Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I don't understand why bills discounted is 3800? Exercise : 4 (000' omitted) Share capital authorized and issued 4000, reserves 6510, fixed deposits 42600, Savings
I don't understand why bills discounted is 3800? Exercise : 4 (000' omitted) Share capital authorized and issued 4000, reserves 6510, fixed deposits 42600, Savings bank 19000, current accounts 23200, money at call and short notice 1800, govt securities 9000, other investments 16000,profit and loss account balance after adjustments 2190, premises 2950, cash in hand and with central bank 10380, balances with other banks 6000, bills discounted 6000, loans .cash credits and overdrafts 51000, drafts payable 70, unclaimed dividends60, rebate on bills discounted 50, short loans 4750, furniture 1164, branch adjustments debit 336, You are required to prepare the balance sheet of the Axis Bank as on 31 december 2012 Solution Amount 10380 6000 Balance sheet of Axis Bank as on 31-12-2012 Liabilities and Equity Amount 1. Share capital Authorized capital Issued capital 4000 Called and paid up capital 2. Reserves and 6510 surpluses 2910 Profit and loss Balance 1800 9000 16000 51000 Assets 1.Cash in hand 6. Cash with other banks 7. Money at call and short notice 8. Investments in govt securities Other securities 9. Advances Loans, Cash credits Overdrafts 10. Bills discounted 11. Fixed assets Premises, furniture and equipment's 12. Other assets Branch adjustments Non banking assets 84800 4750 3. Deposits Fixed 42600 Savings 19000 Current 23200 4. Borrowings (short loans) 5. Current liabilities Unclaimed dividends Rebate on bills Drafts payable 3800 60 50 70 2950 1164 336 102430 102430
I don't understand why bills discounted is 3800?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started