172 FARM ACCOUNTING 



20. Make suggestions concerning transactions with tractors, 

 shredders, threshing machines, and hay balers. 



30. Discuss the nature of debits and credits recorded in corn, 



oats and wheat accounts. 



31. What is the nature of the transactions requiring entries in 



the household account? 



32. Why is the household account such an important one in 



farm accounting? Compare the business of farming with 

 other classes of business in this respect. 



33. Why is labor account debited with the value of food and 



lodging given to hired help? 



34. Present two ways of making entries for labor of a permanent 



hired hand reviving board and lodging free, and drawing 

 amounts of cash from time to time as needed. 



35. How is labor performed by members of the household re- 



corded ? 



.'{(i. Discuss the entries to show correct costs when a member of 

 the household is paid a nominal amount in cash for his 

 labor, but not an amount which he is really worth. 



.'{?. Diseus.s the entries for feed Ix'ii'jht, when all used for the 

 same class of livestock. When used for several classes. 



:i s . How is commercial fertilizer recorded in the books? 



.'W. What is an inventory? What accounts are affected by in- 

 ventories? 



40. How are accounts affected by inventories? 



41. Which results in the showing of the larger gain in an ac- 



count, a large inventory >r M small inventory at the close 

 of the year? 



\-. Does the large or the small inventory in an account at the 

 beginning of a year result in the greater gain during 

 the year, other entries being the same? 



43. When an account is credited with the value of the inven- 

 tory at the close of the year what account is debited? 

 Discuss. 



It. Is the credit for inventory at the close of a period made 

 before or after taking the preliminary trial balance? Be- 

 fore or after the trial balance after closing? 



