Exercise No.(7): From the following ledger balances of Nizwa Bank as on 31st Dec.2016prepare income statement and Balance SheetOMROMR('000)3,250('000)2,500Share CapitalStatutory Reserves 2Profit (previous year)Bills PayableSundry CreditorsGeneral reserveFixed DepositSavings DepositCurrent Accounts 317,7501,50038,750100Money at call and short notice3.2,4004,00015,5001,000Investments250Interest accrued700General Expenses1650Borrowed from other banks4 4,800Dividend11Non-Banking assetsInterest and Discount 32501,200Cash in hand7503,250Premises106,500Unclaimed Dividends 550Cash at Central Bank 67,050Loans, Overdrafts35,000Cash at Other Banks5,200Payment to Employees (6400BillsDiscountedandDeposits from other banks 31,000Purchased1412,500Rent, taxes16100Additional Information:a. Rebate on bills discounted to OMR 25b. Allow 5% depreciation on Premises on cost.c. Provide OMR 250 for provision for doubtful debts

Balance Sheet- The balance sheet is a financial statement that shows an organization's assets,…

Exercise No. (7) prepare income sta Fixed Deposit Savings Deposit Current Account: Money at call and Investments Interest accrued General Expense Dividend Cash in hand Premises Cash at Central E Cash at Other Ba Deposits from of Rent, taxes Additional Inform. a. Rebate on b

Exercise No. (7) prepare income sta Fixed Deposit Savings Deposit Current Account: Money at call and Investments Interest accrued General Expense Dividend Cash in hand Premises Cash at Central E Cash at Other Ba Deposits from of Rent, taxes Additional Inform. a. Rebate on b

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter16: Financial Statements And Closing Entries For A Corporation

Section: Chapter Questions

Problem 5AP

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Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown in random order as follows: Required: 1. Prepare a December 31, 2019, balance sheet for Baggett. 2. Compute the debt to-assets ratio.
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