Insurance Claim Accounting

1. Problem on Loss of Stock # IV

3. Memorandum Trading Account
1.1.2015 to 13.2.2015
Total Creditors Account
1.1.2015 to 13.2.2015
Particulars Amount Particulars Amount
To Balance b/d 2000 By Cash 12000
To Credit Sales 14200 By Sales Return 700
By Balance c/d 3500
16200 16200
Particulars Amount Particulars Amount
To Cash 11000 By Balance b/d 1200
To Purchase Return 300 By Credit Purchases 12100
To Balance c/d 2000
13300 13300
Particulars Amount Particulars Amount
To Opening Stock 13000 By Sales
(14200 -700)
13500
To Purchases
(12100 -300)
11800 By Closing Stock
(Bal. Fig.)
14000
To Gross Profit
(20% on 13500)
2700
27500 27500