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C. M. (Clarence Monroe) Bookman.

First steps in bookkeeping; a practical introduction to bookkeeping, containing an abundance of drill work in arithmetic, arranged to accompany Bookman's Business arithmetic or any other modern arithm online

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Online LibraryC. M. (Clarence Monroe) BookmanFirst steps in bookkeeping; a practical introduction to bookkeeping, containing an abundance of drill work in arithmetic, arranged to accompany Bookman's Business arithmetic or any other modern arithm → online text (page 1 of 4)
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1 1



First Steps



...in iHi



Bookkeeping



BOOKMAN & BLUE



PAGES

Instruction Book 1-44

Bills and Accounts 45-51

Cash Book 52-63

Purchase Book 64

vSalc- Rook ' 65-67

Joii' nal 68

Trial Balance 69-71

Profit and Loss 72-76

Ledger 77-85



FIRST STEPS

IN

BOOKKEEPING



A PRACTICAL INTRODUCTION TO BOOKKEEPING CONTAINING
AN ABUNDANCE OF DRILL WORK IN ARITHMETIC



ARRANGED

TO ACCOMPANY BOOKMAN'S BUSINESS ARITHMETIC OR ANY

OTHER MODERN ARITHMETIC IN EIGHTH

OR NINTH GRADE WORK



C. M. BOOKMAN

Business Manager, Council of Social Agencies
CINCINNATI, OHIO

FRANZ S. BLUE

Head Instructor in Accounting, High School of Commerce
COLUMBUS, OHIO



COPYRIGHT, 1917, BY

C. M. BOOKMAN

CINCINNATI, OHIO






INDEX



PAGES

28
4



Accounts

Bills and Accounts

Cash Defined 22

Cash Receipts Defined 22

Cash Payments Defined 22

Cash Balance Defined 22

Cash Book Defined 22

Cash Book Illustrated -. 22-23

Cash Book Problems 24-25

Double-Entry Bookkeeping 40

Inventory Defined 35

Journal Defined 41

Journal Illustrated 42

Journalizing Defined 40

Journalizing Rules 40

Ledger Defined 26

Ledger Illustrated 26-27

Ledger Closing 42

Ledger Ruling Illustrated 42-43

Liability Defined 35

Net Worth Defined 35

Percentages Illustrated 30

Posting Defined 26

Posting Process Descril)ed 26

Profit and Loss Statement 30

Purchase Book Defined 35-36

Purchase Book Illustrated 36

Resource Defined 35

Sales Book Defined .' 35-36

Sales Book Illustrated 36

Trial Balance 29



TO THE PUPIL



This course was not prepared for the purpose of making of you a finished
Bookkeeper. It is intended, primarily, to give you as much bookkeeping as
a general education should provide, and at the same time offer excellent drill
in the practical applications of Arithmetic.

You should assist your mother in keeping accurate accounts of household
expenditures, and your father in recording the transactions in his business,
no matter what its size. No business is too small to risk keeping its accounts
in any but the correct way. Many failures in business, many worries in the
home could be avoided if each business and each family understood the prin-
ciples of bookkeeping, and arranged in advance a budget of expenditures.
One dollar earned and ninety-nine cents spent means a saving of one cent and
happiness ; ninety-nine cents earned and one dollar spent means a deficit
of one cent and misery. Begin at once to live within your income, whatever
it may be. As your income increases, your budget of expenditures can safely
increase with it. Above all things, make certain that when you balance your
personal accounts at any given period. Profit, and not Loss, will show in your
Ledger. T-H-R-I-F-T is one way of spelling Happiness.

Ask your teacher to help you prepare a budget of expenditures for a

family the size of yours with the income your family has. A budget set of

books for a family with an income of $780.00 a year has been prepared on
page 44 of this book.

As you start your bookkeeping work, bear in mind three things :

1. Make no entry until you understand where it should be made.

2. Be sure your calculations are right before you enter the results ; the
hnal draft of your work should be in ink. and must not show erasures.

