Model: Preparation of trial balance and balance sheetFrom the following particulars of MN Bank Ltd., having its own premises, prepare the balance sheet in the prescribed form as on 31 December 2010.
|
(Rs. in ’000) |
|
|
Authorized Capital |
20,000 |
|
Subscribed Capital: |
|
|
20,00,000 Shares of Rs.10 Each Rs.5 Paid |
10,000 |
|
Investments |
35,000 |
|
Bills Discounted (in India) |
75,000 |
|
Profit & Loss (Cr.) |
4,250 |
|
Endorsement on Bills for Collection |
500 |
|
Liability of Customers for Acceptances |
25,000 |
|
Money at Call and Short Notice |
45,000 |
|
Cash in Hand |
10,000 |
|
Cash with RBI |
20,000 |
|
Reserve |
15,000 |
|
Cash with State Bank |
20,000 |
|
Letters of Credit Issued |
2,500 |
|
Telegraphic Transfer Payable |
4,000 |
|
Bonus Drafts Payable |
6,000 |
|
Short Loans |
200 |
|
Rebate on Bills Discounted |
50 |
|
Acceptances for Customers |
25,000 |
|
Loans and Advances |
50,000 |
|
Cash/Credits |
50,000 |
|
verdrafts |
5,000 |
|
Bills Purchased (Payable Outside India) |
5,000 |
|
Current and Deposit Accounts |
2,80,000 |
|
Investment Fluctuation Fund |
500 |
|
Bills for Collection |
500 |
Note: Prepare a trial balance and determine the balancing figure which constitutes the value of premises.