Interested to Buy Any Domain ? << Click Here >> for more details...
sir, some body tell me how i treat the abnormal fire loss
stock :-our company suffer a fire loss during goods in
transit (goods were hold at warehouse and fire occured)
now how i account for the loss and what type of ledger
should i create and under which group
- 1 Answers
- 4220 Views
- I also Faced
- E-Mail Answers
Answer Posted / basanti
if goods were not insured than journal will be
loss by fire a/c.....dr
to trading a/c.....cr
which means it will be treated in credit side if trading
a/c & shown in debit side of P&L a/c.
if goods are insured than the claim amount is adjusted in
asset side of balance side.
| Is This Answer Correct ? | 2 Yes | 10 No |
Post New Answer View All Answers
Tell me what happens to company's “cash account” if it borrows money from the bank by signing a note payable?
Do you know how many types of business transactions are there in accounting?
we have received amount from others through debit/ credit cards. what is the ledger group of this? i am confused selecting the ledger group could you explain.
how intangible assets are entered in B/s. plz send me the answer of this question in my e-mailid-prabhatsingh873@gmail.com
what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam
cash credit taken from bank then what is the general entry?
Give Any three special cases of computation of capital Gain U/s 45(1A) to 45(6)?
How to post salary advance transfer from one branch to another branch ?
Describe the advantages and disadvantages of the different accounting packages/systems you have used recently in your accountant jobs
Explain what is bank reconciliation?
HOW TO FILL PURCHASE RETURNS IN VAT 200,IF NOT PURCHASES THE PERIOD?
can i material bill book in miro without vat on transport charges ?
From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast
Why company issue shares at discount as its a loss ?
sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .
