PROFESSIONAL EXAMINATIONS.
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 November, 1947 Certified Public Accountants (C.P.A.) examination in accounting practice. One of the questions was given the information that Arnold, Bates and Cass, a co-partnership, after many years of successful operation as wholesalers, encountered a period of losses, as a result of which the partners agreed to dissolve the partnership and liquidate the business prepare a statement to show the amount of cash available for distribution to the partners at September 30, 1947, after reserving the full amount estimated to be required to complete the liquidation. Another statement to show how the cash available at September 30, 1947, should be distributed to the partners and a balance-sheet of the partnership, after giving effect to such distribution had to be prepared. any adjustments of prepaid or accrued items, except as indicated had to be disregarded.
- DOI
- 10.2308/tar-7055366
- Volume
- 23 (1)
- Pages
- 97-103
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref