NATURE OF CAPITAL AND INCOME [Cuap. VIII Practically, therefore, the lawyer’s income is obtained by taking from the above table only the two principal items, the income from investments and the income from his professional work. Each of these is $1500, so that according to this approximate accounting the net income is $3000. Another and more common method of approxi- mating an income account is to record simply money receipts and disbursements, in other words, to record only the items of the preceding account under “cash.” The lawyer's cash account book would present an appear- ance like the following: — Receipts Disbursements Investments, in stocks From stocks and bonds . $2000 andbonds . . . . $ 500 From personal labor . . 2000 Rent . . . . . . . 100 Furniture repairs . . . 30 Costoffood. . + . 50 Servants. . v . es 100 Clerk hive: «five 500 HE0 ovis 2500 $4000 $3780 This leaves a cash balance of $220, which is to be added, at the end of the month, to the cash on hand at the begin- ning. This balance does not here indicate the net income of the lawyer, as did the balance in the completer account- ing which preceded. The net income of the lawyer, in the incomplete and makeshift accounting now under consid- eration, is, so far as it is represented at all, shown in the total cash receipts less certain makeshift corrections. The justification of such accounting, so far as any exists, is that most income, from whatever source, passes through the cash drawer. It will be noticed that the receipts side of the above account, $4000, greatly exceeds the true net income, $2800, shown in the previous accounting. Instinctively any one vsing such mere money accounting feels the need