dspsaradi


{ City } hyderabad
< Country > india
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Question { Genpact, 20279 }

Mac Purchased on 15th Jan 12000/-
30th June Machinery damaged due to Fire Accident
31st Dec received the Insurance Premium 13000/-.
Pass the Journal Entry for all the above three


Answer

15TH JAN DEBIT CREDIT
MACHINARY A/C 12000/-
TO CASH/CREDITOR A/C 12000/-

30TH JUNE

INSURANCE PREMIUM CLAIM A/C 12000/-
TO MACHINARY A/C 12000/-

31ST DEC

CASH / BANK A/C 13000/-
TO INSURANCE PREMIUM CLAIM A/C 12000/-
TO OTHER INCOME 1000/-

Is This Answer Correct ?    17 Yes 1 No