Workshop (Continued from Page 42) To be successful, it’s important to “wear separate hats.” Farmers have to understand they are an “employee” of the farm operation and use a “draw” from the business entity as compensation. • If we claim depreciation against the mixer wagon, it affects assets and liabilities. We decrease assets and increase expenses, which lessens equity. When using depreciation, make use of economic depreciation rather than tax depreciation, which has more cost benefits in the long run. • We purchase fertilizer on an account with a dealer for immediate use on a field increasing lia bility and decreasing equity. Hilty noted this can distort the profit and loss statements at a certain point in time. These types of decisions can affect any one or two jf the accounting types in the equation. Attendees were challenged to answer a variety of questions about possibilities. One question is there a way to increase assets and increase ex penses? No one had an answer, because “you cannot increase an asset and increase an expense,” (Turn to Page 45) FevfoeH Bags or Bulk in most items - You Mix or We Mix Store: 717-665-5001 Mill; 717-665-6122 $OO-648-2968 jy FERTILIZERS & SOIL f CONDITIONERS ' Just Ask for a Fertrell Representative to Develop a Personalized Fertilizer Plan For You, - PENNSYLVANIA ■ GROVES MILL CURT FALCK Lewisburg, PA (570) 524-2436 CHRIST B. MILLER Bird-In-Hand, PA DAVID LITCHARD Danville, PA (570) 437-6954 MEADVILLE FARM & GARDEN Meadville, PA (814) 333-8421 5M FEEDS Warren, PA (814) 723-9471 5M FEEDS Titusville, PA (814) 827-7387 G! FEED & SUPPLY, INC. Manheim, PA mjr The Best Quality Dairy Feeds Full Line of Dairy Feed Ingredients For A Healthier Herd SALT - Livestock, Water Softener Block or Pallets • Whole Cotton Seed • Toasted Flaked Beans • Dical • 48% Soybean Meal • Blood Meal • Selenium • Light Corn Distillers • Corn Gluten Meal • Bicarb • Soy Hulls • Dry Molasses • Magox • Corn • EnerGll™ • Yeast • Barley • Megalac™ • RenPlus • Oats • Feed Calcium • Liquid Molasses • Bran • Bio-fos • Fish Meal • Enertia • Mono-fos • Flo-Bond HEALTHIER LIVESTOCK PRODUCTS • Aureomycm 4G cr • Cattle dust bags • Aureo S-700 cr • Electrolytes • Terramycm 2G cr • Today & tomorrows • Safe guard wormers mastitis tr • Aspirin Bolus • Fly sprays • Bovatec • Rodentcide HARES VALLEY GROWERS Mapletone Depot, PA (814) 448-2784 ZIMMERMAN LIME & FERTILIZER Lititz, PA (717) 733-7674 DON BRUBAKER Strasburg, PA (717) 367-1566 RICHARD TREGIDGO Pleasant Mount, PA (717) 448-2374 RALPH STAUFFER East Earl, PA (717) 367-1566 BASE ORGANICS West Lawn, PA Cobleskill NY 717-367-1566 (610)927-1942 (518)234-2527 www.fertrell.com WEMPLE’S LANDSCAPE Old Chatham, NY (518) 794-9340 HUBERT DERSTINE Emlenton, PA (814) 358-2217 THOMPSON FARM MCLAUGHLIN Coudersport, PA (814) 274-7430 STAN CARPER Norwich, NY (607) 334-2833 ROBERT TRUMBULL Fort Plain, NY (518) 993-3452 LARRY LEWIS Milroy, PA (717) 250-4160 DONALD MERRITT & SON Hydes, MD Penn Yan, NY (315) 531-1906 DON BEAVER Cuba, NY (716) 968-3161 (410) 592-2467 GLENN MARTIN Hagerstown, MD (301) 733-0796 - NEW YORK THE FEED BAG JIM Box 265, Bainbridge, Pa. 17502
Significant historical Pennsylvania newspapers