The article presents a question paper prepared by the Board of Examiners of the American Institute of Certified Public Accountants and was presented as the first half of the examination in accounting practice on November 6, 1957. The candidates were required to solve all problems in four and a half hours. The total weight assigned to this section of the examination was 50 points and the examiners point out that the suggested time allowances are approximately proportional to the point value of the various problems. The time allowances for doing different questions are also suggested. One of the problems was based on 3 partners who joined with initial investment of $20,000, $30,000 and $50,000. There was no provision in their original agreement as to sharing profits, but the agreement did provide that each partner would be entitled to $3,000 salary as a distribution of profits. At the end of the financial year, it is required to review their books and records and to advise them of their proper capital balances.

The article presents details of problems prepared by the board of examiners of the American Institute of Certified Public Accountants and presented as the second half of the chartered public accountants examination in accounting practice in May 1958. The candidates were required to solve problems. The total weight assigned to this section of the examination was 50 points and the examiners point out that the suggested time allowances given below are approximately proportional to the point value of the various problems. From the following information set forth below one has to prepare a Federal income tax return for the calendar year 1957. Solution should show in schedule form all items going into the computation of the net taxable income, the computation of the tax and the final balance payable or overpayment of tax. Set up in good form any supporting computations needed in preparation of the return.

This article presents some problems prepared by the Board of Examiners of the American Institute of Certified Public Accountants, which were presented as the second half of the examination in accounting practice on November 7, 1957. The candidates were required to solve problem 1 and any three of the remaining four problems. The total weight assigned to this section of the examination was 50 points and the examiners point out that the suggested time allowances are approximately proportional to the point value of the various problems. The suggested time allowances for the problems were as follows: Problem 1, 30 to 45 minutes; any three of the remaining four problems, 150 to 225 minutes. The problem 1 asked the students to prepare a work sheet showing details of the computation of the corporate Federal income tax for the fiscal year ended May 31, 1957 of Taxpayer Manufacturing Corp. In another problem, the trial balance sheet of Pacific Import Co. has been provided to students and they were asked to prepare a columnar worksheet for the company and its branch with columns for "Trial balance," "Adjustments and eliminations" and "Branch income statement."

The article presents various problems prepared by the Board of Examiners of the American Institute of Certified Public Accountants, U.S. and presented as the first half of the Certified Public Accountants (C.P.A.) examination in accounting practice May 14, 1958. The candidates were required to solve problems one, two and three and either problem four or problem five. The total weight assigned to this section of the examination was 50 points and the examiners point out that the suggested time allowances given below are approximately proportional to the point value of the various problems. The time allowed for this section of the examination was four and a half hours. The article also includes two groups of questions presented in the audit section of the May 15, 1958 Uniform C.P.A. Examination. The estimated time allowances are approximately proportional to the point value of the problems, the total of which for this examination is 100.