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PROBLEMS WITH COMPUTATION OF CORRECT LIFE ASSURANCE FUND

1. A Life Assurance Company prepared its revenue account for the year ended 31 st March
2014 and ascertained its Life Assurance Fund to be Rs. 28, 35,000. It was founded later
that the following had been omitted from the accounts:
(a) Interest Accrued on investments Rs.39, 000.
(b) Outstanding premiums Rs. 32,800.
(c) Bonus utilised in reduction of premium Rs. 6,750.
(d) Claims intimated but not admitted Rs.17, 400.
(e) Claims covered under reinsurance Rs. 6,500.
What is the true Life Assurance Fund?
(Rs. 28, 85,400)

The Life Assurance Fund of a Life Insurance Company on 31 st March 2006 showed a balance of
Rs.54,00,000. However, the following items were not taken into account while preparing the revenue
account for the year 2005-06. Ascertain the correct life Fund balance.
Rs.
Interest and dividends accrued on investments 20,000
Income tax deducted at source on the above 6,000
Reinsurance claims recoverable 7,000
Commission due on reinsurance premium paid (+) 10,000
Bonus in reduction of premiums 3,000
(Rs. 54,31,000)

2. The revenue account of a life insurance company shows the Life Assurance Fund on 31 st
March 2012 at Rs. 62,21,310, before taking into account the following:
Rs.
(a) Claims covered under reinsurance 12,000
(b) Bonus utilised in reduction of life insurance premiums 4,500
(c) Interest accrued on investments 8,260
(d) Outstanding premiums 5,420
(e) Claims intimated but not admitted 26,500
What is the Life Assurance Fund after taking into account the above omissions?
(Rs. 62,20,490)

3. A Life Insurance Company prepared its Revenue Account for the year ended 31 st March
2012 and ascertained its life assurance fund to be Rs. 22,34,400. It has found later that
the following had been omitted from the accounts:
Rs.
(a) Interest accrued on investments 32,000
Income tax liable to be deducted is estimated to be Rs.10,000
(b) Outstanding premiums 31,400
(c) Bonus in reduction of premiums 6,600
(d) Claims intimated but not admitted 15,200
(e) Claims covered under Reinsurance 5,300
What is the true life assurance fund?
(LAF Rs. 22,77,900)

4. The Life Assurance Fund of a Life Insurance Company on 31 st March 2012 showed a
balance of Rs. 87, 76,500. It was found later that the following were not taken into
account:
Rs.
Dividend from Investments 4,80,000
Income tax on the above 48,000
Bonus in reduction of premium 8,77,500
Claims covered under reinsurance 4,23,000
Claims intimated but not accepted by the company 7,62,000
Ascertain the correct balance of Fund.
(LAF Rs. 88,69,500)
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5. A Life Assurance Fund has been ascertained without adjusting the following. You are
required to calculate the correct Life Assurance Fund.
Rs.
Life Assurance Fund, as ascertained 56,70,000
Premiums outstanding 2,30,000
Claims outstanding 1,80,000
Claims covered under reinsurance 20,000
Claims of last year paid during this year 5,000
Bonus paid in cash 14,000
Bonus utilised in reduction of premium 16,000
Interest and Dividend accrued 7,500
Income tax thereon 800
(Rs. 57,37,700)

ADJUSTING JOURNAL ENTRIES

(1) For Claims intimated but not admitted
Claims A/c Dr. xxx
To Outstanding claims A/c xxx
(2) For bonus utilised in reduction of premium
Bonus in Reduction of premium A/c Dr. xxx
To Premium A/c xxx
(3) Interest accrued on investments
Accrued Interest A/c Dr. xxx
To Interest A/c xxx
(4) For Outstanding premiums
Outstanding premium A/c Dr. xxx
To Premium A/c xxx
(5) For claims covered under reinsurance
Reinsurance Claims A/c Dr. xxx
To Claims A/c xxx
(6) For Provision for taxation
Revenue A/c Dr. xxx
To Provision for Taxation A/c xxx
(7) For Writing back the outstanding claims
Outstanding Claims A/c Dr. xxx
To Claims A/c xxx
(8) For premium payable under reinsurance
Premium A/c Dr. xxx
To Outstanding premium A/c xxx
(9) For reinsurance recoveries due
Outstanding debtors A/c Dr. xxx
To Claims A/c xxx
(10) For Agents’ commission to be paid
Commission A/c Dr. xxx
To Outstanding Commission A/c xxx

Problems with adjusting Entries and Calculation of Adjusted Life Fund

1. While calculating the life fund, the following items are not considered:
(a) A claim of Rs.15,000 intimated and admitted but not paid during the year.
(b) Bonus utilised in reduction of Premium Rs.25,000
(c) Agents Commission to be paid Rs.12,000
Pass the necessary journal entries for the above omissions.

