=+He traded for a year, drawing nothing out of the business for his personal use and paying
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=+He traded for a year, drawing nothing out of the business for his personal use and paying in no additional capital. His position on 31st Dec. 1960 was:
Assets £
Land and Buildings 7,500 Fixtures and Fittings 550 Delivery Van 650 Sundry Debtors 445 Stock 970 Balance at Bank 1,445 Cash in Hand 115 Liabilities Loan on Mortage of Land and Buildings 5,000 Sundry Creditors 875
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