14 FARM ACCOUNTING 



Notice that he spent 4 hr. self and 2 hr. team in timber getting out wood ; 3 hr. with 

 t^am in delivery of merchandise ; 2 hr. in dairy work ; J / 2 hr. in care of hogs ; y 2 hr. in care 

 of teams; 24 gal. milk was taken, 17 eggs gathered, and ]/ 2 cord of wood was brought up. 



The reverse side of the card shows that he took to market and sold hay for cash $12, 

 he delivered 18 lb. butter fat to creamery worth today 24c per lb., and brought back 1000 lb. 

 shorts for cow feed worth $1.05 per cwt. 



ROUTINE ENTRIES 



Routine entries in farm books are conveniently made daily, weekly, or monthly. The 

 summaries from these entries should be made on the last day of the month. These will be 

 illustrated as soon as sufficient memoranda is gathered. Whatever the interval decided on, 

 the time selected should be reserved for that purpose, so that the habit of making the entries 

 at an appointed time may be formed. 



EMPLOYEES' LABOR 



In this set labor will be computed at a certain rate per month including board or $15 

 per month higher without board. The monthly wage plus board will be divided by 250 to 

 give the value of labor by the hour. Thus $30 wages + $15 board = $45 -r- 250 = 18 cts. 

 per hour. The owner of the farm is credited in personal account with the board of employees 

 and the labor account is charged for the same. 



The following is the list of persons receiving credit for labor beginning Jan. 1, 1911 : 



E. A. Atkinson, Manager, $60 per month. Board not considered. Time to be distributed 

 at 24c per hour. 



E. P. Johnson, $30 per month and board. Time to be distributed at 18c per hour. En- 

 gaged for one year to Dec. 31, 1911. 



Jonas Overburg, $20 per month and board. Time distributed at 14 cts. per hour. En- 

 gaged by the month. 



Open ledger accounts with Johnson and Overburg and write across the ledger the memo- 

 randa pertaining to each. 



Team use, including horses, vehicles, and machinery, is to be distributed at 20 cts. per 

 hour. 



When the daily reports of time and product are handed in, it is the bookkeeper's place to 

 extend the proper prices opposite each item and make entries in the summary sheets as before 

 explained. These summary sheets are footed monthly and charges are made to the depart- 

 ment accounts, and the totals are credited to Labor and Teams. 



Entries of business transactions found on the reverse side of the report card should be 

 made in the journal. 



The payments of money in currency or by check are not distinguished in this set, for the 

 reason that the accounting is not affected by such distinctions. The monthly cash balance as 

 shown in the ledger is reconciled with cash on hand and in the bank as in any other business. 



In the month of January following, the student is expected to make out the daily report 

 cards of Atkinson, Johnson and Overburg, as they should make them, and then, as book- 

 keeper, record them in the blank books. 



MEMORANDA FOR THE REPORT CARDS 

 JANUARY 1 



E. A. Atkinson spent 1 hr. in care of hogs. 



Date a report card "Jan. 1, 19 — ,'' fill in the name "E. A. Atkinson," and enter "1" opposite Hogs on 

 card in the column headed man. Do not fill in the amount. Place the card away for entry in the books 

 Saturday, Jan. 7. 



E. P. Johnson spent 4 hr. in dairy work. The milking consisted of 27 gallons. 



Date and fill E. P. Johnson's card, placing the number of hours after Dairy and the number of gallons 

 in day's milking after Product. Place the card with E. A. Atkinson's card for entry next Saturday. 



Jonas Overburg spent 2 hr. in care of poultry and 2 hr. in care of teams. He gathered 

 30 eggs. 



Prepare Overburg's ticket and place his card with the others of Jan. 1. 



Hereafter in January, prepare tickets for all hands from the memoranda and place the 

 tickets in the package for entry at the close of the week. 



