492 FARM MANAGEMENT 



In closing books at the end of the year, the following is 

 a good order to follow : 



Enter any accounts payable or receivable that are not yet re- 

 corded. 



Charge animals and credit crops with any hay, grain, straw, or 

 pasture obtained from the farm. 



Charge the personal account and credit crops and animals with 

 farm products used by the family. 



Charge labor with wood and farm products used by the hired- 

 men and credit proper accounts ; also charge with board 

 furnished in the family and credit personal. 



Credit personal account and charge labor with all unpaid labor 

 done by the farmer and his family. 



Credit animals with manure produced and charge to proper 

 accounts. 



Credit farm with use of buildings and charge personal account 

 for use of house, labor account for houses used by hired-men, 

 and animals and crops for use of barns. 



Charge crops and animals for use of land and credit farm. 



Charge the labor account and credit horses and equipment with 

 the time that horses and equipment worked for hired-men 

 at an estimated rate per hour. 



Find the cost of man labor and distribute according to hours spent 

 on each enterprise. Charge the enterprise and credit labor. 



Charge horses with the time that equipment worked for horses 

 at the estimated value. 



Enter the horse inventory. Charge horses and credit interest with 

 interest on the average of the inventories. 



Distribute the cost of horse labor the same as was done with the 

 labor account. In finding the cost of horse labor deduct the 

 hours that horses worked for labor or for themselves. 



Enter the equipment inventory, charge interest as in the horse 

 account, and distribute the equipment cost in proportion to 

 the number of hours that horses worked on each enterprise. 



Distribute or transfer any accounts of convenience, as with sup- 

 plies, fertilizer, etc. 



Enter all remaining inventories. 



Charge interest to remaining accounts where worth while. 



Balance all accounts. 



