240 



FARM ARITHMETIC. 



hay at $14 a ton on January 21 ; 1 colt on January 26, 

 $75 ; and on January 31, a trio of sheep, $20. Indicate the 

 transactions for the month, and amount of balance on 

 hand or deficit to be carried forward : 



Left-hand page. 



RECEIPTS. 



Right-hand page. 



EXPENDITURES. 



Note. Starting the month of February, the $537 would be 

 entered on page devoted to "Receipts" under date of February 1, 

 as balance brought forward. Other items of "Receipts" would 

 be entered in order under this from day to day as received. The 

 same would apply to "Expenditures." Both "Receipts" and 

 "Expenditures" are to be carried right on through the year, 

 month by month. At the end of the year, if there is any surplus 

 on hand, it will go into the inventory of the next year as an asset. 

 If there is a deficit due to loss or purchase the amount will be 

 carried over as a liability. 



Detailed accounts. Only one book is necessary for 

 farm accounts. Of course, one or more may be pro- 

 vided, using one for live stock, another for poultry, 

 another for grain crops, another for farm hands, etc., 

 in addition to the inventory and current "Receipts and 



