Interested to Buy Any Domain ? << Click Here >> for more details...
Goods lost by fire rs.5000 it was partly insured insurance company admit the claim for 3500 what will be the journal entry
- 3 Answers
- 4850 Views
- SRLF, I also Faced
- E-Mail Answers
Answer Posted / karthick
Insurance received 3500 Dr
Fire Loss 1500 Dr
To Goods Destroyed 5000 Cr
| Is This Answer Correct ? | 0 Yes | 3 No |
Post New Answer View All Answers
Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no.
what are the adjustments and treatment with connection to the profit and loss appropriation accounts and how they do?
what is difference among credit, loan, advance
What is fair value accounting definition?
The claim recoverable has been settled with the insurance company for 2000.what is the actual stock lost value? Please give me in calculation.
Entry Tax is Central Income or State Income. Which Challan this tax deposited ? In Sale Tax Return which column is shown this tax
Are there any questions you would like to ask?
How can i learn shortly Tally from computer coz, i want to take a company Balance Sheet
Explain some of the accrued expenses and the accounts in which you would record them?
Explain me scrap value in accounting?
rents part of its building for a monthly fee of $1,250. The rent for the month just past has not been received.
How do you prepare a balance sheet from a trial balance?
what is the difference b/w carpet area,covered area and build- up area and how it is calculated.......
What and How to compute an unsecured balances?
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
