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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 side OMR Investment 406,980Share capital 400,000 Freehold premises 14,428 306,412Claims admitted but not paid Leasehold 12,604Creditors 44,962 Agent's balance 46,212Due to reinsurers 6,614 Sundry debtors 17,918interest and dividend 19,512 4,513Other receipts 807 Income tax on interest and dividend Claims paid and outstanding 363,924Premium received 1,216.378 238,730 97,778 Expenses of management Commission Interest accrued 919 Office furniture 14,761 Preliminary expenses 90,212 Cash and bank balance 101,738 Total 1,702,701 Total 1,702,701

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 406,980Share capital 400,000 Freehold premises 14,428 306,412Claims admitted but not paid Leasehold 12,604Creditors 44,962 Agent's balance 46,212Due to reinsurers 6,614 Sundry debtors 17,918interest and dividend 19,512 4,513Other receipts 807 Income tax on interest and dividend Claims paid and outstanding 363,924Premium received 1,216.378 238,730 97,778 Expenses of management Commission Interest accrued 919 Office furniture 14,761 Preliminary expenses 90,212 Cash and bank balance 101,738 Total 1,702,701 Total 1,702,701

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 side OMR Investment 406,98dShare capital 400,000 Freehold premises 306,412Claims admitted but not paid 12,604Creditors 14,428 Leasehold 44,962 Agent's balance 46,212Due to reinsurers 6,614 Sundry debtors 17,918Interest and dividend 19,512 4,513Other receipts 807 Income tax on interest and dividend Claims paid and outstanding 363,924Premium received 1,216.378 Expenses of management 238,730 Commission 97,778 Interest accrued 919 Office furniture 14,761 Preliminary expenses 90,212 Cash and bank balance 101,738 Total 1,702,701Total 1,702,701
Transcribed Image Text: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 406,98dShare capital 400,000 Freehold premises 306,412Claims admitted but not paid 12,604Creditors 14,428 Leasehold 44,962 Agent's balance 46,212Due to reinsurers 6,614 Sundry debtors 17,918Interest and dividend 19,512 4,513Other receipts 807 Income tax on interest and dividend Claims paid and outstanding 363,924Premium received 1,216.378 Expenses of management 238,730 Commission 97,778 Interest accrued 919 Office furniture 14,761 Preliminary expenses 90,212 Cash and bank balance 101,738 Total 1,702,701Total 1,702,701
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