What is the journal entry for good loss by fire? claim
receive from insurance company? after claim received the
loss occoured entry?
- 8 Answers
- 51000 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / tejeshwar khandelwal
Insurance Company's Claim A/c Dr.8,000
Loss by fire A/c Dr.2,000
To Goods/Stock A/c 10,000
(Being goods lost by fire and insurance company's claim
received.)
| Is This Answer Correct ? | 82 Yes | 33 No |
Answer / sowmay jain
loss by fire a/c. dr.
To trading a/c
(being purchase account decreased)
insurance claim a/c. dr.
To loss by firea/c
(being ins. claim lodged and loss by fire account nulified)
Bank a/c. dr.
P&L a/c dr.(shortfall in claim settlement)
To insurance ckaim a/c
(being claim settled)
perfect entries for insurance claim.
| Is This Answer Correct ? | 45 Yes | 18 No |
Answer / om singh
Loss by fire a/c Dr.
Insurance company A/c Dr.
To purchase
(being goods loss bye fire and insurence company accepted loss)
| Is This Answer Correct ? | 16 Yes | 12 No |
Answer / satya prakash mani tripathi
Lost by fire a/c Dr
Insurance claim a/c. Dr
To. Purchase a/c
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / sharma
1)Loss by fire A/c Dr
To purchase A/c
2)Insurance claim A/c Dr
P/L A/c Dr
To loss by fire A/c
3) Bank/cash A/c. Dr
To insurance claim A/c
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / padmanava padhi
Loss of Stock a/c dr
To Trading A/c
P/L a/c dr
To Loss of stock a/c
we have to pass two entries in this case.
| Is This Answer Correct ? | 32 Yes | 35 No |
Answer / mohammad malik
goods lost by fire DR.
TO purchase a/c
cash/bank DR.
TO insurance company
| Is This Answer Correct ? | 11 Yes | 15 No |
Answer / sumitra.raghavan
goods lost on fire A/c dr
to trading a/c
p/l dr
to goods lost
bank a/c
to insurance claim
| Is This Answer Correct ? | 15 Yes | 21 No |
what are the nationalised banks?
get fixed assets items
WHAT ARE THE LIMITATIONS FACING ACCOUNT CONCEPTS AND CONVENTIONS?
Tell us what kind of work environment do you prefer?
i want to know that which head post the bill of energy audit payment in tally.
question paper pattern of factset
What is an Debenture
what are the elements of the companay
Explain compound journal entry.
Tell me what are the activities that includes in cash flow statement?
What Is Differ tax,
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/-
Audit 
