Question

The Revenue account of Life insurance Company showed the life

fund at Rs 73,17,000 on 3l-12-2017 before taking in account the

following items.

SI No Particulars Rs.

(a) Claims intimated but not admitted 98,250

(b) Bonus Utilized in Reduction of premium 13,500

(c) Interest accrued on Investment 29,750

(d) Outstanding Premiums 27,000

(e) Claims Covered under reinsurance 40,500

(f) Provisions for taxations 31,500

Pass journal entries giving effect to the above adjustments and

so the adjusted life fund.​

Answer 1

Answer:

(e) answer is correct

Explanation:

that is why the question says that taking amount

Answer 2

Explanation:

(a) The Revenue account of a Life Insurance

Company showed the life fund at

Rs. 15. 73,17,000 on 31.3.2006 before taking

into account the following items:

Rs.

(i) Claims intimated but not

admitted 98,250

(ii) Bonus utilized in reduction of

premium 13,500

(iii) Interest accrued on

investment 29,750

(iv) Outstanding premiums 27,000

(v) Claims covered under

re insurance 40,500

(vi) Provision for taxation 31,500

Show the adjusted life fund.