PROFESSIONAL EXAMINATIONS.

The article presents some problems prepared by the board of examiners of the American Institute of Accountants as part of an examination in accounting practice. The first problem required a student to prepare a schedule showing the cash payment of the buyer to the selling party, profit and loss statement of the company involved in the transaction and total taxable income statement of the selling party on the basis of information and conditions given to him. The second problem required the student to prepare a schedule showing how cash payments should be made to partners who are selling, with the realization of assets. The third problem required the student to prepare entreaties to reflect the exchange on the books of a corporation and compute depreciation on the purchase made by the corporation on the basis of the entreaties. The fourth problem required the student to prepare a statement accounting for the decrease in net working capital and a statement accounting for the decrease in cash on the basis of the information supplied. The solutions to each of the problems have been provided.