Interested to Buy Any Domain ? << Click Here >> for more details...
What will be the journal entry for good lost by fire. How
many entries will be passed in the books of account for the
same.
- 29 Answers
- 142715 Views
- IBM, MTM, I also Faced
- E-Mail Answers
Answer Posted / sonu
if goods are insured then,
1.one entry made in trading a/c credit side
2.second entry made in balance sheet asset side for
insurance covered amount.
3.third entry should be made in P&L a/c debit side.
e.g goods lost by fire rs.3000. insured goods worth rs 2000.
then,
good lost by fire on trading account cr. side will be rs 1000
asset side balance shit goods insured rs.2000
on the P&L a/c debit side it will be rs.3000
| Is This Answer Correct ? | 12 Yes | 13 No |
Post New Answer View All Answers
we had company we provide work others they deducted tds how to pass entries in my company please tell me
Follow up ageing balances of Debtors & Creditors and also Inventory
Tell me the meaning of long-term notes payable is or long term liabilities?
how to caluclate tds from emloyees and others
Definition of push down accounting
Our is a banking Activity, one person is supplying printing advertisement sheet of our product, whether he is liable to deducte TDS @ 1%
What is the difference between accrual
any one provide me mm & fi configration steps
What do we mean by purchase return in accounting?
Explain me scrap value in accounting?
I WRITE GROUP-4 EXAMINATION.I STADIYING INTERMEDET HOW MANY PARSANTEGE OF GROUP-4 EXAMINETIN
What are the two most important Factor that should be kept in mind when there is a buy back of shares in companies as per indian companies act,1956
How to post salary advance transfer from one branch to another branch ?
In which account does the unpresented cheque will get recorded?
what is turn over? what is vat? what should ido to become a expert in acount? plese ans me
