SPECIAL ACCOUNTS AND ENTRIES 147 



The amounts in the "valuation for accounts" column 

 under date of Feb. 29, 1916 (Illustration 27) are consid- 

 ered as the values at the close of the first fiscal year and 

 the beginning of the second. Accordingly, their use is that 

 previously described herein and presented in Illustrations 

 25 and 26. For example, under date of Feb. 29, 1916, 

 Cattle account would be credited with $1585 after taking 

 the preliminary trial balance. The debit would be re- 

 corded in Cattle account also, under the double lines after 

 closing. 



Livestock Inventory in Accounts. Illustration 28 

 shows accounts affected by inventory items. It is pre- 

 sented for the purpose of showing more clearly the relation 

 existing between the inventory record and the ledger ac- 

 counts. 



The Cattle account is selected as a fair representative of 

 the principles governing the several livestock accounts. 

 The inventory of $1446 on the debit side of the account 

 is posted from the opening journal entry on March 1, 1915, 

 as given on page 141. The figure was taken originally from 

 the "valuation for accounts" column of the inventory rec- 

 ord, Illustration 27, being the total value of cattle. The 

 inventory of $1585 on the credit side of Cattle account is 

 obtained directly from the same page of the inventory rec- 

 ord, but from the valuation column of Feb. 29, 1916, which 

 is one year later. The entries of May 20 and Nov. 1 are 

 assumed merely for illustrative purposes. 



Crop and Field Inventory in Accounts. The Corn ac- 

 count is selected as a representative type of product ac- 

 counts in Illustration 28. It is presented with the inven- 

 tory figures as shown in the inventory record on page 145 

 being $450 on March 1, 1915, and $425 at the close of the 

 fiscal year Feb. 29, 1916. The $450 at the beginning ap- 

 pears in the ledger account as a posting from the opening 

 entry as given on page 141. Ordinarily, however, it would 



