Question

18. Enter the following transactions in the Books of Yogesh.
June 2 Goods destroyed by flood 20,000. Goods were uninsured.
June 3 Goods destroyed by fire 30,000. Insurance Company paid claim 20,000 by
cheque.
June 7 Goods destroyed by fire * 40,000. Insurance Company admitted 80% claim.
June 8 Goods destroyed in transit * 30,000. Insurance Company admitted the full claim.
June 17 Cash stolen from cash box 14,000.
June 19 Cash stolen from the cash box * 50,000, 30,000 could be recovered the same day.
June 23 Goods Lost by embezzlement * 37,000.​

Answer 1

Answer:

June 2:

Loss of goods due to flood A/c Dr. 20000

To Purchase A/c. 20000

June 3:

Loss due to Fire A/c Dr. 10000

Insurance Co. A/c. Dr. 20000

To Purchase A/c. 30000

June 7:

Loss due to Fire A/c Dr. 8000

Insurance Co. A/c. Dr. 32000

To Purchase A/c. 40000

June 8:

Insurance Co. A/c. Dr. 30000

To Purchase A/c. 30000

June 17:

Loss due to theft A/c Dr. 14000

To Cash A/c. 14000

June 19:

Loss due to theft A/c. Dr. 20000

To Cash A/c. 20000

June 23:

Loss due to embezzlement Ac Dr. 37000

To Purchase Ac. 37000

Explanation:

Note: Whenever Loss is due to Goods...then we have to credit Purchase Ac.

Answer 2

Answer:

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