Previous post listed the cash transactions in the estate of my paternal grandfather from the day he passed away until a probate filing was prepared for the court.
The probate filing provides a glimpse into farm life in the mid-1940s.
As you read the summarized income statement and cash transactions below, keep in mind this is the cash activity to feed and cloth a family consisting of one mom and four children still living at home. Notice was one purchase of groceries for $9.60 and only two purchases of clothing. There is no indication of any purchases in November or December which could be considered Christmas presents.
To say finances were tight would be an understatement.
The cash transactions can be summarized into a cash-based income statement as follows: