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COLONIAL AIRLINES, INC.
BALANCE SHEET - AT DECEMBER 31, 1954 AND 1953
ASSETS
1954 1953
CURRENT ASSETS:
Cash............................................ $916,642 $547,358
U.S. Government securities - Treasury notes..... 149,798 -
Accounts receivable (including $67,324 in 1954
and $94,971 in 1953 for mail carried, due from
U.S. Departments)............................. 700,076 667,971
Consumable supplies, gasoline, oil, etc., at or
below cost (on first-in, first-out basis)....... 122,533 120,869
Prepaid insurance and other expenses............ 80,643 82,416
Employees retirement plan (Note 2).............. 47,503 -
Total current assets.............. 2,017,195 1,418,614
INVESTMENTS AND SPECIAL FUNDS, at cost or
estimated realizable value........................ 46,565 72,561
PROPERTY AND EQUIPMENT, at cost:
Flying equipment (Note 5) 3,898,363 3,807,185
Less: Reserve for obsolescence and depreciation.. 2,627,605 2,274,177
1,270,758 1,533,008
Radio ground stations, office and other equipment 545,909 484,378
Less: Reserve for obsolescence and depreciation.. 363,323 310,900
182,586 173,478
Leasehold improvements, less amortization........ 12,239 12,949
Total property and equipment......... 1,465,583 1,719,435
DEFERRED CHARGES:
In connection with proceedings resulting from
investigation by Civil Aeronautics Board
(Note 3)........................................ 95,278 91,903
In connection with Civil Aeronautics Board's
investigation re proposed sale of assets
(Note 1)........................................ 71,403 45,685
Other............................................. 48,580 41,233
215,261 178,821
$3,744,604 $3,389,431
Reference is made to notes to financial statements.
