1ST TERM JSSS3 AGRICULTURAL SCIENCE Scheme of Work and Note

FIRST TERM

SUBJECT: AGRICULTURAL SCIENCE CLASS: JS3

SCHEME OF WORK

WEEK  TOPIC

1. REVISION OF JSS 2 WORK
2. PACKAGING IN AGRICULTURE
3. BRANDING: DEFINITION, ADVANTAGES AND DISADVANTAGES
4. PRICING OF AGRICULTURAL PRODUCE
5. ADVERTISING IN AGRICULTURE
6. MARKETING IN AGRICULTURE
7. FARM RECORDING
8. BOOK KEEPING
9. FARM ACCOUNT I
10. FARM ACCOUNT II
11. REVISION

REFERENCE BOOKS

1. Junior Secondary Agricultural for Nigeria School Book 3. By Anthony etal.
2. Prescribed Agricultural Science for Junior School by: S.A. Omoruyi

   WEEK TWO

TOPIC: PACKAGING IN AGRICULTURAL

CONTENT

• Meaning of Packaging
• Purpose of Packaging
• Criteria for selecting packaging materials
• Types of packaging materials

MEANING OF PACKAGING

Packaging is the act of wrapping or enclosing agricultural products in a suitable material that will protect them when they are being transported from farms to markets and displayed in shops for people to buy.

PURPOSE OF PACKAGING

1. To protect the product from being damaged when they are transported from the farm to the stores and markets.
2. To protect farm products from damage as a result of bad weather, heat and rain.
3. To protect farm products from contamination and damage by pests and disease organisms.
4. Packaging makes agricultural products easier to handle, store and more attractive in shops.
5. To prevent products from losing their value.

EVALUATION

1. What is packaging?
2. List five purposes of packaging.

CRITERIA FOR SELECTING PACKAGING MATERIALS

1. The packaging material must be suitable for the type of agricultural products.
2. Packaging material for animal products should be different from materials used for packaging plants.
3. It must be capable of preventing farm products from breakage, leakage and damage to the farm.
4. The packaging container must enclose the product in a convenient unit for handling and distributing.
5. It must be strong enough to protect the agricultural products from hazards during transportation.
6. It must be easily available and cheap.
7. It must make it easy to carry the Agricultural products in terms of weight and form.
8. It should be easy to dispose off after use.

TYPES OF PACKAGING MATERIAL FOR AGRICULTURAL PRODUCTS

1. Jute or Calico Sacks: For packaging dried Agricultural products such as maize, rice, cowpea, millet, sorghum, dried cocoa, beans etc.
2. Plastic or Polythene bags: Used for packaging flour products such as: maize flour, cassava flour etc
3. BownKrafts: Used for packaging small quantity of dried grains e.g. rice, beans, maize etc. displayed for sale on shop shelves
4. Cardboard Boxes and Trays: For packaging products such as eggs, pineapples, mangoes and bananas.
5. Hard Plastic Containers: They are manufactured specially for carrying vegetables.
6. Plastic Wrappers: Used for wrapping breed, for dressed chicken for sale in shops and markets.
7. Wooden Crates: For packaging fresh fruits such as tomatoes, mangoes, avocado pear etc.
8. Plastic Bottles: For packaging liquid such as vegetable oil, milk etc.
9. Glass Bottles and Jars: For packaging liquid such as honey, palm wine, Coconut Oil, Palm Oil etc.
10. Metal Drums and Cans: Metal drums are used to package large quantities of liquids vegetable Oil e.g. Palm Oil, Corn Oil. Metal Cans are used for packaging fish such as Sardines and Mackerels.
11. Baskets: They are made locally from raphia, palm frond etc. They are very useful in packaging fruits and vegetables.

     

GENERAL EVALUATION

1. What is Packaging?
2. List three purpose of packaging.
3. List three criteria for selecting packaging materials.
4. List five packaging materials.
5. List five items that a basket can be used to package.

READING ASSIGNMENT

Junior Secondary Agricultural for Nigerian Schools 3 by Anthony

Chapter 1, Pages 1-7

WEEKEND ASSIGNMENT

SECTION A

1. Fish products are packaged with the aid of ___ (a) Basket (b) Can (c) Bottle (d) Drum
2. Which of these is not a packaging material (a) Tray (b) Jute Sack (c) Polythene

   (d) Sieve

3. ___is used to store large quantity of vegetable oil for export (a) Cans (b) Plastic Bottles (c) Metal drums (d) Baskets
4. Cocoa beans is best packed in the ___ (a) Polythene bag (b) Jute bag (c) Baskets

   (d) Cans

5. The best packaging material for bread is ____ (a) Wooden Crates (b) Plastic wrappers (c) Crates (d) Jute bag

THEORY

1. What is packaging?
2. (a) List five packaging materials.

   (b) List five reasons for packaging.

