Question

The premises of a merchant caught fire on 1.10.92 and his stock was damaged. The
stock was fully insured. The merchant had made up his accounts to 31st December
Purchases from 1.1.92 to the date of fire

Stock on 31.12.91
Stock on 31.12.90
he
ре
Rs.
26,544
19.228
70.000
90,516
1,04,000
1,00,000
Purchases upto 31.12.91
Sales upto 31.12.91
Sales from 1.1.92 to the date of fire
Additional information:-
1)
2)
In May 1992 goods costing Rs. 5,000 were given as free samples for
advertising purpose. No entry was made in the books.
During 1992, a clerk had misappropriated unrecorded cash sales
Rs. 2,000.
The rate of gross profit is constant.
The stock salvaged was Rs. 1,500
From the above information calculate the amount of claim.
(Ans. G/P Ratio = 20%, Claim - Rs.8,444]

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Answer 1

answer this question for

Answer 2

Answer:

G/P ratio and claim

Explanation:

gRoss profit