Rammi_RP Rawat
(Accountant )
(386 Points)
Replied 22 June 2016
You need to pass entries in this case :
Remove cost of goods lost from trading A/c / Purchase A/C.
Loss On Goods theft/special perils A/c Dr..... XXX
Trading / Purchase A/c Cr............XXX
Note :- Loss on goods theft / special perils should be grouped in inderect expanse.
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