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Goods lost by fire rs.5000 it was partly insured insurance company admit the claim for 3500 what will be the journal entry
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Answer Posted / navin kumar
Goods Loss by fire A/C Dr 5000
To Trading/Purchases 5000
(Being good lost by fire)
Insurance claim A/C Dr 3500
To Goods Loss by fire A/C 3500
Profit and loos A/C Dr 1500
To Goods Loss by fire A/C 1500
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please inform me , how to make employee ladger account of salary...please inform me with entry..e.g if we give 14000 salary, as structure we put it half amount in advance and half is salary so in this case how to make entry in employee ledger account...please inform me...both things..Thank You.
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