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B O O K - K E E P I N G. 59° P R O B. II. § 2. JVhat the Balances in proper Foreign Trade are, What the Balances in Fattory-accompts are. I. Voyage to, ox from , N° 16. 40. 47.^ 1. A. B. bis Accompt of Goods, N° 48. Contains, upon the Dr fide, the prime coft and charcontains, upon the Dr fide, the charges ge? of the cargo, 't he Cr fide is either empty, or it paidThisby accompt the fador. The Cr fide contains the fale or contains the receipt or difpofal of the goods by the factor, of the goods. In clofing this .accompt, there or perhaps returns made for them. There are therefore difpofiil the goods are all fold, and all here two cafes. Jl, If the Cr fide be empty, the fhip are-fiye varieties. 1/?,thisIfaccompt is balanced, by being is ftiil .at fea, or, at leaft, there has been as yet no ad- the moneyDr,received, firft to Profit and Lofs, for the fador’s vice of her arrival; and the accompt is clofed, by gi- charged commiflion, at-fo much per cent, after the.difFe.-r ving it credit by Balance, idly. If the Cr fide be filled tence of the fides is, the money due towhich, up, the difference of the fides is the gain or lofs made and is clofed, by being again charged Drtheto employer; A. his upon the voyage ; and accordingly the accompt is doled Accompt-current, for the faid difference, idly. IfB. the by being made Dr or Cr to or by Profit and Lofs. If goods, are all fold, but no money yet received, it is clothe fums of the fides happen to be equal, there is nei- fed, by being made Dr to Profit and Lofs, for the facther gain nor lofs on the voyage y and the accompt clofes- tor’s commiflion, and to A. B. his Accompt. on Tims, of ifelfi. for the out-flanding debts due to him. ^dly. If the goods are all fold, and only part of the money received, 2. A. B. my Accompt of Goods. clofed, by being made Dr to Profit and Lofs, for Contains, upon the Dr fide, the goods configned to, ittheis fador’s cbmmiffion ; X.o A. B. his Accompt on Time, and received by die fad or; and on the Cr fide, the for the out-ftanding debts; and to A. B. his Accomptdifpofal of the faid goods. Tiis accompt balances ex- current, for the employer’s in fador’s hands. actly as an Accompt ofgoods in proper domeJUc trade. qthly. If none of the goods be money yet fold, it is clofed, by giving it credit by Balance, for the futn of the charges 3. A. B. my Accompt on Time. 5^^, If only part of the goods are Contains, upon the Dr fide, the debts due to the on theandDrfo fide. the accompt unfiniflied, the beft way to fador, for my goods fold by him on time. 1 he Cr fide fold, it is, by a double balance; that is, firft charge it contains the payments made by debtors to the fadors. clofe Dr to Balance, for the fum upon the Cr fide; and then So that, if there be any difference of the fides, it is the give it credit by Balance, for the charges on the Dr debts yet out-(landing : And the accompt is clofed, by fide. Thus the accompt will appear in the new books ingiving it credit by Balance. the fame ftate that it did in the old. 4. A. B. my accompt-current, N° 41. 53. 2. A. B. his Accojnpt on Time, N° 49. Contains, upon the Dr fide, the money in the fador’s upon the Cr fide, the debts due by thofe hands, received by him of the fales of my goods, with whoContains, bought employer’s goods ; and as thefe debts are the remittances I had fent him, or payments I have made paid in to thethefador, is charged Dr to A. B. his Achim upon any other account. The Cr fide contains the compt-current, for theitfaid payments ; and therefore, if, payments or remittances he has fent me, with the debts at clofing of the Ledger, there be any difference of its I owe him upon any other fcore. In clofing this accompt, fides, it is the debts yet out-ftanding and is clofed, by there are two cafes. ft. If the inner columns, which being charged Dr to Balance, for the; faid difference. contain the foreign money, be equal; then, if there be any difference-between the outer columns, it is the gain 3. A. B. his Accampt-current, N° 36. 50. or lofs m-de by exchange; which flows from the diffe- Contains, the Dr fide, the money laid out by the rent rates of exchange at which thefe debts have been fador for theuponemployer’s as in anfwering his bills, (charged and difcharged : And the accompt in this cafe is or remitting bills to him, ufe, or- otherwife. The Cr fide clofed, by being made Dr to or Cr by Profit and Lofs, contains the money in the fador’s to the for the difference of the outer columns, idly* If the employer. So that the differencehandsof belonging is, the inner columns are unequal, they muft firft be brought to debts due by the fador to A. B. or byitsA.fides him ; an equality, by making the accompt Dr to, or Cr by Ba- and the accompt is clofed, by being made DrB. orto Cr ta lance, for their difference, valuing the foreign money at or by Balance. the current rate of exchange; which difference is a debt Note, If the fador difpofe of the employer’s good on duo by the fador if the.Dr fide be heavieft, but due to the truft, to perfons with whom he has private dealings of fader if the Cr fide be heavielt. If after this the outer his own, it will be proper, in clofing their accompts, to columns are unequal, their difference is, the gain or the balance into two parts, viz. ohe due for lofs made by exchange; and the accompt muft be clo- divide the employer’s goods, and the other due to or byfed, by making it Dr to or Cr by. Profit and Lofs, for himfelf. die faid difference. PROB,
