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Current Assets (CA) Bushels

Acres of Land @20Acres(5Bushels = 1 acre) 100


Seed 20
Fertilizer @20 Pounds (20 Pounds=2 Bushels) 2
Cow 40
Total CA 162
Noncurrent Assets (NCA) Bushels
Nil Noncurrent Assets 0
Total NCA 0
Total Assets (CA+NCA) 162
Total Liabilities & Owners Equity (CL+NCL+OE)
Assets
Balance Sheet of Ivan's Farm at the Beginning of Season
Current Liabilites (CL) Bushels
Nil Current Liabilities 0
Total CL 0
Noncurrent Liabilites ( NCL) Bushels
Nil Noncurrent Liabilities 0
Total NCL 0
Owner's Equity (OE) Bushels
Equity (From Landlord) 162
Total OE 162
Total Liabilities & Owners Equity (CL+NCL+OE) 162
Liabilities & Owners Equity
Balance Sheet of Ivan's Farm at the Beginning of Season
Current Assets (CA) Bushels
Acres of Land @20Acres(5Bushels = 1 acre) 100
Wheat 223
Seed 0
Fertilizer 0
Cow (With Deprecitaed Value) 36
Total CA 359
Noncurrent Assets (NCA) Bushels
Nil Noncurrent Assets 0
Total NCA 0
Total Assets (CA+NCA) 359
Balance Sheet of Ivan's Farm at the End of Season
Assets
Current Liabilites (CL) Bushels
Feyador (Plowmaker) 3
Total CL 3
Noncurrent Liabilites ( NCL) Bushels
Nil Noncurrent Liabilities 0
Total NCL 0
Owner's Equity (OE) Bushels
Equity (From Landlord) 162
Retained Earning (This includes 20 Bushels which Lord Took 194
Total OE 356
Total Liabilities & Owners Equity (CL+NCL+OE) 359
Balance Sheet of Ivan's Farm at the End of Season
Liabilities & Owners Equity
Current Assets (CA) Bushels
Acres of Land @10Acres(5Bushels = 1 acre) 50
Seed 10
Fertilizer @10 Pounds (20 Pounds=2 Bushels) 1
Cow 40
Total CA 101
Noncurrent Assets (NCA) Bushels
Nil Noncurrent Assets 0
Total NCA 0
Total Assets (CA+NCA) 101
Total Liabilities & Owners Equity (CL+NCL+OE)
Balance Sheet of Fredricks's Farm at the Beginning of Season
Assets
Current Liabilites (CL) Bushels
Nil Current Liabilities 0
Total CL 0
Noncurrent Liabilites ( NCL) Bushels
Nil Noncurrent Liabilities 0
Total NCL 0
Owner's Equity (OE) Bushels
Equity (From Landlord) 101
Total OE 101
Total Liabilities & Owners Equity (CL+NCL+OE) 101
Balance Sheet of Fredricks's Farm at the Beginning of Season
Liabilities & Owners Equity
Current Assets (CA) Bushels
Acres of Land @10Acres(5Bushels = 1 acre) 50
Wheat 105
Seed 0
Fertilizer 0
Cow (With Deprecitaed Value) 36
Plow (Since it can Run for 2 more years) 2
Total CA 193
Noncurrent Assets (NCA) Bushels
Nil Noncurrent Assets 0
Total NCA 0
Total Assets (CA+NCA) 193
Balance Sheet of Fredrik's Farm at the End of Season
Assets
Current Liabilites (CL) Bushels
Nil Noncurrent Liabilities 0
Total CL 0
Noncurrent Liabilites ( NCL) Bushels
Nil Noncurrent Liabilities 0
Total NCL 0
Owner's Equity (OE) Bushels
Equity (From Landlord) 101
Retained Earning (This includes 30 Bushels which Lord Took) 92
Total OE 193
Total Liabilities & Owners Equity (CL+NCL+OE) 193
Balance Sheet of Fredrik's Farm at the End of Season
Liabilities & Owners Equity
Revenue (Wheat) Bushels
Present Stock of Wheat 223
Lords Personal Use 20
Total Bushels Produced 243
Expenditure Bushels
Seed 20
Fertilizer @20 Pounds (20 Pounds=2 Bushels) 2
Ox Depreciation 4
Plow Damage (3 Bushels should be given to Plow) 3
Given to Lord (for Free) 20
Total 49
Net Income (R-E) 194
INCOME STATEMENT OF IVAN
Revenue (Wheat) Bushels
Present Stock of Wheat 105
Lords Personal Use 30
To Plow Maker 3
Total Bushels Produced 138
Expenditure Bushels
Seed 10
Fertilizer @20 Pounds (20 Pounds=2 Bushels) 1
Ox Depreciation 4
Plow Damage (3 Bushels should be given to Plow) 1
Given to Lord (for Free) 30
Total 46
Net Income (R-E) 92
INCOME STATEMENT OF FRED
Wheat Prod Acre Wheat/Acre
Ivan 243 20 12.15
Fred 138 10 13.8
Profit
Ivan 214 20 10.7
Fred 122 10 12.2
Fred is the Better Farmer