NOTE. The price per hundred or per thousand is expressed thus: C, or M. 2. What is the cost of 3145 Egg Harbor oysters, at 871 cents C? Ans. $27.52. 3. How much will be paid for 525 feet of poplar boards at $17.12 M, 1867 feet of hemlock scantling at $3.25 C, and 9850 feet of lath at $8.061 M? Ans. $149.08. 4. A lumber merchant bought 12720 feet of white oak plank at $53 M, 72450 feet of pine boards at $33.25 p M, and 4250 feet of siding at $1.87 C; what is his whole bill? Ans. $3162.81. 5. Wishing to have some repairs made on my house I bought 1675 shingles at $6.371⁄2 M, 6725 bricks at $7.871 M, and 2487 feet of boards at $14.75 M; what did my material cost? Ans. $100.32. CASE III. 296. To find the cost, the quantity and the price of a ton of 2000 pounds being given. 1. At $76.45 a ton, what will be the cost of 6427 pounds of railroad iron? SOLUTION.-Dividing $76.45, the price of a ton, by 2, we have $38.221, the price of 1000 pounds; and proceeding as in Case II., we have $245.67 as the price of 6427 pounds. OPERATION. 2)76.45 38.221 6427 245,672.07 Ans. $245.67. Rule. Multiply half the price of a ton by the quantity, and remove the decimal point three places to the left. 2. What is the cost of 7225 pounds of Lehigh red ash coal at $8.25 a ton, and 5673 pounds of Trevorton coal at $7.50 a ton? Ans. $51.08. 3. Shipped on the Baltimore and Ohio Railroad 92793 lb. of pig iron at $3.60 a ton, and 87437 lb. of English rails at $2.40 a ton; what was the charge? Ans. $271.95. 4. James Marter bought 750 pounds of potash at $6.871 C, and 8727 pounds of lime at $3.663 a ton, and sold the potash for 8 cents a pound and the lime at 22 cents p C; what was his profit? Ans. $11.64. BILLS AND ACCOUNTS. 297. A Bill is a written statement of goods sold, services rendered, etc., giving the place, date, names of parties, and the price, quantity, and cost of each item. 298. An Invoice is a full statement, sent to a purchaser or agent, at the time the goods are forwarded, containing the marks, contents, and prices of each package, the charges paid, and the mode of forwarding. The terms Invoice and Bill are often used interchangeably. 299. The Footing of a bill is the amount of its items. To extend an item is to write its cost in the proper column. A bill is receipted when the person to whom it is due, or his agent, writes at the bottom of the bill "Received Payment," and signs his name. 300. An Account Current is a written statement of the business transactions between two parties for a given time. The party who owes is the Debtor; the party owed is the Creditor. 301. To Balance an Account we find the difference of the footings of the two sides and add it to the smaller side, so that the two amounts are equal. NOTES.-1. The abbreviation Dr. signifies debit or debtor; Cr., credit or creditor; @signifies at, and denotes the price of the unit of measure; stands for account; for cents; No. or for number; pcs. for pieces, and 622, 183, 61, signify respectively 621, 183, 61; 3 pcs. sheeting 42, 421, 453 signifies that the pieces contain respectively 42, 424 and 45 yards. 2. Various marks, such as H enclosed in a diamond, called "diamond H," or K enclosed in a circle, called "circle K," and also different numbers, are placed upon goods and packages for convenience in distinguishing them in invoices. 3. Accounts current are frequently made out every month, and are then called monthly statements, and generally contain only the amounts bought at each date, bills of the items having been furnished at the time of buying. 4. Deductions are often made in bills, sometimes from the retail price of the items, and sometimes from the amount of the bill. Deductions from the retail price are generally made to customers buying in considerable quantities, and deductions from the amount are made for cash payments or payments within a short specified time, the prices in such bills being mostly wholesale. The symbol %, meaning hundredth, is frequently used; thus, less 6% means 6 hundredths deducted. 302. Required the footings and balances of the following bills and accounts: NOTE.-A deduction is made from the barrels, probably on account of leakage; 7 lb. of linseed oil make a gallon. Mr. THOMAS M. BROWN, 411 MARKET ST., PHILADELPHIA, Jan. 12, 1875. Mt. Airy, N. C. Bought of ROGERS, CHAMBERS & CO. NOTE.-3-5 refers to the numbers from 3 to 5; in the next to the last 230 260 item, 1 dozen etc., the meaning is that there are 1 dozen No. 5 @ $2.30, 1 dozen 5 @ $2.60 and so on. It will be noticed that here, where the dozen is repeated, the price is the upper term of the fraction and the size the lower, while in subsequent examples the number of dozens is the upper term, together with the size if given, and the price the lower. Thus when the price is the upper term the quantity is to be repeated as many times as there are different prices. NOTE. This bill shows a different manner of making out accounts. The first column gives a mark of the goods; the first item written out would read: 2 pieces beaver black alpaca, 54 yards each, 108 yards @ 871, the last column containing the cost of the item, as usual. Metres and auns are French measures, the former being equal to 12 yd. and the latter to 14 yd. They are reduced to yards in the yards column. Glass Dishes oval 1 Crate and Porterage, NOTE. 140 160 means that there are 2 dozen 6 inch plates @$1.25, 2 doz. 7 inch @ $1.40, and 2 dozen 8 inch @ $1.60, making the 6 150 200 250 72 23 dozen. Invoice of 142 Bales of Cotton, shipped per Steamer Ocean Wave, Jones Master, consigned to Wells & Davis, New York, for sale on account of Lafourche & Meurice. 472 577 600 signifies that we have C bolts inches in diameter by 41 long @ $4.72, C3 inches in diameter by 61 long @ $5.77, Cinches by 7 long @ $6.00, and 2 gross screws 1 in. 8 @ 56, 2 gross 9 @ 604. |