKMiing a new set of Ixxiks, eontainint^ on the Dr. side the debts due tiiem, cash on hautl, and the value of merchandise or other ju'operty remaining unsoltl ; and on the Cr. side the amount of their indebtedness to others. The difference between the two sides is of course their net capital. Directions for Making a Balance Sheet. 1st. Write "Balance Sheet" at the top of a page in the Ledger. 2d. Take an inventory of all property \insold, and make the accounts representing the propertv Cr. *' By Balance" for the value of what remains unsold , then place the name of the account, and the same amount, on the Dr. side of the Balance Sheet. 3d. Ascertain wiiat accounts show a gain or loss on the business, and balance these accounts " To" or " By Profit and Loss" for the difference ; then turn to the " Brotit and Loss" account, and enter tlie title of the account, and the amount, if a gain, on the Cr. side, or, if a loss, on the Dr. side of said account. 4th. Balance Private account and Profit and Loss "To" or "By Stock." If the Profit and Loss account shows a gain, carry it to the Cr. side ; if a loss, to the Dr. side of the Stock account. 5th. Balance all other accounts, except Stock, "To" or "By Balance." If the Dr. side is the largest, make the account Cr. "By Balance" for the difl'erence, and enter the name of the account, and the amount, on the Dr. side of the Balance Sheet ; or if the Cr. side is the largest, make it Dr. "To Balance" for the difference, and enter the name of the account, and the amount, on the Cr. side of the Balance Sheet. 6th. Balance Stock account "To" or "By Balance" for the diflfei'ence, and, if the operation of balancing is correctly performed, the balance of this account will exactly balance the Balance Sheet. •r . . '!► 1 .. (i- ^ 5^'^^ INVENTOEY-BOOK. DOUBLE ENTRY. -^-►- '*.-wvm.^ y':iV^ ^,,:vr;..*,^ v»;,^iv. h' 2 -j '-^nven/oi'U o^ i./^ficnanmS ■mon/Ad. eAuc c/une 20/A a)'/fA 3eA, Aoi / ^'t've'n Ai/J^ tyA6. ^e'tfi'man^tyA^at 24/A^ ■/<^4Q, a/ if 'tno'n/Adj tActe c/ttne 23eA ana- 6^/A, Aoi K/hfjen/oii/ njf tS^cco4 ,. .^^ S6S s(fo 46 3/ 2 „ e/o. (/o. SOS .. ., .^C /S/ 30 S%tce/. £:^um/. /fi/ %JVa/e a/ •tn&d. ^ca. %{/! Me//, ^ ^a. / 00 6' /^ f.^v Title i^'/n.- - s k/o/t/ c/ameaa^, C/i/<''Ma'ia Sf &o. on tJVo/e 6 ino. / ^4ece Mi^. ^a4'75. (3th. Sold Henry B. Holbrook merchandise, amounting, per S. B., to $56. Sold Henry Holmes, for cash, merchandise, amounting, per S. B., to §97.63. 9th. Bot. of Daniel Jones, for cash, merchandise, amounting, per S. B., to §48.96. 12th. Sold Joseph M. Demmon, oa account, merchandise, per S. B., §73.19. Received from F. S. Bogue, Albany, an account sales of flour con- signed to him, June 25th; net proceeds, §698, for which he has remitted me a check on the Bank of Geneva. 14th. Sold David Cole- man, for cash, merchandise, per S. B., §139.64 ; Jameson, Willard, & Co., on account, merchandise, per S. B., §158.50. Deposited in the Bank of Geneva, §700. 16th. Accepted Stewart & Co.'.s draft ou me, at 30 days' sight, for §956. 19th. Received from Henry B. Hol- brook cash, to balance account. Bot., for cash, of J. & H. Mirick, 100 bbls. of flour, at §5.50, which I immediately sold for §6 per bbl. 20th. Received per boat Sivan, H. Denmau master, from N. Y., an invoice of broadcloth, amounting, per invoice, to §316, consigned to me by Cromwell, Haight, & Co., to be sold on their account; paid freight and charges in cash, §10. 21st, Sold Charles D. Campbell merchandise, per S. B., §46. Deposited cash in the Geneva Bank, §1000. 24th. Sold Thomas Collins 32 yds. Cromwell, Haight, & Co.'s broadcloth, at §4.50. Received, in payment, his note at 60 days for one-half, and cash for the balance. 28th. Bot, of John H. Holmes his house and lot on Broad Street, for §2000. Gave in payment, cash, $1000, and my note for the balance. Sold Lewis & Herrick the re- mainder of Cromwell, Haight, & Co,'8 broadcloth, for §300. Charles D. Campbell has paid me cash to balance his account. 80th. Made up an account sales of Cromwell, Haight, & Co.'s consignment ; my com- mission on sales, 5 per cent, Joseph M. Demmon has paid me cash to balance his account. Sold William W. Hart, on his note at 90 days, merchandise, amounting, per S. B., to §216. Paid Isaac C. Dixon his salary for one month, §50. Store expenses, per Expense-book, amount to §47. Cash sales of merchandise this month, §163. Merchandise unsold, per inventory taken this day, amounts to §893.20. ■t^ifc. ♦ BOOK-KEEPING. 205 FORM FOR RETAILERS. Double Entry. . The books necessary for this form are the Day-book, Journal, Ledger, Petty Cash-book, Monthly Cash-book, Merchandise- book, Bank-book, Bill-book, and Expense-book. The Day-book, Jotirnal, Ledger, and Petty Cash-hook are the same as those in the " Merchants' Form," Single Entry ; also the manner of Journalizing and ])osting. Monthly Cash-hook is a book in which the sum total of the receipts and disbursements of cash are entered daily from the Petty Cash-book ; and at posting, the sum total for the month of the debits is transferred to the Dr. side, and the sum total of the credits to the Cr. side of the cash account, in the Ledger Merchandise-hook. — This book is kept to show the amount paid and received for merchandise. Both the Dr. and Cr. sides of this book are ruled with double money-columns — for cash purchases and credit pui-chascs ; and for cash sales and credit sales. The amount of merchandise on hand com- mencing business, also the amount of merchandise purchased, should be entered, with the date, on