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What will be the entry in book, stock get destroyed in fire
Of rs. 1, 00,000/- in two circumstances?
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Answer Posted / ravi.harjai2009@gmail.com
at the time when fire will occur...
Loss by fire a/c Dr 100000
To purchase a/c 100000
but if the fully or partly stock is insured,the following
will also be passed........
Insurance company a/c Dr [accepted claim amount]
P & L a/c Dr [not accepted amount]
To loss by fire a/c [total loss amount]
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