Interested to Buy Any Domain ? << Click Here >> for more details...
accounting effect for closing stock goods destroyed by fire
and claim is given by insurance co
- 3 Answers
- 13253 Views
- Forbes, I also Faced
- E-Mail Answers
Answer Posted / mathew
The answer is as follows :
Abnormal loss ...............Dr
To Trading a/c
Cash a/c..............Dr
To Insurance Co
(assuming that the Insurance co has accepted the claim of the firm and has fully remitted the value of stock destroyed, since the question states the claim has been given by the Insurance co)
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
how to individual capital account.
Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?
what is loan operations and what are the complete process form from making customer to closure of loan
please explain all accounting concepts n conventions in detail
What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.
What are negative postings?What are Credit memos ?Payment Requests ?
My company sent this party goods 62750 this goods is loss sundorbhan paribahan. how to create voucher
Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
WHAT ELEMENTS OF YOUR JOB JNTEREST YOU THE MOST AND LEAST?
What is the difference between personal account real account and nominal account?
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?
what is tribal area allowance means
which chart of depreciation copy for our Indian companies in sap(fi-aa)? please give answer. Thanking you, mohan
Why do users of accounting information need accounting information?
