Question

The following figures relates to life insurance corporation for the year ended 31.3.2018. Prepare the Revenue Account, Rs. Calims 39,000 Management expenses 14,000 Directors fees 4,000 Audit fees 3,000 Medical expenses 500 Agents commission 5,000 Depreciation 4,000 Bonus in reduction of premium 1,500 Consideration for Annuities granted 16,500 Surrenders 9.000 Premium 1,51,000 Interest received 40,000 Rent received 10,000 Claims cancelled 500 Annuties 1,500 Note: (a) (b) Premium outstanding Rs.9,000 Claims outstanding Rs 3,000​

Answer 1

A is the answer

Explanation:Premium outstanding Re.9,000