Question

6. On 15th September, 2017, a serious fire accident occurred in the business house of
Saha & Co., a trading concern, and all stocks excepting goods worth * 6,375 were
destroyed. These goods could luckily be saved. The following particulars are supplied to
you:
새
4
Stock on 1st January, 2016
36,000
Purchases less returns during 2016
1,40,000
Sales less returns during 2016
2,00,000
Stock on 31st December 2016
22,500
Purchases less returns during 2017(upto the date of fire)
1,46,000
Sales less returns during 2017 (upto the date of fire)
1,60,000
It was the practice of Saha & Co. to value its stock at cost less 10%.
You are to ascertain the claim to be put forward to the Insurance Company in connection
with the loss of stock suffered by the said firm.
[Ans. : Value of stock held on the date of fire 47,000; Amount of claim * 40,625.
Rate of Gross Profit 22.5%.)
100
[Hints : (i) Value of opening stock = * 36,000 X = 40,000.
90
100
(ii) Value of closing stock = 22,500 X = 25,000]
90
[2006]​

Answer 1

Answer:

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