MUSIC TRADE LOSSES
Beale and Company, Ltd., the wellknown Sydney organisation manufacturing musical instruments and radio goods, discloses a loss of £14,494 for the year ended July 1. -With £23,884 brought forward, there is a total debit of £38,378, which is reduced by £17,330 of reserves to £21,048. For the year ended July 2, 1932, the lose for the year was stated at £23,884! The auditors in their report state: —"In our opinion the balance-sheet is properly drawn up, so as to exhibit a true and correct view of the state of the company's affairs as shown by the books, except that we consider that the book values of customers' debit balances covered by hire contracts, the sundry debtors, and the. stocks are in excess of the realisable value. Provision has not been made for depreciation on plant and machinery."' The directors direct attention to the auditors' report, with which they state they concur. Net sales for the twelve months increased, being 21.4 per cent, in advance of the sales of the previous twelve months, and 52.87 per cent, above the sales of 1931-32. Expenditure decreased by 14.48 per cent, on the year. No directors'- fees- were paid.
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Bibliographic details
Evening Post, Volume CXVI, Issue 100, 25 October 1933, Page 12
Word Count
198MUSIC TRADE LOSSES Evening Post, Volume CXVI, Issue 100, 25 October 1933, Page 12
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