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  3. the following data is obtained from the books of b

The following data is obtained from the books of Blue Insurance Company related to Premiums....

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Question

Accounting

The following data is obtained from the books of Blue Insurance Company related to Premiums. All amounts are given in rupees. (20)

Class

Reinsurance

ceded

Premiums

written

Prepaid reinsurance

premium ceded

Opening Closing

Unearned premium

reserve

Opening Closing

Fire and property damage

38,407,579

49,132,652

23,831,702

18,474,924

28,918,784

23,091,158

Marine, aviation and transport

22,684,549

32,881,187

2,663,085

3,502,943

3,171,563

4,389,644

Motor

3,184,309

144,749,425

1,131,356

1,514,851

54,060,186

62,584,901

Accident and health

43,208,903

71,879,782

22,679,234

21,238,115

31,388,267

34,664,017

Miscellaneous

18,921,380

33,318,657

27,577,551

9,652,523

29,993,506

14,872,970

You are required to prepare the statement of Premium for the year ended on December 31, 2021.

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