254 FARM ACCOUNTING 



of the fodder for the quantities shown in the feed record. 



Seed Account. One Seed account may be made to serve 

 for recording values of all classes of seed. The account is 

 used to show the value of seed on hand at any time, espe- 

 cially at the close of the year. 



It is charged with the fair market value of seed at the 

 time it is sorted from the regular crop, no matter whether 

 it is corn, oats, wheat, clover or other product. The proper 

 crop account is credited at that time. Seed account is 

 credited for the book value of seed used, the Field account 

 being charged. That is, if seed corn has been charged to 

 the Seed account at $3 a bushel at the time of selecting 

 seed, the Seed account is credited and the proper Field 

 account debited with $3 a bushel at the time of planting. 



If seed unused for the purpose intended is fed to live- 

 stock, the Seed account is credited and the appropriate 

 livestock account debited with the market price of the 

 product as feed and not as seed. This would naturally 

 leave a debit balance in Seed account after all the seed has 

 been used. Any balance remaining in the account may be 

 closed into General Expense whether the balance be a debit 

 or a credit. 



The Household and Farm Products. It has been stated 

 elsewhere that the Household should be charged with the 

 farm value * of farm products used. As a matter of practi- 

 cal application this statement might be modified to read 

 "the household should be charged with all milk and eggs 

 produced on the farm and with all garden expenses, and 

 with such other farm products as are used in the house. ' ' 



The exceptions made in the case of milk, eggs and gar- 

 den are explained best by a slight analysis of conditions. 

 In general they are made in order to reduce the detail 

 required in keeping track of small quantities used by the 

 household. 



1 Farm value means market price minus cost of marketing. 



