The following is the Trial Balance of Canara Bank Ltd as at 31st March, 2016

Prepare Profit and Loss Account for the year ending 31st March, 2016 and a Balance Sheet as on that date
after taking into account the following information.
(1) Interest accrued on investments ₹ 10,000;

(2) Rebate on bills discounted ₹ 2,000;

(3) Interim dividend was declared @ 12%;

(4) ₹ 15,000 were added to the premises during the year. Depreciation at 5% on opening balance is to be provided;

(5) Endorsements on behalf of the customers were ₹ 1,15,000;

(6) The provision for taxation at 1.4.2004 was ₹ 12,000. It is to be maintained at ₹ 31,000;

(7) Authorised capital was 30,00,000 shares of ₹ 50 each.

Transcribed Image Text:

Dr. Cr. Loans, cash credits and overdrafts Bank premises Development loan (reserve fund investments) Indian Govt. Securities Interest paid Salaries General expenses Rent, rates and taxes Directors' fees Money at call and short notice Income tax paid Bills discounted Interim dividend (paid up to 30th Sept. 2015) Shares in other companies Cash in hand Cash with RBI Balance with other banks 4,28,000 Subscribed Capital: 15,000 shares of * 50 each 75,000 * 25 fully paid 3,70,000 Reserve Fund 2,30,000 Savings Deposits 20,000 Demand Deposits 32,000 Term Deposits 31,000 Profit and Loss Account Balance as on 1.4.2015 4,000 Interest and discount 3,000 Brokerage, commission and exchange 1,20,000 13,000 70,000 30,000 75,000 89,000 1,00,000 1,00,000 17,90,000 3,75,000 3,70,000 1,94,000 2,50,000 3,50,000 29,000 1,80,000 42,000 17,90,000