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Editok op Courier: - The accountants of the couiity liave apparently been iuterested In solving or attempting to solve a linie problem tbat appeared in an Ohio paper, and also in the Ann Arbor Kegister. By request I send the Inclosed actual business problem, tliat yourtnany readers ma y amuse tuemselves; hopiu that they may be more successful than the thousand or more wuo liave attouipted the solution of the ones referred to above. Yours very truly, B. E. Niciiols. EXAMPLE. Eaton of New York, and Morely of ÜMIcago, form a partnership to buy and sell graln. Morley Is to buy and Eaton Is to sell. They are to share gains or losses equally. Eaton gcnds to Morley bis check on Merchante' National Bank tor $5,000. Morley buys and ships to Eaton at various times $0,200. He draws on Eaton at sight for $G,000; continúes bis punchases and makes other shipmcnts to the amount of $7,500. Hts total purchaaea have umounted to $20,600, aud hls expeuses liave been f 480 B0 Kal. mi lias sold to the araount of Mimi oo Katon's expenses liave leen 1,2(10 80 Morley has sold to llie amount of 2,48 Ou M orley has ou hand u nsold ï,97S oo Enton has on hand unsold 4,200 00 They now wish to close up business. Each agreca to keep the stock on hand at invoice price nnmed above. Eaton repoi ts a note received for sales of $480 as worth but 60 per cent. of lts face. Have they galned or lost and kow much? and how shall theysettleV Does Eaton owe Morley or Morley owe Eaton, and how much f


Ann Arbor Courier
Old News