COST ACCOUNTING 



309 



His resources and liabilities are ascertained by appraisal as 

 follows : 



LIST OF RESOURCES AND LIABILITIES, MAR. 1, 1915. C. P. MAY 



Resources Liabilities 



Cash $191 Notes Payable: 



Horses (10) 1,240 To W. E. Reed $1,350 



Cattle (14) 500 To J. L. Mix 300 1,650 



Swine (27) 400 



Poultry (120) 60 C. P. May, Capital In- 



Corn (580 bu.) 280 vestment $4,526 



Oats (420 bu.) . . 120 



Barley (180 bu.) 90 



Soy Beans (HObu.).... 150 



Hay (Timothy, 18 tons) 130 



Straw (15 tons) 30 



Silage (75 tons) 300 



Seed (Oats, 80 bu. @ 35c; 



wheat, 80 bu. @ 65c) . . 80 



Equipment 680 



1915 Rent 1,350 



Field No. 1 (Rent $90; 



Labor $5) 95 



Field No. 3 (Seed) 40 



Field No. 4 (Labor $10; 



Horse L. $10) 20 



Field No. 5 (Labor $10; 



Horse L. $10) 20 



Household Furnishings . . 400 



$6,176 



$6,176 



Make an entry in the cash journal to open the books. Ac- 

 counts are to be kept for each item listed as resources and lia- 

 bilities, except that Household Furnishings are to be debited to 

 Household account; and only one Notes Payable account is to 

 be used. 



