Goods lost by fire rs.5000 it was partly insured insurance company admit the claim for 3500 what will be the journal entry
- 3 Answers
- 4003 Views
- SRLF, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / navin kumar
Goods Loss by fire A/C Dr 5000
To Trading/Purchases 5000
(Being good lost by fire)
Insurance claim A/C Dr 3500
To Goods Loss by fire A/C 3500
Profit and loos A/C Dr 1500
To Goods Loss by fire A/C 1500
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / karthick
Insurance received 3500 Dr
Fire Loss 1500 Dr
To Goods Destroyed 5000 Cr
| Is This Answer Correct ? | 0 Yes | 3 No |
Answer / s.c.bhalla
Insurance co Dr. Rs.3500
Profit & Loss a/c Dr. Rs 1500
To Goods destroyed a/c Rs.5000
Question is not clear- It is assumed that damaged goods were part of stock accordingly at the stage of preparation of trading a/c damaged to be shown separately on the credit side of Trading a/c
| Is This Answer Correct ? | 0 Yes | 3 No |
Tell me what is reversing journal entries?
what is use of cost category ? which type is useful in accounting work ? give answer with solid example because iam slow learner in accounting line.
Where is the reserve
Do you know executive accounting?
HOW GET DUTY AND DRAWBACK ? ON WHICH TYPES ITEMS WE GET DUTY DRAW BACK?
all ques. related to accounts?
If a company pay salary all the employee by seprate cheque and all the employee registed in pf & esi so what is journal the journal entry in tally? and what i create all employee a/c in tally?
which chart of accounts is used for day to day postings?
withdrew cash for domestic use ?
Is electricity charges are direct or indirect expenses
If we maintain inventory then if proprietor take the some goods for personal Use then how to we do entry
How to charged TDS on salary and How many charged percentage?
Audit 
