Goods destroy by fire-journal entry?

Answers were Sorted based on User's Feedback

Answer / nair vineeth

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

Is This Answer Correct ?    51 Yes 5 No

Answer / debraj pal

Closing Stock A/c Dr
To P/L Acct

P/L Acct Dr
To Goods destroyed by fire

Is This Answer Correct ?    34 Yes 18 No

Answer / rabindra mallick

# If not Insured-
Profit & Loss a/c
To Trading (Stock) a/c Cr.
# If Partly Insured-
Insurance Claim a/c Dr.
profit & Loss a/c Dr.
To Trading (stock) a/c Cr.

# If fully insured-
Insurance Claim a/c Dr.
To Trading (stock) a/c Cr.

Is This Answer Correct ?    21 Yes 12 No

Answer / sukanta saha

goods destroyed by fire A/C debit
purchase A/c credit

Is This Answer Correct ?    12 Yes 6 No

Answer / angel

Goods destroyed ac ....Dr
To trading account
And second entry
Balance sheet asset side

Is This Answer Correct ?    0 Yes 0 No

Answer / riya edwina

Trading A/c Dr.
To Good destroyed by fire A/c

Is This Answer Correct ?    0 Yes 2 No

Answer / sibaprasad mondal

Abnormal loss A/C----------- DR
TO, Stock A/C

Is This Answer Correct ?    0 Yes 2 No

Answer / naveen kumar r

Goods destroyed by fire a/c Dr
To Trading Account

Is This Answer Correct ?    0 Yes 6 No

Answer / m.balakrishna

stock a/c Dr
To Purchase a/c

Is This Answer Correct ?    10 Yes 24 No

Post New Answer

More Accounting General Interview Questions

What is Share Premium?

7 Answers   Capital IQ,

Purpose for maintained RG 23a Part II & RG 23c PArt II? give brief discussion....

2 Answers   TCS,

Kindly tell me some journal entry of provision . 1) Make provision for Rs 100 teliphone bill on 31 March 2010. 2) teliphone bill received Rs 150/- on dated 10 Apr 2010. What will be journal entry for both case in tally.

11 Answers  

hi friends, i have simple doubt if we completed this financial year that is 2009-10 march. after that we will file it period of from apr-2010 that is new f.y.what we take the opening balances without filing how can we know the exactly figures?

0 Answers  

What is the journal entry for tds collected on a cheque of Rs 50000 paid to a consultant?

3 Answers  

what is the effect of surplus in p&l account? or what is its significance

1 Answers  

state (5) accounting concepts and give 1 example of each

0 Answers  

when we can submit Form-C to the Sales Tax Dept. What is the period to issue Form-C to the supplier

0 Answers  

What is holding company?

3 Answers  

Who has to prepare credit note and debit note? whether the account department or the concerned department like, purchase department, sales department.

4 Answers   YK Industries,

Golden Words Of Accounting?

3 Answers   UTC,

on 02/05/2013 issued a cheque to third eye ltd of Rs.14000/- in full and final settlement against the due on amount

0 Answers