b. Allow 5% depreciation on Premises on cost. Please I want in World Document. Exercise No. (7): From the following ledger balances ofNizwa Bank as on 31st Dec.2016, prepare income statement andBalance SheetOMROMR('000)3,250 Share Capital17,750 Statutory Reserves38,750 Profit (previous year)('000)Fixed DepositSavings Deposit2,5001,500Current Accounts100Money at call and short notice 2,400 | Bills Payable15,500 Sundry Creditors1,000 | General reserve4,000Investments250Interest accrued700General Expenses50Borrowed from other banks 4,800Dividend250Non-Banking assets1,200Cash in hand750Interest and Discount3,2506,500 Unclaimed Dividends7,050 | Loans, Overdrafts5,200 Payment to EmployeesPremises50Cash at Central Bank35,000Cash at Other Banks400BillsDiscountedandDeposits from other banks1,000 | Purchased2,500Rent, taxes100

Financial Statements- Every entity prepares the statement related to assets, liabilities, cash,…

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b. Allow 5% depreciation on Premises on cost. Please I want in World Document.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 5PA: Multiple-step income statement and balance sheet The following selected accounts and their current...

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Question

b. Allow 5% depreciation on Premises on cost.

Please I want in World Document.

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)
3,250 Share Capital
17,750 Statutory Reserves
38,750 Profit (previous year)
('000)
Fixed Deposit
Savings Deposit
2,500
1,500
Current Accounts
100
Money at call and short notice 2,400 | Bills Payable
15,500 Sundry Creditors
1,000 | General reserve
4,000
Investments
250
Interest accrued
700
General Expenses
50
Borrowed from other banks 4,800
Dividend
250
Non-Banking assets
1,200
Cash in hand
750
Interest and Discount
3,250
6,500 Unclaimed Dividends
7,050 | Loans, Overdrafts
5,200 Payment to Employees
Premises
50
Cash at Central Bank
35,000
Cash at Other Banks
400
Bills
Discounted
and
Deposits from other banks
1,000 | Purchased
2,500
Rent, taxes
100

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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