why the loss by fire taking in to the credit side of the
trading a/c.instead of this is company's loss?
- 3 Answers
- 11453 Views
- I also Faced
- E-Mail Answers
Answer Posted / rupesh
Goods lost by fire is credit side because the reduce purchase of goods cost prise
Goods lost by fire havent been sold and not included in closing stock
The purchase cost is debited
| Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
Expand-------BANT
When is proposed divided a current Liability and when is it non-current liability? Why is it in the list of Current Capital Accounts?
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
Expand BFSI
What is compensation theorem?
If we spend a sum of Rs.10 Lacs towards Processing and Upfront fee for obtaining working capital term loan. can we treat this amount as a deferred revenue expenditure or not
While we are bringing our machinery items to factory through a vehicle from other state to Andhra pradesh, is this correct to send our own state way bill along with the other state way bill.
What is Risk Assessment?
what is the subprime?explain it.
3.In TALLY,we used to call tally erp 9.like that,in sap we used to call SAP ECC 6.0.here what is ECC?,i know the abbreviation of ECC.i want to know the role of ECC?
Dear sir i had been called for ntpc interview and gd next month..please guide me for it!
In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.
which name written in Tan application form Applicant is sole proprieter companies name or individual name?
Expand ________FOR
state and explain THREE types of situation to which accounting concept might be applicable
