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Balance Sheet8/18/2016AssetsLiabilitiesCurrent Farm Assets
Cash and checking
Prepaid expenses
Growing crops
Accounts receivable
Crop and feed inventories
Crop under govt loan
Market livestock
Other
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What is current farm assets?
Current farm assets include all assets that are primarily used in the operations of a farm and are expected to be converted into cash within one year.
Who is required to file current farm assets?
Farmers, ranchers, or any individual or entity that operates a farm are required to file current farm assets.
How to fill out current farm assets?
To fill out current farm assets, individuals must list all assets used in the farm operation and provide the corresponding values.
What is the purpose of current farm assets?
The purpose of current farm assets is to provide an accurate snapshot of the financial health of a farm at a specific point in time.
What information must be reported on current farm assets?
Information that must be reported on current farm assets includes the value of livestock, machinery, equipment, and other assets used in farm operations.
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