OCR Text |
Show KEEP ACCOUNT OF BUSINESS Essential to Success and Highest Efficiency Ef-ficiency of Farm Enumerate Profits and Losses. iBy . H. BENTON.) Accounts on a farm are essential to success and the highest efficiency. They must be simple and yet accurate enough to let the farmer know how much he is making or losing, and where the gains or losses occur. These two things may be satisfactorily determined deter-mined by keeping the following records: rec-ords: An inventory at the beginning and end of the year. A record of all farm expenses and receipts. A record of all the man and horse labor used on the farm. The inventory should be a list of the farm property with the actual values of each item. It should include land, buildings, machinery and equipment, equip-ment, live stock, feeds and supplies, and cash belonging to the farm business. busi-ness. The farm expenses and receipts should be distributed among the individual indi-vidual enterprises with which accounts ac-counts are kept, as cows, swine, horses, wheat, oats, corn, etc. Receipts Re-ceipts and expenses which do not fall under afiy of the individual enterprises enter-prises may be placed under personal and miscellaneous accounts. The crops used for feed are both an ex-.pense ex-.pense and a receipt. At the end of the year each enterprise enter-prise is charged with the labor used. To determine the rates at which man or horse labor should be charged, divide di-vide the total cost by the total number of hours. The difference between the receipts and the evpenses (omitting household or ii".--nioI expenses), plus or minus the tl.nVrepee between the inventories at the beginning and the end of the year will be a total gain or loss. Responsibility of Banker. A resolution declaring the responsi bllity of the banker to aid agriculture and country lire, and the importance that he shall co-operate by organiza tion and individually with all move ments looking to a better agriculture has been adopted by the Americar Bat. Iters' association by its executive council. The lb. 000 members of the association will receive a copy of thh rfeaaiution. |