SPECIAL ACCOUNTS AND ENTRIES 165 



those indicated in the transactions since Jan. 31, 1917, as having 

 been sold. The articles of equipment purchased during the year 

 must be considered in the Inventory Record. 



Livestock Inventory: Cattle: 21 milch cows at $60; 7 calves 

 at $28; 3 two-year-olds at $35. Swine: 1 boar, $50; 20 sows at 

 $37; 30 pigs at $15. Horses: 13 at $150; 3 colts at $85. Poul- 

 try: 90 chickens, all kinds, averaging $0.90 each; 8 turkeys, 

 averaging $1.70 each. 



Products Inventory: 700 bushels corn at $1.40; 300 bushels 

 oats at $0.45; 12 tons timothy hay at $12; 20 tons silage at $4; 

 15 tons straw at $3.90. 



Miscellaneous Supplies Inventory: 2 reels barbed wire for re- 

 pairs to fences at $4.50; ^4 barrel machine oil, $3.75. 



Household Inventory: Furnishings complete, valued at $900. 



3. On April 1, 1916, Mr. John Jones, proprietor of the Lone 

 Tree Farm, takes an inventory of his farm possessions; and 

 after ascertaining his wealth as valued in the inventory decides 

 to keep accounts of his transactions in a systematic way. 



He accordingly provides himself with a cash journal and 

 ledger. Cash-journal columns are used as follows: Household 

 Dr., Ed Wise Dr., Cash Dr., Sundry Dr., Sundry Cr., Cash Cr., 

 Ed. Wise Cr. 



You are asked to keep the books for him, recording all the 

 transactions to the best of your ability; and posting them to 

 the ledger under the proper account titles. The keeping of the 

 inventory record book is omitted. 



The inventory taken, April 1, 1916, contains the following 

 figures: Land, $15,000; buildings, $3000; horses, $470; cattle, 

 $70; hogs, $1000; sheep, $500; corn, $319.55; potatoes, $2.70; 

 clover hay, $69; seed corn, $32.20; mill feed, $25.86; equipment, 

 $739; cash, 413; household furnishings, $700. 



Since he does not raise oats, any oats he buys are to be con- 

 sidered as feed. 



The transactions are as follows: 



April 8. He receives a money order for $15 from Wm. George 

 for seed corn, which is shipped by freight. 



April 9. Ships seed corn to J. Green, having received $28 in 

 payment of same, today. 



