Describe the procedure for computing the loss of stock by fire.



Describe the procedure for computing the loss of stock by fire...

Answer / nithesh

loss of stock by fire--------dr
to trading a/c
being loss accurde amount charged to trading account

profit & loss a/c------------dr
to loss of stock by fir
being loss debited to p&l a/c

Is This Answer Correct ?    4 Yes 1 No

Post New Answer

More Accounting AllOther Interview Questions

What are the Journal Entries posted in the books of a Mutual Fund of a Legal Entity in USA in regular accounting?

0 Answers  


what is Credit derivatives,equity derivatives,SWAPS?

1 Answers   UBS,


Received from Krishna Murthy Rs 26500/- in full settlement of due Rs 30000/-. Pass entry

9 Answers  


HOW I CAN PREPARE A BALANCE SHEET OF A COMPANY ?

0 Answers  


Any one give some questions and answers . B.R.S, and tally9.0

2 Answers  


what type of questions are asking for fund administration???

0 Answers   HSBC,


define p&l approprate

2 Answers   Genpact,


what are the basic accounting entreis ?

4 Answers  


Hi Friends, Please Help me! at the time Interview I feel very nervous, how to come out from nervous & what are question I expect for Accounts Executive level Interviews? Please Give me some suggessions, Thank U.

7 Answers  


What are the errors and the types of errors?

7 Answers   Accenture, Genpact,


How do u show Drawings In Trading Account ?

8 Answers  


What Do u mean by deffered Tax Liability

1 Answers  


Categories