Question

Among a businessman got his godown insured against fire for 1 lakh one day fire took place and goods of the value of Rs 80000 were destroyed Among put up the claim to the insurance company for Rs 1 lakh insurance company did not accept the claim for Rs 1 lakh but accepted for Rs 80000 under which principle of insurance company took the decision

Answer 1

Answer:

15 Accounting Problems on Insurance Claims

Insurance Claims: Problem and Solution # 1.

A fire occurred on 15th December, 2011 in the premises of D Co. Ltd. From the following figures, calculate the amount of claim to be lodged with the insurance company for loss of stock:

Insurance Claims: Problem and Solution # 2.

The premises of X Ltd. caught fire on 22nd January, 2012 and the stock was damaged. The firm made up accounts to 31 March each year and on 31st March, 2010 the stock at cost was Rs 13,27,200 as against Rs 9,62,200 on 31st March. 2010......