Page 49 - Preservation for the Documentation of Chinese Christianity

HONG KONG CHRISTIAN COUNCIL

NOTES TO ACCOUNTS - DECEMBER 31, 1973

1. ACCOUNTING POLICIES
(a) Depreciation of fixed assets is calculated on the reducing
balance basis at 10 per cent per annum, which is consistent with previous
years. The amount provided for the year has been charged to plant fund,
(b) Foreign currency balances have been converted into Hong Kong
dollars at approximately the rates ruling at December 31, 1973.

2. GENERAL FUND

$
Balance at January 1, 1973 56,574
Deduct t
Excess of expenditure over income
for the year 15,193

Balance at December 31, 1973 $41,181

3. STAFF PROVIDENT FUND

S

Balance at January 1, 1973 1,483
Add:
Contributions during the year 12,022

13,505
Deduct:
Payments during the year 5,695

Balance at December 31, 1973 * 7,812