Itogon 1937 Balance Sheet

Title

Language

English

Year

1938

Rights

In Copyright - Educational Use Permitted

Fulltext

ASSETS CURRENT ASSETS: Cash on Hand and in Bank ...................... . Accounts Receivable ...................•........... Bullion in Transit ............................... . Bullion on Hand ............................... . Machinery Parts & Supplies ...................... . FIXED ASSETS: Mine and Mining Properties . . . . . . . . . '2,217,948.53 Add-Capital Development during the year ............... ·. · · · · · · · · .. · 639,284.22 ITOGON MINING COMPANY BALANCE SHEET As at 3ht December, 1937 p 26,586.19 6,492.50 408,419.68 92,511.57 549,879.94 Pl,083,889.88 LIABILITIES C'URRENT LIABILlT.IES: Mars man & Company, Inc. . ...................... . Marsman Trading Corpo.ration ..................... . Accounts Payable ................................. . Due to llanks .................................... . Bank Advance$ Against Bullion and Concentrate Shipments ................... · · · ...... · ·. · · · · Accrued Payrolls ................................. . Accrued Taxes ............ , ...................... . Bills Payable .................................... . Uncollected Dividen°ds ....... "" ................... . Accrued Expenses .... ., .......................... . Notes Payable ................................... . RESERVES: p 178,420.10 59,848.47 236,851.84 489,093.89 365,604,26 46,691.21 34,182.09 106,700.00 3,432.99 4,695.87 395,876.29 Pl,921,397.01 P2,857 ,232. 75 Income Tax .................. ~ ................................ . 41,479.89 Less-Ore Depletion Reserve ...... . Buildings ........................... Mine Machinery & Equipment ......• Mill Machinery & Equipment ....•. Assay Office Machinery & Equipment Power House Machinery & Equipment Carpenter and Blacksmith Shops Machinery & Equipment ........... . Wat.er, Light & Powder Systems .... . Miscellaneous Equipment ........... . Furniture and Fixtures ............ . Roads, Trails and Bridges ......... . Flood Control ..•..•.................. Less-Reserve for Depreciation DEFERRED ASSETS: Prepaid Charges 780,000.00 P2,077,232.75 p 692,304.13 841,575.05 965,053.58 15,377.56 497,406.17 52,089.49 123,948.63 103,030.65 52,023.21 46, 778. 71 80,707.04 !'3,470,294.22 1,433,582.48 2,036, 711. 7 4 4,113,944,49 14,'280.13 P5,212, 114.50 NET WORTH: CapitalAuthorized20,000,000 shares of lOc each P2,000,000.00 Issued and Subscrribed-20,000,000 shares of lOc each · fully paid . . . . . . . . . . . . . . P2,ooo.ooo.ooo SURPLUS: Balance as at 1st January, 1937 ..... . Net, Profit for year 1937 ............ . Less-Dividends No. 27 and No. 28 paid in 1937 .......................... . r 538,101.84 691,331.11 Pl,229,432.95 300,000.00 STOCK PREMIUM ...................................• There is a contingent liability for Machinery Parts and Supplies ordered under Irrevocable Letter of Credit amounting to P39,200.00 . 929,432.95 319,804.65 3,249,237 .(i0 P5,212,114.50

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