What will be the entry in book, stock get destroyed in fire
Of rs. 1, 00,000/- in two circumstances?
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Answer / ravi.harjai2009@gmail.com
at the time when fire will occur...
Loss by fire a/c Dr 100000
To purchase a/c 100000
but if the fully or partly stock is insured,the following
will also be passed........
Insurance company a/c Dr [accepted claim amount]
P & L a/c Dr [not accepted amount]
To loss by fire a/c [total loss amount]
| Is This Answer Correct ? | 22 Yes | 0 No |
Answer / anshul arora
Loss By Fire A/C Dr. 100000
Stock A/C Cr.100000
| Is This Answer Correct ? | 16 Yes | 7 No |
Answer / vikas
Abnormal loss A/c Dr 100000
to Purchase A/c 100000
| Is This Answer Correct ? | 14 Yes | 11 No |
Answer / suastik
Dr. Cr.
Abnormal Loss A/C Dr. 100000
To Stock Destroyed by Fire 100000
(Abnornal Loss A/C will be shown Dr.side of P/L a/c, and
Stock destroyed by fire will be Cr. side of Trading a/c. of
Rs. 100000/-.)
| Is This Answer Correct ? | 3 Yes | 1 No |
Loss by fire a/c Dr.(Insured Amount)
P&l a/c Dr.(Not insured amount_
To Stock a/c
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / t.saravanan
Abnormal Loss A/c Dr. 100000
To Stock Cr. 100000
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / nitin sharma
MR. Suastik
You are writr but if some amount is not accept by insurance
co. this conditon will be applicable there
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / rakesh verma
I agree with the answer of Ravi Harjai, but I think second
entry should be as :
Insurance co. a/c Dr. 75000 (for example)
To Loss bu fire a/c 75000
balance amount would be automatically shown as not accepted
amount by insurance company.
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / sabeeh ullah khan
Abnormal loss A/c or Fire Damage Dr 100000
to Purchase A/c 100000
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / amit.kala87
loss by fire a/c dr 100000
to purchases a/c 100000
| Is This Answer Correct ? | 1 Yes | 4 No |
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