Proforma of Profit & Loss a/c along with the schedules like Interest earned,other Income,Interest expended,Operating expenses, Provisions & Contingencies ,Appropriations
1. Bank Accounts – Introduction &
Proforma of Profit & Loss A/c
BY
Dr. C. SAFFINA,
ASSISTANT PROFESSOR OF COMMERCE (CA)
BON SECOURS COLLEGE FOR WOMEN,
THANJAVUR.
2. Proforma of Bank Accounts
Particulars Schedule No Year ended on
31.03….(current
year)
Year ended on
31.03….(Previou
s year)
I. Income :
Interest earned 13 XXXX
other Income 14 XXXX
Total
Form ‘B’
Third Schedule
Form of Profit and Loss Account
Profit & Loss account for the year ended 31st March …
3. Particulars Schedule
No
Year ended on
31.03….(current
year)
Year ended on
31.03….(Previous
year)
II. Expenditure
Interest expended 15 XXXX
Operating expenses 16 XXXX
Provisions & Contingencies
Total
III. Profit/Loss :
Net profit/Loss(-) for the year(I-II) XXXX
Profit /loss (-)brought forward XXXX
Total
IV. Appropriations :
Transfer to statutory reserves XXXX
Transfer to other reserves XXXX
Transfer to Government/proposed
dividend
XXXX
Balance carried over to balance sheet XXXX
Total
4. Schedules to be annexed with Profit &
loss Account
Schedule 13 : Interest earned
Year ended on
31.03….(current year)
Year ended on
31.03….(Previous year)
I. Interest/Discount on
Advance /Bills
XXXX
2.Income on Investments XXXX
3. Interest on balance with
RBI and other inter-bank
funds
XXXX
4. others XXXX
Total
5. Schedule 14 : Other Income
Year ended
on
31.03….(curre
nt year)
Year ended on
31.03….(Previous
year)
I. Commission exchange and Brokerage XXXX
2. Profit on sale of Investments XXXX
less : Loss on sale of Investments XXXX XXXX
3. Profit on revaluation of Investments XXXX
less : Loss on sale of Investments XXXX XXXX
4. Profit on sale of Land/ Building & other
assets XXXX
less : loss on sale of Land/ Building & other
assets XXXX XXXX
6. Conti….Schedule 14
Year ended
on
31.03….(curre
nt year)
Year ended on
31.03….(Previous
year)
5. Profit on exchange transactions XXXX
less : Loss on exchange transactions XXXX XXXX
6. Income earned by way of dividends etc.from
subsidiaries/companies and or joint venture
abroad/ in India XXXX
7. Miscellaneous Income XXXX
Total XXXX
7. Schedule 15 : Interest expended
Year ended on
31.03….(curre
nt year)
Year ended on
31.03….(Previous year)
1. Interest on Deposits XXXX
2. Interest on RBI/Inter bank
borrowings
XXXX
3. Others XXXX
Total XXXX
8. Schedule 16 : Operating expenses
Year ended on
31.03….(current
year)
Year ended on
31.03….(Previous
year)
1.Payments to and provisions for employees XXXX
2.Rent,taxes and lighting XXXX
3. Printing XXXX
4. Advertisement & Publicity XXXX
5. Depreciation on bank’s property XXXX
6. Director’s fees, allowances & expenses XXXX
7. Auditor’s fees, allowances & expenses XXXX
8. Law charges XXXX
9. Conti….
Schedule 16 : Operating expenses
Year ended on
31.03….(current
year)
Year ended on
31.03….(Previous
year)
9. Postage,telegrams,telephones,etc XXXX
10. Repairs & Maintenance XXXX
11. Insurance XXXX
12. Other expenditure XXXX
Total
10. Problem No :1
From the following details prepare Profit & loss
a/c
Interest on loans 260
Interest on fixed deposits 280
Rebate on bills discounted 50
Commission charged to customers 9
Establishment expenses 56
Discount on bills discounted 200
Interest on current accounts 45
Printing and advertisements 3
Interest on cash credits 225
Rent and taxes 20
Interest on overdraftts 56
Directors and Auditor’s
fees 4
Interest on savings bank accounts 70
Postage and telegrams 2
Sundry Charges 2
11. Solution 1 :
Form ‘B’
Third Schedule
Form of Profit and Loss Account
Profit & Loss account for the year ended 31st March …
Particulars Schedule No Year ended on
31.03….(current
year)
Year ended
on 31.03….
(Previous
year)
I. Income :
Interest earned 13 741
other Income 14 9
Total 750
12. Particulars Schedule No Year ended on
31.03….(current
year)
Year ended on
31.03….(Previous
year)
II. Expenditure
Interest expended 15 395
Operating expenses 16 87
Provisions & Contingencies -
Total 482
III. Profit/Loss :
Net profit/Loss(-) for the year(I-II) 268
Profit /loss (-)brought forward -
Total 268
IV. Appropriations :
Transfer to statutory reserves (25% of 268) 67
Transfer to other reserves -
Transfer to Government/proposed dividend -
Balance carried over to balance sheet 201
Total 268
13. Important Notes :
• Calculation of Schedule 13 -16
• Transfer to statutory reserve is 25 % of Net
profit.
14. Schedules to be annexed with Profit & loss
Account
Schedule 13 : Interest earned
Year ended on
31.03….(current year)
Year ended on
31.03….(Previous year)
I. Interest on loans 260
2. Interest on cash credit 200
3. Interest on over draft 225
4. Discount on bills discounted 56
Total 741
15. Schedule 14 : Other Income
Year ended on
31.03….(curre
nt year)
Year ended on
31.03….(Previous
year)
I. Commission,exchange and Brokerage XXXX 9
2. Profit on sale of Investments XXXX
less : Loss on sale of Investments XXXX -
3. Profit on revaluation of Investments XXXX
less : Loss on sale of Investments XXXX -
4. Profit on sale of Land/ Building & other assets
XXXX
less : loss on sale of Land/ Building & other
assets XXXX -
16. Conti….Schedule 14
Year ended
on 31.03….
(current
year)
Year ended on
31.03….(Previous
year)
5. Profit on exchange transactions XXXX
less : Loss on exchange transactions XXXX -
6. Income earned by way of dividends etc.from
subsidiaries/companies and or joint venture
abroad/ in India -
7. Miscellaneous Income -
Total 9
17. Schedule 15 : Interest expended
Year ended on
31.03….(curre
nt year)
Year ended on
31.03….(Previous year)
1. Interest on fixed Deposits 280
2. Interest on current accounts 45
3. Interest on savings bank accounts 70
Total 395
18. Schedule 16 : Operating expenses
Year ended on
31.03….(curren
t year)
Year ended on
31.03….(Previous
year)
1. Establishment expenses 56
2.Printing & advertisements 3
3. Rent and taxes 20
4. Director’s & Auditor fees 4
5. Postage & telegram 2
6. Sundry charges 2
Total 87
