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25 pounds sugar. Will make 7 No. 10 cans, or 30 No. 2 jelly cans.
CURRANT JELLY NO. 1
15 pounds currant juice, 5 pounds blackberry juice, 60 pounds apple juice, and 40 pounds sugar. Will make 71⁄2 No. 10 cans, or 40 No. 2 jelly cans.
CURRANT JELLY No. 2
10 pounds currant juice, 2 pounds blackberry juice, 60 pounds apple juice and 30 pounds sugar. Will make 7 No. 10 cans, or 30 No. 2 jelly cans.
PLUM JELLY NO. 1
40 pounds plum juice, 40 pounds apple juice and 40 pounds sugar. Will make 8 No. 10 cans, 12 No. 5 cans or 40 No. 2 jelly cans.
PLUM JELLY No. 2
36 pounds plum juice, 40 pounds apple juice, and 30 pounds sugar. Will make 30 No. 2 jelly cans.
QUINCE JELLY No. 1
16 pounds quince juice, 64 pounds apple juice, and 40 pounds sugar. Will make 8 No. 10 cans, 12 No. 5 cans, or 40 No. 2 jelly cans.
QUINCE JELLY No. 2
15 pounds quince juice, 56 pounds apple juice and 30 pounds sugar. Will make 30 No. 2 jelly cans.
STRAWBERRY JELLY No. 1
40 pounds strawberry juice, 50 pounds apple juice and 40 pounds sugar. Will make 8 No. 10 cans, 13 No. 5 cans, or 40 No. 2 jelly cans.
STRAWBERRY JELLY No. 2
26 pounds strawberry juice, 50 pounds apple juice and 25 pounds sugar. Will make 30 No. 2 jelly cans.
ASSIGNMENT No. 1.
FINANCIAL ACCOUNTING SYSTEM
FARM ACCOUNTING SYSTEM . INVENTORY TAKING ASSIGNMENT No. 4 PROFIT AND LOSS AND BALANCE SHEET
ASSIGNMENT No. 3
ASSIGNMENT No. 5
BOOKS AND RECORDS
Assignment No. 1
Financial Accounting System
N the larger corporations where more than one plant is operated the plants should be designated by numbers as this will make it a simple matter to enter and recap the accounts in all subsidiary books such as the freight register, the invoice transmittals, etc., without the necessity of writing the name of the account each time or of keeping separate books for the various plants.
All balance sheet accounts and accounts affecting sales and income are main office accounts while those affecting the costs of operation are chargeable to the various plants. Then 141-2 would represent a charge to indirect labor at plant number two and 148B-3 would represent a charge to water purchased at plant No. 3, and 192B, would represent a charge to swell allowances which is a subdivision of sales allowances.
It will be noted that the account unallowable and non-taxable expense and revenue is created merely for the purpose of accumulating those charges that are not allowable as deductions from revenue and of those revenues that are non-taxable under the Federal income tax laws. However, if all such items were closed to this account it would interfere with the arrangement of the accounts for cost distribution so it is best to make a reconciliation sheet for such accounts as reserves that are unallowable deductions to explain the difference in the profit and loss statement and the income tax return.
Chart of Accounts Manufacturing
Cash, Petty 1.
Cash in Banks, 2.
Accounts Receivable, Control, Sales, 3.
Life Insurance Surrender Value, 5.
Finished Goods, 6.
Finished Goods, Consignments, 7.
Factory Materials and Supplies, Stock Accounts, 8 to 16.
Notes Receivable, 18.
Land and Improvements to Land, 24.
Buildings and Improvements to Buildings, 25.
Furniture and Equipment, 26.
Machinery and Equipment, 27.
PROVISIONS FOR DEPRECIATION-DEDUCTIBLE FROM FIXED ASSETS:
Machinery and Equipment, 37.
RESERVE ACCOUNTS-DEDUCTIBLE FROM ASSETS:
Reserve for Accounts Receivable, 42.
Reserve to Complete Finished Goods, 43.
Plans and Patterns, 46.
Extinguishment of Organization Expense, 49.
DEFERRED CHARGES TO OPERATION:
Construction Work in Progress, 52.
Crop Mortgages, 53.
Transportation Claims, 57.
Advanced Traveling Expense, 59.
INVESTMENT OF RESERVE FUNDS:
Bonds, Fire and Damage Insurance Fund, 64.
Notes Payable (Short Term), 70.
Bonds Issued, 75.
Accrued Interest, 80.
RESERVES OF PROFIT:
Reserve for Contingent Expense, 85.