Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

From the following particulars of Zenith Insurance company prepare the revenue account and the balance sheet for the year ended 31/12/2019. Debit side OMR Credit

image text in transcribed
From the following particulars of Zenith Insurance company prepare the revenue account and the balance sheet for the year ended 31/12/2019. Debit side OMR Credit side OMR Investment Freehold premises 400,000 14,428 406,980 Share capital 306,412 Claims admitted but not paid 12,604 Creditors 46,212 Due to reinsurers 44,962 6,614 19,512 17,918interest and dividend 4,513Other receipts 807 1,216,378 Leasehold Agent's balance Sundry debtors Income tax on interest and dividend Claims paid and outstanding Expenses of management Commission Interest accrued Office furniture Preliminary expenses Cash and bank balance 363,924 Premium received 238,730 97,778 919 14,761 90,212 101,738 Total 1,702,701 Total 1,702,701

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How To Audit Document Control System Based On ISO 9001 2015

Authors: Folarin Omojoye

1st Edition

B09892NF88, 979-8525615175

More Books

Students also viewed these Accounting questions