poe Side of Farming \

PART I FARM RECORDS

py a2 "ae BEXELE A. M:,

y DEAN SCHOOL OF COMMERCE OREGON AGRICULTURAL COLLEGE

SECOND EDITION

Oregon Agricultural Press ’ Corvallis, Oregon 1911

Ruled Blank Books

With printed headings may be obtained from the College Bookstore, Corvallis, Oregon

By trees sfer

APR 29 1915

CHAPTER

I.

i. iid. IV. ie VI. VL, VIII.

CONTENTS

PART I

PAGE |bahin2o6 DTCL(0) 2) 689s ae eee nna < ore eae en Begs 7 Objects and Methods of Bookkeeping...... 9 Single Hntry-Harm Accounts ..-.......¢: 11 ID YON) CIES) UT Cea Gah keer en eae 21 ELQusenOld AcCOUMIGis cacats cls ssn ees 32 Lhe chmomale Statement se. . iio: ts c ac ees 37 Copimat Prodiaiot fr34 1025 2 oe Soke 41

Special Records........ ee ee 46

The College Bulletins are sent free on request. (Questions on any phase of Zhe Business Side of karming will be cheerfully answered. Address Prof. J. A. Bexell, Corvallis, Oregon.

This desk is provided with a fire-proof safe, combination lock, with ample capacity for valuable records. See page 46.

THE FARMER’S DESK.

CHAPTER I INTRODUCTORY

It is a truism to say that the financial side of farming is of the utmost importance. But the fact remains that this side of the world’s greatest industry is almost entirely neglected by both the farmer and the schools. Professor Bailey says on this subject: “In visiting practically every farm in one of the counties of the state (N. Y.) we did not find one man who knew how much it cost him to produce milk or raise any of his crops.”

Prosperity of the Farmer

The Secretary of Agriculture, in recent Year Books, points out the remarkable prosperity of the farmer; that the export of farm products is vastly in excess of all other exports com- bined; that a million agricultural debtors have been trans- formed during the last ten years into the same number of surplus depositors; that, ‘“‘contrary to his reputation, the farmer is a great organizer, and that he has achieved remark- able and enormous successes in many lines of economic co- operation in which the people of other occupations have either made no beginning at all or have nearly if not completely failed.” He points out that most farmers live better than the average merchant or mechanic.

Causes of Success

It is doubtless true that the farmer is becoming a factor to be reckoned with in the business world; that the average farmer knows vastly more about scientific farming than his father did; he understands more thoroughly the value of proper cultivation, of fertilization, of rotation of crops, and of diversified farming; but it cannot be said that he owes his success to improved business methods. He has been suc- cessful, rather, in spite of his ignorance in this respect, and because of the lavish generosity of Mother Nature.

Two Phases of Farming

The business of farming assumes two distinct phases: the productive phase and the exchange phase. The one aims to

8 THE BUSINESS SIDE OF FARMING

extract the treasures from the soil; the other, to place them in the hands of the consumer. It is important not only to raise abundant crops, but also to sell the products to advantage.

Importance of the Exchange Phase

The importance of the exchange phase is often lost sight of. A farm may be forced to yield to its maximum capacity, labor may be managed properly and waste reduced to a minimum; and yet the net result may be a loss at the end of the year. As a general economic proposition, it might be said that large crops often result in serious loss to society as a whole. If the net value to the consumer is less than the labor and capital expended on the crop, society is the loser by the difference. Hence the importance of a thorough understanding by the farmer as well as by the merchant and manufacturer of the laws and methods of exchange or commerce.

Farming a Paying Business

That farming is a science has been emphasized so much that the fact that it is also a business is often lost sight of. It is a real business, and one which pays the United States close to eight billion dollars annually. It has been demonstrated re- peatedly that no legitimate business pays better than farming. It may be a little more up-hill work at the start, since most farmers begin business with small capital, but it is incompar- ably safer in the long run, and will insure a competence for old age with greater certainty than any other occupation. But let it ever be borne in mind that the condition for success is that farming must be conducted on business principles.

FARM RECORDS 9

CHAPTER II OBJECTS AND METHODS OF BOOKKEEPING

Accurate records and accounts are absolutely necessary in the management of every business enterprise, great or small. No business can be successful in the long run unless its con- dition can be determined at any time, and no conservative business man will fail to prepare a financial statement at the end of his fiscal year. He must determine how he stands, not only with others, but with himself.

Object of Keeping Accounts

One object of keeping accounts is to assist in accumulating property. Another important object is to record a continuous history of business transactions for future guidance. Not only is this profitable, but it is a source of real pleasure and satisfaction to know our standing with those with whom we deal as well as the profits and losses in our business enter- prises.

What the Records Should Show

A complete system of farm records should enable the farmer to tell at any time how his business stands with himself and others; the cost of production of staple crops and live stock and the periodical results of both the productive and the ex- change phase of his operations. The records should also show personal and household expenses, and, finally, a comprehensive history of the various phases of the enterprise, including plats of crop rotation, fertilizing, etc.

Difficulties of Farm Bookkeeping

Numerous systems of farm bokkeeping have been proposed, but the trouble with them all is that they are either too com- plicated or altogether unpractical. Professor Bailey says: “The entire subject of farm accounting must be attacked in anew way. The ordinary bookkeeping will not apply.” The reason is obvious... Farming is a much more complicated busi- ness than most people suppose. A farmer is both a producer and a dealer. He needs financial records as complete as the

10 THE BUSINESS SIDE OF FARMING

average merchant and cost records as accurate as those of the manufacturer. But the records must be adapted to the busi- ness in hand. ‘The ordinary bookkeeping will not apply.” The farmer is usually a very busy man. His chief difficulty is neither ignorance nor indolence. He has little time for fancy bookkeeping and still less for ‘red tape.’’ What he wants is a plain, simple, straightforward history of his busi- ness, so arranged and classified as to require the minimum effort to keep it up. It may be interesting for his children to learn the conventional use of red ink, rulings, closing of books, the intricacies of journalizing, etc., but all this is not necessary to a proper understanding of farm bookkeeping.

Methods of Bookkeeping

In the following pages I suggest two methods of farm book- keeping whereby the yearly profit or loss may be determined and compared from year to year. The first is extremely simple Single Entry, while the second method is a comprehen- sive, but very simple, Modified Double Entry, by which the fi- nancial standing, the cost of production, profits and losses, etc., can be ascertained at any time. Any farmer with average intelligence will be able to master either method with small expenditure of time and labor.

