The article presents problem prepared by the Board of Examiners of the American Institute of Accountants and presented as the first half of the Certified Public Accountants examination in accounting practice on May 12, 1954. The candidates were required to solve problem 1 and 2 and any three of the remaining four problems in 50 points. The first problem is related to review of tax return. Candidates are required to prepare a schedule showing computation of the amount of the apparent discrepancy by using the given information. The second problem requires the examinee to prepare a formal balance-sheet and income statement of a manufacturing firm from the given records of transaction provided in the problem. The third question requires the examinee to compute the gross profit percentages, reproduce the ledger accounts for installment contracts receivable in T-account form and calculate net loss on defaulted accounts. In addition to this the examinee is required to prepare a schedule showing the realized gross profit.

The article presents five problems, which were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the C.P.A. Examination in Accounting Practice on November 4, 1953. The candidates were required to solve problems 1 and 2 and any two of the remaining three problems. The weights assigned were: problem 1, 15 points, problem 2, 15 points, problem 3, 10 points, problem 4, 10 points, problem 5, 10 points. The time allowed was four and a half hours. A suggested time schedule to solve the problem 1 was 45 minutes, problem 2 was 75 minutes, problem 3 was 45 minutes, problem 4 was 30 minutes and problem 5 was 60 minutes. In problem 1 students were asked to audit the given company's book for the past three years, with the help of data given in the problem. In another problem students were asked to compute the unit sales price with the help of data given in the problem. Full solution of each problem is given in the article with description.

This article presents an account of questions prepared by the Board of Examiners of the American Institute of Accountants that were presented as the second half of the C.P.A. examination in accounting practice on November 5, 1953. The candidates were required to solve all problems in four and a half hours. The weights assigned were: problem 1, 12 points; problem 2, 8 points; problem 3, 30 points. Questions relate to federal income taxes were also in the examination. Parts (a) and (b), dealt with items of gross income and deductions, respectively, and were to be answered true or false. However, in not more than one sentence, a candidate was allowed to give the reason for the conclusion where an explanation seemed appropriate. The merit of the explanation was to be considered if given. The first question required candidates to prepare journal entries to record at December 31, 1952 the recognition of profits and any other adjustments arising from the data provided for a given company. Secondly, to give complete explanations in support of entries and Give one acceptable alternate method of handling the repossession and discuss merits of it.

The article presents a list of problems that were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the Certified Public Accountants examination in accounting practice on May 13, 1953. The candidates were required to solve all problems in four and a half hours.

The article presents the question paper that was prepared by the Board of Examiners of the American Institute of Accountants and was presented as the second half of the Certified Public Accountant examination in accounting practice held on May 14, 1953. The candidates were required to solve problems 1, 2 and 3 and one of the remaining three problems in four and half hours. The weights assigned were that for problem 1, there was 16 points, for problem 2 there was 6 points, for problem 3 there was 18 points and for problems 4, 5 and 6 there was 10 points for the one selected. The time duration for doing individual questions is also given. In one of the questions it is given the case of examining Roofing Co. Inc. as of December 31, 1952, which was the end of its first year of operation. All accounts except those for fixed assets and depreciation have been reviewed and necessary adjustments made. Now one finds that the depreciation recorded and the fixed asset accounts is not take into account. The adjusted trial balance including adjustments made during the audit work is given. The students are required to prepare analyses showing computation of gross fixed asset values at December 31, 1952, total flood loss for the year 1952 and depreciation for the year 1952.

This article presents questions and answers related to the problems, which were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the November, 1952 C.P.A. examination in accounting practice. The candidates were required to solve problems 1 and 2 and one of the remaining three problems. The weights assigned were: problem 1, 20 points; problem 2, 18 points; problems 3, 4 or 5, 12 points. A suggested time schedule is given as: Problem 1: 100 minutes; Problem 2: 80 minutes; Problem 3: 60 minutes; Problem 4: 40 minutes; Problem 5: 30 minutes. The C Company is planning a pension system for certain of its employees. It wishes to provide funds for meeting the payments under the pension plan and asks you for assistance. The company does not contemplate making any pension payments under the plan until January 1963. Starting on January 1, 1953 and continuing for ten years, the company will deposit $10,000 a year in a special fund. On January 1, 1952, the company wishes to make a lump sum deposit of an amount sufficient to provide the remaining funds needed for meeting the pensions. It is expected that all the above funds will earn 3% interest compounded annually during the entire life of the fund. The question is to compute the amount of payment which should be made on January 1, 1952. In response to this question, the article presents a balance sheet.

This article presents some problems prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the November, 1952 C.P.A. examination in accounting practice. The candidates were required to solve all problems in four and a half hours. The weights assigned were: problem 1, 12 points; problem 2, 18 points; problem 3, 20 points. The suggested time for the problems are problem 1, 45 minutes; problem 2, 90 minutes; problem 3, 60 minutes. The first problem is that F and T are partners in the operation of a retail store. They are concerned about the apparent discrepancy between their income and their volume of sales. Although they maintain incomplete accounting records, their experience in the business suggests to them that there is possible theft or larceny on the part of their staff. The partners have asked you, in connection with your initial audit to apply such tests as you can to determine whether there is any indication of shortage.

This article features problems that were prepared by the board of examiners of the American Institute of Accountants and were presented as the first half of the November, 1951 certified public accountants examination in accounting practice. Questions were presented in three divisions, with unequal time duration alloted for each. The first series relate to federal income tax in the United States. Questions of these series include conditions for income tax exemption, taxability of the interest earned from U.S. savings bonds issued for individuals, categorization of real property owned by a taxpayer, taxability of interest earned from the sale of municipal bonds and possibility of deduction from tax returns for stock owned by a taxpayer. The second question demands the examinee to prepare a balance-sheet and income statement after careful inspection of records of a sole proprietorship firm. Another question demands the examinee to prepare a statement showing the sources and applications of funds from information on financial transactions undertaken by a business concern.

The article presents problems that were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the May 1952, C.P.A. examinations in accounting practice. The candidates were required to solve all problems. The time allowed was four and a half hours. The weights assigned were, problem 1, 15 points; problem 2, 10 points; problem 3, 25 points.

The article presents problems that were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the May, 1952, C.P.A. examination in accounting practice. The candidates were required to solve problems 1 and 2 and either problem 3 or problem 4. The time allowed was four and a half hours. Some of the questions included in the paper are. The board of directors of the Nelson Company authorized a $1,000,000 issue of 5% convertible 20-year bonds dated March 1, 1948. Interest is payable on March 1 and September 1 of each year. The conversion agreement provides that until March 1, 1953 each $1,000 of bonds may be converted into 6 shares of $100 par value common stock and that interest accrued to date of conversion will be paid in cash. After March 1, 1953 the bonds are convertible into shares of common for each $1,000 of bonds. The company sold the entire bond issue on June 30, 1948, at 98 and accrued interest. Deferable costs incurred in making the sale amounted to $8,320. The company adjusts its books at the end of each month and closes them on December 31 of each year. Interest is paid as due. On February 1, 1950, a holder of $20,000 of bonds converts them into common stock.