the Dr. side of this book, "To Cash," "To Bills Payable," or "To Sundries," as the case may be ; or if purchased on credit, make it Dr. to the individual of whom it was purchased. If there should be several purchases on the same day, make it Dr. to " Sundries" for the sura total. Every night, at the close of business, the amount of the cash sales for the day should be entered in the cash columns, on the Cr. side of this book. At the close of the month, the credit sales for each day should be added in the Day-book, and entered in the left-hand margin of said book, opposite the date, (being careful not to add any that are marked "Returned" in the margin;) from thence transferred to the ci'edit columns of the Cr. side of this book. At ]»osting, the sum total of the debits should be transferred to tlie Dr. side, and the sum total of the credits to the Cr. side of the Mer- chandise account in the Ledger. • At the time of balancing the books, by taking an inven- tory of the merchandise unsold, and placing its value to the Cr. side of the Merchandise account in the Ledger, the dif- ference between the two sides of this account will show the gain or loss on merchandise. t'!: 206 BOCK-KEEPING. Bank-hook. — This is a book usually given by banks to per- sons depositing money with them. On the Dr. side is entered all sums deposited, with the date and name of the individual by whom deposited. This is done by the receiving clerk. At the close of the month, the amount drawn out should bo placed on the G7\ side, and the book balanced. The sum total of the deposits for the month should be transferred to the Dr., and the amount checked out during the month to the Cr. side of the bank account in the Ledger. Bills lieceivable. — All written obligations for the payment of money, which you hold against other individuals, are called Bills Receivable, and should be entered in this book when taken. When posting the month's transactions, the amount of bills received during the month should be transferred to the Dr. side of the Bills Receivable account in the Ledger ; and the amount of all such bills which have been redeemed should be transferred to the Cr. side of the same account. Bills Payable. — All written obligations for the payment of money, which you give to other persons, are called Bills Payable, and should be entered in this book when given. At the time of posting the month's transactions, the amount of such bills given should be transferred to the Cr. side of Bills Payable account in the Ledger ; and the amount of all such bills which have been redeemed should be transferred to the Dr. side of the same account. < Expense-hook. — This is a book in which a memorandum is kept of all sums paid or incurred by the merchant in con- ducting his business ; such as store rent, c^erk hire, freight, cartage, porterage, postage, advertising, fuel &c. At the close of the month, the sum total of the expense * should be trans- ferred to the Dr. side of the Expense account in the Ledger. A memorandum of the transactions is given for the months of February and March, which the learner may record in the same manner as the month of January. As this set of books is to be journalized the same as the "Merchant's Form," Single Entry, we have omitted the Journal entirely, leaving it for the learner to journalize for himself; and if he journalizes and posts correctly, his Ledger will agree with the Ledger in the book. Note. — The sums to be posted from either the Cash-book, Merchandise- book, Bank-book, Bill-book, or Expense-book, may, at the book-keeper's option, be posted directly to the Ledger, or entered in the Journal, after the Day-book b^s been journalized and posted from there io the Ledger. DAY-BOOK-KETAILEirS FORM. DOUBLE ENTRY. r'l ac/t€d^^et^ //e S / 4 B ^ 2 \^MMia' cC S^a'm^an ^ (Oa. <$» w cX^<).a(/wai V 1 el 5! ^ ^^ l^i s ^ s^ % V v,-;^ <^ .H_ « « 5 if^^l * 217 I ^ ^ -^ <^0 §N ^ ^^ 1^.^ • ■ ** ^ Nl ? ^ : <^ V^ »; • ^ 1 « « 1^^^ ^ -:?!!» 218 Cs. T^' ^ ^ tb ^ ^ «< «o 1 H % 1 14^1 1 ^ J * »'*™««a»aswi*«fflSMa»BBis«am^^ ^ ^ i^ M ^ n: 11 ^ ^ ^1 ' ^ § " N^ -.1 -^ 1^^ * « I^H f ^ -:!!!> « 5. ^ '^'^, i% 1 1 i 1 ■^ § ^ ^ ^^1 ■■ / •' ^ §.§,!§!! ^ ^ 1 ^ t •I 1 ^ ^ 1 219 lil^^-^ I ■m ^ -^ ^ ^ ^ ^ ' t^ i H ^ J^ ^1 '-.1 Ji ^ «o ^ No «3 V ^ ^ ^ ^ i^ — ^ ■^ ' ^i ^ ■ ®§ ' :i^i ^^ «>3 eta ^ >C>I ^ c§ x:b '^ ^ ^ i ^s'lSs^ ^ ^ ^ N^ . Vi ^ <^ ^ 5 , ^ •1 ^ li^ ^ §§ ^ , . H 1^^^ 1^ 220 '-> ^ ^ \ ^ ^ -^ 1^^ - 5 «»b N^^ % ^^ ^ ^\i J ^ ^ |.i ^ .'> Si -^^ 52 ^ 1§^ ^ ^• ^1 "Sn' § :s ^l& t^ ^ N 5 «b ^ ^ Cs •^ H t^'"!^ 51 ■M> 221 '' N ^ '^ ^ ^ tb ^ ?s "^ ^'^' ^ t j r§-i\ig.' : ^ § -^ 1 -* | ^ ^ ■ • - J N° ^ > ^^l< ^ ^ ^ 5> > >y '•' I N> V "o Cs. s ' i> ■^ 223 ^ ^;? ^ ^ "t .■5 ^ "^ v« v^ ^ ^ ^ ^ ^s <^i Vv ^ ^ l^ 1 1 ^ ON. -^ ^ ■^ 1 ii iS v^ ^ ^ <» ^ "^^ -:?!!> „ i «b If 4 ^ 1 J -5! sg 1 1^ 1^ .^ ■.^ ^ <5^ ^ 95 1 224 >: ^ 1 S) ; Si ^^. ^ =^-J- ^ ^ s ^ X ^ » ^•1^^ ^ ^ ^^ ^ -^ ._l_^!i ^: .":) Si -:?!* 225 V ^1 ■"> ^ Vi ^ 1 ^ ;^ % 1 1 1 I I JP! !iJ ' H iilii m- "^ ^ Vij ^ -C; % V ^^ V V V) 1 ! ^ J^ ^ >» 2i ■■ ^:. ^ <;i ^ >. V ^ V . s? 4 ■^ ^ >i St V Vj |: \ ^ ^ ^^ sS ®s ! >? M _ V -^: ■^ ^^ ■ ■ "^^ -:??> ^ ^ Si ^ 1 i. ■■ ^1 ^ 1 _ ■% 'V 11 ■1 ^ 1* 11 • 1 /■ 226 iM3B»rJiwriTfi I jiitBimfc i.-ifta«atete»y^ i^r>i.T^i>iAi ;",Tf i.tf am TO > ^ ,- <^ Ri. c-> i~s Vi Vi Cv ^ <:»^ S V ^r, ^ «^ V \ e» ®t *>3 «b 'I" ''s '-J Xi ^" l\ t\"«b* ■% ^ ~^ ^^" N ^ ^ ^ (v. .^ ^A2 ^ I^S € :i s *=^ ^ ^^ ^".^ xst Si'4^«1^S^^^4 a> civ ^ 5j ^ X ^ V ■Oo ^ .1_^_ § V l-s '^0 "^ ^ ^ ^ ^^ N\§ ^ ^V T ^ I ^ «D ^ \3 ^ T"^ V^ <3 ^ >!