I. That commission and guaranty should be accredited to the agent at the average maturity of the sales. II. That the net proceeds should be accredited to the consignor at the average maturity of the entire account. Hence the following RULE. I. To compute the storage. Multiply each article or parcel by the time it is in store, and multiply the sum of the products by the rate per unit; the result will be the storage. II. To find when the net proceeds are due.-Average the sales alone, and the result will be the date to be given to the commission and guaranty; then make the sales the Cr. side, and the charges the Dr. side, and average the entire account by a compound equation. In averaging, either the product method or the interest method may NOTE. be used. EXAMPLES FOR PRACTICE. 1. Account sales of 100 pipes of gin, received per ship Hispaniola, from Havana, on alc. of Tyler, Jones & Co. What are the net proceeds of the above account, and when due? Ans. Net proceeds, $9489.48; due, May 20, 1860. NOTE. The time for which storage is charged on each part of the shipment is the interval, reduced to weeks. between Apr. 1, when the pipes were received into store, and the date of sale. Every fraction of a week is reckoned a full week. 2. A commission merchant in Boston received into his store on May 1, 1859, 1000 bbl. of flour, paying as charges on the same day, freight $175.48, cartage $56.25, and cooperage $8.37. He sold out the shipment as follows: June 3, 200 bbl. @ $6.25; June 30, 350 bbl. @ $6.50; July 29, 400 bbl. @ $6.12; Aug. 6, 50 bbl. @ $6.00. Required the net proceeds, and the date when they shall be accredited to the owner, allowing commission at 3%, and storage at 2 cents per week per bbl. Ans. Net proceeds, $5614.28; due, July 10. SETTLEMENT OF ACCOUNTS CURRENT. 626. To find the cash balance of an account current, at any given date. J. Burns in account current with Tyler & Co. Required the cash value of the above account, July 1, 1860, interest at 6 %. ANALYSIS. For either side of the account we write the dates at which the several items are due, and the days intervening between these dates and the day of settlement, July 1. We then compute the interest on each item for the corresponding interval of time, and add it to the item if the maturity is before July 1, and subtract it from the item if the maturity is after July 1; the results must be the cash values of the several items on July 1. Adding the two columns of cash values, and subtracting the less sum from the greater, we have $375.05. the cash balance required. Hence the RULE. I. Find the number of days intervening between maturity and the day of settlement. II. Compute the interest on each item for the correspo interval of time; add the interest to the item if the matu before the day of settlement, and subtract it from the item maturity is after the day of settlement; the results will be th values of the several items. III. Add each column of cash values, and the difference amounts will be the cash balance required. EXAMPLES FOR PRACTICE. 1. Find the cash balance of the following account for J 1858, interest at 6 per cent.? 2. What is the cash balance of the following account o 627. Partnership is a relation established between more persons in trade, by which they agree to share the and losses of business according to the amount of capital fu by each, and the time it is employed. 628. The Partners are the individuals thus associated NOTE. The terms Capital or Stock, Dividend, and Assessment, have ionitiontion i. D. CASE I 629. To find each partner's share of the profit or loss, when their capital is employed for equal periods of time. 1. A and B engage in trade; A furnishes $500, and B $700 as capital; they gain $96; what is each man's share? fit or loss will have the same ratio to the whole profit or loss as his part of the capital has to the whole capital, A will have of the $96, and B of the $96, for their respective shares of the profits. We may also regard the whole capital as the first cause, and each man's share of the capital as the second cause, the whole profit or loss as the first effect, and each man's share of the profit or loss as the second effect, and solve by proportion thus: RULE Multiply the whole profit or loss by the ratio of the whole capital to each man's share of the capital. Or, The whole capital is to each man's share of the capital as the whole profit or loss is to each man's share of the profit or loss. EXAMPLES FOR PRACTICE. · 1. Three men engage in trade; A puts in $6470, B $3780, and C $9860, and they gain $7890. What is each partner's share of the profit? Ans. A's, $2538.453; B's, $1483:053; C's, $3868.493. 2. B and C buy pork to the amount of $1847.50, of which B pays $739, and C the remainder. They gain $375; what is each one's share of the gain? 3. A, B, and C form a company for the manufacture of w cloths. A puts in $10000, B $12800, and C $3200. C is all $1500 a year for personal attention to the business; thei penses for labor, clerk hire, and other incidentals for 1 yea $3400, and their receipts during the same time are $9400. is A's, B's, and C's income respectively from the business? 4. Four persons rent a farm of 115 A. 32 P. at $3.75 an A puts on 144, B 160, C 192, and D 324 sheep; how much ought each to pay? 75,86 84,29 101.15 170.69 5. Three persons gain $2640, of which B is to have $6 as as C $4, and as often as D $2; how much is each one's sha 6. Six persons are to share among them $6300; A is to of it, B, C, D is to have as much as A and C togethe the remainder is to be divided between E and F in the ra 3 to 5. How much does each receive? Ans. A, $900; B, $1260; C, $14 7. Two persons find a watch worth $90, and agree to divi value of it in the ratio of to; how much is each one's s NOTE. If the fractions be reduced to a common denominator, they will be other as their numerators, (418, III). 8. A father divides his estate worth $5463.80 between h sons, giving the elder more than the younger; how much son's share? Ans. Elder, $2892.60; younger, $25 9. Three men trade in company. A furnishes $8000, $12000. Their gain is $1680, of which C's share is $840; re C's stock, and A's and B's gain. Ans. C's stock, $200 10. Four persons engage in the lumber trade, and invest $22500; at the expiration of a certain time, A's share gain is $2000, B's $2800.75, C's $1685.25, and D's $1014 much capital did each put in? Ans. D put in $3 11. A legacy of $30000 was left to four heirs in the tion of,,, and, respectively; how much was the s each? 37/9-/1 8724121991773 743 12. Three men purchase a piece of land for $1200, of |