=+Bank lodged 17,356 Cash in hand 31st Dec. 1962 109

£38,523 £38,523 King died on 31st August, 1962, and the balance found due to him as at the date of his death based on the accounts for year ending 31st December, 1962, had to carry interest at the rate of 5% per annum until paid over to his executors. The amount due on death had to include

£1,000 for Goodwill payable by the remaining partner. Prepare accounts for the year ending 31st December, 1962, making provision for the following additional items:

Depreciation on shop property 5 %

Depreciation on fittings 10%

Stocks on hand at 31st December, 1962 £4,360 Expenses outstanding £244 Creditors for goods purchased for resale £484

(Calculations to nearest £1 and month).