^ v^ ' ^ OCt ' NT ^^ ^ ^s ,^^ J $<' T"^ Ni ^^ ^ ¥ ^ IP V -'r ti27 0) B m h4 ^ V v 3 ^ ^ -^ ^N' I? ^^^ ?^^ 'y. n^^ ^ N '^i "55 ^ "^i ^ ^ » ^ I 51 I ^^S^ ^ 228 rS « T ^ CV *0 <2> C\ Qi ^ ^ I V "O »% <>y si^ ^ ^ I i>^vQ^©<«>3 ^^ ^ ■^ ^ "^ v^O v^ t '^^ ^ ^ ^ ^ ^ i i i > . ^ ^ ^ ^ ^ ^ ^ ^ 5 ^ ®5 ■ « « * $ « « * 5 * S « s < V ©^ ^ ^ N^^ ^ ^ V^^ ^^ s $ « 5 5 5 ? i i % » % « « ^^ ^ ^ ^^§ ;^^ \s X Gt-) § Ki ^ ^ §N^ ©^ <^ 1^ ^ ^ ;^ ^=$ ^ ^ i jl^'^^ §^ s'l^^^^^^i'^ t « « t « $ » * > » \s^©3v^vo^^^(:>^^v>^;^:o^tv^ 231 m M ^ ^ D tn wc an Fe $9 M( m Merchandise-book. The transactions for one month being sufficient to illus- trate clearly the manner of keeping the Merchandise-book we will therefore merely give the sum total of the purchases and sales the remaining months, as follows : Purchases- February, $614.91; March, $254.33: Sales — February, $989.05; March, $1389.73, which should be posted to the Merchandise account in the Ledger. For form, see next page. S^eA. 'i |^§ Ij ^ '^ v^ ^^ ^ ^ ^ ^ 1 i OS > >* V \ \s V V Ss V ^ * ^'■l ^ ^ ■si 1^ J^ ^ S^ -vi »Ci 'O >si ^^ ^ ^ ^^ § V ^ 1 V N I ^ k^ 3:-^Sf^^i ^ ^ ^^^S.1^^^^ ^^ 1^ ^^ *^> 234 1 ^ ^ i ^ ^ ^ •o <:i •^5 ^ ;o th 'b ^ ■^ •1^ ^ ^v< •^ ^ ^ *o ^ ^ ^■> N^ -y N V ^ " ^ ii Vi '■b v^ u V. s; ^ Oi ^ ^ ■^ ^ ^ ^ ^ ^< ^ ^ <^ Q^P 'S'^ ^^^ /aae 236 J" ^.ublic ; it is a solemn declaration against any loss to be sustained on the part of the holder by the non-acceptance or non-payment of the bill. In respect to in- land bills, a protest ia not absolutely necessary, although it is usual ; notice of their dishonoiu*, however, must be given by the holder to the antecedent parties, in order to make them responsible. Upon non-acceptance of a bill, if due notice thereof has been given to the antecedent parties, the holder can insist upon immediate pay- ment of the bill from them. OF TRESEXTMENT FOR PAYMENT. If the bill has been duly accepted, it is the duty of the holder to present it to the acceptf)r for payment on the very day on which it becomes due ; and if the bill was accepted paj'able at a particular place, the holder is boimd to make a demand of payment at that place. For, if the holder neglect to present the bill at such time and place, he cannot recover against the drawer or endorser in case the acceptor refuses payment. In determining when a bill becomes due, days of grace, as they are called, nuist be allowed. In this country throe days' grace are given on all bills except those payable on demand. Demand of payment must not be made, therefore, imtil the third day of grace, unless such day bo Sunda}^ Fourth of July, or some other holiday, in which case demand must be made on the second day of grace. OF PROCEEDINGS ON NON-PAYMENT. The duties of the holder upon dishonour of a bill by non-payment, are the same as upon dishonour by non-acceptance. He must make due protest for uou-pnymc nt, and give due iioti.^o of the dishonour to the other parties to the bill; in which case the h^ilder is entitled to a full satisfaction of all damages siistained by him by reason of the dis- honour, against such other parties to the bill ; but if he neglect to do tliis. the antecedent parties are discharged from all liability to the holder. OF PAYMENT AND OTHER DISCnARGE.S. The acceptor being primarily liable on a bill of exchange, it la evident that a payment by him to the holder discharges all the other parties riJO.MISSORY NOTES. 2i3 from liability on the bill, provnled the payment is made without know- ledge of any infirmity in the title of tlie holder, and the names of the jiarties to the bill are not forgeries. Payment by the accej)tor shotdd be made at maturity, and not before. Tlie drawer and endorsers will be discharged from liability by a valid and binding agreement (in which they do nnt concur) between the holder and accej)tor, wherebj'- time is given to the acceptor for the payment of the bill after it is due. A dischai'ge k> the accejitor, we have seen, is a discharge to all the parties ttj the bill; but a discharge to an endorser is no discharge to the prior endorsers, though it is to the subsequent endorsers. FOEM OF A SET OF BILLS OF EXCHANGE. E--«l^- •^^'^O^- Ni:w York, Jan. 1, 1848. Thirty days after sight of tliis, mj^ first of exchange (.-ccond and tliird unpaid), pay to tiie order of H. J), ^^'illiams ik Co., one thousand dollars, and place the same to my account. L. S. F. To Messrs Jones & Clark, New Orlouns. • ^-'^- ^^1000. j^,^ YOUK, Jan. 1. 1848. Thirty days after sight of this, my second of exchange (first and third mipaid), pay to the order of H. B. Williams & Co., one thousand dollars, and jilace the same to my account. L. S. F, To Messra Jones & Clark, Nuw Urleans. ^^'^'- -^lOO^^- New York. Jan. 1, 1848. Thirty days after sight of this, my third of exchange (first and second unpaid), pay to the order of H. B. Williams & Co., one thousand dollars, and place the same to my account. L. S. F. To Messrs Jones & Clark, New Orleans. FOIiM OF A DRAFT OR I^LAXD BILL. ^500. Lyons, Jan. 1, 1848. Ten days from sight, pay to the order of Nathan Brittan, five hundred dollars, value received, and place the same to uiy account. L. S. F. To 11. M. Riclianlsnn, Kochester. niOMISSOllY NOTES. A Promissory Note is an engagement in writing to pay a certain sum of money mentioned in it to a person named, or to his order, or to such person or bearer. , 244 PEOMISSORY NOTES. A note, in its original form of a pi-omise from one person to pny a sum of money to another, beard no particular resemblance to a bill of exchange ; but when it is endorsed there is a very great resemblance, for then it is an order by the endorser to the maker of the note, to pay the money to the endorsee. The endorser of the note corresponds to the (bxiiccr oi the bill; the maker to the drawee or acceptor ; and the endorsee to the 2'>ci'yce. The rights and obligations of these correspond- ing parties are nearly or quite the same. It will not be necessary, therefore, to repeat all the rules that are applicable to, and govern the parties to a promissory note ; we will, however, state the principal ones. And, first, of tlie requisites of pn/missory notes. No precise fo.