ABSTRACT
Frbm eumple11 2 1\nd 6 it will be aeon thl\t gnina mullr18HCR are not 1111\u~lly crcdit,(J(l and <lobite(} directly to "Cnpitnl'' IIOOotmt, whic\1 clepnl"tmont repreaent11 t.he t•reMent worth, hut to "J•roftt. and lm111." 'rhiR i11 dono, in c1rtlnr not to di11turh th11 "\Vorth," oxoopt pcriocliCRlly in R grm111 ammmt, which amount show11 the oxtont or our hn11in0llll sncooM. "Prollf ancl Loaa" ia a 11ort of rMorvoir into· which all gain11 Rncl lo1111e11 are pourecl merely to he helcl until "couvnnicmt senson, when tho net result is transferrecl in ono 1111m t41 tho" \Vortb" account. Ot\lled " CapitAl" or 1• Stock. •• Aa "Profit and Loa11" is tributary to "Worth," of which it is R aubdhiaion, ao there 1\re other ACcounts tribnt.Rry to " Profit and Loss" itaclf. lnlltl.'ncl of ml\king "Prof\t ami WRA" ~he debtor, we mBy temporarily consider "ExJICIIRe" 1\11 clebtor, un<lcrRtnmling thRt Rt the time of hRll\ncing t.lte bookR (rooncing the cqt\1\tion) wo tnmHfer ita net r111111lt to "Profit ancl Lo1111." GRins from Int.ereHt ancl loiiiiCII by Interest may be grouped int.o Rn "intorc11t" I\CC011Dt or depArtment ; commiMionlllll\id Rn<l received 1111\Y he grouped into "Cftmmiasion " account. Such accounts tmhor<linate to Profit an<l LoaR may be multi·
. plied to any extent desirable. 27. The Journn.I.-We bRvc now gh·en eix examplea of
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