Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A consignment of 100 packages of equal value insured at $64,000.00 so valued sustained loss and damage as follows: 20 packages totally lost during

image text in transcribed

A consignment of 100 packages of equal value insured at $64,000.00 so valued sustained loss and damage as follows: 20 packages totally lost during discharge from overseas vessel (insured peril) 80 packages damaged by water (insured peril) Surveyor estimates gross sound arrived value of whole consignment at $59,500.00 and determines by sale the gross damaged arrived value of the water damaged packages at $46,880.00 Survey fees and sale charges amount to $590.00. Required: a. b. Calculate the claim due the insured under this policy. If freight in the above scenario was prepaid and insured separately at $9000.00 calculate the freight claim.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools for Business Decision Making

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

6th edition

1118096894, 978-1-11921511, 978-1118096895

More Books

Students also viewed these Accounting questions