Imagens das páginas

(1) Dr. Hiram

Horner. Cr. 1828.

1828. Jan. 1 To bal. of acct, folio I 113 78 Jan. 17. By cash

100 99 16 sundries

80 39 31. " bal. to leg. C. pa. 9|| 9417 Note. Here the debt

NOTE. On writing up side is the largest, and $19417

the leger, each charge $19417 the acct, is made even

must be post marked, by carrying the am.due

when transferred, by to thé debit side of leg'r

placing the folio to c. The bal. 94.17,

which it is carried, in will be an item in the

the margin between new inventory.

two parallel lines. Dr. Ralph

Randall. Cr. 1828.


Jan. 2.
41 67
By sundries

Note, Here the debit
and credit are equal,
the acct. therefore bal-
lances itself.

Jan. 1. To sundries


49/87 501 4564


Cr. 1828.

1828. Jan. 3. To sundries

2358|| Jan. 9. By sundries 13. ditto

7961 28.

cash 17. ditto

32 32 31, “ bal, to leg. 10 Note. If upon exam

Erasures should not be ination, errors have 13551

allowed, but the whole been cómnitied in pos

should stand fair and ting, they should be

full, and free from suscorrected by eounter

picion. charges in the leger.

135 51

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(2) Dr. Thomas

Thrifty. Cr. 1828

1828 Jan. 12 To cash

150 Jan. 6 By sundries
18" sundries

118 13
23 ditto

510 31 " cash

66 bal. to leg. 16 284 46

Note. The balance of $902 59 284.46 will go to the cred

it side in leger C. and $902 59

show that so much re

mains unpaid. Dr. Sam’l. S.

Snow.Cr. 1828

1828 Jan. 9 To sundries

117 28 Jan. 13 By sundries
25/ 66 ditto
79 50

291 66

14063 31 “ bal. to leg. C. p. 15 14013 Note, Accounts are said 33741

is balanced though the 33741 to balance when the debit

account is not settled; for and credit sides are equal

all balances are carried --or amount to the same

forward to a new book, sum. If the debit side is

and n main unliquidated the smallest sum, then a

charges. Balancing the charge is made for the

accounts, therefore, imbal.; and if the credit side

plies, in this sense, mereis a smaller sum, then a

ly balancing the books, credit is entered for the

for the purpose of opendeficiency, and the book

ing a new set.



Dr. Daniel 1828 Jan. 17 To sundries

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160 50 22 i cash

62 50 31 " bal. to leg. C. p. 194758


Dr. Benj. 1828 Jan. 18 To bal. of account

66 sundries

Dr. George 1828 Jan, 18

To sundries

ditto 23

«bal. to leg. C. p.18 31

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Dr. Enoch
Jan. 25 To sundries

27 note
31 " bal. to leg. 19

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T. Thrifty


To cash on hand 1964 57 31 By N. Noble

“ S. S. Snow

150 500 " Bank of Utica 27

"cash on hand 284207 + E. Enos


" P. Pimp
E. Enos

“ the drawer,4th week 302 50

3092 07 Note 1 This specimen represents the mode of keeping the cash book, when it is balanced but once a week. It is more usual, however, to balance the cash account each day. Cash in bank, is cash on hand.

Note 2. In order that A B may know the result of his month's work, he must proceed and take an inventory of stock, rating each article at prime cost; and subtract the amount from his first stock; then the balance of what he has due over what he owes, with the excess of his cash over his first stock will show what he has gained by trade.

An Improved method of keeping accounts. The third and last form of book keeping, which I shall present to the consideration of the inquiring pupil, is a recent improvement of the old Italian method of book keeping, by double entry. This plan is based upon the hypothesis, that every debit has a corresponding credit, and every credit a corresponding debit. Only two books are requisite; one called the day book, which in fact is both day book and journal, and the other, the leger. The following specimens will sufficiently illustrate the mode of preparing and keeping both books.

To simplify the subject of accounts, it may not be improper to arrange them under three heads: real, personal, and imaginary.

Real accounts, are those which refer to bonds, notes, fast property, merchandise, &c. each of which may have its separate title in the leger. Personal accounts are the debts which stand charged to individuals, and imaginary accounts are nothing more than fictitious tities invented to represent the merchant or factor: they refer to loss and gain, interest, commission, &c.

The debits and credits of all titles admitted into the leger, may be regulated and adjusted by the following general

Rules. 1. A real account is made Dr. when property passes into the hands of the merchant or buyer, for all it costs, and also for all charges for repairs, improvements, &c.—and it is made. Cr. when it goes out of his hand, for all it brings, and likewise for rents, profits or interest.

2. A personal account is made Dr. when the person gets trusted, for the amount of trust; and also when he is paid the whole or a part of what he may have trusted:-and he is made Cr. when he pays the whole or a part of his debt, and also when he extends the amount of his credit.

3. An imaginary account is made Dr. when a loss is sustained; and it is made Cr. when a profit has accrued.

In all cases when property of any kind, comes into your liands, it is debited for what it costs, and the property with which you pay, is credited for the amount paid. "Thus: A B, the merchant, buys a house and pays half money and half goods;--now, real estate is Dr. and cash, and merchandise are Cr. He exchanges a lot of coffee for a lot of tea;-here merchandise is Dr. and merchandise is Cr. A B receives interest on a bond;—here cash is made Dr. and profit and loss is Cr.--therefore, the thing received is made Dr. to the thing delivered, and the thing delivered is made Cr. by the thing received. This principle is inseparable from every transaction.

The ordinary negotiations of a merchant, are-buying and selling; receiving and paying; assigning and settling; drawing and remitting; borrowing and lending; insured and getting insured; protesting and paying protests, shipping and receiving shipments, &c. and all or any of these he may do for himself, or as an agent for others.



Bolton, Mass. 1828.

Inventory of the effects of A B.
Jan. 11106 acres of land, house and barn, &c, 3180,00

1 yoke of working cattle, 5 years old, 807
1 span of bay horses, 6 years old, 180
4 milch cows,


>461 6 head of neat stock,

72 30 head of sheep,

45 4 head of store hogs,

20 3 bbls. mess pork,

307 1 do, prime heef

10 300 bu, wheat in sheaf,


300 “ corn,

1400 66

20 tons of hay,

120 Farming utensils, and housebold furniture, 250 250

471232 A B stands indebted as follows: A bond to CD, in part pay't for farm, 1300.00 note to H. Henshaw, at 6 mo.

113.361 On acc't, D. Dunbar,

27.50 do H. Holbrook,


1457 61 Sold High Holbrook, dei'd at his barn, on acc't, 3 tos of hay, at 7.50, per receipt,

22 50 3 Sold Peter Prouty, for cash, del'd at my house, 80 bushels of oats, at .28 cts,

22.40 50 do. corn“.50 cts.




4||Bought of James Johnson, on a credit of

mo. for
which I have given him my note, 1060 lbs. of flax

at 13 cts. deli'd at my house,
Sold Daniel Dunbar, 250 bushels of wheat,
at 93 cts

232 50
100 bushels corn, at ,50 cts.

50 100 do. oats, at.28 cts.



Rec'd in pay't, bal. of his acc't against me
His note at 3 mo. on int. for the bal.

27 50

$310 50
Discounted my note of $137.80, in the hands of J.
Johnson, at sis mo. for 7 per cent. per ann.
Paid him in cash,

132 97
Discount allowed,

4 83


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