CHAPTER IV 



THE LEDGER 



HAVING made the original entries in the work 

 reports and blotter, in double-entry form, the 

 ledger accounts may now be opened. 



As in Chapter I, the first step in starting a 

 farm account is the taking of an inventory in 

 detail of the personal property, as found on page 

 9. Since one detailed inventory has already been 

 given, it will be necessary only to give a summary 

 similar to the one found on a preceding page. 



Note, however, that household account is left out 

 in the following examples, since if details were 

 entered into it would greatly increase the number 

 of items and tend to confuse the productive with 

 the personal and non-productive accounts. 



SUMMARY OF INVENTORY TAKEN MAY 1, 1900 (see p. 23) 



Teams $628 00 



Live stock 492 00 



Farm tools 408 50 



Farm products 315 00 



Bills receivable 539 25 



Cash on hand 375 00 



$2,757 75 



Bills payable $107 00 



Net assets 2,650 75 $2,757 75 



(53) 



