Gem City Business College - Yearbook (Quincy, IL)

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GEM 'CITY BUSINESS COLLEGE, QUINCY, ILLINOIS I C O U R S E S BUSINESS AND ACCOUNTING ooURSES BOOKKEEPING-Theory-Fifteen Sets. SECTION A. Set One-General journal, exercises on purchases, sales, cash, credit and note transactions. Set Two-General journal, additional drill on rules presented in Set OHS, iHl2f0dUCi11g DUYCTIHSCS and sales returns and allowances, and capital invested in business. Set Three-General journalg introducing equipment and operating expense accounts, posting to the ledger, trial balances and working sheets. Set Four-Introducing adjustment of merchandise inventories and closing entries in both journal and ledger, balance sheets, proiit and loss statements, closing and ruling the ledger, and post-closing trial balance. . . Set Five-Ledger accounts and their functions. Exercises on freight-purchases, fre1ght7sales, discount on purchases, discount on sales, trade discount and interest. Practice set work, consisting of the com- plete business cycle. Introducing pay roll taxes, income taxes withheld, and social security taxes, work- ing sheet, profit and loss and balance sheet statements. Test No. 1-A test is held after set five has been completed. The student must pass this before pro- ceeding. Set Six-Recording in general journal and ledger, the sale of a business, closing the old books. of the vendor and opening the new books of the vendee. Partnerships- and related accounts. Exercises on division of profit and loss. Practice set work, recording entries in the purchases and sales journals, purchases returns and sales returns and allowances journals, cash books, general journal and ledger. A complete business cycle, including working sheet, balance sheet, and profit and loss statements. Test No. 2-A test is held after set six has been completed. The student must pass this test before pro- ceeding. ' AFTER COMPLETING THE ABOVE WORK THE STUDENT IS ELIGIBLE TO TAKE THE SHORT ACTUAL BUSINESS COURSE. Set Seven-Six column general journal, columnar cash book, columnar purchases journal, columnar sales journal, columnar sales returns and allowances journal, controlling accounts, general ledger, ac- counts receivable ledger, accounts payable ledger and expense ledger. Exercises and two month's part- nership practice set applying the use of these journals. Introducing numbering of the ledger accounts. Test No. 3-A test is held at the end of set seven. The student must pass this before proceeding. Set Eight-Exercise taking up prepaid expenses, deferred income, accrued income, accrued expenses, depreciation, classified balance sheet, reversing entries and practice set work continued by closing the books of set seven. Test No. 4-A test is held at the end of set eight. The student must pass this before proceeding. Set Nine-Taking up notes receivable discounted, consignments inward and outward, C. O. 'D.. ship- ments, personal drafts, investment securities, and notes registers. F our exercises each consisting Of working sheet, balance sheet, profit and loss statement and adjusting, closing and reversing entries. An examination is held at the end of Section A. , SECRETARIAL COURSE ACCOUNTING ends here. The Short Combination students enter the Short- hand department. Those taking the Full Combination or Business course continue in the advanced bookkeeping work. SECTION B. ' 5613 TCH?-G0OC1Wi11, C0fD0f8'Lion accounting bonds. Exercises on closing partnership books and opening corporation books. Corporation balance sheet. Corporation practice set Set EICVCH-5111816 CHUY bookkeeping then changing to a double entry set. Profit and loss statemeI1tS in double entry form from single entr set of b k , , , , Y oo s. An examination IS held after completing Section B. aff! H SBCTW 561 T' PW and w We ser bufff. U rdflufa 591 fo: entre .iff 21 in los inf the Fil OPTIOXS Ser Fri seam? pounce ACTl'.lL B adnitue Clas 3.- takes: Clas B- as Wei a Audim wmpleu ROOEEIEQ BUSINESS, Clam- and naw I x Tllfbzu S0531 w to C1355 B We mmm N v- Mfrs BUSLNN 1 N l 1 4 4 . is ls: is , Alfjwgy

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'M 1- 'vm 5 -it ' s ' -as .-'lfiunx ' 'lm 1 'Ag 1 t Q 1. .. 'ff m,,i1:.t' Q S' lm ' 'fs ---.. -.,,, 1 s 4 --,xx i ,Q I .. 'Wi Hulk. wi ,- A ..-., in i. Jr.. x . ,, 1 Fw . ., 1. n 2' xgx -. .. Mr .wx W -.. ' 1 . V I Jr - Z 5- fm ,H . 'sf' If vw l ..rf'!55' V241 . .' M . . NYY ' ' Y T'-.ul-Z, ' ' 'HN - I wi I-. qv'-oo-mil. , ----.wa : :...?r' Ii jg' --n A-4.3.41 'f ltfzffxg 13 'Duff rim vi. sw .ye F, WF Hilo- -A nv. . I V. hiI'If ... . Q-,gb .. .1 hz.. Ia' ' .,'Q.n+-vp f .. .1 nada. E a gt 'TTDFV 'f nf 9' ,R 1. --' .I nl f' af il s ..,y,lf- 7.15, .1 ,ig L 5 ' It 3 GEM CITY BUSINESS COLLEGE, QUINCY, ILLINOIS' IQ makes it possible for them to accomplish more in a given time than if they did not have this training. Many persons expecting to go to some university find that the business course of this institution gives them a fundamental drill that is very valuable in their later work. Many others insist on shorthand and typing, for they know that this is invaluable in taking notes and should anything go wrong with their academic course, it will give them a sure