In the newspaper account of Howard Earl Cooper’s retirement, the Dean of the Johns Hopkins University Evening College, called him “certainly the Mr. Chips” of the cohort retiring in 1969, i.e. a professor who was loved more by his students than he apparently loved doing research. But he was apparently very much loved by his students and we all know just how fickle the reception of our own research can be. One presumes he left with overwhelming fond professional memories.
But we are here to capture the reality of economics education through the years and Cooper’s exam questions from 1937-38 provide us another archival observation.
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Howard Earl Cooper
Chronology of his life and career
1899. October 17. Born in Canon City, Colorado.
Served in an Army intelligence unit in World War I.
1922-26, 1927-28. Registrar, School of Commerce, Accounts and Finance at the University of Denver.
1923. B.C.S. from the University of Denver
1925. S.B. from the University of Denver.
1927. S.M. in banking from Columbia University.
1927-28. Assistant Professor of Accounting at the University of Denver.
1928. Appointed instructor of accounting at Johns Hopkins University.
1932. Ph.D. in Political Economy from Johns Hopkins. Dissertation: The Application of Standard Costs to Factory Overhead Expenses.
1942. Appointed associate professor of accounting.
1946. Appointed professor of accounting.
1951-1969. Associate Dean of McCoy College (earlier called the Hopkins Evening College and later called the School of Continuing Studies) of Johns Hopkins University.
1985. October 9. Died in Baltimore, Maryland.
Sources:
- Annual Report of the President for 1931-32, p. 246. Johns Hopkins University Circular (September 1932).
- Retirement announced in The Baltimore Sun, May 24, 1969, p. 10.
- Obituary in The Baltimore Sun, November 3, 1985, p. 38.
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Howard E. Cooper Jr. Memorial Scholarship
Mary Cooper Evans established this fund in 1985 in honor of Dr. Howard E. Cooper Jr., professor emeritus and former associate dean of McCoy College, who taught at Johns Hopkins from 1928 until his retirement in 1964. This fund supports students majoring in business.
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Course Description
Principles of Accounting
1937-1938
11 B. Principles of Accounting. Dr. Cooper. Three hours weekly, through the year. M., T., F., 2 p.m. Gilman Hall 312.
A study is made of financial statements as the goals of accounting endeavor, of the analysis and recording of business facts in the accounting books and records, and of the methods of opening and closing the books for a single proprietorship, partnership and corporation as well as the use of controlling accounts, and consignment accounts. Many practical problems are assigned to give facility in the handling of accounting records and a ready appreciation of their significance.
Prerequisite: Political Economy 1 C.
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Semester Examinations
Principles of Accounting
1937-1938
THE JOHNS HOPKINS UNIVERSITY
MID-YEAR EXAMINATION
POLITICAL ECONOMY 11 B
Dr. Cooper
February 2, 1938
Please write your answers to these questions legibly and in ink.
- (a) What is the purpose of classifying the items in a Balance Sheet?
(b) What is the purpose of classifying the items in a Profit and Loss Statement?
(10 points) - (a) What is a trial balance?
(b) What function does a trial balance serve?
(10 points) - Set up a schedule of debit and credit showing what kinds of items are to be debited and credited.
(10 points) - (a) What is the purpose of subdividing the journal?
(b) What is the purpose of subdividing the ledger?
(10 points) - (a) What is a controlling account?
(b) How would you account for the withdrawal of stock in trade by the proprietor in a set of books which had a sales and purchase journal and general journal and a subsidiary accounts receivable ledger?
