An Inductive and Practical Treatise on Bookkeeping by Single and Double Entry

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E.C. & J. Biddle, 1858 - 314 pÓgines
 

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PÓgina 205 - Thirty days after sight of this first of exchange (second and third of the same tenor and date unpaid...
PÓgina 310 - 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the currency of foreign gold or silver coins, and declaring the same a legal tender in payment for debts, are hereby repealed; but it shall be the duty of the Director of the Mint to cause assays to be made, from time to time, of such foreign coins as may be known to our commerce, to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.
PÓgina 298 - ... 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.
PÓgina 8 - Ibs. avoirdupois. Carrying trade, the transportation of goods by vessels from country to country. Charter-party, a written agreement between the owner of a vessel and the person to whom she is chartered. Circular letter, a printed notice issued by a house, relative to its business. Clearing a vessel, entering at the Custom-house all particulars relating to her when she is ready to sail, and paying clearance charges. Clearance, a certificate from a Custom-house that a vessel has been cleared. Closing...
PÓgina 8 - An obligation or deed by which a person binds himself, his heirs, executors, and administrators, to pay a certain sum on or before a certain day.
PÓgina 58 - 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.
PÓgina 295 - 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...
PÓgina 8 - Arbitration, the hearing and determination of a cause between parties in controversy, by a person or persons chosen for the purpose.
PÓgina 295 - BANK DISCOUNT. Bank discount, or interest paid beforehand, is calculated in the same manner as interest. Banks now generally include in their reckoning both the day when the note is discounted and the day on which the time specified in it expires, which, with three days of grace, makes the time for which discount is taken four days more than the time specified m the note.

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