H—3s

NEW ZEALAND NATIONAL AIRWAYS CORPORATION— continued Balance-sheet as at 31st March, 1950 Capital and Liabilities £ s. d. Assets £ a. d. Capital Advances from New Zealand Government Aircraft and flight equipment (see provision for under sections 23 and 24 of New Zealand National obsolescence, £249,483 lis. 6d.) .. .. .. 580,306 Oil Airways Act, 1945 .. .. .. .. 1,500,000 0 0 £ s. d. Reserves— £ s. d. Land and buildings at cost .. 261,538 2 11 Insurance .. .. .. 25,445 10 7 Less depreciation .. .. 21,010 11 8 Replacements .. .. .. 16,072 2 7 240,527 11 3 41,517 13 2 Plant, equipment and tools .. 100,675 2 7 Creditors— Less depreciation .. .. 22,196 0 8 Sundry creditors .. .. 254,964 11 11 78 479 J n Accrued liabilities .. .. 77,478 8 10 Motor-vehicles .. .. .. 21,165 18 1 Deferred credits .. .. 53,856 19 7 Less depreciation .. .. 8,193 6 0 386,300 0 4 12,972 12 1 Provision for obsolescence— Office furniture, fittings, &c. .. 48,094 7 8 On aircraft engines and propellers 249,483 11 6 Less depreciation .. .. 5,426 15 0 On spare parts .. .. 139,963 12 6 42,667 12 8 389,447 4 0 Spare parts and stores (see provision for obsolescence, £139,963 12s. 6d.) .. .. .. .. 451,435 15 0 Debtors— £ s. d. Sundry debtors .. .. 88,483 12 9 Agents'balances .. .. 25,969 11 11 Accrued assets .. .. 3,849 11 8 Deposits and prepayments .. 10,400 2 10 Pacific services : Recoverable ' balances .. .. .. 126,011 8 5 254,714 7 7

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