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.

I

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
CURRENT ASSETS:

Cash, Petty 1.

Cash in Banks, 2.

Accounts Receivable, Control, Sales, 3.
Accounts Receivable, Control, Personal, 4.
Life Insurance Surrender Value, 5.

Inventories.

Finished Goods, 6.

Finished Goods, Consignments, 7.

Factory Materials and Supplies, Stock Accounts, 8 to 16.
Employees' Supplies, 17.

Notes Receivable, 18.

FIXED ASSETS:

Land and Improvements to Land, 24.

Buildings and Improvements to Buildings, 25.

Furniture and Equipment, 26.

Machinery and Equipment, 27.

Lug Box Equipment, 28.

Motor Vehicles, 29.

PROVISIONS FOR DEPRECIATION-DEDUCTIBLE FROM FIXED ASSETS:

Improvements to Land, 35.

Buildings, 36.

Machinery and Equipment, 37.

Furniture and Equipment, 38.
Motor Vehicles, 39.

RESERVE ACCOUNTS-DEDUCTIBLE FROM ASSETS:

Reserve for Accounts Receivable, 42.
Reserve to Complete Finished Goods, 43.

INTANGIBLE ASSETS:

Plans and Patterns, 46.

Patents and Copyrights, 47.

Organization Expense, 48.

Extinguishment of Organization Expense, 49.

DEFERRED CHARGES TO OPERATION:

Construction Work in Progress, 52.
Crop Mortgages, 53.

Advanced Expense, 54.

Freight Undistributed, 55.
Deposits, 56.

Transportation Claims, 57.

Suspense, 58.

Advanced Traveling Expense, 59.

Unearned Insurance, 60.

Accrued Payroll, 61.

INVESTMENT OF RESERVE FUNDS:

Bonds, Fire and Damage Insurance Fund, 64.

Accrued Expense, 81.

Bond Obligations, 82.

RESERVES OF PROFIT:

Reserve for Contingent Expense, 85.

Reserve for Fire and Damage Insurance, 86.

Reserve for Income Taxes, 87.

Reserve for Interest on Investment, 88.

NET WORTH:

Capital Stock Authorized, 90.
Unissued Capital Stock, 91.
Treasury Capital Stock, 92.
Capital Stock Subscribed, 93.
Capital Stock Subscriptions, 94.
Premium on Capital Stock, 95.
Discount on Capital Stock, 96.
Surplus Earned, 97.
Surplus Paid In, 98.
Surplus Adjustment, 99.
Dividends Paid In, 100.

DIRECT COSTS:

Green Produce Purchased, 105.
Freight on Green Produce, 106.
Freight on Empty Lug Boxes, 107.
Green Produce sold, 108.

Seed Furnished Farmers, 109.
Green Produce Field Expense, 110.
Direct Labor, 111.

Cans Used, by sizes, 112.

Bottles and Caps used, by sizes, 113.
Lye Used, 114.

Condiments Used, 115.

Sugar Used, 115A.

Salt Used, 115B.

Spices and Vinegar Used, 115C.

Labels Used, 119.

Paste Used, 120.

Boxes Used, by sizes, 121.

Nails, Strapping and Silicate Used, 122.

FACTORY MANUFACTURING COSTS:

Factory Financial Expense, 135.

Insurance Expense, 136.

Taxes, City, County and State, 137.

Interest Received, 138.

Interest Paid, 139.

Factory Overhead Expense, 140.

Indirect Labor, 141.

Salary Factory Superintendent, 142.

Bonuses to Factory Employees, 143.

Rent Factory Land and Buildings, 144.

Power Plant Expense, 145.

Power Plant Labor, 145A.

Fuel Oil, 145B.

Electric Energy Purchased, 145C.