Answer the following questions: 1. The following is the trial balance of Big bank LLC as on 31/12/2020 Cr OMR 750,000 Particulars Share capital Loans and advances Bank premises Government securities Dr OMR 8,020,000 532,500 1,530,000 450,000 9,646,000 800,000 General reserve Deposits Interest and discounts Interest on deposits and borrowings Balance with other banks Money at call and short notice General expenses Rent, rate and taxes Director's fees Auditor's fees Bills discounted Furniture (depreciation up to 1/1/2020 Borrowings from other banks Salaries and allowances Computer Profit& loss 1.1.2020 Miscellaneous income Commission Interim dividend Cash in hand with CBO Total Consider the following information furnished, prepare Income statement and the Balance sheet for the year ended 31/12/2020 200,000 100,500 85,500 |82,500 6,900 4,200 1,200 90,000 80,000 105,000 85,500 35,000 37,500 300 10,000 30,000 |915,000 11,798,800 11,798,800 i) Interest accrued on investment OMR 12,000 ii) Rebate on bills discounted OMR 15,000 iii) Debts amounting to OMR 65,000 were doubtful and provision is to be made for the same. iv) Depreciation to be charged at 10% on the original cost of furniture.

Answer the following questions: 1. The following is the trial balance of Big bank LLC as on 31/12/2020 Cr OMR 750,000 Particulars Share capital Loans and advances Bank premises Government securities Dr OMR 8,020,000 532,500 1,530,000 450,000 9,646,000 800,000 General reserve Deposits Interest and discounts Interest on deposits and borrowings Balance with other banks Money at call and short notice General expenses Rent, rate and taxes Director's fees Auditor's fees Bills discounted Furniture (depreciation up to 1/1/2020 Borrowings from other banks Salaries and allowances Computer Profit& loss 1.1.2020 Miscellaneous income Commission Interim dividend Cash in hand with CBO Total Consider the following information furnished, prepare Income statement and the Balance sheet for the year ended 31/12/2020 200,000 100,500 85,500 |82,500 6,900 4,200 1,200 90,000 80,000 105,000 85,500 35,000 37,500 300 10,000 30,000 |915,000 11,798,800 11,798,800 i) Interest accrued on investment OMR 12,000 ii) Rebate on bills discounted OMR 15,000 iii) Debts amounting to OMR 65,000 were doubtful and provision is to be made for the same. iv) Depreciation to be charged at 10% on the original cost of furniture.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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