Both cash and non-cash revenues are recognized. Only revenue earned by the cow-calf enterprise during the fiscal year is accounted for. Weaned Calves - The value of the weaned calf crop is given in item 10. This should be net amount less the cost of selling. Remember to include base value of replacement animals, non-cash value of retained animals, and value of purchased grafted calves.
Values are determined at weaning.
Enter the head count culled by category, the average price received per head, and the base value. Animals on the beginning balance sheet that die during the fiscal year will be shown as a loss in this section. The amount of the loss will be the value of that animal on the beginning balance sheet. Enter the base value used on the beginning balance sheet and the ending balance sheet. Subtract the total for ending base value from the total for beginning base value.