LO.SS AND GAIN. 685 



column the respective shares of the net gain. This having been done, the 

 account will balance. 



279. If the tl'hlt side be the larger, the amount the debit exceeds the 

 iit is tin- n- f loss for the firm, or the net business lo*. \Ve then divide 

 this loss among the proprietors pro rata or equally, according t> ;eiit 



at commencement of business, and write on the credit side of this account, 

 .-d ink, the names of each of said proprietors adding, after each, 

 Private account," and extending into the money column their respective 



s of the net loss. This account will then balance. 



JSO Closing No. -. The same as Closing No. 1 in every particular 

 excepting one that of adding "Stock account" after the names ins: 



Private account." 

 2nd. Rule the closing lines and write the total amounts betw 



2SI. 3rd. Closing No. 1. If there be a net business gain, carry over 

 to the credit sides of the respective Private accounts of each member of 

 tin- firm, the respective shares of such gain (ay indicated in red ink on the 

 debit side of this account) writing on the credit sides of these Private 

 accounts, in black ink, " By J Net Gain," or whatever the proportion may 

 be. (See Gl.) 



282. If a net business loss, carry over to the debit sides of the r- 



live Pi'-i',,te accounts of each member of the firm the respective shares of 

 h loss (as indicated in red ink on the credit side of this account) 

 writing on the debit side of these Private accounts, in black ink, " To \ 

 Net Loss," or whatever the proportion may be. (See GO.) 



xJ*:{. Cl -i ng No. 2. If there be a net business gain, the respective 

 shares of such gain are carried direct to the credit sides of the r 

 Stock accounts of the members of the firm, instead of the Private accounts, 

 as in CloMiii,' No. 1. (See 54-.) 



*-J^ I. If a net business loss, the iv>pcctive si::;- ftre carried 



direct to the dobit sides of the rcspectiv account Mirml.rrs 



of th- firm in>t--ad of to the Private accounts. a s in ( 'losing N< 1 . 1. t'Se. 



283. The difl'n green < 'lo>ing No. 1 and Closing No. 2 is a 

 In tin- former we carry from the Private AOOOUnl 



ordain to tin- ivsprti\. account- latter, v. 



S ( lain account to the IT 



accounts, and then we carry t<> the same UQta the 



amount by each drawn <>ut I'm- private use, as shown by the Private ac- 



