408 



AGRICULTURAL ECONOMICS 



to in order to secure some of the results desired. It will be 

 worth while to describe some of these methods of study briefly 

 in order to illustrate their use. 



Farm accounts. Every farmer should undertake to keep 

 some record of his work. If he is not much inclined to figures 

 and feels that he does not wish to undertake anything more, 

 he should take an inventory once a year. A farm inventory 

 is a complete list of all the farm property owned by the farmer, 

 a list of his indebtedness, and a list of the bills payable to him. 

 All the items in the inventory are valued at the time of the 

 inventory. By comparing the value of property at the begin- 

 ning of the year with that at the end of the year, the farmer 

 knows how much he has gone ahead or fallen behind during the 

 year. 



Many a farmer has thought he was doing well because he had 

 plenty of ready money, only to find himself hard pressed for 

 funds a year later. For a short time the farmer can take in 

 money faster by selling cows than by selling milk, but in the 

 year's balance he may have lost heavily by this course. 



The following summary of an inventory and financial state- 

 ment will help one to understand the use of this class of records : 



TARPLEYWICK FARM 

 Summary of Inventories, March i, 1915-1916 



Real Estate 



I. Land 

 II. Buildings 

 III. Water System 



$19,675.00 

 4,739.06 

 167.21 



1916 



$19,675.00 



4,649.61 



201.50 



Total Real Estate 



IV. Horses 



V. Cattle 



VI. Hogs 



VII. Poultry 



VIII. Sheep 



Total Livestock 



IX. Produce, Seeds, an 



X. Miscellaneous Supplies 



$24,581.31 



$24,526.11 



Livestock 



