=+4. The following was the Balance Sheet of A. Ltd. at 31st March, 1962:

Share Capital Authorised and £

Issued 10,000 Ordinary Shares of

£1 each 10,000 10,000 6% Redeemable Preference Shares of

£1 each 10,000 Fixed Assets Plant etc.

at Cost Less:

Depreciation 11,000 5,000 6,000 Revenue Reserves Profit & Loss A/c General Reserve Future Taxation

£4,500 8,000 3,000 15,500 20,000 Current Assets Cash at Bank Debtors Stocks 10,000 14,000 14,000 38,000 Current Liabilities 8,500

£44,000 £44,000