Journal entries if the following line items are given as
adjustment in balance sheet and p l a/c
Fire accident of inventory
Case 1. No insurance coverage
Case 2.partly insurance coverage
Case 3. Fully insurance coverage
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Answer Posted / chetipelli srilatha
in 1st case total amt posted in trding a/c & in pl a/c.
2nd case total amt posted in trading a/c & partly insurance
coverage amt posted in balance sheet then partly amt in p l
a/c as loss by fire. 3rd case total amt posted in trading
a/c and in balance sheet
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