The article focuses on various problems that were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the November, 1951 Certified Public Accountant Examination in accounting practice. In one of the question the balance sheet of the company on September 30, 1951 was given and examinees were asked to compute the book value of a share of common stock as of September 30, 1951. They were also asked to compute tax rule as to stock rights and to show the computation and treatment of the transaction if the person sells his rights for $800. In another question, from the information and summary of the transactions for the year ended December 31, 1950, examinees were asked to prepare work sheets, showing by appropriate funds all information needed for a statement of income and expense for the year and a balance sheet for each fund as of December 31, 1950. Changes in surplus accounts or in fund balances were to be shown in additional columns unless all such changes are clearly identified in the balance sheet columns.

This article presents problems, which were prepared by the Board of Examiners of the American Institute of Accountants, and were presented as the second half of the May 1951 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. The weights assigned were, problem 1, 10 points; problem 2, 25 points; problem 3 or problem 4, 15 points. One of problem is being given as, "the Town of Big Springs had not been operating a public library prior to October 1, 1950. On October 1, 1950, James Jones died, having made a valid will which provided for the gift of his residence and various securities to the town for the establishment and operation of a free public library. The gift was accepted by the town. The library funds and operation were placed under the control of trustees. The terms of the gift provided that not in excess of 3 ,000 dollar of the principal of the fund could be used for the purchase of equipment, building rearrangement, and purchase of such "standard" library reference books as, in the opinion of the trustees, were needed for starting the library. Except for this 5,000 dollar, the principal of the fund is to be invested and the income therefore used to operate the library in accordance with appropriations made by the trustees."

This 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 1951 Certified Public Accountants Examination in accounting practice. Time limit set for the examination was four hours. Questions were provided unequal weightage. Candidates are required to solve all the problems provided in the examination. Question provided in this examination fall under four categories. In the first category, the examinee is asked to calculate the book amount of inventory destroyed by fire in a wholesale firm. The candidate is also asked to assess the amount due from insurers of the company in settlement of the total loss of assets, by estimating the book value of furniture and fixtures. Another problem requires the candidate to estimate the bonus for workers based on their production records. There is another problem asking the candidate to prepare cost allocation and prospective profit for a particular product fully manufactured by a particular firm, based on some financial information.

This article presents questions, prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the November, 1950 Certified Public Accountant. One of the question is, Adams, Baker, Charles and Day are partners. Their interests in the capital and their profit and loss ratios are as follows: Adams's is 40 percent, Baker's is 30 percent, Charles's is 20 percent, Day's is 10 percent. To provide a means whereby the remaining partners might purchase a deceased partner's interest from his estate, a life insurance program was inaugurated whereby life insurance proceeds would be paid to the remaining partners in proportion to their percentage ownership in the partnership. Since each partner was in effect insuring the life of each of the other partners, it was agreed that no partner would pay any part of the premiums on policies covering his own life. One are to prepare the correcting entry that should be made to the partners' capital accounts in order to reflect properly the agreement as to the insurance. Give supporting computations in good form.

The article presents some of the problems that were presented by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the November 1950 Certified Public Accountant Examination in accounting practice. The candidates were required to solve any five problems. One of the questions that were asked in the examination was about a man who used to live his family. The person received some incomes on the cash basis. Students were asked to calculate the amount that person is entitled as a deduction for contributions in connection with the stock donated. In another question, Arthur Jacobs, a merchant, kept very limited records. Purchases of merchandise were paid for by check, but most other items of cost were paid out of cash receipts. Accounts receivable were recorded only by keeping a copy of the charge ticket and this copy was given to the customer when he paid his account. An inventory of merchandise taken on December 31, 1950 showed $16,710 of merchandise on a cost basis. Based on the information, the students were required to prepare a statement of profit and loss for 1950, supported by all computations necessary to determine the sales and purchases for the year.

The article presents accounting problems prepared by the Board of Examiners of the American Institute of Accountants and presented as the first half of the November 1949, Certified Public Accountants Examination in accounting practice. The candidates were required to solve first problem and two of the remaining three problems in four and a half hours. he weights assigned to the problems were :problem 1, 14 points; problems 2, 3, and 4, 18 points each. The first problem is related to federal income tax. The second problem is related to adjustments for errors and omissions in capital accounts of partnership firms. The third problem is on the manufacturing firm. The third problem is related to computation of the amount of an insurance claim for fire loss of raw materials in a manufacturing firm. The fourth problem deals with revision of the balance sheet of the given city in accordance with acceptable methods of government accounting and provide and analysis of the changes in surplus funds of the given city. The answers to the given problems are provided at the end of the article.

The article presents questions and answers to the problems, which were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the May, 1950 C.P.A. Examination 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, 10 points; Problem 2, 10 points; Problem 3, 30 points. A suggested time schedule is given below: Problem 1: 75 minutes; Problem 2: 60 minutes; Problem 3: 120 minutes. You have been engaged to audit the Thomas Trading Company as of December 31, 1949. A summary of the general ledger accounts is presented below. Based on the transactions as stated and the supplementary information, you are to prepare working papers which show in detail "Ledger Balance 12/31/49," "Audit Adjustments," "Profit and Loss for Year," and "Balance-Sheet 12/31/49." Columns for "Surplus Changes" may be included or entries to "Surplus" may be shown in the other columns provided such entries are clearly identified as applicable to "Surplus." Key all audit adjustments and in journal form present the adjusting entry together with a brief explanation of the purpose of or reason for the entry. A worksheet for Balance-Sheet accounts and a separate worksheet for Profit and Loss accounts may be prepared. The article presents the balance sheet in response to this question.

The article presents a professional question paper for department for students of Accounting. The problems were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the May, 1950 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.

The article presents information about professional examinations for a department for students of accounting. The following problems were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the May, 1949 Certified Public Accountant examination in accounting practice. Candidates were required to solve all problems in four and a half hours. A suggested time schedule is also given in the article. Some problems are the condensed balance sheets of company A, B and C were prepared as of December 31, 1948. The stock of Company C was acquired by Company B on January 31, 1947. Since that date Company C has had total earnings of $28,400 and paid cash dividends of $40,000. Company B has credited all dividends received to its income account. Company A acquired the stock of Company B on December 31, 1948. Students were asked to prepare the journal entries necessary for the preparation of a consolidated balance sheet of Company A and subsidiaries as of the close of business December 31, 1948. Show all supporting computations in good form.

The article presents problems that prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the May, 1949 C.P.A. Examination in accounting practice. The candidates were required to solve problems 1 and 2 and either problem 3 or 4. One of the question provided information that the Rheta Rose Manufacturing Company produces an item which it sells direct to consumers under its own brand. The item sells at $12.50 per unit, which is a long-established price. Due to a general decline in business activity, sales are currently being made at the rate of 5,000 units per month which is only 40% of the normal productive capacity of the plant of the company. The question includes An analysis of the costs of the company for a recent month, during which only 4,000 units were produced and 5,000 units sold. An offer has been received from a chain store by the treasurer of the company to purchase 5,000 units a month of the product with only immaterial modifications, to be shipped and billed to the individual stores. The items would be sold under the store's label and would be packed and shipped as directed by the chain at their expense.