B—l [PT. IV]

Depreciation Reserve Account

ELECTRIC SUPPLY ACCOUNT—STATEMENT OF ACCOUNTS AT 31st MARCH, 1949—continued Net Revenue and Appropriation Account

10

Dr. 1948-49. 1947-48. Cr. 1948-49. 1947-48. North Island Account balance • Interest — On capital liability at 3 J per cent, per annum Less interest capitalized £ 1,221,381 283,316 £ £ 167,606 1,204,946 294,308 Balance from Gross Revenue Account Interest Reserve £ 1,952,031 £ 1,799,081 60,997 On Depreciation Reserve at 4 per cent, per annum Depreciation at 1 per cent, per annum on completed works 938,065 163,7831,101,848 306,402 910,638 161,618 1,072,256 263,054 Social security charge Income-tax 23,054 153,178 176,232 356,401 11,148 21,684 144,076 Loan Redemption Fund Balance to General Reserve 165,760 191,402 £1,952,031 £1,860,078 £1,952,031 £1,860,078 1

Dr. 1948-49. 1947-48. Cr. 1948-49. 1947-48. Replacements, renewals, &e. .. .. .. .. Balance .. .. .. .. .. !. £ 97,922 4,460,848 £ 370,546 4,094,085 Balance Interest at 4 per cent, per annum Net Revenue and Appropriation Account: Depreciation at 1 per cent, on completed works £ 4,094,585 163,783 306,402 £ 4,040,459 161,618 263,054 £4,564,770 £4,465,131 £4,564,770 £4,465,131