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From the following particulars, Calculate the amount of Claim to be debited to Revenue Account. Claims Paid during the year 35,00,000 Claims Outstanding at the beginning of the year 1,50,000 Reinsurance Claims 1,80,000 Expenses on Claims 50,000 Claims intimated and accepted but not paid at the end of the year 1,60,000 Claims intimated but not accepted at the end of the year 1,00,000
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From the following particulars, Calculate the amount of Claim to be d...
The amount of Claim to be debited to Revenue Account can be calculated as follows:

Total Claims = Claims Paid + Claims Outstanding at the beginning of the year + Reinsurance Claims + Expenses on Claims + Claims intimated and accepted but not paid at the end of the year

Total Claims = 35,00,000 + 1,50,000 + 1,80,000 + 50,000 + 1,60,000

Total Claims = 39,40,000

Amount of Claim to be debited to Revenue Account = Total Claims - Claims intimated but not accepted at the end of the year

Amount of Claim to be debited to Revenue Account = 39,40,000 - 1,00,000

Amount of Claim to be debited to Revenue Account = 38,40,000

Therefore, the amount of Claim to be debited to Revenue Account is 38,40,000.
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From the following particulars, Calculate the amount of Claim to be debited to Revenue Account. Claims Paid during the year 35,00,000 Claims Outstanding at the beginning of the year 1,50,000 Reinsurance Claims 1,80,000 Expenses on Claims 50,000 Claims intimated and accepted but not paid at the end of the year 1,60,000 Claims intimated but not accepted at the end of the year 1,00,000 Related: Concept of Goodwill - Valuation of Goodwill & Shares, Advanced Corporate Accounting?
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From the following particulars, Calculate the amount of Claim to be debited to Revenue Account. Claims Paid during the year 35,00,000 Claims Outstanding at the beginning of the year 1,50,000 Reinsurance Claims 1,80,000 Expenses on Claims 50,000 Claims intimated and accepted but not paid at the end of the year 1,60,000 Claims intimated but not accepted at the end of the year 1,00,000 Related: Concept of Goodwill - Valuation of Goodwill & Shares, Advanced Corporate Accounting? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following particulars, Calculate the amount of Claim to be debited to Revenue Account. Claims Paid during the year 35,00,000 Claims Outstanding at the beginning of the year 1,50,000 Reinsurance Claims 1,80,000 Expenses on Claims 50,000 Claims intimated and accepted but not paid at the end of the year 1,60,000 Claims intimated but not accepted at the end of the year 1,00,000 Related: Concept of Goodwill - Valuation of Goodwill & Shares, Advanced Corporate Accounting? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following particulars, Calculate the amount of Claim to be debited to Revenue Account. Claims Paid during the year 35,00,000 Claims Outstanding at the beginning of the year 1,50,000 Reinsurance Claims 1,80,000 Expenses on Claims 50,000 Claims intimated and accepted but not paid at the end of the year 1,60,000 Claims intimated but not accepted at the end of the year 1,00,000 Related: Concept of Goodwill - Valuation of Goodwill & Shares, Advanced Corporate Accounting?.
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