308 FARM ACCOUNTING 



Although in practice the Comparative Inventory Record is kept 

 with a cost system in the same way as under the general ac- 

 counting system, its use is not required in these cost problems. 



The details are reduced somewhat, also, by the method of pre- 

 senting data from the feed, labor and horse labor words. The 

 abrogate amounts for the year are stated in the problems. The 

 figures so stated, it should be noted, are taken from the monthly 

 feed, labor and horse labor records, which the student is not re- 

 quired to prepare in regular form for the purpose of these 

 problems. 



With the simplifications noted above, there is little use for 

 many special columns in the cash journal. Accordingly it is re- 

 duced to the simplest type. 



All notations as to quantities and prices used in conn< 

 with fields, crops and livestock are to be carried into the ledger 

 accounts for use in the problems of Chapter X. 



3. (Work on this problem should not be started until after 

 reading carefully the Note abw 



Mr. C. P. May rents a farm of -J7i> acres on a ea-^li basis for 

 $1350 a year, from W. E. Reed. You are to keep the accounts 

 of his operations on a cost basis from the beginning of the 

 year Mar. 1, 1 !)!'.. 



The farm plot at that time shows that the farm is divided into 

 the following areas: 



Field No. 1 20 acres 



Field No. 2 40 acres 



Field No. 3 60 acres 



Field No. 4 40 acres 



Field No. 5 .40 acres 



Field No. 5a 40 acres 



Field No. 6 (Pasture) 20 acres 



Hog Lot 2 acres 



Garden and House Lot 2 acres 



Orchard 2 acres 



Barn Yard . . 4 acres 



Total.. . 270 acres 



