B.—l [Pt. IV].

HOWARD ESTATE ACT, 1919 : ESTATE OF JOSIAH HOWARD. Farm Working Account for Year ended sth January, 1937. Dr. £ s. d. Or. £ s. d. Stock on hand, sth January, 1936 .. .. 13,134 11 4 Sales .. .. .. .. .. 4,308 16 2 Wages .. .. .. .. .. 2,038 11 7 Farm produce consumed, &c. .. .. .. 714 10 0 Purchases .. .. .. .. .. 443 12 8 Stock on hand, sth January, 1937 .. .. 15,157 14 8 Balance, being gross profit transferred to Farm Profit and Loss Account .. .. .. 4,564 5 3 £20,181 0 10 £20,181 0 10 Farm Profit and Loss Account for Year ended sth January, 1937. Dr. £ s. d. Or. £ s. d. Maintenance and general expenses .. .. 3,347 13 6 Gross profit, transferred from Farm Working Account 4,564 5 3 Net profit, transferred to Income Account .. 1,245 17 1 Sundry revenue .. .. .. .. 13 11 9 Rebate on rates .. .. .. .. 15 13 7 £4,593 10 7 £4,593 10 7 General Estate Income Account for Year ended sth January, 1937. Dr. £ s. d. Gr. . £ s. d. Reserves .. .. .. .. .. 2,023 3 4 Farm Profit and Loss Account .. .. .. 1,245 17 1 Advisory Board expenses .. .. .. 67 19 0 Dividends and interest .. .. .. 371 0 11 Balance, transferred to Estate Account .. .. 474 4 4 £2,091 2 4 £2,091 2 4 Balance-sheet as at sth January, 1937. Liabilities. £ s. d. Assets. £ s. d. Sundry creditors .. .. .. 733 2 6 Land and buildings .. .. .. .. 63,009 16 11 Reserve for value of produce unrealized* .. 3,932 0 0 Farm implements and machinery .. .. 1,450 13 9 Capital .. .. .. .. .. 86,533 2 8 Furniture .. .. .. .. .. 182 11 10 Live-stock— £ s. d. Sheep .. .. .. 7,980 13 8 Cattle .. .. .. 2,845 1 0 Horses .. .. .. 400 0 0 11,225 14 8 Produce .. .. .. .. .. 732 0 0 Wool, hides, and skins .. .. .. 3,200 0 0 Sundry debtors .. .. .. . . 4 0 8 Shares .. .. .. .. .. 125 0 0 Cash .. .. .. .. .. 7,246 1 3 Expenditure capitalized : Smedley Boys' Trainingfarm .. .. .. .. .. 1,883 8 7 Fence and Scrub-cutting Account .. .. 2,138 17 6 . £91,198 5 2 £91,198 5 2 * Reserve created to ensure that the value of unrealized produce is not made available for payment as income. A. R. F. Mackay, M.Com. (N.Z.), Ph.D. (Lond.), Assistant Accountant to the Treasury. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —J. H. Fowler, Controller and Auditor-General.

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