154 PROBLEMS-REVIEW 1. Refined oil is exported in 5-gallon cans. A certain factory for making cans has a daily capacity of 70,000 cans; how many gallons of oil can be shipped in the cans that it makes in one year (300 days)? 2. In 1880 two men could solder 1,000 cans in a day. By use of the latest machinery, three men can now solder 24,000 cans in a day; taking the wages to be the same, the cost of soldering a can now is what part of the cost in 1880? 3. In a recent year the Standard Oil Company imported 60,000 tons of tin, which cost $1,000,000; how much was this a pound? 4. In 1872 the United States exported 16,363,975 gal. of crude oil, in 1903 it exported 134,892,120 gal.; what was the percentage of increase? 5. The world's production of petroleum in 1904 was 5,000,000,000 gallons, of which the United States produced 2 billions and Russia 21 billions; how many gallons were produced by all other countries? 6. In 1880 there was built on an average 1 oil tank a day. The tanks averaged in capacity 30,000 barrels; what was the total tankage added in this year of 366 days? 7. The average cost of the tanks mentioned in Exercise 6 was $8,500 each; what did the tanks built in 1880 cost? 8. What is the value of 1,500 tons of steel rails at $28 a ton? 9. The following list shows the annual capacities of the leading steel manufactories; find the total capacity: Carnegie....... 2,000,000 tons Federal Steel... 2,310,000 66 66 National ..... 2,580,000 tons Am. Steel and Wire 935,000 10. In 1890 the value of the steel exports of this country was $27,000,000. Their value in 1900 had increased 480%; what was this value? In 1897 the value was $62,737,000; what was the percentage of increase from 1897 to 1900? XVII COMMERCIAL APPLICATIONS ORDERING GOODS 1. Make out a bill for the following order for goods, the price of the bed spring being $4.50. 18 Main Street, Rockwood, N. J. Mr. John Wanamaker, New York City. Dear Sir: June 8, 1905. Please send me by express: 1 set Dickens' complete works, advertised at $18, and charge to my account. Write an order and a receipted bill for each of the following; the purchases being made of Montgomery Ward & Co., Chicago: 2. Roland Ames, Springfield, Missouri: 2 lawn mowers, catalogue number 6900, each $2.33. 3. A. R. Childs, Newark, New Jersey: Two 5-pound cans Java coffee, at 3114 a pound. 5 bbl. flour, catalogue number A 723, at $5.50 a barrel. 3 doz. cans sardines, catalogue No. A 271, at $4.25 a doz. 4. Walter Fields, Memphis, Tennessee: 3 chairs, catalogue number R 81, at $10.50 each. 1 Davenport sofa, catalogue number R 97, at $45.00. 156 RECORD OF SALES Day Book. Business houses vary greatly in their methods of keeping account of transactions. A common method of recording sales is that of noting in a book, called a day book, the name of the customer, a description of the goods bought, and whether the price is charged to the customer's account or paid in cash. The following is a coal dealer's record of one day's sales: 1. Verify the totals in the record above, and find the total amount of the sales for the day. 2. On a certain day a dealer's cash items were: $2.50, $5.75, $11.16, $4.93, $.30, $1.15, $.33, $4.60; the account items were: $4.78, $13.60, $5.12, $3.17; find the total. 3. Make other records and find the totals. BILLS AND RECEIPTS 157 Receipts. When a bill is paid it is customary to give a written acknowledgment of payment, called a receipt. The receipt may either be written or stamped on the bill itself, as in the bill shown below, or drawn up separately. Make out receipted bills for the following items, with yourself as purchaser and as seller some firm that you know deals in the commodities named: 1. 3 sacks of flour at $1.69; one 16-pound ham at 121¢ a pound; 9 lb. of tea at 39¢ a pound. 2. 1 dining table, $27; 8 chairs at $2.98 each. 3. 6 violin strings at 194 each; 1 cake rosin, 84; 3 copies of sheet music at 29¢ each, 5 at 154, and 1 at 604. Write receipts showing that you have made the following payments: 4. A monthly instalment of $10 for the current month on a piano that you have bought from a dealer known to you. 5. To the publisher of a local paper or magazine for one year's subscription in advance. (Use correct name and rate.) Cash Accounts. An account of money received and paid out is called a cash account. Dr. stands for debtor and Cr. for creditor. "Cash may be thought of as a debtor to the person keeping the account for all money received and creditor for all money paid out. Make out and balance the following accounts: 1. Cash on hand Jan. 1, $500. Expenditures: Jan. 5, $80.30; Jan. 10, $30.75; Jan. 15, $4.25; Jan. 21, $106; Jan. 30, $40.80. 2. Cash on hand Monday, $90.50. Receipts: $10 a day for the week of 6 days. Expenditures: Monday, $7.50; Tuesday, $12.25; Thursday, $18.40; Saturday, $21.43. 3. Cash on hand July 1, $74.90. Receipts: July 6, $60.70; July 15, $50; July 21, $18.90; July 31, $50. Expenditures: July 2, $25.50; July 7, $6.50; July 16, $40.59. 4. Cash on hand Oct. 1, $185.50. Expenditures: Oct. 3, $16.50; Oct. 11, $89.70; Oct. 15, $5.53; Oct. 25, $17.75; Oct. 28, $15.90; Oct. 30, $12. 5. Make and solve 5 similar problems. |