From the following figures have to draft balance sheet and
profit & loss accountPaid up capitalRS
500000Reserve FundRs 3
5000Fixed Deposit A/CRs 9 50000Saving Bank Deposits30 00000Current Accounts8000000Money at callShort
notice300000Investment (at cost)3000000Interest accrued and paid200000Salaries( including salary to general80000ManagerRS. 24000& Directors fee Rs 5000 )Rent
20000General Expense
10000(Including Stationary rps 5000 &Auditor fee rps 2000)Profit &loss a/c (cr)on ist jan 2009210000Dividend for 200850000Premises (after depreciation )1200000Cash in hand
60000cash with state bank
1300000Borrowed from bank700000Interest & Discounts
650000Bills Discounted and purchased500000Bills Payable
800000Loans overdrafts and cash credits7000000unclaimed dividends
30000Sundry creditors
30000Bills for collection140000Acceptance & endorsement200000on behalf of customersRebate on bills discounted & purchased for unexpired
term amounted rs : 5000Allow 5% depreciation on premises on original cost.A
provision for doubtful amounted to rs 30000 is required. The authorized
Capital of bank is rs 1000000