Questions about the Income Statement. a. List 2 expense accounts AND their amounts for 2020.b. What was the net profit/(loss) for 2020? What about 2019?c. Compared with 2019, has the net profit/(loss) increased or decreased? Questions about the Statement of Financial Position.a. How much was the Cash account balance at December 31, 2020? What about 2019?b. Mention the biggest liability with its amount for the company at December 31, 2020.c. What was the Total Equity for the company at December 31, 2020? What about December 31, 2019? بنك بوبیانBOUBYAN BANK K.S.C.P. AND SUBSIDIARIESBoubyan BankCONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the year ended 31 December 202020202019NotesKD'000sKD'000sIncomeMurabaha and other Islamic financing income223,064207,629Finance cost and distribution to depositors(84,175)(88,170)Net financing income138,889119,459Net investment income6,8366,195Net fees and commission income812,27516,428Net foreign exchange gain5,1573,687Other income354,325Net operating income167,482145,769Staff costs(45,230)(36,094)General and administrative expenses(20,011)(17,078)Depreciation(9,156)(7,892)Operating expenses(74,397)(61,064)Operating profit before provision for impairment93,08584,705Provision for impairment9(59,015)(18,711)Operating profit before taxation and board of directors' remuneration34,07065,994Тахation10(73)(2,867)Board of directors' remuneration(450)(450)Net profit for the year33,54762,677Attributable to:Equity holders of the Bank34,42162,647Non-controlling interests(874)30Net profit for the year33,54762,677Basic and diluted earnings per share attributable to the equity holders ofthe Bank (fils)119.6619.41 ہنك بوبیانBOUBYAN BANK K.S.C.P. AND SUBSIDIARIESBoubyan BankCONSOLIDATED STATEMENT OF FINANCIAL POSITIONAs at 31 December 202020202019NotesKD'000sKD'000sAssetsCash and balances with banks12286,718232,393Deposits with Central Bank of Kuwait336,934306,156Deposits with other banks13180,092330,046Islamic financing to customers144,823,2663,826,073Investment in Sukuk15523,046306,315Other investment securities1599,109101,215Investments in associates174,07333,144Investment properties1847,13346,555Other assets1945,41932,422Property and equipment91,35986,229Total assets6,437,1495,300,548Liabilities and EquityLiabilitiesDue to banks281,371236,480Depositors' accounts5,107,7284,347,226Medium term financing20305,509Other liabilities21115,81163,661Total liabilities5,810,4194,647,367EquityShare capital22302,827288,407Share premium23156,942156,942Treasury shares25(54)(54)Statutory reserve2635,51231,848Voluntary reserve2730,46830,468Other reserves27(21,958)(8,354)Retained earnings14,12376,191Equity attributable to equity holders of the Bank517,860575,448Perpetual Tier 1 Sukuk2875,38875,388Non-controlling interests33,4822,345Total equity626,730653,181Total liabilities and equity6,437,1495,300,548Adel Abdul Wahab Al MajedVice Chairman & Group Chief Executive OfficerAbdulaziz Abdúllah Dakheel Al-ShayaChairman

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Answered: Questions about the Income Statement.…

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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Questions about the Income Statement.

a. List 2 expense accounts AND their amounts for 2020.

b. What was the net profit/(loss) for 2020? What about 2019?

c. Compared with 2019, has the net profit/(loss) increased or decreased?

Questions about the Statement of Financial Position.

a. How much was the Cash account balance at December 31, 2020? What about 2019?

b. Mention the biggest liability with its amount for the company at December 31, 2020.

c. What was the Total Equity for the company at December 31, 2020? What about December 31, 2019?

بنك بوبیان
BOUBYAN BANK K.S.C.P. AND SUBSIDIARIES
Boubyan Bank
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the year ended 31 December 2020
2020
2019
Notes
KD'000s
KD'000s
Income
Murabaha and other Islamic financing income
223,064
207,629
Finance cost and distribution to depositors
(84,175)
(88,170)
Net financing income
138,889
119,459
Net investment income
6,836
6,195
Net fees and commission income
8
12,275
16,428
Net foreign exchange gain
5,157
3,687
Other income
35
4,325
Net operating income
167,482
145,769
Staff costs
(45,230)
(36,094)
General and administrative expenses
(20,011)
(17,078)
Depreciation
(9,156)
(7,892)
Operating expenses
(74,397)
(61,064)
Operating profit before provision for impairment
93,085
84,705
Provision for impairment
9
(59,015)
(18,711)
Operating profit before taxation and board of directors' remuneration
34,070
65,994
Тахation
10
(73)
(2,867)
Board of directors' remuneration
(450)
(450)
Net profit for the year
33,547
62,677
Attributable to:
Equity holders of the Bank
34,421
62,647
Non-controlling interests
(874)
30
Net profit for the year
33,547
62,677
Basic and diluted earnings per share attributable to the equity holders of
the Bank (fils)
11
9.66
19.41

ہنك بوبیان
BOUBYAN BANK K.S.C.P. AND SUBSIDIARIES
Boubyan Bank
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31 December 2020
2020
2019
Notes
KD'000s
KD'000s
Assets
Cash and balances with banks
12
286,718
232,393
Deposits with Central Bank of Kuwait
336,934
306,156
Deposits with other banks
13
180,092
330,046
Islamic financing to customers
14
4,823,266
3,826,073
Investment in Sukuk
15
523,046
306,315
Other investment securities
15
99,109
101,215
Investments in associates
17
4,073
33,144
Investment properties
18
47,133
46,555
Other assets
19
45,419
32,422
Property and equipment
91,359
86,229
Total assets
6,437,149
5,300,548
Liabilities and Equity
Liabilities
Due to banks
281,371
236,480
Depositors' accounts
5,107,728
4,347,226
Medium term financing
20
305,509
Other liabilities
21
115,811
63,661
Total liabilities
5,810,419
4,647,367
Equity
Share capital
22
302,827
288,407
Share premium
23
156,942
156,942
Treasury shares
25
(54)
(54)
Statutory reserve
26
35,512
31,848
Voluntary reserve
27
30,468
30,468
Other reserves
27
(21,958)
(8,354)
Retained earnings
14,123
76,191
Equity attributable to equity holders of the Bank
517,860
575,448
Perpetual Tier 1 Sukuk
28
75,388
75,388
Non-controlling interests
33,482
2,345
Total equity
626,730
653,181
Total liabilities and equity
6,437,149
5,300,548
Adel Abdul Wahab Al Majed
Vice Chairman & Group Chief Executive Officer
Abdulaziz Abdúllah Dakheel Al-Shaya
Chairman

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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