2. Give Journal entries for the following items which are ignored at the time of
calculating Life assurance fund:
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(a) A claim of Rs.10,000 outstanding in the books for 10 year and written back.
(b) Reinsurance recoveries Rs.35,000
(c) Interest on securities accrueRs.1,000but not received during the year.

3. The Revenue Account of a Life Insurance Company showed a balance of Rs.

4,75,000 at the end of 2011-12 before considering the following items:
Rs.
(a) Bonus in reduction of premiums 40,000
(b) Outstanding premiums 1,00,000
(c) Interest accrued on investments 20,000
(d) Claims intimated but not admitted 35,000
(e) Claims covered under reinsurance 3,000
Pass necessary adjustment entries.

4. The Revenue Account of a Life Insurance Company showed the life fund at Rs.
73,17,000 on 31st March 2010 before taking into account the following items:
Rs.
(1) Claims intimated but not admitted 98,250
(2) Bonus utilised in reduction of premium 13,500
(3) Interest accrued on investments 29,750
(4) Outstanding premiums 27,000
(5) Claims covered under reinsurance 40,500
(6) Provision for taxation 31,500
Pass journal entries giving effect to the above adjustments and show the adjusted life
fund.(LAF Rs. 72,84,500)

5. The Revenue Account of a Life Insurance Company shows the life fund at Rs.
48,78,000 on 31st March 2010 before taking into account the following items:
Rs.
(a) Claims intimated but not admitted 65,500
(b) Bonus utilised in reduction of premium 6,500
(c) Interest accrued on securities 19,500
(d) Outstanding premiums 18,000
(e) Claims covered under reinsurance 27,000
Pass journal entries giving effect to the above adjustments and show the adjusted life
fund after making the above adjustments.(LAF Rs. 48,77,000)

6. A Life Insurance Company disclosed a fund of Rs.25,00,000 on 31 st March 2014

before taking the following into consideration:
(i) A claim of Rs. 15,000 was intimated and admitted but not paid during the year.
(ii) A Claim of Rs.8,000 outstanding in the books for 8 years is written back.
(iii) Premium of Rs.1,000 is payable under reinsurance.
(iv)Reinsurance recoveries Rs. 30,000.
(v) Bonus utilised in reduction of premium Rs.8,000.
(vi)Agents Commission to be paid Rs. 6,000
Pass journal entries for the above and re-compute the Life Fund.(Rs. 25,16,000)

PROBLEMS WITH CALCULATION OF NET PREMIUM AND NET CLAIM

1. From the following particulars, calculate the premiums earned(Net) to be derived in
schedule 1 of a life insurance company:
Premiums less reinsurance Rs. 1,61,500
Accrued premium Rs.5,000
Bonus in reduction of premium(not yet adjusted) Rs.5,000(Rs. 1,71,500)
2. Compute net premium to be shown in the Revenue Account from the following data:
Premium received during the year ended 31st March 2012 Rs. 16,00,000
Reinsurance premium paid Rs. 5,40,000
Reinsurance premium received Rs.6,20,000
Bonus in reduction of premium (not yet adjusted) Rs. 20,000(Rs. 17,00,000)
3. Calculate the net claim to be shown in the Revenue Account of an insurance company:
Claims paid for the year ended 31-03-2010 Rs. 5,75,000
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Claims outstanding on 1.04.2009 Rs. 55,000

Claims outstanding on 31.03.2010 Rs. 98,000
Claims covered under reinsurance Rs. 28,000(Rs. 5,90,000)

4. From the following details relating to claims, you are required to calculate the net
claim to be shown in the Revenue Account for the year ending 31-3-2012
Rs.
Claims paid for the year ended 31.3.2012 4,50,000
Claims intimated but not accepted and paid on 31.3.2012 25,000
Claims intimated and accepted but not paid on 31.3.2012 35,000
Legal expenses regarding claims 15,000
Medical expenses regarding claims 5,000
Reinsurance recoveries 6,000
(Rs. 5,24,000)

