II. SINGLE ENTRY BOOKKEEPING.

In opening a set of books, decide on a plan of keeping the accounts, determine what books are necessary, and make a statement of the proprietor's assets and liabilities.

David Scott, grocer, decides to keep his books by Single Entry. He will use blotters (the Blotters are books kept on the counters in which the clerks make pencil memoranda of sales) and will post all charges for goods sold on account to the Ledger. There will be kept a Cash Book, the left hand or Dr. page of which will show all receipts, and the right hand or Cr. page of which will show all payments. All amounts received and paid on account will be posted; items not to be posted will be checked. Also a Day Book, in which he will enter any charges or any credits that cannot be placed in Blotter or Cash Book. An Invoice Book, in which he pastes the bills. Lastly, he will keep a Ledger, which shall contain accounts with all his customers who do not pay cash, as well as accounts with the wholesale houses from whom he buys goods on time, and an account with himself, which shall show amount invested, amount withdrawn, and gains and losses.

Transactions.-While many more transactions actually occurred, enough are given to show the plan of keeping the books. The closing is done at the end of the month to show the gain or loss and how the statement is made. This closing would ordinarily be done at the end of the year.

Mr. Scott invests $3,000.00 and deposits $2,800.00 in the bank under date of Jan. 2, 1895.

Rents store, 6140 State Street, takes a three years' lease at $480.00 per annum and gave check for January rent ($40.00) to E. A. Cummings & Co., Agents.

Bought horse and wagon for $350.00; gave check.

Bought fixtures and furniture of A. H. Revell & Co.; bill $120.00: paid by check.

Bought blank books and stationery of the A. C. McClurg & Co. for cash, $23.10.

3d-Bought of Sprague, Warner & Co. on account Mdse. per Invoice, $540.00. Cash sales, $32.50. 4th-Bought of Barnett Bros. for cash. produce, $65.25. Cash sales, $28.75. 5th-Sold Mrs. Jas. A. Parker, 3 doz. eggs @ 15c, 1 doz. oranges 40c,

10 lbs. sugar @ 5c, 1 peck potatoes 25c, 2 lbs. coffee @ 38c; 1 bottle lemon extract 20c, 1 broom 30c, 2 lbs cheese @ 15c, 1 can blackberries 25c. Cash sales $31.00. Paid help for the week $24.75.

7th-Cash sales $37.50.

8th-Bought of W. M. Hoyt & Co. on Acct. Mdse. per Invoice $235.70. Cash sales $28.90.

9th-Sold Henry M. Hunt on Acct., 5 lbs. sugar @ 5c, 4 bars soap at 6c, 2 lbs. chocolate @ 35c, 1 bu. apples $1.25. Cash sales $21.50.

10th-Bought of Safe & Lock Co. fire-proof safe $162.00; gave check Cash sales, $34.00.

11th-Bought of Sprague, Warner & Co. Mdse. per Invoice $265.75. Cash sales $28.90.

12th-Sold Mrs. Jas. A. Parker on Acct., 3 gals kerosene @ 13c, 1 bbl. flour $4.25, 2 gals. molasses @ 70c. Cash sales $27.50. Payroll for week $25.00.

14th-Sold Mrs. Chas. A. Brown on Acct., 5 lbs. crackers @ 7c, 1 bottle pickles 18c, 1 can corn 15c, 1 bbl. flour $4.60. Cash sales $32.00.

15th-Cash sales $29.00.

16th-Received of Mrs. Jas. A. Parker $3.41 on Acct. Cash sales $35.00.

17th-Drew $50.00 for private use. Cash sales $38.00.

18th-Cash sales $40.00.

19th-Sold Mrs. Jno. McDougall on Acct., 1 doz. eggs 15c, 2 brooms @30c, 2 lbs. coffee @ 35c, 1 bu. potatoes $1.00, 3 lbs. butter @31c. Cash sales $29.40. Payroll for week $26.50.

21st-Cash sales $46.05.

22d-Bought another horse and wagon for $310.00; gave check. Cash sales $38.90.

23d-Sold Henry M. Hunt on Acct., 2 doz. eggs @ 121⁄2c, 1 lb. butter 31c, 1 bbl. flour $4.50, 1 peck potatoes 25c, 4 lbs. sugar @ 5c, 2 cans peaches@ 30c. Cash sales $38.00.

24th-Bought of Barnett Bros. for cash, Mdse. $75.00. Cash sales $40.00.

25th-Cash sales $52.10. Bought of W. M. Hoyt & Co. on Acct., Mdse. per Invoice $240.75.

26th-Cash sales $54.00. Payroll for week $26.00.

28th-Cash sales $60.00.

George W. Wootten concludes to enter into partnership with David Scott and articles of agreement are drawn up which state, among other things, that said Wootten is to contribute an amount equal to said Scott's net capital. An inventory of the stock is taken, which shows Mdse. on hand at cost prices $830.25; horses and wagons worth (cost) $660,00; furniture and fixtures worth (cost) $282.00. A statement is prepared to ascertain Mr. Scott's present capital, and at the same time this capital is compared with his investment to show the gain or loss. When the gain or loss is determined an entry should be made to transfer it to David Scott's account. This account may then be closed, Balanced, and the Balance brought down.