Calculating Fire Insurance Claim for Loss of Stock

The video tutorial explains how to calculate an insurance claim for loss of stock due to a fire on April 1, 2018, at Mr. Kapoor's premises. It provides sales and purchase data for 2017 and early 2018, discusses stock valuation adjustments, and estimates missing data for March 2018. The tutorial guides viewers through preparing a memorandum trading account and calculating the gross profit ratio from 2017 data, which is then applied to the current year to determine the claim amount.

What date did the fire occur in Mr. Kapoor's premises?

What were the sales figures for January and February 2018?

How much was the stock valued at on 31st December 2016?

What percentage above cost was the stock valued at on 31st December 2017?

How is the sales and purchase data for March 2018 estimated?

What was the amount of goods lost due to theft in January 2018?

What is the significance of the average clause in the insurance policy?

What is the total amount of purchases for the year 2017?

What adjustments need to be made for the stock valuation on 31st December 2016?

What is the gross profit ratio calculated from the previous year's data?