If insurance claim receivable is not show in balance sheet

A/c entries 1699 views 1 replies

if insurance claim receivable  is not show in the balance sheet

but it received from insurance company

how to treat it  

 

plz

    

Replies (1)

If Insurance Claim Receivable is not shown in Balance Sheet then actual claim received should be charged through Profit & Loss Account.

Accounting Entry

Bank Account Dr.       xxxx

         To Misc. Income        xxxx

(being Insurance claim charged to profit & Loss Account against the loss of asset occurred in past and charged fully to profit & Loss Account)


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register