COST ACCOUNTING 303 



Nov. 15. Sold poultry for $18 cash. 



Nov. 16. Donated $25 to Red Cross work. (General Ex- 

 pense). 



Dec. 1. Sold 400 bu. corn at $1.20 for cash. 



Dec. 2. Bought a half interest * in a self -feed corn sheller 

 for $42.50 cash. 



Dec. 15. Paid $250 to redeem note held by landlord due to- 

 day. 



Dec. 20. Paid Roy Wade cash to balance his account. 



Dec. 20. Paid $30 cash for household supplies. 



Dec. 31. The household record shows the following commodities 

 turned over to the house during October, November and Decem- 

 ber: poultry, $10; eggs, $12; milk, $30. 



Dec. 31. During the three months, the household has sold for 

 cash part of the products as follows: eggs, $3; butter, $13. 



Dec. 31. Mr. Fay places the value of his services as a laborer 

 at $600 for the year. 



The feed records kept during the year, when summarized into 

 the Feed Record for the year ended Dec. 31, 1917, give the fol- 

 lowing Total Values : 2 Charges to Animals : Horses, $574.90 ; 

 Cattle, $250.10; Hogs, $400.30; Poultry, $30. Credits to Crops 

 and Feed: Corn, $600.50; Hay, $310; Oats, $157.80; Wheat, 

 $87; Pasture, $58; Mill Feed, $42. (See closing instruction 7 

 at the end of the problem.) 



The monthly labor records have been summarized into the 

 Yearly Labor Record for the year ended Dec. 31, 1917, giving 

 the total hours chargeable against the various accounts as fol- 

 lows: Cattle, 480; hogs, 245; horses, 212; general expense, 290; 

 equipment expense, 164; poultry, 130 ; household, 190; corn. 

 1050, of which 1010 hours were worked by regular help and 



1 This requires a debit to Equipment account for only $42.50. If 

 the comparative inventory record were in use, the machine would be 

 entered as a matter of record, with proper notation to indicate the 

 other half -owner. 



"The total values for the year are given, instead of requiring the 

 student to compile the summarized table. These totals, however, have 

 been determined in the same way as the totals obtained by the student 

 in problem 1 above. 



