Saved Bookmarks
| 1. |
(1)Goods worth 5,000 destroyed by fire.(2)Insurance Company admitted claim for 4,000 only. journal entry |
|
Answer» Answer:GOODS DISTROYED BY FIRE A/c DR. 5000 To. TRADING A/c 5000 P&L A/c Dr. 1000 (5000 - 4000) To. GOODS DISTROYED BY FIRE A/c 1000 (5000 - 4000) Amt claimed by insurance co. A/c. Dr. 4000 ASSET (in Balance sheet) 4000 Explanation: |
|