(a)According to the Al ahlia insurance LLC the details of premium for the year ended 31/12/2018 as given below. Calculate the amount of premium to be entered in the revenue account and give the respective journal entries also.

Particulars	OMR
Premium received during the year	1,133,000
Outstanding premium on 1/1/18	87,000
Outstanding premium on 31/12/18	109,000
Premium received in advance 1/1/18	28,000
Premium received in advance 31/12/18	22,000
Re-insurance premium paid for 2018	160,000
Bonus in reduction of premium	7,000

(b) Prepare the profit and loss account of Amjaad bank for the year ended 31/12/2017 from the following information.

Particulars	OMR
Interest on loans	259,000
Interest on cash credits	195,000
Interest on Fixed deposits	275,000
Interest on current accounts	42,000
Interest on government securities	54,000
Interest on inter-bank borrowings	68,000
Discount on bills discounted	195,000
Commission and exchange	8,000
Miscellaneous receipts	7,000
Rebate on bills discounted (1/1/2017)	49,000
Establishment expenses	54,000
Rent and taxes	18,000
Directors and auditors fees	6,000
Postage and telegrams	4,000
Printing and advertisement	3,000
General expenses	2,000
Bad debts	12,000
Profit and loss account (cr) (1/1/2017)	30,000
Insurance	8,000
Salaries	32,000
Contribution to provident fund	20,000

Provide OMR 8,000 for depreciation, OMR 20,000 for bad debts reserve and OMR 15,000 for taxation. An interim dividend of OMR 12,000 was paid. Rebate on bills discounted at the year end was OMR 10,000.