CIA-1 PROJECT

On

FIRE INSURANCE CLAIM

By

SAKSHAM

Register No: 1811133

Submitted to

DR. PRAKASH

DEPARTMENT OF COMMERCE

CHRIST (Deemed to be University)

Bengaluru

2018-2019
 STATEMENT

Fire occurred in the premises of Mr. X on 15th April, 2015 and a considerable part of
stock was destroyed. The stock salvaged was 56000. A fire insurance policy for 50000
was take to cover the loss due to fire. Stock salvaged was 70000. other information is
given below

Particulars for the year 2014

Purchase 200000
Opening stock 162000
Closing stock 81000
Sales 450000
Carriage inwards 20000
Factory expenses 10000
Wages 20000

Particulars for the year 2015 till date of fire

Purchases 300000
Opening stock 81000
Sales 400000
Factory expenses 50000
Carriage inwards 10000
Wages 20000

1. We are required to make a trading account for the year 2014 and 2015 estimate the
amount of claim to be laughed against the insurance company
2. fill up a claim form against the insurance company
3. prepare a report for the insurance company
The company had a policy of valuing the stock at 10 percent less than the original cost