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From the following trial balance as on 31st March, 2014, prepare final accounts of

Rich Bank Ltd.,

Debit Rs. Credit Rs.


In In
000 000

Cash Balance 200 Interest on Advances 800
Balance with other banks 400 Interest from Investments 125
Cash with RBI 100 Commission, Exchange & 200
Investments in Govt., Securities 300 Brokerage 20
Other approved securities 100 Profit on sale of investments 80
Bills purchased and discounted 250 Other revenue receipts 2,00
Cash credits, Overdrafts and 1,42 Share capital 0
Demand Loans 5 Statutory Reserves 900
Term Loans 1,27 Profit & Loss A/c 650
Premises 5 Fixed deposits 275
Furniture 1,37 Savings deposits 325
Interest paid 5 Current accounts 125
Salary 250 Borrowings from other 300
Printing & Stationery 120 banks 100
Postage & Telegrams 75 Borrowings from RBI 25
Repairs 35 Bills Payable (Net) 75
Interest Accrued 20 Interest Accrued
25
50
6,00 6,00
0 0
Bills for Collection 235
Adjustments

1. Provide Depreciation on Premises at 10%


2. Transfer 10 % of profit to General Reserve

The following are the ledger balances of X bank Ltd., prepare the profit & Loss
Account and Balance sheet as on 31st March, 2015, as per the requirements of
the Banking Regulation Act

Share capital, 20,000 shares of Rs.1,000 each Rs. 100 paid 2000
Reserve fund investment 1000
General Expenses 182
Current Accounts 20244
Interest paid 161
Savings bank accounts 2920
Fixed deposits 4000
Profit and loss account balance brought forward 230
Discount received 180
Rebate on bills discounted 64
Commission, exchange and brokerage 44
Cash 227
Interest received 532
Cash with RBI 2012
Owing by foreign correspondents 200
Short loans 6482
Loans and advances to customers 15585
Investments 9283
Bills discounted 6228
premises 2218

1. Provision for bad and doubtful debts required Rs.1,29,000


2. The bank had bills for collection Rs.5,00,000