Repeat Exercise 13.3, but this time work on the assumption that non-current assets that had originally cost :30,000, with accumulated depreciation of :12,000, had been sold during the year ended 31 December 20X2 for :11,000.'

Data from Repeat Exercise 13.3

The balance sheet of Dot Co. for the year ended 31 December 20X2, together with comparative figures for the previous year, is shown in Figure 13.7 (all figures :000).

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Figure 13.7 Balance sheet for Dot Co. Non-current assets Less depreciation Current assets Inventory Receivables Cash Payable within one year Trade and operating payables Taxation Other accruals Bank overdraft Net current assets Net assets Represented by 42 w 33 11 20X1 20X2 180 270 (56) (90) 124 180 86 98 51 50 40 90 8 ' (24) (17) (33) (19) (26) (28) (67) (10) (90) 19 143 180 Ordinary share capital 1 shares 20 Share premium account 22% 25 8 10 Retained profits 55 65 Shareholders' fund 83 100 Debentures (15 per cent interest) 60 80 Capital employed 143 180