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4

KAURI-GUM INDUSTRY ACCOUNT. Receipts and Account fob Year ended 31st March, 1927. Receipts. £ s. d. Payments. £ s. d. Cash in Public Account, Ist April, 1926.. 3,441 18 5 Wages to workmen and gum-buyers .. 621 5 1 Sales of gum .. .. .. 6,913 5 2 Purchase of sacks and cases .. .. 379 15 3" Credits in reductions of expenditure under Purchase of gum .. .. .. 166 0 5section 4 of the Kauri-gum Industry Freight, cartage, &c. .. .. . . 687 16 11 Amendment Act, 1914 .. .. 192 16 5 General expenses .. .. .. 1,331 4 4 Miscellaneous receipts .. .. 3 4 6 Refund of portion advances from Consolidated Fund .. .. .. 5,000 0 0 Cash in Public Account at 31st March, 1927 2,365 2 6 £10,551 4 6 £10,551 4 6 Trading Account for Year ended 31st March, 1927. £ s. d. £ s. d. To Gum on hand, Ist April, 1926 .. 58,797 8 6 By Sales of gum .. .. .. 5,860 12 2 Purchases of gum .. .. 74 18 9 Gum on hand, 31st March, 1927 .. 53,152 17 0 Wages .. .. .. .. 625 10 11 Balance —Gross loss carried to Profit Freight inward .. .. .. 84 5 3 and Loss Account .. .. 568 14 3 £59,582 3 5 £59,582 3 5 Profit and Loss Account for Year ended 31st March, 1927. £ s. d. £ s. d. To Trading Account—Gross loss for year 568 14 3 By Balance —Net loss for year carried Freights outward .. .. * .. 423 311 down .. .. .. .. 5,759 3 1 General expenses .. .. .. 916 3 Cables, &c. .. .. .. 19 9 1 Sacks and gum-cases .. .. 273 8 1 Fire insurance .. .. .. 170 8 8 Printing and stationery .. .. 22 12 3 Depreciation .. .. .. 50 2 6 Travelling-expenses .. .. 2 4 11 Rent .. .. .. .. 500 0 0 Salaries .. .. .. .. 536 7 10 Debenture interest .. .. 3,101 5 4 £5,759 3 1 £5,759 3 1 To Balance —Loss carried forward from £ s. d. By Balance—Accumulated loss to 31st £ s. d. previous years .. .. .. 17,478 9 0 March, 1927 .. .. .. 23,237 12 1 Net loss for year brought down .. 5,759 3 1 £23,237 12 1 £23,237 12 1 Balance-sheet as at 31st March, 1927. Liabilities. £ s. d. Assets. £ s. d. Loan Account— .. Land at face-works and elsewhere, with Debentures issued .. .. .. 75,000 0 0 building, fences, and improvements .. 5,046 15 0 Crown Lands Account .. .. 500 0 0 Vacuum-tank, fittings, and plant, and Consolidated Fund (net) .. .. 5,000 0 0 royalty short workings .. .. 2,900 610 Sundry creditors for supplies, &c. .. 270 14 9 Plant and store fittings .. .. 150 13 1 Sundry creditors for gum-purchases . . 48 17 2 Tools, Auckland and depots .. .. 28 18 4 Sundry creditors for miscellaneous .. 184 11 8 Live and dead stock-.. .. .. 34 11 9 Consolidated Fund, for interest paid on Furniture and office fittings .. .. 77 611 debentures .. .. .. 6,422 17 8 Sacks, gum-cases, &c. .. .. 283 13 6 Interest accrued but not due on debentures 1,262 13 5 Charges paid in advance ... 87 3 5 Reserve Account .. .. .. 617 13 10 Gum on hand .. .. .. 53,152 17 0' Gum on consignment .. .. 782 17 2 Sundry debtors, miscellaneous .. 64 2 8 Advances on gum .. .. . . 477 14 5 Investment in Public Debt Redemption Fund at 31st March, 1927 .. .. 617 13 10 Profit and Loss Account .. .. 23,237 12 1 Cash in Public Account at 31st March, 1927 2,365 2 6 £89,307 8 6 £89,307 8 6 H. J. Lowe, Kauri-gum Superintendent. 1 hereby certify that the statements of Receipts and Payments, Trading, and Profit and Loss Accounts, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit and correctly state the position as disclosed thereby. The following comments are appended : (1) The value of stocks on hand has been accepted on the certificate of the Kauri-gum Superintendent. (2) In the absence of statutory authority the account has not been charged with any portion of the amount paid by the Consolidated Fund for the redemption of the loans raised for the purposes of this account. —J. H. Fowler, Deputy Controller and Auditor General. Note. —No profits have been earned in lespect of this account against which a charge for debtredemption could in any case be made.—J. H. O'Donnell, Controller of Accounts.

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