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Preparing the revenue account from the transactions

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Question - Preparing the revenue account from the following transactions. The financial year ended on 31st March 2017.

Claims paid 235,000

Legal expenses regarding claims 5,000

Premiums received 600,000

Reinsurance premiums paid 60,000

Commissions 100,000

Expenses of management 150,000

Provision against unexpired risk (1 April 2016) 260,000

Claims unpaid (1 April 2016) 20,000

Claims unpaid (31 March 2017) 35,000

Reference no: EM132545809

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