This account is intended to contain all expenditures for improvements as suggested in Section 58. As such disbursements are made they are immediately posted in the property ledger against the piece of property to which they refer. At the closing of the books at the end of the fiscal period, the total amount is charged to Real Estate, and until this time the balance of the property ledger will equal the Real Estate account plus the Improvements account. There are several very distinct and important advantages (Section58) in keeping these items in a separate account. In the first place, by so doing the monthly report will show on its face all such expenditures. This is always important information and is essential where a fixed sum is to be spent annually on improvements. Furthermore, such an account provides automatically a list of all properties so improved, for the main facts are carried to the ledger accounts as follows:

June 15 Howard Co., Plumbing, No. 862----$346.50