From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and...
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From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and Balance Sheet Fixed Deposit Savings Deposit Current Accounts. Money at call and short notice Investments Interest accrued General Expenses Dividend Cash in hand Premises Cash at Central Bank Cash at Other Banks Deposits from other banks Rent, taxes OMR ('000) 3,250 17,750 38,750 2,400 15,500 1,000 50 250 750 6,500 7,050 5,200 1,000 100 Share Capital Statutory Reserves Profit (previous year) Bills Payable Sundry Creditors General reserve Borrowed from other banks Non-Banking assets Interest and Discount Unclaimed Dividends Loans, Overdrafts Payment to Employees Discounted Bills Purchased Additional Information: a. Rebate on bills discounted to OMR 25 b. Allow 5% depreciation on Premises on cost. c. Provide OMR 250 for provision for doubtful debts and OMR ('000) 2,500 1,500 100 4,000 250 700 4,800 1,200 3,250 50 35,000 400 2,500 From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and Balance Sheet Fixed Deposit Savings Deposit Current Accounts. Money at call and short notice Investments Interest accrued General Expenses Dividend Cash in hand Premises Cash at Central Bank Cash at Other Banks Deposits from other banks Rent, taxes OMR ('000) 3,250 17,750 38,750 2,400 15,500 1,000 50 250 750 6,500 7,050 5,200 1,000 100 Share Capital Statutory Reserves Profit (previous year) Bills Payable Sundry Creditors General reserve Borrowed from other banks Non-Banking assets Interest and Discount Unclaimed Dividends Loans, Overdrafts Payment to Employees Discounted Bills Purchased Additional Information: a. Rebate on bills discounted to OMR 25 b. Allow 5% depreciation on Premises on cost. c. Provide OMR 250 for provision for doubtful debts and OMR ('000) 2,500 1,500 100 4,000 250 700 4,800 1,200 3,250 50 35,000 400 2,500
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To prepare the income statement and balance sheet for Nizwa Bank as of December 31 2016 we will start by calculating various components and then organ... View the full answer
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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