TRIAL QUESTION The following data was collected by an average adjuster assigned to adjust for a vessel on average after a serious fire broke out on board endangering the whole adventure resulting in both ship and cargo sustaining GA damage in addition to PA losses. GA damage to ship GA damage to Cargo PA damage to Ship PA damage to Cargo GA expenditure(paid by owner) Gross amount of freight at risk = 500,000 Freight contingent expenditure = Ship's sound value Total invoice value of cargo Adjusting according to YAR show your calculations in arriving at the GA contributions of the interests you identify in this adventure. = 560,000. = 1,215,000. 800,000 = 1,675,000 = 424,000 30,000 =5,000,000 %3D =8,000,000

TRIAL QUESTION The following data was collected by an average adjuster assigned to adjust for a vessel on average after a serious fire broke out on board endangering the whole adventure resulting in both ship and cargo sustaining GA damage in addition to PA losses. GA damage to ship GA damage to Cargo PA damage to Ship PA damage to Cargo GA expenditure(paid by owner) Gross amount of freight at risk = 500,000 Freight contingent expenditure = Ship's sound value Total invoice value of cargo Adjusting according to YAR show your calculations in arriving at the GA contributions of the interests you identify in this adventure. = 560,000. = 1,215,000. 800,000 = 1,675,000 = 424,000 30,000 =5,000,000 %3D =8,000,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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