Question

Prepare banking company profit and loss and balance sheet with imaginary figures

Answer 1

Explanation:

profit &loss and balance sheet with an imaginary figure

Answer 2

We are required to prepare a profit and loss account and Balance Sheet of a banking company by using imaginary figures. The profit and loss account and the balance sheet of a banking concern will be prepared as under:

• The profits, loss accounts, and balance sheets of the Banks are according to schedule.
• The statements follow a particular format.
• The final accounts of banks are different from the regular final accounts of companies.
• The Banks have to declare quarterly results as well as year-on-year results.
• This is because most of the banks will be listed on the stock exchange and so have many shareholders who depend on the result of the banking concern.

PROJECT CODE: #SPJ3

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