BOOKKEEPING. 



BOOKKEKI-IM; 



8. 



Thin u the account of the good* which the merchant sent to Hull 

 It is debited with the value of the goods, and with the expenses 

 the adventure, and credited with the returns, lu this cage, 



the returns fell short of the outlay ; the difference u therefore loan, 

 which must be entered on the Or. side of this account, and from 

 there carried to the Dr. side of Profit and Loo. 



9. 



Thin and the three following are Personal accounts. In each case 

 the pcnou in debited with what he receives, and credited with what the 



merchant receives from him. In this case the two sides of the account 

 are equal, the account is therefore clear. 



10. 



Hit. 



J. JENKs. 



CB. 



In this case the Dr. side is the greater, therefore J. Jeuks owes money to the merchant. 



11. 



In this cac the Cr. side u the greater, therefore the merchant owcn money to K. Lloyd. 



12. 



This account is precisely similar to the preceding account. 



13. 



All ex|x.t:>litu>v ill rv|*ct of which nu return* are received, such as 

 rant, wage*, interact of money borrowed, ftc., may be placed direct to 

 the dtbit of IVofit and lam ; and all rcoeipU in rccpect of which no 

 property u exchangad, cuch as rommiation and ducounU, may be 

 placed direct to the credit of Profit and Low, or teparate account* of 



them may be opened, and only the balance transferred to that account 

 when the book* are to be balanced. In this exemplification wt hn 

 taken the first course with respect to Vvmmiuivii, and the sccuud 

 course as regards Kent and Waytt. 



