COST ACCOUNTING 243 



ILLUSTRATION 51 

 JOURNAL ENTRY MADE FROM FEED RECORDS FEB. 28, 1918 



Cattle $130.00 



Hogs 200.00 



Horses 120.00 



Poultry 50.00 



Sheep 290.00 



790.00 



Corn $200.00 



Oats 100.00 



Wheat 40.00 



Hay 200.00 



Mill Feed 50.00 



Pasture 200.00 



790.00 



It is noticed that the journal entry is in balance as it 

 should be, that is, the sum of the debits is equal to the sum 

 of the credits. 



Totals may be posted direct from the feed record with- 

 out making journal entries first if the feed record is made 

 in permanent book form. If the direct posting method is 

 followed, care should always be exercised in balancing the 

 two records. That is, one should make sure that the sum 

 of all charges to livestock accounts is equal to the sum of 

 all credits to the feed and crop accounts. 



See Illustrative Problems for Chapters VIII and IX, at the 

 close of Chapter IX. 



REVIEW QUESTIONS 



1. What is meant by a cost system? 



2. What is cost accounting? 



3. State three fundamental points of comparison or difference 



between cost and general accounting. 



