The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-11-13
NIGHT SCHOOL COURSE.
x.-How TO no DOUBLE ENTRY.

iNs0tti JNtt\<Jk NOONSC.
x.-HOw TO no DOUBLE ENTRY.
This is not a course in double-entry
bookkeeping. but simply a lesson There
are hundreds of people who have to do
with accounts who have very vagre mo-
tons as to what is meant b. double en-
try, and there are hundreds OF others
who can make correct double entrees
for ordinary straight transactions. but
who fail to comprehend the entries when
the transaction Is mixed or unusual This
lesson and one or two more difficult les
sons which VIII follow are intended spe-
cially for these classes of office workers.
II Is much more important to learn the
principles which govern correct systems
OF bookkeeping than IL is to learn any
particular form as applied to special
business. 1t Is safe to say that no two
houses keep their books In the same way,
and the larger the houses the more widely
do their forms OF bookkeeping differ.
Each concern adapts the books 10 Its own
special needs. but the theory Of accounts,
the underlying principles of double entry.
are the same the world over. The begin
ner In the accounting department OF
large concern who knows the principles
thoroughly. but who has had no practical
experience, is ten times more fortunate
than Is the beginner who has learned how
to keep the books Of a particular concern
but who beyond that knows little II any
thing OF the principles Of double entry.
The ledger il q book in which accounts
are kept Each account has two sides-a
charge side and 4 credit side. When a
man buys something and doesn't pay for
It at once we charge him--that is. we
make an entry OF the amount on the
charge side of hts account. When he pays
the whole or part Of his bill we credit him
that is. we make an entry OF the amount
on the credit side OF his account. The
charges are called debts, so that an ac-
count consists OF a list of debts on the
one side and list OF credits on the other
side. The debts are entered on the left
hand side and the credits on the right
hand side
ledger may consist of several books-that
In one book and the credit entry in an
in the fact that every ~ a charge or debit
has corresponding credit and the debts
and credits always balance.
WE shah begin with a to ssrIes Of very
by step until we reach transactions pre-
senting variety Of complications.
transactions.
l. Homer Carter invests ss5s.5o in BUSH
Note-credit Carriers account with the
investment and charge or debit the cash
that Is, is held responsible for the money
on hand.
2 Bought for cash goods costing SAL Is.
Note-Credit the cash account with the
count with the cost value OF the goods
received.
d sold goods for cash, sise.sa
Note-cAsh T. received and the cash
account Is debited tchargeD: goods are
disposed OF and the goods account Is cred
Paid once expenses In cash. 1855.
Note--Credit the cash account with the
cash paid out and charge the same amount
to expense--that Is. enter II upon the debit
side q me expense aocouys .
8. Bought goods valued at 3I3.5 on
Note--Debit tcharEe) the goods account
for the value Of the goods received and
credit James Kins-that Il. give him credit
for what he gave us that we have not
!. Sold goods silled at sssa~ on credit
Note-Crcdit the goods account and debit
(charge) Harding. We charge him with
what we gave him that he did not pay for.
Z. Received from Samuel Harding cash
Note--Deblt the cash account and give
Harding credit.
Bought goods valued at s2ss rs from
James King; gave him cash s1's; balance
Note-Debit the goods account with
Szss.75 and credit King with the same
si75 and charge King with SIS. This
makes complete record OF tho TRANSACT
lions. II Ia really two transactions--;irst
goods bought on credit. cash paid on ac-
:. Sold goods valued at s2ss.6o 20 Samuel
Harding; received In payment cash sleo:
balance on account.
s1a5.6o and charge Harding with the same
amount. then debit the cash account with
500 and credit Harding We charge Hard
credit for what he paid.
10. Bought for cash goods costing
Note-credit the cash account with ths
money paid out and charge the goods ac-
count with the cost value OF the goods
received.
Note-credit your cash account and
charge the amount 10 your expense ae-
ii Bought goods valued at ssS42 on
credit from James Smith.
Note-Dcbit tchargcD the goods account
for the value Of the goods received and
credit James smith--thai " give him
we have not yet paid for.
IN sold goods 6iiled at teslSo on credit
10 Samuel Packard.
II (charge) Packard. We charge him with
what we gave him that ne cid NOT pay
for.
I'd Withdrew FOR private usa cash SO. "a
Sste-The cash account IL credited for
the amount withdrawn ff the item rep
resented II an expense 81 IN. business.
such as salary. II would be charged to
expense hut II. as in this Instance. II Is
money drawn out by Carter for his own
private use the amount should be charged
10 his account We therefore credit cash
ard debit Carter. Carter really reduces
his capital this amount
81 Received from Samuel Packard fS87-S5
cash on account
Nots-T-ne cash account Is charged with
the amount and Packard's account ~
* PAID James Smith cash si@ on ac-
count.
Notr-we owe James smith s5ss.f. This
auoint already appears on the credit side
~ his arcount--fhat is 10 say, he IN eue
Of fsarterss creditors. Carter charges him
now with the si@5 which be pays. Credit
cash.
ii Bought goods valued AZ 49, V from
Ralph Brown. gave hifn cash W. valance
on srcnunt.
N0te-D Debit tire goods aeeount and cred
II Hrawrn'x account with ths f5il amount.
.nf. rarurfNte4 the trek bart of the tran