LOSS BY FIRE

anirudh dash (CA final student) (32 Points)

14 September 2008

DATE OF FIRE 19.05.07

ESTIMATED LOSS ON 19.05.07

M.S. SHED WHICH IS NOT PART OF BUILDING(REPAIR & MAINTANANCE)- RS 43200.00

STOCK RS 75000.00

PLANT & MACHINERY RS 18000.00

PACKING MATERIAL RS 12000.00

ADDITIONALLY FIRE BRIDGE CHARGES RS 123000.00

INSURANCE CLAIM REC. AS ON 27.05.2008 OF RS 146089

PLZ SUGGEST A/C ENTERIES TO BE PASSED IN THE BOOKS FOR THE F.Y. 2007-08 &2008-09.

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4 Replies

G.M.Muthu (Associate) (54 Points)
Replied 14 September 2008

Originally posted by :anirudh dash

Loss on Fire a/c dr 2,28,000

Repair& Maintenance A/c 43,200

To stock a/c 75,000

To Plant & Machinery a/c 18,000

To Packing Material a/c 12000

To Cash/Bank A/c 1,66,200

Cash/bank A/c 149089

to Loss on Fire 149089

CA Annie (Chartered Accountant ) (747 Points)
Replied 14 September 2008

07-08 Loss (P&L) Dr 105000

To stock 75000

To Plant & Mach 18000

T o Packing mtrl 12000

To Shed 43200

Addtl Bridge charges 123000

To Cash/Bank 123000

If receipt of insurance claim certain , only then book receivables.

Else, 08-09

pushp palawat (Management Trainee) (37 Points)
Replied 15 September 2008

Originally posted by :anirudh dash
"	DATE OF FIRE 19.05.07 ESTIMATED LOSS ON 19.05.07 M.S. SHED WHICH IS NOT PART OF BUILDING(REPAIR & MAINTANANCE)- RS 43200.00 STOCK RS 75000.00 PLANT & MACHINERY RS 18000.00 PACKING MATERIAL RS 12000.00 ADDITIONALLY FIRE BRIDGE CHARGES RS 123000.00 INSURANCE CLAIM REC. AS ON 27.05.2008 OF RS 146089 PLZ SUGGEST A/C ENTERIES TO BE PASSED IN THE BOOKS FOR THE F.Y. 2007-08 &2008-09.	"