S10 FARM ACCOUNTING 



The 1915 Rent item is listed as a resource because it is- a de- 

 i'i in ii debit to represent rent paid in advance. It was paid by 

 a note or several notes, apparently, since the liability on Notes 

 Payable shows one in favor of the landlord W. E. Reed for 

 $1350. 



The amounts shown as resources opposite Fields Nos. 1, 3, 4 

 and 5 respectively represent an estimate of the amount of seed 

 and labor spent on them in preparation for the crops of the com- 

 ing season. The charge to Field No. 1 includes $90 rent tor 

 1914, when it lay fallow. 



Subject to the comments in the Note preceding this problem, 

 the transactions and operations for the year are stated below. 

 They are to be entered in the cash journal. 



Mar. 1. Distribute the rent over the several Field and other 

 lift <-ted on the following basis: Each Field and Pasture 

 account with $4.50 an acre; Swine with $4.50 an acre j> 

 for the buildin-.:; Household with $4.50 an acre for the areas 

 occupied by the irnrden, house and orchard plus $90 for the 

 dwelli t-ral Expense with $4.50 an acre for the barn- 



\anl: BOVMI "itli >!">: Cattle $10; Poult IA |5j K<|nipment Kx - 

 pense $5, and Corn $5, each for buildings occupied by the 

 properties itulicated by the account titles. 



Mar. 16. Sold 110 bushels soy beans at $2 a bushel, cash. 



Apr. 4. Sowed 80 bushels of oats selected as seed at $1. in 

 Fidd No. 4; also, in the same field, 8 bushels of red clover I 

 (Since the clover seed was purchased just before sowing, credit 

 < ash and debit Field No. 4 for its value.) 



Apr. (i. Sowed 80 bushels of wheat selected as seed at $2 in 

 Field No. _>. 



Apr. 18. Sold 160 bushels of barley for $112, cash. 



May 1. Planted 4 l / 2 bushels of corn (including wastage) at 

 $3.50 in Field No. 1. (This is an exception to the rule, in 

 crediting Corn account at the price of seed.) 



May 5. Planted 9 bushels of corn at $3.50 in Field No. 5a. 



July 1. Took 80 tons of timothy hay from Field No. 3. 

 (Make notation of quantity only in explanation columns of Hay 

 and Field No. 3 accounts.) 



Aug. 1. Threshed the wheat from Field No. 2. It measured 



