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Report, April 30, 1948

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IUM CORPORATION E SHEET per 31, 1947 LIABILITIES Current Liabilities : Accounts payable $ 54,144 Federal income taxes withheld from salaries and wages 10,761 Accrued expenses : Taxes, other than Federal taxes on income $ 14,322 Other 22,583 36,905 Provision for Federal taxes on income 121,375 Total Current Liabilities 223,185 Notes Payable to Bank - due 1949-1955 200,000 Capital Stock and Surplus : Capital stock: $7 Cumulative First Preferred Stock (redeemable at option of corporation or on dissolution at $100 per share) : Authorized and issued, 1,000 shares of a par value of $100 each 100,000 Less Purchased and held in treasury, 129 shares 12,900 87,100 Common, Class "A": Authorized, 64,000 shares of a par value of $2 each. Issued, 59,600 shares $ 119,200 Less Purchased and held in treasury, 380 shares 760 118,440 205,540 Surplus (restricted in the amount of $13,660 pending retirement of treasury stock) : Capital surplus 91,585 Earned surplus 330,687 422,272 627,812 $1,050,997 ACCOUNTANTS' REPORT To THE BOARD OF DIRECTORS, UNITED STATES RADIUM CORPORATION New YORK, N. Y. We have examined the balance sheet of United States Radium Corporation as of December 31, 1947. For the year then ended we have reviewed the system of internal control and the accounting procedures of the corporation and, without making a detailed audit of the transactions, have examined or tested accounting records of the corpora- tion and other supporting evidence, by methods and to the extent we deemed appropriate. Our examination was made in accordance with generally accepted auditing standards and included all procedures which we considered necessary in the circumstances. In our opinion, the accompanying balance sheet presents fairly the position of United States Radium Corpora- tion at December 31, 1947, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. PEAT, MARWICK, MITCHELL & CO. New York, N. Y., April 13, 1948.

Page data

Page
3
Source index
0
Type
photo
Media ID
9830c77d91c96470
Size
unknown

Document data

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75730365
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    "ocrText": "IUM CORPORATION\nE SHEET\nper 31, 1947\nLIABILITIES\nCurrent Liabilities :\nAccounts payable\n$ 54,144\nFederal income taxes withheld from salaries and wages\n10,761\nAccrued expenses :\nTaxes, other than Federal taxes on income\n$ 14,322\nOther\n22,583\n36,905\nProvision for Federal taxes on income\n121,375\nTotal Current Liabilities\n223,185\nNotes Payable to Bank - due 1949-1955\n200,000\nCapital Stock and Surplus :\nCapital stock:\n$7 Cumulative First Preferred Stock (redeemable at option of corporation or on\ndissolution at $100 per share) :\nAuthorized and issued, 1,000 shares of a par value of $100 each\n100,000\nLess Purchased and held in treasury, 129 shares\n12,900\n87,100\nCommon, Class \"A\":\nAuthorized, 64,000 shares of a par value of $2 each.\nIssued, 59,600 shares\n$ 119,200\nLess Purchased and held in treasury, 380 shares\n760\n118,440\n205,540\nSurplus (restricted in the amount of $13,660 pending retirement of\ntreasury stock) :\nCapital surplus\n91,585\nEarned surplus\n330,687\n422,272\n627,812\n$1,050,997\nACCOUNTANTS' REPORT\nTo THE BOARD OF DIRECTORS,\nUNITED STATES RADIUM CORPORATION\nNew YORK, N. Y.\nWe have examined the balance sheet of United States Radium Corporation as of December 31, 1947. For the\nyear then ended we have reviewed the system of internal control and the accounting procedures of the corporation\nand, without making a detailed audit of the transactions, have examined or tested accounting records of the corpora-\ntion and other supporting evidence, by methods and to the extent we deemed appropriate. Our examination was made\nin accordance with generally accepted auditing standards and included all procedures which we considered necessary\nin the circumstances.\nIn our opinion, the accompanying balance sheet presents fairly the position of United States Radium Corpora-\ntion at December 31, 1947, in conformity with generally accepted accounting principles applied on a basis consistent\nwith that of the preceding year.\nPEAT, MARWICK, MITCHELL & CO.\nNew York, N. Y., April 13, 1948."
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