=+At 31st December, 1962, the Reserve was used to issue Bonus Shares on the basis of one for every five held.

The depreciation of Fixed Assets was £3,022 in 1962.

1. *A, Β and C were three companies engaged in the same trade and all preparing accounts annually to 31st March; the following statement summarises their respective balance sheets as on 31st March, 1960:

Capital and Liabilities Issued Capital (all in shares of £1):
Preference Ordinary Capital Reserves Revenue Reserves Current Liabilities Assets