1908.] 



Farm Accounts. 



403 



his book-keeping, and the greater the number of his accounts, 

 the more readily will he get at the results of his farming. No 

 accounts other than these, and not necessarily all of them, 

 must appear in the profit and loss account. Subsidiary 

 accounts will have to be opened in the ledger from time to 

 time, but sooner or later their balances will be transferred to 

 one or more of the foregoing. 



Live Stock Accounts * — At the beginning of the year each of 

 the live stock accounts must be debited with the value of the 

 stock falling under that particular heading. As the year goes 

 on, each account must be debited further with it share of (a) 

 manual labour, (b) horse labour, (c) rent and rates, (d) grazing, 

 (e) foods, both home-grown and purchased, (/) establishment 

 expenses, and any other charges and expenses properly inccurred 

 by each account. Each account must be credited with (a) 

 the proceeds of stock sold, (b) the value of stock transferred 

 to other accounts. f (c) the valuation of stock remaining at the 

 end of the year, (d) the manurial residues of foods consumed, 

 and with any other receipts. By balancing accounts thus kept, 

 at the end of the year, the true profit or loss on each is ascertained. 



Arable Land. — At the beginning of the year this account is 

 debited with (a) cultivations done, seed sown, and manures 

 applied for the coming crops, (b) unexhausted manures. During 

 the year it will be debited further with (c) all manual and horse 

 labour expended on preparation for sowing, after cultivation, 

 securing and marketing the crops, (d) rent and rates, (e) estab- 

 lishment expenses, and any other charges and expenses properly 

 incurred. The account must be credited with (a) the proceeds 

 of corn and other crops sold, (b) the value of corn fed to stock, 

 (c) the value of seeds hay, and straw used for fodder, (straw 

 used for litter may possibly be ignored, since it comes back 



* There is no account for horses because it is assumed that only working horses 

 are kept, and the cost of their labour will have to be charged to the accounts for 

 which the work is done. Where horses are bred, an account would be opened under 

 the heading of young horses, and to this would be charged all expenses from foaling 

 until the time when the young stock is sold or added to the working teams. 



t There is, of course, a continual transference of stock from one account to another. 

 Thus, where Ihe calves are weaned, the breeding stock account is credited, ancf the 

 store stock account debited, with their value. When the heifers come into the herd, 

 or when steers are put up to fat, the store stock account is credited and the breeding 

 stock account or the feeding stock account, as the case may be, is debited. Similarly 

 for sheep and pigs. Bulls, rams, and boars are, of course, charged to breeding stock 

 accounts. 



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