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?
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Answer Posted / mahendra
Loss by fire a/c dr. 5000
To trading a/c 5000
Insurance co. Dr. 4000
Profit and loss a/c dr.1000
To loss by fire a/c. 5000
| Is This Answer Correct ? | 1 Yes | 9 No |
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