B.—l [PT. IV], SUP. to 1936.

HOWARD ESTATE ACT, 1919: ESTATE OF JOSIAH HOWARD. Farm Working Account foe the Yeae ended sth Januaey, 1936. Dr. £ 8. d. Gr. £ s. d. Stock on hand sth January, 1935 .. .. 12,498 14 8 Sales .. .. .. .. .. 4,888 14 7 Wages .. .. .. •• 1,594 19 1 Farm produce consumed, &c. .. .. .. 719 0 0 Purchases .. .. .. •• 386 2 1 Stock on hand, sth January, 1936 .. .. 13,134 11 4 Balance, being gross profit transferred to Farm Profit and Loss Account .. .. .. 4,262 10 1 £18,742 5 11 £18,742 5 11 Farm Profit and Loss Account for the Year ended sth January, 1936. Dr. £ s. d. Gr. £ s. d. Maintenance and general expenses .. .. 3,123 4 6 Gross profit transferred from Farm Working Net profit transferred to Income Account .. 1,166 9 5 Account .. .. .. .. .. 4,262 10 1 Sundry revenue .. .. .. .. 9 8 8 Rebate on rates .. . . . . .. 17 15 2 £4,289 13 11 £4,289 13 11 General Estate Income Account for the Year ended sth January, 1936. Dr. £ s. d. Gr. £ s. d. Reserves .. .. .. . • • • 446 0 0 Farm Profit and Loss Account .. .. 1,166 9 5 Advisory Board expenses .. .. .. 54 7 0 Dividends and interest .. .. .. 337 10 9 Balance transferred to Estate Account .. .. 2,419 11 2 Live-stock Adjustment Account .. .. 1,415 18 0 £2,919 18 2 £2,919 18 2 Balance-sheet as at sth January, 1936. Liabilities. £ s. d. Assets. £ s. d. Sundry creditors .. .. •• 9 7 6 Land and buildings .. .. .. .. 61,066 7 1 *Reserve for value of produce unrealized .. 2,542 0 0 Farm implements and machinery .. .. 595 2 7 Capital .. •• •• •• 86,374 3 8 Furniture .. .. .. .. .. 152 7 7 Live-stock £ s. d. Sheep .. .. .. 7,658 13 4 Cattle .. .. .. 2,517 18 0 Horses .. .. .. 416 0 0 10,592 11 4 Produce .. .. .. .. .. 437 0 0 Wool, hides, and skins .. .. .. 2,105 0 0 Sundry debtors .. .. .. .. 5 7 2 Shares .. .. .. . .. 125 0 0 Cash .. .. .. .. .. 9,520 12 2 Expenditure capitalized— Smedley Boys Training Farm .. .. 1,949 12 8 Fence and Scrub-cutting Account .. .. 2,376 10 7 £88,925 11 2 £88,925 11 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. 1 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. IT. Fowleb, Controller and Auditor-General.

12 —B, 1 [PT. IV], SUP. TO 1936.

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