4. (a) From the following information, prepare profit and loss account of ABC Bank Ltd. For...

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4. (a) From the following information, prepare profit and loss account of ABC Bank Ltd. For the year ended 31.03.2022. Interest on loans Interest of Fixed Deposits Commission (i) (ii) Salaries Discount Received Interest on Cash Credits Interest on Current Accounts. Rent and Taxes Interest on Overdraft Audit & Directors Fee Interest on savings bank accounts Sundry Expenses Additional Information: (Rs.) 2,59,000 2,75,000 OR 8,000 54,000 2,00,000 2,25,000 40,000 18,000 1,50,000 5,000 70,000 6,000 Provide Rs. 40,000 for bad debts and for tax 50,000. Provide Rs. 20,000 for dividend and previous years profit was Rs. 1,50,000 4. (a) From the following information, prepare profit and loss account of ABC Bank Ltd. For the year ended 31.03.2022. Interest on loans Interest of Fixed Deposits Commission (i) (ii) Salaries Discount Received Interest on Cash Credits Interest on Current Accounts. Rent and Taxes Interest on Overdraft Audit & Directors Fee Interest on savings bank accounts Sundry Expenses Additional Information: (Rs.) 2,59,000 2,75,000 OR 8,000 54,000 2,00,000 2,25,000 40,000 18,000 1,50,000 5,000 70,000 6,000 Provide Rs. 40,000 for bad debts and for tax 50,000. Provide Rs. 20,000 for dividend and previous years profit was Rs. 1,50,000

Answer rating: 100% (QA)

CALCULATIONS Interest on loans Rs 259000 Interest on Fixed Deposits Rs 275000 Interest on Cash Credi... View the full answer