12 The Farmer^s Business Handbook 



end of the year should be made as at the be- 

 ginning. In the text the values have been 

 assumed since the method of taking the inven- 

 tory in detail is shown on page 9. However, in 

 practice, the details should be set forth clearly, 

 and from them the summary which follows would 

 be made. It should be noted that the values, 

 as set down in the second summary below, have 

 changed, some being larger and some smaller, 

 but their totals exceed the values at the begin- 

 ning of the year by $831.25, which is profit. 



Summary April 1, 1901 



Teams $650 00 



Live stock 526 50 



Farm tools 396 00 



Farm products 200 00 



Bills receivable 689 25 



Farm household 726 25 



Cash on hand 250 00 



$3,438 00 



Less bills payable 28 00 



Net personal assets $3,410 00 



Value of farm $5,000 00 



Less balance of mortgage unpaid 815 50 



Net $4,184 50 



Net value of all property $7,594 50 



Net value of property April 1, 1900 6,763 25 



Gain $831 25 



