Mayhew's Practical Book-keeping Embracing Single and Double Entry, Commercial Calculations, and the Philosophy and Morals of Business

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Chase and Nichols, 1864 - 228 páginas
 

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Página 10 - Grammar, which is defined as the art of speaking and writing the English language with propriety and accuracy, is now very generally studied in our common schools. But in order to turn it to the greatest account, its principles should be practically applied, in the school-room, to accounts, and to the ordinary business transactions of life. 11. Much attention is now very properly paid to Penmanship in our schools. But it should be borne in mind that the great mass of the people employ this art chiefly...
Página 123 - A receipt of goods makes the receiver liable to account for the same, according to the nature of the transaction, or the tenor of the writing.
Página 122 - LXXX1. 1. A NOTE is a written promise to pay a certain sum of money, or its value in goods, on demand, that is, when demanded ; or at some future day, and hence, all notes are called promissory notes. 2. A NEGOTIABLE NOTE is one which is made payable to AB, or order. 3. By indorsing a note is understood that the person to whom it is made payable writes his name on the...
Página 124 - Drafts are therefore sometimes drawn payable at sight, " without grace." (Form No. 9.) 169. A BILL OF EXCHANGE is a written request or order addressed by one bank or commercial house to another, requesting the payment of money to a third person named, or to his order. Bills of Exchange are Domestic and Foreign. When Bills of Exchange are drawn by parties residing in one state or country upon persons in the same state or country, they are called Bills of Domestic Exchange. When the parties to bills...
Página 131 - I give my note to a man for $107, payable in one year, without interest, the present worth of the note is $100 ; for this sum placed at interest for one year at 7 per cent, will amount to $107 at the time the note becomes due. In this case the present worth is...
Página 15 - Whenever one person receives any thing from another, which he does not pay for at the time, he is said to go in debt for it, and is called a Debtor. A person who sells property without receiving his pay at the time, is said to give credit for it, and is called a Creditor. In other words, the receiver is always the Debtor, and the giver is always the Creditor.
Página 143 - As the whole stock is to each partner's stock, so is the whole gain or loss to each partner's gain or loss. EXAMPLES FOR PRACTICE.
Página 5 - AGESILAUS, king of Sparta, being asked, " What things he thought most proper for boys to learn," answered, " Those which they ought to practise when they come to be men.

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