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14 Ascertain the claim for loss of profit from the following particulars:Turnover for financial year ended 31.03.2014 Rs. 2,00,000 Indemnity period 6 monthsPeriod of interruption 1.10.2014 to 31.01.2015Net profit Rs. 18,000Standing charges Rs. 42,000 out of which Rs. 10,000 have not been in-sured.Sum assured Rs. 50,000Standard turnover Rs. 65,000Turnover in the period of interruption Rs. 25,000 out of which Rs. 6,000was from a rented place at Rs. 600 p.m. Annual turnover is Rs. 2,40,000Saving in standing charges Rs. 4,725 p.a.Data of fire 30.09.2014A trend of 10% increase in sales had been located from the experience oflast years. |
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Answer» Answer: IDENTIFY the 'Accounting CONCEPTS' involved in the following: Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is INTERESTED to reflect the good INDUSTRIAL relations in the Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts. Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000. Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000.c) Accounts are prepared at the end of every YEAR. Identify the 'Accounting Concepts' involved in the following:a) Production Manager of the company is interested to reflect the good industrial relations in theaccounts.b) Machine is recorded at cost (Rs. 50,000) while the market value is Rs. 45,000.c) Accounts are prepared at the end of every year.d) Same accounting methods are used year after year. |
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