Activity 2.1
Unit Word Search
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
Fill in the blank with the correct term from the word bank. Find each word within the word search.
_
__________________ 1.
Term for a decline in value over time
__________________ 2.Inventory that is an itemized list of all assets and values pertaining to an SAE at the
start of the record keeping period
__________________ 3.
What is a list of the items or assets a business owns?
__________________ 4.
Possession; item of value that a business owns
__________________ 5.This type of sheet is a listing of all assets and liabilities for comparison and
determination of owner’s equity
__________________ 6.What are items or inventory purchased or sold outside a one-year time period
(non-current)?
__________________ 7.
One part of a total SAE program
__________________ 8.
What are items or inventory purchased or sold within a year’s time (operating)?
__________________ 9.Inventory that is an itemized list of assets and values pertaining to the SAE program
at the close of the record keeping period
__________________ 10. What is the exchange of money for the purchase or sale of assets or supplies?
__________________ 11. Type of SAE that allows a student to own his or her own business
__________________ 12. The amount of money owed on an asset or investment is called _____.
__________________ 13. Transactions where money is spent
__________________ 14. Another term for capital
__________________ 15.Type of SAE that allows a student to explore opportunities in the agriculture
industry
__________________ 16. Another term for current
__________________ 17. A transaction where money is gained is called _____.
__________________ 18. Working for someone for pay or experience is a _____ SAE.
__________________ 19. Money, goods or services in which you own is called a _________.
__________________ 20. This type of SAE is designed to expose students to the scientific side of agriculture.
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Activity 2.1
Unit Word Search
Word Bank
asset
balance
beginning
capital
current
debt
depreciate
ending
enterprise
entrepreneurship
expenses
exploratory
income
inventory
liability
noncurrent
operating
placement
research
transaction
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Activity 2.2
What is an SAE?
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
Match the SAE experience with the type by writing the correct term on the line.
_
Exploratory
_
Research
Entrepreneurship
Placement
__________________ 1.
Build and sell lawn ornaments
__________________ 2.
Operate a lawn mowing business
__________________ 3.
Work as a diesel mechanic assistant
__________________ 4.
Test the strengths of different types of welds
__________________ 5.
Conduct a field demonstration on GPS systems for elementary students
__________________ 6.
Conduct a local water quality study
__________________ 7.
Research the rate of accidents on area farms and compare to national averages
__________________ 8.
Develop a plan to manage school food waste
__________________ 9.
Provide horse training services
__________________ 10. Operate a kennel cleaning service
__________________ 11. Work for the state game and fish department
__________________ 12. Work as a veterinarian assistant
__________________ 13. Research methods of predator control and trapping
__________________ 14. Shadow at a local animal shelter
__________________ 15. Contract with landowners to plant food plots for wildlife
__________________ 16. Work for an orchard manager in cleaning and pruning
__________________ 17. Study the effects of excessive lawn chemicals on wildlife
__________________ 18. Sell gourmet popcorn products
__________________ 19. Interview three companies that process or package food products
__________________ 20. Grow flowers for sale at a local farmer’s market
__________________ 21. Work at the grain elevator during the summer
__________________ 22. Test organic versus inorganic fertilizers on plant development
__________________ 23. Volunteer to work with landowners to improve their forest lots
__________________ 24. Operate a hay hauling service
__________________ 25. Volunteer to do a website or brochure for a local agriculture business
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Activity 2.3
Current or Non-Current
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
Label the following inventory items as either current (operating) or non-current (capital) assets.
_
(C) Current (Operating)
(NC) Non-Current (Capital)
________ 1.
Crossbred barrow
________ 9.
Hog panels
________ 2.
Stocker calves
________ 10. York gilt
________ 3.
Bred Duroc gilt
________ 11. 15 acres of growing wheat
________ 4.
Angus steer
________ 12. Two-year-old Suffolk ewe
________ 5.
4020 John Deer tractor
________ 13. 5 Maine cows
________ 6.
20’ trailer
________ 14. Raised bred heifers
________ 7.
20 bales of grass hay
________ 15. Swine self-feeders
________ 8.
Simmental show heifer
________ 16. Dorset wether
Directions
Calculate the following inventory items so they can be entered in the record keeping system. Be sure to use the
correct unit of valuation.
