The Accounting Review Vol. 22 No. 3 1947
PROFESSIONAL EXAMINATIONS A Department for Students of Accounting.
Abstract
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.
- DOI
- 10.2308/tar-7055620
- Volume
- 22
- Issue
- 3
- Pages
- 319-325
- Language
- en
- Sources
- openalex crossref