Scribd
Upload
54 views1 page

Inter-Paper5-Revised (Dragged) 8

kjhk

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
54 views1 page

Inter-Paper5-Revised (Dragged) 8

kjhk

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
You are on page 1/ 1

Distribution Statement for the year ended 31st

the above transactions with narrations:


`
Balance of Life Assurance Fund as on 1.4.2013 167.15
Interim bonus paid in the valuation period 25.00
Balance of Revenue Amount for the year ended 31.3.2014 240.00
165.00
The company declares a revisionary bonus of `185 per `1,000 and gave the policyholders an option
to take bonus in cash `105 per `1,000. Total business conducted by the company was `600 lakhs. The

`) `)
Net Liabilities as per Life Insurance Fund 2,40,00,000
Actuarial Valuation 1,65,00,000
75,00,000
2,40,00,000 2,40,00,000

`
75,00,000
Add: Interim Bonus Paid 25,00,000
1,00,00,000

`1,00,00,000 95,00,000
Less: Interim Bonus paid 25,00,000
70,00,000

`1,00,00,000 5,00,000

L.F.
` `
Life Assurance Fund A/c Dr. 75,00,000
75,00,000

as per Valuation Balance Sheet)


37,80,000
To, Bonus (in cash) Payable A/c 37,80,000
(Bonus paid in cash)
44,40,000
To, Life Assurance Fund A/c 44,40,000
(Revisionary Bonus payable transferred
to Life assurance Fund)

FINANCIAL ACCOUNTING I 12.69

You might also like