HOIV TO KEEP FARM ACCOUNTS. 



6. THE POULTRY ACCOUNT.— On most farms, unless 

 Poultry is made a specialty, the proceeds is considered the wife's 

 to do with as she sees fit. Sometimes she trades the eggs out at 

 the "store" for different little things needed round about the house, 

 and sometimes she takes the cash, but, generally, whatever is de- 

 rived from this source is considered hers to do with as she pleases. 

 For that reason Poultry is not included in the inventory of the 

 illustration given in the following pages. But if the owner of a 

 farm decides to have an account with "Poultry" he should include 

 it in his inventory, in which case he would have to credit the 

 "Production" account with all proceeds from the poultry — that is 

 treat it as he would his hogs, sheep or cattle. 



7. THE INVENTORY.— What has been said about it being 

 necessary to include the Poultry in the inventory, if it is decided 

 to have an account with it represented in the ledger, brings to 

 mind the importance of the inventory. If you have read Prof. 

 Henry's "Feeds and Feediug" you know how much importance he 

 places on the old maxim that "The eye of the master fattens his 

 cattle." Now, in accounting never forget the importance of the 

 inventory. An inventory is the first thing to take before any 

 books can be opened, and it is the first thing to take before they 

 can be closed. It is one of the most important steps in accounting, 

 but even as important as it is, so many business men neglect it, 

 leaving it to subordinates who do not fully realize how vital it is 

 to the success of the business, tliat fully 95 per cent, of the failures 

 ill business can be traced directly to this carelessness or ignorance. 

 B}' all means take your inventory yourself and carefully. Get 

 ready for it so that when the day comes you can take it without 

 trouble or guess work. Remember that everything should be in- 

 cluded in the Inventory that is used in the maintaiuance of your 

 farmstead or to increase its products. And further, that the value 

 of each implement, all live-stock, feed and products on hand at 

 the time it is taken should be honestly set down. Make the values 

 just what you could get in the open market for all except the im- 

 plements, and on these deduct a certain percentage each year for 

 "wear and tear" from the prices paid. Some manufacturers de- 

 duct ten per cent., but generally this is too much for farm machin- 



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