Goods Destryed
This query is : Resolved
29 November 2019
Dear Sir
fire broke out the premise of the dealer and some goods destroyed. we have received some claim from insurance company
Please suggest below entry in books of account is correct or wrong
Stock Journal Consumation entry passed in tally
Loss of Fire 25000/- Dr. (Indirect exp.)
Stock loss by Fire 25000/- Cr. ( Indirect income)
Loss of Fire 4500/- Dr.
IGST Input 4500/- Cr. ITC Reversed
Insurance Claim Receivable 20000/- Dr. (Current Assets )
Loss of Fire 20000/-Cr.
Please advise to me sir
fire broke out the premise of the dealer and some goods destroyed. we have received some claim from insurance company
Please suggest below entry in books of account is correct or wrong
Stock Journal Consumation entry passed in tally
Loss of Fire 25000/- Dr. (Indirect exp.)
Stock loss by Fire 25000/- Cr. ( Indirect income)
Loss of Fire 4500/- Dr.
IGST Input 4500/- Cr. ITC Reversed
Insurance Claim Receivable 20000/- Dr. (Current Assets )
Loss of Fire 20000/-Cr.
Please advise to me sir
29 November 2019
purchase should be credited instead of stock loss by fire.
29 November 2019
Sir,
Rest is okay
Rest is okay
29 November 2019
yes........rest is ok
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Form 10BD Filling
- Eway bill for machinery reparing
- TDS ON CASH WITHDRAWALS...
- Query regarding TDS on EPFO Higher Pension Arrears*
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
