journal entry
This query is : Resolved
ganesh mundlik
(Querist)
19 April 2008
i want journal entry of ------
goods destroyed by fire costing rs 300 but insurance company settled claim for rs 280.pls urgent
goods destroyed by fire costing rs 300 but insurance company settled claim for rs 280.pls urgent
Ram Avtar Singh
(Expert)
19 April 2008
when Goods Destroyed by fire first of all entery should be passed
Insurance claim receivable Dr Rs.300/=
Goods Purchase A/c Cr.Rs.300/=
Now when claim recd these two entery should be passed
Bank A/C Dr. 280/=
Insurance claim receivable Cr. 280/=
loss on fire costing Dr. 20/=
Insurance claim receivable Cr. 20/=
Insurance claim receivable Dr Rs.300/=
Goods Purchase A/c Cr.Rs.300/=
Now when claim recd these two entery should be passed
Bank A/C Dr. 280/=
Insurance claim receivable Cr. 280/=
loss on fire costing Dr. 20/=
Insurance claim receivable Cr. 20/=
CA. GOPAL SONIKA
(Expert)
20 April 2008
Insurance Co. Dr280
Loss of Stock Dr20
To Goods destroyed 300
Loss of Stock Dr20
To Goods destroyed 300
Message likes :
1 times
26 April 2008
Insurance co. have sanction the amount upto Rs.280,so the amount is debited to the Insurance Co. Loss - Debit and Goods go out - destroyed so credit with the amount of goods.
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
- EPF ECR NEW FILE SEP 17TH 2026
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- TDS on Fixed Assets purchased
- Under marginal scheme
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- GST on Renting godown to KFCSC for Storage of Raagi
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Oct 2025 Invoices
- Non filing of I T Returns
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
