i3+ BOOK-IC 
be the amount of the property, the balance of Stock ac¬ 
count mull: be the fame with that of Balance account ; and 
for the purpofe of finally doling the books, they are ba¬ 
lanced by transferring the balance of the one to the other. 
Of the JOURNAL. 
The journal, which is ruled and dated like the wafte- 
book, is a fair record of all the tranfadions, compiled from 
the wafte-book, in the fame order as they (land there; but 
expreded in fuch a manner as to fliew to what accounts 
they are to be entered in the leger. From an attentive 
confideration of the principles which have been already 
laid down, it will appear that every tranfatlion in trade 
being merely a change in the difpofition of the property, 
feme account or other mu ft be made accountable for lo 
much as any other account has been difeharged from ; 
and therefore requires to be entered both on the Dr. and 
Cr. (ides of the leger. Hence Italian book-keeping is 
laid to be by double entry. 
To make a journal entry, it is neceflary to confider to 
what accounts in the leger the article will require to be 
placed both on the Dr. and Cr. fides. The general prin¬ 
ciples are : 
1. Every thing received is Dr. 
2. Every tiling delivered is Cr. 
3. Every Dr. has a correfponding Cr. and etfery Cr. 
a correfponding Dr. 
Hence the total amount of the Dr. fides of the leger 
is equal to that of the Cr. fides; and the total amount 
of the journal is the fame with that of either of the fides 
of the leger. 
Rule i. A thing received is Dr. to the thing given for it, 
cr perfon from whom it is received .—-Therefore goods bought 
for ready money are Dr. to cadi. When fold for ready 
money, cath is Dr. to the goods. When bartered, the 
goods received are Dr. to the goods delivered. When 
money is received, cadi is Dr. to the payer. When 
goods are bought upon credit, they are Dr. to the feller. 
Rule 2. The perfon to whom any thing is delivered is Dr. 
to the thing delivered or perfon delivering .—When money is 
paid, the receiver is Dr. to cath. When goods, &c. are 
fold on credit, the purchafer is Dr. to the thing fold. 
When goods. Sec. are delivered by one perfon to another, 
on our account, the receiver is Dr. to the deliverer. 
Rule 3. Goods and real accounts are Dr. for all charges 
laid out upon them .—When money is laid out, they are Dr. 
to cath. When any thing elle is delivered, they are Dr. 
to the thing delivered. When the charge is difburfed by 
another perfon, they are Dr. to the perfon to whom it is due. 
Rule 4. Accounts of goods, houfes, flips, &c. are Cr. 
for the bounty, rent, freight, &c. which may anfe upon them. 
—When any thing is received hereupon, it is Dr. and, 
when any thing is due, the perfon who owes it is Dr. to 
the account from which it arifes. 
Rule 5. Profit and Lofs, or fome fuhf diary account, is 
Dr. for every djburj'ement connected with trade, and Stock is 
Dr. for every djburj'ement not connected with trade , for which 
■nothing is expelled in return, and which cannot be charged to 
any real or perfonal account .—When money is paid for 
houfe-keeping, rent, taxes, general or perfonal expences, 
&c. Profit and Lots is Dr. to Cadi. When rent, &c. 
is due by us, but has not been paid, Profit and Lofs is Dr. 
to the perfon to whom it is due. When a portion is given 
to a daughter on marriage, or to a Ton to commence trade, 
Stc. Stock is Dr. to the thing delivered, or perfon to 
whom we are accountable. 
Rule 6. Stock is Cr. for every thing received, or which 
falls to us, for which nothing is expeBed to be returned —When 
a legacy is left, or any thing is given to us, the thing re¬ 
ceived or perfon accountable to us is Dr. to Stock. All 
thefe are, however, reduceable to the following 
General Rule. 
The thing received, or the receiver, or the perfon or 
thing which in reafon is chargeable, is Dr. to the thing 
E E P I N G. 
delivered, or the deliverer, or the perfon or thing which 
in reaton ought to be difeharged, or to whom any thing 
is due. 
Example, in the Waste-Book. 
Sold for ready money 15 pieces of cloth, at 15I. £22 5 00 
Here we confider that money is the thing received, and 
mull be made Dr. to cloth, which is the tiling delivered ; 
we therefore enter in the Journal 
Cafi Dr. to Cloth. 
Sold 15 pieces, at 15I. £ 223 0 o 
The article thus entered, is called a journal poll; “ Cath 
Dr. to Cloth,” the entry ; and the following words, the 
narration. There being only one Dr. and one Cr. in this 
example, it is called a fimple potl ; and from it, the 
learner will be able to enter any fimple article, provided 
he knows the accounts to which it thould be potted on 
the Dr. and Cr. fides of the leger ; and this mu ft be 
ascertained from the defeription of the leger accounts, al¬ 
ready given, and from the nature of the article.—Com¬ 
plex pods are of three forts, viz. 
1 ft. Such as have more Drs. than one. 
2d. Such as have more Crs. than one. 
3d. Such as have both more Drs. and more Crs. than one. 
Example j. 
Sold John Jones 20 Pieces of linen, a 73s. ^73 o o 
3 Hhds. of wine, a 50I. 150 o o 
-225 o o 
If thefe two articles were entered feparately in the wafte- 
book, and entered in the journal by rule 2, they would 
Hand thus: 
John Jones Dr. to Linen. 
Sold him 20 pieces, a 75s./ jj o a 
John Jones Dr. to Wine. 
Sold him 3 hhds. a 50I. - - - - - - /13000 
And confequently, when ported to his account in the 
leger, there would be two articles to his Dr. one to the 
Cr. of Linen, and one to the Cr. of Wine. But they arc 
more properly entered thus : 
John Jones Dr. to Sundries. 
To Linen, for 20 pieces a 73s. - £ 73 00 
To Wine, for 3 hhds. a 30I. - - J30 o o 
--225 o 0 
And then there is only one article to the Dr. of John Jones 
in the leger. 
Example 2 . 
Sold 10 pieces of linen to John Jones'! « I0 0 
a 73s. - - - - -J 3 ' 
10 ditto to John Manners a 76s. -3800 
■—-— 75 10 o 
In the former cafe there was one Dr. and two Crs. in 
this there are two Drs. and one Cr. and the entry in the 
journal is made thus, by rule 2. 
Sundries Dr. to Linen. 
John Jones, for 10 pieces a 73s. - £ 37 10 o 
John Manners, for 10 ditto a 76s. 38 o 0 
———- 75 10 o 
Example 3. 
Bartered with John Jones 100 gals. J 
of Rum a js, - - -j 0 
And 5 cvvt. Sugar a 110s. - - 27 10 o 
-— g2 10 0 
For 100 gals. Geneva, a 7s. 6d. - 37 10 o 
And 731b. Thread, a 4s. - - - 13 o 0 
. — 32 10 o 
Here there are both two Drs. and two Crs. which fall un¬ 
derrule x. 
Sundries 
