Page:Encyclopædia Britannica, first edition - Volume I, A-B.pdf/711

 B O O K » K S E P I N G. 591 2. Voyage in Company, N° 66. Contains, upon the Dr fide, the value and charges of p Pv O B. III. the goods fent to fea. The Cr fide contains the receipt or difpofal of them by the fadtor. The difference of the What the Balances in Company-accompts are. fides is gain or lofs. Here there are three cafes. Jl, If Dr and Cr fides be equal, then the accompt ciofes $ 1. What the Balances in the Accompts kept by the of itfelf. 2dly, If one of the fides exceed the other, a Partner are. then the accompt is clofed, by being made Dr or Cr toor by Sundries; viz. to, or by each partner’s Accompt X. A. B. my Accompt in Company, N° 54. for their {hares of the gain or lofs; Contains, upon the Dr fide, the partner’s inputs, in Company, to, or by Profit and Lofs, for the truftee’s fhare. and (hare of charges; upon the Cr fide, the returns made; and idly. If nothing be yet writ upon the Cr fide, then the and the difference is the gain or Ibfs. In balancing this accompt is clofed, by being credited by Sundries, viz. accompt, there are two cafes. 17?, If the accompt be partner’s Accompt in Company, for their fhares of fmifhed, /. e. if the goods be fold, and returns made, it bytheeach is clofed, by being made Dr or Cr to or by Profit and goods at fea; and by Balance, for the truftee’s fhare. 3. Faflor our Accompt of Goods. Lofs. 2dly, If the accompt be yet un.finifhed, the bcfl way is, to clofe it with a double' balance: that is, to Contains, upon the Dr fide, the company’s goods conmake it Dr to Balance, for the fum of the Cr fide, and figned to, and received by the faffor. The Cr!ide congive it credit by Balance, for the fum of the Dr fide. tains the difpofal of them. The difference of the fides is gain or lofs made upon the file of them. This ac2. A.B. my Accompt-proper, N° 5 y. has the fame varieties, and is balanced the fame. This accompt is merely perfonal, and clofed with Ba- compt in company. lance, for the difference of its fides; which is the debt way with Goods 4. FaGor our Accompt-current. due to, or by the'company. Contains, upon the Dr fide, what money belonging to company is in the fadtor’s hand. The Crfide con§ 2. What the Balances of the Accompts kept by the tains the returns he has made in goods or bills. The a Trufiee in his own Books are. difference is the debt due to or by the fadtor. This acBefore the truftee clofe the Company’s accompts, he compt is clofed, by being made Dr or Cr to or by Baought to make the double Journal entry following, if it lance, for the faid difference. be not done already; namely, Jl, Goods in Company, 5. Partner his Accompt in Company, N° 59. 69. 70. or Voyage, &c. Dr to: Sundries, viz. to Cafh, for all upon the Cr fide, the partner’s inputs, with’charges not yet ftated to accompt, fuch as cellar-rent, &c. hisContains, fhare of charges,, and of gain at clofe. The Dr fide and to Profit and Lofs, for his own commiffion, at fo contains returns difpofed of,, or goods remainmuch per cent, 2Ay, Each partner’s Accompt-proper ing unfold, withfortheinputs fhare of Ioffes, if any.. Dr to his ACcompt in Company, for their refpeClive This accompt, after thepartner’s preceding accompts are balanced, fhares of the above charges and commifiion. Thefe en- will always clofe of itfelf; as isby confidering tries being made, the balances of the accompts are as what goes to the two fides of it: evident fo that if the balance follows. of this accompt fail, the accomptant may conclude, for certain, that fomething in the company’s accompts is 1. Goods in Company, N® 58. 62. 71. 74. Contains, upon the Dr fide, the prime coll of the wrong, or at leaft fome miftake has happened in clofing goods flocked in* with all charges, and the truftee’s com- them. miffion. The Cr fide contains the difpofal of them.bis Account-proper, N° 60. 67. 68. The difference of the fides is gain or lofs, to J>e divided ’ Is6.a Partner perfonal account, the difference of whole fides is amongft the partners. Here there are three cafes. debt due to or by the partner, and is clofed withthe goods be all fold, the accompt is clofed, by being the debited or credited to or by Sundries, viz. to, or by Bala nee. If the defign of balancing the company-accompts each partner’s Accompt in company, for their fhares of be,Note. in order to know the ftate of the company’s afthe gain or lofs; and to, or by Profit and Lofs, for the fairs,notbut-only that the old Ledger may be finifhed, and truftee’s own fhare. 2dly, If none of the goods are fold, the accompts carried to new books : the accomptant, in then the accompt is clofed, by being credited by Sun- this cafe, may either balance as above-direffed; or dries; viz. by each partner’s Accompt ia Company, for he may, if he pleafes, clofe allthemof them a double batheir fhares of the goods unfold; and by Balance, for the : lance,; which is the eafieft and fhorteftbyway, and will truftee’s fhare. idly, If part of the goods are fold, and. have the fame effeff in the iffue. . part of them yet remain not difpofed of, this cafe is a compound of the two former; and accordingly the ac- §; 3. What the Balances of the Accompts kept by as compt is clofed, by making the entry mentioned in the. Prujlee in feparate Books are. fir ft cafe, for the gain or lofs on thofe fold; and then,. by making the ntry mentioned in the. fecond cafe, for 1. Goods in Company, and Voyage in Company,. thofe not difppfed of. Have, the fame things upon their Dr and Cr fides, as when.