Exercise No. (7): From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and Balance Sheet OMR OMR ('000) | 3,250 | Share Capital 17,750 Statutory Reserves 38,750 Profit (previous year) ('000) Fixed Deposit Savings Deposit | 2,500 1,500 Current Accounts 100 Money at call and short notice 2,400 | Bills Payable 15,500 Sundry Creditors 4,000 Investments 250 Interest accrued 1,000 | General reserve 700 General Expenses 50 Borrowed from other banks 4,800 Dividend 250 Non-Banking assets 1,200 Cash in hand 750 Interest and Discount 3,250 6,500 | Unclaimed Dividends 7,050 | Loans, Overdrafts 5,200 Payment to Employees Premises 50 Cash at Central Bank 35,000 Cash at Other Banks 400 Bills Discounted and Deposits from other banks 1,000 Purchased 2,500 Rent, taxes 100 Additional Information: a. Rebate on bills discounted to OMR 25 b. Allow 5% depreciation on Premises on cost. c. Provide OMR 250 for provision for doubtful debts

Exercise No. (7): From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and Balance Sheet OMR OMR ('000) | 3,250 | Share Capital 17,750 Statutory Reserves 38,750 Profit (previous year) ('000) Fixed Deposit Savings Deposit | 2,500 1,500 Current Accounts 100 Money at call and short notice 2,400 | Bills Payable 15,500 Sundry Creditors 4,000 Investments 250 Interest accrued 1,000 | General reserve 700 General Expenses 50 Borrowed from other banks 4,800 Dividend 250 Non-Banking assets 1,200 Cash in hand 750 Interest and Discount 3,250 6,500 | Unclaimed Dividends 7,050 | Loans, Overdrafts 5,200 Payment to Employees Premises 50 Cash at Central Bank 35,000 Cash at Other Banks 400 Bills Discounted and Deposits from other banks 1,000 Purchased 2,500 Rent, taxes 100 Additional Information: a. Rebate on bills discounted to OMR 25 b. Allow 5% depreciation on Premises on cost. c. Provide OMR 250 for provision for doubtful debts

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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