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Wisconsin Rural Electric Cooperative Association / First yearbook, 1938
(1938)

Statewide balance sheet,   pp. 18-[20] PDF (452.1 KB)


Page 18


18     WisCONSIN RuRAL ELECTRIC COOPERATIVE AsSOCUTION
                 STATEWIDE BALANCE SHEET
                     As of December 31, 1937
                             ASSETS
Current Assets
Cash in Bank .
Accounts Receivable-supplies and
  sundries .
Stationery and supplies on hand:
  Office supplies ............... $  320.19
  Forms for sale to members ....    432.30
    Total Current Assets.
Equipment
  Office equipment.
  Less: Reserve for depreciation. .
  Equip. less reserve for deprec.. .
Uncompleted Service Contracts
     (Schedule 2)
  Projects substantially complete:*
    Costs of service ....... .... 114,034.06
    Income collected ....... .... 98,657.09
      Costs not reimbursed.
  Projects proposed or in progress:
    Costs of service ....... .... 46,827.04
    Income collected ...... .... 47,141.68
    Collection in excess of costs..
        Costs not reimbursed
          on service contracts ...
TOTAL ASSETS.
                            LIABILITIES
$ 2,178.27
    641.37
752.49
2,386.68
171.05
S 3,572.13
   2.215.63
15,376.97
(314.64)
15,062.33
$20,850.09
Current Liabilities
  Vouchers payable ............              $   5,391.62
  Contractors' deposits  .........                570.00
    Total current liabilities                             $   5,961.62
Services and Expenses Furnished by
Rural Electrification Coordination                           14,971.82
MEMBERSHIP CAPITAL                                              160.00
SURPLUS OR (DEFICIT)
  Realized profits on sundry sales,
    etc.......................                    150.79
  Losses on projects taken over by
    others....................                   (394.14)
    Net (deficit)                                            (243.35)
TOTAL LIABILITIES                                          S 20,850.09
( ) Denotes red figure.
'-Percentages of amounts due contractors and the Association's engin-
eering fees are withheld until inventories are taken and final settlements
are approved by the Rural Elctrification Administration. Accordingly,
some further income probably will be received and expenses incurred in
respect to these projects on which construction work is substantially
complete.


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