332 FARM ACCOUNTING 



REVIEW QUESTIONS 



1. What is a farm plot? What is its purpose from an ac- 



counting viewpoint? 



2. State three reasons for keeping an account with each field in 



addition to one with each crop. 



3. With what amounts is a field account debited at the 1 



ning of a year? During a year? 



4. What items are recorded on the credit side of a field 



account? What are the debits made at the same time? 

 What does the balance of a field account show after in- 

 ventories are considered? 



5. Distinguish between production costs and harvesting . 



6. Describe the detailed operation of a Held aeeonnt. emplin- 



si/ing the time of making entries, and renmlin-.: of in- 

 ventories or deferred charges. 



7. When is a crop account debited? When credited? 



8. How is a crop inventory recorded? 



9. What does the balance of a crop account show after con- 



sidering inventories? 



10. Discuss the handling of the Silage account and the rea- 



sons supporting its use. 



11. What is the object of a Seed account? When and for 



what value is it debited? Credited? 



12. Discuss the theory supporting the entries for milk, eggs, gar- 



den and other products produced or used by the house- 

 hold. 



13. How is a pasture treated in the accounts? How does such 



treatment differ from that of other fields? Why? 



14. What use is made of the account called By-products? 



15. What are the two essential elements to consider in distribut- 



ing rent over various farm elements? 



16. When is the rent distributed? How is it distributed? 



17. What difference is there in the treatment of rent under the 



cash and share basis? 



18. How would you handle a transaction in which promissory 



notes were given for rent before the beginning of the 

 year to which they apply? 



