Gem City Business College - Yearbook (Quincy, IL)

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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.

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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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22 GEM CITY BUSINESS COLLEGE, QUINCY, ILLINOIS BUSINESS AND ACCOUNTING COURSES-Continued Manufacturing Department. Personnel Administration. Business Forecasting. . Budgeting for Business Controlg Graphic Charts. Controlling Waste in Business. U u Salesmanship, Sales Promotion, and Advertising. COMMERCIAL LAW Law of Contracts-Formation, elements, operation, discharge and interpretation. Evidence, its pre- sentation and requirements. How to draw up contracts. Agency-Law governing relationship existing between agent and principal, with a direct application to modern business practice. Workmen's Compensation Act. ' Partnerships-Formation, Articles of co-partnership, partnership rights and liabilities. Dissolution and final accounting. Corporations-Organization. Special rights and powers. Place in modern business. Advantage over other types of business organization. Negotiable Instruments-Credit and such .instruments of credit as checks, notes, drafts, trade ac- ceptances, letters of credit, etc. Thorough discussion of use of above In business and the law governing such usage as described by Negotiable Instruments Act. Guaranty and Surety-General and special applications. Sales-Elements and the Uniform Sales Act. Conditional sales, including a thorough discussion of installment selling. . Bailments-General Law of Bailments. Special laws as they apply to common carriers, innkeepers, etc. Insurance-Fire, Life and liability. - Real Property-Laws governing deeds, mortgages, leaseholds, estates, etc. BUSINESS PENMAN SHIP I Plain rapid business writing is taught. Emphasis is placed on letter forms, proportion, slant, uniformity and neatness. Q SPELLING ' Word drill, definition of words, with their pronunciations, and word structure development. BUSINESS ENGLISH and LETTER WRITING Punctuation, sales letters and business letters. A special study. of business correspondence, including accepted letter mechanics, correct paragraph structure, effective diction, synonyms, antonyms, etc. CIVIL SERVICE I The work in the Business department prepares a student for both the state and the United States Civil Service examinations for bookkeepers :and clerks. . , BUSINESS DIPLOMA . Upon the satisfactory completion of the various subjects outlined above the student will be granted a diploma from the Business department. Those students completing this course with an average grade of at least 90 per cent or above will receive an H d 1 ' Those Students Com letin they b onor ip oma granting the degree, Bachelor of Accounts. , , p g t a ove course with an d s a High Honor diploma granting the degree, Master ofuxzgggieinisil e of 95 per Cent or more will recewe BANKING DIPLOMA I i . Those students satisfactorily completing the course of Banki y ng will be granted a Banking certificate. BUSINESS COURSE WITH TYPIN G A F ull business course as listed above. In connection with the business course, the student is given typing instruction, first one period a day andulater two periods until the k - l d ' f h k b d d the typing speed is sufficient to meet requirements of a bookkeepefgtypgzvgssifig. t e ey Oar an g1 gi i . 1 M A I S? 1 I IQ nd 5 ,prim n gd Id' wh rm! E C11 wi mgwlmw LNTKUU mr! dm :IM LYIIIIUI Im! mmf ADYIWIII Aim 2 M Sdn! SPEJLM Ilia mba 2:5 Blmm W T-fr 'lu