What will be the entry in book, stock get destroyed in fire
Of rs. 1, 00,000/- in two circumstances?
Answer Posted / sabeeh ullah khan
Abnormal loss A/c or Fire Damage Dr 100000
to Purchase A/c 100000
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ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
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