What is the journal entry for good loss by fire? claim
receive from insurance company? after claim received the
loss occoured entry?

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What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / tejeshwar khandelwal

Insurance Company's Claim A/c Dr.8,000
Loss by fire A/c Dr.2,000
To Goods/Stock A/c 10,000
(Being goods lost by fire and insurance company's claim
received.)

Is This Answer Correct ?    79 Yes 32 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / sowmay jain

loss by fire a/c. dr.
To trading a/c
(being purchase account decreased)

insurance claim a/c. dr.
To loss by firea/c
(being ins. claim lodged and loss by fire account nulified)

Bank a/c. dr.
P&L a/c dr.(shortfall in claim settlement)
To insurance ckaim a/c
(being claim settled)

perfect entries for insurance claim.

Is This Answer Correct ?    45 Yes 18 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / om singh

Loss by fire a/c Dr.
Insurance company A/c Dr.
To purchase
(being goods loss bye fire and insurence company accepted loss)

Is This Answer Correct ?    16 Yes 10 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / satya prakash mani tripathi

Lost by fire a/c Dr
Insurance claim a/c. Dr
To. Purchase a/c

Is This Answer Correct ?    4 Yes 3 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / sharma

1)Loss by fire A/c Dr
To purchase A/c
2)Insurance claim A/c Dr
P/L A/c Dr
To loss by fire A/c
3) Bank/cash A/c. Dr
To insurance claim A/c

Is This Answer Correct ?    0 Yes 0 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / padmanava padhi

Loss of Stock a/c dr
To Trading A/c

P/L a/c dr
To Loss of stock a/c

we have to pass two entries in this case.

Is This Answer Correct ?    32 Yes 35 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / mohammad malik

goods lost by fire DR.
TO purchase a/c


cash/bank DR.
TO insurance company

Is This Answer Correct ?    11 Yes 14 No

What is the journal entry for good loss by fire? claim receive from insurance company? after claim ..

Answer / sumitra.raghavan

goods lost on fire A/c dr
to trading a/c
p/l dr
to goods lost
bank a/c
to insurance claim

Is This Answer Correct ?    15 Yes 21 No

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