job. It is a known fact that many large corporations give preference to the person who has had stenographic training. CIVIL SERVICE Veterans should consider the possibilities of government employment under the United States C1v1l Service Act. In addition to the many ad- vantages of Federal employment the veteran has the advantage of a five percent credit added to his exam1nat1on,,while if he is a disabled veteran he is given a credit of ten percent. As the eligibility list is made on a percentage basis, this added credit gives the veteran a distinct advantage over the civilian worker. COURSES OFFERED VETERANS OF WORLD WAR II To meet the different requirements of returned veterans, we offer the following courses which have been approved by the Veterans Administration for veterans under both Public Law 346 and 16. C11 Business course-fifty-two weeks Mathematics A frapid calculationb, mathe- matics B, business organization, commercial law, bookkeeping and elementary accounting, actual business-bookkeeping laboratory, office ma- chines, business English and letter writing, spell- ing and word drill, penmanship. C21 Business course with typing-sixty weeks Full business course as listed above. In con- nection with the business course, the student is given typing instruction, first one period a day and later two periods until the knowledge of the keyboard and the typing speed is sufficient to meet requirements of a bookkeeper-typist position. FREE SCHOLARSHIPS AND The Gem City Business College is a member of the National Association of Accredited Commercial Schools, the National Council of Business Schools, and of the Illinois Association of Commercial Schools. These organizations have definite stand- ards of practice which their members must agree to follow. Unfair inducements in the way of guaran- teeing positions and offers of free scholarships are not tolerated by the members of these organizations. The following notice from the National Council of Business Schools explains the attitude of ethical schools. The board of directors of the Council at the Chicago conference, November 28-30, 1946, unani- mously voted to amend the STANDARDS OF PRACTICE, Part V CEthicsJ, Section 4 CScholar- shipsl, so as to read as follows: Because the awarding of unfunded, part, or work-scholarships creates friction and misunder- standing among schools, and because the private business school must depend upon receipts to meet C31 Stenographic course-fifty-two weeks Spelling, business English and letter writing, shorthand theory, introductory typing, advanced shorthand theory, introductory dictation C70 and 80 wordb, advanced dictation C90, 100 and 125 wordj, advanced typing, office practice, mimeo- graphing, office machines, filing. C41 Secretarial course-seventy-six weeks Spelling, bookkeeping and accounting Cfirst nine setsb, mathematics A Crapid calculationj, penmanship, business English and letter writing, introductory shorthand Cshorthand theory, in- troductory typing, advanced shorthand theory, 70 and 80 Word dictationj, filing, advanced short- hand C90, 100 and 125 word dictation, office practice and mimeographingl, office machines, advanced typing. I ' CSD Higher accounting-seventy-two weeks Spelling, penmanship, constructive accounting, advanced accounting, Vol. I, advanced account- ing, Vol. II, cost accounting, American business law, four volumes. C65 Business course with higher accounting- one hundred twenty-four weeks This course consists of the- entire business course and the complete higher accounting course as listed above. C75 General Motors accounting-four weeks This course covers all transactions connected with garage and automobile sales operations in- cluding shop records, parts inventories, used car records, salesmen's commissions, recovered cars and all other records necessary for an accurate cost accounting and record system. C85 Stenotype-fifty-two weeks Spelling, business English, stenotype keyboard and its technique, introductory typing, intro- ductory dictation C70, 80, and 90 wordj, ad- vanced dictation C100, 125, and 150 wordl, ad- vanced typing, filing, office practice and mimeo- graphing, office machines. E For a complete description of the above courses, consult the following pages: I GUARANTEEING POSITIONS operating expenses, the issuing of such scholarships in any ,form is forbidden. Any school violating this requirement shall be dropped from membership of the Council as provided in Article III, Section 4 of the Constitution of the Council. The entire cost of operating a private school comes from tuition receipts. Any school, therefore, that deviates from its published tuition rate either C13 requires that certain of its patrons shall pay more than a just proportion of the cost of the educational services received, or C25 tends to depreciate the quality of the educational services rendered. The practice of cutting rates or prices is frowned upon in business as bad ethics. It is equally frowned upon as bad ethics in business education. We subscribe to these rules of practice and neither cut prices nor offer free scholarships to anyone. We give full value for the tuition received and each student knows that he is paying the same tuition rates as every other student.

