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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
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Answer Posted / amarendra
TRansaction is INVALID
The Machinery is Purchased on Jan month damaged on June
month.so it was used upto june month so there will be some
depreciation.then how the Insurance Company will pay
Rs.13000/- eventhough machinery used for six months since
its actual price is Rs.12000/-
| Is This Answer Correct ? | 4 Yes | 2 No |
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