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We would, therefore, recommend the Accountant to take his Trial Balances upon paper, separate from his other books, to be filed away by themselves. What of the Trial Balance? (Art. 26.)

35. If the Student desires practice in Journalizing, there is nothing in our arrangement which will prevent him from Journalizing quite as much as he desires, but we do insist that he should first learn to Post all our Exercises, then he can go back to the month of January, and Journalize the Original Entries for all the months which follow, and this shall be his rule : The several items, which would be carried to the Debit side of the Ledger, in Posting, should be carried to the Debit side of the Journal, in Journalizing; and the several items which would be carried to the Credit side of the Ledger,


1851. Jan. 8 To Cash en Jas. Kellijs Not. 16

. Feb. 21, Sundries, on John L. Jack- 18

son's Acceptance Mar. 29 To Sundries, for discount on Wm.


Page's Note




1851. Fel. 67 Cash..

161 54 30

in Posting, should be carried to the Credit side of the Journal, in Journalizing (pp. 13, 15,) (Art. 32). What of Journalizing ?

36. Bank Account. This account is opened with the name of some particular Bank, and is Debited with the amount of every deposit made in the Bank, and Credited with the several amounts drawn out. When an indi. vidual deposits money in a Bank, he is said to open an account with the Bank; and when he continues to deposit and to draw out money, he is said to keep an Account current with a Bank. Cash deposits are made for the safe keeping of money; and there are many other articles which may, with the same propriety, be deposited in a Bank, such as Notes, Wills, Leases, Policies of Insurance, etc. Some individuals make all their notes



Mar. 7 By Billo Payable)

Profi and Lofo Au. 20)-.

3 36




By Profit and Lofs Art. 20)-- 42

54 30

payable at the Bank, and make all their Cash payments by giving checks upon the Bank (Art. 9). What of Bank Account?

37. PERSONAL PROPERTY ACCOUNT. On the Debit side, we enter the amount of Outlay for such movable property as livery, furniture, cattle, etc., and, on the Credit side, all Returns arising from the sale of such property (Art. 3, 11). What of Personal Property Account?

38. PRIVATE EXPENSES. The Debit side of this account shows our Outlay for Private Expenses (Art. 10).

39. Our object, thus far, has been to lay before the Student a brief outline, and to initiate him into the ground rules, and leading principles of the subject. We have not aimed to tell all that can be said upon the va


1851. Feb. 12 To Cash, on broken Bank Billo.. 18

11 T Interest..

11 Stock /Art. 1, 20, 22)...

3 36

54 30

199 94

457 60



To New Account

452527 89

2527 89

rious subjects presented, but rather to train the Student upon the Elements, in order that he can vary and devise plans as circumstances may require. The Accountant, thus trained, will perceive and avail himself of every improvement that can be made in the system of accounts which he may be required either to keep or to examine. Thus it is customary, with some Accountants, not only! to Credit Bills Receivable for the amount of every note disposed of, but to check the same upon the Debit side ; and to check, on the Credit side, in a similar manner, the Bills Payable as they are severally redeemed. The advantage of these and similar devices, will appear obvi. . ous as the Student proceeds; they are to be regarded merely as suggestions, yet they should be verified in the Exercises which follow. The various kinds of bu

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By Sundries

Profit and Lofo Art. 1) --- 44

12 || 232795

199 94

2527 89

By Old Account (Aut. 29)....

2527 89

siness will often require much ingenuity and tact in order to manage them with ease and perspicuity.


1. The Student should consider the business which is transacted as his own, and open an account in the Ledger for every branch of the same.

2. It will be perceived that the object of Balancing has been two-fold : 1st. To learn the exact state of our affairs; and 2nd. To add the Profits to the Original Capital periodically (Art. 23).

3. The Balance Sheet (p. 47) exhibits two methods of showing our Present Worth, and if the work is correct, our Present Worth, as exhibited in the first and second parts of the Balance Sheet, will always be the same; hence we conclude, that whatever our losses or gains

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