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)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Q: From the following particulars, prepare the Profit and Loss Account of Bank of Community, for the year ended
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)
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