76 The Farmer's Business Handbook 



GAIN AND Loss 



The accounts with Teams and Live Stock require 

 only a little explanation. It may be said, however, 

 that the last inventory is supposed to set forth 

 not only the value of the animals on hand, but 

 also a part of the value of some of the food that 

 remains unused, which was charged up to these 

 two accounts and credited to Hay Field, Corn Field 

 and Oat Field. It usually transpires that some of 

 the hay or grain which has been charged to Teams 

 or Live Stock is yet on hand when the inventory 

 is taken in the spring, in which case it is inven- 

 toried the same as the animals, and the value of 

 such products is added to the value of the ani- 

 mals. It should be noticed, too, that at the 

 beginning of the year the amount of the inven- 

 tory of teams was entered as a debit charge 

 against them; therefore, the sum total of the 

 values on hand at the close of the year should 

 be credited to teams. All other accounts which 

 have inventories should be treated in like manner. 



If hay, grain and the like have not been sold 



