Loss of finished stock
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2012
Dear Sir,
finished Stock worth Rs 10 Lacs lost by fire.
We filed claim agt this.
Rs 3 Lacs we received clim .
What Entries should be made in books?
finished Stock worth Rs 10 Lacs lost by fire.
We filed claim agt this.
Rs 3 Lacs we received clim .
What Entries should be made in books?
24 November 2012
1.Goods lost by Fire a/c 10 lac Dr
To Trading Account/ Stock A/c 10lac
2.Cash /Bank A/c 3lac Dr
Profit and Loss A/c 7lac Dr
To Goods Loss by Fire A/c 10lac
To Trading Account/ Stock A/c 10lac
2.Cash /Bank A/c 3lac Dr
Profit and Loss A/c 7lac Dr
To Goods Loss by Fire A/c 10lac
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