BOOKKEEPING FOR GRAIN ELEVATORS. 
37 
Fixed Assets: 
Land - 
Buildings - 
Machinery and equip- 
ment - 
Office furniture and 
equipment - 
Less — 
Reserves for 
ciation 
depre- 
Total fixed as- 
sets 
Accounts paid in ad- 
vance: 
Prepaid insurance - 
Printing and station- 
ery inventory - 
Other Assets: 
Railroad claims . . 
Less — 
Reserve for loss on 
railroad claims... - 
Total assets. 
Fixed Liabilities: 
• Notes secured by 
mortgages - 
Reserves: 
Reserve for sinking 
fund - 
NET WORTH. 
Capital stock — 
Surplus and undivided 
profits — 
Less deficit . 
Total 
INCOME AND EXPENSE STATEMENT. 
The Income and Expense Statement is an itemized statement of the 
entries made to the Loss and Gain account, arranged in such a way 
as to set forth clearly the results of the operations of the periods 
involved. 
The following form of Income and Expense Statement will be found 
convenient for exhibiting the operations of the elevator for either a 
monthly or a yearly period. Wherever possible a monthly state- 
ment of income and expense is advised. 
In the past no standard form of Income and Expense Statement has 
been used; therefore, this form should fill a very definite need. By 
its use not only the stockholders and directors may follow the details 
of the business, but a ready comparison may be made between the 
costs of operation of various elevators. 
In preparing this statement the amounts shown as sales and pur- 
chases should be net figures. That is, merchandise returned by the 
buyer should be deducted from the total sales, and merchandise 
returned by the company to the concern from whom it was pur- 
chased should be deducted from the total purchases. Profit on 
hedges should be added to sales and loss on hedges should be added 
to purchases in the respective grain accounts. 
