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goods lost by fire rs10000 & insurance claim received for
the same rs8000.what are the effect of this entry in final
accounts?
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Answer Posted / tarun
cost of goods lost Dr 10000
to trading account 10000
insurance claim ac Dr 8000
To loss of goods 8000
p& l ac Dr 2000
To loss of goods 2000
cash ac Dr 8000
To ins. claim 8000
| Is This Answer Correct ? | 19 Yes | 5 No |
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