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Inter-Paper5-Revised (dragged) 9

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8 views

Inter-Paper5-Revised (dragged) 9

khjkjhkj

Uploaded by

algokar999
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Accounting of Insurance Companies

(ii)
`)
Surplus as per Balance Sheet (i.e., Valuation Balance Sheet) 12,00,000
Interim bonus paid 3,00,000
15,00,000
(iii)
`)
` 15,00,000) 14,25,000
Interim bonus already paid 3,00,000
Amount due to policyholders 11,25,000

Prudence Life Insurance Co. furnishes you the following information:


`)
Life Insurance fund on 31.3.2013 1,30,00,000
Net liability on 31.3.2013 as per actuarial valuation 1,00,00,000
Interim bonus paid to policyholders during intervaluation period 7,50,000
You are required to prepare :
(i) Valuation Balance Sheet;

(iii) Amount due to the policyholders.

(i)

`) `)
To, Net Liability as per actuarial valuation 100,00,000 By, Life Assurance Fund 130,00,000
To, Surplus 30,00,000
130,00,000 130,00,000

(ii)
`)
Surplus as per Balance Sheet (i.e., Valuation Balance Sheet) 30,00,000
Interim bonus paid 7,50,000
37,50,000

(iii)
`)
` 37,50,000) 35,62,500
Interim bonus already paid 7,50,000
Amount due to policyholders 28,12,500

12.68 I FINANCIAL ACCOUNTING

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