Accounts of Insurance Companies | Accounting

Here is a compilation of top five accounting problems on accounts of insurance companies with its relevant solutions. 

Problem 1:  

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From the following data relating to claims of an insurance company calculate amount of claims to be debited to Revenue Account for the year ended 31st March 2006:

Problem 2:

From the following particulars of the Life Insurance Company for the year ended 31.3.2006, you are required to prepare valuation Balance Sheet as on 31.3.2006 and Distribution Statement as on that date:

Problem 3:  

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The following balances relate to New India Life Assurance Company Ltd. as on 31st March, 2006:

Problem 4:  

The following trial balance was extracted from the books of the New India Life Assurance Company Ltd. as on 31-03-2005:

 

 

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Problem 5 (Fire Revenue A/c):

Prepare a Revenue Account in respect of Fire Business from the following details for the year 2005-2006:

 

 

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