Insurance claim received on fixed assets loss
This query is : Resolved
05 March 2012
dear Sir,
Please tell me how we make entry for fixed assets loss and claim received by Insurance company
Please tell me how we make entry for fixed assets loss and claim received by Insurance company
05 March 2012
Loss on Fixed asset Dr.
Bank account Dr.
To Fixed asset.
Bank account Dr.
To Fixed asset.
05 March 2012
Please also note to discharge VAT on the same should it be applicable in your respective state.
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