Preparation of Valuation Balance Sheet, Statement showing the net profit for the
valuation period and statement showing the distribution of surplus
Valuation Balance Sheet as on ---------------
Rs. Rs.
To Net Liability as per actuarial By Life Assurance Fund as per
Valuation xxx the Balance Sheet xxx
To Surplus (B.F.) XXX
xxx xxx
Statement showing the bonus due to policy holders
Rs.
Surplus as per the Valuation Balance Sheet xxx
Add: Interim bonus distributed to policy holders xxx
Total Surplus xxx
Less: Dividend paid to shareholders xxx
Net Profit XXX
Policy holders will get 95% of XXX xxx
Less: Bonus already paid to the policy holders xxx
Amount due to the Policy holders xxx
1. A Life Insurance Company gets its valuation made once in every two years. Its
Life Assurance Fund on 31st March 2006 amounted to Rs. 63,84,000 before
providing Rs. 64,000 for the shareholders’ dividend for the year 2005-06. Its
actuarial valuation due on 31st March 2006 disclosed a net liability of Rs.
60,80,000 under assurance annuity contracts. An interim bonus of Rs. 80,000 was
paid to the policyholders during the two years ending 31st March 2006.
Prepare a statement showing the amount now available as bonus to policy holders.
Valuation Balance Sheet of a Life (Insurance Company as on 31.3.2006
Rs. Rs.
To Net Liability as per By Life Assurance Fund as
actuarial 60,80,000 per 63,84,000
Valuation 3,04,000 the Balance Sheet
To Surplus (B.F.)
63,84,000 63,84,000
Statement showing the bonus due to policy holders
Rs.
Surplus as per the Valuation Balance Sheet 3,04,000
Add: Interim bonus distributed to policy holders 80,000
3,84,000
Less: Dividend paid to shareholders 64,000
Net Profit 3,20,000
Policy holders will get (95% of 3,20,000) 3,04,000
Less: Bonus already paid to the policy holders 80,000
Amount due to the Policy holders 2,24,000

2. A Life Insurance Company gets its valuation made once in every three years. The
Life Assurance Fund on 31st March 2006 amounted to Rs. 41,92,000 before
providing for Rs. 32,000 for the shareholders’ dividend for the year 2004-05. It
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actuarial valuation on 31st March 2006 disclosed a net liability of Rs.40,40,000

under the assurance and annuity contracts. An interim bonus of Rs. 40,000 was
paid to the policy holders during the period ending 31st March 2006.
Prepare a statement showing the amount now available as bonus to policy holders.
(Surplus Rs. 1,52,000; Net Profit:Rs.1,60,000 & 95% of NP as Bonus to Policy
holders –40,000 = Amount now available as bonus Rs. 1,12,000)

3. Bharath Life Assurance Company gets its valuation made once in every two years.
Its life assurance fund on 31-3-2006 stood at Rs. 45,65,000 before providing for
Rs. 45,000 being the shareholders dividend for 2005-06. Its actuarial valuation on
31st March 2006 disclosed a net liability of Rs. 32,20,000. An interim bonus of
Rs.80,000 was paid to the policy holders during the previous two years.
Prepare a statement shoeing the amount now available as bonus to policy holders.
(Surplus Rs. 13,45,000; Net Profit:Rs.13,80,000 &(13,11,000) 95% of NP as
Bonus to Policy holders –80,000 = Amount now available as bonus Rs.
12,31,000)
Format of Revenue Account of a Life Insurance Company
__________Company
REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH -----
Particulars Schedule Current Year
Rs.
Premiums Earned – Net 1 xxx
(a) Premium xxx
(b) Reinsurance ceded (xxx)
(c) Reinsurance accepted xxx
Income from Investments
(a) Interest, Dividends & Rent – Gross xxx
(b) Profit on sale/ Redemption of Investments xxx
(c) Loss on sale/ Redemption of Investments (xxx)
(d) Gain on Revaluation xxx
Other Income xxx
Total (A) xxx
Commission 2 xxx
3 xxx
Operating Expenses xxx
Provision for doubtful debts xxx
Bad debts written off xxx
Provision for taxation xxx
Provisions (other than taxation) xxx
(a) For diminution in the value of Investments xxx
(b) Others
Total (B) xxx
Benefits Paid (Net) 4 xxx
Interim Bonuses paid xxx
Change in the value of liability in respect of policies
(a) Gross xxx
(b) Amount ceded in Reinsurance xxx
(c) Amount accepted in Reinsurance xxx
Total (C) xxx
Surplus/Deficit (D) = (A) – (B) – (C) xxx
Appropriations
Transferred to Shareholders’ Account xxx
Transfer to other Reserves xxx
Balance being funds for future Appropriations xxx
Total (D) xxx