-m of words is necessary to constitute a valid promissory note. A promise to account for a certain sum, or an acknowledgment of indebtedness for value received, is suflicient, Like bills of exchange, they must be for the payment of money only, and not for the performance of some otlit^r act; and the amount to be l)aid must be fixed, and not variable, and must not depend upon any contingency, but must be }iayable absolutely and at all events. There should be no uncertainty as to the person by whom or to whom it is payal>le. Therefore a note payable to A. B., or to C D., is not a valid promissory note. A note payable to bearer generallj', or to the payee or bearer, is transferable by mere delivery ; and po.ssession of such a note is prima facie proof of title. But if a note be drawn payable to the order ut the payee, the title will pass only by the endorsement of the payee ; and if the endorsement be in full, the title passes to the person named therein ; but if it be in blank, it passes to the holder by delivery merelj\ To make a note payable at a particular place, it is not sufficient that there be a memorandum of the jilace at the bottom or margin thereof, but it must be expressed iu the body of the note itself, and form a part th(M'eof. The words "value received" are not essential to the validity of a promissory note, although they should be inserted. A note may be made by two or more persons; -ind in that case may bo joint, or joint and several, according to its form. The makers of a joint and several note may be sued upon it, either jointly or sepa- rately; and if sued separately, a recovery of judgment (without satis- faction) against one will not be a bar to a rocovei-y against another inaker. But the makers of a joint note should be sued jointly ; for if they are sued separately the action can be defeated by a plea iu abatement of the non-joinder of the other maker or makers. A note signed by two or more persons written thus, " We promise to pay," (fee, is a joint note only; otherwise, if the words "jointly and severally" be added, a note written, "I promise to paj^," &c., signed by two or more persons, is a joint and several note. K a ]>ersun at the time a negotiable note is made, write on the back of it, " I guarantee the payment of the within note," he will be treated as a joint and seveial promiser with the maker thereof, aiid not as a mere guarantor. But if tlie endorsement be made at a siibsequent time, or be a guarantee of collection instead of payment, the endorser would be considered as a guarantor ; a consideration, however, in these last PROMISSORY NOTES. 245 cases, must be expressed; that is, the words ''for value received" should be inserted in the endorsement. If a note be endorsed thus, " For vulue received," or " For a vahiable consideration I guarantee the collection of the within note," the gua- rantor would not be liable upon it, unless the holder showed a diligent attempt to collect it. An agreement for a valid consideration, extending to a principal the time of payment of a debt, discharges the sureties. But an agreement for delay, made v:ithout consideration, between the i)riucipal debtcn- and the creditor, will not discharge the surety ; nor will negligence of the creditor in calling npon the principal for payment discharge the surety, unless he be dauuiitied by such negligence. All who have signed or endorsed a note, are jointly and severally liable to the holder. CONSIDERATION. A valuable consideration is necessary to support a promissory note. A consideration founded on mere love or alt'ection is not sufficient. Thus, a note drawn as a gift to a sou or other relative, or to a friend, cannot be enforced as between the original parties. A mere moral obligation, though cou2)led with an ex]iress jiromise, is not sufficient consideration to support a note. A consideration wliich the law esteems valuable must exist, in order to furnish a just founda- tion for an action. A note will be void, as between the original parties, if founded upon fraud or duress, or where undue advantage was taken to obtain it of the maker ; as, for instance, getting the maker intoxicated for the i)ur- pose of obtaining his note. Illegal consideration also will render a note void ; as, when a note is given for the perpetration or concealment of a crime, or for a wager, or whenever the consideration is founded upon a transaction against sound morals, public policy, public rights, or public interests. There are, however, but two cases in which a note is void in the hands of an innocent endorser ior a, ral uullc consideration; and these cases are, when the consideration in the note is money won at a play, or where the note is given for a usurious debt. ON nu-SENTMENT FOR PAYMENT. The contract of the maker being to pay the note ujion due present- ment at maturity, in order to charge the endorsers, it is the duty of the holder to demand payment of the maker on the very day on which by law the note becimies due; and unlef)S the demand be so made the holder loses his remedy against the endorsers, although the maker would still be liable. The rules that were given to dcteiiuine when bills of exchange become due apply as well to notes. Three days' grace are allowed on all notes excej)t those payable on demand, and those in which no time of payment is expressed; on such no days of grace are allowed. When a note is made payable at any particular i)laco, as, for instance, at a certain bank, due presentment must be made at that ]ilace iu order to render the endorsers liable in case of non-payment. Notes payable at a particular bank, ai-e generally left with that bank for payment. 