AFSO

Q.1) From the following particulars of Sunrise Bank Ltd for the year ended 31-3-23. You are required to prepare Profit and Loss Account as on 31-3-23 in the prescribed form giving schedules. (20Mks) Additional information is as follows: i. Bank auditors suggest to provide 60,000 towards bad and doubtful debts ii. Provision for income tax is required to the extent of 100,000. iii. Rebate on bills discounted to be provided 40,000. iv. The directors of Bank have proposed a dividend of 2,00,000. v. 25% of profit is to be transferred to statutory reserve