Question

-A fire occurred in the premises of a merchant on 18th September, 2015 and a considerable part of the stock was destroyed. The value of the stock saved was 8,200. The books disclosed that on 1st April, 2015 the stock was valued at 66,850, the purchases to the date of fire amounted to 1,85,000 and the sales to 2,82,500. Goods costing 500 were taken for personal use and goods sold for 2,500 were returned to the merchant. On investigation it is found that during the past five years the average gross profit on the cost was 25%. You are required to prepare a statement showing the amount the merchant should claim from the insurance company in respect of stock destroyed by fire. 2001​

Answer 1

Answer:

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Answer 2

Answer:

yes

Explanation:

A fire occurred in the premises of a merchant on 18th September, 2015 and a considerable part of the stock was destroyed. The value of the stock saved was 8,200.