ALPHABETICAL FILE

FARM RECORDS abl

CHAPTER III SINGLE ENTRY

The Day Book

The most important record in this method of bookkeeping is the Day Book, or what might properly be called the History of the Farm. This should be written in the form of a diary, without attempting a close classification of the entries. Al- ways bear in mind, however, that it is safer to give too much rather than too little information in the records. The Day Book should contain any memoranda which might prove valu- able for future reference. Conditions of the weather, time of planting, breeding, division of fields, sales, purchases, loans, attendance at conventions, valuable recipes, etc., are proper subjects for entry. Though it is advisable to keep the book as neat as possible, it is unnecessary to spend much time for that purpose. It is more convenient to jot down items in lead pen- cil as they come along, and then, as time allows, classify them under their respective heads.

The Day Book and Cash Book Combined

In the form on page 13, the Day Book and Cash Book are combined. The ruling is that of an ordinary stock Day Book. In the left-hand column is entered all sums received and in the right-hand column all payments.

While the combined Day Book and Cash Book has the advan- tage of extreme simplicity, it is often more satisfactory to de- vote a part of the Day Book, or a separate book, exclusively to cash transactions. Where this plan is followed, it is un- necessary to record all the Cash items in the Day Book. The left-hand page is used for cash receipts and the opposite page for payments.

Bill and Receipt File

A very important part of the farm records is the Bill and Receipt File. A part of the Day Book can be devoted to that purpose, but it is better to provide a separate book. In it should be securely pasted all bills for machinery, implements,

THE BUSINESS SIDE OF FARMING

OPENING ENTRY AND INVENTORY

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14 THE BUSINESS SIDE OF FARMING

tools, livestock, nursery stock, furniture, etc., which will be subject to inventory, but not bills for supplies, feed, table ex- penses, etc.; also receipts for the payment of money, cancelled notes, certificates of pedigree, important clippings from peri- odicals, and any other matter of interest. This will prove an invaluable record for future guidance. Many prefer the al- phabetical file, illustrated on page 10.

The Inventory

The inventory may be considered the most important doc- ument among the farm records, because without it no results at all can be obtained. It should be taken at such a time as will give the most accurate results with the least expenditure of labor. This differs widely in different localities. January Ist seems the most natural beginning of the fiscal year, but the objection is that at this time there is apt to be a large quan- tity of feed and supplies on hand.

April 1st would be a better date so far as stock on hand is concerned, but inconvenient in many localities on account of the pressure of spring work. Whenever it is taken, it should be accurate. No guess work should be tolerated. Weigh and count; do not estimate. Then assign the actual market value to the preverty, taking due account of depreciation.

Depreciation

Neither an old wagon nor an old horse is worth as much as new ones. The same holds true with very few exceptions of all equipment, animals, houses, and improvements. The ques- tion as to what rate shall be charged off annually, so as to create a sinking fund with which to renew the depletion, has been an open question with accountants since time immemor- ial. It is particularly difficult to determine the depreciation of live stock, work horses, and a depletion of the fertility of the soil. Without entering into a discussion of the subject, I give below the experience and opinion of the best authorities on the subject. The thoughtful farmer will find no difficulty in adjusting these rates to suit his conditions. For the purpose of general estimates, the following rates on the cost or market value are fairly accurate:

FARM RECORDS 15

Buildings (including insurance and repairs). 5 per cent.

orses, above 5 Years. . occ... i See ee ae ek 10 per cent. PRM ORISE ore, Nace GHA Pia, what oleh Sidi bb aes 8 per cent. Miachinery and) tO0lS. 2.) Gc. wel eelee oe os 10 per cent.

How to Determine the Profits

The all-important question at the end of each year is: Has the work for the year been a financial success or failure? To determine the profits or losses is, therefore, a problem to be solved each year. As a matter of fact, it is a very simple prob- lem, and it becomes easier the oftener it is done.

Let us assume that heretofore you have kept no books what- ever, but you have now decided to make a start. You have pro- cured a simple, substantial Day Book (may be purchased at any stationery or drug store), and after listing all your prop- erty, you are prepared to make the entries shown in the illus- tration. April lst is selected as the beginning of the fiscal year, because on that date the supplies, grain, feed, ete., are usually low, and the average farmer has considerable time to spare. Of course, this varies in different localities, and any other date may be selected to suit the farmer’s convenience. The proper opening entries, including the inventory, are shown on page 12.

A Year Later

A year has passed and we are now ready to determine the result of the year’s work. Since we have kept the only mem- oranda in the day book, the best we can do is to take another inventory exactly similar to the last one. This we will now proceed to do.

The second financial statement and the statement of Profit and loss are illustrated on page 17.

Net Earnings

The net profits shown in the illustration, page 17, include the interest on the investment and the wages of the members of the family. To find the net earnings of the proprietor, the value of the household goods, life insurance, cash, and the cost of the dwelling should be deducted from the last year’s inventory. Then find the interest on the remainder at a fair rate; this deducted from the profit gives the earnings of the

16 THE BUSINESS SIDE OF FARMING

family. This is illustrated further in Lesson 11. If members of the family, engaged in productive work, receive regular pay before the statement is made, the final result is the net profit above wages and interest. The question might be asked: why deduct the value of the dwelling before the interest is taken? The reason is that the dwelling is not a productive investment. It is apt to be more or less valuable than the average standard, according to the taste and ability of the owner. Amounts drawn for personal use should, of course, be added to the net earnings. Continued Inventories

It is often convenient to tabulate the annual inventories as follows:

= April! | Aprill | Aprill April 1 ITEMS {908 1909 1910 1911 Farm, 160 acres (market value) .| 8000 8620 | EO MUGC eyes oars Wat orem neis ston aes oe 507|50 547|86 | STOCKMee state nase. koaayolenamic cman: ee 1959 1966 | | LONE 5 bo oe Co oo Coosa mero%o a. cifoee svete | | bite. InSuTranece ss: auch, cette Seno 964/36 | | CIT Ty ae eee Ree Ne a 170 126/04] | | Mota ck. oka ee ee | |

Personal Accounts

A farmer frequently retails his products to his neighbors or to townspeople, if he lives near town. In such cases it often happens that he can sell to better advantage by running an account with steady customers, collecting by the week or month. If this phase of the business is extensive, as is the case in truck farming, dairy, poultry, and the like, it would pay the farmer to provide tickets or coupons and sell five or ten dollars’ worth in advance even at a small discount. But generally an account with each customer, kept either in a sep- arate book or in part of the Day Book, will be found satisfac- tory. However, most farmers sell their products for cash, or exchange for merchandise, which is equivalent to cash sales. It is, therefore, unnecessary to enter into an elaborate dis- cussion of keeping such accounts.

