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Ivans Opening Balance sheet

Assets Liabilities and Owner's Equity

Seed 20 Baron's Equity 162

Fertilizer 2

Ox 40

Land 100

Total =162Total =162

(in Bushels of Wheat)

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Frederick-Balance Sheet-

Beginning(in Bushels of Wheat)

Assets Liabilities and Owner's Equity

Seed Baron's Equity

Fertilizer

Ox

Land

Total

10

1

40

50

=101

101

=101

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Ivan-Income Statement

Wheat 243

Production Expenses

Seed 20

Fertilizer 2

Ox Usage 4

Plow Usage 3 29

Earnings 214

Owner Withdrawal 20

Income to Retained Earnings 194

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Frederick-Income Statement(in Bushels of Wheat)

Wheat 138

Production Expenses :-

Seed 10

Fertilizer 1

Ox Usage 4

Plow Usage 1 16

Earnings 122

Owner Withdrawal 30

Income to Retained Earnings 92

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Ivan-Balance Sheet-End

(in Bushels of Wheat)

Assets Liabilities and Owner's Equity

Seed 223 Liabilities (Plow) 3

Ox 36 Baron's Equity

Land 100 Contributed 162

Retained 194

Total 359 Total 359

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Frederick-Balance Sheet-End

(in Bushels of Wheat)

Assets Liabilities and Owner's

Equity

Seed 105

Ox 36 Baron's Equity

Plow 2 Contributed 101

Land 50 Retained 92

Total 193 Total 193

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There are different ways of determining better

peasant among them, Which are given below

1. Earning per Acre

Ivan: 243 wheat bushels/20 Acre = 12.15 P/A.

Fed : 138 wheat bushels/10 Acre = 13.8 P/A.

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Guided By :-Dr.Ashish C. Mehta