WEEK THREE

TOPIC:  BRANDING

CONTENT

• Definition of Branding
• Advantages of Branding
• Disadvantages of Branding

DEFINITION OF BRANDING

This is the activity of giving a particular name and lineage to goods and services, so that people will be attracted to them and want to buy them.

ADVANTAGES OF BRANDING

1. It helps in easy identification of agricultural product.
2. It helps the buyer to easily remember what they want to buy.
3. It adds a measure of prestige to the product.
4. It helps in maintenance of quality.
5. The producer may enjoy some forms of monopoly when goods are branded.
6. It prevents product adulteration.
7. It helps to increase sales (turn over) of farm produce.

DISADVANTAGES OF BRANDING

1. It increases the cost of production.
2. Some products are difficult to brand e.g. vegetables and fruits.
3. It causes confusion among the consumers.
4. Producers do find it difficult to maintain consistent quality.

GENERAL EVALUATION

1. What is branding?
2. List three advantages of branding.
3. List three disadvantages of branding.
4. List five materials used in packaging.
5. List two purposes of advertisement.

Branding is a marketing technique used by businesses to create a desired image for a product or company in the minds of the consumer. Examples can demonstrate to small business owners how to use branding effectively for their enterprise.

Symbols

Branding often takes the form of a recognizable symbol to which consumers easily identify, such as a logo. Common examples include the Nike “swoosh,” the golden arches of McDonald’s and the apple used by Apple Computers. Logos typically appear on all products in some form and are used in advertising and promotional campaigns. The most successful symbols allow consumers to identify a product or company even if the name is not visible.

Slogans

Like symbols, slogans build a brand image. Slogans are successfully used in industries such as insurance to make consumers associate insurers with trust, such as “Nationwide is on your side,” “You’re in good hands with Allstate” and “Like a good neighbour, State Farm is there.” As with well-known logos, successful slogans become ingrained in the minds of consumers and may remain there for as long as the company stays in business.

Differentiation

Companies can use branding to differentiate themselves from the competition. For instance, a business can position itself as being an innovator, indicating that its competitors offer the same products or services it has been providing for years. In a time where environmental concerns are important to consumers, a business can also attempt to brand itself as operating more cleanly and efficiently than the competition. Another common technique is to use branding to create an image of always offering the lowest prices.

READING ASSIGNMENT

Junior Secondary Agriculture for Nigeria Schools, book 3, pages 20-24

WEEKEND ASSIGNMENT

1. The following are disadvantages of branding except(a) It increases the cost of production (b) Some products are difficult to brand e.g. vegetables and fruits (c) It causes confusion among the consumers (d) it increases sales
2. Preserved fishes are best kept in ______. (a) metal drums (b) baskets (c) cans (d) bottles
3. There is only one seller in ______. (a) monopoly  (b) duopoly  (c) oligopoly  

   (d) Monopsony

4. Addition of substandard constituent to an agricultural productis called ______.(a) robbery (b) theft(c) adulteration(d) pollution
5. ______ helps in the easy identification of farm produce. (a) branding (b) marketing(c) sales  (d) input

THEORY

1. What is branding?
2. (a) List three advantage of branding

   (b) List two disadvantage of branding

WEEK FOUR

TOPIC: PRICING OF AGRICULTURAL PRODUCTS

CONTENT

• Meaning of price
• Meaning of Market
• The concept of demand and supply
• Factors that determine Pricing of Agricultural Produce.

MEANING OF PRICE

The price of an agricultural product is the amount of money which a product is to be paid by people who desire to buy the products.

MEANING OF MARKET

A market is described as the specific place where producers and buyers meet for exchange of materials. The price of any agricultural product depends on the environment which is called.

EVALUATION

1. What is Price?
2. What is a Market?

THE CONCEPT OF SUPPLY AND DEMAND

Supply: The supply of a product is the total quantity of the product that producers offer for sale in the market.

Demand: The demand of a product is the total quantity of the product desired by all traders and customers for the product.

DETERMINATION OF PRICE BY SUPPLY AND DEMAND

If the supply of an agricultural product is low, which means there is a shortage of the product in the market, many people will want the product and some traders and customers will be prepared to pay extra money to buy the product. In this situation, the price of the product will be high.

