18 ADDRESS. 



or to the barn account, at whatever he could have sold it for. After 

 the crop is cleared, he estimates the value of the field, making allow- 

 ance for whatever gain or loss in its condition, and crop-bearing capac- 

 ity may have occurred since the previous valuation, and the balance of 

 the account, shows what has been made or lost, from that section of 

 his farm. 



His wood-lot, he treats in the same manner ; starting with the cost 

 valuation, he charges the expense of clearing, thinning out, cutting and 

 hauling, even though he does it himself, and credits all cash received 

 for sales of wood or timber, and all wood cut for his own family use, 

 which he charges to family expense account at the current rate. True, 

 this is merely taking from one pocket, and putting into another, but he 

 is desirous of ascertaining the exact cost of every product, and if there 

 be aggregate gain, or loss, where it comes from, or goes to. Accord- 

 ingly, he treats for instance, wood taken for his own use, so far as the 

 wood-lot is concerned, precisely as though he had sold it to somebody 

 else ; so far as family expense account goes, just as if he harl bought 

 it of somebody else. At the close of the year he credits the value of 

 the wood-lot, making due allowance for wood cut on the one hand, and 

 the growth on the other, and the balance of the account, is the gain or 

 loss, as the case may be, arising from that portion of his farm. 



The barn account is charged with valuation and with every thing 

 that goes into it, hay, grain, straw &c. at what it is worth; at the time 

 of delivery, just as though it had been sold ; with all labor, taking care 

 of stock &c,, and all repairs upon buildings, even though done with 

 his own hands. It is credited with all sales of produce made from it, 

 with manure sold or delivered to various parts of the farm, (which 

 latter is at the same time charged to various sections or fields, at a 

 fair current price,) and with the valuation of the barn and contents at 

 the close of the fiscal year, which should be about the 1st of March. 

 The balance of this account, of course would represent the net cost of 

 whatever the animals had consumed, and should be charged lo their 

 account. 



The reason for charging the valuation at the commencement of the 

 year, and crediting it at the close, is to show in the account the depre- 

 ciation and repairs. For instance, a barn is valued at first at $1000. 

 It needs repairing, and you expend $250 in shingling ^c. It is 

 hardly fair to charge the whole of this to the repairs for the year of 

 its payment, as the barn is worth more for the expenditure. By charg- 

 ing, first the original value $1000, then the repairs $250, and at the 

 close of the year crediting a fair valuation, which under all the cir- 

 cumstances, improved as it is by the repairs, may be properly called 

 say $1200, you have a balance of $50, which very nearly represents 

 the depreciation and wear of the building. 



The stock account should be charged with the value of the animals 

 at the outset, and with cash paid for additions and for food, with bal- 

 ance of barn account as shown previously, and credited with sales of 



