Graded Accounting Problems, Volume 1

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Page xii - What should be done regarding the books on the admission of a new partner into a firm? What entry should be made when cash is invested for a certain share in the gains and losses?
Page xviii - ... statement of assets and liabilities, what groups of accounts constitute assets and what constitute liabilities? State how to treat, on closing the books, assets and liabilities accrued but not actually due (such as interest receivable and payable, taxes, insurance, commissions, salaries, rents). 4 Describe the different methods of determining the loss or gain of a business. How is the loss or gain of a business determined from books kept by single entry? State the usual mode of procedure when...
Page xxxv - What should be the procedure in stating the value of stock on hand at the time of a fire, the financial books being intact and showing the amount of an inventory taken four months previous to the fire ? 10. Give cases where it is proper to include in a statement of assets and liabilities certain receipts and disbursements not occurring in the period under review.
Page xxx - Give a rule for adjusting partners' accounts (a) when the gains or losses are to be divided in proportion to each partner's investment and the time it remains in use...
Page xxxiv - ... Insurance companies furnished to various State insurance departments. What do Non-Ledger Liabilities and Non-Ledger Assets include in such reports? What dangers, if any, may be anticipated by a method of book-keeping where certain liabilities and assets are not carried on the books of account? (4) Describe the various methods which you have met with for writing off the premium on bonds purchased, pointing out their weaknesses or advantages. What is the most scientific method of dealing with premiums...

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