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Shipped per brig Ambey Ripley, signed to George Dunlap, Liverpool, to be sold on account og Co. A, an Invoice of
goods bought of Elisha Madison, as fol42 lows: 4 For cash.
-$20,000 36 11. Check on Mechanicó' Bank 1,600 7
Draft on Williams g Co. 197.65 9 The balance on account
650 12 Our commission
448.95 | 92,890 60 (See entry for the 16th of July.)
$ 1,965 T. Wm. Page
his Note at 3 7, 42 moncho
... 1,040 9, 42 T. J. L. Jackson
1,937 || 4,942
We have this day closed Tappen's Sales
3, 42 Taken to our own account Adse. of Co. A 1,350
4, 42| Cash sales of Mdse. Co. A.
4, 42 Cash.
Sold Merchandise, Co. A, amounting to
$7,300 7, 42 Judson Payne's Now
8,700|16,000 Closed sales of Co. A, and rendered to
our partners an account salos. 12, 42 Our commifsion)
1,317 50 9, 42 J. Barnum's third.
8,077 50 9, 42 3. Dunlap's third.
REMARK.—When the sales are closed in a company concern, we first deduct our expenses and charges (but not our share of the cost) from the total sales, and then credit the absent parties with their shares of the net proceeds, debiting the Co. account for the same amount; the balance will then be our share of the net gain or loss.
eldvised by George Dunlap that he shipped from Liverpool to Havana, on the 20th ultimo, per Kingston, Braid, to J. Barnum, on account of Co. A, a quantity of Merchandise amounting,
as per Invoice, to $18,000. 9, 42 Our one-third
Received from Brown g Co., New Ora
leans, account sales of shipment to them per 9, 42 Washington, Batos. Net proceeds........ )
Received, in payment, their draft at sight 4, 42 on Horace Williams, which has been duly
Sold at auction the remainder of Black": 4, 42 consignment to us amounting to, cash..
3,547 12, 42 Our commifsion)
102 94 Rendered Black
an account sales.
14132 21 12, 42 Our commifsion
-$29.11 10,42 Postages and advertising
832 30 4, 42 Paid cash to Frisbee for the net proceeds.-- 12150 91
account sales of shipment to him per
Received from J. Barnum, Havana, ac-
, Davis, on account of Co. A. 9, 42 Net proceeds $8,029 ; our third.
We have received from Geo. Dunlap, Liverpool, account sales of our shipment to him per Amboy, Ripley, on account of Co. A.
-$39,631.47 9, 42 Our third..
Received from J. Barnum, account sales
account of Co. A. Net proceeds $15,000. 9, 42 Our third..
21 4, 42 Total sales of Mackerel, Co. B, cash 12, 42 Our commifsion
Rendered account sales (See Remark, Aug. 25).
Disposed of Judson Payne's Nole
, being compelled to lose half the face of the 20. same
-$4,350 4 Cash received.
4,350 | 8,700
Memorandum. 41 Merchandise unsold as per Inventory.
as per Inventory ..... |14,000 42 Shipment to Liverpool, per Princeton, val. 43 ued at cost
171,464 20 Ship Princeton, valued at cost..
44. Books OF ORIGINAL ENTRY. Whenever the business transactions are extensive, separate books are introduced, one for each important class of transactions ; thus,
The Day Book should contain all necessary statements in regard to our affairs generally, or a summary of the whole concern as often as the nature of the business requires; it also contains such memorandums and entries as do not, properly belong to those books whose office is more specified and exclusive ;
The Cash Book should contain all receipts and payments of cash;
The Invoice Book should contain all purchases of goods except for cash;
The Sales Book should embrace a record of all the sales of goods except for cash;
The Commission Sales Book contains sales effected on commission, (pp. 85), differing from the common Sales Book only in that particular.
The above are called Books of Original Entry, because they contain the first history of transactions, (Art. 2).
Entries are posted from these books daily, weekly, or monthly, as the nature of the business requires; the amounts being passed collectively to their respective places in the Ledger; thus :
Debit Cash (daily, weekly, or monthly), for the total amount of Cash received and Credit the proper accounts.
Credit Cash (daily, weekly, or monthly), for the total amount of Cash paid, and Debit the proper accounts. (Art. 4, 14).
Debit Mdse. (daily, weekly, or monthly), for the total amount of purchases recorded in the Invoice Book and Credit the proper accounts. (Art. 3, 14).
Credit Mdse. (daily, weekly, or monthly), for the total amount of Sales recorded in the Sales Book and Debit the proper accounts. (Art. 3, 14).
Entries upon the Day Book are posted (daily, weekly, or monthly); according to principles already stated.