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BOOKKEEPING   27

 

24. Received cash for note of Nov. 11, $50. 28. Petty Cash Sales, $675.

30. Paid for rent and salaries, $50.

Inventory taken Nov. 30.

Mdse. on hand    $1220. Expense, Office Furniture. . .$33.

Results :—Net Gain, $143 ; Net Capital, $2843.

 

Exercise No. 25.

  1. Journalize, post to the ledger, find the gain in Merchandise Account, enter it in G. Grand's Capital Account, close both accounts and bring the balances down. Leave all other accounts unclosed.

  2. Make out the receipts for Jan. 15 and 16 ; and the promissory notes for Jan. 6, 10, 11, 18, 23, 24, and 25.

Peterboro', January 2, 19—. G. Grand commences business, investing (giving on account) Cash $2000 ; Mdse. $1500.

  1. Engaged Pupil as bookkeeper at $20 per month.

  2. Sold S. Dame on account, Mdse. $300.

  3. Sold S. Dame for cash, Mdse. $200.

  4. Sold S. Dame on his note at 4 days, Mdse. $100.50.

  5. Bought from P. Kerr on account, Mdse. $300.

  6. Bought from P. Kerr for cash, Mdse. $400.

  7. Bought from P. Kerr on our note at 4 days, Mdse. $600.

  8. Loaned S. Dame on his note at 20 days, cash $75.

  9. Loaned S. Dame on account, cash $125.

  10. S. Dame paid his note of the 6th inst. in cash.

  11. S. Dame paid cash on account, $50.

  12. Paid P. Kerr on account, cash $250.

  13. Paid our note of the 10th inst. in cash.

  14. Borrowed from P. Kerr on our note at 1 month, cash $175.

19. Borrowed from P. Kerr on account, cash $150. Inventory taken Jan. 19.

Mdse. on hand    $2600

Exercise No. 26.

Journalize, continue the posting under that of the previous exercise, find the gain in Merchandise Account, the loss in Expense Account, enter the difference in G. Grand's Capital Account, and close these accounts and Cash Account.

Peterboro', Jan. 20, 19—. Bought from A. Weir on account, Office Desk, $90.

  1. Bought from A. Weir for cash, Stamps and Stationery, $5.

  2. Bought from A. Weir on our note at 4 days, Stove for store, $30.

  3. Received from S. Dame on account, his note at 2 months, $130.

  4. Gave to P. Kerr on account, our note at 10 days, $240.

  5. S. Dame returned the money loaned him on the 12th inst.


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