From the following information prepare P & L A/c of Mumbai Bank Ltd. as on 31 March 2011:
|
(Rs.in ’000) |
|
|
Interest and Discount |
6,090 |
|
Income from Investments |
230 |
|
Interest on Balance with RBI |
360 |
|
Commission, Exchange and Brokerage |
1,640 |
|
Profit on Sale of Investments |
220 |
|
Interest on Deposits |
2,450 |
|
Interest Paid to RBI |
322 |
|
Payment to and Provision for Employees |
2,088 |
|
Rent, Taxes and Lighting |
420 |
|
Printing and Stationery |
360 |
|
Advertisement and Publicity |
190 |
|
Depreciation |
184 |
|
Director’s Fees |
440 |
|
Auditor’s Fees |
240 |
|
Law Charges |
460 |
|
Postage & Telephone |
140 |
|
Insurance |
112 |
|
Repairs & Maintenance |
96 |
Other information:
- Interest and discount mentioned above is after adjustment for the following:
|
(Rs. in ’000) |
|
|
Tax Provision for the Year |
400 |
|
Provision During the Year for Doubtful Debts |
204 |
|
Loss on Sale of Investments |
24 |
|
Rebate on Bills Discounted |
116 |
25% of the profit is to be transferred to statutory reserves and 5% of the profit is to be transferred to revenue reserve. Profit brought forward from last year is Rs.32,000.