COST ACCOUNTING 235 



the exchange labor relations with each of the neighbors, 

 but merely with all of them considered together. If one 

 wants to find out whether he is giving more labor than 

 he receives from any specific neighbor, he can keep a 

 memorandum of the number of hours exchanged between 

 himself and the neighbor. Such a notation would not af- 

 fect the keeping of the Exchange Labor account in any 

 way. 



Recording Exchange Labor. The Entries in the Ex- 

 change Labor account come from the Labor record and the 

 Horse Labor record. In these two records, all debits and 

 credits to Exchange Labor account have their origin. The 

 debits are expressed in the same way that debits are ex- 

 pressed for work performed on the farm. The credits are 

 expressed from time to time by some distinguishing mark 

 to indicate the specific labor performed by the neighbors. 



The operation of these original entries for debits and 

 credits to Exchange Labor is represented in Illustrations 

 46 and 47. 



Illustration 46 represents a labor record for a month in 

 which we worked for neighbors and neighbors worked for 

 us. It shows that on July 1, our neighbors worked 40 

 hours in field No. 1, while the regularly employed men (pro- 

 prietor or hired man, or both) worked 16 hours in the same 

 field. On July 2, our neighbors worked 42 hours in field 

 No. 1, while the regular men worked 16 hours in the field. 

 These facts are shown in the column headed Field No. 1. 

 The number of .hours worked in that field by all classes 

 of laborers on July 1 was 56 and on July 2 was 58. The 

 40 and 42 hours worked by the neighbors are recorded in 

 parentheses merely as a means of identification, so that 

 they may be kept separate throughout the month and year. 

 For this reason, the totals, both vertical and horizontal, 

 show within parentheses the hours worked by the neigh- 



