Interested to Buy Any Domain ? << Click Here >> for more details...
What is the journal entry for good loss by fire? claim
receive from insurance company? after claim received the
loss occoured entry?
- 8 Answers
- 52989 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 |
Is it mendatory to provide deferred tax asset, where the management not expecting taxable profit in the subsequent financial years.
why debit is called debit.& why debit is on left side,why not on right side ?
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
Explain what is bad debt expense?
entry of salary after deducting esi and pf
What is control in accounting?
Who was the first person to climb Mount Everest?
when re ordring quantity is 300 unit.minimum usage is 20unit minimum lead time is 5 days , maximum stock 400 unit , re - ordering will be: 1)300 unit 2)200 unit 3)400 unit 4)100 unit
how to pass journal entry when cash received in the form of gold or other form?
Private purchases amounting to rs 5000 have been debited to purchases account
How to create report of t code f-02 in SAP FI?
Define partitioning in accounting?
Audit 
