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Ravi Kiran (Querist)
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21 March 2010 Dear Sir,

What will be the accounting entry in the books of individual where glass has been broken which was purchased for flat and has been capitalised in flat under fixed assets .

And also please tell the accounting entry for the amt recd from insurance company twds furniture insurance claim on account of broken glass.

Regards

Ravi Konda

Rahul Gupta

Rahul Gupta (Expert)
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22 March 2010 1. Insurance Claim......Dr.
fixed Asset..............Cr.

2. On receipt of payment from insurance Co.
Cash/Bank...........Dr.
insurance Claim ........Cr.