Some farmers, very unwisely, attend to the personal busi- ness of their hired help, even to the extent of buying their smoking tobacco. There is absolutely no excuse for such a

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FARM RECORDS

DOUBLE ENTRY LEDGER

20 THE BUSINESS SIDE OF FARMING

practice. Rather pay your help in installments and let them settle their own bills.

Accounts with persons we owe are generally unnecessary. Most merchants furnish either a pass book, in which the ac- count is shown in detail, or an itemized bill is furnished with each purchase. These bills should be pasted in the Bill File and checked off when paid. In the great majority of cases this will prove more satisfactory than ledger accounts.

A special ledger can be provided, or separate pages of the Day Book devoted to special accounts. This classification is made either daily, weekly or monthly, as time and circum- stances allow.

FARM RECORDS 21

CHAPTER IV MODIFIED DOUBLE ENTRY Ancient Methods

Not many generations ago it was considered sufficient for the average manufacturer merely to record his cash receipts and expenditures and to keep a tolerable accurate check on the cash balance. In many instances, the left trousers pocket served as the debit side and the right as the credit side of the “Ledger.” Modern business methods and sharp competition have changed these notions until today it is necessary to know the cost of production in advance to the smallest detail. Ancient business methods prevail yet, very generally, on the farm. The wonderful progress of the American farmer is due to marvelous natural resources, labor-saving inventions, and natural ingenuity, rather than to wise and prudent man- agement.

Necessity of Careful Management

In certain respects, a farmer must combine the methods of the manufacturer and the merchant. He must learn, not only how to increase production, but also how to facilitate the prof- itable exchange of his products. He must reduce the cost of production to the minimum by increasing the quality and the quantity of his products, and by getting full value out of labor. He must manage so that his working force, farm hands, chil- dren, horses, all, are constantly employed. This requires most skillful management in the rotation of crops, in the division of labor, in selecting seeds, fertilizers and stock; and, above all, it requires general prudence in purchasing equipment and supplies, and in marketing products. Progressive farmers require a variety of records to assist in the proper manage- ment of their business. A first-class set of books is just as indispensable to them as to the banker or to the manufacturer.

Superiority of Double Entry

A careful comparison of the results obtained in the last chapter with the balance sheet given on page 39 will convince the reader of the superiority of double entry. It will be ob-

THE BUSINESS SIDE OF FARMING

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24 THE BUSINESS SIDE OF FARMING

served that the only result obtained by a comparison of inven- tories was the net profit or loss. The source or causes of these results cannot be obtained by this method. The method sug- gested in Chapter III has this advantage: There is not a farmer so busy or so ignorant that he cannot adopt it and derive great benefit from its use. But the ambitious, pro- gressive farmer will not be satisfied with this primitive method any more than a wide-awake merchant will be satis- fied with single entry bookkeeping. He will adopt a system which will give him at any time reliable information as to his financial standing, cost of production of crops, live stock and poultry, household expenses, etc., and by which he can prove that his work is correct.

Single and Double Entry Compared

The distinction between single and double entry is unimpor- tant for our present purpose, but it may be a satisfaction to the reader to know that the method we are now to consider is double entry in a modified form. The important distinc- tion between the two methods is that in double entry accounts are kept with persons, property, and allowances, while in single entry accounts are kept with persons only. In double entry there is a corresponding debit for every credit; the total debits and credits must, therefore, be equal, and must balance at any time. This becomes clear by referring to the Cash Book below. In the first entry, the amount is entered in both the Total and in the Sundries column; and the same is true of all the sueceeding entries. Hence the sum of col- umns four to ten.inclusive must equal the total in column three. You will find the same to be true of the Payments, and of the Household Accounts.

Additional Books Needed

Very important books in double as well as in single entry are the Day Book and the Bill File. They are to be kept in exactly the same way as suggested under single entry, except that no cash entries are recorded in the Day Book, which is kept only as a diary. The important consideration now is to adopt additional records that will furnish the necessary in- formation in systematic and tabular form, and requiring the minimum amount of labor.

FARM RECORDS 25 The Cash Book

The Cash Book is the basis of classification. A very con- venient form is given on pages 23 and 24. The special col- umns take the place of a ledger. All money columns except the total column will be referred to as Distribution Columns. They are in reality separate accounts, and this form might, therefore, properly be called a combined Ledger and Cash Book. The form suggested has the important advantage of being self-balancing. A trial balance can be taken at the end of each page, month or year, as illustrated on page 33. The process of preparing a financial statement becomes extremely simple by this method. A few observation regarding equip- ment and supplies, improvement and repairs will be of assist- ance in using the distribution columns.

Equipment and Supplies

In accurate accounting, the question often arises: What shall be considered equipment, and what supplies? Supplies are defined as expendible or consumable materials, which are incapable of being used more than once; while equipment is of more permanent character, articles which can be used re- peatedly. Fuel, lubricating oil, cotton waste, feed, etc., are supplies; while machinery, furniture, and apparatus of all kinds are equipment.

Improvement and Repairs

The distinction between improvements and repairs is not always clearly understood. An improvement adds value to the property, in the shape of equipment, buildings, drains, fences, and the like; while repairs merely keep up the prop- erty. A coat of paint on an unpainted building is an improve- ment; repainting is classed under repairs. This distinction is very important in making an inventory. Improvements are added to the inventory, repairs are not.

Cash Balance and Sundry Columns

The cash balance is found as follows: NCEP? GICSI G12 recat OE aS aa ear $653.14 ure RUE SIME MIL 6S ca ccci sou taco nini.s agate evdeeo S\acsnor 578:80

EMR COM os enti air ele Os teat ke $ 74.34

26 THE BUSINESS SIDE OF FARMING

Note that the totals of columns four to ten equal the total of column three; and that columns fifteen to twenty-two equal column fourteen. The Sundries column contains all entries which do not fall under the special columns. At the end of the year, the items are segregated under various titles. The segregation for the month of April is as follows:

Sundry Receipt Column (10):

PAN ANICO! ass. ccs: oconae & cgsee io 1 ee ee $126.04 THANG OP i oc Ste ardrede 8 naar eos ee ee 10.00 WOOG! fois cs, Sastecs bd ole eae, Soe, sae Oe ee 22.40 Potal ss. cccs eusiers wick ele eaedls ae $158.44 Sundry Payment Column (22) : INtereSt: Jac.'ca cet as eee ee $ 22.00 BANGS! 4. 5.Shscs Wiese Me eine cee eee 33.40 Aecounts: Pays Oks 2) oe oo ee 15.80 INSURANCE soa: eas = Ga Oe eee 35.10 Totaly.S ost eee ees Se eee $106.30 Improvements and Repair Column (21): Improvements? 3-0-8 Oo. os See ee $ 80.00 IRODAINS: oct Done te heed a eee 34.60 Potals 7. Wy 0 oe ae one eee $114.60

Trial Balance

In the language of the accountant, a trial balance is a test of the equality of the debits and credits in a set of double entry books. Our trial balance is much simpler; it is simply a test of equality of the total columns and the distribution columns. In the Cash Book, merely add the distribution columns on each side and note that their sum equals the respective total col- umns. The Household and Shop accounts are balanced in the same manner.

