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This query is : Resolved
21 June 2010
Hi
Please solve my below query
Rs.50000/- thousand worth able stock was destroyed by fire
For that we will get 25000/- insurance what entry we need to pass
In books
GS
Please solve my below query
Rs.50000/- thousand worth able stock was destroyed by fire
For that we will get 25000/- insurance what entry we need to pass
In books
GS
21 June 2010
For Loss
Dr: Abnormal Loss(Stock)
Dr: Insurnace receivable
Cr: Stock A/c
For Insurance received
Dr:Bank
Cr: Insurance receivable
For Loss
Dr: Abnormal Loss(Stock)
Dr: Insurnace receivable
Cr: Stock A/c
For Insurance received
Dr:Bank
Cr: Insurance receivable
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