The Hays free press. [volume] (Hays, Kan.) 1908-1924, 1914-01-10


when if the facts were known, profit |
would be shown instead. By keeping |
daily check, the truth is Known and
the manager knows what to DO.
Suppose heard Of cattle is to be
put on feed at given time for q Ger
tain market. Immediately a set OF
cost sheets should be started. No item
of expense should be omitted
from the sheet. Not only first cost
and feed shoaId be accounted for,
but also all direct charges, as man
labor. horse labor, rent on barn, renew
ais, interest on investment and taxes,
must be entered. By means of this
tabulation a reliable guide for market
ing is available. Such a record will
not only reveal startling facts but viii
also be interesting, instructive, profit
able, and If fled away will serve az 2
basis for reckoning.
Objection is offered that the aTersge
farmer does not have time to keep
books. This view is wrong. Well
kept accounts are within the reach of
every farmer. A few minutes regu-
larlJ spent on them each day as a part
Of the chores, will Weld larger returns
than an equal amount of time devoted
to other work, provided OF course,
proper use be made of the information
gathered.
In order to further make clear the
use to which records may be put, let
Us discuss the items OF cost end pro-
duction from a certain Field of~Wheat
The cost elemeEts of such 2 product
are man and horse labor, machinery
cost, seed fertilizer, rent (or interest),
taxes. The items that make up prom s
are winter pasture, wheat threshold
and the straw. Now b. little mathe-
NAUTICAL calculation, involving simple
addition, multiplied and division
the total cost and production ara
known, giving the net profit Or loss O.
that particular field. Not only this
but the distribution of these items are
at hand, enabling the manager to see
just where the profits or losses are
sustained. Further, the manager is
able to compute the cost pee bushel, OF
per acre for a particular SEASON all OF
| which determines whether it is profit
able to grow wheat. The u S. De-
partment of Agriculture has recently
found tnat in certain localities Of our
country farmers have been growing
wheat at an actual loss. This should
not be permitted to go on Account
keeping by the farmers will stop such
Improbable hit or miss business.
The second point to be considered in
complete record keeping has to dc with
such statements as will show the Net
profit Of the term as a whole for the
year. This is not complicated mat
ter. The necessary elements enter
ing into such a statement are:
1. Two inventories. one taken at
the beginning and the other at the
close of the year. An inventory is
complete list of all the farm property
and debts at given time. 1t consists
of all land, buildings, Implements, ma
chinery, tools, debts owed, and cash
on hand In preparing such a list,
actual market values, less cost of
marketing, must be used and the work
careful ly done if it has the correct
meaning.
2 The cash account for the year
which Includes all family and house
hold expenses. Care nqss be used not
to include farm expenses In this divi-
aion.
3. All supplies furnished by the
farm to the owner and his family.
This includes all garden, poultry and
dairg products.
T. Rent on The farm house. 1t is
perfectly fair that the rental value of
the house be counted as farm receipt.
5. Interest, labor and taxes. These
items are the real farm expspses and
consist of interest on the average IL
vestmens, unpaid family 1ato-, and
taxes dae but not paid.
The five items just presented give
the data needed in determining farm
profit. The reader must keep clearly
in mind that these accounts have to do
only with the distribution of the re-
ceipts and expenditures, giving the
profits OF losses. Such records do not
tell the best paving crops or the best
paying classes of live stock.
A great majority of farmers are
living off of the interest of their in
vestments and donating their own
labor and tbe Iahor of their families,