Prepare a classified balance sheet for Quick Profit Insurance using the balances below (all balances are in JDs).

Paid in capital	???	Allowance for doubtful debts	500 000
Unearned premium reserve reserves	19 421 000	Financial assets at fair value through profit or loss	267 000
Accounts payable	2 891 000	Reinsurance payable	11 200 000
Paid claims	56 460 000	Intangible assets	72 000
Unallocated employees expenses	1 000 000	Net change in claims reserve	1 680 000
Impairment of financial assets	300 000	Other provisions	667 000
Statutory reserves	2 790 000	Outstanding claims reserve	9 717 000
Cheques under collection	5 280 000	Financial assets at amortized costs	1 370 000
Interest income	1 100 000	Insurance policies issuance fees	5 055 000
Bank deposits	24 369 000	Written premiums	77 585 000
Retained earnings	4 069 000	Accrued expenses	150 000
Deferred income tax (debit balance)	1 300 000	Accounts receivable	26 300 000
Commission income	7 200 000	Recoveries	2 900 000

Answer rating: 100% (QA)

QUICK PROFIT INSURANCE SHEET AS AL 1d JANDARY 202 BALANCE LIABILITIES Guient Liebilities Accu... View the full answer