Instructions for Part II.—Double Entry.
(a) Books to be used—Business Papers, Journal, Order Book or Counter Check Book, Purchase Journal, Cash Journal, Bank Cheque Book, Bill Book, and Ledger.
(b) Business Papers :
Inward.—Receipts on Dec. 18 (from W. Baxter), Dec. 31 (for Rent ; Bank Draft on Dec. 27 ; Draft on Dec. 80.
Outward.—Draft on Dec. 24 ; Cheques on Dec. 16, 17, 20, 80, 81 ; Bank Draft on Dec. 17 ; Invoices f r C. Kennedy on Dec. 18 and 27, and for F. Pratt on Dec. 19 and 24 ; Credit Invoice on Dec. 26 ; Statements of Account for M. Morrow and Mrs. S. Prang ; Monthly Statements for F. Pratt and C. Kennedy.
(c) Make out business papers ; make entries in Journal, Order Book, Purchase Journal, Cash Journal, Bank Cheque Book, and Bill Book ; post to Ledger from Journal, Order Book, Purchase Journal, and Cash Journal ; take a Trial Balance ; take stock ; make Financial Statements ; close the Ledger.
Keep the Cash Journal with special columns, as in Section 120.
Keep the Order Book like the Sales Journal in Section 108. Put partial payments, such as C. Pratt's on Dec. 19, through the Cash Journal. J. Lamont's entry on Dec. 18 will be treated like M. Wilson's entry in the example in Section 131.
Transactions—Set XI.—Part II.
Peterboro, December 16, 19—. A. Grierson admits Pupil as a partner under the firm name of Grierson & Pupil. They decide to continue the business as a Wholesale and Retail Grocery and Provision Business.
Mr. Grierson is to increase his Net Capital to $5000 ; he is to receive * of the profits and may withdraw for private use not more than $60 per month. Pupil is to invest $1000 cash ; he is to receive * of the profits and may withdraw not more than $40 per month.
The books are to be changed to Double Entry.
Miss D. Markham's salary is to be increased to $35 per month.