When the supply of an agricultural product is high, it means there is a large quantity of the product in the market; some producers will be willing to sell for a low price, to attract buyers. The price of the product will therefore be low.

EVALUATION

1. Define demand and supply.
2. Explain how demand and supply affects prices.

FACTORS THAT DETERMINE PRICING OF AGRICULTURAL PRODUCE

1. Cost of production: the production costs are put into consideration to fix the selling price of any agricultural produce.
2. Quantity of Produce: if the farmer produces a large quantity of produce to make the market saturated the selling price will fall, vice versa.
3. Quality of produce: the demand for high quality produce is high, therefore the selling price of such produce is also high.
4. Demand and supply.
5. Market Places: the farther the distance to the site of production, the higher the selling price. Also farm produce sells more in cities than villages where the demand is low.
6. Seasons: The prices of crops are low at their seasons of production and high when their season is gone.

GENERAL EVALUATION

1. What is demand?
2. What is supply?
3. What is a market?
4. Explain how demand affects pricing.
5. List 5 factors that determine Pricing.

READING ASSIGNMENT

Junior Secondary Agriculture for Nigeria School, Book 3, Chapter 2, Pages 11-15

WEEKEND ASSIGNMENT

1. The amount of money which producer asked to be paid for his product is ___ (a) cast  (b) value  (c) Price  (d) money
2. A place where exchange of good and services for money takes place is called ___ (a) Restaurant  (b) school  (c) public toilet (d) market
3. The quantity of goods which the producer offer for sale in the market is the ___ (a) Supply  (b) demand  (c) invoice  (d) sales
4. When the supply is high, the selling price ___.

   (a) falls(b) increases  (c) is constant(d) appreciates

5. When the demand is more than what is supplied, the price ___.

   (a) falls  (b) increases (c) is constant(d) depreciated

THEORY

1. (a) What is a market?
   1. Define demand and supply.
2. Explain how the demand and supply affects prices.

WEEK  FIVE

TOPIC: ADVERTISING AGRICULTURAL PRODUCE

CONTENT

• Meaning of Advertisement
• Purpose of Advertisement
• Method of Advertisement

THE MEANING OF ADVERTISEMENT

This is the act of making people to know about agricultural products that are being produced and marketed by individuals and organisations.

PURPOSE OF ADVERTISING AGRICULTURAL PRODUCTS

1. To attract people to buy the product.
2. To create awareness about the farm produce available.
3. To make customers develop interest in the farm produce.
4. To increase the income of the agricultural product.

METHODS OF ADVERTISING AGRICULTURAL PRODUCTS

Agricultural products are advertised through the following means:

1. Local newspaper.
2. Mass media such as radio and Television.
3. The bill boards.
4. Use of handbill, pamphlets and bulletins.
5. Through the social media such as Facebook, instagram, etc.
6. Through mobile phones.

Information provided to advertise agricultural products are:

1. The common trade name of the product.
2. The high qualities of the product.
3. Where the product can easily be obtained.

GENERAL EVALUATION

1. What is a market?
2. List two examples of local markets in Lagos.
3. Define Advertisement.
4. List three purposes of advertisement.
5. List four means of advertising agricultural products to the consumers.

Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services. Advertising is differentiated from public relations in that an advertiser pays for and has control over the message. It differs from personal selling in that the message is non-personal, i.e., not directed to a particular individual.

Advertising is communicated through various mass media,including traditional media such as newspapers, magazines, television, radio, outdoor advertising or direct mail and new media such as search results, blogs, social media, websites or text messages. The actual presentation of the message in a medium is referred to as an advertisement, or “ad” or advert for short.

Commercial ads often seek to generate increased consumption of their products or services through “branding“, which associates a product name or image with certain qualities in the minds of consumers. On the other hand, ads that intend to elicit an immediate sale are known as direct-response advertising. Non-commercial entities that advertise more than consumer products or services include political parties, interest groups, religious organizations and governmental agencies. Non-profit organizations may use free modes of persuasion, such as a public service announcement. Advertising may also help to reassure employees or shareholders that a company is viable or successful.

READING ASSIGNMENT

Junior Secondary Agriculture for Nigerian Schools, Book 3, Pages 16-17

WEEKEND ASSIGNMENT

1. Text messages can be used to advertise on ___. (a) radio (b) television (c) mobile phones(d) bill boards
2. Facebook is a/an ___. (a) handset  (b) newspaper  (c) handbill  (d) social media
3. Advertisement is done to create ___ about a new Agricultural produce.