__________________ 17. 20 stocker calves weighing 415 pounds, each worth $1.05 per pound
___________________ 18. 15 pairs of Maine/Angus cross cows at $850 per pair
___________________ 19. 5 cross show barrows weighing 250 pounds each at $.45 per pound
___________________ 20. 80 tons of alfalfa hay at $120 per ton
___________________ 21.15 acres of growing wheat with expenses to date of 20 bushels of seed wheat at
$4.50 per bushel, $275 in fertilizer, $100 in equipment rental
___________________ 22. 475 bushels of wheat at $3.75 per bushel
___________________ 23. 500 pounds of feed purchased at $150 per ton
___________________ 24. 5 hog panels at $15 each
___________________ 25. York gilt at a pig sale for $175
___________________ 26. 20 bales of Bermuda grass hay at $35 per bale
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Activity 2.4
Beginning Inventory
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
List the following items on the beginning inventory page. The items will either be current or non-current. When
you have finished, subtotal the current and non-current assets at the bottom.
_
Beginning Inventory
1. 2 Hamp show barrows @ $170 each
2. 10 - 36” x 16’ hog panels @ $15 each
3. 1 insulated hog house split in the middle – $250
4. 2 self-feeders @ $60 each (100 bu. capacity)
5. Hog equipment – $90 (brushes, bats, 75 ft. of water hose, sprayer)
6. 5 stocker calves @ $425 each (400 lbs.)
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Beginning Inventory
Item and Description
Current
Operating
Non-Current
Capital
Current
Operating
Non-Current
Capital
Current
Operating
Non-Current
Capital
Current
Operating
Non-Current
Capital
Enterprise Totals
Summary Total
Current/Operating
Summary Total
Non-Current/Capital
Total Beginning Inventory
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Activity 2.5
Ending Inventory
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
The ending inventory is a snapshot of your SAE program at the end of each record keeping period. Typically, the
ending inventory is on December 31. List the following items on an ending inventory. The items will either be
current or non-current. When you have finished, subtotal the current and non-current assets at the bottom.
_
Ending Inventory
1. Cross show barrow @ $127
2. 1 York show gilt @ $177
3. 1 Hamp show barrow @ $252
4. 10 - 36” x 16’ hog panels @ $15
5. 1 insulated hog house split in the middle - $250
6. 2 self-feeders @ $60 each (100 bu. capacity)
7. Hog equipment – $90 (brushes, bats, 75 ft. of water hose, sprayer)
8. Paul Scales (500 lb. capacity) – $450
9. 20 bales of straw – $60
10. 1 - 250 ml bottle of Ivomec – $18 to swine and $60 to beef
11. 15 acres of growing wheat – Karl/$32 per acre
12. 7 Cross stocker calves – 415 lbs. – $357 each
13. 1988 Hale trailer (6’ x 14’) – $400 to swine and $400 to beef
14. 5 bred Maine Anjou and Angus cross cows – $650 each
15. 20 round bales of Bermuda grass hay – $35 each
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Ending Inventory
12/31
Item and Description
Current
Operating
Non-Current
Capital
Current
Operating
Non-Current
Capital
Current
Operating
Non-Current
Capital
Current
Operating
Non-Current
Capital
Enterprise Totals
Summary Total
Current/Operating
Summary Total
Non-Current/Capital
Total Ending Inventory
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Activity 2.6
Expense Categorization
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
Expenses are the cost or cash outlay to the SAE program and are categorized according to the enterprise. Label
the following expenses with the category that best describes the type of expense.
A.
B.
C.
D.
E.
F.
