Question

The following balances are extracted from the books of a life insurance business as, 2. on 31st March 2006: Rs. ('000) 8. Life assurance fund as on 1.4.05 5,06.000 Premiums 90,000 ICE Reinsurance premium paid • 2,075 1.ET Fines for revival of policies 15 Consideration for annuities granted 1,500 38 Management expenses 21,000 Income tax 850 02.0 Commission 18,650 Claims 40,000 Interest, dividend etc. 20,000 100 Surrenders 3,250 Medical fees 1,505 Annuities 1,955 bob Bonus in cash Prepare the Revenue A/c for the year 2005-06 after making the following adiustments: ​

Answer 1

Answer:

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