26 September 2013
Loss due to fire Dr.........300000 Insurance Claim receivable.1500000 To Fixed assets .................1800000
Above entry is on the basis of assumption that you have provided block value of assets Rs.2500000 out of which assets having WDV Rs.1800000 has been destroyed.
26 September 2013
Loss due to fire Dr.........300000 Insurance Claim receivable.1500000 To Fixed assets .................1800000
Above entry is on the basis of assumption that you have provided block value of assets Rs.2500000 out of which assets having WDV Rs.1800000 has been destroyed.
26 September 2013
if you are maintaining accumulated depreciation accounts . . credit the cost of machinery and debit the accumulated depreciation on machinery
CAclubindia
