Ask the Scholar
Page 7 of 9
I can add historical knowledge about this page.
Page image
OCR
NOTES TO FINANCIAL STATEMENTS
(1) On February 11, 1949, the corporation received a cash dividend of $600 per share
on the 80 shares of common stock of Weksler Thermometer Corporation.
On the same date the corporation sold the aforementioned 80 shares of common
stock of Weksler Thermometer Corporation for a total consideration of $8,000
and agreed to sell its investment of 531 shares of 6% non-cumulative preferred
stock at a price of $100 per share, the purchaser agreeing to effect the purchase
thereof on or before December 31, 1955. As security for the performance of the
agreement, the purchaser has pledged the 80 shares of common stock of
Weksler Thermometer Corporation and a note of $25,000 executed by Weksler
Thermometer Corporation which is payable to the purchaser in installments
from 1952 to 1954.
As a result of the foregoing, the company has realized $56,000 on the common stock
and expects to realize $53,100 on the preferred stock.
(2) Subsequent to December 31, 1948 the corporation sold its real estate leased to
others for $13,125.
(3) The provision for federal income taxes for the year ended December 31, 1948
has been computed without the deduction of a provision for doubtful accounts
of $25,000.
(4) Under the terms of the note payable to bank, the corporation has agreed, among
other things, to maintain an excess of current assets over current liabilities of
at least $225,000.
(5) Reference is made to the accompanying President's report for status of suit which
has been pending in United States Tax Court.
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, 1948 and the related statement of income and earned surplus for the year
then ended. Our examination was made in accordance with generally accepted auditing
standards, and accordingly included such tests of the accounting records and such other
auditing procedures as we considered necessary in the circumstances.
In our opinion, the accompanying balance sheet and statement of income and
earned surplus present fairly the financial position of United States Radium Corporation
at December 31, 1948 and the results of its operations for the year then ended, 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.,
June 10, 1949.
Page data
- Page
- 7
- Source index
- 0
- Type
- photo
- Media ID
- bb756bae99cbb43f
- Size
- unknown
Document data
- ID
- 75730513
- Core
- doc
- Type
- document
DTO data
{
"id": "75730513",
"sourceUrl": "https://catalog.archives.gov/id/75730513",
"contentType": "document",
"title": "Report, December 31, 1948",
"citationUrl": "https://catalog.archives.gov/id/75730513",
"collections": [
"Safety Light Collection",
"Records Related to Radium Dial Painters"
],
"iiifBase": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_1.jpg",
"thumbnailUrl": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_1.jpg",
"largeImageUrl": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_1.jpg",
"imageCount": 9,
"hasImages": true,
"source": "import",
"hasTranscription": false
}
Context sent to Scholar
Document identity
{
"localId": "75730513",
"label": "Report, December 31, 1948",
"core": "doc",
"dtoType": "document",
"citationUrl": "https://catalog.archives.gov/id/75730513"
}
Document source metadata
{
"id": "75730513",
"sourceUrl": "https://catalog.archives.gov/id/75730513",
"contentType": "document",
"title": "Report, December 31, 1948",
"citationUrl": "https://catalog.archives.gov/id/75730513",
"collections": [
"Safety Light Collection",
"Records Related to Radium Dial Painters"
],
"iiifBase": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_1.jpg",
"thumbnailUrl": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_1.jpg",
"largeImageUrl": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_1.jpg",
"imageCount": 9,
"hasImages": true,
"source": "import",
"hasTranscription": false
}
Document source extras
{
"url": "https://catalog.archives.gov/id/75730513",
"naId": 75730513,
"levelOfDescription": "fileUnit",
"recordType": "description",
"ocrSource": "nara-archive"
}
Page context
{
"seq": 7,
"pageIndex": 0,
"type": "photo",
"url": "https://s3.amazonaws.com/NARAprodstorage/lz/electronic-records/SLC/Radium/SLC_0003644_Page_7.jpg",
"mediaId": "bb756bae99cbb43f",
"ocrText": "NOTES TO FINANCIAL STATEMENTS\n(1) On February 11, 1949, the corporation received a cash dividend of $600 per share\non the 80 shares of common stock of Weksler Thermometer Corporation.\nOn the same date the corporation sold the aforementioned 80 shares of common\nstock of Weksler Thermometer Corporation for a total consideration of $8,000\nand agreed to sell its investment of 531 shares of 6% non-cumulative preferred\nstock at a price of $100 per share, the purchaser agreeing to effect the purchase\nthereof on or before December 31, 1955. As security for the performance of the\nagreement, the purchaser has pledged the 80 shares of common stock of\nWeksler Thermometer Corporation and a note of $25,000 executed by Weksler\nThermometer Corporation which is payable to the purchaser in installments\nfrom 1952 to 1954.\nAs a result of the foregoing, the company has realized $56,000 on the common stock\nand expects to realize $53,100 on the preferred stock.\n(2) Subsequent to December 31, 1948 the corporation sold its real estate leased to\nothers for $13,125.\n(3) The provision for federal income taxes for the year ended December 31, 1948\nhas been computed without the deduction of a provision for doubtful accounts\nof $25,000.\n(4) Under the terms of the note payable to bank, the corporation has agreed, among\nother things, to maintain an excess of current assets over current liabilities of\nat least $225,000.\n(5) Reference is made to the accompanying President's report for status of suit which\nhas been pending in United States Tax Court.\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\nDecember 31, 1948 and the related statement of income and earned surplus for the year\nthen ended. Our examination was made in accordance with generally accepted auditing\nstandards, and accordingly included such tests of the accounting records and such other\nauditing procedures as we considered necessary in the circumstances.\nIn our opinion, the accompanying balance sheet and statement of income and\nearned surplus present fairly the financial position of United States Radium Corporation\nat December 31, 1948 and the results of its operations for the year then ended, in\nconformity with generally accepted accounting principles applied on a basis consistent\nwith that of the preceding year.\nPEAT, MARWICK, MITCHELL & Co.\nNew York, N. Y.,\nJune 10, 1949."
}