Gem City Business College - Yearbook (Quincy, IL)

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OEM CITY BUSINESS COLLEGE, QUINCY, ILLINOIS - 13 ACTUAL BUSINESS CLASS BOOKKEEPING LABORATORY THE ACTUAL BUSINESS CLASS is a modern efficient laboratory that familiarizes the student with the actual' working conditions as they are to be found in a business office and makes it possible for the inexperienced boy or girl to successfully handle a difficult office position much more effi- ciently and quickly than the individual whouhas not had the advantage of our actual business training. This is a laboratory course following the theory of bookkeeping and accounting. It is so planned that the student follows the theory with a practical application of the problems involved. In this class he makes the actual transactions with other students and then enters these business deals in his books and follows the mechanical transactions through to their completion. In this manner the student puts into actual practice the knowledge acquired from his textbooks and class instruction. After completing his sets of bookkeeping and this required work in the actual business class he is well qualified to fill the most exacting bookkeeping position. Instead of having the transactions written as a textbook, the student in the -Actual Business class makes his own business ,deals with the other students. . In this class the student learns the proper papers used in the various business transactions and the necessary steps for recording these transactions. He learns the procedure normally followed in sending goods by truck, express, parcel post and freight. He protects himself by buying insurance and he buys and -sells goods retail and wholesale. He is not only the proprietor and bookkeeper but the buyer and salesman as well. A record of all transactions made in this department is to be entered in the books. The student will buy and sell merchandise, make out invoices, notes, checks and all types of papers as they are used in the business world. He will make bank deposits, buy 'bank drafts and make other types of bank transactions. Trial balances will be taken at frequent intervals. At the close of the trading, the books will be closed, a work sheet, a profit and loss and balance sheet statements will be made. ACCOUNTS. As a result of the various .trans- actions the students' ledger 'should contain the following accounts: Customers and creditors, cash, notes receivable and payable, merchandising purchases, merchandise sales, purchases and sales discounts, other dis- counts, interest income, interest expense, general expense, accrued interest receivable and payable, trading, profit and loss, proprietor's capital and drawing accounts, together with other ledger head- ings that ordinarily occur in the course of an or- dinaryrun of business. I The student is the sole proprietor, buyer, salesman and bookkeeper. Business experience is acquired as he acts in these capacities. A AUDITING. On finishing the work of this class the student is given a thorough drill in auditing. He exchanges his books for those of a fellow student and is required to give them a detailed audit. After completing the audit, he makes a report, listing all the errors found and commenting on the general condition of the books. The instructor then lists the errors to be corrected as he inspects the books. When the errors are cor- rected the books are graded. The work in this class has been arranged so the student should complete the required work including the auditing and cor- rection of errors within ten weeks' time. This includes the one hour of class work each day, the time re- quired for the audit and correction, together with the time required for preliminary training in the use of the calculator. However this will be con- trolled to a great extent by the diligence and effort exerted by the individual student. BANK BOOKKEEPING MACHINE OPERA- TION. In this department it is necessary to main- tain a complete banking record of the students' accounts and their banking transactions. The de- positorfs ledgers are of the loose leaf type and are in conformity with those used in our larger and more modern banks. We have Burroughs Bank Book- keeping machines. Commercial bookkeeping machines. At the present time there is an increasing tendency towards ma- chine recording of accounts. The student not only should be familiar with the theory of bookkeeping and accounting but it is of the utmost importance that he is trained in the operation of the commercial bookkeeping machines. He should be able to under- stand all other types of modern mechanical equip- ment. Our students in this department have access to electrically driven adding machines and book- keeping machines. They are given acertain amount of training on calculating machines and are given instruction in the use of such machines as check writers, protectographs, numbering machines and other mechanical equipment ordinarily found in the modern business office or bank. I GENERAL MOTORS ACCOUNTING. The proper handling of garage and automobile sales accounting is complicated, so it is necessary for one to become familiar with the specialized sys- tems used by the large companies such as General Motors, Ford and Chrysler. For that reason, we are teaching General Motors accounting to those who wish to become proficient in this type of work. Anyone who understands the General Motors sys- tem is capable of handling either of the other two systems. Organizations selling cars distributed by any of the large companies, usually require an ac- countant who has been trained in motor accounting, so it is wise for those who wish to be proficient in bookkeeping or accounting to take our course in General Motors accounting.

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'I4 . GEM CITY BUSINESS COLLEGE, QUINCY, ILLINQI ADVANCED STUDENTS PRACTICE l l E Advanced dictation students in Plate I are t k' and Shorthand Classes Sho , a ing work iron? Miss Grace Stewart. Advanced typing . ' WH In Plates H and HI, 321111 hlgh proficiency through daily practice. M THl exClU5l' letter l enable poSS1bll to 611111 as COU private Stellogf Ouri ing mel close SI timeS ll book ar needS ,Hl there 15 review ' work he THE is in tl school, 1 teachers will encc T HE. taught ii TWE and Roy These to the collc Stenogm writers i periodst school h privilege before a moming. U THE IS tau Unitel types and Q those D0fllI1g. OF li STH 1 ' fhoiioiii ggllillic D Dhongor falls of silo D of it?