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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 hal. the acc't if kept right.
gar at 44s.
6/25, By cash, on acct. as per receipt of this date*
bonds, &c. appendix.
Cr. May 1. By bal. of acc't from book A. pa. 10.
1675 June 13. By cash on acct as per receipt
18 an order on B. Bolts accepted*
3550 Aug. 1. “ bal. of acc't to book C. page 31
the entry in the acct and the acceptance.
Dr. May 6. By labour of his son John 3 mo. at 9 doll.
788 17. 146 1-2 lbs. of cheese at 10 cts.
14/65 " 136 lbs. butter at 13 cts.
1768 “ 156 lbs. ham at 9 cts.
14/04 “ 1 bbl. mess pork
1675 June 12. By amt. of bit of lumber delivd D. W. Hill as
pr. receipt, and carried to my credit pr. cer-
135 36 July 1.6 bal of Cr. carried to folio 2d.
76/36 $162'36 $162 36
16 9 do. rye,
$ 76 36
Dr. Cr. By bal. of acc't, from folio 1.*
100 July 9. To a span of colts, two years old, per receipt a second hand wagon
46 50 Aug. 1. By note at 3 mo. in full of accts
* 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 entered, and the new acc't should refer back to the page whence it was 'brought, as in the above example.
Dr. Cr. July 1. To amt. of lumber delivered by J. Johnson per certificate
$135 36 6. amt, of butter and cheese, del'd as per rec't Aug. 1. By amt. of bill of iron, deld T. Smith
$265 72 By error in amt, of note*
10 To note of hand on demand for bal. of acc't
* When an error occurs either in debit or||$27572||$27527 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.
31/25 July 6. " amt. of bill of iron, delivered by D. W. Hill
2651721 15. By cash on acc't per rec't
$300 Aug. 1. “ bal. to book C. folio 37.*
*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 column, as a bal. still due. (See Remson Ballots
acc't for cxample.) 1828. Rural Tibbitts,
Dr. Vay 2. To sundry articles del'd his order
To error on entry, Aug. 1, my note
My note to balance acc't
* When neighbours get together and settle $40078||$40078 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 hiin, fifty dollars 78-100, for which I have given my note.
R. T. 1828. Bills d. Notes,
Cr. June 13. By Ballot's draft on B. Bolts, unpaid
$ 35 50 16. " Tibbitts' draft on Manhattan bank, unpaid
350 Aug. 1. To note for bal. of acc't at 3 mo. J. Johnson $ 47 94 note for bal. of acc't
D. W. Hill
4160 “ note for bal, of acc't
50178 6 bal. of bills and notes in hand*
* 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 acc't.
Bailey Bolts, 1828.
date, per bill
greys, as per receipt 27. cash on acc't per receipt Aug. 1.“ bal. of acc't to book C. folio 32.
42 87 59 35
161 50 14528
1828. May 24.
Bolts do do
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 gentlewen,) 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 effects, &c.
Inventory of A B's effects, taken Jany. 1, 1828.
Amt. of stock in trade as per bills rendered
of debts due per balance of leger A.
682 50 264|96 324 50 16444 8414
Amt. of bal. due from A B, as per leger A.'
231 150 100 162
Utica, Jan’y 1, 1828.
To amt. of his account from leger A. Dec. 16, 1827
and on file
Ralph Randall To 5 yds. Am. print, a 32 cts., 30 yds. cotton cloth, 1
a 15 cts. "12 yds. ging’m, a 25 cts. 16 yds. Irish linen, a 87 cts. “3 ýds. black broad cloth, at 5,50. trimmings for
coat and vest, 2.37