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Contributor to The Engineering Press.

JOSEPH FRENCH JOHNSON Dean of the New York University School of Commerce, Accounts, and Finance.

M. U. OVERLAND Of the New York Bar.

THOMAS CONYNGTON Of the New York Bar.

E. ST. ELMO LEWIS Advertising Manager, Burroughs Adding Machine Company.

Formerly Manager of Publicity, National Cash Register Co.

T. E. YOUNG, B. A., F. R. A. S. Ex-President of the Institute of Actuaries.

Member of the Actuary Society of America.

LAWRENCE R. DICKSEE, F. C. A. Professor of Accounting at the University of Birmingham.

CHARLES U. CARPENTER General Manager, The Herring-Hall-Marvin Safe Co.

Formerly General Manager, National Cash Register Co.

C. E. KNOEPPEL Specialist in Cost Analysis and Factory Betterment.

HARRINGTON EMERSON, M. A. Consulting Engineer.

Director of Organization and Betterment Work on the Santa Fe System.

Originator of the Emerson Efficiency System.

ELMER H. BEACH Specialist in Accounting Methods.

Founder of The Bookkeeper.

J. J. RAHILL, C. P. A. Member, California Society of Public Accountants.

FRANK BROOKER, C. P. A. Ex-New York State Examiner of Certified Public Accountants.

Ex-President, American Association of Public Accountants.

CLINTON E. WOODS, M. E. Specialist in Industrial Organization.

Formerly Comptroller, Sears, Roebuck & Co.

CHARLES E. SPRAGUE, C. P. A. President of the Union Dime Savings Bank, New York.

DR. F. A. CLEVELAND Of the Wharton School of Finance, University of Pennsylvania.

Foreword

With the unprecedented increase in our commercial activities has come a demand for better business methods. Methods which were adequate for the business of a less active commercial era, have given way to systems and labor-saving ideas in keeping with the financial and industrial progress of the world.

? Out of this progress has risen a new literature--the literature of business. But with the rapid advancement in the science of business, its literature can scarcely be said to have kept pace, at least, not to the same extent as in other sciences and professions. Much excellent material dealing with special phases of business activity has been prepared, but this is so scattered that the student desiring to acquire a comprehensive business library has found himself confronted by serious difficulties. He has been obliged, to a great extent, to make his selections blindly, resulting in many duplications of material without securing needed information on important phases of the subject.

? In the belief that a demand exists for a library which shall embrace the best practice in all branches of business--from buying to selling, from simple bookkeeping to the administration of the financial affairs of a great corporation--these volumes have been prepared. Prepared primarily for use as instruction books for the American School of Correspondence, the material from which the Cyclopedia has been compiled embraces the latest ideas with explanations of the most approved methods of modern business.

? Editors and writers have been selected because of their familiarity with, and experience in handling various subjects pertaining to Commerce, Accountancy, and Business Administration. Writers with practical business experience have received preference over those with theoretical training; practicability has been considered of greater importance than literary excellence.

? The principal value which is claimed for this Cyclopedia is as a reference work, but, comprising as it does the material used by the School in its correspondence courses, it is offered with the confident expectation that it will prove of great value to the trained man who desires to become conversant with phases of business practice with which he is unfamiliar, and to those holding advanced clerical and managerial positions.

? In conclusion, grateful acknowledgment is made to authors and collaborators, to whose hearty co?peration the excellence of this work is due.

Table of Contents

VOLUME V

Wholesale Business--Controlling Accounts--Sample Transactions-- Order and Sales Record--Abstract of Sales--Sales Expense--Trial Balance Book--Commission and Brokerage Business--Merchandise Broker--Manufacturer's Agent--Shipments--Agents' or Factors' Account--Principal's Account--Commission Account--Produce Shipper's Books--Commission Merchants' Books--Consignment Ledger Account--Storage Accounts--Special Records

Distinctive Features--Books Used--Debit and Credit--Posting-- Proprietor's Account--Proving Work--Model Set--Determining Profit--Closing Books--Changing to Double Entry--Trial Balances and Comparative Statements--Comparative Statements--Proof without Trial Balance--Book Inventories--Demonstration of Proof--Reverse or Slip Posting--Special Accounting Forms--Cash Books--Cash Journals--Tabular Sales Books--Pay-Roll Records

Executors' Accounting--Inventory--Intermediate Account--Final Account--Schedules--Form of Account--Sample Accounts--Accounts with Trust Provisions--Exercise--Realization and Liquidation Account--Statement of Affairs--Resources and Liabilities-- Balance Sheet--Affairs of a Bankrupt--Appraiser--Statement of Affairs--Deficiency of Account

Grain Purchases--Bulls and Bears--Broker's Commission-- Securities--Transfers--Clearing House--Ring Settlement-- Commodities Handled--Cornering Market--Value of Wire-- Settlement of Contracts by Offset--Adjustment of Balances or Settlement--Commission Allowed Brokers--Books and Forms Used-- Glossary of Board of Trade Terms

European Methods--Machines for Manifolding--Development of Billing Machines--Loose-Leaf Sales Sheets and Invoices-- Duplicate Invoices--Condensed Billing--Traffic Department Records--Analysis of Quantities and Amounts--Unit Billing--Back Orders--Split Orders--Loose-Leaf Sheets--Binders--Designing Stationery--Styles of Type--Carbon Papers--Blinds--How to Handle Orders on Billing Machine--Invoices in Blanket Form-- Tabulators--Computing Machines in Billing--The Colored Sheet System--Compound Forms--Retail Dry Goods Billing--Devices of the Future

REVIEW QUESTIONS Page 303

INDEX Page 319

Footnote 1:

For professional standing of authors, see list of Authors and Collaborators at front of volume.

Footnote 2:

For page numbers, see foot of pages.

WHOLESALE, COMMISSION, AND STORAGE ACCOUNTS

WHOLESALE BUSINESS

In this section complete methods of bookkeeping as practiced in wholesale houses are demonstrated. Numerous modern methods that are readily adaptable to other lines of business are illustrated and explained in detail.

DIVIDING THE LEDGER

The sales ledger is sometimes subdivided into two or more parts. The divisions may be City and Country or they may be according to the letters of the alphabet--as A-K, L-Z, etc.

When statements of the other ledgers have been made and proved correct, a trial balance of the general ledger is made.

CONTROLLING ACCOUNTS

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