FARM ACCOUNTING 31 



SUMMARIES MARCH 31 



Products: 340 gal. milk @ 16 cts., 507 eggs @ 20 cts. per doz., 6 hogs, 1320 lb. @ 

 $6.90. 



Chattels Feed: 1 ton prairie hay @ $4, y^ ton clover @ $7.50, 15 bu. corn @ 50 cts., 

 10 bu. oats @ 35 cts. 



Dairy Feed: 800 lb. mill feed @ $1.05, 10 bu. oats @ 35 cts., 12 bu. corn @ 50 cts., 

 iy 3 ton clover @ $7.50, sundry feed @ $1.50. 



Team Feed: 1 ton timothy @ $8, ^ ton prairie @ $1, 24 bu. corn @ 50 cts., 30 bu. 

 oats @ 35 cts., sundry feed $1.50. 



Hog Feed: 30 bu. corn @ 50 cts., 20 bu. oats @ 35 cts., 310 gal. skim milk @ 5 cts., 

 10 bu. potatoes @ 30 cts. 



Poultry Feed: 3 bu. corn @ 50 cts., 3 bu. oats @ 35 cts., 12 hd. cabbage @ 5 cts., 2 

 bu. potatoes @ 30 cts. 



Labor Charge: E. A. Atkinson, personal, wages $60, board of help $15; E. P. Johnson 

 wages $30. 



Labor Distribution: Mdse. $16.60, Real Estate $22.20, Dairy $12.10, Teams $16.80, 

 Hogs $7.81, Poultry $5.69, Clover Crop $4, Oats Crop $29.50, Wheat Crop $6.50. 



Team Use Distribution: Mdse. $17.80, Real Estate $33.49, 1st year Clover Crop $7, 

 Oats Crop $42.80, Wheat Crop $8.40. 



Journalize, post and take trial balance. 



QUESTIONS 



1. How much is the cash balance? 



2. What is the value of feed used in March ?• 



. 3. Name five items other than labor or team use that have been charged to Real Estate 

 account. 



4. Is the tendency of Real Estate account toward an exhibit of 5% profit at the end of 

 the year ? 



5. How does the product of dairy for March compare with that for February? 



6. Why are field crops charged with ground rent ? 



7. What three distinct interests are involved in owning and operating a farm? 



8. Why are the gains from the use of Real Estate placed at a moderate figure ? 



9. What accounts are used to represent the operations in farm production? 

 10. How is the Merchandise account used? 



APRIL 



Apr. 1. Jonas Overburg returns to work. He is to receive $25 per month and board 

 from this date. (Ledger memo.) 



Bought for cash a bill of special fertilizer for garden $31.70. (Special fertilizer should 

 be charged to the department to which it is applied.) 



SUMMARIES APRIL 30 



Merchandise Sales: Dairy and poultry products have been sold to E. A. Atkinson, per- 

 sonal, on acct, $8.70; for cash $22.40. (Credit Mdse.) 



Remark. — The student will note that through the spring and summer season the sales will be numerous 

 but small, as it is planned to deliver dairy and poultry products, garden truck and small fruit. Hence it is more 

 convenient to enter the detailed description of sales in the sales summary book, rather than the journal. A 

 report of totals is journalized at the end of the month when cash receipts are entered as one item. 



Products: Dairy $32.40, Poultry $9.89. 



Seed: Used for Garden amounting to $7.30, for Potato Crop 85 bu. potatoes @ 80 

 cts, for Corn Crop 6^ bu. corn @ $1. (Credit Mdse.) 



Feed: Chattels $15.80, Dairy $24.50, -Teams $39.18, Hogs $56.80, Poultry $3.90. 

 (Credit Mdse.) 



Labor Charge: E. A. Atkinson wages $60 and board of hands $30, E. P. Johnson 

 wages $30, Jonas Overburg wages $25. s 



Labor Distribution: Mdse. $4.80, Real Estate $8.32, Chattels $1.30, Dairy $13.50, 

 Teams $15.60, Hogs $8.10, Poultry $2.30, Orchard $3, Small Fruit $6.20, Garden $19, 

 Potato Crop $8, Corn Crop $33.40. 



