EASYOFFICE

Insurance claim received accounting treatment

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 June 2013 sir,
A Insured truck is fired in the factory, the expenses was occurred on its repair was Rs. 200000/-. But the company can only recovered from insurance company Rs. 105000/-. Whats the account entries in the books of the company in that situation. and whats the treatment of the loss.
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
29 June 2013 Dr:Bank Rs.105000
Dr: Loss on Fixed asset Rs.15000
Cr: Truck Rs.120000

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links