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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
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 400,000 Freehold premises 14,428 Leasehold 406,980 Share capital 306,412 Claims admitted but not paid 12,604 Creditors 46,212 Due to reinsurers 17,918Interest and dividend 4,513 Other receipts 44,962 6,614 19,512 807 363,924 Premium received 1,216,378 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 238,730 97,778 919 14,761 90,212 101,738 1,702,701 Total Total 1,702,701
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