Wilma has hidden cash to purchase a gift for Fred: a bowling ball. Fred finds the cash and, believing the money itself to be his gift, takes it and goes to buy the bowling ball. However, back at home, Wilma believes she has been robbed and reports the disappearance of the money to the police. Feeling guilty, Fred wants to return the bowling ball and re-stash the money. Meanwhile, Arnold the newsboy smells something fishy.

Barney gets even with Fred because of his practical jokes he's been pulling on him from time after time, so Barney pretends to be a counterfeiter in his basement with his $500 bills of money he won in a slogan contest and Fred thinks the money is fake and will land him in jail. Meanwhile, Wilma and Betty try to cure the both of them of their practical jokes.