Q.Goods worth Rs.5000 destroyed in fire? Insurance claim
received RS.4000 for the goods lost? Loss of Rs.1000 pass
the entries in the books of accounts?
Answers were Sorted based on User's Feedback
Answer / krishan murari
1. Loss by fire A/c ...Dr. 5000
To Purchases A/c. 5000
2. Insurance Co. ...Dr. 5000
To Loss by fire A/c. 5000
3. Bank A/c. ...Dr. 4000
Profit and Loss A/c...Dr. 1000
To Insurance Co. 5000
| Is This Answer Correct ? | 153 Yes | 44 No |
Answer / himanshu singhal
1) GOODS LOSS BY FIRE A\C DR. 5000
TO GOODS A\C 5000
2) CASH A\C DR. 4000
LOSS A\C DR. 1000
TO GOODS A\C 5000
| Is This Answer Correct ? | 124 Yes | 92 No |
Answer / animesh chaturvedi
Loss by fire A/c Dr. 5000
To loss A/c cr. 1000
To insurance A/c. Cr. 4000
| Is This Answer Correct ? | 21 Yes | 19 No |
Answer / sonu
Loss by fire(Goods)A/C Dr. 5,000
To Goods A/C 5,000
(Being goods lost by fire)
P/L A/C Dr. 5,000
To Loss by fire(Goods)A/C 5,000
(Being loss t/fd to p/l a/c)
Bank A/c Dr. 4,000
To Insurance claim A/C 4,000
(Being insurance claim received)
Insurance Claim A/C Dr. 4,000
To P/L A/C 4,000
(Being insurance claim t/fd to P/L A/C)
| Is This Answer Correct ? | 46 Yes | 45 No |
Answer / vishal parkhi
Insurance claim a/c dr 4000
Loss by fire a/c dr 1000
To goods destroyed by fire a/c 5000
| Is This Answer Correct ? | 5 Yes | 11 No |
Answer / ritu
P/l a/c debit 1000
Insurance claim a/c debit 4000
To goods lost by fire a/c 5000
| Is This Answer Correct ? | 6 Yes | 14 No |
Answer / mahendra
Loss by fire a/c dr. 5000
To trading a/c 5000
Insurance co. Dr. 4000
Profit and loss a/c dr.1000
To loss by fire a/c. 5000
| Is This Answer Correct ? | 1 Yes | 9 No |
Answer / s k m
p&l a/c dr.1000
cash/bank a/c dr.4000
To goods a/c cr. 5000
| Is This Answer Correct ? | 5 Yes | 14 No |
Answer / ranjit
Loss by theft Account Dr 1000
Cash/Bank A/c Dr 4000
To Purchase Account 5000
| Is This Answer Correct ? | 3 Yes | 12 No |
Answer / nandish
Goods destroyed by fire a/c Dr 5000
To inventory a/c Cr 5000
(Being goods destroyed by fire)
Bank a/c Dr 4000
Loss on goods destroyed by fire Dr 1000
To goods destroyed by fire Cr 5000
Being insurence claim received
| Is This Answer Correct ? | 13 Yes | 22 No |
what is the mean of amountisation
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
in bank statement what is the tras date? and value date? what is the difference?
What is trade finance
3 Answers Barclays, IBM, Manufacturing,
sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .
If A are issueing a Cheque to B when B will present the Chq. in Bank than what entry will be prepare by the Bank in Their Books ?
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
what are the General Ledger (G L)Accounts?
WHAT IS ENTRY FOR CREDIT SALES?
WE have paid two month Advance salary on dated 03 June 2010. What will be journal entry inthe month of june for advance payment. And what will be journal entry in the month of july and August for salary adjustment.
Tell us do you have any professional experience of this field?
What is the difference between Retained earning and Net Profit?