From the following information prepare the Profit and Loss Account of Jawahar Bank Limited for the year
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From the following information prepare the Profit and Loss Account of Jawahar Bank Limited for the year ended 31st March, 2015. Also give necessary Schedules.
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Interest earned on term loans Interest earned on term loans classified as NPA Interest received on term loans classified as NPA Interst on cash credits and overdrafts Interest earned but not received on cash credit and overdraft treated as NPA Interest on deposits Commission Profit on sale of investments Profit on revaluation of investments Income from investments Salaries, bonus and allowances Rent, taxes and lighting Printing and stationary Director's fees, allowances expenses Law charges Repairs and maintenance Insurance Other Information: Make necessary provision on risk assets: (i) Sub-standard (ii) Doubtful for one year (iii) Doubtful for two years (iv) Loss assets Investments in '000 17.26 4.52 2.04 38.54 8.39 27.20 1.97 11.76 2.76 15.53 18.75 1.70 0.75 1.33 0.22 0.18 0.30 15.00 7.00 2.40 0.65 3700 Bank should not keep more than 25% of its investments as 'held-for-maturity' investment. The market value of rest of its 75% investments is 9,00,000 as on 31st March, 2015.
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Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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