Question: urgent answer is required It is not additional information, it is resulting answer from the question and so i didnt post it Rs. 8,000 13,000

urgent answer is required
It is not additional information, it is resulting answer from the question and so i didnt post it
Rs. 8,000 13,000 36,000 63,000 2,10,000 2,40,000 additional reserve in absence of directions not given. (Basic Level-2): Following are the balances of United Insurance Co. Ltd as on 31-12-2004. Particulars Rs. Particulars Claims paid: Loss on sale of investment Fire 1,00,000 Audit Fee Marine 87,000 Directors remuneration Premium less reinsurance Int. & Dividends on investments received Res. for u/r on 1.1.2004 Fire 3,74,000 Fire Marine 2,97,000 Commission on reinsurance Additional reserve on 1.1.2004 ceded 60,000 Fire 13,000 10,000 Marine Claims o/s as on 1.1.2004 Commission paid: Fire 24,000 Fire Marine 11,000 Marine 54.000 Premium o/s as on 1.1.2004 Expenses of management: Fire 26,000 Fire 86,000 Marine 17,000 Marine 68,000 Depreciation on assets 36.000 Prepare Revenue A/C & P & L Adc for the year ended 31-12-2004 from the below information: a. Premium Ols as on 31-12-2004; Fire: Rs.33,000, Marine: Rs.15,000. Claims outstanding as on 31-12-2004: Fire Rs.46,000; Marine Rs.17,000; Out of the above a fire claim amounting to Rs. 11,000 was covered by reinsurance. b. Reserve for u/r to be maintained at 50% of premium less reinsurance for fire & 100% - marine. Additional Reserve for fire is to be maintained at 20% of net premium. c. Interest accrued on investments Rs.13,000. Pe 28 000: profit after tax: Rs. 1,49,300)
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