The Accounting Review Vol. 29 No. 3 1954
PROFESSIONAL EXAMINATIONS.
Abstract
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.
- DOI
- 10.2308/tar-7110635
- Volume
- 29
- Issue
- 3
- Pages
- 509-521
- Language
- en
- Sources
- crossref openalex