HOIV TO KEEP FARM ACCOUNTS. 



ward or closed as we have agreed to do as indicated by the entry 

 in red. 



If you refer to Plate 60 you will see we agree to credit Fox 

 with his "Present Worth" at the time the books are closed. (See 

 entry in black ink of |;12,703.G0 on Plate 61.) 



Therefore, all red ink entries are either brought down or car- 

 ried forward to the opposite of the Ledger in black ink. 



11. WHEN SHALL THE FARMER BEGIN OR OPEN 

 HIS LEDGER? — It is customary among merchants and manufac- 

 turers to close their books at least once a year, and it is understood 

 by them that the first of the year, as far as the records of the busi- 

 ness are concerned, is at the time the time the books are closed. 

 In commercial pursuits, January 1st is usually selected, but on the 

 farm, this must be consideredwhether it isn't best to select a time 

 when the live-stock and other products are at their minimum? 

 For instance, among farmers generally in the northern half of the 

 United States the first of March or April finds most of them with 

 less stock and produce on hand than at any other time of the 

 year, and the active labor of putting in the oats, barley and other 

 spring crops barely begun. Any date will do, and the farmer must 

 decide for himself what time of the year suits his location, rota- 

 tion and farm management best. 



28 



