Answer / anupam singh

MSOD (Monthly Statement of Drawings) is a statement which comprises information regarding Monthly Sale, Purchase, Stock and debtors.
Bank calculate drawing power of a barrower on the basis of the information provided by the borrower in the MSOD Statement.

Answer / khushboo todi

BANK MSOD IS A KIND OF STATEMENT REQUIRED TO BE PREPARED BY THE BORROEWR FOR SUBMITING IT TO THE LENDER BANK.
BANK MSOD IS PREPARED BY FOLLOWING PRESCRIBED BANKING NORMS.

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/-

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