Schedule 1 - Premium
No. Particulars Current Year
Rs.
1 First year Premiums xxx
2 Renewal Premiums xxx
3 Single Premiums xxx
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Total Premiums xxx

Schedule 2–Commission Expenses

Particulars Current Year
Rs.
Commission Paid
Direct - First year Premium xxx
- Renewal Premium xxx
- Single Premium xxx
Add: Commission on re-insurance Accepted xxx
Less: Commission on Reinsurance ceded (xxx)
Net Commission xxx

Schedule 3–Operating Expenses

No. Particulars Current Year
Rs.
1 Employees’ remuneration & Welfare benefits xxx
2 Travel, Conveyance and vehicle running expenses xxx
3 Training Expenses xxx
4 Rent, Rates and Taxes xxx
5 Repairs xxx
6 Printing & Stationery xxx
7 Communication expenses xxx
8 Legal and Professional charges xxx
9 Medical Fees xxx
10 Auditor’s and Expenses xxx
11 Advertisement and Publicity xxx
12 Interest and Bank Charges xxx
13 Others xxx
14 Depreciation xxx
Total xxx

Schedule 4–Benefits Paid (Net)

No. Particulars Current Year
Rs.
1. Insurance Claims
(a) Claims by Death xxx
(b) Claims by Maturity xxx
(c) Annuities/ Pension xxx
(d) Others xxx
2. (Amount Ceded in Reinsurance)
(a) Claims by Death (xxx)
(b) Claims by Maturity (xxx)
(c) Annuities/ Pension (xxx)
(d) Others (xxx)
3. Amount Accepted in Reinsurance
(a) Claims by Death xxx
(b) Claims by Maturity xxx
(c) Annuities/ Pension xxx
(d) Others xxx
Total xxx

PROBLEMS WITH PREPARATION OF REVENUE ACCOUNT

1. The following balances are abstracted from the books of New Bharat Life Insurance Company
Limited as on 31st March 2015
Rs. Rs.
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Life Assurance Fund (1-4-2014) 15,00,000 Premiums 4,96,000

Consideration for Annuities granted 15,000 Annuities 2,050
Claims paid during the year 64,900 Interest & Dividends 1,00,000
Fines for revival of policies 750 Reinsurance premium 20,750
Bonus in reduction of premiums 1,600 Medical Fees 2,400
Claims Outstanding (1-4-2014) 4,500 Surrenders 4,000
Management expenses 22,000 Commission 18,650
Income Tax on Dividends 8,500
Prepare Revenue Account after making the following adjustments:
(a) Outstanding Claims Rs. 14,000
(b) Outstanding Premiums Rs. 4,600
(c) Further bonus for premium Rs. 2,400
(d) Claim under re-insurance Rs. 8,000
(Surplus Rs. 4,78,500)

2. The following figures relate to Life Insurance Corporation for the year ended 31 st March 2015,
prepare the Revenue Account.
Rs. Rs.
Claims 39,000 Surrenders 9,000
Management expenses 14,000 Premiums received 1,51,000
Directors’ Fees 4,000 Life As. Fund (1-4-2014) 11,50,000
Audit Fees 3,000 Interest received 40,000
Medical Expenses 5,000 Rent Received 10,000
Agents’ Commission 5,000 Claims cancelled 500
Depreciation 4,000 Annuities 1,500
Bonus in reduction of premium 1,500
Consideration for Annuities granted 16,500

Adjustments:
(a) Outstanding Claims Rs. 3,000
(b) Outstanding Premiums Rs. 9,000
(Surplus Rs. 1,42,500)

