UNITED STATES DEPARTMENT OF AGRICULTURE 



"~-*k BULLETIN No. 985 $ 



Contribution from the Bureau of Markets and Crop Estimates 

 H. C. TAYLOR, Chief 



Washington, D. C. 



November 9, 1921 



A SYSTEM OF ACCOUNTING FOR COTTON 

 GINNERIES. 1 



• By 



A. V. Swarthoitt, Investigator in Market Business Practice, 



and 



J. A. Bexell, Formerly Assistant in Market Business Practice, now Dean, School of 



Commerce, Oregon Agricultural College, Corvallis, Greg. 



CONTENTS. 



Introduction: Page. 



Who can use the system 1 



Results of using the system 2 



Part I— Reports the manager needs: 



Balance sheet 3 



Income and expense statement ? 5 



Summary of operations 7 



Cost and income analysis 7 



Part II— The Records: 



What forms to use 8 



Description and use of forms , 8 



How the system works : 14 



Appendix: 



How to keep the necessary accounts, close the books at the end of the year, prepare the annual 



reports, etc 19 



WHO CAN USE THE SYSTEM. 



The system of accounting described in this bulletin will meet the 

 needs of cotton ginneries generally as they are operated in the cotton 

 belt of the United States. However, especial attention has been 

 given to the needs of custom ginneries, and no effort has been made 

 to consider the problems of ginneries on private plantations. Since 

 the latter do comparatively little work for the general public, they 

 were not included in the investigation, although there is little question 

 that they would find this system of accounting helpful. 



With no previous knowledge of bookkeeping whatever, practically 

 anyone can keep the records and accounts described in this bulletin. 



1 The authors desire to make acknowledgment to Dr. Lewis H. Haney for helpful suggestions and for 

 reading and criticism of the manuscript of this bulletin. 



55231°— 21— Bull. 985 1 



