lo May, 1909.] 



Book-keeping for Farmers. 



311 



would not be so treated. The}' would be divided amongst the revenue 

 items in the proportion in which the money was expended.) 



Interest on Mortgage on Farm. — This expenditure is divided up amongst 

 the revenue items according to the area or value of the land taken up by 

 each particular branch. 



Creditors and Debtors. — They may be divided into two classes (i) those 

 which refer to capital items (land, waggons, &c.) and (2) those which 

 refer to revenue items (crops, horses, cattle, &c). 



Bills of Exchange.- — Bills of exchange or promissory notes are included 

 in the debtors and creditors and are not taken into account as receipts or 

 payments. 



Horses. — Although horses are dealt with as a department, the crop 

 consumed by them is not taken into account as it is considered that the 

 work performed by them in putting in and taking off the crop is sufficient 

 repayment for the crop consumed. 



Depreciation. — If great care is taken of the implements, &c.. the de- 

 preciation to be added to the losses each year need not perhaps be more 

 than 10 per cent, on the diminishing value, but if only ordinary care is 

 taken of them probably 15 per cent, will not be too much. Depreciation 

 will depend also to some extent on the nature of the machinery, &c., as 

 to whether they are likely to be superseded in the market bv later and more 

 up-to-date articles. 



" D." 

 (Credit tramactious only to be entered in tliis Book.) 



List of Debtors on 31si Decem- 

 ber, 1907. 



J. Cameron — 



2 tons lucerne hay at £3 

 per ton — sold on 18th 

 November, 1907 

 G. Brown — 



2 tons lucerne hay at £3 10s. 

 — sold on 24th October, 

 1907.. 

 B. Brew— 



1 light horse — sold on 31st 

 October, 1907 



E. Gilbert— 



1 cow — sold 15th Novem- 

 ber, 1907 



B. Roberts— 



2 fat steers at £7 each — 

 sold 18th November, 

 1907.. 



F. James — 



1 light cart — sold 1st Octo- 

 ber, 1907 



8th January, 1908. 



W. Robertson — 

 6 tons lucerne hay at £3 

 per ton 



2Sth January, 1908. 



J. Smith — 



2 pigs at £2 10s. each 



Date 



of 

 Pay- 

 ment. 



£ s. d. 



Creditors. 



17.1.8 



List of Creditors on Zlst Decem- 

 ber, 1907. 



B. Brooks— 



60 bushels seed wheat Tat 

 5s. — bought 1st Septem- 

 ber, 1907 

 H. Summers — 



1 draught horse — bought 

 28th November, 1907 . . 

 J. WiUiams— 



1 S.F. plough— bought 1st 

 November, 1907 



■20th January. 1908. 

 Victorian Implement Co.- 

 1 cultivator 



Date 



of 

 Pay- 

 ment. 



£ "s. d. 



