ACCOUNTS, MEMORANDA AND TABLES. 153 



carried forward to the balances account in the annual state- 

 ment. First we have the balance from capital account (61). 

 Next that from profit and loss (62). Later on the amount 

 paid for dividends and the balance carried forward can be 

 entered in columns 63 and 64. Column 65 shows the bills 

 and accounts owing, but unpaid on 3ist December >T$. 

 These items go to make up the liabilities. The company 

 owe the shareholders .232 and ^278, is. 7d., and sundry 

 creditors ^75. The liabilities, it will be observed, are 

 taken from the left-hand page in Form IV. Turning to the 

 right-hand page, we have the assets debts due to the 

 company, stocks and cash. The debts comprise the 

 quarter's income for the fourth quarter of the year and also 

 any arrears unpaid from previous quarters. The stocks are 

 carefully taken on 3ist December, and each item is debited 

 to its respective heading, if such is on the credit side, or 

 credited to items on the debtor side. Coal, being on the 

 debtor side of the revenue, is credited with ^36, making 

 that item ^36 less. But coke, tar and sundry, being on 

 the credit side, are debited, and are, therefore, increased to 

 the extent of ^6, ^5 and 26, respectively. 



Every item in the balances and stocks appears, not only 

 in the current but in the next year's, 1911, account. The 

 ^36 " Cr." by coal in 1910 is " Dr." to coal in 1911, and 

 the 6 "Cr." to coke in 1910 is "Dr." by coke in 1911. 

 It is convenient to enter first the actual expenditure or 

 receipts and to make the adjustment for stocks on ist 

 January and 3151 December, as the closing entries. 



The Books. 



\\e now approach a subject respecting which everyone 

 has his fads and his fancies. I have a strong preference 

 for books of uniform size, and not too large. Foolscap is 



