Abstract
The ABC Station Package Liquor and Garage Store was started in 1967, as a combination service station and grocery store. In August of 1973, the liquor store was added. It is located on the fringe of the ghetto area and near a private university. Mr. Jack Jones is the owner and Mr. Al Jones, his son, is the manager of the store. They employe(sic) fifteen people, three of which are parttime. It is a proprietorship which uses the Cash Basis Method of Accounting. Al retains a CPA to prepare the company's income tax returns as well as to prepare operating statements on a quarterly basis. The CPA is having trouble getting the proper figures on a timely basis and as a result operating statements . are prepared only once a year on the same date as the income tax return. Since Al doesn't have a background in accounting, it is difficult for the CPA to explain to Al what he needs and the procedures to use to provide him with the information needed.