   (a) Income(b) awareness  (c) service  (d) education

4. Plastic bottles are used in storing ___.

   (a) Oil  (b) groundnut  (c) millet (d) cocoa beans

5. Liquids of large quantities are packaged using ___.

   (a) cans(b) bottles (c) sacks (d) metal drums

THEORY

1. What is advertisement?
2. (a) List three purposes of advertisement

   (b) List three means of advertisement

WEEK SIX

TOPIC: MARKETING IN AGRICULTURE

CONTENT

• Meaning of market and marketing
• Agricultural marketing activities
• Types of marketing for Agricultural Produce

MEANING OF MARKET AND MARKETING

A market is a place where farmers exchange agricultural produce such as yams for money.

Agricultural marketing involves all activities from gathering of agricultural produce from farms to getting them to the customers.

AGRICULTURAL MARKETING ACTIVITIES

This involves the activities such as assembling, grading, processing, packaging, storage, transportation and distribution.

1. Assembling: this involves collection of products from various locations in order to make them available in large quantity for the buyers.
2. Grading: Products are sort into grads depending on their shape, size, quality, purity, flavor etc. this is done to ensure high standards of agricultural products.
3. Processing: Processing is the conversion of farm product into a better form to increase the utility and value. E.g. orange can be processed to orange juice.
4. Packaging: This involves the placing of farm products in crates, boxes or egg containers. This makes transportation easy to carry out.
5. Storage: Farm produce are preserved and kept to make it available to consumers most of the time.
6. Transportation: It is necessary to move agricultural produce from the farm to the market so that the customers can find them to buy.
7. Distribution: Traders, wholesalers and retailers are involved in the distribution of farm produce to their customers.

EVALUATION

1. What is marketing?
2. List and explain five marketing activities.

TYPES OF MARKETS FOR AGRICULTURAL PRODUCE

1. Perfect competition market: In this type of market, there are many buyers and sellers.
2. Imperfect competition: The decision of one or more sellers or buyers affects the price of the commodity. The forms of imperfect market are:
   1. Monopoly: When there is one seller and more buyers.
   2. Duopoly: When there are two sellers.
   3. Oligopoly: Where there is a small numbers of sellers.
   4. Monopsony: When there is only one buyer.
   5. Duopsony: When there are two buyers.
   6. Oligopsony: When thereare small number of buyer.

GENERAL EVALUATION

1. What is a market?
2. What is marketing?
3. List five Agricultural marketing activities
4. List two types of market
5. Explain, grading, processing, packaging and storage.

READING ASSIGNMENT

1. A place where buyers and sellers meet for exchange of goods is called _____. (a) field  (b) shops  (c) market  (d) hospital
2. The act of placing farm products in crates is called _____. (a) packaging  (b) storage

   (c) parking  (d) distribution

3. A situation where there is only one buyer is called _____. (a) duopoly (b) monopoly(c) oligopoly  (d) joint
4. The quantity of goods which the producers offer for sale in the market is _____(a) supply (b) demand (c) scale (d) Invoice
5. Duopoly involves _______ sellers (a) one (b) three (c) four (d) two

THEORY

1. List and explain two marketing activities.
2. Define the following: (a) Monopoly (b) Duopoly (c) Oligopoly (d) Monopsony

WEEK SEVEN

TOPIC: FARM RECORDS

CONTENT

• Meaning of Farm Records
• Purpose of Keeping Farm Records
• Types of Farm Records

MEANING OF FARM RECORD

Farm record is the documentation of various events which happens on a farm.

Purpose of Keeping Record

1. It is useful for future planning
2. It can be used as part of collateral for loan
3. It helps the farmer to know whether he is making a profit or loss
4. It helps the farmer to know the state of things on the farm
5. It helps to detect fraudulent acts
6. It help in farm management decision taking.

EVALUATION

1. What is farm record?
2. List two purpose of keeping farm records

TYPES OF FARM RECORDS

The types of farm records include; farm dairy, farm inventory, input records, production records, sales record, and consumption records etc.

1. The Farm Diary
   

This contains the record of day-to-day events on the farm. This includes the dates of planting, germination, flowering, the amount of farm input such as pesticides, fertilizer and so on, the date of birth of the younganimals etc.

1. The Farm Inventory
   

This is the record of all the property and resources in the farm which are owned by the farmer, these includes the building, livestock, machines, equipment and so on.

