Interested to Buy Any Domain ? << Click Here >> for more details...
Q.Goods worth Rs.5000 destroyed in fire? Insurance claim
received RS.4000 for the goods lost? Loss of Rs.1000 pass
the entries in the books of accounts?
- 16 Answers
- 73533 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / abhyuday priyadarshi
bank a/c Dr. (amount received for claim admitted)
profit and loss a/c Dr. (claim not admitted)
to Insurance Company a/c
(being insurance claim partially admitted and received)
| Is This Answer Correct ? | 3 Yes | 12 No |
Answer / samir ladhani
Let me try..
When we book loss & put claim to insurance company,
Insurance claim receivable a/c. Dr 5000
to stock. 5000
when claim is received....
Bank a/c Dr 4000
Loss by fire a/c Dr 1000
to insurance claim receivable
5000
If u observe, net effect will be,
Bank a/c Dr. 4000
Loss by fire a/c Dr. 1000
to stock. 5000
| Is This Answer Correct ? | 5 Yes | 14 No |
Answer / mahesh
Good destroyed by fire a/c dr.5000
(Under trading a/c)
To insurance claim a/c 4000
(Under current assets)
To goods loss on fire a/c 1000
(Under indirect expenses)
| Is This Answer Correct ? | 1 Yes | 10 No |
Inventory A/C Dr 5000
To Insurance clamied receved A/c 4000
To Loss of inentory A/C 1000
---------------------------------------------
| Is This Answer Correct ? | 3 Yes | 19 No |
Answer / mukesh
Bank/cash A/c Dr 4000
Drawings A/c Dr 1000
To goods A/c Cr. 5000
| Is This Answer Correct ? | 1 Yes | 30 No |
what is the final accunt
Is profit & loss account assets or liability?
how to pass journal entry when cash received in the form of gold or other form?
usualy what they are expecting source of knowledge while in interview
A change in accounting policy is justified (a) To comply with accounting standard. (b) To ensure more appropriate presentation of the financial statement of the enterprise. (c) To comply with law. (d) All of the above.
what stock transfer applicable in sister concern unit.
What is debit and credit note?
Please provide me the entire format of P.F. & ESI
What is a accounts? and why have u prepare Accounts only one methods ?have a possible a different pattern?
What are the differences among band,debenture and share ?
Machinary worth Rs 2000 and sold to Rs 1200. Bought new one Rs 4000 and carige inwards Rs 5 How many amount trafer to Capital a/c?
what is CA?
Audit 
