a) Muscat Insurance trial balance shows the following information regarding the claims. You are required to find out the amount of claim during the year and the journal entries regarding to it. ( 7 marks)

Claims paid during the year OMR 25,000

Claims outstanding at the beginning OMR 5,000

Claims outstanding at the end OMR 12,000

Reinsurance claim OMR 7,000

Expenses on claim OMR 2,500

Claim intimated and accepted but not paid at the end of the year OMR 22,000

Claim intimated but not accepted at the end of the year OMR 5,000.

(b) From the information given below, calculate the amount of provision for tax to be created by the bank. ( 3 marks)

Particulars	OMR
Interest earned	1,564,000
Other income	16,400
Interest expended	770,000
Operating expenses	164,000
Bad debts	80,000
Provision for tax	55%