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BOOKKEEPING

AND

BUSINESS PRACTICE.

COMPLETE COURSE

RATIONAL METHOD

OF PRESENTING THE

SCIENCE OF ACCOUNTS

AND OF ILLUSTRATING THE

CUSTOMS OF BUSINESS.

FOR USE IN

BUSINESS COLLEGES.

NEW YORK .:. CINCINNATI .:. CHICAGO
AMERICAN BOOK COMPANY

KG 1583

HARVARD
UNIVERSITY
LIBRARY

Entered according to Act of Congress, in the year 1895.

By WILLIAMS & ROGERS,

In the office of the Librarian of Congress, at Washington, D. C.

W. P. I

PREFACE.

HIS book is a leading feature of Williams & Rogers' Bookkeeping and Business Practice Course.

THIS

a that of

The introductory portion of the work is new, and it is believed that the plan of initiating the pupil which it presents will be found the simplest, most teachable, and on all accounts the most satisfactory that has appeared.

While the book is complete in itself, and affords a course of study in the science and practice of bookkeeping of exceptional scope and value, business practice exercises have been provided to accompany it which add to the interest of the pupil and contribute to his practical familiarity with the forms and uses of business documents, the origin of bookkeeping records and the routine of ordinary office work.

The points of superiority claimed for this work are as follows: The pupil is thoroughly grounded in the elements of bookkeeping before he is expected to do business-is taught how to do before being required to do, the practice being intended to enforce his knowledge and to impart facility in performing the work; the pupil is held to strict accountability as to results until he has acquired sufficient knowledge and facility to practically insure his ability to apply fundamental principles correctly and intelligently; the teacher's labor is reduced to a minimum, and he has at all times the supreme satisfaction of knowing that the pupil is doing useful work in an intelligent manner. The inducement to do the best work of which he is capable is always before the pupil; accuracy in results and creditable work are insisted upon; the business practice, while it is progressive, systematic, and rigidly business like throughout, is fascinating to the pupil; and, lastly, the practical sets given in this work, added to those embodied in the Business Practice Exercises, constitute a most orderly, practical and comprehensive course of study in this important subject.

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BOOKKEEPING AND BUSINESS PRACTICE.

To the Student.-The following exercises will afford you practical knowledge of the principles of bookkeeping, and will illustrate the forms of the principal books usually employed and the manner of recording business transactions.

Books Required.-The books required are a Journal and a Ledger. The functions of these books will become apparent as the work is performed.

The Journal is used to separate the debits and credits of the transactions. The process of writing the debits and credits in the Journal is called journalizing. Sufficient explanation should be placed in connection with the debits and credits in the Journal so that all of the circumstances connected with the transactions which give rise to the debits and credits may afterward be readily recalled. The Ledger is a book in which the debits and credits contained in the other books are grouped under appropriate heads. Such grouping is called posting, and the groups are called accounts.

HOW TO JOURNALIZE.

The student will make the entries required by the following transactions on a sheet of Journal paper as directed, omitting one line between the entries as in the Model Journal on page 23. It will be observed that the illustrations are not of the transactions to be journalized, but of similar transactions, involving the application of the same principles and requiring essentially the same record.

cash.

FIRST TRANSACTION.—I (your name), engage in the flour and feed business this day, investing $3000

Property should be debited under an appropriate title when it comes into the business. Cash should therefore be debited $3000. The proprietor should be credited for all investments in the business. You should therefore be credited $3000.

The Journal is ruled and the entries are arranged as follows, with your name substituted for J. B. Winslow, 3000 for 2500, and the explanation changed to correspond:

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The debit Ledger title is placed near the vertical lines at the left (see Cash), and the credit Ledger title on the next line below and a little to the right, preceded by the word "To." (See "To J. B. Winslow"). The debit amount is placed in the inner column at the right of the page, which is always the debit column, and the credit amount in the outer column, which is always the credit column.

NOTE.-Many bookkeepers are now omitting the word "To" before the credit in the Journal, depending on the location of the Ledger titles and amounts to distinguish the debits from the credits.

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