SPECIAL ACCOUNTS AND ENTRIES 131 



The physician can easily avoid that apparent misrepre- 

 sentation of his books, by keeping two sets of books, one 

 at the office, and one at the house. 



The farmer, however, finds this to be very impractical 

 if not impossible. The household is so near to the busi- 

 ness, in his case, and the activities are so interwoven that 

 it is almost forgotten that the farm is, in a business sense 

 at least, separate from the house to which the man goes 

 after finishing his day's work. 



However nearly related the household and farm may be, 

 it is necessary to keep the records of the farmer in such 

 a way that it can be easily determined what his profit is 

 from the farming business and what it is as an individual. 



For this purpose, the Household account is one of the 

 accounts that should always be found in the farm ledger. 

 In it are recorded all transactions of the household with 

 the farm proper or with outside parties. In fact it is con- 

 sidered that all property in the beginning belongs to the 

 farm with the exception of household furnishings and uten- 

 sils. At any time subsequently the Household is debited 

 for what it uses of the farm's resources or services and is 

 credited for the value of its resources or services used by 

 the farm. 



Briefly, the Household is debited for everything bought 

 for its use, and for everything contributed to it by the 

 farm in the way of livestock and their products, grain, 

 fuel or other commodities. It is credited for any services 

 given to the farm by members of the household. This in- 

 cludes the time of the owner of the farm or any of his 

 family and the board and lodging of hired help. 



In the closing process at the end of the fiscal year, the 

 Household account is credited with the inventory value 1 

 of household and personal belongings on hand. Such in- 

 ventory includes all house furnishings, utensils, jewelry, 



1 See Appendix A, Pricing Inventories. 



