Question 2 Not yet answered Marked out of 10.0 Flag question B2 (a) The trial balance of bank Nizwa as on 31/12/18 showed the following balances Particulars OMR 4,540,600 Interest and discount, Rebate on bills discounted (1/1/2018) 4,750 Bills discounted and 337,400 purchased Unexpired discount is OMR 1,500 Draft necessary adjusting entries, and ledger. Calculate the amount of interest and discount to be credited to profit and loss account and show how this item will appear in the balance sheet and in the final accounts of the Draft necessary adjusting entries, and ledger. Calculate the amount of interest and discount to be credited to profit and loss account and show how this item will appear in the balance sheet and in the final accounts of the bank. (7 marks) (b) Oman United Insurance Corporation provides you with some of the data related to its life insurance policies: Premium received during the year = OMR 49,000 Reinsurance premium paid = 15% of the total premium received this year Bonus in reduction of premium = 1% of the total premium received this year Outstanding premium at the start = OMR 8,750 Premium received in advance at the end = OMR 1,895 Required: You have been asked to IV) Ullal UniLEU insulance Corporation provides you with some of the data related to its life insurance policies: Premium received during the year = OMR 49,000 Reinsurance premium paid = 15% of the total premium received this year Bonus in reduction of premium = 1% of the total premium received this year Outstanding premium at the start = OMR 8,750 Premium received in advance at the end = OMR 1,895 Required: You have been asked to calculate the amount of premium to be credited to revenue account this year