Banking

The enormous increase in bank deposits in rural communi- ties is the best evidence that the farmer is beginning to appreciate the value of better system in his finances. It is claimed that fully ninety-five per cent. of the country’s busi- ness is done by credit currency, such as checks, drafts, moncy

FARM RECORDS 27

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28 THE BUSINESS SIDE OF FARMING

orders, notes, and the like. Many good business men keep only their bank book, and this is far more satisfactory than no bookkeeping at all, especially if bills and receipts are filed for reference. The bank account may be carried entirely inde- pendent of all other records.

Banking carries with it many advantages. Important among them are :—

1. The depositor’s credit and influence are measured largely by the size and regularity of his bank account.

2. A tendency to economize by a desire to increase the bank balance.

3. The banker becomes your bookkeeper and _ business counselor.

4. Security against fire and robbers.

5. Indorsed checks are both records and receipts of pay- ments.

6. A benefit to the community by keeping the money in circulation. |

7. Convenience in making change.

8. The bank will always loan to a good depositor in pref- erence to one who is not a depositor.

There are only two operations in banking which need dis- cussion here—depositing and checking. The banker will give all necessary directions regarding both, except as to keeping the individual account. This is illustrated on page 27, and will be thoroughly understood after Lesson 5 has been worked out. The special column Cash Book, pages 22 and 23, is an excellent form for keeping the bank account. [f all cash is deposited and all payments made by check, the dif- ference between the total columns represents the bank bal- ance. As to deposits, it is preferable to deposit all cash, and then draw out for personal use as needed.

The method of handling checks is as follows: Record the payee, number, the amount, as illustrated under Cash Pay- ments, page 38. The checks are satisfactory receipts, but the itemized bills should be pasted in the Bill File and bear the same number as the checks. The bank will usually furnish all necessary stationery free of charge. The bank balance is considered a part of the cash on hand, so that no special account except the check stubs and pass book need be kept with the bank. The bank balance is proved each month as

FARM RECORDS

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follows: Arrange the checks returned numerically.- List the checks not returned; add the outstanding checks to the bal- ance shown in the check register; the sum should agree with the balance in the pass book. It is often convenient to keep a special check register. Page 27 is a convenient form, showing the method of proving the balance at the bottom of the page. The Ledger

With a special column cash book, the ledger can be dis- pensed with in most cases. The further classification of the sundry columns can be done at the end of the year, as illus- trated on page 26, and a few pages of the Day Book can be de- voted to ‘““What We Owe Others” and “What Others Owe Us.” Where a special ledger is found necessary, the form shown on page 18 can be used.

The old style ledger possesses some advantages over any other form. The debit appears on the left and the credit on the right side on the same page. It is used in either double or single entry. The difficulty of keeping the ledger in balance prevents the use of the double entry ledger to a very large ex- tent. This is especially true if an attempt is made to use the ordinary Journal.

Direct entries into either the double or single entry ledger present less difficulties, and the method is recommended where the classification of accounts is such as to make the combined Cash Book and Ledger unpractical. This need scarcely ever be the case, however, because if ruled sheets cannot be obtained without headings, a blank sheet may be ruled with any number of columns and headed with titles to suit. For example, an orchardist would head his Receipt Columns: Apples, Prunes, Peaches, Small Fruits, ete. While an exclusive stock farmer would devote special columns to the different kinds of stock.

The advantage of the ledger method is that each account is more condensed, while the self-proving and labor-saving fea- tures are important in the Special Column Cash Book. Prepar- ing a trial balance and balance sheet, and closing the ledger properly, though very simple for the experienced accountant, requires a proficiency in bookkeeping that few farmers pos- Sess.

On page 19 is an illustration of the ordinary form of direct- entry ledger, showing the entries for April 1st. Compare these

FARM RECORDS 31

with the first entries on pages 23 and 24, and note the similar- ity of results. In the form on page 19 follow the arrows and note that there is a debit for every credit, and vice versa. In the column marked (a) is entered the Day Book page, if the entries have been previously made in that book.

The Voucher System

It is often preferable, especially on a large farm, and in a corporate business, to pay all bills by check. When this plan is followed, it is unnecessary to copy the items, as in the illus- tration, page 24, but merely to write the name of the payee in the items column. The distribution should be noted on the bill or voucher, and all the vouchers, together with the can- celed checks, should be filed in envelopes, properly numbered to correspond with the number of the check. The accounts are fully illustrated on page 38.

Adaptation of This System to Any Business

The foregoing system of accounting can be adapted very readily to any business, and it is especially recommended for a cash business, where the personal accounts are few. Instead of Hay, Grain, etc., the orchardist would head his columns Apples, Pears, etc., while other enterprises would use head- ings best suited to their business.

Orchard Accounts

On page 38 will be found two illustrations of the voucher system and the proper classification of orchard accounts. The only difference between the two forms is that Form B has a larger distribution of the payments and a smaller distribu- tion of the receipts. Blank forms, No. 14-15 for A, and 16-17 for B, can be secured from the College Bookstore. The Assess- ment column in Form A, Receipts, is used in a corporate business. The personal accounts can be carried as illustrated on page 18, and the Special Records in Chapter VIII can be modified very readily to suit the needs of any special business. The continued inventory, illustrated on page 16, is recom- mended.

32 THE BUSINESS SIDE OF FARMING

CHAPTER V HOUSEHOLD ACCOUNTS

It will be seen that no provision has been made in the Gen- eral Cash Book for separate items in the household accounts. This is left for the housekeeper. The fact that her field is somewhat limited, from a business point of view, is no argu- ment in favor of loose and careless methods of accounting.