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'N iw I 'Wh S mizi 'I nn-1:1 nba 913533157 within rwtzzmmir Piffldlf Ilili nf uni nc pm!! 5 P ,A 401' .r..3z7'3r2 .yung M' 1-4 Nm? if aah .ras Y :HMM 1 . L, ,Q-iff' in 'E A I 954951 V.,,f.I4 za, we V, Ma ff' V , 1: 7' Q PEM CITY BUSINESS COLLEGE, QUINCY, ILLINOIS 21 BUSINESS AND ACCOUNTING COURSES-Continued SECTION c. Set Twelve-Introducing imprest funds-fpetty cash, refund cash and cash register funds. 'Corporation practice set work, recording entries in' a journal, columnar cash books, petty cash books, general ledger Emil an expense ledger with controlling account. Trial balance, closing books and post-closing trial a ance. . Set Thirteen-An outline of cost accounting, pay roll fund, recording transactions with installment buying and selling with finance corporations. Social Security, Old Age Assistance, Unemployment Com- pensation. Because of the regulations governing the administration and accounting in connection with this new legislation, it has become necessary to build up accounting procedure in conformity with the requirements of the government. This set gives an explanation of the various laws and the method of computing charges and taxes so that the student will understand the various principles involved. Set Fourteen-Manufacturing set. Introducing the Voucher System. Practice set involves recording entries in the voucher register, voucher journal, columnar cash receipts, cash disbursements, columnar sales and sales returns journals with cost of sales columns. Three expense ledgers-manufacturing, selling and administrative with controlling accounts in the general ledger. A corporation set-entries pertain to a manufacturing business. A complete business cycle with adequate work in the writing up and closing of accounts peculiar to a manufacturing business. Working sheet, balance sheet, profit and loss statement, and supporting schedules, cost of goods manufactured and sold statement. Final Examination end of Section 3. The three grades made in sections A, B and C are averaged for the final bookkeeping grade. A OPTIONAL : Set Fifteen-Banking setg includes the following books 3 'tellers' cash register, certified check register security register, discount register, collection -register, savings journal, savings ledger, dividend list, de- positors' ledger, day book, expense book, daily statement, correspondent and country bank registers. ACTUAL BUSINESS 'DEPARTMENT-A student must pass the Section A requirements before being admitted to this department. Class A-Retail merchandise business. Each student starts as a retail merchant and during this class takes in a partner. Class B-The partnership is changed into a corporation. New books and different forms are introduced as well as new transactions. ' Auditing-Each student is required to audit under supervision, some other student's books at the completion of his work in the Actual Business department. I I Recently this course has been handled as class work. BUSINESS ARITHMETIC Class A-Rapid calculation: fundamental operations, common fractions and billing, decimal fractions and percentage, practical measurements, short cuts in interest, trade and cash discounts. Transportation+Mail, Parcel Post, Freight. Social Security-Old Age benefits, Unemployment Compensation, and methods of computing taxes to support these plans. A Class B-Bank discount, Insurance-life, automobile, stocks and bonds, profit and loss including turnover, mark-up in retailing, wholesaling and manufacturing, partial payments, installment buying, consignment sales, distribution of overhead, and partnership profits, governmental budgets, pay roll, and cash make-up, and individual federal income tax. q BUSINESS ORGANIZATION AND ADMINISTRATION Starting a New Enterprise. Types of Ownership. . Methods of Financing an Enterprise. Organizing an Enterprise. Managing an Enterprise. Office Management. Finance Department. Purchasing Department. U Store-keeping, Receiving, Shipping and Traffic Department. Sales Department.