Question

43, US
Illustration : 17
Radha Co. Ltd., which operates a wholesale warehouse, had a fire on premises on 30th April, 200
which destroyed most of the building, although stock to the value of 3,960 was salvaged. The compan
has an insurance policy (with suitable average clauses) covering stock, for * 6,00,000, Building fi
18,00,0000, and loss of profits including standing charges for 2 2,50,000 with a six months period
indemnity.
The company's last Profit & Loss Account, for the year ended 31" March, 2001, showed the followin
position :
To Opening Stock
To Purchases
To insured Standing Charges
To Other Expenses
To Net Profit for the Year
4,12,500
By Sales
18,12,500 || By Stock
1,67,500
By Interest
80,000
57,500
25,30,000
₹
20,00,000
5,25,000
5,000
25,30,000
The company's records show that the sales for April, 2001 had been the same as for the
month in the previous year at 1,00,000, payments made to trade creditors in April were 1.06.680 and al
the end of that month the balance owing to trade creditors had increased by 3.320. The company's business
period in the previous year. It was agreed that three-quarters of the value of the building had been lost and
that at the time of the fire it had been worth 10,00,000.
Ascertain the amount of various claims to be lodged with insurers.​

Answer 1

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Answer 2

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