171

A TABLE FOR FINDING THE INTEREST OF ANY SUM OF MONEY FOR ANY NUMBER OF MONTHS, WEEKS, OR DAYS, AT ANY

RULE.-Multiply the principal by the rate per cent., and the number of months, weeks, or days, which are required; cut off two figures on the right-hand side of the product, and collect from the table the several sums against the different numbers as when added will make the number remaining. Add the several sums together, it will give the interest required.

N. B. For every 10 that is cut off in months, add 2d.; for every 10 cut off in weeks, add d.; and for every 40 in the days, td.

1. What is the interest of £2467 10s. for 10 months, at 4 per cent. per annum?

£. S. 2467 10 4

9870 0 10 987100 0

£. £. S. D. 900=75 0 0 80= 6 13 4

7= 0 11

8

987=82 5 0

172

2. What is the interest of £2467 10s. for 12 weeks, at 5 per cent.?

£. S. 2467 10

5

12337 10

12

1480150

3. What is the interest of £2467 10s. for 50 days, at 6 per cent.?

£. S.

2.-To find what an estate, from £1 to £60,000 per annum, will come to for 1 day.

RULE.-Collect the annual rent, or income, from the table of 1 year, against which take the several sums for 1 day, add them together, it will give the answer.

4. An estate of £376 per annum-what is that per day?

£. £. s. D.

300 0 16 51
70=0 3 10
6=0 0 4

3. To find the amount of any income, salary, or servants' wages, for any number of months, weeks, or days.

RULE.-Multiply the yearly income or salary by the number of months, weeks, or days, and collect the product from the table.

5. What will £270 per annum come to for 11 months, for 3 weeks, and for 6 days?

£.

270

11

For 11 months.

£. S. D. 2000=166 13 4 900 75 00 70= 5 16 8

2970 2970=247 10 0

1620 1620 4 8 91

4 8 91

267 10 33 Ans.

BOOK-KEEPING is the art of recording and classifying commercial transactions in Books adapted for the purpose, in a regular and systematic manner.

In Book-keeping, the rule is,-To make any person Debtor (Dr.) for money or goods which he receives from me, and to make him Creditor (Cr.) for whatever I receive from him.

THE INVOICE-BOOK, or Goods Bought Book, is used for keeping an account of all Goods purchased, their description, and the Names and Addresses of the Sellers. The en tries are copied from the Invoices sent with the Goods. The Invoice-Book is the Day-Book "Inwards," and all goods, materials, &c., must pass through this Book. As the Day-Book exhibits the total amount of Goods sold in each month, so the Invoice-Book shows the total amount of Goods purchased in each month.

The DAY-BOOK, or Goods-sold Book, is used for the purpose of making Daily Entries of all Goods sold, with particulars of the same. After the Goods are so entered, Invoices are made exactly as entered in the Day-Book, and sent to the Purchaser of the Goods.

The CASH-BOOK. In this Book is kept an account of all Cash eceived and paid, and of discount received and allowed. The CashBook requires two pages for entries. The left-hand page, or Dr. side, contains a list of all the Cash received: and the right-hand page or Cr. side, contains a list of all the Cash paid. Each page is ruled with double money columns; the inner for the discount, the outer for the nett Cash. As all Goods sold are first entered in the Day-Book, so all Moneys received or paid, must be first entered in the Cash-Book.

THE LEDGER. All the entries contained in the Day-Book, Invoice-Book, Cash-Book, &c., are collected together in the Ledger, and arranged in the order of their dates under the names of the parties to whom they belong. The pages or folios of the Ledger are consecutively numbered, and in the beginning is an Index of all the Names entered. A sufficient space is allotted to each person's account, and his name, and the number of the folio, are recorded in the Index to facilitate reference. Each page is ruled with Dr. and Cr. columns, and on the Dr. side of the page assigned to each person, the Dr. entries belonging to him are posted, and the Cr. entries are posted on the Cr. side.

Some other Books are also used in Book-keeping, as the Bill-Book, the Stock-Book, Petty Sales Cash-Book, Carriage of Goods-Book, Petty Expenses-Book, Trade Expenses-Book, Salaries and Wages-Book, &c., according to the nature of the Business carried on.

The following concise system of Book-keeping is adapted for a Ready-Money Business, and it will serve to initiate the student into the nature of keeping Accounts.