Answer / akhilesh

goods lost by fire a/c dr
To purchase a/c .

Answer / anjum a

Loss By Fire A/C Dr.
To Purchase A/c
(Being goods lost due to Fire)

At the end of the year the loss will be transferred to Profit & Loss A/c,that time the following entry will be passed :-

Profit & Loss A/c Dr.
To Loss By Fire A/c
(Being loss by fire transferred to P&L A/C)

Answer / manoj mishra

Loss by Fire A/c --Dr
To Purchase A/C

P&L A/C ----Dr.
To Loss by Fire A/C.

If the goods is insure and claim is received in part.

Cash A/C ----Dr.
To Insurance Com. A/C

Insurance Com. A/C---- Dr.
Loss on Claim A/C ----Dr.
To Loss by Fire A/C

P&L A/C ----Dr.
To Loss by Claim A/C

Answer / samir

Journal of goods lost by accident

Answer / tushar

Loss by fire A/C. Dr
To Goods Destroyed by fire A/C

Answer / karan

Loss by fire A/c Dr
To Goods A/c

Answer / anil

Claim receivable A/c Dr. XX

Loss by fire A/c Dr. XX

To Loss of Goods A/c XX

Answer / ajith

purchase a/c Dr
to loss on fair a/c

Answer / kiran negi

Debit Stock A/c
To Credit Goods lost by fire A/c

if current ratio=2.5 : 1 liquid ratio= 1:1 closing stock=rs 45000 calculate current assets current liabilities liquid assets

1 Answers  

Rent is direct income or indirect income

2 Answers  

how to account pre incorporation expenses

4 Answers   Nestle,

Can any body missuses the pass book of a saving account in a bank in India? I mean in case some body steal a pass book, can the account be stolen too?

4 Answers   State Bank Of India SBI,

How to pass entry for fllowing instance in tally or journal entry: Imported goods worth Rs.17,000/-.Invoice value is Rs.17000/- (its incl. Rs.6,000/- freight), duty for this is Rs.4500/- (its seperate).Kindly tel me how to pass entry for the above?

13 Answers  

What is the types of Accounting Method

6 Answers  

What are the nine accounting cycles?

0 Answers  

FIXED Asset - What is the most used method/right method in Depreciation in India and other countries..? (ie., Straight line method,Written down value method. or etc.,). The calculation for depreciation how it stand commonly in all organization..? Is there any difference between companies and assets..? Your answer will be highly appreciated. Thanks in advance.

3 Answers  

Explain the accounts payable cycle

0 Answers  

How can I put Bank Guarantee Receipt entry in Tally ERP9?

0 Answers   Shaqab,

X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800

1 Answers  

over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured

0 Answers