32

Trial Balance, (Art 26.) March 27th, 1851.

Face of the Ledger before Balancing the Accounts.
Ledger Title

p. Dr. Side. Cr. Side. Cash....

24.21.55 2064.58 Merchandise

30 2763.00 1520.60 Bills Receivable

1035.60 450.75 Wm. Page..

34
139.80

121.93 J. L. Jackson 36 340.50 272.30 Real Estate

38 300.00 500.00

40 627.80 627.80 Interest.

42

8.30 5.00 Charges

42 54.30 Stock

44

2327.95 Profil and Lofs. 44 200.00 Totals

7890.91 7890.91

Bills Payable

.

may be, or through whatever channels or accounts they may arise, they will affect both parts of the Balance Sheet to the same amount.

4. If the Student thoroughly understands every step which he has passed over, and can give all the rules, suggestions, cautions, and references, with ease and accuracy, he can then transfer the Original Entries (p. 12) for the months of January, February, and March, to his own Day-Book, having nothing more to do with the Journal. The next step is to Post them according to the directions previously laid down. Having completed these three months after the models in the book, the Student will pass on to the months which follow, in a similar manner, observing the directions and references which accompany each.

The First Part exhibits the Face of the Ledger after Balancing, and also the Present Worth, as exemplified from Estate Accounts, and from goods unsold in Gain & Loss Accounts (Note p. 12) (Art. 40).

First Part.
Resour-

Liabil Ledger Tillest Ledger Titles. p.

ilies. Cash on hand... 28 356.97 | Bills Payable). Mdse.

30 1500.00 Personal Acct... Bills Rec. on hand.

32 584.85

ces.

Wm. Page

owos

me.

36

68.20 || Rock

2597.89

2527.89

9597.89

The Second Part exhibits our Present Worth as exemplified from Gain & Loss Accounts (Art. 1, 40). Dr.

Second Paut.

30

42

200.00

Lodger Titlos. to. Lofses. Ledger Tilles. fo. Gains. Cash. 44 200.00 Merchandise

257.60 Interest..

3.36|| Real Estate --- 38 Charges

54.30|| Capital 2327.95 44 199.94 Gain .. 199.94

457.60|| Stock... 2527.89 457.60

Net' Gain

41. In performing the Exercises for this month, the Student will carefully observe the following directions :

1. Examine every entry for the month by the aid of the references, and determine how each one should be Posted:

2. Recite this lesson with great facility, giving general rules for Posting, which shall include the several entries under consideration (Art. 24);

3. Post the several entries for the month according to the references (Art. 33, 31);

4. Test the accuracy of your Posting (Art. 26);

5. Credit each account with the value of its goods unsold (Art. 28);

6. Balance all the accounts opened in the Ledger (Art. 22, 13, 29);

7. Take a Balance Sheet (Art. 23).

NOTE–If we sometimes seem to hurry through with the transactions of a period, it will be overlooked, since our principal object is to secure a practical acquaintance with the whole routine of opening, conducting, and closing accounts.

April 1, 1851.

Articles.

3 & 7

(Art. 41.) Sold

goods to James Calkings, and u. wived his Note at 90 days.

275 60

3

3 & 9 Bought Mdse. of Wm. Page, at 60 days

credit

865 90

5

Sold a quantity of goods to f. L. Jackson,

3 & 91

on account.

17025

7

983 40

3 Bought Merchandise amounting to
and paid

for the same as follows:
Gave . L. Jackson's Noto of fan.

7

Articles.

500
251 20

349 25

이 20 340105

8 Gave my own Neto at 3 months fod
4 Paid the Balance in Cash

8
The Mer. Bank has discounted I. Smith'a

Note held by me when business commenced.

7 Face of the Note 12&18 I allowed discount. 4 Received in Cash..

10
10 & 4 Paid sundry charges Cash.

11
3 Sold goods to the amount of.
received

Note dated
8

my April 7, 1851 12&18 I was allowed discount

4 Paid the balance in Cash.

19 50

400

In Payment

own

17

Exchanged fames Calkins Note, payable
fuly 2, 1851, for Samuel

Long's Note,
for the same amount, payable

on demand. 7 Face of each

275160

12 & 4

3

I allowed discount, Cash payment, on the
exchange of the Notes....

19
Sold goods to Williams ģ Co. amounting

3

to

4 Received, in payment, Cash .
7 Their Note at 6 mos.

for the balance

500 300 2001

Articles.

21

730 45

3. Bought goods amounting to
In payment of

gave

Samuel Longo
7 Note, dated April 17th, 1851 ....
8 Gavo

Note at 3 months..
my
4 Paid the balance in Cash.

275 60

own

300

154 85

22

4 & 9

Recived of f. L. Jackson, Cash on
Acct.

200 35

24

300

1800

of gave my own Note at 3

8

4 * 9 Paid Cash to Wm. Page on account...

26
Bought three Lots on Third Avenue, in
11
New-York City

, amounting to.
In

payment
months.
3 Merchandise amounting to..

Williams y Co.'s Noto, dated April 19,

1851 12 &18 Allowed discount..

4 Paid balance in Cash

650 900

7

200
11 20
61 20

on

65

8001

3 & 20 Lost

damaged goods.

29
3 Sold Mldse. to Wm. Pago amounting to

Received in payment John Thompson's
7

Note at 60 days, fos
4 Received Cash..
9 Balance to remain on account.

3 Sold goods amounting to..
Received payment as

follows:
Sidney Brown's Note, endorsed by James
7
Henry, and duo fune 1st, 1851.

100