Fire Insurance Claims
(A) Short Asnwer Problems :
8.27
Exercises
From the following calculate the amount of claim in respect of a fire occurred in a
business on 31-12-99 :
Rs.
Sales 1-4-99-31-12-99 C
12,00,000
Purchases 1-4-99 - 31-12-99 D
8,00,000
Stock on 31-3-99
2,00,000
Gross Profit - 25% on Sales. D
[Madras, B.Com, BBA etc. AP 2009
[Bharathiar, B.Com. April 200
Answers
Answer:
and Wages
image on Purchases
Carriage on Sales
Advertising
Interest
Buildings
Furniture
Machine and Tools
Legal Expenses
Capital
Sundry Debtors and Creditors
Life Insurance Premium (Self)
Cash at Bank
Cash in hand
Commission
Income-tax
Postage and Stamps
Apprentice Premium
Wife's Loan
50,000
15,000
20,000
500
75,000
15,000
12,000
800
25,000
10,000
20,000
1,350
150
4,400
10,000
3,00,500
3,00,500
Stock on hand on 31st March, 2018—15,000.
Ans. Gross Profit 53,680; Net Profit 49,150; B/S Total 1,47,000]
24. Prepare Trading Account, Profit & Loss Account and Balance Sheet from the following Trial
Balance for the year ending 31st December, 2017 :
Explanation:
and Wages
image on Purchases
Carriage on Sales
Advertising
Interest
Buildings
Furniture
Machine and Tools
Legal Expenses
Capital
Sundry Debtors and Creditors
Life Insurance Premium (Self)
Cash at Bank
Cash in hand
Commission
Income-tax
Postage and Stamps
Apprentice Premium
Wife's Loan
50,000
15,000
20,000
500
75,000
15,000
12,000
800
25,000
10,000
20,000
1,350
150
4,400
10,000
3,00,500
3,00,500
Stock on hand on 31st March, 2018—15,000.
Ans. Gross Profit 53,680; Net Profit 49,150; B/S Total 1,47,000]
24. Prepare Trading Account, Profit & Loss Account and Balance Sheet from the following Trial
Balance for the year ending 31st December, 2017 :