'ii' 241) PROMISSORY KOTES. If the note is payable generally, without any specification of place, the holder may present it for payment to the maker wherever he may be found ; but it is not absolutely necessary that a personal demand be made; a demand at the maker's place of abode or business, is a good demand in some cases. The holder must use reasonable diligence in finding the maker, or his place of abode, or place of business, in orderj to charge the endorsers. But the maker is liable without such demand. PROCEEDIXGS ON NON'-PAYMENT. No protest is reqixired to be made upon the dishonour of a note ; although it is common to protest them for non-payment, especially in commercial towns. But in every case of the dishonour of a note, it is the duty of the holder to give due notice thereof to all the prior parties on the note to whom he means to look for payment ; for the holder cannot recover against a party to whom he has failed to give due notice of the dishonour. OF r.VYMENT. If the maker makes due payment of a note to a honafidc holder, it will amount to a complete discharge of all other parties thereon. But when payment is duly made by an endorser to the holder, such endorser, as a gmieial rule, will retain his right to recover over against all the antecedent parties to the note, until he has received a full indemnity ; such payment, however, will discharge all the endoi'sers subsequent to himself. INTEREST. Interest is recoverable on a promissoiy note in which there is no special agreement to pay interest, from the time when the princijial becomes due, or ought to have been paid. A note payable on demand carries no interest till a demand is made, either by suit or otherwise, unless there is an agreement to pay interest. A note not on demand, in which no time of payment is mentioned, draws interest from date. AVhenever there is a special agreement to pay interest, that is, when the words " with use," or " with interest," itc, are contained in the note, it draws interest, of course, according to such agreement or contract. A note is said to be outlawed in six years from the time it becomes •^ue. The statute requires that all actions founded upon any instrument or contract not under seal, must be commenced within six years next after the cause of action accrued, and not after. FORMS OF PROMISSORY NOTES (1.) Nine months from date, for value received, I promise to pay H. M. Richardson, or bearei-, one hundred dollars with interest. L. S. Fainstock. Lyons, Aug. 1, 1848. ,, . ^ CHATTEL NOTES. 247 (2.) On the first daj'^ of January 1849, for value received, I promise to pay L, S. Fulton, or order, one hundred dollars. Samuel Took. (3.) On demand, for value received, I promise to pay H. M. Richardson, or beai-er, one hundred and ninety-two dollars and sixty cents. Alex. Hamilton. Lyons, Jan. 1, 1849. (4.) ■ For value received, I promise to pay L. S. Fulton, or order, one hun- dred and fifty dollars. JoHX Jones. Lyons, Aug. 1, 1848. (5.) Ninety days after date, for value received, I promise to pay H, M. llichardson, at the Bank of Geneva, one hundred and twenty-five dollars. S. S. Sampson. Lyons, Aug. 1, 1848. (8.) joint note. Three months after date, for value received, we jointly and severally promise to pay to the order of L. S. Fulton, one hundred dollars, with interest. Samuel Sampson. Lyons, Aug. 1, 1848. James Jameson. (7-) ' DUE-niLL. Due, Lyons, Jan. 1, 1848, Levi S, Fulton, one hundred and forty-seven dollars. Samuel Sammers. Notes Nos. 1, 4, 6, and 7 draw interest from their date ; Nos. 2 and 5 from the time of payment mentioned in them ; and No. 3 from the time a demand is made. CHATTEL NOTES. We have seen that in order to constitute a promissory note, it must be for the payment of money only ; if then a note be payable otherwise than in money, it is called a chatlcl note. Chattel notes are not nego- tiable, and cauu()t be sued, except in the name of the payee. No days of grace are allowed upon them. It is the duty of the maker of a chattel note payable in specific articles, at a place mentioned in the note, to tender the articles at that 248 '^ Em >— ( w o ^ ^ '^^ ^ J\ N6^ ^ i ^ .