3. Don't leave a word, a sentence or a paragraph until you are sure you
understand all it means.

' A mistake of 1 cent indicates a poor bookkeeper just the same as a mis-
take of a thousand dollars would. You must be accurate.



3G0396



BILLS AND ACCOUNTS.

A statement of the quantity purchased and the price per unit is always
made out with every purchase. Mistakes are usually located in this way. At
the same time a copy of this statement is retained by the salesman from which
to make the entry in the permanent account books. If the sale is a cash one
the transaction is closed ; if the goods are bought on credit, on the first of the
month an additional statement is sent to the purchaser.

The pages of problems which follow contain, primarily, drill work on the
making of Bills and Statements, the extension of each item, and, finally, the
grand total. One problem in each lesson must be set up in ink on the special
bill forms provided in this book. The name of the company doing the selling
is the Capitol City Retail Co., located at 3 West 7th St., Columbus. Ohio.
If a purchaser is not named in the problem, the student is to be considered the
purchaser.

In addition to the drill work on Bills and Statements, from time to time
problems affording review work on different subjects in Business Arithmetic
are provided.

Note 1. Make your extensions mentally whenever possible.

2. Fractions of a cent when less than a half cent are ignored ;
when greater than a half cent they are counted as one cent. In first item of
Problem 1, 6 times 9.2c is 55.2c; the .2c is dropped. In item three. 3 times
7.5c is 22.5c ; the amount carried forward is 23c.



EXERCISES.
1.



August 10, 1916.



Tlie Capitol City Retail Co.,

3 West Seventh St.,

Columbus. Ohio.



Sold to

FR.\NK jr)NES

12 West Ninth Street



July 19



July 21



6 lbs. cut loaf sugar 9.2c 55

7 lbs. powdered sugar 8c 56

3 lbs. rice 7.5c 11

5 lbs. prime lard 14c 70

XYi lbs. ham 22c II

lib. Creamery butter 3,V- II



The Capitol City Retail Co.,

3 West Seventh St.,

Columbus, Ohio.



Sold to

FRA\K JONES

11 West Ninth Street



August 11, 1916.



I XYt. lbs. New York cheese 18c

2 lbs. Creamery spec, oleomargarine. ... 18j/4c
2^. doz. Prime firsts eggs 24c

1 lb. Java coffee 27c

1/ lb. Breakfast bacon 23c

XYz lb. dried beef 30^c

2 bu. peaches $3.50



3.



The Capitol City Retail Co.,

3 West Seventh St.,

Columbus, Ohio.



August 12, 1916.



Sold to

FRANK JONES

11 West Ninth Street



2 cantaloupes 1 for 25:

V2 bu. tomatoes $1-50 per bu.

3 lbs. granulated sugar 7;^c

1 box laundry soap $2.50

3 boxes matches 5c



Make out and extend bills for the following purchases:



Mrs. James Bryan, 16 Locust street, telephoned the following order to
the Capitol City Retail Company: . 1-

Three cans of beans, 15c per can; 2 bunches of celery, 2 bunches for loc;
1 head cabbage, 7c; Yz peck potatoes, $1.75 per bu. ; 3 lemons, 2 for 5c; 2 lb.
rib roast, 27c per lb. ; 1 dozen bananas, 18c ; 1 loaf bread, 10c.

5.

Mrs. Bryan purchased from the Capitol City Retail Coiupany the fol-
lowing : (to nn
1 pair children's shoes $2.00
5^ yds cotton goods, 7^c per yd
3 children's dresses at 75c each
3 pairs stockings, 50c each
1 umbrella l-^^
3>4 yds silk goods at $1.75 per yd



A. J. Walters ordered the following bill of goods from the Capitol City-
Retail Company :

1 lawn mower. $7.00; 45 ft. rubber hose at 15c per foot; 1 garden rake,
$1.00; a brace and 7 auger bits; the brace was quoted at $1.25 and the bits at
25c each.



