Rebate on bills diScounted 1.1.2020 48 31.12.2020 52 Net profit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Q30)
Calculate the net profit earned by ABC bank, from
the data given below for the year ended 31.12.2020
Particulars
OMR
Interest earned
500,000
Other income
37,000
Interest expenses
340,000
Operating expenses
105,000
Rebate on bills discounted
1.1.2020
48,000
31.12.2020
52,000
Net profit
Transcribed Image Text:Calculate the net profit earned by ABC bank, from the data given below for the year ended 31.12.2020 Particulars OMR Interest earned 500,000 Other income 37,000 Interest expenses 340,000 Operating expenses 105,000 Rebate on bills discounted 1.1.2020 48,000 31.12.2020 52,000 Net profit
Net profit
OMR 69,000
OMR 84,000
OMR 96,000
OMR 88,000
Transcribed Image Text:Net profit OMR 69,000 OMR 84,000 OMR 96,000 OMR 88,000
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