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Mac Purchased on 15th Jan 12000/-
30th June Machinery damaged due to Fire Accident
31st Dec received the Insurance Premium 13000/-.
Pass the Journal Entry for all the above three
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Answer / dspsaradi
15TH JAN DEBIT CREDIT
MACHINARY A/C 12000/-
TO CASH/CREDITOR A/C 12000/-
30TH JUNE
INSURANCE PREMIUM CLAIM A/C 12000/-
TO MACHINARY A/C 12000/-
31ST DEC
CASH / BANK A/C 13000/-
TO INSURANCE PREMIUM CLAIM A/C 12000/-
TO OTHER INCOME 1000/-
| Is This Answer Correct ? | 41 Yes | 1 No |
Answer / azeem
Mac A/C Dr.
To cash A/C
Mach Damaged A/c Dr.
To Mach A/c
Cash A/c Dr.
To Insurance prm
| Is This Answer Correct ? | 15 Yes | 3 No |
Answer / bijay kumar jha
DEBIT CREDIT
MACHINARY A/C 12000/-
TO CASH/CREDITOR A/C 12000/-
INSURANCE PREMIUM CLAIM A/C 12000/-
TO MACHINARY A/C 12000/-
CASH / BANK A/C 13000/-
TO INSURANCE PREMIUM CLAIM A/C 12000/-
TO PRofit/loss 1000/-
| Is This Answer Correct ? | 10 Yes | 3 No |
Answer / subramanyam
First entry
Machinary A\c
To Cash\bank\x (x means credit purchase)
Second entry
Insurance claim A\c 13000
To Machinary A\c 12000
To P&L A\c 1000
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / kanika
Machinery a/c dr.12000
to cash a/c 12000
loss by fire a/c dr. 12000
to machinery a/c 12000
Cash a/c dr. 13000
to Insurance premium a/c 13000
Ins. claim a/c dr. 12000
to machinery a/c 12000
to profit a/c 1000
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / nitin sharma
15TH JAN DEBIT CREDIT
MACHINERY A/C 12000
TO CASH/BANK/CREDITORS A/C 12000
30TH JUNE
LOSS DUE TO FIRE A/C 12000
TO MACHINERY A/C 12000
31ST DEC
BANK A/C 13000
INSURANCE PREIMUM CLAIM A/C 12000
OTHER INCOME A/C 1000
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / seshagiri.g
15TH JAN DEBIT CREDIT
MACHINARY A/C 12000/-
TO CASH/CREDITOR A/C 12000/-
30TH JUNE
INSURANCE PREMIUM CLAIM A/C 12000/-
TO MACHINARY A/C 12000/-
31ST DEC
CASH / BANK A/C 13000/-
TO INSURANCE PREMIUM CLAIM A/C 12000/-
TO OTHER INCOME 1000/-
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / amarendra
TRansaction is INVALID
The Machinery is Purchased on Jan month damaged on June
month.so it was used upto june month so there will be some
depreciation.then how the Insurance Company will pay
Rs.13000/- eventhough machinery used for six months since
its actual price is Rs.12000/-
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / shoukath
the transaction is in valid bcz he purchased mechinary
12000 he useed epto 6 months also .how he got 13000 from
insurance co.cheeting insurance comapny is an offence under
the law.
| Is This Answer Correct ? | 2 Yes | 1 No |
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