Question

13. A fire occurred in the premises of a company on 1.7.2006. From the following information, calculate
the claim to be made against the insurance Company :
Rs.
Stock on 1.1.2005
63,000
Purchases for the year ending 31.12.05
4,00,000
Sales for the year ending 31.12.05
5,00,000
Wages for the year ended 31.12.05
20,000
Salary for the year ending 31.12.2005
10,000
Stock-in-trade on 31.12.2005
81,000
Purchases from 1.1.2006 to the date of fire
2,00,000
Sales from 1.1.2006 to the date of fire
3,00,000
Stock salvaged
10,000
Value of the policy
30,000
There is an average clause in policy. It is the practice of the company to value the stock at 10% less
than the cost.
000
10000​

Answer 1

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