Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Methodology For Auditing Forest Ecosystem Services In Agroforestry Enterprises Pinar Del Rio Cuba
Authors: Dairon Rojas Hernández
1st Edition
620351974X, 978-6203519747
