SPECIAL ACCOUNTS AND ENTRIES 213 



Mar. 1. Sold hogs for $100 cash. 



Mar. 1. Paid personal taxes, $39. 



Mar. 20. Paid for sundry household supplies, $28. 



Mar. 31. The household record shows the following commodi- 

 ties turned over to the house during January, February and 

 March: poultry, $4; eggs, $9.20; milk, $22. 



Mar. 31. During the three months, the household has sold 

 for cash part of the products as follows: eggs, $4; butter, $5. 



Apr. 1. Made a contract with Roy Wade similar to the one 

 of last year, except that he begins April 1 instead of May 1, 

 and is to receive $35 a month and his board, room and laundry, 

 and the use of a horse and buggy. 1 



Apr. 1. Sold some hay for $150 cash. 



Apr. 3. Bought millfeed for $30. 



Apr. 18. Paid for harness repairs $4 (Harness is part of the 

 equipment). 



Apr. 28. Paid horseshoeing bill of $2. 



Apr. 30. Credited Roy Wade with wages for April, $35. 



Apr. 30. The household values the board of hired man at $20 

 for the month of April. 



Note. On the last day of each month from May to November, 

 both inclusive, you are to make entries for the $35 wages credited 

 to Roy Wade and for the $20 board without being told to do so, 

 each time. 



May 8. Paid Roy Wade $5 on account. 



May 10. Paid for sundry repairs to equipment, $8. 



June 20. Paid cash for extra labor, $6. 



June 25. Paid Roy Wade $7 on account. 



June 30. The household record shows the following commodi- 

 ties turned over to the house during April, May and June : 

 poultry, $6; eggs, $18; milk, $35. 



theoretically, the value placed on the use of the horse and buggy 

 would be debited to Labor and credited to Miscellaneous Income or 

 to General Expense because this concession is equivalent to a recogni- 

 tion that labor is worth more than $35 plus $20 board. Mr. Fay, how- 

 ever, does not wish to consider the value of labor as increased by this 

 concession. 