Most housekeepers prefer to receive a fixed allowance for household expenses, whenever it is practicable. For the pres- ent purpose we will suppose that the following agreement has been entered into between the farmer and his wife. She is to receive the following:

Monthly Allowances for Household and Personal Expenses

For propfietor: and “witee 22.525. 2.2 Se see $25.00 Boarth dor hired.help2sRss ss das aces eee 15.00 Kor four-childrets «.2:: dma oie a eae ee eee ae 32.00 OMIT PICS 500005, Sos & aco erin ta es en oe Eee 18.00

otal niu Gis weenie bende Met ise See eee $90.00

In addition to the cash allowance, vegetables, poultry and dairy products are furnished from the farm at market price. The proprietor gives his wife an allowance of $90 each month, either in one or in several payments, and enters it in his cash expenditures. His wife, in turn, enters her allowance in her record. Bills for furniture, clothing, and utensils are pasted in a Bill and Receipt File, same as in the Farm Accounts.

Note that the items entered in columns one and two are also entered in columns eight, nine, or ten, since they are purchases from the farm. Because they are entered both as receipts and payments, they do not affect the cash balance.

At the end of the year, the proprietor enters the totals te columns one and two in his cash receipts, under the proper headings, and at the same time they are entered as cash pay- ments in the household column. See page 22, under April 30th. Thus the farm will receive full credit for what it sells to the household as well as to others.

It is suggested that the housekeeper open a private bank account and pay large items by check. See April 13th, 29th

FARM RECORDS 33

and 30th. There are numerous advantages in keeping a bank account. See page 26. A bill for furniture, utensils, and im- provements should always be taken and pasted in the Bill File. It is convenient to number the bills the same as the checks, as suggested in column six. Since endorsement by the payee constitutes receipt, it is generally unnecessary to take receipt when payment is made by check.

Page 34 shows a convenient form of a combined household Cash Book and Ledger. A summary of the receipts and pay- ments is prepared at the end of the year, as shown on page 36.

Trial Balance

MMT Fog dN Sy oie «ox oy unde «sere Foam ale sea tee Gee $ 13.05 I See ek he an od Ace aaa mee 11.80 ERE TEV Secs cae 5, fina So, og ns oe dons a 12.40 EU ec oie, evga ela len's oi epals, sve ocala ateataertantene 16.85 Semmemittee ANG. WLENSUS, . 6. ois ae civ ee es woe oe eee soe 22.05 IR LITOT Yo. cad a oles o ole a calc de amines 11.60 LMR Eo DO S| 6.65 NS oh SS ece uc o aiecle Wa ae db ele dwioe eae 6.10 og ea i hod nn Wa as de See ee eee eae ae 2.35 MS. raed knee cd dye o 39d RG 3 a-e & cisahea dew eceee 1525 erated) IRECTCALION. 2 0s... we eee tgs ces eeas 3.00 MEER oir ae eo ahr a gre registdialdoe ew ace ee ea rete ae ol be 2.65 ey oreian and Medicine .........5...-000 Nolaltisthtice 1.50 MRI CUT og yl Sa a 0 ahaa es ie a ao gence le ard eeu 1.50

Paper oe Sd coe oes Glahtl Santen ale aya) haan $112.75

The Voucher System

It is often preferable, especially in a large household, to pay all bills by check. When this plan is followed, it is un- necessary to copy the items, as in the illustration, but merely to write the name of the payee in the items column as shown under April 29, Murdock Grocery Company. The distribution should be noted on the bill and all vouchers to- gether with the cancelled check should be filed in envelopes properly numbered to correspond with the number of the check.

_ See illustration, page 38.

34 THE BUSINESS SIDE OF FARMING

HOUSEHOLD ACCOUNTS

RECEIPTS = 5 Dairy, | rroouct MATE iTeMS o Poult My, V4 5 | 5] OD a 2 e FORWARDED 4

LL LAOS Lcd LD i alizs 2 Pee eee Be Ar i Ee a ea Lo} 4 [| BE) ee 4o¢ (P): Leo age SU, te STDS V4 5}

| / 6 nif ee pees $0, Heckler 25¢_ 5] 7 coe = Lha ge, 25¢: Oi el Lag Zod Dita te Ape Gn: exe 256 Le it if oe mae fest ai al hl i a ee a

is d A a jlchlSAZ 2 pea eee ee

Jo ata T i } Pt 126 aia | a + WFO preg pe + md o 4 ag eA Ih. 6\50 50 ¥ Ie ES o (2) ol / FORWARDED / 2 3 Sr

HOUSEHOLD

35

190f

2

KE d

uremsics| Launury | L'8P,

PAYMENTS

¥

FURNITURE

FARM RECORDS

FOR THE MONTH OF

y DAIRY = pourtry | CLOTHING

HS Et leases ec i saci tera tel tae Ee ee Macnee Reanim atcitie ee ci eee LCL aoe ea (Yl afte eas ei eel Sela pela qole| ale beaded Saale Smemiaiseisinl task aca eel chlor te aie ale oleae ee ae epee | ot etemieveleiel sito) lc bist obese a ASE PCSHCE S2025 (UR Saae ESN Seee St att Ble Bees a ee Eee etnees Si el eallic ee ee ale tolo e | i al ea alhacteed| Co ltei) a eatac bl Ges 80s Is As E ps (Na eles Bec Ne Sees Reeea See |S gEEEEE EEE REECE E a SRERY EERE eaNeSsee aS SSS Se SES Seema aS a aI a is Seal se lee Cicer et i STS es LT Sa sSeh Pass Rel Benwow SI |_| ee el a eee ee a alesis Tere aie (ee SIR CPISeiec & HESE SERRE SSL OC eee eee 7 east Seals aA BRS ReRREeS Bil ea i |_| SSE ERUSEE SLR OS Pe Pee eee see SSS PETE as Se OS ES SSS00 00080000000 00S 88000 0G Ree : SESS05 2a6meC Re Be 1 a eS RRS ERE RRA RREERReEeRASRR eee Pio eS ese R eee COR crt SEGCEECERES(recertcrcrecnencraernerrneeca: . SRESERCEEERE SEREERCRE TT SENT OTN WOW STN S| SS OTR SoCs ES ee a eames ole las eimaen BS es |e) fe (as | a | | ef] a fee ee ee Oe 2 a i | Ps)

CASH BOOK

THE BUSINHSS SIDE OF FARMING

Sue BO ae

eS a Re 2

ES | Seas hn oe SS

|} SH SS :

SUMMARY OF HOUSEHOLD ese are J, ee!

ted unden “Special Akcou

dlumns jay be segrega

NOTE [The ittms ip the '{Sundgies” ai SUMMARY OF HOUSEHOLD ACCOUNTS

FARM RECORDS 37

CHAPTER VI THE ANNUAL STATEMENT.

