Publications > Forest Landowners Guide to the Federal Income Tax, Ag. Handbook No. 718

Table 15-1. Evergreen Tree Farm Accounts

Ref.	Debits	Credits			Ref.	Debits	Credits
	$	$				$	$
1. Cash Account					6. Interest Expenses
1		2,500			11	9,285
2		75,000			35	13,992
3		4,000			36		13,992
11		11,710			7. Travel Expenses
12		421			33	276
13		1,696			36		276
14		820			8. Operating Expenses
15		10,950			12	421
16	21,900				9. Truck Maintenance
17	197,100				13	217
19		12,500			10. Bridge Maintenance
20		930			13	582
21	5,000				20	352
23		3,600			11. Road Maintenance
25		1,800			13	897
26		384,900			20	578
27		6,400			12. Property Tax Expense
33		276			14	820
34		1,280			34	1,280
35		20,084			36		1,280
38	1,200				13. Timber Stand Improvement
2. Temporary Capital Account					25	1,800
1	2,500				14. Timber Sale Revenue
2	275,000				16		21,900
3	4,000				17		197,100
4		281,500				Bal. Fwd.	219,000
26	384,900				15. Cost of Timber Sold (Basis)
27	6,400				18	97,100
28		391,300			16. Expenses of Sale
36	15,584				15	10,950
37		15,584			17. Amortization of Reforestation
3. Mortgage Payable					22	509
2		200,000			24	1,262
11	2,425				18. Hunting Lease
	Bal Fwd	197,575			38	1,200
*******
	Bal Fwd	177,531
35	6,092	*
4. Depreciation Expense
10	521
5. Accumulated Depreciation
10		521