RULE. Multiply the price by the quantity reduced to hundreds and decimals of a hundred, or to thousands and decimals of a thousand. NOTE. In business transactions the Roman numerals C and M are commonly used to indicate hundreds and thousands, where the price is by the 100 or 1000. PROBLEM V. 257. To find the cost of articles sold by the ton of 2000 pounds. ANALYSIS. If the price of 1 ton or 2000 pounds be divided by 2, the quotient will be the price of ton or 1000 pounds. We then have the quantity and the price of 1000 to find the cost. Hence, RULE. Divide the price of 1 ton by 2, and multiply the quotient by the number of pounds expressed as thousandths. EXAMPLES IN THE PRECEDING PROBLEMS. 1. What cost 187 barrels of salt, at $1.32 a barrel? Ans. $246.84. 2. What cost 5 firkins of butter, each containing 70 pounds, Ans. $66.093. at $3 a pound? 3. If the board of a family be $501.87 for 1 year, how much is it per day? Ans. $1.371. 4. At $.10 a dozen, how many dozen of eggs can be bought for $18.48? Ans. 176. 5. What is the value of 140 sacks of guano, cach sack containing 162 pounds, at $173 a ton? Ans. $201.9061. 6. What will be the cost oi 3240 peach trees at $161⁄2 per hundred? Ans. $534.60. 7. At $66.44 a ton, what will be the cost of 8423 tons of railroad iron? Ans. $55992.31. 8. A gentleman purchased a farm of 325.5 acres for $106601; Ans. $32.75. how much did it cost per acre? 9. What will be the cost of 840 feet of plank at $1.94 per C; Ans. $32.071. and 1262 pickets at $12 per M? 10. At $1 a bushel, how many bushels of wheat can be bought for $37.683? Ans. 25 bushels. 11. What will be the cost of 2172 pounds of plaster, at $3.875 a ton? Ans. $4.2081. 12. What cost of 456 bushels of potatoes at $.371⁄2 a bushel? 13. If 32 barrels of apples cost $81.25, what is the price per barrel? Ans. $2.50. 14. What must be paid for 24240 feet of timber worth $9.37 per M.? Ans. $227. 15. At $5§ an acre, how many acres of land can be bought for $4234.37? Ans. 7527. 16. How much must be paid for 972 feet of boards at $20.25 per M, 1575 feet of scantling at $2.87 per C, and 8756 feet of lath at $7 per M? Ans. $130.6341. 17. What is the value of 1046 pounds of beef at $4§ per hundred pounds? Ans. $48.37. 18. What is the value of 5840 pounds of anthracite coal at $4.7 a ton, and 4376 pounds of shamokin coal at $5.25 a ton? 19. At $2.50 a yard, how much cloth can be purchased for $2 ? 20. What is the value of 3700 cedar rails at $5 per C? 21. How much is the freight on 3840 pounds from New York to Baltimore, at $.96 per 100 pounds? Ans. $36.864. 22. What is the value of 9 pieces of broadcloth, each piece containing 27 yards, worth $23 a yard? Ans. $715.87). 23. At $.42 a pound, how many pounds of wool may be bought for $80.745? Ans. 1921. 24. What will be the cost of 327 feet of boards at $15 per M; 672 feet of siding at $1.62 per C, and 1108 bricks at $44 per M? Ans. $20.693. 25 At $ per yard, how many yards of silk may be bought for $153 ? Ans. 18. 26. How much must be paid for the transportation of 18962 pounds of pork from Cincinnati to New York, at $10 a ton? 27. If 15 yards of silk cost $27.9, what is the price per yard? 28. What cost 27860 railroad ties at $125.38 per thousand? 29. If .7 of a ton of hay cost $131, what is the price of 1 ton? 30. What is the value of 720 pounds of hay at $12.75 a ton, and 912 pounds of mill feed at $15 a ton? Ans. $11.658. LEDGER ACCOUNTS. 258. A Ledger is the principal book of accounts kept by merchants and accountants. Into it are brought in summary form the accounts from the journal or day-book. The items often form long columns, and accountants in adding sometimes add more than one column at a single operation, (68). 259. A Debtor, in business transactions, is a purchaser, o d person who receives money, goods, or services from another; and 260. A Creditor is a seller, or a person who parts with money, goods, or services to another. 261. An Account is a registry of debts and credits. NOTES.-1. An account should always contain the names of both the parties to the transaction, the price or value of each item or article, and the date of the transaction. 2. Accounts may have only one side, which may be either debt or credit; or it may have two sides, debt and credit. 262. The Balance of an Account is the difference between the amount of the debit and credit sides. If the account have only one side, the balance is the amount of that side. 263. An Account Current is a full copy of an account, giving each item of both debit and credit sides to date. 264. A Bill, in business transactions, is an account of money paid, of goods sold or delivered, or of services rendered, with the price or value annexed to each item. 265. The Footing of a Bill is the total amount or cost of all the items. NOTE. A bill of goods bought or sold, or of services received or rendered at a single transaction, and containing only one date, is often called a Bill of Parcels; and an account current having only one side is sometimes called a Bill of Items. 266. In accounts and bills the following abbreviations are in general use: @for at or by; when this abbreviation is used it is always followed by the price of a unit. Thus, 3 yd. cloth @ $1.25, signifies 3 yards of cloth at $1.25 per yard; lb. tea @ $.75, signifies pound of tea at $.75 per pound. 207. When an account current or a bill is settled or paid, the fact should be entered on the same and signed by the creditor, or by the person acting for him. The . or bill is then said to be receipted. Accounts and bills may be settled, balanced and receipted by the parties to the same, or by agents, clerks or attorneys authorized to transact business for the parties. |