=+8. The Balance Sheets of R. Wliams for 31st December, 1960 and 1961 are summarised below: Capital

=+8. The Balance Sheets of R. Wüliams for 31st December, 1960 and 1961 are summarised below:

Capital 1960

£

3,416 Current Liabilities 2,132 1961

£

3,834 Fixed Assets (cost)

Less Depreciation 3,261 Current Assets:

Stock Debtors Bank

£5,548 £7,095 1960

£

3,418 1,204 1,411 1,349 574 1961

£

4,810 1,612 2,214 3,198 2,095 1,524 278

£5,548 £7,095 The Capital Account was as follows:

Balance brought forward, 1st January, 1961 Add Net Profit for Year Less Drawings

£

3,416 2,418 5,834 2,000

£3,834