Exercise No. (7): From the following ledger balances of Nizwa Bank as on 31st Dec.2016,...
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Accounting
Exercise No. (7): From the following ledger balances of Nizwa Bank as on 31st Dec.2016, prepare income statement and Balance Sheet OMR OMR ('000) ('000) Fixed Deposit 3,250 Share Capital 2,500 Savings Deposit 17,750 Statutory Reserves 1,500 Current Accounts 38,750 Profit (previous year) 100 Money at call and short notice 2,400 Bills Payable 4,000 Investments 15,500 Sundry Creditors 250 Interest accrued 1,000 General reserve 700 Borrowed from other General Expenses 50 banks 4,800 Dividend 250 Non-Banking assets 1,200 Cash in hand 750 Interest and Discount 3,250 Premises 6,500 Unclaimed Dividends 50 Cash at Central Bank 7,050 Loans, Overdrafts 35,000 Payment to Cash at Other Banks 5,200 Employees 400 Bills Discounted and Deposits from other banks 1,000 Purchased 2,500 Rent, taxes 100 Additional Information: a. Rebate on bills discounted to OMR 25 b. Allow 5% depreciation on Premises on cost. c. Provide OMR 250 for provision for doubtful debts
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