CO129-293 - Governor Sir Blake - 1899 [8-9] — Page 51

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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40

圭

Y

in order to close the Crown Agents advance account it was necessary to make an adjusting entry of no less a sum than $187,258.60, and this was done by adding the above sum on the payment side of the Colonial balance sheet below the line to the Crown Agents advance account, and then deducting it from the grand total of the account.

4. To illustrate more clearly how the rate of exchange affects the accounts as kept in currency the following example is quoted.-

On the 1st May supposing the Crown Agents to lend £20,000 on our account with exchange at 2/2. The Crown Agents take credit in their cash account with us for the £20,000 and we have to convert it in our books and accounts as equivalent to $184,615.38 and it appears in our ledgers and in the monthly account below the line as a payment of that amount in currency.

On 31st July the Crown Agents are repaid the £20,000 when exchange has fallen to 2/- they debit themselves in their cash account with us with the £20,000, and when we come to convert this into currency we have on the receipt side of the account and in our ledgers a receipt of $200,000, so that although, as far as the Crown Agents are concerned, the amount of sterling on

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2026-05-31 06:15:32 · NVIDIA / meta/llama-4-maverick-17b-128e-instruct
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40 圭 Y in order to close the Crown Agents advance account it was necessary to make an adjusting entry of no less a sum than $187,258.60, and this was done by adding the above sum on the payment side of the Colonial balance sheet below the line to the Crown Agents advance account, and then deducting it from the grand total of the account. 4. To illustrate more clearly how the rate of exchange affects the accounts as kept in currency the following example is quoted.- On the 1st May supposing the Crown Agents to lend £20,000 on our account with exchange at 2/2. The Crown Agents take credit in their cash account with us for the £20,000 and we have to convert it in our books and accounts as equivalent to $184,615.38 and it appears in our ledgers and in the monthly account below the line as a payment of that amount in currency. On 31st July the Crown Agents are repaid the £20,000 when exchange has fallen to 2/- they debit themselves in their cash account with us with the £20,000, and when we come to convert this into currency we have on the receipt side of the account and in our ledgers a receipt of $200,000, so that although, as far as the Crown Agents are concerned, the amount of sterling on
Baseline (Original)
> 40 圭 Y in order to close the Crown Agents advance account it was necessary to make an adjusting entry of no less a sum than $187,258.60, and this was done by adding the above sum on the payment side of the Colonial balance sheet below the line to the Crown Agents advance account, and then deducting it from the grand total of the account. 4. To illustrate more clearly how the rate of exchange affects the accounts as kept in currency the following example On the 1st. May supposing the Crown Agents is quoted.- s d to lend £20,000 on our account with exchange at 2/2. The Crown Agents take credit in their cash account with us for the £20,000 and we have to convert it in our books and accounts as equivalent to $184,615.38 and it appears in our ledgers and in the monthly account below the line as a payment of that amount in currency, on 51st July the Crown Agents are repaid the £20,000 when ex- S change has fallen to 2/- they debit themselves in their cash account with us with the £20,000, and when we come to convert this into currency we have on the receipt side of the account and in our ledgers a receipt of $200,000, so that although, as far as the Crown Agents are concerned, the amount of sterling on
2026-05-31 06:15:32 · Baseline
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>

40

圭

Y

in order to close the Crown Agents advance account it was

necessary to make an adjusting entry of no less a sum than

$187,258.60, and this was done by adding the above sum on the

payment side of the Colonial balance sheet below the line to

the Crown Agents advance account, and then deducting it from

the grand total of the account.

4. To illustrate more clearly how the rate of exchange

affects the accounts as kept in currency the following example

On the 1st. May supposing the Crown Agents

is quoted.-

s d

to lend £20,000 on our account with exchange at 2/2. The Crown

Agents take credit in their cash account with us for the £20,000

and we have to convert it in our books and accounts as equivalent

to $184,615.38 and it appears in our ledgers and in the monthly

account below the line as a payment of that amount in currency,

on 51st July the Crown Agents are repaid the £20,000 when ex-

S

change has fallen to 2/- they debit themselves in their cash

account with us with the £20,000, and when we come to convert

this into currency we have on the receipt side of the account

and in our ledgers a receipt of $200,000, so that although, as

far as the Crown Agents are concerned, the amount of sterling

on

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