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The Farmer's mode of keeping accounts by debit and credit. NOTE. The Farmer may at all times know the state of his acc't. by balancing each, and carrying the results to a balance sheet. His cash acc't. may be settled weekly, or monthly. In that acc't. he will debit all he receives, and credit all he pays away; the am't. on hand will always bal. the acc't if kept right.

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1828.

at 10s.

By cash, on acc't. as per receipt of this date*
"amt, of bal. to book C. page 13.

*

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Agreeably to the laws of this state, cash $ 1975 $ 1975

items, in a general running acc't, must be ad-
mitted or proved by parole testimony, or paper
voucher, otherwise they are not recoverable;
therefore, it is safe for every one who pays
away money, to take a receipt for the same;
for the form of which, see article on notes,
bonds, &c. appendix.

Remsen Ballot,

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gar at 44s.

at 5s.

18." 40 bu. potatoes, at 2s 6d, 1 bbl. cider vine

+66 "1 bbl. mess pork

June 13. By cash on acc't as per receipt

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an order on B. Bolts accepted*

Aug. 1." bal. of acc't to book C. page 31

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* Ballot's order on Bolts accepted, is regard- $ 7350 $ 7350

ed in law, in the light of a note of hand, both parties are holden for the amt; if paid by Bolts, Ballot is released; but if paid by Ballot it is still an evidence of debt against Bolts, for it was drawn for value received; the proof of which is the entry in the acc't and the acceptance. James Johnson, May 6. By labour of his son John 3 mo. at 9 doll. "To 6 bu. seed wheat, at 10s.

1828.

66

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Dr. Cr.

$27

$750

750

788

1465

1768

14/04

1675

"1 bbl. mess pork

June 12. By amt. of bil of lumber deliv'd D. W. Hill as

pr. receipt, and carried to my credit pr. cer-
tificate

July 1. bal of Cr. carried to folio 2d.

135 36

76 36

$162 36 $162 36

James Johnson,

By bal. of acc't, from folio 1.*

July 9. To a span of colts, two years old, per receipt

66

a second hand wagon

Aug. 1. By note at 3 mo. in full of acc'ts

1828.

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* When the space or page allotted to one acc't, $122 36 $122 86

is filled up, the balance may be struck and
carried to a new page, or the whole amt. of
each acc't, may be carried a head; then the folio||
to which the acc't is removed should be enter-
led, and the new acc't should refer back to the||
page whence it was 'brought, as in the above
example.

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July 1. To amt. of lumber delivered by J. Johnson per

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certificate

6. amt. of butter and cheese, del'd as per rec't Aug. 1. By amt. of bill of iron, del'd T. Smith

By error in amt. of note*

To note of hand on demand for bal. of acc't

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1823.

*When an error occurs either in debit or $27572 $275 27 credit, it is better to make the correction by an opposite entry, as in the above example, than to attempt it by altering the figures or by an erasure, either of which, generally leaves the book blotted and unintelligible, and the acc't subject to exceptions.

Thos. Smith,

To bal. of acc't from book A. folio 35.

May 2." 100 cords of hard wood standing, a 31 1-4

July 6."amt. of bill of iron, delivered by D. W. Hill

cts. per cord

per rec't

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15. By cash on acc't per rec't

Aug. 1. bal. to book C. folio 37.*

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1828.

*The amt. of credit here entered, is intro- $35373 $35373 duced merely to bal. the acc't, and not as a payment or a settlement of the acc't. In book

C. folio 37, it is there entered in the debit col

umn, as a bal. still due. (See Remson Ballot's
acc't for example.)

Rural Tibbitts,

May 2. To sundry articles del'd his order
"100 bu. corn, at 4s, 80 bu. rye, at 7s
"50 bu. what, at 9s, 250 bu. oats at 2s 6d

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Dd

Brought over.]

Rural Tibbitts,

June 16. By his draft on Manhattan Bank, N. Y.
Aug. 1. "my note on demand for bal. of acc't*

1828.

