Part 5

Author of "American Accountants' Manual."

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

Formerly Comptroller, Sears, Roebuck & Co.

Author of "Organizing a Factory," and "Woods' Reports."

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

Author of "The Accountancy of Investment," "Extended Bond Tables," and "Problems and Studies in the Accountancy of Investment."

CHARLES WALDO HASKINS, C. P. A., L. H. M. Author of "Business Education and Accountancy."

JOHN J. CRAWFORD Author of "Bank Directors, Their Powers, Duties, and Liabilities."

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

Author of "Funds and Their Uses."

GENERAL SALES OFFICES, SWIFT & CO., CHICAGO, ILL. ]

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.

¶ In addition to covering the entire general field of business, this Cyclopedia contains much specialized information not heretofore published in any form. This specialization is particularly apparent in those sections which treat of accounting and methods of management for Department Stores, Contractors, Publishers and Printers, Insurance, and Real Estate. The value of this information will be recognized by every student of business.

¶ 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 coöperation the excellence of this work is due.

Table of Contents

VOLUME V

WHOLESALE, COMMISSION, AND STORAGE By James B. Griffith Page 11 ACCOUNTS

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

SINGLE ENTRY BOOKKEEPING By James B. Griffith Page 91

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

TRUSTEES' AND EXECUTORS' ACCOUNTS By James B. Griffith Page 163

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

STOCK BROKERS' ACCOUNTS By Chas. A. Sweetland Page 195