FARMING AS A BUSINESS. 25 



same time charged to various sections or fields at a fair current 

 price,) and with the valuation of the barn and contents at the 

 close of the fiscal year, which should be about the 1st of March. 

 The balance of this account, of course, would represent the net 

 cost of whatever the animals had consumed, and should be 

 charged to their account. 



The reason for charging the valuation at the commencement 

 of the year, and crediting it at the close, is to show in the 

 account the depreciation and repairs. For instance, a barn is 

 valued at first at |1,000. It needs repairing, and you expend 

 $250 in sliingling, &c. It is hardly fair to charge the whole of 

 this to the repairs for the year of its payment, as the barn is 

 worth more for the expenditure. By charging first the original 

 value, $1,000, then the repairs, $250, and at the close of the 

 year crediting a fair valuation, which, under all the circum- 

 stances, improved as it is by the repairs, may be properly called, 

 say $1,200, you have a balance of $50, which very nearly 

 represents the depreciation and wear of the building. 



The stock account should be charged with the value of the 

 animals at the outset, and with cash paid for additions and for 

 food, with balance of barn account, as shown previously, and 

 credited with sales of animals, milk or meat, with milk and 

 meat consumed by the family, with labor performed by the 

 teams, either for others or for the different sections of the farm, 

 to which it is to be charged as shown, and finally with a fairly 

 estimated valuation of stock on hand at close of year. The 

 balance shows the gain or loss arising from the keeping of stock. 

 The value of such an account would be something surprising. 

 For instance, a simple calculation and sifting of the details 

 would show the exact cost of feeding or rearing any animal. 



Vehicles and tools should be charged with valuation at outset, 

 with repairs and renewals, including cash actually paid and 

 labor performed by the farmer himself, or his men, and credited 

 with value at end of year. The balance would show cost of 

 use of tools and vehicles, which sliould be properly divided up 

 and charged off to the various sections of the farm. The home- 

 stead and lot should be charged with valuation, with interest, 

 and its share of taxes and insurance (as indeed should every 

 other section of the farm,) with repairs and labor expended, 

 and credited with valuation at close of year. The balance 



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