BUSINESS MANAGEMENT 



329 



YEARLY BALANCE SHEET 



Explanation. As will be seen, this form is used to deter- 

 mine the total profit or loss, as the case may be, for the 

 year. The years 1920 and 1921, together with the amounts 

 as shown on this form have been used by way of illustration 

 to indicate the proper column wherein such amounts 

 should be placed, in order to secure the yearly balance. It 

 wiU be readily seen that by keeping an account by the use 

 of the preceding forms that this yearly balance sheet can 

 be summarized and totaled with but Httle effort and will 

 enable one to obtain a true statement as to the financial 

 standing of the business. 



January 1 has been indicated as the date of the inven- 

 tory. Should any other date, such as October 1 or 

 November 1, be used as the beginning of the poultry year, 

 the yearly balance and the inventory should be made at 

 that time. When the,,refurns from the flock are included 

 in the income tax^-statement, such returns must be made 

 not later than pwo and a half months after the close of the 

 year. If a period of 12 months, ending October 31, for 

 Instance, is regarded as the end of the poultry year, the 

 income tax statement must be filed not later than the 

 following January 15. 



