THE FARM RECORD 487 



Ca.sh 



19 



Mar. 16. W. Wild, hogs $300.00 



Hogs 



19 



Mar. 1(). Cash, hogs $300.00 



If one borrows one thousand dollars cash on a note, the 

 amount is recorded on the left side of cash account (the prop- 

 erty received) and on the right side of notes payable account 

 (the reason for receiving the cash). Cash received from the 

 sale of milk requires an entry on the left side of cash and the 

 right side of cattle account. 



In keeping cost records of a simple t5'pe, one records all cash 

 transactions from day to day as presented above. In addition 

 he keeps a more or less detailed record of the quantity of crops 

 consumed by live stock, the relative amount of labor, and horse 

 labor performed for each farm element and the quantity of vari- 

 ous farm products consumed by the household. Such items can 

 be estimated daily, weekly, or monthly, or a detailed accurate 

 record can be kept. By whatever method obtained, the quan- 

 tities and hours are valued and used as a basis for making 

 entries at the close of the year. 



Entries for crops consumed by livestock are made on the right 

 side of the accounts of each of the several crops consumed and 

 on the left side of each of the several classes of live stock. (This 

 complies with the general principle, because, e. g., there is less 

 corn and more hog.) Labor account receives an entry on its 

 right side for all labor performed (hours, time rate per hour, 

 commonly thirty cents), the same amount being split up into 

 several items and recorded on the left side of the various crop, 

 livestock, household or other accounts, in the interest of which 

 the labor was used. Similarly, the horse labor (hours, time rate 

 per hour, commonly fifteen cents) is entered on the right side of 

 horse account and left side of the accounts affected by the use 

 of horses. 