Current/Operating Inventory Purchased
Cash Current/Operating Expenses – Feed
Non-Cash Current/Operating Expenses – Feed
Cash Current/Operating Expense – Other
Non-Cash Current/Operating Expense – Other
Non-Current/Capital Transactions
________ 1.
1 – Cross barrow @ $100
________ 2.
2 – York gilt @ $150
________ 3.
1 – Hamp barrow @ $252
________ 4.
Pig feed account at the co-op – $65
________ 5.
Equipment expense to plant wheat –$210
________ 6.
500 lbs. of pig feed in exchange for summer job
________ 7.
Fertilizer (16-26-0) – $270
________ 8.
Paul Scales @ $450
________ 9.
35 bales of straw @ $105
________ 10. Vet bill paid by parents in exchange for summer labor
________ 11. 500 ml of Ivomec ($36 to swine and $120 to beef)
________ 12. 7 cross steers @ $86/cwt – 415 lb. calves
________ 13. 700 lb. of co-op pig feed @ $81
________ 14. Hay for cows received in exchange for building fence for neighbor
________ 15. Hale trailer ($400 to swine and $400 to beef)
________ 16. 6 bred Maine-Anjou cows with calves – $850/pair
________ 17. 25 Bermuda grass bales – $875
________ 18. Foundation seed wheat – $880
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Activity 2.7
Sales and Income
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
List the following items on a sales and income page. The items will either be current or noncurrent.
When you have finished, subtotal the current and non-current assets at the bottom.
_
Sales and Income
1. 10/8 2 Hamp show barrows @ $96 each
2. 10/8 Exhibition Transfer – $500
3. 12/3 3 – Maine cross heifer calves, 420 lbs. @ $82/cwt
4. 12/3 2 – Maine cross steer calves, 470 lbs. @ $89/cwt
5. 12/5 1 – Maine x Angus open cow @ $585
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Sales and Income
A. NON-CASH INCOME
A.1
Value of
product used
at home
Date
Item or Description
A.2
Value of
Product
Transfer or
Bartered
A.3
Value of
Exchange
Labor
A.1
Value of
product used
at home
A.2
Value of
Product
Transfer or
Bartered
A.3
Value of
Exchange
Labor
A.1
Value of
product used
at home
A.2
Value of
Product
Transfer or
Bartered
A.3
Value of
Exchange
Labor
A.1
Value of
product used
at home
A.2
Value of
Product
Transfer or
Bartered
A.3
Value of
Exchange
Labor
Enterprise Subtotals (Transfers
to Summary Page, Line 1e, 1f, 1g)
Current Income Totals
(Transfers to Sales & Income Page)
B NON-CASH
B.
NON CASH EXPENSE
Date Item or Description
A.1 Non-Cash A.1Non-Cash
Expense
Expense
(FEED)
(OTHER)
A.1 Non-Cash A.1 Non-Cash
Expense
Expense
(FEED)
(OTHER)
A.1 Non-Cash A.1 Non-Cash
Expense
Expense
(FEED)
(OTHER)
A.1 Non-Cash A.1 Non-Cash
Expense
Expense
(FEED)
(OTHER)
Enterprise Subtotals (Transfers to
Summary Page, Lines 2c, 2e,) and to
Expense Page
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Activity 2.8
Expenses
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
List the following items on an expense page. The items will either be current or non-current.
When you have finished, sub-total the current and non-current assets at the bottom.
Expenses
1.
4/28 1 – Cross barrow @ $100
2.
4/15 1 – York gilt @ $150
3.
4/30 1 – Hamp barrow @ $252
4.
5/1 Pig feed account at the co-op – $65
5.
6/7 Paul Scales @ $450
6.
6/8 500 ml of Ivomec ($36 to swine and $120 to beef)
7.
7/10 7 cross steers — 415 lb. calves @ $357 per head
8.
8/19 700 lb. of co-op pig feed @ $81
9.
