Indian Insurance Co. Ltd. on 31.12.20X1 had reserve for unexpired risk of 20 crores in respect of fire insurance business. During 20X2, the premium collected in respect of policies issued 43.70 crores. Pass journal entry.
According to the requirements of the Insurance Act, it is sufficient if the provision is made for unexpired risks at 50 per cent for Fire, Marine Cargo and Miscellaneous business; 1.85 crore being the difference between closing provision of 21.85 crores [(43 + 5 – 4.3) * 50%] and opening provision of 20 crores charged to fire revenue account.
5 13 36 145 719 4321
362 284 393 451 144 221
...76, 82, 158, 240, 398, 638, ?
104 136 152 160 164 ?
...49 84 119 154 189 ?
9 49 251 ? 2999 5989
...22 44 176 1078 8448
...13, 26, 104, ?, 13312, 425984
69 119 156 ? 199 209
Direction: Which of the following will replace ‘?’ in the given question?
342, ‘?’, 420, 462, 506, 552, 60