Q.Goods worth Rs.5000 destroyed in fire? Insurance claim
received RS.4000 for the goods lost? Loss of Rs.1000 pass
the entries in the books of accounts?
Answer Posted / s k m
p&l a/c dr.1000
cash/bank a/c dr.4000
To goods a/c cr. 5000
Is This Answer Correct ? | 5 Yes | 14 No |
Post New Answer View All Answers
Tell me what are the key tasks for account executive?
What can be done incase of excess payment of TDS Remittence than the actual amount? Is there any adjustment towards the excess amount with the upcoming TDS payment? Reference of last quarter challan should be shown while adjusting in next quarter?
How the Entry passed for Loss of Payment
what are the voucher entries in tally for medical insurance
How Advances to suppliers for purchase of raw materials is to be considered while calculating Drawing Power
Dillution effect on EPS
what is the defination of mat n calculation of mat... with example this is applicable in company or firm, pl. discribe me.....thanx ashok
In the case of stock transfer from one branch to another branch any reverse credit is applicable.
Explain financial accounting.
How is the accounting for lease transactions done?
What does the financial statement of the company include?
What is a trial balance in accounting?
What are the 5 basic accounting principles?
1.what is the entry of petrol of payment made by credit card of owner? 2.what is the entry of petrol of payment made by credit card of Company?
Equipment A has a cost of Rs.75,000 and net cash flow of Rs.20000 per year for six years. A substitute equipment B would cost Rs.50,000 and generate net cash flow of Rs.14,000 per year for six years. The required rate of return of both equipments is 11 per cent. Calculate the IRR and NPV for the equipments. Which equipment should be accepted and why?