For the opening entries of a corporation, the student is referred to Volume I, Chapter XLIX, in addition to Chapter I of the present volume.
Problem 1. Make entries covering the five monthly instalments.
Problem 2. Assume that no preferred dividend was paid during the first year.
III
Problems
1. Draw up a form of voucher check suitable for a professional man.
2. Draw up a form of voucher check suitable for a trading concern.
3. Draw up a form of voucher register for a manufacturing concern desiring to segregate manufacturing, trading, and general expenses under which there are twelve, ten, and fifteen subdivisions of expense, respectively. Provide for other possible expenditures. Treat purchase discounts as a reduction of cost price.
4. Using the voucher register you drew up for Problem 3, from your own data make at least one entry in each column and three in the Sundries column. Show the register footed, closed, and posted.
5. What change would you make in the form of a voucher register in order to treat purchase discount as a financial management item?