3. From the following balances extracted from the books of a Life Insurance Company as at 31-03-
2013, prepare Revenue account for the year ending 31-03-2013 in the prescribed form:
Rs. Rs.
Claims by Death 3,30,000 Life Ass. Fund(1-4-12) 63,31,000
Claims by Maturity 2,15,000 Premiums 20,65,000
Agents and Canvassers Allowances 26,500 Bonus in reduction of premiums 10,000
Salaries 44,200 I.T. on Interest and Dividend5,700
Traveling expenses 1,200 Printing & stationery 13,900
Directors fees 8,700 Postage & Telegram 14,300
Auditors’ fees 1,000 Receipt stamps 2,300
Medical fees 52,000 Reinsurance premiums 40,950
Commission 2,18,000 Interest & Dividend (Gross) 2,72,000
Rent 2,800 Policy Renewal fees 9,600
Law charges 200 Assignment fees 540
Advertising 4,300 Endowment fees 690
Bank charges 1,500 Transfer fees 1,400
General charges 2,000 Surrenders 47,500

(Surplus Rs. 11,00,380)

ACCOUNTS OF GENERAL INSURANCE COMPANIES

Meaning of General Insurance
It refers to the insurance other than life insurance. General insurance companies may be doing
more than one business such as Fire Insurance, Marine Insurance, and Miscellaneous business.
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Revenue Account
The general insurance company is required to prepare a separate Revenue Account for each type
of business at the end of the year in the prescribed form.

Reserve for Unexpired Risk

It is peculiar to general insurance business. The policies are only for one year. Every general
insurance company is required to make a provision to meet claims which may arise under the
policies that may mature in the next year. Such a provision is known as “Reserve for Unexpired
Risk”.

Percentage of Reserve for Unexpired Risk

Business % of Premium
Earned
Fire Insurance 50%
Miscellaneous Insurance 50%
Marine Cargo Business 50%
Marine Hull Business 100%

Calculation of Premiums Earned (Net) to be shown in Schedule 1

Premiums on Direct Business xxx

Add: Premiums on Outstanding at the end xxx
Add: Premiums on re-insurance Accepted xxx
Less: Premiums on Re-insurance Ceded (xxx)
Less: Premiums on Outstanding at the Beginning (xxx)
xxx
Adjustment for changes in Reserve for Unexpired Risk:
Reserve for Unexpired Risk at the End xxx
Additional Reserve for Unexpired Risk at the End xxx
Less:
Reserve for Unexpired Risk at the End (xxx)
Additional Reserve for Unexpired Risk at the End (xxx)
Change in provisions for unexpired risk (+) or (-) xxx
Premiums Earned (Net) XXX

Problems with Calculation of Premiums Earned (Net)

1. With the information given below, you are required to calculate the premiums earned(Net) to be
shown in the Revenue Account for a marine insurance Company for the year ending 31 st March
2015:
Rs.
Premiums less Reinsurance 98,32,000
Provision for unexpired risk(1-4-2014) 54,00,000
Additional reserve (1-4-2014) 5,40,000
Make provision for unexpired risk at the end of the year at 100% of Net Premium. The
additional reserve is to be increased by 5% of the net premium.
(Premiums Earned Rs. 49,08,400)

Calculation of Claims Incurred (Net) to be shown in Schedule 2

Claims paid on Direct Business xxx

Add: Claims on Outstanding at the end xxx
Less: Claims on Outstanding at the Beginning (xxx)
Less: Claims Covered Under Re-insurance (xxx)
Add: Medical Expenses regarding claims xxx
Add: Legal Expenses for settlement of Claims xxx
Add: Surveyor’s fees for settlement of claims xxx
Claims Incurred (Net) XXX

Problem with Calculation of Claims Incurred (Net)

1. You are required to calculate the claims incurred(Net) by a fire insurance company to be
shown in Revenue Account for the year ending 31 st March 2015 with the help of the
following data:
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Rs.
Claims paid 6,58, 815
Claims Outstanding(1-4-2014) 1,04,000
Claims Outstanding(31-03-2015) 60,000
Medical Expenses relating to claims 6,000
Claims covered under re-insurance 10,000
(Claims incurred Rs. 6,10,815)

