goods lost by fire rs10000 & insurance claim received for
the same rs8000.what are the effect of this entry in final
accounts?
- 17 Answers
- 73652 Views
- Amma Enterprises, BHU, HCL, Syntel, I also Faced
- E-Mail Answers
Answer Posted / john
Particulars | Debit Amount | Credit Amount |
| | |
Loss by Fire A/c Dr. 10000
To Purchases A/c 10000
Insurance Co. Dr. 10000
To Loss by Fire A/c 10000
Bank A/c Dr. 8000
Profit and Loss A/c Dr. 2000
To Insurance Co. 10000
| Is This Answer Correct ? | 13 Yes | 1 No |
Post New Answer View All Answers
when we purchase of tractors and two wheeler vehicle from other state what we get taxes exemptions
Financial Accounting
why you want to lecturer
How many accounting standards are currently published?
Tell me in balance sheet, where do you show tds?
What is fiduciary accounting?
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.
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
Sir, we have investment shares some company how to calculate gain/loss please send format brefly fifo, lifo and average method
What are source documents in accounting?
List out some of the examples for liability accounts?
What is the difference between a cash flow statement and an accural profit & loss account ? And why do simple organisations do not feel the need for a profit and loss type of statement ?
Please advise how to calculate net asset....
professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally
what made you take up present subject/area of specialization and what would you define as your career objectives
