Journal entry foir theft of bike
This query is : Resolved
06 May 2014
Respected Sir,
\I am working in pvt. ltd. co. we have a motor cycle purchased in june 2013 worth rs. 45000/-
but in feb2014 motor cycle stolen.
we have lodged f.i.r.
what is the journal entry for loss of theft & insurance claim.
with depreciation if rate of dep. is 10 %
\I am working in pvt. ltd. co. we have a motor cycle purchased in june 2013 worth rs. 45000/-
but in feb2014 motor cycle stolen.
we have lodged f.i.r.
what is the journal entry for loss of theft & insurance claim.
with depreciation if rate of dep. is 10 %
06 May 2014
Loss due to theft a/c
to Motor car a/c
Depreciation allowed from the day u using it till its lost.
to Motor car a/c
Depreciation allowed from the day u using it till its lost.
07 May 2014
thanx. but depreciation will be charged first & after that with w.d.v. of bike debited to loss due to theft. & bt about to insurance claim.
07 May 2014
Respected Sir,
I have taken LIC Policy on dated 31.3.2014 & deposit Rs, 50000/-as Premium on the same date.
Please tell me this amount is eligible under section 80c for the f.y. 2013.2014.
I have taken LIC Policy on dated 31.3.2014 & deposit Rs, 50000/-as Premium on the same date.
Please tell me this amount is eligible under section 80c for the f.y. 2013.2014.
07 May 2014
yes after charging prop depn the wdv to be charged to p n l.
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