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Fire Accident in office

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 April 2011 Hi,

In Feb-11month in our office fire accident is happend and some worth of Rs.25lakhs servers burnt and not usable of those servers, can u explain how to treat accounting
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Hitender Gaur

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Hitender Gaur (Expert)
08 April 2011 Show the cost of Server as loss due to Fire in you P&L A/c.(Please keep the memo/report of Local police and Fire Department about the said accident)
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 April 2011 Can u expalin me what entries need to pass

1. Assets knockoff
2. Depreciation
3. Loss of assets
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Hitender Gaur

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Hitender Gaur (Expert)
09 April 2011 3. Loss of Assets (As it is your assets )
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