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stock lost by fire of rs-230 and insurance company denied to
give insurance claim,journal entry
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Answer / atul kumar pandey
1 entry- stock lost by fire a/c dr.
to purchase a/c
2- entry- profit & loss a/c dr.
to lose by fire.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / mohammed fareed
Journal Entry
Abnormal loss a/c Dr 230
To Stock account 230
next entry
Profit and Loss a/c Dr 230
To Abnormal loss a/c 230
| Is This Answer Correct ? | 0 Yes | 0 No |
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0 Answers Franklin Templeton, TTC,
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1.Closing Inventory consists of 1,100 units. What would be the cost of Closing Inventory under FIFO and LIFO methods? Opening Inventory 1000 units @ $ 10 $ 10,000 Purchase (1) 800 units @ $ 11 $ 8,800 Purchase (2) 500 units @ $ 14 $ 7,000 Purchase (3) 400 units @ $ 12 $ 4,800 Purchase (4) 300 units @ $ 13 $ 3,900 ------------ ----------- Totals 3000 units $ 34,500 ======= ======
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