What will be the entry in book, stock get destroyed in fire
of Rs. 1,00,000/- in two circumstances
i) Stock is insured.
ii) and stock is un-insured.
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Answer Posted / 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)
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