Categorize the following journal entry in Real A/c, Nominal
A/c and Personal A/c:
Goods worth Rs.10,000/- destroyed by fire and the insurance
company admitted the claim for Rs.8,000/-
Insurance Claim A/c Dr. 8,000/-
Loss By Fire A/c Dr. 2,000/-
To Trading A/c 10,000/-
Answer / jaydee banerjee
1.Stock A/C DR RS 10000/-
TO Trading A/C RS 10000/-
2.P&L A/C DR RS 2000/-
TO Loss on Stock by fire A/C RS 2000/-
3.Bank A/C DR RS 8000/-
ToInsurance Claim A/c RS 8000/-
Is This Answer Correct ? | 6 Yes | 2 No |
what is accounts?
Tell me the types of accounts involved in double entry book-keeping?
What is the TDS rate for Salary???????
Explain the impact of working capital in general business activities?
1 Answers Accenture, Capital IQ,
how to pass the entry of advance paid to employee against salary
Mention whether the account "cash" will be credited or debited when a company pays a bill?
Where do we create House banks and what is the process in sap fico
What is the difference between Balance Sheet and Fund Flow?
In the Manufacturing IF QC reject the material. Then where to record rejected material amount.
Capital Expenditure
2 Answers Chartered Accountant,
Foreign currency Valuation
What did you meant by Debit and Credit?