Answer / amjad

loss of stock Dr. ( this will be indirect exp.)

To stock A/c ( which is loss )

Answer / guest

loss of stock a/c dr.

To- stock

Answer / ganesh

In case of loss of stock, if there is Normal loss no entry
is required to pass in such cases price have to be
inflated.But for abnormal loss:-

Loss of stock A/c.....Dr.
To stock A/c

Answer / mohd rashid

NO ENTRY REQUIRED FOR NORMAL LOSS AND FOR ABNORMAL LOSS THERE ARE THREE POSSIBILITIES
1 STOCK FULLY COVERED BY INSURANCE THEN

INSURANCE COMPANY A/C DR
TO TRADING A/C
2 IF PARTLY COVERED THEN

INSURANCE COMPANY DR
P&L A/D DR
TO TRADING A/C

3. NOT COVERED

P&L A/C DR
TO TRADING A/C

Answer / devender kumar

Normally This type of entry is passed

Loss of stock a/c dr
to Purchase a/c cr

Because our stock will decrease from stock journally we dont pass journal entry of stock.

From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast

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