treatment of insurance claim
This query is : Resolved
01 August 2007
A company has received a claim from insurance company for loss by fire.the said insurance policy contains the clause for reinstatement of asset loss by fire.
what will be treatment in books in following cases:-
claim wdv of asset Asset purchased
passed destroyed (new)
1.10000 12000 14000
2.10000 8000 7000
3.10000 15000 Not yet purchased
what will be treatment in books in following cases:-
claim wdv of asset Asset purchased
passed destroyed (new)
1.10000 12000 14000
2.10000 8000 7000
3.10000 15000 Not yet purchased
09 November 2007
Please provide the gross amount of the respective Asset and cumulative depn and the insurance amount received.
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