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Categorize the following journal entry in Real A/c, Nominal
A/c and Personal A/c:
Goods worth Rs.10,000/- destroyed by fire and the insurance
company admitted the claim for Rs.8,000/-
Insurance Claim A/c Dr. 8,000/-
Loss By Fire A/c Dr. 2,000/-
To Trading A/c 10,000/-

Question Posted / aijaz


Categorize the following journal entry in Real A/c, Nominal A/c and Personal A/c: Goods worth Rs.1..

Answer / jaydee banerjee

1.Stock A/C DR RS 10000/-
TO Trading A/C RS 10000/-

2.P&L A/C DR RS 2000/-
TO Loss on Stock by fire A/C RS 2000/-

3.Bank A/C DR RS 8000/-
ToInsurance Claim A/c RS 8000/-

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