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7. An agent receives from a merchant abroad authority to purchase goods for him in this country, and he buys of A. 250l. worth, of B. 3007. worth, and of C. 951. worth, and pays for them with bills drawn on his correspondent. He is to receive 5l. per cent commission on his purchases. Give a copy of the account which it would be necessary to send to the merchant.

8. The following is an a/c of all the transactions with J. Smith on May 13:— Sold James Smith:

Returned by James Smith:

Goods

Goods

Allowed dock charges on goods sold to James Smith

Received of J. Smith his bill at 3 months for balance

of a/c.

Give a copy of his acct in my ledger.

£ s. d.

54 0 0

22 10 0

2 3 6

Set to Candidates for Temporary and Dockyard Clerkships in the Admiralty, &c.

SINGLE ENTRY.

Note to Candidate.-From the subjoined list of transactions construct (1) a Sales' Book or Day Book, (2) a Cash Book, and (3) an Invoice Book; and post all the entries into the Ledger:

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20. Accepted draft of R. Jacobs and Son, at 2 months.

62 10 0

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2. Would any books beyond those above named be required to record these transactions by Double Entry? If so, name them, and give the entries which it would be necessary to make in them; also give a copy of the additional ledger a/cs. which would be necessary.

Note.

Another paper :

The Candidate is requested to observe

1. That accuracy in copying is of great importance.

2. That no fair copy of the answers is to be made, but that the entries are to be written at once into the books provided.

3. That the calculations given in this paper may be accepted as correct, and need not be checked.

4. That nothing which is not strictly in answer to the questions proposed will be examined or marked for.

5. That the questions should be answered in the order in which they are given.

1. Write the following transactions into the books provided, putting allGoods sold into the Day Book.

1857.

Goods bought into the Invoice Book.

Transactions involving Cash or Discount, into the Cash Book.

July 1. Cash in hand

£ S. d.

357 10 0

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Bought of Jones and Son 40 bags cotton, 13,728
lbs. at 4ğd.

264 11 0

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7. Sold J. Smithson 10 bags cotton, 7,368 lbs. at 6d.

8. Bought of Peak and Co.: 2 lots Surat cotton:

Lot 217. 6 bales, 2,102 lbs. at 24d.

Lot 8. 6 bales, 2,081 lbs. at 24d.

184 4 0

21 17 11 21 13 6

43 11

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9. Sold Beale and Co. 6 bales Surat, 2,102 lbs. 3 d.

10. Sold John Parker 12 bags cotton, 3,102 lbs. at 4ąd
11. Received of J. Smithson on a/c

12. Received of Beale and Co. on a/c

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14. Sold James Westhead 18 bags cotton, 3,258 lbs.
at 5d.

19. Sold Holroyd and Swindells 3 bales Surat, 1043 lbs.

at 2 d.

22. Paid Peak and Co.

Cash
Allowed

67 17 6

11 18 11

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31. Paid wages, &c. to date

Questions set to Candidates for the Admiralty at Somerset House, Office of Works, &e.

THE PRINCIPLES OF BOOK-KEEPING BY DOUBLE ENTRY.

1. Supposing a Journal to be used, give the Journal entries for the following transaction:

"Sold to B. 1 pipe Port, 50l., and took his bill at two months for

the amount."

2. I buy Sherry of James Smith for 501. and sell it to B. for 55l.; B. pays me in a bill for 25l. and cash for 301., and I then pay to James Smith B.'s acceptance and cash for the balance, he allowing me 21 per cent on the whole amount. Give the Journal entries which would be necessary for recording these transactions in my books. 3. Give the Journal entries which James Smith would make for his part of the same transaction, and also those of B.

4. How should the following accounts be closed ?—

1. Merchandise.

2. Cash.

3. Profit and loss.

4. Petty expenses.

5. Describe the process of balancing. What errors are not checked by it, and how are they guarded against in practice?

6. A set of books is kept by Single Entry, and the books used are

1. Day Book or Sales' Book.

2. Cash Book.

3. Bill Book.

4. Ledger.

Show how this set of books could, at the end of a year, be changed to Double Entry, without making any fresh ones.

Note to Candidate. -The following should not be attempted till all you can do of the preceding has been completed.

B. Copy the following transactions into either

1856.

1. A Sales' Book or Day Book, a Cash Book, and an Invoice Book; or

2. (In the case of your not being able to do so) into any books that you consider would do in their stead.

In each case you must rule paper for yourself.

July 1. Cash in hand

£ s. d. 125 10 0

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1856.

July 20. Accepted draft of J. Edwards & Son, at 2 months

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£29 10 0
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Questions set in a Competition for a Clerkship in the

Colonial Office.

ACCOUNTS AND BOOK-KEEPING.

1. Under what circumstances will the Dr. side of a Cash Book be the

greatest?

2. A. has a balance of Cash in hand on January 1st of 251. On January 10 B. remits to him 5107. with directions to purchase certain goods on his [B.'s] account. Accordingly A. buys of C. goods worth 45l., of D. goods worth 310l., of E. goods worth 271., all on January 11. On January 15, January 17, and January 20 respectively A. pays for these goods. A. is to be allowed by B. 5 per cent on his purchases. Give a copy of A.'s Cash Book, of A's Ledger a/c for B., of A.'s Ledger a/c "Cash," and of the account which A. should render to B. In each case rule paper for yourself.

3. Journalize the following:

Jan. 1. Balance of Cash in hand

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£ s. d.

407 2 9 1507 3 4 49 0 0

49 0 0

4. On re-opening a set of books there are balances of the following accounts:-Merchandise, Cash, Bills Payable, Bills Receivable, Fixtures and Furniture. State on which side of the Ledger each balance will be placed.

5. At the end of the year and before they are closed, A.'s books show the following facts:-The total of the amounts on the Dr. side is 109,871. 7s. 11d. The Dr. side of his goods account amounts to 60,000l., and the Cr. to 40,000l. The Dr. side of Stock a/c is 9,000l., and the Cr. 18,500l. The Dr. side of Profit and Loss account is 4501. 7s. 6d., and the Cr. 397. The value of goods on hand is 21,2077.

(a) Give a copy of Stock a/c as it would stand after the Ledger had been closed.

(b) State whether A. is solvent or insolvent, and the amount which he is worth, or by which he is deficient.

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