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HI FRIENDS CAN ANY BODY PASS THIS JOURNAL ENTRY: LOSS OF
STOCK PLS PASS THIS JOURNAL ENTRY FRIENDS?
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Answer Posted / mohd rashid
NO ENTRY REQUIRED FOR NORMAL LOSS AND FOR ABNORMAL LOSS THERE ARE THREE POSSIBILITIES
1 STOCK FULLY COVERED BY INSURANCE THEN
INSURANCE COMPANY A/C DR
TO TRADING A/C
2 IF PARTLY COVERED THEN
INSURANCE COMPANY DR
P&L A/D DR
TO TRADING A/C
3. NOT COVERED
P&L A/C DR
TO TRADING A/C
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