Accounts of Banking Companies Question Bank
[BCOM 2nd Sem CBCS Pattern 2023]
In this post you will get Accounts of Banking Companies Question Bank for BCOM 2nd SEM CBCS Pattern. In this Question Bank we will cover Questions asked in the following universities exam:
– Dibrugarh UniversityÂ
– Gauhati University
– Assam University
1. 2019 (New Course) Following figures are extracted from the books of J. K. Bank Ltd. as on 31.03.2019:
|
 Particulars |
Rs. (‘000) |
|
Interest and discount received Interest paid on deposits Share Capital Commission and exchange Rent received Profit on sale of Investment Salaries paid to employees Rent paid Stationery Postal expenses Audit fees Depreciation on Bank’s properties Director’s fees Preliminary expenses |
4,060 2,404 1,000 180 60 190 210 108 48 40 8 25 34 10 |
Further Information:
1) A customer to whom a sum of Rs. 5,00,000 has been advanced has become insolvent and 40% recovered from his estate.
2) Provision for bad and doubtful debts necessary Rs. 1,00,000.
3) Rebate on bills discounted as on 31.03.2018 Rs. 10,000 &Rebate on bills discounted as on 31.03.2019 Rs. 15,000.
4) Provide Rs. 7,00,000 for income tax.
5) The directors desire to declare 10% dividend.
2. 2019 (New course) Prepare the Profit & Loss A/c with necessary schedule of Trinity Bank Ltd. for the year ended 31st March, 2019:Â Â Â Â Â Â Â 12
|
 Particulars |
Rs. (‘000) |
|
Interest on loans Interest on deposits Commission, exchange and brokerage Discount on bills discounted (gross) Payment to employees Interest on cash credit Rent and rates Interest on overdrafts Directors’ fees Auditors’ fees Postal expenses Printing and stationery Sundry expenses |
2,590 3,850 82 1,950 540 2,230 180 1,540 30 12 14 29 17 |
Other Information:
|
 |
Rs. (‘000) |
|
(1) Rebate on bills discounted (2) Bad debts (3) Provision for Income Tax |
490 400 1,000 |
3. (2018 New Course) The following are the figures extracted from the books of XYZ Bank Ltd. as on 31st March, 2018:
|
|
Rs. |
|
Interest and Discount received Interest paid on Deposits Issued and Subscribed Capital Reserve under Section 17 Commission, Exchange and Brokerage Rent Received Profit on Sale of Investment Salaries and Allowances Director’s Fees and Allowances Rent and Taxes paid Stationery and Printing Postage, Telephone and Internet Charges Audit Fees Depreciation on Bank’s Properties Other Expenses |
20,30,000 12,02,000 5,00,000 3,50,000 90,000 30,000 95,000 1,05,000 12,000 54,000 12,000 25,000 4,000 12,500 12,000 |
Other Information:
1) A customer to whom a sum of Rs. 2,50,000 has been advanced, has become insolvent and it is expected that 40% of the sum can be recovered from his estate. Interest due at 15% on his debt has not been provided in the books.
2) Provision for bad and doubtful debts on other debts necessary Rs. 50,000.
3) Provide Rs. 3,50,000 for Income-tax.
4) The directors desire to declare 10% dividend.
Make the necessary assumptions and prepare the Profit and Loss Account of XYZ Bank Ltd. in accordance with law.
4. (2018 Old Course) From the following particulars, prepare Profit and Loss Account of Safety Bank Ltd. for the year ended on 31st March, 2018:
|
|
Rs. |
|
Interest on Deposits Commission (Cr.) Interest on Loans Sundry Charges (Dr.) Rent and Taxes Payment to Employees Discount on Bills Discounted Interest on Overdrafts Interest on Cash-credit Auditor’s fees Director’s fees Bad debts to be written off |
3,200 100 2,490 100 200 500 1,490 1,600 2,320 30 20 130 |
5. (2017) From the following information, prepare Profit & Loss A/c of Jai Bharat Bank Ltd. For the year ended 31st March, 2017. Working should from a part of your answer: 14
|
Particulars |
Rs. (in ‘000) |
Particulars |
Rs. (in ‘000) |
|
Interest on loans Interest on fixed deposits Commission Exchange and brokerage Salaries and allowances Discount on bills(gross) Interest on cash credit Interest on temporary overdrafts in current accounts |
300 275 10 20 150 152 240 Â 30 |
Interest on Savings Bank deposits Postage and stamps Printing and stationery Sundry expenses Rent Taxes and licences Audit fees |
87 10 20 10 15 10 10 |
Additional information:
a) Rebate on bills discounted- Rs. 30,000
b) Salary of managing director- Rs. 30,000
c) Provision for bad debts- Rs. 40,000
d) Provision for income tax is to be made @ 55% (round off to the nearest thousands)
e) Interest of Rs. 4,000 on doubtful debts was wrongly credited to Interest on Loan A/c
f) Provide Rs. 15,000 as dividend
6. (2017 old course) From the following information, prepare the profit & Loss A/c with necessary schedules of AB Bank Ltd. for the year ended 31st March 2017: Â Â Â Â Â Â Â Â Â Â 12
                                                           Rs.
