Question

B B R 1 F O I ( * 2,00.000; Schedule 16 = 6,40, 14. The following are the balances of Indian Syndicate Bank Ltd. as at 31st March, 2014 : ₹ * Share Capital: 8.875 shares of 100 each 8,87,500 Reserve 5,00,000 Current Accounts 25,81,343 Deposit Accounts 6,85,135 Endorsements for Customers 1,61,599 Acceptances for Customers 1,78,617 Reserve for Final Dividend - 56,005 Profit & Loss Account Balance on April 1, 2013 1,28,139 Interest Received 1,41,010 > Discount 38,461 Commission 1,54,859 >Dividends Received less Tax, 86,251 Cash in hand 3,41,644 Balance with Reserve Bank of India 6,21,858 Money at Call and Short Notice 2,79,416 Bills Discounted 8,33,483 Advance to Customers 13,42,120 Liability of Customers for Endorsements 1,61,599 Liability of Customers for Acceptances 1,78,617 Bank Premises 2,60,000 Shares in Subsidiary Co. at Cost 2,48,000 Shares in Affiliated Co. at Cost 1,68,000 Balances with other Banks 2,24,220 Investments at Cost 6,18,358 Interest paid 42,048 General Expenses 1,91,363 Dividends Interim 32,188 Final 56,005 You are required to prepare a Profit & Loss Account and Balance Sheet after taking into account the 55,98,919 following adjustments: (a) Rebate on bills discounted 73,271; (b) Reserve ? 20,000 for taxation Ans Total of Balance Sheet 49,37,099; Net Profit* 1,63,899, Balance of Profit carried to Balance 55,98,919​

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