Q1. Following particulars relate to the NCR Bank for the year ended 31st March 2020: Rs 4500 82500 33000 30500 PARTICULARS Rs PARTICULARS Interest on cash credits 360000 Printing and stationery Interest on fixed deposits 477000 Unexpired discount on bills discounted Interest on loans 420000 Rent and taxes Establishment expenses 90000 | Commission charged Interest on overdrafts 90000 | Discount on bills discounted Interest on savings bank 142500 Audit fees accounts Postage & telegram 3000 Sundry expenses Interest on current accounts 0 Make a provision of Rs 45,000 for doubtful debts. 315000 7500 5000 Note: cash credit is a short-term loan Required: Prepare the Profit and Loss account of the bank along with the required schedules. BANK P&L ACCOUNT FORMAT: NCR BANK PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 2020 Schedule Rs 1 Income: Interest earned Other income Total 13 14 15 Expenditure: Interest expended Operating expenses Provision and contingencies Total 16 III Profit Net profit for the year