Questions Set for Examinations June 1917
Questions Set for Examinations June 1917
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, for construction $1, 800, 000 and this amount of invest- ment ran, on the average, for one year before the property was ready for operation. When operation began the com- pany had therefore paid one year's interest on the issue of bonds. No dividends were paid on the stock. In addition to the sum named above the company also paid $10, 000 for legal expenses in connection with incorporation and $5, 000 for franchise and other fees.
How should the accounts appear when the property was ready for... operation ?
4. A corporation having issued its capital stock at par buys 1, 000 shares at 95. It later sells 500 of these shares at 98, and 300 at 85, and 200 at 101. Give the journal entries covering these transactions.
How should the items appear on the balance sheet imme- diately after purchasing the stock, and immediately after each of the sales?
5. The following items represent the combined statement of all the national banks. Rearrange them in the form of a balance sheet. You need not follow the form used by the Comptroller of the Currency, but make a balance sheet in the form that seems the most desirable.
What to read after Questions Set for Examinations June 1917?
You can find similar books in the "Read Also" column, or choose other free books by American Institute of Accountants Board of Examin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
, for construction $1, 800, 000 and this amount of invest- ment ran, on the average, for one year before the property was ready for operation. When operation began the com- pany had therefore paid one year's interest on the issue of bonds. No dividends were paid on the stock. In addition to the sum named above the company also paid $10, 000 for legal expenses in connection with incorporation and $5, 000 for franchise and other fees.
How should the accounts appear when the property was ready for... operation ?
4. A corporation having issued its capital stock at par buys 1, 000 shares at 95. It later sells 500 of these shares at 98, and 300 at 85, and 200 at 101. Give the journal entries covering these transactions.
How should the items appear on the balance sheet imme- diately after purchasing the stock, and immediately after each of the sales?
5. The following items represent the combined statement of all the national banks. Rearrange them in the form of a balance sheet. You need not follow the form used by the Comptroller of the Currency, but make a balance sheet in the form that seems the most desirable.
What to read after Questions Set for Examinations June 1917?
You can find similar books in the "Read Also" column, or choose other free books by American Institute of Accountants Board of Examin to read onlineMoreLess
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