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
- 68943 Views
- I also Faced
- E-Mail Answers
Answer Posted / animesh chaturvedi
Loss by fire A/c Dr. 5000
To loss A/c cr. 1000
To insurance A/c. Cr. 4000
| Is This Answer Correct ? | 21 Yes | 19 No |
Post New Answer View All Answers
If balancing account is not assigned to company & is assigned to department wat will be the effects
what is bank aceleted?
The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).
Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!
What is account payee cheque? Expand ctc cheque?
consultancy charges receivable Rs 30000 from abc & co. tds receivable 3000
What is the Full Procedure of Purchase ?
Hi sir, Our appointed one agent for sales promotion activities. This agent doing the job "canvas of our product". My quires 1)it is eligible for service tax and how to accounted. 2) this transaction is direct expenses or direct expenses? Pl suggest me
Explain me by saying, perpetual or periodic inventory system; what do we mean?
Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?
Tell me what is public accounting?
One Institute, after completion of course not issue any certificate to students, they issued certificate from other branded institute with cost (Kindly provide the term of this expenditure to appear in P&L a/c)
What do you find most satisfying about this job?
what is use of cost category ? which type is useful in accounting work ? give answer with solid example because iam slow learner in accounting line.
what is mean by sample account and data transfer rule in SAP FI?
