COST ACCOUNTING 319 



tons at $4.95 (cost), $421.30; seed, 15 bu. corn at 63c, plus 

 cost of sorting ($1.75), a total of $11.20, being nearly 75c per 

 bushel; household furnishings, $400. 



Note. Do not neglect to bring down balances in the Cash and 

 Equipment accounts; nor to close, among others, the balances 

 of Soy Beans, Barley, Field No. 6 (Pasture), Silo Commis- 

 sion, Interest on Investment and By-products into Loss and Gain 

 account. The 1916 Rent account is a deferred debit to be con- 

 sidered as a resource. 



INSTRUCTIONS AFTER CLOSING 



(a) Take a trial balance which will serve also as a State- 

 ment of Resources and Liabilities. 



(b) Study the accounts. What do they tell you about the 

 year's operations? 



(c) Preserve all .books, accounts and records for use in the 

 two problems following which are continuations of this one; 

 and for use in the problems of Chapter X which call for further 

 analysis of these accounts. 



4. You are to keep the books for C. P. May for the year 

 ended Feb. 28, 1917, following the same general principles used 

 in the preceding year as in problem 3 above. 



Mar. 1, 1916. Distribute the rent over the several Field and 

 other accounts affected on the same basis as at the beginning of 

 the preceding year. (See problem 3 above.) 



,Apr. 6. Sowed 105 bu. of oats at 50c a bushel in field No. 3; 

 also, in the same field, 12 bushels of red clover at $9. (The 

 clover seed was purchased for cash at time of sowing.) 



Apr. 8. Sowed 70 bushels of wheat at 90c a bushel in field 

 No. 2. 



May 2. Planted 4 bushels of seed corn at $3.40 in field 

 No. 1. 



May 6. Planted 7 l / 2 bushels of seed corn at $3.40 in field 

 No. 5. 



June 4. Paid for 42 bushels of medium yellow soy beans at 

 $2.25, and planted them in field No. 5a. 



