702 IOWA DEPARTMENT OF AGRICULTURE 



(3) The list of bills receivable should be inspected, and any items that 

 have not yet been credited should be credited to the proper accounts. For 

 instance, if the creamery owes the farmer $65 for milk and a neighbor owes 

 him for some feed, the $65 should be entered as a credit to the cow account 

 and the feed item entered as a credit to the account from which the feed 

 was originally taken. 



(4) The record of all feed transferred to the live stock should be com- 

 pleted, charging the various animals and crediting the various crops. Pro- 

 duce raised and fed is charged against the animals at what it is worth on 

 the farm. Suppose, for instance, there were 80 acres of hay with a total 

 yield of 120 tons (20 tons of which had been sold and a credit entered) and 

 that the feed-disposal memorandum showed 60 tons fed to the cows and 

 15 tons fed to the horses, leaving 25 tons on hand. If hay is worth $12 per 

 ton at the barn, the hay should be credited by entering on the right-hand 

 page of the hay account "60 tons to cows @ $12 = $720; 15 tons to horses @ 

 $12 = $180." Now, charges against the cows "60 tons of hay @ $12" and 

 against the horses "15 tons @ $12" should be made. When the value of the 

 hay on hand, 25 tons at $12, as shown in the record inventory, is entered 

 as a credit to the hay account, the credits to this account will be complete. 



(5) The various classes of live stock should be credited with the portion 

 of unused feeds which were charged to them at the time of purchase or 

 harvest. These farm items, will, of course, appear in the second inventory 

 under the group headed "Feeds, produce, and supplies." 



(6) The use of pasture should be credited directly to the real estate or 

 to a pasture account and charged against the animals using it. The amount 

 charged for pasture should be as nearly as possible the market price; that 

 is, the price for which pasture rents in that region. 



(7) The value of produce used in the house, if not noted before, should 

 be entered. The proper crops or animals should be credited and charges 

 made against the personal account. This item includes estimates of the 

 quantities of milk, eggs, potatoes, and other products used by the family. 



(8) The entry of value of board, produce, or other allowances furnished 

 to the laborers should be completed. These charges should be made against 

 labor and the proper accounts credited. 



(9) The value of unpaid labor, such as work by the farmer himself, by 

 boys in the family to whom regular wages are not paid, and milking or 

 other farm work by women of the family should be entered. Make these 

 charges against labor and credit the personal account. 



(10) The animals should be credited with the value of the manure pro- 

 duced and this amount charged against the crops to which it was applied. 

 The valuation of the manure should be made at about the market price at 

 the farm. To find the quantity produced, a record should be kept of the 

 number of loads hauled to the fields. 



(11) The proper amounts for the use of the buildings by crops, animals, 

 the farmer, or laborers, should be entered. Each crop, each class of ani- 

 mals, the personal, account, and the labor account should be charged with 

 its proper proportion and credit of the real-estate account. As a general 

 rule, 8 to 10 per cent o^ the current value of the buildings may be charged 

 as rent. The proportion of the whole sum which each class of animals or 

 each crop should pay will have to be determined by the farmer in propor- 

 tion to the amount and value of the space occupied by each. Charges for 

 the use of the buildings on one farm were made as follows: 



