Fire Accident in office

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2011 Hi,

In Feb-11month in our office fire accident is happend and some worth of Rs.25lakhs servers burnt and not usable of those servers, can u explain how to treat accounting

Hitender Gaur

Hitender Gaur (Expert)
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08 April 2011 Show the cost of Server as loss due to Fire in you P&L A/c.(Please keep the memo/report of Local police and Fire Department about the said accident)

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2011 Can u expalin me what entries need to pass

1. Assets knockoff
2. Depreciation
3. Loss of assets

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Hitender Gaur

Hitender Gaur (Expert)
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09 April 2011 3. Loss of Assets (As it is your assets )