COST ACCOUNTING 297 



JULY 



fcxpense, 3; corn, 350; oats, 240, of which 100 hours were 

 worked by neighbors' horses; household, 22. 



AUGUST 



Cattle, 7; hogs, 4; expense, 3; corn, 54; oats, 345, of which 

 320 hours were worked by neighbors' horses; exchange labor, 

 200; household, 12. 



SEPTEMBER 



Expense, 24; oats, 28; exchange labor, 180; hay, 47; house- 

 hold, 11; corn, 15. 



OCTOBER 



Hogs, 28; expense, 25; corn, 244; household, 18. 



NOVEMBER 

 Cattle, 3; expense, 12; poultry, 8; corn, 316; household, 14. 



DECEMBER 

 Expense, 22; repairs, 7; poultry, 8; household, 14. 



INSTRUCTIONS FOR CLOSING 



(See also General Plan of Closing and Detailed Procedure 

 in Closing near the end of Chapter IX.) 



1. Post all entries from the cash journal to the ledger be- 

 fore framing journal entries from the yearly feed, labor and 

 horse labor records, but after entering the $600 for Fay's labor. 

 Allow enough space for the transactions of problem 2 below 

 which require the use of the same ledger accounts. 



2. Take a trial balance to test the accuracy of the work before 

 closing. 



3. Make a journal entry debiting the accounts named below 

 and crediting Rent to distribute the $500 rent over the several 

 farm elements, on a basis of the following percentages: House- 



