From the following balances of Hope Bank Ltd. as on 31 March 2011, prepare a profit and loss A/c and a balance sheet for the relevant year:

Balances as on 31 March 2011

(Rs. in ’000)

Share Capital (Equity Shares

9,900

of Rs.100 Each Fully Paid

Reserve Fund

1,920

Current Accounts

30,000

Savings Bank Accounts

15,000

Fixed Deposit Accounts

7,500

P & L A/c

2,400

Money at Call and Short Notice

1,800

Salaries (Including Rs.3,60,000 to GM)

9,600

Directors’ Fees

150

Investment (at Cost)

22,500

General Expenses

210

Audit Fees

120

Building (Net of Depreciation

6,720

up to 31 March 2010) Rs.16,80,000

Borrowing from Banks

6,300

Cash with Other Banks

5,400

Cash with RBI

9,000

Cash in Hand

750

Interest and Discount Received

30,240

Bills Payable

12,600

Bills Discounted & Purchased

9,000

Term Loans

13,500

Cash Credits

35,010

Sundry Creditors

1,500

Bills for Collection

2,940

Acceptances on Behalf of Customers

7,500

Interest Accrued and Paid

3,600

Depreciation has to be provided at 5% on the original cost of the building. A provision of Rs.7,50,000 for bad debts and Rsa.60,00,000 for taxation needs to be made.