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 ?    64 Yes 7 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 ?    35 Yes 22 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 ?    26 Yes 13 No




Answer / sukanta saha

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

Is This Answer Correct ?    16 Yes 6 No

Answer / angel

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

Is This Answer Correct ?    1 Yes 0 No

Answer / sibaprasad mondal

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

Is This Answer Correct ?    0 Yes 2 No

Answer / riya edwina

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

Is This Answer Correct ?    0 Yes 3 No

Answer / naveen kumar r

Goods destroyed by fire a/c Dr
To Trading Account

Is This Answer Correct ?    0 Yes 7 No

Answer / m.balakrishna

stock a/c Dr
To Purchase a/c

Is This Answer Correct ?    10 Yes 24 No

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