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Describe the procedure for computing the loss of stock by fire.



Describe the procedure for computing the loss of stock by fire...

Answer / nithesh

loss of stock by fire--------dr
to trading a/c
being loss accurde amount charged to trading account

profit & loss a/c------------dr
to loss of stock by fir
being loss debited to p&l a/c

Is This Answer Correct ?    4 Yes 1 No

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