Answer / akhilesh

goods lost by fire a/c dr
To purchase a/c .

Answer / anjum a

Loss By Fire A/C Dr.
To Purchase A/c
(Being goods lost due to Fire)

At the end of the year the loss will be transferred to Profit & Loss A/c,that time the following entry will be passed :-

Profit & Loss A/c Dr.
To Loss By Fire A/c
(Being loss by fire transferred to P&L A/C)

Answer / manoj mishra

Loss by Fire A/c --Dr
To Purchase A/C

P&L A/C ----Dr.
To Loss by Fire A/C.

If the goods is insure and claim is received in part.

Cash A/C ----Dr.
To Insurance Com. A/C

Insurance Com. A/C---- Dr.
Loss on Claim A/C ----Dr.
To Loss by Fire A/C

P&L A/C ----Dr.
To Loss by Claim A/C

Answer / samir

Journal of goods lost by accident

Answer / tushar

Loss by fire A/C. Dr
To Goods Destroyed by fire A/C

Answer / karan

Loss by fire A/c Dr
To Goods A/c

Answer / anil

Claim receivable A/c Dr. XX

Loss by fire A/c Dr. XX

To Loss of Goods A/c XX

Answer / ajith

purchase a/c Dr
to loss on fair a/c

Answer / kiran negi

Debit Stock A/c
To Credit Goods lost by fire A/c

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