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Goods destroy by fire-journal entry?
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Answer / sukanta saha
goods destroyed by fire A/C debit
purchase A/c credit
| Is This Answer Correct ? | 57 Yes | 31 No |
Answer / rabindra mallick
# If not Insured-
Profit & Loss a/c
To Trading (Stock) a/c Cr.
# If Partly Insured-
Insurance Claim a/c Dr.
profit & Loss a/c Dr.
To Trading (stock) a/c Cr.
# If fully insured-
Insurance Claim a/c Dr.
To Trading (stock) a/c Cr.
| Is This Answer Correct ? | 53 Yes | 29 No |
Answer / sandeep kumar chhajlana
Loss by fire a/c Dr.
To stock/inventory a/c
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / angel
Goods destroyed ac ....Dr
To trading account
And second entry
Balance sheet asset side
| Is This Answer Correct ? | 10 Yes | 11 No |
Answer / debraj pal
Closing Stock A/c Dr
To P/L Acct
P/L Acct Dr
To Goods destroyed by fire
| Is This Answer Correct ? | 39 Yes | 41 No |
Answer / suraj dubey
Loss by fire A/c Dr.
To Destroyed by fire A/c
| Is This Answer Correct ? | 7 Yes | 11 No |
journal entry for prepaid insurance and salary outstanding
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