Answer / sadhana

entry will be

insurance co. a/c dr. ( with amt insured/received.)
p&l a/c dr. ( with amt. of loss)
to stock lost by fire a/c ( total amt. Rs. 100000)

Answer / muazam ali

i)will charge to stock shortage A/c ( by fire) at the time
& when insurance received then will charge to stock
insurance a/c

ii)will charge to stock shortage A/c ( by fire)

Answer / srinivas

When Stock is insured

Insurence a/c dr ( with amount insurence received)
P & L A/c Dr ( with amount of loss)

To Trading Account (Total Loss amount)

When Stock is not insured

P & L a/c dr
To Trading a/c

Answer / sadhik basha s

i)stock is insured
first entry for provision

loss by fire A/c dr
to P&l a/c

second entry for claim insurance

insurence co a/c dr
To loss by fire a/c

Answer / sangeeta a bhimalli

Abnormal Loss A/c Dr
To Stock Destroyed A/c

Answered but misspelled pl correct SUPPLIERS ACCOUNTING BALANCE WILL BE ALWAYS (ANS.TIDERC)

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