7.



August 15, 1916.



Jones & Barnes Co.,
Birmingham, Ala.



Bought of

The Capitol City Retail Co.

3 W. Seventh St.. Columbus, O.

Yz gr. Kum Bak games at $48 per gross'
2 doz. Marathon Racers at $12 a dozen
3/2 doz. 3 Way Cars at $18 per dozen
3/2 gro. Hi-Lo Games at $24 per gross

8.

The Capitol City Retail Co. sold the following bill of hardware :
17 gross No. 8 screws at 87c per gross

1 2-3 doz. locks at $12.60 per dozen

y^ dozen 2^-inch bolts at $1.25 per dozen

2 1-12 doz. bolts at $3.60 per d6zen

9.

503 yds muslin at ll^k; 162 yds cotton goods at 634c; 7S yds madras at
19c; 57 yds denim, at 16c; 37 yds silk at $1.02.

10.

72 lbs. of butter at 323;4al5^c, e.xtra short clear 14'4al5J-ic,
short ribs H^aH-Hc, bellies 16}^al7c.

SMOKED MEATS— Per lb.: Short clear
16al6J^c, extra short clear 15 5/ial6c, short
ribs 15^al6c, bellies 1734al8%c.

SUGAR CURED MEATS— Per lb.: Hams
2OV2C, picnic 15alS^c, breakfast bacon 29;4
a30V2C, shoulders in packages IJalS^jc, New
•York cut 15/ial6c, dried beef hams 29!/.a30c.

SWEET PICKLED MEATS— Per lb.:
Hams in tcs. 16'/2al7c, picnic 12;^al3c, bel-
lies 16;'ial7^c, shoulders 13J/jal4c, New York
cut do 14al4^ic.

GREEN MEATS— Loose, per lb.: Hams
16^al7J4c, picnic 12J^al3c, shoulders MVi
al3c, short rib sides 13al3K'C, extra short
clear sides UaU.'iC, bellies light \%y^:\\'iV^c,
heavy ]7al8c.

GROCERIES.

Coffee : Rio. Santos.

Prime 14f^ 17f4

Good WVi 16li

Eair 14 -4 15?^

Low fair \i% 15^

Good ordinary 13)i 141ii



Ordinary MVi 1414

Low ordinary 127^ 13^

I'ancy Guatemala 19^^

Good Guatemala 17^

Mocha 29 30

Java 28 30

SUGAR— Per 100 lbs: Cut loaf $8.85, pow-
dered $7.S5, cubes $8.05, granulated $7.65, con-
fectioners' A $7.75, off A $7.15a7.35, white ex-
tra C $6.95a7.05, extra C $6.85. New Orleans
white clarified $6.85a6.95, do yellow $6.20a6.60.

TEAS— Oolong 35a75c, Souchong 40a85c,
English breakfast 40ca$1.10, Japan 50a80c,
gunpowder 40a85c.

RICE— Per lb. : Broken heads 4a4-)4c, extra
fancy 65/ja7c, fancy 5J4a5)4C, second head
4Via5c, Japan 4)4a5^4C, T31ue Rose 5!4a5}ic.

HEANS — Navy per bu. $9.40a9.50, prime
marrowfat per bu $9.50a9.75, kidney red per
bu $9a9.25, lima $7a7.25 per 100 lbs.

MOLASSES — Choice to fancy open kettle
pci- gal 58a65c, prime to strict open kettle 45
aSOc, fair to prime 36a42c, choice to fancy
centrifugals 27a34c, prime to strict centrifu-
g.ils 25a27c, common centrifugals 23a-5c.

inCESWAX— Dealers pay 27c per lb.

S.M


1 3 4

Online LibraryC. M. (Clarence Monroe) BookmanFirst steps in bookkeeping; a practical introduction to bookkeeping, containing an abundance of drill work in arithmetic, arranged to accompany Bookman's Business arithmetic or any other modern arithm → online text (page 1 of 4)