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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2010
Respected sirs,
What journal entry should we passed in TALLY for stolen of goods . Kindly mention Under which group we will book this journal entry.
With thanks & Regards
What journal entry should we passed in TALLY for stolen of goods . Kindly mention Under which group we will book this journal entry.
With thanks & Regards
CMA Ramesh Krishnan
(Expert)
31 July 2010
It is need to debit As abnorma loss to the extent of insurance claimed
Dr:Abnormal loss
Dr:Insurance receivable
Cr:Stock
Dr:Abnormal loss
Dr:Insurance receivable
Cr:Stock
Taranjit Singh
(Expert)
31 July 2010
In case of loss of stock, if there is Normal loss no entry
is required to pass in such cases price have to be
inflated.But for abnormal loss:-
Loss of stock A/c.....Dr.
To stock A/c
is required to pass in such cases price have to be
inflated.But for abnormal loss:-
Loss of stock A/c.....Dr.
To stock A/c
31 July 2010
AGREED WITH EXPERTS.
ABNORMAL LOSS SHOULD BE DEBITED AS EXPENSED EXTENT TO INSURANCE CLAIM.
LOSS WHICH IS NOT ENTERTAINED BY INSURANCE COMPANY WILL BE DEBITED TO PROFIT & LOSS A/C
ABNORMAL LOSS SHOULD BE DEBITED AS EXPENSED EXTENT TO INSURANCE CLAIM.
LOSS WHICH IS NOT ENTERTAINED BY INSURANCE COMPANY WILL BE DEBITED TO PROFIT & LOSS A/C
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