=14.= When a note, draft, or check is protested, the bank will charge us with the protest fee in addition to the face of the paper. The total amount must then be charged to the one from whom the paper was received. Suppose the check of Jones & Laughlin for $100.00 goes to protest and is returned to us with a protest fee of $2.50—the entry will be:
Jones & Laughlin $102.50 Bank $102.50 Check No. 16 given to First Nat. Bank to cover J. & L. check for $100.00, protest fee $2.50.
=15.= D. A. Hall is engaged in the business of a wholesale dealer in men's and boys' clothing. On Feb. 1st. his balance sheet is as follows:
Balance Sheet, Feb. 1st, 1909. Assets Cash In Bank $1,765.20 In Office 125.00 -------- Total Cash $1,890.20
Accounts and Bills Receivable Bills Receivable 850.00 Henry James, Due Feb. 5 350.00 David Traver & Co., Due Feb. 15 500.00 Accounts Receivable 1,124.00 Frank Weitz 234.00 John Gorham 150.00 George Golden 300.00 Clayton & Co. 275.00 Henry Ames 165.00 -------- -------- Total Accounts and Bills Rec. 1,974.00
Inventory Men's clothing $2,240.00 Boys' " 1,200.00 -------- Total Inventory $3,440.00 -------- Total Assets $7,304.20
Liabilities Accounts and Bills Payable Bills Payable 650.00 Henry Weir & Co., Due Feb. 7 450.00 A. Stein & Co., Due March 1 200.00 -------- Accounts Payable 675.00 -------- D. Meyer & Bro. 150.00 Altman & Sons 350.00 Garson & Co. 175.00 -------- Total Accounts and Bills Payable 1,325.00 Total Liabilities 1,325.00 -------- Present Worth 5,979.20
The following transactions are entered on the books:
—Feb. 1st— Sold to D. A. Marcus & Son 10 overcoats 7.50 75.00 10 men's suits 6.75 67.50 142.50 -------- —1st— Sold to H. A. Branch 15 boys' suits 3.50 52.50
—1st— Rec'd from Geo. Golden Cash on account 150.00
—2nd— Sold to John Gorham 10 men's suits 7.00 70.00 10 men's suits 6.50 65.00 $135.00 -------- —2nd— Sold to Larson & Anderson 5 boys' suits 2.75 13.75 10 men's suits 6.50 65.00 78.75 -------- —2nd— Sold for cash Men's clothing 37.50
—3rd— Sold to Tallman & Co. 15 men's overcoats 7.25 108.75
—3rd— Paid 1 month's rent, Ck. No. 1 75.00
—3rd— Received from John Gorham Cash on account 150.00
—4th— Bought from Carson & Scott 36 men's corduroy coats 3.00 108.00 12 men's corduroy coats 3.50 42.00 150.00 Terms 2/10, 1/30, n/60 --------