The annual statement exhibits in a condensed form the financial operations for a given period. It shows the resources and liabilities, the cash receipts and expenditures, the profits and losses, the net profit or loss, and the net worth. It enables the proprietor to analyze his business with considerable ac- curacy and to trace the sources of profits and losses. There are various forms of statements, but the illustration on page 39. seems best suited to the farming business. Statement No. 3 shows the results of a month’s business only. The inventories are obtained from separate schedules and the cash receipts and expenditures are the totals found in the Cash Book.

The revenue accounts, or the accounts showing profit or loss, are fully analyzed on page 40. This is wholly independent of the other records. Three or four of the principal enterprises may be analyzed, as in the illustration, or the statement may go into greater detail to suit the condition of the business. In- dividual cost accounts are illustrated on page 43.

The method of preparing these accounts is as follows: Take the Grain account for example. We debit it with all the items that enter into the cost of its production, and credit it with the returns. The first item of cost in last year’s inventory Financial Statement No. 2; Lesson 4), is $377.86; Labor (Horse and Man, from Labor Record), $440.00; Interest on the value of Land devoted to Grain (56 acres @ $55.00 per acre), 6 per cent., $184.80; Seeds and Fertilizers (Cash Pay- ments), $129.71. The returns are: Present Inventory, $380.00; Cash Receipts, $712.43; Fed to Stock (Feed Record assumed), $770.07; Fed to Poultry, $50.00. From this we ob- tain the net profit, $780.13.

In a similar manner we consider the Stock account and the Hay account. The illustrations, pages 39 and 40, show the figures supplied from each account.

It should be borne in mind that this exercise in cost account- ing is only suggestive. The principles are fundamental and correct, but their application in practice may vary greatly.

THE BUSINESS SIDE OF FARMING

38

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ORCHARD ACCOUNTS

FARM RECORDS 39

Thus, some farmers will charge live stock a certain amount for housing, perhaps also for the use of utensils, machinery, and the like; others will insist on deducting the cost and care of the dwelling from the annual farm inventory, since this is not capital invested in the business. For a full discussion of this subject, see Bulletin 73, Bureau of Statistics, U. S. De- partment of Agriculture.

Financial Statement, Year Ending ete 4,.. 19/2

Cash Receipts and Payments

REcEIPrs PAYMENTS Grain, «dc. ee ae $.. LG #3 Household and Personal ..... WARE. Go Ws ois acts A OSS oRootte ead .. 4204.20 Seeds and Fertilizers. .. ..... LAG Lf. Orchard and Garden ......... WAGIS. 60 Hired! Gaborsts 25.0 sc acenes FBS) 7.0 DIROGIM ts Wie icici Pincrs tra -ciev we ‘ 00). . General Expense and Marketing - 2&9, A vy Meehan 4 08 Le Stock and eed... ..../0.... -. ALAS LZO GA3AF Implements..... Bo tae ; 2235).76

Improvements... .......... eae Ke) Repairiiemencts. 0am : ee eh #0

Sunpries (itemize below) ......

Resources

Farm (market value).......... 42) Hired Labor ........... yeep ope AAG Cash and Bank, as above ...... Bee Bills)Payable. ce. casecslese sce Life Insurance, paid up value.. /.¢. Accounts Payable ............ LORIN Garten = <i n.acintiw Werte SG 4 Giktanda; 50h boacantten tose: ee toon anf trek eer teen ere R READ Bom ascitic hots MOP EE OADE oo ces bat Leaner” SAA oo ere one IDRINVEETOCUCEAI(E) ie cccc cece. | eee sles wees Bile coca tranacrererie etcetera Bonltryn (i) iicctesescdse ns: BARC le a See Mn OR Acari CoA CAOL cee wea cewersal ass Implements (a).........-... : Sa ALE ey Viera Seiad a]stedabtatel eens ystestese seein | stehets sate lloret a Household Goods (a)........-.. WAN PD ol See ae ain areremessiats AN BN Aor oe cl od General Supplies (a),........-. AF ZO. ACs Pano codaeneionacnidosod. § asooneed acta

(a) As per Inventory. (b) Difference between Receipts and Payments.

Statement of Profit and Loss

Natrorihiseisbovelt eee ans ceeecioe lf F MA Rant os as Vaso GE Gain for the year .... ....- Se eee 8. /OIATE ees carat anncebient 7 6 He aeaetelsie 3 Bes Pe

LGREDINGG ocr. cejas= ce) see wiele, visinie 8. f1.8\ EF xX Of a od, See fa esSS and 4b

GENERAL BALANCE SHEET

40 THE BUSINESS SIDE OF FARMING *

ee Accounts Showing Profit or Loss, Year I ess 19/9

(Amounts are taken from Inventories, Cash Book, and Special Records.)

GRAIN

Cost. Returns.

Inventory last year Present Inventory.........-...- Babonc.a ceases es serie BOF: . Receipts from Sales Ipiere bon Val of Land... LEA £0 Fed!'to:Stoek. 225 cs0 sc Seedy Fer agers , Oa S. : LAG. F/. Fed to Poultry...... Piet Profit bsz-Licwedodas sos lore CeO | Ae Oe iat aianaene he eee Motaleitrstis sisiects $47 /2)F0 Total STOCK Cost Returns.

Inventory last year ...... .-.. 8/906). dete Present Inventory.......... ... s/GLE. Joe Tiahovn Sse yst es. Wit cee eteteiels Sole POIons Receipts from Sales............. LZOCI Graitig haet po tnace eee en ieee i 472. O72 Receipts from Dairy............ LOSE) LZ Haye tack e- a untactemsnees Ae 749\ 80 Labor (Cash Receipts... ...... ey ar ee Intarestian, Inventory last,years.. ° .-AAGUuGG 22s sc fee al nen Gg eas eee eters Pasturage on Land............. 5 ABN Me aS shea Se ance Na eae ee este

Rb. .00. inte Maan autanee ee ie 5 Ma PEAR Be EES APA Rood y ules eGeo0: Cone

ORCHARD AND GARDEN

Cost. RETURNS.

