Interested to Buy Any Domain ? << Click Here >> for more details...
What will be the entry in book, stock get destroyed in fire
Of rs. 1, 00,000/- in two circumstances?
- 10 Answers
- 24377 Views
- ACS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ravi.harjai2009@gmail.com
at the time when fire will occur...
Loss by fire a/c Dr 100000
To purchase a/c 100000
but if the fully or partly stock is insured,the following
will also be passed........
Insurance company a/c Dr [accepted claim amount]
P & L a/c Dr [not accepted amount]
To loss by fire a/c [total loss amount]
| Is This Answer Correct ? | 22 Yes | 0 No |
Answer / anshul arora
Loss By Fire A/C Dr. 100000
Stock A/C Cr.100000
| Is This Answer Correct ? | 16 Yes | 7 No |
Answer / vikas
Abnormal loss A/c Dr 100000
to Purchase A/c 100000
| Is This Answer Correct ? | 14 Yes | 11 No |
Answer / suastik
Dr. Cr.
Abnormal Loss A/C Dr. 100000
To Stock Destroyed by Fire 100000
(Abnornal Loss A/C will be shown Dr.side of P/L a/c, and
Stock destroyed by fire will be Cr. side of Trading a/c. of
Rs. 100000/-.)
| Is This Answer Correct ? | 3 Yes | 1 No |
Loss by fire a/c Dr.(Insured Amount)
P&l a/c Dr.(Not insured amount_
To Stock a/c
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / t.saravanan
Abnormal Loss A/c Dr. 100000
To Stock Cr. 100000
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / nitin sharma
MR. Suastik
You are writr but if some amount is not accept by insurance
co. this conditon will be applicable there
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / rakesh verma
I agree with the answer of Ravi Harjai, but I think second
entry should be as :
Insurance co. a/c Dr. 75000 (for example)
To Loss bu fire a/c 75000
balance amount would be automatically shown as not accepted
amount by insurance company.
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / sabeeh ullah khan
Abnormal loss A/c or Fire Damage Dr 100000
to Purchase A/c 100000
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / amit.kala87
loss by fire a/c dr 100000
to purchases a/c 100000
| Is This Answer Correct ? | 1 Yes | 4 No |
why the net profit arises on the debit side of profit and loss account wen the nominal acount rule states debit all expenses and losses and credit all incomes and gains
What is fiduciary accounting?
paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
0 Answers Real Group Of Companies,
double entry system
1 Answers Spedag Interfreight,
what is account opening and account closing??
10 Answers Royal Bank Of Scotland,
what is golden rules of account?
what is depreciation
goods sold to mr x of rs5000/-,out of that we give him discount allowed of rs 500/-,and we take setting charges of rs1000/-.so what will be the entry?
Why is accounting done?
What is difference between Cash Flow and fund flow
What is the Difference Between Limited Co. and Pvt. Ltd. Co. ?
What are the nine accounting cycles?
Audit 
