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Q.Goods worth Rs.5000 destroyed in fire? Insurance claim
received RS.4000 for the goods lost? Loss of Rs.1000 pass
the entries in the books of accounts?
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Answer Posted / himanshu singhal
1) GOODS LOSS BY FIRE A\C DR. 5000
TO GOODS A\C 5000
2) CASH A\C DR. 4000
LOSS A\C DR. 1000
TO GOODS A\C 5000
| Is This Answer Correct ? | 124 Yes | 92 No |
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