4:067 ..4GD X Banking and Insuracne assignment 2 Question 1: Following is Trail Balance of Long life Assurance Company as on 31" March 2019 Debit RO Credit Am is 3000 Life Fund Income tax paid 2500 Outstanding the 1000 25,000 17,000 By death By maturity Property Furniture and Consider Refees Imeres dividends Gema TV 4.000 15.00 Star Canh thank China Expenses 40000 1200 Lanson policies 580,000 Prepare Revenue Account and Balance Sheet after taking into account the following: (a) Claims less reinsurance outstanding at the end of year are 5,000 by death and RO 3,000 by maturity (b) Depreciation to be provided RO 1,000 on property and RO 160 on Furniture and equipment (c) Outstanding tax payable RO 2,000 (d) Expenses RO 3,000 are prepaid and annuities outstanding is RO 1.000 (e) Premiums outstanding RO 25,000 (1) Accrued interest, dividend and rent are RO 2500 4:067 ..4GD X Banking and Insuracne assignment 2 Question 1: Following is Trail Balance of Long life Assurance Company as on 31" March 2019 Debit RO Credit Am is 3000 Life Fund Income tax paid 2500 Outstanding the 1000 25,000 17,000 By death By maturity Property Furniture and Consider Refees Imeres dividends Gema TV 4.000 15.00 Star Canh thank China Expenses 40000 1200 Lanson policies 580,000 Prepare Revenue Account and Balance Sheet after taking into account the following: (a) Claims less reinsurance outstanding at the end of year are 5,000 by death and RO 3,000 by maturity (b) Depreciation to be provided RO 1,000 on property and RO 160 on Furniture and equipment (c) Outstanding tax payable RO 2,000 (d) Expenses RO 3,000 are prepaid and annuities outstanding is RO 1.000 (e) Premiums outstanding RO 25,000 (1) Accrued interest, dividend and rent are RO 2500