DIRECTIONS FOR OPENING A SET OF DOUBLE ENTRY BOOKS. C93 



certain bill, we refer to the credit side of the firm's account in the Ledger 

 and find the Journal page upon which the bill was entered ; thru look for 

 the file of bills which has on it this Journal page, when, as they are ar- 

 ranged in alphabetical order, the bill may be easily found. When there 

 are too many bills to get into one volume, divide and bind them in two 

 nore volumes; but never divide a page divide the bills according to 

 the Journal pages, and not according to the number of bills. 



ON COPYING LETTERS. 



JJ1O. In copying letters in a letter-book, get a set of good, clean blotters, 

 tin owing away the oil-board. A much clearer copy can be made by usin^ 

 blotter-;, and the copy is never so blurred and blotted that it can scarcely 

 be read, as is often the case when oil-board is used. Use the blotters in 

 the same manner as you used the oil-board. 





DIRECTIONS FOR OPENING A SET OF DOUBLE ENTRY 

 BOOKS FOR A FIRM JUST STARTING IN BUSINESS. 



311. In opening a set of double entry books for a firm just starting in 

 business, a statement of the actual assets and liabilities by each member 

 inve>ted should be made before an entry is made on the books. Then a 

 entry should be made in the Journal for each member of the firm 

 for such investment. When two or more persons first enter into a copart- 

 :iip business, under a certain firm name, the individual assets by each 

 inv. ///' firm's asset* ; and, therefore, the assets by each in- 



..iv debited to the linn's accounts represent iiu: . and the in- 



dividual liabilities by each invested become the firm* //' 



liabilities by each invested are credited to the linn's accounts 

 .tini; liabilities; then the firm hecom-'s indebted to each member 

 of the firm for the amount that the individual assets by each inv. 

 d the individual liabilities; consequent ly, each member muv 

 lited f"i- the ditKei-.-m-e between his total individual liabilities and hi 

 ! individual \Vh.-n the entries have been made in accMnlance 



with the f,)re-_:-'.iii'_r rem&rkfl, th- Ledger will balance and 



ACCOrding to the rules of double elltl Hid ~>\\. 



illu to 3C9. 



