Question

. A fire occurred in the premises of Mr. Dheenadayalan on 15th August 2019. A large part of the Stock

was destroyed and Rs. 7,500 was realized for the salvage. For the period from 1st January 2019 to 15th

August 2019, the following information is available:

 Purchases amounted to Rs. 42,500

 Sales Rs. 45,000

 Stock in hand on 1st January 2019 was Rs. 20,000 at cost price

 Goods costing Rs. 2,500 were taken by Dheenadayalan for his personal use

The previous accounts reveal that the rate of Gross profit was 331/3% on sale. The insurance policy

was for Rs. 25,000 and included an average clause.

Prepare the Statement of Claim to be made on the insurance company.​

Answer 1

Explanation:

A fire occurred in the premises of Mr. Dheenadayalan on 15th August

1995. A large part of the stock was destroyed and Rs. 7,500 was

realized for the salvage. For the period from 1stJanusry 1995 to 15th

August 1995, the following information is available:

i) Purchase amounted to Rs.42,500

ii) Sales amounted to 45,000

iii) Stock on hand on 1st January 1995 was 20,000 at cost price.

iv) Goods costing 2,500 were taken by Dheenadayalan for his

personal use.

The previous accounts reveal that the rate of gross profit was

33 1/3 % on sale. The insurance policy was for 25,000 and included

an average clause.

Prepare the statement of claim to be made on the insurance company?