Synopsis
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 Excerpt: ...of the profession. Theory of Accounts. New York Examination, January, 1906. Answer 10 questions but no more. Answers in excess of the number required will not be considered. Do not repeat questions but write answers only, designating by number as in question paper. Check the number of each one of the questions you have answered. Each complete answer will receive 10 credits. Papers entitled to 75 or more credits will be accepted.--January 30, 9.15 a. m. to 12.15 p. m. 1 What is a consignment account? How should it appear on the books of the consignor? 2 What is a sinking fund? How should the account be treated on the books of a corporation? 3 In a set of books in which sales book and sales ledger are used, how should a sale of merchandise be treated when an accepted draft for the amount is given by the buyer? 4 Define and differentiate the following kinds of statements: (a) trial balance, (b) balance sheet, (c) statement of assets and liabilities, (d) statement of affairs. 5 State briefly the proper manner of conducting the following kinds of accounts: (a) bills receivable, (6) bills payable, (c) shipment accounts. 6 In what order should the accounts be arranged as they successively appear in (a) a ledger containing all the accounts of a business, (b) a ledger containing accounts of fixed assets and fixed liabilities, as well as special, nominal and summary accounts? 7 Describe the method of determining the number of shares of capital stock, both common and preferred, held by each of the several stockholders of a corporation, giving fully the titles of the books wherein the facts are registered and stating how the books are opened and operated. 8-9 Describe the process of closing the books of a corporation at the end of a fiscal year, showing a Trading accou...
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