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Following is the trial balances of Vision Insurance LLc: Particulars Debit Credit Premiums less re- insurance 400,000 Claims less re-insurance 200,000 Share Capital 400,000 Salaries
Following is the trial balances of Vision Insurance LLc: Particulars Debit Credit Premiums less re- insurance 400,000 Claims less re-insurance 200,000 Share Capital 400,000 Salaries to employees 50,000 Bonus to policy holders 75,000 Audit fees 10,000 Repairs and Rent 15,000 Depreciation 8,000 Commission income 60,000 Furniture 40,000 Agents balances 60,000 Investments 300,000 Premises 90,000 Loan to other insurance companies 12,000 Total 860,000 860,000 Calculate (i) Profit/Loss from the Income statement Calculate (ii) Total of assets in the Balance sheet
Following is the trial balances of Vision Insurance LLc:
Particulars
Debit
Credit
Premiums less re- insurance
400,000
Claims less re-insurance
200,000
Share Capital
400,000
Salaries to employees
50,000
Bonus to policy holders
75,000
Audit fees
10,000
Repairs and Rent
15,000
Depreciation
8,000
Commission income
60,000
Furniture
40,000
Agents balances
60,000
Investments
300,000
Premises
90,000
Loan to other insurance companies
12,000
Total
860,000
860,000
Calculate (i) Profit/Loss from the Income statement
Calculate (ii) Total of assets in the Balance sheet
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Authors: Dairon Rojas Hernández
1st Edition
620351974X, 978-6203519747