1. Input Records
   

This is the record of all inputs used for production in the farm during the year; these includes the cost of seeds, cost of feeds, cost of drugs, cost of tools, cost of equipment etc.

1. Production Records
   

This is the record of all items produced on the farm. Such items include the crops and livestock.

1. Consumption Records
   

This is the record of all farm products consumed by the owner of the farm.

1. Sales Records
   

This is the record of the sales on the farm; it enables the farmer to know whether he is making profit or loss.

GENERAL EVALUATION

1. What is advertisement?
2. List three purpose of advertisement
3. List three purpose of keeping farm records
4. List five types of farm records
5. State the uses of the following farm records:
   1. Inventory (ii) Farm diary (iii) Input (iv) Production record (v) Sales record

READING ASSIGNMENT

Junior Secondary Agriculture for Nigeria Schools, Book 3, Chapter 4, Pages 27-32

WEEKEND ASSIGNMENT

1. The record of all assets of the farm are kept in _____(a) Register (b) Diary (c) Note (d) Inventory
2. Food Items used by the farm owners are recorded in ___ record (a) Sales (b) Consumption (c) Inventory (d) Cash
3. The documentation of farm events is called ___ (a) Revenue (b) diaries (c) Inventory (d) farm record
4. Day to day events on a farm are written in ___ (a) Sales record (b) Farm dairy (c) Production record (d) Input record
5. Materials used on the farm are recorded in the ___ (a) Output record (b) Input record (c) Sale record (d) Production

THEORY

1. What is inventory record?
2. List five advantages of keeping farm records.

WEEK EIGHT

TOPIC: BOOK KEEPING

CONTENT

• Meaning of Book Keeping
• Source Document
• Journals

BOOK KEEPING

This is the act of recording business transaction in a systematic manner so that the books will show at any time the exact state of their owners affairs.

SOURCE DOCUMENT

They are those documents that form the source of book keeping records. They are documents of initial transactions from which book keeping records are made or kept.

EVALUATION

1. What is Book Keeping?
2. What are source document?

TYPES OF SOURCE DOCUMENTS

1. Sales Invoice:  These are out going invoice.
2. Purchase Invoice: These are incoming invoice issued by the creditors or suppliers.
3. Receipt: This is evidence of cash payment.
4. Voucher: This is the evidence of payment or receipt with a brief detail in respect of the transaction.
5. Credit note: This is sent to inform the receiver that this account is credited as a result of an overcharge.
6. Debit note: It shows that the receiver’s account is debited as a result of undercharge etc.

JOURNALS

These are the books of original entry, that is, where transactionare first recorded before they are transferred to the ledger. They are also called the subsidiary books or books of prime entry. They can be listed as follows,

1. Cash book/Cash account
2. Sales book / Sales day book/Sales Journal
3. Purchases book/purchases day book/Purchase journal
4. Return inward book / Sales return book / Sales return journal
5. Purchases returns book/return outward book/Return outward journal
6. General journal /Principal journal / Journal proper

GENERAL EVALUATION

1. What is Book Keeping?
2. What are source documents?
3. List five examples of source document.
4. What is advertisement?
5. What is packaging and list any two examples?

    

READING ASSIGNMENT

Junior Secondary Agricultural for Nigerian Schools 3 by Anthony etal chapter 1, Pages 1-7

WEEKEND ASIGNMENT

1. Text messages can be used to advertise on ____. (a) radio (b) television (c) mobile phones (d) bill boards
2. Facebook is a/an ____ (a) handset  (b) newspaper  (c) handbill  (d) social media
3. Advertisement is done to create _____ about a new Agricultural produce. (a) income (b) awareness  (c) service  (d) education
4. Day to day events on a farm are written in ____ (a) Sales record (b) Farm dairy (c) Production record (d) Input record
5. Materials used on the farm are recorded in the ____ (a) Output record (b) Input record (c) Sale record (d) Production

THEORY

1. What is book keeping?
2. List five source documents and state their uses.

WEEK NINE

TOPIC: FARM ACCOUNT

CONTENT

• Meaning of Farm Accounts
• Importance of Farm Account
• Types of Farm Accounts

MEANING OF FARM ACCOUNTS

Farm Accounts are statement of money paid out or received for goods and services in a farming business.

Money is received due to sales of farm produce or loans from other sources while money is paid out for purchases of farm produce or settlement of debts.

