11. Prepare a model trial balance of an imaginary business, or one with which you are familiar, giving special attention to the proper grouping of the accounts. Explain the benefits of your grouping of the accounts.
12. What is a _working balance sheet_? From the trial balance, which you have prepared, make up a working balance sheet, supplying such additional figures as may be necessary.
13. What are the fundamental advantages of comparative statements? On what basis should percentages be figured in on analysis of the manufacturing account? of the trading account?
14. To prove the accuracy of the ledger without a trial balance, what steps are necessary? What test is applied to determine whether the ledger balances?
15. What is meant by a _book inventory_? How can the receipts be determined? the disbursements or quantities sold?
16. What is the _reverse_ or _slip posting system_? How is it operated?
17. Describe, briefly, the _loose-leaf ledger_. Describe the principal methods of indexing. Name some of the advantages of the loose-leaf ledger.
18. For what classes of accounts is the card ledger specially desirable? What are the principal methods of indexing the card ledger?
19. What is a _tabular ledger_? Describe the Boston Bank Ledger. Is a tabular ledger well adapted for commercial accounts?
20. What is meant by a _balance ledger_? What are its advantages?
21. Prepare a form of cash journal segregating administrative, selling, and manufacturing expense for an imaginary business, or one with which you are familiar.
22. Prepare a form of sales journal for a business having five departments.
REVIEW QUESTIONS ON THE SUBJECT OF TRUSTEES' ACCOUNTS; STOCK BROKERS' ACCOUNTS
1. From an accounting standpoint, into what two classes can business be divided? What is the position of the trustee of an estate, as against the public?
2. Describe the essential features of the _accounting_ of an executor.
3. In what two forms may an executor's accounts be kept? By what term are his accounts with properties known?
4. What are the proper classifications of an executor's accounts?
5. Two trustees collect in one year an income of $50,000.00 for a beneficiary, at an expense of $3,100.00. If each trustee receives an equal share, what commission should each receive, and what amount will be paid to the beneficiary, under the New York law? Prepare a complete solution of this problem.