H—3s

NEW ZEALAND NATIONAL AIRWAYS CORPORATION Balance-sheet as at 31st March, 1948 Capital and Liabilities £ s. d. Assets £ s. d. Capital: Advances from New Zealand Government Aircraft and flight equipment (see provision for under section 25 of New Zealand National Airways obsolescence, £50,363 15s. 6d.) .. .. .. 424,833 17 7 Act, 1946 .. .. .. .. .. 540,000 0 0 £ s. d. Profit and Loss Account .. .. .. .. 3,426 7 1 Land and buildings at cost .. 111,736 611 Reserve for insurance .. .. .. .. 13,860 9 10 Less depreciation .. .. 3,124 3 11 Creditors— £ s. d. 108,612 3 0 Sundry creditors .. .. 302,210 4 2 Plant, equipment, and tools .. 42,004 3 0 Accrued liabilities .. .. 56,631 8 6 Less depreciation .. .. 3,069 16 1 Deferred credits .. .. 49,010 15 1 ——— 38,934 6 11 — 407,852 7 9 Motor-vehicles .. .. .. 18,100 15 7 Provision for obsolescence— Less depreciation .. .. 2,100 8 10 On aircraft engines and propellors 50,363 15 6 16,000 6 9 On spare parts .. .. 23,156 0 0 Office furniture, fittings, &c. .. 17,437 0 5 Spare parts and stores (see provision for obsolescence (Contingent Liability. —Customs bond, 6th March, 1947=£1,500). of spare parts, £23,156) .. .. .. 221,096 17 6 Debtors— £ s. d. Sundry debtors .. .. 62,281 0 10 Agents' balances receivable .. 31,977 19 1 Accrued assets .. .. 8,349 8 4 Deposits and prepayments .. '8,475 5 10 Pacific services: Recoverable balances .. .. .. 35,180 7 10

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