Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
XYZ Company has the following financial data: Particulars Amounts (SAR) Total Profit for the Year 377,500 General Takaful Assets (Year 2014) 1,390,000 General Takaful Assets
XYZ Company has the following financial data:
Particulars | Amounts (SAR) |
Total Profit for the Year | 377,500 |
General Takaful Assets (Year 2014) | 1,390,000 |
General Takaful Assets (Year 2015) | 1,517,500 |
Cash | 11,500 |
Short-term Investment | 23,500 |
Short term liabilities | 85,000 |
Underwriting Surplus Distributable to Participants/Participants' Share of Profit | 145,500 |
Gross Contribution | 958,000 |
Net Contribution | 662,500 |
Wakalah Fee | 77,500 |
Commission Paid | 28,300 |
Management Expense | 58,000 |
Net Claim Incurred | 287,500 |
Earned Contribution | 632,500 |
You are required to calculate:
- Return on Assets
- Quick Liquidity
- Surplus Distribution Ratio
- Expense Ratio
- Claims Ratio
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started