IMPORTANCE OF FARM ACCOUNTS

1. It helps to monitor the changes in prices of items bought or sold on the farm.
2. It shows the financial position of the farm.
3. It shows whether profit or loss is made.
4. It is useful in taking management decision.
5. It is useful in procurement of loans.
6. It helps to determine animal tax.

EVALUATION

1. What is Farm Account?
2. List five importance of Farm Account.

TYPES OF FARM ACCOUNTS

1. Sales Account: It shows the details of farm products sold, this includes; the types of product sold; the quantity, date sold, to whom and at what price.
2. Purchase Account: It shows the details of items purchased for use on the farm. This includes the name of input, date purchased, number of input, quantity and the cost.
3. Farm Valuation: It contains information that helps to determine the value of the farm.
4. Balance Sheet: It shows the capital or financial position of the farm at the end of the accounting period, usually a year. It is also called the Net worth.
5. Farm Income statement: It comprises all the farm receipts (sales) and expenses earned on the farm over a specific period of time.
6. Cash Analysis Account: It shows the details of income and expenditure of a farm over a period of time.
7. Profit and Loss Account: It shall be discussed next week.

GENERAL EVALUATION

1. What is farm account?
2. List four importance of Farm Account.
3. List five types of Farm Account.
4. State the uses of farm income statement.
5. State the uses of cash analysis account.

READING ASSIGNMENT

Junior Secondary Agriculture for Nigeria Schools, Book 3, Chapter 4, Pages 32-34

WEEKEND ASSIGNMENT

1. Farm accounts helps to monitor changes in ___

   (a) activities (b) prices (c) work (d) weather

2. Farm account shows the financial _____ of a farm (a) rest (b) work (c) angle (d) position
3. Items purchased on the farm are recorded in ___ account (a) sale (b) purchase (c) income (d) expenditure
4. Day to day events on a farm are written in farm _____ (a) register (b) dairy (c) account (d) inventory
5. Farm Inventory are used for taking record of ______ (a) assets (b) liabilities (c) income (d) expenditure

THEORY

1. What is farm account?
2. State the use of the following:
   1. Cash analysis account.
   2. Farm income statement.

WEEK TEN

TOPIC: PROFIT AND LOSS ACCOUNT

CONTENT

• Meaning of profit and loss account
• Importance of profit and loss account
• Principles of profit and loss account
• Calculations on profit and loss account

MEANING OF PROFIT AND LOSS ACCOUNT

This is the type of account prepared at the end of a business period, usually a year, by the farmer with the purpose of knowing whether the business is making a profit or loss.

IMPORTANCE OF PROFIT AND LOSS ACCOUNT

1. It helps to know whether the farm is making a profit or loss
2. It helps to determine the overall performance of the farm at the end of the accounting period.
3. It aids the future planning of the farm for better results.

EVALUATION

1. What is profit and loss account?
2. List three importance of profit and loss account.

PRINCIPLES OF PROFIT AND LOSS ACCOUNT

1. Expenses and purchases are recorded on the left hand side (debits side) and all receipts and sales are recorded on the right hand side.
2. Closing valuation is put on the right side while the opening valuation is put on the left.
3. Item consumed are recorded on the credit side.

Calculations on profit and loss account Example:

Prepare a profit loss account for Segun farms for the year ended 31/12/94

1. Cost of feed =  500
2. Cost of drugs =  200
3. Sales of eggs =  2000
4. Eggs for domestic =  200
5. Loss due to mortality  =  300
6. Value of stock left =  600
7. Farm wages =  400
8. Sales of spent layers  =  1000
9. Transportation cost  =  300
10. Depreciation =  200
11. Net profit =  1600

Solution

Debit Credit

GENERAL EVALUATION

1. What is farm account?
2. State the use of cash analysis account.
3. State the use of farm income statement.
4. What is profit and loss account?
5. State the principle of profit and loss account.

READING ASSIGNMENT

Junior Secondary Agriculture for Nigeria Schools, Book 3, Chapter 4, Pages 32-34

WEEKEND ASSIGNMENT

1. Closing valuation is written on the ___ hand side (a) right (b) left (c) centre (d) middle
2. Items consumed are recorded on the ___ hand side

   (a) credit (b) debit (c) upper (d) lower

3. Opening valuation is written on the ___ (a) debit (b) credit (c) centre (d) down
4. The place where buyers and sellers meet for the exchange of goods is ___ (a) field (b) shop (c) hospital (d) market
5. Duopoly involves ___ sellers (a) one (b) two (c) three (d) four

    

THEORY

1. What is profit and loss account?
2. List three principles of keeping profit and loss account.