61. A form of ledger now in quite common use is known as the _balance ledger_. The form differs from the standard ledger form in being provided with an extra column in the center in which balances are extended. If the bookkeeper when posting, extends the balance after each item is posted, much time is saved in looking up accounts and in taking trial balances. The nature of the account will usually indicate whether there is a debit or credit balance. Accounts in the sales ledger will usually show a debit balance, while one in the purchase ledger will have a credit balance. If the balance is the opposite from what is to be expected it may be indicated by placing the letter _D_ in front of the amount in the balance column for debits, or the letter _C_ after the amount for credits. [Illustration: WHEEL LATHE SHOP IN THE BALDWIN LOCOMOTIVE WORKS, PHILADELPHIA, PENNA.] [Illustration: Center-Ruled Balance Ledger] SAMPLE TRANSACTIONS 62. The following transactions exhibit the accounts which are special to a manufacturing business without including the commercial accounts which record sales. The manner of keeping those accounts is the same for a manufacturing business as for any other. Being a business conducted by a corporation these accounts include the stock accounts usually kept in the general books. The auxiliary stock books are omitted, it being felt that the special illustrations of such books will have been sufficient to give the student a thorough understanding of their uses. The books required in the manufacturing business, omitting sales accounts, are _invoice register_ or _purchase book_, _cash book_, _journal_, _pay-roll distribution book_, _purchase ledger_, and _general ledger_. A corporation known as the Atlas Manufacturing Co., is organized with an authorized capitalization of $100,000.00, with the provision that business is to begin when $50,000.00 of the stock has been subscribed, and $25,000.00 paid in. The incorporators are Henry Biddle, John Noonan, David Snow, Henry Farwell, and George Dunn. Each incorporator subscribes for $10,000.00 stock payable one-half down and one-half in 30 days. The detailed record follows: --March 1-- Received subscriptions to the capital stock, payable one-half down, and one-half in 30 days, from the following. Stock is to be issued when paid in full. Henry Biddle $10,000.00 John Noonan 10,000.00 David Snow 10,000.00 Henry Farwell 10,000.00 George Dunn 10,000.00 Received cash in payment of subscriptions from the following: Henry Biddle 5,000.00 John Noonan 5,000.00 David Snow 5,000.00 George Dunn 5,000.00 Received from Henry Farwell His note at 30 days with 6% interest in payment of installment on his subscription 5,000.00 -------- Deposited cash in Second National Bank 20,000.00 --2--