Financials

Keeping a running tally of expenses and payments. This is where all financial information for this joint venture will be publicly recorded.

Total Expenses to Date:

Both Cows, Vaccinations included:   $2078

Incidental Reserves:

$60 (As soon as Payments are made)

Incidental Expenses:

Bought 18 bags of feed, should be the last expense before butchering.
Total came to just over $240. Rounded down to $240 and split 3 ways to account for pasture use and maintenence on the part of the Williamsons, leaves John and Ernie with an additional $80 in expenses.

Bought early on speculation of rising feed prices due to the drought. Feed should last the remaining 14 weeks, and possible excess might be sold later and split to defray costs.

Bought 6 more bags of feed due to pasture giving out. Right around $15 each. Split 3 ways, that's $30 each.
Breakdown and Payments:

John and Ernie both kicked in $260 as of 5/2 and 5/5, respectively. This represents roughly half of the estimated cost per half at two cows at 800 lbs, assuming cost per lb is $1.30 as previously discussed. Balance of payment arrangement to be made upon purchase and notice of reciept.

Luckily, Gary was able to negotiate a $1.25/lb price with the dealer, getting us a cheaper price for heavier cows.
Rounding to 2080 for simplicity, 1/4 of the total cost to date would be $520.
Kicking in $20 each for incidentals (Gary excluded because of exisitng supplies to be used), both Ernie and John will owe $280, at their earliest convenience.

7/6/12: John made a payment of $140, leaving a  balance due of $140.
7/20/12: John paid the $140, and the extra $20 was applied to his part of the feed, leaving a $60 balance.
10/18/12: John paid $90, covering the previous balance, as well as the last feed purchase.
As of  9/22/12, Ernie's balance due is $80 for feed.
As of 10/22/12, Ernie's balance is $110 for feed.