The article presents information about professional examinations related to accounting. The following problems were presented as the second half of the November 1946, Certified Public Accountants examination prepared by the Board of Examiners of the American Institute of Accountants. The candidates were required to solve both problems in four and a half hours. The weights assigned were: problem 1, 35 points; problem 2, 15 points. A suggested time schedule was given which was as follows: Problem 1: 120 minutes and Problem 2: 60 minutes. Problem No. 1 was as follows: One of the problems were regarding a retail store which was destroyed by fire on March 20, 1946. Only few items were salvaged.

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 first half of the C.P.A. examination in accounting practice in November, 1946. The candidates were required to solve both problems. The weights assigned were: problem 1: 30 points; problem 2: 20 points. The time allowed was four and a half hours. A suggested time schedule is given as: Problem 1: 90 minutes; Problem 2: 120 minutes. It has been asked by the president of Novo Kitchen Aids, Inc., manufacturer of home appliances, to review the company's capital, surplus and reserve accounts and to make such proposals for their revision and balance-sheet presentation as good accounting may suggest. (a) Draft a work sheet, and brief notes or adjusting entries which will indicate and explain the changes in form or content you would recommend, and (b) draw up the reserve, capital stock, and surplus sections of the balance-sheet as at April 30, 1946, as they should be presented. In response to this question, the work sheets and balance sheet are given in the article.

The following accounting problems were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the Certified Public Accountant examination in accounting practice on May 15, 1947. The candidates were allowed four and a half hours to solve problem 1 and either problem 2 or problem 3. Problem 1 was given a weight of 30 points and 20 points was assigned to either problem 2 or problem 3 From the following information, prepare a balance-sheet as at December 31, 1944, in accordance with the authorization of board of directors referred to below. The adjustments should be clearly keyed by letters or numbers on working trial balance. The Construction Corp. is engaged in a variety of construction work under contracts, the collections on which are made on the basis of engineering and architects' estimates as to stage of completion. Customers usually retain a percentage of the amount of each estimate pending completion of the contract. Gross profit on contracts has been shown in the books and financial statements in the year of completion.

This article presents accounting questions that were prepared by the Board of Examiners of the American Institute of Accountants and were presented on May 14, 1947 as the first half of the certified public accountant examination in accounting practice. Candidates were allowed four and a half hours to solve two problems. Time limit for each question was also specified in the question paper. Problem 1 carried a weight of thirty points and problem 2 a weight of twenty points. The first question presents trial balances of a company and its subsidiary at December 31, 1945. From them and the other information given in the question, the examinees had to prepare a columnar consolidating work sheet showing in separate columns a consolidated balance-sheet and a consolidated income statement at December 31, 1945. For the second problem the examinees were asked to prepare a columnar worksheet of a company showing the postings of cash transactions, the adjustments, and the cash available for final distribution, a statement of loss on realization and expenses of liquidation and a statement showing the amount of cash to be distributed as a liquidating dividend to each stockholder.