32 BULLETIN 811, U. S. DEPARTMENT OF AGRICULTURE. 
Insurance premiums unexpired at the end 
of the period List by policy number, date, propeity 
covered, time, and amount of premium 
unexpired. 
Unused stationery and printing List by quantity, kind, and value. 
Accrued salaries and wages List by name, time, and wage rate. 
Accrued rent and taxes List by name, time, and rate. 
Accrued interest on notes payable List by name of payee, date, time to run, 
interest rate, amount of note. 
Great care must be exercised in inventorying grain and merchandise, 
and the liability for stored grain as the value of the income and ex- 
pense statement and the balance sheet depend upon the accuracy of 
the inventories. This work should always be conducted, or at least 
directly supervised, by a competent committee of the board of 
directors. 
When the above schedules have been completed, and the extensions made and 
verified, the following Journal entries should be constructed: 
Debit. (1) Credit. 
000 Inventory account 
Wheat account 000 
Oats account 000 
Barley account 000 
Rye account 000 
Flax account 000 
Corn account 000 
To plan the inventories on the books as an asset. (This is a neeessary step in clos- 
ing the various grain accounts.) 
Debit. (2) Credits. 
000 Inventory account 
Flour account 000 
Fuel account 000 
Coal account 000 
To place the inventories on the books as an asset. 
Debit. (3) Credit. 
000 Shrinkage and Scale Loss 
Wheat 000 
Oats 000 
Barley 000 
Eye 000 
Flax 000 
Corn 000 
To account for all the grain received into the elevator and to show this loss as an 
expense of operation. 
Debit. (4) Credit. 
000 Shrinkage and Scale Loss 
Flour 000 
Feed 000 
Coal 000 