Format of Revenue Account of a General Insurance Company

Revenue Account for the year ended 31st March _________
Particulars Schedule Current
Year
Rs.
1. Premiums Earned(Net) 1 xxx
2. Profit /Loss on sale or redemption of investments xxx
3. Others xxx
4. Interest, Dividend and Rent (Gross) xxx
Total (A) xxx
1. Claims incurred(Net) 2 xxx
2. Commission 3 xxx
3. Operating Expenses 4 xxx
Total (B) xxx
Operating Profit/ Loss (C) = (A) – (B) XXX
Appropriations
Transferred to Shareholders’ Account xxx
Transfer to Catastrophe Reserve xxx
Transfer to other Reserves xxx
Total (C) XXX

Schedule 1: Premiums Earned (Net)

Premiums on Direct Business xxx

Add: Premiums on Outstanding at the end xxx
Add: Premiums on re-insurance Accepted xxx
Less: Premiums on Re-insurance Ceded (xxx)
Less: Premiums on Outstanding at the Beginning (xxx)
xxx
Adjustment for changes in Reserve for Unexpired Risk:
Reserve for Unexpired Risk at the End xxx
Additional Reserve for Unexpired Risk at the End xxx
Less:
Reserve for Unexpired Risk at the End (xxx)
Additional Reserve for Unexpired Risk at the End (xxx)
Change in provisions for unexpired risk (+) or (-) xxx
Premiums Earned (Net) XXX

Schedule 2: Claims Incurred(Net)

Claims paid on Direct Business xxx

Add: Claims on Outstanding at the end xxx
Add: Claims on reinsurance accepted xxx
Less: Claims on Reinsurance ceded (xxx)
Less: Claims on Outstanding at the Beginning (xxx)
Less: Claims Covered Under Re-insurance (xxx)
Add: Medical Expenses regarding claims xxx
Add: Legal Expenses for settlement of Claims xxx
Add: Surveyor’s fees for settlement of claims xxx
Claims Incurred (Net) XXX
Schedule 3: Commission

Commission paid;
Direct xxx
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Add: Commission on reinsurance accepted xxx

Less: Commission on Reinsurance ceded (xxx)
Net Commission XXX

Schedule 4–Operating Expenses

No. Particulars Current Year
Rs.
1 Employees’ remuneration & Welfare benefits xxx
2 Travel, Conveyance and vehicle running expenses xxx
3 Training Expenses xxx
4 Rent, Rates and Taxes xxx
5 Repairs xxx
6 Printing & Stationery xxx
7 Communication expenses xxx
8 Legal and Professional charges xxx
9 Medical Fees xxx
10 Auditor’s and Expenses xxx
11 Advertisement and Publicity xxx
12 Interest and Bank Charges xxx
13 Others xxx
14 Depreciation xxx
Total xxx

Problems with Preparation of Fire Revenue Account and Marine Revenue Account

1. From the following particulars, prepare the fire revenue account for 2015-16:
Rs.
Claims (Net) 10,20,000
Premiums Received 24,00,000
Re-insurance Premium 2,40,000
Commission 4,00,000
Expenses of Management 4,20,000
Provision for unexpired risk on 1-4-2015 13,00,000
(Operating Profit Rs. 5,40,000)

2. From the following particulars, prepare the fire revenue account for 2015-16:
Rs.
Claims paid 2,35,000
Legal expenses regarding claims 5,000
Premiums Received 6,00,000
Re-insurance Premium 60,000
Commission 1,00,000
Expenses of Management 1,50,000
Provision for unexpired risk on 1-4-2015 2,60,000
Claims Outstanding on 1-4-2015 20,000
Claims Outstanding on 31-3-2016 35,000
(Operating Profit Rs. 25,000)

3. Prepare Revenue Account of the Marine insurance company Limited for the year ended
31st March 2016 from the following particulars:
Rs. Rs.
Reserve for unexpired risk on 1-4-2015 4,96,600 Exp. of Management 54,000
Additional reserve on 1-4-2015 49,660 Audit fees 10,000
Premiums less Re-insurance 7,20,000 Directors sitting fees 3,400
Claims Outstanding on 1-4-2015 1,60,000 Depreciation 5,000
Claims paid 4,70,000 General charges 12,000
Commission 35,000
Outstanding claims due on 31st March 2016 was Rs.60,000. Additional reserve is to be
increased at 10% on Net Premiums.
(Operating Loss Rs. 15,140)