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
- 73151 Views
- I also Faced
- E-Mail Answers
Answer Posted / mahesh
Good destroyed by fire a/c dr.5000
(Under trading a/c)
To insurance claim a/c 4000
(Under current assets)
To goods loss on fire a/c 1000
(Under indirect expenses)
| Is This Answer Correct ? | 1 Yes | 10 No |
Post New Answer View All Answers
Tell me whether the account “cash” will be credited or debited, when a company pays a bill?
Explain me the difference between public and private accounting?
Tell me what are things will not be included in bank reconciliation statement?
how to record the full and final settlement of employee (salary payable,other payable,,....) when he leaves the company ? or how to pass the entry for that ?
I have passed in SBI clerical exam 2009 , pls tell me what question will be asked for interview .pls mail it on my email id sawant.supriya51@gmail.com
What we have to post entry for payroll processing ? (Indian payroll)
Why current assets Liability said & current Liability Assets said...?at tally ERP9
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances
Tell us did you use accounting applications at your previous companies or prefer working manually?
Can anybody tell me diference between provisions of Profit and Loss account prepared as per company act & Income Tax Act?
What would greater impact a firms valuation, a 10% reduction in revenues or 1% reduction in discount rate?
What is your role in planning?
Why is it necessary to prepare Asset Disposal Account?
How i should sellone the mobile phone when interviewer will ask sell this phone to me?
Do you know public accounting?
