BUSIIsrESS PRACTICE AND ACCOUNTS FOR COOPERATIVE STORES. 7 



It will be assumed that the organization is now completed; that 

 the capital is fixed at $10,000; that 60 per cent of the capital is 

 issued, 25 per cent paid in, and the balance, $3,500, is covered by- 

 bankable stock notes. The total of the subscription agreement 

 (Form 2) is then $6,000, and the total of the stock certificate register 

 (Form 5) $6,000. The manager's first entry in the Journal is shown 

 in Form 19 and the notes are hsted in the Stock Notes Register 

 (Form 24). 



According to the subscription agreement there were 145 signatures; 

 90 had subscribed for 1 share each, 25 for 2, 20 for 3, and 10 for 4 

 shares each. Thirty-five hundred dollars of the subscriptions are yet 

 unpaid, but are in the form of bankable notes (Form 3), and they 

 are entered in the Stock Notes Register (Form 24). 



CERTIFICATE BOOK. 



The Certificate Book is merely a number of stock certificates and 

 their stubs bound together. The secretary issues the certificates, 

 fills in the stubs, and secures the member's receipt when the certifi- 

 cate is dehvered (Form 4). Of course the certificate is signed and 

 sealed as required by law. If for any reason a certificate is canceled, 

 or, if transferred, the secretary requires the return of the certificate, 

 cancels it, and pastes it to its stub. 



STOCK CERTIFICATE REGISTER. 



The Stock Certificate Register is merely a numerical list of the cer- 

 tificates issued, where all the essential facts noted on the certificate 

 are recorded in logical order. Care should be taken to see that aU the 

 certificates are accounted for. The right-hand page is devoted to a 

 record of the facts regarding transfer. Form 5 will be found 

 convenient. 



DIVIDEND REGISTER. 



After the amount and contents of each envelope (Form 11) have 

 been checked, the total is entered in the proper space in the Trading 

 Summary and Dividend Register (Form 12), and the total from this 

 summary is posted to the Membership Ledger; account (Form 6). 



The Dividend Register can be arranged in book form, as shown, or 

 in the form of a card file. The book has the advantage of showing 

 a large number of facts on a page, while the cards are more conven- 

 ient for reference. 



MEMBERSHIP LEDGER. 



It will be noticed that the Membership Ledger (Form 6) is really 

 two books in one. Each account contains a record of the paid-up 

 stock and transfers, and, finally, the interest and dividend account, 

 the latter being of value chiefly for statistical purposes and in the 

 adjustment of dividends. The amount of the customer's purchase 

 is taken from the "total" column of the Trading Summary and 



