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The following statement, based upon the results of a complete examination of the books and stock of the Co-operative Society in preparation for its incorporation, shows the financial condition of the Society on January 1, as well as the amount of business transacted and the profits made between July 1, 1902 and January 1, 1903. In estimating the profits no account has been taken of depreciation in the value of stock on hand. It should, moreover, be noted that during the first months of the college year the business is larger, and accordingly more profitable, than during the winter and spring: A comparison of the stock-taking with the books showed a shortage of $2233.17, or 1.4 per cent of the total sales, divided among the departments as follows: This shortage may have been caused by carelessness in keeping the accounts or by the disappearance of stock from the stores. No business as large as that of the Co-operative Society can be run without some discrepancy of this sort; but in this case the directors feel that the discrepancy is entirely too large, and therefore a careful investigation is being made. The sales by departments were as follows: The total sales show an increase over those of the corresponding period in the last fiscal year of $16683.93.
A comparison of the stock-taking with the books showed a shortage of $2233.17, or 1.4 per cent of the total sales, divided among the departments as follows: This shortage may have been caused by carelessness in keeping the accounts or by the disappearance of stock from the stores. No business as large as that of the Co-operative Society can be run without some discrepancy of this sort; but in this case the directors feel that the discrepancy is entirely too large, and therefore a careful investigation is being made. The sales by departments were as follows: The total sales show an increase over those of the corresponding period in the last fiscal year of $16683.93.
This shortage may have been caused by carelessness in keeping the accounts or by the disappearance of stock from the stores. No business as large as that of the Co-operative Society can be run without some discrepancy of this sort; but in this case the directors feel that the discrepancy is entirely too large, and therefore a careful investigation is being made.
The sales by departments were as follows: The total sales show an increase over those of the corresponding period in the last fiscal year of $16683.93.
The total sales show an increase over those of the corresponding period in the last fiscal year of $16683.93.
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