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Insurance claim

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2012 What entry will have to be passed for insurance claim received in case of damaged business assets?
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CA SAYANTAN BASU

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CA SAYANTAN BASU (Expert)
23 November 2012 DEAR SIR ,

THE JOURNAL ENTRY IS :

1. INSURANCE CLAIM A/C ---DR
To LOSS OF STOCK A/C/
STOCK A/C

2. BANK A/C ----DR
TO INSURANCE CLAIM A/C


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