Interested to Buy Any Domain ? << Click Here >> for more details...
goods lost by fire rs10000 & insurance claim received for
the same rs8000.what are the effect of this entry in final
accounts?
- 17 Answers
- 77800 Views
- Amma Enterprises, BHU, HCL, Syntel, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / pravin mishra
trial balance cr side goods lostt by fire 10000.
profit and los account dr side loss on goods lost by fire
2000.
balance sheets asset side insurance claim 8000.
| Is This Answer Correct ? | 164 Yes | 42 No |
Answer / bandu deshmukh
effect 1 }trading a/c cr . by goods lost by faire RS=10,000.
2) p& l A/C Dr . to loss by fire Rs=2000.
3} Balansheet assitside : insurance claim received
Rs=8000
| Is This Answer Correct ? | 131 Yes | 15 No |
Answer / shaishav
Loss by fire a/c Dr 10000
To Purchases a/c 10000
Insurance claim received a/c Dr 8000
Profit and loss a/c Dr 2000
To Loss by fire a/c 10000
And if cash received...
Cash a/c Dr 8000
To Insurance claim a/c 8000
and i am right....:)
| Is This Answer Correct ? | 107 Yes | 28 No |
Answer / suryakiran
Goods lost by fire a/c dr
To Purchases
P&L a/c dr
To Goods lost by fire a/c
AND
Insurance claim received a/c
To P&L a/c
| Is This Answer Correct ? | 42 Yes | 28 No |
Answer / tarun
cost of goods lost Dr 10000
to trading account 10000
insurance claim ac Dr 8000
To loss of goods 8000
p& l ac Dr 2000
To loss of goods 2000
cash ac Dr 8000
To ins. claim 8000
| Is This Answer Correct ? | 19 Yes | 5 No |
Answer / khushal
Profit & loss A/c.........dr 2000
Insurance claim A/c ......dr 8000
To Purchase A/c. 10000
Bank A/c ................dr 8000
To Insurance Claim 8000
| Is This Answer Correct ? | 17 Yes | 5 No |
Answer / john
Particulars | Debit Amount | Credit Amount |
| | |
Loss by Fire A/c Dr. 10000
To Purchases A/c 10000
Insurance Co. Dr. 10000
To Loss by Fire A/c 10000
Bank A/c Dr. 8000
Profit and Loss A/c Dr. 2000
To Insurance Co. 10000
| Is This Answer Correct ? | 13 Yes | 1 No |
Answer / keshav gc
purchases ......
less:good loss by fire 10000.
...p/L alc dr 2000...
balance sheet.... assets 8000
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / ramzan kuldunkar
Trial balance credit side goods lost by fire 10000.
profit and los account debit side loss on goods lost by fire
2000.
balance sheets asset side insurance claim 8000.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / aditya jha
To goods destroy by fire A/C DR. In trading account.
Insurance claim A/C DR. In Assett side
| Is This Answer Correct ? | 0 Yes | 0 No |
what is indian income & foreign income
I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.
we are going to purchase a new office/gala . we are using tally software. in above transction we have to pay stamp duty,ragistration fees etc. my question is uder which heads i enterd above exp in tally.
What is the meaning of RTGS & its working ?
maximum bank permissable finance
What elements of your job interest you the most, and least?
1 Answers Insurance, Pharmaceutical, Sahajanand, Taikisha,
what is the definition of dual reporting in view of global market?
what are the adjustments and treatment with connection to the profit and loss appropriation accounts and how they do?
How the Depreciation will calculate in Company?
how would you describe youself
if a sole proprietor pays his firms insurance policy , How it should treated in books of accounts? whether it should be treated as investment? or indirect expenses?or drawings?
WHEN WILL SBI DECLARE THE RESULTS OF INTERVIEWS OF CLERICAL CADRE HELD IN APRIL-MAY 2010?
0 Answers State Bank Of India SBI,
Audit 