10/20 Hale trailer ($400 to swine and $400 to beef)
10. 10/30 Fertilizer and seed wheat – $270
11. 11/3 Equipment expense to plant wheat – $210
12. 11/7 35 bales of straw @ $105
13. 11/20 6 bred Maine-Anjou cows with calves – $850/pair
14. 12/2 25 Bermuda grass bales - $875
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Expenses
Current Operating
Date
Item & Description
INV
FEED
NonCurrent
Capital
Other
Cap.
Current Operating
INV
FEED
NonCurrent
Capital
Other
Cap.
Current Operating
INV
FEED
Other
NonCurrent
Capital
Cap.
Current Operating
INV
FEED
Other
NonCurrent
Capital
Cap.
Gifts of SAE Assets
Enterprise Totals
Transfer from Non-Cash Expense
GRAND Totals CASH & NON-CASH expenses are not
included in this PAGE summary, but are in Final
Summary
Current/Operating
Inv. Exp. Totals CASH
Check Operating Totals
Current/Operating
Feed Exp.Totals CASH
Current/Operating
Other Exp. Totals CASH
Check Cap. Totals--->
Cash Operating Expense Enterprise Totals
Total Cash
Current/Operating Expenses
Total Cash
Non-Current/Capital Expenses
Total Cash Expenses
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Activity 2.9
Closing Records
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
Using the information from Activities 2.4, 2.5, 2.7 and 2.8, complete the Income and Expense Summary Page.
Answer the questions below about your summary.
1. Where would the beginning operating (current) inventory be recorded (line #)? ________________________
2. How is the change in operating (current) inventory calculated? ______________________________________
_________________________________________________________________________________________
3. What is recorded on line 1h? _________________________________________________________________
4. What is the difference between cash and non-cash current/operating expense – feed? _ _________________
_________________________________________________________________________________________
_________________________________________________________________________________________
5. What does the information in line 3 indicate? _ __________________________________________________
_________________________________________________________________________________________
6. What types of transactions are noted on lines 4a through 4e? ______________________________________
_________________________________________________________________________________________
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Activity 2.10
Placement SAE Records
Name __________________________ Date__________ Hour________
Student Materials
Pencil
Directions
Enter the following Placement SAE examples in the record keeping system.
1.
2.
3.
4.
Worked 45 hours @ $6 per hour at Cole’s Nursery in May.
Worked 125 hours @ $5.50 per hour driving a tractor for Bill Ferrell. Received pay on July 15.
Volunteered at the Habitat for Wildlife day at the Byron Fish Hatchery. Worked 12 hours on June 1.
Built fence for local farmer on October 10. Received $5.25 per hour for 36 hours of work.
Give five examples of placement SAE opportunities in your community.
1. _____________________________________________________________________________________
2. _____________________________________________________________________________________
3. _____________________________________________________________________________________
4. _____________________________________________________________________________________
5. _____________________________________________________________________________________
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Wage Earning SAE
Income and Expense Summary
Total Hours Worked
Date
Job Title or Type of Work
Unpaid
Paid
Gross Earnings
Total
Total
Expenditures
Net Earnings
0
$0
0
$0
0
$0
0
$0
0
$0
0
$0
0
$0
0
$0
0
$0
0
$0
0
$0
Total Wage Earning
(Transfers to Summary Page line 20b)
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Activity 2.11
Unit Review Crossword
Name __________________________ Date__________ Hour________
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Activity 2.11
Unit Review Crossword
Across
2.
4.
5.
6.
7.
9.
10.
13.
15.
16.
17.
18.
Sheet that shows an owner’s equity
Entrepreneurship and placement SAEs are eligible for this type of award
Ending inventory is taken on the last day of this month
Exchange of money
Swine, cattle or wheat - one part of a program
_____ student should have an SAE.
Possessions
Operating
Amount of money owed on an asset or investment
SAE that involves working for someone
Only vehicles with a _____ _____ can be listed on an inventory.
Decline in value over time
Down
1.
3.
8.
11.
12.
14.
Owning a business
All records should be _____.
The scientific side of SAEs
List of what a business owns
Type of labor transaction used when a parent’s assets cannot be separated from a student’s.
Non-current
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