if insurance claim receivable is not show in the balance sheet
but it received from insurance company
how to treat it
plz
Menu
If insurance claim receivable is not show in balance sheet
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)
Recent Threads
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
- Input tax credit on rent to rent
- Family Pension Army
- Waste Management services
Related Threads
CAclubindia
