=+The difference on Current Accounts is due to Goods and Cash in Transit.

Prepare a Trading and Profit & Loss Account and Balance Sheet

(Depreciation—Premises 2%: Fixtures and Fittings 5%).

5. tA and Β are in partnership, sharing profits in the proportions 60% and 40 % respectively and conduct a retail department store in London. The Goodwill of the business is valued at £20,000. On 1st January, 1962,