-^ 1 ^ 1 ^ ^ 50 249 s^^ ^ V (^ ^ iaj^&^^ 250 CHECKS ON BANKS AND BANKERS. })l,'ice, and at the time the note becomes duo. If tlio maker neglect to make such tender, ho will be liable to the payee to pay hiiu the amount of the note in money. But if, on the other hand, thu maker tondi-r the articles mentioned in the note at the i)roper time and jjlace, accordin;^ to the contract, and the creditor neglects or refuses to receive them, the debt is thereby discharged ; but the ri^dit of property in the articles tendered passes to the creditor. The debtor may abandon the goods tendered; but if he elects to retain possession of them, he will be con- sidered as bailee of the creditor at his (the creditor's) risk and expense. The relation of debtor and creditor would in such case bo changed to tliat of bailor and bailee. There is a dill'ereuce as to tender between 2i07'iallc and cumhroits articles. With respect to the former, a tender as above must be made; as to the latter, it will be sufficient if the debtor offer to deliver as the creditor shall direct. FORMS OF CHATTEL NOTES. Three months after date, I promise to pay to C. D., or order, one hundred bushels of good merchantable wheat, to bo delivered at the residence of said C. D. A. B. llocj^ster, Aug. 1, 1848. Four months from date, I promise to pay to C. D., or bearer, at my place of residence in this city, aeveuty-five dollars' worth of sound and merchantable winter apples. A. B. Rochester, Aug. 1, 1848. CHECKS ON BANKS AND BANKERS. A Check is a written order addressed to a bank, or to persons carry- ing on the business of bankers, by a person having money in their hands requesting them to pay to another person, or to his order, a certain sum of money mentioned in the check. Checks differ from Bills of Exchange in the following respects: — 1st. They are always drawn on a bank, or on bankers, and are pay- able immediately on presentment, without any days of grace. 2d. They require no acceptance as distinct from payment. 3d, They are always supposed to be drawn upon a previous deposit of funds. In order to make the drawer liable, in case the check is dishonoured, the holder must present it for payment within a reasonable time, and if dishonoured, must give the drawer notice thereof within a reasonable time also. CHECK. August 1, 1848. Cashier Rochester City Bank, pay H. M. Richardson, or bearer, two thousand five hundred dollara. R. L. Bbatton. S2500. IJECEIPTS. 251 RECEIPTS. A receipt in full, thoucfh strong evidi'iioe, i.s not conclusivo; and a party tjigning such receipt will be peruutted to show a iiiiatake or error tlierein, if any exist. iieccipts for tlie i)ayiaent of money are open to examination, and ujay bo varied, explaiued, or contradicted, by parole testimony. GENERAL FORM OF A RECEUT ON ACCOUNT. $50. ROCIIKSTEU, August 1, ISIS. lleceived of C. D. fifty dollars, to apply ou his account. A. B. EECEIPT IN FULL. $110.10. Rochester, August 1, 1848. lleceived of C. D. one hundred ten dollars and ten cents, in full of all demands against him. A. B. RECEIPT FOR MONEY PAID BY THIRD PERSONS. $100. Rochester, August 1, 1848. Received of C. D., by the hand of E, F., one hundred dollars, to ap[)ly on account of said C. D. A. B. receipt for money on bond. $200. Rochester, August 1, 1848. Received of C. D. two hundred dollars, to apply on his bf)nd, dated the day of — 18 — , being the same sum this day endorsed on said bond. A. B. receipt for interest money. $140. Rochester, August 1, 1848. Received of C. D. one hundred and forty dollars, being the annual interest due on his bond, dated the day of 18 — , given to me, (or to E. F.,) and conditioned for the payment of the sum of dollars in years from date, with annual interest. A. B. receipt to be endorsed on bond. $140. Rochester, August 1, 1848. Received of C. D. one hundred and forty dollars, being the annual interest due on the within bond, and the same sum this day receipted by me to the said C. D, A. B. 252 BO>'DS — CHATTEL MOIITGAGES. BECEin: Foil A NOTE OF TIIIUD I'EnsON. IlocHESTEU, August 1, 1848. lleceivod of C. D. a promi.saory note against E. F., (dated A])ril 'Ith, 1817, and on which there is duo oni! hundred dollars,) which, wheu paid, shall be in full of all duuiuuds against the said C. D. A. 1). BONDS. A Bond is an acknowledgment, under seal, of a del)t, duty, or obliga- tion ; and it is immaterial what mode of expression is used, provided the language be suftioient to establish an acknowledgtnent of a debt. Every bond in itself imports a consideration ; and a failure of the consideration is not a good defence to an action brought on the bond. Fraud, however, or an illegal consideration, will invalidate a bond. Wax, or some other tenacious substance, is necessaiy in (jvdor to make a legal seal, except it be the seal of a court or public officer. COMMON FORM OF A B0>:L». Know all men by these presents, that I, A. B., of the town of , in the county of , and State of New York, am held and firndy bound unto C. D., of, &c., in the sum of one thousand dollars, lawful money of the United States of America, to be paid to the said 0. 1)., his executors, administrators, or assigns ; for wdiich payment, well and truly to be made, I bind myself, my heirs, executors, and aduiinistratoi.s firtnly by these presents. Sealed with my seal. Dated this day of , one thousand eight hundred and . The condition of the above obligation is such, that if the above bounden, A. B., his heirs, executors, or administrators, shall well and truly pay, or cause to be paid unto the above-named C D., his execu- tors, administrators, or assigns, the just and full sum of five hundred dollars, in five ecpud annual payments from the date hereof, with annual interest, then the above obligation to be voiu; otherwise to remain iu full force and virtue. Sealed and delivered in ) the presence of > .A 1). J G. H. \ CHATTEL MORTGAGES. Every mortgage, or conveyance intended to operate a i mortgage, of goods and chattels, which shall not be accompanied by an immediate delivery and continued change of possession of the things mortgaged, is absolutely void, as against the creditors of the mortgager, subsequent purchasers, and mortgagees in good faith, unless the mortgage, or a true copy thereof, be filed in the office of the clerk of the town where the mortgager resides at the time of the execution thereof. wr-n BILL OF SALE. 253 Witliin thirty days next prootMlini,' t!io exi)initiun of a yo.ir from tbo filing !i cliattel niortgiigo .i.s aforesaid, a true ci>i)y of huuIi inortgago, witli a Htatoinont cxliiliiting tlio iiitiM-nst of tlio ninrtgaguo in tlio jiro- pcrty mortgaged, ^'Uould a;,'ain Ik! tiled with siioli (■lork. After dt'faidt in the [laynioufc of a chattel mortgage, tlio niortgagoo'ti title to the jiroperty mortgaged heeoines absolute at law, ami ho i.