From the following information, prepare P & L A/c of New Bank of India Ltd. as on 31 March 2011:
|
(Rs. in ’000) |
|
|
Interest and Discount |
1,82,70 |
|
Income from Investments |
6,90 |
|
Interest on Balances with RBI |
10,80 |
|
Commission, Exchange and Brokerage |
49,20 |
|
Profit on Sale of Investments |
6,60 |
|
Interest on Deposits |
73,50 |
|
Interest to RBI |
9,66 |
|
Payment to and Provision for Employees |
62,64 |
|
Rent, Taxes and Lighting |
12,60 |
|
Printing and Stationery |
10,80 |
|
Advertisement and Publicity |
5,70 |
|
Depreciation |
5,62 |
|
Directors’ Fees |
13,20 |
|
Auditor’s Fees |
7,20 |
|
Law Charges |
13,80 |
|
Postage & Telephone |
4,20 |
|
Insurance |
3,36 |
|
Repairs & Maintenance |
2,88 |
Other information:
- Interest and discount mentioned above is after adjustment for the following:
|
(Rs. in ’000) |
|
|
Tax Provision for the Year |
13,20 |
|
Provision During the Year |
6,12 |
|
for Doubtful Debts |
|
|
Loss on Sale of Investment |
72 |
|
Rebate on Bills Discounted |
3,48 |
20% of profit is transferred to statutory reserve.
5% of profit is transferred to revenue reserve.
Profit brought forward from last year is Rs.96,000.