(10 points) - From the following information prepare a worksheet.
| Advertising | $ 6,000 | Miscellaneous Selling Expense | $ 1,700 |
| Accounts Payable | 20,000 | Notes Payable | 25,000 |
| Accounts Receivable | 28,000 | Motes Receivable | 12,000 |
| Bonds (Investments) | 2,000 | Purchases | 128,000 |
| Buildings | 24,000 | Purchase Discounts | 2,400 |
| Cash | 14,000 | Reserve for Bad Debts | 700 |
| Delivery Equipment | 1,900 | Returned Pur. and Allowances | 4,000 |
| Freight In | 1,000 | Returned Sales and Allow. | 1,600 |
| Furniture and Fixtures | 5,800 | L. A. Roberts, Capital | 68,940 |
| General Expense | 5,600 | L. A, Roberts, Per. (debit) | 8,000 |
| General Salaries | 4,000 | Sales | 178,350 |
| Insurance Expense | 1,200 | Salesmen’s Salaries | 11,000 |
| Interest Expense | 1,000 | Sales Discounts | 680 |
| Land | 12,000 | Store Equipment | 3,000 |
| Merchandise Inventory | 24,000 | Taxes | 2,910 |
| Depreciation on Buildings 5%. |
| Depreciation on Del. Equip. $720. |
| Depreciation on Furniture and Fixtures $800. |
| Depreciation on Store Equipment $400. |
| Bad Debts $1,760. |
| Prepaid Advertising $2,000. |
| Prepaid Insurance $200. |
| Accrued General Salaries $100. |
| Interest Accrued on Notes Payable $700. |
| Accrued Salesmen’s Salaries $350. |
| Accrued Taxes $300. |
| Deferred Income-Liability for Gift Certificates $750. |
| Accrued Interest on Bonds $60. |
| Accrued Interest on Notes Receivable $300. |
| Final Inventory $21,000 |
(50 points)
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THE JOHNS HOPKINS UNIVERSITY
FINAL EXAMINATION
POLITICAL ECONOMY 11 B
June 2, 1938
1 p.m.
Please use ink and write clearly.
- Pic and Pat are partners with capital accounts of $15,000 and $20,000 respectively. Business has not been good. Their assets are converted into $30,000 cash. There are liabilities of $8,000. Set up T accounts and show how the business should be dissolved.
- Bergen and McCarthy were engaged in a partnership with capital investments of $10,000 and $20,000 respectively. They decide to admit Lamour into the partnership for a one third interest for an investment of $20,000 in the partnership. Set up T accounts illustrating the admission of the new partner.
- Benny and Allen are partners with investments of $10,000 and $25,000 respectively. Their profit and loss sharing ratio is 2 and 3 respectively. Benny is to be allowed a salary of $3,000. Allen receives no salary. Each are to be allowed interest of 6% on their investments. The profits for the year are $4,500. How should they be distributed.
- The Baker Corporation is organized under the laws of the State of Maryland with an authorized Capital stock of 10,000 shares with a per value of $100 each. On April 1, 1938 the stock was sold at 90. On April 15, 10% of the stock was donated back to the company and on the 20th was resold for 80. Journalize the above data.
- On January 1, 1937 the Vallee Corporation issues $500,000 worth of 5% bonds at 95. Coupons payable on June 30 and December 31. These bonds have ten years to run. Show journal entries for:
(a) Issuing the bonds
(b) Payment of interest on June 30 and December 31.
(c) Ammortizing the discount as of December 31 on a straight line basis. - Set up a cost of goods sold section of a profit and loss statement of a manufacturing company supported by a schedule of the cost to manufacture using your own figures.
- What are the advantages and disadvantages in the use of a voucher system?
- How would you calculate an open to buy estimate? Illustrate.
- Illustrate two methods of accounting for consignments out.
- Illustrate the accounting for neglected purchase discounts.
Source: Johns Hopkins University, Eisenhower Library. Ferdinand Hamburger, Jr. Archives. Department of Political Economy. Curricular Materials. Series 6. Box 2. Folder “Department of Political Economy — Exams, 1936-1940”.
Image Source: Portrait of Howard Earl Cooper in the 1940 Johns Hopkins’ yearbook Hullabaloo, p. 9. Colorized by Economics in the Rear-view Mirror.