Interested to Buy Any Domain ? << Click Here >> for more details...
Q.Goods worth Rs.5000 destroyed in fire? Insurance claim
received RS.4000 for the goods lost? Loss of Rs.1000 pass
the entries in the books of accounts?
- 16 Answers
- 72934 Views
- I also Faced
- E-Mail Answers
Answer Posted / krishan murari
1. Loss by fire A/c ...Dr. 5000
To Purchases A/c. 5000
2. Insurance Co. ...Dr. 5000
To Loss by fire A/c. 5000
3. Bank A/c. ...Dr. 4000
Profit and Loss A/c...Dr. 1000
To Insurance Co. 5000
| Is This Answer Correct ? | 153 Yes | 44 No |
Post New Answer View All Answers
on 02/05/2013 issued a cheque to third eye ltd of Rs.14000/- in full and final settlement against the due on amount
Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
I have a doubt in tally,if a customer purchase our product on cash or sometimes credit,under which head i need to make the customer ledger.?
WHEN WILL SBI DECLARE THE RESULTS OF INTERVIEWS OF CLERICAL CADRE HELD IN APRIL-MAY 2010?
What and How to compute an unsecured balances?
I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
What is account payee cheque? Expand ctc cheque?
what is the nature of profit and loss approprition account.which entity prepare this.
what is the impact of bank garantee of rs 100000 on cash flow statement which has been expired...& impact on bank reconcilation statement
we had company we provide work others they deducted tds how to pass entries in my company please tell me
What is the limitaion of the Trial Balance?!
sir, i want t know, i got a cheque frm sindhu (that amount i gave her as rent advance, she is returning nw) bt the cheque has cancled and bank take cheque return charges so plz give this journal entries.
What is accounting
What is trial balance? What does an accurate trial balance suggest?
where to show Preliminary expenses except "Statement of changes in working capital" in Fund flow statement?
