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nineteen hundred and forty-six - Amazon Web Services

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SUNDAY SCHOOL BOARD 365<br />

FUNDS AND LIABILITIES<br />

Reserve Funds<br />

Represented by Cash in Banks <strong>and</strong> Investment Bonds $1,109,856.72<br />

Fixed Asset Fund<br />

Represented by L<strong>and</strong>, Buildings, Furniture <strong>and</strong> Fixtures, Electros <strong>and</strong><br />

Plates, Copyrights <strong>and</strong> Manuscripts, Etc 1,022,500.69<br />

Other Asset Fund •<br />

Represented by Investment in Associated <strong>and</strong> Subsidiary Book Stores,<br />

Ridgecrest Baptist Assembly, <strong>and</strong> Cash Value of Endowment Insurance 1,282,056.22<br />

Liabilities <strong>and</strong> Working Capital<br />

Current Liabilities:<br />

Accounts Payable ..$ 273,090.63<br />

Deferred Credits to Income:<br />

Prepaid Subscriptions 63,125.77<br />

Group Insurance Reserve 15,008.80<br />

Total $ 351',225.20<br />

Working Capital 807,152.89<br />

Total Liabilities <strong>and</strong> Working Capital 1,158,378.09<br />

Employees' Retirement Fund Reserve 147,003.09<br />

Total Funds <strong>and</strong> Liabilities $4,719,794.81<br />

Note: The cost of the song book business of Robert H. Coleman, Dallas, Texas, including<br />

copyrights, plates <strong>and</strong> goodwill, purchased August 1, 1945, for $50,000.00 is being amortized<br />

over a ten-year period.<br />

BALANCE SHEET<br />

Ridgecrest Baptist Assembly. Ridgecrest, North Carolina<br />

December 31. 1945<br />

ASSETS<br />

Current Assets<br />

Cash on H<strong>and</strong> <strong>and</strong> in Bank $ 5,023.54<br />

Accounts Receivable—For Lots Sold 1,110.00<br />

Total Current Assets $ 6,133.54<br />

Fixed Assets<br />

Cost or Reserve for Net Book<br />

Appraisal Depreciation Value<br />

L<strong>and</strong> $123,600.40 $123,600.40<br />

Buildings 377,698.52 $35,898.12 341,800.40<br />

Furniture <strong>and</strong> Fixtures 40,240.84 26,581.97 13,658.87<br />

Automobile <strong>and</strong> Trucks 4,437.20 4,437.20<br />

Totals $545,976.96 $66,917.29 $479,059.67<br />

Deferred Charges<br />

Unexpired Insurance Premiums $5,472.88<br />

Inventory of Supplies 500.00<br />

Total Deferred Charges $ 5.972.8S<br />

Total Assets .-. $491,166.09<br />

LIABILITIES AND INVESTED CAPITAL<br />

Current Liabilities<br />

Accounts Payable—Sundry Creditors $1,583.15<br />

Taxes Withheld from Employees' Earnings 269.90<br />

Total Current Liabilities $ 1,853.05<br />

Fund Liabilities<br />

Dr. George W. Truett Memorial Fund $ 182.03<br />

J. D. "Red" Franks, Jr., Memorial Fund 5.00<br />

Total Fund Liabilities $ 187.03<br />

Capital<br />

Invested Capital—Baptist Sunday School Board 489,126.01<br />

Total Liabilities <strong>and</strong> Capital $491,166.09

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