Q: From the following particulars, prepare the Profit and Loss Account of Bank of Community, for the year ender 31st March 2021? Solution: Total Total Items Commission charged Discount on bills discounted Audit Fee Establishment expenses Printing and Stationery Interest on fixed deposits Interest on cash credits Interest on savings bank accounts Postage telegram Rent and taxes Particulars Schedule No 13 14 13+14 15 16 (13+14)-(15+16) Amounts 100,000 176,000 10,000 30,000 7,000 500,000 450,000 99,000 20,000 45,000 Amounts (SR)

Q: From the following particulars, prepare the Profit and Loss Account of Bank of Community, for the year ender 31st March 2021? Solution: Total Total Items Commission charged Discount on bills discounted Audit Fee Establishment expenses Printing and Stationery Interest on fixed deposits Interest on cash credits Interest on savings bank accounts Postage telegram Rent and taxes Particulars Schedule No 13 14 13+14 15 16 (13+14)-(15+16) Amounts 100,000 176,000 10,000 30,000 7,000 500,000 450,000 99,000 20,000 45,000 Amounts (SR)

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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