-» entitled to the immediate po.sse.ssion thereof. CII.VTTKL MOUTiiAOr:. This indenture, made the day of , between A. 15., of , of the Mccond part. of the lirnt part, and 0. D., of witnesseth: That the Haiy these presents doth grant and convey to the said party of the sooond jiart, the following described goods, chattels, and projierty, (dcHcrif/c tluiii j)(irtit'u/(trli/, or refer to them in (he sehepurtenances, and all the estate, title, and interest of the said party of the first part therein. This grant is intended as a security for the payment of one hundred and ten dollars, with interest, on or bet\)re the expiration of one year from the date hereof; and the additional sum of one Jiundred and forty dollars, with interest, on the ■ day of IS — ; which pay- ments, if duly made, will render this conveyance voi 'i. In witness whereof, the said party of the first part hath liereunto sot his hand and seal, the day and year first above written.. Sealed, signed, and delivered ) in presence of >• A. 15. [l. a.] G. n. \ BILL OF SALE. A nill of Sale is a written contract or agreement, transferring and assigning the ownership of personal property, or any interest in t!ie same. If fraudulent, as against third persons, it is void. COMMON BILL OF SALK. Know all men by these presents, that I, A. B.. of the town of , in the county of , and State of New York, of the first jiart, for and in consideration of the sum of dollars, lawful money of the United States, to me in hand paid, at or before the ensealing and delivery of these presents, by C. D., of, &c., of the second part, the receipt whereof is hereby acknowledged, have bargained and sold, and by these presents do' grant and convey, unto the said jiarty of tho second part, his executors, administrators, and assigns, {lure state the 2Woi'icrtij sold,) to have and to hold tho same unto the said pirty of the second part, his executors, administrators, and assigns for ever. Anil I do, for myself, my heirs, executors, and administi'ators, covenant and agree, to and with the said party of the second part, iiia executors, 254 POWER OF ATTORNEY. administi-ators, and assigns, to warrant and defend the sale of the said jiroperty, goods, and chattels, hereby made unto the said party of the Bc cond part, against iill and every person and persons whomsoever. In witness whereof I have hereunto set my hand and seal, this day of , one thousand eight hundred and Signed, sealed, and delivered iu presence of G. H. A. B. [L. s.] POWER OP ATTORNEY. A Letter or Power of Attorney, is a written delegation of authority, by which one person enables another to do .an act for him. When 1 power is special, and the authority limited, the attorney caimot bind his princi[)al by any act in which he exceeds that autho- rity ; but the authority of the attorney will be so construed as to include all necessary means of executing it with effect. WJien tlie power is in writing, and subject to the inspection of the jiarty, no good reason exists for binding the principal beyond the scope of it ; though in general he who employs an agent or attorney shall lose by his fraudulent or illegal acts, iu preference to au innocent third person. GENERAL FORM OF POWER OP ATTORXET. ~ Know all men by these presents, that I, A. B., of , in the county of , and State of New York, have made, constituted, ci,nd ap})ointed, and by these presents do make, constitute, and appoint C. D., of, &e., my true and lawful attorney, for me, and in my name, place, and stead, to {set forth the subject matter of the power;) giving and granting unto my said attorney full power and authority to do and perform all and tvery act and thing whatsoever requisite ami necessary to be done in and about the premises, as fully, to all intents and purposes, as I might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that my said attorney or his substitute shall lawfully do or cause to bc done by virtue thereof. In witness whereof, I have hereunto set my hand and seal, this day of ■ , in the year one thousand eight hundred and . Sealed and delivered in ) the presence of / G. H. ) A. B. [l. s.j REVOCATION OF A POWER OP ATTORNEY. Know all men by these presents, that whereas I, A. B., of, &c., in and by my letter of attorney bearing date the day of ~, in the year one thousand eight luuulred and , did make, constitute, iind a[)point C. D., of, &c., mj' true and lawful attorney, lor me and in my name, to, kc, {here copi/ the lanyiutf/e of the letter of attornej/,) as by the saiil letter will more fuUj'^ appear : nnw know yc that 1, the said A. B., have nn'oked, cuuntermandod, anmilleil, ninl mnde void, and I'V thcs: preseul.i do revoke, countermand, annul, and make void, the said i ( :>^f^Dj5f DEEDS. 