Inventory last year ............ Bitte ore cetial| errs Present Inventory.............- L Beaeriel Mane Mabon and Marketing su tejcreie laos sineisa| frre Receipts 22... «joc lesieets tere os aes bc ve eae [ete Tniterestion, Gand <0 jo:c:sfcses. ex's 1 tore sYeistseellemtne >. prayelersissete laters aysuzte) alates afotomepatenate) Ber ors me nee |e

SAAC Totalls.cv.. Sescte Si cc0 eel eae HAY

RETURNS.

Present Inventory: .:...)..2..4.

Receipts... Bonini ahomiton

Fed ito: Stocizays once ceeiece

Total. vemiae\ eres RETURNS.

Totals oo. ire kere

GENERAL BALANCE SHEET

FARM RECORDS 41

CHAPTER VII COST OF PRODUCTION

Too often a good farm is compelled to carry unprofitable experiments and the whole business is pronounced a failure without an adequate attempt to find a remedy. In addition to the foregoing records, Mr. Harris has kept accurate cost ac- counts of the main branches of his business. In cost account- ing there are four principal elements to consider: Cost of material, labor, interest, and depreciation. The cost records are independent of all the rest and may be kept of every branch of the business, if desired, or limited to one or more phases. In this instance, cost records have been kept of Live Stock, Grain, Hay, Dairy Products and Improvements. The Agricul- tural Experiment Stations are always willing to give the farm- er important advice and assistance regarding the stock, grain, fruit, etc., best adapted for different localities and purposes. But conditions frequently arise where it is important for the farmer to carry on his own experiments. Your own Experi- ment Station will doubtless be glad to co-operate and suggest methods for carrying on such experiments even to the extent of furnishing necessary blanks and material. Important bulletins on the subject may be had for the asking from uke Department of Agriculture, Washington, D. C.

The following announcement in the Crop Reporter for May, 1908, indicates what the government is doing in this direction:

Cost of Producing Farm Products

“The Bureau of Statistics is making an investigation of the cost of producing farm products in different parts of the United States. Blank forms have been printed upon which to make reports, and this Bureau desires to receive the names of such farmers as have kept records of cost of producing crops, or are well informed upon the subject of cost of crop production in their locality, in order that blank schedules may be sent to them to fill in. Individual reports will not be pub- lished—only the average of many reports. Names should be sent to the Bureau of Statictics, Department of Agriculture, Washington, D. C.”

42 THE BUSINESS SIDE OF FARMING

Every farmer should avail himself of this important free service. ‘‘Keeping posted” is one of the characteristics of the progressive and successful farmer. There are two ex- ceptionally valuable bulletins on the subject which ought to be in the library of every farmer: U.S. Department of Agricul- ture, Bureau of Statictics, Bulletin No. 48, and Universi of Minnesota, Agri. Ex. Station, Bulletin No. 97.

Live Stock

Hither of three methods may be employed in finding the cost of live stock.

First Method. Ascertain exactly the total amount of grain, hay, and roughage on hand at the beginning of the year, and produced during the year. From this subtract the quantity sold, including amount used by the household and for seed, and the amount on hand at the end of the year. The difference is the quantity used for live stock. The value at market prices is the expenditures of feed for live stock.

Find the total amount received for dairy products, including amount used by the household. The difference between the cost and the receipts is the gain. The disadvantage of this method is that no account is taken of individual animals nor of different kinds of stock. The herd as a whole may be a paying investment and still there may be individual animals carried at a loss. It is desirable that such records be kept, at least occa- sionally, as will enable the farmer to eliminate unprofitable animals.

Second Method. The following actual record of a dairy herd of twelve cows illustrates a much more satisfactory test than the preceding. Individual record was kept of the milk produced by each cow, but the feed was weighed for the entire herd, and the average cost charged to each animal at market prices.

With this average before him, a careful feeder will be able to make mental corrections for each individual animal, accu- rate enough for most practical purposes. The milk record has been kept, as illustrated on page 49

FARM RECORDS 43

te tear TEE oe

\

3)

~“ IN

A

COST ACCOUNTS

44 THE BUSINESSS SIDE OF FARMING Test of Dairy Herd for March, 1909

No. Lbs. Milk Lbs. Val. at Cost of * Net Cow. for Mo. *Test. Fat. 3 6c. Feed. Profit. ig 465 4.5 20.93 $ 7.53 $6.21 $1.32 2: 372 5.0 18.60 6.70 AQ 3 620 5.0 31.00 11.16 i: 4,95 4, ala 7.0 26.04 9.37 3 3.16 5. 496 4.8 23.80 8.57 os 2.36 6 682 4.7 32.05 11.54 a5 5.33 7 558 4.4 24.55 8.44 re 2.20 8. 620 4.1 25:42 9.15 Bi 2.94 9: 496 4.2 20.83 7.50 a 1.29 10. 651 4.9 31.90 11.48 i, 52 ik 558 5.0 Zio0 10.04 9 3.83 Le: 589 5.0 29.45 10.60 - 4.39

*These figures were obtained by the Babcock test, which is de- scribed in every modern work on dairying.

Feed for the Month of March

Hay; 45900° Ibs: ‘at. $9.00%per ton: 273... ee $22.05 Kale, 9;600 Ibs. at $2.50: per toneas..5 eae Bran, 1,800 lbs: at $20:00 per tony... eee 27.00 Shorts, 900. lbs: at $80.00‘per tons: eee 13.50

ol Wo 7 Wh aecene ccleaner Men Spi Ph nie ule $74.55

74.55 divided by 12 equals 6.21, average cost of feed.

Third Method. The difference between the second and third methods is that in the latter accurate records are kept of individual feed rations, while in the second method an aver- age is taken. The error resulting from averaging the feed be- tween all the animals in a large herd may be such as to unduly favor certain animals and do injustice to others. The only ab- solutely accurate method is to keep an account with each ani- mal; at least with such animals as show a tendency to be un- profitable. Page 43 shows an individual account with one of the milch cows on the Harris farm. It is arranged on the regular Ledger form. Opposite pages of the Day Book may also be used. The detailed information regarding Feed, Milk, Labor, etc., is found in the respective records, illustrated on pages 49 and 50 respectively. Similar accounts are kept of each animal, tested preferably during the entire lactation

FARM RECORDS 45

period. It is only in this way that the careful farmer can de- termine whether each animal is kept at a gain or a loss. The weeding out of one or two unprofitable animals a year will pay for the labor of keeping the cost records many times over.

