282 FARM ACCOUNTING 



several accounts affected, being sure that the debits equal 

 the credits in each of the summaries before posting. When 

 a Hat or estimated hourly rate is not used for horse labor, 

 it is necessary to complete the posting from the Labor 

 Summary before calculating the value of the horse labor 

 per hour. 



10. Find the net charge to Building Expense account for 

 the year. Distribute this expense over the various farm 

 elements using the buildings to any considerable extt -nt. 

 This distribution is made rather roughly to apply to the 

 household, each class of livestock, corn, silage an<l equip- 

 ment. Post the entry. 



11. Find the net charge to Equipment Expense account 

 for the year, by referring to the account in the lc<lj. r and 

 considering inventories of miscellaneous supplies as per 

 Inventory Record. Distribute this expense over the vari- 

 ous farm elements by making proper apportionments in the 

 Horse Labor Summary as described under " Equipment 

 Expense" and in Illustration 53. After making these 

 entries, make sure that the debits and credits expressed are 

 equal ; then post them to the accounts indicated. 



12. Calculate the inventories of fertilizer, labor and 

 other charges to field accounts, which are to be carried 

 over to next year's operations Knter these in the field 

 accounts in the regular way. The resulting balance in each 

 field account is the cost of producing this year's crop on 

 that field. In order to transfer these costs of producinir 

 crops to the crop accounts, an entry is made in the money 

 columns, debiting the several crop accounts and crediting 

 the respective field accounts. The entries have pr-\i- 

 ously been made in the explanation columns at time of 

 harvest. (See also " Operation of Field Accounts" and 

 Illustration 52.) 



13. Examine all expense accounts. If a balance remains 

 in any of them after making proper entries for miscel- 



