CHAPTER II 



THE KINDS OF ACCOUNTS 



The method of determining gain or loss out- 

 lined in Chapter I, while useful, is not full enough 

 to reveal just where the gains or losses are 

 made. The live stock may have been kept at a 

 loss, while the growing of wheat resulted in sat- 

 isfactory gain, or the live stock may have been 

 kept at a profit while the wheat was grown at a 

 loss. If the farmer is disposed to study his busi- 

 ness critically, accounts must be kept somewhat 

 in detail, and these will require some time, care 

 and judgment. He who is willing to guess at 

 the profits or losses of the various subdivisions 

 of his business would better not undertake the 

 keeping of a more detailed account than has 

 already been outlined. But he who wishes to 

 improve his methods and judgment, who wishes 

 to master his business and not let it master 

 him, would do well not simply to read, but to 

 study carefully what follows. 



The system given on the foHowmg pages is 

 known as double-entry (p. 28). To get a clearer 

 idea of the subject it is best to have in mind a few 



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