An Inductive and Practical Treatise on Book-keeping by Single and Double Entry: Designed for Commercial Institutes, Private Students, and Practical Accountants ... |
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Common terms and phrases
Account-Sales Adventure to Canton Am't amount Bank of Commerce Bank of Missouri Bark Phillis Bbls bill of exchange Bill-Book Bills Pay Bills Payable Bills Rec Bills Receivable Bo't Book-keeper books of original capital Cash Sales Cash-Book Cassimeres Charges Cincinnati Clerk closing columns commencing cost value credit side Day-Book debit and credit debit side Deduct Discount dollar Double Entry Drayage entered Expenses favor Faxon firm value folio Freight gains Havana inst Interest Invoice Joseph Ralston Journal July June Leger Mayland Merchandise Note original entry Orleans paid partners payment person Phenix Bank Pike Co pound sterling present worth Proceeds produced value Profit & Loss purchased Rec'd rix-dollar Sale of Mdse Sales-Book Sept Ship Massachusetts sold Steamboat Stock Sundries Thomas Harvey transactions transferred Trial Balance value in Cash Wages
Popular passages
Page 207 - Thirty days after sight of this first of exchange (second and third of the same tenor and date unpaid...
Page 301 - Multiply the amount of the smaller side by the number of days between the two average dates, and divide the product by the balance of the account. The quotient will be the time...
Page 300 - ... shall be sustained by either party. RULE. Multiply each payment by its time, and divide the sum of the several products by the whole debt, and the quotient will be the equated time for the payment of the whole.
Page 312 - That all former acts authorizing the currency of foreign gold or silver coins, and declaring the same a legal tender in payment for debts, are hereby repealed; but it shall be the duty of the Director of the Mint to cause assays to be made, from time to time, of such foreign coins as may be known to our commerce, to determine their average weight, fineness, and value, and to embrace in his annual report a statement of the results thereof.
Page 294 - Interest is the sum paid by the borrower to the lender for the use of money lent...
Page 10 - Lading, a written account of goods shipped, having the signature of the master of the vessel on which shipped. /•'•'" of Sale, a contract, under seal, for the sale of goods. Bill of Store, a Custom-house license for carrying to sea ship-stores and provisions free of duty. Blank Credit, permission granted by one house to another to draw on it at pleasure to a specified amount Bona fide, in good faith.
Page 205 - Merchandise, being marked and numbered as in the margin, and to be delivered in the like good order and...
Page 311 - MONEY. 4 farthings = 1 penny. 12 pence = 1 shilling. 20 shillings = 1 pound.
Page 60 - The origin of the science of keeping books by Double Entry has been a matter of much speculation by different writers on the subject, but nothing definite can be ascertained respecting it. McCulloch, in his Commercial Dictionary, says " it was first practised in Venice, Genoa, and other towns of Italy, where trade was conducted on an extensive scale at a much earlier date than in England, France, or other parts of Europe.
Page 297 - What is the bank discount, at 6 pr. ct., on a note for $1,200, payable sixty days hence ? =64 days, time for which discount must be reckoned. of 64== lOf x 1200= 12,80,0. $12,80. Ans. DISCOUNT ON BILLS AND INVOICES. Merchants are in the habit of deducting a certain per-centage from invoices and bills of goods sold for ready pay. This is reckoned in the same manner as interest. Ex. 1. A. purchases a bill of goods of B., amounting to $756, at a year's credit, but B. offers to deduct 10 pr. ct. for...