From the information given below calculate the sum insurable Date of fire 01 03 2016 Turnover from n...........

General Accounting Principles Special Journals

From the information given below, calculate the sum insurable :

Date of fire-01.03.2016

Turnover from 01.03.2015 to 29.02.2016—F 88,00,000

Agreed GP ratio-20%

Special circumstances clause provided for the increase of turnover by 10%

Rs 19,36,000

Rs 48,40,000

Rs. 10,32,000

Rs. 24,20,000

For calculation of Sum Insurable Turnover = 88,00,000

Add increase of turnover by 10% clause = 8,80,000

Total = 96,80,000
Agreed G P ratio= 20%
96,80,000 X 20% = 19, 36,000
Hence total Sum Insurable = 19, 36,000

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TOTAL SUM ISURABLE IS WRONG PLZ CHK CALCULATION