02 Jul Prepare a revenue account and balance sheet
Question Description
Prepare a revenue account and balance sheet
The following balances were extracted from the books of All Peoples Assurance Co. Ltd:
Life Assurance fund 1,470,562
Claims: by death 76,980
: by maturity 56,420
Premiums 210,572
Expenses of management 19,890
Commissions 26,541
Consideration for annuities granted 10,620
Interest, dividends, and rent 52,461
Income tax on these (paid) 3,060
Surrenders 21,860
Annuities 29,420
Bonus paid in cash 9,450
Bonus utilised in reduction of
Premium 2,500
Preliminary expenses 600
Claims admitted but unpaid at
Year end 80,034
Annuities payable 22,380
Paid up share capital 400,000
Government securities 1,490,890
Sundry assets 509,110
Fines for revising lapsed policies 92
Requirement: Take into account the following;
Claims covered under reinsurance – Sh10,000
Further claims intimated – Sh8,000
Further bonus utilised in reduction of premium – Sh1,500
Interest accrued – Sh15,400
Premiums outstanding – Sh7,400
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.