Tutorial Question X: The balances on Festus's insurance account as at 31" of March, 2012 were a prepayment of N2500 and an accrual of N1000. During the year ended 31st of March, 2013 the following insurance premiums were paid: Policy N Period covered A 4600 o lavast 2700 1st January, 2012 -1st December, 2012 1st April, 2012-31st March, 2013 1st June, 2012-31st May, 2013. 2400 2200 1500 1st October, 2012 - 30th September, 2013 1st December, 2012- 30th November, 2013 1st January, 2013 - 31st December, 2013 1st January, 2013 - 31st December, 2013. 5000 G 1800 You are required to: a. Write up Festus's insurance account for the year ended 31st of March, 201 assuming that there are no insurances unpaid as at the year-end; and Do a calculation to show the statement of comprehensive income charge make up. b. BCDEF

Tutorial Question X: The balances on Festus's insurance account as at 31" of March, 2012 were a prepayment of N2500 and an accrual of N1000. During the year ended 31st of March, 2013 the following insurance premiums were paid: Policy N Period covered A 4600 o lavast 2700 1st January, 2012 -1st December, 2012 1st April, 2012-31st March, 2013 1st June, 2012-31st May, 2013. 2400 2200 1500 1st October, 2012 - 30th September, 2013 1st December, 2012- 30th November, 2013 1st January, 2013 - 31st December, 2013 1st January, 2013 - 31st December, 2013. 5000 G 1800 You are required to: a. Write up Festus's insurance account for the year ended 31st of March, 201 assuming that there are no insurances unpaid as at the year-end; and Do a calculation to show the statement of comprehensive income charge make up. b. BCDEF

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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