Interest on Loans                                                                             25,90,000
Interest on Deposits                                                                         38,50,000
Rebate on Bills Discounted                                4,90,000
Commission                                               82,000
Establishment Charges                                    5,40,000
Discount on Bills Discounted (Net)Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 14,60,000
Interest on Cash Credit                                   22,30,000
Rent and rates                                             1,80,000
Interest on overdrafts                                     15,40,000
Directors fees                                               30,000
Auditor’s fees                                                12,000
Postal expenses                                              14,000
Printing and Stationery                                       29,000
Sundry Expenses                                             17,000
Other information:
a) Bad debts Rs. 4,00,000
b) Provision for Income Tax Rs. 10,00,000
7. (2016) From the following information, prepare Profit & Loss A/c of Good Luck Bank Ltd. for the year ended on 31st March, 2016: Â Â Â Â 14
|
|
Rs. (‘000) |
|
Interest on Loans Interest on Fixed Deposits Commission Payment to Employees Discount on Bills Discounted Interest on Cash Credit Rent, Taxes and Lighting Interest on Overdrafts Director’s Fees Auditor’s Fees Interest on Saving Bank Deposits Postage and Telephone expenses Printing and Stationery Sundry Expenses Additional Information: Provide for Contingencies Transfer to Reserves Transfer to Central Government |
5,180 6,340 164 1,080 2,120 4,460 360 3,080 60 24 1,360 28 58 34 400 300 400 |
8. (2016 old course) From the following information, prepare P/L A/c of Assam Bank Ltd. for the year ended on 31stMarch, 2016:
|
|
Rs. |
|
Commission Interest on Loan Interest on Fixed Deposits Salaries & Allowances Exchange & Brokerage Discount on Bills (Gross) Interest on Cash Credits Interest on Temporary Overdraft on Current A/c Interest on Savings Bank Deposits Postage, Telegram and Stamps Printing and Stationery Sundry Expenses Rent Taxes and Licenses Audit Fee |
10,000 3,00,000 2,75,000 1,50,000 20,000 1,52,000 2,40,000 30,000 87,000 10,000 20,000 10,000 15,000 10,000 10,000 |
Additional Information:Â Â Â Â Â Â Â Â Â 12
a) Provision for income tax is to be maintained @ 55%.
b) Rebate on Bills Discounted – Rs. 30,000.
c) Bad Debts – Rs. 40,000.
d) Provide for Directors’ fees and allowances – Rs. 30,000.
e) Transfer 20% net profit to Statutory Reserve and provide Rs. 15,000 as dividends.
f) Interest of Rs. 4,000 on doubtful debts was wrongly credited to interest on Loan Account.
9. (2015) The following figures are extracted from the books of Guwahati Bank Ltd. as on 31.03.2014:
|
|
Rs. |
|
Interest and discount received Interest paid on deposits Issued and subscribed capital Reserve under Section 17 Commission, exchange and brokerage Rent received Profit on sale of investment Salaries and allowances Directors’ fees and allowances Rent and taxes paid Stationary and printing Postage Other expenses Audit fees Depreciation on bank’s properties |
40,30,000 24,04,000 10,00,000 7,00,000 1,80,000 60,000 1,90,000 2,10,000 24,000 1,08,000 24,000 50,000 24,000 8,000 25,000 |
Other information:
i. Provision for bad and doubtful debts necessary Rs. 1,00,000
ii. Rebate on bills discounted as on 31.03.2014 Rs. 15,000
iii. Provide Rs. 7,00,000 for income tax
iv. The Directors’ desire to declare dividend @ 10%
Prepare the Profit and Loss Account of Guwahati Bank Ltd. for the year ended 31st March, 2014 14
10. (2015 old course) From the following information, prepare the Profit and Loss Account of ABC Bank Ltd. for the year ended 31st March, 2014: Â Â Â Â Â Â Â Â Â Â Â Â Â Â
|
|
Rs. |
|
Interest on fixed deposits Interest on loans Commission Rebates on bill discounted Establishment charges Discount on bills discounted (net) Interest on cash credit Interest in Current Accounts Rent and rates Interest on overdrafts Directors’ fees Auditors’ fees Interest on savings bank deposits Postage and telegrams Sundry charges Printing and stationery |
27,50,000 25,90,000 82,000 4,90,000 5,40,000 14,60,000 22,30,000 4,20,000 1,80,000 15,40,000 30,000 12,000 6,80,000 14,000 17,000 29,000 |
Bad debts to be written-off amounted to Rs. 4, 00,000. Provision for taxation may be made at 55%.
