But since the balance account must thus always give the _same sum_ on both sides, and since _balance debtor_ implies what is favourable to the concern, and _balance creditor_ what is unfavourable, does it not appear as if this system could only be applied to cases in which there is neither loss nor gain? This brings us to the two accounts in which are entered all that the concern _began with_, and all that it _gains or loses_--the _stock account_, and the _profit-and-loss account_. In order to make all that there was to begin with a matter of double entry, the opening of the ledger supposes the merchant himself to put his several clerks in charge of their several departments. In the stock account, _stock_, which here stands for the owner of the books, is made creditor by all the property, and debtor by all the liabilities; while the several accounts are made debtors for all they take from the stock, and creditors by all the responsibilities they undertake. Suppose, for instance, there are £500 in cash at the commencement of the ledger. There will then appear that the merchant has handed over to the cash-box £500, and in the stock account will appear, “Stock creditor by cash, £500;” while in the cash account will appear, “Cash debtor to stock, £500.” Suppose that at the beginning there is a debt outstanding of £50 to Smith and Co., then there will appear in the stock account, “Stock debtor to Smith and Co. £50,” and in Smith and Co.’s account will appear “Smith and Co. creditors by stock, £50.” Thus there is double entry for all that the concern begins with by this contrivance of the stock account.