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*When neighbours get together and settle $400 78 $400 78 their acc'ts, it is common for them to record the settlement in their respective books, in the following words:-This day reckoned and settled acc'ts with R. Tibbitts, and found due him, fifty dollars 78-100, for which I have given my

note.

Bills & Notes,

A. B.

June 13. By Ballot's draft on B. Bolts, unpaid
16. Tibbitts' draft on Manhattan bank, unpaid
Aug. 1. To note for bal. of acc't at 3 mo. J. Johnson

R. T.

Dr.

Cr.

$ 35/50

350

$4794

note for bal. of acc't

D. W. Hill

4160

R. Tibbitts

5078

"bal. of bills and notes in hand*

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"note for bal. of acc't

*This acc't shows the amt. of bills or notes $38550 $385 50

on hand, their dates, &c. and also those which

are out, and remain unpaid.

When any one of these notes are paid or received, the entry should be made in the cash lacc't.

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July 1. To 1600 feet oak timber, 14 by 16, at 27 cts. a

foot

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"36 cords of wood, del'd at his landing a 228 79210. By cash on acc't per receipt

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NOTE. 1. Had this illustration of book keeping been commenced by an inventory of A B's effects, then with the aid of a second inventory and the data furnished by the record of the foregoing transactions, it would not be difficult to find what A B had made during three months, and also what he is actually worth.

NOTE. 2. A B might have opened an acc't with his farm, or any particular branch of pursuit, charged it with the first cost, and what ever he expended to carry it on, and given it credit for all the proceeds taken from it.

NOTE. 3. The eldest child, whether a son or a daughter, (for ladies in this country should be accountants, to a certain extent, as well as gentleaen,) should, as soon as their age and acquirements qualify them for the task, be requested to make all the entries in the father's account book, and be present at all settlements, which will not only give the father an opportunity of proving his account, if necessary, but initiate the child into an acquaintance with a subject which is intimately connected with all the transactions of life.

NOTE. 4. The foregoing examples are deemed sufficient to illustrate this simple mode of registering accounts. Any man capable of writing and casting figures, may adopt this system without the least difficulty; in fact, it is strictly applicable to various and extensive dealing.

The Trademan's mode of keeping accounts.

The second form of keeping accounts, is that which has been long in use and is still continued by the generality of mechanics and traders, and by some merchants. It requires a Blotter or Day Book, a Leger, and a Cash Book.

In the blotter are entered the debits and credits, or particular transactions of each day, in the order in which they occur.

These entries are subsequently posted into the leger under the appropriate name or title to which they belong, and in a fair and legible hand.

The cash book is nothing more than a registry of the receipts and payments made in money; it may be settled each day, week, month or year, as may best suit the owner.

The subjoined examples will fully illustrate the mode in question, and the particular form of each book.

The day book opens with an inventory of the owner's ef fects, &c.

Inventory of A B's effects, taken Jan'y. 1, 1828.

1

(Amt. of stock in trade as per bills rendered

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of debts due per balance of leger A.

H. Hill's note due May 1, $256 Int. 6 mo. 8 96
D. Dunn's note on demand 312, Int. 12.50
B. Ball's note due Jan'y 2, 1829

C. Crafts note on demand

Amt. of bal. due from A B, as per leger A.*
A B's note to P. Pond-due Sept. 10
A B's note to W. Willis-due June 6
Acceptance of D. North's-due March 4

Utica, Jan'y 1, 1828.

Hiram Horner,

To amt. of his account from leger A. Dec. 16, 1827
By amt. of his bill of repairs, &c. rendered this day

and on file

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To 5 yds. Am. print, a 32 cts., 30 yds. cotton cloth,

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a 15 cts.

610

1

"12 yds. ging'm, a 25 cts. 16 yds. Irish linen, a 87 cts. "3 yds. black broad cloth, at 5.50. trimmings for

1670

coat and vest, 2.37

1887

41.67

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