BUSINESS 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 listed in the Stock Notes Kegister 
(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 delivered (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 all 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 
