PROFESSIONAL EXAMINATIONS.
Abstract The article presents 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 May, 1948. The candidates were allowed four and a half hours to solve both problems. Each problem was given a weight of 25 points. The question was on the Hear Telephone Company, which operated two departments - "Communications" and "Manufacturing." The "Manufacturing" division kept a complete set of accounts, which were controlled by the general ledger of the "Communications" division. As of November 30, 1947, the Hear Telephone Company sold to the Wan Manufacturing Company the current and plant assets, except cash, of the Manufacturing division, the purchaser assuming all of the department's liabilities to outsiders. On the date of sale the Watt Manufacturing Company issued to the hear Telephone Company, in full payment of the purchase price, 5,000 shares of common stock. In addition to that, the article provides all the required information on which the questions are based.
- DOI
- 10.2308/tar-7054695
- Volume
- 23 (3)
- Pages
- 314-321
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref