16 FARM ACCOUNTING 



The recording of the transactions named above, and in 

 fact the recording of any business transactions accord 

 ing to bookkeeping methods, involves a knowledge of the 

 abbreviations used in bookkeeping. 



A baseball game is reported for a newspaper by a pres 

 entation of the box score. The box score is merely an ab- 

 breviated way of stating the essential facts in the ball 

 game. Essential, here, refers to those facts that are most 

 likely to be used for reference in the future in compiling 

 fielding and batting averages. One cannot readily inter- 

 pret the essential features of the ball game from the box 

 score, unless he is familiar with the abbreviations used in 

 showing the number of hits, runs, errors, assists, and put- 

 outs. 



We are confronted every day with the use of abbrevia- 

 tions in some way or other for the purpose of presenting 

 facts in a brief but intelligible manner. They arc 

 in the preparation of railroad time tables, market quota- 

 tions, and other common ways. 



Bookkeeping abbreviations involve the systematic in- 

 terpretation of business transactions in the books of ac- 

 count. Such interpretation is founded on the fact that 

 every business transaction has a double effect, which needs 

 recording. For example, if Mr. Arnold pays cash for some 

 horses, he decreases his property in the form of cash and 

 increases it in the form of horses. The bookkeeping ab- 

 breviations, then, must show this twofold effect, in order 

 to present the facts properly. 



Before illustrating or discussing the bookkeeping ab- 

 breviations, it is advisable to find out what is meant by 

 some of the terms used in this connection. 



Business Transaction. A bmirwss transaction is a 

 negotiation between two or more persons which affects the 

 value of the property of either or both. Usually some- 

 thing of value is given by each party to the negotiation, 



