OMS The following Trial balance of Bayan Assurance company LLC as on 31/12/2020 Debit OMR Credit Balance Balance Claims by 270,000 Share capital 200,000 death Claims by 230,000Life assurance 3,238,200 maturity Fund 1.1.2020) Bonus in 45.500 Claims 25.000 reduction of outstanding premium |1.1.2020) Commission 12,500 Premium less 550,100 reinsurance Management 50,300 Outstanding 2.000 expenses commission Building 50,000 Policy renewal 1500 Yes 290.000 Investments 2.765,000 interest and dividends Mortgages in 550.000 Oman Loans on 215,000 company's policies Outstanding 20.000 premium Surrenders 8,300 Dividend 20,000 paid Cash at bank 34.000 Cash in hand 23.200 Agent's 13,000 balance TOTAL 4,306,800 TOTAL 4,306,800 You are required to prepare the company's revenue account for the tear ended 31/12/2020 and as balance sheet as on that after taking the following matters into consideration Particulars OMR Claims outstanding at the end of the 20,000 year Interest accrued but not received 9,500 Further bonus utilized in reduction 8.500 premium Claims covered under reassurance 12.000 OMS The following Trial balance of Bayan Assurance company LLC as on 31/12/2020 Debit OMR Credit Balance Balance Claims by 270,000 Share capital 200,000 death Claims by 230,000Life assurance 3,238,200 maturity Fund 1.1.2020) Bonus in 45.500 Claims 25.000 reduction of outstanding premium |1.1.2020) Commission 12,500 Premium less 550,100 reinsurance Management 50,300 Outstanding 2.000 expenses commission Building 50,000 Policy renewal 1500 Yes 290.000 Investments 2.765,000 interest and dividends Mortgages in 550.000 Oman Loans on 215,000 company's policies Outstanding 20.000 premium Surrenders 8,300 Dividend 20,000 paid Cash at bank 34.000 Cash in hand 23.200 Agent's 13,000 balance TOTAL 4,306,800 TOTAL 4,306,800 You are required to prepare the company's revenue account for the tear ended 31/12/2020 and as balance sheet as on that after taking the following matters into consideration Particulars OMR Claims outstanding at the end of the 20,000 year Interest accrued but not received 9,500 Further bonus utilized in reduction 8.500 premium Claims covered under reassurance 12.000