Menu
Journal entry..??
Stock – 1,00,000/-
Sale of Stock 40,000/-
Loss on Fire 10,000/-
Insurance Claimed 10,000/-
Required journal entry please..!!
Replies (1)
| 1 | Cash A/c | Dr. | 70000 |
| Insurance Alim recived | Dr. | 5000 | |
| Loss on Fire | Dr. | 5000 | |
| Los on Sale | Dr. | 20000 | |
| To Inventory | Cr. | - 100,000.00 | |
| 2 | P & L A/c | Dr. | 25000 |
| Los on Sale | Cr. | -20000 | |
| Loss on Fire | Cr. | -5000 |
Is this entry Correct./.??? Kindly advise me if i'm wrong..!!
Recent Topics :
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
- Difference between AIS and 26AS data.
- Applicability of FCRA to Article Processing Fees (
- GST Return
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
Related Topics :
CAclubindia
