LOSS BY FIRE

07-08   Loss (P&L) Dr                     105000

                        To stock                                                   75000

                         To Plant & Mach                                     18000

                         T o Packing mtrl                                       12000

                          To Shed                                                    43200

            Addtl Bridge charges            123000

                         To Cash/Bank                                         123000

 If receipt of insurance claim certain , only then book receivables.

Else, 08-09

              Bank Dr                                        146089

                             T o Insurance claim rcvd(p&L)                  146089

1.
 

Loss by Fire A/c                                                  Dr.     5,41,200

            To Shed                                                                                      43,200

            To Stock                                                                                      75,000

            To Plant & Machinery                                                            1.80,000

            To Packing Material                                                               1,20,000

            To Fire Bridge Charges                                                        1,23,000

3.

Insurance Company  A/c                                  Dr.      5,41,200

            To Loss by Fire A/c                                                         5,41,200

4.

Bank A/c                                                              Dr.         1,46,089

            To Insurance Company                                                     1,46,089

5.

P&L A/c                                                                Dr.         3,95,111

           To Loss by fire                                                                       3,95,111

07-08   Loss (P&L) Dr                     105000