Cash-based income statement of farm in 1945/1946 – part 4

Daniel Ulvog. Date unknown but prior to June 1945. Photo provided by Sonia Pooch.

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:

Cash, June 1, 1945       391.26
proceeds from selling assets    3,950.88
income       110.00
purchase of assets, primarily animals     (514.75)
farming expenses     (176.05)
taxes paid       (31.74)
land rent, 80 acres     (500.00)
housing expense     (157.72)
gas and oil purchased     (174.43)
coal purchased       (37.70)
loan payment   (2,103.76)
final expenses (attny, funeral)     (755.99)
Cash, March 27, 1946             –

 

In chronological order, the cash transactions are as follows, with a running balance of cash on hand.

 date  description  amount  balance
6/1/1945 balance of cash at death       391.26     391.26
6/29/1945 sold 19 head of cattle    2,509.32   2,900.58
9/1/1945 Yankton Prod Cred – balance of loan   (2,103.76)     796.82
9/17/1945 Cemetery lot       (15.00)     781.82
9/22/1945 household furniture       (79.95)     701.87
9/27/1945 surety bond       (40.00)     661.87
10/2/1945 Cooperative Oil, gas and oil       (28.07)     633.80
10/2/1945 insurance assessment         (3.00)     630.80
10/5/1945 sold 3 hogs       105.94     736.74
10/9/1945 Montgomery Ward, clothing         (2.46)     734.28
10/9/1945 Sears, tires for trailer       (55.42)     678.86
10/10/1945 Cooperative Oil, gas and oil       (21.17)     657.69
10/12/1945 Montgomery Ward, clothing, repairs       (12.87)     644.82
10/29/1945 sold 11 hogs       635.62   1,280.44
11/13/1945 Cooperative Oil, gas and oil       (47.12)   1,233.32
11/15/1945 Cooperative Oil, gas and oil       (49.65)   1,183.67
11/27/1945 Cooperative Oil, gas and oil       (20.26)   1,163.41
12/11/1945 Wass Funeral Home, funeral     (366.23)     797.18
12/24/1945 sell hogs (number not listed)       100.00     897.18
12/26/1945 Cooperative Oil, gas and oil       (17.50)     879.68
1/14/1946 Cooperative Oil, gas and oil       (16.10)     863.58
1/15/1946 chickens purchased     (162.50)     701.08
1/22/1946 purchase 1 cow       (50.00)     651.08
1/22/1946 Cooperative Oil Co. gas dividend         60.14     711.22
1/23/1946 groceries         (9.60)     701.62
1/26/1946 veterinary fees         (7.50)     694.12
2/6/1946 purchase 1 cow       (43.75)     650.37
2/8/1946 coal       (14.00)     636.37
2/9/1946 coal       (23.70)     612.67
2/11/1946 Cooperative Oil, gas and oil       (16.00)     596.67
2/12/1946 one cow and one calf     (167.50)     429.17
2/13/1946 Loan       (90.00)     339.17
2/15/1946 purchase hammer mill       (91.00)     248.17
2/22/1946 shelling and hauling corn     (113.13)     135.04
2/23/1946 Sell International Truck       600.00     735.04
2/25/1946 linoleum       (46.12)     688.92
2/26/1946 Cooperative Oil, gas and oil       (18.70)     670.22
3/4/1946 1946 cash rent for 80 acres     (500.00)     170.22
3/4/1946 clerk of court, filing fees       (17.50)     152.72
3/4/1946 last half of 1945 taxes       (31.74)     120.98
3/9/1946 life insurance assessment         (3.00)     117.98
3/13/1946 Income from plowing       110.00     227.98
3/16/1946 Vermillion Plain Talk, publication       (17.36)     210.62
3/23/1946 Loan repayment         90.00     300.62
3/27/1946 Attorney fees     (299.90)         0.72
3/27/1946 exchange on checks         (0.72)            –

 

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