Cost of Crops

The principles laid down in respect to the cost of animal products hold true also for the cost of farm crops. Two meth- ods suggest themselves. Accounts with the various crops and accounts with the different fields. Either method requires de- tailed records of the labor, seed, fertilizer, etc., expended on the crop and of returns not only for cash sales, but for prod- ucts used by the household and for feed. On page 43 is illus- trated an account with the wheat crop in 1908. Only one item needs explanation, that of depreciation, due to continuous cropping. Whether the rate, two per cent, is too high or too low, matters little; the important point to be emphasized is that the value of the land diminishes unless rotation of crops is practiced.

46 THE BUSINESS SIDE OF FARMING

CHAPTER VIII SPECIAL RECORDS.

There are several convenient special records which ought to be adopted, besides those I have illustrated. It is not neces- sary that expensive printed books be provided. A plain sheet of paper may be ruled as suggested below and pasted in the Bill File. In fact, this is in many respects preferable to printed forms, because the forms can then be changed from year to year to suit conditions.

Labor Records

The best form of labor record is illustrated on pages 49 and 50. In one, account is kept with the object upon which labor is expended; in the other, with the laborer. For ordinary pur- poses, page 49 is the most convenient, but where several men are engaged on a project, form (a), page 51, is preferable.

Where the loose leaf book is used it is convenient to tack a sheet to a board, and hang it in a convenient place until it is filled, when it may be filed permanently. See illustration, page 53.

Milk Records

Two milk records are illustrated on pages 49 and 51. Each possesses certain advantages over the other. The weekly re- cord need not be so large and admits of larger spaces, while the monthly record exhibits the entire month’s result on a single page. The weekly record is more appropriate for filing, being: less liable to soiling. Whichever form is used, it should be tacked to a board in a convenient place for the milker. A spring scale, graduated to hundredths, should be hung near the record, far enough from the wall for the pail to hang freely. The original records should be filed for at least a year. If a daily time book is kept, it may also be adapted for the milk and poultry records.

Poultry Records

Practically the same form as the milk record can be used conveniently for the Egg record, and it is not deemed necessary to enlarge further on the subject.

FARM RECORDS 47

The methods of improving the poultry stock, and other ful information regarding the poultry business, is found in numerous books and bulletins on the subject.

Duplicating Sales Book

It is often convenient to retain a duplicate of sales, orders, receipts, etc. It will be found very helpful to the farmer and to the dealer alike, if the farmer prepares a bill of the produce he brings into town for sale. This will often avoid misunder- standing and may save money. This is especially true if the produce is sent in by children or by someone not connected with the family. On page 51 is illustrated a very convenient book which is kept in stock in most stationery stores. Where this system is used, it is advisable that every sale be recorded, and then listed as shown on page 50. In entering in the Cash Book, the sale number should be inserted. All sales to mer- chants should be considered as cash, even if the produce is exchanged for merchandise. If sales are made on time, note the fact on the bill, and enter it into the personal account as illustrated on page 18.

The Farm Plot

There is one more record which I cannot urge too strongly. I refer to the yearly plots. This record will prove to be one of the most valuable and interesting parts of the farm history. A plot is easily made by first drawing a square on a blank piece of paper and then sketching the fields. It is, of course, unnecessary to draw this to scale. A close approximation is all that is necessary. Below is an illustration.

The Farm Office

Talk about an office on the farm! Why not? Why should not the average farmer enjoy at least a comfortable desk and neatly printed stationery? Every boy loves “to do business.” Surround him with a business atmosphere on the homestead and he will stay by you and succeed you in your old age; con- tinue in your slip-shod methods and he will move to town and become a cheap clerk instead of a landed proprietor. Encour- age your children to assist in your business; make them feel that they are intimately associated with you; take them into

your confidence and, as they grow older, into your counsel,

48 THE BUSINESS SIDE OF FARMING

especially when you are considering your annual balance sheet and a greater prosperity, wider influence, and a more con- tented family will be your reward.

A very convenient desk is illustrated on page 6. Besides the usual drawers, pigeon holes, etc., it contains a fire proof safe which affords ample protection against fire and burglars. It is built especially for farmers by The J. K. Gill Company, Portland, Oregon, at a very moderate price.

FARM RECORDS 49

MILK Beate

~

Dade Pans Go “ el Bs

w feed Kecord Dae 7Y Cows, fun COSF OF

Heh Ooze nastncacasstiaasoae mesa fee |e

¢ kik ee PEE tt its ed et 4d 2a A BREDBB ed EEE a aap a REESE gott Za wy. Ree ere pet ta SS ee td BBeSse CLC x LA, je] | | rT TT The TT hy lY¥bo\ Lie 7 ved | | TT Tee Po CSS SSR eeELESaas eet tt ttt tt 2o| had. last CI] » CREE §30| Je | DESO SSe@Ssoeen8 BEER RRESAREEaeeoe Le HDB RePeeseeseaea 0 ba SRST (a) pounde, $30.00 fee } GO pon—Le facse/h2.50 fee Za

@ Daily ites eeny fers, 1909 ae [feloL Ase lel ehh dee edad ae py

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nine ae SUNREE?OROEPOOUHEACROORE*O0I rT bdeel de Ui nh ZA

SPECIAL RECORDS

60 THE BUSINESS SIDE OF FARMING

| FEED RECORD ts PRUBEED ae Lang CS si Week ending .

SUNDAY MONDAY TUESDAY =| WEDNESDAY

or agate Fen all fos | eal Botan eon Sa oo a . Fea eB BFF Hl Ce aA ae Lbs, thlh |

Bree aon e

SPECIAL RECORDS

FARM RECORDS 51

ha Infrodemetls Z Forse Barn

TIME BOOK for the

ZZ | aaa i rr Mee gag pee

MaaeHnare Meee aan

TIME AND SALES BOOK

52 THE BUSINESS SIDE OF FARMING

Fag of flar rss farm, G08

Weteahigh

\Garden, Claas

Yard| J/3 A Nauk

THE FARM PLOT

FARM RECORDS 53

: fa phe. ‘ Hae Y:

Baie TEE

Ooze TAIT |

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|

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| debe [PS | ee eaiaial nuen 1 t | ry i

Seales Ces ia|

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Poemg Wexeil's Farm Arcosating es e 7) : vee, PEED RECORD : ind of Stock EAS Week Ending, L oF / yf

ae TUESDAY WEDNESU AY TUTERSDA E SATURDAY

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MILK,AND LABOR RECORD

LIBRARY OF CONGRESS

Giicat oe he, oo ee * bIesnealMontl

Entered at postoffice, Corvallis, Oregon, as second-class matter under act of Congress of