Williard E. Stone PROFESSOR UNIVERSITY OF FLORIDA
GRAMMATEUS REAPPEARS IN 1911
Abstract: There seems to have been little change in financial statements from Grammateus to 1911. This article contains a 1911 practice set which was used to teach transaction accounting as well as trial balance and statement prepara-tion along the lines described in the previous article.
Just after editing the Inoue manuscript translating the 1521 ac-counting text of Grammateus, a practice set from 1911 was given to me for Christmas. It had been purchased in Miller Falls, Massa-chusetts and was titled Modern Illustrative Bookkeeping (Introduc-tory Course). The student, Mary R. McGlynn, had completed sam-ple transactions for two different business organizations for the years 1911 and 1912. The instructor, F. W. Morrill, stamped his ap-proval and its date on each assignment. The text used is not known but all the vendors and customers which the practice set businesses dealt with were located in small towns in central Massachusetts. Each practice set ended with a balanced trial balance and a "busi-ness statement."
The "business statements" differed from those of today and by an amazing coincidence were very similar to the ones translated from Grammateus and illustrated in the flow chart (Fig. 1) of Profes-sor Inoue's article.
Business Statement, May 31, 1912
Mdse. on hand at close of last month Mdse. purchased during month Gain carried down
9,362.10 9,362.10 1,921.21 11,283.31
Expense cost during month Less inventory for unexpired
insurance & stationary Discount
Depreciation as under furniture