11. (2014) From the following information, prepare Profit & Loss A/c of Assam Bank Ltd. for the year ended 31st March, 2014 (working should form part of your answer):Â Â Â Â Â Â 11
|
Interest on Loan |
3,00,000 |
|
Interest on Fixed Deposits |
2,75,000 |
|
Commission |
  10,000 |
|
Exchange and Brokerage |
  20,000 |
|
Salaries and Allowances |
1,50,000 |
|
Discount on Bills (Gross) |
1,52,000 |
|
Interest on cash credits |
2,40,000 |
|
Interest on Temporary Overdrafts in Current Account |
  30,000 |
|
Interest on Savings Bank Deposits |
  87,000 |
|
Postage, Telegram and Stamps |
  10,000 |
|
Printing and Stationery |
  20,000 |
|
Sundry expenses |
  10,000 |
|
Rent |
  15,000 |
|
Taxes and Licenses |
  10,000 |
|
Audit Fees |
  10,000 |
Additional information:
a) Rebate on bill discounted – Rs. 30,000
b) Director’s Fees and allowances Rs. – Rs. 30,000
c) Bad Debts – Rs. 40,000
d) Provision for Income Tax is to be made @ 55% (round off to nearest thousand)
e) Interest of Rs. 4,000 on doubtful debts was wrongly credited to interest on Loan Account
f) Transfer 20% of Net Profit to statutory reserve and provide Rs. 15,000 as dividend.
12. (2013) From the following information, prepare Profit & Loss Account of thirty Bank for the year ended on 31st March, 2012 by showing necessary schedules: (in’000)             12
|
Interest on Loans Interest on fix Deposits Commission Payment to Employees Discount on Bills Discounted Interest on Cash Credits Rent, Taxes and lighting Interest on overdrafts Directors’ Fees, Allowance and Expenses Auditors’ Fees and Expenses Interest on saving Bank Deposits Postage, Telegrams and Telephone Printing and Stationary Sunday Charges |
2590 3170 82 540 1060 2230 180 1540 30 12 680 14 29 17 |
Additional Information:
a) Provisions for contingencies—Rs. 2,00,000
b) Transfer to reserves Rs. 15,57,000
c) Transfer to Central Government—Rs.2,00,000
Questions which are asked in previous exams before Nov’ 2012
1. From the following information, prepare the Profit & Loss Account of Adarsh Bank Ltd. For the year ended 31st March 2005:
|
Interest on Loan |
5180 |
Interest on over draft |
3080 |
|
Interest on fixed deposits |
6340 |
Director’s fees |
60 |
|
Commission |
164 |
Auditors’ fees |
24 |
|
Payments to employees |
1080 |
Interest on savings deposits |
1360 |
|
Discount on bills discounted |
2120 |
Postage, telegrams and telephone exp |
28 |
|
Interest on cash credit |
4460 |
Printing and stationery |
58 |
|
Rent, tax and lighting expenses |
360 |
Sundry exp |
34 |
Additional information
(I) Provide for contingencies Rs. 4,00,000
(II) Transfer Rs. 30,00,000 to Reserve
(III) Transfer Rs. 40,00,000 to Central Govt.Â
2. From the following information prepare the Profit & Loss Account with necessary schedules of the Trinity Bank Ltd. For the year ended 31st March 2003.
|
Interest on Loan Interest on Deposits Rebate on Bills Discounted Commission Discount on Bills Discounted(Net) Interest on cash credit Rent and Taxes Interest on overdraft Director’s fees Auditors Fees Postal Expenses Printing and Stationery Sundry Exp. Other information’s:- (i). Bad Debts (ii). Provision for income tax |
25,90,000 38,50,000 4,90,000 5,40,000 14,60,000 22,30,000 1,80,000 15,40,000 30,000 12,000 14,000 29,000 17,000 4,00,000 10,00,000 |
PRACTICAL QUESTION BANK (FROM 2012 TO 2022)
ISSUE OF SHARES, RIGHT SHARES AND BONUS SHARES
REDEMPTION OF PREFERECE SHARES
ISSUE AND REDEMPTION OF DEBENTURES
AMALGAMATION AND EXTERNAL RECONSTRUCTION
Important Theory Questions for 2023 BCOM Exams available here.