Following are some of the balances as on 31 March 2011 of Sindh Bank Ltd.:
|
(Rs. in ’000) |
|
|
Interest on Advances |
2,400 |
|
Commission, Exchange and |
600 |
|
Brokerage |
|
|
Cash Balance |
600 |
|
Balance with Other Banks |
1,200 |
|
Cash with RBI |
300 |
|
Profits on Sale of Investments |
60 |
|
Other Revenue Receipts |
240 |
|
Share Capital |
6,000 |
|
20% Investment in Govt. |
900 |
|
Securities (Purchased at 60% |
|
|
of Face Value) |
|
|
Other Securities @ 25% |
300 |
|
(Purchased at Par) |
|
|
Borrowing from Other Banks |
900 |
|
Printing and Stationery |
105 |
|
Repairs |
75 |
|
Statutory Reserves |
2,700 |
|
P & L A/c (Cr.) |
1,950 |
|
Bills Purchased and |
750 |
|
Discounted |
|
|
Cash Credit, Overdrafts & |
4,275 |
|
Demand Drafts |
|
|
Term Loans |
3,825 |
|
Fixed Deposits |
825 |
|
Savings Deposits |
975 |
|
Current Deposits |
375 |
|
Premises (Net) |
4,125 |
|
Furniture |
750 |
|
Interest (Includes Paid 135) |
360 |
|
Salary |
225 |
|
Bills Payable (Net) |
75 |
|
Postage etc. |
60 |
The following additional information is furnished:
- Advances have been classified as under with given details:
|
Cash Credit Overdrafts Demand Loans |
Term Loans (Rs. in ’000) |
|
|
Standard Assets |
3,000 |
2,925 |
|
Sub Standard |
? |
? |
|
Assets |
||
|
Doubtful–Up to 1 Year |
300 |
60 |
|
-1–3 Years |
360 |
150 |
|
-More than 3 Years |
150 |
240 |
|
Less Assets |
90 |
? |
- Standard and sub-standard assets in bills portfolio are in the ratio of 9:1.
- Term loans comprise loss assets, which are half of its sub-standard.
- No provision has been made so far against these assets.
- Doubtful assets are secured to the extent of 50% of the dues.
- Forty per cent of the total interest on investments has been accrued
- Bills for collection Rs.705 (in thousands)
Prepare final accounts of Sindh Bank Ltd.