WRITTEN EXERCISES Find the total cost of each of the following. Perform all multi The special method for multiplying by aliquot parts of 100 leads to a similar method for multiplying by certain other numbers. $48 × 100 = $600. Thus, to find the cost of 48 articles sold at $12.50 apiece notice that 12.50 = 100 Hence 48 x $12.50 Notice that $6.663 is of $100, $8.33 – † of $100, $16.66} = \ of $100, $3.331⁄2 = 1 of $10, etc. = = In this manner find the cost of each of the following, performing all multiplications mentally. 154. Division by Aliquot Parts of 100. Since 16 of 100, = we can divide by 16 by dividing by 100 and multiplying by 6. This suggests the method of dividing by any aliquot part of 100. Example 1. Divide 87400 by 12. 874 6992 Solution. Divide by 100 and then multiply by 8. Similarly, to divide by 63, divide by 100 and then multiply by 15; etc. 155. Further Short Cuts in Multiplication and Division. - The possibilities for contracting work are almost endless and will not easily be exhausted. The following suggest some of these. Give reasons for each one. ORAL EXERCISES 1. To multiply by 74, multiply by 10 and deduct of the product. 2. To multiply by 15, multiply by 10 and add 1⁄2 of the product. 3. To multiply by 35, multiply by 70 and divide by 2. 4. To multiply by 224, multiply by 90 and divide by 4. 5. To multiply by 112, multiply by 100 and add of the product. 6. To divide by 125, multiply by 8 and divide by 1000. 7. To divide by 74, divide by 10 and add of the quotient. 156. Finding Cost of Goods Sold by the 100 or the 1000.- Prices of goods are frequently quoted at so much per hundred or so much per thousand. Thus, iron in various forms is often sold at so much per hundredweight (cwt.). Bricks are sold by the thousand or M. Example. At $2.45 per cwt. find the cost of 3470 lb. of rod iron. As in the preceding examples find the cost of each of the following: 1. 7640 lb. at $1.95 per cwt. 2. 12,680 at $45.60 per M. 3. 4795 at $21.40 per M. 4. 1794 lb. at $2.35 per (cwt.). 5. 2160 lb. at $5.40 per (cwt.). 6. 18,675 at $53.75 per M. MISCELLANEOUS WORK 1. Using the form on page 28 enter the following data, fill in the daily balances, and find the totals: August 20, balance: $319.80; deposits: $130, $60, $25; checks: $2.80, $4.56, $10.60. August 21, checks: $5.25, $7.40. August 22, checks: $1.50, $12.50. August 23, deposits: $15.00; checks: $3.40, $5.00, $7.20. August 24, checks: $25.00, $2.50, $45.00. August 25, checks: $1.50, $7.50, $18.60. 2. Following is the record of 16 loads of corn hauled to the elevator. Find the net weight of each load and the total net weight. 3. An elevator contains 840,000 bushels of wheat. Twelve train loads of wheat are removed containing numbers of bushels as follows: 27 840, 31 690, 29 360, 24 980, 27 360, 31 240, 30 380, 29 080, 28 900, 23 430, 32 670, 31 240. Find the number of bushels left in the elevator. Use the method given on page 26. 4. In a large elevator amounts of wheat were received as follows in one day: 2860 bushels, 1430 bushels, 4930 bushels, 830 bushels, 150 bushels, 3980 bushels, 1740 bushels, 2360 bushels, 940 bushels, 380 bushels. The same day carloads of wheat were removed containing numbers of bushels as follows: 1570, 1380, 1445, 1260, 1480, 1435, 1395, 1540, 1510, 1490. Did the elevator gain or lose wheat this day and how much? Find the sums of the following by horizontal addition: 5. 389, 468, 590, 773, 857, 745, 1370, 2914, 3180. 6. 541, 792, 298, 347, 1592, 438, 964, 1874, 4912, 2672. CHAPTER XV BILLS AND ACCOUNTS 157. Importance of Bills and Accounts. In practically every kind of business, whether it be large or small, accounts must be kept and bills must be made out. Every one engaged in business should be able to make out a bill in proper form. The accountant should be able to design blank bills to meet the requirements of the business in which he is employed. 158. Items of a Bill. A bill is a statement rendered by a seller to the purchaser of goods. A bill should contain the following items: 1. Name and location of seller. 2. Name and location of buyer. 3. Date of sale of each item. 4. Quantity, nature, and price per unit of each item. 5. Total price of each item and total of the whole bill. 6. Extra marks on the goods, if any. 7. Terms of sale such as cash, credit for 30 days, 60 days, etc. 8. Extra charges, if any, such as cartage, freight, boxing, etc. 9. Any deductions, such as credits, discounts, part payments, etc. A bill for any kind of merchandise is also called an invoice. 159. Extending and Footing Bills. - Multiplying the price by the number of units to find the cost of each item is called extending the bill. Adding the cost of the items to find the total is called footing the bill. In extending bills one of the numbers to be multiplied is usually small enough to permit the use of the method of § 49. In such cases the work of extending is done orally. In case it is necessary to extend some items by ordinary long multiplication this work should be done on separate paper and the product only should be entered on the bill. |