18


REPORT OF TIHE COMMISSIONER OF INSURANCE.


Liabilities
Losses unadjusted and unpaid C. A. Smith Lbr. Co.......
Unearned premium on policies in force running one year or
. less from  date of issue:  Gross premiums $84,229.95,
less 25% for expenses at 50% of $63,172.47, according to


$28,000.00




Wisconsin  standard  ......... ..........................  31,586.24
Reserve for accrued taxes and other contingencies ........  200.00
Total liabilities except surplus and reserves ........ $59,786.24
Surplus and reserves belonging to subscribers ............ . 18,919.75
Total .................................... $78,705.99
COMMENTS ON TIIE FINANCIAL STATEMENT
Trle items of income and disbursements are so simple that
we( do not believe that there is any need of enlarging upon thle
i'ems as given in the statement.  It will be noticed that in the
nieome there is an error unaecounted for of $30.23. This ecr-
ror seems to have been aeeumulated from the year :19121, and
although the entire income and disbursements were ehecked ill
Getail from January 1 to Angust 31, we were unable to locate
it. Such errors eould be avoided if a trial balanec were made
along the lines of the one shown in the preceding topic.
The assets of the company are of two kinds-cash and uncol-
lected prelnium deposits. Of the former the amount in bank
was $59,769.63, and in the hands of the attorney $8,119.60,
which is reduced by the amount of columissions due the attor-
ney-in-fact, $2,908.10, leaving a remainder of $5,211.50.
The reconciliation of the bank balance -with the cash bsook
l)alallce is shown as follows:
Bank balance August 31, 1913 ........$ 62,566.52
Cash book balance August 31, 1913 .......................  59,769.63
Amount to  be  reconciled ....... ...................  $2,796.89


Outstanding checks August 31, 1913:
1179 ........... ......    $54.22 1215 .........   $32.72
1199 ..................    226.07 1216 .........    55.30
1201 ..................     11.52 1218 ..........    55.84
1202 .................      20.09 1219 ......... .790.94
1203 ..................    192.68 1220 .........      7.60
1204 ................       66.48 1221 .........    19.20
1205 .................     209.96 1222 .........    21.74
1207    .     ...........   69.35 1223 .........    45.90
1208 .................      79.64 1224 .........     7.65
1209 .................      71.64 1225 .........    34.55
1211 .................      44.10 1226 ..........   11.50
1212 .................     162.40 1227 ......... . 110.02
1213 ................. .163.46 1228 .........         2.15
1214 .................      20.17 1229 ..........  210.00




Total .........            . . . . . . . . . . . . . . . . . .  $2,796.89