25i letter of attorney, and all power and authority thereby given, or intended to be given, to the said C. D. In witness, &c., (as in letter of attorney.) . DEED?. All instruments under seal are deeds ; but the term " deed " is gene- rally understood as applying to conveyances of land. The consideration of a deed may either be good or ralualle. A riood consideration is founded upon natural love and affecth a between near relations by blood; o. valuable consideration is founded on something deemed vahiable, as money, goods, service, or marriage. Every deeel or contract ia void when made for any fraudulent purpose, or in violation of law. A SIMPLE DEED. - . . day of This indenture, made the - one thousand eijrht hundred and in the year of our liord -, between A. li., of, &c., of the fivrit part, and C. D., of, &c., of the second part, witnes.seth : That the said party of the first part, for and in consideration of the sum of dollars, to him in hand paid by the said party of the second part, the receipt whereof is herebj^ acknowl.xlged, hath bargained and sold, and by these presents doth bargain and sell, inito the said pai-ty of tlie second part, and to his heirs and assigns for ever, all {Itcre describe the premises;) together with all and singular the hereditaments and appur- tenances thereunto belonging, or in anywise appertaining; and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof ; and also all the estate, right, title, interest, claim, or demand whatsoever, of hi in, the i-aid party of the first part, either in law or equity, of, in, and to the above bargained ])remises, and to every part and parcel thereof ; to have and to hold to the said party of the second part, his heirs and assigns, to the sole and only proper use, benefit, and behoof of the said jiarty of the second part, his heirs and assigns for ever. In witness whereof, the said party of the first part has hereunto set his hand and seal, the day and year first above written. Sealed and delivered in ) presence of / A. B. [l. s.] G. H. ) QUIT-CLAIM DEED. Know all men by these presents, that we, A. B., of, &c., and E., the wife of the said A. B., in consideration of the sum of , to us in hand paitl by C. D., of, ike, the receipt whereof we do hereby acknow- ledge, have bargained, sold, and quitclaimed, and by these presents do bargain, sell. \nd quit-claim unto the said C. D., and to his heirs and assigns for ever, all our, and each of our right, title, interest, estate, claim, and demand, both at law and in equity, and as well in possession as in expectancy, of, in, and to all that certain i)iece or parcel of land situate, {here give description,) with all and singular the hereditaments and appurtenances thereunto belonging. 256 MORTGAGE. In wif.ness whereof, we liave hereiinto set our hands and seals, the day and year first above written. Sealed and delivered in ) a -r. r -, [ A. B. [l. s.] E. B. [l. s.] presence of G. H. ) WARRANTY DEED. To all people to whom these presents shall come, greeting : Know ye that I, A. B., of, &c., for the consideration of dollars, received to my full satisfaction of C. D., of, &c., do grant, bargain, sell, and con- firm unto the said C. D., his heirs and assigns, all [here (jlve description ;). to have and to hold the above granted and bargained premises, with the apjnirtenances thereof, unto the said C. D., his heirs and assigns, to his and their own pi-oper use and behoof for ever. And 1 do for myself, and my heirs, executors, and administrators, covenant with the said C. D., his heirs and assigns, that at and until the unsealing of tliese presents, I am well seized of these premises, as a good and indefeasible estate in fee simple, and have good right to bargain and sell the same, in man- ner and form aforesaid; and that the same is free from all encumbrance whatsoever. And further, I do by these presents bind myself and my heirs to warrant and for ever defend tiie above granted and bargained premises, mito the said C. D., his heirs and assigns, against all claims and demands whatsoever. In witness whereof, I have hereunto set my liand and seal, the day of , in the year one thousand eight hundred and . Sealed and delivered in ) presence of > G. H. A. B. [l. s.] MORTGAGE, Tliis indenture, made the day of — ■, in the year of our Lord one thousand eight hundred and , between A. B., of, iV'j., of Uie first part, and C. I)., of , of the second part, witnesseth : That the said ]iarty of the first jiart, for and in consideration of the sum of • dollars, doth grant, bargain, sell, and confirm unto the said party of the second part, and to his heirs and assigns, all {description ;) together with all and singular the hereditaments and appurtenances thereunto belonging, or in anywise api)ertaining. This conveyance is intended as a mortgage, to secure the payment of the sum of dollars m years from the date of these presents, with annual interest, according to the conditions of a certain bond, dated this day, executed by the said A. B. to the said party of the second ]iart ; and tliese presents shall be void if such payment be made. But in case default shall be made in the payment of the principal, or interest, as above provided, then the party of the second part, liis executors, admi- nistrators, and assigns, are hereby empowered to sell the premises above described, with all and every of the appurtenances, or any part thereof, in the manner jireseribed l)y law ; and out of the money arising from such sale, to retain the said principal and interest, together with the coats and cliarges. raiNTED BT BA1.LANTVNE AND COMPANY, PAUL'S WOUK, EDINBUROH. m^~-Jt to t -V»: if.