"Beechwood Farm" or the "Brown Property." Debit and credit 

 as follows: 



xVT THE END OF THE YEAR. 



128. To close; write on the credit side, in red ink, "By 

 Inventory'' for the amount of valuation. The amount the credit 

 side exceeds the debit is tlie gain, and next, write ou the debit side, 

 in red ink, "To Loss and Gain" for antount of the gain. Rule 

 the closing lines and enter the totals between them. Next, write 

 in black ink under the closing lines on the debit side "To In- 

 ventory" and the amount of valuation. Carrying the amount of 

 gain to the debit side of "Loss" "Gain" account, writing in black 

 ink. "By Beechwood Farm" and amount trained. 



In case the debit side exceeds the credit it will be a loss, and 

 in that case the entries are similar to those closing any account 

 showing a loss as explained under the various accounts in the 



illustration. 



99 



