80 BETTER DAIRY FARMING 



Adirondack Farmers Co-operative Exchange, Inc. 

 s at Nove 



ASSETS 



Balance Sheet as at November 30, 1922 



Current Assets 

 Cash: 



In Sandy Hill National Bank $1,385.70 



In Safe 285.10 $ 1,670.80 



Accounts Receivable 10,225.94 



Less Reserve for Bad Debts 102.26 10,123.68 



Inventories 



Supplies 267.66 



Sacks and Bags 207.53 



Gasoline 67.20 



Feed, Seed and Twine 20,404.90 20,947.29 



Total Current Assets, $32,741.77 



Capital Assets 



Building and Land 19,802.62 



Motor Delivery Equipment 2,334.60 



Less Reserve for Depreciation 466.06 1,868.54 



Horse and Wagon 306.67 



Less Reserve for Depreciation 45.99 260.68 



Machinery and Equipment 2,264.66 



Less Reserve for Depreciation 333.99 1,930.67 



Office Equipment 1,523.07 



Less Reserve for Depreciation 219.02 1,304.05 



Stock Subscription Account " 2,610.00 



Total Fixed Assets, 27,776.56 



Deferred Assets 



Unexpired Insurance and Deposits 628.11 



Total Assets, $61,146.08 



LIABILITIES 



Current Liabilities 



Accounts Payable $ 454.36 



Notes Payable S. H. Bank 14,500.00 



Trade Acceptances Payable 4,060.57 



Total Current Liabilities, $19,014.93 



Capital and Reserves 



Capital Stock 35,000.00 



Reserve for Contingencies 4,605.45 



Net Earnings Six Months Ended Nov. 30, 1922. . 2,525.70 42,131.15 $61,146.08 



I have examined the Books and Accounting Records of the Adirondack Farmers Co-operative 

 Exchange, Inc., for the six months ending November 30, 1922, and hereby certify that the at- 

 tached Balance Sheet and Statement of Earnings reflect in my opinion the true financial position 

 of this Exchange as at November 30, 1922, and cheir operations for that period. 



ROBERT E. DAME, 

 Special Accountant for Local Co-operatives. 



Careful bookkeeping is as essential to the successful operation of a co-operative as to any 

 other business. Books should permit the drawing off of such a statement as this at frequent 

 intervals. 



