Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 28 Not yet answered Marked out of 200 A life insurance company valuation of balance sheet is provided below: The life assurance fund on

image text in transcribed
image text in transcribed
image text in transcribed
Question 28 Not yet answered Marked out of 200 A life insurance company valuation of balance sheet is provided below: The life assurance fund on 31/2/2020 amounted to 6,384,000 before providing OMR 64,000 for the shareholders dividend for the year 2020. Its actuarial value due on 31/12/2020 disclosed a net liability of OMR 6,080,000 under assurance annuity contracts. An interim bonus of OMR80,000 was paid to the policy holders during the year 31/12/2020 Flag Question Calculate the surplus OMR 384,000 Calculate true profit : None of these OMR 320,000 OMR 304,000 Calculate true profit None of these OMR 448,000 OMR 304,000 Calculate the net con ven OMR 320,000 Particulars

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

ISE Business Accounting Volume 1

Authors: Frank Wood, Alan Sangster

8th Edition

0273638394, 9780273638391

More Books

Students also viewed these Accounting questions

Question

Have you been treated for any of the following medical conditions?

Answered: 1 week ago

Question

What did Tolman mean by intervening variable?

Answered: 1 week ago