Accounting Entry

Dr Loss by fire account by Cr purshase account n trf loss to P & L on finalization

Ya, Anurag is right..

DO AS GUIDED BY ANURAG. FURTHER IF U MAKE OR RECEIVE ANY INSURANCE CLAIM THEN  DEBIT IT AND CREDIT THE CORRESPONDING AMT. TO LOSS BY FIRE A/C AND THEN TRANSFER THE REMAINING LOSS TO P/L A/C.