PROBLEM 9 Following ledger balances of ABC Bank Ltd. as at 31st March, 2010, are furnished to you. Prepare the Profit and Loss Account and Balance Sheet as per requirements of law : * ('000) * ('000) Statutory Reserve 1,200 Cash 225 Bad Debts written off 128 Interest earned 550 Operating Expenses 182 Balance with Reserve Bank 2,030 Current Accounts 20,245 Balance with Foreign Banks 1,206 Interest Paid 160 Bills for Collection 1,500 Deposits Accounts 6,920 Borrowings from Banks 6,482 Profit and Loss Account, Balance B/F 229 Cash Credits and Overdrafts 15,457 Bills Receivable for Customers 1,500 Investments 9,882 Discount 244 Bills Discounted 6,228 Endorsements and Guarantees 575 Premises 2,217 Commission 45 Share Capital 2,000 Following further information is furnished: (1) Rebate on Bills Discounted to be provided 7 64,000. (2) The Bank had paid an interim dividend of 2,00,000 during the year. PROBLEM 9 Following ledger balances of ABC Bank Ltd. as at 31st March, 2010, are furnished to you. Prepare the Profit and Loss Account and Balance Sheet as per requirements of law : * ('000) * ('000) Statutory Reserve 1,200 Cash 225 Bad Debts written off 128 Interest earned 550 Operating Expenses 182 Balance with Reserve Bank 2,030 Current Accounts 20,245 Balance with Foreign Banks 1,206 Interest Paid 160 Bills for Collection 1,500 Deposits Accounts 6,920 Borrowings from Banks 6,482 Profit and Loss Account, Balance B/F 229 Cash Credits and Overdrafts 15,457 Bills Receivable for Customers 1,500 Investments 9,882 Discount 244 Bills Discounted 6,228 Endorsements and Guarantees 575 Premises 2,217 Commission 45 Share Capital 2,000 Following further information is furnished: (1) Rebate on Bills Discounted to be provided 7 64,000. (2) The Bank had paid an interim dividend of 2,00,000 during the year